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By Armando M. Lago

Secular and cyclical patterns of postwar sources and uses of funds of the mineral sector are analyzed. A simultaneous equation behavior model of sources and uses of funds is developed for both mining firms and integrated producers, and these models were put through the task of predicting the financial and expenditure be-havior of mineral corporations in response to mergers and changes in investment tax credits and depletion allowances. Finally, the quantitative analysis methodology is applied to the analysis of optimum capital structure of mining corporations. The postwar changes that have occurred in the expenditure and financial behavior of mineral corporations are reviewed, particularly the relative importance of factors that affect the industry's supply and demand for funds. This quantitative statistical investigation of factors affecting sources and uses of funds of mineral corporations is achieved through the formulation of a simultaneous equation model of sources and uses of funds. After a description of the study sample, the postwar cyclical and secular financial behavior of mineral corporations is analyzed in detail. An econometric model of mineral corporate financial behavior is formulated. This model is then estimated and reviewed. Policy issues regarding depletion allowances, investment tax credits, and industrial organization of the mineral sector are discussed. Finally, the optimum financial structure of mining firms is discussed and the effect of corporate financial structure on the mining corporations' average cost of capital is analyzed.

Jan 1, 1971

By Nicklaus Heil, L. D. Clark

As political tensions in African and Asian mineral producing regions increase, the orientation of Latin America's economic development assumes importance not only in the U.S. hemispheric policy but also in our mineral-based economy. Latin America as a mineral supply source has been confronted with regional, political and economic problems which may, at best, have limited further investment and, at worst, have suggested possible repudiation of existing investments. Historically, the mining industry has provided a basis for the national economies of Bolivia, Chile and Peru, and recently the governments of these countries have sought to force increased development of the industry through new and somewhat revolutionary mineral legislation. The extent to which the mineral industries are intended to finance economic development is uncertain and the influence of this legislation on economic freedom and incentive for foreign and domestic investment is a matter for some thought. Two facts are outstanding: first, mining, at present, provides approximately 80% of the foreign exchange in Chile and Bolivia and 42% of that in Peru and, second, existing tax revenues are insufficient to finance a developing economy.

Jan 5, 1967

By J. S. Aronofsky, A. S. Lee

Results and experimental procedures are presented covering a preliminary laboratory investigation of the compaction of reservoir rocks and its effect on porosity and permeability. "Egective" compressibility was measured by subjecting core material to an overburden load and reducing pore pressure. Preliminary results showed relatively high effective compressibilities which varied from 1.8 X 10-' pore volume/pore volume /lb / in.~ for limestones to 7.7 X 10-6 pore volume/pore volume/lb/in.' and even higher for sandstone reservoirs conmining large amounts of fine clay material. It appeared from the initiol results that the effective compressibility of the material could not be correlated directly with porosity and that other factors, such as the amount of clay material present might have to be taken into account. The work to date has indicated that effective compressibility factors will have to be measured for the particular reservoirs heing studied. Oil permeability of core materid was measured under various effective overburden loads from 0 to 8,000 psi. It has been found than reduction of permeability in clean sands was relatively small and the results agreed with published data. For sandstones containing large amounts of clay, preliminary tests indicated very large reductions in permeability with increasing effective overburden pressures. It is planned to continue laboratory work on this phase because of its importance in low-permeability reservoirs. INTRODUCTION During the past few years increasing interest has been shown in the differences obtained between conventional laboratory measurements on cores at atmospheric pressure and those when reservoir conditions are simulated. Since these data are used as the basis for calculations and the prediction of reservoir behavior, their evaluation under reservoir conditions is most important. The effect of the compressibility of the rock upon the reservoir behavior, as fluid pressure declines, is an important subject which has been insufficiently studied. The total pressure on any plane through a reservoir is the result of the grain-to-grain rock pressure due to the overburden and the pressure of the interstitial fluid on the plane. As reservoir fluid pressure declines, the net load on the rock phase must increase, and the result is the compaction of the rock structure which produces a decrease in pore volume. Simultaneously, the rock grains expand into the pore space as the fluid pressure declines. The result of these two effects is defined as the effective compressibility of the rock and is expressed in units of pore volume/original pore volume/psi. Work was started by Imperial in 1954 on the effects of pressure on the porosity of reservoir rock. These studies established effective compressibility factors for some limestones and dolomites. Since that time effective compressibilities have been obtained for other Canadian and some U. S. reservoir rocks. In conjunction with the study of porosity, an investigation has also been initiated to determine the effects of pressure on permeability. One outcrop and several reservoir sandstone cores have been tested to date. ROCK COMPRESSIBILITY Apparatus anD Procedure A diagram of the apparatus used in these studies is shown in Fig. 1. The equipment was constructed so that a uniform pressure, equivalent to the reservoir overburden, could be applied by the oil pump and transmitted on all sides of the core through the Lucite sheath. The sample was completely saturated by circulating brine through the mounted core. Pressure in

By S. D. Baumer, P. M. Hulme

B. M. Larsen (U. S. Steel Co., Kearny, N. J.)—Could we have some sort of an estimate on the cost of calcium carbide for this treatment? Also, if you used calcium carbide on carbon-saturated iron, would some effect hold back the reaction? P. M. Hulme (authors' reply)—As far as I know we have not worked on carbon-saturated iron. About 3½ pct C is the highest we have worked on. As far as cost goes, it depends on how much sulphur You have to take out. It will run anywhere from $0.75 to $2.00 a ton overall cost including the cost of carbide per ton of metal treated. That is, using the efficiencies that we show in this paper. We are getting better efficiencies now. T. L. Joseph (University of Minnesota, Minneapolis, Minn.)—Did you say 2 lb of calcium compound? Mr. Hulme—That is based on 10 lb of calcium carbide per lb of sulphur removed. D. E. Babcock (Republic Steel Corp., Youngstown, Ohio)—We have run this type of desulphurization process at the blast furnace. We have desulphurized between 100 and 200 at the blast furnace and taken the iron right out of the furnace with an injector system. The process gave us quite varied results; stratified iron, high sulphur on the top and low sulphur on the bottom, and we decided it was impractical. Mr. Hulme Just what was the type of injection equipment? Dr. Babcock—Nitrogen gas for one injection method and we used fairly large gun equipment. We followed the same general type of pattern you show only on a larger scale. Mr. Hulme—It sounds very much like what we call the gale of wind method. We have very erratic results with that. Dr. Babcock—We have tried several types, and particle sizes. The operation was not satisfactory. Mr. Hulme—Of course, we have never tried it on that scale except on a continuous basis. That is the reason we abandoned the idea of working on 35 ton ladles on a batch principle and took it as it came out of the cupola and treated it on the fly on a continuous basis. Dr. Babcock—When you compare the relative effectiveness of the process as carried out, it does not give a very favorable comparison of that process which is already developed. We did not feel it was worth the

Jan 1, 1952

By J. W. Downey, S. T. Zegler

A study has been made of the occurrence of Phases having the Cr30-type structure in ternary alloys having the general composition where B cept for iron and copper all the B components are known to form binary compounds having the type structure. The occurrence of the struc-ture type in the ternary alloys was investigated using optical and X-ray metallography. The results indicate that iron can replace virtually none of the cobalt in at 900°C, but substitutes for nickel in up to the approximate composition tually insoluble in V3Ni and 2) and exhibit complete solubility. At 100 nickel can be substituted for cobalt in VSCo up to the composition solubility; and 3) in the system , two solid solutions having the type structure occur. At the same temperature, 1000°C, V3Si exhibits limited solubility for V3Co but is completely mis-cible with V3Ga. Lattice parameters have been determined for all the binary and ternary phases. The solid solutions are discussed in terms of the atomic size and electronic factors which are thought to influence the occurrence of Cr30-type phases. The binary compounds V3Co and V3Ni were found to form peritectoidally from o phases and a vanadium, the former compound at a temperature between 1000" and 1050°C, the latter between 800°and 900°C. The substitutions of nickel and rhodium for cobalt in V3Co were determined not to raise the superconducting transition of VSCo to a temperature as high as 2°K. The occurrence and stability of binary intermediate phases having the Cr30- or A15-type structure (space group o;, Pm3n) have been discussed in several recent papers . Vanadium forms the struc -ture at or near V3B stoichiometry with all the mem -bers of the cobalt and nickel groups in the periodic table and also with Au, Ga, Si, Ge, Sn, P, As, and Sb. This paper describes a survey of the occurrence of the CrsO-type structure in ternary alloys having the general composition V3(B, B') where B and B' are Fe, Co, Ni, Cu, Rh, Ir, Si, and Ga. The purpose of the survey was to clarify the connection between the position of the B partner in the periodic table and its CrsO-type phase-forming tenden~y.~,~ The survey is part of a broader program concerned with the influence of B-partner substitutions on the superconducting transition temperatures of CrsO-type compounds. The transition temperatures, Tc, of some of the ternary Cr,O-type phases found in the survey are also discussed in this paper. EXPERIMENTAL PROCEDURE The alloys were prepared by arc-melting in an A-He atmosphere and were in the form of buttons, weighing approximately 3 g. The metals used in their preparation were received from commercial sources and were in all cases 99.9+ pct pure. The vanadium was spectrochemically pure except for 800 ppm of Si, 200 ppm of Fe, and 200 ppm of Al. For study of each pseudobinary system at least seven alloys were prepared having the general compositions case of alloys containing gallium, melting losses were small, usually less than 0.3 pct of the total weight of the metals charged for melting. Melting losses were somewhat greater for gallium alloys, ranging in general from 0.9 to 5.0 pct. Ternary V-Si-Ga alloys were chemically analyzed and the results are given in Table I. The analyses show most alloys to be within 2 at. pct of the intended composition. Throughout the balance of the paper the intended compositions are used in discussing the alloys. The cast buttons were annealed within evacuated quartz capsules for times ranging from 3 to 6 weeks at temperatures between 800" and 1000°C and water-quenched. The phases present in the annealed and quenched alloys were identified by optical and X-ray metallography. X-ray diffraction photograms were made with powders prepared from the bulk specimens, by the use of a 114.6-mm-diam powder camera with copper irradiation. The lattice parameter of CrsO-type phases and their standard errors

Jan 1, 1963

By C. A. Hartnagel

The production of petroleum in New York state in 1942 amounted to 5,410,000 bbl. This represents an increase over each of the four preceding years, and, with the exception of 1937, is the largest production since the peak of over six million barrels in 1882, shortly after the discovery of oil in Allegany County. The oil industry in New York is virtually stabilized and there has been little or no exploration for new sources of supply in recent years. The boundaries of the present fields were established more than 30 years ago and since then no additional reserves have been found. Deep drilling for natural gas during the past 10 years both within and without the oil fields has failed to find oil in quantity below the present producing sands of Devonian age. Oil Since 1882, the New York fields have produced approximately 140 million barrels of oil. Of this amount, 65 million was produced up to the year 1919 by ordinary pumping methods; that is, without flooding by water or the use of other secondary-recovery methods. In the year 1919, when a law was passed making the use of water-flooding methods legal, the oil production, of the state amounted to only 851,000 bbl. In the 23 years since 1919, there have been produced in the state 75 million barrels, or 10 million more than in the previous 37 years, which included the period of flush production. Price.—On March 26, the price of crude oil was raised from $2.75 to $3.00 per barrel, hut this increase had little or no effect on the number of wells drilled. In the Allegany field, which accounts for three fourths of the state's oil production, 1259 wells were completed in 1942, 7 less than in 1941. The smaller number of wells drilled was not only due to the shortage of labor but also was caused by the fact that in water-flooding territory a definite program for drilling wells is followed, and the flush period of an oil well is not usually reached in time to profit by any given price increase. Daily Production.—All of the oil wells in New York state, some 21,000 in number, are small producers. The average daily oil production is 7/10 bbl. per well. Under good flooding conditions, a maximum production of 5 to 8 bbl, a day is reached about one year after the flood begins to act on the well. In 5 years the daily production usually is less than one barrel. Although most of the oil in New York is produced by flooding, an estimated 2500 old wells produce without flooding. Some of these produce as little as 1/20 bbl. a day and are pumped only at intervals. The small producing Wells are mostly on lands leased to the larger oil companies and later will be included in a flooding program. At present, they are pumped only because the owners of the land insist on the royalty. Government Aid Needed.—Because of its good lubricating qualities, New York oil is one of those for which there is an insistent and growing demand, but even at its present price of $3.00 per barrel, many of the operators are producing at a loss.

Jan 1, 1943

By C. A. Hartnagel

The production of petroleum in New York state in 1942 amounted to 5,410,000 bbl. This represents an increase over each of the four preceding years, and, with the exception of 1937, is the largest production since the peak of over six million barrels in 1882, shortly after the discovery of oil in Allegany County. The oil industry in New York is virtually stabilized and there has been little or no exploration for new sources of supply in recent years. The boundaries of the present fields were established more than 30 years ago and since then no additional reserves have been found. Deep drilling for natural gas during the past 10 years both within and without the oil fields has failed to find oil in quantity below the present producing sands of Devonian age. Oil Since 1882, the New York fields have produced approximately 140 million barrels of oil. Of this amount, 65 million was produced up to the year 1919 by ordinary pumping methods; that is, without flooding by water or the use of other secondary-recovery methods. In the year 1919, when a law was passed making the use of water-flooding methods legal, the oil production, of the state amounted to only 851,000 bbl. In the 23 years since 1919, there have been produced in the state 75 million barrels, or 10 million more than in the previous 37 years, which included the period of flush production. Price.—On March 26, the price of crude oil was raised from $2.75 to $3.00 per barrel, hut this increase had little or no effect on the number of wells drilled. In the Allegany field, which accounts for three fourths of the state's oil production, 1259 wells were completed in 1942, 7 less than in 1941. The smaller number of wells drilled was not only due to the shortage of labor but also was caused by the fact that in water-flooding territory a definite program for drilling wells is followed, and the flush period of an oil well is not usually reached in time to profit by any given price increase. Daily Production.—All of the oil wells in New York state, some 21,000 in number, are small producers. The average daily oil production is 7/10 bbl. per well. Under good flooding conditions, a maximum production of 5 to 8 bbl, a day is reached about one year after the flood begins to act on the well. In 5 years the daily production usually is less than one barrel. Although most of the oil in New York is produced by flooding, an estimated 2500 old wells produce without flooding. Some of these produce as little as 1/20 bbl. a day and are pumped only at intervals. The small producing Wells are mostly on lands leased to the larger oil companies and later will be included in a flooding program. At present, they are pumped only because the owners of the land insist on the royalty. Government Aid Needed.—Because of its good lubricating qualities, New York oil is one of those for which there is an insistent and growing demand, but even at its present price of $3.00 per barrel, many of the operators are producing at a loss.

Jan 1, 1943

By A. L. Holley

The existence of iron ore and anthracite coal in the neighborhood of Providence, R. I., baa long been known, chiefly as a geological fact; that these materials, so near to each other and to tidewater, are of such a good quality and are present in such large quantity, as to have seriously raised the question of establishing blast furnaces there, was a surprising fact to me; and I have thought that the few notes I have lately gathered on the subject would be of interest at this partly New England meeting. The coal field referred to has an area of above 400 square miles, and is found throughout the belt of transition rocks extending from Newport Neck to Mansfield, Massachusetts. It underlies the cities of Providence and Newport, and the towns of Middletown, Portsmouth, Jamestown, Warwick, Barrington, Cranston, North Provi-

Jan 1, 1879

By Thomas Chance

ALL gravity methods for the separation of ore from gangue, or of slate and other refuse from coal, are based upon differences in the falling velocities, in some fluid medium such as air or water, of the materials to be separated. As all materials falling in a vacuum have the same velocity, independent of the size, shape, weight or specific gravity of their individual particles, it would be more accurate to describe the operation of these methods as depending upon the. retardation of falling velocities effected by the resistance of a fluid medium, this retardation being greater for small or light particles than for large or heavy particles. This generalization is true also of those appliances utilizing centrifugal force to replace or to supplement the action of gravity. The separation of materials of different specific gravities by means of a fluid having a specific gravity greater than that of the lighter particles and less than that of the heavier particles has not been applied commercially, or on a large scale, to the separation of ores or to the washing of coal, the method being limited to laboratory experimental work or to laboratory determinations for the purpose of checking up the work of jigs, classifiers, and other types of concentrating appliances. A solution of zinc chloride has thus come into general use inn the laboratory to separate coal, bony coal and slate, both to check up the work of coal-washing plants and for the purpose of making tests preliminary to the designing of coal-washing plants. The use of a heavy solution of some chemical in water has often been proposed for making such separations, especially in connection with the washing or preparation of coal. Practically insuperable difficulties, however, have prevented the commercial development of any such process, the difficulties being both physical and financial. The cost of the chemical used to make high-gravity solutions is usually prohibitive, and the freeing of the coal from all traces of the chemical is found to be practically impossible. Such solutions inevitably penetrate the individual lumps and particles of coal, transfusing into the pores and saturating the joint-planes, and very large quantities of wash water

Jan 2, 1918

by their overdogmatic picture of geology and their resulting drastic oversimplification and idealization of geologic features. I am in hearty disagreement with the recommendation that geophysics should be done by cooperative work between a geologist and a geophysi-cist. That arrangement would be comparable to doing petrography by having a physicist at the microscope and a geologist sitting by his side. The interpretation of the geological significance of geophysical data can be done efficiently only by a physicist who has become also a good geologist or by a geologist who is also a good geophysicist. Less Well-trained Men The rank and file, composing perhaps two-thirds of the personnel of exploratory geophysics, is not, and should not be, composed of highly trained men. The routine, stereotyped character of the work and the impossibility of promotion of more than a few from these lower ranks even under the best circumstances justify companies in filling the bulk of these rank and file positions with men having only a bachelor's degree at the most. There can be a wide range of training for such positions, although certain lines of study are preferred for certain kinds of work, and different employers have different preferences. For work in gravitational and magnetic prospecting, first preference will be for men having geological training and second for men with civil engineering training. In seismic work, men with geological training are preferred by some employers for computers; physicists, electrical engineers and all whose technical education has covered radio circuits are preferred for the other technical positions. Collegiate training in geophysical prospecting brings no preference and by many employers is given a slightly inferior rating. One large company seldom hires men who have just graduated with a major in geophysical prospecting. This prejudice is based on the reasoning that much of what is learned in college is obsolete or obsolescent, that most of the techniques learned in college will have to be unlearned, because different from those used by the employing company, and that in the long run additional courses in basic physics, mathematics and geology are of more value to a man than the courses on geophysical prospecting. DISCUSSION [This discussion refers to the five papers beginning on page 23 and ending on page 74.1 L. W. Blau,* Houston, Texas.—I have had some rather sad experiences with forecasting. For example, I could not foresee 10 years ago my present occupation, and I do not profess to be able to look ahead 10 years and tell anyone what he will be doing then. Referring to the point raised in the discussion, I do not know, for example, what the price of oil will be 10 years from now. If an appreciable number of

Jan 1, 1940

by their overdogmatic picture of geology and their resulting drastic oversimplification and idealization of geologic features. I am in hearty disagreement with the recommendation that geophysics should be done by cooperative work between a geologist and a geophysi-cist. That arrangement would be comparable to doing petrography by having a physicist at the microscope and a geologist sitting by his side. The interpretation of the geological significance of geophysical data can be done efficiently only by a physicist who has become also a good geologist or by a geologist who is also a good geophysicist. Less Well-trained Men The rank and file, composing perhaps two-thirds of the personnel of exploratory geophysics, is not, and should not be, composed of highly trained men. The routine, stereotyped character of the work and the impossibility of promotion of more than a few from these lower ranks even under the best circumstances justify companies in filling the bulk of these rank and file positions with men having only a bachelor's degree at the most. There can be a wide range of training for such positions, although certain lines of study are preferred for certain kinds of work, and different employers have different preferences. For work in gravitational and magnetic prospecting, first preference will be for men having geological training and second for men with civil engineering training. In seismic work, men with geological training are preferred by some employers for computers; physicists, electrical engineers and all whose technical education has covered radio circuits are preferred for the other technical positions. Collegiate training in geophysical prospecting brings no preference and by many employers is given a slightly inferior rating. One large company seldom hires men who have just graduated with a major in geophysical prospecting. This prejudice is based on the reasoning that much of what is learned in college is obsolete or obsolescent, that most of the techniques learned in college will have to be unlearned, because different from those used by the employing company, and that in the long run additional courses in basic physics, mathematics and geology are of more value to a man than the courses on geophysical prospecting. DISCUSSION [This discussion refers to the five papers beginning on page 23 and ending on page 74.1 L. W. Blau,* Houston, Texas.—I have had some rather sad experiences with forecasting. For example, I could not foresee 10 years ago my present occupation, and I do not profess to be able to look ahead 10 years and tell anyone what he will be doing then. Referring to the point raised in the discussion, I do not know, for example, what the price of oil will be 10 years from now. If an appreciable number of

Jan 1, 1940

WE the undersigned, being ell persons of full age and citizens of the United States, and a majority resident of the State of New York, desiring to form a corporation pursuant to the provisions of the membership Corporations Law for the purpose of incorporating, as provided in section 5 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and file this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and 6he reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. II. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its. Council; that the undersigned are all members of said Council as the same was constituted on the 296h day of December, 1904. III. That on said last-mentioned date a regularly called meeting of said association was held at its office in the Borough of Manhattan, City of New York; that thirty days before such meeting notice of the intention to incorporate said association was given by mail to each member thereof whose residence or post-office address is known; that at said meeting the following resolutions were offered, seconded and duly adopted by the unanimous vote of all its members then present, to wit: "Resolved, That it is the sense of the members and associates of the American Institute of Mining Engineers in general meeting assembled that it is desirable and necessary for the well being of said association and its members and for the furtherance of the objects for which the same has been formed, that said association incorporate under the Membership Corporations Law of the State of New York; "And Further Resolved, That the Members of the Council of this Association, or a majority thereof, be and they hereby are authorized, in accordance with the provisions of Section 5 of Article I. of the Membership Corporations Law, to incorporate this association for the same purposes for which it has been organized and conducted, in the manner provided in Article 11. of said law; "And Further Resolved, That the name of said corporation as hereby adopted by this meeting shall be American Institute of Mining Engineers; "And Further Resolved, That the said incorporators shall be named in the Certificate of Incorporation as directors of such corporation until its first annual meeting, and that such directors and their successors in office shall be and they hereby are authorized to enact and adopt a Constitution and By-Laws for the government of said corporation." IV. That the name of the proposed corporation is American Institute of Mining Engineers. V. That the purposes for which this corporation is to be formed are: To promote the arts and sciences connected with the economic production of the useful minerals and metals, and the welfare of those employed in these industries by all lawful means; to hold meetings

Jan 1, 1928

WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 5 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and file this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. II. That the persons duly appointed or designated to manage the affairs of said -association are designated by the rules thereof Members of its Council; that the undersigned are all members of said Council as the same was constituted on the 29th day of December, 1904. III. That on said last-mentioned date a regularly called meeting of said association was held at its office in the Borough of Manhattan, City of New York; that thirty days before such meeting notice of the intention to incorporate said association was given by mail to each member thereof whose residence or post-office address is known; that at said meeting the following resolutions were offered, seconded and duly adopted by the unanimous vote of all its members then present, to wit: "Resolved, That it is the sense of the members and associates of the American Institute of Mining Engineers in general meeting assembled that it is desirable and necessary for the well being of said association and its members and for the furtherance. of the objects for which the same has been formed, that said association incorporate under the Membership Corporations Law of the State of New York; "And Further Resolved, That the Members of the Council of this Association, or a majority thereof, be and they hereby are authorized, in accordance with the provisions of Section 5 of Article I. of the Membership Corporations Law, to incorporate this association for the same purposes for which it has been organized and conducted, in the manner provided in Article II. of said law; "And Further Resolved, That the name of said corporation as hereby adopted by this meeting shall be American Institute of Mining Engineers; "And Further Resolved, That the said incorporators shall be named in the Certificate of Incorporation as directors of such corporation until its first annual meeting, and that such directors and their successors in office shall be and they hereby are authorized to enact and adopt a Constitution and By-Laws for the government of said corporation." IV. That the name of the proposed corporation is American Institute of Mining Engineers. V. That the purposes for which this corporation is to be formed are: To promote the arts and sciences connected with the economic production of the useful minerals and metals, and the welfare of those employed in these industries by all lawful means; to hold meetings

Jan 1, 1928

By Donald Ingvoldstad, Harold E. Lee

At Bunker Hill the original charge storage and preparation system was installed in 1917 to accommodate lead-silver gravity mill products. Only minor tonnages of wet fines such as vanner and flotation concentrates were received. Charge flux and diluent requirements were provided by an ample supply of siderite middlings and coarse limerock. While oversize material was crushed through Y4-in., the use of roll crushers in series resulted in a more or less granular, free-running charge of adequate porosity. Under such conditions, receipts could be proportioned directly from receiving bins, and suitable blending was obtained by passing the resultant layered composite through a small Stedman disintegrator. This elementary system served well for production and smelting of an extremely lead-rich sinter, in the low column blast furnace. Here sinter physical quality is less critical, and appreciable quantities of raw flux and oxidized ore may be charged directly to the blast furnace without seriously impairing furnace capacity.

Oct 1, 1956

By Henry Drinker

The Institute has lost a valued member by the death of Eckley B. Coxe, Jr. He bore the name of one who was largely instrumental in founding the Institute, and to whose support and guidance as active member, Vice-President, and President, the Institute owes. much. Eckley B. Coxe, Jr., was the nephew of the late Eckley B. Coxe. He held a large interest in the coal estates owned and developed by his family, and he was thus naturally led to take a continuing interest in mining matters, and for years and up to the time of his death was a full member of the Institute. He died at his residence, Drifton, Pa., on Sept. 20 last, aged 44. He was a member of the class of '93 of the University of Pennsylvania,. of which great institution he was a devoted alumnus. His educational and charitable activities were numerous, but his chief life-work and interest was in archeological investigation and research in Egypt, carried on through the Museum of the University of Pennsylvania of which Museum he was President. The discoveries made by the various expeditions financed and directed by him, and the notable publications issued by his direction and at his expense, chronicling the results, are among the most important researches ever made of buried Egypt. Mr. Coxe was a member of the International Historical Society and of many educational and charitable organizations. By his will, among other bequests, he left $500,000 to the Museum of the University of Pennsylvania and $100,000 to the University, the income of the latter fund to be applied to increasing the salaries of the professors of the Institution. He also left $100,000 to the Children's Hospital of Philadelphia, of which he was a manager, and in addition thereto $10,000 of which the income is to be applied in providing Christmas presents for .the child patients, and in providing an annual dinner for the patients and attendants of the hospital. He bequeathed $50,000 to Leonard Hall, an associate mission of the Episcopal Church, at South Bethlehem, Pa., $25,000 to the Epileptic Hospital and Colony Farm (Philadelphia) ; $50,000 to the Philadelphia Orthopaedic Hospital and Infirmary for Nervous Diseases; $15,000 to the United Charities of Hazleton, Pa., the income to be applied to the salaries of nurses; and $25,000 to the Mining and Mechanical Institute of the Anthracite Coal Region of Pennsylvania, founded by his uncle, Eckley B. Coxe, and of which Eckley B. Coxe, Jr., was an active trustee up to the time of his death. This Institute is known as one of the best preparatory schools for technical education in Pennsylvania, and is mainly devoted to extending an opportunity for education by day and night schools to the boys and young men of the Anthracite Region. Its principal is an alumnus of Lehigh University; it has an able local Board of Trustees, and an Advisory Board consisting of the Provost of the University of Pennsylvania, the President of Lafayette College, and the President of Lehigh University, all three of which institutions have established prize scholarships in the institute. Mr. Coxe carne of a distinguished ancestry, the record of which is fully given in the biographical notice of his uncle, Eckley B. Coxe, by Dr. R. W. Raymond, in Vol. XXV of the Transactions.`

Jan 12, 1916

By G. U. Greene

The various lead producers have given the subject of lead drosses much attention in recent years but the problem of their economical treatment is yet to be solved. Formerly the copper in the furnace feed was removed from the furnace in the form of matte. The speiss at that time consisted principally of the iron arsenide. The practice today is to roast off most of the sulphur and the copper in the feed forms a dross in the furnace, which is removed from the furnace with the lead. This material is poured into the drossing kettles and allowed to cool down to but slightly above the freezing point of lead. The copper dross, containing almost all of the arsenic and part of the antimony, is skimmed off and treated in a small reverberatory furnace at most plants. This is essentially a liquation process. The skimmed dross contains from 70 to 80 per cent lead, and much of this lead is liquated out. The products from this treatment are: (1) impure lead, (2) speiss and (3) matte. The speiss from the reverberatory furnace was studied in this research. The literature on the subject is of very little assistance, as almost no work has been done on the problem of establishing the exact identity of the various phases present. One author(1)† states that speiss consists of a series of isomorphous compounds of the general formula FexAsy in which the Fe may be replaced by Ni, Co, Cu, Pb, Ag, Au, Pt, Zn, Cd and the As replaced by Sb, S and Bi. Hofman(2) states that the iron arsenide present is Fe5As. Experimental Work In the present research, the author used for methods in an attempt to determine the composition of the various phases: (1) chemical, (2) microscopic, (3) roentgenographic and (4) thermal. Previous to this research, considerable time had been spent making analyses of different speisses, but unfortunately no very definite conclusions could be made as a result of these analyses.

Jan 1, 1937

Discussion o f Papers. Meetings of the Institute offer opportunity for social acquaintance and exchange of ideas, for the--presentation of papers, and-for discussions. thereon ; also incidentally for viewing under especially favorable conditions mining operations and industrial establishments, and for hospitalities which demonstrate the brotherhood clue to kindred interests. Placing sociability prominent is not to be assumed as relegating other features of meetings to subordinate positions; but during about 40 years of membership in the Institute, the value of acquaintances formed (often ripening into close friendship), and the interchange of data, have frequently demonstrated that the social feature of meetings is of great and lasting value to the membership. Of a roll embracing 4,011 members, resident in all parts of our country, and scattered in various portions of the world, only a small fraction are able to attend meetings, even if the localities selected are alternately widely separated. Hence, the return which most members receive for their annual assessment of dues is limited to the publications issued, and the credit of being recognized as a. member of a great and worthy organization. The greater the value of the contents of our publication, the fuller the return which goes to members. While the Institute disavows responsibility for views or statements made ill papers which appear in its Transactions, the fact that these contributions, after passing proper censorship, are accepted by the Institute and spread before the world may properly be received by the writers as endorsements of their (the writers') ability to present a specific technical or industrial proposition worthy of being carefully read. But the mere presentation and publication of contributed papers falls short of fulfilling one important feature of our meetings. If the purpose is confined to having the writers' views, discoveries, theories, or methods published, this can be obtained through the technical or trade journals and magazines. The true value of a paper presented at a meeting of the Institute may often be gauged by the discussion which it encourages, although there are contributions of decided value which do not especially invite discussion. However, most Of the papers offered contain statements apt to encourage criticism or elaboration by others whose experience or knowledge, or both, assist in combating or endorsing statements made.

Jan 7, 1913

By Prof. B. Hopkinson

Introduction.-A short time ago Professor Stoughton asked the writer if he would present a paper for the February meeting of our Institute. In reply to this suggestion, some notes have been prepared relating to the subject mentioned in the title. It is to be hoped they may be of interest to our members. The research now described is the joint work of Prof. B. Hopkinson, F. R. S., and the writer. Those interested in the subject will find further data in a paper entitled The Magnetic and Mechanical Properties of Manganese Steel, which will probably be read at this year's May Meeting of the Iron and Steel Institute in London. This paper was submitted to the Institute in October last, and advance copies will shortly be available. The present paper has been drawn up by the writer on this side the water, and he has not had time to communicate with Professor Hopkinson with regard to the statements or opinions expressed herein. While the writer believes that Professor Hopkinson would in the main agree with the statements herein set forth, it should be understood that apart from the actual work described he is not otherwise responsible. The experiments described have been carried out on the material known as manganese steel, which one of the writers of these notes discovered in 1883. A paper by him describing this material was read before this Institute in 1893, entitled Iron Alloys, with Special Reference to Manganese Steel. It is not necessary to describe manganese steel nowa-days; its qualities are so well known, and its use throughout the world is on a very extensive scale.

Jan 3, 1914

C. H. BIERBAUM,* Buffalo, N. Y.--I agree with Dr. Merica that the eutectoid has a distinct effect upon the alloy and also that, as yet, it is difficult to say at just what point this eutectoid occurs or the conditions under which it appears; that is, the percentages of copper, tin, zinc, lead, and the other elements together with the temperature of pouring and the rate of cooling that is necessary; all seem to have a contributing effect. Some authorities, Law for instance, gives it as 9 per cent. of tin, yet under certain conditions I have found it with a lower percentage of tin to copper contents than that. The hard delta and the soft alpha crystals are both necessary for a bearing alloy; the one supplements the other. I am not inclined to think that phosphorus has any effect upon the eutectoid forming. The phosphide, PCu3, forms in and around the delta but is and remains distinct and separated from it. Etching with ferric chloride and then with nitric acid shows this very distinctly; it darkens the eutectoid and the other parts and leaves the phosphide bright. The rate of cooling determines the size of the crystals and the eutectoid together with their distribution and orientation. It is possible to chill the alloy to such an extent Where no eutectoid appears. I think it has been positively demonstrated that only an alpha and a beta appear. when this copper-tin alloy has been poured between two polished ingots

Jan 1, 1919

By Harrison Souder

THE object of this paper is to bring to. the notice of engineers a safety detonating fuse by the use of which misfires in blasting may be eliminated and safety in blasting operations promoted. This new detonator is a French invention and is known as Cordeau detonant or detonating fuse and is sold under the name of Cordeau-Bickford. It consists of a lead tube 5 to 6 mm. in diameter, filled with trinitro-toluene. While applicable to all classes of mining it will appeal especially to those who have to do with deep-hole blasting in open-cut clines or quarries, or any operations where a large number of holes are to be shot at one time. Since the introduction of the deep-hole blasting in the Cornwall iron mines, much trouble has been experienced from misfires and many experiments were made to determine the best and safest method of blasting. Before the introduction of the detonating fuse it was found that to insure the best results, two or more high-power electric exploders, not less than No. 6, with specially insulated conductors, should be placed in each hole; the holes wired in parallel, and for a large number of holes the current to be supplied by a live wire to the bus or lead wires at about the middle of the bench. The voltage in general use is 110 to 220, but as our material is a magnetic iron ore and the holes are generally damp, we found it advisable to reduce this to about 30 volts to prevent short circuits. A No. 7 or No. 8 special insulated detonator was adopted. But with the best of care and attention to the minutest detail, we were not able to eliminate occasional misfires and the consequent ever present danger of accidents.

Jan 10, 1914