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By AIME AIME

EDWIN W. KEMMERER, professor of international finance at Princeton, in a speech before a banking conference at Urbana, Ill., on Nov. 26, stated that the increase in the store of gold held by the United States is not so alarming as it appears on the surface. Excerpts from his address, as reported by The New York Times, follow: "It is significant . . . that the value of gold as expressed in its purchasing power in the United States during the last half-dozen years has been higher than at any other equivalent period since our records began 140 years ago. Our so-called 59-cent dollar today buys about 25 per cent more goods at wholesale than did our old dollar in the prosperous year 1926, and an ounce of gold will now buy considerably more than twice what it did then. This present high value of gold is one reason for its recent large production.

Jan 1, 1941

By Louis, Jordan

THIS paper presents in an abbreviated form the chief points of interest in an investigation of the tarnish-resistant qualities of silver alloys, an investigation which has been carried out as a joint research by the Bureau of Mines and the Bureau of Standards and will later be reported in detail in an official publication from these bureaus. In 1923 a Commission of Gold and Silver Inquiry was created by a Resolution of the U. S. Senate to study the causes of the depressed condition of the gold and silver industry. In cooperation with this commission the Bureau of Mines made a preliminary survey to determine in what ways, if any, it might be possible to increase the uses of silver. One of the possibilities indicated by this survey was the development of silver alloys which should be non-tarnishing, or at least less-tarnishing, than the usual sterling silver (copper-silver). The preparation of a rather wide variety of silver alloys and the determination of their behavior under accelerated tarnish tests in the laboratory was therefore undertaken by the Bureau of Mines and Bureau of Standards as a joint investigation.

Jan 1, 1927

By Robert Linton

M ETHODS by which Americanization is developed among the foreign workers at the mines in the United States, with particular reference to mines of the Pennsylvania coal region, were discussed in a most constructive way at the Wilkes-Barre Meeting of the Institute. Arthur Notman, of the Phelps Dodge Corpn., as chairman, guided the discussion. Americanization was defined by E. E. Bach, !chairman of the Institute's Sub-committee on Americanization, who said: "Americanization applies either to the native-born or foreign-born and is that process of assimilation which guarantees the full functioning of American citizenship. Naturalization papers merely entitle one to the privileges of citizenship."

Jan 1, 1921

By Donald B. Gillies

WE HAVE come a long way since the time of the old steel master who declared that chemistry would ultimately bring the steel business to ruin. Yet I sometimes doubt whether even now we fully recognize the great debt we owe to the institutions that today are initiating young men into the fascinating mysteries of science and training them in the art of engineering. I am not sure that we recognize the importance of the contribution that the schools of applied science and the technical colleges are making to our industrial economy. That contribution is neither narrow nor restricted. It covers the whole range of industry. Dr. Compton, himself, has shown in his survey of leading American corporations that the engineer is twelve times more likely than the nonengineer to become president, five times more likely to become treasurer, and thirty times more likely to become an officer. So the hand of the engineer not only is all-powerful in the laboratory and in the drafting room but his control is increasing in all departments of management.

Jan 1, 1940

By Joan Melcher

The oil embargo and increasing disillusionment with nu- clear power have put this country's abundant coal reserves in growing demand. Both the government and industry are looking toward increased coal mining, and with this goes an increased interest in new and advanced methods of coal utilization. One advanced coal system stands out among the rest-magnetohydrodynamics (MHD). Its high efficiency, strong probability of sulfur dioxide control, and limited consumption of cooling water place MHD in a unique position to help the power generation industry. Another point in MHD's favor is the capital costs of operation, which are lower than those of other advanced technologies. However, initial costs are higher and realization of a commercial MHD plant in this country may be more than a decade away.

Jan 12, 1977

By AIME AIME

Maurer's review summarizes quite thoroughly the various theoretical developments and experimental findings that contribute to the knowledge of rock mechanics in drilling. This discussion supplements Maurer's paper by including generalities that either have been incompletely treated in his review, or formulated from new considerations by the discussant and from hitherto unpublished experimental data. These generalities are associated with the observation that all mechanical methods of rock drilling essentially comprise a sequence of indexed, concentrated loadings on the bottom of the hole being drilled.

Jan 1, 1967

By Edward H. Robie

Jan 1, 1971

By G. Caetani

I. INTRODUCTION. WE owe to the courtesy of Mr. R. M. Raymond, Manager of the El Oro Mining & Railway Co., Ltd., the permission of publishing in this paper the results of a series of experiments and tests made in view of determining the economical limit to which the fine grinding of the ore by tube-mills could be carried on. For the sake of clearness, the following definitions are given of certain terms used in this paper, as well as of the units and screens in the experiments. Slime : In a general way " slime" is that mill-product, of which from 90 to 95 per cent, will pass a 200-mesh screen (0.067 mm. aperture), and which is treated as one class of material in the El Oro cyanide-plants. As a screen-product, slime constitutes all material that *ill pass a 200-mesh, screen. In sizing, the following products are distinguished:- Coarse Sand : That material remaining on a 100-mesh (0.111 mm. aperture) screen. Fine Sand : That passing through. 100-mesh and remaining on a 200-mesh (0.067 mm. aperture) screen. Slime: That passing through 200-mesh. Fines, which pass through 200-mesh and settle in 30 seconds, and silt, which does not settle in 1 minute. Sand-index : The number proportional to its total fineness considered from the economical point of view, as explained on page 93. Absolute extraction : The percentage of values actually brought into solution. Actual extraction: The percentage of values actually brought to the ziuc-boxes. Units : Dollars, U. S. Currency; pounds; and short tons (2,000 lb.). Gold is valued at $20.67, and silver at $0.50 per ounce. Screens : In the sizing-tests the screens used were:¬ Mesh (per 1 in.), . 24 30 40 60 80 100 150 200 250 Aperture (mm.), . 0.740 0.515 0.424 0.250 0.159 0.111 0.090 0.067 0.058 Strengths of solution : Strengths are expressed in the percent- . age of KCN contained, though the sodium cyanide, which is

Jan 1, 1906

By Walter J. Mead

By American tradition, if not by rational decision, publicly owned natural resources have been transferred to private industry for processing. The process of transfer requires specific determination of the price which the patentee, buyer, or lessee must pay to the government in exchange for the right to develop a resource, and selection of the patentee, buyer, or lessee from among several possible contestants. Pricing of natural resources owned by the government presents a set of problems quite different from ordinary commodity pricing. Natural resources in situ are not homogeneous commodities. Within any class of natural resources, specific leasable parcels will differ in value by reason of location and accessibility, as well as quality and quantity. Thus, there is no "going price;" every lease within a specific resource class will have a different value. To complicate further the pricing and buyer selection problems, competition may not be reliable. Natural-resource markets are characterized by oligopsony conditions. In a significant number of cases, as will be shown later, there has been only one bidder for a given lease, and in most lease sales the number of bidders is equal to or less than three. As a further complication, there is great uncertainty regarding the value of specific resources, even among the best-informed buyers, as well as within the leasing agency. In some instances, particularly with regard to oil and gas resources, there may be uncertainty about the presence of resources, as well as the quantity and quality of any resources contained in the tract offered for lease. In other cases, such as oil shale and some deep ocean minerals where new technologies are involved, the presence of the resource is clearly established. There may be a relatively high degree of knowledge about the quantity and quality of the resource, but there is great uncertainty concerning the cost of production. These problems in total make it difficult for the leasing agency to appraise accurately the resource to be leased, as well as for the potential bidder to calculate a bid price that will yield him a normal profit. The pricing goal of the federal government as the seller or lessee may be to capture the economic rent; that is, the price of a resource might equal its discounted present value. A required price substantially above this amount would either generate no bids, or, in the long run, would bankrupt the buyer. A price below this amount is a disguised subsidy to the lessee. A subsidy to mineral lessees, as to any other economic interest group, as a minimum should be justified by a clear showing of net external benefits from the economic activity. In the case of timber sales by the U.S. Forest Service, the Forest Service Handbook asserts that "the aim in national forest stumpage appraisal is to determine market value,"8 and "market value" is equated to "fair market value." Regarding minerals, there is no reference in legislation or regula-

Jan 1, 1976

Victor G. Hills, Cripple Creek, Colo. (communication to the Secretary): In continuation of the subject of the perform ance of "baby machine-drills," presented by Mr. Thane, I sub mit the following records of work done with these drills in the Cripple Creek district of Colorado. Two years ago, the Anchoria-Leland mine began to use baby drills ; and, to make the experiment more complete, began by purchasing two machines, of the same size, but of different make. The little drills were first used for stoping and up raising, in which they achieved at once an unqualified success. Soon after, they began to be used for the smaller branch-drifts and prospecting cross-cuts, while the large two-man drills were still used for the main drifts. Now they have almost entirely superseded the large drills, since it has been found that they will do any ordinary work in the mine at less cost, both for labor and for powder, per ton of rock broken. The large drills, of course, make more rapid progress; but it is only where time is a specially important factor that they are now used. The Portland mine, where, until within a year, only the large machines were used, is now using some small drills for stoping, and also for drifting. Mr. Thane speaks of having two men to operate a baby-drill; but in this district the baby-machine is always worked by one man without help. Again, in Prof. Christy's postscript, the quoted extract from a letter of Mr. L. T. Seymour, the South African engineer, mentions a " 2 1/2-inch Little Giant," as though that were the smallest machine used in that region. These statements leave some doubt as to just what Mr. Thane means by a " baby-drill." To avoid any such uncertainty as to the present communication, I will say that the large or two-man drill in common use at Cripple Creek has a 3 1/8-inch cylinder; while a few mines employ a 3-inch, and a few, in running large tunnels, a 3 1/2-inch drill. What we call a baby-drill here has a

Jan 1, 1900

By H. NORTON JOHNSON

THE oil industry in California during 1929 reached new heights and new depths in the discovery and development of the oil resources of the State. The discovery of new fields, and more especially the discovery and development of deeper prolific sands in known fields has, for the first time in its history, brought the potential production of completed wells within the State to over 1,000,000 bbl. oil per day. Constant improvement in equipment and technique has made possible economic development to depths unheard of but a few short years ago. Commercial production from a depth of over 4000 ft. was considered quite an accomplishment in 1923 when the Meyer sand at Santa Fe Springs was developed, and when later oil was successfully raised from this depth.

Jan 1, 1930

By Felix A. Vogel

I (New York Meeting, February, 1912.) FLUE-DUST, to most blast-furnace operators, means a troublesome by-product, the formation of which should be curtailed, if not prevented entirely. However, with the increasing use of fine ores, larger furnaces, and high-pressure blast, the production of flue-dust is constantly increasing, and amounts annually in the United States to from 3,000,000 to 3,500,000 tons, An exceedingly high tonnage, of which a large part has been discarded as valueless. As a result of greater economy in the iron industry, the attention of our furnace-men has been directed towards the utilization of this enormous amount of waste material, a problem which had also been given due consideration by metallurgists abroad. Flue-dust is generally a fine material containing considerable coke and iron-ore, with a small admixture of lime and silica, depending upon the burden. The iron-ore is partly reduced, which shows that the dust originates largely in the reducing-zone of the blast-furnace. In the United States this dust usually contains 20 per cent. of coke and more than 40 per cent. of iron. Estimating coke to be worth $3.25 per ton, and iron-ore 7 cents per unit, a ton of flue-dust, unless made available, represents a loss to the furnace-man of $3.50. This accounts for the first efforts to recharge the flue-dust into the furnace, either by moistening it clown with an excess of water, or mixing it with clay to form balls of pulp, or treating it with lime-water. These methods, however, have been practically discarded, as they failed to produce the desired economies. To recover, in the blast-furnace, all the values represented by the material contained in the flue-dust, the following con¬ditions should be complied with

May 1, 1912

By Andrew Meyer

As a producer of gold and platinum, Colombia is most emphatically an important country. Last year it produced 656,000 oz. of gold-twice as much as any other country in South America, in fact accounting for a third of the production of that continent. In platinum, world data for 1941 are not available, but in 1939 Colombia exported 39,000 oz., apparently ranking fourth among the world's producing countries, being exceeded only by Canada, Russia, and the Union of South Africa. Colombia was always a mining country. Centuries before the Conquest, Indians mined gold, copper, silver, salt, and emeralds. The Spaniards simply intensified mining. The Bank of the Republic states that from 1493 to 1940 52,177,427 oz. of gold was produced by Colombia, and official Chocó statistics show that about $60,000,000 worth of platinum was mined between 1908 and 1941. These figures are impressive indeed considering that only rich pockets and surface showings were mined by the ancients.

Jan 1, 1942

Philip Argall, Denver, Colo. (communication to the Secretary) : Mr. Rickard expresses regret that I have not given more extracts " from the fresh leaves of nature's open book." The quotations used by me in argument were all from nature's open book, and by authorities recognized in the scientific world as being able to decipher nature's unwritten pages, if not lay bare her inmost secrets. The study of -nature should be preceded by a knowledge of her laws. Natural science is but the summary of the observations of the past or an organized and accurate knowledge of the order in which things have been observed to happen. One who ignores the 'knowledge of the past or despises that of the present and approaches nature's open book with a virgin mind but too often finds her

Jan 1, 1895

By Alan M. Bateman

Before World War II we proudly considered that we were the nation of all the world most richly endowed in mineral resources. We knew it was no accident that those countries abundantly supplied with mineral resources became the great manufacturing nations, and the politically and militarily strong ones; and that our own great industrial cities sprang up where coal and iron met. We all reallized, especially we of the mining profession, that the energy of fuels and the solidity of metals spelled industrial growth and in turn industrial might and that other nations came to regard mineral self-sufficiency as one of the chief goalsof economic nationalism.

Jan 1, 1949

By Mark L. Requa

(San Francisco fleeting, October, 1911.) DURING the past two years California has developed a new and important oil-field : I refer to Midway. This field produced the famous Lake View gusher, which is credited with a total production in excess of 8,000,000 barrels. Fortunately for the oil industry of the State, this well is now a thing of the past, and nothing save a great crater-like opening marks its location. The pipe is entirely worn away and gone ; and it is a matter of serious doubt if there can be anything done that will cause the well to produce again. Fortunately, also, there have been no, other wells in that field or elsewhere throughout the State that in any way compared with the Lake View. Midway is noted for large wells, of from 500 to 2,000 barrels production; but the decline is rapid, and a few months serve to bring the output down to a few hundred barrels. In the oil-territory heretofore blocked out as proved and probable, there have been, during the year, many changes. Some areas which were expected to be fairly productive have apparently failed; others, more strictly "wild-cat," have come in; while in some of the older fields there are properties which are beginning to show evident signs of exhaustion. The total area of proved territory will therefore probably suffer but small increase, when balances are struck off. The increase of new area has come from extensions of the Midway field, the development of a field in Lost Hills and Belridge, and extensions of the Fullerton-Whittier field in southern California. In these later developments, down to date, the fresh area absolutely proved is not much in excess of 3,000 acres. Recent developments in Coalinga indicate the possible extension of that field to the south, but at great depth. Coalinga is still the most northerly field of any consequence in the State. The Kettleman Hills have hitherto brought in nothing, although a

Apr 1, 1912

By ANTON GRAY

In considering the possibilities and costs of discovering minerals by exploration. mineral occurrences may be classified roughly according to the size of the target they offer to the various methods that have been used to search them out. This classification is advantageous because the methods of search which might be expected to give results in one case may be totally inapplicable in others. Mineral deposits for the most part have been found in groups, or districts, in which the individual deposits occur under the same general geological conditions and usually contain more or less the same metals. There are, also, what are apparently isolated de- posits, although if the truth were fully known many of these probably would not be isolated. These districts, such as the Belgian Congo copper fields, the California Mother Lode, and the Linares lead district of Spain, form the first division of my classification. The second division is formed of the individual deposits of these districts, for example, Kambove mine in the Congo, the Kennedy-Argonaut vein in California, and the Cruz vein at Linares. The third division consists of the separate ore bodies that make up the deposits

Jan 1, 1949

By CHARLES M. SCHWAB

THE ENGINEERS have placed this great country of ours in a preeminent position with everything pertaining to manufacture, metallurgy, and the kindred arts. We are second to none in the world. We have a country which, another speaker has said, God has endowed with such riches in coal and natural resources as no other country in the world. But rich as these are, there is one thing greater; the sturdy character, energy, and integrity of its people, which will make these great resources an influence in the world's developments. Great as are these resources and the energy and integrity of our people, there is one problem of our .engineering, which I term human engineering, that is of far more importance than the creation of machines and methods, with which you have been so successful in the past. Of what value is the skillfully devised machinery, the complex process, unless manned and operated by people whose heart and soul are in sympathy with the work they are doing and who have before them the giving of a complete day's work for a day's pay?

Jan 1, 1920

By A. T. Yu

The energy crisis and the resurgence of mining activities highlighted 1972-73. Added to the impetus for more effective materials handling systems has been the continued upward trend of inflation and labor costs. The need for addressing the fundamentals has led to the trend toward an overall systems approach to materials handling problems.1 The decision to move forward with large mining ventures such as the $150 million Hibbing taconite comple2 and the immense Carajas iron project must base themselves on indepth studies of a host of factors viewed in the context of an integral mine-transport-market system. What's important is that each ton of pellet or ore must be an economical commodity at the end users' furnace. The project can still be viaable even if certain components in the entire network appear to be individually costly.

Jan 2, 1974

By Albert R. Ledoux

Discussion of the Paper of Albert R. Ledoux, read at the Atlantic City Meeting, February, 1904. ARTHUR JARMAN, Sydney, New South Wales, Australia' (communication to the Secretary*): Some remarks upon. Dr. Ledoux's interesting paper from one who has not visited America may, I hope, be of interest to members. It appears to me that there is considerable difference between the training of the American and of the British mining engineer. Not that the subjects are different, but rather in the way in which they are handled, the illustrations being, as far as possible, mining in character. Colloquial instruction is unknown in English curricula, but could be introduced with advantage. Students here assure me that an hour of conversation is of tar more use to them than an hour of the best lecturing. In England a school-year of 6 or 7 months would be considered very short indeed; but Americans do not consider it so, for the reason that the rest of the year is mostly spent in acquiring practical acquaintance with their subjects in works or in the field, and the shorter courses, when coupled with this large amount of outside expe¬rience, produce an essentially practical-minded engineer, who is also more of a business man; whereas the English system, though excellent from a scholastic point of view, produces the theoretical rather than the practical man. British schools are waking up, however, and the practical aspect of the engineer's training is receiving greater consideration. Once launched upon his career, the American engineer is immediately called upon to exercise his self-reliance and ingenuity, if he is to retain the confidence of his employers; but what can we say of English directors? In how many cases is the engineer allowed to guide the destinies of his company? Witness several recent cases of gross waste of money upon unsuitable plants, and the perpetuation of prehistoric methods of

Mar 1, 1905