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By William N. Poundstone

To forecast the future of coal intelligently, one must first consider the market outlook. Coal can be used for many purposes, but currently about 25% of it goes into metallurgical coke, while 75% serves as fuel. Coal for metallurgical coke should show a modest growth for at least the next decade, primarily because of increased exports, but the important factor in the coal outlook is energy. Today, this country faces a serious shortage of energy, and its requirements are growing at an almost unbelievable rate. Last year the United States consumed 68 quadrillion Btu, or double the energy it consumed in 1950, and, if projections are correct, this figure will grow to 150 quadrillion Btu by 1990. Thus, in one working lifetime, the nation's energy consumption is expected to increase by roughly five times. The future of coal hinges on its degree of participation in meeting this energy need. The Federal Power Commission predicts that coal consumed by electric utilities will increase about 4-576 per yr, reaching 472 million tons by 1980 and 615 million tons by 1990. If this projection proves correct, 1980 consumption will be double that of last year and, even more startling, the utility industry alone will use more coal in 1990 than the entire coal industry produced in 1970. This is a tremendous increase, but in view of the projected energy growth, it is difficult to see how this country's needs can be satisfied with- out a coal contribution of this magnitude. Unless some new source such as solar energy is discovered, it must be assumed that the projected energy will come principally from the present-day sources-oil, gas, nuclear materials and coal.

Jan 1, 1971

By SIDNEY ROLLE

ACURSORY glance through the literature on the subject reveals that the ablest minds in the land are devoting themselves to the great question of labor, of which employment is one of the fundamentals. Volumes have been written and the end is not in sight. Employment management is today about in the position that efficiency was 15 years ago. During the early days of the war, and perhaps for a year or so before, labor was plentiful. As the war progressed and Europe drew on us for munitions, employers began to compete with one another for', all, classes of labor. Labor was difficult to obtain, wages rose, the labor turnover increased, and employers began to install employment departments, welfare plans, and all sorts of schemes, but the labor efficiency dropped. As the war progressed, greater and greater production was demanded. New factors were introduced each day. The government, labor unions, industrial councils, all tended, it seemed, to make the situation almost intolerable. Wages rose to fantastic heights, the cost of living rose higher and higher, and the efficiency dropped still further.

Jan 1, 1921

By David T. Day

IN 1897 I published a proposed explanation t for the variation in color and specific gravity of Pennsylvania oils. A resume of this subject was also presented at the First International Petroleum Congress, in Paris, in 1900. Since that time much experimental work bearing upon this explanation has been carried on by myself, in the United States Geological Survey, and under my direction, by Dr. J. Elliott Gilpin, Marshall P. Cram, and 0. E. Bransky, at the Johns Hopkins University. The experimental results thus accumulated seem to throw considerable additional light upon the variations in color and specific gravity of petroleum, as found in different parts of the world, and also upon the variations in chemical composition. Therefore, it seems as if a, summary of the evidence thus obtained might be of value to those members of the Institute who are interested in the examination of oil-fields. The summary is here presented for that purpose. The phenomenon has often been observed in many oil-fields that oils of different color, specific gravity, and chemical composition may be found within short distances of each other. A conspicuous example of this is the occurrence at Jennings, Welsh, and Anse la Butte, La., of petroleum chemically somewhat similar to Russian petroleum; that is, characterized by the presence of naphthenes. Another characteristic is the presence of considerable percentages of asphaltic compounds, sufficient in quantity to disguise the presence of solid paraffin wax, and perhaps also to render that paraffin wax more soluble * Published by permission of the Director of the United States Geological Survey. 1 Proceedings of the American Philosophical Society of Philadelphia, vol. xxxvi., No. 154, pp. 112 to 115 (January, 1897).

Jun 1, 1910

By Charles W. Goodale

In the course of the preparation of my paper on " The Occurrence and Treatment of the Argentiferous Manganese Ores of Tombstone District, Arizona" (Dam., xvii., 767), my attention was called to two patents which have been issued for the use of a diaphragm at the upper end of a Howell furnace, whose importance merits more than a passing reference. Mr. J. K. Pardee invented and first put into use in the Algon quin mill, at Philipsburg, Mon., in 1880, a ('new' and useful im provement in rotary ore-roasting furnaces," which was intended "to increase the capacity, effectiveness and working economies of such furnaces." The following description and accompanying figures are taken from the patent papers, dated December 21st, 1880: Fig. 1 is a side elevation of the feed-end of the Howell rotary furnace, with parts broken away, the better to exhibit my invention. Fig. 2 is an end elevation of the same. Fig. 3 is an end elevation of the same, showing a modification of my invention. In operating a furnace of this kind, of the capacity of one ton of ore an hour, it was found that for the best work the two fire-places (one at each end of the revolv ing cylinder) consumed about ten cords of wood every twenty-four hours, and that about twenty-fonr tons of silver-ore were introduced through the feed-pipe. It was also found that of the amount of ore, fully one-third did not go through the revolv ing cylinder, but went into the dust-chanibers about the feed-end of the furnace or cylinder, and this ore going into the dust-chambers was found not to be sufficiently chloridized for amalgamation, but had to be re-roasted. I then caused to be made, out of boiler-plate iron, a segment of a circle, the height of which was about one third of the diameter of. the cylinder or furnace, the circumference of the circle being smaller than the circumference of the furnace, so that about a half-inch space would be left between the plate and the furnace, when said plate or segment was in position. This segment or plate of iron was then fastened to the bottom of the feed pipe, as shown in the drawings, wherein A represents the revolving cylinder or furnace; B, the fire-place and dust-chambers at the feed-end of said furnace; C, the inclined feed-pipe, and D, the diaphragm, partition, or plate fixed within said furnace, A. With the diaphragm or plate, D, in the position shown, the furnace was run for about a month, and it was found that with the furnace in best working condition only four cords of wood every twenty-four hours were consumed, that no fire was required at the feed-end of the furnace, that not one-twelfth of the ore

Jan 1, 1890

By F. S. Crawford

IRON and copper are mined in the Lake Superior district. The iron mines of the district have the best safety record for that industry in the country as a whole, while the copper mines of the district rank second in two of the four years recorded (Table 1). In Utah copper comes mainly from open-pit mines, which enables that state to lead easily in safety. All of the Michigan production comes from deep under-ground workings. About 60 per cent of the iron miners in St. Louis County, Minnesota, are employed at open-pit mines; this favorably affects the combined open-pit and underground accident-frequency rate, as this county pro-vides most of the Minnesota-mined iron ore. In Michigan, however, there are few open-pit mines, the bulk of the production coming from underground mines, while all of the Wisconsin production, just across the state line from Michigan, is from underground mines. In spite of the fact that fewer mines in Michigan use the safer open-pit method, the iron-mining industry of that state maintained a consistently low record from 1931 to 1934; however, it was many points behind its nearest com petitor, Minnesota, with its much greater production from open-pit mines.

Jan 1, 1939

[Appalachian Petroleum Section: Walter H. Chapman, chairman; Jean Freeland, first vice-chairman; John Galpin, second vice-chairman; Jack L. Trittipo, secretary-treasurer. Meets 4th Tues., Humphreys Restaurant, Charleston. Balcones Section: William E. Richards, chairman; William C. Miller, Jr., first vice-chairman; Brantley G. Myers, second vice-chairman; Harold Vagtborg, Jr., secretary-treasurer. Meets 4th Wed., Petroleum Center Club, San Antonio. Big Horn Basin Subsection: Donald G. Davis, chairman; B. E. Yester, vice-chairman; J. F. Keleher, vice-chairman; Samuel N. Conley, third vice-chairman; William O. Snyder, secretary; M. J. England, treasurer. Billings Petroleum Section: N. J. Matthews, chairman; Guy J. Lookabaugh, first vice-chairman; George O. Ellis, second vice-chairman; Robert L. Spottswood, secretary-treasurer. Meets 3rd Tues., Turf Penthouse.]

Jan 1, 1961

By John A. Hosking

The recent activity of numerous foreign mining companies in the once flourishing tin fields in Cornwall, England has resulted in renewed interest in the evaluation of hypothermal tin deposits. These deposits are mainly narrow tabular bodies and are usually steeply dipping. They exhibit thermal zoning the mineralization changing from lead/zinc through copper to tin with depth. The tin zone virtually never exceeds 1,000' in depth and the ore shoots within this zone tend to be erratic and localized. The grade which is presently considered to be economic is about 0.7% Sn. , this means a concentration of about l% cassiterite (the only economic mineral) which, being twice as heavy as the gange, represents only. 5% of the lode volumetrically. Within the lode, only one third may reach this economic grade and values within the shoots can range from 100% cassiterite to zero over a few inches. The enormity of the problem of evaluating such a deposit has not been fully appreciated by the companies involved whose experience has, for the main part, been in larger and more predictable ore bodies. This paper attempts to put these problems into perspective and out- lines the useful applicatations of statistical and computer techniques. It also stresses the need for enlightened interpretation of data by men familiar with the problem and that even in this day and age, educated, intuitive deduction should not yet be relegated to the limbo of alchemy and witchcraft.

Jan 1, 1969

JAN. 17-In what appears to be a general spirit of post-Christmas emotional malaise, most adult Americans have bidden farewell to the Forties and turned with no perceptible enthusiasm toward the Fifties. The dying decade had started amid a phoney war which verged on the romantic, stirred the pulse with excitement and seemed far away. A phoney peace dominates the new decade. The romance is no longer there. Nor is the excitement. Nor is the distance. While most of the world preferred to be chronologically correct and hold off for another year before celebrating the demise of the first half of the twentieth century, the United States with true competitive enterprise and a great whirl of words scurried into the second half a year early. This undue haste might perhaps have been dictated unconsciously by a yearning for the pattern of history to be repeated. For many centuries, ever since Roman times, the second half of most centuries tended to be far more tranquil than the first half. In Washington, Mr. Truman got on both sides of the mid-century line with all the aplomb of a good politician. He told Congress early in January that "the state of the Union continues to be good," as it nears "the midpoint of the twentieth century." Later he spoke of moving forward into the second half of the century. He promised an infinitely better life for everyone, whichever side of the mid-century line, and reaffirmed his prescription toward that end: assistance for small businesses; more houses for the middle-income groups; tougher anti-monopoly laws, retention of rent controls; development of natural resources; better insurance against the hazards of old age, idleness and unemployment; better medical care and education, civil rights legislation; new labor relations law and production payments to support farm incomes. All this was to be coupled with suggestions on how to balance the budget. The bloody and confusing 1940's had brought to most men's minds a fear of the future such as they had not known for centuries, and Mr. Truman's objective is to temper that fear. Only time will tell whether the terminal point of such a philosophy would or would not belie the old English proverb citing inability to both eat and have a cake. Brave words to the contrary, the national budget persisted in sliding off into the red. The smell of further inflation was equally persistent. And just to impart a little more zip to the trend, the American Federation of Labor announced its intention of seeking "substantial" and "large" wage increases this year. The AFL forewarns of a business slump after June and a 10¢ an hr wage in¬crease for each worker "will be enough to reverse the prospective downward trend and start a rise." Thus it goes-"the way to halt a drop in demand for labor is to raise the price of labor." Elsewhere in the harassed world, beleagured individualists in New York achieved a local triumph of sorts for one of the freedoms denied by the Soviet and Nazi systems-the right of escape, some escape at least, from the servitude to decibels. Grand Central Station weakened perceptibly at Christmas on its 5-min commercials and bore down heavily on "Hark, The Herald Angels Sing," and on New Year's Day capitulated entirely by abandoning the broadcasting of canned music and slugs of advertising slogans. In Europe, M. Bidault's Assembly majority fell away and newspaper accounts of the incredible monstrosities of political trials beyond the iron curtain were supplanted by headlines marking the birth of Princess Yasmin. The latter was surrounded by Byzantine splendor but otherwise showed no apparent deviation from the accepted norm. In Western Germany, Dr. Adenauer began to speak up more boldly, and the whole fabric of Allied policy towards the defeated enemy further dossolved under the impact of rivalry with the Russians. In the Far East both the Americans and British seem somewhat embarrassed by Chiang Kai-shek's refusal to lie down. Dual thinking regarding the "squalid and useless struggle in the China seas" is such that newspapers give sympathetic accounts to an American ship running supplies to the Communists at Shanghai while calling for help for the recognized Chinese government in Formosa. And with Britain recognizing Communist China they may well have to team up with Russia against the United States to kick the Chinese representative off the UNO Security Council, the Far Eastern Commission and the Allied Council in Tokyo. Far Eastern policy has never been a bipartisan matter and as General Chiang retreated to his final redoubts in Formosa and Hainan, a number of Republicans pecked away at Administration lassitude. Senator Smith advocated the occupation of Formosa and Messrs. Hoover and Taft asked for use of the Navy. Mr. Acheson has stood firm, however, against military aid. None the less, a study will be made of the Generalissimo's chances. Mr. Truman has a private purse of $75 million for the Far East and some $94 million in frozen ECA funds. Mr. Truman will likely trade some of this money for support of new Marshall plan appropriations, always mindful, of course, of Mr. Acheson's plan to drive a wedge between the Chinese and Moscow, and his wish to avoid any revival of imperialist nightmares throughout the Orient. Mr. Acheson is very convinced that the victories of Communism in China will be short-lived and South Asia will not fall

Jan 2, 1950

By Charles Schwab

WHEN I leave this life, as an employer of labor there is no one thing that I want so much to be engraven upon my monument as the fact that I have been one of the men who have worked, whether with my brains or my hands, for the advance-ment of industry in the United States, and to be regarded, as I should like to be regarded by labor with love and kindly remembrance for our years of association. In my relationship with my employees, I have always contended that every man should be paid for what he does. I will not employ or be associated with any kind of labor of which the organization insists that a man shall receive a fixed sum of money for his day's wages, however poor or good his day's labor may be. What applies to the common laborer applies equally well to the management, the brains of an industrial establishment. I have always thought of industry as a three-legged stool, with capital, management and labor as the legs. All three legs of that stool must be there before that stool can stand up. If you take any one of those legs away, it is going to topple over. The. three must stand together for successful business accomplishment. I believe that a man who has his labor to sell, to put it plainly, has just as good a right to bargain for the best price for that labor as those who employ him. It is a perfect right for him to do so. If the government of our United States is right, our method of handling labor in our Bethlehem plants is right because it is representative and democratic. We have our labor elect delegates; elect representa-tives from their own ranks, who shall meet frequently. That constitutes, as. it were, the House of our great Congress in Washington, the industrial house. We have our management, who represent the Senate, who meet independently. Working men have learned to express their views freely as to whether they are treated fairly and whether conditions are right or wrong.

Jan 12, 1922

By J. Richard Maier

Short-range mine planning (less than five years) previously was accomplished using contour and isopac maps, pencil and paper, an abacus, and our lucky quarter. Through the use of both micros and mainframe time sharing, Glenrock Coal Company (GCC) has been able to virtually put the old equipment away (except the problem solving quarter). In the process, GCC has saved many man-days and eliminated the more tedious parts of mine planning, such as picking elevations off a map with an engineer's scale and repetitive calculations. These savings have allowed GCC to do a more extensive job of mine planning as well as offer more alternatives, making GCC better prepared for possible economic changes. Mine planning, simply, involves looking at what has been done and deciding what needs to be done using various constraints. The application of this concept is not as easy as it sounds. The need for experience and insight cannot be replaced by a machine, but machines can supplement a person's ability by doing the bookkeeping and the repetitive work. Through the application of computers and their accessories, GCC has brought mine planning to a more modernized state. The following paper will detail the development and use of one system as used at GCC. Please note: In the figures and tables following, some of the data has been altered to protect confidential information used in mine planning.

Jan 1, 1983

By Augustus J. Bowie

THE discovery of the auriferous cement gravel deposits in and near Deadwood Gulch, Lawrence County, Dakota Territory, in 1876, created a mining excitement, and rush to the Black Hills. Numerous ten and twenty-stamp mills were built on Deadwood Gulch ; Central City and the town of Deadwood sprang into existence, and became the centres of the mining industry of the Hills. Gold quartz deposits were subsequently discovered and located on a so-called mineral belt, extending from Whitewood Creek on the south, to Deadwood Gulch on the north. A northerly group of these quartz locations was purchased in December, 1877, by parties in San Francisco,, who formed a company, incorporated under the name of the Father de Smet Consolidated Gold Mining Company. This company immediately commenced the work of exploration. The deposits were proved to be extensive, and easily mined, but it was found that the ore, on an average, would not. yield more than $10.00 per ton* of 2000 pounds. At this time the cost of supplies and materials in the Hills was high. Miners' wages were $3.50 per diem, and custom mills charged $6:00. per ton. The successful working of mines on "the belt" necessitated cheap milling. The ores being of so low grade,† this could be accomplished only with large and economically running mills. To insure the greatest possible economy, the Father,& Smet mill * Up to December 31st, 1879; the de Smet mine had produced bullion of the value of $718,211.68 from 76,155 tons of ore, being an average value of $9.41 per ton. During the year ending December 31st, 1879, the mine produced 46,344 tons, which yielded $425,360.42, or $9.18 per ton. The total gross cost of working for the corresponding period, including deadwork, exchange, legal expenses, fete., wits $219,914.82. The yield of the mine for the year 1880 (Engineering and Mining Journal, February 5th, 1881), was $600,011, with total expenses of mining and milling, of $313,108. † The first 4083 tons extracted from the de Smet mine, were selected, yielding $62,783.97. The next 25,728 tons produced $230,067.24. The total 29,811 tons were weighed, and worked at custom mills. The yield of the first 409 tons from tine Golden Terra Mine was $11.44 per-ton.

Jan 1, 1882

By J. D. Meakin

J. D. Meakin (The Franklin Institute Laboratories)— In a recent paper Garofalo12 has shown that a number of experimental creep results can be represented by the empirical relation In this expression ? is the steady creep rate, s is the applied stress, and A is a constant at a given temperature; a and n are adjustable parameters. Garofalo has shown that Expression [6] approximates to a power function at low stresses and a simple exponential function at high stresses. Among the data used by Garofalo are the results we published for creep of copper." For these results we found that the best correlation was an exponential law with different parameters in the low-and high-stress region, respectively. That is, i = A exp qs where A and q have different values above and below a critical stress a,. In Ref. 13 are listed a variety of observations which support the proposal that different mechanisms are operative at stresses above and below a,, and it is not felt appropriate to repeat those observations here. The purpose of this note is to demonstrate that, although the representation used by Garofalo does fit the experimental data very well, this fit cannot be used to conclude that only one mechanism is rate-controlling. The argument is best made graphically and is illustrated in Fig. 9. The continuous curves 2 and 3 represent pairs of simple exponential functions which intersect at i = 10-5. The curve 2 closely resembles the copper results in that a change of slope of 2:1 occurs at i = 10-5; the two functions shown are in fact: e = 10-7 exp (1.150) and ? = 10-6&apos; exp (0.576s) For purposes of comparison, curve 3 represents two exponential functions with a change of exponent of 3:1 and curve 1 has the exponent 1.150 throughout. It is quite clear that a satisfactory straight-line fit is obtained on a Garofalo plot for all three curves. The curves represent processes which have either a single stress exponent or two ex- ponents in a ratio as high as 3:l. It must, therefore, be concluded that the ability to obtain a linear dependence between log i and log (sinh cyo) cannot be taken as evidence for a single activated process. In fact, to some extent the way the experimental points quoted by Garofalo lie about a best fit straight line on the log (sinh as) plot indicates that two processes are indeed occurring. This is seen in Figs. 7(c) and 8(c) of Ref. 12 where it is particularly evident that the experimental points deviate from the straight line in a manner similar to curves 2 and 3 of Fig. 9. It is, of course, recognized that the generally used exponential form is an approximation to the hyperbolic sine function which is not valid for exponents of less than 1.2, e.g., qs < 1.2. The only curve in Ref. 12 which is affected by this restriction is Fig. 6(b) where the deviation from a In ? vs s

Jan 1, 1964

By V. F. Marsters

SEEPAGES Of oil in Ecuador have been known for many years. The locality first to receive attention, and still worked in a modest way, lies on the north shore of the Santa Elena peninsula, between La Puntilla and Salinas. Operations were first conducted largely by local capital. Later, foreign companies acquired large blocks of land, where they have done considerable drilling. For details concerning present drilling activities in Ecuador, we are indebted to Leon Price, an American resident engineer of Ecuador. The information solicited, came to the author through the office of the American Consulate,&apos; with permission to use it. The coastal plain bordering the Province of Tumbes, Peru, continues to the northeast, but narrows on passing the Zarumilla River. From this, point northward it widens toward Santa Rosa. In fact, the pampas, as shown on the official Wolf map, correspond fairly well to the areal extent of the coastal plain as far as Guayaquil. This is shown in a general way on the accompanying map. The author understands that the Guayaquil embayment is bordered on all sides by the coastal plain, as recognized at Tumbes and farther southwest, and that it can be followed without a break as far north as Palmar. This view is supported by the mapped area regarded by Mr. Price as favorable or possible oil territory. Moreover the islands in the Gulf of Guayaquil are the same geologically as the coastal edge, being composed of Tertiary sediments. The author understands also that Tertiary formations occur north of Palmar. According to a report by Mr. Cardon, of Guayaquil, Tertiary sediments are exposed in the region of San Francisco and extend to and beyond Pta. Calera. There is also reason to believe that at least the lower part of the valley of the Santiago River is occupied by Tertiary sediments, which probably border the coast line and extend into the River Mira basin, and into Colombia.

Jan 7, 1922

By G. Hileman

At present there are three fields in commercial exploitation in the Argentine. In order of production they are: (1) Comodoro Rivadavia, (2) Salta, (3) Plaza Huincul. Comodoro Rivadavia.—This field is on the coast of the Territory of Chubut in the southern part of the republic. It is being developed and exploited by Yacimientos Petroliferos Fiscales, the government oil entity, and five private companies. The immediate coastal portion of the field, which embraces the original discovery area, is almost completely developed. This is especially true of the original government reserve and one private property. The Y.P.F. has extended its explorations and developments westward to Escalante, 27 km. distant on the state railway. This extension has been the most active and prolific section of the field for the past three years. The government has also continued its exploration drilling in the region lying south of Colonia Sarmiento and east of the Rio Senguer. Private companies have not been able to extend their operations beyond the claims they had in process of acquisition in 1924, when the government reserve areas were established. The Y.P.F. is the major producer of the field and employs modern methods and appliances. Practically all its drilling and pumping operations are electrically operated, from a central power plant. In view of t&apos;he scarcity of water supplies, this facilitates operations and is an economic factor of considerable importance.

Jan 1, 1934

By William Phillips

THE earliest mention of the sulphur deposits in what is now Culberson County, Texas, seems to be contained in "Explorations and Surveys for a Railroad Route from the Mississippi River to the Pacific Ocean, United States War Department, 1853-54." Captain John Pope (he was not commissioned Captain until 1856) had charge of one of the divisions of the Survey. In his report on the geology of the route, William P. Blake noted the analysis of a greenish earthy powder from the bed of Delaware Creek, at the springs, which contained 18.28 per cent. of free sulphur. The report states: "From the chemical examination of the waters of the spring, by Dr. Booth, it appears that chloride of sodium is the principal solid ingredient, but considerable quantities of sulphide of sodium are present. * * * * * The waters from the springs examined by Dr. Booth were alkaline, but it is possible that some of the springs are acid; and in this case the precipitation of sulphur would ensue on the mixture of the acid waters with those charged with alkaline sulphurets and the origin of the deposits of sulphur would he thus explained." This is the first reference to the existence of sulphur in that region, the first mention of the character of the water found there and the first suggestion as to the&apos; origin of the deposits. The possibility of the existence of acid waters was confirmed by E. M. Skeats, nearly 50 years later.1 In this publication, Skeats says that the water from the sulphur deposits in Section 11, Block 114,, Township 5, contains 79.08 grains of free sulphuric acid per gallon. This locality is about 13 miles (21 km.) south of Delaware Creek and about 35-miles (56 km.) east of the Delaware Springs. The next published reference to the existence of sulphur in Trans-Pecos Texas is in the First. Annual Report of the Geological Survey of Texas, 1889, page 226, where W. H. von Streeruwitz mentions that sulphur is found in that region, but gives no further information. In the

Jan 9, 1917

By Wilbur A. Nelson

In 1839, Gerard Troost,1 the first State Geologist of Tennessee, reported the occurrence of zinc ores in east Tennessee, in connection with the iron ores at Embreeville; in 1844,2 he refers to the zinc deposits of east Tennessee, especially the apparently rich deposits occurring in Jefferson and Claiborne Counties, while his ninth annual report 3 s a description of the zinc deposits of Jefferson County and a description of the most improved processes by which zinc is extracted from its ores. Yet, only during the last few years have these ores been successfully worked. As far as can be learned, prior to the systematic development of the Mascot district in 1911, no large-scale or successful operation of any of the zinc deposits was carried on. But in that year, after several companies had made considerable progress in developing the Mascot area and had proved a relatively extensive body of low-grade sulfide ore, the American Zinc Co. entered the field. It introduced modern methods of prospecting and mining and from the first was successful. Too great credit cannot be given this company for its pioneer work in a previously unimportant field. Throughout the history of its operations, the American Zinc Co. has confined its efforts to underground mining of the sulfide ore, sphalerite. This company has found that successful results in zinc mining in east Tennessee can be achieved only by expending large sums in prospecting and blocking out bodies of pay ore in sufficient magnitude for large-scale operations. At Mascot are located the mines of the American Zinc Co. of Tennessee, the mines being situated along the Southern Railway in the Ilolston River Valley, Knox County, about 13 miles northeast of Knox-ville. At first only open pits, which were worked for oxidized ores, were operated and the production was small. In 1900, the Roseberry Zinc Co. was organized and sank to a depth of 187 ft. what is now known as No. 3 shaft of the American Zinc Co. The upper 30 ft. was in residual clay,

Jan 1, 1925

By AIME AIME

WHETHER by the Mohawk Trail, Sound steamer, air plane, railroad or any other route or mode of locomotion, all roads will lead to Boston the week of National Metal Congress, Sept. 21-25. The Institute of Metals and Iron and Steel divisions of the Institute are then to meet jointly at the Hotel Statler, and the American Society for Steel Treating, the American Welding Society, the Society of Automotive Engineers and the Iron and Steel Division of the American Society of Mechanical Engineers present carefully planned programs at their respective sessions. The National Metal Exposition will be held on Commonwealth Pier.

Jan 1, 1931

Only the coal of the Sunnyside district in Carbon county is coked. Two companies, the Utah Fuel Company and the Columbia Steel Corporation, operating adjoining mines at Sunnyside and Columbia, produce coke. The Utah Fuel Company has 81 9 beehive coke ovens at Sunnyside. Only 350 ovens are being operated at the present time, largely because the smelters which had been using Sunnyside coke changed their equipment from blast furnaces to reverberatory furnaces

Jan 1, 1925

By Richard D. Mills

Throughout the mining industry, many companies perform sophisticated business and financial analyses of proposed capital investments. However, once the project is approved, it is never reevaluated. At best, there is an attempt to control capital costs and minimize overruns. The post-installation appraisal, a formalized review of investment performance, may prove helpful. Typical Project Review A typical capital investment is approved after business and financial benefits have been reviewed with management.* The financial data shown to management often include a net income statement, cash flow analysis and summary economic data similar to those shown in Table 1 overleaf. These financials report the expected impact of the project on the corporation financial statements. This project is a rudimentary example of a capital investment decision. An actual project would undergo a more sophisticated analysis incorporating depletion benefits, deferred taxes and a detailed cost breakdown. The example project has several financial benefits that could result in management approval. For example, it provides an immediate net income benefit to the company, generates positive cash flows every year of the project life and has a discounted cash flow rate of return of 25 percent. However, it also has the disadvantage of a long payback period. A sensitivity analysis would show which areas of the analysis have the greatest impacts on profitability. Post-Installation Program Objectives The post-installation appraisal goes beyond the analysis shown in Table 1 by comparing actual results to those projected in the original economic analysis. The post-installation program has three primary objectives: 1. To provide a periodic performance review of major spending programs. 2. To review decision-making and evaluation procedures. 3. To provide a means of controlling individual project investments. The first major function of the post-installation program is the periodic review of actual performance of projects and investment programs, identifying those factors which proved critical to the health of investments. This review will serve to keep management abreast of progress, provide a comparison of actual performance against expectations, and provide valuable information that can be used for improving future economics. The second major function of the program is to perform a continuous review of the decision-making process. This includes testing of evaluation procedures, forecasting techniques, and logic used in making decisions. An information system should be set up whereby original evaluations and historical performance data gathered under the appraisal program are documented for use by evaluators and management when assessing past and future investment proposals. Such data should be particularly useful in evaluating new and developing types of operations and in activities where companies repeatedly reinvest. The primary purpose of this feedback system is to sharpen estimates to assure that they are realistic and attainable. The appraisal program also provides assurance that consistent evaluation procedures are being used throughout a company, leading to improved procedures

Jan 1, 1985

By JOHN BIRKNBINE

MR. NEILSON was born Aug. 12, 1842, at Philadelphia, Pa., where he died Dec. 30, 1906. His business career began with his graduation, in the class of 1862, from the Polytechnic College of the State of Pennsylvania. For a short time after graduation he was instructor in mathematics at the college, and then became associated with Messrs. Booth & Garrett, chemists, of his native city: In 1867 he was sent to the Adirondack mountains to care for mining interests of the late Jay Cooke, and spent about three years there, operating the forges at Elizabethtown, Essex county, N. Y. He also prepared an interesting monograph on Catalan forges and their operations. In 1868 he published a chart showing the material progress of the United States, and the cost of certain staple products during a series of years, which is believed to be the first of its kind issued in this country. In 1870 he made a trip to the Pacific Coast, prior to entering the service of the Pennsylvania Steel Company. In 1871, when the Logan Iron & Steel Co., of Burnham, Pa., failed, Mr. Neilson was appointed receiver, re-organized the company, became&apos; its General Manager, and spent more than four years in this work. In the meantime, he became interested in the Freedom forge of the same place, and, with Mr. Wm. Burnham and Mr. Milton Brosius, laid the foundations for what is now the Standard Steel Works. From Jan. 1, 1877, to April 1, 1890, he was General Manager of these works, and closely associated with the Baldwin Locomotive Works. In 1878 he was in charge of the first consignment of Baldwin locomotives to Europe, which, with a picked crew of men from Baldwin&apos;s, he took to Eydtkennen, Russia, and placed in service. In 1890 he resigned from the Standard Steel Works and ac-

Jul 1, 1907