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By B. Silliman

THESE ores occur in the Laurentian rocks in the town of Clifton, St. Lawrence County, New York. The Clifton Mining Company have opened these magnetites upon their estate of 23,000 acres, on the waters of the Grasse River, an affluent of the St. Lawrence, which flows for about nine milt",3 across the estate, exposing a section of the formation, and affording ample water-power at numerous points. In approaching this district from De Kalb Junction, upon the Watertown and Ogdensburg Railway, the observer passes from the zone of the specular ores, which abound to a great extent in Jefferson County, across a belt of non-metal-liferous limestones, continuing for some miles intermingled with metamorphic rocks, and gradually giving place to heavy beds of granitic and porphyritic gneiss, the weathered surfaces of which present a gray and rough appearance, from the washing out of the feldspar; leaving the quartz very prominent, and completely disguising the real character of the rock, which, when freshly broken, has a lively reddish appearance from the predominance of flesh-colored and red feldspar. Beds of fine-grained quartzite appear also intercalated in the granitic gneiss. These are the dominating rocks of the magnetite region, but the magnetite is always found, so far as the speaker's observation extended, associated with beds of calcite, carrying hornblende, black and green, biotite, and brown garnet interspersed with yellow and magnetic pyrites. The strike of these rocks is about northeast, and their dip about 40' to 45' southeast

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Jan 1, 1956

By S. F. Shaw

Fox some time it has been more or less recognized within the industry that a scientific control of flowing wells would result in increased production and a greater ultimate recovery of oil. About two years ago it was proposed by the writer that this control should follow principles worked out by him while handling large air-life operations. In the case of wells that had ceased to flow where a large quantity of liquid was present, the use of these principles would result in a large increase of production by using compressed air or gas to flow the well; in the case of a well flowing naturally it would take the form of controlling the gas associated with the oil, resulting either in immediate increase of production or in a reduction of the gas consumed per barrel of oil, and in both cases would result in a greater ultimate recovery from the sand. The Roxana Petroleum Corp., appreciating the advantages to be obtained by a scientific application of the principles of the air lift to oil wells, recently engaged, for a limited time, the services of the writer to work out some of the problems involved. The work was carried out at Braman, Garber and Tonkawa in Oklahoma, and at Oxford in Kansas. Following some suggestions of the writer a well was also equipped by the Roxana company at Smackover by A. S. Field.

Jan 11, 1926

By Robert Maddin

The application of electrolytic polishing of metals introduced a new technique for preparing surfaces, especially for single crystals. This procedure generallv has been assumed to eliminate the strain introduced by mechanical polishing and to result in a more truly representative surface, particularly in the case of soft metallic materials. However, apparently little information is available concerning specific characteristics of a surface prepared electrolytically. The conventional method of mechanical polishing is known to produce a layer of distorted metal which is usually removed by a suitable chemical etchant. To what depth the strain introduced by mechanical polishing penetrates into the lattice is still obscure. The present investigation illustrates the apparently anomalous appearances of glide ellipses on electrolytically polished surfaces of aluminum single crystals. Experimental Procedure and Results Aluminum single crystals, 99.975 pct pure, remaining from the investigation of Found,' were polished electrolytically using a solution of fluoboric acid and a low current density. Laue back-reflection technique, interpreted after the manner of Greninger,2 was used to determine the orientation and the specimen axis rotation of the crystals. Three flat surfaces about 4 mm wide parallel to the specimen axis, one perpendicular to the theoretical slip direction and the other two 120° apart, were polished mechanically and repolished electrolytically. A tensile load was applied using a Southwark-Emery tensile machine at a rate of about 40 lb per min. Elongation was measured by noting the initial and final gauge lengths. X ray diffraction was used to obtain the usual x and X values in order to calculate the elongation and shear by plotting stereographically the specimen axis rotation by means of the Schmid-Boas formula.³ In Table I may be found the value of the gauge diameter, measured elongation, calculated elongation and shear for the crystals investigated. Fig I shows the initial and final positions of the specimen axes of the crystals. At a low magnification the slip lines developed on specimen Al-I appeared straight and rather evenly spaced. However, at a high magnification, the slip lines were seen to be composed of small markings which were present throughout the length of the specimen (Fig 2). The distance between the markings was fairly constant and their directions all parallel to One another' Fig 3-57 photographed On different surfaces of the specimen, illustrate the interesting appearance of these lines. It may be noticed from Fig 4 that the markings, which present the appearance of

Jan 1, 1949

By T. Sterry Hunt

IT is now five years Since I called the attention of the Institute to the industrial importance of the coal and the iron ores of the Hocking Valley in Southeastern Ohio, and in a pamphlet on the region published Soon after, in 1874, endeavored to resume the principal facts then known respecting it, including the observations of the geological survey of Ohio, made and published up to the time by Professors Andrews and Wormley, together with an estimate of the probable future of the region, and its relations to the coal and iron markets of the country. Since that time the labors of the Geological Survey have included a further Study of the coal by Prof. Edward Orton, the results of which will be awaited with much interest. I may say from my knowledge of them, that while confirming the general conclusions of his predecessors, he has been enabled to add much to our knowledge as regards the correlation of the various members in different parts of the coal-field, and to Show more clearly the positions and the importance of the ore-beds in the Hocking Valley region. The only ore mined in that vicinity previous to 1874, was below what is called the Great Vein or No. VI coal, and to the west of what is known as the Hocking Valley coal-field, and although experiments in a few furnaces in the State had Shown that this coal could be used with advantage in iron-Smelting there was not a single blast furnace within the field. My observations at that time, however, impressed me with the abundance of iron ore, not only below but above this important coal Seam, and I then ventured to express the opinion that this region, from its cheap and easily mined Smelting-coal, its native ores and limestones, and its geographical position and relations to the great markets of the West, and to the supply of rich iron-ores from Lake Superior, was destined at no distant time to become a great metallurgical centre, where iron could be made more cheaply than at any other equally accessible point in the country. The object of the present communication is to report progress, and to State how far my observations made in the region last month have justified the predictions of 1874. The five years which have elapsed have been, as all know, most unfavorable to the iron trade, and especially to new enterprises in untried regions, yet they have not passed without important industrial developments in the Hocking Valley, where not less than thirteen blast furnaces have been erected

Jan 1, 1879

By W. H. Hough, P. B. Leavenworth

Development during 1942 led to the discovery of 26 new fields in the Texas Gulf Coast, as compared with 27 during 1941. Of these, 19 are classed as oil fields, 4 distillate fields, and 3 gas fields. Production from the new fields amounted to 614,467 bbl. to October 1942. Producing Sections.—Discoveries in I942, compared with the previous two years, classified by producing formations, are shown in the following table: It is interesting to note the increase in Wilcox discoveries due to the extensive geophysical campaign that has been con. ducted since 1940. Drilling.—During the year 688 wells were drilled, of which 574 produced oil or gas and 114 were dry. This represents a considerable decline in activity over the previous year, when 1405 wells were drilled in the area, of which 1081 were producers and 324 failures. Jackson County continued to hold the lead, with 222 wells completed. Production.—-Despite curtailed drilling, production amounted to 118,009,451 bbl. for 1942, indicating a slight increase over the 113,726,893 bbl. produced during 1941. The statistics in Tables I and 2 include condensate and distillate as oil production, because many Gulf Coast fields produce oils with a wide variation of specific gravities, all of which are commingled in pipe lines. Table 3 shows by counties most of the activities referred to. The number of wells drilled includes only field wells; not wildcats. Outstanding Fields of 1942 The Texas Gulf Coast covered in this report has 270 more or less active oil and gas fields, including the new discoveries of 1942. Of these the most outstanding from the standpoint of production are listed in Table 4. Each of these fields produced one million barrels or more during 1942. Some of the fields where new extensions are occasionally referred to as separate fields, such as West Columbia and New West Columbia, or Thompson and South Thompson, are combined to give a more accurate outline. Two interesting facts may be noted from this list of some 26 oil fields: (I) that the Lolita field, Jackson County, is the only discovery since 1938 to produce more than one million barrels annually, although there have been 79 discoveries since Jan. I, 1940; (2) that 20 of these 26 fields produce from the Frio. New Fields ALief, Harris County.—Pure Oil Company's No. I Mike Albanese was drilled to 8637 ft. in Cook Mountain shale. After numerous tests the well was completed on Apr. 20, 1942, in a Yegua sand at 7919 to 7924 ft. for 54 bbl. of 52' gravity oil and 3,335,000 cu. ft. of gas through

Jan 1, 1943

By W. H. Hough, P. B. Leavenworth

Development during 1942 led to the discovery of 26 new fields in the Texas Gulf Coast, as compared with 27 during 1941. Of these, 19 are classed as oil fields, 4 distillate fields, and 3 gas fields. Production from the new fields amounted to 614,467 bbl. to October 1942. Producing Sections.—Discoveries in I942, compared with the previous two years, classified by producing formations, are shown in the following table: It is interesting to note the increase in Wilcox discoveries due to the extensive geophysical campaign that has been con. ducted since 1940. Drilling.—During the year 688 wells were drilled, of which 574 produced oil or gas and 114 were dry. This represents a considerable decline in activity over the previous year, when 1405 wells were drilled in the area, of which 1081 were producers and 324 failures. Jackson County continued to hold the lead, with 222 wells completed. Production.—-Despite curtailed drilling, production amounted to 118,009,451 bbl. for 1942, indicating a slight increase over the 113,726,893 bbl. produced during 1941. The statistics in Tables I and 2 include condensate and distillate as oil production, because many Gulf Coast fields produce oils with a wide variation of specific gravities, all of which are commingled in pipe lines. Table 3 shows by counties most of the activities referred to. The number of wells drilled includes only field wells; not wildcats. Outstanding Fields of 1942 The Texas Gulf Coast covered in this report has 270 more or less active oil and gas fields, including the new discoveries of 1942. Of these the most outstanding from the standpoint of production are listed in Table 4. Each of these fields produced one million barrels or more during 1942. Some of the fields where new extensions are occasionally referred to as separate fields, such as West Columbia and New West Columbia, or Thompson and South Thompson, are combined to give a more accurate outline. Two interesting facts may be noted from this list of some 26 oil fields: (I) that the Lolita field, Jackson County, is the only discovery since 1938 to produce more than one million barrels annually, although there have been 79 discoveries since Jan. I, 1940; (2) that 20 of these 26 fields produce from the Frio. New Fields ALief, Harris County.—Pure Oil Company's No. I Mike Albanese was drilled to 8637 ft. in Cook Mountain shale. After numerous tests the well was completed on Apr. 20, 1942, in a Yegua sand at 7919 to 7924 ft. for 54 bbl. of 52' gravity oil and 3,335,000 cu. ft. of gas through

Jan 1, 1943

By AIME AIME

THE Iron and Steel Division and the Institute of Metals Division are laying plans for a rousing meeting the week beginning Sept. 21 in the land of the bean and the cod-at Boston. The two divisions are collaborating with the American Welding Society, the American Society for Steel Treating, and the Iron and Steel Division of the A. S. M. E., to have technical sessions of widespread interest and social affairs that will compare with the best of previous years. In connection with the meetings an exhibition of production and testing equipment, heat-treating equipment, furnaces, welding equipment, and metal products will be held on Commonwealth Pier all week, where those attending may see the latest developments in the field of their own work.

Jan 1, 1931

By B. DE MARE

THE No. 6 open-hearth furnace at the plant of the Worth Steel Co., Claymont, Del., is the first to be rebuilt according to the Kuehn system. This as well as the other five furnaces at Claymont, has a nominal capacity of 75 tons, but the actual charge is about 242,000 lb. No hot metal being available, the pig-iron is charged cold. Oil of low grade with an asphalt base is used as fuel. These two items have to be kept in mind when discussing the actual fuel consumption. Careful records have been kept covering a five weeks run and the following is a brief summary of them The time required to heat the furnace preparatory to charging from the time a wood fire was started until charging commenced was 36 hours. This, I understand, is much less than with furnaces of standard design. The draft of the furnace, as shown by a gage in the stack-flue, is 1.25 in. The maximum draft with new checkers on former runs was 1.50 in., this draft gradu¬ally decreasing as the checkers closed up. Both of the first helpers claim the present draft is all they need for the proper working of the furnace, and, as with the Kuehn regenerators the draft remains practically the same from beginning to end of a run, this is satisfactory.

Jan 1, 1929

By E. O. Wagner, V. F. Parry, W. S. Landers

Development work has shown that the yield of primary tar from coal is proportional to the heat in the volatile matter of the coal and that the yield of tar from noncoking coals may vary from 10 to 45 gal per ton on the ash-free and moisture-free basis. Pilot plant operations have proved that 100 to 135 pct of the bench-scale carbonization-assay yield of tar can be obtained. FOLLOWING investigations by the Denver Bureau of Mines on drying fine coal in the entrained state,'. ' Texas Power & Light Co. employed the fluidized technique to upgrade Texas lignite for use in power plants. Because of the rapidly rising cost of natural gas in Texas the company agreed to cooperate with the Bureau of Mines in studying further the upgrading of lignite by low-temperature carbonization, since potential value of the tar would help offset the cost of fuel. Considerable interest was aroused, therefore, when Aluminum Co. of America decided to use dried lignite in its 240,000-kw power plant at Rockdale, Texas, operated by Texas Power & Light. Carbonization of coal before burning in a power plant is not new. Plants in Germany have been operated for many years on carbonized brown coal and lignite briquets produced in large integrated plants. Large-scale experiments in carbonizing pulverized coal with hot flue gases were made 30 years ago at Milwaukee," and many inventors have proposed other processes. In the U. S., technical and economic problems have prevented successful operation of large plants on carbonized coal. but new techniques of handling solids in fluidized beds may overcome these difficulties, particularly if the higher volatile noncoking coals are used. Any bituminous material will decompose when heated to about 900°F to yield primary tar, gas, and char. The quantity of tar obtained from various coals depends on their rank and volatile content and to some extent on rate and method of heating. The liquid products derived from thermal decomposition of peat, brown coal. lignites, oil shale, and noncoking bituminous coals can be easily liberated by rapidly heating these materials in a fluidized bed at about 500°C (932°F). Since it takes only a few minutes to heat small particles of fuel to carbonizing temperature in a fluidized bed, processing plants can be built to handle up to 50 tph at relatively low cost. The pioneering development work being conducted at Rockdale, Texas, by Alcoa and Texas Power & Light will solve many engineering problems of such operations. The Bureau of Mines at Denver has studied the carbonizing properties of several hundred coals by small scale assay at 500°C, deriving a simple correlation between the potential yield of tar and the proximate analysis. This correlation, shown in Fig. 1, compares the heat in the volatile matter of the coal with the potential yield of primary tar. The yield of primary tar varies from 12 to 50 gal per ton of pure coal." About the same amount of heat is needed to * MAF equals moisture-and-ash-free basis. distil any dry coal at 500°C, and the time required to carbonize a given particle size is about the same for any coal. It is therefore obvious that coals rich in volatile matter will show the greatest profits when processed. Texas lignites are rich in volatile matter, which contributes some 5700 Btu per lb of MAF coal, and the potential primary tar and oil yield from this lignite averages 12 pct by weight or 27 gal per ton from the pure lignite. Texas lignites are considerably richer in potential tar than lignites of North Dakota and Montana. During 1950 the Bureau of Mines conducted many experiments on carbonizing fine dry coal in the entrained state, publishing a report4 n major features of pilot and commercial-size units required to carry out the process. Additional experimental work has been done at Denver and the pilot plant has been improved, particularly the facilities for studying removal of fine dusts from tar vapors and gases at high temperatures by electrostatic precipitation. A number of materials have been carbonized, including sawdust, peat, brown coal, Brazilian oil shale, lignites, and the lower rank bituminous coals having noncoking properties. Straight coking coals cannot

Jan 1, 1957

By Sam Harlan

At intervals during the past several years the oil industry has been confronted with the problem of forestalling crises in its affairs. These crises have been reduced to periods of depression which, fortunately, the industry has been able to survive. Under the existing competitive practices which control the producing division of the industry it apparently has been proved that the best efforts logically to curtail development and producing operations are inadequate for effecting a true production balance and the consequent stabilization of prices. The industry is awakening to the fact that the situation warrants revolutionary thought and at this time it is looking for a permanent solution of its problem in a general plan for unit development and operation such as the one first proposed by Henry L. Doherty. Mr. Doherty's proposal was designed not only as a means for stabilizing the industry as a whole, but its principles involve very definite potential benefits for the average individual operator and royalty owner as participants in pooled projects. The benefits to these individuals would be derived from maximum recovery, the maximum utilization of natural energies, the minimization of development and operating costs, enhanced values of leases and royalties through improved efficiencies and ultimate yields, improved earnings through stabilized crude oil prices, etc. This plan was revolutionary to the industry's practices and at the time was rejected, but it now appears that the development and operating policies for new properties are continually approaching the ideal of the original plan. Oil companies are constantly extending their efforts to improve all factors that have a bearing on the costs and efficiencies of their operations. These efforts may, in some degree, be a normal outgrowth of the industry's progress, but the forced consideration of market conditions, the growing appreciation of the importance of regulating operations for maximum ultimate economies and the depreciation of the old principle of maximum flush at any cost, come from a new school of thought which has been stimulated by the immediate pressure of overproduction and

Jan 1, 1930

By John Birkinbine

The experience of the past five years has furnished opportunities to study and to partially explain the operation and some of the causes of the short blast of Warwick Furnace at Pottstown, Pennsylvania, as described in the paper read at the Lake Superior Meeting, in August, 1880.* The many inquiries concerning the details of furnace operation which followed the publication of the paper, and the expressed desire of furnace managers to be informed as to future operations of this plant, have encouraged the preparation of the following data. To make the record continuous, and add to the value of both contributions, the present paper commences where the review of a short blast of Warwick Furnace ended, and includes the data of another short blast of two months, and a subsequent continuous campaign of nearly five years, which, by comparison, we shall designate as "the long blast." Frequent visits to the plant in the five years, during which its operation could be studied, and correspondence with the manager, Mr. Edgar S. Cook, have given a knowledge as to general features and details, and the courtesy of the officers of the Company which has given free access to the books of record permits the presentation of data which it is believed will be welcomed by furnace managers. Interest will undoubtedly be increased by the remarkable results which Mr. Cook has achieved chiefly with anthracite coal in a furnace whose details of construction will scarcely be generally admitted as embodying advanced ideas, its height being but 55 feet, with a bosh diameter of 15 feet 6 inches, its bosh-slope comparatively flat, its crucible smaller than the average, and the heat of the blast never reaching 1000' Fahrenheit. At present writing the credit of the best anthracite blast-furnace practice recorded in our Transactions is conceded to be that pursued by Mr. Fackenthal, at the Durham furnace, and Mr. Cook, at War-

Jan 1, 1886

By Richard S. Smith

THAT management and purchasing have developed a more closely-knit working relationship is evidenced by the fact that more and more companies are appointing the heads of their purchasing departments to the position of vice president. This is concrete and dramatic indication that management is utilizing the knowledge and experience gained in this department and working with it at the policy-making level. When the engineering department is at the planning stage of a project, the purchasing department is being asked to sit in on the preliminary discussions . . .today. One result of this cooperation is that drawings and plans will reflect the current situation on material availability and another is that standardization will be incorporated in new construction and equipment.

Jan 1, 1958

By AIME AIME

As already announced in the January Bulletin, this publication will be issued during the coming year monthly instead of bi-monthly as heretofore. Among other reasons for this change, it is desired to effect thereby the earlier transmission to members of important papers, lists of candidates for membership, and other items of timely information. Spokane Meeting and Excursions. Further details of the' 97th meeting of the Institute have been sent to members in the Circular of May 8, 1909. For, convenience of the members a summary of the additional in¬formation is here presented. A special train of Pullman cars will leave Chicago about September 15. This train will be side-tracked at all places visited, and the sleepers will be available for lodging and the dining-car for meals during the entire trip, except during the Yellowstone Park tour. The general. cost of the trip per member will be $300, which includes transportation, berth, and meals for the entire trip from Chicago back to Chicago, almost 6,000 miles, and the tour through Yellowstone Park, occupying in all about 30 days. Special accommodations on the train will be furnished at the following, rates

May 1, 1909

By H. E. Kramm

(New York Meeting, February, 1919.) DURING the summer of 1911, I had the opportunity to study in detail the geological conditions of what is known in northern California as " Harrison gulch," in Shasta county. Though the district, as a whole, that is, the western part of Shasta and the eastern part of Trinity county, has contributed during the last 15 years a considerable share of the gold-production credited to Shasta county, very little is known of its geology, perhaps because the country is covered with a dense growth of brush which makes exploration and prospecting extremely difficult. Topographically the district presents a succession of ridges trending approximately N-S.; and alternating with deep narrow canyons. The drainage is partly into . the Sacramento, partly into the Trinity river. Climatic conditions in summer time are almost ideal. It is true, the thermometer may climb to 115°, but the air is dry and the heat is bearable, especially as the nights are always cool. It seldom rains during the summer months, and creeks and springs dry out towards the end of the summer. The winter is severe, lasting from November to April, and usually a thick layer of snow covers the mountains. By reason of the character of its gold-deposits, the region is known to miners as "the pocket country." It contains a series ?of eruptive rocks intruded into slates, cherts, limestones, and conglomerates. Dikes, laccoliths, and batholiths are frequent. In a day's ride it is possible to find all the common igneous rocks from the very acid to the very basic. Serpentines are especially abundant.. The sedimentary rocks are, as rule, broken and shattered as well as folded, and show the effects of intense metamorphism. ? Pocket-hunters " speak of the contact of diabase and slate as the ? pocket-contact." Some rich gold-pockets, however, have also been found in the diabase.

Jul 1, 1912

By John M. Warde, Eileen P. Burke

ORES of manganese and chrome have a high order of strategic importance, both metals are basic to the metallurgy and usefulness of steel, the fabric on which our economy rests. Looking beyond the current recession and short range picture of oversupply in these ores, this review attempts to answer the following questions regarding the longterm outlook for these key commodities: By 1970, what will be the probable demand here and abroad, what are future supply prospects, and what effect is the USSR likely to have on the world market? (See summary forecast on facing page.)

Jan 8, 1958

By H. B. Pulsifer

.ABOut 1.5 varieties, or tnodifications, of the best rnagnesiurn available were prepared and subjected to etching tests, then examined for micro-structure. Of the 30-udd etching reagents that were tried, nearly half, mostly ammonium salts, etched the metal satisfactorily. The surfacing and etching of magnesium is shown to be a very simple and quick operation. The density and hardness of magnesium were determined. The most interesting new observations relate to the finding of the hexagonal etch figures, the crystal laminations, and the fact that the metal is plastic, cold, when restrained or quickly deformed. Under slowly applied pressule cold metal deforms slightly, then shears to fracture without plastic flow. The chief structural features of magnesium arc presented in two reduced photographs and 30 photomicrographs. Materials Tested There are only two sources in the United States from which new metal can be procured: the American Magnesium Corpn. and the Dow Chemical Co. No pronounced structural or property differences in the metals from these two companies were disclosed by the work of this investigation. The following materials were obtained from the manufacturers: 1. Massive crystals of distilled metal (American Magnesium Corpn.). 2. Rods of hot-extruded metal, ½-in. squares and 5/8-in. rounds (American Magnesium Corpn.). 3. Sheet magnesium, 0.005-in. thick (American Magnesium Corpn.). 4. Cast stick metal, 13/8-in. dia. (Dow Chemical Co.). 5. Magnesium-aluminum alloy, hot-rolled plate, ½-in. thick (American Magnesium Corpn.). From these materials, were prepared: 6. Sections from a furnace-cooled ingot made from clistilled crystal. 7. Cold-strained pieces from (6), (4) and (2). 8. Pieces cold-squeezed to fracture from (6), (4) and (2). 9. Hammer-struck pieces from (6), (4) and (2). 10. Steam-hammer struck pieces from (6), (4) and (2). 11. Sections from furnace-cooled ingot of the magnesium-aluminum alloy.

By Thomas N. Walthier

Throughout the world, governments are placing increasingly severe restrictions on mineral exploration and mining activities. One result is that there are fewer places left where mining companies are wanted or investors are willing to go.

Jan 4, 1976

By Moshe Sheinkin, Burke O. Trafton

This paper describes the use of a computer in analyzing the expected return on a mining venture. The computer program is designed to incorporate all aspects of a mining project, including the mine, mill, smelter, and refinery. Data input may consist of the operating variables in each phase such as the mining rate, grades, reserves at the mine, and the technical operating characteristics of the mine, mill, smelter, and refinery. Detailed tax computations are shown for a domestic operating company, for a foreign company and for a foreign subsidiary. In addition, the use of the various options that are available such as expense write-offs or deferments to create tax credits during preproduction years are considered, and its effect on the DCF. The program is also constructed to accommodate changes in metal prices, and escalation of capital requirements and operating costs. Output consists of profit and loss statements for entire projects using different methods of depreciation, cash flows, discounted cash flows, net present value and returns on investment. Returns on investment are computed for equity investment, total investment, and total investment less tax credits. Allowances are made for bank and guaranteed loans. Additional financial statements can be made for the following: a) A mine-mill segment with a concentrate selling schedule b) A mine-mill-smelter complex with a smelter product selling schedule c) Profitability of the smelter separately d) Profitability of the refinery separately

Jan 1, 1969

By Richard A. Mullins, James J. Merle

Systematic sampling and analysis in coal-washing plants results in product control and economical operation. A well-organized laboratory system reduces operating costs and increases sales if the operating and sales companies make full use of information it supplies. The operating cost of a control laboratory is less than 1 pct per ton of coal produced.

Jan 5, 1950