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By J. D. Pennock

About a year and a half ago, Mr. Morris, an engineer of the Solvay Process Company, was sent to Belgium and France to study the manufacture of coke in the Semet-Solvay ovens, which were in operation at Havre. With complete plans of construction and a good understanding of the methods of running the ovens, he returned to Syracuse. Work on twelve Semet-Solvay ovens was immediately begun. These ovens, with plant for crushing and washing coal, and the necessary condensers, scrubbers, and concentrator for the recovery of the byproducts are nearly finished, and will soon be in operation. As the work approached completion it became necessary to determine what coal should be used. Accordingly, a chemical investigation of the various bituminous coals was made. I. Investigation of Coals. The samples of coal taken for analysis were: I. A sample of Reynoldsville coal that had been exposed to the weather for a year; 11. Reynoldsville coal taken from a car direct from the mine; 111. Morris Run lump coal; IV. Morris Run fine coal; V. Coal from the Fairmount Coal and Coke Company; VI. A special enginecoal from Pardee colliery, Phillipsburg, Pa.; VII. South Fork, Pa., coal; VIII. Coal from Laceyville, Ill.; IX. Pittsburgh bituminous coal from Ocean mines (gas-coal); X. Steubenville, Ohio, coal; XI. Evansville, Indiana, coal; XII. Coal from the Ohio Coal Company. Proximate Analysis. I. 11, 111. IV. V. VI. Water at 90° C.,* ..................................... Volatile,. .. 31.14 33.00 17.73 18.12 37.20 23.86 Fixed Carbon,. . 64.49 58.07 71.92 71.89 56.68 73.00 Ash,. .. 4.37 8.93 10.35 9.99 6.12 3.14 Coke,. .. 68.86 67.00 82.27 81.88 61.88 76.80

Jan 1, 1893

By William P. Lohden

INTRODUCTION It is recognized that, for a variety of reasons, some companies in the mineral industry today are by no means cash-rich and, in fact, are reporting a growing proportion of long-term debt in their capital structures. A review of recent balance sheets of small, medium-size, and some larger companies, indicates that a fair number still have substantial positions in cash equivalents such as U.S. government issues and other short-term money market instruments. In part, this paper concerns itself with companies which have sufficient cash and equivalents and/or cash generation to internally finance mining projects or expansions but which, for some reason, choose to borrow funds. Misconceptions which appear to frequently underlie so-called "leveraging" decisions are explored in this paper. Also considered arc' those circumstances under which any company, including one that is cash rich, should consider borrowing for a project in an amount beyond what would otherwise be necessary based upon its internal financing ability. I do not attempt to cover the raising of equity capital in public markets in this paper. OVERALL RETURN ON INVESTABLE CASH If you approach an individual with an investment which can be financed from savings, or by borrowing at a rate higher than one is earning on savings, that individual will quickly tell you that to pay interest at a rate higher than is being earned on savings would reduce overall income. Assuming that additional investment opportunities are not currently being considered, the individual concludes that a draw-down on savings, leaving a cushion for contingencies suited to individual circumstances, is the correct financial decision. For reasons discussed later, the simple mathematical logic leading to this conclusion tends to become obscured at the corporate level. When Leveraged Studies Are Inappropriate or Premature Surprisingly, I have heard of a number of companies that could afford to finance an investment solely with internal funds, which have made DCFROR (i.e. discounted-cash-flow rate-of-return) studies not only on a 100% equity basis but also on a leveraged basis. Certainly, a leveraged study would be appropriate if additional projects were competing for more capital than was available internally. Often, however, other projects are not far enough along to warrant a leveraged study and there is some danger that a project may be undertaken because it has an estimated acceptable rate of return, on a leveraged basis, that is not ultimately earned because some of the other projects are postponed or abandoned and borrowing is less than expected. For the above reasons, until it has been determined that (1) borrowing is a reasonable certainty for a particular project and (2) the timing and amount to be borrowed has been determined within a reasonable range of accuracy, I believe it is inappropriate and misleading to calculate DCFROR for a project other than on a 100% equity basis. Even when there are several projects currently competing for funds and borrowing will be required to finance one or more of them, using the common yardstick of calculating DCFROR on a 100% equity basis is a safer method to initially evaluate and compare the attractiveness of the projects. Many companies, whether they would have to borrow or not, will reject projects that on a 100% equity basis do not meet their minimum rate of return standards. Some companies which have to borrow will undertake a project provided the project's DCFROR on a leveraged basis meets its minimum return standards. The danger of this approach is that even moderate shrinkages of estimated cash flows could plunge return below

Jan 1, 1985

By Theodore B. Comstock

a. Boundaries of the District.—The district here considered comprises that portion of Colorado commonly known as " the San Juan Country." In order to bring the principal geological features of this region within the scope of a map of convenient dimensions upon a suitable scale, I have found it desirable to mark off boundaries near the parallels of 37O and 38O 10', and the meridiaus of 106' 30' and 108' 30' (West Longitude from Greenwich). This area of (approximately) 9400 square miles includes all the formations which we should have to discuss if our territory were greatly enlarged, excepting such as are distinctly characteristic of adjoining areas with independent orographic genesis. By limiting this review to these confines we miss very little of the geology of the eight counties of the San Juan region, viz.: Dolores, San Miguel, Ouray, Hinsdale,

Jan 1, 1887

By AIME AIME

TO THE AMERICAN MINING CONGRESS. AMERICAN INSTITUTE OE MINING ENGINEERS. MINING AND METALLURGICAL SOCIETY OF AMERICA. The committee that makes this report was appointed at the meeting of the American Mining Congress, at Denver, Colo., in. November, 1906. The appointment had in view the drafting. of a law for the regulation of quarrying and metalliferous mining under the police laws of the States, with the hope that the uniform adoption of such a law could tend to reduce the number of accidents in mining. Since its. appointment, the committee has had' under serious and continuous consideration the matter with which it was charged. At the meetings 0f the American Mining Congress in 19o7, 1908 and 1909, it reported progress. At the meeting in 1909 it was authorized to present its report not only to the American Mining Congress, but also to the American Institute of Mining Engineers and the. Mining and Metallurgical Society of America, and to present its report in printed form during the interim between meetings of the American Mining Congress. The committee collected from the officials of the States of the Union copies of their mining laws. With the assistance of the Engineering and Mining Journal copies of the laws 0f Great Britain, the Transvaal, New South Wales, Victoria, Queensland, Western Australia, Tasmania, New aland, and certain European countries were also obtained. These laws were subjected to careful study. The first publication of the committee was a summary of the more important metalliferous mining laws 0f this country. Upon the basis of the existing laws of the States of the Union, Great Britain, and the English speaking colonies, a tentative draft. was prepared and printed in limited number in 1909, for convenience in securing the advice and criticism of a considerable number 0f persons engaged in the mining industry. In this way valuable suggestions were received. At the request of the chairman of this committee, Mr. Frederick L. Hoffman, statistician of the Prudential Insurance Company, of Newark, N. J., summarized and reviewed the available statistics of fatalities in metalliferous mining in the United States. Mr. Hoffman's report was published in the Engineering and Mining

Jan 10, 1910

By Georgc E. Collins

SEVERAL years ago, I estimated the total stock of gold in the world to be about a thousand million ounces, of which rather over one-third was available for monetary uses. Robert H. Ridgway has estimated the world's production from 1493 to 1927 as slightly over this amount. Of this total, 1.5 per cent was produced between 1493 and 1850 (before the Californian and Australian goldfields began to flood the world with gold), 331/2 per cent from 1851 to 1900, and 511/2 per cent from 1900 to 1927. Allowing for loss by attrition and permanent consumption in the arts, and for loss of buried treas¬ure, my first-mentioned estimate is perhaps not far from the truth; but my estimate of the monetary stock was certainly too low. Of the total production stated by Rid-way. 28 per cent came from North America. 26.9 per cent from Africa, 1.6.8 per cent from Australasia, 12.4 per cent from South America, and 11.2 per cent from Asia. Excepting that from the African conglomerate beds, the ultimate origin of which is still the subject of controversy, by far the greater part of the total production was derived from alluvials. Weighing all contingencies, it is improbable that any such production as has been made during the last forty years will be repeated in any similar period, if the present price level is maintained. The gold standard today seems firmly established except for temporary digressions. Nevertheless, no well-informed mining engineer will venture to assert the probability that the material for its maintenance throughout future generations can be furnished.

Jan 1, 1932

By William P. Blake

THE use of diamonds upon a large scale in drilling rocks, and the substitution to a certain degree of rotary diamond drills for the ordinary steel percussion drills, marks a new era in the art of mining. Since the invention by Leschot of the diamond drill, it has steadily advanced in its utility and range of application, and in the appreciation of miners and engineers. It must be claimed as one of the many gifts of science to the arts ; and it is, in particular, one of the fruits of the scientific education given at the Ecole Centrale, at Paris. Members are all, doubtless, more or less familiar with the construction of the drill and of the machinery by which it is applied in boring. It is, therefore, my present purpose only to direct your attention to some recent marked improvements, made by the American Diamond Drill Company, by which the economy and efficiency of the machines have been increased. Form of Bit. The annular or ring form of the drill-head or bit was, I believe, the earliest; and it is still in use, without essential modification, wherever it is desired to obtain a sample "core" or specimen of the rock traversed. But for mere drilling, regardless of the preservation of a test-core, a solid-head bit is preferred, except for very large holes. Until recently, these solid-head bits were made with a pointed cutting face shaped like an obtuse cone. This form was assumed to be the best, being most in accordance with the experience obtained with percussion drills. It is found, however, that the exact reverse

Jan 1, 1873

By A. T. Beckwith

THE Lehigh Navigation Coal Company Inc. operates steep-pitch, relatively deep mines in the Panther Creek Valley, at the eastern end of the southern anthracite coal field. Commercially minable coal beds are the Mammoth,† Primrose, Orchard, and Buck Mountain,‡ their respective thicknesses average 50, 15, 1o and 12 ft. Sand slates immediately overlie and underlie these beds, though in some locations sandstone or conglomerate beds occur. Underground operations extend to a depth of 1200 ft. below the surface, and comprise a bulk of virgin work on the lower levels, and a small amount of remining on the upper levels. With increase in depth, ventilation has become a more important factor. DEVELOPMENT In early days slopes or drifts were driven in the outcropping coal on the hillsides. Subsequent development was by water-level tunnels, with portals above high water in Panther Creek. These tunnels have been maintained because they intercept and drain much water that enters the mined-out portion of the bed and otherwise would follow down to the deep workings. Below these tunnels, the coal was customarily developed by slopes. Muleways, which are zigzag chutes easy to travel, were also driven to connect lower openings with the water levels. When it became necessary to go still deeper, the slopes were abandoned, and vertical multicompartment shafts were sunk from the surface. Levels have been at vertical intervals of from 195 to 250 ft. Recent practice has been toward the latter spacing; splitting the total lift, however, by starting to mine from chutes extending halfway up to the level above. Chutes customarily are spaced at 50, 60 or 70-ft. centers along the gangways. At some mines, additional shafts have been sunk from the surface to the level containing the main pumping station, and these carry the discharge lines from the pumps. As the mines are ventilated by the exhausting system, both the hoisting and so-called water shafts serve as intakes. The main fan is always on the surface, and is connected with the return airways from the various levels by an air hole or a vertical shaft. For economy, when the present deepest levels were developed, main return-air shafts or air holes were not extended to the new level, but connections were made from the new level to that above by two or more holes. It is doubtful that this method will be continued, as complications in the system, increased resistance to flow, and other difficulties undoubtedly will counterbalance any economies this provision may afford.

Jan 1, 1942

By DAVID F. McFARLAND

THE making of courses of study and curricula has long held first place as the favorite pastime of educators. As a game, this activity is as fascinating to some as golf or bridge, 'and the golfer's hope of a low score is matched by the teacher's ambition to some day evolve a sequence of studies that shall prove the ideal preparation for a life of maximum service and, profit. There are few in, this gathering who have not tried their skill at this game and still fewer are those who have been long satisfied by the product of their efforts. A curriculum is hardly printed in the college catalog before conditions arise which seem to make changes desirable, and strong will power is needed to maintain the program long enough to give it a fair trial. Metallurgical curricula are not less subject to change than others, 'and; indeed they have seemed, at times, to change more rapidly than other curricula because of the changing 'needs of the industries and the demand that the graduate be trained to meet the new conditions. Metallurgical practice is constantly proving that "time makes ancient good uncouth," and the graduate metallurgist is required to adapt himself to newer and

Jan 1, 1930

By Jesus P. Manzano

The report of which this paper is a summary was made in 1890 for the Compania Investigadora Mexicana y Americana. Since the region examined covers 900 sq. kilom., chiefly of wooded arid rocky hills, almost without roads, and for the most part uninhabited, While the examination had to be made in two months, of which period more than 15 days were continuously rainy, I need not say that this account is not complete and thorough. I. Geography and Topography. The center of this zone, 19 kilom. SW. of San Luis Potosi, is situated in lat. 21° 24' N., and long. 2° 3' W. of Mexico City. The altitude ranges from 1866 m. (that of San Luis) to . 2816 m. (that of the Realito mountain), in the Sierra de Sail Luis. The topography is hilly—partly wooded, partly bare. The principal more level areas are the Bledos valley on the south, and portions of the haciendas of Tepetates, San Fran cisco and Santiago, on the west. The water-supply is scanty. The two streams that cross the Zone, the Santiago and Bledos rivers, carry water nearly the year through, though much reduced in the dry season. Other streams are torrents of less importance. All the waters of the valley and Sierra of Sail Luis arc absorbed or sink, not passing beyond Soledad de los Ranchos. The Continental di vide is within the Zone, some waters going west to the Pacific, others east to the Gulf of Mexico. II. Geology. Concerning the geology of this district I condense the fol lowing from the memoir, Las Minas de Guanajuato, prepared for the Minister of Fomento by Senor Pedro Lopez Monroy, mining engineer, with which I am entirely in accord. He says, ill substance:

Jan 1, 1902

By Francis T. Christy

One aspect of ocean mining that is frequently overlooked in discussions is the problem of establishing some form of legal control over the seas. Much of the discussion centers on mining in territorial waters, which are controlled by the various countries according to the Geneva Convention on the Continental Shelf, and perhaps by political subdivisions of countries such as the individual states of the U.S. But as technology improves and the mining of deeper waters becomes feasible, the problem of rights outside the continental shelf and territorial waters becomes a significant factor for anyone expending the time and capital for development. Several schemes are possible for regulating ocean mining but as yet none have been instituted, except what might be termed the "wait and see" approach. Even some of the coastal states in the U.S. have no regulations governing mining in the territorial waters under their jurisdiction. Until some regulation is formulated, there may well be little development in ocean mining due to the high risk of capital involved, both with respect to companies wishing to invest their own funds and financial institutions funding a venture to develop offshore mineral deposits.

Jan 7, 1968

By J. D. Mooney, D. L. Darnell

The accompanying chart has been drawn for the convenicncc of engineers as' a means of quickly determining the correct number of plies of conveyor belts operating under specific conditions. The calculations are based on the average safe strength (factor of safety, 15) of the various standard rubber conveyor belts. The calculations assume maximum loading conditions; that is, the belt is considered as carrying the greatest load that it will handle without spillage at ordinary belt speeds. This not only produces the most economical operating conditions, but also the maximum tension in the belt. The chart is a graphical representation of the formula: Where, p = kg W(L + 10H) p = the correct number of plies k = a constant, depending on the type of drive g = the weight 'in pounds per cubic foot of material handled W = the width of the belt in inches L = the length of the belt in feet (approximately twice the center distance). H = the difference in elevation between the head and tail pulleys, in feet. For a simple drive, with a bare pulley, k = ----1 For a simple drive, with a rubber-lagged pulley, k = --- 1 For a, tandem drivej with bare pulleys, k = 1/375.000 For a tandem drive, with rubber-lagged pulleys, k = ---1 The chart is drawn for a simple drive, with a bare pulley (k — =e)1 ; therefore, the number of plies obtained from the chart should be multi- ' plied by the factor 0.83 or 5/6 for simple, lagged drive; the factor 0.67 or 2/3 for tandem, bare; and the factor 0.55 or 11/20, for tandem, lagged. The formula p = kgW(L + 10H) has been developed mathematically

Jan 1, 1916

By R. M. Brick

EDUCATIONAL benefits for veterans of World War II have largely removed one of the two former barriers to a college education for everyone, namely financial means and intellectual capacity. This latter limita¬tion has not kept privately endowed institutions from increasing 50 to 100 percent in size of student body, even after applying moderately rigid entrance standards. Growth of some land-grant universities, which cannot well exercise such restrictive judgements, has been even greater. After a weary board of admissions, subject to student, alumni, faculty, and even political pressures, has admitted double the former number of freshmen, the university's worries really begin: to find laboratory, classroom, and instructional facilities. If this were a one- or two-year problem, the answer would be simple: double up, hold night classes, particularly of laboratories, rent space, and have instructors work 24 class or contact hours a week instead of twelve (it takes usually two to three hours of outside work by the instructor for one hour in class). However, most engineering school faculty men are worn out now from four to five years of "accelerated" (frequently downward!) programs and they couldn't continue teaching in a way satisfactory to their own consciences on

Jan 1, 1947

By Paul C. Merritt

Chrysotile asbestos producers in Quebec may soon experience a unique situation-i.e., strong competition from American ore sources for the short fiber market west of the Mississippi River. This com- petition will be forthcoming from Copperopolis and Coalinga, two deposits now being developed on opposite flanks of the San Joaquin Valley in central California. The combined output now planned from both deposits is 100,000 tons annually, equivalent to about 50% of the annual market demand in the western, central and Gulf States, and more than twice the tonnage sold in 1960 by all other American asbestos producers combined. The principal companies involved in these new undertakings are Jefferson Lake Asbestos Corp. (subsidiary of Jefferson Lake Sulphur Co.), Hidden Splendor Mining Co., Coalinga Asbestos Co. (Johns- Manville Corp. in conjunction with Kern County Land Co.), Union Carbide Corp., and Asbestos Corp. Ltd. Jefferson Lake's principal interest is at Copperopolis where the company's new 70,000-ton per yr mill recently went on stream. The company also holds some claims at Coalinga, but this latter area is better known as the site where Hidden Splendor, Coalinga Asbestos Co. and Todd Industries (a local company) have established operating mines and mills capable of turning out 30,000 tons of fiber each year. Coalinga is also the site of exploration by Union Carbide Nuclear and Asbestos Corp. Ltd.

Jan 9, 1962

By Charles M. Rolker

The Mariposa estate, a grant made by the Mexican Government to Juan 13. Alvarado, during the time when California was still under the dominion of Mexico, was purchased in 1847 by J. C. Fremont, and the United States patent issued to him in 1856. By sale, or its equivalent, money advanced, the property came into the hands of the Mariposa Company, June 25th, 1863, and through a varied existence of work and temporary inactivity, has as yet been kept as an undivided property, and rests at present with the Mariposa Land and Mining Company of California. I pass over this period of 15 years without giving the history of the ups and downs of the estate, partly because it is familiar to many, and also because I think in such a case this paper would assume too much the character of a narrative. The estate is situated in Mariposa County, California, about 170 miles southeast of San Francisco. It begins in lat. 37' 26' 38'' north, and long. 119' 55' west, and runs 6 miles north; thence 69 miles west; thence 5 miles northwesterly towards the Merced River; thence 84 miles southerly; thence 3 miles easterly; thence 1 mile southerly; thence 2 miles easterly; thence 2 miles southerly; thence 2 miles easterly; thence 1 mile southerly; thence 2 miles easterly; thence 1 mile northerly, and thence 2 miles easterly to the place of the beginning; embracing 44,387 acres (70 sq. miles) more or less. To describe this vast estate in detail as to its full geology, its numerous quartz veins, its many facilities to exploit them and work them by cheap methods, would lead me further than I intend to go at present, and I will content myself to describe the latest workings of the company and its immediate field of operations. As long ago as 1860 the late Dr. Adelberg advised the running of an adit from the northwestern edge of the estate at Benton Mills 011 the Mereed River. His object was to undercut the deepest workings of the then paying mines on the estate—the Pine Tree and Josephine. Following this advice, the tunnel known as "River Tunnel " was commenced. Its entrance is in S. 5, T. 4, s. R. 17 E. It is run in

Jan 1, 1879

By S. F. Shaw

MINING conditions in Mexico during the current year have been most unfavorable, synchronizing with conditions in the United States, but the outlook for the near future is improving. The chief difficulties met with are because of the following conditions: severe drop in prices of metals; high smelting rates; high prices of supplies; inadequate means of transportation; low efficiency of labor. In comparison with pre-war prices for metals it cannot be said that prices are low, particularly for silver, which recently has gone to a level that would have been considered exceedingly good in 1912. But conditions have changed so greatly that only the most favorably situated properties can operate without loss.

Jan 1, 1921

By J. M. GLEDHILL

IT would doubtless have been felt by many but a few years back that there was little left to be said on the subject of crucible tool-steel, and that something akin to finality had been arrived at in its manufacture and general treatment. Probably such feeling was justifiable when it is remembered that the making of steel in crucibles is by far the oldest method known, dating back from time immemorial, it being indeed impossible to accurately trace its origin and earliest development; but it seems certain that carbon-steel was made and used thousands of years ago for cutting-tools. Proof of this may be seen by the marvelous carvings and workings on the intensely hard stone-work of the ancients, for it would be difficult to conceive by what means, other than with steel tools, such work could have been executed; and it is wonderful to contemplate that steel cutting-tools should have been used so long ago, whilst the principle of manufacturing them-that is, by fusion of iron and charcoal in crucibles-was then in a measure on the sane lines as we work on at the present day. Archaeologists have discovered that the Chinese made steel in crucibles long before the Christian era. " Wootz " steel fabricated in India centuries ago was crucible steel, as was also the celebrated Damascus steel, produced at the forges of Toledo, and, curiously, this latter steel furnishes' yet another proof that "There is nothing new under the Sun," for it is recorded that Damascus steel contained certain percentages of tungsten, nickel, manganese, etc., some of the very elements, in fact, contained in the present modern high-speed steel, so that a latent high-speed steel may be said to have existed

Mar 1, 1905

Discussion of the paper of H. M. WARREN, A. S. BIESECEKER and E. J. POWELL, presented at the New York meeting, February, 1916, and printed in Bulletin No. 110, February, 1916, pp. 181 to 193. R.. V. NORRIS, Wilkes-Barre, Pa.-For many years the power requirements of breakers designed in the Anthracite. Region have been based on calculations made from indicator diagrams taken during operation, with various sections of machinery idle; these, while giving reasonably accurate figures, gave no intimation of the peak loads which have been shown so clearly in the paper. The high-speed flywheel for breaker rolls is new and shows a remarkable saving in peak power required, besides eliminating the stalling of the rolls from overload. The figures given are so far in advance of anything previously published that they will undoubtedly be used as a basis for future breaker design. It is to be hoped that the authors will continue this investigation and extend their paper by a description of the motors found best suited for this work. WILLIAM KENT, Montclair, N. J.-I notice on p. 187 reference is made to one of the difficulties being the starting torque, and it is proposed to use roller or ball bearings in order to decrease the high starting torque. I suggest that. before the roller or ball bearings are put in, an investigation be made as to the amount of the starting torque, as shown by wattmeter measurements and as to what the starting torque ought to be, theoretically, according to the energy formula; that is, how much starting torque is required to accelerate the rotating mass in a given number of seconds up to full speed. Having secured this information it may be found the amount to be saved by roller bearings is not very great. If it appears that roller bearings will not greatly decrease the starting torque, the next thing to be done is to have a special design of motor in which there is a field that can be made very strong at the start, by the use of extra poles or other means, and the next thing that may be done is to increase the speed from 10,000 r.p.m. to 25,000, which can be done with wire-wound flywheels, especially if the wires are made of vanadium steel.

Jan 5, 1916

Edgar Hall, Silverspur, Queensland, Australia (communication to the Secretary*):—Dr. Douglas has written on this subject before, and his influence has had a powerful effect on the eide of freedom among the' younger generation of engineers. Moreover, it is not the first time that he has attributed the decline of the copper-smelting industry in Swansea to the secrecy maintained by the firms there engaged in smelting-operations. In this latter statement I think his conclusions are open to criticism. Whether the firms mentioned have suffered by their secrecy is their own business—I hold no brief for them ; but that the decline of the copper-industry at Swansea was inevitable seems to me to he proved conclusively by Dr. Douglas's own writings. In his paper on The Copper Situation,' Dr. Douglas says : "In comparing iron and copper mining,...it must be remembered that 2 tons of average iron ore from the most prolific source now available ... will make 1 ton of metal; whereas from 33 to 75 tons (say an average of 50 tons) of copper ore must be mined to produce 1 ton of copper." And further: "Last year's production of iron was made from approximately 50,000,000 tons of ore. Our copper mines, to yield a production of 900,000,000 pounds, must have handled approximately 22,000,000 tons of ore, or nearly half the quantity raised from our iron mines." Is not this the key to the whole situation ? In transporting the 50,000,000 tons of iron-ore, 25,000,000 tons of the metal iron were carried so much nearer to the market, but the transportation of 22,000,000 tons of copper-orc would have carried only 450,000 tons of the metal copper nearer to its ultimate destination. The small percentage of copper available in its ores makes

Jan 1, 1909

By Lysle E. Shaffer

INCREASING attention has been given in the last decade to the possibilities of mine leasing in the West. The practice as described in this article does not refer to the leasing of entire properties for corporate operation. It is intended to deal rather with the advantages and problems incident to leasing portions of properties to individuals who themselves, individually or in groups, do the actual mining and transportation of the ore. These individuals are sometimes called "leasers" and sometimes called "tributors." The contracts under which they work set up an independent relationship of lessor and leaser, between themselves and the mineowner or operator. This relationship has many advantages to both sides over those created by the ordinary relationship of employer and employe. From the standpoint of the owners there is no liability on independent contractors for industrial injuries, social security taxes, unemployment taxes, or the manifold restrictions of the Federal Labor Relations and Wage Hour Acts and similar state acts where they exist. As the leaser's income depends on the quantity and quality of ore produced, there is a distinct incentive for maximum production of a good grade of ore. This in turn promotes careful mining of the areas under lease. Ordinarily in mining, labor cost is a high percentage of the total cost of operation. Under a leasing system, even if the leasers be allowed to retain half of the gross values that they produce, and the owner or operator gets half, in the case of marginal ore bodies this is ordinarily more than the lessor would realize if the property were worked by day labor. In some instances mineral deposits under a leasing system may become ore, whereas under a day-labor system they would

Jan 1, 1948

By Eugene Guccione

After discovering that past materials shortages were caused by government policy, the National Commission on Supplies and Shortages wants to prevent future shortages by increasing government's role in planning the economy.

Jan 4, 1977