Search Documents

By T. H. Aldrich

There are two conditions generally prevailing upon the earth—those within atmospheric influence, tending towards oxidation, and those away from atmospheric influence, tending towards reduction. Practically all mineral substances from mines of any depth a.re in a reducing condition. Since the cyanide process, in order to dissolve silver or gold, requires that the prevailing conditions under which it operates shall be oxidizing, and the materials usually acted upon bei~lg of a reducing character, it becomes necessary to supply oxygen to the solution carrying the cyanide. This oxygen is usually supplied through the medium of dissolved air in the solation, or through the medium of various chemical compounds, which upon combining vith the solution or the ore give off a part of their oxygen. Strange as it may seem, practically all mineral substa~~ccs are partly soluble in water, especially water carrying alkali or cyanide. The greater the surface exposed and the finer the material is ground, the greater mrill be the rate of dissolving of the reducing-agents from the ore into the cyanide solution. In most cases, if the solution carrying the ore particles is agitated with air, the air will dissolve into the solution faster than will the reducing-agents; but in some cases the reducing-agents will dissolve more rapidly on account of easy solubility or greater surface exposed. It is a dissolving race between the oxygen from the air and the reducing-agents from the ore, and if the reducing-azents predominate, cyanide will not dissolve the gold from the ore. In many cases it will dissolve some of the gold, because in a mass of irregular shape some of the gold particles might be exposed upon the outside surface of a particle of rock; but if the solution had to penetrate through cracks, the side-walls of which were lined with reducing-agent-

Jan 1, 1912

By D. R. Cook, W. M. Shepard, H. T. Morris

The East Tintic district in central Utah has produced ores of gold, silver, copper, lead, and zinc valued at more than $120,000,000. All of this ore has been produced from blind ore bodies in Paleozoic sedimentary rocks that are concealed beneath hydrothermally altered volcanic rocks and cut by intrusive bodies of Eocene age. The Paleozoic rocks, which range in age from Early Cambrian to Mississippian form the core and limbs of a large, northtrending asymmetric anticline that is cut by low-angle thrust faults, high-angle transcurrent faults, mineralized fissures and faults, and normal faults that are both older and younger than the mineralized fissures. The ore bodies generally may be grouped into two classes: ( 1) massive replacement bodies that are rich in silver, lead, zinc and manganese and (2) fissure veins that are valuable primarily for their content of gold, copper, and silver. The replacement ore bodies are localized chiefly in the Middle Limestone Member of the Ophir Formation of Middle Cambrian age where it has been thrust-faulted against older or younger rocks and cut by northeast-trending mineralized fissure zones. The fissure veins primarily are productive only in the Lower Cambrian Tintic Quartzite. Extensive lowgrade deposits of lead-zinc-silver ore recently have been discovered in Devonian carbonate rocks in the Lower plate of the East Tintic thrust fault but as yet are unevaluated. The principal guides to ore include: ( 1) intersections of northeast-trending fissures and crossbreaking faults that brecciate the carbonate rocks; (2) zones of late-stage pyritic, calcitic, and sericitic alteration in the lavas; ( 3) primary geochemical anomalies in the altered rocks; and ( 4) mineral zoning patterns of the known ore bodies. The present development of the Burgin mine would seem to assure the continued productivity of the district for at least a decade.

Jan 1, 1968

By R. H. Snow

Although industrial size reduction methods have an energy efficiency of only about 1 percent, methods of size reduction have not changed much for many years. One reason for slow progress has been the oversimple viewpoint that a single law should exist to relate size reduction to energy input. Modern simulation methods decompose the grinding process into a grinding rate function (selection function) and a breakage function. The breakage function is difficult to measure, and it usually requires tracers if it is determined from milling experiments. Prediction of breakage functions from basic principles is one objective of this paper. In this study we focus attention not on the gross energy input to the experiment, but on the spatial distribution of stress energy within the particle. We are led to this viewpoint by experimental observations of a few previous investigators (Bergstrom2, Rumpf3, Axelson4) and our own observations. Oka and Hiramatsu recently used their calculations of stress within particles for prediction of breakage, but again they tried to correlate the size of the fragments with the total stress energy, rather than the approach we propose. We assume that the stress energy is stored in the interior of the particle as the load is increased, until the particle breaks. We assume that each element of the particle breaks into fragments of a mean size that depends on the locally-stored stress energy. The size distribution of fragments is the computed from maps of the stress-

Jan 1, 1972

By Henry P. Cole

A series of studies are described that identify critical health and safety skills needed by underground coal miners for coping with mine emergencies. First aid and self-rescue and escape were selected as two broad performance domains that include many subordinate skills needed for preventing, recognizing, and coping with mine emergencies. The performance domains and their objectives were used to direct the development of simulation exercises that permit miners to experience mine emergencies in the safety of a training room. The exercises are based upon research with similar simulations for the training of flight crews and medical personnel in information gathering, judgment, and decision making skills. Exercise content is drawn from actual mine accident and disaster case studies. The exercises incorporate recent principles of cognitive psychology and instructional design. Initial studies in annual refresher training classes suggest the exercises are stimulating for miners and their instructors, easy to use and read, sufficiently complex and authentic to challenge experienced miners, and useful devices for both teaching and testing critical problem solving skills required for preventing and minimizing emergencies.

Jan 1, 1988

By AIME AIME

ON THE occasion of the eightieth birthday of Captain Robert W. Hunt, the Iron and Steel Committee of the Institute, desiring to commemorate the great contributions made to the steel industry by Captain Hunt during his long career, conceived the idea of a Hunt Medal to be awarded annually by the Institute for meritorious contributions to the art of making steel. The project was received enthusiastically by all to whom it was proposed, especially by Captain Hunt's partners and employees who considered it their right, and asked for the privilege of -. - raising the necessary funds within their own circle. This was agreed to, and the Institute has received from them $7500 as an endowment fund to provide an annual award, and $1000 for the expenses of providing of medal.

Jan 1, 1920

By M. Laliberte

"Gold-mine effluents are often characterized by high concentrations of copper, ammonia and cyanide derivatives (mostly cyanates and thiocyanates). While not acutely toxic to birds, this water can be acutely toxic to fishes and invertebrates. In many jurisdictions, the effluent requires further treatment in order to pass a mandatory requirement to be nonlethal to species like the rainbow trout (Oncorhynchus mykiss) or Daphnia magna. Using actual mine water, it has been demonstrated that aerated moving bed biofilm reactors will biodegrade the ammonia, cyanides, cyanates and thiocyanates, thereby removing the toxicity associated with these components. By removing copper by precipitation the water can be made to pass acute toxicity tests. Tests have demonstrated that the process is stable between 4 and 25°C, with no significant changes in the treated water composition. Once the biomass is acclimatized, the process is resistant to upsets and requires very little inputs except for phosphorus and air. Furthermore, it has been demonstrated that an anoxic reactor can be added downstream of the aerated reactors to remove nitrates if required.IntroductionThis paper will demonstrate that gold-mine effluents, which are toxic to fishes and invertebrates, can be made nontoxic by using a combination of chemical precipitation and biological oxidation.The typical composition of gold-mine effluents will first be described. The applicable legislation will then be introduced, with its requirement that the treated effluent be nontoxic. The toxicity of a typical untreated effluent will then be confirmed, and the sources of the toxicity identified. After that, a number of toxicity reduction treatment methods will be presented, and the selected method will be described.The lab tests that confirmed the efficiency of the treatment method will be presented, with three phases of testing as the understanding of the process gradually improved. Toxicity test results showing that the water is nontoxic after treatment through the temperature range will be presented."

Jan 1, 2015

By W. A. Hoyer

Neutron activation analysis for mineral identification has attracted the attention of numerous investigators, judging from the publications on this subject in the past few years. 1-9 The appealing aspect of this method of mineral analysis is its proven sensitivity in the laboratory. In principle, activation analysis is one of the few petro-physical methods whereby a direct analysis for a mineral itself is possible in a borehole. The successful application of activation analysis requires the use of particular neutron reactions, measurement of selected gamma-ray energy intervals, and optimum bombardment and detection times. For copper analysis, Labanov et al., 10,11 using a low-energy PuBe source, reported an acceptable logging means. On the other hand, Pradzynski12, in analyzing ores and process tailings, used high-energy neutrons and photons for surface measurements of process samples. The work of Labanov et al. was based on measuring the rate of decay of the activated copper and hence was not as definitive as might be desired. Equipment is commercially available to carry out activation studies in the field 13,14 Gamma-ray spectra can be successfully transmitted over ordinary logging cables and, with borehole high-energy neutron accelerators and lower-energy chemical neutron sources, a variety of neutron activation methods can be studied. The purpose of the study discussed in this paper was to determine the feasibility and practicability of logging for copper using neutron activation techniques and commercially available equipment. The laboratory study showed that Cu could be detected in rock samples in the laboratory by high-energy neutron activation of 63 Cu. In the field, however, due in part to the large volume irradiated, the direct detection of copper using high-energy neutrons was not as promising. Detection of copper by measuring both the direct gamma-ray emission and the excessively strong low-energy gamma-ray absorption appears promising. Copper was not detected either in the laboratory or

Jan 1, 1972

By Richard L. Bullock

Believe it or not, mine evaluation and feasibility studies are as old as the industry itself. In the first recorded writing on mining by Agricola (1556), he gave several clues as what to look for in evaluating a mine, to determine if it was economically feasible. Below is the guidance from Agricola, with my interpretation of what he would include today. Now a miner, before he begins to mine the orebodies must consider seven things, namely: ? The situation (the geography/topography). ? The conditions (the geologic/mineralogic and mining conditions). ? The water (availability, hydrology and ownership). ? The roads (plus the railroads, power lines, all other infrastructure). ? The climate (the weather-rainfall/environment). ? The right of ownership (the land and legal entitlement). ? The neighbors (the social environmental concerns of the area). It is amazing how much of his guidance has not changed in 455 years. Yet Agricola gives no guidance on determining the correct cost, or determining the correct commodity pricing. But he does give a few words of caution on the related ethics involved on buying mineral properties: ?A prudent owner, before he buys shares, ought to go to the mine and carefully examine the nature of the vein, for it is very important that he should be on his guard lest fraudulent sellers of shares should deceive him.? Three hundred years later (1866), to further amplify this point, in the most famous thing that Mark Twain never said, as an introduction to a lecturer to an audience of gold-miners at Red Dog, CA, the famed author/humorist allegedly described a mine as ?a hole in the ground owned by a liar? (Farrar & Rinehart, 1935). So, one might conclude that between these two dates, the mining industry did little to improve its reputation. Unfortunately, since Mark Twain allegedly made those remarks, we have not done near enough to gain accountability for the mineral industry.

Jan 1, 2011

By W. A. Calhoun, M. M. Fine

"One of the most important wartime activities of the Bureau of Mines was the search for new sources of mineral necessary to the prosecution of the war. Part of that effort was in the form of metallurgical service extended to other government agencies engaged in purchasing and stock piling some of the more critical and strategic materials.Fluorite was one of the materials stock piled by the Metals Reserve Company. The fluorite was usually in the form of coarse metallurgical con¬centrate purchased in the United States and abroad. The material was stock¬piled to insure an adequate reserve of fluorite for the metallurgical industries. The domestic production of metallurgical fluorite containing a minimum effective calcium fluoride content of 55 percent,4/ however, gradually increased until production was at least equal to consumption. The stock-piled metallurgical fluorite, therefore, soon became a surplus commodity.On the other hand, the supply of acid-grade fluorite, containing a minimum of 97.5 percent calcium fluoride and n maximum of 1.5 percent silica,5/ was never entirely adequate. Increased consumption of acid-grade material in the aluminum, petroleum, and chemical industries kept that material on the critical list during the war.Under the circumstances, it was felt that a study of the possibility of producing acid-grade fluorite from the metallurgical stock piles would be of some benefit to the war effort. Consequently, samples of fluorite from several of the Metals Reserve Company stock piles were tested by the Bureau of Mines at the request of the War Production Board.Two groups of samples were submitted for testing. One consisted of metallurgical fluorite purchased from Mexico and stock-piled in the El Paso and Laredo, Texas, stock piles of the Metals Reserve Company. The second group of samples was from the stock piles at Gila, N. Mex.The sample submitted from the El Paso stock pile consisted of about 5,000 pounds of minus 4-inch material. Mineralogically, the sample consisted of fluorite contaminated by calcite, chert, quartz, and small amounts of iron and alumina. Although some of the fluorite was reasonably free from gangue at minus 1-inch, much of it remained locked in sizes as fine as 65-mesh.The Laredo sample was about 5,000 pounds of material from five different piles. The samples from each stock pile, A to E, inclusive, were analyzed separately to determine whether the grade of the material in the piles varied markedly. As there was little difference in the analyses, the samples were combined in proportion to the tonnage represented to make a composite sample for testing. The composite sample consisted of fluorite with small amounts of quartz, calcite, and barite. Most of the fluorite was the dark-colored, opaque variety. A small amount of iron-oxide staining was present, and traces of muscovite, clay, pyrite, and tourmaline were noted. The quartz was present as crystals in vugs, and as finely disseminated grains in the fluorite. The druzy quartz and the calcite were free at minus 10-mesh, but the disseminated grains, some of which were 1 to 15 microns in size, were not entirely free at minus 270-mesh. A petrographic estimate indicated that 65 percent of the silica was locked in the 150- to 200-mesh."

Jun 1, 1946

By Aidan Giblett

"It is important to make a clear distinction on the scope of work of the Global Mining Standards and Guidelines (GMSG) guideline for sampling grinding circuits. Many mineral processing practitioners are familiar with the sampling and surveying of comminution circuits, in particular grinding circuits, for performance diagnosis and the identification of optimization potential. These surveys often provide information for population balance modelling of individual comminution and classification unit processes, and consequently require a large amount of information to calibrate and validate the unit models. As a result, these surveys are labour intensive, somewhat expensive, depending on internal capabilities of the mine site or company and have a long time span from initial planning to final reporting. They also require a high level of expertise to process the survey data, simulate the circuit and make sensible recommendations on follow up actions.As a result of these factors, full grinding circuit surveys are not a common occurrence at a large number of processing facilities, and several years may pass before follow up surveys are conducted. In the ensuing gap between surveys, the efficiency of the grinding circuit must often be taken on faith, and this is considered an unacceptable lapse in an environment of strained natural resources and low commodity prices.To support the rapid and productive energy efficiency analysis being promoted by the ICE working group, a much simplified survey and analysis process is required. The process reflected in the GMSG guideline is indeed more conducive to frequent analysis, at a skill level that is well within the capabilities of the average plant metallurgist. As a result, it becomes feasible to conduct mini-surveys of plant performance, which can be used to quickly and precisely diagnose the high level impact of process changes. These methods can also be manipulated by an experienced practitioner to provide sufficient information for modelling of the circuit to estimate the impact of process changes, allowing an initial rate and rank exercise to focus plant optimization efforts."

Jan 1, 2015

MR. McKEEVER: I think we had to start some- where. The proceeds of the beltbuckles and hard hat stickers will certainly be a beginning in a scholarship for some of our young people. And maybe, you know we might even get one of them sometime to go to the University of Oklahoma. A few years ago the luncheon speaker for tomorrow, Brooks Mitchell, got a few of the mine presidents together and we spent a full five hours of just dedicated listening to Carl Terzian. We listened basically on three subjects: how to work with the media, how to work with image, and how to identify with our political systems and those who are in them. I remember that as one of the turning points in my perspective on how our system really works. This gentleman who will be addressing you today, Mr. Terzian, will be conducting about a three-hour session tomorrow. And it's a shame that our other activities will not allow some of the golfers to probably be there. Those of you who can come to the session tomorrow morning will find it most rewarding. A little bit later on we will also have a panel session. And I see all of the panelists are here except for Bob Golten, but I understand that he is registered. We should have a full afternoon session with Charlie and his panel. When we started working on this, we naturally went back to Carl Terzian to give us some guidance. If there is anything wrong with your session, it's my fault because he knows how these should be done and he guided us along the way. One thing that I am sorry, it wasn't his fault necessarily, is that Harry Reasoner will not be with us for lunch tomorrow. Brooks Mitchell is going to make all of the PR he can out of the fact that Harry got scratched and he got in place for him. Brooks gave me one comment along that line. He said, "Do you know what you get when you cross a gorilla with a computer"? Of course I bit on that. He said. "Well, you get a Harry Reasoner." A little over a month ago I was invited out to California to Woodbury University at Carl Terzian's insistence. I happened to be sitting by one of his vice presidents. It was a formal affair. We had to wear tuxedos and everything and Mr.Green was sitting there and he said, "You know," he didn't know who I was at that time, but he said, "You know Carl really didn't want this formal affair. Said he had a couple of friends coming from the coal mining industry and they wouldn't know what to do with tuxedos." So with that Carl, we will start this little session and it's your mike. MR. TERZIAN: Thank you very much Ira. Let me begin by expressing my appreciation to the men and women of the Institute for allowing me to be here. I'm deeply concerned about my reputation, my image and don't want you to get the inference that I am responsible for Ira McKeever's image. Nobody could be responsible for that! But it is a great case in point that we all should be concerned about our images. I guess tomorrow morning from about 8:30. a.m. to about 11:30 a.m. we are going to do a? hopefully, a productive and very pleasant expertence for all of us in this growing field and great interest that people have in the area of image. I happen to be from Los Angeles. I have a national firm which has handled about 600 corporations', over the years through the areas of public relations,' community, civic involvement all built around a strengthening and safe guarding our precious, free enterprise system. And the message that I hope to give you, as you will be eating your lunch today, is really not so much about the image of individuals but as the attitudes built on what Bill Banowsky

Jan 1, 1982

By Randy Wheeler

In recent years the issue of seismograph calibration and accuracy has been a major focal point of the ISEE Blast Vibration and Seismograph Section. In fact, questions concerning the consistency and reliability of seismograph measurements essentially led to the development of this ISEE section. One of the early actions of the section involved the development of “Field Practice Guidelines” for the use of seismographs. These guidelines specifically state that “Placement and coupling of the vibration sensor are the two most important factors to ensure accurate ground vibration recordings.” This paper will address the results obtained from using different coupling methods to record vibration and airblast levels generated from production blasting in a limestone quarry. The data obtained clearly indicate that seismometer burial provides the best coupling for recording ground vibrations. Microphone height has also been an issue regarding the accuracy of recorded airblast levels. The data we obtained indicates that microphone height is not a significant factor.

Jan 1, 2004

By T. Sterry Hunt

Jan 1, 1882

By I. A. Tinto

Labrador City is located in the southwestern portion of Newfoundland-Labrador, approximately 965 kilometers north-east of Montreal. The mine and beneficiation complex of the Iron Ore Company of Canada, known as the Carol Project, is situated 535 metres above sea level in a climatic region characterized by cold winters and short, cool summers. History The iron Ore Company of Canada commenced work in the area in 1949, however, it was not until 1958 that the decision was made to proceed with mining operations. The ore body consists of Specular Hematite (Fe203) and Magnetite (Fe304) with small quantities of Limonite and Geothite. The average grade of the ore bodies is 39% iron.

Jan 1, 1985

By D. Harrington

In recent years over 100,000 persons have been killed annually in the United. States by accidents; about one-fifth of these have been workers in some of our industries; about one-third have been killed by motor vehicles; about another third have mot death in home accidents, chiefly falls, burns, scalds, explosions, poisons, asphyxiations, suffocations, cuts, scratches, and so forth; and the rest have been killed in public accidents, excluding those caused by vehicles but including accidents on railroads or electric cars, drowning, and deaths by firearms and. other means. Definite statistics on nonfatal accidents are not readily available, but at least 10,000,000 fairly serious accidents probably occur in the United States annually. The latest industrial-accident statistics are obtainable from 1935 National Safety Council publications, in which annual industrial fatalities are divided about as follows (in round numbers): Agriculture, 4,500; trade and service, 4,500; construction, 3,100; transportation and public utilities, 2,900; manufacturing, 2,600; mining, quarrying, petroleum, etc., 1,900.

Jan 1, 1938

By Bernard P, Lhoumaud E, Gunzburger Y, Conin M, De Santis F, Kinscher J

Seismic repeaters are commonly observed in natural fault zones dominated by slow aseismic motion. The corresponding seismic signal, characterized by highly similar wave forms, is usually interpreted as the repeating ruptures of locked asperities on fault planes (“patches of higher roughness”), loaded by a-seismically slipping areas (“creeping areas”) (Chen & Lapusta 2009; Bourouis & Bernard 2007). Only very few occurrences of seismic repeaters have been reported in underground mines, where these phenomena are rather unexpected since the stress state and the seismic wave propagation continuously evolve with the advancing excavation front (Kinscher et al., 2020). A recent study based on a local seismic network installed in the underground mine of Garpenberg, Sweden, has shown that seismic repeaters and multiplets represent the main part of the total released seismic energy (magnitude of seismic events: -2 < M <1, on moment magnitude scale), with some seismic families being active during several months to years. It is suggested that repeaters are linked to aseismic slip on pre-existing talc-filled fractures, induced by the excavation, and loading of asperities. These results imply that part of redistribution of stresses in the mine is due to aseismic slip, which might explain the observed distant and delayed seismicity.

Apr 26, 2022

By David R. Macedon

"Through the years, a wide variety of dust control methods have been utilized at mineral processing operations. While some have been successful, many have been highly ineffective. Dust Control systems currently in use include baghouse systems, fog systems, surfactant spray systems, and foam dust suppression. While baghouse systems can be effective, they are capitalintensive and costly to operate and maintain. Chemical dust control programs can be very effective. However, if applied incorrectly, they can have detrimental effect on mineral recovery. Thus, many operations utilize a combination of baghouses and water, often with limited success.Recent advancements in surfactant and polymer chemistry have resulted in substantially improved chemical dust suppression programs. These products range from non-corrosive surfactant/humectant combinations for road dust control to foam-based systems for crushers and transfer points, to advanced polymers for pile binding and soil stabilization. These advances are discussed in detail, citing results from fieldwork in the precious and base metals industries.INTRODUCTIONThe global nature of the mineral processing industry presents a unique set of challenges. Traditional thinking would tell us what works in one place should work in another. This could not be further from the truth in the area of dust control. We learn very quickly that there are a number of factors that can affect the efficiency and success of a dust control program and that these factors are not all chemical or equipment related. Some of these factors include facility maintenance, product selection, water quality and characteristics, and economic considerations.What has been learned from past experience is that each mineral processing plant presents a unique set of factors that will affect the ability to create an optimal dust control program. This paper presents a myriad of treatment options that will highlight the advancements in chemical dust suppression products and equipment."

Jan 1, 2004

By George C. Bateman

WHAT I would like to do is to talk for a while tonight about the Canadian mining industry in wartime-at least, the Canadian mining industry as viewed through the eyes of the Metals Controller. There is nothing quite like the Canadian system in the system of controls in the United States, because the Canadian Controller combines the functions of a good many of the organizations here. I think the nearest counterpart would be the Divisional Chiefs of the WPB-although they have perhaps less authority and operate in a somewhat narrower field. My own field, as you know, is the metals and minerals-all of them, as a matter of fact, with the exception of steel and iron and coal and oil. And as I am responsible for supplies not only from domestic sources but also from foreign sources, I exercise most of the functions of the WPB and some of the functions of the Board of Economic Warfare. As my department is also responsible for stock-piling and for the financing of new operations, I therefore exercise some of the functions of the Metals Reserve and also of the Defense Plants Corporation. Being an administrator under the Wartime Prices and Trade Board, I also have the same function in relation w the price of metals as the OP A. The Canadian system of controls is compact, relatively simple, and I believe reasonably efficient. I think two of the reasons for that are that both the Controllers and the Directors of production are clothed with very wide authority, and also the fact that all the buying for the three arms of the service is done through the Department of Munitions and Supply, of which we are a part.

Jan 1, 1943

By N. F. Sather

Results of comprehensive trace element analyses of samples of Illinois #5 and #6 seam coals and the unquenched ashes obtained from gasification of these coals in a Lurgi reactor are reported and discussed. Areas where additional background information is needed for assessment of the environmental impact of trace element emissions from coal gasification are identified.

Jan 1, 1976

By Oliver Bowles, Carl A. Gnam

THE construction industry normally contributes extensively to the general economic welfare of all sections of the country. Billions of dollars are spent for materials and labor, and the success or failure of many business enterprises depends upon the volume of construction. The steel, aluminum, copper, cement, brick and tile, lime, gypsum, stone, sand and gravel, and several of the less prominent mineral industries are vitally concerned. Of great interest, therefore, is the accumulation of needed construction following the relative inactivity of the past five years, the recent moderate revival in building, and the prospect of a broader and more definite upturn. One may judge the magnitude of possible expenditure for construction by what has occurred in the past. The peak years were 1925 to 1928, inclusive, when the annual values of con- tracts awarded amounted to over six billion dollars. In marked contrast was the 1933 total of about 1% billion, the lowest level shown in the Federal Reserve Board Index, which goes back to 1919, and the more favorable 1935 figure of about 1.7 billion. An increase of nearly four billion over the 1935 volume would be necessary to equal the peak year 1928.

Jan 1, 1936