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By F. W. Gray

A GEOLOGICAL study seeking to determine, for economic purposes, the value of the Sydney coalfield as a source of coal supply. Limitations of the coalfield come under two main heads: (a) Areal extent of the undersea coalfield. (b) The distance from shore at which coal can be mined at a cost of production permitting its profitable sale. Conclusions reached are that the areal extent of seams below the Phalen seam is of. small economic importance, and that non-persistence of these seams in full thickness and quality in the undersea extension of the coalfield will put an end to profitable mining before any limitations connected with distance from the shore-line become operative. With respect to the Phalen seam, non-persistence or deterioration of the seam will become effective in the western part of the coalfield, and less certainly in the eastern part of the coalfield, before operation of limitations by distance from shore. In the central portion of the coalfield, the seam probably persists in commercially workable thickness and quality to beyond the limit of mining set by distance from the shore-line. With respect to the seams above the Phalen seam between the Mountain fault on the extreme western boundary of the coalfield and the assumed termination of the deposition area on the eastern extremity of the field near South Head of Morien, there appear to be only such limitations as arise from engineering approach, distance from shore, sufficiency of strata cover between the sea-floor and the upper coal seams, and quality of the coal (with certain reservations as to the continuity of the upper seams under Sydney harbour and in the Sydney Mines-Little Bras d'Or district). Some of these seams have fragmentary land outcroppings from which their persistence seaward is assumed, and there may be other and still higher seams in the strata column which are entirely submarine.

Jan 1, 1941

By F. J. Alcock

THE Magdalen islands have recently been attracting attention as a possible source of manganese. As early as 1880 small masses of manganese oxides were known to occur in the soil and at least one attempt was made to develop them. In 1939, after the outbreak of war, interest in the possibilities of the field was again aroused and during the winter of 1939-40 claims were taken up by two groups of Toronto interests. The islands also contain large quantities of gypsum. During the summer of 1940, the writer mapped the islands geologically, giving particular attention to a study of the manganese occurrences. For a base-map, the chart of the islands was enlarged to a scale of half a mile to an inch. Additional roads were added from traverses carried out in connection with the geological work, and form lines with approximate 100-foot intervals were put on from barometer readings. The geological map is the first that has been prepared of the islands. Previous Work In the summer of 1880, James Richardson of the Geological Survey of Canada studied the rocks of the islands and his r~port concerning them appears as Part G of the Report of Progress, 1879-80. In 1903, J. Obalski, Inspector of Mines for the Department of Lands, Mines and Fisheries of the Province of Quebec, visited the islands, chiefly to investigate the occurrences of manganese and gypsum, and his notes are found in the report on mining operations in the Province for that year. Around 1890, Robert Chalmers of the Geological Survey paid a visit to the islands, and his observations, which chiefly concerned the surface geology, appear in the Annual Report of the Survey, Vol. VII, 1894, Part M, p. 94. The next geological work was carried out by John M. Clarke, Director of the New York State Geological Survey. Clarke paid many visits to Gaspé peninsula between the years 1900 and 1920, collecting fossils and gathering h1s~orical data, and extended his investigations of Gaspé county over to the Magdalens. His Observations on the Magda/en Islands is included in the New York State Museum Bulletin 149, seventh report of the Director, 1910.

Jan 1, 1941

By John Mahoney

We live in a world of change and the mining industry is enjoying some of the most rapid changes today that have been seen in a long time, We'd like you to open your mind to a new concept in material handling. Figure # 1 Shows a new concept combining some of the proven application advantages of the power shovel with which we are all familiar, and applies the advantages of the dragline for the benefit of the user. First, the hydraulic excavator enjoys tooth forces of the shovel because the dipper is attached to the machine with a dipperstick and boom, and can often actually realize greater tooth forces than a shovel because of the prize action of the dipper in hard digging. Second, the hydraulic excavator enjoys the application advantage of the dragline because both the operator and the machine are up above, sitting on top where the operator oversees the excavation and the machine's operating work range is greatly increased.

Jan 1, 1973

By Allen Rogers

IT IS universal practice for corporations, at the end of the fiscal period, to call in a firm of chartered accountants to audit the books. The effect of this is to put an independent organization's seal of approval on the accounting of the business done by the management. Their report lets the stockholders know that the accounts rendered truly present the results of the year's business. This is as it should be; the average stockholder has no personal contact or even acquaintance with the managers of his enterprise and the approval of their stewardship by an indepen-dent agent is very desirable for maintaining confidence in their honesty and ability. But such an examination deals only with what may be called the arithmetic of the business; even the most elaborate audit, as the practice is at present, goes no further than to verify the items of the inventory. In other words, while checking up the entries showing the transaction's of the year and certifying to the correct-ness of the items of the balance sheet, such a report gives the stockholder no idea of the ability with which his affairs have been managed. If the profit and loss balance is satisfactory, as certified by the public accountants, he assumes that the management has been able; where it is not, he turns to the president's report and usually finds an explanation. Such an explanation never takes the form of admission of mis-takes in business judgment or of bad technical manage-ment. It could hardly be expected that it would. The stockholder is generally furnished, therefore, with a certificate of the honesty of his management, but never one of its ability. He does not worry about the latter as long as dividends come in; when they cease, his action generally finds expression in replacing the management. In other words, so long as profits are realized, he assumes the management to be good, even though its success is a matter beyond its control and better management would make larger profits. When there is no profit, the stockholders have no means of knowing whether it is due to conditions beyond the control of the management, as the annual report is sure to allege, or whether, by better management, profit is possible. Here is where the technical audit comes in.

Jan 6, 1922

By Effingham Humphrey

THE Lehigh Valley. Coal Co. finished the rebuilding of its Drifton No. 2 breaker at Drifton, Pa., in the summer of 1917. The new construction comprises an addition and the complete remodeling of the old breaker. It is of interest to note that the old structure was the first iron breaker erected in the anthracite region. THE OLD BREAKER This old breaker was built by the Cross Creek Coal Co., under the direction of the late Eckley B. Cole, in 1888-89, and was fully described by him in the Transactions.1 The columns were cast iron, 8,'10 and 12 in. square. The floors and partitions in pockets were cast-iron ribbed plates. The struts were cast iron of "H" section; the other members were of structural iron either rolled I-beams or built-up sections. The sizes of the rolled beams varied from 6 to 20 in. deep, while the built-up sections, made of plates and angles, varied from 6 to 63 in. in depth, so that there apparently was no rule to determine the type of section used. In the remodeling of the old structure, practically everything was taken clown excepting the columns and roof, and such beams as were necessary for temporary construction purposes, and, therefore, a close inspection of the old structural members could be made and the effect of the acid water oil them could be noted. The cast-iron members were but slightly attacked by the water, while the wrought-iron beams, in the wet places, were corroded almost to failure.

Jan 2, 1918

On Wednesday evening, Jan. 27, 1915, were held in the auditorium of the Engineering Societies Building the inaugural exercises of The Engineering Foundation, established by the United Engineering Society. The initial gift to the Foundation of $200,000, made by Ambrose Swasey, Past President of the American Society of Mechanical Engineers, was formally accepted at this time. So far as known this is the first instance of a foundation devoted to engineering purposes. This meeting con-stituted also an appropriate tribute to the generous gift made to the Foundation and gave opportunity for expression of the satisfaction and approval which are felt by engineers everywhere at the establishment of a means of promoting the good of mankind through the work of the engineer along the broadest lines. Gano Dunn, President of the United Engineering Society and Past President of the American Institute of Electrical Engineers, acted as presiding officer, and on the platform were seated representatives of the three societies constituting the United Engineering Society, and of the American Society of Civil Engineers. Members of the four societies and many other friends interested in the profession composed the audience.

Jan 3, 1915

The finding of gold, in enriching quantity, along the streams that issued from the western foothills of the Sierra Nevada was the prelude not only to the birth of an organized mining industry in California but to the intensive exploration of the entire Pacific slope; it presaged the feverish exploitation of the mineral resources that the ubiquitous prospector soon uncovered all over our western domain. At first when this migration began, as typified by the rush of 1849, there was no time to examine the signs of ore that were to be detected along the track of adventure, and, it must be added, not many in that motley crowd of gold-seekers were qualified to interpret the signs if they had lingered to look at them. Such intelligent curiosity as a few of them possessed was directed to the finding of gold chiefly, if not exclusively; and their good sense in this respect can not be impugned, because in a new and remote country the less valuable metals and minerals are unlikely to be worth the winning. Many of those that came to California crossed the alkaline wastes and sagebrush prairies that extend between the Great Sal? Lake and the ramparts of the snow-clad Sierra; when coming overland they found it convenient to halt on the eastern slope and to pitch their camp in the valley of the Car- son river before they began the tedious ascent of the mountains and the final entry into the land of gold. One of the trails most used by these immigrants followed the Carson river to the mountain meadows south of Lake Tahoe and then descended among the pine-woods of Placerville, where they went to work with pan and shovel in the gold-bearing streams

Jan 1, 1932

By L. D. Jaffe, John H. Hollomon

THE hardenability concept has become widely used during the last few years for the choice and substitution of steels. Before the work of Grossmann,1 the systems for predicting hardenability from chemical composition could be used only over a narrow range of composition. Grossmann introduced a comprehensive system, which has been effective in calculating the hardenability of most types of moderate or low-alloy steels. However, occasions .often arise that require the calculation of the hardenability of high-alloy steels from their chemical compositions. Experimental determinations of the hardenabilities of such steels indicate that the Grossmann system predicts much greater hardenabilities than are realized. The fact that cases do arise in which the Grossmann method does not, apply indicates that the fundamental hypothesis of the system may not be generally applicable. It seems advisable to re-examine not only Grossmann's system but also the concept of hardenability itself. HARDENABILITY If steel parts are to possess a martensitic structure after quenching, they must first be austenitized and then cooled through the pearlite and bainite transformation ranges sufficiently rapidly to avoid the formation of pearlite, bainite, and proeutectoid products.* If, on cooling, these transformations are avoided, the resulting structure can consist only of martensite (and retained austenite). The hardenability of a steel is measured in terms of the severity of the cooling conditions necessary to avoid the pearlite and bainite transformations. The less rapid is the cooling necessary to prevent the formation of bainite and pearlite, the higher is the hardenability. The pearlite and bainite reactions appear to be differently affected by the alloying elements. Not only is this indicated by the published isothermal transformation data, but recent work by Zener2 affords a rational interpretation of the differing effects of the alloying elements. Manganese,3 for example, appears to decrease the rates of the pearlite and bainite transformations by equal percentages, while molybdenum4,5 is approximately 10,000 times more effective in retarding the pearlite than in retarding the bainite transformation, on the basis of isothermal measurements. In some steels, the formation of bainite restricts the formation of martensite while

Jan 1, 1946

By P. G. Keohane, J. S. Drake

"Cominco's Polaris Mine is a lead-zinc underground operation that began commercial production in early 1982. The mine site is located on Little Cornwallis Island in the Canadian Arctic at a latitude of 75°23'N and at a longitude of 96°55'W. The nearest settlement, Resolute Bay, some 100 kilometres southeasterly from the mine, is accessed from the mine by light aircraft. The mine site can be accessed by sea during the six-week ice-free period each year. During this time all major operating supplies are brought to the mine and the lead and zinc concentrate products are shipped out to market.GeologyThe Polaris orebody lies near the top of the Thumb Mountain Formation of Ordovician age. This formation is a relatively homogeneous section of thin to medium bedded limestones which are brecciated and dolomitized in the area around the orebody. The deposit is described as a Mississippi Valley-type orebody. Ore minerals are sphalerite and galena with the waste being predominantly dolomite with calcite and marcasite. The ore is quite porous with voids being generally filled with ice as the mineralized zone lies entirely within permafrost. Reserves consist of about twenty million tonnes of ore grading 3.8% Pb and 14.3% Zn with a further three million tonnes of inferred ore at a slightly lower grade.The orebody strikes in a north-south direction with the hangingwall dipping at about twenty degrees to the east. It is generally conformable with the stratigraphy. The footwall in the western portion of the orebody, the Panhandle, lies about 10 to 30 metres below the hangingwall. To the east the footwall drops sharply, creating an orebody height of up to 110 metres in what is referred to as the Keel Zone. The Panhandle Zone has typically 80 - 110 metres of cover above the hangingwall , About 25% of the reserves are in the Panhandle Zone, the remainder being in the Keel Zone. Figure I illustrates a plan view of the orebody relative to other surface facilities on the property and Figure 2 illustrates a simplified section through the Panhandle and Keel Zones."

Jan 1, 1985

By Alexander N. Winchell

"The waters of Lake Superior flow into those of Lake Huron through the St. Mary's river. The rapids in this river are about half a mile wide and three-quarters of a mile long, in which distance the fall amounts to about twenty feet. Since this was the only obstacle to navigation between the west end of Lake Superior and ports on any of the other Great Lakes except Ontario, attempts were made many years ago to permit the passage of small boats from Lake Huron to Lake Superior by means of canals and locks. The first canal was built on the Canadian side of the river by the Northwest Fur Company in 1797-98. The lock was 38 feet long, 8 feet 9 inches wide and had a lift of 9 feet. A tow path was made along the shores for oxen to track the bateaux and canoes through the upper part of the rapids., The lock was destroyed during the war of 1812 by United States troops from Mackinac Island.The first ship canal, known as the State Canal, was built on the American side of the river in 1853-55, about 750,000 acres of land in Michigan having been granted by congress to a private company as a 'concession for its construction. This canal was more than a mile long, 65 feet wide at the bottom and 100 feet wide at the water's surface. It had two locks, each 350 feet long by 70 feet wide, with a lift of about 9 feet. The depth of water in the canal was about 13 feet and in the locks about 11 1/2 feet."

Jan 1, 1920

By A. J. Baer

"DEFINITION OF THE REGION AND ITS BOUNDARIESTHE EXPOSED PART OF THE GRENVILLE PROVINCE is the southeastern part of the Canadian Shield, characterized by crystalline rocks with K-Ar ages of about 1,000 million years. Its Canadian portion is bounded on the southwest by Georgian Bay •and by Paleozoic sediments south of a line passing through Orillia and Kingston, on the southeast by the St. Lawrence River valley and the north shore of the Gulf of the St. Lawrence, on the east by the coast of Labrador and on the northwest by the Grenville front, a linear tec-tonic feature that is a metamorphic transition zone and/or a fault. Rocks located to the southeast of the front have younger K-Ar radiom€tric ages than rocks located to the northwest of it.The region is formed of complexly deformed and highly metamorphosed crystalline rocks and in part differs from other areas of the Canadian Shield by the presence of large amounts of crystalline limestone and bodies of anorthosite."

Jan 1, 1970

By AIME AIME

THE annual fall meeting of the Institute of Metals and the Iron and Steel divisions, in conjunction with the American .Society for Steel Treating and the Metal Congress and Show, at Boston was from many standpoints the most successful we have had to date. While many faces were missing from the various gatherings, the Institute registration reached the high mark of 324 members and guests. Cooperating with the Steel Treaters were also the American Society of Mechanical Engineers, the Society of Automotive Engineers and the American Welding Society. ,The meeting was, as usual, a three-ring circus with technical sessions 'galore, plant .trips, visits to the Exposition, social events such as lunch- eons and dinners as well as entertainment for the ladies present.

Jan 1, 1931

By Walter McDermott

THIS machine is an improvement on the well-known endless traveling belt used for dressing slimes in many mills ; the chief point of difference, and constituting the essential advantage of the present over the old form, is the application to the machine of a secondary agitating or shaking motion, in addition to the ordinary progressive motion of-the belt. In the machine as heretofore made, the inclined belt or apron moved slowly up against a thin stream of water and ore, depositing the concentrations carried over in a tank placed below, through which the belt travelled, of course, in a reversed position. By reference to the accompanying drawings, it will be seen that in this main principle the new modification does not differ materially; but the means by which it is carried out are essentially different. The machine consists of a substantial frame of mood, F, Figs. 41, 42, and 43, within which hang the shaking frame and rollers, B B, A, Endless apron ; B, Apron frame and rollers ; C, Driving drum ; D, pulleys; El Shaft and connecting rods; F, Wooden frame; G, Shaft of regulating Pulley ; H, Yokes. supporting the upper half of the travelling apron, A, which passes below around the driving drum, C, in the water-tank, J. On leaving the water-tank, the belt passes over the guiding and tightener pulley, G. The ends of the shaking-frame, B, are provided with iron yokes, H H, bored to admit the shafts of the end rollers, and carrying a lug, by which attachment is made to the connecting rods,

Jan 1, 1875

Briefly, the machine consists of a steel frame mounted on roller bearing wheels and axles, an electric motor, a fully enclosed speed reduction gear unit, a specially designed centrifugal pump driven through a friction clutch and silent chain, a mixture tank and agitators, and all necessary operating and control mechanism. The wheels are mounted on solid roller bearings made of special roller bearing steel, and are cast with deep chilled threads. The axles are of high carbon axle steel. A General Electric Company motor, of special design to exclude dirt and moisture, is used. It has an unusual overload capacity and a maximum torque at starting speed. Special arrangement can be also made for storage battery operation. The motor drives from one end, through a flexible coupling, to the speed reduction unit, and from the opposite end, through a similar coupling, to the pump clutch. The design of the flexible couplings is such that the drive is reversible. The speed reduction gears are enclosed in an oil and dust proof housing. All spur gears, as well as the main drive clutch, are made of steel forgings, with accurately cut teeth. An aluminum bronze worm wheel and special heat treated alloy steel worm provide the speed reduction for the traction drive. The worm shaft is mounted on Hyatt roller bearings and the thrust is taken in each direction by ball thrust bearings. The main drive shafts are of special alloy steel and operate in Hyatt roller bearings. The slow speed shafts run in extra large bronze bushings. Ample and constant lubrication is provided by splash from the gears running in oil. The Mudite pump is of special de- sign. A renewable wearing plate protects the pump casing from the natural wear of the mixture. The open runner is mounted on an extra large shaft which runs in a Hyatt roller bearing on the pump end and in Timken roller bearings on the outboard end. A special cage prevents water and grit from reaching the pump bearing. All thrust from the runner is taken on the Tim- ken bearings and these bearings also provide for the accurate and easy adjustment of the runner. The pump is driven by a silent chain, which operates on cut steel sprockets, from a friction clutch. The clutch is designed to secure long wearing qualities with minimum attention and its adjustment is easily effected. It is mounted on Hyatt roller bearings and the clutch drive shaft also runs in the same type of bearings. The pump discharges through a nozzle, which is adjustable, and controlled by the operator. The mixture tank is of approximately 650 gallons capacity. It is provided with a mixing well constructed of perforated plate screen to prevent large hard particles from getting into the valve or pump. The tank is filled through an opening in the top directly into the mixing well. On a shaft running longitudinally through the tank are arms so arranged that the mixture is thoroughly mixed and kept in continuous circulation from end to end. This shaft is driven from the speed reduction unit by a steel roller chain operating on cut sprockets. The traction drive is taken from the worm wheel shaft through steel roller chains of extra large size that run on cut steel split sprockets on both axles. An idler sprocket provides for easy chain adjustment. The axles are mounted in solid roller bearings in fully-enclosed dust proof housings, which support the frame through coil springs. These springs eliminate twisting strains on the frame on account of track irregularities and also relieve the working mechanism from road shocks. The speed reduction from the motor to the wheels is such that it gives an operating speed of approximately ninety to one hundred thirty feet per minute. The brakes are of the conventional shoe type and engage the wheels on both axles. They are operated by a hand wheel conveniently located and

Jan 1, 1925

By S. S. PRENZ

Discussion held at the sessions of the Canal Zone meeting, November, 1910. [SECRETARY'S NOTE.-As a result of this discussion, an expression of opinion covering all points of unanimous agreement was adopted and signed by members of the Institute party as individuals. This statement, which was printed in the Bulletin of December, 1910, is reprinted below, as an introduction to ,the detailed report of the discussion. It should be clearly understood that it does not constitute an official declaration by the Institute, the rules of which forbid any such action. At the New Haven meeting of February, 1909, a free discussion of the plan of the canal took place, in which the critics of the present scheme had full opportunity to state their views. That discussion was continued at considerable length in the newspapers ; but the Institute was never committed to either side. In this latter instance, the situation is precisely similar. Certain members and guests of the Institute, having had the advantage of later developments and of personal inspection, have expressed the conclusions at which they have arrived on their own responsibility ; and these conclusions are published by the Institute, subject to further discussion, like any other part of its proceedings. The general statement referred to contained a promise that the full discussion, of which it was a result, would be subsequently printed ; and this promise is fulfilled, so far as practicable, in the subjoined report, concerning which I beg to offer the following explanations: 1. It is made up of the remarks of the members of our party, as subsequently written out and mailed to the Secretary. 2. In editing these contributions, I have condensed the material considerably by cutting out much repetition of opinions and phrases ; and in such excision, I, frankly confess, the authors whose communications were delayed, have been the sufferers. Nevertheless, there is a good deal of repetition left, as there must be, when so many persons had talked so much, and come to agreement upon so many points. 3. It has been found impossible to preserve in this report the actual order of the free and informal oral discussion represented. Consequently the several contributions have been arranged in alphabetical order under the names of their authors. References to "preceding speakers," etc., must therefore be construed as referring to other speakers, preceding or following.-R. W. R.] S. S. PRINZ AUGUST WILHELM, AT SEA, November 14, 1910. We, the undersigned, members and guests of the American Institute of Mining Engineers, after a visit to the Isthmus of Panama, and inspection of the work of the United States Isthmian Canal Commission, and after full discussion of our individual impressions, find ourselves in unanimous agreement as to the following conclusions:

Jan 1, 1911

FEW whose good fortune it has been to gaze on the Utah Copper mine but will agree that it is one of the two or three most magnificent man-made spectacles in the world. Skyscrapered Manhattan Island perhaps is more inspiring; but there the effect is obtained by aggregating a thousand separate units. The Utah mine is a single thing- the biggest thing that men have made. By the end of 1931 there had been moved at Utah 222,000,000 cu. yd. of material, including ore and the waste rock that overlay it. This figure will be increased at an average rate of nearly 20,000,000 yd. per year. Excavations for the Panama Canal are estimated at 232,300,000 cu. yd., but the Canal is 50 miles long, and it is impossible to obtain a comprehensive view of the whole project at one time. The spectator, on the other hand, need only walk part way up the east slope of Bingham Canyon to see unfolded before him the whole panorama of the great copper mine. In the foreground is a huge pit bottomed for the time being 100 ft. below the normal floor of the canyon, which also is the elevation of the main railroad yard. Here from 500 to 800 standard steel railway cars, each of 80-ton capacity, are assembled daily to carry the ore to the concentrators. But the main part of the mine and that from which ore is now coming lies above this level. As can be seen in the accompanying photograph, a series of terraces or benches reaches to the top of the mountain that projects between the main branch of Bingham Canyon and Carr Fork. From bench A (the yard level) to bench W is a vertical distance of 1500 ft. In height the benches vary from 40 to 70 ft. and in width from 30 to 450 ft. The lower benches, as they skirt the mountain,

Jan 1, 1933

By Scott Tzcrner

WITHIN recent years people have begun to realize the importance and significance of the mining and allied industries. The leading part the engineer plays in civilization is becoming recognized. However accurate quantitative knowledge of the industrial importance of mining is still seldom possessed except by those close to this business. It is true that there are a few who go to the extreme and represent the whole progress of civilization as a reflection of man's gradual mastery of mineral utilization, but on the whole, the magnitude of the-industry is underestimated. In this paper I shall call attention briefly to the importance of mining in the United States, in Canada, and in the world. Ordinarily, the annual primary mineral production of the United States is about $5,500,000,000. The average for the last 5 years has been a little over that, but last year, sadly enough, it was less than 31/4 billion. Just now, we are on the decline, and have been for the last two years. In Canada, the 5-year average was about $268,000,000, and last year it was 227 million. Due in part to gold mines (in 1930, for the first time, Canada's gold production exceeded that of the United States), the Canadian average is holding up better than ours. Average world mineral production over the last -5 years has been estimated at about $12,000,000;000 whereas in 1931 it was less than than 8 billion.

Jan 1, 1932

HOW the Engineers' Memorial clock and carillon at Louvain has impressed the people of that city is indicated by the following letter sent by the Secretary of the University of Louvain to the Secretary of the United Engineering Society. We are still full of the memories of that splendid July 4, when we came into such .delightful contact with our American friends and more specially with the representation of the engineering societies of the United States. It was a great joy for all the members of the University to see those, American friends who have given to us such a splendid memorial in honor of- the brave men who fell in the Great War.

Jan 1, 1928

By AIME AIME

WEDNESDAY night, by long tradition, is al- ways set aside for the annual dinner, even when, as it was this year, it is Ash Wednesday. Whether the somewhat smaller attendance than last year is attributable to that cause, the unexpectedly long persistence of business depression, or whatever may have been the reason, it was a joyous occasion, and the grand ball-room of the Commodore Hotel was as completely filled With diners as * was consistent with com- fort. In the half hour before the dinner was actually served the guests assembled in an adjoining room and not only exchanged greetings but proceeded along the receiving line to greet the guests of honor. The number present was so large that hardly more than half of them had been able to do this before the summons to the dining room sounded and a hearty and immediate response was made to it. Toy balloons at each plate, inflated and directed at the heads of companions or nearby friends, but which were just as likely to carom from the nose of a hurrying waiter, successfully broke the ice as well as not a few plates. It would be interesting to know whether the pleasure the guests derive from these de- vices is in part based on the all-too evident annoyance of the waiters, and what the relative quantitative relationships are.

Jan 1, 1931

By Robert B. Parsons

"The pendulum in Ottawa has swung dramatically from fiscal policy to monetary policy over the last several years. International trends indicate that the pendulum has to start its swing the other way, if Canada's mining industry is to maintain its preeminent position in the global mining arena. This article, which is based on a paper presented by the author at the 37th Annual Meeting of the Newfoundland Branch of CIM, identifies these trends and how they could interact with Canadian policy.IntroductionThe title of this paper is not a very imaginative or catchy one, but it states the topic quite succinctly, if not tersely. This paper looks into a crystal ball to see what might be in store for mine financing over the balance of the current decade.In the event that the reader feels some trepidation about the prospect that such a paper could seek to be the definitive work on the subject, it should be made clear at the outset that this is not the case. The author is, after all, not an economist, a scholar, a financial analyst, or a soothsayer, but is rather a simple accountant who has been closely involved with the mining industry, and the financing thereof, for some twenty years.The paper recognizes that, while a mine may be born when production begins, the mine is conceived when exploration starts. As this act of conception is obviously an essential part of mining, the financing of exploration is also covered in this paper. To attain a focus, this paper approaches the topic of mine financing in the nineties as follows: first, the major emerging forces in the industry are identified: and, second, the implications of each of these forces on financing are considered."

Jan 1, 1991