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The April General Meeting of the Institute was held in Kelvin House, Johannesburg, on 16th April, 1969, at 4.30 p.m. Mr R. C. J. Goode (president) was in the Chair. There were also present nineteen Members, including Messrs R. J. Adamson, F. P. Bath, J. K. E. Douglas, A. R. C. Fowler, P. Lambooy, D. G. Maxwell and J. A. Nixon, (Council Members), Messrs E. L. Atkinson, I. R. Chaston, J. L. Edwards, J. S. Hall, S. A. Hancox, A. F. Lee, W. K. B. Loftus, H. S. Simpson, A. N. Shand, R. A. Wilson, H. J. Wright and J. E. Van Leeuwen. Nine Associate Members, including Messrs O. Davel, G. Douglas, P. R. Garcia, D. J. Murphy, D. Rankin, G. Schwartz, H. N. Singer, S. Thompson and D. A. Viljoen. One Graduate Mr D. Bosley. Ten Visitors, including Messrs S. Adler, C. E. Alvey, B. J. Botha, K. Chant, L. W. Davis, R. N. Guest, R. V. Keet, E. G. Keown, M. D. Lourie and S. McMurray. Secretary Mr D. C. Visser. Total present: Fourty-one. MINUTES The President requested that confirmation of the minutes of the previous meeting be held over as they would only be appearing in the Journal of the following month. Agreed. MEMBERSHIP The President: "I have much pleasure in announcing that the names of the under-mentioned candidates, having been published in accordance with By-law 5.2.2, Council has elected them to membership of the Institute in the following grades: Members: Kenneth Sinc1air Rae, Ian Robert Malcolm Chaston. Associate Members: Norman Isaac Thomas, Ian Connell Robinson. Graduates: Simon Richard Jeremy Perkins, Bleddyn Reginald Lear, David Williams. Affiliate: Richard Robert Will. Students: Angus David McElwee, Clive Renard Archer, Peter Andrew Locke. MEMBER TRANSFERRED TO A HIGHER GRADE From Graduate to Associate Member: Patrick James Burns. I welcome the newly elected members to the Institute and congratulate the member who has been transferred to a higher grade." (Applause). GENERAL BUSINESS The President reminded members that a buffet supper at a cost of 55c would be available after the meeting. PAPER FOR PRESENTATION The President noted with pleasure that a strong contingent from De Beers and the Finsch Mine were present. He expressed gratitude to Mr Loftus for coming

By Jheison Lopes dos Santos

O presente estudo teve por objetivo principal produzir um cerâmico composto de alumina, nióbia e fluoreto de lítio de forma a otimizar o uso do forno na etapa de sinterização. Para isso, ponderou-se a respeito da necessidade ou não de utilização de um patamar a 1000°C utilizado em estudos anteriores. Além disso, buscou-se diminuir a temperatura de sinterização, assim como o tempo de permanência em tais temperaturas. O composto cerâmico (Al2O3–4%Nb2O5)–0,5%LiF foi sinterizado a três temperaturas diferentes (1200, 1250 e 1300 ºC), com tempo de patamar de 1h. Foi realizado ensaio de Arquimedes para analisar sua densificação e determinar sua densidade. As fases formadas nessas temperaturas foram identificadas por difração de raios-X. Os resultados mostraram que a maior densificação foi obtida para a maior temperatura, de 1300 ºC. Foi possível observar também que um patamar de apenas 1h na temperatura de sinterização de 1300 ºC apresentou igual densificação a de outros trabalhos, com tempo de patamar de 3h. Este fato sugere que a temperatura tem maior influência na sinterização do que o tempo de permanência. Verificou-se ainda que as mesmas fases foram formadas nas três temperaturas investigadas, sendo tais fases as mesmas detectadas em trabalhos anteriores com patamares maiores. Isso mostra que o prolongado tempo de 3h no patamar de sinterização apenas favorece o crescimento dos grãos, bastando apenas a permanência de 1h para alcançar os resultados desejados e com grãos menores.

Oct 30, 2017

By Yunqing Tian, Wenbin Huang, Weidong Zhang, Xiaopeng Wang, Gele Qing, Xiangjuan Duan

Pellet production requires iron ore concentrates have fine particle size, high specific surface area and good balling performance, so iron ore concentrates appropriate for pelletizing is limited compared to sintering. In order to extend the iron ore resources for pelletizing, the iron ore fines for sinter are studied in this paper.The effect of grinded iron ores o npelletizing, roasting and pellet quality were studied in this paper. The bond grinding index of iron ore fine is between 12.5 and 16.98 kwh/t. The grinded iron ore fine has good balling performance, the drop number and compressive strength of green pellet were improved with increase of grinded iron ore fine ratio. The compressive strength of roasted pellets were decreased with increase of grinded iron ore fine ratio, however it can be reached 2500 N.P −1 while proportioned with more than 80% of magnetite iron ore concentrate.

Mar 1, 2018

By S. Michael Feroz, Michael J. Britch, Frank S. Buehler

The City of Portland is constructing the Columbia Slough Consolidation Conduit as a part of its commitment to reduce combined sewer overflows into the Willamette River and the Columbia Slough. Known as “The Big Pipe,” the conduit has a 3.7 m. (12 ft.) internal diameter and is 5,640 m. (18,500 ft.) long. Construction Segment 1 of the project includes 250 m. (814 ft.) of reinforced concrete pipe (RCP) installed by boring and jacking. Five separate crossings were constructed beneath Union Pacific Railroad tracks and Columbia Boulevard, an adjacent arterial roadway. This paper describes the design and construction of these bored and jacked crossings.

Jan 1, 1999

By Edgardo Caro Orellana

El yacimiento Coroccohuayco fue descubierto durante el transcurso del segundo año de exploración (1971-1973) a través de un programa de Levantamiento Geológico del cuadriángulo Velli-Yauri, Cusco, considerándose como un ejemplo de prospección científica. En esta perspectiva, el objetivo del texto señala cuáles son los métodos de exploración empleados para dicho yacimiento. Entre los métodos del estudio regional tenemos la fotogeología, aeromagnetría y gravimetría y entre los métodos del estudio local están la geoquimiica, geofísica y perforación diamantina. Asimismo se menciona la prospección geofísica por el método de polarización inducida y la perforación diamantina.

Nov 20, 1978

This report, which updates and supersedes the Office of Surface Mining's 10-year progress report published in 1987, deals with the accomplishments of the regulatory and abandoned mine land reclamation programs during the first 15 years of the Surface Mining Control and Reclamation Act of 1977 (SMCRA). Part 1 is an illustrated description of on-the-ground accomplishments; Part 2 presents statistical information for the 15-year period. The data in this statistical report are organized in two sections: national statistics and state statistics. The national statistics provide an overview of coal mining and the implementation of SMCRA since 1977. The information reported for the states presents a brief description of the coal reserves in each area, accompanied by detailed statistics and graphs that relate each state to the nation as a whole. The statistics compiled in this report are from the Office of Surface Mining's files, computer data systems, and annual reports. During the early years of the program, many of the data categories were evolving and changing; therefore, data reported over the 15-year period are not complete for all states for all years, and where data was unavailable or zero, a dash (-) is shown for that item. The data sources used to compile the tables and graphs are listed and described in detail on page 76. Due to the number of requests for this information in the past, statistical information about coal mining and its regulation will be available each year as an appendix to the Office of Surface Mining's Annual Report to Congress. Beginning in Fiscal Year 1993, this information will be compiled and published on an annual basis. For more information about this report, call or write the: Public Affairs Office Office of Surface Mining 1951 Constitution Ave., N. W. Washington, D.C. 20240 (202) 208-2553

Jan 1, 1992

By Sean Gallagher

Study Design. A split-plot experimental design was used to evaluate the influence of posture, trunk angle, and rotational velocity on peak torque output and myoelectric activity during maximal trunk extension maneuvers. Objectives. To determine whether the kneeling posture alters extension torque capabilities in isometric and isokinetic exercises as compared with standing. Also, to ascertain whether recruitment of trunk muscles is modified by such a postural change. Summary of Background Data. Factors such as workplace geometry may force workers to adopt awkward or unusual postures in the performance of manual tasks. An understanding of the limitations placed on strength in unconventional working postures is crucial to the proper design of jobs. Methods. Twenty-one healthy male subjects (mean age = 36 years 7 SD) performed 12 trunk extension exertions in standing and kneeling postures. Isometric tests were performed at 22.5°. 45°, and 67.5° of trunk flexion. isokinetic tests were done at three velocities: 30°/sec, 60°/sec, and 90°/sec. Electromyographic data were collected from eight trunk muscles to assess muscle recruitment under each condition. A prior; orthogonal contrasts were specified for analysis of both torque and electromyographic data. Results. The kneeling posture was associated with a 15% decrease in peak torque output when contrasted with standing; however, no concomitant change in trunk muscle activity was evident. Trunk hyperflexion (isometric tests) and increasing rotational velocity (isokinetic tests) were associated with reduced torque in both postures. Trunk muscle activity was primarily affected by changes in trunk angle and velocity of contraction. Conclusions. A reduced extensor capability exists in the kneeling posture, despite equivalent trunk muscle activity. The similar activation patterns in both postures suggest that the strength deficit does not result from alterations in trunk muscle function. Rather, it may be the consequence of a reduced capability to rotate the pelvis in the kneeling posture, due to a disruption of the biornechanical linkage of the leg structures. [Key words: electromyography, isokinetic, isometric, low back pain, posture. strength1 Spine 1997;22:1864-1872

By G. N. Nnadi, R. J. Mitchell

"The response of cemented backfills subjected to simulated blast loadings is studied using centrifugal modelling techniques. Scaling requirements for centrifugal modelling are developed and the results of the similitude analysis show that an acceleration field is required to capture the true dynamic response of backfill models. Experiments have been conducted at various centrifugal accelerations. The effects of ring blasting were simulated by an impact loading on the exposed fill face. The behaviour of the cemented backfill was monitored with accelerometers as well as dynamic stress gauges.Cemented backfill response to impact loadings was found to depend strongly on simulated gravitational stress level. Results also show that the characteristics of the response changes with distance from the impact. Finally, the results of the models were used to predict prototype peak accelerations, velocities and displacements. The results reported in this study indicate that centrifuge modelling may be a useful tool for dynamic studies of blast damage to backfills. Centrifuge modelling can be carried out at low costs and can be used to design prototype instrumentation systems. IntroductionThe response of cemented mine backfills to blast loadings is of concern to the mining industry because these backfills provide local and regional support during ore pillar extraction. Considerable research has been reported on the static stability (Smith et al., 1983) and on effects of reinforcements on cemented backfills (Mitchell, 1989). However, information regarding dynamic aspects of cemented backfill is limited. O'Hearn and Swan (1989) reported on the response of cemented backfill to blast loading, but these blasts were not very dose to the backfill . A schematic representation of a rock-backfill system is shown in Figure I.The mechanics of transfer of explosive energy to rock and subsequently to the backfill, and the resulting responses, are complex. Achison (1968) listed more than twenty factor s affecting the blast fragmentation of rock and grouped these into the categories of explosive parameters, charge parameters and rock parameters. Although significant advances have been made, during the past two decades, in understanding the mechanics of blasting, the degree of uncertainty associated with predicting the behaviour of backfills subjected to dynamic loadings makes the application of simple design safety factors insufficient. Comprehensive testing programs or prototype instrumentation is required to evaluate the risks associated with blast or earthquake loadings on backfill."

Jan 1, 1991

By Shiels O. J

The paper reviews developments in general galvanising in Australia, including a brief history of the industry and its technology. The changes in galvanising process technology are covered, as well as developments in galvanising bath design, materials handling and pre-treatment. Developments in zinc management through the use of aluminium and nickel alloys are discussed. The paper addresses the cost components of general galvanising and relates this to the competitive position of general galvanising against other coatings used for protecting steel. The environmental aspects of the general galvanising industry in Australia are outlined with respect to the utilisation of process chemicals, problems associated with their disposal and developments in filtering and regeneration of process solutions. The current status of the industry is assessed in terms of zinc usage and usage trends. Likely changes in technology which may impact on the general galvanising industry in the future are reviewed.

Jan 1, 1993

By A. K. K. Rompel, G. K. Chunnett

Introduction Structure appears to be of secondary importance to the Bushveld Complex when viewed from a distance. However, a closer look already reveals that large fault zones bound the Bushveld Complex. These fault zones are deep-seated crustal lineaments of continental magnitude such as the Thabazimbi-Murchison Lineament, the Johannesburg-Barberton Lineament, the Palala Fault zone and the Rustenburg fault. Furthermore, the Bushveld Complex is transected by large faults such as the Vlakfontein Fault, visible in the Pilanesberg, the Steelport Fault and the Laersdfrift Fault in the Eastern Bushveld, the Brits Graben, and a multitude of dyke generations (Figure 1). When pursuing structures on a project scale, the lack of outcrop, particularly in the western part of the Bushveld, is of no help for the exploration geologist. Consequently, the first dataset that needs to be considered is the Landsatimagery. Older Landsat TM 5 or newer Landsat ETM 7 will immediately reveal areas of outcrop for field visits, and, after further processing, indicate the geological units, in particular the platiniferous Critical and the Main Zone of the Rustenburg Layered Suite (Figure 2). Airborne magnetic surveys are the subsequent dataset necessary for any decent interpretation of the geology under the ?Black Turf? cover. Currently Anglo Platinum acquires aeromagnetic surveys with a flight height of 20 m and a line spacing of 50 m. These result in high-resolution imagery absolutely crucial for dyke delineation and dip modelling, stratigraphic layer detection, IRUP detection and possibly pothole discovery and fault delineation (Figures 3 and 4). However, the aeromagnetic surveys and the Landsat imagery reveal structures very much confined to the surface and may be hundreds of metres above the platiniferous reef horizons. This may lead to inaccuracies. When determining the underground structures for shaft sinking and mine planning, a 3D seismic survey is advisable. Too many shafts have been sunk in the Witwatersrand Basin for gold and in the Bushveld for platinum without sufficient information of the structure beneath. Recent 3D seismic surveys in the Bushveld have proven the technology and visualized the reef horizons and led to an interpretation of the underground structure (Figures 5 and 6). [ ]

Jan 1, 2004

By L. H. Marshall

MALLEABLE-IRON castings frequently are made brittle by hot-dip galvanizing. The castings may be and usually are perfectly normal before the hot-dip treatment, in that they will stand a remarkable amount of distortion and punishment before fracturing, yet, after galvanizing, a single blow with a hammer will often cause a break. One such casting broke when accidentally dropped on a concrete floor. Such weakness causes galvanizers to view malleable cast iron with misgivings, and, in turn, is a source of worry to the manufacturer of the castings. It is felt, therefore, that a practical method of overcoming this embrittlement, a method that has already been used on several thousand tons of castings, will be of general interest. The purpose of this paper is to describe this immunizing process. DEVELOPMENT OF THE PROBLEM In the early days the trade was not much concerned with the finish of the castings and in most cases the only protection given to the parts placed in service was a coat of paint. It was soon found that this form of protection was inadequate and the user demanded a better type of rustproofing. In compliance with this demand, the use of zinc for coating gradually spread until it became general practice. More than half of all the zinc produced today is used for coating iron and steel, and, in spite of the recent use of cadmium and chromium, zinc coatings are still recognized as among the best general rust inhibitors for atmospheric exposure.

Jan 2, 1926

By H. Firmstone

Deposits of cadmia, or impure oxide of zinc, are of common occurrence in the upper parts of blast furnaces using ores containing zinc, and were very common in the charcoal furnaces of Virginia working the brown hematite ores found near the Cadent black slate. These deposits were known to the old charcoal founders as "sulphur rings," and the characteristic green flame of burning zinc frequently to be seen at the tymp of furnaces working ores containing zinc, was held by them to indicate the presence of a "sulphur fall." When zinc is burning in considerable quantities at the tymp, the

Jan 1, 1879

ABSTRACT' Mainland Papua New Guinea is formed of a microcontinental / island arc system (?Eocene - latest Oligocene Sepic arc) which in Middle to Late Miocene times was obducted over the northward- moving Australian plate. The sedimentary and volcanic units of this system form part of the Wogamush Group (Aure beds, Mena beds, Omaura Formation, Movi beds, Wogamush beds, Wogamush Formation. Nansananka Conglomerate and other correlates in- eluding cale-alkaline volcanics and carbonate beds). This Sepic event was followed in Pliocene-Present times by the obduction of the Finisterre-Adelbert-Oenake fore-arc or possibly oceanic plateau. Obduction of the Sepic arc produced crustal thickening

Jan 1, 1997

In the last few years it has become legal for women to work without restriction underground in some States in Australia. Since the mid 1970's there have been women graduates in mining engineering from several Australian tertiary institutions. Women from this group are the first females to have been employed to do manual work underground this century. The questions which arise are "What are the current parameters surrounding the employment of women underground?" and "What have been the experiences of those women who have worked underground?". In order to answer these questions, contact has been made with the various mining schools in Australia, the relevant government departments, the main underground mining companies, the relevant unions and professional associations, and other women who have worked undergrond. Personal experience as both a miner and a mining engineer at the CSA Mine near Cobar in New South Wales is also used.

Jan 1, 1988

By D. H. Xiong

Low grade oxidized iron ores are usually not economic to utilize. However, the development of SLon magnetic separators and other new technologies make the process cost lower and lower. In this paper, several low-grade oxidized iron ore process flowsheets are introduced. The key procedure is that at the early stage, SLon magnetic separators are applied to discharge as more tails as possible with very low cost, only a small portion of rough concentrate going to the cleaning stage, showing the new technologies are profitable for such iron ores.

Jan 1, 2014

By Walter Miller

Any review of the engineering progress made in 1932 in the petroleum refining industry must necessarily be broad and general, improvements having been made in practically all major branches of this activity. Several factors contributed to an advancement on a wide front, much of it coming from those active in refining, considerable from those not, immediately in it but engaged in designing and installing equipment and maintaining large and capable staffs of experts in both engineering and development work. Another factor has been the ability of the refiner, because of less than capacity operation, to carry on experimental and development work in regular plant equipment. The movement to higher antiknock value gasoline has continued through 1932, and the average improvement of the more widely sold branded gasolines is from 3 to 4 points higher in the octane scale. A very great improvement was brought about during the year in the method of determining the octane number of gasoline. While the procedure and equipment for determining this value as developed by the Cooperative Fuel &search Steering Committee prior to 1932 had received fairly general acceptance, evidence that it did not always evaluate in a measure consistent with road performance quickly accumulated, and led to further effort to synchronize laboratory results with actual use. As the result of some really brilliant work on the part of the C.F.R. Committee and a large number of collaborators, it was found that a comparatively minor modification of the previously developed equipment and method gave surprisingly concordant results between laboratory tests and trial per-formance on the road. This method has been officially accepted by the Society of Automotive Engineers and the American Petroleum Institute, and will according to present plans go into general use on April 1, 1933. The American Society for Testing Materials has studied the method but at the time of writing this had not reached a final decision regarding it. Improved Volatility of Gasoline The most notable trend during the year, in addition to a very considerable increase in antiknock value referred to above, has been in the

Jan 1, 1933

By R. W. Luhning, S. D. Gittins, J .. A. Haston

"The Underground Test Facility (UTF) project operated by the Alberta Oil Sands Technology and Research Authority (AOSTRA) north of Fort McMurray has achieved marked success in field testing mining access and horizontal well in situ recovery of bitumen from the Athabasca oil sands.Mine access has provided for effective placing and operation of horizontal wells in the oil sands from a tunnel system in the underlying limestone. Performance of the in situ recovery process, Steam Assisted Gravity Drainage, has substantially exceeded forecasts made at the start of the project. Over-all results of the program to date show great promise for horizontal well in situ technology as a competitive source of bitumen from Alberta's vast oil sands deposits. The potential economics of a commercial expansion at the site are reviewed in this paper.IntroductionIn situ recovery o f bitumen from the Athabasca oil sands has puzzled the oil industry for many year s, but a breakthrough appears close at hand. The Underground Test Facility (UTF) project initiated by the Alberta Oil Sands Technology and Research Authority (AOSTRA) has had notable success in the piloting of horizontal well processes, which offer prospects for commercial development even under the highly competitive situation facing the Canadian industry . This paper describes the project briefly and presents the potential economics of commercial development on the UTF lease."

Jan 1, 1990

By Walter Herd

Fox the past eight years No. 2 mine of the Cumberland Railway & Coal Co., Springhill, Nova Scotia-a subsidiary of the Dominion Coal Co., Ltd.-has had an unenviable reputation for bumps. As the workings extended in certain directions under a greater cover, these bumps increased in severity and it became apparent that some change in the system of extraction was necessary if the mine was to continue to operate. In September, 1924, following several fatalities resulting from bumps, the Mines Department of Nova Scotia requested from the U. S. Bureau of Mines the services of George S. Rice, Chief Mining Engineer of the Bureau, to report on the conditions then prevalent in No. 2 mine, Springhill. This request was promptly and courteously granted. Mr. Rice made a full investigation and a comprehensive and helpful report, which is embodied in the 1924 Annual Report of the Department of -Public Works and Mines, Nova Scotia. Prior to 1925, the room and pillar method was employed and in January of that year (there being a cessation of work from March to August due to labor troubles) longwall retreating on the west side, on a limited scale, and in a small section on the east side of the mine was started. The major portion of the east side was not operated on this system till August, 1926, as there was developed a considerable area ready for pillar extraction between an arbitrary boundary and a point up to which bumps of any consequence, had not been experienced. In the interval development work for longwall retreating below the 5900-ft. level was vigorously- pushed. This longwall retreating system was suggested by Mr. Rice as a possible remedy and was heartily endorsed by the company officials. This paper describes the conditions and happenings subsequent to Mr. Rice's report and more especially the results with the longwall retreating system of mining under the peculiar circumstances pertaining to mining. No. 2 Seam, Springhill, at depth, and records the 'conclusions which experience with several severe bumps under this mode of extraction would suggest. Except where necessary to make the paper intelligible as an entity any duplication of Mr. Rice's report will be avoided.

Jan 1, 1929

By V. C. P. Morfopoulos, N. Arbiter

Theoretical and experimental studies of the interactions of mineral particles with electrical fields of cylindrical symmetry have been made. Theoretically, an expression relating field gradient and intensity to the force experienced by a dielectric particle was derived in a manner paralleling the magnetic analog. Pauthenier's and Cohen's expressions were considered in the evaluation of coulombic forces. Comparison of dielectric and coulombic interactions of minerals exhibiting a wide difference in dielectric susceptibility revealed the potential significance of dielectric forces in a field of appropriate characteristics. Experimentally, apparatus was designed for the study of forces experienced by a single stationary particle in an electrostatic field. This permitted the separate and precise measurement of dielectric interactions in the field. The experimental results were in good agreement with the theory and with relevant published data. Dielectric forces were found of comparable magnitude with coulombic in the presence of an adequate field gradient. Prolonged exposure of minerals to an inhomogeneous field was found to enhance the dielectric response. Dielectric inter- actions properly employed may thus be important in electrostatic concentration techniques. Conventional electrostatic separation techniques employ forces between charged particles and field electrodes to establish the trajectories which effect separation. Uncharged mineral aggregates, although unaffected by homogeneous electrical fields, should respond to fields exhibiting appropriate orientation and electrical gradients. The purpose of this paper is to establish the theoretical and experimental base for the comparison of the forces due to dielectric-field interactions with those of electrostatic origin. Apparatus and techniques developed for the determination of dielectric interactions are described and data on the dielectric forces experienced by stationary particles in cylindrical fields are reported. Finally, a quantitative comparison of dielectric and electrostatic forces is given. THEORY Dielectric Forces: When dielectric particles, minerals for example, are placed in an inhomogeneous field they experience interactions that give rise to substantial dielectric forces.' The latter were shown proportional to the intensity of the field, the potential gradient, the size of the particles and the dielectric permittivity difference between the particles and the medium. The properties of the inhomogeneous field, E, and the magnitude of the gradient, dE/dl, depend on the geometry of the system in question.

Jan 1, 1965

By John J. Croston

IN the closing months of 1936 the copper industry gave every evidence that it was at last on the threshold of an improved era. At the beginning of the year prices stood at 9 ¼ ¢, which in itself was a great improvement over prices prevailing for the three previous years. Industry generally was showing signs of moving forward in this country, and business was definitely good in certain foreign quarters. The threat of war and preparations for rearmament in Europe and Asia acted as a further stimulus to purchasing. By midsummer the situation had so improved and stocks had been so reduced that the cartel of foreign producers (including American producers with foreign mines) decided to increase the production quota to 75 per cent on Aug. 1. Large-scale buying gave continued strength to the price and by Oct. 1 the quota was increased to 80 per cent, and again on Oct. 15, to 85 per cent. Notwithstanding this the price of copper continued its advance and on Nov. 1, with stocks declining continuously, the cartel increased operations to 95 per cent, then to 105 per cent on Nov. 5. In the meantime the domestic producers, because of the great increase in home consumption, had increased their production by nearly one-half. At the close of the year copper sold at 12¢ per pound, and since the turn of the present year has reached 17¢. This rapid increase has not been wholly justified. Much of the increase was due to the legitimate demands of recovering industry, but rearmament orders plus accumulation of reserve stocks in case of war, purchases in anticipation of labor strikes and purely speculative activities on the London Metal Exchange accounted for the balance. Certainly in view of the state of industry and the general world price level, it appears unnecessarily high. Talk of a copper shortage is sheer nonsense, the recent condition in the market being created by overbuying, leaving but a small volume for speculative supplies. It takes some months for an increase in mine output to reach the market, but production is again overtaking apparent consumption, stocks have begun to increase, and this, together with the reopening of many small

Jan 1, 1937