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By Orr Hamilton

VALUATION of a mine is an approximation of its true cash value which requires the application of fundamental principles of economics. Mines are valued from necessity, for the following reasons: (a) Transfers of titles. (b) Dissolutions of partnerships or corporations. (c) Mergers of mining companies. (d) Appraisals for the purpose of State and Federal taxation. (e) Establishment of the fact of worth as a basis of loans. (f) Determination of values as frequently required in litigation. (g) Listing of stock for sale by a reputable stock exchange. For the majority of purposes a valuation is required as at the present time, but for some purposes valuations as of bygone times may more nearly reflect the intrinsic worth of a mine because its subsequent history can never be, entirely ignored, but valuations made as at the present time are better indicators of cash values. Many mines with great intrinsic worth have been sold for small cash prices. The object of legitimate mine valuations is to deter-mine salable value, or that price in cash at which a transfer of the property from a willing seller to a willing buyer might be consummated, assuming that both vendor and vendee have knowledge of all pertinent data and that the owner, is not forced to sell at a sacri-fice-the definitions of fair market value precluding a forced sale.

Jan 11, 1923

By George F. Weaton

Mining differs from the ordinary industry in that most industries and enterprises have an indeterminate life, apparently perpetual, and therefore, are not called on to replace the original investment. In mining, however, when the ore bodies are mined out, there is nothing left, The original capital investment must, therefore, be returned to the investor by the time that the profitable life of the mine is ended. When the operating company makes no provisions for perpetuating its life by investing a portion of its earnings in other properties, the usual procedure is to pay the investor, periodically, a dividend sufficiently larger than the risk return on his investment to enable him, if he reinvests this overplus at a safe rate of compound interest, to replace his original capital by the time the mine is exhausted. This overplus constitutes a return of invested capital. In estimating the value of a mining enterprise, the work leading to the final result may be divided into two parts. The first is the examination of the property to determine ore reserves, mining costs and profits, financial requirements and future prospects. Whatever conclusions are reached in this phase of the work depend on the experience, thoroughness and integrity of the examining engineers. The second is the calculations pursuant to the field examination.

Jan 5, 1973

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital write-offs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral property possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulfur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. Present Value of a Mineral Property In essence the present value of a mineral property is a sum of money in today's dollars that future income from the property are worth. It differs from the total anticipated earnings by the amount of the interest that the unrecouped investment could be expected to earn during the period of recoupment. Thus, if one could accurately estimate what a mineral property will earn during its life, after deducting all operating, administrative, capital, interest, and tax charges, the determination of present value would be a relatively simple mathematical calculation. Normally, where the expected life of the mineral property extends beyond 20 or 25 years, the discounted value of earnings beyond this period is relatively small. The petroleum industry generally discounts the annual cash flow of an operation rather than earnings since, for tax-saving purposes, earnings are kept

Jan 1, 1976

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital writeoffs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral properly possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulphur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. PRESENT VALUE OF A MINERAL PROPERTY In essence the present value of a mineral property is a sum of money in today's dollars that future earnings from the property are worth. It differs

Jan 1, 1964

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definitive life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital writeoffs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral properly possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulphur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. PRESENTVALUEOFAMINERALPROPERTY In essence the present value of a mineral property is a sum of money in today's dollars that future earnings from the property are worth. It differs

Jan 1, 1959

By H. Case Willcox

AERIAL photographic surveying and mapping is not new or unknown to geologists. However, it has been utilized but little before, principally because it is only within the last few months that practical means of adapting this method to the requirements of petroleum companies have been discovered. No American aerial survey company has taken up aerial surveying and mapping as an engineering service to be offered to petroleum companies and their geologists for use in undeveloped and jungle-covered petroleum areas. This method of surveying and mapping, however, is used by the War Department, the U. S. Reclamation Service, and Geological Survey, and the corresponding Departments of the Canadian Government. ADVANTAGES OF AERIAL PHOTOGRAPHIC SURVEYING AND MAPPING The advantages of aerial photographic surveying and mapping to petroleum companies and their geologists are many. One of the most valuable is presented in the very first phase, or the exploration period. It is assumed that, when convinced that petroleum possibilities are present, a petroleum company has secured a concession of 8000 sq. mi. of unexplored area in Eastern Venezuela. The company may either have the entire area surveyed and mapped by the aerial photographic method, or send its chief field geologist up in an airplane so that he, from-an aerial reconnaissance, may reject certain portions that, for geological reasons, the company would not be interested in. He will then point out the regions that are to be surveyed and mapped. After the air-work is completed, the results are brought down, developed, and printed; then the resulting "contact prints" are given to the field geologist. They may be roughly assembled to give a general idea of the property in its entirety, or they are in shape to be examined in adjoining pairs under the stereo-scope. With this instrument, the geologist is enabled to make a minute examination of surface indications. The work of assembling and constructing a complete general or detailed map, according to the scales desired by the petroleum company and for the later office use, is continued by the aerial photographic company.

Jan 3, 1925

By Charles Baskerville

SHALES containing,"kerogen,," or bituminous matter, which on destructive distillation yield oily and tarry matters resembling petroleum are here designated as oil-shales. They differ from oil-bearing shales from which petroleum may be obtained by so-called mechanical means. The educts obtained by the destructive distillation resemble some or all the varieties of petroleum, depending on the character of the shale and the mode of treatment. Some shale oils have e a paraffin base, some an asphaltic base, or a combination; some run high in sulfur compounds, The methods of refining and cracking, therefore, are essentially the Sam as are used in refining petroleums. In 1860, in this country, over fifty companies were successfully distilling various bituminous natural materials for the production of "coal oil," used for illuminating purposes. The discovery of petroleum and the failure of these companies to save and utilize the valuable byproduct, ammonia, brought about their inevitable doom. Prior to that time, more or less successful efforts were made to produce from the shales of Scotland oils for illuminating and heating purposes. Competition of native petroleum from the United States early eliminated some of these companies and with the entrance of oil from the Russian and other fields into the world's markets, the Scottish oil-shale industry underwent serious and trying experiences until, in 1916, only four (Scottish) were paying concerns.. These survived only through energy and the application of skill in saving valuable byproducts. A few companies have successfully operated in France and New Zealand. The Canadian Government showed active interest in the New Brunswick shales, which exist in quantity and are more valuable than the Scottish shales. The retarded development of that very valuable asset of the Province of New Brunswick involves a pathetic history, which is lamentable. This was especially true when the product was so much needed in the prosecution of the war. The economic success of a shale-oil industry depends on the following factors:

Jan 6, 1919

ARTHUR L. PEARSE, London, Eng. (written discussion*).-In the last paragraph Professor Baskerville correctly sums up an important position. The paper was probably written some months ago, as is indicated; if it were written today he would have further emphasized these conclusions. The oil-shale is a great industry, has been for many

Jan 12, 1919

By H. E. Mills

THE local auditorium of a little Alabama mining town was crowded with expectant men, women and children, as the bulletin board had announced the addition of visiting entertainers to supplement the local talent and motion pictures which usually made up the program of the regular monthly safety meeting. In the audience, near the stage, sat a group of bright-faced boys in boy scout uniforms, discussing the picture just completed. As the lights flashed on a crash and scream was heard from the outside, a shrill whistle and word of command from the scoutmaster, and five of the scouts ran out of the hall, while the mine super-intendent stepped on the stage and requested everyone to keep their seats. The scouts returned, three of them carrying a limp figure in their arms, while the other two cleared the doorway and aisle of excited spectators. They marched to the stage and, placing the apparently badly-injured boy on the floor, proceeded to give an expert demonstration of first aid to the injured. The scoutmaster then explained to the audience that the whole affair had been arranged for their benefit, and invited the local first-aid men to come up on the stage to examine and criticize the boys' work. This gave an opening for several talks on the value of first-aid training and accident prevention, which is the main object of the monthly meetings. This demonstration was given by the first-aid team of Troop One, and the entertainment was provided by members of Troop One and Twenty-eight of the Bir-mingham Scout Council, organized by the writer for the purpose of promoting interest in the welfare and safety meetings in the mining villages of the State. During the past year they have visited a number of such meet-ings and presented programs similar to the one men-tioned above. However, in order to assure a good attendance, entertainment features must also be pro-vided, and the serious part of the evening program was interspersed with excellent vocal and instrumental mu-sic, dancing and novelty acrobatic acts furnished by the visiting scouts. In addition to the numerous first-aid teams of the Birmingham Council, there are hundreds of scouts scat-tered throughout the mining district whose knowledge of first aid, safety first, life-saving, personal health and public health are a constant source of protection to their community. All of these subjects are covered by merit badge pamphlets and are required of an eagle scout.

Jan 2, 1927

By C. E. Dobbin

THE identification of rock formations by a study of certain physical characteristics of burned samples was introduced in Wyoming in 1,926, when W. G. Buckles, superintendent. of the brick department of the Parco Development Co., reported to officials of the Producers & Refiners Corpn. that shales from the Cretaceous and older formations exposed between Parco and Rawlins exhibited distinctive coloration and textural features when burned in a standard brick kiln at temperatures ranging between 1000° and 3000° F. In collaboration with Elfred Beck, chief geologist of the Producers & Refiners Corpn., Buckles later burned cuttings and cores from several Wyoming wildcat wells in a standard kiln and successfully identified certain subsurface formations which had not been satisfactorily identified by other means. The results of their investigations were outlined in papers presented by Beck before the American Association of Petroleum Geologists at San Francisco in March, 1928, and by Buckles at. a joint meeting of the Rocky Mountain Oil and Gas Association and the Production Division of the American Petroleum Institute at Casper in November, 1928. These papers have not been published. The investigations set forth in this paper were carried out for. the purpose of determining the value of certain ceramic tests in assisting the petroleum engineers of the U. S. Geological Survey to identify well cuttings that represent Cretaceous shales penetrated beneath unconformable Tertiary formations in central, and eastern Wyoming, but that yield neither lithologic nor paleontologic criteria for satisfactory correlations with distinctive weathered outcrops. The investigations were made in the chemical laboratories of the Geological Survey at- Midwest, Wyo., and consisted of studying certain physical characteristics of burned bricks from representative outcrop samples of unweathered Cretaceous shales and of similarly burned cuttings of the same shales collected from wells in the Salt Creek oil field.

Jan 1, 1931

By Henry Kreisinger

IN evaluating coals as steaming fuel on the basis of chemical and physical properties of the coals, the only properties that can be used are those for which the methods of determination are well established and standardized, and those that affect all methods of burning the coals in the same way. The discussion is written from the standpoint of the coal consumer. The production of steam is the largest field for the use of coal. It includes stations for generating electric power, central heating plants, industrial power plants where steam is used for power generation, factory processes and heating. The field also includes steam locomotives. Small house-heating boilers are not included in this field because such small boilers generally burn specially prepared domestic fuel. The plants using the steam coal are equipped to burn the coal when fired by one of the three general methods: namely, hand, stoker, and pulverized coal. The hand firing is now restricted to small plants and to locomotives. Central stations and larger industrial plants use either stoker or pulverized-coal firing. Some locomotives also use stokers. Pulverized-coal firing has been tried in locomotives but so far its adapta-tion to this use has been handicapped by practical difficulties. The coals used for steaming purposes are generally of the bituminous and semibituminous classes, with volatile matter ranging from 15 to 35 per cent. Coals belonging to these classes are produced in many parts of the United States and form by far the largest part of the total coal production of the country. The value of any coal as fuel for steaming purposes depends on the following factors

Jan 1, 1935

It is doubtful if the far-reaching sociological influence and effects of the last few years will be fully appreciated within the present generation, but there are certain lessons and morals already apparent from which we should profit immediately. One of these has been an insistent, though vague, feeling among engineers and men of technical training and experience, that their worth as political and economic factors is not recognized by society. This feeling has found expression first in a tendency on the part of these men to organize for the purpose of securing recognition, or to demand greater activity in their interest on the part of societies already organized. However it may be accomplished, the demand for some means of binding engineers together for purposes of self-interest and public good is in the air and will not be denied. In other words, the time is' propitious for two things: vastly increasing the membership of engineering societies, and serving that membership according to its desires. There are particular reasons why every mining and metallurgical engineer, in the United States at least, should hold membership in the

Jan 6, 1919

By W. R. Ingalls

WHAT proportion of the national wealth is represented by' the producing mines of the country?' Or by the- mining and metallurgical industry-as a whole, for it is impossible to make-an economic distinction between the mines that produce the ore and the plant that is used to get the metals from it. The total national wealth in fixed property is about $270,000,000,000. How much for the mines? I do not know that any one 'else has ever tried to furnish answers to these questions. In making such an attempt I am conscious that the result can be nothing more than a rough approximation. Yet even that will give an idea of relative values. No separate valuation for the mines of the country has appeared in any inventory of the national wealth previous to that which I compiled and published for 1916. -In earlier census estimates mines were supposed to be included under the head of real estate. However, an examination of the laws and practices of the several states with respect to mine taxation will make it evident that no good idea of the value of the mines of the coun¬try is obtainable from the assessment rolls. In my previous estimate for 1916, I computed the value of the mines at $8,000,000,000, which was approxi¬mately 10 times their net income as reported to the Bureau of Internal Revenue. In making that estimate I fell grossly into error, for several reasons that it is unnecessary to explain, but chiefly because the net income of the mines of the country in that year was exceptionally large. The whole subject of valuing the mines of the country en bloc is extraordinarily difficult At the best, no one can hope to arrive at, anything more than a rough idea about it. However, elements of reason may be introduced and may be made to serve as chief bases.

Jan 1, 1921

By Alan U. Seybolt

UNLIKE its sister elements, columbium (niobium) and tantalum, vanadium has not been available until recently in fabricated form. While Vanadium Corporation of America has offered the metal in fairly pure form for sale for many years in small lots for research purposes, this grade of vanadium has been brittle, probably because of a high oxygen content. Hence, when in 1950 the announcement1 was made that wrought vanadium was available as a commercial material, this represented a large step forward in the metallurgy of vanadium. While vanadium is generally regarded as a rare metal, data on its occurrence in the earth's crust show it to be as abundant as copper, zinc, and lead combined. Vanadium is widely distributed, but it does not seem to occur in massive deposits except in a few localities, principally in Colorado, Utah, and Arizona, where it is found in sandstone formations, and in Mina Ragra, Peru. Only in Colorado or Peru are ores mined solely for the vanadium content. Ores in the United States are principally carnotite and roscoelite; the former is of particular interest because of its uranium content. It is a uranium-potassium vanadate containing approximately 52 pct of UO2 and 18 pct of V2O5. Production in the United States during the war years averaged around 2000 tons a year, but dropped to 636 tons in 1946. In recent years, ferrovanadium has been selling for about $2.80 per pound of contained vanadium. This suggests that the price of the pure metal will never be as low as $2.80 per pound, but it could

Jan 1, 1953

By Porter W. Shimer

(New York Meeting, February, 1912.) IT does not seem to be generally known that some American pig-irons contain notable amounts of vanadium, and while the present investigation is far from covering the whole range of irons, it is hoped that, at least, it may serve to call attention to the importance of looking for this element. The majority of the pig-irons investigated were made in the Lehigh Valley and neighboring furnaces, using more or less New Jersey magnetite in their mixtures. Many of these ores, and probably all of them, contain a little vanadium as well as titanium; the ore from one of the largest of these mines contains 0.05 per cent. of vanadium and 0.60 per cent. of titanium. Dr. Thomas M. Drown was the first to detect the presence. of vanadium in the incrustations 1 occurring on certain pig-irons, and he also found this element in a number of magnetites, but the methods for its accurate determination had not, at that time, been well worked out. In a general way, it may be said that the Lehigh Valley pig-irons contain from 0.02 to 0.05 per cent. of vanadium and from 0.10 to 0.20 per cent. of titanium. These elements follow the silicon; that is, the furnace-conditions which produce a high-silicon, low-sulphur iron will cause the maximum reduction of vanadium and titanium, and the lower grades of iron, with low silicon and high sulphur, have a lower content of these elements. The following analyses of irons made from the same mixture, but under varying furnace-conditions, show this very well Vanadium. Silicon. Sulphur. Per Cent. Per Cent. Per Cent. NO. 1 X, . . . 0.042 3.46 0.022 No. 2 plain, . . 0.038 2.26 0.041 Mottled, . . . 0.0'29 0.52 0.106 1 Robertson and Firmstone, Note Concerning Certain Incrustations on Pig Iron,Trans., xii., 641 (1883-84).

Aug 1, 1912

By James F. Kemp

Discussion of the paper of D. Foster Hewett, Bulletin To. 27, March, 1909, pp. 291 to 310. JAMES F. KEMP, New York, N. Y.:-Mr. Hewett's paper is one of exceptional interest, because it not only adds an important contribution regarding one of the rarer, valuable elements, but also because it introduces compounds hitherto unknown and in associations no less novel. While we have occasionally dis¬covered and recorded asphaltite in metalliferous deposits, for example in the Joplin and Granby districts, we have not seen a metallic ore in a deposit essentially asphaltite. The source and method of introduction afford a subject well worth serious reflection. Vanadium was first discovered and recognized as a distinct element in the slags obtained in smelting the titaniferous magnetites at Taberg, Sweden. For a long time, therefore, we looked upon the titaniferous magnetites as its hone. Analyses proved, years ago, that it was present in the ores of this type in New Jersey and in the Adirondacks. It was quite rarely determined, but when looked for it was, I think, invariably found, although the Amount seldom exceeded 0.5 per cent. of V,05., In just what combination it exists in the titaniferous ores is uncertain. One might imagine V2O3 replacing some of the Fe2O3 of magnetite; or, since in the lead series vanadates and phosphates are closely akin, one might wonder if a lime-vanadate could take the place of apatite. Yet no lime-vanadate has been found in nature, and apatite itself is usually rare in the titaniferous ores. When percentage-curves are plotted for a series of analyses of the ores, the line of vanadic oxide shows a curious sympathetic behavior with the line of chromic oxide;' but the data are somewhat limited, and no compound has sug¬gested itself which throws light on the matter. Dr. W. F. Hillebrand has discussed the occurrence and dis-

Oct 1, 1909

By FOSTER HEWElT

THE scope of this paper is the description of two districts in Peru in which deposits of vanadium have been found, and the consideration of much laboratory-work that I and others have done to determine the nature of these deposits. It is with regret that I present some of the data in a state of evident incompletion, particularly the analyses of a few of the minerals, which leaves some doubt as to whether the true nature of the minerals is understood. I make no apology, however, since in this case, as in many others referring to ore-deposits, conclusive opinions cannot be stated until a great amount of work has been done, and the deposit has been thoroughly exploited. I believe that the data and the tentative conclusions here presented indicate a unique and interesting condition which may assist others in work along similar lines; and further, what is of more practical importance, stimulate a search for a metal which, though long considered rare, is probably so merely because proper care has not been taken to recognize it. An excellent bibliography on the occurrence of vanadium in nature is given by F. W. Clarke in his paper, Data of Geo-chemistry;1 and in the preparation of this paper I have consulted many of the references contained in the Bibliography of the Chemistry of Vanadium, by M. Moissan.2 A brief review of the subject having special reference to the metallurgy of vanadium is contained in the small book by P.. Nicolardot.3 One of these vanadium-deposits has already been briefly

Mar 1, 1909

By Newell Alford

AT its meeting in the fall of 1937, the Executive Committee of the Coal Division considered the growing scarcity of young engineers entering coal mining with serious intentions. This scarcity was the cause of con-siderable alarm and a committee consisting of C. T. Hayden, E. A. Holbrook, C. E. Lawall and L. E. Young, with the writer as chairman, was appointed to gather factual data on the current trend. A questionnaire1 was designed and mailed to the heads of the 60 mineral technology schools listed by Prof. W. B. Plank in his article in September 1937.2 Replies were received from 46 institutions, not all from heads of coal-mining courses but all from men that at one time or another have had experience with some kind of coal-mining curricula and know current student impressions. Our committee is indebted to all of these gentlemen for their cooperation. Our committee hoped by this means to quickly reach the root of the trouble and make a set of comprehensive recommendations to the Coal Division for relieving the industry immediately from the growing dearth of youth who yearn for coal-mining careers, but the condition is more serious than at first diagnosed. We must now refer the question back to the Coal Division, with the recommendation that the Division get the industry's permission for still another major operation on its frame of mind. In addition to 10-year statistics on the first pay received by graduates in coal mining and other technical work, we requested enrollment data for 20 years from all schools with either mining engineering or mineral technology curricula. Nine leading questions were also plied, as shown in the Appendix. Every one of the answers was significant and inter-esting. Fortunately, we encountered positive frankness that was extremely helpful.

Jan 1, 1938

By Frank S. McKenna, Myron A. Pugacz, Clarence E. Jackson

THE notched-bar impact test has proved worth while in certain applications as a test for control of the quality or the heat- . treatment of steel. In view of the serious thought that even so simple a test as the tensile test, has evoked during the past years, it is not surprising that the notched- bar impact test should have inspired much experimental work. The correlation of the great number of data has not been successful, although steady progress has been made toward a better understanding of this test. Progress has been made, especially, in the isolation of the effects of the many variables that control the results. The stress system imposed on a specimen with a notch is so complicated and un- predictable that no simple evaluation of the test has been possible. Because of this uncertainty, many engineers hesitate to use the notched-bar impact test, and this attitude may well continue until a better understanding of the effects of the variables in the test are available. Without doubt, any additional data that may be presented should be accompanied by as complete a description of the details of test as possible, so that it may be added to the general fund of information that is to serve as the basis for the theory of the notched-bar impact test. The many factors that may control the test results have been pointed out repeatedly. The importance of the effect of the type and dimensions of the specimen has been recognized. Most of the work reported by American investigators has been limited to small- size (Charpy) specimens tested as a simple beam; two types of notches (Fig. I) have been commonly used. Considerable data have also been presented by many investigators using a small specimen tested as a cantilever beam; this commonly being called the Izod test. Here, however, a shear component of stress makes the stress system even mare complex than that present in the simple beam type of test, hence a critical analysis is difficult. Much work has also been reported by investigators using the tension type of specimen. A second variable that must be con- trolled is the testing temperature. An indication that the tests were performed at room temperature is not sufficient, since in many steels a variation of a few degrees in the actual testing temperature may be sufficient to give an entirely different range of results. Other factors. such as the com- position and condition of the material being tested and the speed of test, should also be considered. Many investigators have contributed data and theoretical discussions on the problems encountered in notched-bar test-

Jan 1, 1944

By J. B. Morrow

WITH numerous plans under consideration for coal classification, and with the advent of the Bituminous Coal Code, the intelligent sam-pling of coal has become increasingly important. To us it is rather significant that there have been very few fundamental studies of coal sampling in American technical literature since those of E. G. Bailey, which appeared in the Journal of Industrial and Engineering Chemistry in March, 1909. He covered the subject up to that time so thoroughly and in such an excellent manner that perhaps many other later students have felt that they could add very little to his findings. The recent studies of the British Engineering Standards Association have indicated the possibility of a somewhat different interpretation of Bailey's results, permitting the taking of smaller samples, and perhaps it will now be helpful to reopen this question. C. W. H. Holmes, in an informative series of articles on coal sampling recently published in Colliery Engineering, makes two rather interesting statements, as follows: It is scarcely surprising to find a lack of interest and knowledge regarding the sampling of coal not only in the mining industry itself but also among consumers of industrial fuel: at its best coal sampling is a dirty business, regarded as a nuisance and an expense by the commercial man, and usually as a nuisance and nothing else by the chemist. The writer can conceive only two classes of people who have never experienced any difficulty in obtaining representative samples of coal from wagons; those who have never tried to, and those who have never had the necessity or desire to check the accuracy of their work. The primary purpose of this paper is to present some tabulated data of the more significant results of a sampling investigation undertaken during the last four years to obtain certain fundamental data on the variables connected with coal sampling and to point out that often assumptions have been made that are not in accordance with the facts. One of the standard sampling methods states:

Jan 1, 1935