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By Robert H. Leach, C. H. Chatfield

This paper gives a brief summary of the process of manufacture of sterling silver, and some of its more important physical properties, as observed in conlmercial production of rolled sheet and wire. Although papers have been published by Turner and Smith,1 Rose,2 Sperry3 and Jordaq4 there are few technical data available, and unfortunately the time allowed for the preparation of this paper has not been sufficient to make it as comprehensive as the title might indicate. Analysis of Steeling Silver Fine or pure silver is too soft for coinage and the manufacture of articles in which strength and resistance to wear are desired. From the earliest times of which we have record, copper has been the metal generally used to harden silver. Analyses of coins and silver articles from ancient tombs show varying amounts of copper, and old Roman silver objects in the British Museum have approximately the same ana,lysis as our sterling. The first authentic record of the establishment of a standard alloy is during the reign of Henry I1 in England. During the twelfth and thirteenth centuries, the people in the Eastern Provinces of Germany had a reputation for the standard and purity of their silver coinage, and it is said that Henry II employed some of these Easterlings, as they were called, to improve and standardize the English coinage, which had become debased. The peculiar standard adopted is probably accounted for by the system of weights used. A troy pound contains

By H. Foster Bain

THERE has never been a great civilized nation which did not have a mining industry; civilization cannot flourish without metal mining. Without tools we can have none of the 'industries that are the foundation of civilization and without metal mining we cannot produce the material of which tools are made. Therefore, if we have no metal mining we have no metals, no tools, no civilization. An example to illustrate this may be drawn from a recent article in the Saturday Evening Post which described the run-down condition of modern Athens. Athens is nothing but a busted mining camp! In its palmy days the Greeks so applied the leasing system to the silver mines of Laurium that the royalties, paid the expenses of government and instead of a tax bill the inhabitants received a pay check. The Persians came over to capture these mines but the Greek navy was built to defend them. When the silver mines played out, Greek civilization declined.. Our mining must continue if our civilization is to continue.

Jan 1, 1921

Abbey, Robert Graham, District Mgr., The W. W. Sly Mfg. Co., 50 Church St., New York, N. Y. '21 Abbott, A. N Ave. Morelos 84, Cuernavaca, Morelos, Mexico '23 Abbott, Argyle Campbell, Geol 42 Everett St., Arlington, Mass. '29 Abbott, Clarence E., V.P., Charge of Raw Materials, Tenn. Coal, Iron & R. R. Co., 1242 Brown-Marx Bldg., Birmingham, Ala. '04 Abbott, Louis Benjamin, Chief Engr., Consolidation Coal Co., Watson Bldg., Fairmont, W. Va. '15 Abeel, George H., Jr., Cons. Min. Engr 1281/2 S. Canon Dr., Beverly Hills, Cal. '18 Abel, Raymond L., Asst. Prof., Dept. of Pet. Refin., Univ. of Pittsburgh. .Pittsburgh, Pa. '28 Abel, Walter D., Cons. Engr 650 S. Grand Ave., Los Angeles, Cal. '82 Abele, Louis T., Min. & Met. Engr., Supt., Texas Hill Mine Coulterville, Cal. '31 Abell, Leo M. Millicent, S. Australia '31 Abernathy, George Elmer, Prof. of Geol. & Min., Kansas State Teachers College, Pittsburg, Kan. '20 Aborn, Robert H., Research Lab., U. S. Steel Corp. Lincoln Highway, Kearny, N. J. '19 Abozeid, Mahmood, Dept. of Mines & Quarries Cairo, Egypt '26

Jan 1, 1932

THE IRON HUNTER. By Chase S. Osborn, pp. 316, Ills. 10. The MacMillan Company, New York. 1919. An autobiography, the story of a Hoosier boy who fought his way to manhood and power through early misfortune and poverty, from street urchin and newsboy, to editor and author; from lumberjack and dock walloper to statesman and Governor of Michigan. The reader has the measure of the man in the first chapter, a dramatic recital of how the fighting boy editor cleaned up a lawless mining camp of 40 years ago. The thread of the narrative is the author's life-long devotion to outdoor living, ex-ploration and travel. Residing in Sault de Sainte Marie, Mich., in the heart of the Lake Superior country, he took his delight and, incidentally, found his fortune in prospecting the north woods for iron ore; eventually, extending his travels to the continents and many of the islands of the world, he discovered what, he believes-to be a great iron range in Madagascar. In this book there is plenty of anecdote, a great deal of wholesome social and po¬litical philosophy and some interesting sidelights on the characters of some of the author's prominent contemporaries in the political life of Michigan. The style is direct and animated, flavored and illuminated with the vernacular of Hoosierdom and the woods country of the North. The author levies on the vocabulary of the sciences and the classics for many a noun and adjective and, with Rooseveltian license, now and then coins a word. The reader's interest will be gripped from cover to cover, albeit he may occasionally need a dictionary. R. C. A.

Jan 11, 1919

By Open-Hearth Steel

I received a telegram yesterday from Mr. J. H. Nead saying that he regretted circumstances had come up which prevent his attending the meeting, but that arrangements have been made and Mr. T. S. Washburn, of Inland Steel, will act as the Co-Chairman in his stead. We are sorry, of course, that he cannot be here at this conference. We have, therefore, asked Mr. James J. Bowden, chief metallurgist of Republic Steel Corporation, Cleveland, to act as Chairman and Mr. Tom Washburn to act as Co-Chairman. I will turn the meeting over to these gentlemen at this time.

Jan 1, 1940

By Frederic P. Dewey

This old and well-known method of determining silver is, in bullion work, so far superior to the furnace-assay that it is looked upon with reverential awe by many, if not by most, users, and its ease of execution, with proper equipment, commends it highly where much commercial bullion work on silver is required. The method is so thoroughly well known that a description of it here may seem to be unnecessary, but many thousands of determinations are annually made by it in the U. S. Mint Service and its practice is there reduced to an art. This is necessary both for the sake of economy of time, and because high-grade work with it requires constant practice. It is useless for a person who uses it only occasionally to expect to attain high accuracy with it, without spending more time upon a detemination than is warranted in a busy commercial laboratory. It is always employed in the Mint service whenever possible, but its chief field is in the determination of silver in standard silver (ingots and coin), which is 900 fine in silver and 100 fine in copper, and I shall first briefly outline its use on this metal and then take up various points in detail, especially as related to the accuracy of the results obtained. For this determination 1,115 mg. of standard metal are weighed and transferred to a glass-stoppered bottle, the metal is dissolved in nitric acid, and 100 cc. of a standard solution of NaCl run in. The bottle is then vigorously shaken and a measured portion of a decimal salt solution added, and again shaken, if necessary. These operations are repeated until the silver is precipitated. Standard metal being 900 fine, 1,115 mg. should carry 1,003.5 mg. of silver, which is a convenient figure to work with.

Jan 1, 1914

By James P. Sloss

MOST students that plan to enter the mining profession attempt to obtain some kind of practical experience before graduation. Six or seven years ago it was an easy matter for undergraduates to find employment during the summer vacation and return to school in the fall filled with enthusiasm to dig deeper into the theoretical field. However, during the past few years it has become extremely difficult for an inexperienced undergraduate to obtain even a menial job in mining. This was the situation which presented itself to the author and his partner, T. M. Patten several months before school closed in May, 1934. At that time, Mr. Patten's training consisted of two years study in Mining, and mine included three years' study in Mining Geology at the Missouri School of Mines and Metallurgy. With this technical training and no practical experience, we conceived the idea that custom assaying in some of the western mining districts should be a lucrative business. We thought that the renewed interest in prospecting for gold and the opening of new mines should provide more assay work, and believed that we might secure it if we were on the spot where the assaying was needed. We realized that it would be out of the question for us to obtain the necessary equipment with which to establish an assay office. Even if such an office were established we had a maximum of but three months during which to operate. So we determined to build some kind of inexpensive equipment that could be placed in an automobile, or trailer, and be moved from one camp to another. We then began to study the theoretical aspects of assaying and started experimental work with the equipment that we proposed to build.

Jan 1, 1935

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

By A. A. Steel

(Spokane Meeting, September, 1909.) DURING. the summer of 1905 I was employed by the U. S. Geological Survey to investigate the geology, Mining, and preparation of barite in most. of the fields of the United States. The Eastern districts have been more or less completely described ; the Virginia field in detail by Thomas L. Watson, in his paper, Geology of the Virginia Barite-Deposits,' and other fields in abstract., including statistics of production and references to current literature, by various authors .2 There have also been published a few details of the occurrence of barite in the lead-mines of Washington county, Mo.3 The other accounts of this district are erroneous and meager, and since this field is the most important one in the United States at the present time, a detailed description of the local geology seems doubly desirable. Barite-deposits are scattered over nearly the whole of Washington and adjoining counties, but. the product, is all mined from the areas indicated upon the sketch-map, Fig. 1, and is shipped from the stations of the St. Louis, Iron Mountain &. Southern railway, between Blackwell and Potosi, from 45 to 60 miles SW. of St.. Louis. The topography is for the most part gently rolling, with slightly graded streams, usually less than 200 ft. below the higher hill-tops. Along Mineral fork and Indian creek are :some steep bluffs and cliffs, affording good exposures of the

Feb 1, 1910

By AIME AIME

AT the annual .meeting of the Minnesota Section in December, Dr. Leith characterized as a question still open the exact method of origin of Lake Superior iron ores and emphasized it as an important practical problem for the future. He welcomed the step taken last year by Dr. Gruner in presenting a new hypothesis, and asked Lake Superior geologists to meet the challenge of such multiple hypotheses by unbiased, study.

Jan 1, 1932

By John A. Mathews

It is a great honor to be asked by the Board of Directors of this Institute to deliver the Henry Marion Howe lecture. The invitation carries with it a great responsibility, which I accept with considerable hesitation and with a feeling of unworthiness to perform the duties expected of me in this hour devoted to the memory of the life, character, and work of the late Professor Howe. Many of you recall the scholarly address delivered here a year ago by Prof. Albert Sauveur, and the beautiful tribute he paid to his friend and colleague of many years in the great work of changing the art of iron making into the science of iron. My association with Professor Howe was of brief duration—only one year—and the relation was that of pupil to teacher. My feeling toward him in later years was always that of a humble disciple at the feet of a master. He attained his third academic degree in the year that I was born. I recall the pride I felt when, after entering the steel industry, I received from him, from time to time, letters asking for information or, perchance, asking my opinion, and he was always most punctilious in acknowledging the source of such bits of information in his writings. It was also my good fortune to sit at the feet of another great teacher— Sir William Roberts-Austen, at the Royal School of Mines. I mention him because his name was used by Osmond in coining the word "aus-tenite," which is the subject of this address, and Osmond's suggestion was heartily approved by Howe. These three international metallurgists were the best of friends and delighted to honor the achievements of one another. There are other reasons for mentioning Roberts-Austen at this time. It was an introduction from Howe that opened to me the door of his laboratory as well as of his heart. It was while at Roberts-Austen's laboratory that I worked side by side with William Campbell

Jan 1, 1925

For the first time in its history the Institute will hold a meeting in the State of Arizona. A few years ago Arizona stood third in the copper-producing districts of the United States. Since that time, with the development of porphyry mines, the output has gone up with great rapidity until it not only is the leading district, but its output at the present time is at the rate of nearly double the Montana output, which now stands second in the list. In connection with this .development, most interesting departures have been made in methods -of mining, concentration and smelting. Principles of mining and metallurgy of the greatest interest will be covered by papers which will' appear in the Bulletin and be presented at Technical Sessions, while ample opportunity will be afforded for those who go to the meeting to see all the points of interest .to them. In addition, members will be well rewarded by the marvelous natural features to be seen on the trip, including 'the petrified forests, the cliff dwellings on the Apache Trail and the Grand Canyon of Arizona. It is planned to start the special train from New York, but members and guests may join the special at other points en route as indicated by the following schedule: ITINERARY . , Thursday, September 14th Lv New York, Grand Central Terminal.. ............... 5.30 p. m. Dinner in dining car a la carte New England Members via B. & A. R. R. . Lv Boston. ............. (Regular train). ............. 2.00 p. m. Lv Worcester. ........... (Regular train). ............. 3.12 p. m. , Lv Springfield. ........... (Regular train). ............. 4.37 p. m. Dinner in Dining Car a la carte Ar Albany.. ......... .New York Central R. R.. ....... 7.45 p. m. Lv Albany .......................................... 9.00p.m. Lv Schenectady.. .................................... 9.32 p. m. Lv Utica ............................................ 11.08~.

Jan 8, 1916

By Lucien F. Trueb

The microstructure of explosion-bonded pairs of similar and dissimilar metals has been investigated by electron microscopy. A review of the specific problems encountered and the methods used for obtaining surface replicas and thin-film transmission specimens of the bond interface is given. The bond area is mainly characterized by continuous and practically diffusionless metallurgical bonding. The very large shear stresses induced along the collision front of the plates being joined causes extreme grain elongation and a symmetrical pattern of subgrains in the bonding direction. The bond zone is also characterized by a very high density of dislocations and pressure-induced twins. Localized heating occurring during the cladding process can result in partial re-crystallization or the formation of thin layers of molten material. The force of precisely controlled explosions causing a high-velocity impact between metal plates has been used for several years to achieve metallurgical bonding between an extremely wide variety of metals. This method essentially consists of accelerating a plate to high velocity toward a stationary plate by a detonating explosive. Since the restrictions to bonding are not those encountered with conventional nethods, it becomes possible to bond pairs of metals having widely different mechanical properties that are immiscible or form brittle intermetallic compounds. Many applications of such composite metals are found in the field of corrosion protection as well as numerous other fields; for example, explosion bonding is being applied for fabricating the materials used by the United States Mint in the new sandwich-type coins. The primary condition for establishing a metallurgical bond is that absolutely clean metal surfaces be brought together. Any metal exposed to the atmosphere is covered with oxides, adsorbed gases, and other contaminants; even a very forceful impact of two such surfaces is not sufficient for bonding. Cowan and Holtz-man,"' who reviewed the dynamics of colliding plates in detail, showed that in order to achieve a good bond the explosion conditions must be chosen in such a way that the plate collision velocity is less than the sonic velocity, in which case no oblique shock waves are attached to the collision front. A pressure wave is then generated ahead of the collision line, and the material forming the colliding surface of each of the plates flows forward and is ejected in the form of a spray, the so-called jet. The dynamic elastic limit of the metals must be exceeded so that there is sufficient plastic deformation. At the point where the jet formed by the junction of the inner surface layers of both plates separates from the combined plates, the material experi- ences a very high shearing strain and the pressure can reach several hundred kilobars. This process strongly influences the microstructure of the bond zone as will be seen later. Behind the collision front, uncontami-nated layers of internal material are brought together under high pressure and are thus metallurgically bonded. I) STRUCTURE OF EXPLOSION BONDS The different types of explosion bonds that can be obtained depend on the explosion conditions, and have been investigated by Cowan and Holtzman,1'2 Holtzman,3 Klein; Bahrani and crossland,' and Buck and Horn-bogen. The preferred kind for practical applications is the so-called wavy bond, typical examples of which are given in Fig. 1 showing light micrographs of various metal-to-metal interfaces. In forming this type-- of bond the collision energy is mainly expended in jetting, the formation of waves, and localized melting. Beyond the crest of the waves, eddy-shaped areas are observed in which the two metals are mixed in a complex pattern of streaks. Cowan and Holtzmanl first proposed that this wavy pattern is analogous to periodic eddy shedding in the flow of a viscous fluid around an obstacle (Von Karman's eddy street). The mass of metal ahead of the stagnation point, which is associated with the jet and has forward momentum, plays the role of an obstacle and the eddies created in the flow of solid metal around the stagnation point are preserved in the final clad specimen. This idea has been reviewed more recently by Klein4 and the variables involved in the wave formation have been discussed in some detail by Bahrani and crosslands and Buck and Hornbogen.6 Several studies of the structure of explosion bonds by light metallography have already been published.1-6 Aside from the waviness and the eddies which were mentioned above, the most striking characteristic of the area in the vicinity of the bond interface is a very considerable longitudinal grain deformation which appears to be strongest at the metal-to-metal boundary and dies out as one moves away from it. Large twins are often observed within the deformed grains, and molten areas are found in the center of the eddy-shaped structures situated beyond the crest of the waves. The large hydrostatic pressures and shear stresses occurring at the interface modify the mechanical and chemical properties of the bond zone. Increases in hardness in this area have been reported by various authors.396 The defects along the interface can also cause a local increase of the chemical reactivity and thus might be expected to boost the etching rate. However, the effects of this preferential etching cannot be observed by light microscopy due to its inherently limited resolution power. The same limitation precludes the observation of morphological features directly along the bond interface as well as the interface itself. Furthermore, no information can be gained by light-

Jan 1, 1969

By George M. Fowler

EVERY year it becomes more difficult to find new mining districts and new ore deposits. Nearly all of the important discoveries so far can be attributed to surface manifestations overlying the ore deposit. In the future greater skill will be necessary to find ore deposits that give little or no indication of their presence. Mining geology is making progress by broadening its attack upon mineralized regions, by including in its investigations studies of the relation of physical-chemical processes to ore precipitation and various phenomena that heretofore have not always been looked upon as major factors in the problems. Such, for example, are petrographic peculiarities that will help determine structure, aspects of strata or formations favorable or unfavorable to structural deformation or mineralization, and renewed studies of chert and dolomite. This broadening attack is not necessarily being directed to the study of large areas, but rather by doing extremely detailed work in three dimensions in relatively small critical areas to find the key to the structure, reasons for the manner of rock deformation, composition and texture of the rock, and other con¬trolling factors in the larger areas.

Jan 1, 1935

By H. David Swain

On Bougainville Island in Papua New Guinea, Bougainville Copper Ltd. (BCL) has successfully applied electronic data processing (EDP) techniques to pit operations and mine planning. Though the EDP program is not complete, BCL has realized significant improvements in short and long range mine planning, and equipment and manpower utilization. About 80% of BCL's 4000 employees are Papua New Guinea nationals, and most have little education or training. The operational characteristics of the computer equipment, however, have been quickly adapted by users with low educational standards.

Jan 3, 1979

By F. A. Seward

A1though the expanding Eltran1 configuration has been used in induced polarization exploration for several years, there has been little application of this method to straight resistivity problems. A comparison of results of resistivity exploration by this technique versus those obtained from Wenner configuration surveys reveals a number of advantages in interpretative resolution as well as in field operation. The application of electrical resistivity to ground-water exploration is well known.= In the past a major portion of this work has been accomplished by use of one or more variations of a technique employing the Wenner3 electrode configuration. With the introduction of the frequency domain technique of induced polarization measurements, used primarily in the exploration for disseminated sulfide deposits, there arose the need for an electrode configuration by which potentials could be measured externally to the current electrode spread in order to minimize coupling between current sending and potential receiving circuits. It was also deemed desirable that the configuration would provide information laterally along profile as well as with depth. To reach these objectives the expanding dipole-dipole configuration (which probably first was used in the electrical transient method of exploration and from which the name 'Eltran' was derived) has been adapted to induced polarization exploration. The author has successfully applied the same techniques

Jan 1, 1963

By R. C. Earlougher

Jan 1, 1970

By Herbert Hoover

DURING the year, the' Institute has made the most remarkable growth in its history. Our actual increase in membership was 1816 and therefore was 80 per cent. larger than any previous year. Even without expectation of any abnormal growth, we should pass in the year 1921 the 10;000 mark. The causes of this increased growth are not far to seek.. They lie in the widening vision of the Institute's work, not only in its relation to' the profession but as an avenue of service to the nation as a whole. The Institute is today in the first rank of influence among public institutions in the country. During this year we have, for the first time in many years, had a ?deficit of some $3000 in our finances. The sum is not important, but it- does indicate the tendency of the times, and that is the high cost of living:' The increase in our expenses lay, to the largest degree, on the publishing side of the Institute's work. If we compare the year 1918, as a fairly repre¬sentative year, with that of 1920, we find that the costs of issuing the' Institute's publications, after deducting the income received from these publications, shows a .net increase of about $33,000. for the year. This has been to some degree due to the enlarged membership but to a large degree due to the cost of the paper and printing.

Jan 1, 1921

By Allen V. Heyl

This old district is a major zinc and lead source and minor copper and barite source. Ores are chiefly in the Galena Dolomite and in limestones and dolomites of the Decorah and Platteville Formations, all of Middle Ordovician age. Locally, deposits have been mined from Lower Ordovician dolomites and Upper Cambrian sandstones. Small deposits of lead, zinc, and iron sulfides have been found in Upper Ordovician Maquoketa Shale and in Lower and Middle Silurian Edgewood, Kankakee, and Hopkinton Formations. No post-Precambrian igneous rocks are known in the region, and the granitic and metasedimentary Precambrian basement rocks unconformably underlie the district at depths of 1500 to 2000 feet. The strata are gently flexed and faulted, probably largely the result of gentle compressive and rotational adjustments in the underlying crystalline basement, especially along lineaments between basement blocks. Folds of three orders ·of magnitude are recognized, and many related reverse, strike-slip, and normal faults of small to moderate displacements are present. Zinc-lead deposits are commonly linear, arcuate, or elliptical in plan. Most ore occurs as vein fillings in fractures and as breccia fillings and lining vugs, but some is in bedded replacements and impregnations of wall rocks. The ore is in shears, small reverse and bedding- plant faults, joints, and solution-slump structures related to intermediate and small folds. The main primary minerals in their general sequence of deposition are quartz, illite, dolomite, pyrite, marcasite, cobaltite(?), sphalerite, galena, chalcopyrite, millerite, barite, and calcite. Wall-rock alterations include solution of the carbonate rocks, silicification, dolomitization, clay alteration, and sanded dolomite. Oxygenisotope, trace-element, lead-isotope, and sphalerite- stratigraphy studies are in progress. Fluid inclusions in sulfide and gangue minerals are filled with concentrated brines at 120° to 40°C. Sulfides are directly replaced by supergene minerals above the water table at 50 to 100 feet in depth. In this relatively cool climate and limestone environment, smithsonite is in pseudomorphs after sphalerite; solution transport and redeposition of supergene minerals are rare. Ore genesis is postulated by rising hot-water solutions-a mixture of heated connate, magmatic, and meteoric waters.

Jan 1, 1968

By John A. Mathews

RESEARCH in the steel industry, as in other lines of manufacturing, has for its principal purpose the increasing of profits. That is what manufacturing companies are for, and all departments of the organization must be so coordinated as to lead to profitable operation. To divide a payroll into productive and non-productive labor is misleading. Productive labor, in fact, is necessary labor, and non- productive labor is the labor we can get along without. One might as well say that the steering wheel is not a part of an automobile as to say that the directing minds of an industry are non-productive. Legitimate manufacturing profits in a steel company or any other company are the reward that the public pays for service rendered or risk taken. The desire for profits is the impelling motive that leads investors .to take risks and build up industries that give employment to others. Every department of a company, be it executive, manufacturing, financial, sales, or research, must contribute to the one end which brings success-profits.

Jan 1, 1921