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By J. L. O’Brien, M. Suenaga, K. M. Ralls, V. F. Zackay

The effecls of aging a1 400°C on tile resistive transition at 4.2°K of a superconducling 70Zr-30Nb alloy are reporled. Microstrclural changes were studied by critical temperature, resistiue critical field, residual resistiuily, and microhardness measurements and by X-ray diffraction, optical microscoby, ad replication electron microscopy. The result of the aging treat- A defect-free Type 11 superconductor in a magnetic field above Hc1 cannot sustain a transport current runt is a fine array of w-phase pavticles with a mean center to center interparticle spacing of about 800A. At an aging time of 300 hr the maximum onset critical current density is rcached. The particle size at the maximum current density if about 4202. At times longer than 300 hr effective particle impingement leads to lower onset critical current densities. perpendicular to the applied field without power loss in the sample.'-3 This power loss is due to flux line motion caused by the Lorentz force and is manifested by a longitudinal voltage.4-6 When defects are present in the material, flux lines are pinned until the Lorentz force exceeds the "pinning force". That is, it is thought that flux lines reside in free-energy wells existing at the defects, and the critical Lorentz force is that which when integrated over distance will supply the free-energy difference necessary to move the flux

Jan 1, 1968

By John T. Galey

An intensified search for gas, because of the shortage in the area, led to the completion of 482 wells in southwestern Pennsylvania during 1944. This number was 27 more than the number in 1943, but 118 of the wells were nonproductive. Shallow Development Oil The initial production of the 25 producers completed was slightly less than was obtained from four wells above last yearJs total. The largest well, 20 bbl., was found in the Big Injun (Miss.) sand in Morris township, Washington County, at a depth of 2085 ft. It is currently producing about 3 bbl. per day. Outside the main producing area, a well drilled in Nicholson township, Fayette County, obtained 15 bbl. per day from 1864 to 1866 ft. in the Gantz (U. Dev.) sand. The Federal subsidy of 75¢ per barrel, effective , 1, 1944, which increased to $3.40 the current pipe-line price in this area, seems to have been insufficient stimulus to materially increase drilling for oil, although more repressuring operations are contemplated. Gas The volume of initial open flow of gas developed is off slightly over 10 million cu. ft. from 36 more wells than were completed a year ago, and the average rock pressure of this new gas is more than 100 lb. less than that obtained a year ago. Apparently the best find of this year was reported in Patton township, Allegheny County, where an initial volume of over 4 million cu. ft, was encountered in the Speechley (U. Dev.) sand at a depth of from 3293 to 3303 ft. The rock pressure there, 1190 lb. per sq. in., is nearly virgin. However, this area is fairly well delimited by dry holes and docs not seem nearly so promising from the standpoint of reserves as the Armbrust area, which was discovered several Years ago. In the patton township locality another fair well with 1303 M cu. ft. open flow and 400 lb. Per 59. in. rock pressure completed in the Hundred-Foot (U. Dev.) sand at a a depth of 2125 feet. Armstrong County, as usual, leads in number of producing wells completed with lowest percentage of failures but ranks only fou th in volume of production developed. Only two wells here had more than one million cubic feet capacity, but the rock pessure was under 200 Ib. Per sq. inch. In Fayette County, where the largest portion of new gas was found, activity appears to be shifting eastward. In Luzerne township, four producers having a total combined initial open flow in excess of 10 million cu, ft, were found in the Big Injun (Miss.) sand. The best well was found also in the same area in the Speechley sand (U. Dev.) at a depth of 3460 ft. This was a 2500-M CU. ft. well in Georges township. Several wells of more than a million cubic feet capacity were found in Jackson, Washington, Wayne and Whitley townships, Greene County. None of these, however, was in a new pool.

Jan 1, 1945

By J. C. Savins

The practical analysis of the hydrodynamics of the wellbore has long been a subject of interest to engineers. This paper presents a simplified solution to the problem of computing the pressure drop for the flow of drilling mud in the annulus of the wellbore. This solution is, however, an exact and rigorous solution under the assumptions which have been imposed. These assumptions are that the drilling fluid is a Bingham plastic fluid* and that the annulus is formed by two concentric, stationary, cylindrical pipes. It is further assumed that the fluid is incompressible and that its motion is isothermal and in a steady state. This problem under the same assumptions has been attacked by previous authors. Beck, Nuss and Dunn' proposed that the equation for the flow of a Bingham plastic fluid in a cylindrical pipe could be applied to an annulus if the pipe radius were replaced in the equation by the hydraulic radius. This equation, known as the Buckingham-Reiner equation' (see Appendix 1), was also used in an approximate form. Van Olphen pointed out that even for a simple or Newtonian- fluid the pipe equation (Poiseuille's law) could not be converted to the Lamb equation escriptive of flow in an annulus (see Appendix 1) by using the hydraulic radius. Van Olphen further attempted to give a solution for the annular flow of a Bingham plastic fluid by introducing approximations similar to those which have been used in the case of the Buckingham-Reiner equation. Other attempts to provide approximate or exact solutions have been made by Grodde' and by Mori and Ototakeq. The present authors some years ago in unpublished work derived the correct expressions relating the pressure drop and flow rate for this problem. It was found that the solution consisted of two simultaneous equations, one of which contained a logarithmic term. Thus, obtaining numerical results for any particular case of interest involves very tedious trial-and-error computations. Very recently Laird presented the correct derivation of the two equations which are given in full detail in Appendix 1. In order to reduce the amount of calculation time which would be involved in providing a complete tabular or graphical solution to the problem, a high-speed electronic digital computer has been utilized. For this purpose the two simultaneous equations were transformed into more compact expressions by introducing reduced variables. These expressions are given in the following theoretical section. A similar procedure in this problem has been developed by Fredrickson and Bird1" Their tabular results, however, are very incomplete in the range of practical interest for problems of wellbore hydrodynamics. We have furthermore been able to express our graphical results in terms of convenient and familiar dimensionless groups. THEORETICAL DEVELOPMENT Use of Reduced Variables In terms of reduced variables the two simultaneous equations just discussed take the following form, The reduced variables q, x, a and z are defined in terms of the various measured quantities, where Q is volumetric flow rate, AP/L is pressure gradient, Dl is OD of inner pipe, D, is ID of outer pipe, is plastic viscosity, and is yield point. Thus, we have a dimensionless volume flux, a dimensionless reciprocal pressure gradient, and the ratio of the pipe diameters Before introducing the fourth reduced variable, z, it is of interest to consider the physical significance of the parameter x. As may 'be seen from the velocity profile of Fig. 1 the Bingham plastic fluid has the interesting property that a portion of the stream flows at a uniform velocity without shearing action. This section of the stream is situated approximately in the center of the conduit and is known as the "plug flow" region. Its existence is due to the fact that the shearing stresses within the region do not exceed the yield point, which is one of the two flow properties characterizing the fluid. The parameter x then turns out to be the ratio of the

By M. C. LYNN

RECENT completion of a $40,000 lubricating oil plant will make it possible for students in the School of Petroleum Engineering at the University of Oklahoma to carry out on a large scale the entire process of refining crude oil, from the time it is received in tank cars and pumped through the 1/4-mile University pipe line to storage tanks on the campus until the various products appear in finished form. This plant is part of a $100,000 expansion program which this school has been carrying out during the past year. Two years ago the Oklahoma State Legislature appropriated $50,000 for the School to use in improving its laboratory facilities. A few months later a $30,000 PWA grant was ob-

Jan 1, 1937

By L. W. Kesler

Kansas produced 41,966,773 bbl. of oil in the year 1927, thereby taking fourth place among the oil-producing states of the Union. The daily average production decreased from 121,609 bbl. in January to 110,244 bbl. in December. Due to excessive flush production and the resulting decline in the price of crude during the year, operations, both in proved and outlying districts, were reduced materially from those of 1926. There were 2338 completions in 1926, but only a total of 1333 in 1927. Regardless of this decrease in the total number of completions, Kansas made a slight gain in total production for the year, producing 620,262 bbl. more than in 1926. This is accounted for, in part, by the comparative long life of the settled production from the Bartlesville sand areas to the east of the Nemaha granite ridge, and by prolific production in eastern Summer County from horizons new in their importance in the state, productive here at two localities along the axis of the granite ridge (Table 1 and Figs. 1, 2 and 3.) For convenience in further consideration, the state is divided into Eastern and "Western" Kansas. Special emphasis will be placed on those areas in the state of which but little is generally known, and which have not been given detailed consideration in previous publications.

Jan 1, 1928

By Thomas L. Garwood, F. C. Menk

IT is generally, accepted that no method of coal cleaning except froth flotation is effective in cleaning dust. In the majority of coals mined in the United States the dust sizes contain a high percentage of impurities, hence the removal of the dust from the coarse sizes lowers the impurity content of these sizes. Dedusted coal is desired as a means of providing a better feed to cleaning plants because of increased efficiency in both dry and wet plants. In dry-cleaning plants, a dedusted feed makes for a pervious and uniform bed. With a dusty feed the fines tend to segr6gate in the feed stream and pass en masse over the air separators, causing a lack of uniform aeration and fluidity of the bed necessary to efficient cleaning. In wet-cleaning plants dedusting of the feed often decreases the sludge problem to the point of eliminating the necessity of wasting wash water. It may be advantageous to eliminate sludge-settling equipment in favor of dedusting equipment, to provide the advantages of a dedusted feed to the wet-washing process. Dedusting advantages may include: (1) the removal of fusain, especially advantageous in plants washing coal intended for metallurgical coke; (2) prevention of the gradual build-up of solids in the wash water, with a consequent variation in the washing ability of the system; (3) prevention of the loss of dust to the sludge ponds, providing instead a fuel for local consumption or special markets. DEDUSTING The practice of dedusting, sometimes called aspirating, has presented a problem in disposing of the dust and intermediate small sizes recovered in the process. It has been found that no difficulty is experienced in disposing of the intermediate sizes, since they are free of fine dust and burn freely on grates built for small coal. They handle well, flowing freely from bins and hoppers and into conveyors, and pulverize easily. They have a low angle of repose. In tests made on this size as a feed to coke ovens, the results have been excellent, in that the natural breakdown of .coal in handling and shooting in the mine gives this small-size coal good

Jan 1, 1943

By J. C. Bartlett

As American students of mining, philosophy, philology, music, history, or art have found it necessary or highly advantageous to supplement their course of study at home by a residence of some years at a foreign university, so, ever since mining has been practiced in this country in any other than a rude and wasteful manner, many American students of mining have sought in London or Paris, but chiefly in the Academy of Freiberg, Clausthal, or Berlin, such infor-

Jan 1, 1877

By C. B. Dudley

In October, 1878, and again in February, 1881, I had the honor to make public, through the medium of the American Institute of Mining Engineers, the results of an extended study of steel rails which had been in service, and which mere taken for the purpose from the tracks of the Pennsylvania Railroad Company. These studies appeared in three papers. In the first of these papers the question. what kind of steel is least liable to fracture or disintegration in the track, was the principal one considered. In the second paper the question discussed was, does the power of steel to resist wear increase with the hardness ? In the third paper the relation between wear and the chemical and physical properties of the metal was the principal point considered. The general results arrived at, or the cooclusions reached, were, as follows: 1. That a mild steel is less liable to fracture, and if properly made, less liable to crushing or disintegration in the track than a harder steel. 2. That the wearing-power of steel in rails not only does not increase as hardness increases, but, on the contrary, diminishes; or, in other words, that a mild steel gives less loss of metal under the same service than a hard steel. These conclusions may be briefly stated in a single sentence—namely, in rails mild steel is not only less liable to fracture and disintegration in the track, but it also gives longer life, or wears more slowly under the same traffic; than harder steel. It is perhaps hardly necessary to add that by mild steel is meant steel

Jan 1, 1891

INTRODUCTION Data available on prophyry copper occurrences in the Andean, Caribbean, Appalachian, and Cordilleran orogens may be categorized in a manner to suggest a hypothetical evolution for deposits that occur in the western hemisphere. A classification of de- posits is also suggested. A classification dependent on internal structure of a porphyry copper deposit would lead to two broad categories, breccia pipe and stockwork models. A classification of this type is examined herein but it is not universally accepted in the literature. Modeling based on igneous petrography as well as metasomatism attendant with the sulfide mineralization is more widely accepted by economic geologists whose evaluation of porphyry systems is influenced by the presence or absence of a phyllic zone. Lowell and Guilbert model deposits ordinarily include a phyllic zone, whereas those of the diorite model do not. Position of the phyllic zone in the alteration sequence is a significant ore guide. Should the phyllic zone be absent, dependence on alteration zoning to identify metallization is weakened. Presence or absence of the phyllic zone therefore is a significant parameter in the economic evaluation of a porphyry copper deposit (Hollister. et al., 1975). The Lowell and Guilbert (1970) model commonly includes a phyllic zone in quartz- bearing rocks. Parameters of both calc-alkalic and the quartz monzonite models mentioned elsewhere in this volume are sufficiently close to the Lowell and Guilbert (1970) model that it should be expanded to encompass them. The diorite model remains separate and distinct because deposits of this type are characterized by an absence of quartz in the pluton, commonly highly gold: copper ratios, low molybdenum content, and regular absence of sericite in the alteration zones. Therefore, for the benefit of those

Jan 1, 1978

By Theron Wasson

The year 1942 in Michigan was devoted largely to the development of fields discovered in 1941 but was also characterized by a great increase in prospecting for new productive horizons below the Dundee limestone. Some new fields were discovered but as yet these have shown few signs of being of major importance. Michigan's total production for 1942, of 21,754,000 bbl. of oil, as reported by the U. S. Bureau of Mines, was second only to the record year of 1939 when 22,799,000 bbl. of oil were produced. All important fields were prorated throughout the year, and it is obvious that without proration a new all-time high would have been established for the state this year. From 1925 to the end of 1942, Michigan has produced annually the following amounts of oil: Year Barrels Source 1925 4,000 1926 94,000 1927 435,000 1928 592,000 1929 4,641,000 1929 Michigan Geological Survey 1930 3,928,000 3,785,000 1932 6,925,000 1933 7,942,000 1934 0,603,000 1935 15,776,000 U.S. Bur. Mines, 1937 1936 11,928,000 U.S. Bur. Mines, 1938 1937 16,628,000 U.S. Bur. Mines, 1939 1938 19,211,000 U.S. Bur. Mines, 1938 1939 22,799,000 1940 19,764,000 1941 16,361,000 1942 21,754,000 Total 183,170,000 This tabulation shows the steady growth of the industry in Michigan since the first discovery of oil in 1925. Maes A map of the oil and gas fields of Michigan in 1941, published in the report for 1942, shows the main producing areas and should be referred to if information in regard to their location is desired.* The main producing zones were shown in the columnar section in the same publication. Development in Fields Reed City Field.—During 1942 the Reed City field, which ended 1941 with 112 producing oil wells, added 70 new producers to bring the total at the end of the year to 182 wells and 4700 proven acres. A south extension of the field developed during the year was in large part responsible for the increase. Approximately 9,000,000 bbl. of oil was produced from the field during the year, bringing the total accumulated production to the end of the year to roughly 11,750,000 barrels. Headquarters Field.—The Headquarters field, which started the year with ro producing oil wells, ended the year with 41 wells aid 1240 proven acres. Approximately 2,300,000 bbl. of oil was produced in 1942. Kawkawlin Field.—Although not a 1941 discovery, the Kawkawlin field has been actively developed on the 40-acre spacing plan during the last year, 42 producers having been completed, bringing the total number of wells at the end of the year to 77. Nearly 500,000 bbl. of oil was produced during the year.

Jan 1, 1943

By Theron Wasson

The year 1942 in Michigan was devoted largely to the development of fields discovered in 1941 but was also characterized by a great increase in prospecting for new productive horizons below the Dundee limestone. Some new fields were discovered but as yet these have shown few signs of being of major importance. Michigan's total production for 1942, of 21,754,000 bbl. of oil, as reported by the U. S. Bureau of Mines, was second only to the record year of 1939 when 22,799,000 bbl. of oil were produced. All important fields were prorated throughout the year, and it is obvious that without proration a new all-time high would have been established for the state this year. From 1925 to the end of 1942, Michigan has produced annually the following amounts of oil: Year Barrels Source 1925 4,000 1926 94,000 1927 435,000 1928 592,000 1929 4,641,000 1929 Michigan Geological Survey 1930 3,928,000 3,785,000 1932 6,925,000 1933 7,942,000 1934 0,603,000 1935 15,776,000 U.S. Bur. Mines, 1937 1936 11,928,000 U.S. Bur. Mines, 1938 1937 16,628,000 U.S. Bur. Mines, 1939 1938 19,211,000 U.S. Bur. Mines, 1938 1939 22,799,000 1940 19,764,000 1941 16,361,000 1942 21,754,000 Total 183,170,000 This tabulation shows the steady growth of the industry in Michigan since the first discovery of oil in 1925. Maes A map of the oil and gas fields of Michigan in 1941, published in the report for 1942, shows the main producing areas and should be referred to if information in regard to their location is desired.* The main producing zones were shown in the columnar section in the same publication. Development in Fields Reed City Field.—During 1942 the Reed City field, which ended 1941 with 112 producing oil wells, added 70 new producers to bring the total at the end of the year to 182 wells and 4700 proven acres. A south extension of the field developed during the year was in large part responsible for the increase. Approximately 9,000,000 bbl. of oil was produced from the field during the year, bringing the total accumulated production to the end of the year to roughly 11,750,000 barrels. Headquarters Field.—The Headquarters field, which started the year with ro producing oil wells, ended the year with 41 wells aid 1240 proven acres. Approximately 2,300,000 bbl. of oil was produced in 1942. Kawkawlin Field.—Although not a 1941 discovery, the Kawkawlin field has been actively developed on the 40-acre spacing plan during the last year, 42 producers having been completed, bringing the total number of wells at the end of the year to 77. Nearly 500,000 bbl. of oil was produced during the year.

Jan 1, 1943

By R. T. Mishler

I wish to express my keen appreciation of the article on the above subject by Coe and C1evenger.l It has been doubly interesting to me, for the reason that the experience recorded and the principles evolved practically parallel the results of similar investigations made by myself and others at The Lucky Tiger Mine, El Tigre, Sonora, Mex. An outline of the work at El Tigre may aid in confirming the principles expressed by Coe and Clevenger. El Tigre has the unenviable distinction of possessing a slime with a much lower settling rate than any recorded in the article discussed. Under most favorable conditions the settling rate is about one-third that reported for the Liberty Bell mill, and one-tenth that reported for the Nipissing, Golden Cycle, and Presidio mills. This slow settling characteristic of Tigre ore has necessitated careful investigation of settling phenomena throughout the various evolutions of the plant. Previous Settling Investigation at Tigre During construction work at the mill, the metallurgical engineer in charge, D. L. H. Forbes, ran a series of experiments on settling. His tests proved that deep settling tanks were not ordinarily necessary. The use of tanks 2 or 3 ft. in depth was suggested.2 Later experiments demonstrated that the following principles of settling applied to Tigre pulp.3 1. In settling dilute pulp, settling rates are independent of pulp depth. 2. In settling thick pulp, settling rates are approximately proportional to pulp depth.4

Jan 1, 1918

By Albert W. Giles

The splitting of the coal by partings is a familiar feature of many coal beds. The partings are normally argillaceous, more rarely sandy or calcareous. The material is usually fine-grained, less frequently coarse-grained to conglomeratic. Many partings are wedge-shaped, others are lenticular, and in some coal beds thin partings but one or two inches thick persist as thin sheets throughout areas of regional extent. The origin of the partings differs, and in some cases is obscure and uncertain. Origin of Thick Partings Wedge-shaped Partings Wedge-shaped partings are normally of indefinite linear extent but of short transverse section. They are developed adjacent to the borders of the original peat-forming swamp or around islands formed within the swamp, hence their presence is indicative of the approximate limit of the coal bed or of an interruption in the continuity of the coal bed. Following deposition of the parting gradual reestablishment of swamp conditions is followed by burial of the parting with accumulating peat. Partings developed adjacent to the borders of swamps normally thicken toward the periphery of the swamp and represent either detrital materials carried in from adjacent land areas during floods or materials carried in by advancing waves and currents after a barrier confining the swamp had been breached by the waves. Partings formed in the manner first mentioned should become coarser and more arenaceous toward the source of supply of the detrital materials, and the overlying and underlying coal should gradually grade into carbonaceous shale as the margin of the original swamp is approached. Partings formed by advance of waves across a barrier should be largely or entirely arenaceous, thin wedges of short longitudinal section, possibly with fossils of marine or brackish affinity. The subjacent coal normally should "pinch out" against the barrier, and the overlying coal continue to the barrier, or even extend across it, depending on the geographic conditions established following the breaching of the original barrier. Islands may be formed in swamps in a number of ways. They may represent local uplift of the swamp floor during earthquakes, or

Jan 1, 1934

By John M. Karpinski, David S. Cahn

A new device based on a constant rate of loading has been developed for the compression testing of green and dry pellets. This device has a lower test variation for green pellets than the existing constant deformation rate tester. While the test variations for dry pellets are similar for both types of machine, the new tester is sensitive enough to measure dry pellet deformations of 15 µ in. for cyclic loading studies. In the study discussed here, the compressive load at which a pellet breaks proved to be a normally distributed random variable, and the load-deformation relationship was found to be linear for dry pellets but not for green pellets. The paper emphasizes the need for a standardized test procedure throughout the industry. For many years the green and dry compressive strengths of pellets have been considered as possible criteria of pellet performance during induration. Little attention, however, has been given to standardizing the unfired pellet compressive strength test or to determining the characteristics of this test. The purpose of this study was to compare the constant deformation rate test with constant loading rate

Jan 1, 1969

By W. E. Remmers

THE defect in wire known as "cuppiness" has appeared and disappeared from time to time but the exact cause of its appearance or disappearance has not heretofore been known definitely. This defect is not limited to one particular metal or alloy but seems to be found at various times in all of the materials that are drawn into wire. Fig. 1 represents cuppy wire made from an aluminum alloy and Fig. 2 illustrates copper wire that became cuppy in drawing without intermediate annealing. Differences of opinion are current among the manufacturers of wire and in the literature (see Bibliography at end of paper), some believing that the source of the trouble lies in segregation in the wire rod, oxides, sulfides, slag, etc. ; others that the trouble is created by an unevenness of stress distribution across the section of the wire, usually thought of as being a function of die shape. All of the published work is of a qualitative rather than a quantitative nature. With this in mind, it was deemed advisable to make a study of the shape of the wire-drawing dies, as well as the oxygen content of the copper to be drawn.

Jan 1, 1929

By G. R. Speich

RECENT studies by Smith and Olney,1,2 Olney,3 Greifer and Salli,4 Rys etal., and Olney and smith 6 have established that graphite is the first decomposition product to format the surface of hypereutectoid plain-carbon steels when they are austenitized in a vacuum or inert atmosphere and slowly cooled. This graphite evidently forms directly from the austenite and only at the surface of the specimen. The interior of the specimen is found to be free of graphite. The graphite layer can almost completely cover the specimen surface and the rate of its formation is markedly sensitive to the orientation of the austenite. The present work was undertaken to study this phenomenon further, especially with regard to the effect of temperature and austenite orientation. The material studied in this work was a high-purity iron-carbon alloy containing 0.88 pct C, 0.005 pct Mn, 0.016 pct Si, 0.005 pct S, and 0.002 pct P. Specimens were heat-treated in a commercial hot stage modified for rapid quenching.7 This permitted direct observation of the formation of the surface graphite. A vacuum of 10"" to 10-5 mm of Hg prevented oxidation or decarburization of the specimens. Specimens were austenitized for 30 min at 1100°C and quenched to a series of lower temperatures where they were isothermally transformed. Surface graphite was observed to form at 700°, 750°, and 780°C but not at 825°, 900° or 1000°C. Since the maximum solubility of austenite for graphite is 0.88 pct C at 800°C,8 surface graphite only forms at tem-

Jan 1, 1962

By J. C. Bartlett

As American students of mining, philosophy, philology, music, history, or art have found it necessary or highly advantageous to supplement their course of study at home by a residence of some years at a foreign university, so, ever since mining has been practiced in this country in any other than a rude and wasteful manner, many American students of mining have sought in London or Paris, but chiefly in the Academy of Freiberg, Clausthal, or Berlin, such infor-

By Heinrich Freyn

THE American iron and steel manufacturer finds himself to-clay barely at the threshold of enormous possibilities for practicing rational economy in the use of fuels. The fuel cost is by no means the smallest of items which enter into the cost of manufacture of iron and steel products, but the great wealth of this country in high-grade fuels, together with a protective tariff, has heretofore made fuel economy relatively unimportant. In Germany, the use of raw coal for the purposes of iron and steel manufacture has been all but abandoned and large sums of money, formerly irrevocably wasted, are now being saved. When scanning the literature of this country devoted to the application of gas power, but little information will be found on a subject which, however, is destined to become of considerable importance in the United States, namely, the use of coke-oven gas for the generation of power in gas engines. This lack of information can be traced to the fact that the regenerative by-product coke oven with its large amount of surplus gas is still far from having attained in this country the universal application which it has found in Europe. This statement needs hardy any corroboration other than the evidence of statistical investigations made by E. W. Parker of the United States Geological Survey, according to which only approximately 25 per cent. of the total coke produced in this country in 1912 was made in by-product coke ovens, whereas 75 per cent. was produced in bee-hive ovens. This entailed the enormous loss of over $80,000,000 in non-recovered by-products, such as gas, tar, and ammonia, without considering the substantial loss due to the non-recovery of benzol from the coal. There are two more or less distinct fields of application of the by-product coke oven: one, to furnish as the main product metallurgical coke of specified quality, and surplus coke-oven gas as the by-product, and the other, to carbonize high-volatile coals, and thus produce as the main product large quantities of gas, high in heat value and rich in illuminants, adapted primarily for domestic heating and lighting, while domestic coke becomes the by-product.

Jan 4, 1914

By John K. Hammes

INTRODUCTION This introductory paper presents a description and definition of what the finance function is and what it specifically means for the mining industry. In its simplest terms, finance is, "management of money matters". As an area within the discipline of business administration it draws heavily on the related fields of economics and accounting, and to a lesser extent on marketing and production. MINING FINANCE DEFINED In preparing to write about what finance means to the mining industry, I asked a number of mining people the question, "What does mining finance mean to you?" Most responded that mining finance was "How a company borrowed money for mine development", and perhaps half those questioned included "raising equity" in the definition. It is not surprising that the mining industry concept of finance is the providing of funds needed for the objectives of the business, for that was once a view shared by authorities in the field of business administration. Further, it is certainly the area where much of the emphasis has been placed in the past ten to fifteen years as the industry struggled with the development of more remote and more refractory or lower-grade orebodies while profitability and internal cash flow were below expectations. No wonder project finance became such a popular topic. Twenty years ago it is probable that the emphasis would have been on mine valuation, for that subject was the area of finance then most often examined in industry publications. Papers concerning the pros and cons of payback, internal rate of return, and discounted cash flow appeared regularly. Let's examine the following situations, each the result of a financial decision: - Funding the exploration program in a developing country was accomplished by buying the next six-months budget needs in local currency. One week later the currency devalued 30 percent. If the purchase had been delayed or the local currency borrowed short term, a substantial saving would have been made in funding the program. - A major mining company borrows heavily to finance both expansion of its primary mining business and its entry into several new industry segments. When markets for all of the commodities it produces turn down for a prolonged period, there is concern over the adequacy of cashflow to cover debt service in addition to other company needs. The company's financial officers, however, had arranged very large committed credit facilities from numerous financial institutions which assured the availability of funds for several years. This enabled the company to implement a strategy to conserve cash, sell assets and survive until conditions improved. Further, short term suppliers of credit also were comfortable with the assurance that longer term credit was there to support them. -A medium size mining company financed several mines independently with limited obligations on the part of the parent company. The company decided to refinance the operations under one agreement. More flexible terms, lower interest cost and a longer tenor financing were achieved in return for assuming the risk as a direct obligor. - The exploration and development group of a large mining company proposes to develop a new mine in a country in which the company does not presently operate. When the investment is rejected they are advised that one reason was that the reinvestment assumption inherent in the discounted

Jan 1, 1985

By W. F. Boericke

INTRODUCTION THE Wisconsin zinc district, or the Upper Mississippi lead. and zinc district as it is also termed, lies in the southwestern corner of Wisconsin, and embraces adjacent portions of Illinois and Iowa. It includes Iowa, Grant, and Lafayette counties in Wisconsin, and Jo Davies county in Illinois. In Iowa, Dubuque formerly produced considerable lead, but there has been little mining there in recent years. The map, Fig. 1, shows the entire district, with roads, railways, streams, and the various towns, or "camps," around Which the mines. are clustered. The hatchwork indicates the areas iii which lead and zinc have been mined. The district is about 60 mi. (96 km.) north and south and about 40 mi. (64 km.) east and west. Not all of the territory is mineral bearing, and there are considerable areas that are believed to be barren. The grouping of the mines is patchy and irregular, though certain broad zones of mineralization extend almost the full width of the district, as from Mineral Point west through Mifflin and Livingston, and from Shullsburg west through New Diggings and Hazel Green. It is worth noting that the best mines of the district have, to date, been found within 10 mi. east or west of the fourth principal meridian line, thus lying within a long, narrow, north-and-south belt extending the length of the district. In a field as large as the Wisconsin, which has only within com-paratively recent time been worked intensively for zinc, the. chances are good for, opening new and important orebodies in parts of the district not yet, or insufficiently, prospected. However, the prospecting has been most successful around, or adjacent to, the old lead diggings of nearly a century ago, and the camps that were well known then are still centers of activity. In their order of importance they are: New Diggings, Benton, Mifflin-Livingston, Galena, Linden, Hazel Green, Shullsburg, and Highland.

Jan 8, 1919