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By G. Wranglen

On account of the possibility of isolating carbides in steel it is generally assumed that the electrode potential of iron carbide is more noble than that of ferrite.1,2,3,4,5 Differences from 0.032 V1 to 0.4 V4 have been recorded. However, it is important to realize that the more noble behavior of cementite in relation to ferrite is not an issue of thermodynamics but of reaction kinetics. Theoretically, cementite is less noble than ferrite, which is a direct consequence of its thermo-dynamic instability. With the value ?F°298 = +4700 cal per mol for the free energy of formation of cementite6 it is easily calculated that the electrode

Jan 1, 1950

By F. C. Bond, J. T. Wang

H. J. Kamack (E. I. du Pont de Nemours & Co., Inc., Wilmington, Del.)—Rittinger's law usually is stated to the following effect: "The work (or energy) consumed in particle size reduction is proportional to the new surface area produced." The law has been stated substantially in this way by Taggart20 Berry21 Dalla Valle22 Coghill and DeVaney,23 Richards and Locke," Gross,25 and many others, and, according to Gaudin,26 was originally expressed by Rittinger in the same form. Consequently there can be little doubt that this is the understanding of the law among most workers in the field of particle size reduction. Bond and Wang, however, express the law in the form "the useful work accomplished . . . ." (italics theirs). The distinction is critical, for in the form used by Bond and Wang the law becomes, as they themselves remark "merely a more or less arbitrary definition of useful work," while in its usual sense the law expresses a physical hypothesis which has been verified experimentally within certain limitations. Considering the way the law has been used, it might be stated more explicitly as follows: "In a given machine operating under a given set of constant operating conditions, the work consumed in the particle size reduction of a given material is proportional to the new surface area produced." Or, as Coghill and deVaney have said,27 "the (Rittinger) law holds only when the tests being compared are made under analogous conditions." There are occasions when the law transcends these limitations; for example, the surface area produced per unit energy consumption for a given material in a ball mill does not vary much over a fairly wide range of operating conditions. But by and large, the surface area production per unit energy consumption will vary with the operating conditions, the type of machine, and the material. The essence of Rittinger's law is that the surface area production per unit energy consumption is independent of the particle size, and this has been verified experimentally by numerous workers for numerous materials, within certain limits. An important limitation is that when one grinds to very small particle sizes, agglomerative forces may tend to interfere with size reduction so that the surface area increases less rapidly than Rittinger's law would predict. Within such limitations, Rittinger's law can be regarded as empirically established. The law has, however, certain theoretical implications, and it seems to be chiefly against these that Bond and Wang direct their criticism. Solids are believed to possess surface energy which is proportional to surface area. Thus, Rittinger's law implies a proportionality between surface energy produced and mechanical energy expended (for a particular material in a particular machine). It does not imply that all or most of the mechanical energy is transformed into surface energy; in fact it is known that most of the mechanical energy is transformed into heat. Bond and Wang assert that most of this heat arises from the damping of elastic vibrations of stressed particles. This may possibly be true for crushing (with which they are chiefly concerned), although in grinding it is probable that much of the heat arises from friction between particles. However, the fact that the surface energy is small compared to the heat energy does not invalidate Rittinger's law, which implies merely that they are proportional. The authors also criticize Rittinger's law on the grounds that "this theory cannot be justified mathematically, since work is the product of force times distance, and the distance factor is ignored," and "energy input must be the product of force times distance, and the Rittinger theory completely ignores large variations in the distance (strain dimension or deformation) throughout which a force must act to produce breakage of different materials." However, the quantities force and distance as such are irrelevant to Rittinger's law, which considers energy input as an integral quantity. The fact that different materials require different forces and strains (hence, different amounts of energy) to break them is incontrovertible but again is irrelevant to Rittinger's law, which, as mentioned before, applies -only to a single material. Even in theory, it would not be expected that the surface area produced per unit energy consumption would be the same for different materials, because the surface energy per unit area is presumably specific to each material. Bond and Wang advance another argument of a

Jan 1, 1952

By R. C. Gifkins, A. Gittins

A. Gittins and R. C. Gifkins (University of Mel-houvne)— Evidence from somewhat similar experiments to those described in this paper has led us to the conclusion that possibility 2) of the four listed on p. 319 is a description of what happens in grain boundary sliding. That is, sliding is limited by accommodation deformation, it being necessary to the Continuance of sliding that this accommodation should take place. An example of such accommodation, though probably not the most important, is fold formation at triple points. The evidence and arguments for this point of view are set out in Refs. 14 to 16. In particular, an experiment with a lead bicrys-tall5 seems to support point 2) rather than 3). In creep of this specimen it was found that at least 90 pct of the extension of a zone 0.3 mm wide at the boundary was supplied by sliding at the boundary. The sliding was localized in a region at the boundary very much smaller than 0.3 mm, in fact, in a region too narrow to resolve optically. In poly crystalline Specimens&apos; there appears to be a surface effect, as found by Rachinger," but it appears that this may not manifest itself at low strains. "Low strains" means <10 pct for a Pb-TI alloy, <2.5 pct for magnesium or "Magnox" A12 alloy, or <40 pct for a 0 brass. Up to this extension the sliding, measured by the mean vertical step at boundaries, is proportional to extension. We are able to say this with some confidence, since the error bars on our points are statistically derived. Our results would lead us to think that the error bars on other work, including that of Mullendore and Grant, are much too large at low strains to show this

Jan 1, 1963

By Milo Krejci

(Butte Meeting, August, 1913.) THE plant and quarries of the Inland Portland Cement Co. are located at Metaline Falls, Wash., about 128 miles north of Spokane, on the Pend Oreille river, and within 10 miles of the Canadian border. The plant is one of a chain of cement plants controlled by the Lehigh Portland Cement Co., of Allentown, Pa. Work on this plant was commenced in June, 1910, and was completed in April, 1911, but on account of some delays in &apos;the construction of the power plant, the works were not put into operation until August, 1911. Since then it has been in continuous operation and has furnished the Inland Empire with a high grade of cement. Fig. I is a view and Fig. 2 is a plan of the works. Water Power Development.-The source of the water supply for the hydro-electric plant of the Inland Portland Cement Co. is Sullivan lake, a body of water approximately 5.5 miles long and 0.5 mile wide, situated in the Kaniksu Forest Reserve. A wooden crib dam was installed so as to raise the elevation of the lake 25 ft., and the additional storage capacity was taken up by the diversion of Sullivan creek into the lake by means of a wooden flume, 0.25 mile long, 6 by S ft. in cross-section, and a ditch 1,200 ft. long. The water from the lake follows the natural water course to an intermediate storage reservoir, which was created by the construction of an earthen dam. This pond wits used in connection with the saw mill which was installed at this point. Besides the earth dam, there was also built a crib, at the point shown in the sketch map, Fig. 3. This crib dam is 35 ft. high. From this point the excess water follows the natural course of Sullivan creek to the Pend Oreille river.

Jan 7, 1913

By A. Matsubara

Jan 1, 1922

By A. Matsubara

Jan 1, 1922

By R. W. Diamond

THREE mills are now operated by the Consolidated Mining & Smelting Co. of Canada, Ltd.: (1) The Sullivan Concentrator, Chapman Camp, B. C. (near Kimberley, B. C.), (2) the, St. Eugene Concentrator, Moyie, B. C., and (3) the. Tadanac (Customs) Concentrator,Trail, B. C. Differential flotation is the only concentration method employed in all three plants. Tables are used for pilot work only. Values in all ores treated are as minerals of some or all of the metals -lead, zinc, gold or silver. Occasional customs ores contain small amounts of copper. Sulfide iron content of ores treated varies from a FIG. 1.-THE SULLIVAN CONCENTRATOR, CHAPMAN CAMP, B. C. (NEAR KIMBERLEY, B. C.). low figure in some ores to 38 per cent. iron in Sullivan ore. Gangue minerals vary considerably. A few customs ores are somewhat oxidized and as a result present difficulties. Flotation equipment and control are similar in the three mills, and the flow sheets at the St. Eugene and Tadanac mills, while much simpler, are modeled after that of the Sullivan Concentrator. In this paper I will not detail treatment nor equipment in any of our plants but will describe special features in, or in connection with, all of them. I will then deal with flotation reagents, describing our use of each of them, particularly where differing from general practice. I will conclude with comments on special subjects related to differential-flotation.

Jan 1, 1927

By M. A. Whiting, H. Kenyon Burch

One of the advantages presented by electric drive in many classes of work is the ease with which the electric motor can be controlled automatically. In a large number of cases certain features of the control are automatic—for example, the rate of acceleration may be limited automatically or the equipment may be stopped automatically at the limit of travel—but the equipment is started and ordinarily is stopped by hand. In other cases the motion of the machinery is utilized to start, control the speed, and stop the motor automatically, independently of any operator. A considerable proportion of the large mine hoists now in use have certain automatic features, particularly protective devices against overwinding, and, in some classes of electric hoists, devices for preventing excessive acceleration or retardation. The large automatic hoists discussed in this paper, however, are completely automatic, i.e., capable of making their trips without the presence of an operator at the control levers. According to circumstances, various advantages may be obtained . by automatic control, chief of which are decreased power consumption, increased precision and safety of operation, and decreased cost of attendance. The first step in the analysis of a prospective automatic mine hoist is to determine whether automatic operation is feasible at all. If men are to be hoisted, or levels changed, the attention of an operator is required for these purposes; but under some conditions it may be entirely practicable and advantageous to build the equipment so that, while provision is made for hoisting men or changing levels, ore can be hoisted automatically from any one level. If, however, an operator&apos;s attention is required every few minutes for changing levels, handling men or drills, or other work requiring hand control, it is obvious that automatic operation between times will not be of any practical benefit.

Jan 1, 1917

By M. C. Young

The Ozark Lead Company operating facilities are located in Reynolds County at the south end of the "New Lead Belt" of southeast Missouri. Development of this wholly owned subsidiary of Kennecott Copper Corporation started in May 1964, with a six foot diameter by 1250 foot deep steel lined shaft. A 20-foot diameter, 1480 foot deep, concrete lined production shaft was collared in March 1968. Production from the facilities began that month and has reached a present average of approximately 6000 tons per day. This paper describes the fully automatic system used to hoist the lead-zinc ore from a depth of 1420 feet to the surface crushing and concentrating facilities, as well as the man and materials hoisting system which allows the lowering of large equipment into the mine. MINING Galena, sphalerite and some copper minerals are found in several mineralized zones of the relatively flat lying dolomite of the "Bonneterre formation". The mineable ore zones vary from 10 feet to 110 feet thick, from 200 feet to 1200 feet wide, and several thousands of feet on strike. Two-boom diesel-hydraulic jumbos equipped with rotary percussion drills are used for both development and production. The jumbos are used principally to open the room and pillar stopes, and a track mounted down hole drill is used to bench in areas where the ore thickness warrants. Explosives used are ANFO, dynamite, and water-jell which are detonated by electric blasting caps. Broken ore (and waste) is hauled by rubber tired transports to chuted transfer raises. Approximately every 500 feet, these raises connect the orebody to the 15 foot by 28 foot train haulage level below. Two twenty ton diesel-hydraulic locomotives haul 160 tons per trip to storage pockets which have a total storage of 1500 tons of material. From these pockets the material is fed over a 6 foot by 20 foot mechanical vibrating feeder which includes one 4 foot by 6 foot grizzly section to a 48 inch by 60 inch jaw crusher. The grizzly and crusher products are transferred horizontally 45 feet on a 48 inch conveyor belt, to one of two 750 ton storage pockets. The material can flow unimpeded into one pocket or be deflected into the second pocket by a movable rock filled hopper. LOADING POCKET The material in each storage pocket is controlled by six lengths of ship anchor chain. The upper end of the 20 foot chain is anchored behind a brow in the pocket, while the lower ends are joined by a header. The lower ends of the chains are raised by two electric powered marine barge winches using 3/4 inch cables. The crusher operator controls the raising and lowering of these chains from a console in the crusher station. The upper and lower travel of the chains is controlled by cams and limit switches on the winch drive. The winches are located within 5 feet of the shaft, and shaft water continually causes problems with the electric components. A malfunction in the upper travel switch will cause the winch to pull the chains into the cable sheave (breaking the cable or sheave), while the lower switch causes the winch to unwind too much rope. Serious consideration is being given to changing the electric motors to pneumatic, since pneumatic motors will eliminate the need of any electrics at the winches. The winches can be "bottomed out" against the sheave without damage to the cable or sheave when raising the chains, and can be allowed to "free wheel" to lower the chains. A surge pocket below the two storage pockets feeds material to two

Jan 1, 1975

By J. Charles Miller

NATURAL carbon dioxide has recently been exploited in the United States in consequence of oil and gas developments in the Western States and the growing demand by transcontinental and transoceanic shippers for solid carbon dioxide. The discovery by drilling of commercial deposits resulted in consideration of its geographic and geologic distribution and occurrence. Its wide distribution in nature is evidenced by its occurrence in the atmosphere, hydrosphere and lithosphere. The question of origin of carbon dioxide involves consideration of theories similar to those concerning natural hydrocarbons, although available evidence favors an inor-ganic rather than an organic source. Areas favorable to development of commercial production appear to be those in proximity to igneous rocks or in the vicinity of decadent volcanic activity, where, it has long been known, the gas is evolved either free or dissolved in the waters of furnaroles, geysers or mud pots. Structure contour maps are presented showing the Wagon Mound anticline in New Mexico and the Farnham anticline, Utah. A well drilled on the latter supplies gas to a 20-ton plant manufacturing solid carbon dioxide at Wellington, Utah, on the Denver and Rio Grande R.R., whence it is shipped to surrounding territory and to the West Coast. Before funds are invested in a plant for the manufacture of liquid or solid carbon dioxide, whether supplied by wells or springs, an effort to ascertain the volume of gas available is advisable. The use of present methods of estimation of gas reserves with modifications to account for the quantity absorbed by any water present in the produc-ing formation is recommended. The Farnham anticline is used as an example and computations are made of the probable volume of gas originally present in the struc-ture. No attempt was made to compute reserves in the Niland area, California, for the reason that in such areas it is believed the volume is indeterminate.

Jan 1, 1937

THE paper on "Specific Efficiency of the Blast Furnace" by Richard Franchot, which was pub-lished in the September issue of MINING AND METALLURGY, was presented for discussion at the Pitts-burgh meeting. The session opened with a discussion among S. P. Kinney, Mr. Franchot, and J. N. Reese as to the methods and results in sampling for cyanides in the blast furnace. This is covered in detail in writ-ten discussion below. T. T. Read objected to the use of the term specific efficiency as likely to be confusing. The blast furnace has to perform the function of reducing Fe, 03 to Fe as well as that of fusing the metal and, since the reduc-tion of Fe, 0? involves a CO equilibrium, it seems mis-leading to calculate efficiency on the basis of burning the , all carbon to CO? since it is not possible. Mr. Franchot replied that he used the term in the sense defined by Richards in his "Metallurgical Calculations;" but a subsequent search failed to reveal the term in Richards, who says (page 245, 1st edition): The practical conclusion is that a blast furnace generates in itself not much over 40 per cent of the calorific power of the fuel used, and rejects nearly 60 per cent; by using part of the waste gases to heat the blast, however, some of this rejected heat, to an amount representing net 5 to 10 per cent of the calorific power of the fuel used, is returned to and injected bodily into the furnace, thus rendering available for the purpose of running the furnace about 50 per cent of the calorific power of the fuel as a maximum. The efficiency with which the furnace applies this 50 per cent usefully to the objects of the reducing and smelting is another question for investigation.

Jan 2, 1927

By R. F. Favreau, G. E. Larocque

The objective of the study is development of an analytic process based on rock and explosive properties which allows the prediction of the stress distributions and fracture zone around explosive charges. A computer program has been written for this purpose, using a finite difference approximation to the momentum equation, to describe the motion of the surrounding rock by step-wise integration. Its application provides ground motion data such as stress components, displacement and particle velocity as a function of position and time with respect to a spherical charge. The effect of tensile and shear failure on these ground motion parameters can be included. The analytic procedure contained within this program has been used to predict peak stress as a function of distance in rock for rock-explosive combinations for which field data exists to determine peak stress levels directly. Two methods have been used for the spherical charge which in the analysis replaces the actual cylindrical charges: instantaneous application of peak pressure to a charge having a radius equivalent in contained volume to a charge having a length to diameter ratio of 1, and gradual pressure build up to peak pressure with a charge radius equivalent in contained volume to the total charge used in the field test. The agreement with field data would appear best with the latter treatment. The peak stresses obtained are in closer agreement with field measured peak-stress and a better approximation to field stress wave duration exists in the case of gradual pressure build up. One of the assumptions made in the analysis is that, in the case of cylindrical charges, the explosion pressure rather than the detonation pressure of an explosive establishes the peak stresses in the

Jan 1, 1971

By H. Reiss

The zone-melting process in which redistribution of solute in a solid bar is effected by the passage of a molten zone is considered mathematically. Simple approximate techniques are developed for computing the manner in which redistribution occurs as molten zones continue to pass. The introduction of the "zone-melting flux" provides valuable insight into the nature of the phenomenon, as well as a central mathematical theme in terms of which the process can be discussed. Curves are presented for typical and general cases. AN extremely efficient purification technique was described recently by Pfann.1 Known as zone refining, it consisted of the slow passage of a series of molten zones, produced by external heaters, through a long solid ingot of the substance to be purified. Equations were given for the maximum separation attainable, and a numerical computation method was described for obtaining the concentration in the ingot after a given number of zone passes. The present paper offers an interpretation of the physical nature of zone melting in terms of a transport process in which formal diffusive and convec-tive flows occur. This interpretation, in addition to providing insight into the physical nature of the process, also provides a basis for its mathematical treatment. From this basis, useful equations are developed for the solute concentration in the ingot as a function of the number of zone passes. These are applicable particularly where large numbers of passes are necessary and where numerical computational methods might be laborious. All considerations will deal with the limiting form of the process, described by Pfann,&apos; in which: 1—Diffusion in the solid is considered negligible. 2—Mixing in the liquid is supposed, complete. 3—The distribution coefficient, k, measuring the ratio (at equilibrium) of solute concentration in the solid to that in the liquid is supposed, independent of composition. In general, this paper will be concerned with a bar of uniform (actually unit) cross section, ex- tending in the x-direction from x = 0 to x = L, where L may be infinite. Zone melting is a transport process, and as such must admit of interpretation in terms of a flux of transported quantity. However, the progress of operation is not measured in units of time but in terms of the number of completed zone passes. Consequently, the zone-melting flux will be a rate, per unit pass, rather than per unit time. The description of this flux and the examination of its properties is given below. Zone-Melting Flux Fig. 1 represents an intermediate stage of the nth pass. Concentration C is plotted against distance, x. The molten zone with its back at the point x and front at x + I moves in the direction indicated by the arrow. As it moves, it leaves behind the nth

Jan 1, 1955

By Louis J. Demer, Paul A. Beck

As reported in a previous publication,1 isothermal grain growth in high purity aluminum and in an aluminum alloy with 2 pct magnesium can be adequately described by means of the empirical relation: [ ] or in some cases, by the simpler relation, [ ] Here, D is the average grain size after an annealing period t. The annealing period includes the time for complete recrystallization R, and the time for grain growth [to]. DA is the grain size as recrystallized, n is a parameter depending on the temperature and on the material. The effect of 2 pct magnesium in solid solution was to decrease D, and to increase R, A and n at a given temperature. The present work was undertaken in order to investigate the above listed effects of magnesium in solid solution, as functions of the magnesium content. The work also includes the study of certain anomalous effects observed in the recrystallization and grain growth of the 2 pct magnesium alloy at 350°C. EXPERIMENTAL PROCEDURE The method of producing the ingots used in this work was described in detail1 and need not be reproduced here. The materials used were high purity aluminum, furnished by the Aluminum Co. of America, of lot analysis shown in Table I and magnesium from a high purity distilled stock of magnesium crystals. [ ] Ingots were prepared for a series of binary aluminum-magnesium alloys of increasing alloy content. The numbers used to designate these ingots and their magnesium contents by chemical analysis are given in Table 2. [ ] The analyses showed no difference in composition between the top and the bottom of the ingots. Spectrographic analysis of the ingots for elements other than magnesium showed, within the limits of accuracy of the method, no increase in impurities over the amounts given in the lot analysis for the high purity aluminum in Table I. Careful microscopic study of ingot 21 in the as-cast condition, at magnifications up t0 1500X, revealed a cer-

Jan 1, 1948

By Charles W. Tandy, Wm. I. Weisman

Sodium sulfate is an important industrial chemical, being one of perhaps a dozen or so chemical commodities that are produced and consumed in the United States in quantities exceeding one million short tons per year. In recent years over half of the country&apos;s production of sodium sulfate has come from natural sources, whereas 20 years ago only 25% was derived from these sources. Production of natural sodium sulfate from various types of deposits is the main source of this chemical in Canada and Mexico, and probably in Argentina, Chile, and the USSR. [Table 1] illustrates the growth in production of natural sodium sulfate in the United States. Mineralogy and Physical Properties Sodium sulfate is widespread in occurrence and is a common constituent of many mineral waters, as well as seawater. Many of the saline or alkali lakes throughout the world contain varying amounts of sodium sulfate. In its natural form it is found as the hydrous salt, mirabilite, commonly called Glauber&apos;s salt, and as thenardite, the anhydrous variety. The largest quantities occur in the form of mirabilite. Sodium sulfate is found in varying degrees of purity, from theoretically pure efflorescent crystals of mirabilite to combinations and admixtures of other salts and impurities. It is a common constituent of some brines, and it is from this source that much is extracted commercially. Sodium sulfate is also found combined with other compounds, such as the mineral glauberite, the double salt of anhydrous sodium and calcium sulfate, and blödite, the double salt of sodium sulfate and magnesium sulfate. While these and other minerals containing sodium sulfate are not economically important, they are of interest because of their frequent occurrence. The reader is referred to other publications (Cole, 1926; Dana, 1932; Grabau, 1920) for descriptions of these minerals. Only the two economically important minerals, mirabilite and thenardite, will be described herein. Mirabilite, Na2SO4 • 10H2O, contains 55.9% water of crystallization. It is noted for its efflorescence or spontaneous loss of water. On

Jan 1, 1975

By John J. Gilman

F many years it has been suspected that a correlation existed between pits produced by etching and the density of dislocations in crystals. In 1953, the interest in this correlation was greatly stimulated when Vogel et al&apos; demonstrated a 1:l correlation between etch pits and dislocations in low angle grain boundaries of germanium. About two years ago, the author began attempts to produce etch pits at dislocation sites in zinc mono-crystals. These attempts met with success a year or so ago,&apos; and since that time a survey has been made of the etch pit patterns that are associated with various modes of deformation in zinc monocrystals. Unfortunately, the etching technique that will be described is too delicate for use as an accurate quantitative tool. Nevertheless, it has been of considerable assistance in clarifying the structure of plastically deformed crystals. Technique Many attempts were made to produce etch pits in high purity zinc crystals. It was found that several techniques would produce surface grooves at grain boundaries that had misorientation angles greater than about l°, but no technique was successful for boundaries with smaller angles. Among the things that were tried were: electrolytic CrO, (both etching and polishing concentrations), HNO, in various water and alcohol solutions, dilute HC1, many 0-0,-Na,SO, solutions, Cr0,-HC1 solutions, picral, electrolytic Na,S,O,, and electrolytic NaOH and KOH. A few attempts to use cathodic sputtering and thermal etching were also made.

Jan 1, 1957

By C. S. Blair

THE development of a geological department as an integral part of the Tennessee Coal, Iron & Railroad Co. in the Birmingham district, Ala-bama, in 1908 was an innovation probably unique for any mining organ-ization south of the Ohio River, At that time a few of the oil companies were starting geological departments, but there were no geologists among the larger industrial organizations. The Tennessee Coal, Iron & Railroad Co. had been a substantial producer of pig iron for many years and was just getting a start in the manufacture of steel products from the pig iron. It had large acreages of coal land, ore land and timber land, but there was lacking the detailed knowledge of the possible mineral resources of much (of its territory, and this territory at that time covered an area in the neighborhood of 500,000 acres in the states of Alabama, Tennessee and Georgia. Those responsible for the operations of the mining properties, not being familiar with the kind of help that might be expected from geologic work, were decidedly skeptical of the utility of the work. Therefore it was necessary to develop cooperation with the mining organization, by not infringing upon its functions, and by developing the work in such a manner as to demonstrate to the mining department its practical utility. In the first instance the man responsible for a mining operation is apt to assume the attitude that the geologist is a blockader, because the geologist, unfortunately, is obliged to point out difficulties in the carrying out of mining operations in the way originally planned. He points out the dangers of mining out one coal or metal seam at the ultimate expense of an upper or lower seam, and he develops structural features, such as faults and folds, which call to the attention of the mining operator diffi-culties in his future operations, which the latter had not anticipated. Eventually, however, -the value of having these data became ap to the Tennessee Coal, Iron and Railroad Co., and the operators not only welcomed the geological work and cooperated fully in its acquisition of essential information, but reached the point of asking assistance and advice; and complete coordination of the two activities has existed for many years.

Jan 1, 1933

By Ralph W. Bailey, William B. Price

ARSENIC, antimony and phosphorus are now used in the brass industry as standard inhibitors in preventing dezincification in [ ] condenser tubes. This subject has been thoroughly covered by Barry,1 who described the testing procedure by total immersion of suitable specimens in a I per cent cupric chloride solution at definite temperatures. Effects of dezincification were then determined by loss in tensile strength and elongation of the test specimens after definite periods of immersion. In the crystallography of the chemical elements as tabulated by William Hume-Rothery,2 phosphorus (metallic), arsenic, antimony and bismuth are placed in group V-B and the type of crystal lattice for arsenic, antimony and bismuth is given as rhombohedral. The Metals Handbook3 [ ] lists them as "rhombohedral hexagonal," with the additional notation that for arsenic this is the ordinary form at 20°C.; other modifications known or probable at other temperatures. In view of these statements and of the fact that phosphorus, arsenic and antimony are effective in increasing the resistance to dezincification, it was natural to assume that bismuth would act in the same manner. A series of tests was therefore carried out employing the methods described by Barry. Much to our surprise, bismuth did not inhibit dezincification, but rather seemed to accelerate it. Tensile-test speci-

Jan 1, 1942

By M. Kaitz

A continuing discussion in both the petroleum engineering and economic literature is directed to the difficulties encountered in the use of discounted cash flow rate of return (DCF) as a measure of investment worth. Although useful in most Instances, DCF has been criticized because it is time-consuming in its trial-and-error solution, theoretically invalid, not adaptable to cash flow streams yielding multiple return solutions and not entirely reliable in selecting between mutually exclusive investments. The theoretical invalidity of DCF stems from the reinvestment assumption implicit in the calculation that earnings are reinvested at the DCF rate. The emerging consensus of the economic literature is that the net present value or the present worth of the net cash flow stream (discounting at the average opportunity or cost of capital rate) is more correct and reliable. Other criteria proposed have been ratios of net present value divided by initial investment or by present value of all investments in a project. All of these criteria are simple to determine and explicitly assume a reinvestment rate for [he income generated by a project. This paper develops and discusses a theoretically valid profitability criterion which is simple to compute and retains the appeal of a percent return on investment. It is called "percentage gain on investment" or PGI. It measures the gain an investment is expected to realize over like capital invested in the average opportunity and explicitly considers reinvestment potential. Why add another Concept to the large array of investment criteria now available, any one of which, or perhaps a combination of several, appears to embrace the form&apos;s (or individuals) objectives? The answer is that not one of the existing criteria provides both a readily comprehensible and theoretically valid measure of risk coverage that has general application. The proposed PGI does fulfill these requirements. INTRODUCTION An ancient expression warns that "one must yield to the times" — there are better ways of doing things. A review of the petroleum engineering and economic literature on one topic alone, measurement of investment worth, certainly is witness to this truth. In use for a number of years, the DCF has recently received attention, directed mainly to its theoretical invalidity. Several alternatives to DCF have been proposed to provide a valid, simply determined criterion to describe investment worth and to overcome the criticisms previously mentioned. This paper introduces another method called percentage gain on investment (PGI) and is proposed as but one of several yardsticks that should be used in making investment decisions. MEASURES OF INVESTMENT WORTH This paper will consider only those criteria which give weight to the time pattern of future earnings. These criteria are usually compared with an average opportunity rate or cost of capital of the firm to judge the relative worth of the investment. For purposes of demonstration, a 9 percent average opportunity rate will be used throughout this paper. Implicit in the DCF calculation is the assumption that earnings are reinvested at the DCF rate. Some argue, though, that there is no reinvestment assumption,&apos; that the DCF rate is simply that maximum rate of interest one can pay on the investment over the life of the project and break even. The determination of DCF is accomplished by discounting the net cash flow stream at that rate (DCF) which will yield zero. The question is: why should reinvestment potential be explicitly considered in calculating return on investment or other criteria measuring economic worth? Perhaps the answer lies in consistent or equal treatment of future cash flow. It appears entirely illogical to give different present worth value to $1 received, say, 10 years from now, which is the circumstance resulting in comparing projects with different DCF returns. In fact, $1 received in 10 years has the same value regardless of which project generated the income. DCF return thus favors investment projects which are expected to provide early income as compared to those providing long-term income. Not surprisingly, the controversy on reinvestment assumption is an old one. Hoskold&apos; discussed this same problem in 1877. He considered the future income from mineral properties as an annuity or a series of fixed future payments. (As will be demonstrated, his equation can be modified for variable income.) Prior to Hoskold, the value or what one could pay for the mine, was determined with the use of standard, single-interest tables. Here is what Hoskold said with regard to these tables. "This table, and others of its kind, to be found in most works on annuities, is constructed correctly according to

By Utley Wedge

(Cleveland :Meeting, October, 1012.) In general, the art of securing copper from sulphide ores or concentrates may be said to consist of : (1) separation, in the molten state, of copper sulphide with some iron sulphide, from the great bulk of gangue-material, followed by (2) elimination of sulphur and iron from the molten matte, by oxidation and fluxing, leaving metallic copper. The definition is made broad enough to cover the general practice, whether or not the ore or concentrate is given a preliminary roast for the removal of surplus sulphur. The above process, which I will designate as the smelting process, makes necessary the presence in the ore, or the addition thereto, of such silica, lime, and iron as may be necessary for the formation of a light and fusible slag, together with sufficient sulphur and iron for the formation of copper-matte, and also the addition to the matte of sufficient silica for the oxidation and fluxing-out of the iron. These items, together with the cost of fuel sufficient for melting the mass, constitute important items of cost in the copper-smelting process. Numerous cases where fluxing-materials are scarce or dear, or where fuel is expensive, have caused special attention to be given recently to the wet process of copper-extraction, which may be designated as consisting of forming soluble copper salts which are then washed or leached out of the ore or concentrates by dissolving in water or acid. Metallic copper may then be secured from the solution of copper salts by electrolysis; by cementation; or copper can be brought out of the solution as a * Presented also at the Joint Meeting of the Institute and Section IIIa, Metallurgy and Mining, of the Eighth International Congress or Applied Chemistry, New York, N. Y., September, 1912, and here published by mutual agreement.

Dec 1, 1912