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By Paul A. Beck

It is well known that the hardness of metallic single crystals, like that of polycrystalline metals, increases during deformation (hardening by cold-work). It is also known that, as a consequence of deformation. the metallic material acquires an evident thermodynamic instability, revealed, for example, by the fact that the increased hardness gradually decreases with time, especially at elevated temperatures (softening by annealing). The temperature at which the stabilizing process begins is different for various metals, and for any metal it depends on the amount of deformation. Such stabilization of deformed metals may proceed in two different ways: through recovery, and through recrystallization. The former process allows the unstable deformed metal body to approach stability gradually and without visible change in the grain structure; the latter process, like an allotropic transformation, yields directly the undeformed stable "phase" in the form of new undeformed crystals, which, starting out of a certain number of nuclei, grow into and " consume " the deformed hard material. The extent of stability attainable through recovery is limited, especially if the deformation of the metal crystal or crystals involves not only the gliding along slip planes, but also the bending of the slip lamellae, or at any rate the bending of comparatively large parts of the crystal lattice. In such cases, for instance in bent single crystals or polycrystalline metals subjected to any deformation, recovery will not as a rule be able to restore the "istraight" undeformed lattice, and stability can be attained only by recrystallization; that is, by the consumption of the bent crystal lattice parts by new, undeformed crystals—a much more drastic process. It is evident that the part of the surplus free energy stored in deformed crystals, which is present in the form of the elastic energy of the bent lamellae, is in these instances not considerably involved

Jan 1, 1937

By C. W. Pritchett

Several years ago, during a trip from Jojutla to Huauatla, in the abate of Morelos, Mexico, I was told by my guide of the ruins of an old smelter near by, and my curiosity was excited to such an extent that I went out of my way several miles to see them. I found them very interesting; and, as I fortunately

Jan 1, 1902

By R. J. Franklin, G. W. Beckman, D. Warren, E. Both, J. F. Libsch

BINARY and ternary alloys of iron, nickel and cobalt respond to annealing in a magnetic field by a characteristic change in the shape of their hysteresis 100p.l,2 An increase in retentivity and a decrease in coercive force produced by the magnetic treatment cause the hysteresis loop to approach the appearance of a rectangle. Materials with a rectangular hysteresis loop have made possible the contact-rectifier³ and have greatly improved the performance of pulse transformers4 and magnetic amplifiers." In the best material presently available for these applications, a 50 pct nickel-iron alloy," the desired characteristics are achieved by aligning the preferred crystallographic directions of magnetization along the rolling direction of the tape. The objective of the present study has been to produce rectangular hysteresis characteristics in materials with inherently high saturation. Iron-cobalt alloys, exhibiting saturation values up to 24,000 gausses' appeared to offer promise for the magnetic annealing technique, because they remain magnetic to very high temperatures,8 exhibit favorable magnetostriction properties: and show zero crystal energy at 42 pct cobalt.10 Among the ternary iron-cobalt-nickel alloys,7,11 response to heat treatment in a magnetic field is unfortunately limited to alloys having rather low saturation values.' It appeared interesting nevertheless, to study a series of compositions connecting the optimum composition (50/50) of the binary iron-cobalt system with the "Perminvar" composition (30 pct Fe, 25 pct Co, and 45 pct Ni). Very recently, R. Smoluchowski and R. W. Turner," have shown that under certain circumstances magnetic annealing can produce oriented recrystallization. A combination of this technique with the domain orientation utilized in the present study might well result in further improvements. The advantages of the powder metallurgy technique in preparing magnetic alloys for study have

Jan 1, 1951

By Charles T. Baroch, Charles J. Baroch

Nuclear energy probably has greater potentialities for changing the world's way of life than any other recent discovery. The atomic-bomb bursts over Hiroshima and Nagasaki suddenly changed the concepts of war. Peaceful uses of nuclear energy are advancing so rapidly that no study of economic trends is complete without giving them consideration. The minerals specialist, especially, must be aware of this new force in our lives, as minerals and metals are essential in harnessing the new force, and atomic energy itself is rapidly improving its competitive position in the energy field. Future historians may chronicle December 2, 1942, as the beginning of the Atomic Age. On that day Enrico Fermi and his co-workers at the University of Chicago produced and controlled the first self-sustaining nuclear chain reaction. Lie many inventions, the first application of nuclear energy was as a weapon of war. However, its potential usefulness in man's work and welfare far outweighs in economic importance its destructive use in war, unless its military effect would be considered so great and all-embracing that no major power will hereafter chance a world conflict. Recognition of this potential has generated a vast international effort to exploit the atom for peaceful beneficent purposes. Like its physical manifestation, the advent of nuclear energy has unleashed chain reactions that have pervaded the political, social, and economic environments of the world. The impact of nuclear developments in one of many fields is exemplified by the uranium mining industry. Uranium was discovered in 1789 and in the next century and a half it found only an insignificant use as a ceramic coloring agent; in fact, in the latter part of that period, it was a largely unsalable by-product of the radium and vanadium industries. Up to 1940 the total quantity of uranium metal produced was not more than a few grams, of doubtful purity. Thus the production of 12,400 pounds of pure

Jan 1, 1964

By Joseph W. Richards

(New York Meeting, February, 1912.) THE Ashio copper-mine of the Furukawa Mining Co. is situated 18 miles from Nikko, and 109 miles north of Tokyo, near the center of Japan. The mine-waters are run over scrap-iron, whereby most of the copper is precipitated as cement copper, leaving iron sulphate with some copper sulphate in solution. After using in the wet concentrating ore-dressing plant, the waste water contains clay and ore-slimes. The only avenue of disposal of this water is the Watarese river; but as this flows through valleys in which the water is used for irrigating the rice-crops, it is necessary to purify and clarify the water before discharge. The water amounts to from 600 to 700 cu. ft. (from 17 to 20 cu. m.) per minute, and averages about 0.00025 per cent. of copper, representing more than 18 tons of copper per month. The water carries H2SO4, FeSO4, Fe, (SO,),, CuSO4 and other metallic sulphates in solution, and clay, ore-fines, slimes and basic. iron sulphates as suspended matters. To purify and clarify the water, precipitation by milk of lime has been used, in three different ways, as follows: I. First Method, Copper not Recovered. Milk of lime was run into the water, and the mixture run through six settling-ponds, and then through a sand filter into the river. Fig. 1 is a view of the settling- and filtering-ponds. In the first pond, sand and metallic hydrates free from copper collected; in the next five ponds, slime, calcium sulphate, and metallic hydrates carrying copper settled out. The effluent carried from 0.1 to 0.05 mg. of copper per liter

Jun 1, 1912

By J. O. Whiteley

IT is difficult to give a refining outline that may be followed for any and all combinations of the platinum metals; different combinations require different methods of attack. This paper does not pretend to go into all of the reactions of the metals of the platinum group, but will outline the commercial refining of platinum scrap. TYPICAL PLATINUM SCRAP As a concrete case, let us take 100 oz. of miscellaneous scrap, made up of jewelry scrap, dental scrap and laboratory ware. This lot will contain some platinum, palladium, iridium, ruthenium, rhodium, gold, silver and copper. The first problem is to get all of the metals in solution. If the scrap is principally platinum, palladium and gold, a treatment with aqua regia is the course to pursue; but if the scrap contains alloys high in iridium or ruthenium, aqua regia will act too slowly. In the case in hand, we are going to presume that we have scrap high in iridium and ruthenium, and proceed accordingly.

Jan 1, 1928

By A. J. Brown

THE causes that have formed fissures in the earth's crust, and the agencies that have converted them into metallic beds, are amongst the most important and interesting subjects that can engage the attention of the mining engineer or the scientist. They lie at the very base of the whole system of vein geology, and until something like a correct theory can be arrived at with regard to them, the science as such is necessarily very incomplete. The data for such a theory, owing to a lack of careful and systematic observations in countries pre-eminently metalliferous, like Mexico and the States of Central and South America, are almost entirely wanting. Doubtless there has been abundant speculation on the subject, from the earliest times down to the present, in every country where mining has been one of the leading industries of the inhabitants. Perhaps the theory of Elie de Beaumont more nearly approaches a satisfactory explanation than that of any contemporary authority. The most recent investigations, both in Europe and on this continent, tend to produce the conviction that the phenomena of metallic fissure lodes are in some way connected with, and- dependent upon, plutonic agencies-not, however, as the direct product of volcanic activity, but rather as the result of chemical agencies called into play through its aid. Active volcanoes generally produce only the well-known types of volcanic rocks, though, perhaps, well-marked cases can be shown where these contain ores of copper, etc., evidently derived from the same deepseated source as their hypogene gangue. To prove that there is a connection between metallic lodes and plutonic rocks, it is not necessary that the ores should in all cases occupy fissures within the limits of masses of propylite, rhyolite, or other like rocks, or be

Jan 1, 1874

By B. M. Larsen

A discussion based on three commercial furnace tests and electrical analogue calculations is presented. It shows that while regenerator efficiency is mainly dependent on loading or relative amount of heat exchange surface plus the heat transfer coefficients as effected by flow velocity, the actual air preheat temperature can be high or low, largely independent of regenerator efficiency, mainly due to the diluting or unbalancing effects of cold air leakage into various parts of the furnace system. THERE are many signs of a renewal of interest in the heat regeneration aspect of the open hearth process, among them being the recent paper by Marsh,' the introduction of auxiliary checkers in the stacks of the Isley furnace design, and a number of recent installations of two-pass checkers in new and old furnaces. However, there are also signs of yielding to the usual temptation of oversimplifying a problem. Faced with the job of obtaining better draft on a furnace, for example, a good designer always recognizes that focusing attention on some one factor, such as height of the stack or capacity of the exhaust fan, does not make his problem any easier; rather he must look at the whole system, including such items as valve resistances, bends in the flues, and flow resistance in the waste heat boiler; then he must make his design in relation to the available draft so as to avoid any serious bottleneck in the system. Yet this example is really much simpler than the problem of air preheating, and again, the latter problem is not really made easier by concentrating on air temperature in uptakes and on the more obvious methods for making this air as hot as possible. Also to be considered are such things as the total amount of air needed theoretically for complete combustion at any selected fuel rate, together with that needed for oxygen absorbed into the bath and for burning the combustible gases given out from the bath, plus some excess air. Furthermore, how does this total air requirement relate to the regenerator efficiency at various loadings? How much of the total air equivalent in stack gases will come from preheated air passed through the whole length of the incoming regenerator and how much from air leakage into various zones of the whole furnace system? Does the effect of leakage air differ depending on whether it leaks into the ingoing regenerator, the furnace above floor level, the outgoing regenerator, or the stack zone? Over a number of years we have in this Laboratory experimented with methods for measuring hot gas temperatures; we have measured, approximately, the efficiency of a few regenerators on commercial furnaces and we have developed an electrical analogue' for calculations of regenerator efficiency. The whole problem is too complex to cover in one paper even with a more complete background of data than we possess, but we can attempt here to clarify certain aspects in a general way, hoping to assist specific plant studies on individual furnaces. Some of our earlier experience has been incorporated into chaps. 4, 19, 20, and 21 in the book "Basic Open Hearth Steelmaking,"" and on the assumption that this text is available to most readers, this discussion has been shortened by references to that book. The most recent design of a flowing-gas thermocouple which we are now using for measurement

Jan 1, 1955

By D. S. Eppelsheimer, D. N. Williams

The compression texture of iodide titanium is determined and found to consist of a [0001] texture rotated 15° to 30° from the axis of compression. As the amount of reduction increases, the angle of rotation decreases. The 0001 rotation showed a slight preference for a <1010> rotation axis. RECENT investigation of the cold rolled texture of titanium&apos; has shown this metal to exhibit a new type of rolling texture. This texture can best be described as a (0001) [10i0] with the 0001 planes rotated approximately 30" to the transverse direction around a <10i0> rotation axis. Rather good results in explaining the cold rolled texture have been obtained by other workers&apos; by examination of the tension and compression textures. No information was found giving the tension texture of titanium. Generally the tension texture of a hexagonal close-packed metal is identical with its wire texture. The drawn texture of titanium has been investigatedh nd has been found to be predominately [10?0]. Since this is the common tension texture of hexagonal metals of low c/a ratio, the explanation of the difference between the rolling texture of titanium and the rolling texture of other hexagonal metals is not indicated by examination of the tension texture. Therefore, the compression texture of titanium should be particularly important in the explanation of the unusual transverse rotation of the 0001 planes found in the cold rolled texture. The compression texture of titanium was examined by Yen.",&apos; His results showed titanium to exhibit the usual [0001] texture up to 85 pct reduction. At higher reduction a double texture appeared in which the 0001 planes were rotated from 10" to 30" from the plane of compression. This change in the compression texture seemed unusual since the tendency for hexagonal close-packed metals is to approach the [0001] texture as the idea compression texture. Mechanical twinning generally occurs over a considerable range of reductions beginning at a rather low reduction. The samples used by Yen in his investigations were prepared by two methods. Compression in a testing machine was used up to a reduction of 85 pct. Compression by compression rolling was used at higher reductions. Since the change in texture occurred at the same reduction as the change in the method of compression, a connection between the two seemed likely. To check this possibility and to locate the position of the change in texture definitely, if it was found to exist, the compression texture of titanium was re-examined. An iodide titanium crystal bar (99.9 pct Ti) produced by the New Jersey Zinc Co. and donated by the Titanium Alloy Manufacturing Div. of the National Lead Co. was used in this investigation. Procedure The investigation of the compression texture was carried out in three steps; compression, specimen

Jan 1, 1953

By Colin G. ink

OUTSTANDI&apos;NG in progress among the less familiar &apos;metals during 1936 is the electrolytic production of 99.9 per cent manganese meta1 readily and many quantity. Strictly speaking, manganese should not&apos; be classed as &apos;a rare metal, since there is 800 times as much manganese in the earth&apos;s crust as there is zinc or lead. But manganese&apos; as a metal is rare, just as titanium metal is rare though titanium is five times as abundant in the earth&apos;s crust as manganese.

Jan 1, 1937

By W. B. Finkeldey, C. H. Mathewson, C. S. Trewin

This paper was prepared upon request as a contribution to a symposium covering the manufacture, properties, and uses of the important non-ferraus metals. In approaching a subject as broad as this, there is a natural desire to build up a comprehensive and finished production which shall constitute a dependable source of information on all questions properly belonging to this branch of metal technology. There are, however, a number of circumstances, apart from the mere routine of labor and thought involved, which operate rather effectively against the possibility of completing such .an ambitious program at the present time. First of all, as far as any public record of results is concerned, the commercial rolling, drawing, and forming of zinc with relation to changes of structure and properties—and this we consider to constitute the clement~ of metal technology—might as well be an unpractised art. We have never seen a published photomicrograph showing the structural characteristics of either hard or soft sheet or strip, although the structure of castings has been frequently described, and other coarse-grained structures resulting from hard-hammering and annealing have been reproduced. Thus, an author in this field must proceed to his task without much assistance from the literature, and the outcome can represent only a personal estimate of principles, facts, or findings, and not a summary or survey of progress in the entire field as determined by varied experience, practice, and settled opinion.

Jan 1, 1921

By John Griffen

THE modern anthracite breaker or washery uses almost completely a wet method of preparation, which requires, roughly, 1 gal. of water per minute per ton of production per day. The entire anthracite industry uses about 320,000 gal. per min. of water for this purpose or 800,000 tons of water per day. As this water leaves the breakers, it contains fine solids-coal, slate, pyrite, and clay-and is then called silt or slush; as slush is the term most commonly used, it will be employed throughout this paper. The solid content of the slush will be referred to as solids. In the earlier days of anthracite mining, little coal was washed, less crushing was employed, and virgin coal was mined exclusively. As a result, the slush problem was not acute because of the relatively small quantity and the coarseness of the solids. Such slush as was produced could usually be easily impounded and retained or could be discharged into streams without any appreciable pollution being apparent. The character of the fine waste from the breakers, changed materially as its quantity increased until now about 40,000 tons of slush solids are produced daily. Second mining and robbing operations materially increased the quantity of fine solids delivered to the breaker in the mine car. The demand for chestnut, stove and egg sizes, to the exclusion of grate, steamboat, and lump sizes, require finer crushing of the mine-run coal with a consequent increase of fine solids in slush. The use of rice and barley sizes removed a considerable tonnage of coarser solids from the slush but left great quantities of fine solids difficult to retain completely and store and long considered of no possible fuel value. Despite the efforts of the coal operators, the slush solids have found their way into the streams causing, in some cases, serious pollution. The Water Supply Commission of Pennsylvania published, in 1916, a report on Culm in the Streams of the Anthracite Region,1 from which the following is taken: About 40,000,000,000 gal. of water carrying 10,000,000 tons of fine culm are discharged into the water-courses direct, flushed into the mines, or disposed of by various means on the surface. The extent to which the very small sizes of anthracite

Jan 9, 1921

By HAROLD E. WHITE

LONG before the Stone Age, when man first sought shelter where there-were no natural shelters, such as caves and clefts in the rock, he uprooted trees and planted them upside down so that the roots formed the roof. By selecting trees whose roots grew out in a horizontal direction and; by planting these trees close enough - together, a crude shelter was formed. He then took mud, formed a plaster and covered over the&apos; roots. Later the walls were made by using sticks and twigs and plastering between them. It is natural then, that he wiped his muddy hands on- his own hairy body and soon found that the mud was difficult to remove when, dry. It is due, to this discovery that we mix animal hair in &apos;our modern plaster to increase its strength. The use of fibrous asbestos in some refractory cements has followed this same principle.

Jan 1, 1929

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members.) Members and guests who called at Institute headquarters during the period August 1, 1916 to September 10, 1916: C. L. Cantley, New Glasgow, N. S. H. M. La Follette, La Follette, Tenn. D. A. Cowell, Columbus, Ohio. Montrose L. Lee, Montevideo, Uruguay. Alexander Deussen, Houston, Texas. V. H. McNutt, Billings, Mont. Chas. E. Dutton, Goldfield, Nev. J. W. Maller, New York, N. Y. H. S. Emlaw, Grand Haven, Mich. Edwin W. Mills, Tul. Mi Chung, Chosen, J. M. Gillette, Swatsburg, N. Y. Korea. E. Gorilla, San Antonio, Texas. Francis R. Pine, Elizabeth N. J. Bertram Grant, Kingman, Arizona. Frank A. Ray, Columbus, Ohio. Ruger W. Hay, Bisbee, Arizona. John A. Rice, El Paso, Texas. C. F. Hendricks, Cobalt, Ontario. W. E. Rice, Ringwood Manor, N. J. Stanley C. Herold, San Jose, Cal. W. H. Staver, Lynchburg, Va. Lloyd Hoffman, Pottersville, N. J. Ralph H. Sweetser, Easton, Pa. Charles Hunter, London, England. Kirby Thomas, New York, N. Y. G. Jansen, Benkoelen, Sumatra. Henry Traphagen, Union Hill. T. H. Jenks, Oatman, Arizona. M. M. Valerius, Tulsa, Okla. Warren jenny, Chanaral, Chile. Wilfrid B. Wainewright, London, Eng. Walter A. Barrows, Jr., of Brainerd, Minn., has been elected president and general manager of the Thomas Iron Co., Easton, Pa., to succeed Ralph H. Sweetser, whose resignation of several months ago becomes

Jan 10, 1916

By Allan J. Clark

It is nearly three years since the metallurgy of the Homestake ore was discussed with considerable thoroughness, in a paper1 read before the Institution of .Mining and Metallurgy. Certain changes have been made in this period which are perhaps of sufficient interest to justify a brief description, and it is chiefly with such details and miscellanies that this paper will deal. In the circumstances, a certain amount of repetition is inevitable, but matter treated of in the former paper will be referred to here only when it is necessary for the sake of coherency. For full descriptions of equipment and technique, the former paper should be consulted. The mineralized slates and schists which constitute the ore vary considerably in composition, but the unoxidized ore, perhaps constituting the major part of the reserves, contains either chlorite or hornblende (cummingtonite), with quartz, carbonates of lime, magnesia and iron, and arsenopyrite, pyrite, and pyrrhotite. Ferrous minerals predominate, and this fact has been an important factor in determining the metallurgical treatment. With one or two exceptions the minerals noted are of relatively high specific gravity, and the ore as a whole is exceptionally heavy, many determinations giving an average specific gravity of 3.00. This high specific gravity presents one decided advantage, when the cost of treatment is compared with operations elsewhere, in that the ton, almost universally the basic unit, represents a volume probably less by 10 per cent. than that of many gold ores. On the other hand, this high gravity renders more difficult the discharge of pulp from mortars, its distribution on amalgam tables, and its transportation in launders. In the same way, as attesting the usual balance of such variations of different ores, it may be noted that the needle-like fibers of hornblende (cummingtonite), interlacing throughout the mass, render the ore more difficult to crush than would be anticipated, but on the other hand assist

Jan 1, 1916

By T. P. Clendenin

THE northerly two thirds of Mexico falls into five main physiographic divisions, illustrated on the accompanying map. In form, these divisions are a series of strips, paralleling the northwest-southeast axis of the country.

Jan 10, 1951

By Norman D. Fitz, Gerald

BOTH physical and economic factors are concerned in determining the optimum rate of depletion of a mineral deposit. The physical limitations are, in a large measure fixed by nature. Economic influences on the other hand, are man-made and subject to wide changes. Analyses of the interrelations of these two groups of factors are of major importance in selecting the optimum rate of production of petroleum and mining properties and in their valuation. Physical Influences PRIMARY limitations on the rate of mining are the rate of shaft sinking and underground development, the rate of hoisting, and the rate of sloping. These rates are largely determined by the physical features of a property. Technical methods which may be employed, and consequently the length of time required, are governed by the dimensions of the deposit, its attitude, depth, regularity, the unit value and character of the ore, the nature of the wall rocks, and similar factors.

Jan 1, 1938

By C. Stansfield Hitchen

THE introduction of the logarithmic sector method of quantitative spectrography by Scheibe and Neuhäusser in 1928, and the subsequent .modification and improvement of the method by Twyman and Simeon, would seem to have marked yet a further advance in quantitative spec-trum analysis and its industrial application, inasmuch as it offers a simple means of eliminating some of the uncertainties inherent in the older methods based upon mere visual comparison of line intensities. In their recent admirable review of the position and capabilities of industrial spectroscopy, Brownsdon and van Someren1 say: Ways and means of facilitating the comparison of line-intensities so as to give them numerical values are helpful, and of these a logarithmic sector rotating in front of the slit appears to he one of the most promising; . . . the success recently experienced by the author in using this method for the examination of steels and solutions of metallic salts prompted him ,to investigate its possible use in estimating the impurities commonly present in crude and refined tin. The results of this investigation are submitted in the present paper. Details of a number of spectrographic analyses of tin for various impurities have already been published. Thus, Schweitzer2 describes the spectrographic examination of tin for lead, bismuth and cadmium, and was able to distinguish between such atomic percentages as 0.01, 0.05, 0.10, 0.30, 0.60, 1.20, 3.00 and 10.00. Negresco3 investigated the bismuth content of tin over a range of from 0.0005 to 35 per cent. Meggers, Kiess and Stimson4 compare spectrographic and chemical analyses of tin metal for copper, lead, iron, zinc, silver, nickel and bismuth. They stress also the value of spectrum analysis in the examination of tin used for boiler plugs, where the requirements that only minute quantities of impurities shall be present render the chemical analysis both tedious and difficult.

Jan 1, 1933

By G. L. Oldright, Henry de Rycker, S. F. Ravitz

The upper limit of richness of concentrates that can be smelted by means of the blast furnace without added diluents is fixed by the operation of sintering. A sinter feed with normal gangue constituents, containing more than about 50 per cent of lead, tends to fuse; as a result, air does not come sufficiently into contact with the sulphides at roasting temperatures, and sulphur elimination is poor. Since most lead concentrates now contain 55 to 80 per cent lead, it is necessary to add diluents to lower the grade of such sinter feed to about 50 per cent or less. This not only entails the expense of providing barren diluents when adequate diluents containing precious metals are not available but also appreciably lowers the capacity of the blast furnace to produce lead and increases slag losses. Attempts to desulphurize rich lead concentrates by methods other than sintering have not proved successful. Flash roasting, for example, converts much of the lead sulphide to lead sulphate rather than to oxide. However, this suggested the possibility that deliberate flash roasting of the concentrates to sulphate, followed by sinter roasting of the resulting product, might prove promising, particularly inasmuch as the elimination of sulphur from lead sulphate requires heat alone and not contact with atmospheric oxygen. The sintering of lead sulphate products has additional interest because important amounts of such products are now treated by lead smelters. Considerable quantities of lead sulphate are present in rich lead flue dusts and other by-products; lead-chamber sulphuric acid plants and other

Jan 1, 1944

By ARCHIBALD DOUGLAS

BY this time almost everyone knows, in a general way, the corporate income distribution policies of the 1936 Revenue Act, and many of the practical problems arising there under. This article is not intended to be a technical discussion of that act by title, subtitle, section, or supplement, nor an analysis of inter- dependent sections of the various acts over many years woven on the fiscal loom f our Congressional machine. Such a discussion would require the spinning of a web of words too long for patience. Yet ,a general statement of the underlying plan of the 1936 Act, so far as it affects dividend policies, is perhaps useful.

Jan 1, 1937