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By Howland Bancroft

AMERICAN investment in foreign mining interests today faces its greatest task. U. S. dollars must make possible the. steady procurement of the minerals our defense effort consumes in huge quantities. The two most vital factors involved in foreign procurement are time and the continued good will of the nations from which minerals are purchased. The Point IV program was formulated to care for the second item, but it has failed to do the job. Its lack of success has not been from intent or from basic failure in formula. Foreign Investment, Four Eras Foreign mineral development, in so far as participation by private capital from the United States is concerned, may be divided into four main chronological categories: First: The period prior to the first World War when people, capital and products moved with relative freedom across international boundaries, and London was the recognized mining seat of the world. By the end of 1919 the United States direct investments abroad amounted to $3.9 billion of which some $900 million were in mining and smelting and $600 million in petroleum. Investment climate throughout most of the world was excellent. Second: The period between the end of World War I, when the international economy had been shaken from its foundations, and the beginning of the great depression of the 1930's, which still further disrupted the world economy. By that time the world mining center had moved across the sea and the United States direct investments abroad had increased to $7.7 billion of which mining and smelting accounted for $1.2 billion and petroleum for $1.1 billion. Investment climate was good in most parts of the world. Third: The period of the depression of the 1930's and the beginning of World War II during which foreign trade was still further disorganized and the international economy collapsed. Nazi barter agreements were initiated in many parts of the world, and Soviet propaganda commenced to make its, influence felt in many countries. During this period United States direct investments abroad decreased to $7.3 billion. Mining and smelting investments during the same period decreased some $200 million, though direct investments in foreign petroleum areas increased an equal amount. Investment climate became less and less hospitable in all parts of the world affected by economic nationalism. Fourth: The period since the beginning of World War II during which total direct investments abroad increased from $7.3 to $13.7 billion. Of this sum, at the beginning of 1950 investment in foreign mining and smelting is reported to have been $1.2 billion-back to where it was in 1929, and in petroleum to have reached $3.7 billion. Investment climate remained favorable in the countries respecting contractual obligations and fair in their treatment of invested capital. [ ] As noted above, the relative freedom of passage across international boundaries by people, capital and products ended with World War I and the situation remains unchanged in a greater part of the world. While this same war upset international economy, the depression of the 1930's caused the collapse of world trade, and exports from all countries fell to an alarmingly low figure. Some countries almost ceased to export. Chile, for example, reported a drop of 88 pct in exports. Countries with

Jan 1, 1952

By John E. Riddell

This review is based on a questionnaire sent out in 1959 to 24 Canadian exploration companies, known to be active in the mineral exploration field, concerning their practice in the use of applied geo-chemical techniques in Precambrian terrains. Of the companies questioned, 21 returned completed questionnaires and of these, 15 companies stated that they had some experience in this type of work. Of the companies who stated that they had no experience in geochemical prospecting in glaciated Precambrian areas it is interesting to note that only three have reported that they do not use applied geochemistry at all. The others have reported that they make use of applied geochemistry in New Brunswick and in the Cordillera in areas of light glaciation. Their opinion is that it is a useful aid when accompanied by other techniques in evaluating mineralized areas. GEOCHEMICAL SURVEYS Table I reviews the type of geochemical surveys used by these companies, and the following points of interest should be noted.

Jan 11, 1960

By S. A. Braley

DRAINAGE water from coal mines is probably the most serious water pollution problem today, varying in importance according to location of the mines and geological structure. Drainage may be either acid or alkaline in character. Acid discharge, the most severely detrimental to a stream, is caused by natural oxidation of the sulfuritic material (FeS2) in the strata associated with the coal seam. Since the acid is the result of a natural reaction the acid water differs because it does not cease with abandonment of the mining operations. There is no known economical method of neutralizing acid mine water or any practical method to prevent oxidation of exposed pyrite. Since production of acid from a mine does not stop when mining stops, the total quantity produced depends entirely upon the excavated areas. The increasing volume of acid water in manv mines has greatly increased operating costs. Pumping is expensive and acid mine waters are destructive of all equipment, especially metals in pumps and piping, and necessitate the use of corrosion-resistant materials. Discharge of the acid mine drainage into streams neutralizes their normal alkalinity, causes them to become acid, and produces an environment unfavorable for aquatic life and unsuited for industrial or domestic use without costly treatment. Mine drainages vary in percentage composition over wide limits, although the usual dissolved substances are ferrous and ferric iron, aluminum, calcium and magnesium sulfates, and lesser amounts of sodium, potassium and manganese sulfates and chlorides. Some alkaline discharges may contain heavy concentrations of iron as iron bicarbonate. These waters may produce iron hydroxide deposits in the receiving stream but do not cause it to become acid. In the extensive literature on acid mine water there appears to be a great deal of confusion about the importance of various components and the methods for their determination. In many instances faulty conclusions have been drawn from use of unsuitable methods of analysis. It is desirable that the factors and terms used in evaluation of analyses of mine waters should be so clearly defined that any interested person could properly appraise any analytical report. Some analysts report complete chemical analyses of mine waters and neglect to record drainage volumes. Others report only a minimum of analytical data after taking no precautions to preserve the original composition of the water during the time elapsing between collection and analysis. Some use methods of analysis intended for so-called pure waters of the potable and boiler water classes. These methods are not applicable to highly buffered waters such as mine water. Probably the most common criteria for evaluation are pH, free acidity, or acidity or alkalinity to methyl orange or methyl red, total acidity or acidity to hot phenol-phthalein, and the sulfate content. If these determinations are made on carelessly collected samples after a few days to weeks standing in warm rooms, they do not in any way represent the character of the water flowing from the mines. It is hoped that a brief discussion of the fundamental value of some of these factors may lead to a bettqr understanding of the need for more careful evaluation of mine water discharges. The term pH is one used by chemists to express relative acidity or alkalinity in terms of concentration of effective hydrogen ion in a solution. It is defined as the negative logarithm of the hydrogen ion concentration or activity in equivalents per liter. pH = logarithm A neutral solution, which is one containing the same number of hydrogen and hydroxyl ions, has a pH of 7. As the hydrogen ions increase and the solution becomes more acid, the pH decreases toward zero; and as the hydroxyl ions increase and the solution becomes more alkaline, the pH approaches 14. When dissolved in water to a dilute solution acids like sulfuric and hydrochloric, commonly known as strong acids, ionize completely, and the pH or hydrogen ion concentration varies with molar concentration of the dissolved acid. However, in high concentrations of such acids, the pH or hydrogen ion concentration is less than the acid concentration because the acid does not completely ionize. In only very dilute solutions does the pH represent the total amount of acid that can be neutralized by an alkali. All ionization reactions are equilibrium reactions. If other chemicals are added to the solution of an acid and the added chemical produces an ion that is the same as one of the ions of the acid, the degree of ionization of the acid is altered and the pH changes to some value that represents the active hydrogen ion of the new solution. Thus if iron sulfate is added to a solution of sulfuric acid the pH increases, since the common sulfate ion suppresses the degree of ionization of the sulfuric acid and decreases the effective hydrogen ion. However, the total acidity of the solution is increased. There are two salts composed of iron and sulfate— ferrous and ferric sulfate. In these salts there is no hydrogen ion that can ionize to give an acid solution, but when they are dissolved in water, the pH is less than 7 and the solution becomes acid. This is caused by a reaction known as hydrolysis and is represented by the equations FeSO4 + 2H2O ? Fe(OH)2 + 2H + SO,: or Fe,(SO,)3 + 6H2O ? 2Fe(OH)3 + 6H+ + 3504 A solution with a total acidity of 5000 ppm according to the first equation will have a pH of 4.40 but one with an acidity of 75 ppm, according to the sec-

Jan 1, 1958

MINING ASSOCIATION OF UNIVERSITY OF CALIFORNIA At a meeting of the Mining Association of the University of California, held May 22, .the .following officers were elected for the fall, semester: President, Sam Grinsfelder; vice-president, Marcus. Peterson; secretary, Ferdinand Trescher; treasurer, Carlton Hulin. F. G. TRESCHER, Secretary.

Jan 8, 1919

By Ralph Hultgren

FEW phase diagrams of alloys composed of two transition metals have been adequately studied, probably because of the high melting points involved. Transition metals are the elements that have inner shells incompletely filled with electrons. They comprise groups IIIa to VIIIa of the periodic table, including more than half of all metals. We have chosen to study two systems whose comparatively low melting points allowed the alloys to be melted in a molybdenum resistance furnace. The nickel-palladium system proved to consist of a simple series of solid solutions, but iron-palladium manifested several remarkable features. The main characteristics of the latter diagram were decisively established, but lack of time prevented precise determination of phase boundaries. The gamma to alpha transformation in this system is unusual and warrants further study. Grigorjew1 determined the liquidus and solidus of the iron-palladium system by thermal methods. He found a minimum melting point, but no eutectic. He also found that palladium lowered the gamma to alpha and raised the gamma to delta transformation temperatures of iron, with a complete series of solid solutions existing between gamma iron and palladium. His measurements also indicated a compound or super-lattice near the composition FePd3. Jellinghaus2 found that annealing at 500° C. greatly increased the magnetic coercive force of an alloy of composition FePd. X-ray dif-fraction photographs showed that a tetragonal ordered phase had formed during the anneal.

Jan 1, 1939

By Wells A. Hutchins

Water laws important to the mining industry are those which govern or affect the right to use water, to dispose of water after using it in mining or milling, and to discharge waste material into water-courses. They include statutes and court decisions having general applicability, as well as others that pertain specifically to mining. THE INDUSTRY'S CONTRIBUTION TO WESTERN WATER LAW Despite sharp differences of opinion, the water law the Spaniards brought to the Southwest appears to have included some form of appropriation of water. The Mormons, who settled in Utah in the mid-nineteenth century, also developed a system of appropriative water titles. But by far the most profound impact on western water law was made by the gold- seekers who flocked to the Sierra Nevada foothills of California after the discovery of gold in 1848. Much of the gold was extracted from the ground by hydraulic or placer mining, and so the-miners' rights to the use of water became fundamentally important. Since there was no organized government in the foothills and no laws other than those made by the miners, they helped themselves to the land, the gold, and the water needed to work their claims.' They established and enforced regulations governing the acquirement and holding of mining claims and their rights to the water they needed.'In 1879 Justice Field, former Chief Justice of the California Supreme Court, spoke for the U. S. Supreme Court in saying that the miners were "emphatically the law-makers, as respects mining, upon the public lands in the State.""

Jan 2, 1960

By Edgar F. Cruft

INTRODUCTION It is sometimes said that "mines are made, and not found." I rather doubt that the exploration geologist would be overly sympathetic to that statement, and, of course, like most one-liners it is only partly true. Access to different financial markets are important at the mineral prospect stage. The modern mine financier has a much more complex, and interesting, job than the financiers of an earlier era, for example, the Canadian financiers of the 40's and 50's who had one simple set of options; i.e. float a company, promote it, and sell an equity stock issue, and then promote it some more. QUALITIES OF A FINANCIER Because technical people are seldom taught financing in their basic training, and because they are usually not involved in it until at quite a senior level in their careers, the whole field often acquires a certain mystique. The engineering professions have too often believed financing is the province of the accountant or financial executive and just as we in the technical world are often too quick to bristle if the latter try to tread on our domain, the opposite can just as easily be true. Unfortunately, this is another example of a compartmentalized individual, and that is one thing the successful financier cannot be. However, to be a successful financier one does not need extensive training or experience in accounting or finance. In fact it can sometimes be a disadvantage to get too buried in working only from the standpoint of discounted cash-flow analyses, ROI's, etc. It must be stressed, however, that one had better know how these analyses are made, and be knowledgeable in understanding a balance sheet, and have a good understanding of financial terminology. The difference between a simple project-type debt financing with a commercial bank and a more inventive and creative financial package comes from an intuition and an experience relating to risk-reward factors. The most important element is "common-sense", based on knowledge and experience. The goal is structure a financial package that fits the project, and in so doing it is important to recognize that it must fit within the limitations of the group supplying the money. I find insensitivity to recognize these constraints the most common mistake made in the field. Put yourself in the other person's place and understand his sources of funds and financing limitations. The engineer has an advantage in financing, as he or she has (or should have) a better idea than anyone of the value of the product, be it the mine, prospect, or company i.e. the intangible or potential worth which cannot be put on a pro-forma. He also knows, or should know, the risks involved. Two projects might look the same on paper, but a good financier must have a sense of when to take whatever deal he can get, and when to hold out based on his evaluation of future developments. It is essential to have a good sense of commodity values and trends, trends affecting the general economy (money supply, interest rates, effects of energy costs, etc.), and political considerations. He must also have a good understanding of the science and art of taxation as deals can often be financed using the government as a silent and unwitting partner by proper use of the tax laws. WHEN TO SEEK FINANCE The first critical decision to make in financing a mineral prospect is "when". At the exploration level, when it is only a dream in the geologist's eye, the alternatives are more limited than when it is a fully-engineered project. The "when" decision depends on how much in internal funds the company has to play with, and how desirable it is to invite financial participation to spread the risk. Assuming that decision is not taken out of lack of money, no one can categorically say when to do it. There is

Jan 1, 1985

By G. E. Keller, G. D. Coe

Several methods have been devised for rapid determination of sulfur in coal using a high-temperature combustion furnace. The fundamental principles of the various methods are similar but the techniques vary widely. The method described herein is no different in principle from some of its predecessors but varies considerably in technique. Originally devised to overcome the low-accuracy criticism leveled against the others, the tube-furnace method has proved successful for limited applications. Work is being done to widen the applicability of the technique. Subsequent to the work of A. Vita1 in 1920, a number of investigators have published data dealing with the rapid determination of sulfur in coal using a high-temperature combustion furnace.2-5 These, together with several unpublished methods, involve wide differences in technique although they are all similar in principle. Investigation of typical details of procedure showed that poor precision or accuracy could be attributed to one or more of the following: 1) inadequate quantity of sample to be representative, 2) a delivery tube temperature too low to confine condensation to a washable area of the tube, 3) no provision for back washing the delivery tube, 4) incomplete absorption of the sulfur compounds due to inadequate bubbler, and 5) the false assumption that all of the sulfur is evolved as sulfur dixoide. The method herein discussed is no different in principle from some of its predecessors; the differences are in technique. Although the method is rapid—a determination can be completed in 5 min— accuracy has riot been sacrificed in order to achieve speed. MATERIALS AND EXPERIMENTAL WORK Fig. 1 shows the arrangement of the equipment. A metered volume of oxygen is passed through calcium chloride for removal of moisture, then through Ascarite for removal of carbon dioxide, and thence through a glass tee to the feed end of the combustion tube. Connected to the side arm of the glass tee is a rubber tube that is closed with a pinch clamp during combustion of a sample. The products of combustion are expelled through a Vycor bubbler, the end of which is submerged 3 cm below the surface of a 1 pct hydrogen peroxide solution contained in a 300 ml high-form beaker. At the completion of the 4-min combustion period the contents of the beaker are titrated to a yellow end point, using a methyl red indicator, with 0.05 N sodium hydroxide (or sodium tetraborate). The pinch clamp on the tube leading from the tee in the oxygen line is then opened and mouth suction applied to draw the hydrogen peroxide up into the bubbler past the ell, almost to the rubber tube connecting the bubbler to the combustion tube. This washing of the bubbler is repeated until no further acid reaction with the indicator is obtained. The hydrogen peroxide-sul-furic acid solution is then titrated to the final yellow end point. Test work conducted at the Robena Laboratory disclosed the following critical conditions that had important bearing on the precision of the method: Weight of Sample: Several series of tests wherein the sample weight ranged from 0.1 to 0.5 g of -60 mesh coal showed that the lowest variance (standard deviation squared) resulted from the use of 0.5-g samples; the variance was slightly greater when 0.3-g samples were used, and with less than a 0.3-g sample weight the variance increased rapidly with decrease in weight. Although the use of a 0.5-g sample invariably resulted in a very slight explosion as soon as the sample entered the hot zone of the combustion tube, this did not detract from the precision of the method. Temperatures: Mott and Wilkinson5 found that a combination of low temperature (1250°C) and low oxygen flow rate (less than 700 ml per min) tended to give high results due to formation of oxides of nitrogen. Although the method herein employs a much higher oxygen rate than 700 ml per min, as an additional precaution to assure accurate results, 1315°C (2400° F) is recommended as the most desirable furnace temperature. The temperature of the elbow of the bubbler should be at least 75°C to minimize condensation

Jan 1, 1961

By Roland D. Parks

Corundum, little publicized as an industrial abrasive, has, in its small way, contributed greatly to the production of many specialized items vital to our war program and to Our allies. Optical elements Of the highest quality for range finders, bombsights, and scientific instruments; precision metal parts for torpedoes and airplane engines; quartz crystal plates for military radios; armorplate and malleable castings for tanks and guns; and eyeglasses for everyone; these are some Of the products that corundum has helped to produce in the quantities needed and on time. Unlike metals and many other raw materials, corundum is not incorporated into any Of these finished products. It is simply a grinding medium used to produce the desired finish or precision; an operating supply or tool, so to speak. With a Mobs' scale index of 9, corundum ranks next to the diamond in hardness among the natural minerals and is superior to emery and garnet. The gem varieties of corundum, including the Oriental ruby and sapphire, are frequently more highly prized as jewels than the diamond. It is the intent Of this paper to deal Only with a description of the corundum industry, the administration of wartime control, and certain economic aspects as seen by the author. Several references are listed to assist anyone who wishes further information on the geological occurrence of the mineral. Ore Production and Consumption For the past two decades, south Africa has been the world's sole producer of corundum ore. A possible exception is Russia, where, it is understood, there was considerable production during the thirties for domestic consumption but for which statistics are lacking. The United States is the world's principal consumer of corundum ore; imports lor the period 1934 through 1940 averaging 3000 Short tons per year, The years 1935 and 1936 were close to the 5000-ton mark, and imports during 1941, the last prewar year for which statistics have been released, were approximately 6000 Short tons. Again lacking statistics on Russia, the United Kingdom ranks second, but far below the United States in consumption of ore. Historically, corundum has been found in some 35 countries throughout the world, but the principal deposits are in South Africa, Canada, Madagascar, Russia and the united States. Deposits are generally small and subject to rapid exhaustion. Thus, the United States was the principal world producer for the period 1870 to 1900, when operations ceased except for two years during World War I. India was a producer of ore from 1898 through 1921, with peak output in 1916 through 1918 Canada came into production in 1901 with substantial output of ore and finished grain until 1914; the production thereafter was smaller until 1921. Madagascar has produced ore since 1910 but has had important output in only a few scattered years. South African production started in 1912

Jan 1, 1948

By Roland D. Parks

Corundum, little publicized as an industrial abrasive, has, in its small way, contributed greatly to the production of many specialized items vital to our war program and to Our allies. Optical elements Of the highest quality for range finders, bombsights, and scientific instruments; precision metal parts for torpedoes and airplane engines; quartz crystal plates for military radios; armorplate and malleable castings for tanks and guns; and eyeglasses for everyone; these are some Of the products that corundum has helped to produce in the quantities needed and on time. Unlike metals and many other raw materials, corundum is not incorporated into any Of these finished products. It is simply a grinding medium used to produce the desired finish or precision; an operating supply or tool, so to speak. With a Mobs' scale index of 9, corundum ranks next to the diamond in hardness among the natural minerals and is superior to emery and garnet. The gem varieties of corundum, including the Oriental ruby and sapphire, are frequently more highly prized as jewels than the diamond. It is the intent Of this paper to deal Only with a description of the corundum industry, the administration of wartime control, and certain economic aspects as seen by the author. Several references are listed to assist anyone who wishes further information on the geological occurrence of the mineral. Ore Production and Consumption For the past two decades, south Africa has been the world's sole producer of corundum ore. A possible exception is Russia, where, it is understood, there was considerable production during the thirties for domestic consumption but for which statistics are lacking. The United States is the world's principal consumer of corundum ore; imports lor the period 1934 through 1940 averaging 3000 Short tons per year, The years 1935 and 1936 were close to the 5000-ton mark, and imports during 1941, the last prewar year for which statistics have been released, were approximately 6000 Short tons. Again lacking statistics on Russia, the United Kingdom ranks second, but far below the United States in consumption of ore. Historically, corundum has been found in some 35 countries throughout the world, but the principal deposits are in South Africa, Canada, Madagascar, Russia and the united States. Deposits are generally small and subject to rapid exhaustion. Thus, the United States was the principal world producer for the period 1870 to 1900, when operations ceased except for two years during World War I. India was a producer of ore from 1898 through 1921, with peak output in 1916 through 1918 Canada came into production in 1901 with substantial output of ore and finished grain until 1914; the production thereafter was smaller until 1921. Madagascar has produced ore since 1910 but has had important output in only a few scattered years. South African production started in 1912

Jan 1, 1948

By Philip W. Guild

Approaching exhaustion of areas where traditional prospecting methods can pay off and sharply rising costs require increasing sophistication in planning exploration. Most outcrops, not only of ore and gossan but also of obvious zones of alteration, have been examined; many of the anomalies readily detectable by geophysical means have been drilled; geochemical surveys now cover extensive tracts. How should the explorationist proceed to find the ores that will keep his company in business and supply the world with the energy and raw materials it needs? Two courses are open to him: (1) saturation coverage by geology, geophysics, geochemistry, and drilling in the expectation that something will turn up or (2) critical analysis of the factors responsible for the concentration of valuable minerals in the earth's crust. The successful explorationist applies both methods to the limit of his resources. The second course, analysis of geologic factors, also comprises two principal lines of research: (1) ever more detailed study of the chemistry (including isotopic analysis) of the ore and gangue minerals of known deposits in an effort to understand how they were formed and (2) increasingly detailed mapping of their environment to determine the reasons for their localization. Again, both are very necessary.

Jan 1, 1971

By John J. Howard

WE are approaching the depletion of our principal source of iron ore-the Great Lakes deposits, which have provided 85% of the nation's requirements for the past fifty years. This situation presents a threat to our standard of living and our position as a world power. Fortunately, in the Great Lakes region there are still tremendous quantities of potential iron ore in the form of the low iron, high silica rock called taconite. The economical extraction of iron from taconite will insure our future steel supply if no new deposits available to the United States even in time of war are discovered. In the new process presented here, the iron is reduced directly by a simple method and then separated from the silica. The product is "feed," not to the blast furnace, but to the steel plant. This process requires very much less plant, less physical and chemical treatment, and less fuel and auxiliary materials than the conventional ore concentration-blast furnace method. In my opinion, this new, fundamentally different approach offers a better hope for the solution of the iron ore problem.

Jan 5, 1950

By A. Tobey Yu

Despite its inherent low Btu content, western coal's low sulfur content may provide a near-ideal answer to satisfy US goals for clean air and energy self-sufficiency. Vast reserves, amenable to low-cost strip mining, serve as a powerful economic basis for its viability as a primary and dependable source of energy for the coming decades. A major consideration, the solution of which may not be obvious, is the transportation cost. These deposits are remote from the utilities of the heavily populated eastern regions of the US (Fig. 1). A coal mine in Montana is likely to be more than 1500 miles from its utility market, while an eastern coal mine may be situated only 200 miles away. Thus, the question raised is: how can the haulage cost of western coal be substantially reduced to an acceptable level?

Jan 7, 1975

On July 25, the first copper ore From American Smelting & Refining Co.'s Mission open pit nine was sent into the new 15,000-tpd concentrator : three clays later, the first rail cars containing the Mission concentrate were sent north to the smelter at Hayden, Ariz. Thus two y,ears after stripping was started, Asarco's new mine, located south of Tucson. went on stream several months ahead of schedule. The plant, designed and constructed by Western Knapp Engineering Co., is expected to be operating at full capacity about September 1. with present plans calling for the copper concentrate from Mission to be shipped to Asarco's smelters at Hayden and El Paso.

Jan 9, 1961

By Ray W. Ballmer, K. H. Matheson

Since start-up in 1906, Bingham had been a rail pit, beginning with steam locomotives and converting to electric locomotives in 1923. Ore production was maintained by effective utilization of avail- able rail equipment. From time to time, as it became necessary to deepen the pit and as stripping ratios increased, studies of alternative material haulage systems such as diesel locomotives, conveyor belts and trucks were made. Conversion from rail haulage with electric locomotives could not, however, be justified. Because of a gradual decline in ore grade, a program was approved in 1963 to raise ore production to 108,000 tpd. The decision posed a serious problem: due to built-in inflexibility and other limitations, a parallel expansion of the rail haulage system was impractical. (Track and trolley wire relocation causes greater shovel downtime than required for normal maintenance; instability of the dumps and the resulting additional track maintenance increases greatly as the daily volume of waste material increases.) Studies indicated that economically the most favorable course of action would be the replacement of rail haulage on the upper levels of the mine by truck haulage.

Jan 11, 1965

It took the US coal industry 55 years to increase domestic coal production by about 11%-from 568 million tpy in 1920 to today's level of about 630 million tpy. With such a growth record, it would take a few hundred years to double coal production. FEA planners think that it can be doubled in 10 years. "With all the obstacles continuously imposed on coal, the industry's real problem is not growth but survival," says Ray Albrechtsen, board chairman of Mountain States Resources Corp., and "we should consider ourselves lucky if, by 1985, the coal industry won't have been legislated and regulated out of existence."

Jan 5, 1975

By Philip Henry

THERE is a difference of opinion among engineers on the subject of depreciation in general, and still more on its application to any given case. The committee which was appointed by the American Society of Civil Engineers to make a report on Valuation of Public Utilities, states "There is no subject connected with valuation about which there are more diverse views than those relating to depreciation;" and in the discussion which took place upon the presentation of the preliminary report of this committee in January, 1914, that part of the report dealing with depreciation called forth more discussion than any other. From this discussion it was evident that the word " depreciation" was not always used in the same sense, so it is quite important that some definition be adopted. As this paper relates to the proper method of treating depreciation by corporations or individuals operating oil properties, both of which must make a return of annual net income to the government in connection with the income tax, it will be in order to adopt the definition of the Internal Revenue Bureau. Under date of Mar. 29, 1910, the Commissioner of Internal Revenue of the Treasury Department stated "Deduction on account of depreciation of property must be based on lifetime of property, its cost, value and use." Again, on Form 1035, "Return of Annual Net Income" for miscellaneous corporations (Section 2, Act of Congress approved Oct. 3, 1913), a deduction from gross income is allowed for "Total amount of depreciation for the year." This item is defined more particularly as follows: "The amount claimed under Item No. 5 (b) for depreciation should be such an amount as measures the loss which the corporation actually sustains during the year in the value of buildings, machinery, and such other property as is subject to depreciation on account of wear and tear, exhaustion, or obsolescence. The amount taken credit for on this account in order to be allowable should be so entered on the books as to constitute a liability against the assets of the corporation. The amount claimed under this item should not cover losses in the value of stocks and bonds. Decrease in the book value of securities owned, so far as such decrease represents a decline in the actual value of such securities, should be deducted under item 5 (a) of the return.

Jan 1, 1915

By AIME AIME

FOLLOWING careful study of the relations of the Institute to students and the younger members of the profession, the Membership Committee recommended to the Board a change of plans abolishing the Junior Associate class of membership, substituting a -Junior membership and providing for Student Associates. The Board adopted this report at its meeting on Nov. 23, and asked Counsel to draft the necessary amendments to the By-laws, and gave formal notice of intentions to amend as provided in Section I, Article XI1 of the existing By-laws. The By-laws as it is proposed to amend Article I, 11, 111, IV, X, and XI follow. The new plan requires no changes in the other Articles. The matter will come before the Board for vote on Jan. 25.

Jan 1, 1929

By J. A. Benell

DIOXIDE of silicon, commonly called silica, is one of the greatest single constituents of modern in-dustry. It is brought most clearly to the mind when we consider the various kinds of sand and their rela-tion to industry. The major portion of.all sand is silica, and should be its principal component part in building materials. As an abrasive for cutting, polish-ing and sand-blasting, sand serves a vital purpose in many industries. Even lumber is now being sand-blasted, to cut away the softer grains of wood, leaving the harder grains in relief. The result not only in-creases the beauty of the wood, but adds to it an ap-pearance of antiquity. The common uses of silica in industry may be classified about as follows: Chemical industries-filtering medium; manufacture of carborundum; manufacture of water-glass. Paint-inert extender. Mineral fillers-wood filler; filler in rubber, hard rubber, pressed and molded goods, phonograph records.

Jan 5, 1928

By J. Leslie Goodier

The International Law of the Continental Shelf, so far ratified by 35 nations, extends the national boundary of any coastal nation to the edge of the continental shelf, this normally being at a continuous water depth of 200 m. The Law further extends this boundary to include the floor of the deep ocean to any depth that can be mined by advanced mining technology. In effect, proof of mining can constitute proof of ownership of the subaqueous land and the minerals on or below the sea floor. Irrespective of the fact that present technology is too limited to permit mineral exploitation in the high seas-and the law regarding the right to mine appears hazy-the U. S. Treasury Department's Bureau of Customs, has a ruling that would further deter mining operations on the high seas. This law contends that minerals mined on the continental shelf of the United States are actually mined within the continental United States and are free of tariff, but mined products or other articles obtained from the ocean or the sea floor beyond the continental shelf, if brought into this nation, must be considered as imported and are subject to such customs duties as are applicable under the tariff schedules of the United States.

Jan 7, 1968