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By R. C. Philp, Allan Gibb

INTRODUCTION. THE term matte is applied to smelting-products so extremely diverse in composition and physical properties that it appears impossible to devise any generic formula to represent, chemically, the manner in which the varied proportions of the almost unlimited possible constituents combine with each other. Mattes produced in copper-smelting, in distinction from those produced in smelting-operations in which the recovery of copper is secondary to that of other metals, cover a narrower range in composition. The copper-content of such mattes vary from 20 to 80 per cent., and even this range is much smaller in general practice since it is found advantageous, when possible, to produce mattes with about. 50 per cent. of copper in the first operation. Further, it is unusual that arsenic or antimony occurs in copper-ores in sufficient proportions to form arsenides or antimonides in such quantities that they will separate out from the furnace-products, as is common in lead-smelting. Generally, the mattes produced in copper-smelting are composed mainly of copper (usually greater than 35 per cent.), iron and sulphur, the remaining elements being usually in proportions sufficiently small to allow of their treatment as impurities, rather than as essential constituents of the mattes. In modern practice of smelting copper-ores in blast-furnaces the tendency is to approach pyritic smelting as nearly as pos¬sible, the furnaces being low and the air supplied being largely in excess of that required for complete combustion of the carbonaceous fuel. Hence the atmosphere of the blast-furnace thus used is usually oxidizing or Dearly neutral? and, as a consequence, the reduction of metallic iron that was a necessary evil of former practice is of unusual occurrence in operations where the main object is the recovery of copper. Hearth-accre-

Nov 1, 1905

By Ernest Gayford

When the United States Government started buying gold at varying prices per ounce, set by the President and the Treasury Department, the gold miner found himself facing new conditions, as gold became a commodity with a fluctuating market price. While it was self-evident that the miner was to receive more for his gold than the old established price of $20.67 per ounce, there was an element of uncertainty, which made it difficult, and perhaps dangerous, to decide to invest his time and money to produce gold, especially if the profit would represent only the difference between $20.67 an ounce and the new price as set from day to day by the Government. When, however, on Jan. 30, 1934, the United States went off the gold standard, the price of newly mined gold being rather definitely set at $35 per ounce, with some assurance that the price would be maintained at or near this figure for a long time to come, the gold miner was justified in revaluing his property on the basis of the new price, and the prospector was offered inducement to spend his time and energies hunting for new mines, or going back to old locations previously abandoned as of doubtful value. It is interesting to see what this new price means to the producer of newly mined gold, and how much of the increase is passed on to the producer. It will be found that, as with the base metals, the nearer he can get to producing a finished product himself the greater his reward will be; the net returns for bullion being necessarily higher than for the same amount of gold shipped in concentrates to the smelter. Bullion can be shipped to the United States mints or Government assay offices under the following terms and conditions. An affidavit must accompany the shipment, stating, among other things: 1. The source of the gold; whether ore, tailings or placer. 2. The tons of ore, tailings or cubic yards of gravel from which the shipment was recovered.

Jan 1, 1935

By Don C. Blackmar

THE production of non-ferrous secondary metals has become a large and important industry in the United States, and deals with practically every type of manufacturing concern. Its business is unique in that it generally buys from its customers as well as sells to them, whether they are individuals, cities, corporations, or the United States government. Its operations are of vital importance to the success and prosperity of many of the nation's most important manufacturers; yet there are few industries about which less is generally known by those outside it, whether concerning the magnitude of its operations or the details of its actual technique. The industry itself is to blame for this meager publicity, because its technical men have made few attempts to openly exchange ideas, in spite of the excellent examples set by the iron and steel or the copper and brass industries. Whether this is due to the ancient shroud of secrecy generally supposed to cover smelting operations, or because its technical men actually felt that the industry was too puny to be interesting, is hard to say. This paper will consider its subject in a general way, attempting to show something of the size and importance of the industry, as well as its fitness to do its work well. Attention will be called to the sound economic reasons for the handling of non-ferrous wastes by specialists, and to the often unseen losses of metals and labor which occur when manufacturers reclaim their own metallic wastes. MAGNITUDE OF THE MODERN INDUSTRY No particular thought is given to the kitchen accident whereby a ruined saucepan is sorrowfully tossed into the ash can, yet it is a fairly safe guess that within a month this saucepan, together with hundreds of its fellows, will again be in service, perhaps in an automobile crankcase, or in an electric vacuum sweeper. It is by this conversion of the useless into the useful, whether from home or large manufacturer, that the secondary tonnage is built up.

Jan 1, 1928

By Frances Hurd

WHEN 60:40 brass is heated to 825° C., given a drastic quench to obtain the beta solid solution, and reheated, various changes take place in the structure. Reheating at 200' C. causes a fine, granular, sorbitic structure to appear which has been considered alpha solid solution. These particles coalesce at higher temperatures of reheating, and at 470° C., the alpha forms twins. A further study of these transformations was considered worth investigating.

Jan 1, 1927

By Frederick Görannsen

McDuffie county, once a part of Columbia county, lies in the eastern part of central Georgia, about 20 miles west of the Savannah river, and bounded on the northtwest by Little river. Wrightsboro, now almost forgotten, was one of the principal towns of Georgia before the Revolutionary war, and much of the land hereafter described as belonging to one of the principal gold-bearing sections of the South had been taken up by the early agricultural settlers, and was already under cultivation. Indeed, some of the present mining companies can trace their chain of title back to the original grant of King George III., made in 1771. The first discovery of gold in Georgia, however, was not made until 1823, when two English miners, who had emigrated to this country and were traveling as peddlers through this section, discovered quartz, rich in gold, on what is now known as " the 40-acre lot," and owned by the Columbia Mining Go. These men had no money to buy the lands, and not being able to stake off a claim and begin work, as is the custom in other places, they were forced to seek the aid of the native farmers. In this we are told that they were for a long time unsuccessful; the farmers and land-owners not knowing or caring anything about gold mining. In 1826, Jeremiah Griffin, a wealthy farmer, became interested with them, and they did some prospecting and located several rich veins. Mr. Griffin soon became enthusiastic, and bought about three thousand acres of supposed gold-lands, lying along Little river.. This purchase was unfortunate for the mining industry, as it effectually shut out all other prospectors, and confined entirely to Mr. Griffin and his associates the mining development of the whole region. As a consequence, the ground was never covered, arid there are virgin lands in this section now, which offer to the prospector as

Jan 1, 1903

By Thomas T. Read

The purpose of the following research, as originally planned, was to investigate the influence of temperature upon the plate¬amalgamation process. In order to consider the amalgamation process intelligently, it was first necessary to learn the nature of an amalgam. In the performance of this task it was found necessary to consult a large volume of literature and to perform experimental investigations. The conceptions of the nature of amalgams thus obtained have so important a bearing on the amalgamation-process as a whole, as well as upon the possible influences of temperature, that it was advisable to include them in the treatment of the subject. The broader title is therefore used, even though some features of the amalgamation process have been treated very briefly and others entirely omitted, there being nothing new to present regarding them and their development not required for a clear presentation of the matter in hand. I. HISTORICAL INTRODUCTION. Gold was one of the earliest metals known to man. Occurring in the metallic state, it could be picked up in nuggets or washed, as gold dust, front the sand and gravel of streams. Interesting descriptions of the processes employed in early times for the recovery of gold may be found in Pliny's Natural History and in the treatise by Agricola on ores and minerals. But little progress in the treatment of the ores of gold was possible until efficient -crushing machines were devised. This want was supplied by the introduction, about the beginning of the sixteenth century, of the stamp mill to treat the ores of Saxony. Blanket strikes, or similar devices, were used to catch the

May 1, 1906

By H. K. Birnbaum

The termination of a twin lamella in the interior of a crystal requires accommodation of the strains at the tip of the twin which result from coherency of the twin and matrix. In zinc and magnesium crystals,

Jan 1, 1960

New York State Museum, Albany, N. Y. D H. Newland, State Geologist. A complete list of publications or the latest lists of available publications will be sent upon application. A series of Bulletins on The Mining and Quarry Industry of New York are available as follows: Bulletin 51 (1910), 15 cents; 161 (1911), 20 cents; 166 (1912), 20 cents, 174 (1913), 20 cents; 190 (1915), 15 cents; 277 (1925-26), 50 cents; 295 (1927-1929), 40 cents. Another series discusses the Geology of the State by Quad¬rangles, available as follows: Bulletin 153, Broadalbin Quad (1911), 25 cents; 154, Sche¬nectady Quad. (1911), 20 cents, 170, North Creek Quad . (1914)

Jan 1, 1933

By H. H. Power

THE PETROLEUM DIVISION of the A.I.M.E. continued with its diversified activities during 1.935. Sessions at the New York meeting in February were devoted to production engineering, domestic and foreign oil production, and petroleum economics. The symposiums on domestic and foreign production proved their increased usefulness. The data accumulated for 1935 were added to those published during prior years in "Petroleum Development and Technology." A joint session on the use of metals in the petroleum industry was held by the Institute of Metals, Iron and Steel, and Petroleum Divisions. W. S. Farish, chairman of the board of the Standard Oil Co. (N. J.), was the principal speaker at the annual dinner. The October meeting, held in Hous¬ton, was characterized by an excellent program and large attendance. Four sessions were devoted to problems in estimating reserves, reservoir energy, properties of drilling muds, electrical logging, water flooding, and other subsurface studies. Foreign representatives of the Anglo-Persian Oil Co. presented a paper on surface tension and specific gravity of crude oil under reservoir conditions. The address by President Buehler, the dinner at San Jacinto Inn, a trip to various lo

Jan 1, 1936

By Kenric C. Owen

INTRODUCTION Situated 23 miles east of Pretoria the Premier Mine started diamond production in 1903. Two years later it produced the largest diamond yet discovered, the 3 106 carat Cullinan stone. For the period to 1932 when the mine was closed down due to economic circumstances, open cast mining was practised using inclined rope haulage traction and by this time had produced 48.5 million carats of predominantly industrial quality diamonds from 148 million tons of ore. In 1945 it was decided to re-open the mine using underground mining methods. A system using long hole benching was devised (Hodgson and Sewel 1960). This system was later modified but still forms the basis for approximately fifty percent of production. Following the successful introduction of block caving on associated diamond mines in the Kimberley area (Gallagher and Loftus 1960) this mining method was introduced to the Premier Mine in the late 60's and now accounts for nearly 50% of production. This paper will discuss block caving at Premier Mine in the light of our experience and discussion will be directed to the main geological and structural features of the orebody and host rocks and the related constraints imposed on the mining methods. Reference is made to the long hole benching mining method for comparative purposes. GENERAL DESCRIPTION OF OPERATIONS The ore from the block caving and bench mining areas gravitates via ore passes to a twin haulage, 500m below surface. Electric 13 tonne locomotives, each hauling a train of 10 Granby type cars, deliver the ore to two 42" x 48" (1.06m x 1.22m) jaw crushers. The ore is reduced in size to minus 0.15m before being hoisted to the treatment plant on surface. Hoisting is done with 12.5 tonne bottom discharge skips in a five compartment rectangular shaft using two 3 240 H.P. semi automatic Ward Leonard winders. A small single drum service winder operates in the other compartment. Men and materials travel in a separate shaft in a 5,4m x 2,8m cage operated by a Koepi winder. These two shafts are also the main intake airways to the mine. The two main extraction fans capable of 250 m3/s at 3,2 kPa are situated on surface and are connected to the underground workings by an incline and a network of air passes and return airways. GEOLOGY Although there are numerous occurrences of kimberlite bodies in the district, the Premier Mine kimberlite pipe is the only economic orebody. It is roughly oval in shape with surface dimensions of 900m on the long axis and 450monthe short axis. The surface area is 320 000 m2. The kimberlite has intruded a massive body of felsite and norite which is intersected by a number of faults. The contact between the kimberlite and host rock is clear cut and dips inward at an average angle of 80°. Cutting across the pipe and the country rock is a 75 metre thick gabbro sill, the top of which intersects the pipe below the 347m level and dips at 15' to the north west. The kimberlite has been metamorphosed a distance of some 20m both above and below the sill contacts. Age measurements on biotite from the gabbro date the sill as 1 115 million years, thereby providing a minimum age of the pipe. (Pre Cambrian). All other pipes in South Africa are of Cretaceous age (60 million years). A simplified geological plan and section of the Premier Mine orebody is shown in Figure 1. It is thought that the kimberlite intruded in at least three distinct phases. The kimberlites of these different phases can be distinguished most easily by their characteristic colour. BROWN KIMBERLITE. This is the oldest kimberlite and forms a crescent shape in plan on the south eastern side of the pipe. In depth it increases in relative area. Although the brown kimberlite carries the highest diamond grade in terms of carats per ton all the various kimberlites in the Premier pipe are economic to mine.

Jan 1, 1981

By D. H. Bacon

Nearly all men are too busy with their own affairs to keep informed of the progress in other lines. From time to time we read statistics showing the development in some industry that astonish us; but the feeling of surprise soon fades: to be followed by others that likewise pass away. A short resume of what has been done in one line may be of interest. Down to late in the fifties the ore-product of Lake Superior mas handled over a mule-tram-road to Marquette; now the Duluth, South Shore and Atlantic, the Chicago and Northwestern, the Wisconsin Central, the Duluth, Superior and Western, the Duluth, Mesabi and Northern, the Duluth and Iron Range and the Lake Superior and Ishpeming railroads serve the shippers. Down to nearly 1870 a 700-ton ship was an enormous craft, the loading of which required two days; the unloading being seldom accomplished in that time. In 1871 the largest ore-barge carried 1050 toils and made twelve trips per season. Now the cargoes reach 5000 tons, the loading requiring less than three hours, and the unloading ten hours. Now the mines cover more land than was familiar to even the " timber-cruiser " when the Jackson mine was opened. The annual shipments have grown from a few thousand to 10,000,000 tons, and the ability of the mines to produce is not taxed. Lake-freights are at one-eighth, and rail-freights at one-quarter, of early prices. The deeper waterways, commodious locks and large ships of to-day are in a greater measure due to the movement of ore than to any other cause. Great savings have been made in each detail of each department. The only item of cost that has not been lessened, I am glad to say, is the money paid to men. Wages, measured by what they will buy, are as high

Jan 1, 1898

The Iron and Steel Committee of the American Institute, of mining and Metallurgical Engineers held a joint session with the American Foundrymen's Association during the Annual Meeting of the Institute in February, 1928, for the purpose of discussing blast-furnace operations and the character of pig iron and castings. Dr. Richard Moldenke presided. H.. H. Sweetser, who was named on the program as the presiding officer of the session, was unable to be present, but sent a letter in which he said: " The meeting we had here last year and the meeting held in Chicago last June showed a desire on the part of blast-furnace men and users of pig iron to get the facts regarding the influence on castings made from pig iron produced in blast furnaces under varying conditions of temperature, mixture and local furnace operations. It has been my hope that at this Round Table we might he able to formulate a series of tests that, would give us the desired information. "Several independent blast-furnace investigations have. been, and still are being, carried on in different sections of the country. The furnaces investigated include a southern furnace, a middle-west furnace, a western furnace and a Chicago district furnace. The results so far show distinct characteristics for each of the four furnaces. It is possible that a furnace in the eastern part of the United States would be different from all the others. "It is hoped that a plan of action can be worked out at your meeting today whereby the IT. S. Bureau of Mines will be able, to carry on more extensive work in connection with the research departments of the different iron and steel companies and the big consumers of pig iron. "No one group can get all of the, information but if the different investigations can be coordinated it will he possible for us to (Iran. conclusions regarding the effects of varying conditions in blast-furnace practice on the pig iron produced and the castings made there from." DISCUSSION R. Moldenke, Watehung, N. J.—I was across the -water this summer and saw some of those interested in an investigation of this kind. 'I'hey told me that in Germany, where they had a joint committee of blast-furnace operators and foundry-

By F. L. Bosqui, A. D. Wilkinson

EVEN though the world has not been crying for more copper for the last three or four years there has been some important mill and smelter construction. Discovery and development of large new high-grade copper deposits in Africa has led to the construction of extensive reduction facilities there, prominent among which is the concentrator and smelter of the Rhokana Corporation at N'Kana. Northern Rhodesia. The 3000-ton concentrator adjoins the central shaft. A little over half a mile to the southeast, at an altitude of 40,010 ft., is the smelter, designed on the site by 1. H. Wynne. It is arranged primarily to treat N'Kana copper concentrates, but can also handle concentrates and direct-smelting ore from outside sources. Excavations were started late in 1930; concrete was first poured on Jan. 6. 1931; and the first blister cop¬per was cast on March 1.9, 1932, less than fifteen months later. During this period, which included several months of heavy tropical rains, some 10,000 cu. yd. of concrete was poured and 41000 tons of structural steel erected under the supervision of construction engineer, A. Ek, with a labor force of 60 to 30 Europeans and about 300 natives. The steelwork was fabricated by Head Wrightson & Co. in England, and the boiler plant equipment furnished and erected by the International Combustion Co. Ltd.

Jan 1, 1934

By Joe B. Alford

Jan 1, 1971

By Carle R. Hayward

This work was first undertaken in the metallurgical laboratory of the Massachusetts Institute of Technology in 1907 by L. A. Dickinson, E. Phelps, and V. S. Rood, under the author's direction. They attempted to determine the diagram for the system Cu2S-MiS, but several inexplicable results were obtained. The following year, P. H. Mayer with Mr. Dickinson carried on some experiments with nickel sulphide and found that the molten material slowly lost sulphur until it reached a composition corresponding to the compound Ni3S2, established by Bornemann.l At this point the composition remained stable. The freezing points of the mixtures gradually fell off with the loss of sulphur. Since the above facts seemed to explain the erratic results obtained in the first experiments, Mr. Mayer with F. Jaeger attempted in 1910 to establish a correct equilibrium diagram for the Cu2S-Ni3S2 series. They prepared pure Cu2S and Ni3S2 and determined the cooling curves for various mixtures. The fusions were made in a platinum resistance furnace and the temperatures were measured with a platinum-iridium thermocouple connected with a Sullivan galvanometer. The curve was established for mixtures containing more than 40 per cent. Cu2S, but they were unable to determine certainly the direction of the curve beyond that point. Nothing further was attempted with this series until the present year, when the work was carried to a successful conclusion with the assistance of A. Butts, Jr., and E. H. Weil. The results of this work are given in the following pages. Preparation of Cu2S.—A piece of cathode' copper from the Buffalo plant of the Calumet & Hecla Co. was cut into shavings by a shaper and converted into sulphide by heating in boiling sulphur. A porcelain casserole was used for the purpose, the heat being furnished by a Bunsen burner. It was found that after boiling in the sulphur for an hour the copper shavings were completely converted into sulphide. The liquid sulphur was then poured off, leaving the solid sulphide in the casserole in

Jan 1, 1915

By I. Havenaar

EXPERIMENTAL DATA In an article by C. K. Ferguson and J. A. Klotz,1 experiments on the filtration of drilling muds under borehole conditions are discussed. Experimental data on mud filtration through the wall and the bottom of the hole are presented. From the data on bottom-hole filtration it was concluded that the filtrate does not flow freely into the formation, but that the pores of the formation are plugged by the mud. A quantitative interpretation of the data can be civen, by using a formula for bottom-hole filtration, dehved below. This formula is based on the following assumptions, 1. Each time a blade of a drag bit, or a cone of a roller bit, moves along the bottom of the hole, the mud cake is completely removed. 3. A new mud cake is immediately formed on the freshly produced surface, and losses of "whole" mud into the formation are negligible (this is equivalent to an immediate plugging of the pores). 3. The filtration of the mud on the bottom of the hole follows the classic law: V = A +1—(Eq. I), where t is the time required to yield a volume of filtrate V, A is the surface area of filter cake, and C is a constant. The application of this equation means that any eroding effect of the mud stream on the mud cake is neglected. The formula for the calculation of the volume of filtrate, Q,, flowing in one second through the hole bottom (diam. d cm), when using a bit with n cones or blades rotating at a rate of rn revolutions per second, is derived as follows: The mud cake is formed on the bottom of the hole in the time t =1; the filtrate volume V which passes n through the bottom In this time 1s given by Eq. 1: After1/nmsec the mud cake is removed. In one m second this process takes place nm times. Therefore the volume of filtrate, obtained in one second is given by This equation has now been applied to the experiments of Ferguson and Klotz. The constants C were derived by means of Eq. 1 from the API filter losses of the muds used by the authors (t = 1,800 sec; A = 45.16cm2). A three-cone bit was used (n = 3) at 90 rpm (m = 1.5). The calculated figures are compared with the experimental data in the table below. The calculated values of Q, are usually lower than the experimental values. This may be due to the following causes. 1. The value of C used in the calculation is based on the API filter test (filtration pressure of 100 psi), whereas the experimental data were obtained with a filtration pressure of 200 psi. Although the effect of the pressure on C is not large, C decreases somewhat with increasing pressure, and this leads to a higher filtration rate. 2. Mud losses and the eroding action of the mud stream on the cake are not entirely negligible. 3. The values of Q, derived by Ferguson and Klotz from their experiments are too high, because of their assumption that all pore liquid within the formation drilled is picked up by the drilling mud. It is found, however, that the calculated values of Qf, except in the case of oil base muds, are of the right order of magnitude. ACKNOWLEDGMENT The author wishes to thank the management of the Koninklijke/Shell-Laboratorium, Amsterdam, for permission to publish this note.

Jan 1, 1957

By AIME AIME

ALL technical men who are planning to visit the Century of Progress Exposition in Chicago this summer-and all reports indicate that it will be worth visiting-should try to be there during Engineers' Week, beginning June 26. At that time most of the national engineering societies of the country will hold important meetings in that city. Engineers will thus have an opportunity not only to see the Fair at a time when special programs have been arranged for their benefit, but will have the opportunity to meet their professional brothers and to attend technical sessions of direct interest to them. The A.I.M.E. headquarters will be at the Stevens Hotel, and it will be to the interest of every Institute member who expects to attend the Fair at that time to secure his accommodations as promptly as possible. A request to the Chairman of the Chicago Section, A.I.M.E., or to the Secretary's office in New York, will bring a copy of the program as soon as it is available, together with any in- formation desired about hotel accommodations or other matters. The Chairman of the Chicago Section is J. R. Van Pelt, and his address is Museum of Science and Industry, 1525 East 53rd St., Chicago.

Jan 1, 1933

By Herty, C. H.

Present-day interest in the question of "dirty steel" has arisen primarily from the increasingly rigid specifications on various grades of steel and from the growing conviction that non-metallic inclusions are the source of many of the difficulties in meeting these specifications. The importance of inclusions has unquestionably been over-emphasized in many cases, but on the other hand many unpublished instances could be recorded where all evidence pointed to inclusions as the primary cause for the failure of steel in rolling or in service. The solution of the problem of dirty steel is not a matter of a few years. There are almost numberless types of inclusions. They segregate in steel ingots in an entirely different manner from other impurities, and, at best, only a start has been made in developing correct analytical methods for their determination. Most of the writers in the field have expressed opinions rather than given facts, and so many variables enter into the manufacture of steel that a study of plant conditions is difficult unless definite facts on certain phases of the inclusion problem are available. This statement is not intended to convey the idea that little work has been done on this problem. On the other hand, the number of investigations has been large, but in most cases too many variables have been present to allow definite conclusions to be drawn. In the body of the text, reference to previous investigations is made at suitable points. Rather than burden the reader with a lengthy review of the literature on the general subject of inclusions, reference to the particular works pertinent to the subject matter of the bulletin has been discussed. Three excellent bibliographies b on the subject have been lately published: one by the Committee on

Jan 1, 1957

By V. F. STANLEY

THERE is not the slightest doubt that the present recoveries of valuable minerals by the Broken Hill mills could be improved, and that further machinery would be installed for the purpose if it could be assured that a high price of metals would be maintained; but concentration, like all other com¬mercial propositions, is a question of profit and loss, and no sensible metallurgist would carry out his work in such a manner as to obtain high recoveries at a financial loss to his company. There is a point in all concentration at which the added money obtained from the higher recovery of minerals is balanced by the extra cost of obtaining the last part of the recovery; a wise metallurgist will be content with his work before his working-expenditure reaches this point. To a casual observer, the work being done by the various Broken Hill mills is identically the same. A closer investigation will show that this is far from being the case, for it is a remarkable fact that, although the larger mines extend over a length of approximately only 2 miles, such a difference in the physical and chemical properties of the ores exists that, from the first reduction downwards, special treatment is necessary in each case, and hardly any two mills are identical in operation. The details of this paper refer directly- to the work of one . particular mill in Broken Hill, for the reason that the ore from each mine presents special difficulties and requires its own special treatment. I have selected the mill referred to because it has been constructed and modified under my supervision.

Sep 1, 1909

By Arthur Notman

TO present some idea of the magnitude of the gold-mining industry of Canada and the world, the records of 106 gold-mining companies currently paying dividends have been studied. Forty of these are in Canada, and 37 on the Rand in South Africa, these being all the straight gold-mining companies that paid dividends in the two areas in 1938. None of the base-metal companies that produce gold as a by- product, or even as a major fraction of the value of their total product, have beezl included. In addition, a group of 29 similar companies from Southern Rhodesia and the Gold Coast in Africa, India, Australia, Manchuria, Philippine Islands, the

Jan 1, 1939