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By Henry M. Howe

MY attention has been drawn within a few days to a series of articles in Volume XVIII of the Engineering and Mining Journal, 1874, by Mr. J. A. Church, in which it is stated, among other

Jan 1, 1875

By Robert F. Mehl

THIS essay is an attempt to present the elementary facts and ideas concerning the growth of crystals, especially of metals. Freezing, like all heterogeneous processes, is a process of nucleation and growth; it manifests itself in metallurgy primarily in the freezing of ingots. The preceding paper in this volume discusses nucleation; the paper to follow describes ingot solidification. The present paper will treat of the growth of nuclei to large crystals, embracing a long series of phenomena, many of which are familiar to metallurgists.† Crystal growth, it will be immediately noted, occurs not only in the freezing of metals, but in the freezing of all substances; and it is a prominent and familiar phenomenon in crystallization from solutions, aqueous or otherwise, and in crystallization from the vapor phase. It will be necessary to include such systems in this discussion, for so much of value to metallurgists has been learned from their study. Apart from this, so far as metals are concerned, it will be simpler to limit the discussion to the freezing of pure metals and of solid solutions. Other types of freezing-eutectic, peritectic, etc.-will be excluded, though they have much of interest and of importance. BASIC MECHANISM OF FREEZING Ideally, nucleation and growth processes can best be considered from the point of view of isothermal reaction and upon the assumption of random nucleation. In. such an ideal case, nuclei form at random, and at a characteristic rate either constant or changing with time, and grow to spherulites at a characteristic rate, constant or changing with time, Fig. I.. On the simplest assumption, the reaction rate-in this case the rate of freezing-is a resultant of these two component rates. The reaction rate equation may be written in terms of these two component rates. The formation of pearlite from austenite closely approaches this ideal case. The ideal case forms a very useful point of departure in considering real cases. Various factors of reality produce deviations from this assumed ideality. In freezing, the isotropic medium, the melt, passes to the anisotropic solid, the crystal. Crystals are lattices of atoms, and the unit cell is often referred to as a crystal unit. Rosenhain, many years ago, represented the nucleation and growth process on freezing in the manner shown in Fig. 2, feeling, intuitively, that there must be some crystal unit in crystal growth. It now appears that this may be true, though his picture requires much elaboration. The greatest deviation from ideality lies in the nonisothermal nature of the freezing process in metals. To approach this properly it should be recalled that many nonmetallic substances freeze slowly. Tammann, to whom we owe the classic approach, studied complex organic materials in which (as in the case of eutectoid steels at high

Jan 1, 1951

AUGUST began with a reminder that warfare was still in progress in the world, in that the Greeks, still at war with Turkey, threatened Constantinople in spite of the small British and French forces of occupation and opened a vista of international dangers. There was in this, moreover, a recollection that religious questions in India had prevented the British from permitting a real settlement of the Turkish question, wherein the absence of Russia as a great power is missed. Civil warfare also continued in Ireland and China. Even in the military way the world is far from being at peace. Bloody fighting between the Fascisti (anti-communists) and the com-munists in Italy led to several provinces being put under martial law, but after a while these disturbances were quelled. In the latter part of the month the assassination of Michael Collins in Ireland produced a great shock. From China, however, there came rather favorable news, indicating the early reintegration of that country, which sooner or later ought to play an important part in world affairs. Economically, instead of there being any improve-ment, there grew a clearer perception of how bad things really are. Italian politics were in chaos through inability to find anyone to accept the premiership and assume the all but hopeless task of averting national bankruptcy. The French, too, began to see their own position in true colors, and especially to see how in reconstruction they had incurred debts on the strength of what they hoped to collect from Germany, with at last the understanding that the Germans could not pay and that France herself was thereby put in a desper-ate economic position. As for the Germans, them-selves their Reichsbank defaulted on ordinary bills early in August. As the month wore on the value of marks fell more and more and at the end it appeared that Germany was on the verge of economic collapse. On Aug. 7, another international conference (with America again absent) was assembled in London, this being the thirteenth since the war, and there was a general feeling that it would be the last. The prime question was what is to be done about the German reparations, but underlying was the whole subject of the entente. The conference opened like a meeting of importunate creditors, doubtful whether the debtor had any tangible assets. On Aug. 14 this conference broke up without coming to any useful conclusion. Indeed, the acrimony among the premiers was so sharp that even the entente between Great Britain and France was endangered. The international situation was saved only by the Reparations Commission excusing the Germans from the payment of 50,000,000 gold marks that come due on Aug. 15 But although the entente was nominally preserved there is no longer any illusion about the interests of Great Britain and France being different and that henceforth they will play their own hands. The London conference was really an effort to maintain the partnership, and it failed.

Jan 9, 1922

By George Rice

SINCE my earliest recollection, the coal business has been in a state of unrest. It has always been a matter of bewilderment to the serious thinking, the instability of this most important industry; second only to agriculture in its effect on the great development of this country, and even more important in certain aspects, because without fuel railroads could not run, agriculture could not get its products to market, nor would the great manufacturing enterprises have been possible. I will not attempt to discuss the present serious -labor dispute or similar disagreements of the past; in the settlement of which more or less successful attempts have been made to equalize, temporarily at least, natural conditions through "joint agreement" as to prices paid labor; but will confine my views to the general underlying conditions of which the disputes are symptoms, and try to show how these must be remedied before there can be any hope of stabilizing conditions.

Jan 5, 1922

By Thomas T., Read

THE education of adolescents to perform the duties and assume the responsibilities of maturity has been a characteristic of human society since the dawn of history. In the beginning the members of the immediate family performed this function, and in modern life they still have an important part in it. Possibly religion was the first field in which education began to be functional; young people were sent for instruction to a teacher who had a broader and deeper knowledge of the subject than was possessed by the family. It does not seem necessary for our purpose to attempt to determine how, when, or where instruction in the practical arts first' began to become functional, and the brief outline which follows must suffice. The discovery and utilization of mineral substances to improve and maintain the conditions of human living is a practical art, which must have had an almost accidental origin and have been developed by empirical experiments. We do not know, nor would it be useful to try to fancy, how men first learned that they could make use .of mineral substances to their benefit, but how- ever that knowledge was initially gained it was certainly trans mitted through instruction in the family. At first such activities must have been merely a .minor part of the making of a-living, but in time those who excelled found it better to devote them-

Jan 1, 1941

By H. R. MacMichael

IN the Chihuahua district of Mexico the first smelting was that inaugurated by the early Spaniards for the production of silver bullion. The ores treated were high in silver and lead. Silver-lead bullion was first produced and the lead then cupelled to waste, with the slag produced running from 5 to 10 per cent in lead and about 25 to 40 per cent silica. The ore was mined by peon labor, often being carried out of the mine on the backs of the men, and then transported by burros. Furnaces were of primitive construction, adobe or rock being used in the earlier period and some iron later when it became available. Blast was originally supplied by bellows manually operated. Such smelting was carried on to a greater or lesser extent until the latter part of the last century, and so extensive was it that many hundred thousand tons of leady slag remained to be treated in modern furnaces. In 1908 a smelter was placed in operation at Chihuahua by the American Smelting & Refining Co. At that time the ore was practically all oxidized and by a little selection, self-fluxing mixtures could be made, but with an average lead content usually under 10 per cent and sometimes as low as 7 per cent. The bullion produced would carry from 150 to 300 oz. silver per ton. The slag made approximated 30 per cent SiO2, 42 per cent FeO, 21 per cent CaO, and perhaps 3 per cent Zn. The ores varied from hard, coarse material which was passed through a crusher, to a considerable quantity of fines which had to be smelted as it came, as crushing the coarse was the only preparation for smelting.

Jan 1, 1933

By R. W. Raymond

ALEXANDER BRINTON COXE was born in Philadelphia, Pa., Jan. 19, 1838, the second of five sons of lion. Charles Sidney Core and Ann Maria Brinton. A more extended history of his family and its important relations to the development of the United States will be found in my Biographical Notice of his younger brother, Eckley B. Coxe, published in 1895. It is therefore sufficient to say here that Dr. Daniel Coxe, a distinguished physician and surgeon of London, and a medical attendant of Charles II and Queen Anne, purchased, in 1684 and 1686, lands in East and West Jersey from grantees of the Duke of York, and became Governor of West Jersey, in which capacity he did much to develop the provincial fisheries, the manufacture of marine salt and pottery, the exportation of tim¬ber and the West India trade. In 1698, having acquired the royal patent of the Province of " Carolana," covering (with some reservations) the territory extending from the Atlantic to the Pacific, between the 31st and 36th parallels of N. latitude, Gov. Cole sent an expedition from Charleston, S. C., to the Mississippi. In 1769, seventy years later, his grandchildren surrendered to the Crown their title under this vast and vague patent, receiving in return a grant of 100,000 acres in the Colony of New York. The line of his descendants, so far as they concern this sketch, is as follows 1. Col. Daniel Core, his son, b. 1673, who came to New Jersey in 1700; resided there until his death (1730); held many high offices; and issued in London (1722) A Description of the Provinces of Carolana, containing probably the earliest published plan of political union for the British Colonies in North America.

Sep 1, 1906

By R. F. Mehl, C. E. Birchenall

SINCE Maxwell1 first considered the self-diffusion process in 1872 its importance in the kinetic theory of matter has been recognized. Until the discovery of isotopes in 1913, a direct measurement of this quantity seemed impossible. The only information that could be gathered indirectly was for gaseous systems for which the kinetic theory was well developed. When methods of direct observation be-came available, investigations on self-diffusion were carried out in condensed phases. In metals these data are presumably of potential importance in the study of recovery, recrystallization, creep, sintering, and related phenomena. Following the pioneer work of Von Hevesy2 and his collaborators, who determined the rate of self-diffusion in lead with the naturally occurring thorium B isotope, several metals have been investigated. Pb, Ag³, Au.6,5, and Cu6,7,8,9 are examples of isotropic crystals existing in only one phase modification. Anisotropy of diffusion has been demonstrated in Bil6 and Znll. This paper is a study of a single metal in two allotropic forms and also of self-diffusion in a body-centered cubic lattice. Despite the fact that the measurements in each of the papers cited on self-diffusion in copper seem to be internally consistent to about 10 to 15 pet, the curves reported by different authors differ by factors of 2 to 4 at the same temperatures. This uncertainty may account, in part, for the failure to establish a successful correlation between the self-diffusion rates and other physical characteristics of the metals. No satisfactory theory of metallic self- diffusion has as yet been proposed to account for all the existing data and to permit estimation in other metals. Experimental Part: Two units of radioactive iron were used in these experiments, each a mixture of Fe53 and Fe59 (12). Fe53 decays by K electron capture and the emission of an X ray with a half life of about 4 years. Fe59 emits two beta spectra, one with a maximum energy of 0.26 Mev, the other 0.46 Mev, and gamma rays of 1.1 and 1.3 Mev, with a half life of about 44 days. They were present in nearly equal concentration initially. The composite half life started at about 50 days and increased as the Fe59 decayed, leaving Fe55 relatively more abundant. After aging a year, the half life was too long to measure significant decay in a month. The absorption properties also changed with time. Because of the importance of the absorption coefficient in the diffusion calculations, it was necessary to determine this quantity frequently over the period during which these experiments were carried out. This correction was unsuspected at the time of publication of notesl3 on this work and accounts for the discrepancy in alpha iron and for part of the discrepancy in gamma iron.* * The data in the present paper supersede those given in the notes entirely. In one note the scale of log D was inadvertently reversed. In addition to the correction for the drift in absorption coefficient, the D values for gamma iron at low temperatures were high owing to insuficient correction for diffusion occurring during heating and cooling through the high temperature part of the alpha range at a rate much slower than that employed in the runs reported here. The high temperature alpha rates are much higher than the low temperature gamma rates and correspond to large equivalent times at these temperatures. These experiments were discarded and new measurements taken. Independent experiments with the same activity units indicated a radioactive contaminant in the iron, but exhaustive attempts to isolate and identify it chemically failed. These experiments? indicate † These experiments will be discussed in a later publication from this laboratory. that the contaminant represented only a trace of little importance in the diffusion results. The active iron was plated from an iron chloride solution. Enough of the solution was dropped on a 1% in. square of filter paper to wet it thoroughly.

Jan 1, 1951

Although the meeting of the Institute in St. Louis Will not occur until September, 1917, the committee in charge is already making attractive plans, and we append hereto a tentative skeleton program which will give some notion of the opportunities that will be offered: St. Louis is situated in the midst of. a district which contains not only a great many interesting examples of mining, but also all types of industrial manufacture of interest to members of the Institute, and it affords abundant opportunities to visit and see these plants. Further announcement will be made from time to time as the committee's plans take more permanent shape. .

Jan 2, 1917

By V. Balasubarmanian, Rajendra Kumar

ISOTHERMAL formation of martensite in a copper-aluminum-nickel alloy was previously reported by Hull and Garwood.' In the present work an attempt has been made to investigate some of the character- istics of the formation of isothermal martensite in binary copper-aluminum alloys containing 14.00 and 14.50 pct Al, respectively. Chill-cast alloys were prepared from OFHC copper and aluminum of greater than 99.5 pct purity. They were homogenized for 24 hr at 950° C. Polished samples were soaked at 1000°C and quenched in water to retain the p phase untransformed; martensite did not form during the quench. The surface was then repolished for isothermal microscopic studies at room temperature. The salient features of the martensitic transformation in copper-aluminum alloys observed in this investigation are: a) The transformation progresses (i) by nuclea-tion at new sites and (ii) by simultaneous slow isothermal growth of existing martensite plates. Slow isothermal growth of martensite has previously been observed by Holden2 in an uranium-chromium alloy and by Hull and Garwood in copper-aluminum-nickel alloy. b) Martensite plates nucleate preferentially at the pin holes formed during the casting of the specimen, Fig. 1. c) Some of the martensite plates pass right through other plates lying in their path, Fig. 1. d) Martensite plates cross grain boundaries without any change in the direction of growth. e) An irregular network of markings, Fig. 2, appears simultaneously with the formation of martensite. It was less prominent in the case of 14.5 pct alloy. The markings may arise due to spontaneous deformation under the lattice strains of the martensitic transformation. Crossing of martensite plates was first observed by Kulin and cohen3 when a high-nickel steel was cooled to 77°K. They suggested that the rapidly advancing plates atquire considerable kinetic energy and strike the obstructing plate with a momentum so as to nucleate the process on the other side of the plate. This, however, fails to explain the present observation where the slow isothermally growing martensite plates cross each other. Such plates would not possess large momentum to bodily displace the obstructing plate. Fig. 1 shows the martensite plates crossing each other without body displacements. This should be contrasted with Fig. 3 of Kulin and Cohen's paper where crossing of plates is accompanied by shearing or body displacements of the plates. The present observations can, how-

Jan 1, 1961

By C. A. Pierce

STUDIES of roof and floor movement are of interest to those actively engaged in mining. This is especially true in the case of an entirely new area where there is no precedent for guidance. The potash deposit being mined is in the southeast corner of New Mexico, about 20 miles east of Carlsbad. The deposit was formed by the land-locked, shallow, Permian Sea that extended through parts of western Texas, Oklahoma, Kansas, southeastern Colorado, and eastern New Mexico. The saline deposits vary from 500 to 4000 ft. thick. Neither of the companies operating in this area has delimited its com-mercial ore bodies. As all production so far has been from Federal and State leases, the Department of the Interior and the State of New Mexico have a direct interest in the development and extraction of these ore horizons. The ore is composed of an intimate mechanical mixture of sylvite (potassium chloride) and halite (sodium chloride). It lies generally in a horizontal bed varying from 5 to 12 ft. in thickness, and has a cover of approximately 1000 ft., consisting of about 500 ft. of salt beds and 500 ft, of sediments. The immediate mine roof for several feet is principally salt with some potash and clayey material. The next 500 ft. above, from the standpoint of structure, may be considered rock salt with a few inter-bedded potash members. The upper 500 ft. is of sedimentary (Permian and Triassic) origin and contains several water-bearing formations with flows varying from 10 to 500 gal. per minute. This water intensifies the interest in convergence problems as the ore and surrounding for-mations are water soluble. Potash salt (sylvite) and rock salt (halite) are plastic minerals. Plasticity is defined as a "property of solids by virtue of which they hold their shape permanently under the action of small shearing stresses but are readily deformed, worked, or molded under larger stresses."1

Jan 1, 1938

By E. T. Hayes, A. H. Roberson, M. H. Davies

R. F. Dornagala and D. J. McPherson (Armour Research Foundation, Chicago)—I should like to compliment the authors for a workmanlike job in determining the partial phase diagram of a system comprised of two rnetals which are certainly not easy to work with. We are completing work at Armour Research Foundation on an Atomic Energy Commission-sponsored project for the determination of eight zirconium binary diagrams. Work on the Zr-Cr system has been completed and should be published within the next year. For our work, Westinghouse Grade 3 iodide crystal bar served as the zirconium melting stock. Johnson-Matthey, electrolytic chromium, specially treated for oxygen removal, was employed. The overall constitution of the system determined at Armour Research Foundation is in very good agreement with the present work. We found a eutectic at 18 pct Cr and 1280 °C, somewhat lower than the value reported. This temperature was confirmed by thermal analysis, incipient melting studies, and regular isothermal anneals. The eutectoid was located close to 1 pct Cr and 835°C by metallographic analysis of annealed specimens. Maximum solubility of chromium in /S zirconium was 4.5 pct at the eutectic temperature. Chromium solubility in a zirconium was less than 0.28 pct at all temperatures. We found the compound at 53 pct to melt around 1700°C, with an open maximum, but determined its crystal structure to be hexagonal close-packed (MgZn, type). The lattice parameters were in excellent agreement with those determined by Wallbaum in 1942. The diagrams are in substantial agreement, and .part of the differences are undoubtedly due to the use of different zirconium melting stock. M. K. McQuillan (Birmingham, England)—I read this paper with a great deal of interest, as it covered the same field as some work of my own.' There are a number of points in the present paper on which I would like to comment. First, I should say that I, too, used zirconium prepared by magnesium reduction of the tetrachloride and electrolytically prepared chromium, and melted the alloys in a Kroll-type arc furnace. The purity of my alloys should, therefore, be comparable with the purity of those of the present authors, and any differences in our observations would not be expected to be attributable to this cause. The differences between my observations and theirs concern the presence of the eutectic, the temperature of the eutectoid, and the melting point of the compound. I would be very much interested in any further evidence the authors may have for the occurrence of the eutectic at 1380°C. During the course of my work I noted that a number of my alloys containing 60 to 90 pct Zr melted at about 1400 °C, and for a time assumed that a eutectic occurred at this temperature as described in the paper. On further investigation, however, I found that the structures of the as-melted alloys could not be made to fit in with this interpretation of the system. If a eutectic exists in this region of the system it would be expected that the as-melted alloys would show the usual type of cast structure, i.e., dendrites of the compound plus eutectic. This, however, does not occur, as may be seen from Fig. 9. The compound seen there is not dendritic in form, and the remaining material is by no means certainly eutectic. It may be argued that a compound such as ZrCrl would not form dendrites but would tend to crystallize in geometric shapes. In this case, however, I have evidence to the contrary, as on the chromium side of the compound, where a eutectic occurs at about 1545"C, the compound formed from the liquid takes on a conventional dendritic form, and the eutectic is observed in the interdendritic spaces in the usual way. There is no reason to suppose that the compound would behave differently in an alloy lying on the zirconium side of the compound composition if a eutectic existed there too.

Jan 1, 1953

By J. J. Beeson

Fox the past fifty years or more, the structural features of the Cordilleran mountain system of western United States have presented some most interesting problems. Any geologist or engineer living in this region, or even making occasional examinations. of the mines, will lose much of interest and importance if he is not familiar with the literature. Some of the greatest works on geology have been the, result of studies carried on in sections of this region. Among the more important of the earlier works are those of Dutton,1. King,2 Gilbert,3 and Powell;4 of the more recent Lindgren,5 Ransome,6 Spurr,7 Butler,8 and others have contributed much. Many of the papers are largely of scientific interest but even these lay the foundation for the commercial application of the broader features of the geology. I have read many of these works with the keenest interest and pleasure; in fact, some have been read until some of the more important findings seem to be my own. In this paper, however, it is my aim to accept credit for little more than the labor of assembling some of the ideas of others. This is done with the hope that an interesting and valuable discussion will be the result. If some of the ideas presented should

Jan 9, 1925

By J. T. Lapsley, I. I. Cornet, A. E. Flanigan, R. Hultgren, J. E. Dorn

WITH the greatly expanding use of magnesium during the war, it appeared necessary to the War Metallurgy Committee that procedures of heat treating common magnesium casting alloys be investigated systematically. Accordingly, the National Defense Research Committee of the Office of Scientific Research and Development placed a research contract with the University of California, supervised by the War Metallurgy Committee. Research on the solution heat treatment and aging of magnesium alloy AZ92, (formerly ASTM No. 17; also known as Dowmetal C or AM260) which was done under "Restricted" Project NRC-21, in 1942-1943, and reported, in detail in a final report to the OSRD on September 3, 1943, is the basis of this paper, which has been released for publication by the OSRD. American experience with magnesium alloys prior to World War II was limited, although some of these alloys had been in commercial use since 1909. Requirements of the aircraft industry for light alloys made it imperative to understand and utilize the advantageous strength-weight properties of magnesium castings. Magnesium casting alloys are commonly solution heat treated to increase their ultimate tensile strength and ductility; this treatment may be followed by an age hardening at elevated temperatures, which raises the tensile yield strength but diminishes the ductility. In the present investigation, AZ92 was studied to determine the effects on properties of various solution heat treatment and aging schedules. The principles of heat treatment of magnesium alloys are the same as for other non-ferrous alloys. The alloy studied, AZ92, has a nominal composition of 9 pct aluminum, 2 pct zinc, and minor constituents. Fig I shows, by the projection of isothermal sections on the concentration plane, the solubility surface1 of the ternary magnesium-rich solid solutions as determined by X ray analysis. From this figure it may be seen that above approximately 375°C (707°F), AZ92 alloy is a single phase alloy at equilibrium; below this temperature the equilibrium condition is a. two phase alloy. The beta constituent which precipitates from the solid solution exerts a hardening effect. Because the zinc concentration is only 2 pct, and because of its solubility relations, AZ92 resembles a binary alloy of magnesium with aluminum. The solubility curve1 of Fig 2 shows how rapidly the solubility of the beta phase decreases with decreasing temperatures. Unlike many aluminum alloys, magnesium alloys do not age harden at room temperatures; precipitation hardening of AZ92 alloy is performed at about 177°C (350°F). At this temperature about 3 pct aluminum

Jan 1, 1947

By Phillip J. Maddex

The cost of transporting mineral raw materials and products will receive greater attention in the next 10-20 years because raw material sources and markets are changing. Today, shipping costs may equal 20%-80% of the landed or delivered cost of raw materials and products. Companies are learning that total costs are what count to the company and customers. Transportation has historically been priced at "What the traffic would bear" and little real effort has been made to analyze the shippers problem and provide them with effective and low cost transportation. This climate existed in both ocean and rail transport. The shiplines and railroads did not understand the shipper's problems and few shippers understood transportation and how to buy it. Recently more consideration has been given to the advantages between the American Merchant Marine- American Flag and Foreign flag vessels. The discussions held focused on what action is desirable to encourage American flag operations. Based on extensive studies made by both A. E. Gibson, Maritime Administrator and R. J. Blackwell, Deputy Maritime Administrator, the resulting statistics show that the potential for ocean transport is as follows: U. S. Foreign trade is estimated at 620 million long tons annually in the early 1980's. It was 418 million tons in 1968. In 1968 only 6.4% of the U.S. ocean borne trade was carried on American Flag vessels. About 50 million tons of early 1980's trade will go ill container ships. That leaves over 500 million tons to go as bulk or "neo-bulk" cargo.

Jan 1, 1970

By W. H. Bassett

IN the commercial annealing of cartridge brass there are four points regarding which definite data are essential. They have to do with the correct interpretation of grain count in its relation to annealing temperature and, incidentally, to Brinell hardness. These points are: 1. The comparison of the grain sizes of two cartridge-brass mixtures: 69 copper, 31 zinc, 0.376-in. (9.5-min.) gage; and 68 copper, 32 zinc, 0.130-in. (3.3-mm.) gage. 2. The comparison of the grain sizes of annealed metal that had previously been reduced by rolling varying amounts; for instance, 20.0, 36.6, 50.9, and 59.1 per cent. 3. The determination of standards for grain sizes on annealed brass of the composition 68 per cent. copper, 32 per cent. zinc and 69 copper, 31 zinc. 4. The comparison of grain size with Brinell hardness on identical samples of annealed metal. In their comprehensive and thorough investigation of the recrystallization of cold-worked alpha brass on annealing,1 Mathewson and Phillips have discussed the relations between temperature of anneal, degree of deformation, and structural alteration in alpha brass. They have also shown certain comparisons between the ordinary physical properties and the grain size of annealed brass. The purpose of the present investigation is mainly concerned with the grain size of cartridge brass, its relation to Brinell hardness, and the publication of sufficient data to enable those engaged in the inspection of such material to have a correct foundation upon which to work.

Jan 1, 1919

By Ward W. Minkler

Since 1978, the titanium metals industry, throughout the non-socialist world, has experienced a period of growth and prosperity unparalleled since the late 1950s. Sponge producers, melters and mill product manufacturers have operated at capacity, record shipments have been attained, new producers have entered the industry and established producers have implemented expansion plans. However, there is now mounting evidence that the underlying elements which generated this vigorous surge have abated, at least temporarily. It now appears that in 1982, the industry will encounter overcapacity, excessive inventory accumulations and the probability of declining prices. Therefore, it does seem appropriate that we now take inventory of the present and future markets for titanium with the hope we can identify both near term opportunities as well as challenges the industry now faces. If we view the development of titanium markets as a function of time, they fit rather neatly into three sectors.

Jan 1, 1982

By John K. Hammes

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

Jan 1, 1985

By J. R. Finlay

THE other day, I fell into conversation with two gentlemen who desired to improve the condition of the people; so that the talk was semi-political. They seemed to agree that I was inclined to be "con-servative," "reactionary," perhaps an "evolutionist," looking upon "reform" with suspicion. Finally I rejoined somewhat in this manner: "You attach to me phrases that I have heard all my life but which convey no meaning to me. It is quite true that I do not make a fetish of terms like reform, liberty, democracy and so forth; neither do I worship the idea that `things are good enough as they are,' `leave well enough. alone' and so forth. There is more satisfaction in building something up than in tearing something down, or in just maintaining something that is already built. Progress is a popular word; but what is progress? In my opinion it is comprised, so far as public welfare is concerned, of two elements: Improvements in production of goods and knowledge; improvements in keeping order." This substitute for politics, economics, reform, pro-gress, conservatism, radicalism, democracy, socialism, monarchism and all the phrases of public welfare may seem over-simple; perhaps it is, but at least it defines something. It seems to me to be at least worth attention.

Jan 4, 1922

By Francis Cameron

Mining is both exciting and rewarding-although at times somewhat frustrating-and we all can have real pride in our industry, in its people, and in its accomplishments. It is, however, with concern that I have noted a deterioration in this Country in what might be called mining's stature and in the growth of a belief in many quarters that our mineral reserves are rapidly approaching exhaustion. In other words, there is a popular image that we are fast becoming a "have not" nation in many respects and that the domestic mining industry can no longer be considered, in the vernacular of Wall Street, to offer much in the way of "growth potential." I do not subscribe to this hypothesis, nor do I believe that the record of the mining industry bears this out. However, let me add that we can, in time, talk ourselves into this frame of mind and we can hasten the day when this very well might come about by unnecessary and unwise legislation or regulation. My remarks today are basically designed to give my reasons for refuting this negative philosophy and to review our record. With your help, I know we can improve our image, and the public's recognition of our industry's peculiar problems.

Jan 4, 1968