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By J. F. Nicholas

THE angles between the crystallographic planes in cubic metals were originally given by Bozorth and have been republished many times. Recently, Salkovitz2 tabulated the angles for the hexagonal metals (magnesium, zinc, and cadmium). he most commonly used metal which does not fail into either of these groups is tin, which has a tetragonal structure with an axial ratio of c/a = 0.54558 (99.99 pct purity, 25°C).² ccordingly, Table I has been prepared giving the possible values for the angle, 4, between planes of the types {HKL) and {hkl). The formula used was: Hh + Kk + LI — cos? = —--------------—-----------— A [(H2 + K2 + L2-a2c2(h2 + k2 + r;)] All angles are given correct to the nearest minute as this is sufficient for all practical purposes. Every angle depends in a different way on variations in the value of c/a, but even in the worst cases a variation of about 0.0003 in this ratio is needed to vary an angle by l', which corresponds to a temperature change of 20 °C or can be caused by impurities.

Jan 1, 1952

By Werner Langguth

The modern process and plant for the precipitation of gold from chlorine solutions, by sulphurous acid gas and hydrogen sulphide, differ materially from the older methods of precipitating with sulphate of iron. The chemical process and its applicability, as carried out in the Golden Reward chlorination-works at Deadwood, S. D., was described and discussed in the Engineering and Mining Journal, of New York, for February 14, and March 21, 1891. I purpose to give, in this paper, the details of construction from a general standpoint—the particular arrangement, most suitable to each case, depending, of course, upon local conditions. The accompanying sketch shows the arrangement. The plant consists of a wooden, lead-lined tank, in which the chlorine solution is precipitated; apparatus for the production of the precipitants, sulphurous acid and hydrogen sulphide; and a pressure-tank and filter-press for the collection and filtration of the precipitated gold-sulphides. These parts and arrangements are, in general, those which I employed in the Deadwood chlorinationworks, and which have proved practically successful, more than $100,000 worth of gold having been already precipitated by this method. In the construction of the generator and pressure-tank I have made, however, a few slight changes. 1. The Precipitating-Tank. The exact dimensions of this tank are not of much importance. A horizontal area of 10 x 12 feet and a height of 12 feet, holding about 7000 gallons of solution, is a good size. As the amount of attention and care required to precipitate the solution in a precipitatingtank is independent of the size of the vessel, there is economy in tanks of large capacity. Square tanks are more advantageous than round ones, because they need less floor-space, and at the same time are cheaper in construction. These tanks are made of common 2inch pine boards and 12 x 12-inch timber. They are well-bolted,

Jan 1, 1893

By N. A. Gokcen, M. Ohtani

Thermodynamic intevaction pararnetevs of elements E2(2), for dilute binary solutions of a component "2" in liquid iron, i.e., E(22) = 9 In f2/?N2 where f2 is the activity coefficient and N2 the mole fraction, and E(3) 2 = In f2/ N3 dilute ternary solutions of "2" and "3," and the carbon saturation parameter sc(3) (In f c/ N3) N c/N Fe for N3 - 0, are critically examined and correlated. It has been found that the interaction parameters and the atomic numbers of alloying elements follow regular periodic putterns. PHYSICO-chemical behavior of alloying elements in molten iron have become the subject of numerous investigations during the past 25 years. Consequently, the mutual effects of elements in the iron-rich solutions Fe-C-X, Fe-N-X, Fe-H-X, Fe-O-X, and Fe-S-X where X represents an alloying element, have gradually become better understood. These effects for a given temperature and pressure may be expressed by the interaction parameter of Wagner1, 2 derived briefly in the following manner. The complete differential of the Gibbs free-energy equation at constant temperature and pressure is dF = Fl dn, + F2 dn, + F3 dn3+ . . . [ 1] where F is the free energy; F 1, the partial molar free energy of "I"; and n,, the number of moles of "i." Cross-differentiation of this expression* *Cross-differentials are obtained as follows: Since the order of differentiation of F with n2 and n3 is immaterial, the left sides of the second differentials are equal, hence the derivation of Eq. [2] is obtained. For a dilute solution of components 2 and 3 in solvent 1, with the substitution of RT In f i = Fi xs for Fi where fi is the activity coefficient, and Fixs is the excess partial molar free energy, Eq. [2] becomes O) [3] where N2 and N, are the mole fractions. The interaction parameters are defined by

Jan 1, 1961

By T. E. Godson

As this is the age of reform, a uniform mining law for North America is a moot subject for discussion at this meeting of the Institute. The question is one of peculiarly technical and, in many respects, local character. We all appreciate the value of the metal-producing industries and recognize the necessity and importance of a well-considered and evenly balanced mining law as a branch of our jurisprudence either for the Provinces or the Dominion as a whole. Mining has taken its place as a foremost industry and legislation that seeks to control and govern it is the concern of not only the active miner but the citizens of the state. A law that, through its charitable measures brings into being the prospector, the pathfinder and superstructure of all mining activity and industry, protects his interests, safeguards invested capital, and encourages and enforces development, possesses at least the salient requirements of a businesslike Act. The manner of doing so is, I think, one of local and internal concern. May I be permitted to say without presumption that of the five mining codes, or Acts, that we have in the Dominion of Canada born and bred within the Provinces of British Columbia, Ontario, Quebec, New Brunswick, and Nova Scotia, some of them could be materially improved. In many respects they do not measure up to the times; they were no doubt creations of merit at the date of their birth but they have not been clothed in seasonable raiment as the years passed by. It is a stern fundamental principle that all natural resources are the inalienable property of the crown. If it is mineral land, then it follows for the protection of the state and the direct advancement of the occupant that the land should be developed as such. The method or machinery by which this must be accomplished is a matter of detail, not of principle. If the right to possession as a licensee depends on discovery, it is not inconsistent with the duty the crown owes to, the state that a grant in fee should pass to the discoverer if there is imposed, after patent issues, a requirement of continuous work or the alternative of an acreage tax sufficiently burdensome to make it unprofitable that the land should be held in an undeveloped state. If, this requirement is recognized, the mental distinction between a grant and lease ceases to exist. A

Jan 4, 1919

By H. M. Bannerman

IN the past few years the mineral raw materials problem has risen from comparatively obscurity to great national significance. The transition has come so rapidly that the nature of the problem and what it portends have not yet been clearly defined. Consequently there are wide differences of opinion among the experts as to what can, or should be done to insure a continuing, adequate supply. On one hand, it is said that depletion of known domestic deposits and lagging discovery of new ones will bring about an imminent decline in mineral production and that in future U. S. mineral-using industries will have to depend on foreign sources for more and more of the major mineral raw materials. On the other hand, it is argued that domestic mineral resources are virtually inexhaustible if there were only legislation against competition from low-cost foreign producers. Still another school of thought contends that within the past decade the country has entered a period of unprecedented mineral discovery that is rapidly solving the problem of depletion. Only time will tell which of these widely divergent views is nearer the truth, for mineral resources are, after all, the result of research and adaptation, and resources of the future, as of the past, will depend largely on human response to circumstances. Of 18 substances now termed reactive metals, only 8 (boron, thorium, potassium, sodium, lithium, uranium, molybdenum, and tungsten) were considered of commercial significance at the turn of the century. Except for hafnium and rhenium, the other ten were well known to chemists and mineralogists before this, but none had found use commercially, whereas some, like titanium, were looked upon as nuisances in the ores of other metals. Of these ten elements, several were considered of minor commercial significance, and others were of little more than academic interest as recently as 15 years ago. Before World War II only a few of the better informed spoke of uranium or thorium as possible sources of power. Still fewer talked of converting boron into a super- fuel, and the time had not yet arrived when hafnium, rhenium and even zirconium were thought of as critical to U. S. welfare and safety.

Jan 10, 1957

By H. De Cizancourt

France.—Pechelbronn remains about the only producing field, 41 per cent of the 1937 output of 496,525 bbl. being mined by shaft and 59 per cent produced from pumping wells. At present Gabian has only a very small production. During 1937 there was no private undertaking for petroleum research. Only the Office National des Combustibles Liquides has done any drilling, unsuccessfully, at Pezenas and Frangy-Chilly. Algeria.—No new research has been made and Tliouanet, a small acreage pool that has been declining for several years, gave only 2193 bbl. in 1937. Morocco.—The SociCt6 Chhrifienne des Petroles continues active work. First tests of production made on the Jurassic structures of the Tselfat and Bou Draa must be mentioned for 1937. In connection with these tests, which have yielded 16,495 bbl., 14 new wells have been located

Jan 1, 1938

Organization Place Date International Mining Convention (Auspices, Van- 1919 couver Chamber of Mines) Vancouver, B. C. Jan. 8-10 American Institute of Consulting Engineers, Inc... New York, N. Y. Jan. 13 American Society of Civil Engineers New York, N. Y. Jan. 15-16 Institute of Chemical Engineers Chicago, 111. Jan. 15-18 American Wood Preservers Association St. Louis, Mo. Jan. 28-30 American Society of Heating and Ventilating Engineers New York, N. Y. Jan. 28-30 Automotive Engineers New York, N. Y. Feb. 4-6

Jan 1, 1919

By R. Sprycha, J. Szczypa, W. Janusz, J. Neczaj-Hruzewicz

INTRODUCTION Because large aqueous suspensions of various fine solids originate during the beneficiation of ores, the Mining Industry constantly requires efficient and feasible dewatering methods. Among the techniques currently in use (1,2), filtration (vacuum, press) and centrifugation are fairly expensive and thus are limited to use with more valuable materials. Furthermore, installations of reasonable size produce only moderate outputs. Therefore, tailings from ore dressing plants are usually treated by sedimentation or settling techniques with a tailings dam as the ultimate sedimentation basin (3). Apart from growing environmental and economic questions, the solid product obtained from the tailings dam basin has in most cases, a rather high moisture content and a persistent semi-fluid consistency. Thus, it is difficult to transport and use further. On the other hand, the solids may be utilized as a filling material, fertilizer, etc. providing they are dry enough and properly granulated. Demands for an improved technique are met to a great extent, by the technique presented in this paper. AGGLOMERATION OF FLOCCIJLATED SLIMES Origin and Qualitative Description of the Process Phenomena of consolidation and pellet formation in flocculated fines were first observed by Yusa and Gaudin (4) while studying rheological properties of flocculated kaolinite. On this basis, methods of separating liquid from solids have been worked out (5-7) and many possibilities for application have been suggested (5,6). Yusa termed the technique "wet pelletization''.

Jan 1, 1980

By Wilbur E. Sanders

AT some period during the operation of metalliferous and other commercially valuable mineral-deposits in connection with their underground mining, when the developments therein have become so extensive that their description is tedious and confusing, some scheme for naming or numbering the various workings and their parts is necessary for convenience of ; reference.. A simple and symmetrical yet expansive system of classification must be devised, one that is capable of being extended to cover all possible exigencies and conditions of future operations within the property. Such a scheme, properly arranged, greatly simplifies communication between the various departments of the mining business, as, for instance, between the administrative and the operating departments of the concern, and is of the greatest assistance to the officers of the mine in enabling them to locate and describe particular points and parts of workings and specific kinds of work. Again, in the proper segregation and differentiation of mine-accounts, when they are carried out with that detail which will furnish ready information concerning the cost of a particular piece of work, or the various items and totals of expense connected with the, development,, operation and repair of each or all of the mine-workings, some such method of designation becomes a necessity. . Moreover, such a plan is admirably adapted to the needs of the mining engineer, who, in connection with his reports upon mining-properties, is sometimes required, in his descriptions of certain blocks of ore, to locate lists of assays of samples taken from many and various places, and to designate workings and parts of workings that are located in different parts of the mine, sometimes at points wide apart.

May 1, 1906

By L. E. Porter, H. P. Hassel

The state of California produced 310,-996,696 bbl. of oil and about 415,832,000 M cu. ft. of gas in 1944. Such oil production represented 18.5 per cent of the nation's production, as compared with 19 per cent in 1943 ,The tremendous demand placed upon the California fields is indicated by the monthly production in 1944, as follows: Month Barrels per Day Jan................... 809,262 Feb.................. 820,712 Mar.................. 824,592 .4pr ................. 829,973 May.................. 832,068 June.................. 846,038 July.................. 849,231 Aug.................. 858,932 Sept.................. 885,823 Oct................... 877,667 Nov.................. 876,613 Dec.................. 883,847 In all, 2100 wells in proved areas and 269 wildcats were drilled in California during the year 1944. At the end of the year, approximately 270 wells were drilling in the state, as compared with 156 wells at the same time in the preceding year. Nine new fields or new zone discoveries were made during the year, which, according to best estimates, will contribute some 77,000,000 bbl. of new reserves; in addition, the extensions of old fields will increase the new reserves about 165,000,000 bbl., or a combined total, through dis- coveries of new fields, zones, and extensions, of 242,000,000 bbl., offsetting to the extent of about 78 per cent the total oil produced during the year. Geographically, the reserves from these new field and zone discoveries and extensions are distributed as follows: Per Cent San Joaquin Valley........ 72 Coast Area............... 24 Los Angeles Basin Fields. . . 4 100 The state's reserves of crude oil at the end of the year have been estimated to be distributed as follows: The outstanding development project for the year was that of the United States Navy in the Naval Petroleum Reserve No. I, Elk Hills field. During the year, 115 wells were completed in this field, and at the close of the year an average of 19 strings of tools were drilling. This program is being jointly conducted by the Standard Oil Co. of California with the Navy and is designed to increase the production of Naval Petroleum Reserves from approxi-

Jan 1, 1945

By C. S. Herzig

Some time ago, in Mexico, our signal-bells in a 700-foot shaft caused us considerable annoyance by continually getting out of order, each time so delaying our hoisting operations that we naturally desired to remedy this evil. There were two mays open: either to patch up the old bell, which was of the ordinary pattern, every time it failed to work, or else to devise some new arrangement.. On consultation with our foreman we designed a signal-device which, during the number of months I watched its operation, worked satisfactorily, without once getting out of order. We sought to produce a simple device, in which no greater pull on the lever would be necessary from one level than from another; to counterbalance independently the weight of the pendant bell-rope, so that there would be no direct weight on the working-parts of the bell itself, and likewise to arrange it so as to necessitate only a light pull on the lever in signaling; and, finally, to make some sort of trip-arrangement, so that whenever the signaling-lever underground passed through a certain arc the signal would be given in the engine-room. By this means we wished to obviate the ill effects of sudden heavy pulls and rough usage in general, such as all signaling

Jan 1, 1901

By Herbert H. Kellogg

In 1930, Taggart, Taylor and Knoll1 found that addition of various electrolytes to suspensions of ground minerals resulted in the stopping or starting of Brownian movement of the suspended particles. On the basis of the many new facts found, they rejected the " classical"† theory of Brownian movement and proposed an "ioniza-tion " theory. This new theory was further supported in later publications by Taggart.3,4 The acceptance of the ionization theory by men in the field of flotation may be judged by the mention given this theory in Gaudin's "Principles of Mineral Dressing,'16 Wark's "Principles of Flotation,"8 as well as in a recent paper by Fitt, Thomas and Taggart.7 The proponents of the ionization theory have gone further than the mere statement of the new theory. A parallelism between the Brownian movement of mineral particles and their behavior in flotation was reported.1,3,4 Likewise, the correlation between flocculation-dispersion of mineral particles and the Brownian movement of these particles has been investigated.' Bankoffl5 has suggested that "slime-coating" can also be directly correlated with the Brownian movement of the slime particles. In each of the instances mentioned it is the ionization theory of Brownian movement that has been used to "explain" the correlations that were found. The essential conflict between the kinetic theory and the ionization theory can be understood best by a brief description of each. The kinetic theory* proposes that Brownian movement is caused by the impacts of liquid molecules against the solid particles. At any instant of time, the molecular impacts on all sides of the solid particle will not balance, and the particle will receive a push in some direction. According to this theory, dl particles suspended in a liquid are in Brownian movement. However, if the particle is very large, the impacts on all sides will very nearly balance and the motion will not be noticeable. Another factor, besides the size of the particle, that affects the magnitude of the Brownian movement is the viscosity of the liquid—the greater the viscosity, the less the displacement of particles by Brownian movement. This theory has been verified experimentally by measurement of the velocity of Brownian movement, and by measurement of the compacting of suspensoid particles under the influence of gravity.2 The originators of the ionization theory found that he addition of various electrolytes to slime pulps caused cessation or commencement of Brownian movement, depending upon the chemical nature of the particle and the electrolyte. The Brownian movement of quartz particles was observed to stop upon the addition of Certain electrolytes, where the conditions of the experiment prevented flocculation

Jan 1, 1947

By Herbert H. Kellogg

In 1930, Taggart, Taylor and Knoll1 found that addition of various electrolytes to suspensions of ground minerals resulted in the stopping or starting of Brownian movement of the suspended particles. On the basis of the many new facts found, they rejected the " classical"† theory of Brownian movement and proposed an "ioniza-tion " theory. This new theory was further supported in later publications by Taggart.3,4 The acceptance of the ionization theory by men in the field of flotation may be judged by the mention given this theory in Gaudin's "Principles of Mineral Dressing,'16 Wark's "Principles of Flotation,"8 as well as in a recent paper by Fitt, Thomas and Taggart.7 The proponents of the ionization theory have gone further than the mere statement of the new theory. A parallelism between the Brownian movement of mineral particles and their behavior in flotation was reported.1,3,4 Likewise, the correlation between flocculation-dispersion of mineral particles and the Brownian movement of these particles has been investigated.' Bankoffl5 has suggested that "slime-coating" can also be directly correlated with the Brownian movement of the slime particles. In each of the instances mentioned it is the ionization theory of Brownian movement that has been used to "explain" the correlations that were found. The essential conflict between the kinetic theory and the ionization theory can be understood best by a brief description of each. The kinetic theory* proposes that Brownian movement is caused by the impacts of liquid molecules against the solid particles. At any instant of time, the molecular impacts on all sides of the solid particle will not balance, and the particle will receive a push in some direction. According to this theory, dl particles suspended in a liquid are in Brownian movement. However, if the particle is very large, the impacts on all sides will very nearly balance and the motion will not be noticeable. Another factor, besides the size of the particle, that affects the magnitude of the Brownian movement is the viscosity of the liquid—the greater the viscosity, the less the displacement of particles by Brownian movement. This theory has been verified experimentally by measurement of the velocity of Brownian movement, and by measurement of the compacting of suspensoid particles under the influence of gravity.2 The originators of the ionization theory found that he addition of various electrolytes to slime pulps caused cessation or commencement of Brownian movement, depending upon the chemical nature of the particle and the electrolyte. The Brownian movement of quartz particles was observed to stop upon the addition of Certain electrolytes, where the conditions of the experiment prevented flocculation

Jan 1, 1947

By Rodney G. Ravenscroft

Leasing is not a new phenomenon. Experts have identified its origins as early as biblical times. It is a method of finance that has grown rapidly and is now used in most countries, including those of South East Asia, South America, the Middle East and even the People's Republic of China. Internationally, the leasing world divides fairly easily into two groups and this is determined, by and large, according to whether a country has Anglo-Saxon origins or not. Most of the Anglo-Saxon countries have seen tax-oriented leasing become a sophisticated means of financing the acquisition of large and costly items of equipment and large projects. Countries such as France, Spain and Japan have a highly developed leasing industry but it is not tax-oriented. This paper will not address leasing of this kind. LEASING - THE CONCEPT Wide acceptance of leasing as an alternative for financing capital equipment has grown with the recognition by the users of equipment that it is use and not ownership that generates profits. Whilst this seems obvious, memories of repossession of assets during the Depression and attitudes towards leasing as "last resort financing" have raised strong philosophical resistance that has only recently begun to be overturned. A financial lease is a commitment by way of contract between a user of equipment (lessee) and a financial owner (lessor) under which the lessee makes a series of payments in return for use of the equipment. The lessee is acquiring economic value associated with ownership but not ownership of the equipment itself - that remains with the lessor. A lease is a method of financing the use of an asset; other methods finance the assets themselves. It is the taxation aspects that then become important. The lessee is giving up some or all of the taxation benefits of ownership such as depreciation and investment tax credits. The lessor claims these benefits, as he is entitled to do as owner, and takes them into consideration when determining the level of lease payments that are necessary to generate his required rate of return. These lease payments are, of course, lower than they would have been without those taxation benefits. The lease payments themselves are fully tax deductible. This is tax shelter leasing. The lessor is acquiring taxation deductions that are applied fully and immediately against his other taxable income so as to reduce the amount of tax he is to pay to the revenue authorities. It is this concept that makes financial leasing work. Governments provide incentives by way of tax concessions to encourage capital investment. Governments presume that prudent capital investment will offer employment opportunities, generate sales and streamline economic activity. These, in turn, will lead to the collection of government revenue. It makes no difference at all whether these incentives are claimed by a commercial or industrial owner/user or by a financial owner who makes equipment available for use by industry. Rather, the issue is to ensure that if an incentive is available, it is used so as to achieve its desired results. No greater or lesser incentive is available for leasing and leasing does not misuse the taxation aspects of equipment ownership. The critical issue is whether the full value

Jan 1, 1985

OFFICERS OF THE WOMAN'S AUXILIARY AIME President-Mrs Robert D Coombs, 375 Paramus Road, Paramus, N J First Vice-President-Mrs W McG Peirce, Troy Court 73 F, New England Avenue, Sum¬mit, N J Second Vice-President-Mrs Andrew E Beer, Richardson Avenue, Sea Cliff, Long Island, N Y Third Vice-President-Mrs Ira T Hook, 494 Norton Parkway, New Haven, Conn Fourth Vice-President-Mrs John R Kenney, 427 W Wrightwood Avenue, Chicago 14, Ill Fifth Vice-President-Mrs Alfonso Ballon, Montero Rosas 115, Barranco, Lima, Peru Recording Secretary-Mrs Arnold H Miller, 601 West 115th St, New York 25, N Y Assistant Recording Secretary-Mrs R J Mechin, 66 East 79th Street, New York 21, N Y Corresponding Secretary-Mrs Theodore Nagel, 76 Remsen St, Brooklyn 1, N Y Treasurer-Mrs Robert W Rowen, 116 East 68th St, New York 21, N Y Assistant Treasurer-Mrs Samuel H Dolbear, 11 Broadway, New York 4, N Y Assistant Treasurer-Mrs H A Kursell, 12 Murray Hill Road, Scarsdale, N Y

Jan 1, 1956

By H. F. Yancey, M. R. Greer

At the annual meeting of this Institute held two years ago a new method1 of estimating the grindability of coal was described, based on experimental work carried on by the Bureau of Mines at its Northwest Experiment Station. Since that time, several organizations concerned with the testing or utilization of coal as pulverized fuel have adopted and used the method in determining the grindability of several hundred samples of coal. In addition, a series of comparative tests of this method and three others has been carried out in five laboratories under the auspices of Committee D-5 of the American Society for Testing Materials. As a result the Committee has recommended that the Bureau of Mines method, designated as the "ball-mill method," and the Hardgrove method2, previously advanced, be accepted as tentative standards3. Since the ball-mill method was originally developed and published, an opportunity has been presented to apply it to a larger number of coals and to study intensively some of the principles upon which the method is based. This paper presents a résumé of these further studies and includes a comparison with the Hardgrove-machine method. Trial runs were also made with another procedure recently proposed—the C.I.T. roll-test method4. Principles of Methods In the ball-mill method, the relative amounts of energy necessary to grind coals to the same fineness are determined by the number of revolutions of the mill required to reduce 80 per cent of the feed (500 grams of 10 to 200-mesh coal) fine enough to pass a 200-mesh screen. This is a

Jan 1, 1936

By H. F. Yancey, M. R. Greer

At the annual meeting of this Institute held two years ago a new method1 of estimating the grindability of coal was described, based on experimental work carried on by the Bureau of Mines at its Northwest Experiment Station. Since that time, several organizations concerned with the testing or utilization of coal as pulverized fuel have adopted and used the method in determining the grindability of several hundred samples of coal. In addition, a series of comparative tests of this method and three others has been carried out in five laboratories under the auspices of Committee D-5 of the American Society for Testing Materials. As a result the Committee has recommended that the Bureau of Mines method, designated as the "ball-mill method," and the Hardgrove method2, previously advanced, be accepted as tentative standards3. Since the ball-mill method was originally developed and published, an opportunity has been presented to apply it to a larger number of coals and to study intensively some of the principles upon which the method is based. This paper presents a résumé of these further studies and includes a comparison with the Hardgrove-machine method. Trial runs were also made with another procedure recently proposed—the C.I.T. roll-test method4. Principles of Methods In the ball-mill method, the relative amounts of energy necessary to grind coals to the same fineness are determined by the number of revolutions of the mill required to reduce 80 per cent of the feed (500 grams of 10 to 200-mesh coal) fine enough to pass a 200-mesh screen. This is a

Jan 1, 1936

By O. E. Kiessling

THIS announcement of the topics relating to production control, which the Committee hopes to have discussed at the February meeting, supplements the preliminary announcement published in the November number of MINING AND METALLURGY. In the previous article, the writer indicated the kaleide-scopic nature of the questions involved in obtaining better coordination in industry, and that, as a matter of practical expediency, the discussion in February would be limited to the more obvious difficulties in industry which need attention and to those questions which the Committee thinks would be of greatest interest to members of the Institute. But while practical considerations necessitate limiting the program, free discussion of all phases of the subject is urged by 'the Committee. In a preliminary consideration of the production control problem, there loom up two questions which have to be faced: (1) First, there is the question of the extra industrial capacity necessary to meet demand during the ordinary fluctuations of business, commonly characterized as `the "business cycle." Anyone who tries to formulate a program pertaining to productive capacity must decide whether he wishes to discuss the control of business cycles. While this question may eventually lend itself to treatment, the Committee does not feel that it can be considered at present with much profit. (2) The second question arises from the existence of over-stimulated capacity above and beyond peak demands in boom times. Discussion of this topic, it is felt, would be most fruitful. How to prevent capacity from being over-stimulated to an extent beyond any hope of possible demand is a

Jan 1, 1929

PRESIDENT SAMUEL A TAYLOR, District 3 PITTSBURGH, PA PAST PRESIDENTS WILLIAM KELLY, District 5 IRON MOUNTAIN, MICH J V W. REYNDERS, District 0 NEW YORK, N Y FIRST VICE-PRESIDENT E DEGOLYER, NEW YORK, N Y TREASURER CHARLES F RAND. . . NEW YORK, N Y

Jan 1, 1923

GENTLEMEN : It is my privilege to transmit herewith the reports for the calendar year 1932 of your Treasurer and the Chairmen of the following Standing Committees: Finance, Admissions, Membership, Papers and Publications, Library, and Mining and Metallurgy. To these reports you are referred for additional details of the year's activities. Finances.-Continuation of depressed conditions in the mining industry (in common with other industries) caused the income of the Institute to decline from $168,274 in 1931 to $138,331. However, economies were effected so as to reduce expenditures from $171,198 to $135,977. As a consequence the net result of the operations for the year was a-surplus of income amounting to $2,354 compared with a deficit of $2,924 in 1931. This gratifying result is accounted for in large measure by the foresight of the Finance Committee in anticipating a substantial decline in income and preparing the budget accordingly. Incidentally, the tentative budget for 1933 has been balanced at $125,000.

Jan 1, 1932