Search Documents

By Arthur H. Leigh

Anode mud, the residual material collected from the bottom of the electrolytic cells during the refining of copper is leached, roasted, fire-refined and cast into Dore1 metal anodes. Dore1 metal is a gold-silver-copper alloy containing 80 percent silver. The metal is processed electrolytically using the Moebius system to refine silver and separate gold, platinum and palladium. The Moebius cell cathodes receive a deposit of silver crystals which are melted and cast into 1000 ounce silver bars with 999 Fine minimum purity. Gold mud is collected in fabric bags and cast into gold anodes for further refining in the Wohlwill cells. Wohlwill cells are unique in that gold, the noble metal, can be put into solution electrolytically without the use of aqua regia. Gold is collected on high purity gold foil cathodes and cast into 400 ounce bull ion with 999.7 Fine minimum purity. Platinum and palladium remain in the electrolyte progressively increasing in concentration and are finally separated and purified by precipitation.

Jan 1, 1973

By J. L. Huiatt, M. C. Fuerstenau, M. C. Kuhn

Dithiophosphatogen is the species responsible for flotation of pyrite when dithiophosphate is added as collector. Oxidation of collector apparently occurs by reaction with oxygen adsorbed on the pyrite surface. Oxidation of dithiophosphate and xanthate is also effected with Cu++, Cu(OH) , and Fe+++ and rates of oxidation are presented as a function of pH. Reasons for the selectivity observed when dithiophosphate is added as collector in a natural ore system as compared to xanthate are presented and discussed.

Jan 1, 1972

ALLERTON S. CUSHMAN, Middletown, Ohio (written discussion*).¬ This subject is one to which I have given much thought and study and which I have frequently discussed informally with Mr. Cain and others. I have long been convinced that the gaseous elements, either combined or entrained (occluded), in steel play a much more important role than is ordinarily admitted. This is probably due to the difficulties encountered in the accurate quantitative estimation of gases, some of which Mr. Cain has referred to, as well as to the fact that, considered from the weight-percentage basis, gas content is measurable only in hundredths or even thousandths of 1 per cent. Volumetrically, however, the results ob-tained by modern research are startling, to say the least. Baraduc-Muller,1 as cited by Mr. Cain, pumped out of 1000-lb. ingots of basic Bessemer steel 2100 l. of gas. or about 75 cu. ft., at normal temperature and pressure, per ton of steel. In other words, we are to understand that Bessemer steel normally carries about fifteen times its own volume of gas. According to Baraduc-Müller's table of results, which is given here-with, carbon monoxide, nitrogen, and hydrogen are important consti-tuents of Bessemer steel, the latter gas being undoubtedly formed by the

Jan 11, 1919

By John A. Church

IT is a well-known fact that under similar conditions a ton of pig iron can be made from any ore with less fuel when charcoal is used than when coke or anthracite is employed for heating. The cause of this superiority is entirely undiscovered, and no explanation has yet been offered which has won even temporary acceptance. Such as they are the hypotheses heretofore presented are of two general kinds, and they come from those two divisions of the working force which are so often antagonistic in all professions, the scientific and the practical men. The theory of the scientific men is drawn from the chemical reactions which are known to go on in the furnace, and it is well expressed in a recent paper by Prof. Akerman, of the Stockholm (Sweden) School of Mines. It makes the superiority of charcoal as a fuel in the blast furnace to depend upon its quick and thorough reduction of carbonic acid. This property belongs to charcoal in virtue of its porous structure. Its cells have a diameter of only one twenty-four hundredth of an inch, and one grain of charcoal has been computed to have a surface of two and four-tenths square feet. According to the theory in question, carbonic acid is formed by the first impact of the air upon the fuel; but in charcoal furnaces the acid is immediately reduced to oxide by taking the necessary amount of carbon into combination, and the gas reaches its highest reducing power even in the near vicinity of the tuyeres. Coke, being harder, does not produce so strong a reducing gas in that part of. the furnace. Carbonic acid is formed as in the case of charcoal, and remains longer before its reduction to oxide is completed. Anthracite is the

Jan 1, 1879

By H. Reinhardt, P. Haglund, J. Rydberg, B. Lunden

As legislation to minimize pollution in effluent streams becomes stricter, it is important to treat used acid pickling baths before discharge. This is usually achieved by neutralization of the acids and precipitation of the dissolved metals in such a way that neither acids nor metals can be re-used. A process has been designed and tested on a pilot plant scale to recover both acids and metals from a stainless steel pickling bath leaving only Na2SOs in the effluent. In this process, H2SOr is added to the spent pickling liquor and the recovery of the pickling acids HN03 and HF is achieved by solvent extraction, using TBP in kerosene as the organic solvent. The extracted acids are stripped with water, giving an acid concentration high enough for direct use in the pickling bath. Molybdenum is also extracted by TBP and is recovered in a separate step. The other metals, Fe, Cr and Ni, are precipitated from the raffinate as hydroxides, dried and recycled to the metal process. In evaluating this process, comparative experiments with mixer-settler and pulsed column have been performed. The process described is being considered for use by a Swedish company pickling 70,000 tons per annum of stainless steel.

Jan 1, 1973

By Glenn C. Waterman

THE diamond drill is a very important tool in exploration and development testing and its use is increasing. In almost all cases results of diamond drilling are analyzed on the basis of grade and tons. A proper evaluation of core and sludge assays is important if drilling results are to be acceptable as a basis for geologic and engineering appraisal. The relatively wide variation in assay averages as calculated by various well-known combining methods indicates that the engineering choice of a method may affect the outcome of the drilling in terms of ore and waste. The problem of combining assay results from core and sludge samples has been discussed many times in conference and in the literature.'" Most writers agree that the field of disagreement in methods is large and that the engineer on the job must consider features unique to his drilling, pick one of several combining methods, and depart from the rules when abnormal results come in. All the discussion to date can be summed up by the admission that as yet there is no fairly simple, generally acceptable combining method that is practicable over a wide range of drilling conditions, ground conditions, and ore occurrence.

Jan 1, 1955

By C. J. Hicks

The labor policy of the Standard Oil Co. (New Jersey) is founded first of all on paying at least the prevailing scale of wages for similar work in the community; on the eight-hour day at the refinery, with time and one-half for overtime; one day's rest in seven; sanitary and up-to-date working conditions; just treatment assured each employee; opportunity for training and advancement; payment of accident benefits beyond the amount prescribed by the State compensation law; health supervision by a competent medical staff; payment of sickness benefits after one year's service; coöperation with employees in promoting thrift and better social and housing. conditions; and assurance of a generous annuity at the age of 65, guaranteed for life after 20 years of service. Most of these features have been a part of the company's policy for many years, but it is only during the past two years that the cooperation of employees in determining these matters has been definitely assured through industrial representation. Industrial representation, in the Standard Oil Co. (N. J.), is a principle rather than a procedure. It is built upon the belief that personal association of those interested in any problem leads to a mutual understanding and a fair decision as to what is right. Fully believing in this principle, representatives of employees and representatives of management evolved a simple plan, the basis of which is that it gives every individual employee representation at joint conferences on problems and fundamental principles affecting all those interested in the industry. It is based on cooperation, not antagonism; its operation makes perfectly clear both to management and to employees that their interests are identical, and not at variance with the interests of the stockholders, and that mutual understanding and cooperation insure progress and success for all. Furthermore, experience has definitely shown that representatives of the employees are not only alert for the employees' interests but are as keen as the representatives of the management in determining and insisting upon fairness to the employer. Though the plan has been in operation nearly two years, it is an experiment, in that, being based on a principle rather than on cut-and-

Jan 1, 1921

Report of President The important fact of the year 1916 is that on July 25 contracts were executed by which the American Society of Civil Engineers because an additional Founder Society and arranged to make its permanent home in our building. The contracts provide for the construction of three additional stories to the building, the American Society to pay the cost tip to $250,000, this being considered equivalent to what each other Founder Society had contributed, the American Society to participate in the original Carnegie gift and have an equal share in the property with each other Founder society. The construction of the addition to the building is under way, $62,525.04 having been expended thereon in 1916. It has been found that, clue to war conditions and the advanced price of materials, the cost of the addition will be $300,000. The founder societies have been requested to assume the extra $50,000, one quarter each. This work is in charge of a Building Committee consisting of H. H. Barnes, Jr., Chairman, E. G. Spilsbury, Charles Warren Hunt and Charles F. Rand. At the request of the Founder Societies, important alterations were made in the lecture halls on the fifth floor of the building to make the same suitable for social functions of the societies. The cost, $6,642.08, was advanced by the United Engineering Society but is to be paid eventually by the Founders. The Library of the civil Engineers is being merged with the Library of the United Engineering. Society and the other founder societies. At the present time the membership of the four founder societies is 29,000 and of associate societies 23,000, so that a total of 52,000 engineers now have their headquarters in our building. The value of the real estate now owned by this Society is $1,647,171.16. This sum will be increased at the end of 1917 by the amount of the cost of the addition to the building.

Jan 3, 1917

By John Griffen

This paper records over twenty years' experience with the use of the Rheolaveur system in the United States, showing its ability to meet changing conditions caused by the dirtier mine output of present-day mechanical mining methods. Data are given on size ranges handled, number and capacity of units installed, maintenance experience, and operating results on two-product and three-product separations. IT is not the purpose of this paper to discuss the principles employed in the Rheolaveur system of fine-coal cleaning as these have been fully covered in the technical literature of the Institute."2 Rather, our purpose will be to record the highlights of over 20 years' experience in the United States with Rheolaveur fine-coal launders, which will indicate their capabilities and costs of cleaning and their adaptability to meet the changing conditions caused by present-day mechanical mining methods. Rheolaveur fine-coal launders are used in the United States to treat a wide variety of size ranges of fine coal, the coarsest being 1/2 in. to 0 and the finest about 1/8 in. to 0. In Europe feeds as coarse as 5/8 in. and as small as 1/2 mm (28-mesh) to 0 are being cleaned. The size ranges usually handled in this country are 3/8 to 1/4-in. round to 0. Thirty five units with a combined hourly feed capacity of 3200 tph have been installed in the United States. Individual units are cleaning as little as 25 tph, while others are cleaning as much as 200 tph. Rheolaveur fine-coal launders offer cleaning units of high capacity and are outstanding in requiring a minimum of building space per ton of input. Experience has shown that maintenance costs are low. Several installations were made in the Pittsburgh district from 1928 to 1930, and since that time operation has been largely two shifts per day. Minor repairs to liner plates and Rheo boxes have been required during the intervening years, but no major replacement of launders was required until 1947 and 1948. At one of these plants, launders operated for 17 years before they were replaced and during that period over 26,000,000 tons of —5/16-in. coal were cleaned. The effect of the much dirtier raw coal produced by mechanical loading of the Pittsburgh seam is shown by the following tests. The data in table I summarize the performance of a Rheo fine-coal unit when cleaning hand-loaded raw coal. The —4-in. raw coal fed to the cleaning plant analyzed only 8.16 pct ash and 1.31 pct sulphur and contained 4.6 pct sink, 1.55 sp gr. Two years later, in 1945, mechanically-loaded coal from the same mine was cleaned in the same plant. The feed, —4 in., then analyzed 20.10 pct ash and 1.53 pct sulphur and contained 20.2 pct sink, 1.55 sp gr. The performance of the Rheo fine-coal unit when cleaning this coal is given in table 11. It will be noted that the +48-mesh coal is cleaned almost as thoroughly as in table I. The large amount of high-ash slimes produced from the dirtier feed are responsible for the higher ash of —--48-mesh washed coal in table 11. In this plant the Rheo fine-coal unit did not get the full load of refuse resulting from mechanical

Jan 1, 1951

By John Griffen

This paper records over twenty years' experience with the use of the Rheolaveur system in the United States, showing its ability to meet changing conditions caused by the dirtier mine output of present-day mechanical mining methods. Data are given on size ranges handled, number and capacity of units installed, maintenance experience, and operating results on two-product and three-product separations. IT is not the purpose of this paper to discuss the principles employed in the Rheolaveur system of fine-coal cleaning as these have been fully covered in the technical literature of the Institute."2 Rather, our purpose will be to record the highlights of over 20 years' experience in the United States with Rheolaveur fine-coal launders, which will indicate their capabilities and costs of cleaning and their adaptability to meet the changing conditions caused by present-day mechanical mining methods. Rheolaveur fine-coal launders are used in the United States to treat a wide variety of size ranges of fine coal, the coarsest being 1/2 in. to 0 and the finest about 1/8 in. to 0. In Europe feeds as coarse as 5/8 in. and as small as 1/2 mm (28-mesh) to 0 are being cleaned. The size ranges usually handled in this country are 3/8 to 1/4-in. round to 0. Thirty five units with a combined hourly feed capacity of 3200 tph have been installed in the United States. Individual units are cleaning as little as 25 tph, while others are cleaning as much as 200 tph. Rheolaveur fine-coal launders offer cleaning units of high capacity and are outstanding in requiring a minimum of building space per ton of input. Experience has shown that maintenance costs are low. Several installations were made in the Pittsburgh district from 1928 to 1930, and since that time operation has been largely two shifts per day. Minor repairs to liner plates and Rheo boxes have been required during the intervening years, but no major replacement of launders was required until 1947 and 1948. At one of these plants, launders operated for 17 years before they were replaced and during that period over 26,000,000 tons of —5/16-in. coal were cleaned. The effect of the much dirtier raw coal produced by mechanical loading of the Pittsburgh seam is shown by the following tests. The data in table I summarize the performance of a Rheo fine-coal unit when cleaning hand-loaded raw coal. The —4-in. raw coal fed to the cleaning plant analyzed only 8.16 pct ash and 1.31 pct sulphur and contained 4.6 pct sink, 1.55 sp gr. Two years later, in 1945, mechanically-loaded coal from the same mine was cleaned in the same plant. The feed, —4 in., then analyzed 20.10 pct ash and 1.53 pct sulphur and contained 20.2 pct sink, 1.55 sp gr. The performance of the Rheo fine-coal unit when cleaning this coal is given in table 11. It will be noted that the +48-mesh coal is cleaned almost as thoroughly as in table I. The large amount of high-ash slimes produced from the dirtier feed are responsible for the higher ash of —--48-mesh washed coal in table 11. In this plant the Rheo fine-coal unit did not get the full load of refuse resulting from mechanical

Jan 1, 1951

By Paul L. Russell

THIS is a progress report of an experiment being undertaken in cooperation with the Bethlehem Steel Corp., the Crucible Steel Co., and the Rock Bit Sales and Service Co., involving heat treatment of the shank ends of drill steel. This experiment is being conducted by the U. S. Bureau of Mines in its experimental mine, Mining Research Branch, Bluemont, Va. The purpose of the experiment is to determine the effect of an increase in the time the steel soaks in the furnace during the hardening heat. It has been thought that increasing this time produces a soft zone below the lugs resulting in a metallurgical notch that causes early failure. Each of the steel companies furnished enough 11/4 - in. straight carbon, hollow, round steel to make up 10 sets of drill steel, in each instance the steel bars were from the same heat. These sets of drill steel, consisting of 2-ft, 4-ft, 6-ft, and 8-ft lengths were fabricated by the Rock Bit Sales and Service Co. Special attention was given to the forging of the steel to produce the best rods possible. The heat treatment of all thread ends was identical and followed the best practice. The heat treatment of the shank ends of five sets of steel from each company produced a soft zone 2 to 4 in. in front of the lugs. It was decided that possibly the best way to obtain this effect was not to overlap the hardening heat but to let the steel soak for an additional 30 min before quenching. Therefore the only variable in the test steels is the length of time the shank ends were in the furnace. The remaining drill steel shanks were treated as follows: Heat treatment in pyrometer-controlled furnace at 1550°F. Quenching oil at 105°F to 125°F temperature. Areas for heat treatment were; shanks, 11 in.; threads, 9 in. Time at heat, standard practice, 20 min for 11/4-in. steel. Actual drilling tests were made in greenstone, (a metamorphosed basaltic rock), and in epidosite. Greenstone has a specific gravity of 2.96 and a compressive strength of 44,200 psi. Epidosite has a specific gravity of 3.26 and a compressive strength of 63,100 psi. All drilling tests were made using a 31/2-in. column-mounted, automatic feed drifter, with a controlled air pressure of 90 psi at the throttle. Tungsten-carbide bits of 2 in. diameter were used for all drilling. Contrary to expectations the drill steels that were allowed to soak for the additional 30 min before quenching performed better than the steels that were heat treated according to standard practice. This performance, as shown in Table I, was especially noticeable in the drilling of epidosite. The "longheat" drill steels furnished by Company "A" drilled 154 pct more minutes than the "standard-heat" steel. Expressed in feet, the "long-heat" steel drilled 114.60 ft more before failure than the "standard-heat" steel. The "long-heat" steel furnished by Company "B" drilled 37 pet more minutes or 60.39 ft more before failure than the "standard-heat" drill steel. The effect of the long heat treatment was not as evident when the steels were drilling in greenstone (Table II). In greenstone, the increase in minutes drilled by the "long-heat" steel over the "standard-heat" steel was 47 pet and 1 pet, respectively, for Companies "A" and "B."

Jan 1, 1952

By W. A. Ver Wiebe

Spurred on by the very high demands for new crude supplies resulting from World War 11, the oil men of Kansas strained every effort in 1943 to find as many new pools as possible. In all, 1761 test wells were drilled, ,of which 895 were successful in finding new oil supplies and 32 in finding new gas supplies. The total number of wildcat wells drilled in Kansas was 577, including the so-called "extension wildcats," which are located less than 2 miles from production. As a result of the very determined effort to find new oil reserves, 49 of the wildcat test wells found new oil pools in western Kansas and 7 found new oil pools in eastern Kansas. There were 289 rank wildcat tests, and among these 28 were successful ventures. They are responsible for 26 of the new oil pools recorded for the year and 2 of the new gas pools recorded. The ratio of dry holes to producing wells among such rank wildcats is thus approximately 10 to I (289 dry and 28 good). This compares with a ratio of II: I in 1942 and 6:1 in 1941; the same in 1940 and 5:Iin 1939. With nearly all wells flowing to their maximum economic capacity, the total production for Kansas during 1943 reached a new high; that is, 107,700,000 bbl., compared with 97,000,000 during the previous year. Similarly, the amount of gas sold during 1943 made a new high point on the production curve. The total amount was 122 billion cubic feet, compared with about 98 1/2 billion cubic feet for the year previous. As usual, the large Hugoton field of south- western Kansas accounted for approximately half of the total gas production. Highlights of the Year Despite the fact that 56 new pools were found in Kansas during 1943, it must be admitted that the future reserves of the state have not been increased greatly. Most of the new pools seem to be of minor value, although it is admittedly impossible to gauge the future production of any pool in Kansas with any exactitude. Judging by the later performance of some of the pools found in 1942 and in 1941, less than five of the new pools are likely to make any great contribution to the state's future oil reserves. Taking up the counties of Kansas in alphabetical order, the following statements summarize the highlights of the year. In Graham County, the Morel pool was extended to the southeast and this pool now promises to become one of the important pools of western Kansas. Several of the older wells have already contributed more than I000,000 bbl. of oil, and such a figure is considered very satisfactory in Kansas. In McPherson County, important new reserves were found by persistent drilling in township 17 S., R. I. W., the most northeastern township of the county. Many new wells in older pools and discovery wells in new pools make this region look promising. The Lindsborg pool, which had a sensational revival during 1942, was also extended in a number of directions and has now become a rather large producing area with a fairly high future potential capacity.

Jan 1, 1944

By W. A. Ver Wiebe

Spurred on by the very high demands for new crude supplies resulting from World War 11, the oil men of Kansas strained every effort in 1943 to find as many new pools as possible. In all, 1761 test wells were drilled, ,of which 895 were successful in finding new oil supplies and 32 in finding new gas supplies. The total number of wildcat wells drilled in Kansas was 577, including the so-called "extension wildcats," which are located less than 2 miles from production. As a result of the very determined effort to find new oil reserves, 49 of the wildcat test wells found new oil pools in western Kansas and 7 found new oil pools in eastern Kansas. There were 289 rank wildcat tests, and among these 28 were successful ventures. They are responsible for 26 of the new oil pools recorded for the year and 2 of the new gas pools recorded. The ratio of dry holes to producing wells among such rank wildcats is thus approximately 10 to I (289 dry and 28 good). This compares with a ratio of II: I in 1942 and 6:1 in 1941; the same in 1940 and 5:Iin 1939. With nearly all wells flowing to their maximum economic capacity, the total production for Kansas during 1943 reached a new high; that is, 107,700,000 bbl., compared with 97,000,000 during the previous year. Similarly, the amount of gas sold during 1943 made a new high point on the production curve. The total amount was 122 billion cubic feet, compared with about 98 1/2 billion cubic feet for the year previous. As usual, the large Hugoton field of south- western Kansas accounted for approximately half of the total gas production. Highlights of the Year Despite the fact that 56 new pools were found in Kansas during 1943, it must be admitted that the future reserves of the state have not been increased greatly. Most of the new pools seem to be of minor value, although it is admittedly impossible to gauge the future production of any pool in Kansas with any exactitude. Judging by the later performance of some of the pools found in 1942 and in 1941, less than five of the new pools are likely to make any great contribution to the state's future oil reserves. Taking up the counties of Kansas in alphabetical order, the following statements summarize the highlights of the year. In Graham County, the Morel pool was extended to the southeast and this pool now promises to become one of the important pools of western Kansas. Several of the older wells have already contributed more than I000,000 bbl. of oil, and such a figure is considered very satisfactory in Kansas. In McPherson County, important new reserves were found by persistent drilling in township 17 S., R. I. W., the most northeastern township of the county. Many new wells in older pools and discovery wells in new pools make this region look promising. The Lindsborg pool, which had a sensational revival during 1942, was also extended in a number of directions and has now become a rather large producing area with a fairly high future potential capacity.

Jan 1, 1944

By Harry A. Roe

The power drag scrapers and the slackline cableway excavator have been called "long-range excavators." Broadly, their field of usefulness is restricted to work in which their long range of action permits them to operate economically, and which other, possibly more conventional, excavating units cannot do. Both of these machines dig or lift material and transport it to a remote dumping point. They combine these two functions in a single machine, nearly always in a single straight-line motion. The purpose of this paper is to examine the important features that distinguish the machines in this group from each other, as well as from other groups. The Machines The "power drag scraper" is a long-range excavating machine that employs a bottomless drag scraper operated back and forth between digging and dumping points by two haulage cables. The typical arrangement is that of Fig. 1. This is the "slusher" of the underground mine, as well as the "dragline scraper" of the sand and gravel industry, and other open-pit mining operations.

Jan 1, 1938

By Harry A. Roe

The power drag scrapers and the slackline cableway excavator have been called "long-range excavators." Broadly, their field of usefulness is restricted to work in which their long range of action permits them to operate economically, and which other, possibly more conventional, excavating units cannot do. Both of these machines dig or lift material and transport it to a remote dumping point. They combine these two functions in a single machine, nearly always in a single straight-line motion. The purpose of this paper is to examine the important features that distinguish the machines in this group from each other, as well as from other groups. The Machines The "power drag scraper" is a long-range excavating machine that employs a bottomless drag scraper operated back and forth between digging and dumping points by two haulage cables. The typical arrangement is that of Fig. 1. This is the "slusher" of the underground mine, as well as the "dragline scraper" of the sand and gravel industry, and other open-pit mining operations.

Jan 1, 1938

By John L. Watson

A conceptual model (MAGSEP) is described to simulate the beneficiation characteristics of a drum magnetic separator in terms of the probability of an individual grain being recovered in the magnetic concentrate. This probability is determined as a function of particle magnetic composition and magnetic field strength and is modified by particle size and the separator operating conditions. The model predicts the size, magnetic grade and distributions of magnetic and gangue minerals in the concentrate and tailings produced by the drum separator. The configuration of the magnetic concentration circuit may be altered to permit single or double drum units in parallel or series operation. The characteristics of the feed material, in terms of a magnetic parameter, are essential in permitting the determination of individual grain recovery probabilities upon which the model is based. Thus the model requires input data relating to the distribution of composite grains in terms of magnetic grade and particle size. To illustrate the use of the conceptual model an example is given for the beneficiation of New Zealand iron sands.

Jan 1, 1984

By R. B. Toombs

The national and international importance of Canada's minerals and metals producing industry is reported. The growth of the Canadian industry is traced from 1945, through the period of rapid development of the early 1950's, to the consolidation and expansion activities of the late 1950's and early 1960's. Mineral production in Canada during 1963-including steel, nonferrous metals, and fuels -is reported. It is estimated that by 1970 the Canadian industry will produce $3.9 billion worth of metals, nonmetals, and fuels.

Jan 8, 1964

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

A. L. FIELD, Cleveland, Ohio (written discussion*.-)In equation 2, B is used to denote the ratio of bases (lime plus magnesia ) to acids (alumina plus silica) it being stated that this ratio gives more concordant results than the ratio either of bases to silica, or of lime to silica. I find, however, that, by making use of the ratio between true CaO (CaO by analysis minus sulfur calculated to CaS) to acids, equation 2 may he modified to agree with the observed facts within an average error of 0.0041 per cent. sulfur instead of 0.0045 per cent. The revised equation is s = 0.072 + 0.01835 - 0.00061 (t - 1400) - 0.0403B where B is the ratio of true CaO to Al2O3 Plus Si02, and the other symbols have the same significance as before. I would not appear to stress too much this slightly better agreement of the revised equation with the observed sulfur. Yet I believe that the use of this ratio of true CaO to acids is to be preferred, if for no other reason than the fact that it is more in harmony with the previous findings of the Bureau of Mines with regard to the effect of magnesia and other impurities on slag viscosity.1

Jan 12, 1919

With the signing of the armistice on Nov. 11, the direction of the main concentration of effort of the United States was changed. In order to win the war, all industrial efforts had to be organized and centralized. With the war won and peace in sight, this centralization of effort stopped and the full play of individual initiative was allowed to resume its sway in the community. During this period of reversal of direction of effort, there was a natural loss of momentum and the United States, as well as the rest of the world, is in for a period of readjustment. The immense progress that was made in one direction under the stress of the necessities of war, which focused the energies of a nation in one direction, is an outstanding example of what can be accomplished if a community with many varying interests can be united on one objective which it desires to attain. The realization that the fusing of many interests into one stream of effort is difficult should not prevent us from taking the long view ahead that is necessary in order to be able to measure the progress made. If we don't have a mountain peak to guide us, we are very likely to run in circles in the plain without reaching the goal to which we strive. The most efficient development of natural resources is an ideal that, from a material point of view, appeals to the engineer. This ideal includes giving of opportunities to everyone to take a share in the development of these resources.. It also contemplates rewarding foresight

Jan 4, 1919