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By Granville S. Borden

TAXES in general are onerous and are not a pleas- ant subject for discourse. There are, however, some very cogent reasons why we should dedicate a part of our thoughts and services to the solution of our taxation problems: The happiness of every individual in the United States depends on the maintenance of a stable government. The collection of taxes is an indispensable function of a stable government, and the power to collect taxes depends in part on the question whether taxes are fair and equitable. As representatives of the mining industry it is our duty to .protect it from tax burdens that are discriminatory or- unjust, As citizens we find that taxation is incessantly endeavouring to unravel the knots in our purse-strings. Many members of the Institute may be consulted .by clients on taxation problems, especially the phases which re- late to depletion and valuation. It is the hope of the writer that the discussion of some of the current depletion and valuation problems will stimulate interest in the problems, and as a consequence of this new interest facts will be ventilated, opinions rendered and services performed, which will be a means of solving the problems to the satisfaction of all parties interested.

Jan 1, 1929

By Robert J. McKay, F. P. Huston, WILLIAM G. HUMPTON

THE manufacture of nickel-clad steel plate and the fabrication of articles from it has progressed far enough to permit a general description of the working methods used. The manufacture of sheets made up of layers of nickel and steel is not new as a sheet of this character was patented in Germany in 1893. Present development differs mainly in the size and finish of the product. The earlier light-gage highly finished products have been limited in their application due to their similarity, in certain respects, to electro-plated and highly finished alloy sheets. The new product is a relatively heavy plate 1/4 or 3/s in. thick and heavier, with one side coated with nickel, the weight of nickel being of the order of 10 per cent of the whole. The finish is that of hot-rolled steel plate.

Jan 1, 1931

By Harold G. Moulton

IT is highly significant that engineers should seriously consider the interrelations of technology, economics, and government. It is indicative of the emergence of maladjustments and problems that perplex our thinking and frustrate our activities. Instead of a world in which scientific discoveries and their applications through engineering to the processes of wealth production are regarded as the royal road to progress, we now find science and engineering being made responsible, in no small degree, for our economic and social troubles; and the powers of government are even being invoked to stem the tidal wave of technology. Indeed, there is a deep-seated fear, manifested in the writings of some of our greatest scientists as well as in popular discussions, that science may destroy our civilization.

Jan 1, 1938

By M. Albertson

UNITED STATES petroleum pro-dU6tion during 1937 materially exceeded? that of any previous year. Firm control of the production rate was maintained under State and Federal laws and aided by the' Interstate Compact. During the first ten months," crude oil prices were stable, except for a slight increase early in the year. Toward the end of the year, uncertainty of price structure be-came evident and a sharp reduction in allowable production was under way. Exploration for new pools and development of .pools already discovered continued active throughout the year. Production control agencies in Texas, and to a less extent in New Mexico and Louisiana, appear to have had increasing difficulty in holding crude oil output to allowable limits. The situation elsewhere is less well known but probably the same condition exists in other important producing States whether control is by State commissions or by unofficial bodies.

Jan 1, 1938

By Peter K. Strangway

During 1973, a 20,000 net ton (18 100 metric ton) formcoke test was carried out at Inland's 26.5-foot (8.08-meter) hearth diameter on NO. 5 Blast Furnace. The formcoke briquettes were produced from Elko1 coal by FMC at their pilot plant in Kemmerer, Wyoming. The briquettes were shipped to Inland in open railroad cars and most of them were placed in an outside storage field until a sufficient amount was available for the actual blast furnace test. The test consisted of three phases: an initial four-week base period; the actual 33-day formcoke test period; and a final three-week post-test base period. During the formcoke test period, the regular coke skip loads were gradually replaced with skips of formcoke until, after a three-week period, the replacement ratio reached 80%. The furnace operated smoothly and quality hot metal was produced. The burden remained permeable and it was possible to maintain wind rates 9 of over 100,000 scfm (47 Nm3/s) without significant blast pressure increases. Dusting from the formcoke was not a problem either in the stockhouse or in the top gas. The formcoke briquettes maintained their original shape and density as they descended through the furnace. When the 80 percent replacement level had been reached, the inwall temperatures became higher than normal (about 2000 ºF (1090 ºC)) and followed an unusual steady pattern. In addition, the top gas temperature became higher than normal, and the hot metal analyses and temperatures began to fluctuate unacceptably. In general, it is felt that the high inwall temperatures were a result of channeling of the hot furnace gases along the stack walls. This channeling appears to have been promoted by a change in distribution of the burden in the top of the furnace which, undoubtedly, was caused by the increased increments of formcoke. Since it was felt to be unsafe to operate the furnace for an extended period of time with the inwall temperatures at the high level, a decision was made to remove the formcoke from the furnace. When this was done, the inwall temperatures returned to normal. Once the inwall temperatures had returned to normal, the remaining 3,800 net tons (3450 metric tons) of formcoke were used in the furnace at a nominal 40% replacement level for five continuous days. The furnace operated smoothly during this period, and the results were representative of satisfactory furnace operation with partial replacement of regular coke with formcoke. The test was successful in proving that formcoke can replace up to about 50% of the regular coke in a large furnace operating at high wind rates. However, additional work will be required to develop acceptable charging practices for using higher levels of formcoke replacement.

Jan 1, 1977

By H. Kenworthy, M. M. Fine

The progress made to date in the mineral dressing of complex Arkansas titanium ores is reported in this paper. Concentrates of rutile, a dioxide of titanium, were produced by treating a submarginal ore from the Magnet Cove Rutile Co., Inc., Magnet, Ark. The rutile recovery at present is 45 to 50 pct of the total TiO2 with the possibility of increased recovery with additional research. The work reported herein is part of a general study which will later include results of investigation of other titanium ore bodies in the Magnet, Ark., area. The fragile character of the rutile minerals, the softness of the gangue, the occurrence of pyrite and leucoxene, and the considerable proportion of extremely small size rutile in the presence of montmorillonite- and illite- type clays in the Magnet Cove open-pit mine are the important factors in the mineral dressing of this submarginal rutile ore.

Jan 1, 1949

By Carl Scholz

Discussion of the paper of Carl Scholz, published in Bi-monthly Bulletin, No. 22, July, 1908, pp. 551 to 559. HOWARD N. EAVENSON, Gary, W. Va. (communication to the Secretary*) :-For some time before the publication of Mr. Scholz's paper, I had been collecting data bearing upon its subject, and I now take pleasure in presenting my results to the Institute in the form of a discussion. It has long been a matter of common opinion among mining-men that mice-explosions are, more frequent during the colder, or winter months, than during the warmer ones, and it is a matter of common knowledge among them that the air-ways and road-ways in most mines are much drier and are more in¬clined to be dusty during the winter than during the summer. In many mines, places which are wet and sloppy in the summer are dry and sometimes dusty during the winter. These changes, of course, can only be due to atmospheric conditions, and are caused by differences in temperature and humidity. Until recently, however, very little attention has been paid to the part that atmospheric conditions may play in mine-explosions, or, rather, to the effect they may have in rendering mine-conditions peculiarly dangerous, and in spreading and rendering more disastrous the effects of what would otherwise probably have been .small explosions. To show the difference in mine-conditions during sunnier .and winter months, I have tabulated in Table I. the results of 24 observations of hygrometric conditions in several different mines at different times of the year. Mines Nos. 1, 2, and 6 are located in the Pocahontas.coal -region, in McDowell couuty, W.Va., the first one being a shaft-mine shaft mine and the others drift. Mines 1A and 2A are drift-mines located in Logan county, W. Va. All of these are mines of fair size, but none of them has been in operation more than six years,

Jun 1, 1909

Jan 1, 1920

By AIME AIME

FIVE days, extending from Monday, Feb. 18 to Friday, Feb. 22, inclusive, will be required for the annual meeting this year. The first fours days will be devoted to reading and discussion of papers, general and committee business meetings, two lectures, luncheons, dinners and all the pleasures of a big, general reunion. The fifth day will be given over to an all-day excursion for both men and women by special train to West Point, in celebration of the birthday of the first President of the United States. Washington having been an engineer and now after one hundred and thirty-one years the country having selected as President another engineer in the person of Herbert Hoover, our own past president and honorary member, it is proposed to celebrate with a good old-fashioned picnic and inspect the school. The authorities at the Military Academy have undertaken to welcome the engineers and do whatever they may to make our pilgrimage notable. Other social features planned for the week are numerous. Luncheon will be served as usual at the building each day of the meeting to all members and guests. This year a very nominal charge will be made, primarily to overcome deficits due to irregular attendance. Monday noon, the Non-metallic Minerals Committee will lunch at the Engineers' Club and in the evening the Milling Methods Committee will dine there. The Annual Smoker will be held at Hotel Astor after dinner. Professional entertainment of high order is promised, but not too much to interfere with the numerous group reunions that characterize this func- tion.

Jan 1, 1929

By R. J. Wasilewski

Elastic constants have been determined on single crystals of maximum-melting-temperature NiAl compound (50.6 at. pct Al) at 25°C. Temperature variations of Young&apos;s modulus in the three principal crystal directions between -150°C and +800°C exhibit no anomalies similar to those repovted for the isomor-phous compounds brass and AuCd. It is concluded that the ordered CsCl structure is stable throughout the temperuture range investigated NICKEL aluminide is a congruently melting inter-metallic compound of CsCl (B2) structure, stable over a rather wide composition range (40 to 54 pct Al). It exhibits a lattice-parameter maximum of a. = 2.883A at 50.6 pct 1,&apos; at which composition the excess aluminum atoms are randomly distributed on the vacant nickel sites;&apos; at higher nickel compositions the excess nickel atoms replace substitutionally in aluminum sites, while at higher aluminum compositions vacancies are present in the nickel sublattice.&apos; For compositions close to NiAl no significant variation in order has been observed at temperatures up to 900°C.3 At high nickel (65 pct) compositions the existence of a martensitic structural transformation has been reported.4 NiAl is isomorphous with the ordered B-brass structure and with the high-temperature structures of AuCd and TiNi alloys close to equiatomic composition. All of these exhibit anomalous elastic behavior as the temperature of their diffusionless transformation to lower-symmetry structures is approached.&apos;-&apos; This behavior has been explained as indicative of low stability of the CsCl structure in these compounds.8 The present paper reports the experimental determination of the elastic compliances of single-crystal NiA1. EXPERIMENTAL METHOD 1) Specimens. Polycrystalline NiAl was prepared by induction melting of carbonyl nickel and high-purity aluminum and casting into solid copper molds in gettered helium atmosphere. The castings thus produced were canned in mild steel and impact-extruded at 1100 to 1200°C to 38-in.diam rod. After the steel sheath was pickled off, the rods were converted to single crystals by repeated high-frequency satisfactorily produced the desired orientations in the form of crystals 38 in. diam by 8-12 in. long. These were subsequently center less-ground to 7 to 8 mm diam by 12 cm long, electropolished (in 80 pct methanol, 20 pct HzSO, at 25°C and 15 v), and their axial orientation determined to 1 deg by the Laue back-reflection technique. The rod dimensions were determined to 0.01 mm and the densities determined from geometrical dimensions and the weight of every specimen. The average density was 5.905 0.005 g per cu cm. 2) Elastic Data Measurements. Room-temperature elastic compliances Sii were obtained by determining to 0.1 cps the fundameGtal resonance frequencies in the longitudinal and torsional vibration modes. At these frequencies the following relations hold: E =p(2lfif =pvl= Sn- 2r[Sll- S12- -£„«] g -P(2iftf = pvf = (s<« - fr(sii - sw - ±s»y where vl and vt are the velocities, and f andft the resonance frequencies of the longitudinal and torsional waves, respectively; 1 is the length of the specimen, and r is the direction cosine factor—{cos2 a • cos2 0 + cos2 a . cos2 y + cos2 0 ¦ cos2 Y}. Given three crystals of orientations (loo), (110), and (111)) i.e., F = 0, 14, and 13, we can obtain six equations for the three unknown compliances, thus providing adequate internal check. Mode mixing can readily occur in the relatively long wavelength resonance utilized here. This could cause a significant error in the torsion wave velocities calculated from the apparent resonance frequenies. Therefore, throughout the present work, a method, described previosl,&apos; was used to ensure that no significant mode mixing took place at resonance. The apparatus used was originally designed for the Elastomat, Magnaflux Corp.. Chicago, 111. determination of flexural vibration resonance frequencies. At room temperature torsional vibration mode could be established by suitable positioning of the thin wires from the input and pick-up transducers, and longitudinal mode by cementing thin magnetic foils at the ends of the specimen, and inducing the vibration by means of electromagnetic transducers. Only flex-ural resonance frequencies could, however, be obtained reproducibly over the temperature range of -150 to 800°C. These data are considerably less accurate, the error in the modulus being estimated at -0.6 pct from the specimen dimensions and the room-temperature Poisson&apos;s ratio. The reproducibility of the resonance frequencies in repeat runs was, however, to better than l in 15,000, hence the relative elastic modulus error less than 0.02 pct. Therefore, the temperature variation of the principal Young&apos;s moduli obtained by flexural resonance, relative to room-temperature values, is believed to be satisfactorily accurate.

Jan 1, 1967

By Jack C. Haptonstall

This paper describes the analytical characteristics of Western subbituminous coal and the manner in which these characteristics apply to their use in a utility-sized steam generator. It compares these characteristics with those of typical Midwestern coal and Eastern bituminous coal. The paper also reviews in detail the design considerations that must receive attention when various blends of these three coals, or any combinations thereof, are planned to be used. This research paper describes variations in analytical and utilization characteristics when coals from different origins are blended in order to achieve a predetermined sulfur content for the purpose of predicting sulfur oxides emissions as they affect environmental regulations and the resulting alterations in utilization characteristics such blending would cause, and how such blends of coal would affect a utility-sized steam generator.

Jan 1, 1979

By F. A., King

THE problem of the proper size and capacity of the open-hearth furnace has been a predominant issue ever since its inception some sixty years ago. The original furnaces, built in 1868 at Landore, England, were only to 3 to 4 tons capacity, and from&apos; this there has been a steadily increasing and almost uniform rate of expansion until furnaces producing 300 tons are in successful operation today. At the end of the first half of this 60-year period, or about the year 1900, 50-ton furnaces we&apos;re common. Up to this time the problems of expansion had been largely those relating to suficient capital and the engineering development of larger units. But as 75, 100-ton and larger furnaces were proposed apprehension grew and other questions assumed leading consideration.

Jan 1, 1928

By Oliver Bowles

A NORTH CAROLINA miner dreamed that he found high-grade mica by excavating a certain corner of his mine. The next day he sank a hole on the exact spot and found mica of excellent quality. The dream came true. May not this be as good a method as any yet known for forecasting the valuable mineral content of pegmatites? The Federal Geological Survey has found in its recent detailed studies in New England that good sheet mica occurs most abundantly in zoned pegmatites, particularly in zones lying along the wall or contact of the pegmatite mass. Although this conclusion may be a valuable guide, pegmatite mining operations must still be classed as most uncertain and hazardous enterprises. Finding of the second largest diamond ever discovered in the United States-a stone of good gem quality weighing more than 34 carats-during the course of a horseshoe pitching contest at Peterstown, W. Va., is another example of unorthodox mining methods. These should not be considered, however, as characteristic mining methods developed in 1944.

Jan 1, 1945

By S. J. M. van Leeuwen, R. Feenstra

The effect of jets on bit penetration has been investigated by means of a 50-ton drilling machine and 8½-in. commercial jet bits, drilling under representative bottom-hole conditions. The conclusions apply to the drilling of impermeable rock only. Penetration rate is in all cases primarily hampered by a differential pressure effect, known as dynamic hold-down. Jet action can reduce this slightly. Major gain in penetration rate, up to 25 or 50 per cent, is already ohtained at medium-high jet power. At high bit load, penetration by soft to medium-hard-formation bits is further hampered by bit-balling. Its alleviation requires intensive tooth scavenging, which is best performed by slanted nozzles with trailing, high-velocity, high-volume jets, hitting bottom in front of the teeth. Penetration may then improve by a 100 per cent. At high bit load, bottom-balling limits the penetration of insert-type bits. In this case bottom scavenging is required, which is most effectively performed with high velocity jets from nozzles extended close to bottom. As a result of this measure, penetration may improve 70 per cent in non-friable rock, and less in friable rock. This will make the insert-type bit more versatile. Toothed hard-formation hits suffer at high bit load from both bit- and bottom-balling. Slanted nozzles, possibly much extended, with high-velocity, high-volume jets then have best prospects. INTRODUCTION For years the use of jet bits in oil well drilling has been increasing, in conjunction with ever greater hydraulic horsepower. To the same extent, the need for efficient use of the horsepower has grown.&apos; This paper, it is hoped, will contribute to an understanding of how effective jet action may be obtained. It deals with the effect of jets on phenomena that are known&apos; " to hamper bit penetration. To study this effect, laboratory drilling tests were performed with 8½-in. commercial bits under bottom-hole pressures representative of deep wells. The investigation has been restricted to the drilling of practically impermeable rock. In the following sections, the increase in bit penetration rates due to jetting is discussed for conditions which made the troublesome phenomena stand out one at a time. A brief definition and interpretation of these phenomena is given in Appendix A. Appendix B gives the results of measurements of fluid velocities along the hole bottom, performed in stationary flow tests. Descriptions of equipment, bits, rocks and mud are collected in Appendix C. Unless otherwise mentioned, drilling conditions were kept standard as given in Table 1. CUTTING TRANSPORT TO THE ANNULUS Jet action was for some time believed to merely improve the transport of cuttings from bottom to annulus, resulting in a clean hole bottom. Flow tests performed in 1954 at the Battelle Memorial Institute6 showed, however, that jet velocities of the order of 40 ft/sec sufficed to clear even large (0.4-in.) chips from bottom in the time between two successive tooth actions. In the field, optimum jet velocities are appreciably higher, indicating that other effects must be involved. This much is confirmed by the results of our drilling experiments in soft rocks performed under atmospheric pressure, i.e., in absence of pressure-differential effects. Fig. 1 shows that variation in the nozzle velocity from 40 to 330 ft/sec had no effect on penetration rate, unless the bit penetrated more than 7 mm per revolution, which is about half the tooth height. At such high rates—150 ft/hr at 100 rpm—cuttings would be caught in the tooth cavities, leading to bit-balling, which was noticed on inspection of the bit. The jets thus assisted in keeping the tooth cavities clean. This is just perceptibly reflected in the penetration-rate curves of Fig. 1: Much the same results were obtained in hard rocks with hard-formation three-cone bits. The conclusion is that transport of loose cuttings towards the annulus does not require a powerful jet action. In the following sections we shall see that in deep-well drilling other phenomena are of greater importance. DYNAMIC HOLD-DOWN It is generally accepted that, in deep-well drilling, bit penetration is hampered primarily by the existence of a difference in pressure between the fluid in the hole and that in the rock at the depth of cutting.2-5 In the drilling

Jan 1, 1965

C. Edward Stafford, Chester, Pa.:—Doring all my business life, I have been engaged in the manufacture of Bessemer and open-hearth steels, but, during my long connection with the Shoenberger Steel Co. of Pittsburg, I had some experience in the manufacture of high-grade puddled iron for horseshoes, and in making, by Dr. Otto Wuth&apos;s process, extremely pure, low-phosphorus puddled blooms (analyzing from 0.005 to 0.01 per cent. of phosphorus and sulphur), which were melted with low-phosphorus pig-iron in acid open-hearth furnaces, to make extra locomotive fire-box steel. I have also seen the Danks puddlers in operation at different times and places, notably where they were most successful, at the Otis Steel Works, Cleveland, Ohio; then under the management of our friend, Mr. S. T. Wellman. These Danks blooms were made solely for open-hearth melting-stock, to which they were well adapted. (The unavoidable presence of bits of ore-fix imbedded in the mass of the metal always prevents the profitable manufacture of merchant iron from Danks&apos; blooms.) With the experience just described, I was to some degree in position to value fairly the means, methods and results of Mr. Roe&apos;s mechanical puddling from the metallurgical or technical and economic points of view, when given an opportunity by Mr. Roe to see his puddling-furnace or machine in operation in Pottstown, Pa. Briefly, the furnace, with water-cooled bottom, is rectangular in plan, about 20 by 8 ft. in the clear, suspended by trunnions at the middle of the long sides, at a height of 17 or 18 ft. above the general level. The oscillation (65" each way from the vertical) is accomplished by geared segments (attached to the downward-projecting side or trunnion-plates) with which engage pinions driven by a reversing engine. The whole section

Jan 1, 1906

By J. F. Myers

A bit of old philosophy: The optimist, the pessimist, The difference is droll; The optimist, the doughnut sees, The pessimist, the hole. This is a neat summation of the viewpoint of those engaged in "treating the crude mineral crust of the earth." Many of those in high places have reminded us during the year of the diminishing supply of the resources so essen-

Jan 1, 1948

By Marius R. Campbell

Does mine-sampling show the commercial value of a coal, and if so, how should it be done? This question is often asked, but seldom answered. During the past summer, while engaged in securing coal for the Government coal-testing plant at St. Louis, I had an excellent opportunity to obtain information on this subject, and the results seem to furnish an answer to the questions propounded above. Sampling for the Geological Survey Coal-Testing Plant. In organizing the work of the testing-plant, it was decided that coal in car-load lots only would be accepted for testing, also that this coal should be loaded under the immediate supervision of a representative of the plant, so as to be certain that the car-load sample would be representative. As an additional check on the work, two mine-samples were to be collected from each mine visited, and these samples, as well as the sam¬ple from the car when it was received at the testing-plant, were to be carefully analyzed at the chemical laboratory, which was established in connection with the plant and operated under the direction of Prof. N. W. Lord, of the Ohio State University, Columbus, Ohio. Mine-Sanmhling:-Mine-samples were collected with great care by me and my assistants, Messrs. J. Shober Burrows, John W. Groves and Frank W. De Wolf. The dominant idea in the regulations which were adopted for mine-sampling was that it should be done in such a manner that the sample would have the same composition as the commercial output of the mine. .

Sep 1, 1905

By Howard C. Dunkle

Various factors can affect the quality of B1112 and B1113 steel as produced in a bessemer plant; among them: vessel-charging practice, blowing practice, ingot-pouring practice, ingot delivery-time practice, pit-heating practices, and ingot-rolling practice. Evaluation of the influence of ingot delivery time on quality has been chosen as the subject for this paper because this time is completely within the control of the operator, and on this particular factor there is a tremendous amount of information in the dusty archives of the average steel plant. In order to know how much improvement can be made and when attention should be directed to other factors that influence quality, in the continual struggle for improvement, the effect of ingot delivery time must be accurately evaluated. Once this is done, the importance of other variables can be accurately obtained, thus eliminating the necessity of resorting to opinions that are of doubtful value at best. In the study described herein, extensive use was made of the statistical card system as a method of determining the effect of ingot delivery time as a quality factor in bessemer screw-stock grades by simple direct correlation. The value of this statistical method as a means of accurately determining the influence of various factors has been amply demonstrated by Work1 for the bessemer process and by Hand and Gould2 and Fetters and Chipman3 for the open-hearth process. The quality records of 300,000 tons of bessemer screw-stock billets were used in this study of the effect of ingot delivery time on the rejections for breaks, pipe, check and seams. The reduction in the number of rejections for poor quality reduces the costs and increases the productivity per man-hour. The operator today, more than ever before, must know how to keep costs down, how to do it most quickly and in the best way, and how to obtain the highest quality in line with the ever increasing demands of the customer. It is necessary for him to know the individual relations and interrelations between various factors affecting the quality of the manufactured product if he is to produce material that will meet competitively the cost, performance, and quality demands of the trade. SIGNIFICANCE OF STEEL MANGANESE, MIXER SILICON AND STEEL SULPHUR AS QUALITY FACTORS In order to obtain the highest grade of material it is necessary to control many factors-not just one or two, as operators

Jan 1, 1945

By Jack C. Haptonstall

Abstract-Minas de San Luis, S.A. operates the old Tayoltita mine located in the Sierra Madre Occidental in Durango, Mexico. Yearly production is 55 000 kg (1.7 million troy ox) of silver and 1000 kg (31,000 troy ox) of gold from milling 165 000 t/y (181,900 stpy) obtained from fissure veins. A 4.4 km (2.75 miles) adit, to intersect the veins below existing workings, was completed in 1974. The adit and ancillary projects facilitated extensive mechanization of the mine, ramp development of it, integration of duplicate facilities and elimination of obsolete facilities. It provided a deep-level access for exploration and development of the veins, and resulted in a 25% increase in production with the same labor force. The cost of the in-house financed project was $3.4 million.

Jan 2, 1978

By Arthur Notman

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

Jan 1, 1939