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By Archer E. Wheeler, Milo W. Krejci

There are two general methods in use for the production of metallic copper from matte which are worthy of consideration : (1) the Welsh blister process, and (2) the converter process.' As practically all of the copper produced to-day is made in converters, we will give a brief outline of that process before proceeding with the special subject of this paper. Matte may be roughly defined as a mixture of the sulphides of copper, iron, nickel, silver, etc. In the converter process this is blown up to metallic copper in a modified type of Bessemer converter. The conversion of matte consists mainly in, (1) the removal of sulphur in the form of SO2, and (2) the slagging of the iron. With this brief statement we come to the two subdivisions of the process of converting mattes: Converting with acid linings. Converting with basic linings. Converting with Acid Lininys, This is carried out by lining the converter with siliceous rock or ore, which performs two functions: It protects the iron shell of the converter from the molten charge, and it furnishes the silica for combining with the iron as it is oxidized from the matte, to form a ferrous silicate. It follows from the second of these functions that this siliceous lining must be replaced from time to time, and in practice it has been necessary to reline converters every 8 to 40 hr., this time varying in different plants and even with different linings in the same plant, the life of a lining depending upon the grade of the matte treated, and upon the composition, the thickness, the tamping, and the drying of the lining.

Jan 1, 1914

R. W. Balluffi (Atomic Energy Div., Sylvania Electric Products Inc., Bayside, N. Y.)—Since porosity is known to form in the copper side of Cu-Ni couples during diffusion24,25 it is of importance to consider this factor in interpreting the large variations of chemical diffusivity with copper concentration reported for this system. The presence of porosity may affect the measurement of D in two ways: 1—density changes in the couple invalidate the usual solutions of the diffusion equation, and 2—the pores may act as short-circuiting paths when transport through the vapor or along internal surfaces is appreciable or else as open circuits when these effects are small. The error produced by the first effect may be estimated by a graphical analysis. Fig. 8 shows the porosity generated in the copper side of the Kirkendall interface of a pure nickel vs pure copper couple after diffusion for 350 hr at 1040°C in hydrogen. In Fig. 9 the actual diffusion curve which would be obtained by the usual slicing technique is shown as a solid line drawn to the same scale (from the data of da Silva and Mehl"). The amounts of porosity (obtained by lineal analysis) and of nickel are graphically represented by the hatched areas. The standard solutions of the diffusion equation are valid only when all volume elements of unit length and unit cross section contain equal numbers of atoms." It is possible to correct the experimental curve to satisfy this condition by shrinking the couple in the direction of diffusion in such a way as to eliminate the porosity.* The corrected diffusion curve obtained after

Jan 1, 1954

THE discussion at the annual meeting of the paper on "Devices for Detecting Dangerous Gases in Mine Air" (published in. MINING AND METAL-LURGY, February 1, 1927, p. 69) was prefaced by the following description of a new portable methane indi-cator, presented by D. C. Ashmead: Two comparatively recent disasters in Utah are directly responsible for the perfection of the new methane detector. The first of these occurred on May 1, 1900, when 200 work-men lost their lives. The second disaster did not occur for more than two decades, when, on March 8, 1924, at the Castle Gate Mine No. 2, 172 workmen were killed. A dis-sembled safety lamp was later found at the seat of the ex-plosion. This indicated, as a possible cause, that the safety lamp had gone out and the fire boss had tried to relight it. These two disasters brought, the mine operators of the State of Utah to the concentrated attempt to end the loss of life through mine explosions. The Governor of the State appointed a committee, known as the Utah Mine Op-erators Committee, to study the phases of the problem, and this Committee in turn enlisted scientists all over the country in cooperative research. One group, under the direction of E. K. Judd, of the Union Carbide and Carbon Research Laboratories, of Long Island City, New York, concentrated its efforts on develop-ing a methane detector which would be completely ade-quate. This is now successful, since in laboratory as well as actual coal-mine tests the apparatus has instantaneously and accurately detected the presence of extremely small amounts of methane.

Jan 3, 1927

By Mowry Bates

The following example of the practical application of engineering geology is of interest in that it demonstrates the advantage of keeping accurate records of all wells, whether drilled by onn's self or by others, together with the advantage gained by gathering such data during the process of development. The fault described was found in the autumn of 1915, during the hurried development caused by the discovery of the famous Gusher Bend pool in Red River Parish, Louisiana. The writer was at the time employed by one of the operating companies as geologist, and the example is a portion of the routine work. Location The oil fields of northern Louisiana and east Texas are located in Caddo, Bossier, De Soto and Red River Parishes, Louisiana, and Marion County, Texas. A very narrow strip of the eastern portion of the latter is productive. The producing oil pools are known as the Caddo Field, in the northern part, and the De Soto-Red River Field, in the southern. The two fields are 60 miles apart. There are several gas fields between them, but no important supply of oil has been found, though there are several producing wells in the Anona chalk, locally called the Chalk Rock, in the Elm Grove gas field in Township 16 North, Range 11 West (see Plate 1). General Geologic and Structural Features The general geology of northern Louisiana has been excellently described by A. C Veatch in Professional Paper No. 46, U. S. Geological Survey; by G. D. Harris, Bulletin No. 429, U. 8. Geological Survey; and later by George C. Matson and Oliver B. Hopkins in Bulletins No. 619 and 661C, U. S. Geological Survey.

Jan 1, 1920

By Rossiter W. Raymond

The manufacture of ferromanganese in the blast furnace having been the subject of considerable attention in the Institute, I beg to put on record a contribution to the discussion from a quarter hitherto not directly represented, namely, the St. Louis furnaces, near Marseilles in France, belonging to a company of which M. Jordan, a member of the Institute, is Managing Director. These furnaces commenced in 1862 to manufacture specular pig (fontes facettes) containing from three to six per cent. of manganese. In 1864 the regular production of spiegeleisen (fontes miroitantes), containing seven to ten per cent. of manganese, was inaugurated. At that time the Rhine was the only locality of this manufacture, and the Bessemer works of England and France obtained from Gernlany all their spiegel. From 1864 to the present time, the St. Louis furnaces have been advancing steadily the percentage of manganese in their product. From ferromanganese of thirty per cent. they had arrived, about two years ago, at a product containing seventy to seventy-five per cent., and for some time past they have been turning out what, as M. Jordan remarks, may fairly be Termed fonte de manganese, or manganese pig, instead of iron, since the percentage of iron it contains is not more than 8.5, while the percentage of manganese is 85, or ten times as great. This very high grade material has a peculiar appearance, entirely different from that of ordinary cast iron or spiegel. It is granular, and steely gray in color. The following analyses, communicated to the Sociètè des Ingenieurs Civils, by M. Jordan, show the composition of various products of the St. Louis furnaces:

Jan 1, 1879

By W. L. Grose, J. E. Nealy

A device developed by the U.S. Bureau of Mines for the detection and quenching of coal mine explosions suffers from the inability to discriminate between the light emitted from hydrocarbon combustion and that emitted by electrical sparks and miner's cap lamps1. Since the quenchant device is activated by an internal explosive charge, the possibility of serious injury to nearby personnel demands a detector which can reject false signals. Described herein is a detector which can provide a rapid response signal upon the emission of radiation from hydrocarbon combustion and concurrently reject spurious signals from such sources as sparks and cap lamps. It was suggested that a detector might be developed to operate on the principle of monitoring the radiation intensity emitted from two separate spectral regions and ratioing the intensities2. A series of experiments was conducted for combustion of methane-air mixtures which demonstrate the ability of such a detector to discriminate between combustion and spurious signals. Experimental Apparatus A cylindrical (3.8 in. diam by 12 in.) stainless-steel shock tube test section was used as a combustion chamber. The test section was equipped with quartz windows (2 in. diam) on either side, a piezoelectric pressure transducer, and two steel electrodes. A 10-kv capacitor discharged across the electrodes provided a submicrosecond duration spark to ignite the gas mixture within. The desired partial pressures of methane and air were obtained by using a Wallace and Tiernan 0-800 mm Hg pressure gauge with which pressures could be determined to an accuracy of % mm Hg. All tests were conducted with a total pressure of 1 atm in the chamber. To

Jan 1, 1972

By Stein Wennberg, Snorre Tessem

INTRODUCTION The mine is situated in the middle of Norway 150 km north of the town Trondheim. The iron ore deposits were discovered in 1906 and have been continuously mined since. The first owner was A/S Nordiske Grubekompagni. In 1912 Fosdalens Bergverks-Aktieselskab was established; since World War II it has been a wholly state-owned company. The location is advantageous, with mining facilities, ore dressing plant and stockpile situated near the northern head of the Trondheimsf jord. The iron ore always occurs in Ordovician lavas and sediments, now altered to greenschists, keratophyres and limestone. The ore bearing zone is 150 km long. The deposits consist of two parallel linear ore bodies lying one above the other in the same stratigraphic horizon which dips 70' to the south. The upper body is 50-100 m high, the lower one 250 m high, while the distance between the two bodies in the East mine varies between 20 and 60 m. The ore width varies between 5 and 8 m. The ore bodies strike WSW and plunge between 10' and 15" in this direction. To date continuous ore has either been worked or opened up along a total strike length of 10 km. Until 1969 all ore was mined in the western part of the deposit called the Western mine. In the spring of 1969 production started in a new mine, the Eastern mine. The ore bodies in this new mine are geologically the same as in the old mine, but they have been displaced 700 m downwards along a major fault in the Fosdalen valley.

Jan 1, 1981

By J. H. Bowden

The shaft-plant here described was put in operation in September, 1895, and the No. 6 slope-motor was started in May, 1896. The plant comprises : One Norwalk three-stage compressor l21/2, 91/2 and 5 in. diameters of air- and 20 in. diameter of steam-cylinder, all 24 in. stroke; capacity at 100 revolutions, 296 cu. ft. of free air per minute, compressed to 600 Ibs. per sq. in. A main pipe, 5 in. diameter, 4380 ft. long, with five charging-stations in No. 6 Shaft, and a branch of 3 in. pipe, 3100 ft. long, with three charging stations, in No. 6 Slope. These pipes on each line charge a Porter compressed-air motor, with 7 by 14 in. cylinders, and four 24 in. drivers, weighing about eight tons, with a tank-capacity of 130 cu. ft. of air at 550 lbs. pressure in the main tank, reduced to 160 lbs. in the 8-in. auxiliary tank of 4.2 cu. ft. capacity, supplying the cylinders. The No. 6 shaft run averages 4000 ft. each way on grades of $ to 23/4 per cent., and averaging close to one per cent. in favor of the loaded cars. The No. 6 slope run averages 2100 ft. with nearly the same grades. The mine-cars weigh 2800 Ibs. empty, and about 9800 lbs. loaded, and are hauled in trips of 12 to 20, averaging about 15 cars. The shaft-motor now hauls about 355, and the slope-motor 320 cars per day of 10 hours, replacing in the shaft 17 mules, and

Jan 1, 1901

By J. J. Beeson

For the past fifty years or more, the structural features of the Cordil-leran mountain system of western United States have presented some most interesting problems. Any geologist or engineer living in this region, or even making occasional examinations of the mines, will lose much of interest and importance if he is not familiar with the literature. Some of the greatest works on geology have been the result of studies carried on in sections of this region. Among the more important of the earlier works are those of Dutton,l King,2 Gilbert3 and Powell;4 of the more recent Lindgren,5 Ransome,6 Spurr,7 Butler8 and others have contributed much. Many of the papers are largely of scientific interest but even these lay the foundation for the commercial application of the broader features of the geology. I have read many of these works with the keenest interest and pleasure; in fact, some have been read until some of the more important findings seem to be my own. In this paper, however, it is my aim to accept credit for little more than the labor of assembling some of the ideas of others. This is done with the hope that an interesting and valuable discussion will be the result. If some of the ideas presented should

Jan 1, 1927

By D. C. Shelton

Eq. 4 and 5 on page 5 of the March 1965 issue of Transactions, and Eq. 12 on page 8 of the same issue should read respectively:

Jan 1, 1965

By S. M. Purdy

Under certain conditions of hot rolling and air cooling from the hot-rolling temperature, bars of a high carbon (0.40 pct C) chrome-nickel austen-itic alloy were found to show magnetism even though no ferrite or martensite could be detected by microscopic or X-yay methods. The appearance of magnetism in such alloys may come from chromium impoverishment of the austenite grains near the precipitated carbide particles. SPORADICALLY, hot-rolled bars of Silchrome 10, an exhaust valve steel, have been found to be magnetic. Because of the analysis of the alloy—0.40 pct C, 18 pct Cr, 8 pct Ni, 3 pct Si —magnetism is unexpected. Preliminary investigation showed neither martensite nor ferrite to be present; only austenite and Cr23C6. Since a literature search was fruitless, a brief study was made of the appearance of magnetism in this alloy. The only basic difference between the two heats is the nitrogen content. Permeability was measured using a Severn magnetic gauge. This instrument consists of a magnet mounted on a counterbalanced arm. A set of calibrated plugs is placed in contact with one pole of the magnet. The specimen is placed close to the other pole of the magnet. If the specimen pulls the magnet away from the plug, it has a permeability greater than that marked on the plug. This technique is swift and reproducible. Previous experience has shown that the permeabilities obtained corresponded to those obtained on a permeater with a field strength of 100 oe. Specimens from both heats were annealed at temperatures between 1700 and 2300°F. One set of specimens was water cooled and another furnace cooled. All the water-quenched specimens were non-magnetic; the furnace cooled ones were magnetic as shown in Table I with no difference being observed between the two heats. Microstructural examination of the specimens showed the expected increase in carbon solubility with increasing temperature. Carbide solution was complete at 2200°F. The specimens heated to 1900°F or below showed some carbide precipitation from the hot-rolled structure. A furnace cooled specimen from a given temperature showed less carbide out of solution than the water-quenched specimen from the next temperature below; e.g., the specimen furnace cooled from 2100°F showed less carbide out of solution than the water-quenched specimen from 2000" F. These studies indicated that the appearance of magnetism was not related to the quantity of carbon in or out of solution and it was related to precipitation at temperatures below 1700" F. A set of samples annealed and water-quenched from 2100° F was aged for 4 hr at temperatures between 1000" and 1600°F; all were non-magnetic. A second set of samples, similarly annealed, was aged 1 to 24 hr at 1200°F with the results shown in Table II. None of the latter set of specimens showed magnetism until they had been aged about 8 hr. Magnetism was quite strong after aging 24 hr. X-ray diffraction studies on several of the magnetic specimens showed that the austenite had a lattice parameter of 3.58A and that the carbide was Cr23C6. Several of these samples were electrolytically digested in 10 pct HCl in ethanol, with a current density of 0.1 amp per sq cm. None of the particles in the residue were magnetic. Accidentally, one cell was run at 1 amp per sq cm; e.g., magnetic particles were found in this residue. After careful separation, the magnetic particles were mounted on a quartz fiber and their diffraction pattern determined using a 5.73-in. Debye-Sherrer camera with CrK radiation. These particles showed a fcc structure with a lattice parameter of 3.57A. Prolonged exposure, up to 16 hr, produced no other lines on the film. The following facts seemed to be established at this time: 1) Austenite was the magnetic phase. 2) Neither ferrite nor martensite could be detected. 3) Magnetization could be produced by aging at 1200°F. One explanation of these data is that the carbide precipitation impoverishes the region immediately around the carbide particle of carbon and chromium and increases the proportion of nickel. All of these serve to increase the Curie temperature of the region around the carbide particle. If the composition change is enough, the Curie temperature will rise above room temperature. If the volume of the affected region is great enough, the magnetism will become detectable. At low aging temperatures, composition changes are great enough but the overall volume of impoverishment is quite small

Jan 1, 1962

THE Institute met on Wednesday evening, May 22d, in the parlor of the Stanton House, Dr. T. Sterry Hunt, President, in the chair. The President delivered an introductory address on the Brown Hematite Deposits of the Great Valley, after which the following papers were read and discussed : Note on the Result of an Experiment with the Wheeler Process of Combining Iron and Steel in the Head of a Rail, by W. E. C. Coxe, of Reading, Pa. On the Jenks Corundum Mine, Macon County, N. C., by Dr. R. W. Raymond, of New York City. On Wednesday afternoon, previous to the opening session, the members who had already arrived in Chattanooga, were taken by the Local Committee to the works of the Roane Iron Company, and Chattanooga Iron Company, and then to the top of Lookout Mountain, where, at the request of the members present, Dr. Hunt described the geological and geographical features of the Chattanooga region, with the magnificent panorama spread out before them as a map. On Thursday morning an excursion was made by steamboat down the Tennessee River as far as Shellmound. Here cars were taken to the coal mines of the Dade Coal Company, where the members were courteously received by Mr. E. B. Wells, the Superintendent. After a trip through the mines the party partook of a collation provided by the company. South Pittsburgh, on the Tennessee River, was next visited, where the Southern States Coal, Iron and Land Company have a large blast-furnace plant in the course of erection. After conducting the party through the works, shops, etc., Mr. James Bowron, the manager, entertained the members with graceful hospitality at dinner. The second session was held on Thursday evening for the transaction of business. The President, Dr. T. Sterry Hunt, appointed Messrs. W. E. C. Coxe, R. H. Richards, and F. J. Slade, scrutineers, to examine the ballots for officers for the ensuing year.

Jan 1, 1879

By W. L. Saunders

THE world's greatest producing area is, geographically, in the midland region of North America about the Great Lakes. This area, with but one- third of the nation's population, produces, with the exception of tobacco and cotton, three-quarters of the principal staples. It provides the surplus or export grain, meats, dairy products, steel and leading minerals. The social and political condition of a nation is determined by its industrial efficiency, and the share of the commerce of the world obtained by a nation is fixed more by the economy of its transportation than by any other factor. It is an economic maxim that: The total cost is the cost of production plus transportation cost. The cost of carrying 1000 tons by water or 100 tons by rail is equal, over the same distance

Jan 1, 1921

For handling rough rock, the shovel-train system is unexcelled. The ideal application is a physically large, but not excessively deep, open-pit mine from which the coarsely blasted ore and waste must be transported distances in excess of three miles. If, in addition, a high production rate is to be maintained, railroad haulage will probably afford a lower cost per ton transportation than will any other haulage method. Relatively gentle grades must be employed- usually 3% for uphill hauls and 4% for downhill hauls. The greater the differences in elevation the greater are the railroad track grade space requirements. By way of illustration, a 3% ramp out of a pit only 300 ft deep must be almost two miles long. Mainline track locations should be selected carefully so that the frequency of movements during the life of the mining operation is minimized. This applies both to ore and to waste haulageways. Such moves are not only expensive but difficult to execute without adversely affecting production rates. The large mine affords greater opportunities for judicious location of semi-permanent trackage.

Jan 10, 1967

By Alfonso W. Ovalle

INTRODUCTION The block-caving mining method is one of the most economical ways existing today to extract ore from nature. It is undoubtedly the least costly of the underground systems and moreover it compares favorably to open-pit mining. In addition to its low cost characteristic, the block-caving mining method permits a great extraction volume as can be exemplified by El Teniente's output capacity of over 22 million tons of ore per year. These characteristics of block-caving give assurance that, even though it is a very old mining system, it will be a good answer to the many future large massive low ore grade deposits to come and a1 so to rep1 ace open-pi t mining as such operations get deeper with higher stripping ratios. These are the reasons that induce further study of block-caving. In this paper block-caving at El Teniente is analyzed with due consideration to the major problems that this mine will encounter. Emphasis is given to the factors influencing the mining of soft ore which accounts for most of the ore to be extracted in the next ten years. A separate paper is devoted to a major modification introduced to block-caving hard primary ore at El Teniente by means of LHD equipment extraction. DESCRIPTION OF THE PRESENT MINING Ore Production and Flow Over 62.000 tons per day of ore are extracted 359 days per year at the El Teniente Mine. The Teniente 8 train haulage level at 1.983 m takes 29.000 tons daily to the Col6n Concentrator. Two trains make the 8 km haul with 16 cars per train. Car capacity is 90 tons. The Teniente 5 train haulage level 298 m above takes 33.000 t per day to the old Sewell Concentrator. Ore is produced from three production areas in two different levels. The so called North Mine produces 42.000 tons daily from the Teniente 4 level 65 m above the Teniente 5 haulage level. The Central Mine produces 1.000 tons from the first hard rock block caved at the Te- niente 4 level. The combined 43.000 tons per day production is sent through inclined 2 m dia- meter raises to the Teniente 5 haul age level , where 33.000 tons are taken 2.5 km to the Sewell Concentrator and 9.000 tons are hauled 0.5 km to a 5 m diameter vertical ore pass which sends ore to Teniente 8. The haulage is by 7 trains, 15 gabble-bottom cars per train. Car capacity is 20 tons. The so called South Mine produces 19.000 tons per day from the Teniente 1 level 645 m above the Teniente 8 haulage level. Ore is transferred by 2 m diameter inclined raises to the Ten 1 Retram level 22 m below, where 5 trains with 20 Sandfor Day cars per train, 8 tons capacity per car, haul the ore 1.5 km to two vertical 5 m diameter ore passes which connect to Ten 8. Starting in 1982 the Central Mine will in- crease production to 6.000 tons per day. An in- dependent loop haulage system will start operat- ing at the Teniente 5 level to feed a new under- ground 1.372 mm (54 in.) gyratory crusher which will send minus 152 mm ore (9 in.) to Teniente 8. In two or three years time the North Mine will only feed the 33.000 tons to the Sewel 1 Concentrator with its old Teniente 5 haulage system. The Col6n Concentrator will be fed from the Central and South Mines. Figure 1 shows the transfer systems and ore flows. The Ore Body In plan view at the Teniente 4 level the ore body has a kidney shape 1.800 m long and between 400 to 700 m wide. The north-eastern section of the ore body was washed away by the Teniente River. At the Sub 5 Level, 125 m below Teniente 4, the mineralization completely surrounds the circular 1.000 m diameter steep-sided barren breccia pipe (Braden pipe) . The ore body rock is 73% andesite, 14% diori te, 13% dacite and 6% mineralized breccia. Most of this ore is secondary enrichment sulfides which apart from the dacite is strongly fractured being chal cocite, cove1ine , bornite and

Jan 1, 1981

By Walter E. Mingramm

The construction of rescue-apparatus on the principle of furnishing the wearer with air from a tank containing it under high pressure was given up by inventors about 20 years ago. Such an apparatus must supply continuously, for not less than two hours, nearly 50 liters of pure air at atmospheric pressure per minute, or a total of 6,000 liters (210 cu. ft.); and a cylinder containing this amount of air, under 2,000 lb. pressure, would weigh 180 lb. or more. Although apparatus has been recently constructed utilizing liquefied air, no experiments have been made to determine the regularity with which the air is generated, nor has its chemical composition been determined. Moreover, the chief objection to such an apparatus is the difficulty and cost of keeping on hand a large quantity of liquefied air. The system of furnishing the wearer of a breathing-apparatus with air which has given the best results, and has found

Jan 1, 1909

By A. B. Parsons

DOWN in Washington an army of individuals constituting the government of a so-called "'democratic" nation is trying to manage the conduct, in its rnultifold phases, of the greatest war in history for the country that is potentially, at least, the strongest in the world and on which, consequently, the major responsibility rests. The enterprise is one of unprecedented magnitude and complexity. That individuals and groups have made and are making serious blunders, both as to the establishment and execution of policy, is to be expected.

Jan 1, 1942

By ROBERT E. CROCKETT

MAGNETITE mining and milling in New York, New Jersey and Pennsylvania continued to remain comparatively inactive during 1933, owing to the low rate of output of the steel industry and also to unrestricted importation of foreign ores. However, some improvement over conditions existing in 1932 was noticeable, particularly in New Jersey, where one plant, that of the Washington mine of the Alan Wood Mining Co., at Oxford, went on full production in August. At Lyon Mountain, N. Y., the Chateaugay Ore and Iron Co. resumed mining and milling operations in October, on a reduced scale, principally to provide employment during the winter months. The Chateaugay company produces a special low-phosphorus pig iron. During the year they obtained a contract to supply their product for use in the manufacture of the suspension cables of the New. Golden Gate Bridge.

Jan 1, 1934

By L. E. Young

MUCH has been said and written on this subject and probably little new can be said. However, the point of view of the operating company changes from time to time, and more stress may be laid upon a subject today than was done some years ago, and it is with this changing point of view that the following observations are presented: The writer wishes to limit the discussion to views of a company mining bituminous coal, particularly to what the production department expects of the college grad¬uate. In an editorial in MINING AND METALLURGY for February, 1929, entitled "Is. Mining Engineering Passing?" it is stated that: It is not by accident that mining engineering courses have been general rather than special and form even today the only general engineering courses widely offered and followed by engineering students.'* * * even in this age of specialization, the mining engineers remain a body characterized particularly by broad knowledge.

Jan 1, 1929

By Philip S. Mathews

THE tremendous stimulus given to the mining industry by the gold and silver policy of the present administration has found the capital market for mines ill prepared to afford practical means of financing. Particularly has this been true of the host of abandoned high-cost producers and prospects which increased gold and silver prices have made potentially profitable. In a comparatively short time, experience has demonstrated abundantly that valuable properties have frequently failed to secure capital, while questionable properties have drawn to themselves and their promoters more of the public moneys than their prospects justify. Singularly enough the fault is usually attributable to faulty financing. Discussion and study of this problem are vital to the industry.

Jan 1, 1936