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By Thomas R. Stauffer

The principle that conventional schemes for taxing petroleum or mineral resources are "inefficient" is illustrated using simulation calculations tested against an "ideal" system. Inefficiency is defined as the relative success in maximizing expected government revenues from the resources. Most systems fail because: 1) they leave oil in limbo, i.e. unproduced because of excessive fiscal burden; or 2) they unnecessarily increase the variance in the explorationist'c, rate of return by undertaxing large fields and overtaxing smaller but infra-marginal fields. This increases his discount rate and reduces taxable surplus. An "ideal" tax system is specified which maximizes government revenues while minimizing risk to the operator. Two criteria are developed: 1) the tax falls to zero on fields which yield only the minimum necessary rate of return ("marginal" fields); and 2) the after-tax present value of all fields is the same for all fields above a threshhold size. In particular, marginal fields, while contrib- uting little to expected values, do contribute to reducing variance and hence risk praemia by distributing the exploration costs over a higher probability of successful outcomes.

Jan 1, 1982

By Byron M. Bird

JIGGING is the stratification of a mass of solid particles in upward pulsations of water or in alternating upward and downward pulsa¬tions. The stratification usually is effected in a rectangular open¬top container having a perforated bottom through which the pulsations of water are applied to the materials to be separated; in separating coal, to a mass of coal and refuse. Jigging usually is a continuous process involving three steps: (1) the reception of the raw coal, (91) the stratification of the coal and refuse so that the refuse settles to the screen plate, and (3) the overflow of the cleaned coal and the withdrawal of the refuse collected on the screen. The jig is the most universal washer ever devised. It is handling in practice a wide range of closely sized coals and ores, mixed sizes of coal from 8-in. to 0 through %-in. to 0, and mixed sizes of ores down to %3 O-in. to 0 and even smaller. It is treating materials ranging in specific gravity from that of gold at 19 to that of coal at 1.30. It is handling feeds in which the proportions of high-gravity materials range from 90 per cent or higher, as for some iron ores, to 10 percent or less for some coals. It is handling feeds containing all shapes of particles-round, rectangular, and flat. It is handling simple separation problems and difficult separation problems. Thus, it is an almost universal separating device. One might add that it has been one of the most misunderstood types of washers, from both a theoretical and a practical point of view. Although con¬siderable progress has been made in coal jigging in the past 10 years, the jig probably has more unexplored possibilities than any other type of washer. In this chapter the object has been to treat the jigging process in a practical manner and to give information that will help the reader to improve his particular operation. Inasmuch as performance data from operating plants would contribute little of value, none has been given. Instead, the emphasis is upon jigging principles as a foundation for attacking the problems that arise. These principles are in reality tenta¬tive conclusions from research in the field of jigging during the past 10 years and most of this chapter should be regarded as a progress report on an investigation still under way.

Jan 1, 1943

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By Jay J. Burns

TWO zinc concentrating mills are operated by the St. Joseph Lead Co. in St. Lawrence County, N. Y. The Edwards mill is operating at present only sixteen hours a day treating 400 tons daily. The metallurgy at Edwards presents no unusual problems therefore this discussion is mainly limited to the metallurgy of the Balmat ore. The Balmat mill has a capacity of 1,250 tons per day and the operating crew consists of three shift bosses each with five millmen per shift. Two crusher operators work on each of two shifts and one cleanup man on day shift. The repair crew is made up of a foreman and three repairmen, one of the repairmen being capable of taking over any operating job in the mill from shift boss down. Each millman is capable of handling the next job in line and several men in the yard crew are broken into handling the start-off job in the mill so that temporary shortages of men do not cause extensive overtime. Sphalerite, pyrite, and galena, the principal ore minerals, occur in a gangue of calcite, dolomite, and silicates, especially diopside, plus tremo-

Jan 1, 1947

By P. V. Brough, K. B. Gillaspie

DECISION to build a mill at the Bayard property was made in May 1942. Western-Knapp Engineering Co., of San Francisco, assisted by engineers of U. S. Smelting, handled the design and construction. Much of the milling equipment was moved from the Company's mill at Goldroad, Ariz. Wartime restrictions necessitated wood construction and paper sheathing except for structures adjacent to the Bullfrog shaft. Construction started in September 1942 and milling in March 1943. Bayard ores are processed in a single-ection mill. About half of the ore treated during the past year was hoisted through the Bullfrog shaft and the rest was trucked from other shafts. Coarse storage includes four bins, two of 120 tons each for Bullfrog ores and two of 85 to 120 tons each, served by a truck ramp. The low capacity figure refers to

Jan 1, 1948

By Ian Wark

IN an earlier paper1 measurements of contact angles due to the effect of xanthates on mineral surfaces were reported. The solutions in which these measurements were made differed widely from those of modern flotation circuits. It is intended, however, by introducing, one at a time, the other principal reagents of flotation, to approach gradually the solu-tion composition of flotation liquors. The work now described is an attempt to determine the effect of one of the most important of these reagents-namely, sodium cyanide-on the establishment of air-mineral contact. The work has been carried out for the following companies: Broken Hill South, North Broken Hill, Zinc Corporation, Electro-lytic Zinc of Australasia, Mount Lyell Mining and Railway, and Burma Corporation. Since the effect of cyanide is inseparably connected with the alkalinity, the results cited below deal with the mutual effects of alkalis and cyanide. Alkalis alone exert a significant effect on the air-mineral contact but comparatively large amounts are required. Since the addition of a small amount of cyanide greatly decreases the degree of alkalinity necessary for the suppression of contact at surfaces of any of the minerals experimented with (except galena) and since alkalis are rarely used alone in practice, little attention has been paid to cyanide-free solutions. It was shown in the previous paper that, excluding the dixanthogen effect, whenever contact was practicable at all in an ethyl xanthate solution the angle of contact was 60°. There is, therefore, less necessity to measure equilibrium contact angles; in fact, the experiments herein described have generally been conducted with a view to determining whether contact is possible and not to measuring the actual value of the contact angle. The separations which have generally to be effected in dealing with complex sulfide ores are: (1) galena from sphalerite, pyrite, etc.; (2) sphalerite from pyrite and/or gangue minerals; (3) copper minerals from pyrite and gangue minerals; (4) pyrite from gangue minerals; (5) chal-

Jan 1, 1933

By H. NORTON JOHNSON

THE oil industry in California during 1929 reached new heights and new depths in the discovery and development of the oil resources of the State. The discovery of new fields, and more especially the discovery and development of deeper prolific sands in known fields has, for the first time in its history, brought the potential production of completed wells within the State to over 1,000,000 bbl. oil per day. Constant improvement in equipment and technique has made possible economic development to depths unheard of but a few short years ago. Commercial production from a depth of over 4000 ft. was considered quite an accomplishment in 1923 when the Meyer sand at Santa Fe Springs was developed, and when later oil was successfully raised from this depth.

Jan 1, 1930

By Herty, C. H.

No attempt will be made here to review the previous work done by investigators on the general subject of inclusions, because it was discussed sufficiently in an early cooperative bulletin of this series (No. 36, 1928), and reference was then made to general bibliographies. The work described in this present bulletin deals directly with the study of the mechanism of deoxidation of steel with aluminum and the formation of inclusions containing alumina. Unquestion- ably, such inclusions are encountered in most steel-making practices and little has been done to determine their characteristics. Aluminum is used to ensure rapid deoxidation during the solidification stages of the steel. For this reason the possibilities of inclusion elimination are slight and alumina-containing particles will undoubtedly be present in the ingot. Besides this common practice, aluminum is often used in the ladle with other deoxidizing agents such as silicon and manganese. Ladle additions of aluminum are made to rimming steels to obtain the correct partial deoxidation desired in this type of steel. In killed steels the aluminum is added to ensure soundness, as far as blowholes are concerned, in the ingot. In either rimmed or killed steels, alumina or alumina-containing inclusions are found therein, the amount and type depending on the oxidation of the metal, the amount of aluminum added, and the addition of other deoxidizers.

Jan 1, 1957

By Frances H. Clark

DEVELOPMENTS in powder metallurgy have been disappointing in 1943. If any new part has gone into large-scale production, knowledge of it has been restricted by considerations of national security. Nor have any outstanding papers appeared to advance the theory of the subject during this period.

Jan 1, 1944

By T. B. Nolan, R. N. Hunt

In terms of present metal prices, analysis of extant records of the Eureka district indicate past production of the magnitude of $200,000,000 in recovered silver, lead, and gold. Production to date has been thoroughly oxidized ore from massive replacements, fissures, manta, and pipe-like bodies-in large part from the massive Eldorado (middle Cambrian) and Hamburg (middle to late Cambrian) dolomite horizons. In the productive area of about 6 square miles carbonate rocks comprise 80 per cent of the section, which includes early Cambrian to late Ordovician horizons. Four-fifths or more of the district's production came from a block of Eldorado dolomite in Ruby Hill that was moved in over younger horizons on strands of a regional thrust fault. The lower 500 to 600 feet of the block was much fractured and brecciated and became host to the ores. The Ruby Hill fault, a late normal fault, limits the Ruby Hill block of dolomite on the north for its entire length of nearly a mile and terminates the downward extent and exploitation of its ores. It introduced an hiatus of some 40 years in the district's development. Drilling of the past 20-odd years, followed by underground work, has now exposed the down-faulted extension of the Ruby Hill block of Eldorado dolomite and its contained ores, dropped 1800 feet in a dip shift to depths beneath the surface of 2000 to 3000 feet. The ores at depth are the sulfide counterpart of those mined in early years on the footwall side of the fault. The ores of the district may be attributed to the same source as the intrusive quartz diorite outcropping in a limited way south of Ruby Hill but found at depth elsewhere in drill holes. The long north-south axis of the district, its anticlinal structure, its major faults, and the distribution of the intrusives and, in their relation to the surface, the ores themselves, all suggest that erosion has not cut deep enough to expose the extent of intrusives and the ores consequent upon them.

Jan 1, 1968

Jan 1, 1968

By AIME AIME

IN many countries the lack of liquid petroleum supplies has centered interest upon the hydrogenation of coal and coal tars for the preparation of motor fuel. In the United States, hydrogenation has been of greater interest for grading up low-value petroleum fractions to the more valuable volatile fuels and for the preparation of a variety of premium products, including aviation gasolines, solvents, Diesel fuels, and lubricating oils. Chemically, the basic reason for this process is that, as shown in Table 1, the ratio of hydrogen to carbon (H/C ratio) in available raw materials is quite different from that characterizing the products sought.

Jan 1, 1936

By Donald H. McLaughlin

PRICES paid for goods and services in paper currencies are undoubtedly determined by many interrelated factors, but among them none is more specific in pushing prices toward higher and higher levels than the vast increase in debts and monetary obligations of our own and practically all major governments. There is nothing unorthodox in the situation in which the gold miners find themselves today. With wages and the prices of all materials required in the production of gold at the high levels characteristic of a period of prosperity, phony or otherwise, and with shortages of both men and machinery to contend with as well, the spread between the returns in paper dollars that must be accepted for gold in the United States and the cost of producing it is rather painfully small for most producers. Technical

Jan 1, 1948

McCulloch, Leon.-Experiments with Sherardizing. Discussed by Fred. L. Wolf, Willis M. Peirce, Jesse L. Jones, O. W. Storey, David R. Kellogg, William H. Finkeldey, L. H. Marshall 2 Bassett, W. H. and Davis, C. H.-Spectrum Analysis in an Industrial Laboratory. Discussed by C. S. Brainin, C. H. Davis, W. H. Bassett, George K. Burgess, George K. Elliott, Leonard Waldo, Keivin Burns 8 Roast, Harold J. and Pascoe, Charles F.-Arsenical Bearing Metals. Discussed by Jesse L. Jones, William A. Cowan,. William K. Frank, William M. Corse, Harold J. Roast 10 Bain, Edgar C.-Crystal Structure of Solid Solutions. Discussed by Ancel St. John, Edgar C. Bain, Paul D. Merica 14 Peirce, Willis M.-Studies on the Constitution of Binary Zinc-base Alloys. Discussed by George K. Burgess, Willis M. Peirce, D. H. Ingall, J. L. Haughton, K. E. Bingham 16 Webster, William R.-Application in Rolling of Effects of Carbon, Phosphorus and Manganese on Mechanical Properties of Steel. Discussed by George B. Waterhouse, J. O. Liebig, Ralph H. Sweetser, H. T. Morris, F. D. Carney, W. P. Barba, John H. Nelson, George K. Burgess 19 Barba, W. P. and Howe, Henry M.-Acid Open-hearth Process for Manufacture of Gun Steels and Fine Steels. Discussed by W. J. Priestley, Haakon Styri, C. T. Patterson, Harry Brearley, W. P. Barba, George F. Comstock, Alexander L. Feild 24 Kellogg, David R.-Electrolytic Deposition of Iron for Building up Worn or Undersized Parts. Discussed by Jesse L. Jones, William Blum, C. R. Hayward, George K. Burgess, C. P. Perin, David R. Kellogg 33 McQuaid, H. W. and Elm, E. W.-Effect of Quality of Steel on Case-carburizing Results. Discussed by H. J. French and L. Jordan, W. J. Priestley, M. H. Schmid, A. E. White, H. J. Stagg and S. C. Spalding, Henry S. Rawdon, J. S. Vanick 35 Phillips, Arthur and Davenport, E. S.-Malleableizing of White Cast Iron. Discussed by Samuel Epstein, H. A. Schwartz, A. E. White, R. S. Archer.... 58 Priestley, William J.-Effect of Sulfur and Oxides in Ordnance Steel. Discussed by Harry T. Morris, William J. Priestley, C. P. Perin, James H. Gray, W. P. Barba, Haakon Styri, Frank D. Carney, W. L. Harbrecht, George F. Comstock, E. J. Janitzky 67

Jan 5, 1922

With a total value to date of well over $200,000.000.00 for its ore production, the Tintic mining district, which is about 100 miles southwest of Salt Lake City, ranks as one of the three main ore producing areas of Utah. In it are located the biggest silver mines of the country, silver having been the chief metal produced in the camp since its start. Tintic's silver production to date has a total value of over $1 00,000,000, approximately half of the value of the camp's ore production, the balance being roughly divided among lead, gold and copper. Discovery of the camp was made in the late sixties. Lack of transportation and ore reduction facilities delayed extensive development of the area for nearly a decade. In recent years Tintic's ore production has ranged from 350,000 to 400,000 tons annually. In 1924 the camp produced one-eighth of the silver produced in the nation with an output of 7,729,700 ounces. Its lead production was 77,765,000 pounds and its gold production 26,285 ounces.

Jan 1, 1925

By JAMES J. PURDY

The great majority of stokers used in residential heating installations are of the clinkering type. Because of inherent characteristics of the under- feed combustion process as it occurs in these small stokers, and because of the wide range of operating conditions encountered in residential heating schedules, not all bituminous coals can be used successfully in residential underfeed units. The problem of providing consumer satisfaction has been attacked by the joint efforts of the stoker manufacturers and the coal industry; the stoker manufacturers have been concerned with improving their product to permit the use of a wider range of coals, and coal operators have made every effort to market selected and better prepared coals. In view of the wide range of physical characteristics and chemical properties of bituminous coals, the problems are real and are receiving increased attention.

Jan 1, 1949

By William E. Ford, Edward Salisbury Dana

URANINITE. Cleveite. Broggerite. Nivenite. Pitchblende. Isometric. In octahedrons (o), also with dodecahedra1 faces (d) ; less often in cubes with o and d. Crystals rare. Usually massive and botryoidal; also in grains; structure sometimes columnar, or curved lamellar. Fracture conchoidal to uneven. Brittle. H. = 5'5. G. = 9'0 to 9'7 of crystals; of massive altered forms from 6'4 upwards. Luster submetallic, to greasy or pitch-like, and dull. Color grayish, greenish, brownish, velvet- black. Streak brownish black, grayish, olive-green, a little shining. Opaque. Comp. -A uranate of uranyl, lead, usually thorium (or zirconium), often the metals of the lanthanum and yttrium groups; also containing the gases nitrogen, helium and argon, in varying amounts up to 2'6 p. c. Calcium and water (essential?) are present in small quantities; iron also, but only as an impurity. The relation between the bases varies widely and no definite for- mula can be given. Radium was first discovered in this mineral and it has been shown that it and the helium present are products of the breaking down of the uranium.

Jan 1, 1922

By Renato G. Bautista, David C. Lindholm

The results of scale-up studies on a continuous, multistage horizontal mixer-settler extractor are presented. The chemical and mechanical system involves the separation of lanthanum from a mixture of rare earth chlorides using di(2-ethylhexyl) phosphoric acid as the solvent and dilute HCl as a scrub solution in a bench scale extractor. Each stage has a hold-up of 2.6 l. A single stage unit is utilized for scale- up studies. Results are obtained on four sizes of geometrically similar units, the largest being six times the volume of the original bench size. A unit operations technique is chosen so that mixing and settling can be examined independently. Variables examined include type of continuous phase, flow rate of inlet streams, and power input to the mixer. Inlet flow-rate ratios are kept constant for all tests. TWO potential methods of unbaffled pump-mixer scale-up are explored; the maintenance of constant impeller tip speed and constant power input. For the settler, the previously successful method of basing design on constant flow-rate per unit cross- sectional area is used.

Jan 1, 1977

By Henry Mackay

THE interesting paper recently submitted by Messrs. Tobelmann and Potter' shows that chemical problems have developed which are of great interest in this new and important branch of metallurgy. Those who realize what a process of this kind really involves will agree that it deserves a better name than "leaching process." The word leaching conveys the idea that the copper is simply leached out of the ore with acid and then precipitated on iron; the chemistry of such a process would be of little interest. As, however, during the first year's operation of this plant 24,400,532 lb. (11,067,837 kg.) or about two-thirds of the produce, was electrolytic copper, while 7,992,033 lb., or about one-third, was cement copper, it would seem more appropriate to term the process electrochemical. It further appears, from the particulars given, that efforts have been made to have the entire production in the form of electrolytic copper. -This could be done if the chemistry of the problem were kept in balance, so that it would not be necessary to discard any solutions that carried copper and acid of commercial value. A process, such as that under consideration, in which the copper is precipitated from solution by electrolysis, the solvent being at the same time regenerated, is one that requires special chemical and electrochemical knowledge and experience if all the -copper in solution that has been extracted from the ore is to be successfully and economically produced as electrolytic copper. The object of this paper is to discuss, from the practical and theoretical standpoints, the chemical and electrochemical problems involved in the working of a process of this kind, and' which must be solved to keep it in chemical and electrochemical equilibrium. In such a process, if the chemical balance is maintained, a solution can be used alternately as a

Jan 9, 1919

(Under this heading will be published notes sent to the Secretary of the Institute by members or other persons introduced by members) Member, Graduate Colorado School of Mines. Four years' experience in West and Northwest. Two years with American Smelting and Refining Co. Wishes to join field party on geological work, mining or areal, where opportunity will be given to be of direct assistance to chief of party in solution of field problems. Age, 26. Unmarried. At liberty June 1. No. 342. Member, technical graduate, aged 30, with' 7 years' experience in concentrating and mining, desires a position of authority with reliable company. At present employed. No. 343. Member. Ambitious, energetic, tactful engineer, college graduate, married, aged 30, desires location with a large coal mining organization. Seven years with present employers -n middle west; has had broad experience in the past eight years on examination, development and construction; successful record in handling men. Position must carry responsible work and a future. Will go anywhere for proper opportunity. Exceptional references as to reliability, character and capacity for work. No. 344.

Jan 3, 1917