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By J. M. Hassler

NOWHERE can there be found a more misleading statement than the old one that "Iron can be manufactured cheaper in the South." During the past decade ironmakers and users of iron have heard varied and sundry stories of the wonderful resources of the Birmingham district, including abundant ore and coal fields, cheap labor, a wonderful climate and similar industrial Utopian statements. Birmingham represents the major portion of the iron business in the South, acid as Birmingham fares so goes the iron business of the South. The intent of this paper is to shed some light on the actual conditions surrounding ironmaking in the South, especially in the Birmingham, or North Alabama, district. By a presentation of facts it is desired to point out that the "cheap iron" of the industrial South is a thing of the past, primarily because of increased labor cost and because labor is radically different in performance to what it was years ago. Also, because most of the raw materials needed in ironmaking that would be classed better than inferior are gone.

Jan 1, 1937

By Rodney G. Ravenscroft

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

Jan 1, 1985

By Arthur Bell

(San Francisco Meeting, September, 1915) . PRIOR to 1908 the oil production in the State of California, had been almost entirely a heavy fuel, oil, with a high flash point, hut changed within a-short period to a large percentage of refining oil with a low flash, by reason of the coming in of the Santa Maria field, the Midway field, and the increased production of the Fullerton field. This is clearly shown in the following tabulation of California's production: Year Barrels . Below -20° Be, Above 20° Be,, Per Cent_ Per Cent. 1905 48,307,000 90 10 1910 77,698,000 SO 20 1912 90,075,000 6o 31 1914 10:3,600,000 47 53 The bringing in of these high percentage's of light oil with their dangerous low flash and the increasing demand for the refined products necessitated the devising of some cheap and efficient means of quickly separating the lighter elements either in the field or at the main distributing points; also it became necessary to remove the excessive percentage of water which many of the light oils carried in emulsion.

Jan 9, 1915

By Joseph Jensen

FROM Aug. 31, 1937, until Apr. 30, 1939, there were 40,872,610 bbl. of oil run to storage in California; from Apr. 30, 1939, to Aug. 31 of the same year 5,512,912 bbl. were withdrawn from storage. But from Aug. 31, 1937, to Aug. 31, 1939, the number of producing wells in the state has increased from 17,706, with a potential production of 1,323,202 bbl., to 18,910, with a potential of 2,302,282 bbl. Thus, in a period of two years, during the first 20 months stocks increased over 1/3 and during the following four months stocks decreased 1/30. In the same two years the number of productive wells increased 1/15 and potential increased 3/4. Undoubtedly, the large increase in stocks created the pressure that caused the reduction in stocks that followed; yet this has come about in spite of the larger number of wells and higher potential. Cause of the change was the adoption on May 17, 1939, by the Central Committee of California Oil Producers of a uniform method of oil curtail-ment for all wells throughout the state. Acceptance of the method in the four months following adoption by practically all fields in California indicates that producers generally are convinced of its merit and fairness. True, some operators still overproduce, but the restraint practiced by the remainder of the industry has been sufficient to turn a situation headed for chaos into one of reasonable stability. Credit for this change goes to the industry itself, because it has all been accomplished under voluntary oil curtailment.

Jan 1, 1940

By W. W. Cotter, W. R. Clark

WEBSTER tells us the word "extrude" means to "force, press or push out; to protrude." As applied to the metal industry, the process consists largely of forcing plastic elements (plasticity usually obtained by preheating), through dies of predetermined profiles, into constant sections of considerable length and weight. Most of the "virgin" metals are quite malleable under this process, likewise many of the commonly used "alloys" in various industries, when basic elements are proportioned or combined within the natural laws and limits of good metallurgy. Several of the foundry alloys, both ferrous and nonferrous, together with some of the heat-treatable light metal mixtures, are decidedly weak and hot short at ordinarily plastic ranges, and consequently are troublesome or quite incapable of commercial extrusion. DEVELOPMENT OF PROCESS This process was conceived some time before 1800 and during its first century was employed almost entirely in making lead pipe, plumbing fittings and coating electrical cables. As a result of contact and experience with the lead industry and presses, Alexander Dick, of London, England, is credited with first having applied the principles of extrusion to brass, and in 1894 brought out a 500-ton horizontal press powered by hydraulics. A duplicate of this unit was imported by one of the Connecticut brass mills and was in experimental operation by 1900. During the first five years of operation, this press proved the value of the method to American industry, as it immediately revolutionized and converted the manufacture of brass rod from a 15-pass cold-rolling operation, with elimination of several intermediate anneals and cleanings, to an extrusion and a finishing draw. Likewise, ornamental brass and bronze moldings formerly cast and machined were produced in one squeeze on the extruder. The extrusion operation, being entirely that of compression, deforms the material without tensile stresses and can be used on delicate mixtures under heat, which cannot be hot-worked by straight hot-rolling or roller piercing. Base slabs of clock-brass strip were early in line of development or improvement, as were the brass bronzes (Naval brass, Muntz metal, manganese bronze, and others), popular as engineering materials for bolt stock, as well as structural shapes for marine and other mild conditions of corrosion. By 1910, American engineers undertook to design tube shell extruders, but were unsuccessful. The first World War began before fabricators could procure the more substantial designs of tube extruders produced in Germany; and it was not until the middle twenties that better models of the Universal extruders (double-actioned presses), equipped with hydropneumatic accumulator systems and other modern equipment, were available in the United States.

Jan 1, 1945

By G. W. Healy

G. W. Healy (union Carbide Metals 0.)-The author's paper is a useful contribution to the store of maps of chemical activities of oxides in multi-component slag systems. It is also a good example of the utility of the Gibbs-Schuhmann technique for calculating activities in a system where that of one of the components has been measured. This paper Koh and Caugherty. This plot is reproduced by alor in X-ray Metallography. Because of this nonlinearity, preparation cf suitable standards and/or correction for absorption and enhancement are essential in microanalysis. However, our objection is not the conclusion that Dr. Aaronson has arrived at nor the technique he has used; but only to the foot-note credited to V. Macres. The level of chromium that he was concerned with (less than 3 pet) is so low that the deviation of uncorrected Cr-curve will be negligible. Besides Dr. Aaronson has used chromium intensity from martensite and set it equal the bulk chromium content of the alloy. Using this chromium-intensity as a reference, he has calculated the amount of chromium in the ferrite. This amounts to the same as using an internal standard. Since the chromium content in austenite and ferrite are almost the same, enhancement due to iron in both will be the same and therefore does not need to be corrected. together with the author's recently published one1 on the CaO-FeO-Fe2O3 system will be most helpful to others learning to apply Schuhmann's method, which merits a far wider application than it has received to date and should greatly aid our understanding of equilibria between metal and oxide phases. As shown by okcen" its use may even be extended to sections of systems with any number of oxides. I have some questions as to the selection of equilibrium constants made by Dr. Turkdogan. He has chosen one for the formation of Fez03 from FeO and oxygen which gives Fea3 activities 50 pct higher

Jan 1, 1963

By Fred P. Dewey

Although coke is the acknowledged metallurgical fuel, and has been extensively used in this country for more than thirty years, yet the facts on record in regard to its physical properties are exceedingly meagre; and this is also true, but in a less degree, of its chemical composition. An investigation is being carried on in the National Museum which is intended to supply, so far as may be, this deficiency, and through the kindness of Professor Baird, Director of the Museum, I am permitted to present to the Institute a summary of a portion of the results already obtained. So far as I am aware, the credit for the first systematic investigation of the physical properties of coke belongs to Mr. John Fulton, Mining Engineer of Cambria Iron Co. The results of this investigation have been published in Report L, Second Geological Survey, Pennsylvania, 1875, and in a pamphlet setting forth the advantages of the Connellsville coke, the latter published also by the " Virginias"* His results are not altogether free from experimental errors, and the assumption that "the specific gravities of coke and water are very nearly alike "- is scarcely warranted. It has seemed to me, therefore, desirable to make an independent investigation of the physical properties of coke on a plan somewhat different from that adopted by Mr. Fulton. This is the investigation now being carried on at the National Museum.

Jan 1, 1884

By Arthur M. Miller

FROM the time of its establishment in 1933, the Tennessee Valley Authority has been active in the field of phosphates. Under the T.V.A. Act it has a broad Congressional mandate to guide a unified development of the resources of the region for the long-range benefit of the people. As one phase of this function, it is directed to co-operate with farmers in the experimental large-scale use of improved fertilizers and development of better fertilizer practices. Following careful study, it was concluded that the objectives of this phase could best be attained by soil rebuilding through the use of phosphatic fertilizer and lime in an improved farm management sys- tem. This activity was launched through a program of test and demonstration on farms and simultaneous technical investigations to develop new and improved phosphatic fertilizers. Phosphorus has since become a keystone of the Authority's resource development and conservation program. Human effort is being conserved by phosphate utilization on the farm, and mineral conservation has been promoted by technical developments in phosphate mining and manufacturing operations.

Jan 1, 1944

By L. I. Cothern

THE introduction of mechanized mining has created a demand for long working faces. It has also prompted mining men to contest the old theory that longwall methods can be used only where roof conditions are ideal and where pack-wall material is plentiful. "Longwall" as used in this paper means "modified longwall," "semi-longwall," or any of the various "wall" or "long-face" methods of mining. Many mines are now using long conveyor faces that differ only in their methods of development, types of roof support and method of loading coal onto the conveyor. Some types of longwall operations are being carried on successfully under conditions heretofore considered impossible by men experienced in longwall mining. With possibly one or two exceptions, long-face methods in Alabama are a direct result of the need for lower mining costs. The advantages over room-and-pillar systems were clearly expressed in an article by Messrs. Fies and Lacy of the DeBardeleben Coal Corporation1 as follows: (1) increased tonnage per miner; (2) increased percentage of lump coal; (3) reduction in cost of development; (4) elimination of the cost of room yardage; (5) reduction in the cost of haulage, from ability to use larger cars; (6) reduction in the cost of machine cutting; (7) reduction in cost for tracks; (8) reduction in the cost of deadwork; (9) reduction in the cost of supervision. An attempt on the part of the operator to gain these, advantages by changing from room-and-pillar to longwall requires considerable courage, and credit should be given to those men who have done their bit to meet the competition of rival fuels. The initiatory problems to be solved are in reference to: (1) retreating or advancing system, (2) length of wall, (3) method of roof support, (4) method of entry development, (5) type of conveyor or loader, (6) hand vs. machine loading (onto conveyors), (7) hand vs. machine loading in entries, (8) control of roof pressure,

Jan 1, 1940

By Homer W. Riley

ANTHRACITE SMALL power-driven, toothed, cast-iron rolls were used first to break anthracite in 1844. Prior to that time, men with hammers, who stood on perforated cast-iron plates, broke the large lumps into commercial sizes. In order to convert run-of-mine into the various sizes required by the anthracite industry, about 20 million tons must be broken, annually, into smaller sizes. This phase of anthracite preparation is of major importance, because the degradation accompanying reduction in coal sizes should be kept at a minimum. The exclusive use of toothed rolls for that purpose indicates that comminution by rolls is the best solution of the problem. Many improvements have been made in tooth design, but the most important was a reduction of the peripheral speed of the rolls from 1000 to 300 ft. per minute. The higher speed was based upon and approximated the velocity of a falling piece of coal when it entered the rolls, Exhaustive roll tests at the slower speed showed that the same size reduction could be affected with less degradation. The adoption, therefore, of slow-speed, compound geared rolls, especially for breaking the larger sizes, became quite general after 1912. A high-speed roll is shown in Fig. 1 and a slow-speed roll in Fig. 2. Anthracite Crushing Problems.-Crushing anthracite presents the problem of selecting a series of rolls that will produce the greatest percentage of the prepared sizes of nut and over. The size distributions to be expected are shown in Table 1. Coal breaking and crushing practices in anthracite breakers involve the use of equipment for comminuting the following classes of material: 1. Run-of-mine-plus 6 ½ -in. coal. 2. Sized coal-steamboat, broken, egg, stove, nut, and pea. 3. Flat coal--coal that is flat and hence not suitable for the market. 4. Bone--a piece of laminated coal and slate, crushed for the purpose of reclaiming the coal. 5. Breaker refuse, reduced to a size suitable for flushing into a mine for back-filling purposes.

Jan 1, 1950

By Persifor Frazer

"The nebular theory is a noble speculation supported by plausible argument, and the verdict of science on the whole subject cannot be better expressed than in the words of Newcomb :—'At the present time we can only say that the nebular hypothesis is indicated by the general tendencies of the laws of nature, that it has not been proved to be inconsistent with any fact, that it is almost a necessary consequence of the only theory by which we can account for the origin and conservation of the sun's heat, but that it rests on the assumption that this conservation is to be explained by the laws of nature as we now see them in operation. Should any one be skeptical as to the sufficiency of these laws to account for the present state of things, science can furnish no evidence strong enough to overthrow his doubts until the sun shall be found growing smaller by actual measurement, or the nebulæ be actually seen to condense into stars and systems.' " Leibnitz2 is credited by Cuvier3 (who associates with him Descartcs) with " amusing their imaginations " by conceiving the world to be an extinguished sun or vitrified globe upon which the vapors, condensing in proportion as it cooled, formed the seas, and afterwards deposited the calcareous strata. Whiston4 believed the earth was crested from the atmosphere of one comet and deluged by the tail of another. The heat which remained from its origin excited the whole antediluvian population, men and animals, to sin, for which they mere all drowned in the deluge, except the fish, whose passions were apparently less violent. De Maillet5 held that the globe had been covered by water for many thousand years. The terrestrial animals were originally inhabitants of the sea, and man himself began his career as a fish. He adds it is not uncommon to meet with fishes in

Jan 1, 1905

The primary purpose of the Institute is to advance the technologic and engineering arts embraced by it through interchange of knowledge. This can best be clone by the presentation and discussion of technical papers by its members. Short practical papers are especially welcome. An author should always satisfy himself that his material is of a quality that will he a credit to him and to the Institute. The preparation of a good paper frequently leads to a reorientation of the author's thoughts, and publication contributes much to the professional standing of the author. Members are urged to submit papers presenting the results of their work. Attention to the following suggestions will greatly further the prompt and efficient handling of manuscripts. 1. SUBJECTS: The subject must be within the field of the Institute. Original work, the results of field, plant, laboratory or theoretical investigations, new views on old but important problems and occasionally reviews of timely and important subjects of wide interest to our members may constitute the basis of a paper. The mere fact that the work is original does not necessarily justify publication: it must be of a substantial nature, of value to a reasonable number of our members and worthy of permanent record. It is seldom desirable to subdivide the results of a single research for publication in a variety of journals. Previous publication is usually a bar to acceptance. If any part of your paper has been published elsewhere and you regard repetition as absolutely necessary please so state in your covering letter. 2. CONSTRUCTION: Papers should be clearly and concisely written in good English. Care in this regard ensures wider reading and the saving in space permits the Institute to publish more papers. It is the experience of the Papers and Publications Committee that most papers can he improved by condensation. "Readers" who are asked to recommend acceptance or nonacceptance put particular emphasis on the length of the paper and the elimination of unnecessary or any extraneous material. The terminology and units employed should be those current in the particular field. An examination of Institute publications will afford useful guidance in such matters. Webster's New International Dictionary, 1935 edition, is the Institute's authority for spelling and style. Various abbreviations are used habitually; for instance, lb., pound; bbl., barrel or barrels; ft., foot or feet; hr., hour or hours; in., inch or inches; Fig. 1 but Figs. 2 and 3.

Jan 1, 1946

By R. E. Gilmore

This paper is a revision of a former paper published in mimeograph form by both the Canadian and American coal classification committees, and is now presented for the purpose of acquainting those interested with the present status of coal classification in Canada. The classification employed for "Customs purposes" is detailed, and the classification schemes from which the customs classification was derived are reviewed and discussed. The activities of the Canadian coal classification committee, namely, the Associate Committee of Coal Classification and Analysis of the National Research Council, is also reviewed. Reserves, Production and Uses of Canadian Coals The total coal resources of North America are estimated to be 69 per cent. of those of the world, and of this portion, the distribution is 52 per cent. for the United States and 17 per cent. for Canada. Accordingly, Canadian coal resources amount to approximately one-third of those of the United States, and one-sixth of those of the world. As for the geographical distribution, the bulk of the known coal deposits are in the extreme eastern and western portions of the country. Employing the usual, more or less loosely defined, designations for the different classes and subclasses of coal, the distribution of the Canadian coal resources, according to provinces, is as follows: Maritime Provinces: Nova Scotia and New Brunswick Bituminous and semibitu- minous coals. Ontario (northern part).............................Lignite. Saskatchewan, (and Manitoba)....................... Lignite. Alberta and British Columbia........................ Lignites, subbituminous, all kinds of bituminous, semibituminous and semianthracite coals. Of the total reserves, roughly 92.5 per cent. is credited to the noncok-ing lower rank subbituninous and lignite groups, the bulk of which are

Jan 1, 1930

By Coolbaugh, Franklin

CRUSHING of Climax mine-run ore is carried out in two plants: No. 1 plant (flowsheet in Fig. 1) has a capacity of approximately 5000 tons per day. It is used as a stand-by except when maximum production is required. No. 2 plant (Fig. 2) has a top capacity of approximately 17,000 tons per day. The No. 2 crusher is more efficient to operate on reduced tonnages regardless of the wide variation in peak capacities. The system of crushing is similar in both plants: Mine ore, of a size which can be drawn through 48 by 96-in. slusher openings underground, is dumped into the crusher bins from ten-ton mine cars and fed into 48 by 60-in. Buchanan jaw crushers by means of chutes and Ross chain feeders. The jaw crushers are set to discharge at approximately 9-in. size. Jaw crusher discharge is conveyed to 7-ft. Symons standard cone crushers where it is broken to minus-2-in. size,

Jan 1, 1946

By H. J. R. Way

THE work to be described was undertaken at various periods from 1937 to 1939 on the Busia gold field, in the eastern province of Uganda. It was decided to examine the possibility of reef prospection by the resistivity method, for it was not known how far the usually disintegrated nature of most reefs in the ubiquitous laterite near the surface would obscure indications obtained by resistivity traverses. The work at the commencement was therefore largely experimental, but the results obtained thereby were satisfactory, and a survey was started at the Government closed area at Amonikakine. With the limited time and resources at the writer's disposal, it was not possible to complete the survey to his satisfaction or to follow up exhaustively all the geophysical indications, but some of the results of the experimental work and the survey were of sufficient interest to be worth recording; in particular the relation between the width of reef, electrode separation and shape of the curve, and the interference effect of constant separation curves over zones of float are significant and useful. Three new veins were located, but only one contained sufficient gold to warrant detailed prospection. This was called the Geophysical reef, and was uncovered over a strike distance of 1140 ft., and there are indications that it extends over a distance of 1990 ft. These results and the recommendations consequent therefrom were embodied in a special report to the Uganda Geological Survey. HISTORY OF THE FIELD The Busia field is in the southeastern corner of Uganda near the Kenya-Uganda border, and is about 17 miles north of the northeastern corner of Lake Victoria. Gold was first discovered in the area in the stream beds by Davies1,2 in 1932. Subsequently numerous small alluvial claims were worked by prospectors and the area was prospected for reef by a company for periods varying from three to nine months, but was finally abandoned, as the results were considered unfavorable. Further prospecting by the Geological Survey in 1935-1936 under Davies3 and later under the writer4 uncovered three reefs with sufficient gold values to be of economic interest. These were finally taken over by a company known as Borderland Syndicate, which still owns the area, and from September 1937 to the end of 1941 about 13,000 oz. of gold was extracted from reefs of the area proved by the Geological Survey. Opencast mining operations are still proceeding (February 1943). The Amonikakine area lies to the immediate north of that of Borderland Syndicate. A certain amount of prospecting had been done when the writer started work there. As a result of his report, this area was taken over by another syndicate, but little further work was accomplished before it ceased operating because of difficulties of wartime working.

Jan 1, 1944

By Stanley D. Michaelson, Norman Weiss

This was a year of realization. Some years are for planning and development, some for designing and building, others for fulfillment. With greater hopes and plans for the future than ever before, the year 1954, nevertheless, will be remembered principally because of project completion. Among copper mines, for example, there were Silver Bell, Copper Cities, Bisbee, Yerington, and White Pine. In iron, there were the Humboldt, Coleraine, Cerro Bolivar, and Eagle Mountain. In asbestos, Johns-Manville's new mill at Asbestos, Que. In uranium, completion of the ninth mill on the Colorado Plateau-Kerr-McGee's at Shiprock, N. M. In research, 1954 marked the completion of Kennecott's Research Center in Salt Lake City, one of the historic forward strides in the science of minerals beneficiation. The year was fruitful in other directions as well. Investigations of a fundamental nature were on the upswing, and pilot plant projects have also increased in size and number. Progress in new reagents and equipment was greater than normal. It can already be conservatively predicted-from the technological point of view-that 1955 and 1956 will be tremendous years.

Jan 3, 1955

THOSE NOT MARKED ARE MEMBERS; MARKED THUS t ARE ASSOCIATES. HEAVY-FACED TYPE SIGNIFIES HONORARY MEMBERSHIP. JUNIOR MEMBERS ARE MARKED II. THE FIGURES AT THE END OF THE ADDRESS INDICATE THE YEAR OF ELECTION. AARONS, J. BOYD, Genl. Mgr., Chaffers G. M. Co., Boulder City, West. Australia. '05 ABADIE, EMILE R., Min. Engr Box 291, Porterville, Tulare Co., Cal. '76 ABBOTT, CLARENCE E., Genl. Supt., Iron Mines Div., 1405 Minnesota Ave., Bessemer, Ala. '04 ABBOTT, J. W., Min. Engr., "St. Omer," 123 N. Grand Ave., Los Angeles, Cal. '94 ABBOTT, Louis BENJAMIN, Chief Engr., Consolidation Coal Co., Elkhorn Div., Jenkins, Ky. '15 ABBOTT, ROBERT R., Met. Engr., Peerless Motor Car Co., Cleveland, Ohio. '12 ABE, ASAKA Yamagano G. M., Satsuma-Gori, Satsuma, Japan. '14 || ABRAHAMS, A. I., Student 1391 Madison Ave., New York, N. Y. '14 tACKER, E. O'C., Met Bethlehem Steel Co., Bethlehem, Pa. '86 ACKER, Louis K., JR., Min. Engr 565 Highland Place, Bellevue, Pa. '08

Jan 1, 1917

By M. R. Campbell

Coal is the geological product of entombed vegetal tissues. This view of its origin led Stopes and Wheeler to define it as "mummified plants." They evidently intended this term to be used in a broad way and to mean the preservation of the organic material, as such, regardless of the means employed to accomplish the purpose. The term " coal" should be regarded, therrfore, as broadly generic, and applicable to all accumulations of vegetal tissues as soon as they are covered and protected either by water or by earthy material. In this sense peat should be regarded as the first stage of coal formation and the term coal should include the resultant products of transformation in all other stages of the process until they have lost all resemblance to the original matter from which they were derived. If this idea of the development of coal is accepted and it is admitted, as the geologists claim, that the forces which produced this transformation of the coal have been active since vegetation began to grow upon the land, and are still in operation, it is obvious that somewhere in the world there are all gradations of this material from peat just forming in the swamps of today to graphitic anthracite which presumably marks the most advanced stage that can be recognized with certainty as belonging to the series. Some of these coals, particularly those occurring in the upper part of the series, are fairly well known because they are the ones that are most widely distributed and have been mined and utilized most extensively. On the other hand, the coals in the lower part of the series are but little known because they are not so abundant and, owing to their relative inefficiency, have been only slightly exploited and utilized, especially in regions where the better coals are abundant. The result of these conditions is that much research work has been done on coals of the higher ranks and a great body of facts regarding their physical and chemical properties and the uses to which they are best adapted has been accumulated, but little information is available regarding the coals of the lower ranks. Many able scientists, particularly chemists, have attempted to bring some order of the chaos of coals of various compositions and uses by

Jan 1, 1930

By William E. Galloway, Gary E. Smith, Christopher D. Henry

INTRODUCTION Studies relating to the Oakville aquifer as presented in this report and by Henry et al. (this volume), are part of a larger , comprehensive examination of regional and local stratigraphic, hydro- geologic, and geochemical parameters within the Oakville Formation recently completed by the Bureau of Economic Geology. The Oakville serves both as a major Gulf Coast aquifer and an important uranium host (Fig. 1). Regional and local controls on hydrodynamics and hydrochemistry have important implications for hydrochemical exploration, the establishment of premining baseline parameters, and the design of post mining restoration procedures. Investigations of the Oakville Formation were de- signed for the purpose of determining the response of the aquifer to uranium extraction and were funded by the U.S. Environmental Protection Agency under grant numbers R-805357-01 and R-805357-02. Physical Stratigraphy Physical stratigraphic analysis shows that the Oakville Sandstone, a lithostratigraphic unit deposited by a major coastal-plain f luvial system, consists of five mappable, component depositional elements (Figs. 2 and 3). Each major component element is the product of one or more rivers traversing the Miocene coastal plain. In turn, each river possessed a unique sediment load, discharge characteristics, and source terrane. Consequently, each element exhibits distinguishing geometric and compositional parameters that potentially influence the flux and hydrochemical evolution of contained ground waters (Galloway, Henry, and Smith, in preparation). The Oakvil le Sandstone, as mapped and interpreted as a lithostratigraphic unit in the study area, corresponds closely to the Jasper aquifer system, an equally well-defined Gulf Coastal Plain hydrogeologic unit (Baker, 1978). Principal surrounding hydrogeologic units include the underlying Catahoula confining system, the Jasper aquifer system itself, and the overlying Burkeville confining system (lower Fleming mudstones). The Evangeline aquifer system includes much of the Fleming Formation. The Jasper aquifer system is bounded above and below by relatively less transmissive, finer grained confining systems, although absolute transmissivity varies greatly within both the Jasper and confining units. Lithostratigraphic and hydrogeologic boundaries coincide almost exactly within the Hebbronville flu- vial axis (Fig. 3). Correspondence of geologic and hydrostratigraphic boundaries is good within the George West axis; farther to the northeast the correlation of the Jasper aquifer with units mapped as Oakville Formation diverges to varying degrees. A complete analysis of these trends and a study of the depositional facies comprising the Oakvillle are included in Galloway, Henry, and Smith (in preparation). REGIONAL HYDROGEOLOGY The stratigraphic, compositional, and structural framework of the Oakville Formation and the mosaic of interrelated depositional facies that are combined in this framework play a key role in defining the hydrogeology of the Oakville. Furthermore, a combination of climate and hydrogeology, as well as past and present socioeconomic conditions, has determined water and land use patterns within the region of Oakville outcrop. Utilization of Oakville Ground Water Stratigraphic control for determining which wells produce ground water from the Oakville aquifer was established by preparing structural and isopach maps of the Oakville Formation using regional electric log cross sections. Surface elevation and screened interval data (or total well depth, if open-hole completion techniques were used) from each water well, combined with the stratigraphic data, allowed accurate assessment of the producing aquifer for individual wells. Information on well and screen depths, water levels, and usage of water from

Jan 1, 1980

By James H. Boettcher

INTRODUCTION A complex interaction of worldwide economic and political forces is increasingly requiring 3 primary participants for the successful development of large natural resource projects in developing countries. They are the host government of the developing country (the "host government"), one or a consortium of international natural resource companies, (the "Resource Company") and one, or more likely, a syndicate of international lenders. The host government typically controls the rights to its country's natural resources and establishes the economic ground rules for their development. However, because of worldwide inflation and the depletion of easily accessible, high-grade resources, the nominal and real capital development and operating costs of projects have been spiraling. Moreover, the depletion of high-grade and mineralogically uncomplicated resources also raises the technical and operating risks associated with resource recovery. Thus, despite increasing political self-consciousness and economic nationalism in developing countries, international resource companies are still often necessary project sponsors since they can provide, among other things, the required technical and management expertise and equity capital. The presence of these factors, and often the addition of worldwide market access in a project, is often critical in determining whether or not the project will be considered creditworthy by international commercial lenders. The international commercial lender is often the critical third party in project development, due in a large part to the ever escalating-costs of project developments relative to the financial resources of many companies and even a growing number of countries. In addition, lenders have other reasons for taking more than a passive interest in all aspects of a project's development. These reasons include the following: 1. Projects are often financially structured such that the primary security for a loan, once completion and performance standards are met, is the cashflow of the project rather than recourse to its sponsors. 2. Lenders, in addition to the "project risk" just described, are frequently asked to assume various elements of "political" risk which nay put them in a sensitive economic position between the host government and international resource firms (This is discussed later). 3. International banks today have large loan portfolios of developing country debt with final maturities ranging from one to fifteen years. The various current projects undertaken are the building blocks of most developing country economies that will hopefully contribute to the long run economic development of a country as well as generate the foreign exchange necessary to repay foreign loans in the future. In this regard it is useful for lenders to realize whether a given project "makes sense" in terms of a country's natural resource endowments and competitive advantages over other countries. The type of framework discussed in this article would help lenders to better make such assessments. In order to facilitate the continued international flow of capital and technology to developing countries and of readily available supplies of raw materials from them, it is important for each of these three parties to increase its awareness of the goals and objectives of the other parties as well as the bargaining process that results in the legal, financial, credit and fiscal structures by which a joint venture project ultimately proceeds. Each of the parties faces increasingly complicated accept/reject decisions when they are faced with difficult choices among. a wide range of alternative structural combinations each of which has different implications for risk and reward to them. Therefore, by increasing the mutual, 3-way awareness of the decision processes of the other parties, it should be possible to: • provide better information and results in the formation of more rational expectations by all parties going into negotiations, • facilitate the project formulation process by allowing parties to focus more clearly on the areas of common interest and conflict, • result more frequently in final structures and agreements that better reflect the economic and political realities associated with a project and thus • result in more creative, innovative agreements that should reduce the need for changes to them and thus promote the kind of long run political stability conducive to attracting capital and further investment.

Jan 1, 1982