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By John Hays Hammoud

At the Annual Business Meeting of the Institute, held February 19, 1907, the following persons were elected Council. President of the Council, John Hays Hammond, New York, N. Y. Vice-Presidents (for two years), Samuel B. Christy, Berkeley, Cal. ; John A. Church, New York, N. Y.; Persifor Frazer, Philadelphia, Pa. Councilors (for three years), B. F. Fackenthal, Jr., Easton, Pa.; H. 0. Hofman, Boston, Mass.; Walter Renton Ingalls, New York, N. Y. Secretary. of the Council (for one year), Rossiter W. Raymond, New York, N.Y.

Mar 1, 1907

. F. W. SPERR, JR.,* Pittsburgh, Pa.--Mr. Malcolmson states that the Carbocoal process produces ammonium sulfate in excess of that normally recovered in the ordinary byproduct coke process. Table 3 indicates that 20,000 to 25,000 lb. of sulfate of ammonia are obtained in carbonizing 1000 tons of Clinchfield coal. This is a high-grade coal and yields from 26 to 28 lb. of ammonium sulfate per ton in a modern byproduct coke oven. On the next page, 21 lb. is stated as the yield of ammonium sulfate per short ton of raw coal; this is less than the average production from any well operated byproduct coke-oven plant treating coal of the character usually coked, in Pennsylvania and Ohio. The statement as to the comparative yields of light oil is somewhat misleading in view of the results obtained during the past year or two by the more modern byproduct coke plants. The plants put in operation by the H. Koppers Co., during the past two years, are producing about 3.5 gal. of light oil per short ton of coal, and several of these plants are producing more than 4 gal. per ton. The yield of pure toluene runs from 0.45 gal. to 0.55 gal. per ton. .The quality of the light oil .obtained from the Carbocoal process is of much greater importance than would be inferred by one not closely familiar with the subject. The presence of paraffins in the benzol and toluol fractions seriously detracts from their commercial value; the benzol and toluol fractions derived fro in the Carbocoal process contain about 50 per cent, of paraffins. It should be thoroughly understood what these paraffins are. They are simply hydrocarbons that go to make up ordinary petroleum, and if a successful method for the removal of paraffins from benzol and toluol has been developed, this can at once be applied to several well known processes by which benzol and toluol can be made directly from petroleum, which have as yet been total failures on account of the contamination of these products by paraffins.

Jan 11, 1918

By W. A. Hockings, D. W. Fuerstenau, A. L. Mular

This paper briefly describes a simple air pycno-meter and its use for rapid determination of the composition of mixtures of solid particles. Research on such problems as the pelletizing of solids, the mixing of solid particles, and the comminution of mixtures can be simplified by means of this analytical tool. THEORY OF OPERATION Liquid pycnometers1 are commonly employed to measure volumes. These devices are time consuming and sometimes give inconsistent results. The liquid used in the pycnometer may have an undesired influence on the material to be measured; moreover, complete displacement of air by the liquid is seldom

Jan 1, 1963

By AIME AIME

TWENTY-TWO sections and all four of the divisions sent delegates to the annual meeting. They became so interested in the wide ranging dis6ussion of old and yet ever-new problems of Institute affairs that three instead of two sessions scheduled were necessary. Monday morning the meeting assembled with President Bassett presiding in the absence of President-elect Tally, who had been called to Baltimore by the serious illness of a brother. Thursday morning Vice-president Turner presided until Mr. Tally appeared after which the latter guided the sessions. Since reports from all of the active sections save one had been mimeographed and sent in advance to the delegates, detailed reports from each were dispensed with. The discussions dealt largely with membership problems, both local and national, with financing, speakers and programs, visits from national officers, and the conduct of the annual meeting. Many interesting and constructive suggestions were made and will be reported back to the sections by the delegates.

Jan 1, 1931

By Whitman E. Brown, Louis J. Erck

The installation in 1948 of a Hum-phrey~ spiral concentrator section at the Hill-Trumbull plant of The Cleve-land-Cliffs Iron Co. is the latest commercial method on the Mesabi Range being used for the recovery of fine iron ore. In two stages of concentration 84 spirals treat approximately 120 long tons per hour of minus ? in. ore. These spirals augment the production of the heavy-density plant which recovers the plus 36 in. iron from the plant crude ore. Structure of the ore is such that, when crushed, about 50 pct of the plant crude is minus ? in. size. After de-sliming in a 66 in. Akins classifier, grinding the classifier product in a ball mill and again desliming in a 78 in. Akins classifier about 15 pct of the crude ore remains to be treated in the spiral plant. Overall recovery of the ball mill feed in the Hill-Trumbull spiral plant during the 1948 season was about 53 pct of the weight and 66 pct of the total iron content. Of the actual feed delivered to the spirals from the 78 in. classifier 64.9 pct of the weight was recovered containing 73.7 pct of the total iron. The average analysis of the spiral concentrate is 55.05 pct Fe and 14.83 pct SiO2. An average of mill assays during the 1948 season is given in Table 1. The Hill-Trumbull plants treat both wash ore and jig-type ore. During the 1948 season spirals were used only on the fine sizes of jig-type ore. At times the deslimed minus ? in. size is of sufficient grade to warrant bypassing the spirals but in the main the fine size is delivered to the 48 first stage spirals and thence to the 36 cleaner or second stage spirals. In the past several years numerous Mesabi Range ores in the fine size cate- gory have been tested by a wide variety of beneficiating equipment. The prodigious amount of research devoted to the recovery of values in the fine ore reflects the dire need of the iron industry to squeeze the last possible unit of iron from the mined ore and to develop suitable equipment and processes to satisfactorily concentrate the leaner horizons as they are encountered in the process of mining. Large governmental and private appropriations have been allotted, new laboratories built, research and technical staffs increased, and operator-manufacturer cooperative agreements applied to hasten the solution of the problem. The University of Minnesota, at its Eighth Annual Mining Symposium in January 1947, dedicated as its objective the bringing to light of technological developments in iron ore beneficiation. Papers were given at that time relating to processes being developed. Specifically, these papers reviewed flotation, Baum jig, selective media concentrator, Hardinge concentrator, Dorrco sizer, heavy media concentration, Hydrotator, and the Humphreys spiral. The Cleveland-Cliffs Iron Co., after encouraging results from tests in a small pilot plant using one full size spiral, made the first commercial installation of Humphreys spirals on the Mesabi Range at their Hill-Trumbull mine, Taconite, Minn. This company

Jan 1, 1950

By W. T. Isbell

Although the pressure to meet the heavy demand for lead still took precedence over new metallurgical developments in the field of roasting, smelting, and refining of lead in 1948 there nevertheless has been considerable activity in the experimental development of new processes and improvements as well as plans for the modernization of many plants both here and abroad. Increasing labor and material costs have stimulated the trend to greater mechanization, revamping of flow sheets, and construction of larger units wherever possible. Although there have been many serious labor stoppages in the United States, Mexico, and Europe, labor supply has improved in most plants even if it has fallen off in efficiency.

Jan 1, 1949

By D. F. Lascelles

D. F. Lascelles (School of Earth Sciences, MacQuarie University, North Ryde, N. S. W., Australia)- The paper contains many misconceptions commonly held by both geologists and soil scientists with regard to soil processes. The analogy between supergene copper enrichment and "nickel laterite" deposits is quite apt and the use of nomenclature from the former in describing supergene nickel deposits is justified. However, care must be exercised with regard to the notable differences in

Jan 1, 1974

By L. O. Howard

What was perhaps the first attempt at basic converting in the Southwest was made by the late Charles F. Shelby at Cananea early in 1907, when he removed the acid lining from one of the 8 by 12-ft. barrel-type converters then in use at the reduction works of the Cananea Consolidated Copper Co. and substituted a lining of one course of magnesite brick. In this shell, he blew 21 taps (about 180 tons) of matte to white metal before the brick gave out along the tuyhre line. In every case, the white metal so made was transferred and blown to copper in other converters. The cost of the lining was $700 and Mr. Shelby gave up the experiment as impracticable. No further serious effort to bessemerize copper mattes in a vessel having a more or less permanent lining of basic brick was made by any of the large copper smelters in the Southwest until some months after Messrs. Peirce and Smith had brought the question permanently before the public, and had proved it to be a metallurgical and financial success by their work at Baltimore and Garfield. Early in 1911, the Cananea Consolidated Copper Co. had in operation at its reduction works at Cananea, Mex., several 8 by 12-ft. barrel-type converters lined with magnesite brick which had previously been operating with acid linings. In the 18 months following, these converters produced 50,000 tons of copper. In June, 1912, this company installed the first of its new equipment of six stands of electrically operated 12-ft. Great Palls type converters, and shortly afterward discontinued the use of the smaller shells. In September, 1911, the Consolidated Kansas City Smelting & Refining Co. had installed at its El Paso plant two 10 by 26-ft. Peirce-Smith converters. Later, in March, 1913, one standard Great Falls type converter was added. About the time the Peirce-Smith converters were going in at El Paso, the Calumet & Arizona Mining Co. was experimenting with basic linings in 7-ft. by 10-ft. 6-in. barrel converters at its plant in Douglas, Ariz. These efforts were sufficiently successful to enable the plant to "handle the total output of copper in these small shells until the standard Great Falls converters were substituted in June, .1914.

Jan 1, 1917

By Russell B. Cornell, William B. Plank

AT the close of the academic year 1940-'41 the largest number of students ever recorded received their first or bachelor degree in the mineral technology schools of the United States. The total of men thus prepared to enter their professional careers in the mineral industries was 1601, a number nearly 12 per cent larger than two years ago and nearly 75 per cent larger than four years ago. Notwithstanding this increase in the number of graduates and as had been predicted in the preliminary report in February, there was a slight decrease in the total student population of the schools in both the United States and Canada. During the college year 1940-'41, 9133 students were enrolled in the 54 schools of the United States and 764 in six of the seven schools of Canada.

Jan 1, 1941

By L. O. Howard

WHAT was perhaps the first attempt at basic converting in the Southwest was made by the late Charles F. Shelby at Cananea early in 1907, when he removed the acid lining from one of the 8 by 12-ft. barrel-type converters then in use at the reduction works of the Cananea Consolidated Copper Co. and substituted a lining of one course of magnesite brick. In this shell, he blew 21 taps (about 180 tons) of matte to white metal before the brick gave out along the tuyère line. In every case, the white metal so made was transferred and blown to copper in other converters. The cost of the lining was $700 and Mr. Shelby gave up the experiment as impracticable. No further serious effort to bessemerize copper mattes in a vessel having a more or less permanent lining of basic brick was made by any of the large copper smelters in the Southwest until some months after Messrs. Peirce and Smith had brought the question permanently before the public, and had proved it to be a metallurgical and financial success by their work at Baltimore and Garfield. Early in 1911, the Cananea Consolidated Copper Co. had in operation at its reduction works at Cananea, Mex., several 8 by 12-ft. barrel-type converters lined with magnesite brick which had previously been operating with acid linings. In the 18 months following, these converters produced 50,000 tons of copper. In June, 1912, this company installed the first of its new equipment of six stands of electrically operated 12-ft. Great Falls type converters, and shortly afterward discontinued the use of the smaller shells. In September, 1911, the Consolidated Kansas City Smelting & Refining Co. had installed at its El Paso plant two 10 by 26-ft. Peirce-Smith converters. Later, in March, 1913, one standard Great Falls type converter was added. .About the time the Peirce-Smith converters were going in at El Paso, the Calumet & Arizona Mining Co. was experimenting with basic linings in 7-ft. by 10-ft. 6-in. barrel converters at its plant in Douglas, Ariz. These efforts were sufficiently successful to enable the plant to handle the total output of copper in these small shells until the standard. Great Falls converters were substituted in June, 1914.

Jan 9, 1916

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By Ray W. Ballmer

"For his leadership in developing and managing large, complex, and technically innovative mines, particularly the outstanding and successful Bougainville mine and for his lecture, 'The Moving Targets of Mine Development '. " Recipient of the 1981 D. C. Jackling Award

Jan 1, 1982

By John V. Beall

Monotonous flood planes flanked either side of the road as we drove in the embassy car from the airport to downtown Seoul. We crossed the brown waters of the Hann River, meandering over mud flats. A great, gnarled tree bore beautiful fall colors of gold. "That is a Ginko Tree, the oldest living fossil, probably a hundred million years old;" said Jean W. Pressler. Compared to other cities of the Far East, the traffic in and around Seoul was sedate. Few motorcycles or bicycles, and little superfluous horn tooting. "This is the best season in Korea. We have long beautiful springs and falls," said Pressler, chief of the mining branch of USAID, and he continued with a briefing on the country.

Jan 8, 1969

By Finney, W. R.

MUCH has been said and written of the "Big Inch," of the terrific obstacles encountered in its construction, of the colorful and tough men engaged in its building, but little has been publicized of the engineering and economic problems behind the scenes. Long before Pearl Harbor it was apparent to the petroleum industry that a critical oil shortage could be expected along the Atlantic seaboard, owing to delay in tanker deliveries as a result of convoy movements, and to allocation of vessels for foreign shipments. This area, with a normal consumption of approximately 1,800,000 barrels per day of oil and products, was almost entirely supplied by tanker. Pipe lines supplied an average of only 20,000 barrels per day in 1939, 40,300 barrels per day in 1940, and 55,000 barrels per day in 1941. A small amount of oil and products was also delivered via barge.

Jan 1, 1943

G. A. Moore—The tin-fusion method has been a very favorable possibility for many years. The authors apparently have settled the question that delayed the method for a long time by showing that no hydrogen is absorbed in the tin. This, of course, is very important. I want to make a few remarks concerning the absolute accuracy of analysis, which must be the final basis for deciding among the various methods. From the figures in the paper, there seems to be some re-maining slight discrepancy on the actual amount of hydrogen present in various samples which may be presumed essentially identical. (This is of the order of the precision of individual analyses but appears in averaged results.) From the analyst's viewpoint, the tally of hydrogen content can be regarded as occurring in three portions. First is a large portion which comes off easily and automatically during sample storage and later on heating in the apparatus. This is fairly easily analyzed. Second is an item which may be either positive or negative in the tally sheet. In warm or hot evolution, this is a portion which, in practice, can never be re-

Jan 1, 1951

The pellet plant, built by Dravo Corp, in Groveland, Mich., for the Hanna Mining Co., is now in full operation. Although using jasper, a type of iron ore with low iron content (approximately 28% Fe), the plant has a rated capacity of 1,250,000 tans of pellets per year. In its four years of existence, the nearby concentrating plant has seen its capacity increase from 700,000 tons to 1,500,000 tons a year as part of a major expansion program at Groveland. Utilizing the Dravo-Lurgi continuous grate process, the pellet plant produces %a-in. pellets of more than 60% iron content. The fully-hooded pelletizing grate, largest in the U.S., is 9 ft. 10% in. wide and 223 ft. 1% in. tong over 34 windboxes, with an effective hearth area of 2195 sq. ft. Drying, firing, and cooling functions are all carried out on this single piece of equipment.

Jan 4, 1964

By René de Batz

From 1754 to the end of 1895 the production of gold in Russia had been approximately as follows: Kilogrammes. Russia proper (Finland and the Caucasus),. .. 890 The Ural Region,........505,386 Western Siberia,........116,937 Eastern Siberia,........1,218,372 Total,.........1,841,085 of the value of more than $1,200,000,000.

Jan 1, 1899

By E. L. Bruce

THE district of. Patricia, in the province of Ontario, lies northwest of the Albany River and extends northward to Hudson's Bay. Formerly this was the unorganized district of Keewatin, the southern part of which was divided in 1912 between the provinces of Manitoba and Ontario. The interprovincial boundary now runs north from Lake of the Woods for 275 mi. and thence northeast 375 mi. to Hudson's Bay. This district is comparable in size to all the older part of Ontario south of the Canadian Pacific Railway east of Lake Huron-thus it is roughly one-third of the whole of the present provincial area. The central part of this great triangle is one of the least accessible parts of Canada. From it streams flow southward to the English River, southeastward to the Albany, northward to Hudson's Bay and the Hayes River, and westward to Lake Winnipeg. None of the streams is large and canoe travel is not easy. The only industry it has ever had is the trade in furs. Until the development of the airplane on a commercial basis, the only means of travel was by canoe or dog-train. There is not a mile of railway in the whole district. The two areas to be dealt with lie in the southwestern part of Patricia. Red Lake is 50 mi. east of the Manitoba boundary and 75 mi. north of the transcontinental railway from Cochrane to Winnipeg. Woman Lake is 50 mi. farther east and slightly farther north. The late Dr. D. B. Dowling, of the Geological Survey of Canada, visited Red Lake and spent some time there during his exploration survey from Lac Seul to Berens River in 1893. He also visited the Woman Lake basin during the same journey, but his examination of it was much less detailed, the great area covered by him during the one field season making it impossible to make more than a hurried reconnaissance. Some prospecting in the Red Lake district followed Dowling's exploration, but the distance from railway was too great for any systematic work to be done.

Jan 1, 1928

By AIME AIME

CHARACTERIZING the annual meeting as the biggest and best one yet has happened so repeatedly that some may suspect it has become a conventional phrase, like "good morning," and yet, what else can be said when not only one but all the many who express an, opinion use exactly those words, while the first of the two adjectives refers to a physical fact that is established by count. Perhaps there were hose who thought it not the best, but if so they were too tactful to say it out loud. So without further ado . let us admit that the one hundred and thirty-ninth general meeting of the A. I. M. E. held; as our By-laws provide, in New York during the third week of February, was the biggest and best of them all. Perhaps it is because we appreciate friendliness more as we grow older, but somehow the friendly atmosphere seems to rise slowly in temperature with the passing of the years. The actual atmosphere on the opening morning was quite the contrary, Feb. 17 being the coldest clay, so far, of this winter, and the suburbanites claimed that their thermometers had registered 5" below zero when they got up, though the official records of the weather man did not go that low. From that time the temperature steadily rose until Thursday afternoon, when the official record of 66" constituted a record high for Feb. 20 at New York. The weather man explained it by learned discussion of highs and lows, but we suspect the A.I. M. E. members must have had something to do with it.

Jan 1, 1930