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By E. E. Bach

The administration of industrial organization today embraces more than the cost of production and selling prices. Competition is deeper seated than mechanical devices, overhead charges, and a shrewd manipulation of the markets. Despite the " down-to-the-minute " equipment and the "last word in organization," it is quite evident that "capacity production" will be an unknown quantity until the workman is considered as a producer, in relation to his home, as he is now considered in relation to industry. Whether or not a man shall do an honest day's work is as much a psychological condition as it is a matter of physical strength or skill. His attitude toward his work each morning is determined, to a large degree, by the environment of his home. Whether this attitude, good or bad, obtains the day through will depend entirely upon the one fact as to whether the corporation which employs him does or does not differentiate between the mechanical factor and the human factor in industry. To be more specific, sociological work, under whatever name, should be of such a character as to influence the life of a workman in such a manner as to establish a cooperative interest in his work, foster within him a spirit of contentment in his home, lead him so to employ his leisure time that he will not lower his efficiency as a workman, destroy his domestic happiness, or endanger his standing in the community as a citizen. While no fixed rules of procedure can well be formulated for the development of the work, yet definite lines of activities will readily present themselves as applicable to the individual needs of a community. This is especially true where community influences and agencies pertaining to general welfare are easily correlated. Any definite work attempted must be determined by the type of the

Jan 1, 1918

ENGINEERS AVAILABLE (Under this heading will be published notes sent to the Secretary of the Institute by members or other persons.) Recent graduate desires position as surveyor or assistant to mining geologist. No. 112. Member, technical graduate with varied experience covering milling, cyaniding, plant design, mill and dam construction, underground work, and executive, examination and reporting on mining properties, desires position as superintendent of gold and silver property in United States or Latin America. No. 113.

Jan 7, 1914

By Henry M. Howe

Preparing the Metals.—Ordinary silver wire was hard-drawn to No. 23 Brown and Sharp gauge; it was cut in two, and one piece was carefully annealed in the ordinary way. The wire was prepared by Messrs. Guild and Delano, jewelers, Boston. The Ansonia Brass and Copper Co., Ansonia, Conn., kindly furnished me with some hard-drawn copper wire No. 31, A. W. G., and some of the same wire after annealing in the ordinary way.

Jan 1, 1885

By Fred P. Dewey

The product of the Muirkirk, Md., furnace has always enjoyed a very high reputation for strength ; and this is supported not only by its behavior in practice, both alone and in mixtures, but also by the following series of tensile tests, made at various times during the last fourteen years: South Boston Iron Co., November loth, 1874. Strength. Pounds Grade. per square inch. Density. No. 3,....... 30,685 7.2794 No. 4,....... 35,140 7.2713

Jan 1, 1889

Discussion of the paper of E. G. Woodruff, presented at the Butte meeting, August, 1913, and printed in Bulletin No. 78, June, 1913, pp. 1001 to 1010. F. A. LINFORTH, Butte, Mont.:-I have not had an opportunity of reading this paper thoroughly, but I would like to call attention to the possible use of the contours on fault planes. It is obvious that if the contours of fault surfaces call be determined, we will be able to determine the axes of the hollows in the fault surface. It seems probable, and there are examples to point to the accuracy of, the assumption, that the axes of these hollows may be the direction of movements on the faults, and if that is true it will aid materially in locating faulted ore bodies or the shoots of ore on the opposite sides of faults. A few such contour maps of faults have been attempted on some of the faults of the Butte district, and those faults which are believed to have the nearly normal movement exhibit for the axes of these hollows a line nearly up and down in the plane of the fault, but in those cases where the throw is believed to bee nearly horizontal we find that the axes of the hollows are almost horizontal lines. In other words, the movements on faults, I believe, would be more nearly indicated by the larger grooves in the fault surfaces than by the small slickensides and minor hollows that are seen, so that contour maps might be valuable in geology in that way. C. W. GOODALE, Butte, Mont.:-I received a letter from Mr. Woodruff asking me to take part in the discussion of his paper, but I have not had time to give the paper any study. I can certainly add my opinion to that of all the engineers here that the topographic maps of the government are of great aid to the engineer. When I visit a new district, the first thing I do is to see if that district has been covered by the U. S. Geological Survey avid if topographic map has been issued. And I find that some of the younger engineers frequently come into my office to see if I have such maps. I know in some cases the reports made out by engineers contain copies of these topographic maps, or clippings from them. I am sure that. the topographic maps furnished by the government are of very great value to our engineers.

Jan 11, 1913

By Enid C. Plante

To extend our knowledge of the flotation behavior of sulphide minerals, the response of the following minerals to ethyl xanthate as collector was studied by captive bubble and cylinder flotation tests: antimonite (Sb2S3), arsenopyrite (FeAsS), covellite (CuS), rnarcasite (FeS2), orpiment (As&.), pyrrhotite (FeS) and tetrahedrite (4CU2S, Sb2S3). Lollingite (FeAs2) was also exarnined to determine if its behavior could be correlated with that of pyrite or rnarcasite (FeS2. Experimental Method Mineral for Flolation and Contact Tests Mineral was prepared in the manner a1ready described1 and its behavior both freshly ground and "oxidized" was studied. Tests in which the mineral was allowed to oxidize for various periods showed that a uniform response to xanthate was reached in two days or less. Oxidation Products The soluble oxidation products from most of the above minerals were measured and their effect on the flotation of the mineral studied. The mineral samples were wet ground to minus-52 mesh and deslimed, and 20 g of this material placed in 200 ml of distilled water of a measured pH value, and CO2-free air bubbled through each suspension at a constant rate (about I bubble/sec) for 5 days. It has been shown1 that the size of the mineral is unimportant in the rate of formation , oxidation products and that probably the supply of oxygen to the mineral is the rate-determining step. At the end of 5 days the pH value of the 'supernatant liquid was measured again, the mineral filtered off and the soluble products determined. Methods for estimation of sulphur acids, ferrous and ferric iron and copper have already been described.l No satisfactory method was found for antimony. Arsenic was estimated as the arsenate.2 Flotation of "Unoxidized" Minerals with Ethyl Xanthate as Collector Fig I to 3, 4. 6, show the effect of alkali and cyanide as depressants for the minerals with 25 mg potassium ethyl xanthate per liter as collector at 35°C. Wark and Cox8 have shown that with ethyl xanthate as collector, galena, pyrite and chalcopyrite show a greater tolerance to cyanide and hydroxyl ions at room temperature than at 35°C Covellite (Fig I), marcasite (Fig 2) and pyrrhotite (Fig 3) behave similarly. The independence of the curves for pyrrhotite at 35°C with respect to cyanide

Jan 1, 1949

GENTLEMEN Herewith are transmitted reports from the Treasurer and of the principal standing committees of the Institute. To these special reports members are referred for details as to the year's work. Despite the unfavorable business conditions obtaining throughout the year, the Institute was able to carry on its various activities without curtailment and without drawing on the surplus accumulated through previous years. In fact, small additions were made to the Life, Member¬ship and various other funds. It is highly desirable that such additions should continue to be made, especially to the Life Membership fund, for reasons reported last year. At present, money must be used from current receipts in order to enable the Institute to fulfill its obligations to those who on joining the organization commuted their dues by a single payment. In addition, with the passage of years the number increases of those who have paid dues forty years or more and who, by reason of age or dis¬ability, are unable longer to practise their profession. These men have supported the Institute through their active professional life and it would be a pity to lose them as members through resignation or for failure to keep up their dues. In accordance with the By-laws the Board has authority to advance such members, on application, to the Honor Roll of Senior Members and to relieve them from further payment of dues. It has been the policy of the Board to do this liberally, but to keep up this, as well as to meet other obligations, it is necessary for money to be provided. It has been estimated by the Treasurer that nearly $50,000 additional should be placed in the Life Membership fund as soon as possi¬ble to meet these obligations without using current income and to that end it is necessary, not only to avoid running behind currently but to earn, if possible, some surplus each year. The small amount transferred to the Life Membership fund from surplus this year was, as a matter of fact, made possible by certain members paying personally bills that were properly chargeable to the Treasury. Such generosity is common among those active in Institute work and probably no year would have closed with a surplus except for it.

Jan 1, 1923

By R. L. Loofbourow

Trends in the metal mining industry were definitely down in 1954. With a record in 1953 of $1.8 billion output, the last year dropped to $1.5 billion, the lowest value since 1950. The decrease in iron ore production alone accounted for at least 10 pct of the decline. PROBABLY more than any previous year, political debates of 1954 marked a new high for the mining industry. Lead and zinc prices gave forth with minor rallies producing no real improvements. An anticipated drop in copper prices never came to be. Early in the year arguments for more free trade versus tariffs to restrict imports were voiced eloquently by Charles P. Taft, president, Committee for a National Trade Policy, and Andrew Fletcher, president, St. Joseph Lead Co.

Jan 3, 1955

By Helmer Heldstrom

Gravity surveying with the torsion balance or the pendulum for ore prospecting purposes has generally not been considered practical or even possible. It is the intention of this paper to show that a fast and sensitive gravimeter can be very useful in ore prospecting, as an auxiliary to the electrical and magnetic instruments. A number of gravimeters have been constructed and put in practical use in the last seven or eight years; for instance, by Ising, Lejay-Holweck, Haalck, Hartley, Thyssen, Noergaard, the Humble Oil and Refining Co. and the Gulf Production Co. Their main application, apart from their use for geodetic surveys, has been for structure mapping in oil prospecting. There is no record that any of them have been used for ore prospecting. About the middle of 1934 the Boliden Mining Co., in Sweden, began experiments in constructing a static gravity meter sensitive enough for ore prospecting. Calculations and considerations that will be discussed later in this paper showed that this would necessitate an accuracy in the measurements of 0.1 milligal—roughly, one ten-millionth part of the total force of gravity. The first successful practical field tests of the instrument were made in January 1936. About the middle of 1937 the Boliden gravimeter was perfected. Ore prospecting with this instrument is now regular practice in Sweden, especially for the testing of indications given by geoelectric and magnetic methods. Gravity Anomalies that May Be Expected from Ore Bodies According to Newton's law, a mass M attracts the unit mass in a distance r with the force , GM where G = the gravitational constant = 6.68 . 10-8 c.g.s units. In the c.g.s., or centimeter-gram-second, system the force of attraction is expressed in the unit "dyne," which has the physical dimension c.g.s.-2 and denotes the force needed to accelerate the unit mass in one second to

Jan 1, 1940

By Helmer Heldstrom

Gravity surveying with the torsion balance or the pendulum for ore prospecting purposes has generally not been considered practical or even possible. It is the intention of this paper to show that a fast and sensitive gravimeter can be very useful in ore prospecting, as an auxiliary to the electrical and magnetic instruments. A number of gravimeters have been constructed and put in practical use in the last seven or eight years; for instance, by Ising, Lejay-Holweck, Haalck, Hartley, Thyssen, Noergaard, the Humble Oil and Refining Co. and the Gulf Production Co. Their main application, apart from their use for geodetic surveys, has been for structure mapping in oil prospecting. There is no record that any of them have been used for ore prospecting. About the middle of 1934 the Boliden Mining Co., in Sweden, began experiments in constructing a static gravity meter sensitive enough for ore prospecting. Calculations and considerations that will be discussed later in this paper showed that this would necessitate an accuracy in the measurements of 0.1 milligal—roughly, one ten-millionth part of the total force of gravity. The first successful practical field tests of the instrument were made in January 1936. About the middle of 1937 the Boliden gravimeter was perfected. Ore prospecting with this instrument is now regular practice in Sweden, especially for the testing of indications given by geoelectric and magnetic methods. Gravity Anomalies that May Be Expected from Ore Bodies According to Newton's law, a mass M attracts the unit mass in a distance r with the force , GM where G = the gravitational constant = 6.68 . 10-8 c.g.s units. In the c.g.s., or centimeter-gram-second, system the force of attraction is expressed in the unit "dyne," which has the physical dimension c.g.s.-2 and denotes the force needed to accelerate the unit mass in one second to

Jan 1, 1940

By A. W. Ambrose

The underground losses of oil exceed by hundreds of thousands of barrels all the oil that has been lost in storage, transportation, or refining. The quantity lost is, of course, indeterminate; but when it is considered that the contents of an entire oil field have been excluded from recovery by invading waters, some idea of the amount wasted may be gained. Similarly, enormous quantities of gas have been lost underground. Conservation of the oil, therefore, should start before it is brought to the surface rather than after it is placed in storage tanks. Water is one of the most important causes for underground losses and the operator should give as serious consideration to an underground flood of water as he would to a destructive surface flood. The best insurance, of course, is to have the wells drilled in such a manner that water has no access to the productive oil and gas horizons, and on abandonment the wells should be properly plugged. The encroachment of edge water and the occurrence of waterin;the base of an oil sand present a very serious problem to an oil company sooner or later these waters are bound to cause considerable damage, if they do not entirely destroy the possibilities of further production. Too often, however, a field has been considered to be in a hopeless condition, whereas wells in as bad a condition in other areas have been repaired and the life of the field appreciably lengthened. The corrections are very often suggested by technical study. Very successful results have been accomplished by detailed underground work in the California oil fields, in Cushing, Oklahoma, and in other areas. The purpose of this paper is to outline briefly1 general methods of analyzing oil-field water problems in a producing or in a producing and developing oil field, with a view to suggesting repair work on offending wells. Reference is continually made to producing oil wells; the same general method of procedure, however, should be adopted in a gas field.

Jan 1, 1921

By William R. Chedsey

ALTHOUGH few changes can be reported in educational methods at the mineral technology schools during 1940, other events have taken place of direct interest to, and that will have a profound effect upon, mineral industry education on the United States. In the erection of new buildings, some notable changes have been made on the campus, The U.S. Bureau of Mines Experiment Station at the University of Utah, Salt Lake City, was dedicated on May 20. The construction and equipment of this building cost between $300,000 and $400,000. It will be the general headquarters for the metallurgical division of the Bureau and will have a pronounced effect upon the mineral industries research program at the University.

Jan 1, 1941

By AIME AIME

WITH a brilliance undimmed by hard times, the annual dinner on Wednesday evening, Feb. 17, was a complete success. More than 600 members, friends and ladies gathered early and filled the anterooms of the grand ballroom of the Commodore Hotel, while the president's reception was in progress, and then at the sound of the gong and with the music of the orchestra, rising above the happy din of conversation thronged to their seats at the tables. Following the "potage Ambassadeur"-probably to eliminate a very real hazard-the usual toy balloons appeared and a gay and lively scene, punctuated by multitudinous explosions, ensued, as the hundreds, of variously colored spheres bounced yon and hither until their gaseous existence was ended on the glowing end of a cigar or cigarette. On the speakers' dais sat C. E. Beecher, Chairman Petroleum Division; J. Vipond Davies, representative of A. I. M. E. on the Alfred Noble Prize Committee; Corbin T. Eddy, Alfred Noble Prize recipient; A.' S. Tuttle, Vice-president American Society of Civil Engineers; W. C. Mendenhall, Director U. S. Geological Survey; George C. Bateman, representing the Canadian Institute of Mining and Metallurgy; Paul D. Merica, Institute of Metals lecturer and Chairman James Douglas Medal Committee; Champion Herbert Mathewson, James Douglas Medalist; Robert E. Tally; retiring President; G. Temple Bridgman, toast-master; Scott Turner, incoming President; F. W. Bradley, William Lawrence Saunders Medalist; Fred Searls, Jr., Chairman William Lawrence Saunders Gold Medal Committee; Arthur Notman, President Mining and Metallurgical Society of. America; Robert J. Grant, Director U. S. Mint; Landon F. Strobel, Chairman New York Section; Howard Scott, recipient of Robert W. Hunt Prize; George. B. Waterhouse, Chairman Robert W. Hunt Prize Committee; F. M. Becket, Chairman Iron and Steel Division; Ora E. Clark, recipient of the J. E. Johnson, Jr., Award; Richard Peters, Jr., Chairman J. E. Johnson, Jr., Award Committee; E. C. Bain, Howe Lecturer; Sam Tour, Chairman Institute of Metals Division; and H. Foster Bain, Chairman. Charles F. 'Band Foundation Committee. ' Each was heartily applauded when introduced by Mr. Bridgman, as was Mrs. Tally, who also made a bow. The toastmaster made graceful reference in introducing Mr. Strobel, to the large part the latter had taken in planning the meeting.

Jan 1, 1932

By Charles R. Holmes

MORE than 70 igneous pipes and dikes are known to occur in Cambrian sediments throughout an approximately circular area of about 75 sq miles in southwestern Ste. Genevieve County and southeastern St. Francois County, Mo., across the southern portion of the Farmington anticline, which is outlined in fig. 1. From evidence obtained from fossil fragments taken from some of the intrusive, and from the similarity in composition of the more basic intrusives to those of known age in surrounding states, these pipes and dikes are believed to be at least post-Devonian and probably Cretaceous in age. As first postulated by Rust, these intrusives are believed to represent explosion tubes, or diatremes, punched through great thicknesses of solid rock by gaseous pressure. The particular intrusive studied is located about 1 mile north of the small town of Avon at an elevation of 880 ft in the EM SES NE% of sec. 2, T. 35N, R. 7E. Outcrop is through the Bonneterre dolomite in two separated exposures. The larger outcrop extends east and west for about 50 ft along a tributary in a small ravine (fig. 2). The smaller exposure occurs as a few scattered patches over an area 20 ft square about 100 ft to the north. The area between the exposures is covered, but scattered patches of the Bonneterre dolomite outcrop throughout the area surrounding the diatreme. Where exposed, contact relations show the surrounding dolomite to be shattered and metamor- phosed to a fine-grained rock for a distance of 15 to 20 ft from the intrusive. The igneous rock occurs as a dark greenish-gray porphyry near the center of the diatreme and as a fine-grained, greenish-gray material containing lapilli and metamorphosed fragments of dolomite near the contact with the country rock. The most abundant original mineral of the porphyritic rock is olivine now largely serpentinized as the result of extensive hydrothermal alteration at time of emplacement. The most common constituent of the fine-grained rock, which occurs near the border of the intrusive, is calcite. Mica is a common constituent of both types of rock, occurring as tufts or

Jan 1, 1950

By Edward W. Parker

Note.—The material from which this paper has been prepared was collected tor the U. S. Geological Suvey Bulletin, No. 316, Contributions to Economic Geology, 1906, and appears also, though in somewhat more extended form without illustrations, in that publication. Although the briquetting of coals and lignites has been carried on for many years in Europe, and has reached a particularly high state of development in France, Belgium, and Germany, it has made comparatively little progress in the United States. The causes for the backwardness of the United States in this regard are several, and first among them has been the abundant supply of cheap raw fuel with which the manufactured article has to compete. With our millions of acres of coal-productive territory, from which the product can in moat cases be cheaply extracted, it has appeared in many districts more economical to waste the slack or culm, which constitutes a considerable percentage of the product, than to attempt to save it at the additional expense required for briquetting. It is for this reason that the view in all sections -of the anthracite-region of Pennsylvania is marred by the unsightly culm-banks which encumber the ground, and that in some of the bituminous-districts one sees huge piles of unmarketable slack allowed to burn up in order to get rid of them. When the coal is of a coking quality, or when the slack can be used for steaming-purposes, these losses are not sustained, but many thousands of tons of what might be converted into usable fuel have been wasted every year simply because of the increased expense involved in its preparation.

Jan 1, 1908

By W. S. Stahmann, F. W. Bowdish

Previously published experimental data showing that both collectable and non-collectable sulfide films may be formed on chrysocolla were analysed, and chemical mechanisms were proposed for the formation of the films. A special technique was developed by which the quantity of sulfur adsorbed was determined for samples sulfidized under different conditions of pH and soluble sulfide concentration. The data on sulfur adsorption were used together with the expression for the equilibrium constant for the proposed reaction to indicate the validity of the chemical mechanism theory. A recent paper 1 about contact angle studies on chrysocolla reported the effects of pH value and sodium sulfide concentration during sulfidization upon the character of the surfaces produced. In each experiment the surface of a specimen of chrysocolla was prepared by grinding it with fine abrasive and washing it in tap water. The specimen was then placed in the sulfidizing solution for 10 min, rinsed in tap water, treated for 15 min in a solution containing 30 mg of potassium amyl xanthate per liter, rinsed in distilled water, and tested for air adhesion in a contact angle apparatus. The results, when plotted as in Fig. 1, showed an island representing conditions giving air adherent or collectable surfaces surrounded by conditions giving non-collectable surfaces. Particular interest may be attached to the region of non-collectability to the right of and above the island in Fig. 1, and to the boundry curve separating these two regions. It is apparent that at any pH from 4.0 to 6.0, where a collectable surface may be produced, a sufficient increase in the sulfide concentration results in a non-collectable surface. Thus it appears that too much soluble sulfide has a depressing effect upon the mineral, just as it has in sulfide flotation. This paper presents some speculations regarding the chemical mechanisms by which the collectable and non-collectable sulfide films may be formed and reports on a physical-chemical study intended to support these speculations. THEORETICAL CONSIDERATIONS The experimental results presented in the previous paper were analysed in several ways in an attempt to understand better the chemical mechanisms involved. For several points on the boundary to the right of the region of contact in Fig. 1, molar concentrations of H+, OH-, HS-, and S= ions, as well as various ion concentration products, were calculated. Following the reasoning of Wark and Cox, 2,3 no single kind of ions may be credited with causing depression of the surface because none of them have a constant con-

Jan 1, 1968

By Grover J. Holt

A DETAILED description of the many variations in iron mining and transportation practice in Minnesota would require much space. Since a fairly detailed description of the practices then in use was published in the guidebook issued in connection with the meeting of the Institute on the iron ranges in I920, and subsequent developments have been described by E. E. Hunner,1 M. H. Barber,2 and A. E. Anderson, J. M. Riddell and G. J. Holt,3 it will not be necessary here to do more than review the highlights of current practice. Details on any points of interest can be obtained through correspondence with the operators involved. [T] The iron ores of Minnesota, which have been formed through enrichment of the iron formation in which they occur, largely by the removal of silica, are usually covered by a blanket of glacial drift known locally as "surface." Surface material, including sand, clay, hardpan and boulders, makes up the greater portion of the stripping in open-pit operations. In some instances, stripping also includes taconite and "paint rock," directly below the surface material and overlying the ore. Taconite is the iron formation, a ferruginous chert with interbedded slate layers. "Paint rock" is a local term for oxidized slate layers interbedded in the iron formation, high in phosphorus, alumina and moisture. The iron ores fall into two classes: (I) direct shipping (merchantable ores or ores requiring no treatment except possibly crushing or screening to make an acceptable sized product), and (2) ores requiring beneficiation (such as sintering, drying, washing, jigging, high-density treatment, or magnetic separation in the case of magnetite). The Mesabi Range produces chiefly soft Bessemer and non-Bessemer ores. The Cuyuna Range produces mainly low-manganese brown ore and high-manganese black ores, with some iron ore. The Vermilion Range yields mainly Besse¬mer and non-Bessemer iron ore, with some hard or lump ore that finds use in the open hearth. Open-pit mining is limited to the Mesabi and Cuyuna Ranges but underground mining is done on all three. The choice of mining methods is determined by the relative economics of overburden¬-removal and shaft-mining costs. STRIPPING PRACTICE Common practice has been to remove the bulk of the overburden during the winter season and to mine during the summer. In the present emergency many operators are forced to forego the economies attained by year-round utilization of equipment and to equip for, and carry on, stripping and mining simultaneously. In the normal years or lean years to come, most properties probably will be over-equipped and high depreciation charges will have to be absorbed.

Jan 1, 1942

By J. B. Warriner

S. A. TAYLOR, Pittsburgh, Pa.-What was the distance of haul? J. B. WARRINER.-There is practically no limit to the haul. The length is determined entirely by the feasible location for a dump. -I have known of hauls up to 2 miles in length. R. V. NORRIS, Wilkes-Barre, Pa.-This paper was originally presented to the Anthracite Section as the result of the appointment of Mr. Warriner as the Chairman of the committee to study this matter and present this paper. As he has stated, he obtained data very freely from all the stripping operations in the region, and it is a type of paper of which we should have more in the Transactions. Two or three things in it strike me as particularly valuable. The two tables, 1 and 2, showing the coal remaining, have been the result of a great amount of study, as it is not an easy matter to obtain data as to the amount of coal left in mining. As an example, one of the, anthracite mines was mined and robbed out in 1850, so the maps show. That mine is today producing 250,000 tons of coal, over 50 per cent. from the bed which on the maps is marked as exhausted. What actually happened is that the seam was on a light pitch inconvenient to mine. There was ample thickness of coal and the chambers were driven at a convenient pitch through this 30,-ft. bed, leaving top and bottom, taking out about 10 ft. The pillars were removed and the working caved and marked as gone. That is the type of area that is now being stripped, which explains the reason for the enormous amount of coal left in, and the fact that Mr. Warriner has worked out the actual results from a large number of strippings is of great interest to the operators in any region handling thick coal which has been mined over in the past, generation. The modern mining, of course, is different. We do not have all the coal we want in big veins, and we do not mine it that way. Another interesting feature of the paper to me was the study of losses. It is not uncommon to assume that after you have stripped off the overburden all the coal goes to market. Mr. Warriner has shown that there is a loss ranging up to 10 or 15 per cent. that does not go, so 'that estimates made on stripping, figuring on all the coal, are subject to this very material correction.

Jan 4, 1917

By John B. Dilwoth

This paper treats primarily of the valuation of developed coal properties by the method of capitalizing their estimated average future earnings. However, reference is also made to valuations of undeveloped coal lands and to various methods of appraisal other than by future earnings. Fundamental Valuation Principles Before discussing in detail coal property valuations, a few statements bearing on the general subject will be made to present certain of the writer's views on the question as a whole. 1. A certain property at a given time has but one true value. This is not universally admitted. The appraiser rather frequently finds that a coal owner has in mind three valuations for his holdings; one, the figure at which he feels they should be appraised for taxation purposes; another, the much higher one that should be used if a loan is to be negotiated on the property; and a third, intermediate between the other two, the price for which he would be willing to dispose of his holdings were they for sale. The last is usually nearest to the true value, and because this is so the statement is generally accepted that the fair value of such a property is the price arrived at by negotiation between a willing seller and a willing buyer who are otherwise disinterested. 2. Notwithstanding the foregoing, it is only very generally and approximately true that the proper measure of the value of a given developed' coal acreage is the unit or per-acre price for which one or more bodies of similar coal in the same district have been sold recently. To give a few reasons why such a measure of value can not be strictly applied, it may be noted: a. That sales are often forced by circumstances at times when the coal business is depressed and buyers can be found only for properties that are offered at figures far below their true value. b. That conversely, during periods of unusual prosperity, abnormally high prices are paid. Such conditions obtained several years ago when coal brokers, with very profitable contracts but no sure source of supply, were bidding against inexperienced or shortsighted operators for proper-

Jan 1, 1928

By Carlton D. Hulin

THE usual concurrence in time and space of intrusive igneous activity, favorable structural disturbance and mineralization, which is so manifest in the mineralized district necessarily indicates a close interrelationship between these events. Evaluation of available evidence leads to the recognition that an appreciable time interval exists between the emplacement of the igneous intrusive and the formation of associated ore deposits. During this interval known portions of the intrusive are completely solidified, highly differentiated magma fades are injected as dikes, and important faulting occurs, which may fracture and shatter the solidified intrusive body. The highly differentiated dike types could only have originated in some deep portion of an underlying plutonic body that had reached an advanced stage of magmatic differentiation. Appearing after these dikes, the mineralizing solutions may likewise be presumed to have originated at great depth. Certainly no source for these solutions can be found in near-by portions of the intrusive igneous body. The association of igneous intrusives and clustering ore deposits must be recognized as resulting from structural control. The emplacement and the subsequent solidification and cooling of the intrusive set in operation forces that are responsible for the favorable structural disturbances that control the mineralized district, The emplacement of the body of fluid magma weakens the crustal rocks to the extent that failure due to strains originally present in the rock body may occur. Faulting of any type and of any magnitude may be the result. Subsequently, owing to the change of state from fluid magma to crystalline granitic rock, volume decreases approximating 10 per cent may occur, with resultant shrinkage and collapse within the rock body. Following solidification, thermal contraction, induced by cooling of the rock body, causes a further volume reduction of 6 per cent. This thermal contraction, extending over a lengthy period of time, results in a succession of minor fault movements. These small fault movements, occurring progressively throughout the period of mineralization, are responsible for maintaining the permeability of the rock body, without which access of the mineralizing solutions and the formation of the ore deposits of the mineralized district would be impossible.

Jan 1, 1945