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By Bradley Stoughton, M. Miyake

The importance of magnesium alloys as engineering materials has increased rapidly in the past few years. The most important properties of magnesium alloys are their lightness and strength, which result in their extensive use in aircraft and automobile construction. Recent progress in the metallurgy of magneaium seems to offer hope of the production of the pure metal at a reasonable cost. The use of magnesium would doubtless increase greatly if it could be produced at a cost comparable with that of aluminum. A preliminary survey of the magnesium-base alloys shows that the most promising from a practical standpoint are magnesium-aluminum and magnesium-zinc as binary alloys, and magnesium-zinc-aluminum as ternary alloys. The research reported in this paper is a preliminary study of binary magnesium-aluminum and magnesium-zinc alloys, as an introduction to a series of further investigations. Magnesium-aluminum System The magnesium-aluminum system was first studied by Boudouard,1 who merely determined the liquidus. An accepted constitutional diagram was given by Grube,2 who found a compound A13Mg4 (melting point = 462.7" C.) and two eutectics at 35 per cent. magnesium (451.6° C.) and at 68 per cent. magnesium (440" C.) Between the first eutectic and the compound a solid solution exists. This diagram was checked or supplemented by Pécheux,3 Broniewski,4 Eger,5 Schirmeister,6 Voge17

Jan 1, 1926

1. What Is a Rock Burst? . . . . 569 Jack Spalding . . 569 A. F. Robertson . 569 W. R. Crane . 569 G. S. Rice......569 P. J. Shenon........... 569 L. C. Graton........... 569 2. What Are the Causes of Rock Bursts? 573 Jack Spalding..........573 A. B. Yates and P. J. Shenon 574, 578, 592, 596 A. F. Robertson . . . . . 575, 595 W. R. Crane. ... 579 G. S. Rice.........582 Oscar Weiss .........582 P. B. Bucky..........582 P. H. Bird.....588, 592, 593, 595 M. K. Hubbert.........593 G. Wheeler.......... .593 B. F. Tillson........593, 595 T. T. Read............594 3. How Can Rock Bursts Be Prevented?. 597 Jack Spalding..........597 A. B. Yates and P. J. Shenon ... 598 A. F. Robertson.......599 W. R. Crane....... .602 G. S. Rice............602 Page 4. How Can Rock Bursts Be Predicted?. 602 Jack Spalding.........602 A. F. Robertson.......602, 603 A. B. Yates and P. J. Shenon ... 602 W. R. Crane......602 G. S. Rice......602 B. F. Tillson...........603 5. How Can Rock Bursts Be Controlled? 603 Jack Spalding..........603 A. F. Robertson.......603 W. R. Crane...........604 A. B. Yates and P. J. Shenon 604 Oscar Weiss........605 G. S. Rice......- 604, 609 R.D.Hoffman..609, 610 R. D. Hall..........609 R. H. Cromwell . . 609 P. J. Shenon...........609 P. B. Bucky......609, 611 B. F. Tillson.........609, 611 A. B. Yates...610, 611 P. H. Bird.......610 6. General Discussion........ 611 Jack Spalding.......... 611 R. D. Parker....... . 616 C. Baring Horwood........ 618 P. B. Bucky........... 619 Foreword This symposium brings together points of view, experiences and ideas on rock bursts from a goodly portion of the globe. Some conceptions, particularly those regarding the necessity of depth, have been fairly well shattered, as we find that they are present in the water tunnels of New York, on the surface at marble quarries in Vermont, and in the coal mines of the United States, as well as in the deep mines of the South African and Kolar gold fields, and in the nickel, copper and gold mines of Canada. Their occurrence under such a variety of conditions is, therefore, a challenge, which, if successfully met and overcome,

Jan 1, 1946

By J. F Haseman, J. E. Davenport

In the brown rock phosphate fields of Tennessee there are large deposits of phosphate matrix in which quartz is a major constituent of the gangue, and which cannot be beneficiated by the conventional washing process to yield a concentrate of suitable grade for use in the electric furnace. A huge tonnage of high-grade phosphate concentrate is produced in the Florida pebble district from low-grade siliceous feed. However, the characteristics of the low-grade siliceous Tennessee ore are such that flotation under the conditions employed in treating the Florida ore1,2 results in inadequate beneficiation. Investigation of Flotation Methods Flotation has been used in 'Tennessee primarily to produce a concentrate of premium grade by moderate enrichment of a marketable grade of phosphate. 3,4 A secondary use was to increase the recovery of phosphate from the fines (down to approximately 200 mesh) from medium-grade ores with a concomitant moderate increase in over all grade.3,5 It was considered desirable to investigate methods of improving the grade of washed products from low-grade siliceous Tennessee ore when these products were substantially below the requirements for use in the electric furnace. The present paper describes the results of a laboratory-scale study of factors that affect the beneficiation of such siliceous phosphate ore by flotation. The primary objective of the investigation was to ascertain the conditions under which the ore could be made to yield a concentrate suitable for reduction in the electric furnace. It was assumed that a phosphate concentrate for electrothermal reduction should contain at least 26 pct P2O5 and should have a weight ratio of silica to lime of not more than 0.80. Since a concentrate of moderate grade can be used in the electric furnace, and since, as Grissom4 has shown in detail, the ore will not bear the cost of expensive treatment, the study of collectors was limited to the relatively inexpensive fatty acids. A secondary objective was to determine whether a portion of the phosphate could be recovered in a grade suitable for treatment with phosphoric acid to produce 45 pct superphosphate. The ore consisted of variably cemented sand interlayered with clay. The sand layers were composed of grains of quartz, phosphate, and clay embedded in a matrix of clay and phosphate. Some clay was finely disseminated in the phosphate grains. Little massive high-grade phosphate was present. The material used in the flotation tests was a washed sand that had been separated from the ore in a bowl classifier at the TVA phosphate-washing plant. The percentage composition of the sand was as follows: P2O5, 20; SiO2, 40; CaO, 29; Fe2O3, 2; Al2O3, 3; F, 2.3. The particle-

Jan 1, 1948

By J. F. Haseman, J. E. Davenport

In the brown rock phosphate fields of Tennessee there are large deposits of phosphate matrix in which quartz is a major constituent of the gangue, and which cannot be beneficiated by the conventional washing process to yield a concentrate of suitable grade for use in the electric furnace. A huge tonnage of high-grade phosphate concentrate is produced in the Florida pebble district from low-grade siliceous feed. However, the characteristics of the low-grade siliceous Tennessee ore are such that flotation under the conditions employed in treating the Florida ore1,2 results in inadequate beneficiation. Investigation of Flotation Methods Flotation has been used in 'Tennessee primarily to produce a concentrate of premium grade by moderate enrichment of a marketable grade of phosphate. 3,4 A secondary use was to increase the recovery of phosphate from the fines (down to approximately 200 mesh) from medium-grade ores with a concomitant moderate increase in over all grade.3,5 It was considered desirable to investigate methods of improving the grade of washed products from low-grade siliceous Tennessee ore when these products were substantially below the requirements for use in the electric furnace. The present paper describes the results of a laboratory-scale study of factors that affect the beneficiation of such siliceous phosphate ore by flotation. The primary objective of the investigation was to ascertain the conditions under which the ore could be made to yield a concentrate suitable for reduction in the electric furnace. It was assumed that a phosphate concentrate for electrothermal reduction should contain at least 26 pct P2O5 and should have a weight ratio of silica to lime of not more than 0.80. Since a concentrate of moderate grade can be used in the electric furnace, and since, as Grissom4 has shown in detail, the ore will not bear the cost of expensive treatment, the study of collectors was limited to the relatively inexpensive fatty acids. A secondary objective was to determine whether a portion of the phosphate could be recovered in a grade suitable for treatment with phosphoric acid to produce 45 pct superphosphate. The ore consisted of variably cemented sand interlayered with clay. The sand layers were composed of grains of quartz, phosphate, and clay embedded in a matrix of clay and phosphate. Some clay was finely disseminated in the phosphate grains. Little massive high-grade phosphate was present. The material used in the flotation tests was a washed sand that had been separated from the ore in a bowl classifier at the TVA phosphate-washing plant. The percentage composition of the sand was as follows: P2O5, 20; SiO2, 40; CaO, 29; Fe2O3, 2; Al2O3, 3; F, 2.3. The particle-

Jan 1, 1948

By Arthur L. Crawford

PLAGER gold is perhaps the most difficult of the common mineral deposits to evaluate. Not only are the erratic pay streaks a source of never-ending uncertainty, but the spotty distribution of the gold in iso¬lated nuggets is a perpetual source of error and disappointment to the sampler. Experienced engineers have long realized this difficulty and have been wary in predicting assay values except in the most general terms, and then only after extensive and usually expensive sampling. During the past year I have had the opportunity of checking a number of gold placers, and from the results obtained I believe that the microscope may be employed to advantage in placer sampling.

Jan 1, 1933

THE opening session was held on Tuesday evening, February 17th, in the house of the American Society of Civil Engineers. The President of the Institute, Mr. E. B. Coxe, after a few introductory remarks, congratulating the members on the general prosperity in all the branches of the professions and manufactures represented by the Institute, called on Mr. E. F. Loiseau, of Philadelphia, for the first paper, On the Successful Manufacture of Compressed Fuel at Port Richmond, Philadelphia. Professor Prime called attention to the fact that the work of the United States Testing Board had been left unfinished at a point when valuable results had just been reached, and offered the following resolutions: WHEREAS, The American Institute of Mining Engineers has seen with regret that the work of the United States Testing Board has been suspended through the lack of an appropriation by Congress, which appropriation dues not seem likely to be renewed, and WHEREAS, It seems most important to the vital interests of our iron and steel manufactures that the experiments commenced by the United States Testing Board should be carried to successful completion ; Resolved, That a committee of three be appointed, to act with a like, committee to he appointed by the American Society of Civil Engineers, to carry out to completion the work commenced by the United States Testing Board. Resolved, That the American Society of Civil Engineers be requested to cooperate with this society by the appointment of a like committee. Resolved, That the committee have authority to request, in the name of the American Institute of Mining Engineers, contributions to a fund to be devoted to the completion of the experiments aforesaid. Resolved, That the Council of this Institute be authorized, whenever requested by the committee so appointed, to petition Congress for the free use of the testing machine at the United States Arsenal at Watertown. Resolved, That a committee be appointed by the President, to select the afore-said committee of experts. Resolved, That the President of the Institute have authority to fill any vacancies which may occur in the committee. The resolutions were unanimously adopted, and President Coxe appointed the following committee in accordance with the resolutions : Messrs. A. L. Holley, James Park, Jr., and J. F. Holloway. The President also appointed Messrs. Heinrich, Mickley, and Spils-

Jan 1, 1880

By L. D. Anderson

IN STUDYING Utah as a lead producing state one is immediately confronted by the fact that few, if any, of the ores of the state are valued for their lead contents alone. More correctly the ores from which this metal is recovered are characterized as silver lead. Even then the whole story is not told for many of these ores carry also gold, copper, zinc, bismuth, antimony, arsenic, tellurium, and other metals. It becomes apparent, therefore, that the production of lead i11 Utah is influenced by many factors. For example, i11 the early part of 1923 there was a marked increase in the production of the lead by reason of the efforts made by silver mines to produce as much silver as possible before the termination of purchases under the Pittinan Act in June, 1923. As nearly all silver ores carried more or less lead the production of that metal was increased with the increase in silver production. Very few, if any, ores of the State are mined for their lead contents alone. Important as Utah's contribution to the lead output of the country is nevertheless it is bound up to some extent with the production of gold, silver and copper.

Jan 1, 1925

By J. A. Fellows, Earnshaw Cook, Howard S. Avery

HEAT-RESISTANT alloys of the higher nickel and chromium ranges have been empirically developed through the practical experience of the past two decades to a position of significant industrial importance. Few quantitative metallurgical data have been published, however, that could be related directly to engineering specifications and design. Inadequate information led to the inauguration, in 1934, of a research directed toward a better understanding of the properties and performance of these steels at temperatures between 1400° and 2000°F. Investigation was concentrated upon the 26 per cent Cr:12 per cent Ni type, which owes its extensive application to an excellent combination of economy, strength and surface stability at elevated temperatures. The requirements of the oil-refining industry have been prominent in influencing the scope and evolution of the program. Creep strength at the maximum allowable deformation ranges has been employed to evaluate the merits of these alloys. Permissible elongation rates vary from 1.0 per cent in one million hours for turbine blades to 1.o per cent in ten thousand hours for tube supports and heating-furnace equipment. Throughout this paper, the limiting creep stress (L.C.S.) for a given temperature has been defined as the stress that will produce a uniform elongation rate (stage II) of one per cent in ten thousand hours as extrapolated from rates per hour or tests of less than two thousand hours duration. Certain current specifications require a minimum L.C.S. of 1600 lb. per sq. in. at 1800°F., of 3600 lb. per sq. in. at 1400°F., and include a tensile acceptance test at room temperature, after aging for 24 hr. at 1400°F., as a measure of embrittlement in service. An elongation of 4 per cent is considered satisfactory for general use, while a minimum of 9 per cent is prescribed on occasion. Many differences of opinion concerning the properties and performance of these alloys appear to result from their sensitivity to unappreciated variations of chemical analyses which, for example, may change their L.C.S. from 3500 to 350 lb. per sq. in. at 1800°F. Within broad chemical limits, it is possible to balance the six or more important elements present to attain desirable properties with a number of different combinations. One method for adjusting the composition has been described under the sponsorship of the Alloy Casting Institute,1 in which, by maintaining a substantially austenitic* alloy, optimum creep strength and minimum tendency to embrittle after aging are expected. Unless, however, the limits are undesirably dose, it has not been possible to ensure a moderate range of strength and of ductility by any chemical specification alone. There is a definite need

Jan 1, 1942

By B. W. Vallat

(San Francisco Meeting, October, 1911.) THE Newport mine, located at Ironwood, Gogebic county, Mich., on the Gogebic iron-range, is owned and operated by the Newport Mining Co., for the mining of iron-ore. I. GEOLOGY. The general geology of the Gogebic range has been determined and recorded at different times by well-known geologists,) and their work will be referred to briefly in connection with the local conditions in the mine. The strike of the formation across this property is about 15° north of east. The, general dip is 68° to the north. At the base of the formation on the south lies the granite. Looking north, at right angles to the strike of the formation, we have the foot-wall of quartz-slates and quartzite about 400 ft. wide; the iron-formation about 800 ft. wide, and the hanging-wall of black slates. The iron-formation is composed of banded jasper and quartzite together with iron oxide and concentrations of iron-ore. In character the ore is a soft red hematite, with occasional masses of hard blue "steel ore." The formation is crossed in many places by diorite dikes, which cut through at various angles, the larger or main dikes dipping into the foot-wall in a SE. direction at angles varying from 15° to 30°, while numerous small dikes occur which strike through the formation in a vertical plane and at approximately right angles to the main dikes. There are various theories concerning these dikes, especially as to the time of their origin with relation to the ore-deposition. The commonly-accepted theory is that the dikes were there first, but there are some who contend that they were formed

Nov 1, 1911

By F. W. Glaser

Iron-silicon alloys have had a great influence, in many ways, in modern industry. Silicon steels have been used almost exclusively for the construction of electrical machinery, but have also become an important material for structures which benefit by the high tensile and yield strengths of this material. In elaborating on the early history of work done on iron-silicon alloys, Greiner, Marsh and Stoughton1 went back as far as 1808, and pointed to Berzelius as the first producer of ferrosilicon. During the last twenty years some very important contributions in the form of studies of the iron-silicon system, as well as of the physical properties of these alloys, have been published. In consideration of the brit-tleness and poor machinability of alloys containing more than 5-6 pct Si, commercial interests have stimulated the research done on iron-silicon alloys, but mainly in the range of 0 to 6 pct Si. Yensen2 has shown the influence of im- purities, such as carbon, sulphur and phosphorus on the magnetic properties of 2, 4, and 6 pct Si alloys. Corson3 extended his investigation of physical properties to approximately 32 pct Si, and attributed the brittleness of the high-silicon material to the particular constitutional features of the alloys. Though mentioned earlier in the literature, the effect of nitrogen on crystal growth and magnetic permeability of iron-silicon alloys has been demonstrated recently by Morrill4 and Rostoker,5 respectively. In all the above quoted investigations, except that of Rostoker,5 sand or chill casting processes were employed for the preparation of samples. A major advantage of the powder metallurgy process is that it does away with time-consuming machining in many applications. The powder metal industry is always interested in pro- ducing a finished product employing a material which has presented considerably greater difficulties in manufacture by other methods. Steinit26 described preparation and testing of various Fe-Si alloys which were produced by the powder metallurgy process for the manufacture of armatures for small electric motors or generators. While Steinitz investigated alloys up to 6 pct Si, Rostoker5 went as high as 9 pct Si. The author7 previously discussed the diffusion of iron-silicon compacts containing 6 and 10 pct silicon. It is the object of this paper to study the progress of diffusion occurring in iron-silicon alloys by electrical resistivity measurements. All samples were prepared by pressing and sintering of compacts. Iron, silicon, and Fe-Si powders of various mesh size and compositions were employed to obtain test samples. It was assumed that complete diffusion had been obtained when the electrical resistivity reached a constant value characteristic for that particular alloy. To this end, electrical resistance measurements were used to follow the progress of alloying under various conditions.

Jan 1, 1950

By AIME AIME

WHETHER by the Mohawk Trail, Sound steamer, air plane, railroad or any other route or mode of locomotion, all roads will lead to Boston the week of National Metal Congress, Sept. 21-25. The Institute of Metals and Iron and Steel divisions of the Institute are then to meet jointly at the Hotel Statler, and the American Society for Steel Treating, the American Welding Society, the Society of Automotive Engineers and the Iron and Steel Division of the American Society of Mechanical Engineers present carefully planned programs at their respective sessions. The National Metal Exposition will be held on Commonwealth Pier.

Jan 1, 1931

By AIME AIME

THANKS to the excellent preliminary work of: the Division officers and the local committee the fall meeting of the Coal Division at Bluefields was a brilliant success. West Virginia was at its best with its beautiful mountains, good roads and foliage, just beginning to turn to autumn colors. The meeting began on time and was kept on time throughout. The papers were-well prepared and, being on subjects of live interest, provoked 'lively discussion. One factor in bringing this about was that they were not too numerous and that with one exception copies had been submitted in advance a sufficient time to permit of them having been studied. The Friday morning session was presided over by John .J. Lincoln of the Crozier Coal and Coke Co. and president of the Pocahontas Coal Operators Association. After brief announcements by Thomas H. Clagett, chairman of the local committee, regarding plans for the two day's involved, and by Howard N. Eavenson, chairman of the Division, the reading of papers was taken up.

Jan 1, 1931

By Willis T. Burns

I. Introduction.......................................... 703 II. History................................................ 703 III. General Description of Plant......................... 704 IV. AnoDes................................................. 711 V. Cathodes............................................... 714 VI. Electrolyte............................................ 718 VII. Electrolytic Slime..................................... 727 VIII. Power................................................. 728 IX. Operating Details..................................... 732 X. Furnace Refining...................................... 736 XI. Physical Testing oF Products.......................... 739 I. Introduction. These notes are submitted, not as a discussion of the modern practice of electrolytic-copper refining, but as the record of a refinery that was among the pioneers in the field and that is to-day, and has been for 17 years, operating under conditions not to be found in any similar plant in the country. I refer to the current density, which is at least 60 per cent. higher than that regularly employed elsewhere, and to the fact that the anodes treated are the direct product of the converter rather than of the reverberatory furnace. The writer has no knowledge of any other refinery treating anodes of this character. II. History. This refinery, now one of the oldest plants of its kind operating in this country, was built in 1892 by the Boston & Montana Consolidated Copper & Silver Mining CO. to refine the product of its Great Falls reduction works. The estimated capacity of the plant as designed was 65,000 lb. of cathodes per day at a current density of 16 amperes per square foot.

Jan 1, 1914

By Ovid W. Eshbach

ENGINEERING education has been powerfully affected by the impact of war, just how powerfully can be better understood after considering the postwar problems regarding students, staff, and plant. In time of war no one will question the necessity of expediency of military training. With the cessation of hostilities, expediency gives way to the evolutionary process of strengthening engineering education as need is exemplified by experience. During the war, except for the Navy V-12 program, engineering education was at its lowest ebb of the century. Freshman enrollments were largely limited to those graduating from high school at the age of seventeen; and the upperclass, to those disqualified for active service. In most schools the experienced staff was either in service or government and industrial research. Many may never return to their former occupations. The most immediate problem is that of maintaining and building a staff to meet the enrollment of returning veterans. It is estimated that out of the eleven

Jan 1, 1945

By AIME AIME

THE week, of April 5 will long be remembered by those that attended the Birmingham meetings of the Open-Hearth and Blast Furnace committees of the A.I.M.E. Iron and Steel Division. Birmingham iron and steel own received the 450 delegates with open arms; described and discussed their southern metallurgical practices and problems and compared experiences with their northern brother metallurgists in two days of technical sessions on Wednes-

Jan 1, 1937

By AIME AIME

AT a joint meeting of the Tulsa Geological Society and the Mid-Continent Section of the A; I. M. E., held at Tulsa on March 21, the history of unit development in the Kettle- man Hills field was discussed. Robert C. Patterson? Super- visor for the U. S. Geological Survey at Taft, Calif., was the speaker. An abstract of some of his remarks follows: On July 1, 1923, curtailment agreement for two years was made between the operators of North Dome Kettleman and the U. S. Department of the Interior. In this it was agreed to consider a plan of unit development, or other cooperate method of developing the structure. As a result, Kettleman North Dome Association was incorporated in December, 1930, as a non-profit cooperative corporation under the laws of California. Approved in January, 1931, by California Oil and Gas Supervisor and by Secretary of Interior. On Feb. 10, 1931, it became an active organization through election of executive officers and eleven- directors. General manager chosen. Association started to function April 1, 1931. Assumed control of 10,800 acres of proved and semi-proved land, as shown in Table 1.

Jan 1, 1932

By William Romanoff

IN AN ARTICLE on "Recovering Smelter Dust and Oxide," published in the Engineering and Mining Journal (Vol. 131, No. 2), the authors briefly described some dust-recovery equipment and its operation at a secondary-metals brass-smelting and refining plant. A description of our experience in overcoming certain operating difficulties may prove of interest or value to those who are confronted with some of the same problems or who should equip their furnaces with dust-collecting equipment. The dust loss from reverberatory smelting and refining of brass con¬sists largely of zinc, with smaller percentages of lead, tin, and copper in the order named. At the Kramer plant, the fume discharge from the two stacks amounted to 3 to 4 tons of solids per day, making a dense smoke. With dust equipment in operation, the discharge from the stacks is invisible and approximately 2500 lb. of zinc and other metals is recovered daily thereby from each furnace operating.

Jan 1, 1933

By Y. A. Topkaya

The placer gold occurrences at Sart Çayl, Manisa, Turkey, the legendary River Pactolus of King Croessus, were evaluated in this study to determine if this deposit contains sufficient recoverable value to justify development and exploitation. The gold occurs both in the upper Neogene conglomerates and the alluvium derived from these conglomerates. The total reserve in the whole region is estimated to be 500 million cubic metres. Samples were taken of the upper conglomerate and in the alluvium in an attempt to determine the amount and the physical nature of the gold. The gold in samples was recovered by screening out barren oversize followed by washing the sand and gravel through riffled sluices. The resulting sluice concentrate was later panned and amalgamated at site. Laboratory cyanidation testing of some samples for control purposes was also done. The average calculated free gold was found to be about 90-100mg/m3 and the size of gold flakes found was quite small. The field as well as laboratory testing of the samples of Sart Çay1 indicated that the potential reserves in this region could only be developed as a sand and gravel operation and the gold could be recovered together with the heavy minerals as a byproduct.

Jan 1, 1984

INTRODUCTION The International Finance Corporation (IFC) is affiliated with the International Bank for Reconstruction and Development (World Bank) but operates with a separate staff and funding. It supplements the activities of the Bank by providing, to private business, equity and loans without government guarantees in whatever form and combination most suited to the project. IFC frequently complements the Bank's activities by utilizing, for example, the Bank's public sector infrastructure activities to support IFC's private sector projects. In the case of local financial institutions especially, IFC collaborates with the Bank by providing technical and financial assistance. IFC is the world's largest multilateral organization which finances private sector business in developing countries. IFC's fundamental purpose is to promote the economic development of its developing member countries through the support of the private sector. Of the 124 member countries of IFC, more than 100 are developing countries. Since it began operations in 1956, IFC has been associated with more than 2,000 companies and financial institutions in supporting over 700 business ventures in more than 80 countries. The total capital costs of these projects exceeds $26,000 million. In the 1984 fiscal year, IFC approved 62 projects in 37 countries with a total project cost of $2,473 million. IFC will make investments only if sufficient capital cannot be obtained on reasonable terms from other sources. IFC often serves as the catalyst for a project by encouraging other investors--from inside and outside the host country--to make their own equity investments along with the local sponsor for a particular project. IFC'S SPECIAL ROLE The significance of IFC's role extends beyond just its financing and technical assistance: IFC's capability to raise investor confidence in a project and to help all the participants to arrive at mutually satisfactory investment arrangements is its distinctive character. Direct Investments IFC invests in all types of projects both large and small. Heavy industrial ventures not only supply essential materials and equipment for other domestic enterprises, but also earn foreign exchange through exports. In recent years, increased emphasis has been placed on agriculture and agribusiness products, aquaculture, food and food processing, and other renewable and nonrenewable resources such as metals and energy. [ ] An overall objective of IFC is to assist entrepreneurs and others in the private sector raise the needed capital for business ventures. IFC does not compete with, nor seek to replace private initiative and capital. Rather, IFC helps to raise funds in order to undertake projects that would otherwise be held back by the lack of adequate funding. IFC can do this in several ways: IFC can invest in equity and make loans for its own account. But beyond that, IFC can reach out into the international capital markets in search of additional capital. Because of IFC's 25 years experience and record, outside investors who might otherwise be

Jan 1, 1985

By WILLIAM COUPER

THE completion of the excavation of the tunnels through Bergen Hill for the extension of the Pennsylvania Railroad into New York City, together with the fact that the excavation for the rest of the tunnel-line has been practically completed for some time past, arouses sufficient interest to justify a description of the engineering- and contracting-work, and the organization by which it has been accomplished. The finishing of the excavation is a long step towards the completion of the entire tunnel-project. It will be interesting to the members of the Institute, who last spring were taken through a great part of this work, to know that by the excavation now completed it is possible to walk by tunnel from a, point near Sunnyside yard, Long Island, east of the 34th Street ferry, to the central passenger station site in the City of New York, and thence by tunnel to the Hackensack meadows, and by an embankment constructed across these meadows to Newark, N. J. This New York tunnel extension is being constructed as a part of the Pennsylvania Railroad system by the Pennsylvania Tunnel & Terminal R. R. Co., a corporation of the States of New Jersey and New York. It extends from a point near Newark, N. J., to the Sunnyside yard, Long Island, as indicated on the accompanying plan.

Jan 7, 1908