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By Benjamin Smith Lyman

PAGE I. ANCIENT HISTORY,........... 57 Accepted Fables ; Babylonian Mapping ; First Surveying. II. COMPASS,.............59 Chinese Invention; Marco Polo; First European Compasses ; Early Knowledge of Variation ; Plotting with the Compass ; Hanging-Com pass ; Supposed Gravitational Error ; Merit of the Compass. 111. Telescope,............63 Origin (Roger Bacon, Porta, Digges, Lippershey, Galileo) ; Improvements (Micrometer and Cross-Hairs, Rittenhouse's First Telescope, Platinum Cross-Wires, Telescopic Sights, Reflecting Telescope, Achromatic Lens, Kellner Lens in Erecting Telescope, Inverting Telescope). IV. Theodolite,.............81 Origin ; Derivation of the Name. V. TranBit,.............86 First Surveying Transit; Edmund Draper. VI. Instrument-Parts,..........89 Ramsdenl a Dividing Engine ; Fineness of Graduation ; Conical Gradua tions ; Full Vertical Circle ; Leveling-Screws ; Shifting Tripod-Heads ; Hoffman-Harden Tripod-Head ; Heller & Brightly's Improvements. VII. OTHER INSTRUMENTS AND APPLIANCES,......100 Sunflower; Plummet-Lamp; Chains and Tapes. VIII. SCOTT'S TACHYMETER,.........104 IX. Nomenclature and Classification,.......105 Names; Grouping. Surveyors are much indebted to Mr. Scott for so vigorously attacking the subject of the origin and history of mine-surveging instruments, the compass, the telescope, the transit and other apparatus. He is not afraid of the dark, nor yet foolishly bashful in broad daylight. He does not recoil from the obscurities of the earliest times and the most difficult historical points; and, with commendable public spirit, he makes his own invention known to his fellow-workers, and challenges their criticism. He has, moreover, elicited the praiseworthy emula-

Jan 1, 1902

By HILAND BATCHELLER

COMMENT on the economic significance of the special alloy steels seems inevitably to reduce itself to an attempt to peer into the future of the industry in which we are interested. We are all familiar with the historical development of iron and with the almost complete replacement of iron by steel. Those who have been connected with the industry since its .early days have had the satisfaction of witnessing the greatest industrial development the world has seen. As the cartoonists of the muck-raking decade liked to picture steel as an ogre armed with a spiked club, his hands reeking with blood and with golden coins dripping from his pocket, fiercely seeking for more widows and orphans to devour, I choose to call on my imagination to create a gigantic but beneficent robot of such marvellous mechanical skill. that it quickly transforms millions of tons of otherwise worthless material into the infinite variety of useful products which are so largely responsible for our present civilization.

Jan 1, 1931

By LUDWIG VOGELSTEIN

WE are indebted to Mr. Barbour for his valuable contribution to the literature on copper statistics; it is to my knowledge the only intelligent attempt to throw light on a much misunderstood subject. If I should appear to criticize some of his findings and arguments, I do not want to leave the impression that I do not appreciate the article; I think Mr. Barbour has been painstaking, and even where one might not agree with his conclusions, he has opened our eyes and stimulated us in our search for the truth.' It might be well to define the term "secondary copper" and to make a few remarks about the origin and the reasons for the variation of the supply. Mr. Barbour has touched on these points, but not sufficiently to make them clear to those not in the business.

Jan 1, 1931

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists It Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Howard-Canfleld Bldg. Santa Barbara, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I-lath St. S. W. B'ham, Ala., Phone 56-5566 MILTON H. FIES Consulting Engineer Rooms 1201-2. Albama Power Co. Bldg. Birmingham, Alabama]

Jan 1, 1952

By HOWARD RICHARDS

THE dollar was, selected as the unit of currency by the Congress of the United States of America on Apr. 2, 1792. This "Dollar" currency is so much more convenient than the older British currency that the Canadian Government, among others, has adopted it with corresponding success. Just as the dollar is the unit of United States currency, so the meter is the international unit for measuring length. The various weights and measures used in - the United States have since Apr. 5,. 1893, been based on the metric standards. These fundamental standards are kept by the International Bureau of Weights and Measures, which is supported by the United States, Great Britain and the, other leading countries. of the world. Copies are held-in Washington and other capitals. (2) As the dollar is divided into 100 cents, so the meter, which is 10 per cent. longer than the yard, is divided into 100 centimeters or cm. And as the cent is divided into 10 mills, so the centimeter is divided into 10 millimeters or mm. In measuring clothing and other articles which do not require great accuracy, the centimeter is most con¬venient, so that such work is done in terms of centi¬meters.. Instead of speaking of a 15;2-in. collar, a 40-centimeter or 40-cm. collar is referred to. Where accuracy is needed, as in mechanical drawing, machineshop work, etc., millimeters are employed. Thus 8 mm., is the convenient equivalent for 5/16 inch.

Jan 1, 1921

By E. F. Koppe

The Upper Freeport coal in the Freeport and New Kensington quadrangles, Pennsylvania, varies from a bony streak to a thick coal deposit often exceeding ninety inches, the "Double" or "Thick Freeport". Distinctive basal partings, a central bone layer, and a canneloid top bench may be present. The appearance of a sandstone roof, sandstone rolls, and bony coal at the top of the main coal bench can be anticipated in thin Freeport areas when basal partings are absent. When the two basal partings are present, a shale roof is normal. These effects are correlated with the original topography upon which the coal was deposited. The original depositional high areas tend to coincide with present structural highs. Preliminary data indicate that coal quality, in part, is affected by the deposi-tional setting. In "high" areas, a tendency exists for the main coal bench to contain higher percentages of fusain and mineral matter. Within limits, some-what higher ash fusion temperatures appear to correlate with paleotopographic highs. As a result of these findings, critical examination of the paleotopography and related sediments is indicated in other areas and other coals. The Upper Freeport coal is quite variable both in thickness and composition in the Freeport and New Kensington quadrangles of Pennsylvania (Figure 1). The coal horizon in these quadrangles is marked either by a thin carbonaceous shale bed or by a single bed containing a variable number of partings (binders). The complex coal zone known locally as the "Double" or "Thick Freeport" contains the Upper Freeport Coal Bed at the base; but in addition, it has an overlying bone layer and an upper coal bed occasionally capped with a canneloid layer. The "Thick Freeport" often exceeds 90 inches in thickness, whereas the normal Upper Freeport coal usually varies between 34 and 50 inches.

Jan 1, 1961

By W. W. Krech, T. E. Perkins

As fractures are propagated through rocks, energy is absorbed near the extending crack tip. Apparent surface energies for several rocks have been measured by cleavage under dynamic con-ditions. At nominal crack velocities from 0.5 to 500 in (min, measurements showed that fractures propagated in discrete jumps. Calculated surface energies and moduli were relatively insensitive to nominal rate of cleavage. in another set of experiments, rocks were cleaved under high confining stresses. The rocks were submerged in low leak-off fluids which formed a filter cake on the freshly cleaved surfaces (similar to the hydraulic lracturing process). Apparent surface energies were increased substantially as the surrounding fluid pressure was increased. Moduli in bending increased significantly upon application of the first 1,000 psi but were insensitive to stress level at greater pressures. INTRODUCTION For almost 20 years, hydraulic fracturing processes have been utilized effectively to stimulate oil and gas wells. During this period, some process improvements have resulted from studies of fracture orientation, mechanics of fracturing, areas generated, conductivities of cracks, etc. Yet many questions remain concerning the conditions and pressures needed during fracture propagation. In this paper we will report additional studies of the mechanics of fracture extension. It was shown previously3 that large rock samples could be cleaved under controlled conditions so as to measure the apparent surface energy (that amount of energy absorbed per unit area of new surface created). In this paper we consider the effects of two additional factors on surface energies, viz.: (1) effect of cleavage rate and (2) effect of confining stress level. THEORY Cleavage experiments were conducted on rock samples similar to that illustrated in Fig. 1. Blocks of rock several inches wide, 2- to 3-in. thick, and up to 3 ft in length were grooved longitudinally with shallow guide slots. A crack was initiated and allowed to extend along the web as the top of the rock specimen was pulled (or pushed) apart. Auxiliary equipment permits the measurement of (1) force applied at the top, (2) separation at the top and (3) crack length. (Further experimental details will be given in the next section.) The rock beams created by the crack are considered ton be cantilever beams. The deflection (or separation of the rock beams) at any point is calculated 4,5 by the beam Eq. 1.

Jan 1, 1967

By R. C. FLEMING

MINING rock asphalt for use as a paving material is an industry which has grown with the spread of the good roads movement. "Mineral Industry During 1930" reports asphaltic pavements constructed, including maintenance and repair but excluding pavement constructed with road-oil, cut-back or emulsified asphalt, as grown from 23 million square yards in 1911 to a high of 144 million in 1927. In 1930 the same source reports 106 million square yards of such paving laid and, in that year, 664,871 tons of native rock asphalt were so utilized. Many states contain rock asphalt deposits of greater or less importance but in only a few places are the de¬posits being mined commercially. In the year cited Ken¬tucky produced 305,024 tons of bituminous sandstone, Texas 270,138 tons, mostly bituminous limestone, while Alabama, Oklahoma, California and Utah produced 89,709 tons of bituminous rock for road construction. In addition Utah produced 37,906 tons of the purer asphaltic products, gilsonite, wurtzilite and ozokerite, for other uses. Speaking generally, the rock asphalt is a sandstone or limestone naturally impregnated with asphalt to an extent that makes it an ideal road surfacing material without mixing or treatment other than crushing. The asphalt content of the commercial product runs 8 to 12 per cent.

Jan 1, 1933

By W. F. Boericke

WORLD production of silver in 1929 totaled 256 million ounces. In 1928 production was 258 million ounces, and in 1927, 254 million ounces. With an actual decrease in the amount of silver produced last year, as compared with 1928, and an increase over 1927 of less than one per cent, obviously there has been no overproduction of the metal in the popular sense. But the price of silver tells a different story. For 1927, the average quotation was 56.37 cents; it was 58.17 in 1928, and 53.0 in 1929. During the last year it reached a high point of 57 cents in January, and fell steadily, without interruption to the downward trend, to a low of 47 cents in December. Since then it has dropped to an all time low of 43 cents on February 6.

Jan 1, 1930

R. W. Raymond, New York, N. Y,:—Since the presentation of my note on this subject at the New York Meeting, Professor Louis has pointed out an error in my statement of his conception of " pitch "—namely, he understands the pitch, in the restricted sense which he proposes, to be the angle of inclination of the axis of an ore-body, measured on the vertical plane drawn through the body; whereas, I represented him as proposing to define " pitch " as the angle of inclination of an oblique body, measured on the plane of the dip, in the direction of the strike. The difference will appear upon consideration of the accompanying isometric projection, Fig. 1, in which ABCD represents the plane of the inclosing ore-deposit (vein or bed), and AC the axis of the oblique ore-shoot. ABE is the angle of the dip, as universally understood; and ACE

Jan 1, 1909

O. S. GARRETSON, Buffalo, N. Y.: If I may judge from the half-tone illustration engraved from a photograph of this medal and accompanying Dr. Prazer's paper, I do not think the cast ing is exceptionally fine. I have often made castings of simi lar character which I think were equally good. For instance, I have taken a coin, moulded it directly in fine sand, and cast from it in Scotch (or the equally good, if not better, Ameri can Scotch ") foundry-iron a copy quite as sharp and smooth as the original. The secret is in using very fine sifted sand. In fact, I have used for this purpose the dust which had accumulated on the beams overhead in my foundry, riddling it with a very fine sieve before using it. ['NOTE BY THE SECRETARY.—After the session at which these remarks were made by him, Mr. Garretson cast at his Buffalo foundry, in the presence of a number of members of the Institute, copies of the bronze pin furnished to visiting members by the Local Committee of the Buffalo meeting. The accom panying illustration, Fig. I, has been reproduced from a photograph of such a casting, made in green sand, under the conditions of ordinary foundry-practice, and not subsequently polished in any .way. I can also certify that the photo graphic negative was not touched, to improve its clearness of definition, before the production of the " half-tone" plate from which Fig. 1 has been printed. As, in the case of the Kytchtym medal, it was the thin, ribbon-like sprue, rather than the low-relief features of the medal itself, which indicated the fluidity of the metal and the sharpness of the casting, so in this work of Mr. Garretson it is the long and slender pin which offers the strongest evidence of these qualities. It is scarcely neccssary to point out that the filling in the mould of a long and nar row opening, such as this pin presents, is the severest test that could be imposed upon the casting, and that the sharpness of the point of the pin in the casting is striking evidence of the success with which this test has been met. The Pittsburgh Testing Laboratory .has made for the American Manufacturer measurements of this casting and an analysis of the sprue. The thickness of the main casting is from 0.049 to 0.068 inch. That of the tag bearing the stamped number is 0.024 inch. The analysis, which represents the iron ordinarily employed by Mr. Garretson for thin castings, is as follows :

Jan 1, 1899

By B. W. Roberts, V. A. Phillips

A copper alloy containing- 25.5 at, pct Zn and 19.0 at. pct Ni, which was previously found to show an anoma1old.s hardening effect on quenching- from 600 "C and aging- at 400oc, has now been examined by neutron diffraction. No evidence of long-range order was found. The aged sample showed diffuse scattering- consistent with clustering. The anomalous hardening effect is now attributed to lattice strains caused by clustering rather than (long-range) order hardening. SOLID-solution Cu-Ni-Zn alloys (the commercial 'nickel silvers") have been reported to show anomalies in: change of resistivity on cold working,1-6 temperature coefficient of resistance,2-12 resistivity at low temperatures,13,14 parameter (vs temperature),2"4 calorimetric data,2,4 specific heat,15,16 dilation,2-4 and elastic modulus.17 The structure responsible for the anomalies is produced by annealing typically near 400°C and is rather loosely referred to as the ('K-Zustands" (K state), a term coined by Thomas1' who apparently meant simply that the arrangement of atoms on the sites deviated from that expected statistically. Thomas proposed that the K state occurred in a variety of (solid-solution) alloys such as Cu-Ni-Zn, Ni-Cr, Ni-A1, Ni-Cu, Fe-A1, and Fe-Si and is recognized because its formation is strongly temperature-dependent and results in an increase in electrical resistance which can then be decreased by cold working. Later workers on ('nickel silver" have interpreted the K state variously as short-range order, long-range order. or a combination. The present work was prompted by the discovery by Phillips and Jones19 of a substantial hardening effect when an 18 pct "nickel silver" alloy which is fairly close to the Cu2NiZn composition, was reheated in the range 150" to 450 C after previously quenching from 600°C or, alternatively. was slow-cooled from 600°C or above. The phenomenon was attributed to (long-range) order hardening. Due to the similarity in the atomic scattering factors of copper. nickel, and zinc atoms, the ''nickel silvers" are unfavorable for X-ray diffraction studies aimed at detecting ordering. Nevertheless Bialas et a1.,20 using a powder sample containing 47.96 wt pct Cu, 24.03 wt pct Ni, and 27.98 wt pct Zn, slow-cooled from 400" to 200°C taking 500 hr, observed weak super lattice lines. Further unpublished work" using an anomalous dispersion X-ray technique indicates that zinc atoms are regularly ordered at the corner points of the lattice cell, while the nickel and copper atoms are statistically distributed on the remaining sites. Köster 17 also observed X-ray superlattice lines, for example, in an alloy containing 43.5 wt pct Cu, 28.6 wt pct Ni, and 27.9 wt pct Zn superimposed on the basic fcc cell with a = 3.62 kX. He proposed a Cu3Au-type superlattice with the Ll2 structure in which the A sites were statistically occupied by copper and nickel atoms and the B sites by zinc. He adds that substitution must be possible so that zinc atoms partly occupy A sites. Below about 35 pct Cu, Koster had some evidence for a CuAu-type superlattice with the Llo tetragonal fcc structure with a = 3.82 kX, c/a = 0.88 which could be preserved by quenching. This is suggested17722 to correspond to CuNiZn. While the present work was in progress Hirabaya-shi et a1.23 made an independent comprehensive neutron-diffraction study of a single crystal containing 50.05 at. pct Cu, 26.57 at. pct Ni, 0.25 at. pct Mn, 0.13 at. pct Fe, balance zinc. The presence of manganese and iron is surprising since the crystal was supposedly grown from high-purity metals. The homogenized crystal showed evidence of long-range ordering after an anneal of 5 months at about 300°C. Three possible crystal models were proposed. A curious feature of their results23 is that they could not find any neutron-diffraction evidence of ordering in a powdered polycrystalline near-stoichiometric Cu2NiZn alloy. There appears to be some essential difference between a near-stoichiometric Cu2NiZn alloy and one somewhat further off stoichiometry as used by the present authors. Thus Sato14 was able to reproduce the low-temperature resistivity anomaly reported by one of the authors13 on the present alloy if he used a similar composition, but found the normal behavior of the residual resistivity in a near-stoichiometric alloy. satol2 found that the resistivity of a cold-drawn slightly off-stoichiometric alloy increased to a maximum on isothermally annealing at 300°C and then decreased ("over-aged"). Since he could not explain this on the basis of ordering phenomenon, he proposed that zinc atoms were segregating to stacking faults (Suzuki effect) and found etching bands on the surface by replication which were attributed to the widening of faults. Sato suggested14 that the hardening effect observed by Phillips and Jones19 is partly due to the Suzuki effect. EXPERIMENTAL The starting material was 1/4-in.-diam hard-drawn rod of a commercial 18 pct "nickel silver" alloy identical with that used in a previous study by Phillips

Jan 1, 1967

By H Haas

H. HAAS, San Francisco, Cal. (communication to the Secretary?). -Fig. 1 plainly shows that the comparison of the steam-turbine and Diesel-engine plants was made on a basis of 6,000 kw. continuous operating load. The tabulation of costs for an 8,000-kw. load is merely done to show the relation of increased output on' the unit power costs. Both plants would sacrifice their reserve capacity, which is to insure continuous operation, if operated to generate 8,000 kw. continuously; unless Mr. Hawkins advocates the operation of one of the turbines at 33.33 per cent. overload, retaining the other as a standby, which, besides overtaxing the turbine, results in a great loss of efficiency. It would he well for Mr. Hawkins to qualify certain of his statements. Thus, under the caption "Diesel Engines, Selection of Units," he says that "two of the largest Diesel-engine builders take the position that, in the present state of the art, they would not attempt to put out units over 1,000 kw.;" he should qualify it by saving that "two of the largest American Diesel-engine builders take the position that, in the present state of the art in the United States, they would not attempt to put out units over 1,000 kw." The reason that American manufacturers restrict themselves at present to units of that size is to be found not so much in a lack of experience in building large units as in a lack of a sufficient, demand for them in the United States to justify the heavy capital outlay connected with the development of such engines. There are relatively few localities in the United States where fuel prices are as high as they are in the Southwest, and regions of high fuel prices are sparsely settled and have a very limited demand for power. Where low fuel prices obtain, steam turbines are active competitors of Diesel engines for large power plants, particularly when the station load factor is low. As most of the American manufacturers of Diesel engines work under license agreements with European manufacturers, which limit their market to the United States and its possessions and Canada, a further limitation is imposed upon them, leaving to European firms practically the entire world as a market.

Jan 5, 1917

By Frederic P. Dewey

The Bureau of the Mint of the United States Treasury maintains 13 ofEces for the purchase of gold-bullion, and this paper describes an investigation to establish the reasonable differences in the assay-results at the various institutions which may be commercially allowable in the settlements between them. Beginning with the comparative assay of proof-gold at the Philadelphia mint and the Utrecht mint, which shows 0.00002 as the closest agreement now possible, nine tables of comparative results, taken from the regular work of the service, are given..These tables begin with very fine gold, produced in an electrolytic refinery, showing close agreement in the assay-results, and follow through decreasing gold fineness and increasing amounts and complexity of base metals to very impure and complex bars produced at cyanide-mills, some of which give widely-varying results. Next is given a series of results on samples, prepared and sent out to various laboratories in the service, to test the influence of different metals and various combinations upon the agreement of the assay-results ; 11 samples were sent out and each one was assayed from 44 to 71 times, making a total of 623 assays. To these ire added 107 assays of identical samples of coin-gold. On a previous occasion,' I have endeavored to show the degree of accuracy that may be expected in the ordinary everyday analysis of various materials, and on another occasion,2

Jan 1, 1910

By J. R. Campbell

THE need for standardizing methods of arriving at definite conclusions regarding the cleanability of a given coal, and for measuring the performance of coal-cleaning equipment, is constantly increasing. Earlier notes by the author on this subject are amplified in this paper, because he believes that better preparation of bituminous coal is a partial solution of the coal operators' troubles. WASHABILITY STUDIES The term "washability" of coal was coined when washing was the universal method of separating coal from its impurities by utilizing their difference in specific gravity. This and analogous terms are still used in their broad sense although pneumatic or air separation is now used to clean coal. These terms are so used in this paper. Too much time or money, can hardly be spent on "feed surveys" to get a "picture" of the coal that is to be cleaned. There have been too many "rule of thumb" methods used. Screen analyses and "sink-and-float" tests on the raw coal enable the coal operator and washery man to predict within reasonable limits the results that may be expected from any efficient cleaning apparatus.

Jan 1, 1928

By W. T. Malone, J. R. Williams, R. L. Tiner, J. M. Tinsley

Hydraulic fracturing methods for production stimulation have become a common procedure in the oil and gas industry. Fracturing treatments are performed on wells of various potentials to help increase the production rate. In addition to the desire for increased production is the need to predict what increase might be expected. This knowledge is useful in economical treatment planning to accomplish the desired production goals for the well. Theoretical production increases due to horizontal radial fractures may be calculated using equations developed from mathematical analyses and electrical models.1,2,6 It also is possible to predict theoretical production increases due to vertical fractures using curves developed from electrical3 and mathematical models.8 However, these studies assumed that the vertical fracture height and the formation height were equal, which may not be true." In addition, the final fracture height through which fluid is produced may not be equal to the created height. The development of vertical fracture proppant transport relationships has made unrealistic the assumption that propped fracture height is equal to created fracture height. Through the use of published proppant transport equations,4'12 it is possible to calculate the height of a bed of propping agent deposited in a fracture of a given height. Assuming that the fluid flowing in the fracture moves through only the propped portion of that fracture (i.e., that the un-propped part of the fracture heals) it becomes essential to know how production increase varies with the ratio of propped fracture height to formation height. It should be recognized that future investigation may determine that the fracture does not heal completely and that a highly permeable channel exists over the deposited bed of proppant. The effect of this channel was not considered for the present study. The following analysis of experimental data allowed development of curves to determine theoretical production increases considering fracture height as a variable. Discussion In designing a fracturing stimulation treatment a number of variables must be considered. The size of the treatment, type of proppant used, proppant concentration, treatment fluid properties and well conditions are all factors affecting the dimensions and permeability of the fracture. Production increase due to a vertical fracture is affected by propped length, height, width and permeability of the fracture for a given set of formation conditions. Production increase may be defined as the ratio of production rate after fracturing to the production rate before fracturing at the same pressure differential, pe — pw. The producing rate in an

Jan 1, 1970

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By G. P. Halliwell, C. R. Austin

The investigation described in this paper deals with the development of high-temperature alloys of the Konel series over a considerable period of time at t,he Research Laboratories of the Westinghouse Electric and Manufacturing Co. The word ''Konel" has been coined to designate a class of alloys which are essentially nickel-cobalt-iron with other elements added, usually in small quantities. Most of these alloys contain titanium, usually about 2.5 per cent. The main consideration related to strength at high temperatures but the thermionic characteristics of the alloys was also of considerable importance. It is, however, with the mechanical properties at elevated temperatures that we are herein concerned. Much attention has also been devoted to their age-hardening characteristics. There is little need to stress the utilitarian aspect of this subject, as it has been discussed frequently. Alloys exhibiting superior properties at normal or elevated temperatures rapidly find many suitable applications. There may be some question, however, as to what constitutes a "superior alloy," or an alloy that may have good service possibilities at high temperatures. The problem is complex and various means have been employed to predict the useful life that may be expected of a material. In recent years the "creep limitJ' has been used as the best means of evaluation. Such tests necessarily are prolonged and hence collection of data is very slow. In a general survey of many alloys therefore the creep test is not desirable and recourse must be had to much shorter time tests in order more rapidly to select alloys which appear to show promise. For this reason the present survey has been made using the high-temperature tensile test and a bend test developed by Howard Scott.' In the tensile test the conditions have been standardized for all tests, so that values obtained are at least comparable, one alloy with another, although the absolute values recorded merely indicate the mechanical properties at the given temperature under a definite rate of loading.

Jan 1, 1932

By C. Richard Tinsley

INTRODUCTION The economic analysis (Chapter 3), the engineering studies (Chapter 10), the credit structure (and the consequential funding sources) - Chapter 11, and the overall feasibility structure for any venture are all directed to determining one major decision element: How much and how certain is the reward for taking these risks? Risk assessment is a surprisingly weak area of analysis and is usually addressed in a checklist fashion. It is much preferable to deal within a risk system so that the inevitable tradeoffs among risks are correctly made. DEFINITION The first step toward risk definition must be to ascertain all of the risks to which a project or a company is exposed; otherwise one will remain ignorant of the possibility of a financially crippling loss until it occurs. (Carter and Crockford, 1974). However, simply stating what "risk" is can lead to debate. For example, risk could be (adapted from Vaughan, 1982): -the chance of a loss - uncertainty of loss -possibility of loss - uncertainty -dispersion of actual from expected results - probability of an outcome different from the one expected - possibility of an occurrence of an undesirable contingency -a condition in which a possibility of a loss exists. For the minerals industry financier, the last definition is probably the most appropriate. However, from a mineral company's point of view the definition might well include the possibility of not achieving the expected financial return. RISK CLASSIFICATION Risk identification will be readily agreed as the all-important first step. There are five major "branches" of risk classification. These are: -Statistical -Modellers -Checklist -Project Financing -Insurance The Statistical set discovered probability theory and any risk discussion soon deteriorates into a mathematical jungle (Megill, 1977; Hartman, 1976; Reutlinger, 1970; and Pouliquen, 1970).Their use of terminology tells its own story: coin toss (binomial distribution), gamblers' ruin, delphi (oracle) techniques, monte-carlo simulations, random walks, etcetera. These techniques inadequately represent the judgements necessary in an increasingly complicated and interrelated world. The risk Modellers have turned to the computer to handle these inter-relationships but soon find barriers because of "simultaneity". Certainly the computer has its uses to conduct various analyses (marketed as "sensitivity" analyses) but very often one finds that this involves changing one or two variables at a time, all other things being equal. Unfortunately, in a modern and complex world all other things do not remain equal. The statisticians will, no doubt, jump to their own defence by citing this

Jan 1, 1985

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. B. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" B Howard-Canfield Bldg. Santa Barbara, Calif. COWIN & Co. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I- 18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952