Search Documents

THE CHAIRMAN.- This meeting is under the auspices of the American Institute of Mining and Metallurgical Engineers, and I think the germ of the idea originated in the steel business. Last year there was a meeting of prominent people in the steel industry with the idea of getting together and discussing practical phases of their business, so that everybody could contribute and from that there might be benefit derived for the industry. Several months ago when Mr. Bain was in Salt Lake City, he and Mr. Oldright asked me what I, as an individual, thought of it. From that originated this idea of having the copper people come together to discuss reverberatory smelting and all its phases. In starting out, it seemed the best plan to ask members what particular subjects they wished to discuss first; that is, the ones that would be considered more important. We asked Mr. Oldright, or suggested sometime ago that the meeting be postponed until May because May is a lovely month in Salt Lake. There are a number of attractive features around the city. We have a number of smelters here and I think that probably the most of the benefit will be derived from talking in an informal way and visiting the various plants around. the valley. At any rate, speaking as a resident of Salt Lake, I am glad to see all of you gentlemen here, and hope you have an interesting and instructive time. The tentative list of subjects for discussion at this conference is as follows: Construction Walls, etc. Walls, proper design and thickness of brick for various types of charging. Bottoms, construction of. Binding steel, correct weight and arrangement, where thrust of arch should be taken. Refractory materials, feasibility of using different material in various parts of the furnace. Water jackets, where applicable. Should bricks be used inside of same. Gas space, proper design for, height of roof above bath, etc. Roof Shape of Roof, in hot zone and elsewhere, longitudinally. Construction of roof, in various zones, around openings.

Jan 1, 1930

Eight members of the Board, the Secretary of the Institute, and eleven guests were present. Vice-president Henry S. Drinker presided. The President was authorized to appoint delegates to a meeting, on May 16, of the League to Enforce Peace. The Joint Conference Committee reported that the American Institute of Metals had accepted the invitation to form the Institute of Metals Division of this Institute. The Committee on Publications of the Institute of Metals was added to the Committee on Publications of the A. I. M. E. Exchange of one volume of Transactions of the A. I. M. E. at reduced price to members of the British Institute of Metals was authorized, in return for the reduced price given to our Institute of Metals Division on the annual proceedings of the British Institute.

Jan 6, 1918

There were present twelve- Directors, the Secretary and the Assistant Secretary of the Institute, and fifteen guests. A committee of three was appointed to draft a suitable resolution of memorial of the services of Joseph Esrey Johnson, Jr. The committee consists of Joseph W. Richards, Chairman, J. V. N. Dorr and Allen H. Rogers. William R. Walker was elected a Director in place of J. E. Johnson, Jr., and Edwin Ludlow was elected a member of the Executive Committee in his stead. George C. Stone was appointed Chairman of the Committee on Membership in place of Mr. Johnson. The following resolutions were then adopted: RESOLVED, That a special business meeting of the Institute be and the same hereby is appointed to be, held at the office of the Institute, No. 29 West 39th Street, Borough of Manhattan, City of New York, on the 27th day of June, 1919, it 8.30 o'clock in the P. M. to consider and take action upon the proposal to change the name of the Institute to "American Institute of Mining and Metallurgical Engineers, Incor-porated," and the further proposal to extend the corporate purposes of the Institute so that it shall, in addition to its other powers, be empowered to promote the arts and sciences connected with the economic production of the useful minerals and metals, and the welfare of, those employed in these industries, by all lawful means.

Jan 6, 1919

By John B. Hastings

THE reconnaissance of the Goldfield mining-district, described in this paper, was made in May and June, 1905, and, though this time was too short for a complete report, the work accomplished may serve as a basis for more thorough future research. Dr. Berkey has examined the rocks collected by myself, and I am using his classifications. As a result of further field-work, and Dr. Berkey's examination of the rocks, this paper is an elaboration and correction of my views expressed in the Gold-field Sun, May 12, 1905. The sketch-map, Fig. 1, illustrates the geology of the Goldfield mining-district. Goldfield is an eruptive complex, consisting of alaskite (binary granite), hornblende-andesite, hornblende-dacite, rhyolite, pyroxene-andesite, pyroxene-dacite (sometimes containing, a small quantity of olivine), quartz-felsite, olivine-pyroxene-ande¬site, and basalt. Considering this list to be arranged in the order of eruption, the age-sequence of the rocks conforms to Richthofen's law, formulated in 1868. From his observations in Europe and America, propylite, andesite, trachyte, rhyolite and basalt, occurring together, succeed one another. In a general way, the medium and more acidic rocks precede the most asic-a result supposed by some to have arisen from their relative position beneath the surface, and due to a rude stratification by gravity in the original cooling magma during the older history of the earth, or to the same differentiation occurring during a quiescent (molten ?) period preceding eruption, being aided by the ease with which acidic rocks, mixed with water vapors, become fusible. In effect, the more basic and less re-

Mar 1, 1906

By F. R. Hensel

The present paper describes a number of experiments with fine silver, coin silver, silver-cadmium oxide and silver-nickei-copper compacts, prepared by powder metallurgical methods. The test data are of a preliminary nature, since most of the work was exploratory. Fine Silver Eject of Compacting Pressure on Hardness and Density during Cold and Hot Pressing The cold-welding properties of silver have received considerable attention and the welding characteristics are functions of such variables as: cleanliness of metal particles (impurities and adsorbed gases), chemical nobility of particles, plasticity and hardness, particle assortment, particle shape, particle porosity, apparent density, temperature, pressure, time, recrystalliza-tion characteristics. Chemical nobility, plasticity and low temperature of recrystallization after work-hardening are responsible for the excellent low-temperature bonding properties of silver. Several series of compacts were pressed at pressures of 5, 10, 20, 30, 40, 50, 60 70 and 80 tons per square inch, at temperatures of 32°C. (room temperature), l00°, 2000, 300°, 400°, and 450°C. Silver powder of minus 325-mesh, produced by displacing silver from a nitrate solution by means of copper, was used. The density was calcuiated from accurately measured and weighed compacts. The hardness was measured on the Rockwell F scale. The investigation shows that an increase in pressure promotes a higher density and hardness regardless of pressing temperature, up to a temperature of 400° C. The pressure-density curves at various pressing temperatures are shown in Fig. I, the pressure-hardness curves at various pressing temperatures, in Fig. z. The greatest increase in both hardness and density was obtained in the pressure range of 5 to 20 tons per square inch. A compact from each series was annealed at 300°C. in air, for various lengths of time. The hardness values after annealing are shown in Table I. A minimum hardness was obtained after one hour of annealing. No change in density occurred during annealing. The maximum density was obtained at 80 tons per sq. in., and at this pressure the hardness is equal to that of hard-drawn wrought

Jan 1, 1945

By H. Foster Bain

THERE has never been a great civilized nation which did not have a mining industry; civilization cannot flourish without metal mining. Without tools we can have none of the 'industries that are the foundation of civilization and without metal mining we cannot produce the material of which tools are made. Therefore, if we have no metal mining we have no metals, no tools, no civilization. An example to illustrate this may be drawn from a recent article in the Saturday Evening Post which described the run-down condition of modern Athens. Athens is nothing but a busted mining camp! In its palmy days the Greeks so applied the leasing system to the silver mines of Laurium that the royalties, paid the expenses of government and instead of a tax bill the inhabitants received a pay check. The Persians came over to capture these mines but the Greek navy was built to defend them. When the silver mines played out, Greek civilization declined.. Our mining must continue if our civilization is to continue.

Jan 1, 1921

By AIME AIME

CERTAINLY in point of attendance, and doubtless in several other ways as well, the 147th meeting of the A.I.M.E. was the best ever held. In times of depression, mining engineers and metallurgists have plenty of time to come to the Annual Meeting but money is scarce; at the height of industrial activity they have plenty of money but no time. "The current period of transition seemed to provide ideal conditions for' both the preparation of papers and attendance at their presentation. The weather made even the Californians present envious though the weather man gets no credit, for rain and snow was what he willed. Among the elevator men, the miners have the reputation of being the toughest crowd to handle, though the best natured, withal, of all the engineering groups that meet in the Engineering Societies Building. This year Your inquiring reporter was told, "it was the damnedest meeting I ever saw; they

Jan 1, 1937

By Leo J. Vogel, E. D. Hummer, David J. Akers

INTRODUCTION An efficient refuse-disposal system is a necessary part of the modem cleaning plant. The large-scale refuse system and disposal area, engineered for the lifetime of the plant, has become more important due to the greater tonnages of refuse produced from increased quantities of mechanically mined and prepared coal. Laws and increased government regulations have affected the design and operation of disposal systems. THE EFFECT OF MINE AND PLANT OPERATION Refuse disposal starts at the mining face. The mining system, the type of roof support, the machinery used, and the degree of discipline at the face contribute to the amount and type of refuse that must be removed through the disposal system. Economies gained through modification of the mining system or mining machinery may be partially offset by increased dilution of the mined coal with impurities from associated rock formations. In some cases the change in the mining system and equipment has reduced the dilution. In all cases the ratio of impurities that must be removed from the raw-coal feed to the plant not only affects the maintenance and

Jan 1, 1979

Remarks of Mr. Robert W. Hunt, General, Superintendent, Albany and Rensselaer Iron and Steel Company., Troy N. Y.—In discussing Dr. Dudley's two most interesting papers, I feel a natural hesitancy in disagreeing with conclusions formed after such careful and conscientious work. But I think he has made his deductions from too meagre premises. The analyses of but twenty-five samples are entirely too few to justify the establishment of so important a formula. When we consider that he indirectly proposes to regulate an interest amounting, even at the present low prices, to over $20,000,000 per annum, we may well hesitate before accepting a formula based upon the chemical and physical analyses of but twenty-five steel rails. Dr. Dudley touches the keynote in referring to the proposed labors of the Government Test Commission. They based their hopes of attaining success upon the chemical and physical analyses of a very large number of samples, and in the only branch of investigation which the short-sighted policy of Congress has allowed them to complete, i.e., chain cables, we find that a dozen, twenty-five or one hundred tests gave no satisfactory results. It was only after many hundreds that they were enabled to' draw conclusions. There are so many circumstances hearing upon the life of a rail, that the task of extracting a correct result seems herculean. I presume I am right in stating that in our Northern latitudes early winter and spring months witness the breaking of the greatest number of rails, thus seeming to prove that an unstable road-bed has much to answer for. Then, again, broken and flattened wheels must be taken into account, but I am convinced that more rails have been broken by the treatment which they received before leaving the rolling-mill

Jan 1, 1879

Remarks Of Mr. Robert W. Hunt, General Superintendent, Albany And Rensselaer Iron And Steel Company., Troy N. Y. - In discussing Dr. Dudley's two most interesting papers, I feel a natural hesitancy in disagreeing with conclusions formed after such careful and conscientious work. But I think he has made his deductions from too meagre premises. The analyses of but twenty-five samples are entirely too few to justify the establishment of so important a formula. When we consider that he indirectly proposes to regulate an interest amounting, even at the present low prices, to over $20,000,000 per annum, we may well hesitate before accepting a formula based upon the chemical and physical analyses of but twenty-five steel rails. Dr. Dudley touches the keynote in referring to the proposed labors of the Government Test Commission. They based their hopes of attaining success upon the chemical and physical analyses of a very large number of samples, and in the only branch of investigation which the short-sighted policy of Congress has allowed them to complete, i.e., chain cables, we find that a dozen, twenty-five or one hundred tests gave no satisfactory results. It was only after many hundreds that they were enabled to draw conclusions. There are so many circumstances bearing upon the life of a rail, that the task of extracting a correct result seems herculean. I presume I am right in stating that in our Northern latitudes early winter and spring months witness the breaking of the greatest number of rails, thus seeming to prove that an unstable road-bed has much to answer for. Then, again, broken and flattened wheels must be taken into account, but I am convinced that more rails have been broken by the treatment which they received before leaving the rolling-mill * The remarks of the participants in this debate have been written out by the speakers, and are here given without any attempt to retain the order of the dis¬cussion. While the report does not, therefore, preserve the vigor and spontaneity of the debate, it is believed that it gains in value by giving the matured views of the speakers. The continuation of this discussion at the Pittsburgh Meeting, May, 1879 (beginning with remarks of Mr. Cloud on page 401), is appended for convenience of reference.-T. M. D., Sec'y

Jan 1, 1879

By John B. Knaebel, Robert J. Grant

This paper outlines the trends in gold production since the discovery of America, in the world as a whole, and in the principal producing regions as well. World production climbed at an average rate of about 20,000,000 oz. per 5-year period until the record all-time output of 111,307,000 oz. in the period ending with 1915. Production fell off during the war period, but has been mounting since 1925, and will probably be nearly 100,000,000 oz. for the 5-year period ending in 1930. Total world production of gold from 1492 to the end of 1930, as closely as can be determined, is more than 1,061,000,000 fine ounces. More than one-half of this total, or about 575,000,000 oz., has been mined since 1900. In percentage of world production, the United States jumped from 4.8 per cent for the decade 1831-1840 to 44.5 per cent for the five years ending with 1855. This is the highest figure ever reached by this country, although, with the exception of the 10-year period ending 1865, it ranked first among the nationa from 1849 until the end of 1905. During the 5-year period ending with that year, the United States produced 24.7 per cent of the world's gold. The tremendous increase from South Africa following 1890 resulted in that country's becoming the largest contributor for the five years 1906-1910, a position it has held with increasing dominance ever since. Relegated to second place in the period 1906 to 1910, the United States produced nearly 20 per cent of the world's new gold until 1920. From 1921 to 1925 it averaged 13.6 per cent and since then it has continued to decline in relative importance, accounting for only 10.9 per cent in 1927. Final figures for 1930 may place Canada second among the gold producers of the world.

Jan 1, 1931

By David W. Brunton

I. INTRODUCTION. THE list of our past-Presidents comprises the names of runny who, in their official addresses, have sketched the current progress of the arts and professions with which they were familiar. Such addresses are, in my judgment., highly useful, setting forth the results of our own work as a. society, and recalling to our minds the particular lines in which discussion would prove most fruitful. . Following this course with some hesitation, I venture to offer an outline of the recent improvements and the present situation in minim and metallurgy in the Western United States. The wonderful advances in mechanics, chemistry, and electricity have all combined to aid these arts to such an extent that. progress during the last decade has undeniably been more rapid than ever before in the history of the profession.. In all mining countries improved transportation-facilities, in many instances called into existence by the traffic created by the mines themselves, have done much- to enlarge the. field of operations by the reduction of freight-, operating- and living-expenses, thereby bringing lower-grade properties into the producing class. Under normal' conditions, as the age of a district in¬creases, all these differentt factors should combine to off-set. the augmented costs attendant on deep mining, and greatly tend to prolong the profitable life of the mines. The more recent and important improvements in our Western mining-practice which have contributed most toward the advancement of the art may be briefly summarized as follows; but, before beginning this portion of ray address, I wish to thank most heartily the many engineering friends who have so

Sep 1, 1909

By Edward C. Stephens, Robert R. Coats

High-grade copper ore was discovered in 1932 in the long-dormant Mountain City (Cope) mining district, Elko County, Nevada. From 1932 to 1947, the one producing mine in the district, the Mountain City Copper Mine, produced 1,109,878 short dry tons of ore averaging 9.745 per cent copper, 0.274 ounces of silver, and 0.0057 ounces of gold per ton. The Mountain City Copper Mine is developed in eugeosynclinal rocks of Ordovician age, the Valmy Formation, which is part of the upper plate of the Roberts Mountains thrust. On the Valmy were deposited unconformably first, a elastic formation of Devonian or Mississippian age, the Grossman Formation, succeeded unconformably by a ·sequence of three conformable formations, the Banner, the Nelson, and the Mountain City. The Banner Formation probably is early Late Mississippian in age; the ages of the Nelson and Mountain City are not known precisely but are believed to be of Late Mississippian and Carboniferous(?) age, respectively. A thick formation of elastic rocks, limestone, and volcanics, the Reservation Hill Formation, has been thrust over the Mountain City. The age of the Reservation Hill is unknown but is presumed to be Pennsylvanian(?) and Permian(?). Several plutons of Cretaceous quartz monzonite intrude the Paleozoic formations; they and the intruded formations have been laid bare by erosion, and several sequences of volcanic rocks of Miocene and Pliocene age, and perhaps in part older, have been successively deposited on irregular erosion surfaces. The primary mineralization of the Mountain City Copper Mine is believed to postdate the deposition of the Nelson Formation and to predate the intrusion of the quartz monzonite. The primary ore bodies are lenticular in shape and are composed largely of quartz, pyrite, and chalcopyrite. The ore lenses, in general, strike northwestward and dip northward. They occur in the Valmy Formation within a definite stratigraphic sequence composed largely of shales with associated minor quartzite lenses. The ore is epigenetic. The principal ore body, the "200," was completely leached to the 200 level. Abruptly beneath the barren gossan was supergene copper sulfide ore, much of which assayed 50 per cent copper. The secondary copper minerals are sooty and massive chalcocite, bornite, and covellite. The supergene enrichment of the ore may have required a large part of Tertiary time.

Jan 1, 1968

By R. HAYDEN, H. B. HALLOWELL, H. O. Hofman

THE object of refining copper in the reverberatory furnace is to obtain a metal which will have the highest attainable degree of malleability, ductility and electric conductivity, and present at the same time a level surface when it solidifies in the mold after casting. These desirable physical properties are governed by the character of the impurities and the forms in which they are present, by the amount of cuprous oxide retained by the copper, by the quantity of gas held in solid solution, by the casting-temperature, and by the thickness of the casting. The effects of impurities, of cuprous oxide and of gases upon the mechanical properties of copper have been studied by Hampe in his classical paper "Contributions to the Metallurgy of Copper." The most recent research into the effect of metals upon the electrical conductivity of copper is that of Addicks.2 The influence of cuprous oxide upon the electrical conductivity has been investigated by Walker' and Addicks.4 The absorption of gases has received' attention by Hampe,5 Stahl 6 and Heyn.7 The effects of casting-temperature have been noted by Stahl.8

Mar 1, 1907

By W. Lawrence Austin

Jan 1, 1884

By AIME AIME

QUALITY and size do not ordinarily go hand in hand, but there is good evidence that both these attributes reached a new peak at the Annual Meeting of the Institute in New York just concluded. Certainly, the total attendance of 2500 was far above any yet attained, as might be expected with the recent rapid growth of Institute member- ship. General comment indicates that the quality of the papers also was notable, though not measurable by so definite a yardstick as attendance. During the meeting 49 technical sessions were held, at which more than 250 formal papers were presented. In addition, there were some thirty special meetings of committees, Divisions, and other Institute groups. In reporting the Annual Meeting eleven years ago the statement was made that "unless the Engineering Societies should build for themselves a new building it is probable that no meeting can be larger," and "the fifth floor, where a buffet lunch is served each day, has reached its full capacity and it seems quite evident that any future development of Institute meetings must be along the lines of quality, not size." Unfortunately the angel to succeed Andrew Carnegie, who financed the building of the present home of the Institute 35 years ago, has not yet ' appeared. Even if some one would merely build another elevator or two in the present building it would help. Fortunately, the modern auditorium of the American Radiator & Standard

Jan 1, 1940

By Charles C. Goddard

Since discovery of silver-gold lode deposits in 1864, the Butte district has produced more than $2.25 billion worth of copper, zinc, manganese, silver, and gold, an unprecedented value in the mining world. Exhaustion of the gold placer deposits along Silver Bow Creek, southwest of Butte, forced the early-day placer miners to turn their attention to the bold out- crops of the many veins exposed on the hillsides above the placer diggings. These outcrops bore silver and gold, and enough so that many lode claims were located. Such famous silver mines as the Alice, Moulton, Magna Carta, Nettie, and Blue Bird were developed. These and many smaller operations contributed to making Montana the leading silver-producing state in the 1880's. As depth was gained in the silver mines in certain parts of the district, occurrence of zinc minerals became troublesome. Zinc was not recoverable at the time, and in the chloridizing, roasting, and amalgamation of the ores, silver and gold recovery was greatly reduced. A period of active silver mining continued until 1892, when a decline in the price of silver brought the silver mining period to a close. Elsewhere in the district it was discovered that while some of the veins contained silver ores in the oxidized portions, the predominant minerals that were deeper were copper-bearing. Marcus Daly exposed rich copper ore on the 300 level of the Anaconda mine in 1891, and mining in the district disclosed that copper was destined to be developed in abundance. Early copper ore shipments were made to Swansea, Wales.

Jan 3, 1959

By J. B. Campbell, V. V. Valleroy, B. T. Willman, L. W. Powers

A steam drive of heavy oil was field tested in a shallow, low oil-saturation formation near Deerfield, Mo. The pilot was conducted in the Warner formation, a sandstone containing an 18' API oil having 1,000-cp viscosity at the 60F origind reservoir temperature. The formation war at a depth of 160 ft. Steam was injected into nine input wells arranged in an array of inverted five-spot patterns. In the completely confined center pattern, 14 temperature observation wells were installed to obtain thermal data and observe test progress. Late in the test, slugs of ammonia were injected to trace the flow paths of injected fluids. From the test area about 7,000 bbl of oil were produced. Data were obtained on areal and vertical temperature distribution, steam front advance, reservoir fluid movement and terminal saturations. This field test of a steam drive (I) demonstrated the feasibility of the method, (2) confirmed that the low residual oil saturations observed in the laboratory are obtained in the steam-swept region in the field and (3) provided recovery and conformance data for one set of field conditions. INTRODUCTION The Deerfield steam drive pilot test was conducted in a shallow sandstone containing 1,000-cp oil. The venture was undertaken cooperatively by the research and production departments of Carter Oil Co., which organizations have since been consolidated into Esso Production Research Co. and Humble Oil & Refining Co.. respectively. The production department was interested in steam injection at Deerfield because it appeared to be the most promising method of commercially producing this heavy oil deposit. The research department was interested in applying the new recovery method and in evaluating its performance in the field. At the time the test was begun, the initial oil saturation was not well known. Subsequent air coring and early pilot results confirmed that there was too little oil in place for profitable commercial exploitation by steam. Pilot termination at that time, however, would have been premature for evaluating field performance of the process, and the tert was continued to obtain additional data on steam injection as a recovery method. The test was located in Vernon County, Mo., about 10 miles north of the town of Deerfield and only a few miles from the Kansas border. The pilot site was selected as typical of the area. The location represented neither the highest nor the lowest oil saturation region in the acreage under lease in 1954. The steam drive was conducted in the Warner sandstone of Lower Pennsylvanian age. At the test site the top of the Warner occurs at about 160 ft subsurface and the formation is a fine- to medium-grained micaceous sandstone that dips gently to the northwest at the rate of 12 to 15 ft/ mile. A cross-section and permeability profile of the test location are shown in Fig. 1. At the pilot location the average total thickness of the Warner formation is about 43 ft, but the effective thickness for steam drive is 26 ft. Two distinct types of hydrocarbon saturation are apparent. The lower portion of the total sand, averaging about 17 ft thick, contains a very heavy asphaltic material that will not flow under the influence of a steam drive. This bottom interval, referred to as a dead oil residue, was not considered as part of the net sand undergoing steam exploitation. The initial formation and fluid properties of the upper 26 ft in the test area are summarized in Table 1, and variation of oil viscosity with temperature is shown in Fig. 2. Imbibition tests on preserved core samples taken at the end of the pilot test showed that the Warner sandstone was then neutral or slightly water-wet. Initially, the reservoir may have been strongly water-wet as indicated by low relative permeability to water during both water injection testing and early steam injection. PRIOR HISTORY Initial production tests of wells at the pilot site produced water with only a faint show of oil. No gas was produced except at Well 7-W in the pilot area and at another well about 1/3 mile northeast of the pilot. Prior to the start of the steam drive, a two-well water injection test and a two-well air injection test were conducted. No oil was produced by either. Water was pumped into Well I-W in the northeast corner of the pilot area with simultaneous production from Well 1 (Fig. 3). The air-injection tat was run at input Well 9-W and its offset, Well 2, in the southwest corner. Air and water injectivities were about the same when corrected for viscosity and pressure differences.

IN THE past, we have, perhaps, been somewhat careless in our furnace practice, in the use of high-grade material, lowering the production costs through demanding high-grade ores, increasing the size of units, and eliminating heat losses by collecting and returning unused heat to our furnaces. Further economies would seem to be possible through keeping out of the furnace those materials that appear to serve no useful purpose and carry with them heat that should be used in reduction operations. In the manufacture of pig iron, about three tons of inert nitrogen pass through the furnace for each ton of iron produced. This nitrogen serves no useful purpose in the chemical actions involved, but when discharged into the atmosphere it carries away a considerable quantity of heat. Can not this loss be eliminated, at least in part, through the use of more oxygen in the blast? Many metallurgical chemists, during the past 20 years, have stated that they thought it can and have urged that the plan be tried. Others have expressed doubt, not being able to visualize how more oxygen could be used in present practice; they have regarded it as impracticable, without trying to conceive of an entirely new practice based on a new reagent. That more experimental work has not been done is due to the fact that no cheap oxygen has been available, but the committee believes that there is strong reason to expect that, should a demand exist, 99 per cent. oxygen may be made at a cost not to exceed $3 per ton. The theoretical studies of the committee have indicated such marked economy by using oxygenated air in various operations that its members strongly recommend experimental work to verify the anticipated economies. The committee has developed plans for experimentally determining the effects of oxygen-enriched air on the operation of an iron, blast furnace. A furnace with a height of 30 ft. has been built and it is recommended that the plans be put in, effect as the first step in the research.

Jan 11, 1924

By AIME AIME

EDWIN W. KEMMERER, professor of international finance at Princeton, in a speech before a banking conference at Urbana, Ill., on Nov. 26, stated that the increase in the store of gold held by the United States is not so alarming as it appears on the surface. Excerpts from his address, as reported by The New York Times, follow: "It is significant . . . that the value of gold as expressed in its purchasing power in the United States during the last half-dozen years has been higher than at any other equivalent period since our records began 140 years ago. Our so-called 59-cent dollar today buys about 25 per cent more goods at wholesale than did our old dollar in the prosperous year 1926, and an ounce of gold will now buy considerably more than twice what it did then. This present high value of gold is one reason for its recent large production.

Jan 1, 1941