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By Charles R. Keyes

Discussion of the paper of Charles R. Keyes, Bi-Monthly Bulletin, No. 19, January, 1908, pp. 1 to 31. BERNARD MACDONALD, Guanajuato, Mexico (communication to the Secretary*) :-Mr. Keyes's paper is very interesting to me because of my personal experience with the development of the ore-deposits of Lake Valley. Seeing that many of the important facts connected with the early history of the development of these mines are either now unknown, or have become more or less distorted, and thinking that it would be interesting as well as valuable to have these recorded as a historical supplement to Mr. Keyes's elaborate paper, I present the following narrative: In February, 1881, soon after the Atchison, Topeka & Santa Fé railroad made connection with the Southern Pacific at Denting, N. M., the Lake Valley properties were brought to the attention of New York and Philadelphia capitalists by John A. Miller, of Silver City, N. M. At that time silver was $1.10 all ounce and silver-mining was very attractive. Vast fortunes were being made in Leadville and other Colorado camps, and Tombstone was pouring out its millions. Lake Valley, like all' other mining-camps in their early history, had its drawbacks, but the railroad, then passing within 14 miles of it, mitigated many of these. The camp lay in the foot-hills of the Black range, in which the Apaches had their stronghold, and raided, when it suited their convenience, the surrounding country, killing the prospectors and pioneer settlers and stealing their cattle. This band of Indians was joined by the outlaws and desperadoes from the frontiers of Texas, Arizona, and Mexico, who collectively defied the United States soldiers, restrained, as the latter were, by the mollycoddles from the East. The brutality of the Indian raids through Arizona and New Mexico in those days would scarcely be believed now, but they stain in deep

Feb 1, 1909

By Robert H. Richards

Tuns truly remarkable machine was built on a preliminary scale in May, 1895. The first full-sized table was built by Mr. A. R. Wilfley, and was used in his own mill in Kokomo in May, 1896. The first table sold for installation was placed' in the Puzzle mill, Breckinridge county, in August, 1896. The mill enthusiasts at first hailed it as the cure for all the ills that flesh is heir to in the milling line. A little later it was found to make losses which were serious, and on this account the table succeeded only to a limited extent in displacing the vanners of the gold-mills. Still later, mill-men in a number of districts throughout the country made special studies of the faults of the machine, and devised a number of ways of grouping supplementary machines to overcome as far as possible the losses, and at the same time retain the benefit of the extraordinarily large capacity accompanied by the production of clean concentrates for which the machine has become so justly famous. I hope to make an exhibit of some of these methods in an appendix to my book on ore-dressing which is now in preparation. These experimenters have not written up the subject, and if they possess all the facts they have not given them out for the benefit of the mining profession at large. The object of this paper is to obtain the facts and to pre¬sent them so clearly that their bearing can be seen by all. To this end two complete series-'of tests have been planned. One (the present paper), to study concentration of galena in presence of quartz; the other (to follow shortly), to study concentration of chalcopyrite in presence of quartz. Some authorities claim that the table does its best work when treating natural products; by this phrase I mean products which have been crushed to pass through a limiting

Jul 1, 1907

By F. S. McNicholas, R. L. Healy

NOTEWORTHY because of the amount of explosives used, the tonnage broken, and the wide range involved both vertically and laterally, was a large underground blast fired last November at the Hidden Creek mine, Anyox, B. C. Stoping methods and mining prac¬tices at the Hidden Creek mine have previously been described in the technical press. Earlier mining methods employed included shrinkage stoping, glory-holing, and "spiral" stoping. The latter especially has been a practice peculiar to the Granby company, having been used for years at its Phoenix mines and later at the Anyox property where conditions as to size of orebodies and strength of ground both in the ore and walls were similar. These methods all leave tremendous excavations supported at key points by pillars and braces that may only be safely mined by big blasts.

Jan 1, 1935

By H. Morgolin, M. A. Greenfield, P. A. Farrar

In attempts to correlate mechanical properties with microstructure, it is desirable to determine the effect of ß grain size. Determination of 6 grain size is not a problem where a has precipitated at ß grain boundaries. However, in alloys which have been processed to produce an equiaxed a +ß structure the ß grain size is difficult to determine because ß grain boundaries do not etch. The ß grain size can sometimes be laboriously determined by searching for grains which have some a! outlining the 6 grains. This difficulty of ß grain size determination in equiaxed a + ß alloys can be overcome by heating below the ß transus temperature for a short time and water quenching. Fig. 1 shows the starting equiaxed a + ß structure of the Ti-5.25A1-5.5V-0.9Fe-0.5Cu alloy used in this investigation, and Fig. 2 shows the microstructure of the same sample water-quenched after heating 1 min at 1675"F, which is 25°F below the 0 transus. The heavily etched microstructure consists of some equiaxed a! in a structure showing considerable amounts of transformed ß. The ß grain

Jan 1, 1969

By P. B. Baxendell

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

By Marius R. Campbell

Does mine-sampling show the commercial value of a coal, and if so, how should it be done? This question is often asked, but seldom answered. During the past summer, while engaged in securing coal for the Government coal-testing plant at St. Louis, I had an excellent opportunity to obtain information on this subject, and the results seem to furnish an answer to the questions propounded above. Sampling for the Geological Survey Coal-Testing Plant. In organizing the work of the testing-plant, it was decided that coal in car-load lots only would be accepted for testing, also that this coal should be loaded under the immediate supervision of a representative of the plant, so as to be certain that the car-load sample would be representative. As an additional check on the work, two mine-samples were to be collected from each mine visited, and these samples, as well as the sam¬ple from the car when it was received at the testing-plant, were to be carefully analyzed at the chemical laboratory, which was established in connection with the plant and operated under the direction of Prof. N. W. Lord, of the Ohio State University, Columbus, Ohio. Mine-Sanmhling:-Mine-samples were collected with great care by me and my assistants, Messrs. J. Shober Burrows, John W. Groves and Frank W. De Wolf. The dominant idea in the regulations which were adopted for mine-sampling was that it should be done in such a manner that the sample would have the same composition as the commercial output of the mine. .

Sep 1, 1905

By N. A. Gjostein

From their study of the anisotropy of grain boundary mobility in aluminum, the authors conclude that tilt boundaries have a higher mobility than twist boundaries because the atomic misfit at the pure-twist boundary is relatively small compared to the misfit at a tilt boundary for a given amount of misorientation. If this is true, then one would expect a twist boundary to have a lower grain boundary energy than the corresponding tilt boundary. Fig. 6, taken from the work of Gjostein and Rhines,10 shows that this is indeed the case for [001]-cu tilt and twist boundaries in the high-angle region, thus lending support to the authors' conclusion.

Jan 1, 1968

By A. C. Fieldner

COKE and by-products have prime importance in the war program. The past year was marked by the construction of new and the rehabilitation of old by-product and beehive ovens and by the increase of production from existing plants to practically 100 per cent capacity. W. T. Brown's paper, "Plan to Improve Blast-Furnace Coke," presented at the Fuels Conference in St. Louis, Sept. 30, showed how the blending of low- and high-volatile coal improved the physical properties of coke and that improvement of the quality and uniformity of coke favored an increase of blast-furnace capacity- a vital need in the war program. Others in the industry have likewise increased production of coke or recovery of by- products by various innovations or changes in operation. Recognition of the value of pooling these developments for the benefit of the entire industry led to organization of a survey of coke- oven plants and blast furnaces by the Bureau of Mines in co-operation with the Solid Fuels Co-ordinator with a view to improving metallurgical coke production and recovery of by-products. This survey is being conducted with the help of an advisory committee consisting of representatives of the Bureau of Mines, the Solid Fuels Co-ordinator, the War Production Board, and the blast-furnace, coke-oven, and coal-mining industries.

Jan 1, 1943

By Richard W. Bayley

The Atlantic City district encompasses several districts and has been previously called by different names, e.g., Atlantic gold district, Atlantic City-South Pass mining district, and Sweetwater mining district. The district is located in a terrane of folded and faulted early Precambrian metamorphic rocks which lies near the south end of the Wind River Range in Fremont County, Wyoming, Historically it is a gold district of little production, but today is an iron district of considerable importance. Gold was discovered in placer deposits about 1842 and in quartz-arsenopyrite veins about 1867, after which there occurred a mining boom lasting a few years. Minor, intermittent gold production from placers and lodes has continued to date, but the total production has probably not exceeded a few millions of dollars. Past lode mining was generally shallow ( in the oxidized zone), the deepest about 3 60 feet. The deeper, less oxidized and sulfide ores on the same lodes have not been explored. They appear to hold the only hope for future gold mining. Sedimentary iron-formation, similar to the Lake Superior taconite, occurs in the northern part of the district. Locally, where the ironformation is thickened by folds and faults, sufficient tonnages are present to be minable, as at Iron Mountain, where the U.S. Steel Corporation produces about 1.3 million tons of iron-ore pellets annually. Exploration of the iron deposits began in 1954, and the first ironore pellets were shipped to Provo, Utah in August 1962. Indicated reserves of iron-formation (about 30 per cent Fe) are reported to be about 300 million tons.

Jan 1, 1968

By WALTER M. DAKE

GENERALY speaking, the bituminous coal mines of the country are being operated at a loss. To purchasers of the necessary commodity, a statement of this character may have the sound of a far fetched propagandist cry; but to the coal producer who lives in the hope of an up-turn in the almost stationary market price of his product, while inking in red his monthly operating balances, it carries the ringing sound of truth.

Jan 1, 1925

By Arthur Notmon

WORLD production of the three major nonferrous metals, copper, lead, and zinc, in 1939 will aggregate about 6,050;000 tons, compared with the all-time peak of 6,237,944 tons in 1937, and the previous peak of 5,679,442 tons in 1929. The United States will furnish 30.9 per cent of the total compared with 30.4 per cent in 1937 and 41.3 per cent in 1929. Table 1 gives the details of the three metals.

Jan 1, 1940

By Ralph W. Marsden

The natural iron ores of the Lake Superior Region in the United States are being replaced by iron-ore concentrates produced from magnetite- or hematite-rich horizons in the Precambrian cherty iron formations. The production of natural ores will soon be less than one-half of the total ore shipped annually. The tonnage of natural ore produced will continue to decline until it is a minor percentage of the ore shipped. The natural ores include (1) soft ore, (2) hard ore, ( 3) conglomerate ore and ( 4) siliceous ore. The soft ores are the important ore type and are sometimes termed "Lake Superior type ore". These ores are in situ deposits of hematite and limonite formed by the leaching of silica and other gangue materials in the iron formations. The leaching is believed to have been done by downward moving surface waters. In deep ore deposits, generally over 1000 feet below the present surface, circulation and leaching action may have been assisted by hydrothermal activity. Hard ore deposits occur on the Vermilion and Marquette ranges where hematite or magnetite has replaced the silica (and possibly some silicates) in cherty iron formation. These ores commonly occur in structural situations favorable for the movement of hydrothermal waters. The ores are believed to be the result of hydrothermal action with iron, possibly from the iron formation, transported by hydrothermal waters to areas favorable for the replacement of silica by iron oxides. Certain stratigraphic horizons of the Lake Superior Precambrian cherty iron formations contain sufficient iron as magnetite or hematite, with a grain size and texture that will give adequate mineral liberation, to yield an ore-quality product after grinding and concentration. The magnetite-rich deposits are termed magnetite taconites. These ores occur on the Mesabi, Gogebic, and Marquette ranges. Magnetite taconite ores are unenriched cherty iron formation and are the result of the sedimentary deposition of the iron formation and the metamorphic history of the rock. The commercial quality hematite-rich iron formations in Michigan are termed jasper ores. The jasper ores are being mined on the Marquette and Menominee ranges. These ores are composed of specular or granular hematite associated with quartz and iron silicates. The jasper ores appear to be recrystallized iron formations in which iron, prior to recrystallization, occurred as hematite.

Jan 1, 1968

By VERITAS

THE most concentrated industry of major character in the United States is that of the Ford Motor CO., which is to say Henry Ford. Its sole function is to supply the public with a cheap motor car which it does to the extent of two million or so per annum. In doing this, a relatively small profit per unit is multi- plied to an enormous aggregate per annum and has resulted in the creation of one of the greatest industrial fortunes of the world. The industrial and sociological consequences of .this are bound to be immense. On the physical side the production of two million automobiles means the consumption of two or three million tons of materials, chiefly metals, in the 'direct form of the finished product', and a huge additional tonnage of coal and other things that ,are consumed en route, and also the labor of many thousands of men. In the development of a business on this scale it was but natural that the Ford Motor ,Co. should seek to supply itself with the raw 'materials it needs, and they being so largely coal and metals the company is brought into close contact with the mining and metallurgical industries. It is a huge consumer of - steel. It is the fourth largest consumer of copper. It is a large consumer of lead, tin, aluminum and zinc. The mining and metallurgical industries have, therefore, good reason to learn to know Henry Ford, his personality, his thoughts and his policies.

Jan 1, 1924

By W. R. Ingalls

DUPING the last two years, and especially during the last six months, a number of important articles upon the new methods for the desulphurization of galena have been published in the technical periodicals, particularly in the Engineering and Mining Journal and in Metallurgie. I proposed for these methods the type-name of "lime-roasting" of galena as a convenient metallurgical classification,' and this term has found some acceptance. The articles referred to have shown the great practical importance of these new processes, and the general recognition of their metallurgical and commercial value which has already been accorded to them. It is my present purpose to review broadly the changes developed by them in the metallurgy of lead, in which connection it is necessary to refer briefly to the previous state of the art. The elimination of the sulphur-content of galena has been always the most troublesome part of the smelting-process, being both costly in the operation and wasteful of silver and lead. Previous to the introduction of the Huntington-Heberlein process at Pertusola, Italy, it was effected by a variety of methods. In the treatment of non-argentiferous galena concentrate, the smelting was done by the roast-reduction method (roasting in reverberatory furnace and smelting in blast-furnace); the roast-reaction method, applied in reverberatory furnaces; and the roast-reaction method, applied in Scotch hearths 2 Precipitation-smelting, simple, had practically gone out of use, although its reactions enter into the modern blast-furnace practice, as do also those of the roast-reaction method.

Sep 1, 1906

By Oscar H. Hershey

COMPLAINT has been made that in the literature of economic geology the work of the "company or practical" mining geologists does not get enough attention. I propose to attempt to overcome this com¬plaint in reference to one important lead-mining district, that of the Coeur d'Alene in northern Idaho. Furthermore, I will assume that the reader is not so much interested in the geology of the district as in the methods of application used and incidents that have arisen in the work. All the important discoveries of ore in the Coeur d'Alene were made without benefit of geology. Certainly I would not claim the reputed discoverer of the Bunker Hill mine as a fellow geologist. It appears also that the mines were operated quite successfully for many years without geological specialists, though doubtless certain properties were visited at long intervals by such men as Waldemar Lindgren. It was known that the ores occur in quartzite, graywackes and slates as stated by J. R. Finlay in 1903. (TRANS., VOL. 33.) He described the ore as occurring in typical fissure veins that occupy fault-planes of indeterminate displacement. The Bunker Hill lode was based on a definite fissure with the mineralization all on the hanging-wall side, extending as far as 300 ft. from the fissure.

Jan 1, 1933

By L. Moyd, P. Moyd

The first commercially available portable gamma ray-neutron beryllium detector, the Rerylometer, was developed by the same group that developed the first practical portable scintillation counter, the Scintillo-meter. This group includes Professor George Brownell, of the Geology Department of the University of Manitoba in winnipeg, and his associates, K. I. Roulston, R. w. Pringle, and R. L. Funt, of the Physics and Engineering Departments of the University of Manitoba. A prototype model was tested in the field by Dr. Brownell during the summer of 1958. Commercial production was undertaken shortly thereafter by Nuclear Enterprises Ltd., of Winnipeg, and a license for manufacture and distribution in the U.S. was granted to Isotopes Specialties Co., of Burbank, California, a division of Nuclear Corporation of America. Early in 1959, we were retained by the 'Mining Division of Minerva Oil Co. to Legin a search throughout North America for minable deposits of beryllium, and to train members of their permanent staff to continue the program. The project included literature sur-veys, interviews with members of various federal, state, and provincial agencies, scanning of our own collection of suites of specimens from various mineral occurrences, and the examination of deposits in the field. The value of a beryllium detector to this program was obvious and arrangements were made to procure one as soon as possible, which resulted in our obtaining and using the first instrument that was produced commercially in the U. S. In addition to the commercially available Berylometer, Mr. William Vaughan and his associates, of the U. S. Geological Survey Geophysics Division, in Denver, have developed and tested several experimental instruments based on the same principles. DETECTOR Principles The detection of beryllium is based on the fact that "hard" gamma rays (1.6 MEV and geater), such as those produced by Antimony convert ordinary beryllium (Be9) to Be8 , with the release of a neutron. The neutrons are counted by a scintillator designed to favor neutron responses while suppressing those of gamma rays. 'The instrument is completely selective for beryllium. No other element can interfere. Instrunlentation The Rerylometer itself, which is cylindrical, is about 8 inches in diameter, 13 inches high, and weighs about 11 pounds. (Figs. 1, 2). The principal components include: 1. A disc of wax to moderate (or "thermalize") neutrons. 2. A boron-enriched polyester-zinc-sulphide fluorescent screen. This material produces strong flashes when struck by thermalized neutrons but only weak flashes from gamma rays. 3. A photomultiplier tube. 4. An electronic circuit, complete with one srnall 71/2-volt dry battery. The photomultiplier tube and electronic circuit convert neutron flashes to electrical impulses, but gamma ray effects are almost

Jan 1, 1961

By AIME AIME

AT FOUR O'CLOCK members gathered in the auditorium for the annual business meeting of the Institute which, according to its charter, must be held on the third Tuesday of February each year. President Turner presided and after the usual formal action on minutes announced that he would create a precedent by transferring the President's annual address (which by tradition has always been delivered at the banquet on Wednesday evening) to the business meeting, and, furthermore, would only present a brief abstract of it. Since it appears in full on pages 127-131 of this issue it can be followed with the careful attention its thoughtful analysis of current conditions deserves.

Jan 1, 1933

By AIME AIME

TRANSFER to the Bureau of Mines of the responsibility for conservation and production of helium, and announcement that a proposal has been made to the President for commercial operation of the Los Angeles has attracted new attention to the helium program of the Government. The matter is one in which mining engineers, and the mining industry in general, have a peculiar interest. Helium is a byproduct of the petroleum and natural gas industry. It is found in certain of the natural gases which have themselves been discovered, in the main, in the search for oil. If it is to be produced on a large scale, the conservation and development of the fields will necessarily be done by the men of the oil and gas industry. There is no known or expected source of supply of quantities of commercial importance save in the natural gas fields. Not all gas wells supply helium and none of them supply it in important percentages. If it were necessary to prospect a field, develop it, lay pipe lines and build production plants for the helium alone, the cost would be prohibitive. On that basis helium would necessarily be restricted to essential war uses, where cost is subordinate to need. As a byproduct of the natural gas in certain, at least, of the fields in the United States there is distinct reason for anticipating that it may be produced in amounts and at a cost that will permit its regular use in commercial airships.

Jan 1, 1925

By E. J. Lintner

CLAY mining in the 'United States is by no means a small industry for approximately ten million tons of shale and clay are recovered yearly. The bulk of this tonnage enters into the manufacture of paving, building and refractory brick, draintile, pots, sewer pipe, stoneware, and wall and floor tile. This group of manufactures is commonly known as the heavy clay products industry. The winning of the raw materials for this industry constitutes merely a step in the manufacturing process because the manufacturer usually owns and operates his own source of supply. The mining of kaolin and the whiteware and chinaware claps, however, is usually a separate industry.

Jan 1, 1936

By W. C. Phalen

The production of salt in the United States divides itself at the outset into two distinct classes…

Jan 1, 1915