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By F. W. Bradley

GOLD is a large subject. One could talk about its geological or mineralogical occurrences, prospect- i11.g for it, mining of .it, its metallurgy or its marketing; but I have decided to limit my discussion to gold as a business-that is, to its production and marketing. In the production of gold, it is necessary to consider the many possible sources, the quantities available, the capital and operating costs and the chances of price-breaking competition. So in the following remarks I shall endeavour to point out that though gold is found in every formation constituting the earth's crust, though it is possible to-find it free in great concentrated placer deposits on the surface, though there are still large unprospected areas of both the surface and the crust, though it may be possible to produce it by the cheapest labor on earth, and by processes not as yet developed, it still has an unlimited market at a definite price. There is no reasonable fear of disturbance by the finding of bountiful deposits, or by cheapening the cost of production due to devaluation, or by the development of any easy processes for direct, or for by product, production.

Jan 1, 1932

By R. W. Raymond

On the Manchuria. SOMEWHAT fatigued with excess of enjoyment and strenuous continuity of movement on the trip to and through California, the members and guests of the Institute party embarked Tuesday, Oct. 17, on the Pacific Mail S. S. Manchuria for a further journey to and through Japan. The good ship displayed the flag of the Institute (blue cross-hammers on a white ground), together with the Stars and Stripes and the ensign of the company. Uninterrupted fair weather and smooth water attended the passage to Honolulu. The Manchuria proved herself most commodious, comfortable and clean ("A sweeter steamship never sailed," quoth President Hunt) ; Captain Dixon and his officers were most agreeable, as well as most efficient; the passenger list comprised many congenial people besides ourselves-among them a score of missionary folk, and also Mr. M. H. de Young, Vice-President of the Panama

Jan 1, 1912

By JOHN JANNEY

STABILIZATION of the adjustment of normal consumption to normal production of world commodities is quite different from reducing production until visible surpluses are consumed. The first means restoration and maintenance of prosperity, the second means merely a temporary alleviation of a condition with the prime cause remaining uncorrected. Overproduction of foodstuffs in some sections of the world while millions starve in other sections represents not so much overproduction of foodstuffs as mal-distribution of foodstuffs. The flour mills of Washington and Oregon normally ship quantities of flour to China. Now, the wheat that would make this flour goes East instead of West. Is this overproduction, or is there something wrong that calls for study, analysis and correction? Can the plan used by the ostrich of hiding its head in. the sand get us by this present world tragedy, or must the challenge to solve this problem be met, constructively? Can we not make out of this breakdown in the world's economic system an opportunity? And use it as the stimulus for remedying the basic cause of the trouble and not content ourselves with devising temporary expedients that aim at remedying this or that of the obvious conditions, in themselves not causes at all but rather the evidence of causes, or that are the symptoms of the real trouble.

Jan 1, 1931

By AIME AIME

A PERIOD of business depression and falling prices always raises questions as to the possible responsibility of the monetary or banking system. This is natural enough, for it is agreed that the supply of money or credit is a very important factor in modern business and in prices. However, it is far from being the only important factor. One of the chief merits of the gold standard is that under its workings the supply of currency and credit is regulated automatically to the masimun extent, in- stead of by the control of any arbitrary authority. The supply of new gold comes from the mines, and mining is free. It is distributed among the countries by the currents of trade and the play of economic forces, with the general result that the distribution tends to be in accordance with the economic development of the countries and their ability to use it or command it. Inasmuch as the accumulated stock of monetary gold is very large in comparison with the annual additions, the total avail- able supply changes but little from year to year, and it may be assumed that price-changes that are properly chargeable to gold will take place gradually rather than suddenly.

Jan 1, 1930

By Albert Ladd Colby

A GLANCE through the Bibliography appended to this paper will show that the Transactions of this Institute contain what virtually contitutes a history of the development of the manu¬facture of steel rails in this country and abroad. It is, therefore, fitting that this paper, bringing one branch of this important subject down to date, should be here presented, and it is also appropriate to select this joint meeting of our Society with the Iron and Steel Institute to compare the specifications covering the rails produced in these two countries, and to propose a standard specification to govern the manufacture of American rails for export. During the last ten years the production of Bessemer steel rails in the United States and Great Britain has amounted to 32,128,720 gross tons. Nearly 19,000,000 tons have been rolled in the past five years. The next five years will see an even larger output, owing partly to the extension of railway projects in the Orient, in South and Central America, in Mexico, and in Australia and the other British Colonies. Of late years, the American rail-mills have so largely increased their daily output, that trade conditions have often made possible the delivery of American rails to foreign ports. The tenders submitted by American mills, however, have always been accompanied by requests for changes in the foreign specifications, chiefly in the reduction of the amount of testing required; and it has only been natural, especially at first, that the engineer, whose specification had always been accepted without question by British mills, should interpret American tenders 'as an evidence that an inferior rail would be furnished

Sep 1, 1906

It is probably safe to say that, as the economic well-being of the mining industry goes, so goes the fortunes of mineral explorationists. And in 1977 the industry was not well at all. The year-long depression of the copper industry, marked by layoffs, temporary shutdowns, and mine closures, provided an appropriate background for the collapse of the nickel market, passage of a surface mining law that will affect the hard-rock industry in ways that are yet unclear, and the threat of operating under a new set of rules brought on by reform of the Mining Law of 1872.

Jan 5, 1978

By H. W. Gillett

UNLIKE most previous Howe lecturers, I had not the good fortune to be associated with Henry Marion Howe, nor to be directly one of his students. Yet, through his writings, he has been my teacher, as he has of all American metallurgists. Instructive as his writings are-I use the present tense because Howe thought so keenly and reasoned so surely, seeing clearly, as if by intuition, what was hazy to lesser minds, that his writings are still vital-it is not, those books and papers, nor even the minds he trained in his classes, that were his most outstanding service. It was the spirit of Howe in his: approach to the problems of metallurgy, his broad-mindedness and fair-ness, his recognition of the need for theories and hypotheses to explain metallurgical phenomena, his willingness to use them as servants, as well as his questioning attitude-his refusal to accept them as masters-that comprise his greatest service. This most thoroughly warrants the honor the Institute pays each year to his memory. These traits I so respect and honor in any man that I glory in this opportunity to do reverence to him in whom they were so notably united.

Jan 1, 1939

By AIME AIME

American Institute of Mining Engineers. (Organized in 1871, and Incorporated in 1905.) OFFICERS. For the year ending February, 1906. Directors JAMES GAYLEY (President), R. W. RAYMOND (Secretary), FRANK LYMAN Treasurer). T. A. RICKARD NEW YORK, N. Y. CHARLES H. SNOW NEW YORK, N. Y. R. W. RAYMOND NEW YORK, N. Y. (Terms expire February, 1906.) JAMES GAYLEY NEW YORK, N. Y. FRANK KLEPETKO NEW YORK, N. Y. FRANK LYMAN NEW YORK, N. Y. (Terms expire February, 1907.) JAMES DOUGLAS NEW YORK, N. Y. JAMES F. KEMP NEW YORK, N. Y. ALBERT R. LEDOUX NEW YORK, N. Y. (Terms expire February, 1908.)

Jan 1, 1906

By William B. Plank

IN this paper are presented the results of a complete statistical survey of the enrolment, courses and degrees, and the employment situation of recent graduates in all of the 46 institutions in the United States, including Alaska, and four of the six schools in Canada that grant degrees in mineral technology. The data were collected by the writer by means of a questionnaire in December, 1933, to which all the institutions, except one, replied. Included also are data of a similar study made by the writer in May, 1933, for the S. P. E. E. summer session of mining and metallurgical teachers at the University of Wisconsin and published in the Journal of Engineering Education for December. 1933. Some of the data of a paper of the writer's entitled, "The Trend of Mineral Engineering Student Enrolment in the United States," read at the A. I. M. E. meeting on Feb. 16. 1931, are given for comparison. Acknowledgment is made to all the administrative officers of the institutions who took the time from their busy lives to supply the in- formation asked for. Their fine cooperation has alone made possible these two surveys with a completeness of detail never before attempted

Jan 1, 1934

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

By AIME AIME

SCRIPTURE, statistics and imagination all were drawn upon by the speakers who acclaimed Daniel C. Jackling as recipient of the William Lawrence Saunders Gold Medal for 1930. The award was made at a special dinner at the Ritz-Carlton, in New York, on Oct. 31. Lafayette Hanchett, old friend and associate, said that if it were his task to compress the life story of Daniel Jackling into a single sentence, he could find noth¬ing so appropriate as these words from the 22nd Chapter of Proverbs, "See'st thou a man diligent in his business, he shall stand before Kings." Mr. Jackling's diligence, according to the speaker, his love for his task, have been outstanding in his career. W. S. Boyd, now ranking official in the Jackling organization, cited amazing statistics as to the quantity of copper supplied to industry by the four "porphyry". coppers that are under Mr. Jackling's immediate direc¬tion, as well as by those that, in a sense, owe their existence to the pioneer work at Utah Copper. In the aggregate- 16,000,000,000 lb. of copper having an approximate value of $2,700,000,000 have been produced from disseminated ores since 1905; and of this total 42 per cent came from Utah and the Nevada group. Newcomb Carlton, president of the Western Union Telegraph Co., long an admirer of Mr. Jackling, adroitly drew a picture of a similar occasion in some 'foreign country. He imagined Mr. Jackling being raised to the peerage and whimsically addressed him as Sir Daniel, the Right Honorable Earl of Bingham!

Jan 1, 1930

By S. F. Shaw

Tars paper is a review of the principal details of cyanide practice in several of the modern plants in America, mainly during the year 1908. Two of the mills, the Goldfield Consolidated and the Vets, Colorado, are not yet prepared to give data, the former having started about Jan. 1, 1909, and the latter not yet being completed. These two mills embody most of the latest methods and are therefore described as far as possible. I. CRUSHING. The principal methods of crushing ores for treatment by the cyanide process are with gyratory and jaw-crushers, stamps, Bryan and Huntington mills, and tube-mills. The first stage is usually done by gyratory or jaw-crushers, in a few cases sup-\

Jul 1, 1909

By PAUL M. Tyier

NOW that analytical chemistry has gone so far to debunk early misconceptions about minerals, the fact that the light of exact knowledge still fails to illuminate many dark corners is often overlooked. By combining the skills of the physicist with those of a chemist, the identification of minerals has become an exact science and the presence of even minute traces of impurities and extraneous elements is readily revealed by spectrographic means, Granted that we can learn all there is to know about the composition of a substance and even about its physical propertied (which latter assumption is somewhat far-reaching) it still does not follow that we clearly understood its commercial designation or utility.

Jan 1, 1941

By A. Lucian Walker

SILVER is not only of paramount importance to millions of people as a medium of savings and to other millions as a medium of exchange, but it is also valuable and useful in industry. Mexico continues to be the largest producer of this metal, followed by the United States, Canada, and Peru. The largest consumers are China and India, which normally absorb about two-thirds of the world's mine production, hoarding it as savings. The imports by these countries exert a powerful influence upon the price, yet neither country is on the silver standard. China having abandoned it in 1935 and India in 1893, when the rupee was definitely linked to the pound sterling. Other nations such as Persia, Ethiopia, Mexico, and many of the South American countries either have been on the silver standard or have used silver as their chief circulating medium, and most large nations use it for subsidiary coins, this use accounting for 20 to 30 million ounces annually. The arts and industries have consumed 35 to 40 million ounces each year.

Jan 1, 1937

By AIME AIME

The first Diesel-electric locomotives for the Mesabi iron range of the Lake Superior district were put into service last summer by the Oliver Iron Mining Co., U. S. Steel subsidiary. There were ten of these locomotives, rated 1000 hp. and weighing 125 tons each. They are designed for service from 16 to 24 hours per day to haul trains of loaded ore cars from open-pit mines, 200 to 400 ft. deep, on a two to eight-mile haul to the top of the pit. The locomotives push or pull the trains over switchbacks and up heavy grades with 5 per cent maximum against the load. High tractive effort, less smoke, and ability to negotiate sharp curves were among the reasons for the selection of Diesel-electric locomotives.

Jan 1, 1941

By Frances H. Clark

IN a concern with the varied interests of the Western Union Telegraph Co., where practically all types of metals, both ferrous and nonferrous, are utilized, many types of failures of materials occur. These have to do not only with outside plant construction, such as corrosion and fatigue of line wire and cable, but also with inside plant equipment operating at such high speeds that rapid deterioration of metal. parts due to fatigue and wear results. Both corrosion and fatigue affect the life of copper wire so its normal life in any particular locality is largely dependent on the atmospheric conditions. Tensions vary widely owing to changes in temperature and ice and wind loadings and the wire is Subject to a great range of vibration caused by wind gusts aril vibration front trains or other heavy vehicles transmitted through the earth. High frequency low-amplitude vibrations are sometimes audible as singing in the wire. The other extreme is the vertical slashing or dancing of the wire observed during severe storms where amplitudes of 9, ft. or more at low frequencies have been observed.

Jan 1, 1942

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By Henry M. Howe

(Cleveland Meeting, October, 1912.) Manuscript received Aug. 20, 1912. PROFESSOR RUFF'S most illuminating paper' describing his extremely valuable investigation of the carbon-iron equilibrium diagram assigns definite temperatures to certain very important lines in the diagram, viz.: the eutectic temperature EB (Fig. 1) and the " near-eutectic " temperature E'B', but without indicating clearly enough the reasoning which warrants these assignments. These temperatures are of such primary importance that it is well to indicate the apparent gaps in the reasoning, in the hope that they may be filled in. In his diagram, Fig. 1, the point X and the lines B'D'HI represent the experimental results reached by Ruff and Goecke; 2 AB, AEB, and SE represent the liquidus, the solidus, and the solubility of the carbon in solid austenite in the absence of graphite according to Gutowsky,3 AB being also in accordance with Spiecker's data;4 ,S'E' the solubility of carbon in solid austenite in the presence of graphite according to Ruer and Iljin; 5 GS the line A3 after Goerens and Meyer;6 I and EBC the true eutectic line as inferred by Prof. Ruff from Gutowsky's data. B'D' is the carbon content found in cast-iron which had apparently saturated itself with carbon in the presence of the graphite of the enclosing graphite crucibles in which the determinations were made. From its straightness and its sharp inflection near 6.67 per cent. of carbon, the carbon content of * Professor of Metallurgy in Columbia University. 1 Metallurgie, vol. viii., pp. 456 to 464 and 497 to 508 (1911). 2 Idem, vol. viii., pp. 417 to 421 (1911). 3 Idem, vol. vi., pp. 731 to 743 (1909). 4 Idem, vol. vi., p. 524 (Wüst) (1909). 5 Idem, vol. viii., pp. 97 to 101 (1911). 6 Idem, vol. vii., pp. 307 to 312 (1910).

Nov 1, 1912

By Kefton H. Teague

This paper deals with the practical application of the Dutch State Mines cyclone separator for fine-coal cleaning. The more important operating variables are discussed, and results of a number of continuous-scale tests on various fine coals with a 6-in. cyclone separator are given. Descriptions of the Cyanamid Pilot Plant and the 50 tph Cyclone Separator Plant at the Emma Washery in Holland are included.

Jan 1, 1950

By A. Thielen

In experiments for the production of steel the principal problem has always been the introduction into, or removal from, the iron of a definite quantity of carbon. Although the solution of this problem had engaged a more or less blindly and empirically directed effort for a long time, it was only with the development of analytical chemistry that the rôle which carbon plays in the constitution of steel was disclosed in its full significance, and that many of the problems confronting the steel-maker were thereby more clearly defined than before. For a long time, and to a certain extent even to this day, the percentage of carbon in steel has been the controlling means of deter mining its quality and hardness. In many cases the percentage of carbon alone has been relied on for judging large consignments, such as the large deliveries of wire-billets and blooms to America during the past twenty years; and though to-day the influences of the other constituents are recognized and many other considerations are taken into account, and though, moreover, some special steels, such as the Hadfield manganese steel, apparently dispense to a certain extent with the assistance of the carbon, yet fix our Bessemer, Thomas, Siemens and crucible steel the carbon still remains one of the most important constituents, and I venture to say it is indispensable. In order to produce in the Bessemer converter a steel of a certain required percentage of carbon, two methods, as is well known, present themselves. By the one the decarburization process is stopped when the desired carbon limit in the bath has been reached ; by the other the bath is completely decarburizecl, and then a calculated amount of carbon added in the form of spiegel, ferro manganese, etc. In Germany the latter method only was adopted, and it was retained when the Thomas-Gilchrist process for the production of low-Phosphorus steel from high-phosphorus iron eame into use, since from the nature of the new process complete decarburization is neces-

Jan 1, 1891