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By A. A. Bakke

"The Fort Knox gold deposit is hosted within the Fort Knox Pluton, a Cretaceous multiphase granitic body that intrudes the Fairbanks schist. Gold occurs along the margins of stockwork veins and veinlets, quartz-filled shear zones, and along fractures within the granite. The mineralization is generally sulphide-poor and closely associated with trace amounts of bismuth, tellurium and to a lesser extent with molybdenum and tungsten. At present, proven/probable reserve estimates, based on a cutoff grade of 0.39 g/t Au, are 158.3 million tonnes grading 0.83 g/t Au.The Fairbanks schist comprises the bulk of the country rock. The dominant lithologies present include muscovite-quartz schist and micaceous quartzite. Immediately north and south of the main orebody, mixed metamorphic lithologies of the Cleary sequence, a subunit of the Fairbanks schist, have been mapped. Development of local zones of weakness, most likely due to a broad regional warping event, resulted in brittle-ductile deformation and activation of a northwest-southeast shear couple between contrasting lithologies.The Fort Knox Pluton consists of at least three phases based primarily on textural differences. Intrusion of a fine-grained granite was followed by a medium-grained porphyritic granite. The youngest intrusive phase is a coarse-grained, seriate porphyritic granite, the Vogt Stock. The Vogt Stock forms an elongate dome with the axis in the east-west direction. Structures displayed in the overlying units, believed to be the result of doming, include tension fiSSUres and longitudinal fractures.Premineralization fractures, the result of the magmatic doming, provided conduits for initial stockwork quartz vein development and quartz enrichment in shear zones. Weak development of vein-controlled phyl/ic, potassic, albitic, and argillic alteration styles are present. Evidence of a late thermal event resulting in a low-temperature alteration assemblage of calcite + zeolite (stilbite) + chalcedony + clay occupies breccia zones, joint surfaces, and fractures within the granite."

Jan 1, 1995

By J. E. Dutrizac

Canada is currently the world's largest supplier of zinc concentrates and is also a major producer of zinc metal. This dominant position in the world's zinc market is a fairly recent circumstance and, in fact, the country's zinc industry was founded only in the early part of the twentieth century. By contrast, the American zinc industry was well established by the mid-nineteenth century, largely based on technology originally imported from the still older European practice. Initial attempts to create a viable Canadian zinc smelter were based on the traditional practice and were unsuccessful; success came only with new electrolytic technology, much of which was developed domestically. The purpose of this paper is to outline the early attempts to produce metallic zinc in Canada and to trace the gradual development of these first efforts into a viable zinc industry based on modern science and technology.

Jan 1, 1999

By Horatio Sam-Aggrey, Margot Hurlbert

Small Modular Reactors (SMRs) have been touted as having the potential to spearhead a nuclear renaissance. Proponents of this view cite the relative advantages of SMRs over larger nuclear plants as reason for their optimism. Some of these merits include potential economies of mass production deriving from modular factory production, enhanced safety features, the ability to locate reactors in remote areas, and reduced requirements for technical workforces to install and maintain SMRs. Despite the optimism surrounding SMRs, nuclear power is still a contentious issue for many Canadians. The growth of nuclear power remains adversely affected by concerns over issues such as: the health and safety consequences of nuclear power generation, environmental impacts, proliferation of nuclear materials, terrorism, and radioactive waste disposal (Organisation for Economic Co-operation and Development (OECD) and Nuclear Energy Agency (NEA), 2010). Personal values, past nuclear accidents, and lack of trust in the industry are other factors influencing attitudes toward nuclear energy (IAEA, 2005). In Canada, three main areas where SMRs could be used have been identified. These include: a. Traditional, on-grid power generation, especially in provinces looking for zero-emissions replacements for CO2-emitting coal plants. B. Remote off grid communities that currently rely on diesel or fuel oil power generation. There are 279 off-grid communities in Canada, many of them being Aboriginal communities (NRCan, ND). Notably, all communities in each of Canada’s three territories qualify as remote. C. Resource extraction sites, such as mining and oil and gas extraction sites. Many of Canada’s principal producing mines and active mineral exploration projects are located within close proximity of Aboriginal communities. Any proposed implementation of small nuclear plants would, require the support of the local population, which is largely Indigenous in the northern regions. The possible deployment of SMRs raises important issue relating to consultation and accommodation of Aboriginal concerns regarding potential SMR deployment. This is especially pertinent given Canada’s pending implementation of the provisions of UNDRIP. One of the provisions of UNDRIP that has attracted a lot of attention is the one on Free Prior and Informed Consent (FPIC). Drawing on previously published information, this paper discusses some of the challenges posed by FPIC for the deployment of SMRs. The next section outlines the provisions of FPIC and its implementation in the Canadian context. Section 3, details some of the challenges posed by FPIC to the deployment of SMRs, while Section 4 provides some concluding comments.

Jan 1, 2020

By John Lamb

"The French Mine (formerly the Oregon) is 4 miles by road south of the Nickel Plate Mine. It lies on the steep eastern slope of the Similkameen River valley at elevation 4,000 feet, between Cahill and Winters Creeks.The property was discovered in .1901 and bought 4 years later by Messrs. French and Deardorf. It was developed in a modest way by the owners and by several companies until 1947, without success. The spectacular showings of bornite and chalcopyrite in the outcrop drew attention to its possibilities for copper rather than gold. Diamond drilling by the owners in 1947 yielded several high-grade gold intersections and created new interest. In 1949 the property was purchased by Kelowna Mines Hedley Limited. Exploration drilling and geological mapping outlined sufficient ore to commence production in 1950. Except for a few months each winter the operation has been continuous, and to the end of 1954 had produced almost 30,000 tons of high grade ore. The ore is crushed at the mine and hauled 8 miles by truck to the Company mill at Hedley, where it is treated together with the ore from Nickel Plate.Regional GeologyThe country rock consists of brown tuff, flows, limestone, and cherty formations belonging to the Nicola group (Rice 1947) of Triassic age. West of and just below the mine is a large mass of granodiorite which is part of the same body that underlies Nickel Plate Mountain. Bedding attitudes in the mine area are locally complicated, but dips are generally less than 45 degrees. To the south and below the mine the beds stand almost vertical, continuing downward with this attitude for 2,000 feet to Winters Creek. The main granodiorite contact is also steep, conforming to the sedimentary formations, whereas northward towards Nickel Plate it dips gently to the northwest, slightly flattter than the thick westerly dipping pile of sediments above it. The interpretation of this structure by Billingsley (1936) is that the French mine lies near the crest of the large northeasterly trending asymmetrical anticline which contains in its gently dipping western limb the Nickel Plate orebodies. The granodiorite body conforming roughly to this shape seems to occupy the core of the anticline. Sill-like prongs of granodiorite extend upward to the east from the main mass, outcropping over wide areas at the head of Winters Creek (Figure 1). There is a possibility that overthrusting from the west, similar to that on Nickel Plate Mountain, occurs not far below the French mine.An interesting feature of the granodiorite-sediment contact is that where it dips gently westward no alteration exists in the sediments, but where it has a steep front pronounced heat effects are indicated by the presence of a thousand-foot-wide zone of reddish garnet skarn."

Jan 1, 1949

By C. V. Corless

THE origin of various types and groups of ore deposits was some years ago a subject of much controversy. To this statement the copper-nickel deposits near Sudbury afforded no exception. Not since the Report of the Ontario Nickel Commission, in 1917, has there been any serious discussion of the origin of this very important group. This may be because, from the opening-up of Murray mine by the British America Nickel Corporation until the recent work at Frood mine, no new ore-body of importance has been developed in the district. The controversy fifteen or twenty years ago between those who favoured the theory of magmatic segregation, among whom Dr. A. P. Coleman was the leading exponent, and those who considered that most, if not all of the Sudbury deposits could more satisfactorily be accounted for by the theory of replacement, will be remembered by many members of the Institute. Perhaps, as too often happens in controversial discussion, each side tended to overemphasize the importance of those geological phenomena which seemed to be most easily accounted for by the theory it favoured. A more balanced view would perhaps admit that replacement was probably predominant in the formation of most of the offset deposits, and magmatic segregation in that of most of the marginal deposits . But there is danger in generalization. Each body of ore should be studied by itself, and no general conclusion of this kind should be allowed to warp the judgment in making such a study.

Jan 1, 1929

By H. F. Zurbrigg

"The Frood-Stobie Mine is by far the largest metal producer in the Sudbury area. Its efficient development was made possible by the consolidation of three mining properties that covered parts of the same ore body. They were known as the Frood Mine, the Frood Extension, and the Stobie Mine.The southwest or Frood portion of the orebody was discovered by Thomas Frood and A. J. Cockburn in 1884. Cockburn's interest was acquired by J. H. Metcalf and W. B. McAllister and patents were issued to Frood, Metcalf, and McAllister in 1884. The property was purchased by the Canadian Copper Company (lnco) in 1886.James Stobie discovered the northeast or Stobie part of the orebody in 1885. In 1886 Stobie and Rinaldo McConnell applied for the location and patent was issued in 1886. They sold the property to the Canadian Copper Company (lnco) the same year.The Frood Extension property included very little of the ore zone at surface but it covered ore down the dip from Frood. Frank Cochrane was granted title to the property in 1908 and sold it to the Mond Nickel Company in 1910. The title was transferred to the International Nickel Company in 1929 at the time of the Inco-Mond merger.Prior to 1930 the three properties produced a total of about 1 ,000,000 tons of ore from mining done during the periods 1887-1903, 1913-1915 and 1925-1929. Since 1929 the Frood-Stobie operation has produced more than 120,000,000 tons of ore, about half from open pits and half from square set and blast hole stoping. The current production rate is in excess of 6,000,000 tons per year.The principal products from the ore are nickel and copper. The by-products are iron ore, cobalt, platinum, palladium, rhodium, ruthenium, iridium, gold, silver, selenium, tellurium, and sulphuric acid."

Jan 1, 1949

By Karla Kaboth, Brad Garraway

"The surface of many concentrate thickeners has traditionally looked like that of a flotation cell. Over the last three years Normandy Golden Grove Concentrator, in partnership with Outokumpu Technology have developed and implemented an innovative breakthrough deaeration technology to address this problem.When installed in the thickener feedline, the system successfully detached air bubbles adhering to the solid particles and removed air bubbles from the feed stream, subsequently presenting a fully deaerated feed to the thickener feedwell.Tests to date have shown an 80% reduction in overflow solids. As a result, costs associated with concentrate loss and measures to recover concentrate that settles in process tanks and ponds have been minimized.MOTIVATIONIt is recognised in mineral processing operations that the entrainment of finely divided air in thickener feeds can cause significant problems in the operation of a thickener. This is particularly the case with thickening of flotation concentrates, in which air bubbles are strongly attached to the mineral particles and are difficult to remove. Such particles attached to fine air bubbles rise to the thickener surface, and hence over the weir and into the thickener overflow. High solids carryover can lead to a direct loss of mineral product, and if the product settles in process water tanks and ponds, the recovery of this product by means of intermittent dredging operations is usually expensive and inconvenient.Many concentrate thickeners are fitted with devices which attempt to alleviate this problem. Froth rings or baffles, skimmers and froth sprays, all play a part in reducing the amount of solids carried over into the overflow. However, many froths are very stable and persist despite these measures. In the worst cases, a thick froth layer forms which builds up to a depth greater than the froth ring, and hence may overflow or pass beneath the ring . Any concentrate that finds its way past the froth ring can also cause blockage of the overflow weir and launder, and has the potential to upset clarification performance by cutting off sections of the overflow handling system. The formation of a froth layer on the thickener also makes it more difficult for the operator to monitor the clarification performance."

Jan 1, 2001

By A. R. Miller, G. Desrivières, M. C. Bétournay, D. L. Barnes, P. Laliberté

"Over the last four years, an international initiative, championed by Vehicle Projects LLC, the Fuelcell Propulsion Institute and Natural Resources Canada, has been active in carrying out research projects to prove out the concept of applying fuel cell technology to underground mining vehicles. These have been carried out by a consortium consisting of mining companies, equipment manufacturers, technology developers, national laboratories and consultants, with the participation of Canadian and U.S. mine regulatory agencies.This clean technology, which produces only water and electricity, would allow several advantages to be obtained, in the health area (by eliminating diesel emissions and reducing noise generation), in lowering production costs (such as reducing ventilation required) and lowering greenhouse gas emissions.This paper outlines the results obtained in several key areas, such as, the operation of fuel cells in underground conditions, risk issues related to underground and surface operation of hydrogen vehicles and hydrogen production and delivery systems, and the design and mining performance of the world’s first hydrogen mining vehicle, a mine production locomotive. The work to date on the fuel cell loader, designing the power plant and power transmission systems, operational requirements, and operating cost reductions is also presented."

Jan 1, 2003

By Joseph Daniels

When Dame Nature shook her horn of plenty and distributed her bounties over the face of the earth, she blessed the Pacific coast with many riches, but with these she added many offsetting disadvantages or handicaps, designed, no doubt, to effect a proper balance between wealth and economy. Nowhere is the application of the law of compensation more aptly illustrated than in the matter of fuel and power resources. A glance at the map of the Pacific northwest will show that west of the Coast Range batholith we are bounteously supplied with coal, with timber, with water power, and with tributary resources of oil from California. Alaska, British Columbia, Washington, all contain large resources of coal; Oregon and California to a lesser degree, but, compensating the golden state for its deficiency in this respect, oil was placed in the treasure ,chest. Timber, of wide variety and in lavish quantity, covers the forests from tidewater to mountain slope, and within this protected watershed area flow streams which give the Pacific coast states the largest single share of the potential water-power resources of the country. Something over 40 per cent. of the total estimated horsepower of the United States is to be found in the Pacific states, and British Columbia has 15 per cent. of the total for Canada; but of this total less than 10 per cent. has been developed.

Jan 1, 1924

By W. A. Lang

Introduction Under our present civilization, industrial developments will be greatest in those areas in which energy .can be most economically produced and efficiently used, where labour is in adequate supply, and where markets for the products of industry are available. A knowledge of fuels- the present major sources of energy- and of their utilization is therefore of vital importance. With that in mind, the aim in this paper will be to outline the known reserves of fuels in Alberta, to give their characteristics, to indicate the markets served by each, and to offer some suggestions for the future development of the coal industry. The paper should be regarded as a compilation of published data rather than as an original treatise. Alberta is richly blessed by having large reserves of mineral fuels. The estimated reserves of coal are 46,562 million tons. Alberta is the oil and gas province of Canada. The world's largest deposit of bituminous sand occurs along the Athabaska river in Alberta. In addition, there are large areas of forested land in the northern and western sections of the Province, and the rivers serve for the development of hydro-power.

Jan 1, 1949

By Marc C. Bétournay

Over the last four years, an international initiative, championed by Vehicle Projects LLC, the Fuelcell Propulsion Institute and Natural Resources Canada, has been active in carrying out research projects to prove out the concept of applying fuelcell technology to underground mining vehicles. These have been carried out by a consortium consisting of mining companies, equipment manufacturers, technology developers, national laboratories and consultants, with the participation of Canadian and U.S. mine regulatory agencies. This clean technology, which produces only water and electricity, would allow several advantages to be obtained, in the health area (by eliminating diesel emissions and reducing noise generation), in lowering production costs (such as reducing ventilation required) and lowering green house gas emissions. This article outlines the results obtained in several key areas, such as the operation of fuelcells in underground conditions, risk issues related to underground and surface operation of hydrogen vehicles and hydrogen production and delivery systems, and the design and mining performance of the world?s first hydrogen mining vehicle, a mine production locomotive. The work to date on the fuelcell loader, designing the power plant and power transmission systems, operational requirements, and operating cost reductions, is also presented. There is also an evaluation of the overall mining applications and advantages this technology can bring to underground mining, including the facilitation of automation and tele-remote operation.

May 1, 2003

By C. R. Whittemore

Introduction The technical library in the service of industry is gradually becoming a well recognized and important part of all progressive industrial organizations. The larger mining, metallurgical, and chemical firms of Canada are establishing extensive reference libraries in connection with their research and operating departments in order that the members of the organization may keep abreast of the rapidly developing fields of engineering in which they are interested. It is the purpose of this paper to point out the usefulness of such a department in any industrial organization, to give a general outline of a system for filing and dispensing information, and to outline briefly the literature to be consulted and the procedure to be adopted in instigating a literature search. The technical library falls under the classification known as 'Special Libraries', and is quite different from the general library in that it is a storehouse of facts and owes its value to the ready presentation of information required for each specific case, and in a form most ready for use. The library brings all the available information relative to the interests of the corporation from without the plant to the organization within, and also keep in touch with each department of the organization.

Jan 1, 1930

By E. A. Brown

"IntroductionBACK IN THE nineteen-thirties, when Eldorado was a private company and was preparing to become Canada's first radium producer, the Mines Branch in Ottawa did much work on the development of chemical processes for the Port Hope refinery (1).In 1945, after the Canadian Government had taken over Eldorado for •atomic energy reasons, the Mines Branch was called upon again, this time to help out by looking into ways and means of improving ore treatment methods for the mine at Great Bear Lake. A group of technical men was assembled to devote full attention to this work, which was known as the Eldorado Project.Three years later, in 1948, the Government decided to reopen the development and operation of uranium properties to private enterprise.Since it is a function of the Mines Branch to assisit private development of Canadian mineral resources, this new uranium policy made it important for the Branch to be in a position where it could provide up-to-date services, technical assistance, and information relating to treatment of radioactive ores, mineralogy of radioactive ores, and assay methods for radioactive ores.At the same time, .because of the demand for increased uranium production, lower grade ores had definitely come into the picture, ores that might be of decidedly lower grade than, say, Eldorado pitchblende, and of entirely different nature."

Jan 1, 1953

By R. C. Rowe

THIS paper is an endeavour to analyse the ideal and practical functions of government technical mining services, and their relationship to the National Domain, as well as to one another. its spirit is not critical, even though at times it may appear to besoin fact. It is a serious effort to divert a trend in public thought which delights in calling itself practical whereas it is really merely short-sighted. The author refers particularly to the idea that governmental research is a luxury which should be curtailed in the interests of economy, and turned over to private enterprise or the provinces. In order that we obtain the proper perspective of the question, it is advisable to indulge in a little history. In the year 1842, the Geological Survey of Canada was formed under the guidance of William (later Sir William) Edmund Logan. The literature on the founding and history of the Geological Survey of Canada is extensive, and therefore it is unnecessary to go into detail here regarding it. It might be mentioned, however, that the Geological Survey of Canada is only seven years younger than the Geological Survey of Great Britain (founded in 1835), and is only exceeded in age on the American continent by the State Geological Surveys of New York, Pennsylvania, Massachusetts, and Michigan, which were founded between 1833 and 1836. In 1877, the Geological Survey became a permanent government institution as a branch of the Department of the Interior. It should be noted, however, that the Director of the Survey ranked as a Deputy Minister and reported direct to the Minister. This continued until 1907. In 1886, the Mineral Resources and Statistics Division of the Geological Survey was formed. Some years later, the Canadian Institute of Mining and Metallurgy (then the Canadian Mining Institute), backed by the mining press, began to agitate for the establishment of a Dominion Department of Mines, and in 1907 such a department was founded by the Geology and Mines Act of that year, with a separate Cabinet portfolio for the position of Minister of Mines.

Jan 1, 1939

By R. C. Rowe

DR. W. F. GRAY (Contributed discussion, presented at meeting by Mr. S. C. Mifilen): Mr. Rowe's suggestion that the Institute should organize itself to interpret the needs of the mining industry to federal and provincial mines departments should commend itself to our membership as sensible and practical, and as one which these public administrative bodies may welcome. One has to start with the premise that those who head the departments of mines in question have the welfare of the industry at heart. Also, it must be postulated that the technical viewpoint of our membership is necessarily free of political considerations. With these reservations, one ventures to state that both Mr. Rowe in his communication to the present session of the Institute, and Professor M. Y. Williams in his earlier communication to the Western Meeting, on The Geological Survey and Mining Development (1), voice the regret general among our membership at the abandonment of the honoured name, and to some extent of the status, of the Geological Survey of Canada. The writer, in 1932, devoted his Presidential Address to the Institute to an appreciation of the value to Canadian mining of the Geological Survey of Canada (2), affirming the desire of the Institute "that the work of the Survey shall be maintained at the highest pitch of efficiency the resources of our country will permit, because, to scrimp expenses on the Survey, is 'to save at the spigot and lose at the bunghole'." He believes that is still the opinion of the Institute, and, if contraction of the usefulness of the Survey is feared by our members at this time, it is incumbent upon the Institute, in fairness to those who direct our government, to say so in precise and explicit terms. Mr. Rowe puts the situation pithily when he writes: "We have reached a stage in our development where a stock-taking and co-ordination of existing knowledge and data is essential. This is a part of that basic function of Dominion mineral technical services which is national and not provincial in its scope".

Jan 1, 1939

"In mineral exploration and mining applications, it is sometimes necessary to reduce sampling error in order to improve representivity of individual sample assays. Historic efforts to reduce sampling error have relied on the belief that larger samples exhibit less sampling error. Justifications for this belief traditionally have coupled the binomial theorem with an ideal geological material consisting of ore and gangue particles of equal size and shape (an equant grain model) and empirical tests of geological materials, to illustrate an inverse relationship between sample size and sampling variance. To date, no proof exists of this sample size-sampling variance relationship in real geological materials exhibiting variations in grain size, shape, composition, and degree of liberation.Using first principles calculus and the formula for the mean, sample mass and sampling variance are proven to be inversely proportional in all geological materials. Distribution assumptions and physically ideal geological models are not used in this proof. Furthermore, algebraic manipulations of expressions describing the variances of equant grain models consistent with binomial, hypergeometric, and Poisson distributions reveal that these models also exhibit an inverse sample size-sampling variance relationship. Thus, the sampling behaviors of these models are numerically consistent with the sampling behaviors of real geological materials, and these models can be used to estimate sampling errors in real geological materials using simple sampling parameters."

Jan 1, 2007

By Peter Cunningham

Teck Facts and Figures ? Employ more than 14,000 around the world, includes: ? Over 8,600 in Canada (close to 7,800 in British Columbia) ? Close to 2,000 in Chile ? Over 2,700 in Peru ? Approximately 600 in U.S. ? Hundreds more in exploration around the world ? Total capital expenditures ? $1.8 billion for 2012

Aug 1, 2013

By T. W. Sullivan

"This paper explores the history of AC static variable frequency control drive systems on open cast mining machinery, in particular electric mining shovels and electric walking draglines, over the past ten years. It critiques the peformance of these drive systems from a productivity and operating cost standpoint and evaluates the over-all success of the original design concepts as they were envisaged in the 1970s. The paper details the state-of-the-art as it exists today as well as design improvements contemplated for the immediate future.IntroductionConsidering the fact that the very first successful application of an alternating current electrical distribution system occurred at the Gold King gold mine near Ames, Colorado, U.S.A., in the year 1891, it seems somewhat ironic that almost 100 years later, AC excavator drive systems are just now becoming commonplace in the mining industry.If one were to read the biography of Lucien L. Nunn, the first person to successfully install a commercially viable alternating current power distribution system, one would quickly visualize a parallelism between his fight to achieve acceptance of his new lower cost technology and that of those commissioned with the belief that AC static variable frequency control drive systems are not only a better performing, lower cost drive system for mining excavators today, but moreover, the drive systems of the future in our industry.This paper will deal with the evolution and incorporation of AC static drive systems on open cast mining excavators. It will trace the history of the development of these drive systems in the mining industry, the current state-of-the-art concerning these systems, and what the future holds for these excavators in our industry."

Jan 1, 1990

By W. M. Armstrong

This paper compares research on development efforts in various countries, consideration being given to gross expenditures, manpower involved, source of funds, sector of performance and type of activity. The Canadian R & D activity is then reviewed, particularly as applied to the industrial sector, the problems of applied research in Canada are discussed and some remedies are suggested.

Jan 1, 1968

By Charles Camsell

At the Annual General Meeting of the Institute in 1924. I endeavoured to present the position held by the mineral industries in the commercial life of this country. The facts and figures were presented at that time in a detached way. Since then, however, I have made some attempt to analyze them in order to determine the causes for that position and to draw some conclusions as to the future of the mining industry. As everyone knows, our trade figures are very often used in political discussion, especially in discussion of tariff policy. It would be entirely out of order for me to say anything touching the tariff issue and I want to have it clearly understood that, in my opinion, the material I am about to present contains not a single statement or conclusion which anyone would be warranted in using as an argument for either a lower or a higher tariff or for tariff changes of any kind. As a starting point, let me re-state, very sketchily, Canada's general situation in external trade. In the last calendar year, 1924, we sold Canadian merchandise of all kinds to other countries to the value of $1,045,000,000 in round figures. Our purchases abroad reached about $893,000,000. Thus our sales exceeded our purchases by roughly $152,000,000. In other words, we had what is known as a 'favourable balance of trade' - one of the biggest favourable balances we have ever had in our history. The proceeds of our sales of Canadian products enabled us to meet the bills for all our purchases of foreign commodities and, in addition, placed a large surplus to our credit with which to offset our interest charges and other obligations abroad.

Jan 1, 1925