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On Feb. 16, 1948, the Board of Directors of AIME authorized the publishing of "Technical Notes" in METALS TECHNOLOGY. The purpose is to provide prompt publication of very short items of the following general types: I. Results of short investigations which do not warrant a paper. 2. The conclusions of extensive investigations of insufficient general interest to justify a regular paper. 3. Conclusions arising in the course of an investigation, which, because of interest to others in the field, the author wishes to present prior to completion of the investigation. 4. Pertinent factual comment (not mere argument) on the subject matter of previous "Notes." Such Notes will be subject to the approval of the Auxiliary and AIME Publications Committees, but can be handled more promptly than regular papers because they need not be referred to readers. The recommended maximum length is 500 words; notes in excess of 1,000 words will not be considered for this type of publication. A graph or photograph may be included as part of the note when particularly illustrative. As with regular papers, contributions to the new section should be submitted to the Secretarv of the AIME. Please furnish two copies, each complete with illustrations.

Jan 1, 1948

By John V. Beall

W hen the blasts went off on West 11th St., just off 5th Ave. in New York City, James Michaels, editor of Forbes magazine, was in his office a few doors away reviewing color layouts with his production manager. Having once been a reporter, he grabbed his trench coat and dashed for the street to be con- fronted by the demolished townhouse which had been turned into a bomb factory by youths. To Michaels, this shocking episode supplied the exclamation point to thoughts he was formulating that an era had ended and a new one was beginning in the economic and social climate of the U. S. "For twenty years corporate profits, the stock market, middle income pay have gone up and up. . . The illusions of twenty years are in confrontation today with changed needs," he said. "International omnipotence is economically beyond our means, . . The anti-pollution and community renewal people are not nuts in tennis shoes who will go away. . . That corporation presidents can report an increase in earnings every year is an illusion that will be dropped. . . There has been a $200 billion shrink in value of stocks and bonds since Nixon came into office" were some indicators Michaels mentioned.

Jan 1, 1970

By Maximo Monte-Flores

A PERUSAL of the most recent literature on the subject of hydrocarbons reveals that one point seems, to have been neglected by the various theories; that is, the influence of the bed-rock on the accumulation and distribution of oil and gas. This can be seen from the following statement of the principles of the most accepted theories. ANTICLINAL THEORY The anticlinal theory claims that the accumulation of the hydro-carbons in deposits of commercial importance was brought about by the gravity of the hydrocarbons, the oil and gas being forced to the top of the porous stratum by the difference of the specific gravity of the hydro-carbons and the water. The principal factors toward the accumulation were the general stratigraphic condition of the rocks, their texture and porosity, and their water content. This theory advocated the preexistence of structural deformation as the basis of the motion of gravity, thus implying the principle that the forces that have caused the deformation have had no influence on the movement of the hydrocarbons. STRUCTURAL THEORY According to the structural theory, the accumulation is due, chiefly, to the structure of the subsurface rocks and differs from the anticlinal theory, mainly, in not considering that the motion of the liquids have been caused by the force of gravity.

Jan 1, 1920

IN presenting the medalist, Scott Turner, director of 'the Bureau of Mines, said in part: "Mr. Blaylock is a Canadian by birth, training, ex-perience and preference. He was born in the Province of Quebec, graduated from McGill University in 1899, and immediately thereafter became an employee of the company for which he is now general manager. His outstanding achievements have been the acquisition for his company of the Sullivan mine, and the organization of a metallurgical staff, which, under his leadership and personal direction, solved the difficult problems pre-sented by the extraordinarily complex lead-zinc-silver ores of the Sullivan mine. "By title only, I will suggest to you the high lights of his career: (1) Development, of the great mine at Kimberley, and a huge plant at Trail. (2) Discovery and application of a successful differential flotation process for Sullivan ore which had previously not re-sponded to any process. (3) Improvements in lead-blast-furnace and refinery practice. (4) Development of an electrolytic process for treatment of zinc concen-trates. (5) Development of an electric-furnace-smelt-ing-method for zinc-plant residues. Besides this, we recognize his great organizing ability, his gift of leader-ship, and the cooperative spirit he always displayed.

Jan 3, 1928

On Feb. 16, 1948, the Board of Directors of AIME authorized the publishing of "Technical Notes" in METALS TECHNOLOGY. The purpose is to provide prompt publication of very short items of the following general types: I. Results of short investigations which do not warrant a paper. 2. The conclusions of extensive investigations of insufficient general interest to justify a regular paper. 3. Conclusions arising in the course of an investigation, which, because of interest to others in the field, the author wishes to present prior to completion of the investigation. 4. Pertinent factual comment (not mere argument) on the subject matter of previous "Notes." Such Notes will be subject to the approval of the Auxiliary and AIME Publications Committees, but can be handled more promptly than regular papers because they need not be referred to readers. The recommended maxi- mum length is 500 words; notes in excess of 1,000 words will not be considered for this type of publication. A graph or photograph may be included as part of the note when particularly illustrative. As with regular papers, contributions to the new section should be submitted to the Secretary of the AIME. Please furnish two copies each complete with illustrations.

Jan 1, 1948

W ho holds title to the continental shelf? As submarine mineral ventures move out into deeper and deeper waters, the dispute over this question is bubbling up with greater and greater urgency. Basically, the forces of disagreement are lined up on two fronts--one nationalist and the other internationalist. The nationalists, or "broad shelf" proponents, view the shelf as a geologic extension of the coastal nations and therefore subject to the sovereignty of these nations. The internationalists or "narrow shelf" proponents, seek to circumscribe the jurisdiction of the coastal nations by a topographic line beyond which all rights would be reserved to an international regime. In the U.S. public sector, three groups----the American Bar Association and International Law Association committees and the National Petroleum Council (NPC) - have taken a stand on the broad shelf. These are joined by AIME, which has consolidated its position in a "Policy Statement on the Outer Limit of National Sovereignty Over Seabed Resources." This statement was adopted by the AIME Board of Directors last October 15 after its submission by Earl Cook, Chairman of the AIME National Affairs Committee, at the behest of the Society of Petroleum Engineers. The main organization holding to the narrow shelf is the Commission on Marine Science, Engineering and Resources.

Jan 1, 1970

By David Baker

In a paper presented to the American Institute of Mining Engineers, September, 1904, entitled uImprovements in the Mechanical Charging of the Modern Blast-Furnace,"' I showed the great fault of mechanical charging-devices to be that the materials charged by the dumping of the skip were separated, the coarse materials having high velocity, and the fine, low— thus giving paths of low resistance through the stock in the furnace, which resulted in unequal distribution of the furnace-gases, unequal reduction, slips, scaffolds, irregular cutting of the inwall, "of" iron, and increased fuel-consumption. I showed how this could be prevented by rotary distribution, through which the irregular distribution in one layer charged is compensated by charging the subsequent layers from succeesively varied positions of the charger, and becomes practically eliminated when the angle between two successive positions is a little more or less than an even fraction of a full circle. Of all the devices then on the market, the nearest approach to the ideal arrangement was found in the Brown distributor, a full description of which was given. The one defect pointed out, however, was the difficulty of maintaining so much mechanism on the top of a blast-furnace. Since the presentation of that paper, I have designed a very

Jan 1, 1907

James Gayley, Braddock, Pa. (communication to the Secretary) : Mr. Potter has made reference to our practice at the Edgar Thomson works in the direction of increasing the life of the lining, and mentions the product of one of our furnaces as having reached a total of 370,000 tons. It may be interesting to know that this furnace has been put out of blast with a record of 452,685 tons, after a run of three years and nine months. A companion-furnace to this will produce, hefore the present year is ended, half a million tons. As Mr. Potter has quite correctly designated this as " the newest problem in furnace-practice," a description of the construction of this furnace lining may be Welcome to members. The bricks used in the lining are 9 and 134 inches long, with the requisite quantity of straight and key-shapes to turn the circle. There bricks are well suited for enclosing the numerous bosh-plates used for cooling. The bosh-plates (the efficient fortress of the lining) extend from the top of the tuyere arch to the mantel, and are inserted in rows, 18 inches to 2 feet apart. These form a perfect defence against encroachment on the bosh-lining, and leave the bosh at the end of the blast of the same thickness as at the beginning. The protection afforded by these bosh plates is the principal cause of the increased duration of the furnace-lining. But it must be noted that the shape and material of the plate are essential elements. The most serviceable plate is that made of bronze or copper. We have tried every form of iron plates without obtaining satisfactory results. These were replaced with bronze plates, built into the lining, which gave excellent results so long as they did not leak; but when this occurred, as it did in time, the water was shut off, and, since the plates could only be removed with difficulty, they were allowed to burn off. This permitted encroachment on the bosh-walls, which thus became enlarged beyond the limit required for economical practice. With the introduction of the removable plate, made tapering on the sides, with plain surfaced top and bottom, these troubles have

Jan 1, 1895

By Paul Billingsley

WHEN I was an undergraduate at the Columbia School of Mines, the mining curriculum was subdivided into two major branches's known respectively as the Metallurgical and the Geological Options, which diverged rather widely as the course progressed. When I duly elected the Geological Option, I believed, I am sure, that this divergence would continue throughout the years. The facts have proved otherwise. The mining industry is a closely knit entity in which the search for its raw materials, called mining geology, cannot be separated from the conversion of these raw materials into marketable form, called metallurgy. The mining geologist searches for materials which the metallurgist can utilize, and only such; and whenever an advance in metallurgy opens the gates for new materials, the geologist's problem is correspondingly modified. No better instance of this relationship can be given than that seen in the Salt Lake region in recent years. Our mineral industry here is of long standing. The three principal tributary districts, Bingham, Park City and Tintic, were discovered in the 1860's and have been vigorously and intelligently developed for many decades. Their production has made the Salt Lake valley one of the world's great smelting centers. The maintenance of this industry has for years depended upon the continual development of new orebodies to take the place of those being extracted. Intensive exploration in the old districts has been supplemented by prospecting in outlying districts of lesser prominence. . Many new orebodies have been discovered, such as those of the Daly West, Silver King, and Judge mines in Park City, the Utah Apex in Bingham, and the Sioux, Colorado Chief Consolidated and Tintic Standard in Tintic. New mines in other districts have been discovered also, but without affecting the dominance of the three major districts. In all cases discoveries, to be of value, had to be of ore amenable to treatment in the available metallurgical plants. This meant that, for the most part, zincy ores, both oxide and sulfide, must remain untouched, and also that ores high in iron and ores high in silica had a fictitious value, either high or low, set by the balance of these

Jan 1, 1928

By Paul Billingsley

When I was an undergraduate at the Columbia School of Mines, the mining curriculum was subdivided into two major branches's known respectively as the Metallurgical and the Geological Options, which diverged rather widely as the course progressed. When I duly elected the Geological Option, I believed, I am sure, that this divergence would continue throughout the years. The facts have proved otherwise. The mining industry is a closely knit entity in which the search for its raw matcrials, called mining geology, cannot be separated from the conversion of these raw materials into marketable form, called metallurgy. The mining geologist searches for materials which the metallurgist can utilize, and only such; and whenever an advance in metallurgy opens the gates for new matcrials, the geologist's problem is correspondingly modified. No better instance of this relationship can be given than that seen in the Salt Lake region in recent years. Our mineral industry here is of long standing. The three principal tributary districts, Bingham, Park City and Tintic, were discovered in the 1860's and have been vigorously and intelligently developed for many decades. Their production has made the Salt Lake valley one of the world's great smelting centers. The maintenance of this industry has for years depended upon the continual development of new orebodies to take the place of those being extracted. Intensive exploration in the old districts has been supplemented by prospecting in outlying districts of lesser prominence. Many new orebodies have been discovered, such as those of the Daly West, Silver King, and Judge mines in Park City, the Utah Apex in Bingham, and the Sioux, Colorado Chief Consolidated and Tintic Standard in Tintic. New mines in other districts have been discovered also, but without affecting the dominánce of the three major districts. In all cases discoveries, to be of value, had to be of ore amenable to treatment in the available metallurgical plants. This meant that, for the most part, zincy ores, both oxide and sulfide, must remain untouched, and also that ores high in iron and ores high in silica had a fictitious value, either high or low, set by the balance of these

Jan 1, 1928

By P. Barnes

It may he of interest, and perhaps of inzportance, to the members of the Institute that specific mention should be made in detail of the great value of this method of copying or photographing all kinds of tracings." Several samples are laid upon the table which may serve as illustrations of the results obtained. Some of these show slight imperfections, depending upon the character of the tracing, and upon the length of the exposure to the light, but it may be clearly seen that even a faint copy would be quite available for actual use. The process is believed to be of French origin, and has been used for many years. Special attention seems to have been directed to it recently, and its great value to engineers appears likely to be fully recognized. The manipulations required are of the simplest possible kind, and are entirely within the skill and comprehension of any office boy who can be trusted to copy a letter in an ordinary press. These particulars may be summarized somewhat thus: 1. Provide a flat board as large as the tracing which is to be copied. 2. Lay on this hoard two or three thicknesses of common blanket, or its equivalent, to give a slightly yielding backing for the paper. 3. Lay on the blanket the prepared paper with the sensitive side uppermost. 4. Lay on this paper the tracing, smoothing it out as perfectly as possible so as to insure a perfect contact with the paper. 5. Lay on the tracing a plate of clear glass, which should be heavy enough to press the tracing close down upon the paper. Ordinary plate-glass of 3/8" thickness is quite sufficient. 6. Expose the whole to a clear sunlight, by pushing it out on a shelf from an ordinary window, or in any other convenient way, for six to ten minutes. If a clear skylight only can be had, the exposure must be continued for thirty or forty-five minutes, and under a cloudy sky, sixty to ninety minutes may be needed.

Jan 1, 1879

The pattern of the coal industry west of the Mississippi River, so far as its history is concerned, is entirely different from that to the east of the "Father of Waters." When the Louisiana Purchase was consummated, one of Jefferson's first thoughts was to ascertain what sort of a country had been purchased, and to that end he sent Lewis and Clark to ascend the Missouri River and to reach the Pacific Ocean if possible, but above all to bring back a report showing the character of the country, its mineral and other resources, inhabitants, etc. This first expedition was supplemented by others to various parts of the vast domain for the same purpose; years later, when transportation routes were necessary to hold and develop the western country, a number of expeditions were sent to explore possible routes for railroads. The records of nearly all of these explorers, as will be shown later, contain references to coal in many localities, the possible value of which was realized but its potential value remained dormant for many years until increasing population and methods of transport made markets available. Missouri was the first state west of the Mississippi in which coal was produced and the names of a number of places show that the French were familiar with the coal deposits there. Lewis and Clark, soon after they left St. Louis, passed "a remarkable Coal Hill on the Larboard Side, called by the French Carbonere, this hill appeares to Contain great quantity of Coal."1 This hill was about seven miles below St. Charles. No other outcrops were seen by them until they had passed the present limits of the state. The Louisiana Gazette of April 9, 1805 contained an article on "The Missouri," author not stated, which said, "the short stay we have generally made among the savage nations has prevented us from making those researches, which would have supplied us with a more extensive information respecting the various mines found on the borders of the Missouri; we know with certainty only those of iron, lead and coal." In 1806 Pike passed through Missouri on his tour to Mexico. On August 17th, along the Osage River he remarked, "here the river-bank is

Jan 1, 1942

By William Vietti

WEST TEXAS and New Mexico has been overshadowed by the develop-ment in East Texas to such an extent that the area has been placed on a settled production basis by most of the operators. Considerable develop-ment work on both proven and unproven acreage remains to be carried on, but the incentive, a ready and profitable market, has been lacking. The main characteristics of the fields in this area are so well known that they are not described again in this paper, which thus resolves itself into a statistical review of the more important production features of the area. Proration has been in effect during the year and has been rigorously applied with the full cooperation of all producers. Proration in West Texas and New Mexico is based in the more pro-ductive fields on a potential and acreage distrbution of the allowance to the individual wells or acreage units. Potentials are determined generally by a short production test of from 1 to 4 hr.; and the hourly rate is multiplied by 24 to obtain the 24-hr. production or rated potential of the separate wells. The potential values thus set up have been questioned by many production men who are not willing to concede that the instantaneous (hourly) capacity of a well to produce is its potential capacity for a day with all other wells in the pool producing at their capacity. However, the potential of a well determined as above remains its chief rating as a measure of the permeability in place and as an indication of the possible reserve feeding that well. , The acreage factor has made it unnecessary to overdevelop properties in order to obtain an allowance proportionate to neighbors who are willing to drill an excessive number of wells on a piece of acreage in the hopes of a quick drainage and a corresponding profit. Proration has resulted in an orderly development of many of the pools in this area on the base as out-lined above, resulting in more reasonable spacing of wells and the more even withdrawal of oil and the ensuing expectation of high recoveries.

Jan 1, 1933

THE great event in American affairs was the sudden death of President Harding, on Aug. 2, in San Francisco. A few hours later Vice-Presi¬ dent Coolidge took the oath of office while in his father's farmhouse in Vermont and forthwith proceeded to Washington as the 30th president of the United States. The French and Belgian governments' replied to the British refusing the proposed discussion of the German offer and declaring that they would pursue their policy in the Ruhr until the German government abandoned its resistance and surrendered unconditionally. The economic collapse of Germany .appears to be nigh. Chancellor Cuno and his cabinet resigned the govern-ment of Germany on August 12, and Gustav Strese-mann, head of the People's party, accepted the task of forming a four-party coalition government. Coinci-dentally, there were food riots throughout Germany, and many persons were killed and wounded. The , National Assembly of the Turks at Angora ratified the Lausanne treaty, in the latter part of August, whereupon the retirement of the military forces of the Allies from Constantinople and the Straits began. Thus, Turkey was fully reinstated as a European power. The Greek government also ratified the Lausanne treaty and commenced to put its army on a peace basis. The number of unemployed persons in Great Britain is again increasing, which is causing much concern. The flood of crude oil and gasoline, which is severely taxing storage capacity, had its natural economic effect. Some small refiners were constrained to liqui-date in distress. The Governor of North Dakota, having acquired a supply of such cheap gasoline, insti-tuted a drastic cut in price, deliberately egging on the big refiners to do likewise. The Standard Oil Co. of Indiana accepted the challenge with enthusiasm, say-ing that it had always been its policy to sell as cheaply as any competitor. There was a humor in this situation which paved the way for the Standard to extinguish its small competitors and do by invitation of the State exactly what the muck-rakers had always charged as its greatest crime. The gasoline war spread to other states and reductions in price were made even on the seaboards. All of this was purely economic.

Jan 8, 1923

By Rodney P. Smith

THE solubility of columbium nitride in ? iron has been determined for the temperature range 1191o to 1336°C from the nitrogen content and metallogra-phic examination of a series of Fe-Nb alloys.* (0.0 to 0.92 pct Nb) equilibrated with a purified gas mixture of 1 pct hydrogen in nitrogen. The method is the same as that used by Darken, Smith, and Filer' to determine the solubility of aluminum nitride in y iron. The variation in the furnace temperature during an equilibration period was about ± 2.0°C. Each sample was approximately 1/2 in. wide, 2 in. long, and 1/16 in. thick. A time series at 1200°C using samples of highest columbium content indicated that one day was sufficient for equilibrium; however, to be on the safe side all samples were left in the furnace for either two or three days. Afterequilibration, the samples were brought to room temperature by quenching in water. The experimental results are shown in Fig. 1. To be in accord with the values reported by Wriedt and Gonzalez2 and the temperature coefficient of our results at higher temperatures, the nitrogen content of iron at 1191oC is assumed to be slightly lower than our experimental value. Our data for the single-phase regions are not sufficiently accurate to establish an interaction coefficient for nitrogen in these alloys. However, the change in nitrogen content with change in alloy content for a number of systems (Fe-N-A1;3,1 Fe-N-Ni;372 Fe-N-Si.3949 Fe-N-V;3,5 Fe-N-Cr;3,6 Fe-N-Mo3,7) has practically the same value for the liquid alloy at a temperature near 1600°C as for the solid alloy at temperatures near 1200oC when the alloy content is below a few percent. On this basis the lines through the single-phase regions have been drawn with a slope corresponding to an increase in nitrogen of 0.0013 pct per 0.1 pct Nb.3 The straight lines through the two-phase regions were drawn with a slope corresponding to a one-to-one atom ratio of nitrogen to columbium in the nitride. The X-ray

Jan 1, 1962

.MAX ROESLER, Firmeza, Oriente, Cuba (communication to the Secretary?).-It is substantially admitted by all who have recently been in touch with these deposits that the orebodies lie in the fine-grained dark-green rocks, called diorite by most writers and diabasic by myself. The three points of disagreement concern the agency of included limestone blocks as causes of deposition, the agency of the

Jan 5, 1917

The Institute is desirous of securing the photographs of Adolph Patera and Albert Serlo, two deceased honorary members of the Institute. All resources within the ken of the Secretary have been tried out to secure these photographs without avail. If any, of our members can give us suggestions which will lead to the accomplishment of the desired ends, such suggestions will be much appreciated.

Jan 5, 1919

By V. F. Parry, E. O. Wagner

This paper summarizes investigations during 1949 on three pilot plants for drying low-rank fine coal by entrapment in hot gases. Detailed operating results on processing seven coals having moisture ranging from 24 to 62 pet, formulas and data for calculating performance of large units, and general conclusions on the problem of drying fine coal are presented. THIS paper presents a summary of investigations by the Coal Branch of the Bureau of Mines during 1949 on the removal of internal moisture from low-rank coals by processing them in the entrained and fluidized state. A paper on this subject, giving a summary of the early work, was presented at the 1949 AIME annual meeting1 and gave a the- oretical discussion of the time and heat required to dry various sizes of low-rank coal. The investigations on two pilot plants were presented in the foregoing paper. During 1949, three additional pilot plants were built to study phases of the drying problem and to investigate different techniques of handling fine coal in the entrained and fluidized state. The present paper gives operating data on the new units and presents detailed data on the drying of seven coals having bed moisture ranging from 62 to 24 pct. The problem of removing surface moisture from fine coal is principally one of heat exchange and dispersion of the coal particles so that heat can reach the liquid moisture to permit evaporation, and it does not involve the factors of size and time of contact to any great extent. If enough heat can reach the surface of the particles at temperatures higher than 250°F, moisture evaporates almost instantly, and the factors of time and size are of secondary importance compared with the factors of heat balance and dispersion of the coal. Therefore, it does not appear to be necessary to employ a fluidized bed when removing surface moisture, and the most efficient process would be one in which the coal particles are entrained in a hot gas stream of optimum temperature traveling at a velocity that causes the particles to disperse into a low-density phase. When low-rank coals are dried, the fluidized bed is necessary to provide control of time of contact. This is done by adjusting the superficial velocity which controls the density or dispersion of the particles. The density of beds having fluidized properties suitable for drying low-rank coals appears to range from about 5 up to about 15 lb per cu ft. When the density is below 5 lb per cu ft, which represents a low-density phase, optimum conditions for removal of surface moisture should be found, and this requires superficial velocities of about 15 fps. The problem of removing bed moisture from low-rank coals involves consideration of size of coal, temperature, mass flow, heat balance, pressure, time of contact, and method of dispersing the coal in the heating mediums. The experimental work presented here gives data on these factors. Coal sizes up to 1/2 in. x 0 were dried with hot gases having initial temperatures ranging from 1900° to 2400°F. Coal

Jan 1, 1951

By Thomas P. Bispham

INTRODUCTION From the lender's point of view, the greatest period of risk in a project financing occurs during the construction phase. Therefore, most projects are supported during this phase by completion guarantees supplied by some credit-worthy entity; for example, the project sponsors in the case of a joint venture, such as that of W.R. Grace, Hanna Mining, and Liberty Capital; or by a strong contract with a utility or foreign importer/investor, such as the way North American Coal Corporation has structured many of its transactions. THE PROJECT LOAN REQUEST A project financing is a more complex form of term loan than one using an ongoing corporation's balance sheet as a credit base and, therefore, a potential lender will subject the loan request to a more rigorous analysis. To support this effort, the financial institution will require a more detailed information memorandum to evaluate the credit and technical risks of a project - especially since much of the necessary information is not otherwise available. (See also Gibbs and Sroka paper above in this Chapter) A well-prepared information memorandum will impress prospective lenders with the planning ability and general competence of management. Also, the process of preparing the memorandum will help management understand the true extent of the opportunities and limitations of its venture. Appendix A outlines the topics which comprise a complete information memorandum for a loan request. Of some interest to those seeking to sell a currently-operating mining venture, a similar information memorandum should be prepared i.e., covering the same topics discussed here, for the investment banker to use with potential purchasers. For that purpose, though, one might not want to prepare quite as much detail as for a lender. Appendix B outlines the elements of a reserve evaluation and feasibility study, often called the "Bankable Document." Usually, these studies are prepared by independent engineering consultants for use by potential borrowers and sellers. (Potential purchasers will often contract for a similar study for their use in evaluating an acquisition.) ELEMENTS OF A LOAN INFORMATION MEMORANDUM 1. Outline: The information memorandum should begin with a one-page outline covering such topics as: a. The borrower's name, address, and phone number. b. Principal contact at the borrower. c. Amount of the proposed financing. d. Desired pricing and structure of the proposed financing. This should include a description of the amount and source of equity in the proposed financing. e. Use of the proceeds and timing. 2. Summary: The most important information contained in the memorandum should be summarized in two pages. Note - If the borrower is a recently-formed single-purpose company, then elements 3, 4, and 5 will apply to the guarantors of completion and to the project sponsors. 3. The Borrower: This section is a brief biography of the borrower including such topics as date and state of incorporation, founder(s), lines of business, etc. 4. Capitalization: The borrower's current debt and equity position, including leases and trade debt, with amounts, terms, names, and addresses enumerated. Equity owners, and percentage ownership, should be identified. 5. Historical Financial Statements: If available, a minimum of five year's worth of complete historical financial statements

Jan 1, 1985

By E. O. Wagner, V. F. Parry

This paper summarizes investigations during 1949 on three pilot plants for drying low-rank fine coal by entrapment in hot gases. Detailed operating results on processing seven coals having moisture ranging from 24 to 62 pet, formulas and data for calculating performance of large units, and general conclusions on the problem of drying fine coal are presented. THIS paper presents a summary of investigations by the Coal Branch of the Bureau of Mines during 1949 on the removal of internal moisture from low-rank coals by processing them in the entrained and fluidized state. A paper on this subject, giving a summary of the early work, was presented at the 1949 AIME annual meeting1 and gave a the- oretical discussion of the time and heat required to dry various sizes of low-rank coal. The investigations on two pilot plants were presented in the foregoing paper. During 1949, three additional pilot plants were built to study phases of the drying problem and to investigate different techniques of handling fine coal in the entrained and fluidized state. The present paper gives operating data on the new units and presents detailed data on the drying of seven coals having bed moisture ranging from 62 to 24 pct. The problem of removing surface moisture from fine coal is principally one of heat exchange and dispersion of the coal particles so that heat can reach the liquid moisture to permit evaporation, and it does not involve the factors of size and time of contact to any great extent. If enough heat can reach the surface of the particles at temperatures higher than 250°F, moisture evaporates almost instantly, and the factors of time and size are of secondary importance compared with the factors of heat balance and dispersion of the coal. Therefore, it does not appear to be necessary to employ a fluidized bed when removing surface moisture, and the most efficient process would be one in which the coal particles are entrained in a hot gas stream of optimum temperature traveling at a velocity that causes the particles to disperse into a low-density phase. When low-rank coals are dried, the fluidized bed is necessary to provide control of time of contact. This is done by adjusting the superficial velocity which controls the density or dispersion of the particles. The density of beds having fluidized properties suitable for drying low-rank coals appears to range from about 5 up to about 15 lb per cu ft. When the density is below 5 lb per cu ft, which represents a low-density phase, optimum conditions for removal of surface moisture should be found, and this requires superficial velocities of about 15 fps. The problem of removing bed moisture from low-rank coals involves consideration of size of coal, temperature, mass flow, heat balance, pressure, time of contact, and method of dispersing the coal in the heating mediums. The experimental work presented here gives data on these factors. Coal sizes up to 1/2 in. x 0 were dried with hot gases having initial temperatures ranging from 1900° to 2400°F. Coal

Jan 1, 1951