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By H. W. Hitzrot

THE new 4800-ton fine-grinding plant at the Hollinger Consolidated Gold Mines property at Timmins, in the Porcupine district of northern Ontario, went into operation in November 1937, and represents the culmination of an experimental program. The plant is a moderately low rectangular building of hollow tile on a steel frame, large enough to house four 7 by 15-ft. ball mills, with a 12 by 27-ft. classifier beside each mill. At one end is space for the addition of another mill and classifier or a mill and classifier for the regrinding of table concentrates. This regrinding is now done in the old grinding department of the main mill building. Also within the new building are the four 6-in. sand pumps for lifting the product from the low-dis- charge ball mills up to the classifier feed launders and the containers and appurtenances of a complete dust-collecting system. Together with the usual overhead crane, these constitute the major units of equipment within the new plant. The location is at the lower end of the main mill buildings toward the old tailings pond, now so neatly leveled off and sodded to rival the very best of our own W.P.A. projects. Close by the new grinding plant is a large dome-shaped structure-the new fine-ore bin designed arid built by Mr. Longmore and the Hollinger milling and engineering staffs. There are four separate automatically loaded inclined belt conveyors leading up from the bottom of the bin to the grinding plant. Each belt is equipped with a recording weightometer, in the grinding building. The whole structure and the machinery within it give the impression of permanence and a carefully integrated design with close attention to details, giving the operators every advantage for consistently good work. The many ideas and opinions behind this achievement were all ably organized and executed by the Hollinger milling and engineering staffs, anti not a few were directly initiated by them. Excellent cooperation was afforded by the Hollinger staff to the engineers helping to conduct the grinding and classification test program. It was the author's privilege

Jan 1, 1939

Jan 1, 1906

By Robert Hoy

If the reader finds that the basic information in a commodity chapter is insufficient, he can consult the appropriate sources in this chapter to find more detailed or more up-to-date information. In these days, technology develops so rapidly that this 4th edition will be somewhat out of date even by the time it is distributed. A comparison of this edition with the 3rd edition (1960) of Industrial Minerals and Rocks will clearly demonstrate how rapidly the scene changes. One of the best sources of new information, of course, is attendance at technical meetings. For example, the papers presented at the national and sectional meetings of AIME usually discuss new developments in the respective divisions of the society. Frequently this information is available in Preprints. In addition some are printed in Mining Engineering and/or the Transactions of the Society of Mining Engineers of AIME. Furthermore, other professional and trade journals contain articles pertinent to the field. A journal introduced in 1967, Industrial Minerals, published by the Metal Bulletin, Ltd., London, is an excellent source of information. The Mining Journal, Ltd., also in London, publishes a weekly journal, a Mining Magazine (monthly), and a Mining Annual Re- view. The latter covers the field from three aspects: (1) by commodities, (2) through technical developments, and (3) geographically. Other useful magazines and periodicals include Engineering and Mining Journal, Pit and Quarry, Rock Products, and World Mining, all published in the United States. In addition many new books related to industrial minerals have been published since the 3rd edition of Industrial Minerals and Rocks. Most of these, of course, are included in the bibliography of each chapter in this volume. Another excellent information source is the proceedings of the Forum on Geology of Industrial Minerals. This group, which held its 11th annual meeting in 1975, is sponsored by a state geological survey or another mineral agency on a rotational basis. The proceedings have been published by the various sponsors and are available as indicated in Table 1. Two major sources of basic industrial mineral and rock data in the United States, and also a good source for many foreign countries, are the U.S. Geological Survey and the U.S. Bureau of Mines. The two agencies publish many reports and maps on a variety of geo- logical and mining subjects. In addition, each agency has an indexed list of all their publications with a free service announcing new publications. (New Publications of the Geological Survey, U.S. Geological Survey, Washington, D.C. 20242) and New Publications-Bureau of Mines, Publications Distribution Branch, U.S. Bureau of Mines, 4800 Forbes Ave., Pittsburgh, Pa. 15213). The U.S. Bureau of Mines (USBM) publishes annually Minerals Yearbooks which provide statistical data on mineral products including production, consumption, imports and exports, as well as information on new developments. Another very useful USBM series is called Mineral Facts and Problems. Editions were published in 1960, 1965, and 1970. Three other major series of publications by the Bureau are Information Circulars, Reports of Investigations, and Mineral Trade Notes. The latter is particularly good for news of foreign developments. A new Professional Paper No. 820 of the U.S. Geological Survey, 1973, summarizes data on the mineral resources of the entire country. The USGS, in cooperation with USBM, other Federal and various state agencies, has also prepared summary reports on mineral and water resources of given areas which include

Jan 1, 1975

By R. W. Raymond

Under the names of Conservation, Social Justice, the New Nationalism, and Progressive Democracy, many earnest reformers are calling for a new system of Federal government to replace the one which they ascribe to our fathers, and declare to have been outgrown. They are proposing the lease by the United States of certain natural resources on the public domain, for the profit of the U. S. Treasury, instead of the sale of such resources to private citizens or associations of citizens. In the present paper, I shall try to show that this notion is neither new nor good. It is clear that the United States is owner, as well as sovereign, of public lands acquired through conquest or purchase from other nations, as it was owner of the public lands expressly ceded to it by the original thirteen States. Its policy with regard to such lands involves, therefore, two entirely distinct questions: What shall it do as owner ? and, What shall it do as sovereign ? The latter question, it must be confessed, has played but a small part in our history. All the prerogatives of sovereignty which were not explicitly conferred upon the Federal government by the original States were retained by them. The ownership or control of precious or other metals or minerals in the earth, for instance, was thus reserved to the several sovereign States. New York, South Carolina, and other States have passed laws on this subject, without regard to Federal authority. As new States have been successively admitted to the Union, the tacitly accepted theory has been, that they thereby acquired all the reserved rights of the original States. These newer States largely outnumber the first thirteen; and it is inconceivable that they would submit to any deprivation of sovereignty based on historical grounds. One of them—Texas—came into the Union by its own voluntary

Jan 1, 1913

By L. E. Shiffman

W. J. Parton—Those operators faced with the problem of treating fine coal whether in bituminous or anthracite will find this paper most timely. I would like to take this opportunity of discussing Mr. Schiffman's paper and at the same time express certain views relating to our Tamaqua plant. I would like to ask the author what type of impeller and diffuser is used in the Denver cells? Screen analysis of products from individual cells indicate that coarser material resists flotation and only floats after greater retention time in the last few cells. Also, the need for a scavenger screen to reclaim non-floated coal particles further stresses this point. I have always felt that more efficient means of cleaning coal between 10-mesh and 28-mesh existed than flotation. Reagent and power costs are high for the flotation process. When floating +28-mesh particles, cell capacity is lowered and some of the particles are lost with the refuse. The Tamaqua plant of the Lehigh Navigation Coal Co. floats —28-mesh coal and capacity of recoverable coal is 40 tph for 1800 cu ft of Denver cells; or 0.05 tons per cu ft of cell. At Kimberly 7.75 tph for 600 cu ft of cell gives 0.013 ton per cu ft of cell. At Bessie 14 tph for 800 cu ft of cell gives 0.017 tons per cu ft of cell. It would be appreciated if the author would comment on what he feels is the upper size limit of particle to attain most efficient utilization of the flotation process. The dewatering screw is a very interesting development since it offers a simple way to prepare coal sludge for more complete clewatering by drainage or mechanical dewatering on screen or filters. In other words it could be used to accomplish the same thing as a thickener tank. I would appreciate having the author's comment on how he thinks such a screw dewaterer would work on a froth.* The process as used in floating coal at the Bessie and Kimberly plants may be referred to as more of a bulk oil float in contrast to a froth flotation process. Experiments on increasing capacity of cells is most interesting since we are going through such an experi- mental period at the present time. Recently a double overflow was installed on our No. 30 Denver cells. So far results are not conclusive. In reviewing this paper the following comments are made pertaining to investigation of methods for increasing capacity: Supercharging: Supercharged air in matte flotation or for that matter the use of the normal amount of air drawn in by the impeller would in all probability cause such an aeration in the cell as to destroy the buoyant effect given to the coal particles by the excessive amount of kerosine used. In other words, air creates an agitation zone throughout the cell, creating a boiling and thereby giving a lower recovery in the cell. It would be interesting to know whether the 7 pct increase in recovery was with no air being admitted to the stand pipe. Changing Impeller Speed: The speed of a receded disc impeller for a No. 30 cell as recommended by the Denver Equipment Co. is, I believe, approximately 250 rpm. At this speed and using supercharged air in excess of 8-oz pressure, we have observed a boiling action in the cells. In our flotation we endeavor to obtain some degree of froth flotation using pine oil as a frother. The boiling action as caused by increasing the amount of air added to the cells is detrimental to recovery in froth flotation. It is our belief that to obtain increased recovery from a cell in froth flotation, additional air must be introduced but at the same time this air must be dispersed throughout the pulp in the form of small bubbles and this can only be done by increasing the speed of the impeller. Therefore, if Mr. Schiffman decreased the speed of the No. 30 impellers and at the same time continued to use supercharged air, the boiling action may have been increased because larger bubbles developed. The lower recovery as reported could be due to this factor. Decreasing the impeller speed will definitely decrease the power consumed but may have other disadvantages. First, we believe it will permit "sanding" in the cell and this in our opinion will increase the wear on the impeller and diffuser, especially so, if there is pyrite and/or sand present in the feed. "Sanding" in the cell when air is used, as in froth flotation, will effect the dispersion of this air and cause boiling.

Jan 1, 1951

By L. E. Shiffman

W. J. Parton—Those operators faced with the problem of treating fine coal whether in bituminous or anthracite will find this paper most timely. I would like to take this opportunity of discussing Mr. Schiffman's paper and at the same time express certain views relating to our Tamaqua plant. I would like to ask the author what type of impeller and diffuser is used in the Denver cells? Screen analysis of products from individual cells indicate that coarser material resists flotation and only floats after greater retention time in the last few cells. Also, the need for a scavenger screen to reclaim non-floated coal particles further stresses this point. I have always felt that more efficient means of cleaning coal between 10-mesh and 28-mesh existed than flotation. Reagent and power costs are high for the flotation process. When floating +28-mesh particles, cell capacity is lowered and some of the particles are lost with the refuse. The Tamaqua plant of the Lehigh Navigation Coal Co. floats —28-mesh coal and capacity of recoverable coal is 40 tph for 1800 cu ft of Denver cells; or 0.05 tons per cu ft of cell. At Kimberly 7.75 tph for 600 cu ft of cell gives 0.013 ton per cu ft of cell. At Bessie 14 tph for 800 cu ft of cell gives 0.017 tons per cu ft of cell. It would be appreciated if the author would comment on what he feels is the upper size limit of particle to attain most efficient utilization of the flotation process. The dewatering screw is a very interesting development since it offers a simple way to prepare coal sludge for more complete clewatering by drainage or mechanical dewatering on screen or filters. In other words it could be used to accomplish the same thing as a thickener tank. I would appreciate having the author's comment on how he thinks such a screw dewaterer would work on a froth.* The process as used in floating coal at the Bessie and Kimberly plants may be referred to as more of a bulk oil float in contrast to a froth flotation process. Experiments on increasing capacity of cells is most interesting since we are going through such an experi- mental period at the present time. Recently a double overflow was installed on our No. 30 Denver cells. So far results are not conclusive. In reviewing this paper the following comments are made pertaining to investigation of methods for increasing capacity: Supercharging: Supercharged air in matte flotation or for that matter the use of the normal amount of air drawn in by the impeller would in all probability cause such an aeration in the cell as to destroy the buoyant effect given to the coal particles by the excessive amount of kerosine used. In other words, air creates an agitation zone throughout the cell, creating a boiling and thereby giving a lower recovery in the cell. It would be interesting to know whether the 7 pct increase in recovery was with no air being admitted to the stand pipe. Changing Impeller Speed: The speed of a receded disc impeller for a No. 30 cell as recommended by the Denver Equipment Co. is, I believe, approximately 250 rpm. At this speed and using supercharged air in excess of 8-oz pressure, we have observed a boiling action in the cells. In our flotation we endeavor to obtain some degree of froth flotation using pine oil as a frother. The boiling action as caused by increasing the amount of air added to the cells is detrimental to recovery in froth flotation. It is our belief that to obtain increased recovery from a cell in froth flotation, additional air must be introduced but at the same time this air must be dispersed throughout the pulp in the form of small bubbles and this can only be done by increasing the speed of the impeller. Therefore, if Mr. Schiffman decreased the speed of the No. 30 impellers and at the same time continued to use supercharged air, the boiling action may have been increased because larger bubbles developed. The lower recovery as reported could be due to this factor. Decreasing the impeller speed will definitely decrease the power consumed but may have other disadvantages. First, we believe it will permit "sanding" in the cell and this in our opinion will increase the wear on the impeller and diffuser, especially so, if there is pyrite and/or sand present in the feed. "Sanding" in the cell when air is used, as in froth flotation, will effect the dispersion of this air and cause boiling.

Jan 1, 1951

By R. A. Wagstaff

SINCE the time of the early Egyptians, the use of copper has been a boon to the life of most of the civilized world. Its use has been varied; in many connections, the art by which it attained its greatest usefulness has been lost. In this paper an endeavor will be made to take into consideration some of the many changes that have occurred during the last 40 years of copper-smelting operations. During that period the copper blast furnace has been almost forced out of existence by new methods of ore concentration-first, gravity concentration, and then flotation. These new methods of concentration introduced many new factors into the metallurgy of copper. The product was wet, it was fine and it was high grade. To overcome all these factors many changes have been necessary throughout the smelting agenda. New equipment has been necessary for transportation, unloading, sampling, bedding and moisturing in all smelting plants, especially the custom smelter. During the early days of "flotation," little was known about filtering or the use of an alkaline circuit; often the concentrate going to the smelter contained 20 to 25 per cent moisture. It is easy to imagine the difficulty arising with a product of this nature when it had to be shoveled by hand labor. To meet these conditions, mechanical unloading and sampling devices were soon developed. In many instances such good progress was made that actual costs for handling this unfavorable product were lower than those formerly incurred on the old product. Today most sampling of copper ores and concentrates is being done by mechanical sampling, pipe or augur sampling, or shovel sampling. Where concentrates are uniform in metal content, a great many of the plants now use pipe or augur sampling. For spotty ores, the old shovel sample with cone and quartering during the final stages is still in use. Where big tonnages are handled, mechanical sampling of concentrates is being done, with satisfactory results. To curtail slow and tedious cutting and mixing procedure, mechanical mixing boxes, splitters and cutters are used to cut down labor costs. MILLING As crude ores become scarcer, the use of milling operations increases. The few crude ores that are still smelted are used as fluxing types. To use these ores finer grinding has been found advantageous. This has made for better bedding and fluxing conditions, which in turn makes for faster smelting, lower fuel consumption and better metal recovery. The degree of fineness is more or less determined by the nature of the product. Most plants have set a standard of through ¾ -in. mesh screen for roaster- reverberatory smelting and through ¾ in. mesh screen for converter fluxes. For some refractory ores; even finer grinding has been found to be advantageous for good reverberatory smelting.

Jan 1, 1944

By A. C. Rubel

WHAT does management expect of W and from an engineer? First and foremost, it expects that he should become, and therefore should fit himself in every way to be, a part of management so that he may assume as much and as many of the responsibilities of management as his ability and the opportunities of the job permit. Let me make clear at the start that the profession of pure, technical engineering offers but limited opportunities at the top levels because of the inherent organization of engineering work. The line of succession to top jobs may be likened to a cone with a broad base and an extremely sharp point. Consider any oil company, large or small, or any operating function of that company, and you will find few top engineering jobs in the organization. This is true by the nature of the work handled. There will be a few district engineers depending on the spread of operations, a chief petroleum and production engineer, perhaps a few research engineers, possibly some technical executive assistants, and that is usually all. The road to these jobs is a long one and the competition is tough. The larger the organization the greater the opportunity, but always the ratio of engineers to top engineering jobs is only a small one.

Jan 1, 1947

By WILLIAM J. LINNEY

MAGNETITE ore from Lyon Mountain, so- called "Low Phos Chateaugay," has long been known to the iron and steel industry for its almost complete absence of impurities. These magnetites occur along the northern foothills of the Adirondacks in several parallel and folded stringers which are continuous for several miles, striking generally northeast-southwest and dipping usually over 45° to the northwest, or roughly toward the St. Lawrence River. Ore of minable thickness is found in shoots of various sizes as to length and breadth, but of undetermined and possible great depth.

Jan 1, 1943

By Ernest R. Woakes

Cana, originally called Santa Cruz de Cana, is situated in the province of Darien, in the Republic of Colombia, S. A. The river Cana is a tributary of the Tuyra, which flows into the Gulf of San Miguel, and thence into the Pacific Ocean some 80 rniles S.E. of the City of Panama. • The Espiritu Santo mine lies on the S. side of the Cana river at the foot of the Espiritu Santo range. The plateau of Cana has an elevation of 2000 feet above sea-level, and the mine is about 200 feet above the plateau. The map of the Darien accompanying this paper is the only correct one in existence. It was made by Lucien N. Bonaparte Wyse for the Panama Canal Co., and has been copied fur the present use, with permission, by Mr. L. G. Inglis. The dotted line on this map shows the route from the coast to Cana. As this mine was one of the most celebrated at the time of the Spanish occupation, it is only natural that there are a great many traditions and writings concerning its former workers and production. Dampier mentions it, though he does not seem to have been nearer to it than El Real de Santa Maria, the port on the Rio Tuyra, about 50 miles by road from Cana. Senor Vicente Restrepo's work, entitled Estudio sobre las Minas de Oro y Plata de Colombia, translated by C. TV. Fisher and published in New York in 1886, is, perhaps, the best treatise on Colombian mines. He has devoted a great deal of attention to the subject of the Espiritu Santo mine, and has had access to all that dealt with it in the archives of Bogota. It will be interesting to quote a few pasaages from the above work, which seemed like a romance to the writer of this paper some years ago, when he first came across the history. Being actually in Cana at the time, and knowing the present company had

Jan 1, 1900

By William H. Emmons

Discussion of the paper of William H. Emmons, presented at the Canal Zone meeting, November, 1910, and printed in Bulletin No. 46, October, 1910, pp. 767 to S37. CHARLES R,. KEYES, Des Moines, Ia. (communication to the Secretary*) :-It is not in a spirit of criticism that I offer a supplemental suggestion or two on the subjects covered by this valuable and highly instructive memoir. There are two points which, in my opinion, should have received greater emphasis in Mr. Emmons's excellent paper. One is the fundamental role played by the chlorides under certain conditions in ore-formation. The other is the possible establishment of geographic relationships among the four phenomena of (1) excessive chloridic content of mine-waters; (2) the abundance of chloridic compounds of the precious metals ; (3) the presence of. manganese oxides; and (4) the diminishing importance, in ore-genesis, of the metallic sulphates. Although Mr. Emmons's notes refer to gold alone, it may be pertinently asked whether the same principles do not hold good for silver and copper also, since these metals form, together with gold, a distinct and well-known chemical group. That the reactions involved apply equally well to the other two metals mentioned, is shown by a number of recent observations and discussions. Chloridic ores of silver are, as I have lately endeavored to show, mainly worked in. arid or desert regions only ; and the great deposits of disseminated copper-ores are similarly characteristic of such regions, in which both classes doubtless owe their formation to the abundance of saline materials derived from desert dusts, and to the .plentiful and almost universal presence of manganese oxide. Under these climatic conditions, silver is somewhat more abundantly deposited than copper and gold, because its chloride is so much * Received Nov. 11, 1910.

Jun 1, 1911

By J. J. Pelley

NOT being a scientist, an engineer or a metallurgist, I consider it a very great honor indeed to be asked to address the American Institute of Mining and Metallurgical Engineers. Your program indicates that any lack of intricate and technical knowledge on my part in the field of metals will be well taken care of by others. Therefore, I believe any remarks that I have to make might well be devoted to the practical side of metals in railroad service and to the general railroad situation as I view it today. The experiments now being conducted on the railroads with so-called streamlined, light-weight trains and cars would not have been possible had it not been for scientific and engineering research in the past that made these lighter weight metals available. The railroads now have approximately forty units of these new trains in operation. Experi-ence with them will no doubt be a guidepost for future construction in that direction. While the best known experiments are in the passenger service, they are being extended into the freight service. Within the past three years there was constructed for the Association of American Railroads a new standard box car of ordinary carbon steel, in which, by reason of superior design, weight was reduced by 3500 to 4500 lb. under that of existing cars of like capacity. The Association is now testing a box car that weighs approximately six or seven tons less than practically all of the box cars of like capacity in service today. If these tests are successful a very large field for the use of lighter weight metals will immediately be opened, provided the costs of such metals are not too high. The fact that various experiments are being carried on with other classes of equipment constructed with so-called light-weight and non-corrosive metals no doubt will have a considerable effect upon the rebuild-ing of old equipment. The question then will be: How much can we afford to spend on the rebuilding of an old car weighing six to seven tons more than a new car constructed with the latest available materials?

Jan 1, 1936

By AIME AIME

NO FEATURE of the annual meeting is considered more important at Institute headquarters than the assembly of delegates from the various local sections and divisions. There the president of the Institute and other officials may learn at first hand what the members are thinking and doing in every part of the country, and the delegates, in turn, may find that head- quarters is not a group of more or less cold-blooded New Yorkers whose primary function is to send out annual bills for $15. This year, the section and division delegates required three sessions to thresh out the matters of common interest: Monday morning and afternoon and Thursday afternoon. They were also guests of the Institute at the Directors' dinner on Tuesday night, and at the Directors' meeting afterward.

Jan 1, 1932

By R. Dawson Hall

WHAT are the opportunities for the services of engineers in the coal mines? The best answer perhaps can be made by detailing the present lines of development in the bituminous coal mining regions. They are just at the beginning of a period that can be conservatively termed revolutionary. A few glimpses of new possibilities in economic mining that will reduce the cost of bituminous coal at the mines by at least one half have convinced almost everyone that a change must shortly come about. The cost of housing has become such a burden, especially in mountainous regions, that development which demands the hiring of more men and constructing more houses would not be profitable. The introduction of mechanical aids to mining, transportation and dumping suggests a way of obtaining a large tonnage with the same or a smaller number of men with no further house construction. At the same time the restriction of immigration has made it increasingly difficult to obtain men inured to hard labor. Modern civilization is not productive of muscular energy and at the same time it provides men who are not indisposed to the use of the mental effort required to direct the physical forces now available for the replacement of such energy.

Jan 1, 1924

Primarily, 1961 was a year for widespread application of tools and techniques which have become operational in the past several years • • • Raising --Raise climbers and climber raising techniques have been improved; narrow veins as low as 55° dip are now being mined from climber raises. Climber modifications include: larger motors, tighter radius curves negotiated, improved lubrication and new methods of stowing the climber during a blast. Climber raises are now ventilated in several ways: a 12-in. diam flexible vent tube behind the climber rail; a 6-in. diam pipe behind the climber rail (with fan); or a 6 to 8-in. diam drill hole along the axis of the raise. In hot raises, these ventilating techniques have resulted in more rounds per shift. When driving raises from crosscut and lateral development, mucking machine loading of raise rock is preferred over slusher ramp loading for the following reasons: a) faster set-up and teardown of climber facilities; b) easier access for climber maintenance, repair and loading of raising supplies; c) area at the bottom of the raise can be kept cleaner. Both wide and narrow veins are mined from 7 x 7-ft climber raises at Butte and at Republic, Wash. At Republic, climber rollers have been modified to support increased weight when driving 55°dip raises • Drilling-The new largebore, short-stroke push feed drills are much faster drilling than previous models and are most satisfactory in hard ground. Although reports on maintenance studies of the new drills are not yet available, increased steel and bit wear and breakage, and increased drill maintenance are seen as potential problems. Mines in Montana and Idaho continue to test rubber-collared drill steel. The fabricating methods used are successful but advantages in increased steel life have yet to be proved. Underground applications of down-the-hole drills continue. Drilling speed and accuracy are reported as the outstanding advantages. Manufacturers are now hopeful of making drills which will operate in any direction. Present applications are for ventilation holes (to 8 in. diam) for climber raises, holes for hydraulic fill distribution, drain holes and "predrilled" raises. Good drilling accuracy has been reported to a depth of 200 ft. Cutting holes in drifting is seen as a future application

Jan 2, 1962

J. L. JONES,* Pittsburgh, Pa.-If a nickel anode is cast under commer-cial conditions, will it contain nickel oxide? Will the nickel oxide affect the rate of corrosion in a double sulfate solution; or will the nickel oxide dissolve in a double sulfate solution? I would also like to ask whether a 98 per cent. pure nickel anode will corrode as fast as a 96 per cent. nickel anode; whether electrolytic nickel will corrode less rapidly than nickel containing a small amount of carbon; and whether the materials some-times used in coating molds for casting nickel anodes will affect the rate of corrosion of the anode? In other words, whether an electrically non conducting coating is likely to be present that will prevent the nickel anode from corroding rapidly. JOHN F. THOMPSON.-The nickel oxide will not dissolve in the double sulfate solution, as far as we know. We do not make the ordinary nickel anode of commerce, but we supply nickel to the nickel anode makers. Those makers almost invariably buy a high-carbon nickel shot, ranging around 0.45 per cent. carbon. In their process, they even further, car-burize it so as to get nickel that will melt easily and be fluid enough to fill the mold, so that the ordinary cast anode on the market is unquestion-ably oxide free. The only time that such an anode will have oxide will be through an error in melting. Some cupola makers of anodes have had trouble with oxidation, but as a rule the anodes are thoroughly carburized; so much so that they probably carry a couple of per cent. of carbon of which around. 1.6 per cent. is graphite.

Jan 12, 1919

Cooperation will be the keynote of the meeting of the Institute that will be held in New York on February 17 to 20. Arrangements are being made for two joint sessions with the Canadian Mining Institute, on the same day, which therefore will be known as Canadian Mining Institute Day. On the afternoon of Wednesday, February 19, there will be a joint session with the American Institute of Electrical Engineers. Besides, we will receive six or eight papers through the National Research Council, four of which will be presented at the National Research Council Session. In March, at the next meeting, of the Canadian Mining Institute, there will be an American Institute of Mining Engineers Day. The plan is to have the same subjects discussed at both meetings, but by different speakers. One speaker on each subject will represent the Canadian Mining Institute, and one speaker the American Institute of Mining Engineers. The Canadians and the Americans who will speak in Canada are expected to attend the discussion in New York. In addition the discussion at the New York meeting will be sent to Canada in printed form, so that the Canadian discussion will be a continuation of the former. At the joint session with the American Institute of Electrical Engineers, there will -be presented six very important papers on the subject of Electric Welding, one by the Chairman of the Electric Welding Research Committee of the National Research Council, another by the Chairman of the Metallurgical Sub-committee of that same Committee, and a third by Comfort A. Adams, President of the American Institute of Electrical Engineers and Chairman of the Welding Committee of the Emergency Fleet Corporation. We will receive six or eight papers through the National Research Council. These papers are results of recent investigations and represent the last word in their respective subjects. The excursion on Thursday, February 20, will be to Newark Bay to visit the Federal Shipyard where the first, electric-welded ship is being built. Philip W. Henry is chairman of the excursion committee of arrangements.

Jan 1, 1919

THE Institute of Metals Division of the A. I. M. E. has joined with the American Society for Steel Treating and the American Welding Society in support of National Metal Week in Philadelphia, Oct. 8 to 12. Individual and joint technical sessions, plant inspection trips, and a general exposition to be held in Commercial Museum have all been arranged. With the coming of the Institute of Metals Division into the circle, the scope of the exposition has been broadened to cover non-ferrous metals, and exhibits of much interest are promised. Headquarters for the Institute of Metals and the American Society for Steel Treating will be at the Benjamin Franklin Hotel, and for the American Welding Society at the Bellevue-Stratford. The American Society for Steel Treating and the Welding Society will hold technical sessions each forenoon at their hotel headquarters. The Institute of Metals Division will hold sessions Tuesday morning and Wednesday and Thursday afternoons; that for Wednesday being a joint session with the American Society for Steel Treating. The latter society will hold independent afternoon sessions on Thursday and Friday. Registration and information desks will be open at the hotels throughout the week, and an attractive program of entertainments has been arranged.

Jan 1, 1928

By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985

By W. F. Boericke

NOT the least interesting sights that New York has to offer the visiting mining engineers are the extensive tunnel operations that are being pushed in connection with the subway construction. While a "hard rock" man might feel at home on these jobs, the engineers driving the subway tunnels have necessarily had to encounter some new problems pe-culiar to the largest permanent mining camp in the country. To drive a heading 36 by 18 ft. in hard rock, with a station section to follow 52 by 27 ft. across-and to do it in the midst of a city's traffic-demands engineering skill of a high order. Not the least of the problems overcome by the engineers in charge was to provide adequate ventilation for the men at the face at all times, so that there would be no delay in the work. With a crew of 40 men (32 drill runners and helpers on the machines alone, working two shifts) a hold-up due to inability to get back promptly to the face after shooting would affect costs quickly. AIR VITIATED BY EXHAUST FUMES FROM MOTOR TRUCKS A complication not encountered by metal miners, but which the subway engineers had to meet, was pollution of the air in the tunnels by fumes from the exhaust of the motor trucks used to haul away the broken rock. As shown in the cut, motor trucks were constantly em-ployed to remove the heavy tonnage broken as the tun-nels went ahead, amounting, according to R. J. Van Wagner, chief engineer of the Del Balso Construction Co., to 48 cu. yd. per ft. of tunnel advance. As the length of the tunnel under his management was 900 ft., it was essential for the safety of the men that suffi-cient air be introduced to dilute the poisonous fumes so that no ill effects would be felt for the entire distance that the trucks had to travel. The presence of the ex-haust fumes was especially noticeable on foggy days.

Jan 2, 1928