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By A.S. Richardson

AIR conditioning, or air cooling, for the improvement of ventilation in the Butte mines has come into increasing use during the past 10 years. In part, the methods practiced have been described in previous publications of the Institute, but some improvements on earlier methods have been made and a number of new features have been developed. This paper is presented as a record of progress made, and for the sake of completeness describes all general features of the work. The need for air conditioning in the ventilation of mines in the district arises from the fact that the temperature of the ground and mine water has shown a very great increase with increase in mining depth, and has now reached a maximum of slightly over 130°F. The most difficult part of the ventilation problem is the maintenance of temperature and humidity of a satisfactory standard in the working places, especially on the lower levels. Although ordinary ventilation is adequate to maintain good conditions in most of the working places it is subject to a number of limitations at great depth. Most important among these limitations is that with increase in depth the air becomes heated before it reaches the working places, both by compression from increase in atmospheric Pressure and by heat transferred to it from rock at high temPerature, so that its capacity for lowering temperatures is greatly reduced before it reaches the operating zone. Increasing depth of mining also increases the distance traveled by the air in its passage through the mine, and this causes a corresponding increase in resistance to air flow, so that there is greater difficulty in maintaining even the same volume in circulation. Thus, in the face of a demand that the ventilating system have a very much greater capacity to remove heat from the mine, the tendency is for that capacity to diminish. The only evident alternatives were (I) the opening of additional air shafts to increase the volume of air in circulation, (2) an extension of the existing system that would be subject to the same limitations, or (3) the adoption of an entirely different method such as air cooling. Fortunately for an economic solution of the problem, the mean annual temperature of the surface atmosphere at Butte is about 40°F., with very low relative humidity in summer, so that there is unlimited natural cooling power at a temperature range adaptable to air-conditioning methods. Methods Two similar methods of air conditioning are used, as necessitated by service requirements and dependent upon the equipment available. In one, which is the more important and has the greater cooling capacity, water is circulated in a closed circuit, and, alternately, first absorbs heat from warm mine air and then dissipates it in the surface atmosphere by cooling at a cooling tower. The second

Jan 1, 1943

By Frederick Prime

The first catalogue of Geological Reports of the United States was prepared by Prof. 0. C. Marsh, and published in the American Journal of Science and Ark for 1567, vol. xliii, second series. Since then the list has more than doubled, and it was thought that the publication of a new catalogue, brought clown to date, would be useful to many of the members of the Institute of Mining Engineers. The compiler will be most thankful to have any omissions or inaccuracies in the list sent to him, to be published as a supplement in the next volume of the Transactions. Especially to have the correct title, number of pages, plates, and maps of any volume on the list to which an * is prefixed, as he has been unable to personally consult such works. A preliminary list was issued last February, which has been almost doubled by the kindness of many friends. The writer desires more especially to express the obligations he is under to the following gentlemen : The Chief of Engineers, U. S. A.; Principal Dawson, Mr. G. M. Dawson, Drs. R. J. Harrington and T. Sterry Hunt, of Montreal; Mr. H. Engelmann, of La Salle, Ill.; Dr. F. V. Hayden and Prof. J. W. Powell, U. S. Department of the Interior; Prof. E. W. Hilgard, University of California; Prof. Henry Y. Hind, Windsor, N. S.; Prof. C. H. Hitchcock, of Dartmouth College; Mr. Henry A. Holmes, State Librarian, Albany; Maj. Jed. Hotchkiss, Staunton, Va.; Prof. W. C. Kerr, Raleigh, N. C.; Dr. J. S. Newberry, of Columbia College ; Prof. W. H. Pettee, of the University of Michigan ; Dr. Samuel H. Scudder, Prof. N. S. Shaler, and Prof. J. D. Whitney, of Harvard College; Mr. Sanderson Smith and Prof'. J. J. Stevenson, of New York; Mr. Addison Van Name, of Yale College, and Lieut. Geo. M. Wheeler, U. S. Engineers.

Jan 1, 1879

By A. S. Richardson

AIR conditioning, or air cooling, for the improvement of ventilation in the Butte mines has come into increasing use during the past 10 years. In part, the methods practiced have been described in previous publications of the Institute, but some improvements on earlier methods have been made and a number of new features have been developed. This paper is presented as a record of progress made, and for the sake of completeness describes all general features of the work. The need for air conditioning in the ventilation of mines in the district arises from the fact that the temperature of the ground and mine water has shown a very great increase with increase in mining depth, and has now reached a maximum of slightly over 130°F. The most difficult part of the ventilation problem is the maintenance of temperature and humidity of a satisfactory standard in the working places, especially on the lower levels. Although ordinary ventilation is adequate to maintain good conditions in most of the working places it is subject to a number of limitations at great depth. Most important among these limitations is that with increase in depth the air becomes heated before it reaches the working places, both by compression from increase in atmospheric Pressure and by heat transferred to it from rock at high temPerature, so that its capacity for lowering temperatures is greatly reduced before it reaches the operating zone. Increasing depth of mining also increases the distance traveled by the air in its passage through the mine, and this causes a corresponding increase in resistance to air flow, so that there is greater difficulty in maintaining even the same volume in circulation. Thus, in the face of a demand that the ventilating system have a very much greater capacity to remove heat from the mine, the tendency is for that capacity to diminish. The only evident alternatives were (I) the opening of additional air shafts to increase the volume of air in circulation, (2) an extension of the existing system that would be subject to the same limitations, or (3) the adoption of an entirely different method such as air cooling. Fortunately for an economic solution of the problem, the mean annual temperature of the surface atmosphere at Butte is about 40°F., with very low relative humidity in summer, so that there is unlimited natural cooling power at a temperature range adaptable to air-conditioning methods. Methods Two similar methods of air conditioning are used, as necessitated by service requirements and dependent upon the equipment available. In one, which is the more important and has the greater cooling capacity, water is circulated in a closed circuit, and, alternately, first absorbs heat from warm mine air and then dissipates it in the surface atmosphere by cooling at a cooling tower. The second

Jan 1, 1943

By Frederick Jr. Prime

THE first catalogue of Geological Reports of the United States was prepared by Prof. O. C. Marsh, and published in the American Journal of Science and Arts for 1867, vol. xliii, second series. Since then the list has more than doubled, and it was thought that the publication of a new catalogue, brought down to date, would be useful to many of the members of the Institute of Mining Engineers. The compiler will be most thankful to have any omissions or inaccuracies in the list sent to him, to be published as a supplement in the next volume of the Transactions. Especially to have the correct title, number of pages, plates, and maps of any volume on the list to which an * is prefixed, as he has been unable to personally consult such works. A preliminary list was issued last February, which has been almost doubled by the kindness of many friends. The writer desires more especially to express the obligations he is under to the following gentlemen The Chief of Engineers, U. S. A.; Principal Dawson, Mr. G. M. Dawson, Drs. B. J. Harrington and T. Sterry Hunt, of Montreal; Mr. H. Engelmann, of La Salle, Ill.; Dr. F. V. Hayden and Prof. J. W. Powell, U. S. Department of the Interior ; Prof. E. W. Hilgard, University of California; Prof. Henry Y. Hind, Windsor, N. S.; Prof. C. H. Hitchcock, of Dartmouth College; Mr. Henry A. Holmes, State Librarian, Albany; Maj. Jed. Hotchkiss, Staunton, Va. ; Prof. W. C. Kerr, Raleigh, N. C.; Dr. J. S. Newberry, of Columbia College ; Prof. W. H. Pettee, of the University of Michigan ; Dr. Samuel H. Scudder, Prof. N. S. Shaler, and Prof. J. D. Whitney, of Harvard College ; Mr. Sanderson Smith and Prof. J. J. Stevenson, of New York ; Mr. Addison Van Name, of Yale College, and Lieut. Geo. M. Wheeler, U. S. Engineers. PHILADELPHIA, 907 Walnut Street, October 1st, 1879.

Jan 1, 1879

By Alexandre Mitinsky

The theory of elasticity, the science of the strength of materials, and all our calculations regarding engineering structures are based on Hooke's law, that in loaded bodies the deformations are proportional to the load producing them. Without this law it would be impossible to design intelligently engineering structures such as bridges, frames, axles, etc. This being the case, the proportional limit,l that is, the point at which deformation ceases to be proportional to load, is the most important factor in engineering design. Further, the working fiber stress should be fixed in reference to the proportional limit instead of, as is usual, in reference to the ultimate strength. The incorrect use of the ultimate strength instead of the proportional limit in setting the working fiber stress is probably due to two reasons: (1) it is a more delicate operation to measure the proportional limit; (2) it is usually assumed, though incorrectly, that the proportional limit is determined by the ultimate strength. In Germany the poin't at which permanent set first appears is often taken instead of the proportional limit. The two points will coincide if Gerstner's law, that elastic deformations are proportional to the loads producing them both before and after permanent set, is true; and the limit of proportionality and the elastic limit or point of permanent set will both be represented on a stress-strain diagram, by the point at which the line ceases to be a straight line and becomes curved or changes its inclination. It is to be further noted that the difference in definition between proportional limit and elastic limit introduces a difference in methods of determination in the testing laboratory. The German method of determining the elastic limit by alternately loading and unloading the test specimen is a lengthy process and time has in itself a very considerable influence on the results of physical tests.

Jan 1, 1916

By Eugene F. Poncelet

GLASS squares compressed on edge by steel jaws in poor contact with them developed jagged "partial-contact" cracks caused by the formation of local tensile stresses. Compressed by steel jaws in perfect contact, they developed smooth "release cracks" during release of the pressure, caused by the formation of local tensile stresses during the release of the pressure. All these cracks were parallel to the pressure. A Microflash photograph of a disintegrating specimen under sufficient pressure reveals a network of fractures roughly normal to each other, also "release cracks" and a disintegration cloud. The Griffith theory is amended to account for the formation of a first crack. A new theory, based on the theory of thermal agitation and wave propagation, is proposed to account for the progress, velocity and forking of cracks. The network of fractures is shown to have been caused by reflection at a free boundary of pressure pulses emanating from a first crack. Postulating equal distribution of energy in the pulses emitted on either side by a crack in particles, the smaller fragments are shown to continue fracturing preferentially while some of the coarser fragments remain as residual pieces. As comminution of the smaller fragments proceeds, the solid is reduced to a collection of residual particles of smaller and smaller sizes, accounting for the disintegration cloud. EXPERIMENTAL PROCEDURE Apparatus A crushing device was built, consisting of a steel frame and two polished, hardened steel jaws to crush plate-glass samples. This device was placed between the plates of a hydraulic press (Fig. I). For centering the pressure, the upper jaw was guided vertically and provided with a rounded top. Later it was replaced by a steel jaw ground out of a 2 1/2-in. steel ball, the lower surface being ground to an optical flat (Fig. 2). Four rollers were used to eliminate side thrust. Screws and centering blocks served to center the specimen in the crushing device. Hard steel shims placed under the shoulder of the upper jaw limited the "follow through" of the jaw after failure of the specimen. Stress distribution was first examined with a polariscope mounted on an optical bench, using monochromatic light. It was found convenient to mount polaroid, quarter wave and monochromatic plates directly on the device itself. A Microflash unit* was used as light source for the photographs. A gold-paint pattern was fused on the plate-glass specimens and connected into the spark-

Jan 1, 1944

The Institute has prepared a list of Societies' publications, magazines, . etc., which were duplicates and were discarded at the time of the consolidation of the libraries of the three Founder Societies. These books will be disposed of about March 1, 1916 by the Board of Directors of the Institute through the Library Committee. If, meanwhile, members who have incomplete sets of these books, or for any other reason desire to secure some of them, they are asked to communicate immediately with the Secretary, as this is in unusual opportunity to secure books at a very low price. American Gas Light Journal, viols. 31 to 39. American Institute of Electrical Engineers, Transactions, vols. 5 to 26. American Machinist, vols. 3 to 20, 22 to 29. American Society of Civil Engineers, Transactions, vols. 2 to 10, 21 to 24, 26 to 33, 39 to 49, 52, 55, 58, 74. Index, viols. 1 to 21. American Society of Mechanical Engineers, Transactions, vols. 1 to 28. Index, vols. 1 to 20, vols. 1 to 25.

Jan 1, 1916

By Robert S. Nichols

Fording Coal Limited's mine in the Rocky Mountains near Elkford, B.C. has produced 21.8 million clean tonnes of metallurgical coal from 1971 to 1980, inclusive. This production has come from several pit areas and required the removal of 149.1 million bank cubic meters of waste rock and overburden by truck-shovel and dragline operations. Waste dumps from 30m to 200m in height have been successfully constructed on natural slopes, generally between 10° and 26°. Design considerations for the dumps include foundation and soil conditions, natural slope angles and containment of weak overburden or rehandle materials. Dump control is maintained by monitoring the crest and the face of an active dump area. Crest movement is measured by extensometers locally termed "Spoil Monitors". When crest movement rates progressively increase above normal, dumping operations are temporarily relocated. Some unstable conditions and mass failures have occurred as the result of natural foundation slopes being in excess of 26°, failure of weak water saturated foundation soils or weak material being placed on the dump.

Jan 1, 1983

By AIME AIME

A discussion of the Papers by Prof. H. Hubert, Liege, Belgium ; Mr. Tom Westgarth, Middlesbrough, England ; and Mr. K. Reinhardt, Dortmund, Germany, presented at the London Meeting, July, 1906, and printed in Bi-Monthly Bulletin, No. 12, November, 1906; pp. 910 to 930, 971 to 987, 1037 to 1163. MR. ADOLPH GREINER, Seraing, Belgium :-I have nothing special to add to Professor Hubert's paper except to say that there are some little things that it would be well to have cor-rected when the paper comes to be published. In dealing with the thermal efficiency of the engine, you will find that the 29.84 per cent was a very high one. Professor Hubert has forgotten those engines built under the Cockerill type, but he has referred to them in Appendix II. At our works at Cockerill we have built 63 engines, giving 63,000 h.p., and the other companies who have received licenses have built 113 engines, making 103,000 h.p., and aggregating 176 engines and 166,000 h.p. Eight years ago I had the pleasure of giving to the Institute the results obtained up to that time. Since then a good many engines have been constructed. In 1898 I thought a blast-furnace producing 100 tons of pig iron would allow 3,000 h.p. Professor Witz and Professor Hubert show that with the same production of pig the new engines take 3,800 h.p. out of the gas. At present at Cockerill we make 700 to 800 tons of pig iron per day, and we hope to have 26,000 h.p; in a few years. At present we have only half of that in gas-engines, but we hope to have in five or six years all the gas out of these furnaces to the number of 25,000 or 26,000 h.p. MR. Tom WESTGARTH, Middlesbrough, England:-My contribution is not a paper in the ordinary sense of the word, because I am sure you will agree with me that what I have written is only supplementary to the other two papers. The notes are schedules of the larger-size gas-engines built by the engine-makers, of 500 h.p. and upwards. If you look at the schedules you will find that in England gas-engines have be-

Jan 1, 1907

By George Stern

The purpose of this investigation has been to study one method for making ordinary carbon steel by the powder metallurgy technique. This method con- sists of pressing and subsequently sintering an intimate mixture of iron powder and gaphite in a suitable atmosphere to Produce a steel. Two types of iron Powder have been studied, electrolytic and reduced. The sinkring of mixtures of loose Car-bonyf iron and carbon black for several hours at I000 to 1100 C. (1830' to 2010°F.), followed by forging of the resultant ingots to bars, has been studied by Offermann.' TrailZ has reported on the properties of hydrogen-reduced and electrolytic iron powders, both containing 0.5 per cent carbon. Methods for making steel bodies by powder metallurgy have also been sug- gested by Goetzel13 who recommends the addition of steel powder of well-defined carbon content to pure iron powder, and Volterra,~ who suggests compaction and subsequent sintering of a mixture of steel powder, iron oxide and iron powder. Additional methods for making steel bodies by powder metallurgy have been reported in the literature by Kohering Allen,6 Balke,7 Wulff,8 Boegehold,9 and others.,0,11,12 It is felt that the method of pressing iron powder and graphite, as described herein, lends itself best to production be-Cause of the lubricating action of the

Jan 1, 1946

By Frank Woolley, John F. Elliott

The high-temperatzrre solulion calorimeter has been modified and an extension dynamic analysis of i/s transient behavior has provided an improved basis for interpretation of the experimental data. The partial molar heats of mixing, Him, of aluminum, copper, and silicon in the corresponding binary liquid-iron alloys haz,e been measured directly at 1600°C. The resulls in kcal per g-alom are: THE high-temperature1,2 solution calorimeter was planned and designed to obtain directly the partial molar heat of solution of solute elements in a variety of liquid metals that might serve as solvents. Results obtained in the temperature range of 1000° to 1200°C were described in the two earlier publications. However, a long-term goal in the program has been to obtain measurements at 1600°C of the heats of solution of elements in liquid iron. Hence, subsequent to the work last reported,2 and based on the experience of the first two studies, the calorimeter system has been modified and operated at 1600°C to obtain measurements on the Fe-Si, Fe-A1, and Fe-Cu systems. This paper reports the results of the work. THE MODIFIED SYSTEM It was clear from the earlier results that the most precise measurements can be obtained with the high-temperature solution calorimeter when the solution time is less than approximately 30 sec. This can be achieved only when the bath temperature, Tb, is above the melting (liquidus) temperature of the solute material being dropped. A second point of importance is that the refractories used earlier liberated considerable water so that, although the oxygen potential of the atmosphere in the system was satisfactory for work with nickel and copper, it was too high for work with iron, silicon, and so forth. Third, for work at 1550" to 1650°C, an improved temperature-sensing unit is needed. The modified calorimeter in its latest form is shown schematically in Fig. 1. The refractory brick and the Kanthal-Super heating elements which formed the furnace for heating the solute addition have been replaced by a smaller resistance-heated tube furnace which is insulated with bubble-grain alumina. A more elaborate gas purification system was installed to maintain a satisfactorily low oxygen potential in the atmosphere of the calorinieter chamber and of the solute addition furnace. As was the case in the earlier work, at the beginning of a run the calorimeter chamber is evacuated and then filled with purified argon so that a total pressure slightly in excess of 1 atm is maintained during the run. When either of the furnaces within the enclosure attains a red heat, 6 pct H2 is added to the atmosphere. Throughout the run, gas from the calorimeter is circulated through a de-oxidation system at the rate of approximately 5 standard liters per min; the changeover time for the gas within the calorimeter enclosure is approximately 1 hr. The essential stages of the deoxidation system are: a copper furnace at 600°C, a drying tube of anhydrite, and a titanium furnace at 800°C. The oxygen potential of the gas stream in the purification system can be monitored at several points by a stabilized zirconia oxygen cell. This cell is invaluable in detecting the development of leaks in the container vessel and the gas circulating system. The installation of the solute-addition furnace allowed either of two types of temperature-sensing units to be mounted on a water-cooled probe. The first was a small optical device using a silicon diode that was

Jan 1, 1968

By George Stern

The purpose of this investigation has been to study one method for making ordinary carbon steel by the powder metallurgy technique. This method con- sists of pressing and subsequently sintering an intimate mixture of iron powder and gaphite in a suitable atmosphere to Produce a steel. Two types of iron Powder have been studied, electrolytic and reduced. The sinkring of mixtures of loose Car-bonyf iron and carbon black for several hours at I000 to 1100 C. (1830' to 2010°F.), followed by forging of the resultant ingots to bars, has been studied by Offermann.' TrailZ has reported on the properties of hydrogen-reduced and electrolytic iron powders, both containing 0.5 per cent carbon. Methods for making steel bodies by powder metallurgy have also been sug- gested by Goetzel13 who recommends the addition of steel powder of well-defined carbon content to pure iron powder, and Volterra,~ who suggests compaction and subsequent sintering of a mixture of steel powder, iron oxide and iron powder. Additional methods for making steel bodies by powder metallurgy have been reported in the literature by Kohering Allen,6 Balke,7 Wulff,8 Boegehold,9 and others.,0,11,12 It is felt that the method of pressing iron powder and graphite, as described herein, lends itself best to production be-Cause of the lubricating action of the

Jan 1, 1946

?Aaronson, Alfred E , Oil Producer, Pres, Tuloma Oil Co Tulsa, Okla '18 ||Abad, Leopoldo F , College of Mm , Univ of California Berkeley, Cal '23 ||Abadilla, Quirico A , Geol Dept, Cia Mexicana de Petroleo "El Agmla," S A , Edifico "El Aguila," Esq, Caller Aurora y Comercio, Tampico, Tamps , Mexico '20 ||Abbey, Robert Graham, Student, Case School of Applied Science Cleveland, O '21 Abbott, Clarence E, Gen'l Supt, Iron Mines Div, Tenn Coal, Iron & R R Co, 1405 Minnesota Ave , Bessemer, Ala '04 Abbott, Louis Benjamin, Chief Engr , Consolidation Coal Co , Elkhorn Div Jenkins, Ky '15 Abbott, Robert R , Met Engr , Peerless Motor Car Co Cleveland, Ohio '12 ||Abbott, Wells Osborn, Student, Univ of Arizona Tucson, Ariz '23 Abe, Asaka Ashiya, Mukogun, Hmyogoken, Japan '14 Abeel, George H, Jr , Cons Min Engr 4612 W 17th St , Los Angeles, Cal '18 Abel, Albert E , Asst to Pres , Valley Mould & Iron Corpn Sharpsville, Pa '19 ?Abeloff, Miran S 322 W 45th St, Ness York, N Y '21

Jan 1, 1923

"Butte originated as a placer mining camp. The first gold discovery was made in the year 1864, near what is now Main Street. Placer mining was vigorously prosecuted along Silver Bow Creek and in Missoula, Buffalo, Town and Parrot gulches for a period of five years, at the end of which time, in 1870, the camp was practically deserted. In the meantime, the quartz veins so prominently traceable over the hillsides were located, the first location being made by W. L. Farlin and called the Black Chief claim, and later restaked as the Travona. Reasoning from the presence of the gold placers, free-milling gold ores were eagerly looked for by the early prospectors. Claims covering the great Rainbow and other silver lodes were located in the sixties. The presence of valuable silver ores in these veins caused the staking out of many claims, believed to be valuable only for silver, but which later proved to be enormous copper producers.Treatment of these early discovered rich ores was first attempted in arrastres. Later, stamp mills were built. The Centennial dropping 10 stamps, was the first, and in 1875 Mr. Farlin built the Dexter 10-stamp mill, intro¬ducing chloridizing-roasting. More successful processes were soon introduced and several large mills built, among which were the Alice, Lexington, Silver Bow, Moulton and Bluebird, in all representing a total of 290 stamps. The silver mining industry reached its zenith in 1887 and declined rapidly in the early nineties, following the sudden drop in the price of silver in 1892.During this period of silver mining activity the business of copper mining was making rapid strides. Development of the veins, located as silver veins, had uncovered copper ore in many instances. There was great activity in ""claim staking'' in the years from 1871 to 1879, during which period most of the claims covering the present productive copper area were located."

Jan 1, 1913

By James H. Bechtold

The yield strength of annealed tungsten was found to have a strain rate exponent 12 times as great as that of low carbon steel. The effects of temperature and strain rate could be correlated through the Zener-Hollomon parameter with a heat of activation associated with yielding of 32,000 cal per g-atom. This heat of activation is independent of strain although both the temperature and strain rate dependence of the yield strength vary with strain. MOST metals have mechanical properties that are relatively insensitive to strain rate, especially at temperatures below that at which creep is important. In iron and molybdenum," however, relatively large strain rate effects are observed in the temperature range where the rapid increase in yield strength occurs which leads to the ductile to brittle transition. In this temperature range Zener and Hollomon' have suggested that the effects of strain rate and temperature T on the yield strength could be correlated through a single parameter, P, in the following manner where Q is a heat of activation characteristic of the metal and associated with some unspecified relaxation process. They also observed that if the temperature is restricted to a relatively narrow range— below room temperature for steel—that the logarithm of the yield strength could be expressed as a linear function of the logarithm of P. From this relation the logarithm of stress should be a linear function of the logarithm of the strain rate at constant temperature: where r will be referred to herein as the strain rate exponent. At a constant strain rate the logarithm of stress should be a linear function of l/T, ay(e = C) ~ eT [4] where q = Qr [5] and is referred to herein as the temperature exponent. These equations have been found to relate the effects of temperature and strain rate on the yield strength of molybdenum in the temperature range wherein the ductile to brittle transition occurs, —75° to +150°C.2 Bechtold and Shewmon3 have shown recently that the ductile to brittle transition in annealed tungsten occurs in the temperature range +150° to +350°C. In this temperature range the yield strength in-

Jan 1, 1957

By J. C. Bayles

Jan 1, 1886

By Lyon F. Terry

ACCEPTED current practice for A the valuation of mineral property is based upon Hoskold's theory and valuation tables first published in 1877, and popularized by Herbert Hoover's "Principles of Mining" issued in 1909. In more recent years the procedure has been developed further in the course of the extensive valuation work required for Federal taxation purposes. The 1-aluation of oil and gas properties and of mines is based upon the same principle-the estimation of the present worth of future net revenues. However, in valuing oil and gas properties the method used for discounting future revenues differs somewhat from that adopted for mines, owing principally to the nature of the re- source. production from oil and gas properties usually declines from year to year, whereas coal and ore de- posits are adapted to a more uniform rate of output.

Jan 1, 1940

By Frank Haas

THE public generally has-become aware that there is something wrong with the coal industry and a clamor has arisen for an explanation if not a remedy for this disorder. It is only reasonable that this Institute be looked to for a diagnosis to show the way for some other .agency to prepare the patient for prescription or operation. The subject is extensive, widely diversified, and beyond the efforts of an individual to cover completely; one of the objects of this paper is the initiating of a symposium on the non- technical factors essential to an understanding of the bituminous coal industry. The present condition of the coal industry cannot be described in a few words but, in effect, it resolves itself into a simple statement: The average coal operator is losing money notwithstanding a firm conviction on the part of the consumer that he pays too much for his coal. Without enumerating the many and varied. factors which contribute to this condition, this paper will be devoted to the interrelation of taxation and ownership of coal and its effect on finance

Jan 1, 1930

By JOHN R. SUMAN

OVERWHELMING proof of the importance of oil in a modern national economy is afforded by the present European War. Treat¬ies and national boundaries have been cynically violated to secure greater supplies of the precious fuel. Petroleum substitutes have been desperately, and far from successfully, sought. The whole German military theory of the drang nach Osten, the drive to the East, is directed at cutting the British supply of oil and securing a supply for Germany. This is a war of machines, and the machines of war feed hungrily on oil. In view of this fact, it is surely comforting to know that we are living today in a nation which has surpassed all the rest of the world not merely in unearthing the raw supplies of petroleum which lie beneath its surface but also in every phase of the industry in mining, refining, processing, production, and distribution.

Jan 1, 1941

By Daniel C. Jackling

WHAT is written here features some of the things that I would say if I were to de- liver a Presidential address during the Annual Meeting to be held this month in New York. I am aware that custom favors written rather than vocal delivery of such a discourse; and, as this accords exactly with my own preference, I assure readers that they will never be called upon to hear these remarks spoken- anyhow, not by me. My year as President is drawing to a close. As I look back I like to classify and analyze the impressions that have been left with me. It has been a delightful and fascinating experience to me personally; I have appreciated the courtesies and aids, and have been deeply gratified at the honors accorded me. Perhaps the source of greatest satisfaction is the opportunity I have had to sense more about the provinces of this Institute and about the useful functions of the profession that it represents. For 38 years I have been a member. I served two terms as Director-one in 1914-'16 and again in 1927-'29. I have been honored by selection as a Saunders Medalist. I thought I was reasonably familiar with the functions, the ideals, and the activities of the Institute. But the things that I have discerned during the past year have dispelled that conceit. I still think that, a year ago, I was as well informed as most members; but since then I have had the rare privilege of executive service and insight. That has given me a perspective that I feel can be obtained in no other way-as I think the illustrious engineers who have preceded me in office will agree. I wish that I had the power to translate to every member somewhat of the feelings of pride in our organization that a year as President cannot help but instill.

Jan 1, 1939