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By H. C. George

The Wisconsin Zinc District, or the Upper Mississippi Lead and Zinc District as it is often called, lies in the southwestern corner of Wisconsin, in Grant, Iowa and Lafayette Counties, and it includes adjoining parts of Illinois and Iowa. The district is about 70 miles long, north and south, and about 40 miles wide, east and west. It lies wholly within what is geologically known as the non-glaciated area of the Upper Mississippi Valley. HISTORY OF THE DISTRICT The district was first opened up as a lead producer in 1822. From this time until 1860, about 205,000 tons of cog lead (galena) and washed lead (galena) was produced from shallow crevices and openings. From 1860 to 1900, about 74,500 tons was produced, and since that time, from 5000 to 7000 tons has been produced annually. Since 1900, most of the lead concentrate produced has been as a byproduct of the zinc mines. The first zinc ores were mined about 1862. These were the carbonate ores, locally known as "drybone." Very little zinc blende was mined in the district, previous to 1875. The zinc blende ores mined from 1875 to 1900 were mostly of the high-grade, hand-cobbed, sheet-ore class, which usually contained from 45 to 60 per cent. metallic zinc Such mines as the "Sallie Waters," "Quinlin," 'Lead Mine," "Benton Blende," and "Ida Blende," located near Benton, Wis., were mines which produced ores of this type, during this period. The mines located at Highland, the "Coker Mine" located at Livingston, Wis., and the "Opencut Mine" located at Shullsburg, Wis., were mines that were heavy zinc carbonate producers, previous to 1900. The production of zinc ores in the district from 1862 to 1890 was about 283,500 tons, mostly zinc carbonate, with a probable average metallic zinc content of 30 per cent. From 1890 to 1903, the production

Jan 1, 1918

By D. S. Kingery, D. W. Mitchell

The authors attended the 11th International Conference of Directors of Safety in Mines Research held in France, July 1963. In addition to Conference discussions pertaining to control of coal dust they had the added assignment to study present European practices for neutralizing the coal-dust explosion hazard. Information was obtained through discussions with the Research Directors, by visits to testing stations and observations of operating mines in various countries. This paper tells what the current practice in this field is in Europe, and how effectively coal dust explosions are controlled. The method is rock dust barriers. CONTROL OF COAL DUST DISSEMINATION Experience in Europe indicates that the control of dust production and dissemination by water or foam systems is not successful except during undercutting. Cybulski, Dawes, and DeBraaf - respectively Director, Mines Research Establishment "Barbara", Katowice, Poland; Principal Scientific Officer, Safety in Mines Research Establishment, Sheffield, England; and Chief, Central Mines Research Establishment, Hoensbroek, Treebeek, The Netherlands - believe that wetted dust becomes readily dispersible and abatement measures should be considered only as a temporary means for reducing the health hazard. In an effort to reduce the health hazard, calcium chloride is used on the floor of main haulageways in Dutch mines and water infusion is practiced in Germany in mines where the coal is relatively porous. With respect to wet coal dust, the Belgians, British, Dutch, French, and Russians reportedly have accepted the results of research from the Polish and American experimental mines on the effectiveness of water as an inert in arresting explosion propagation. The Polish use the two test methods proposed by the U.S. Bureau of Mines1 for evaluation of the adequacy of wetness of mine dust; they require that water be added to the wet dust to maintain a minimum of 50% moisture by weight if dependence is placed on water alone. GENERALIZED ROCK DUSTING The general attitude with regard to protection against coal dust explosions throughout Europe is that generalized rock dusting is a vital primary step to inhibit initial ignitions but definite emphasis is also placed upon the efficiency of rock dust barriers. Those exceptions to generalized rock dusting are Germany and Austria where some rock dusting is done but principal reliance is placed upon rock dust barriers. The rock dust used in Belgium, Holland, Russia, and Poland is coarser than that used in the U. S.; 50% of the dust is through a No. 200 sieve (75 microns). Recent research by the Polish indicates that the portion finer than 20 microns is ineffective in arresting explosion propagation, and that the rock

Jan 1, 1964

By A. T. Stroebel, J. A. Goodwin

Diatomite deposits, the skeletal remains of tiny aquatic plants called diatoms, are found in many parts of the world. Only a few of these deposits are of commercial value. Open pit mining is used in nearly all deposits now being worked. Processing methods range from simple drying, crushing, sizing and packaging to carefully controlled and highly sophisticated calcining and air classification procedures, employing the latest control and testing techniques. The major uses of processed diatomite are infiltration as filter aids and fillers and extenders.

Jan 1, 1983

By Demitri B. Shimkin

Minerals - A Key to Soviet Power, by Demitri B. Shimkin. Harvard University Press. $8.00, 452 pp., 1953. -The book is an economic evaluation of the position of the Soviet Union in respect to mineral wealth and development. Various sources are drawn upon, including the reports issued after completion of the various five year plans. The book is of considerable reference value despite the confusion which beclouds information concerning Soviet mineral progress. The theoretical study is the joint product of some of the staff of the Harvard University Russian Research Center. The author's approach to metals and nonmetals in the Soviet Union is systematic and he presents a great deal of data covering the period 1926 to 1950. Indicated weaknesses in the mineral economy are highlighted. Some considerable space is given to Soviet mineral future.

Jan 5, 1953

By Joseph L. Gillson

IT is a somewhat curious circumstance that the newest of the Institute's several awards should be conferred in the oldest of our several professional fields—for there is little question that geology and mining have antedated metallurgy and petroleum. Perhaps so did geophysics. After all, one geophysical instrument, the magnetic compass, has been successfully employed for many centuries. Young in years the Jackling Award may be, but in distinction—whether in terms of the title it bears or in terms of the first three medalists (Reno Sales, E. D. Gardner, and the late Father MaceIwane)—the Jackling Award is already one of the ranking awards of the Institute. The name of the 1957 medalist will bring added luster to an already illustrious roll. J. L. Gillson was born and brought up in Evan-ston, Ill., in an area characterized by singularly flat and uninspiring topography, and devoid of ore deposits and even of bedrock—a most unlikely environment from which to expect a future Jackling medalist to emerge! On graduating from high school he enrolled as a chemistry major at Northwestern University. At the end of his frkshman year his scholastic prowess had won him a prize of two chemistry books. But these went unread, for about this time he came under the spell of U. S. Grant, that distinguished and enthusiastic geologist who for many years was head of Northwestern's geology department. From thence forward Joe was a dedicated geologist. After a Navy interlude in World War I, he went to MIT for graduate work, substituted for the late Professor Palache for one year at Harvard in mineralogy, received his doctorate at MIT and stayed on as a meniber of the MIT faculty, where the geology department was headed by that great dean of all economic geologists, Waldemar Lindgren. In 1926 Joe spent a summer looking into barite deposits for the du Pont Co., and since 1928 he has been du Pont's chief geologist. Do men who lead such active lives in our exploration organizations generally have permission to publish their observations? Do they generally find time to publish, even if they have permission? Alas, no. But in Joe Gillson's case, yes. His bibliography runs to well over two score papers, including one of the very first papers in this country on the applications of petrography to problems of Portland cement. He has written on such topics as the origin of talc and the genesis of ilmenite, fluorspar, and alkaline rocks. Each year for a number of years his annual reviews of industrial minerals in the Mining Congress Journal have been eagerly awaited. - Do men who do so much to advance their science have anything left to give to the advancement of their profession? In Joe Gillson's case, yes. He has been a vice president of the Mineralogical Society of America and has been active in the councils of the Society of Economic Geology, particularly in their research programs. This year he is president of the American Geological Institute, currently perhaps the most challenging post to which a geologist may be elected. His contributions to AIME scarcely need documentation, so I shall mention only three—his chairmanship of the Committee on Democratization of the Institute, a committee whose work and recommendations brought a new and hopeful leaven to AIME at a time when this was sorely needed; his chairmanship, a few years ago, of the Industrial Minerals Division; and his current place on the Board of Directors as Vice President of the Institute. Such' a catalogue of contributions and achievement, even as condensed as I have had to make it, certainly merits the Jackling Award. Yet, implicit although not often expressed in the conferring of most awards is the hope that besides recognizing a distinguished career, it will provide stimulus for further effort. In the present instance, such an expectation is already well on the way to fulfillment. Only recently Joe Gillson has undertaken the editorship of a new and greatly revised edition of the Institute's Seeley Mudd volume, Industrial Minerals and Rocks. And so, Mr. Chairman, it is with pleasure and enthusiasm that I present Dr. J. L. Gillson for the 1957 Jackling Award.

Jan 1, 1958

By W. Mostowitsch, H. O. Hofman

The mineral gypsum, CaSO4 + 2 H2O, has been used for many years as a sulphurizing and basic flux in several smelting-operations. Thus, in smelting oxide nickel-ore in the blastfurnace, it is commonly added to the charge to furnish the sulphur necessary for collecting the metal in a matte, and a base for slagging the siliceous gangue. In the concentration of lead-copper matte in the reverberatory furnace it has been used for years at Preiberg, Saxony,1 for a similar purpose, and for producing at the same time a copper-matte with less than 0.15 per cent. of Fe. The latest use gypsum has been put to is in the blast-roasting process of Carmichael-Bradford.2 The term " blast-roasting," given by A. S. Dwight3 to the Dwight-Lloyd method of roasting and agglomerating: is a happy generic term which covers the ground better than the " lime-roasting " of Ingalls5 or the " pot-roasting " of Austin: in that it leaves the operation independent of the character of the flux and the form of apparatus, and retains the characteristic feature of this class of processes—namely, that of using forced draft. In the Carmichael-Bradford process the dehydrated material, mixed with galena-concentrate, acts as a diluent and a flux. The process differs in this from the Huntington-Heberlein7 and the Savelsberg8 processes, in both of which limestone is used.

Jan 1, 1909

By Keats, J. L.

IN THE literature on the elimination of metalloids in basic open-hearth practice, there are a great many heats recorded in which excellent data on changes in slag and metal composition during refining are given, but in almost all of these heats either temperature data or weights and analysis of charge are unrecorded and observations on the physical charac- teristics of the slag are almost always lacking. With these points in mind, a test heat was made in which as complete as data possible on all the factors that affect the elimination of metalloids were obtained.

Jan 1, 1957

By K. K. Kohli, S. S. Peng, R. E. Thill

Introduction Since the adoption of the Surface Mining Reclamation and Control Act of 1977, which mandates that surface subsidence be an intergral part of the underground coal mine design, there has been a sudden rise of demand on guidelines for minimizing surface subsidence and its associated structural damages. Unfortunately there is no sufficient amount of systematic subsidence data to fill such a gap, although considerable research has been devoted to the subsidence induced damages of surface structures in the past. However, it was said that many surface subsidence surveys have been performed and monitored by coal companies during the past twenty years, and that it will be a great source of information for subsidence engineering design if they can be collected and assembled together. An effort was therefore initiated in the Department of Mining Engineering, West Virginia University, under contract with the U. S. Bureau of Mines in December 1978 to contact each individual coal company in the Northern Appalachian Coal Field for any surface subsidence survey data. After 10 months' survey, the data collected include: 17 longwall panels and 2 room and pillar sections. The data in each panel and section cover the complete set of subsidence survey raw data, underground mine layout maps, surface topo maps, geological loggings showing the stratigraphic sequences and thickness of the overburden, and if available, locations and types of surface structures. On-site visits were followed to study the surface terraines and structures. Interviews were conducted with the owners of the surface structures in most cases about, if any, the history and characteristics of damages. Most subsidence surveys started with the first panel and ended with the second or sometimes, but rarely, the third panel. The first panel may be located in a virgin area but frequently it was adjacent to (on the tailentry side) a mined-out room and pillar section. It must be noted that all of the subsidence data is restricted only to the amount of vertical subsidence and that the horizontal displacement measurement was completely ignored. Primarily due to the fact that vertical subsidence is the most striking feature in a subsidence trough, which is mistakenly considered to be the only critical contributor to surface structural damages, and that a horizontal displacement survey is much more complicated and time-consuming.

Jan 1, 1981

THE translators wish to record their appreciation of the help given by many individuals with whom they have discussed various details of the work. They are particularly indebted to Mrs. Anne Noble McKeachie, who initiated their collaboration; to Miss Cora Adamson, who spent many hours in making an accurate copy of a much-mutilated &st draft of the translation; and to the Yale University Library which gave access to its excellent collection of books on all aspects of the history of the sciences. The reader will share with the translators their obvious indebtedness to Mr. Carl P. Rollins, Mr. James W. Boyden, and the staff of the Printing-Office of the Yale University Press. The publication of this translation by the American Institute of Mining and Metallurgical Engineers has been made possible by a grant from the Seeley W. Mudd Memorial Fund, administered by a committee composed of Harvey S. Mudd, H. DeWitt Smith, and George Otis Smith. The translators are gratified that their work has been judged to fall within the scope of this Fund, which was established for the advancement of the sciences of mining and metallurgy by the encouragement of research and the dissemination of knowledge, and especially for the furtherance of such activities as might benefit the younger members of the profession. While Biringuccio's book would scarcely serve as a dependable text for the young mining student or metallurgist, it can give him a sense of his membership in a long-standing and honorable profession and enable him better to see his own work in true perspective. It is hoped that this English edition of a sixteenth-century Italian work will be read by the practicing metallurgist as well as by those who have already found pleasure in exploring the past of their profession. A man always feels more at home in a foreign country with men of his own craft than in his birthplace with those of different interests: As in space, so in time, and the modem metallurgist who may be unmoved by the literary and artistic Renaissance will quickly appreciate the spirit of that exciting period as he talks shop with Biringuccio on a visit to mine, smelter, forge, and foundry; as he sees in different forms the very furnaces and machines whose operation and response he knows so well; and as he discusses with this engineer of four centuries ago such topics as the best kinds of fuel or refractory for a given operation, and the importance of adequate supplies of power and material.

Jan 1, 1942

By H. A. Guess

A Discussion of the Paper by Mr. H. A. Guess, read at the Atlantic City meeting, February, 1904. MR. JOSEPH P. GAZZAM, Germiston, Transvaal, So. Africa (communication to the Secretary*) :-About fourteen years ago, in southeastern Missouri, I used a method for the wet determination of lead which closely resembles the modified sulphate-chromate method described by Mr. Guess. The principal difference, however, is, that after dissolving the lead chromate in hydrochloric acid, the chromic acid is determined by means of a standard solution of ferrous sulphate. The method, which I believe is still in use in southeastern Missouri, was found to be convenient and accurate for the determination of lead in the ores and various products of the mills and furnaces in that district, but it was never used for complex ores. A number of determinations of lead in mill-tailings were made in the year 1891; a few of these results are given in Table I.

Mar 1, 1905

By H. F. Seifert

THE classification and preparation of non-ferrous scrap metals is a subject of interest to every individual and corporation that employs in its processes of manufacture non-ferrous metals and alloys and accumulates in such manufacture scrap from these materials for disposition in the form of turnings, borings, short ends, punchings, clippings, grindings, washings, etc. All too frequently the disposition of such scrap is left to individuals who have no knowledge of the subject either from a metallurgical or a commercial standpoint, or both. Much money is thus lost which with a little more intelligent effort might be saved, and in this day of fierce competition and small profits such an opportunity cannot be ignored. The Mineral Resources of the United States for the year 1925, the latest issue available (Part 1, page 221), gives the secondary non-ferrous metals of certain classes recovered in the United States for the year 1924 to 1925 as shown in Table 1. The figures are tabulated simply to give the reader some idea of the scope of the secondary non-ferrous metal industry. Approximately 900,000 tons of an annual value of $244,000,000 were recovered in the year cited. In 1916 (again using the Mineral Resources of the United States as authority) the tonnage reclaimed was approximately 632,000 tons and the value, because of the high prices for metals prevailing at that time, amounted to $265,000,000. It is not the purpose of this paper to discuss smelting and refining operations or the feasibility of an organization, primarily engaged in some other activity, conducting smelting and refining operations to convert its own non-ferrous scrap metals and alloys. The classification and preparation of these non-ferrous materials is a preliminary step, regardless of what subsequent operations the material may pass through or where these operations may be conducted. For that reason the subject can be readily discussed without any reference to subsequent activities. Space must be provided, with suitable handling facilities, scales and the necessary storage bins where the material may be accumulated. The scope of the activity, the nature of the industry and the tonnage handled will determine, in a large measure, what preparation, if any, it may be desirable to give these scrap materials to put them in the best marketable condition. By preparation is meant largely what, for the want of a

Jan 1, 1928

By AIME

AS the Petroleum Division rounds off the first quarter century since its evolution from technical committee status, there steps to the long line of notable men who have presided over its activities a young man, currently of Tulsa, one Herbert F. Beardmore by name. For one year, as Chairman for 1946, the Division will be his oyster. hi; baby, his responsibility. "Herb" Beardmore was born at Columbus, Ohio, Feb. 6, 1904, and lived there until he was thirteen. Then his family moved to Oklahoma City, and later sent him to the University of Oklahoma, where he graduated in 1925 with a B.S. in engineering geology. His final year in college was the first year in which a petroleum engineering course was taught at the school. Since his course of study so closely paralleled that of a petroleum engineer, he has frequently been spoken of as the first petroleum engineering graduate from the University of Oklahoma. Out of college he went to work as an oil-field roustabout in the Ranger, Texas, field for Jake L. Hamon. This work consisted of all manual labor phases of cable-tool operation and beam-pumping of oil wells. He moved in 1926 to Bartlesville, to become a gas engineer for the Indian Territory Illuminating Oil Co., where he was employed in gas-well drilling, gas production, and transportation, mostly in Osage County, Oklahoma.

Jan 1, 1946

By Bunting S. Crocker

Bunting S. Crocker (Executive Vice President, Kilborn Engineering Ltd., Toronto, Ont., Canada)-This is an interesting report on laboratory-scale testing with pebble charges in 12-in.-diam mills, and the author correctly concludes that useful laboratory testing can be done. In the opening paragraphs he states, "laboratory pebble-milling tests have been considered too difficult to perform and not relevant enough to the actual grinding situation"!! This is definitely not so! The writer published detailed tests done in a 12-in.-diam mill comparing pebble and steel balls in 1952 6 and again in 1954 7. We note that our review paper in 1963 was the only one mentioned in the References. The author states that "a smooth lining is more frequently used in commercial-scale pebble grinding." The writer has designed some 22 plants treating 134,000 tpd in North America and Australia. He has also visited pebble installations in Norway, Sweden, Finland, and South Africa. All these plants correctly use heavier lifters than would be considered standard for ball mills of a similar size. Smooth liners are not recommended in wet ore treating plants. In the 1952 paper6 it was clearly demonstrated in the test work that the individual ore pebbles had to be the same weight-not the same diameter or size-as the steel balls if comparable grinding results were to be obtained. In the tests performed in this study most of the pebbles "passed 50-mm round hole screen openings and remained on a 40-mm round hole sieve. Correspondingly most of the ball mill experiments were performed with 50 or 40-mm steel balls". Thus, the balls and pebbles were essentially the same size or diameter. This means we are comparing apples and oranges. When the feed being ground is fine enough the pebbles will be superior. When the feed is coarse the steel balls will be the better. This is similar to grinding tests in which two sizes of steel balls are compared. In the middle of the article, "Crocker5 has reported that equal weights of pebbles and steel balls achieve the same grinding capacities under similar conditions …", then he proceeds to question this postulate. In the eight reports that I have published, I have never made this statement. What I have said is "for comparable grinding, the individual pebbles in the mill charge should be the same weight as the individual steel balls." This is not the first time that I have been misquoted on this point! It is most unfortunate that this test work has been done with a ball and pebble of the same diameter and not the same weight. It is impossible to properly evaluate the results. I also regret the fact that the screen analyses of the tests were not shown. Many of us who have been 40 years or less in the grinding game can easily read screen analyses at a glance. We can tell whether the top meshes are being ground by the ball charge, etc., etc. The graphs are fine for the summary or to illustrate conclusions but are often misleading in the report itself. However, we do agree that useful pebble grinding tests can be done in a 12-in. mill.

Jan 1, 1973

One of the results of the work of the Committee on Precious and Base Metals is that the present Bulletin is as large as some of. the annual volumes of Transactions of the Institute, and we extend our. compliments and thanks to the Committee and express to the members thereof and to. the authors, who have so bounteously given of their time and information, the. sincere gratitude of the Institute. In order to get all these papers printed and distributed to the membership in advance of the meeting, it was necessary to divide the work between two printers. This accounts for the discrepancy in the pagination of the Bulletin; and we also ask the indulgence of our readers in case errors have crept into this preliminary edition during the period of unusual pressure. Program of the Butte Meeting.-The program of the Butte meeting will include six technical sessions for the presentation and discussion of papers and five half-clay visits to mines and metallurgical works. The following program is practically in final form, with slight additions which may be necessary later. Every effort will be made to have papers presented and discussed on scheduled time, so that members who are unable to attend the entire meeting may so plan their trip as to hear and discuss papers in which they are especially interested.

Jan 8, 1913

By G. T. Brookman, P. B. Katz, D. K. Martin, J. A. Ripp

With the increasing emphasis on using American fossil fuel resources, more facilities are evaluating coal conversion. In addition, those facilities now using coal are considering better coal storage procedures to minimize negative environmental impacts. For example, rainfall and snowmelt on a coal pile produce a drainage stream high in acidity, suspended and dissolved solids, iron, sulfate, and trace metals. Usually, the characteristics of the runoff stream do not allow for direct discharge to streams and lakes. Detention in a holding pond and pH adjustment are traditional methods of treating coal pile runoff before discharge. Historically, this treatment methodology has been performed inefficiently without a good data base to assess how much runoff treatment is needed to meet effluent guidelines. A model was developed to simulate runoff volume and pollutant loadings under different rainfall conditions. This model will be used to size and design treatment works for coal pile drainage. The Ohio State University (OSU) version of the Stanford watershed model was selected as the base model. The OSU model simulates overland runoff in a rural area. It includes factors such as soil moisture, depression storage, infiltration, and flow to a ground water reservoir. TRC also used the OSU co-model for acid production in coal refuse piles as the basis for qualitative modeling work. A number of modifications were made to the OSU models to make them applicable to coal storage piles. The physical/chemical reactions included in the models are described in more detail in the project report. In addition, the models were altered so that a standard NOAA magnetic tape of historical meteorological data can be used as data input instead of requiring the user to create a data file. The resulting TRC coal pile drainage model is actually two models - a quantitative model, termed H2OTRC, and a qualitative model, TRCCOAL.

Jan 1, 1984

By Edward Gridley

Members of the Institute who were present at the Amenia, N. Y., meeting, in October, 1877, will remember their visit to the hematite mines, just west of the village of Amenia, and some of them may perhaps recall the deposit of carbonate ore south of the opening made for the hematite. The smelting of this carbonate during the last few months, has produced an iron that seems worthy of being brought to your notice. A little more than a year ago, at the Wassaie Furnace, Dutchess County, N. Y., we made a few hundred tons of iron from a mixture of two-thirds ram carbonate and one-third Chateaugay ore, hoping that it would be suitable for steel purposes, but as the iron showed phosphorus 0.189 per cent., it, was not offered. This iron looked well and seemed quite strong, and gave good results in malleable castings; but no special tests of strength were made. About February 1st, of this year, we began using two-thirds roasted carbonate, and one-third Chateaugay, and noticing that the iron mas stronger than usual, we had two samples tested, which showed tensile strength of 32,014 and 34,176 pounds per square inch. After our stock of Chateaugay ore was exhausted, me put on one-third ram carbonate with the two-thirds of roasted carbonate, and the first test made of the iron, showed 40,008 pounds per square inch. The three tests given above were made by Mr. A. J. Copp and Mr. E. B. Manning, of the Phoenix Furnace, Millerton, N. Y., on a machine of Riehle Bros., Philadelphia. Since these tests were made, they have broken samples made with all carbonate ore as follows: 39,669, 40,816, 41,882, 42,281, 39,902, and 40,130 pounds per square inch. A test taken from the same bed of iron as the last-mentioned (40,130), was broken by Mr. A. Blass, at Irondale Furnace, showing 40,151 pounds per square inch. A sample broken on the Riehle Bros. machine, at Stevens Institute, under direction of Professor R. H. Thurston, showed 40,000 pounds per square inch. Another sample was broken by Professor Thurston on his torsion machine, and gave torsion 7", and tensile strength of 44,500 pounds. And

Jan 1, 1884

By Clarence E. Sims, George A. Moore

INTRODUCTION IN previous publications of the writers4-7 it has been shown that vacuum extraction of steel can be carried as close to quantitative completion as desired provided the steel is in the austenitic state and sufficient time is allowed. For precise work, the method claims preference because the equipment for holding and heating the sample can be made simple, and because crucibles, boats, and other unnecessary materials can be eliminated and the blanks thus made very small. It is well known that the evolution rate of hydrogen is smaller just above the transformation than immediately below, as would be expected from the increase in solubility when passing into the gamma state. Many attempts have been made to obtain analyses by extraction just below the transition, using times of approximately 2 hr. While it is true that the rate of evolution drops nearly to zero under these conditions, it has repeatedly been shown that the process is incomplete since on raising the temperature into the austenitic range, evolution will be resumed, usually after a considerable induction period. The low-temperature evolution process appears to be useful in some cases for comparative tests where the residual error may be more or less constant between samples. For general use, however, there is no guarantee that the error caused by incomplete extraction is constant; hence, the more laborious but more reliable high-temperature process must be used. At high temperature, an original flash evolution, similar to that at lower temperature, is first observed. After not more than an hour, the flash subsides and evolution settles down to a regular first-order reaction rate for which the half-life* is usually of the order of a few hours for the 5/8-in. diam cylinder at 1050°C. The regular evolution may be followed for whatever period appears justified, after which the residual gas may be estimated as equal to that which was evolved in the last observed half-life period. Tests have shown that the composition of the evolved gas does not vary greatly during the progress of evolution; therefore the residual gas may safely be taken to have the same composition as the portion col-

Jan 1, 1948

By Elizabeth L. Robinson

INTRODUCTION The financial structure of the mining industry has changed strikingly over the last thirty years. The changes that have taken place in the last ten years include both the acceleration of adverse trends in familiar balance sheet numbers and ratios, and the subtle but extensive increase in the complexity and diversity of funding sources, both on and off the balance sheet. The objectives of this paper are: 1. to briefly trace the evolution of trends in the mining industry's financial structure; 2. to focus in more detail on changes in the last decade; and 3. to analyze those trends both within the framework of capital structure theory, and in the context of changes in business and economic conditions. This survey focuses primarily on the mining companies listed on the major U.S. stock exchanges, since financial data for these firms are readily available. The producers of minerals are a diverse lot, however, and the quantitative data on "the mineral industry" as characterized in this survey fails to encompass the financial arrangements for the bulk of production worldwide, whether owned by governments or private-sector enterprises. Even large portions of the U.S. minerals industry - subsidiaries of still larger firms, medium-sized privately-held companies, and the small miners - were not included in the quantitative part of the analysis. THE EVOLUTION OF THE INDUSTRY'S FINANCIAL STRUCTURE In the aftermath of the business failures of the Great Depression, most borrowers and lenders considered minimal debt on the balance sheet the soundest policy. By the 1950's, however, a body of literature was developing which demonstrated that the use of leverage could improve the value of the firm, given a corporate tax structure which allows interest, but not dividends, to be deducted from income. Optimal Capital Structure The objective of undertaking a new project is to improve the wealth of the current owners of the firm. If internally-generated funds are insufficient to allow growth at the desired rate, the company can raise funds either by issuing new equity, or by incurring debt. The most attractive source is the one which will provide the funds for the lowest cost. Both stockholders and lenders expect to receive compensation for use of their funds at a rate which reflects two things: (1) the return they could earn in alternative investments, and (2) the riskiness of the projected return. Factors which increase business risk include the variability of demand, sales prices and input prices, and "operating leverage", or the proportion of fixed to variable costs. In addition, from the investors' point of view, the use of financial leverage concentrates risk onto the shareholders, because lenders enjoy a prior claim in the event of bankruptcy. So although financial leverage can increase a project's expected rate of return, and therefore, presumably, earnings per share, too much debt will be perceived as uncomfortably risky by equity investors, and have a negative effect on stock prices. In theory, then, there should be an optimal level of debt which the firm's managers should seek to obtain in its financial structure. The desirable proportion of debt should in general be lower for a firm with a higher inherent business risk. In addition to their own judgement, financial managers are sensitive to the attitudes of lenders, rating agencies, and investment bankers in setting financial targets (Scott and Johnson). In practice, financial structure will also depend upon the company's growth rate and level of profitability, and conditions in the capital markets at a given time.

Jan 1, 1985

By AIME AIME

COMMITTEE No. 2 of the Iron and Steel Institute b f Great. Britain has presented its first report, of 27 printed pages, on blast-furnace plant and practice. This report outlines the various features of modern blast-furnace practice with brief comments thereon, and with references to some of the more recent methods devised for applying the principles and attaining the purposes aimed at' under these headings.. In general, the trend in the United States is in the direction of larger and larger furnaces with ever increasing capacity from which, with improved details in methods and equipment, and attention to details of management, considerable progress in. economy of production has been attained, in fuel consumption and in other items of production cost.

Jan 1, 1929

By L. R. Grabill

The Bassick mine, located six miles east of Silver Cliff, Colorado, has, ever since its discovery, been noted for peculiar features. Some of these characteristics exist in one or two other mines, while some are entirely unique. Among these peculiarities I have selected the most noticeable for treatment in this paper: First. The methods of deposition of the ores, which is not, as in ordinary veins, in strata or layers parallel to the walls of the fissure. The ores are arranged in concentric layers upon detached and abraded fragments of the walls; each ore in a separate stratum, and always in the same place in the series. Second. The characteristics of the fissure or opening; its shape and dimensions; its contents, or the vein-filling; and its verticality. Third. The peculiar products of the mine. The most noticeable of these products is charcoal, which is occasionally, and at long intervals, found throughout the ore-body, and in the surrounding conglomerate, from the surface down to the present depth, which is something over eight hundred feet. The existence of charcoal here is, as far as I know, the only instance of its discovery in mines of metallic ores. Fourth. Besides the charcoal, there are other products, in themselves not peculiar, whose manner of arrangement and composition are unusual. The mine is situated near the centre of a small rounded hill of eruptive trachytic rock and feldspathic conglomerate. The diameter of the base of this hill varies from 700 to 1200 feet, and its height is 200 feet above the general level. A cliff or outcrop of fine conglomerate is exposed on the southwest side of the hill. On the northeast it joins by an upward slope the fine-grained, hardened feldspathic paste of Mount Tyndall, which rises 600 feet higher, and of which the elevation containing the Bassick mine thus forms an arm. On visiting the mine, one's attention, whether he is a scientist or not, is immediately attracted by the unusual method of arrangement of the ore. It is seen to be disposed in concentric layers around fragments of trachyte. These fragments, of which each one con-

Jan 1, 1883