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WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 6 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and 6le this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. 11. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council; that the under- signed are all members of said Council as the same was constituted on the 29th day of December, 1904.

Jan 1, 1934

CERTIFICATE OF INCORPORATION [AMENDED Nov 22, 1912, AND JUNE 27, 1919 ] WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 5 of Article I of said law, the existing unincoiporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and file this Certificate for that purpose, and do Certify as follows I That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained II That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council, that the undersigned are all members of said Council as the same was constituted on the 29th day of December, 1904

Jan 1, 1923

WE the undersigned, being all persons of full age and citizens of the United States and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 5 of Article I. of said law, the existing unincorporated association known as American Institute of Mining and Metallurgical Engi¬neers, Incorporated, do hereby make, acknowledge and file this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. II. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council; that the undersigned are all members of said Council as the same was constituted on the 29th day of December. 1904.

Jan 1, 1938

WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 6 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and 6le this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. 11. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council; that the under- signed are all members of said Council as the same was constituted on the 29th day of December, 1904.

Jan 1, 1941

WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 6 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and 6le this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. 11. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council; that the under- signed are all members of said Council as the same was constituted on the 29th day of December, 1904.

Jan 1, 1944

WE the undersigned, being all persons of full age and citizens of the United States, and a majority residents of the State of New York, desiring to form a corporation pursuant to the provisions of the Membership Corporations Law for the purpose of incorporating, as provided in Section 5 of Article I. of said law, the existing unincorporated association known as American Institute of Mining Engineers, do hereby make, acknowledge and file this Certificate for that purpose, and do Certify as follows: I. That the American Institute of Mining Engineers is an unincorporated association organized and existing with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained. II. That the persons duly appointed or designated to manage the affairs of said association are designated by the rules thereof Members of its Council; that the under-signed are all members of said Council as the same was constituted on the 29th day of December, 1904.

Jan 1, 1934

By A. Springer

Chemists, physicists and others, whose occupations necessitate the use of fine scales, have heretofore regretted their inability to obtain any which would remain uniformly accurate. The difference between the theoretical and the actual results obtained in the ordinary balance (provided the pivot-distances are exact) is mainly due to the frictional resistance between the knifeedges and their bearings. This frictional resistance, although reduced to a minimum in the finest scales when new, constantly increases, thereby decreasing the sensitiveness proportionately. When examined under the microscope, neither the surface of the knife-edge nor that of' its hearings ever appears perfectly smooth. Soft kunife-edges are easily blunted, whereas hard ones are brittle and liable to crumble under the effects of over-load or shock. Prof. Frederick A. Roeder for many years attempted to discover some means by ,which the knife-edge could be replaced with some device free from the above-mentioned objections. His experiments convinced him that a torsion-joint was best suited for that purpose. After he had communicated his conclusion to me, we jointly developed the system to its present form. A torsion-wire had been used for the centre of rotation, prior to Prof. Roeder's invention, but it was found impossible to replace the terminal knife-edges with torsion-joints.

Jan 1, 1884

By William L. Zeller

IN the past 75 years industrial engineering has been highly developed in many fields, but the coal mining industry has just begun to realize its potential for cutting costs. To receive the maximum benefit, a company should apply industrial engineering from the time a new installation is contemplated, but the principles can also be used to reduce and control the costs of an established operation. One company that had been mechanized for seven years reduced its total labor cost 57 pct by industrial engineering. Of this reduction, 20 pct was brought about by a preventive maintenance, rebuilding, and scheduled lubrication program that eliminated 80 pct of the delay caused by mechanical and electrical failures. Thirty percent of the cost reduction was attributed to rearranging the work force into crews of the most effective size, changing working methods, and training all mine supervision in the principles of the cost reduction program. The remaining 7 pct reduction was brought about by a wage incentive program for all the men in the mine. The productivity of this coal mining operation was increased from less than 8 tons per payroll man to 20 tons. This increased productivity was brought about while using the same equipment, men, and supervision.

Jan 12, 1957

By R. W. Raymond

By the death of Prof. Pettee the Institute has lost one of its earliest, most distinguished, most useful and most beloved members. Among those who survive him there are few who have rendered services of equal professional value or unselfish devotion. The warrant for this statement will be amply furnished in the present brief notice of his life and work. William Henry Pettee was born, January 13,1838, at Newton Upper Falls, Mass., where hie childhood and youth were spent. His father, Otis Pettee, a manufacturer of cotton cloth and of cotton-mill machinery, died in 1853. Up to that time, the son had been educated mainly in the district school; but, being inclined by temperament and constitution rather to books and study than to physical exertion, he had been wisely rest,rained in mental activity, and required, for a season, to work regularly in the foundry and machine-shop of his father. Unquestionably, this discipline not only benefited his health, but also constituted a valoable preparation for his subsequent professional career. In 1857, after suitable preliminary study at various New England academies, he entered Harvard College, where he took high rank in the classical course then required, was selected in his Junior gear to deliver a Latin oration; was elected a mem-

Jan 1, 1905

By M. D. Cooper

FOr the purpose of obtaining some first-hand data in regard to the shooting clown of coal in bituminous 'nines, it was the writer's good fortune to be employed as a shot-firer for almost one year. In all, 6,020 shots were fired by him during this period. All of the work was clone in what is known as the South Main section of the No. 2 Mine of the Ellsworth Collieries Co., Ellsworth, Pa., a subsidiary of the Lackawanna Steel Co. Position of Shot-firing in the Cycle of Operations The established practice of the Ellsworth Collieries Co. calls first for the undercutting of the coal by electric chain machines across the face of the entry or room. This is followed by replacing any posts removed by the machine-runners, or the setting of new posts or timber, as may be required. After this has been done the machine cuttings are loaded into cars. Then the coal is spragged, and a shot hole drilled to the depth of the undercut. Next in order, the shot-firer loads the hole and fires the charge. The working place is then cleaned up, timbered if necessary, the sides and face squared up, and loose material taken down. The face is again ready to be undercut.

Jan 1, 1917

By A. B. Parsons

Not so many years ago the interest of the average mining engineer in money matters-aside from his pay check or his consulting fees-was confined to the per-ton cost of mining and beneficiating ore and to the amount of capital that would be required to erect the plant necessary to carry out such operations on a prescribed scale. The so-called "business men" assumed that questions of marketing the products, of profits, and of dividends were in their exclusive sphere-matters too intricate or, perhaps, too practical for the mere engineer! In the case of a new enterprise, the promoter shouldered the entire responsibility for raising the necessary funds, and incidentally he got the lion's share of profits. In fact, he frequently profited handsomely even though the mine earned little or nothing. Occasionally the engineer turned promoter or entrepreneur--conspicuous examples are Herbert Hoover, D. C. Jackling, William Braden and F. W. Bradley- but by and large he remained in a sphere of his own. To what extent this condition of affairs has changed is difficult to say. It might be argued that it were better that it be not changed; and yet I cannot help feeling that in mine promotion lies a distinct opportunity for the

Jan 1, 1932

By AIME AIME

SOMETIMES family backgrounds have a deep, if not direct, influence on a man's lifework. Dean Callen's paternal grandfather came from Wales and was a mine official in the Pennsylvania anthracite field: his maternal grandfather was a retail coal dealer. His father and uncle began their careers a. breaker boys but later completed their educational work and ended up in the professions. With that background, and with the slate region ( Pen Argyl, Pa.. July 1;. 1888) as his birthplace it is not strange that "Cope" Callen became a teacher of mining engineering. Graduating from Lehigh with an E.M. in 1909, lie taught there for two years while working for his master's degree. In 1911 he returned to teaching, going to the University of Illinois as instructor in mining engineering. In 1917, he was called to West Virginia University as head of the department of mining engineering and director of mining extension. The extension work was about dead. bus a new staff was built and the six-weeks' short course in coal mining was revamped into an attractive and efficient course which has grown in popularity with the years. Callen's work attracted the attention of the Federal Board for Vocational Education and in 1919 he was invited to serve that board as special agent for mining, taking a six-months' leave front the University.

Jan 1, 1944

By Ken-ichi Hirano, B. L. Averbach, Morris Cohen, N. Ujiiye

The influence of plastic deformation in compression on the self-diffisivity of a iron has been measured in the temperature range of 742º to 885°C. The diffusivity is enhanced in proportion to the strain rate, but this dependence decreases with increasing temperature. The magnitude of the strain is relatively unimportant in this connection. Strain rates from 0 to -2 x 10-3 sec-1 were investigated, with a corresponding increase in diffusivity up to 3 x 103 times. The results are analyzed in terms of vacancy diffusion and the excess vacancies introduced during dejornzntion. It is concluded that grain boundaries are the main vacancy sinks in polycrystalline iron and that the vacancy lifetime is therefore dependent on the grain size. A typical vacancy lifetime at 800°C with a nzean grain-boundary intercept of 0.3 cm is of the order of 1 sec. LATTICE imperfections are considered to be the dominant mechanism of diffusion in close-packed crystals. Vacant lattice sites are usually the most important defect, but the enhancement of diffusion along grain boundaries and other short-circuiting paths has been well documented. Inasmuch as plastic straining produces a variety of defects, it would be expected that the application of stresses sufficient to cause plastic flow during a diffusion run might result in an increase in the self-diffusivity. Enhanced self-diffusion in a iron under compressive creep has been observed by Buffington and Cohen' and subsequent coworkers.2 Lee and Maddin3,4 have also found an enhancement in the self-diffusivity of silver single crystals undergoing torsional deformation. On the other hand, Darby, Tomizuka, and Balluffi5 have not observed any significant diffusion increase in single crystals of silver deformed either in tension or in compression, although the results in this case may have been affected by the occurrence of recrystallization. With poly crystalline silver, however, Forestieri and Girifalco6 have found en- hanced diffusion during compressive creep. A small decrease in the self-diffusivity of zinc single crystals under compressive loading has been reported,7 but the applied stresses in these experiments were too low to cause appreciable plastic deformation. For the cases in which enhanced diffusion has been found, a number of common effects have been noted. Usually, the ratio of the diffusivity during straining, Ds, to the diffusivity in the unstrained condition, D,, varies linearly with the strain rate, and does not seem to be a function of the plastic strain, at least up to ? = 0.2. Values of Ds/Du of the order of 100 have been reported'-4 but the enhancement decreases with increasing diffusion temperature. The activation energy for diffusion decreases markedly with increasing strain rate and approaches a level of roughly one-half the unstrained value. Most of the current explanations of these observations assume that excess vacancies are generated by the deformation, but rather large concentrations of excess vacancies and/or long lifetimes are required by these theories.',',',' Since the original work on iron, there has been an important improvement in the compressive-loading technique.2 The early data were also analyzed without taking into account the motion of the coordinate system in the specimens undergoing plastic deformation. This problem has now been solved by a number of investigators (see Refs. 11, 12, and the appendix of the present paper). Consequently, the strain-diffusion runs on iron for the Ds measurements were repeated and extended over wider ranges of temperature and strain rate. In addition, the original diffusivity data9 on the unstrained iron have been corrected for the divergence of the beam in the counting system and new data points have been added, resulting in somewhat different values for the self-diffusi-vities in a iron.10 The new values for Du are used in this paper. A comparison of Ds and Du confirms the large enhancement in the self-diffusivity of iron during compressive creep, as previously reported.',2

Jan 1, 1963

By I. Ionel Gardescu

During the latter part of 1930 an agreement was reached among operators in Rumania to curtail the production of oil to about 100,000 bbl. per day. This agreement lasted only a few months and 1931 shows a new peak in production with an average yield of 136,900 bbl. per day as against an average of 116,600 bbl. per day for 1930. The total production for 1931 was 49,210,000 bbl.; an increase of 18.4 per cent over the previous year's production. It is interesting to compare the percentage production of the major companies to the potential production figures determined by the Government in September, 1930 (Table l), on the basis of which the proposed curtailment was to have been made. The three companies listed first in this table show an increase in average production for 1931 over their estimated potential production rating. This increase might be attributed at least in part to the recent development of the Boldesti field, which is controlled by these companies and of which the production at present is nearly 10 per cent of the total oil output for Rumania. Among the other fields, Moreni still holds first place with an output of 33.6 per cent, followed by Gura-Ocnitzei with 29.3 per cent. In both these fields the main source of oil is from the deeper Meotic sands. Other

Jan 1, 1932

By G. C. Hancock

The operating plant of The Broken Hill Associated Smelters Pty. Ltd. is situated at Port Pirie in South Australia and it treats to finality the whole output of lead concentrates from the mines of The Zinc Corporation Ltd., North Broken Hill Ltd., and aroken Hill South Ltd. at Broken Hill, New South Wales. Lead bearing ores from other sources are also purchased for treatment and lead scrap and residues are treated on a toll charge basis. The present output of the plant is approximately 200000 tonnes of refined lead per annum and there is a substantial production of by-products including refined silver, gold, cadmium, antimonial lead alloys, copper matte and sulphuric acid. Recently the Company commenced the production of zinc by slag fuming and electrolysis from a six million ton dump of lead blast furnace slag, which has been accumulating at Port Pirie for over fifty years. The slag fuming plant contains two furnaces of conventional design, but features a high degree of pre-heat for the blast air and this is obtained by the use of all-metal recuperators. The raw zinc oxide fume produced by the plant is roasted in a rotary kiln prior to treatment in the leaching and electrolysis sections, which follow conventional practice for nigh current density plants. Present output is approximately 36000 tonnes of electrolytic zinc per annum.

Jan 1, 1970

R. W. Raymond, New Pork, N. Y.:—I think Mr. Bache has put his finger on the chief source of the danger of dust-, or gas-and-dust, explosions in collieries. 1 mean the persistent determination of the miners' unions to increase their weekly wages by the excessive use of explosives. This would not be feasible if coal-miners were paid by the day; but this form of payment is, for many reasons, not economically practicable; and the universal practice is to pay for the winning of coal according to the quantity produced. If the miner, by using a large amount of powder, can throw down a large amount of coal without corresponding labor on his own part in undercutting and drilling, he will receive more money for less work, provided he is paid for everything—merchantable coal, worth-less dust, slate, and " bone "—resulting from such a method. My attention was called to this matter many years ago by an admirable report of Prof. W. B. Potter, a past- President of the Institute, on the conditions obtaining in this respect in the Illinois coal-field. It was made very clear in that report that considerations of danger to workmen or loyalty to employers could not be relied upon to prevent miners from employing this perilous and wasteful method of increasing their own immediate receipts. So far as I know, only three remedies have been attempted, namely: the enforcement of discipline as to the methods of mining; the refusal to pay for dust, etc., produced by the miners'methods; and restriction upon the use of explosives, effected by requiring the miner to purchase them from the employer, at a price so high as to make it unprofitable for him to use them in excess. All of these attempted remedies have encountered the bitter opposition of the miners' unions. The enforcement of discipline has become almost impossible, if discipline be (as it should be) understood to involve punishment for the violation of rules when no disaster has followed. I

Jan 1, 1910

By N. G. W. Cook

The conventional cyclic system of deep-level mining by drilling and blasting gives rise to an inadequate degree of stope sorting when mining thin reefs. This results in poor utilization of the capital facilities of a mine in the form of shafts, haulages, airways, and associated equipment. Continuous and controlled removal of the thin gold-bearing portion of the reefs would permit better stope sorting and hence greater utilization of capital facilities. Results of experiments to develop hard-rock cutting machines for mining are reported and the benefits which could be derived from their use are discussed. Mining, from exploration through refining, is essentially a process of sorting in which the payable mineral, or metal, is progressively separated from the other constituents of the earth's crust with which it was originally associated. This takes place more distinctly at each step of the operation. What is it that determines the degree to which sorting should be carried out at each of the several steps comprising a whole mining operation? The formal answer is that degree of sorting at each step which results in the lowest overall cost for the complete separation. In practice, individual steps are chosen from those available in current technology, each of which effects a degree of sorting such that the quantity of material which must be sorted in the succeeding step is economically acceptable. It follows that any new technological development has repercussions throughout the whole mining operation and, more important, that the solution to excessive costs in any one step of the operation may lie not in improving the costly operation itself so much as in increasing the degree of sorting preceeding that operation. This concept, particularly in relation to deep-level mining of thin, tabular gold-bearing reefs in South Africa, is discussed here, and the most recent results achieved in the development of hard-rock cutting machines for stoping more selectively than is possible with explosives are presented. Deep-Level Mining Deep-level mining involves operations which are either not encountered, or are of only trivial importance, in near-surface mining. Near-surface, the major operations are those of rock breaking, transport, and milling. In deep-level mining, hoisting, environmental control, and strata control assume major importance. Some idea of the relative magnitude of these operations may be gained by comparing the separate amounts of energy which are required, or which must be controlled, to effect the various operations when, say, mining a tabular deposit 40 in. thick at 8000 ft below surface, Table 1. It is true that the costs of handling a given quantity of energy are not the same for each operation. Nevertheless, Table 1 does emphasize the fact that the operations of hoisting, strata control, and environmental control are of unique and major significance in deep-level mining. In particular, hoisting and environmental control place a heavy load on the reticulation system of the mine—the shafts, haulages, and airways. Typically, a new, deep gold mine with an annual revenue of about $35 million requires a total capital expenditure of about $140 million of which some $100 million is invested in developing and equipping this reticulation system. The ratio between annual turnover and capital invested of about one-quarter is exceptionally low, and it typifies the poor utilization of capital by the current technology of mining hard rock at depth. The average thickness of the reefs in the new South African goldfields varies from 10 to 30 in.,l and even in the thicker reefs the gold is often confined within a small fraction of the nominal thickness. Nevertheless, it is universal practice to mine these reefs at a stope width of about 40 in. or more, so that the quantity of rock broken in the stopes and hoisted out of the mine is between two and ten times the quantity of rock actually carrying a significant amount of gold. The reason for the adoption of such excessive stope widths is to be found in the method of rock breaking by drilling and blasting. The only free surface to which a blast hole can break is the stope face. It follows2 that each hole cannot have a burden in excess of the height of the free face if it is to break satisfactorily. To

Jan 1, 1971

ROBERT PEELE, New York, N. Y. (written discussion *).-This excellent paper is one of a number of recent detailed descriptions of the, methods and plant in use at prominent mines of the country. The publication of such papers cannot be too highly praised. In the past, the interchange of inside information has often been hampered by the disinclination of some mining companies to permit publication of details of their work. These companies apparently have not realized fully that free discussion is of mutual benefit; that members of mine staffs are aided in. keeping up to date, in improving old methods and devising new ones to meet changes in conditions, and, by a wholesome feeling of rivalry, are stimulated to introduce economies and do better work. In writing this paper, Messrs. Haight and Tillson have packed a large amount of information into a relatively small space, and the numerous illustrations, chiefly reductions of working drawings, are valuable. The authors are also to be commended for their highly detailed Table of Contents, which adds to the usefulness of the, subject matter. The method of mining at Franklin does not fall readily into any of the accepted classifications. It is a combination of shrinkage stoping and mining of the pillars by a modified top-slicing method. Attention may be called to the fact that, in the wider parts of the orebody, the stopes, 17 to 18 ft. (5.2 to 5.5 m.) wide are transverse; in the narrower parts, they are longitudinal, that is, in the direction of the' strike. This varia-tion is made necessary by the shape and character of the deposit, and distinguishes practice at Franklin from that in some of the western mines. The direction of the stops is changed from transverse to longitudinal when the orebody narrows sufficiently to make the length of a transverse stope approximately equal to its width. Some of the longitudinal stopes exceed 120 ft. (36 m.) in length, and when the hanging wall is bad, requiring prompt filling, three operations' proceed simul-taneously in the same stope, viz., ore is broken at one end, while drawing down goes on in the middle, and filling at the other end. Each transverse stope or chamber is begun by a crosscut from foot to hanging wall, which is afterward enlarged to the stone width and to a height of 12 or 15 ft. (3.7 or 4.6 m.). This preliminary work is done only once for each stope, because the stope is carried up far enough to continue stoping

Jan 1, 1918

By Charles L. Elliot

Worldwide manpower utilization reached a new high at 10,482 professional man-months and expenditures increased to $19.9 million for mining geophysical activity during 1965. This is up from 9323 man-months and $14.5 million in 1964. Worldwide geophysical activity measured in percent distribution of the total manpower utilization and expenditures is presented in the accompanying Figs. 1 and 2. In terms of the total manpower utilization, ground surveys accounted for 61%, airborne surveys 18%, and mining geophysical research activity 21%. For expenditures, the breakdown was ground surveys, 49%; airborne surveys, 3901o; and research, 12%. Industry was responsible in general for 74% of the manpower utilization and 80% of the expenditures. Manpower costs in 1965 averaged $1900 per professional man-month.

Jan 11, 1966

W. 0. HOTCHKISS, * Madison, Wis.-It was fortunate, in a way, that this subject of income taxation came up during the war when the government could appeal, on the basis of patriotism, to men of large, business experience to undertake the work of formulating this matter and practically donate their services. At any other time the government would have been unable to secure the necessary number of men of like ability. There is one thing that must not be forgotten. In all cases, except the very largest and most important, the application of this income tax law to a mine is going to be made by clerks whose salaries are fixed by a Congress that appropriated a half billion of dollars for a war purpose and provided that $4000 should be the highest salary paid in the adminis-tration of that great sum. The Congress of the United States unfor-tunately seems almost entirely unaware of the fact that men of ability and experience are worth money and must be paid adequately if proper public service is to be secured. While the formulation of the broad plans for administering the law have been in the hands of. men of unusual ability, we have the future to guard, and, if possible, the mining industry should see to it that the Internal Revenue Department is permitted by Congress to pay salaries that will enable it to secure men of the ability and experience necessary to insure proper consideration of the industry. Another fact to which I would call attention is the difference between the business and the economic, or economists', points of view as to what a mine is. The economists have properly, from their point of view, classed a mine as a wasting asset, but the average metal mine is not a wasting asset if it is a real mine. The economists are correct in a broad sense in that every ton of ore taken out diminishes the orebody by that amount. When it comes to the consideration of an individual mine from the business standpoint, the future of that mine rests on unfore-seeable events-the discovery of new orebodies or the development of old bodies beyond the point of probable expectations. Every going mine must develop new ore each year to replace that extracted, and, .during all but the last one or two years of its activity, actually does so. Instead of being a "wasting asset" such a mine, from the practical stand-point which must control valuation, is an "increasing asset." From

Jan 12, 1919