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By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By A. Galibois, M. Fiset, T. Vo Van

"RÉSUMÉUn groupe de 22 objets prov enant des Forges du St-Maurice a été étudié de façon systématique par analyse chimique et examen métallographique afin de préciser leurs caractéristiques et d'en évaluer la qualité métallurgique.La plupart des échantillons de fe r forgé et d'acier sont hétérogènes tant au niveau structural que composition chimique. L'examen de quelques produits fin is a mont ré qu 'on appliquait des traitements superficiels bien que le contrôle métallurgique fût plutôt empirique.AbstractA group of 22 specimens originating from ""Les Forges du St Maurice"" has been systematically studied by chemical analysis and metallographic examination in order to determine their characteristics and to evaluate their metallurgical quality.The bulk of the forged iron and steel samples are heterogeneous from both their microstructure and their chemical composition. Observation of a few finish products has permitted to establish that surface heat treating was applied although its metallurgical control was rather empirical."

Jan 1, 1984

By W. W. Adams

With production of coal per man-hour of work at a higher level than ever before, the coal-mining industry of the United States established a near-record in lowering the accident rate of nonfatal injuries per million man-hours of exposure in 1940, the injury rate being lower, except for 1939, than in any year since 1930, the first year for which comparable figures for nonfatal accidents were collected by the. Bureau of Mines, United States Department of the Interior. The rate for fatal accidents, on the other hand, was not as low or favorable as in 1939, nor was it as low as in many years since 1910, the earliest year for which fatality rates were complete for all coal-mining States. Accident and employment reports received from mine operators and fatal-accident reports from State mining departments and inspectors showed that 533,267 men were employed at coal mules in 1940, exclusive of the number employed at coke ovens, Although this number represented 6,108 fewer employees than in 1939, a large increase was made in the volume of work performed and in the quan¬tity of coal produced. In 1940 the amount of labor performed at coal mines was 748 million man-hours, a gain of more than 10 percent over the previous year. The average employee worked 199 days, an increase of 20 workdays per man. Production of coal was nearly 513 million tons, an increase of 14 percent, of which more than 461 million tons was bituminous coal and more than 51 million tons was Pennsylvania anthracite. Accidents to mine workers caused the death of 1,388 employees; in addition, 59,781 employees were injured, and each injury resulted in disability of the employee for more than the remainder of the day on which the accident occurred.

Jan 1, 1942

By Michael Mancuso

This report summarizes the problems of topsail handling as related to present requirements of law and current equipment availability. The most prevalent topsoiling systems are reviewed along with a listing of advantages/disadvantages and best features of each system. Seven mining regions are included, along with an analysis of prevailing land use, types of soils and attendant physical, chemical am biological characteristics. There are several probable areas of future research "lined which can benefit mining, minimize the social impact of mined lands and speed the return of mined lands to more productive long-term use.

Jan 1, 1981

By AIME AIME

THE John Fritz Medal Board of Award, at its annual meeting on Jan. 21, 1921, awarded its gold medal and diploma to Sir Robert Hadfield for the invention of manganese steel. On June 1, announcement was made that the Board of Award had awarded its gold medal and diploma to Charles Prosper Eughe Schneider for "achievement in metallurgy of iron and steel; for development of ordnance, especially the 75-mm. gun, and for notable patriotic contribution ' to the winning of the war." The award to Sir Robert Hadfield is for the year 1921; the award to Mr. Schneider is for 1922. The latter was made at this time in order that the medal might be presented by the group of American engineers now visiting England and France.*

Jan 1, 1921

By David Conover

Technological advancements in electronic sensors and mine-wide monitoring systems have improved remote monitoring and analysis of underground mining information. The effective use of . these systems for ground control applications, however, remains a challenge facing the mining industry. The U.S. Department of Interior, Bureau of Mines is conducting research, utilizing real-time acquisition of rock mechanics data, to provide mine operators the means to rapidly identify and manage potentially hazardous ground conditions. The Bureau has installed a remote monitoring network in a Colorado coal mine to record Pressures from instruments installed in the roof and pi1lars of gateroads and from transducers on shield-legs along the face. The field data are being monitored at the Denver Research Center, 150 mi from the mine. A computer at the Center analyzes the field data and generates graphic displays, which permit detailed examination of mine-wide ground conditions in real-time. For the first time, Bureau researchers are able to perform real-time monitoring and analysis of rock mechanics data while mining is in progress. The data collection and display capabilities of the system were effectively used to identify and evaluate face stability problems at the mine.

Jan 1, 1990

By George I. Adams

PHYSICAL AND CLIMATIC DIVISIONS. PERU is divided into three regions-the coast, the sierra, or high mountainous region, and the a montana," or forest region of the Amazon basin. The Coast.-The coast is an arid region. No rain falls excepting in the extreme northern part, which borders the Gulf of Guayaquil. There is, however, a slight precipitation in the form of mist (garua), which occurs on the coast hills during the so-called winter months. The aridity of the coast is due principally to the antarctic or Humboldt ocean-current, which, being cold and having a temperature lower than that of the land, absorbs rather than produces vapors. The coast mists occur during the season when the land is relatively cold. Near the Gulf of Guayaquil the antarctic current diverges from the coast, so that in the Tumbes valley and adjacent country the conditions in the summer months are such as produce rains. In the remaining valleys of the coast, agriculture is made possible only by means of irrigation, and is accordingly very limited in extent, although rich and varied. In the northern and south-central portions of the coast, plains extend inland from the sea, while in the southern part there is a coastal plain separated from the Pacific by a range of coast hills. Between the northern and south-central plains, as well as between the south-central and southern, the foothills of the sierra descend to the seacoast. The Sierra.-The sierra embraces the high land dominated by the lofty cordilleras of the Andes. In the southern part of Peru there are two cordilleras, the western and the eastern, which enter from Chile and Bolivia respectively, and inclose between them the Titicaca Lake basin. To the north of Lake Titicaca these cordilleras unite in the knot of Vilcanota, south of Cuzco. From this knot three cordilleras, known as the western, the central, and the eastern, extend to the northward, reuniting in the

Jan 7, 1908

By AIME AIME

WITH the recent increase in the price of gold, its economic recovery at depths formerly considered impractical has become a present possibility. Two important difficulties must be met: pressure bursts of the rock, and the reduced efficiency of human labor subjected to the higher temperatures and the increased humidity at the greater depths. In the following abstract of a paper by J. H. Dobson, presented before the South African Institution of Engineers on

Jan 1, 1935

This briefing was sponsored by the Bureau of Mines to summarize ongoing and recently completed chromium-chromite research and resource assessment activities by the Bureau. Through the series of 18 presentations compiled herein, Bureau personnel covered a wide range of topics including U.S. chromite and chromium trends and usage patterns; foreign and domestic resources; and research activities on mineral characterization and beneficiation, chemical and pryometallurgical processing of chromite and chromium-bearing wastes, new low-chromium alloy and coating substitutes, corrosion- and oxidation-resistant stainless steels, and chromium-containing refractories.

Jan 1, 1986

By W. N. Patterson

The three major objectives of this contract were (1) to survey underground diesel-powered mining machinery to determine noise exposure problems, (2) to recommend noise control techniques, and (3) to develop a technique for predicting underground sound levels from surface sound power measurements. The objectives were achieved. The contractor developed information on the severity of the noise problem caused by diesel engines underground and pinpointed the equipment causing the problems. He recommended a number of corrective techniques that can provide relief until long-term solutions are found. A procedure for predicting underground noise levels from above-ground measurements of the machine noise was found valid for several cases tested.

Jan 1, 1975

By S. D. Dladla, S. Ramsamy

The majority of the tailings dam operations in South Africa will be required to comply with the new Global Industry Standard on Tailings Management (GISTM) within the next one to three years, depending on the dam classification and the requirements of the respective investors and insurers. With up to 72 auditable requirements, the implementation of the Standard needs careful planning and prioritization. This paper focuses on the practical steps to GISTM compliance for tailings facilities in operation in South Africa. The discussions are based on current practices, South African regulations, and industry standards requirements. The possible changes in dam classifications and the associated requirements are presented.

Jun 2, 2022

By Bradford F. Townsend, Matthew E. Fowler, Michael F. Smithson, Lawrence R. Eckert

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2010

By Matheus Teixeira Fraga

É comum o uso de modelos matemáticos no intuito de prever a qualidade do coque, sendo a maioria dos modelos atualmente disponíveis baseada nas propriedades dos carvões. Para este trabalho foram feitas misturas binárias e ternárias de carvões com variados teores de matéria volátil, a fim de se produzir coque em escala laboratorial. A reatividade ao CO2 em termobalança e resistência mecânica em tambores foi avaliada. Dois modelos para previsão de indicadores de qualidade do coque foram avaliados, o modelo aditivo e o modelo de interação. A partir da metodologia desenvolvida em laboratório foi possível produzir, avaliar e comparar coques feitos a partir de diferentes carvões e misturas. O modelo aditivo mostrou uma boa capacidade de prever a reatividade dos coques. No entanto, para os índices derivados dos testes de tambores os valores calculados mostram uma diferença importante em relação aos experimentais, indicando interação dos carvões no processo de carbonização. Nos resultados do modelo de interações, os valores calculados para reatividade e resistência mecânica, se comparados com os resultados do modelo aditivo, mostraram uma melhora na capacidade de previsão da qualidade do coque. O modelo de interações se apresenta como uma ferramenta interessante na seleção e mistura de carvões.

Aug 17, 2017

By Jennifer Riefenberg

Research efforts by the U.S. Bureau of Mines include running a series of displacement-discontinuity, boundary-element models to simulate the gateroad design at an underground coal mine in northwestern Colorado. The initial mine design is a yield-abutment chain pillar arrangement in a three-entry, longwall gateroad system. Pressure effects from mining the first and second panel were recorded using borehole pressure cells (BPCs). These field data were then compared directly to the model output. Observed yielding in the field was approximated by reducing material property values and/or removing pillar elements in the model. Model results using this calibration technique mirrored the field measurements consistently. Using the calibrated model parameters, a suite of models was run simulating an experimental entry design: exchanging the yield and abutment pillar locations. These model results reflect a 20¬to 33-percent reduction in core stresses in the yield pillar during mining of the second panel. Improved pillar and entry conditions are suggested by these predictive results. The design modifications were then implemented at the mine along a 150-m (500-ft) test section. Field observations and measurements from the experimental design test site compared favorably with trends of the model predictions.

Jan 1, 1993

By Leslie C. Richards

Sooner or later the potential miner of industrial minerals reaches the conclusion that of the various factors he must consider, the marketing of his product is. the most important. The sooner he realizes this the better, as successful industrial mineral producers .will confirm. Herein lies a difference between i.ndustria1 mineral mining and metal mining. Often in the latter, technical problems of mining or concentrating are equal to or even surpass those of marketing. This is not meant to imply that there are no problems in mining and beneficiation of industrial minerals, but these usually are outweighed by the problem of marketing. Recentlv. an official of a nationally known corporation :i the elecl.ro-metallurgical industry made an industrial mineral survey in the Pacific Northwest. In the course of his investigation he interviewed producers and potential producers of the various industrial minerals scheduled for use in the plant now being constructed in this area. He stated that he was interested in only three factors: namely, (1) Can your product meet our specifications? (2) Are you able to supply our tonnage requirements? and (3) What will be the delivered price? If there are several sources of supply of sufficient grade and tonnage, as is often the case in the Northwest, then the third factor becomes the important and deciding one. While industrial minerals are usually sold f.0.b. cars with the freight being paid by the buyer, it is the delivered and riot the f.0.b. price that determines the competitive position of the producer and his industrial mineral product. Unfortunately for both the consumers and producers of industrial minerals in the Northwest, the sources are generally a considerable distance from the markets. This necessitates long rail hauls, for which transportation charges make up the largest share of the delivered cost and the delivered price of the product. Is it any wonder then, that rail rates play such an important part in the marketing of industrial minerals? In order to sell his product, the producer must be able to deliver to the market at a competitive price. It must be remembered that his largest cost factor is rail transportation, and that he is limited to markets that he can reach competitively. Since the cost of rail transportation is so important, let us compare various freight rates in the Northwest and attempt to determine their influence on marketing. A study of all rates on all industrial minerals transported in this area, is beyond the scope of this paper. For the purposes of comparison, let us consider limestone (broken, crushed, or ground), and silica rock. These are widely used industrial minerals, and are carried by several different rail routes from.the sources of supply to the centers of consumption in the Pacific Northwest. Markets and Sources of Supply: Limestone has a number of uses in western Oregon and Washington. Among them are agricultural lime for the soils of the Willamette Valley and southwestern Washington; paper rock for the mills in such cities as West Linn, Oregon City, Newberg, St. Helens, and Salem, Oregon, and Camas and Everett, Wash.; chemical and metallurgical-grade limestone for the metallurgical plants centering around Portland, and the Tacoma-Seattle areas'; and sugar rock for the sugar refineries at Toppenish, Wash., and Nyssa, Oregon. Since limestone for cement manufacture is generally processed near the quarry, transportation

Jan 1, 1951

By Thomas C. Shapiro

This is the second in a series of articles on microcomputers and applications in the minerals industry. The first article (ME, Feb., page 129) discussed microcomputer terms and concepts. This article will discuss software for geology and mining. The third article will cover plant, administrative, and geotechnical software applications. Introduction Geology and exploration are areas where computers have a natural fit. Large volumes of data need to be tabulated, evaluated, and made into maps and reports that allow geologists and management to make a decision on a project or mine. Until recently, the programs that performed these tasks were cumbersome and not user friendly by any stretch of the imagination. Learning time to become an expert in these programs typically would be six months or more. The computers needed to run these programs are expensive mainframes. Several years ago, the use of minicomputers became popular because of their lower cost. Programs were adapted to fit these smaller machines and became friendlier. With the advent of micros, many programs. were rewritten and used the screen capability more effectively, thus providing a real advance in user interface. Programs and Price The definition of micro, mini, and mainframe is becoming blurred. For the purposes of this article, micro refers to either an eight- or 16-bit computer, costing less than $10,000 and, more typically, under $5,000. Mini refers to a 16- or 32-bit computer that typically costs more than $25,000. Mainframe refers to a 32-bit or larger computer that costs more than $250,000. There is a large gray area between micros and minis, and minis and mainframes. Technology and prices are changing so fast that the traditional definitions have become almost meaningless and price has become a better guide. With the arrival of the minicomputer, costs for hardware began to fall, but the programs have tended to remain unfriendly. In some cases, the minicomputer acted as a front end to the mainframe. Cost of both the programs and minicomputers could easily run a minimum of $70,000. A total cost of $200,000 would not have been out of line. The average geologist and company would have a great deal of difficulty justifying such a purchase. The advent of the microcomputer has changed all that. For $3,500 to $5,000, one can buy a 16-bit micro and a printer. Plotters with six pens are available for $2,000 that will produce a 280- x 430-mm (11- x17-in.) map. For several hundred dollars, software is available to act as a word processor, an economic spread sheet, or to perform ground water calculations. In fact, some programs are available for free. Some of these programs are relatively easy to learn. In addition, programs are being developed daily that are easy to use. More importantly, large programs that once ran only on mainframes are being converted

Jan 3, 1984

By AIME AIME

NEW place was assigned to the women for their headquarters at the annual meeting of the Auxiliary but they, as usual, occupied a large place in the activities of the annual meeting. The alcove on the Thirty-ninth Street side of the building was a busy place on Monday morning, as the members of the various sections from New York to California greeted each other. The registration was conducted under the supervision of Mrs. Wolfes, Miss Georgene Davis and Mrs. Jennings, while Mrs. Hursh, Mrs. Hyde, Mrs. Charlton Reynders, and others dispensed tickets to the various functions that had been provided for entertainment. There seemed to be the usual number registered, but when only one member of the District of Columbia Section made herself known everyone wondered why the large delegation of last year had so dwindled. The explanation appeared next day, when a number of others from that Section arrived, telling of a delightful reception on the night before, at the White House. Mrs. Hoover had honored the "Canaries"¬(the organization of Lone Girl Scout' workers) the officers of the Section, and their husbands, who for once became only "so and so's husband." Luncheon was served on the fifth floor on Monday, the hostesses for that day being Mesdames C. F. Ayer, Willis Burns, G. W. Farny, H. G. Moulton, and T. T. Read. A number of sight-seeing trips had been arranged for the afternoon. The most popular proved to be an expedition to the new Riverside Church; where Dr. Fosdick is pastor. Guides were there to conduct

Jan 1, 1931

By I M. Turnbull

QMAP (the Quarter Million Mapping Programme, 1:250 000 scale) is a geological mapping programme which will build a digital geological database of the whole country and publish maps and books to document it. The programme was established in 1993, following a recommendation by a review panel appointed by the Ministry of Research, Science & Technology, and is funded by the government, from the Public Good Science Fund. The relevance and fundamental value of QMAP lies in the greatly improved geological knowledge it will provide for researchers and other end-users of geological information.   QMAP research involves assessment of previous work, field and laboratory investigations in key areas, and data storage, manipulation and publication using Geographic Information Systems (GIS) computer technology. The QMAP digital database of New Zealand geology will be completed by 2006, as will the series of 21 full colour printed geological maps and accompanying explanatory texts. Two are already completed and published (Kaitaia and Dunedin), and six other projects are well advanced.   QMAP information will also be available in digital form. Next year we hope to expand the scope of the programme to cover the reconciling and linking of many other earth science databases to QMAP, because we believe this will create a powerful research tool. The intention is to develop internet access to the databases, to make the information publicly available.

Jan 1, 1997

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By Ronald W. Stingelin

This study undertook the development and implementation of a methodology for estimating the impact of coal seam interaction on the eastern bituminous underground reserve base as published in USBM Information Circular 8655. The effects of previous mining in multiple coal seam areas on currently mined and reserve seams are predicted as a percentage coal loss by an engineering assessment model called the Coal Loss Calculation Model. The model utilizes twelve input variables easily derivable from mine maps or other existing data sources and calculates the effects of subsidence and high-stress due to remnant pillars in the previously mined seam. Extensive literature review resulted in the identification, definition, and quantification of the critical variables of seam interaction. Export opinion surveys were made of mining experts, MESA mine inspectors, and coal mine operators. Statistical analysis was used to establish the redundancy of the critical variables and to develop a total coal loss prediction algorithm. A regional analysis resulted in the production of a series of thematic maps on coal characteristics and distribution. A derivative map showing the areas of commonality within the eastern bituminous coal region served as the basis for implementation of the coal loss calculation model. The model was developed and tested using data from four coal mines in western Pennsylvania and southern West Virginia.

Jan 1, 1976