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By O. W. Shimer, D. C. Helms, C. E. Brown

The early history and progress of anthracite stripping, from the first known operation at Summit Hill in 1821 through 1917, was covered in 1917 in a paper by J. B. Warriner,1 then chief engineer, now president of the Lehigh Navigation Coal Co., and stripping methods between 1917 and 1931 were the subject of a paper in 1931 by H. H. Otto,2 of the Hudson Coal Company. . The present paper is confined to methods used today on pitching beds in the western middle and southern anthracite fields. The anthracite industry, not unlike other large industries, had been affected for more than a decade by the adverse economic conditions of the country. High development and operating costs and the competition of other fuels caused some collieries to be closed temporarily, while others were permanently abandoned. In order to obtain a larger tonnage at a lower development cost, a larger stripping program was put into effect by many companies. In 1932, stripping operations accounted for 3½ million tons, or 7 per cent of the total anthracite production of the year, and in the next 10 years this increased until more than double that amount, or over 14 per cent of the total production, was from stripping operations. These figures represent the total production of the entire anthracite region; unfortunately, the figures have not been separated from the different fields. There are some operations in the southern and middle western fields where the tonnage obtained from stripping amounts to more than 30 per cent of the total colliery production. Stripping operations on pitching beds present difficult problems. Owing to the various geological formations, a different situation is encountered in nearly every stripping pit; and because of the proximity of an overlying bed, it is very often necessary to load the entire overburden into trucks and haul it out of the pit to the dump area, although back filling and casting is done whenever possible. Beds in the areas described in this paper pitch from 20" to 90 and some are on the invert in many sharp folds and faults. Planning The more successful strippings have had adequate engineering analysis. Some work is being done without much preliminary planning, but many strippings would have failed completely if close supervision by the engineering department had not been . maintained. Locations of stripping areas are determined as follows: I. By constructing cross sections over the areas and drilling sufficient diamond-drill or well drill holes to study the strata and to determine the location, thickness

Jan 1, 1944

By R. W. Snyder, W. H. Guilinger, B. S. Gottfried

Two numerical methods are presented JOT solving the equations Jor one-dimensional, multiphase /low in porous media. The case oF variable physical properties is included in the Formulation, although gravity and capillarity are ignored. Both methods are analyzed mathematically, resulting in upper and lower bounds for the ratio of time step to mesh spacing. The methods are applied to two- and three-phase waterflooding problems in laboratory-size cores, and resulting saturation and pressure distributions and production histories are presented graphically. Results oJ the tuo-phase flow problem are in agreement with the predictions of the Buckley-Leuerett theory. Several three-phase flow problems are presented which consider variations in the water injection rate and changes in the initial oil-and ujater-saturation distributions. The results are different physically from the two- phase case; however, it is shown that the Buckley-Lez~erett theory can accurately predict fluid interlace velocities and displacing-fluid frontal snturations for three-phase flow, providing the correct assumptions are made. The above solutions are used as a basis JOT et~aluuting the numerical methods with respect to machine time requirements and allowable time step for a fixed mesh spacing. INTRODUCTION Considerable progress has been made in recent years in obtaining numerical solutions of the equations for two-phase flow in porous media. Douglas, Blair and Wagner2and McEwenll present different methods for solving the one-dimensional case for incompressible fluids with capillarity (the former using finite differences, the latter with an approach based upon characteristics). Fayers and Sheldon4 and Hovanesian and Fayers8 have extended these studies to include the effects of gravity. West, Garvin and Sheldon, l4 in a pioneer paper, treat linear and radial systems with both capillarity and gravity and they also include the effects of compressibility. Douglas, Peaceman and Rachford3 consider two-dimensional, two-phase, in compressible flow with gravity and capillarity and Blair and Peaceman1 have extended this method to allow for compressible fluids. No one, however, has examined the case of three-phase flow, even for the relatively simple case of one-dimensional flow of incompressible fluids in the absence of gravity and capillarity. In obtaining a numerical technique for simulating forward in situ combustion laboratory experiments, Gottfried5 has developed a method for solving the one-dimensional, compressible flow equations with any number of flowing phases. Gravity and capillarity are not included in the formulation. The method has been used successfully, however, for two- and three-phase problems in a variable-temperature field with sources and sinks. This paper examines the algorithm of Gottfried more critically. Two numerical methods are presented for solving the one-dimensional, multi-phase flow equations with variable physical properties. Both methods are analyzed mathematically, and are used to simulate two- and three-phase waterflooding problems. The numerical solutions are then taken as a basis for comparing the utility of the methods.

Jan 1, 1967

Jan 1, 1970

By D. B. Williams

The end of the war in Europe and the Pacific failed to curb the upward trend of production in Venezuela,- which easily surpassed that of any previous year. The total production for 1945 amounted- to 323,369, 430 bbl., which was 26 per cent over the total for 1944, the previous peak in the history of the oil industry of the country. This increase was caused mainly by the greater demand for petroleum in the last stages of the war; the fact that the danger from enemy submarines had been overcome, which allowed all oil companies to use increased shipping facilities, and the fact that more materials were available for drilling operations. However, the materials supplied were by no means adequate and considerable credit is reflected on the Venezuelan petroleum industry for the increased production obtained by utilizing all available equipment to its fullest extent.

Jan 1, 1946

Organization Place Date 1917 American Electrochemical Society Pittsburgh, Pa. Oct. 3-6 American Institute of Mining Engineers St. Louis, MO. Oct. 8-13 American Gas Institute : Washington, D. C. Oct. 16-19 American Institute of Architects Philadelphia, Pa. _ Dec.. 26-29 American Society of Mechanical Engineers New York City. Dec. 26-29 American Mining. Congress State Chapter Phoenix, Ariz. Dec. 26-29

Jan 10, 1917

By Roy A. Anderson, Roger H. McConnel

The Metaline district from 1906 through 1965 has produced nearly 16 million tons of ore yielding 400,808 tons of zinc and 178,062 tons of lead. The sediments, ranging from Precambrian into the Devonian, are schist, phyllite, conglomerate, greenstone, quartzite, limestone, dolomite, and carbonaceous slates. Quartz monzonite and granodiorite of the Cretaceous(?) Kaniksu batholith are exposed over a large area beginning a few miles south of the district. There is minor Tertiary conglomerate and basalt. Abundant glacial deposits obscure much of the bedrock. Northeasterly trending folds, having steep to overturned northwesterly limbs, and thrust faults, striking northeasterly and dipping southeasterly, characterize the deformation of the Precambrian and Paleozoic rocks. Recent drilling indicates that the Slate Creek fault, too, is also a southeasterly dipping thrust fault. This new evidence suggests that the Valley Block, like the other major structural blocks, may in part be a thrust plate rather than a graben, and that thus the district may have greater structural unity with the surrounding region than has heretofore been apparent. The Cambrian Metaline Formation of limestone and dolomite contains essentially all the lead-zinc mineralization. Most of the ore mined to date has come from a carbonaceous and irregularly siliceous breccia of sedimentary and diagenetic origin, locally called the "Josephine Horizon," that makes up the top few to 200 feet of the formation. The Josephine Unit is a breccia of gray limestone, coarse light gray dolomite, very thin-bedded, dark gray siliceous dolomite, and "zebra rock" believed to be of algal origin, embedded in a matrix of black dolomite or black jasperoid or some mixture of these two. The jaspcroid fragments and irregular blobs embedded in the black dolomite matrix and the jasperoid laminae in the very thin-bedded dark gray dolomite suggest that jasperoid was formed at the same time as the breccia matrix and as the laminated dolomite. So too, the marked tendency of sphalerite and galena to be disseminated mainly in the dark breccia matrix and their tendency to be most abundant in the jasperoid laminae of the very thin-bedded dark gray dolomite, even where the mineralized and laminated dolomite is fragmented and engulfed in black dolomite breccia matrix, suggests that in these ha bits the sulfides also were deposited contemporaneously with the sediments. Yet very commonly, veins and vague veinlets and patches of white quartz, usually carrying rather coarse sphalerite and sometimes galena crosscut all rock types. These contradictory relationships throughout the Josephine Unit suggest that both the black jasperoid and the sulfides were original constituents of the Josephine Unit but that, locally, they later were remobilized and deposited as white quartz and coarser grained sulfides. Possibly, at least in part, this "metamorphism" is one of the effects produced during or shortly after the intrusion of the Kaniksu batholith.

Jan 1, 1968

By O. W. Shimer, D. C. Helms, C. E. Brown

THE early history and progress of anthracite stripping, from the first known operation at Summit Hill in 1821 through 1917, was covered in 1917 in a paper by J. B. Warriner,1 then chief engineer, now president of the Lehigh Navigation Coal Co., and stripping methods between 1917 and 1931 were the subject of a paper in 1931 by H. H. Otto,2 of the Hudson Coal Company. The present paper is confined to methods used today on pitching beds in the western middle and southern anthracite fields. The anthracite industry, not unlike other large industries, had been affected for more than a decade by the adverse economic conditions of the country. High development and operating costs and the competition of other fuels caused some collieries to be closed temporarily, while others were permanently abandoned. In order to obtain a larger tonnage at a lower development cost, a larger stripping program was put into effect by many companies. In 1932, stripping operations accounted for 334 million tons, or 7 per cent of the total anthracite production of the year, and in the next 10 years this increased until more than double that amount, or over 14 per cent of the total production, was from stripping operations. These figures represent the total production of the entire anthracite region; unfortunately, the figures have not been separated from the different fields. There are some operations in the southern and middle western fields where the tonnage obtained from stripping amounts to more than 30 per cent of the total colliery production. Stripping operations on pitching beds present difficult problems. Owing to the various geological formations, a different situation is encountered in nearly every stripping pit; and because of the proximity of an overlying bed, it is very often necessary to load the entire overburden into trucks and haul it out of the pit to the dump area, although back filling and casting is done whenever possible. Beds in the areas described in this paper pitch from 20° to 90° and some are on the invert in, many sharp folds and faults. PLANNING The more successful strippings have had adequate engineering analysis. Some work is being done without much preliminary planning, but many strippings would have failed completely if close supervision by the engineering department had not been maintained. Locations of stripping areas are determined as follows: 1. By constructing cross sections over the areas and drilling sufficient diamond-drill or well drill holes to study the strata and to determine the location, thickness and pitch of the beds.

Jan 1, 1944

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one. if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resins may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate. l7,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By Roy P. Full, Robert M. Grantham

Regional structural adjustments in early Tertiary time resulted in the development of the Republic graben, a major down-dropped block that is from 6 to 10 miles in width and more than fifty miles in length. The graben became the center of extensive volcanic activity during Eocene and Oligocene time, resulting in a thick sequence of water-laid tuffaceous sediments, volcanic flows, and associated intrusives. A younger series of sediments, pyroclastics, and flows were deposited in structural depressions within the graben following the period of widespread volcanic activity. The Republic mining district is located along one of the major intragraben structural zones, where continuing subsidence during the period of volcanic activity resulted in an increased thickness of flows and associated flow breccias and pyroclastics. Intrusive masses in part healed early graben-forming faults, but later subsidence reopened old faults and created new fracture zones which later became the control for the gold-quartz veins. Considerable block adjustment along the subsidence area is evidenced by the structural pattern in the mines, and telescoped vein structures indicate north-south compressional stresses and east-west graben-forming tensional stresses prior to and during the emplacement of the veins. The veins, varying from a few feet to more than 50 feet in width, are filled primarily by fine-grained quartz, commonly chalcedonic or porcelain-like in appearance. Finely laminated dark-gray to black concentric banding within the veins generally distinguishes the better-grade ore zones, which contain finely disseminated sulfides and ore minerals that include principally electrum, stephanite, naumannite, and native silver.

Jan 1, 1968

By Walter Fuchs

It is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. Synopsis of Biological and Chemical Facts The biosphere is not sterile; i.e., microorganisms are always present. Microor- ganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life—proteins, fats, carbohydrates, lignins, waxes, resins— may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1942

By Walter Fuchs

It is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. Synopsis of Biological and Chemical Facts The biosphere is not sterile; i.e., microorganisms are always present. Microor- ganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life—proteins, fats, carbohydrates, lignins, waxes, resins— may serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1942

By Don Masson

MUCH has been written and many prophecies made on the subject of plastics as a replacement for metal, and the extent to which these materials will compete with each other for peace- time markets. (Metal is used in a broad sense to include all types.) But although certain synthetic resin materials have made considerable headway in war production, this change to plastics can hardly be regarded as a serious threat to the mining and metallurgical industries. Even today, the total yearly tonnage of plastic materials is approximately only 1 per cent of that of steel, and only a small fraction of this might be considered as actually replacing steel. However, these figures must not be taken as indicating that the importance of plastics in fields hitherto considered exclusively the territory of metals is negligible-far from it. Considering the comparatively minute tonnage of plastics now being produced in comparison to the output of metals, the number of applications where plastics have augmented or aided the sale of metals is considerable.

Jan 1, 1944

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds ;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2 : I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resins may serve as a habitat of microorganisms. In the decomposition of a medium. some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17, 32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By F. B. WEEKS

I HAVE chosen for my subject a mining district which in an article published four years ago I referred to in the following words: "One of the un- usual anomalies of mining development and history is that a district having added thirty or more millions of wealth to a principal mining state, situated within four to six miles of two transcontinental railways and two auto highways, and within 150 miles of the most widely advertised part of the United States, should have been so completely lost sight of that probably not one mining man in ten can tell offhand where it is situated." But this district never was a dead one: it was only slumbering. During the past four months, day by day, it has been emerging from that state of slumber.

Jan 1, 1929

By A. CHESTER BEATTY

SO much has been written about African, and particularly about Northern Rhodesian, copper during the past two years that I feel safe in assuming that you are familiar with the general background of the Rhodesian picture. Therefore, I will confine myself to certain of the high lights in connection with the history, geology, development, ore reserves, and contemplated mining methods in this relatively new and highly important copper field., Unlike most of the other great orebodies of the world, the Roan Antelope mine was not discovered by the hoof of a starving prospector's faithful burro; nor even, as its name might suggest, by a well-placed kick of protest from an antelope stumbling over a malachite outcrop. Late in 1905 an English prospector named Collier, traveling in the N'Dola district, came upon some natives using a green powder for medicinal purposes. Closer examination of the powder revealed that it ' was ground-up malachite. Collier endeavored to persuade the natives to tell him where they obtained this medicine, but' for a long time without success, because of the general feeling among the natives that they did not wish to reveal the resources of their land to the white. Finally however, - he persuaded- brie 'of-the elders to at" least take 'him part way toward, the- place where the malachite was supposed to occur. The bid took him, to a point on the lower regions of the Luanshya river and there left him with the instructions that if he followed the stream up toward its.

Jan 1, 1931

By A. C. Fieldner

THE total annual energy production from coal, petroleum, natural gas and water power has been increasing at a fairly constant rate during the thirty years ending in 1930. But since 1913 the demand for the competitors of coal has increased at a rate faster than that for coal. During the last twenty years, the curve of coal production has had a generally horizontal trend; in fact, the 1930 production of coal was six per cent less than that of 1913. Economists attribute this loss of demand to greater efficiency in coal utilization and to displacement of coal by oil and natural gas. These two factors are about equally responsible, and it is evident that research has been intimately concerned with both. About sixty per cent of the bituminous coal mined in the United States in 1929 was used for generating steam, either in stationary or locomotive boilers. A decade ago seventy per cent or more was used for this purpose. This change is due largely to tremendous advances in fuel economy.

Jan 1, 1933

For the use of those who prefer manila rope to wire rope for light hoisting and hauling, the Ingersoll-Rand Co. has brought out a new model Little Tugger Hoist which is designated No. 11. The square piston, reversible driving engine, automatic lubrication, inclosed gearing, rum release clutch and worm-operated band brake are essentially the same as in the No. 1 model which was introduced about two Years ago. The main differences are in the diameter and length of the drum, the width of the flanges and, necessarily, the main frame and overall dimensions. The new No. 11 Little Tugger has a hoisting drum 7 in. in diameter by 17 in. long with 5-in. flanges. This accommodates 300 ft. of 7/8 -in. manila, rope. The maximum capacity of this hoist is conservatively rated at 600 1b. The weight of the hoist itself is 358 lb. It is 21 ½ in. long, 31 ¼ in. wide and 23 in. high.

Jan 12, 1916

By Randall L. Neal

This paper discusses the impact of taxes at the state and federal level on typical on-shore oil and gas exploration economics in the USA. Taxes considered are the windfall profits excise tax, state production (or severance) taxes, state income tax, and federal income tax. Also considered will be market prices for oil and gas in the USA. The effect of government take as a percent of revenue, on rate of return, discounted Payout, and discounted cumulative cash flow is shown on the attached tables. The conclusion drawn is that tax laws, while rarely the most important factor to be considered when drilling a well, can have significant impact on the profitability of oil and gas ventures, and should be considered when determining where to drill. Hypothetical exploration wells were analyzed for the impact of tax laws on project profitability. The results of this study show that when factors other than taxes are postulated to be the same (such as producing rate, capital, operating costs, and prices), cash flow can vary by as much as 68% due to the differences in the tax laws. Other significant findings for the cases studied include: (a) that discounted payout varied by as much as 1.8 years, (b) that rate of return differed by up to 67% and (c) the total tax rate as a percentage of revenue had a maximum variance of 33%.

Jan 1, 1982

Jan 1, 1967

The Library of the above-named Societies is open from 9 A.M. to 9 P.M. on all week-days, except holidays, from September 1 to June 30, and from 9 A.M. to 6 P.M.. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information-will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining-maps, and to furnish general information as to the geology and mineral resources of all countries: All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape. The members of the Institute. can be of service to the Library by forwarding copies of mining-reports, maps privately issued, and similar material, which will he classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and assurance is given that most careful service will be rendered to them.

Jan 5, 1913