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By Alvin Kaufrnan

This chapter will deal with the policy issues relating to mineral land disposal. The first portion of the chapter will discuss in general terms the legal systems utilized in disposing of mineral rights and the major problems encountered; the second section will comprise an analysis of the policy alternatives with emphasis on the pricing aspects. In this section, we are not attempting to provide a legal text, but simply to outline very briefly and sketchily the details of the systems. More detailed information can be obtained by contacting the appropriate governmental agency for specific information. Mining laws throughout the world are based on two major legal groupings: English Common Law and the Civil Law. These basic systems are often modified by Islamic Law and by negotiated -mixtures of these. Under English Common Law, which is embraced by the United States, Canada, and many of the members of the British Commonwealth of Nations, individuals can hold property and can extract minerals from it. The owner can dispose of minerals as he sees fit, either through contract, deed, or whatever other system is appropriate. CIVIL LAW Under Civil Law (also known as Regalian Law), mineral ownership is normally placed in the state, regardless of who owns the surface. This legal system applies in most European countries and their former colonies. It is derived from Roman law. The mineral deposits, thus, are worked under concessions. Most countries use a negotiated concession system and sometimes a combination of negotiation and competitive leasing. The negotiated system has advantages as well as disadvantages for both government and industry. In a system where the government administratively determines who is to get what, the concessions are normally large. Frequently they range up to several millions of acres and involve a considerable investment on the part of the concessionaire. There is no duplication of effort on the part of producers to obtain information, since a single concessionaire controls a given area. Consequently, less money is spent in toto because several prospective operators are not required to seek the same information. The system also has the advantage to the industry of permitting the concessionaire to select and retain the best producting area. Thus, major developmental expenditures are made on the production unit only, with a resulting reduction in the risk factor. The large initial size of the concession also minimizes the possibility of expending a large bonus payment for a barren property. The major governmental advantage of a concession is its flexibility in accomplishing other national objectives. For example, a lease could be negotiated at less than fair market value, but requiring substantial de-

Jan 1, 1976

By J. C. Miller

In offshore oil drilling as it is done today, accidental blowouts cause considerable damage lo the environment. Public alarm over such accidents has already resulted in a number of legislative proposals which appear to favor the cessation of all drilling on the Federally owned continental shelf. Present concern for the environment and the increasing water depths associated with offshore drilling suggest the desirability of applying underground mining technology to offshore petroleum exploration. If offshore drilling were to proceed from underground accesses to the continental shelf, accidental damage to surface waters would be avoided, and so would the difficulties of exploring in deep or ice-filled waters. The specific approach proposed here is intended as a preliminary to offshore oil exploration in a known field or geologic structure. The end result of this method would be an on-shore vertical or inclined shaft terminating in an operating tunnel or haulageway as shown in the illustrations. From the haulageway, branching access tunnels would lead to drilling compartments. With this arrangement, it appears likely that one operating tunnel could serve all lessees ill a particular unit operation. Although an inclined shaft is not illustrated, this would probably be more practical than a vertical shaft owing to the length of the casings and the character of other equipment used in oil producing operations.

Jan 1, 1971

By Frank Ruskey, Richard G. Burdick

Many problems associated with potential hazards in a proposed mining area may not be adequately appraised because of the complexity of trying to evaluate them in terms of production requirements. Frequently, encountered hazards have to be dealt with by day-to-day operational schemes that require the miner to either force a way through them or avoid them by blocking off the area in which the hazards are known to exist. These considerations, after the mine is in full production, can be costly to the mine operator and can increase the danger to the miners. A hazard-evasion computer program for mine planning that will appraise proposed mine layouts on the basis of existing or potential hazards has therefore been developed. The program is intended for use during the planning phase of a mine, where it should assist the mining engineer in making decisions in mine design, With the output from this program, the mining engineer should be able either to corroborate his judgments made on the basis of mining experience or to find unanticipated solutions to design problems. The program tests hundreds of possible solutions to a mining layout, and by sorting out the 10 best (based on a criteria of minimum-abandoned-coal) limits the number of choices that need to be considered and appraised for applicability to a given mine scheme.

Jan 1, 1976

By J. P. Norris, W. T. Pettijohn

The Mufulira Copper Mine, Ltd., is in Northern Rhodesia, ten miles from the Belgian Congo border, and is one of the group of four operating mines comprising the Northern Rhodesian Copperbelt. The ore deposits at Mufulira are on the limb of a large syncline striking NW.-SE. and dipping NE. at about 45 deg towards the Congo border. The host rocks are well-consolidated, highly-silicified, felspathic quarzites of the lower part of the pre-Cambrian Séries des Mines of the Katanga. The ore rocks are underlain, unconformably, by the older "Muva Series," in this case hard, green, metamorphosed quarzites. There are three superimposed orebodies, the first, or upper, orebody averaging 40-ft true thickness with a strike length of about 5000 ft, the second, or middle, orebody of about 50-ft true thickness with a strike length of about 6000 ft, and the third or lower orebody of around 60-ft true thickness with a strike length of 8000 ft. The orebodies are separated by varying widths of waste, or very low-grade ore, from a few feet up to 50 ft. The middle and lower orebodies are so close together for a strike length of 3000 ft that they are mined as one orebody. In all, the mineralized zone is about 200 ft in true thickness.

Jan 6, 1950

By Charles A. Anderson

THE Bagdad copper deposit is of the disseminated type (porphyry copper) occurring in a quartz monzonite stock of late Cretaceous or early Tertiary age. This stock, located essentially at the intersection of two dike swarms, is the only one of several stocks cropping out in the area which is appreciably fractured and mineralized. Most of the rocks in the area are of pre-Cambrian age, but their structures have had no discernible influence on the copper mineralization. Hypogene alteration of the quartz monzonite includes the addition of quartz, orthoclase, and sericite and recrystallization of biotite. The hypogene sulphides are pyrite, chalcopyrite, and molybdenite, the latter younger than the chalcopyrite. The late Cretaceous or early Tertiary igneous rocks, veins, and faults were controlled by northeast and northwest shear zones, the intersection of which marks the zone of appreciable copper mineralization. The minor mineralized fractures carrying the bulk of the copper have a preferred orientation parallel to the intersecting shears, and it is concluded that they are of tectonic origin rather than the result of shrinkage on cooling, crystallization, or mineralization. Supergene enrichment during late Tertiary or early Pleistocene time formed a chalcocite zone providing the minable copper ore. The enrichment was controlled in large part by northeast and northwest faults, particularly at their intersection or where the faults are closely spaced.

Jan 1, 1947

By Wheeler P. Davey

When metals are subjected to mechanical working, such as rolling, one of the phenomena that take place is a movement of the crystals of the metal into a system or systems of orientation which bear an angular relation to the direction of working. In rolled metal the crystals may orient themselves with respect to the rolling plane or the rolling direction, or both. Direct evidence of the existence of preferred orientations in rolled metal has been obtained by numerous investigators from X-ray patterns of the rolled metal. Most of these workers used a monochromatic pinhole method. Where the degree of preference for a single orientation is high the monochromatic pinhole pattern may be interpreted by a geometrical calculation based on the angular relationships of the planes in the crystal and the diffraction arcs on the X-ray pattern. This process may be aided by the geometrical construction of the locus sphere (Lagenkugel), and reflection circles of Polanyi,l Polanyi and Weissenberg,2 and Mark and Weissenberg,3 and of the plane polar figures (flachenpolfigur) of Franz Wever.4 R. M. Bozorth5 solves X-ray patterns from metals having a single preferred orientation by means of a series of charts which when placed over the X-ray pattern give directly certain angular relationships, between the crystal planes and the surface of the specimen.

Jan 1, 1930

When Ponce de León landed in Florida in 1573 he was told of an Indian chief that possessed much gold. In 1576 Diego Meruelo obtained some of it from the Indians, and in 1579 Álvarez de Pineda reported that the natives wore ornaments of gold, which they obtained from the rivers. These statements all refer to the southern Appalachian region. The name is recorded in 1527; when Pamphilo Narváez landed at Tampa he heard that there was much gold to be obtained in a region named Apalache. * In 1564 René Laudonnière describes the methods used by the natives to win gold in the Apalatcy mountains.† However, no serious mining operations were undertaken until long afterward; the mining of gold in the Southern States may be said to have had its beginning when a nugget was found at the Reed mine, in North Carolina, in 1799. This nugget, which was of "the size of a small smoothing iron", was kept for several years before the finder learned what it was, but later more lumps, one weighing 28 pounds, were found in the same locality, and eager digging ensued. ‡ Thomas Jefferson, in his `Notes on Virginia', mentions the finding of a quartz specimen, not a nugget as is generally stated, that contained 17 pennyweights of gold; this was found on the Rappahannock river in 1782. §

Jan 1, 1932

By Charles R. Fettke

BefoRe the Drake well on Watson Flats below Titusville, Pa, inaugurated the modern petroleum industry on Aug. 28, 1859, a considerable industry, based on the manufacture of mineral oils through the destructive distillation at relatively low temperatures (750' to 800' F.) of cannel coals and shales in closed, air-tight retorts, had already sprung up in Europe and America because of the increasing cost of animal and vegetable oils and fats and the growing demand for illuminating and lubricating oils. In 1860, eight out of 55 such coal-oil companies in the United States had plants located in Pennsylvania.' Of these, the Lucesco Works, costing $120,000, situated near Kiskiminetas Junction, was the largest operating in the country. It was equipped with 10 revolving 2.5-ton retorts and 16 stills for rectifying the oil, each holding 2000 gal. The total output of crude oil was almost 6000 gal. per day.2 The discovery of an abundant supply of natural petroleum by the Drake and other wells stopped the distillation of coal oil in America. Most of the smaller plants were closed and others were converted into petroleum refineries. At present, in spite of the temporary over-production of petroleum, the coal and oil-shale carbonization industries are again attracting the attention of far-sighted oil companies who realize that the gradual exhaustion of the American petrol-

Jan 1, 1923

By Charles R. Fettke

BefoRe the Drake well on Watson Flats below Titusville, Pa, inaugurated the modern petroleum industry on Aug. 28, 1859, a considerable industry, based on the manufacture of mineral oils through the destructive distillation at relatively low temperatures (750' to 800' F.) of cannel coals and shales in closed, air-tight retorts, had already sprung up in Europe and America because of the increasing cost of animal and vegetable oils and fats and the growing demand for illuminating and lubricating oils. In 1860, eight out of 55 such coal-oil companies in the United States had plants located in Pennsylvania.' Of these, the Lucesco Works, costing $120,000, situated near Kiskiminetas Junction, was the largest operating in the country. It was equipped with 10 revolving 2.5-ton retorts and 16 stills for rectifying the oil, each holding 2000 gal. The total output of crude oil was almost 6000 gal. per day.2 The discovery of an abundant supply of natural petroleum by the Drake and other wells stopped the distillation of coal oil in America. Most of the smaller plants were closed and others were converted into petroleum refineries. At present, in spite of the temporary over-production of petroleum, the coal and oil-shale carbonization industries are again attracting the attention of far-sighted oil companies who realize that the gradual exhaustion of the American petrol-

Jan 1, 1923

By R. L. Vaughn, H. R. Cooper

Effective procedures for automating X-ray assaying by use of a computer are described. These methods have advanced the reliability and accuracy of X-ray data, resulting in improved assay measurements for operations and process control. Assaying by X-ray fluorescence has been increasingly used in the mining industry, both for analyzing solid H.R. COOPER and R.L. VAUGHN, Members AIME, are Systems Manager-Process Control and Senior Systems Analyst, respectively, Scientific & Engineering Computer Center, Ken-necott Copper Corp., Salt Lake City, Utah. TP 68B236. Manuscript, Sept. 16, 1968. Discussion of this paper, submitted in duplicate prior to Dec. 15, 1969, will appear in SME Transactions, March 1970, and AIME Transactions, 1970, Vol. 247. samples for smelter, mill, and mine quality control and for continuous stream analysis of mill pulps. The important advantages of X-ray methods in laboratory assaying are reduced analysis cost, and for on-stream analysis, immediate assay information on concentrator streams. Of the numerous reports concerning X-ray analysis in mining operations, one is referenced which can be noted particularly in conjunction with this report.' Continuous X-ray analyzers have been installed at Kennecott and other mining companies for operations guidance and trend information for a number of years. However, complete operational acceptance of X-ray data has been slow, due* to the difficulty in maintaining

Jan 1, 1970

THE first session of the Institute was held at the Smithsonian Institution, on Tuesday evening, February 22d. The members were welcomed to Washington and to the Smithsonian by Prof. Joseph Henry. President Holley responded to the cordial welcome of Professor Henry, and then read an introductory address on the subject of Technical Education. Following the discussion on President Holley's address the following persons, duly proposed and indorsed by the Council, were elected members and associates of the Institute : MEMBERS. Emile R. Abadie, - St. Louis, Ma. R. J. Anderson, - Pittsburgh, Pa. Commander L. A. Beardslee, - Washington, D. C. Charles Bender, - New York City. Channing M. Bolton, - Richmond, Va. Thomas E. Bowman, - Silverton, Colorado. Calvin E. Brodhead, - Bethlehem, Pa. M. L. Brosius, - Lewistown, Pa. Harvey H. Brown, - Cleveland, Ohio. James A. Burden, - Troy, N. Y. J. P. Clemes, - Sonora, Mexico. N. H. Cone, - Nederland, Colorado. W. F. Durfee, - New York City. Robert Frazer, Jr., - Ashland, Pa. Joseph E. Galigher, - Bingham, Utah. William Golding, - Steel Works P. O., Pa. Samuel E. Griscom, - Pottsville, Pa. Gen. E. Burd Grubb, - Beverly, N. J. Arthur R. Guerard, - Charleston, S. C. Edward Hart, - Easton, Pa. Prof. Lewis M. Haupt, - Philadelphia. . R. S. Hawley, - Buffalo, N.Y. John W. Hoffman, - Philadelphia. Nelson P. Hulst, - Milwaukee, Wis. H. C. Humphrey, - Philadelphia. Ed. P. Jennings, - Ithaca, N. Y. B. F. Jones, - Pittsburgh, Pa.

Jan 1, 1876

By Samuel S. Wyer

The following abbreviations hare been used in the text: Am. Mfr. and Iron World. American Manufacturer and Iron World, Pittsburg, Pa. Can. Min. Rez;. Canadian Mininy Review, Ottawa, Can. Cuss. Mag. Cassier's Mayazine, New York, N. Y. Col. Eng. Colliery Engineer, Scranton, Pa. Col. Guard. Colliery Guardian, London, Eog. Eng. and Min. Jour. Engineering and Mining Journal, New York, N. Y. Eng. News. Engineering News, New York, N. Y. Engr. Engineering, London, Eng. J. I. and 8. I. Journal of the Iron and Steel Institute, London, Eng. Jour. W. Soc. of Engrs. Journal Western Society of Engineers, Chicago, Ill. Lond. Eng. The Engineer, London, Eng. Mines and Min. Mines and Minerals, Scranton, Pa. North of Eng. I. M. E. North of England Institute of Mining Engineers, Newcastle-on-Tyne, England. Oester. Zeitsch f. Berg u. Hüt. Oesterreichische Zeitschrift für Berg-und Hittenwesen, Vienna, Austria. Pract. Engr. Practical Engineer, London, Eng. Proc. I. C! E. Proceedings Institution of Civil Engineers, London, Eng. Trans. A. I. M. E. Transactions American Institute of Mining Engineers, New York, N. Y. Trans. A. S. M. E. Transactions American Society Mechanical Engineers, New York, N. I!. Duns. Fed. I. M. E, Transuctions Federated Institute Mining Engineers, Newcastle-on-Tgne, England. Trans. L 31. E. Transactions Institute Mining Engineers, Newcastle-on-Tyne, England.

Jan 1, 1907

By H. R. Hanley

ONE of the most important contributions to the art of electrolytic zinc production-has been the aluminum cathode. This has been used in all major production: since its commercial development in 1916. The literature is replete with important contributions, some of which may have been replaced by better ones, but thus far there appears no other metal to take the place of aluminum as cathode material. Credit for this innovation goes to Sherard Cowper Coles, of England. When experi-menting on the extraction of-zinc from Broken Hill ore at Hayle, Cornwall, in 1893, he introduced the aluminum cathode, and in 1895 obtained British Patent-No. 20073. The reason for this dominant position of aluminum as cathode mate-rial in zinc sulphate electrolytes is its unique surface, to which electro-deposited metals usually do not tightly adhere. The metal must be of high purity for best results. It is possible to develop a starting-sheet method by which thin electro-deposited sheets of cathode zinc are made and stripped from a smooth aluminum plate. Such thin sheets of cathode zinc may be used as arc tine copper sheets in standard electrolytic copper-refinery practice. However, complications arise because of extreme warping of the zinc starting sheet after a .few hours of deposition, and thus special arrangements must be made to compensate for this abnormality.

Jan 1, 1938

By A. Lee Barrett

THE Maintenance Committee of the Coal Division of the American Institute of Mining and Metallurgical Engineers is presenting with this report the first of a series of cost comparisons which it plans to present to the Institute. The plan is to assemble maintenance cost on all equipment connected with mechanical operations at the face of coal mines, to arrange these costs by districts, to make comparisons between districts, and within districts. This particular report covers data with respect to mobile loading machines, including both "on-track" and "off-track" equipment. It is anticipated- in-fact, considerable data have already been accumulated-that next year complete maintenance costs by districts can be presented for complete loading units, including the various classes and combinations of on-track and off-track equipment. Data have also been collected with respect to some phases of maintenance methods and certain recommendations of the committee are included dealing with maintenance problems. In the assembly of these data more than 120 questionnaires were sent to operating companies through- out the United States. At the time the report was written 33 questionnaires had been returned with completed information and an additional group of companies had written that the information requested was not at present available but that they hoped to have such information available in the not far distant future. The replies as

Jan 1, 1946

The first session of the Institute was held at the Smithsonian Institution, on Tuesday evening, February 22d. The members were welcomed to Washington and to the Smithsonian by Prof. Joseph Henry. President Holley responded to the cordial welcome of Professor Henry, and then read an introductory address on the subject of Technical Education. Following the discussion on President Holley's address the following persons, duly proposed and indorsed by the Council, were elected members and associates of the Institute : MEMBERS. Emile R. Abadie,. .. .. St. Louis, Mo. R. J. Anderson,.....Pittsburgh, Pa. Commander L. A. Beardslee,. .. Washington, D. O, Charles Bender,. .. .. New York City. Charming M. Bolton,. .. . Richmond, Va. Thomas E. Bowman,. .. . Silverton, Colorado. Calvin E. Brodhead,. .. . Bethlehem, Pa. M. L. Brosius,. .. .. . Lewistown, Pa. Harvey H. Brown,. .. .. Cleveland, Ohio. James A. Burden,.. .. . Troy, N. Y. J. P. Clemes,. .. .. . Sonora, Mexico. N. H. Cone,. .. .. . Nederland, Colorado. W. F. Durfee,.. .. . New York City. Robert Frazer, Jr.,. .. . Ashland, Pa, Joseph E. Galigher,.. .. . Bingham, Utah. William Golding,.. .. . Steel Works P. O, Pa. Samuel E. Griscom,.. .. . Pottsville, Pa. Gen. E. Burd Grubb,.. .. Beverly, N. J, Arthur R. Guerard,. .. .. Charleston, S. C. Edward Hart,.. .. .. Easton, Pa. Prof. Lewis M. Haupt,. .. . Philadelphia. E. S. Hawley,.....Buffalo, N. Y. John W. Hoffman,.. .. .. Philadelphia. Nelson P. Hulst,.. .. . Milwaukee, Wis. H. C. Humphrey,.. .. . Philadelphia. Ed. P. Jennings,.. .. .Ithaca, N. Y. B. F. Jones,......Pittsburgh, Pa.

By B. Kopelman, C. C. Gregg

THE reduction of tungstic oxide to tungsten metal powder by hydrogen is a process by which one might expect the resultant metal powder to he porous. In- deed, sponge iron, prepared by rcduction of the oxide in a reducing gas, is generally accepted as quite porous. with pores large enough to be seen readily under the optical microscope at relatively low magnifications. However, any pores that may exist in tungsten metal powder are not resolved by the optical microscope, and apparently, not even by the electron microscope. Fig r shows commercial tungsten powder magni- fied at I0,000 X by the electron microscope,' both etched and unetched. In an earlier paper by one of the authors,* the existence of ports in tungsten powder was required to explain adequately the particle size changes occurring during the reduction of tungstic oxide. The inability to detect these pores under the electron microscope at 10,000 X implies that these {pores} are of a size of 100 A units or less. (This in itself is by no means proof that pores above 100 A would not exist, since polishing effects on the specimen might smear up holes of such small magnitude). If, then, these pores are less than IOO A. and of the order of molecular size, then the density of the metal powder should be

Jan 1, 1949

By A. Lee Barrett

The Maintenance Committee of the Coal Division of the American Institute of Mining and Metallurgical Engineers is presenting with this report the first of a series of cost comparisons which it plans to present the Institute. The plan is to assemble maintenance cost on all equipment connected with mechanical operations at the face of coal mines, to arrange these costs by districts, to make comparisons between districts, and within districts. This particular report covers data with respect to mobile loading machines, including both "on-track" and "off-track" equipment. It is anticipated—in fact, considerable data have already been accumulated—that next year complete maintenance costs by districts can he presented for complete loading units, including the various classes and combinations of on-track and off-track equipment. Data have also been collected with respect to some phases of maintenance methods and certain recommendations of the committee are included dealing with maintenance problems. In the assembly of these data more than 120 questionnaires were sent to operating companies throughout the United States. At the time the report was written 33 questionnaires had been returned with completed information and an additional group of companies had written that the information requested was not at present available but that they hoped to have such information available in the not far distant future. The replies as

Jan 1, 1947

By A. Lee Barrett

The Maintenance Committee of the Coal Division of the American Institute of Mining and Metallurgical Engineers is presenting with this report the first of a series of cost comparisons which it plans to present the Institute. The plan is to assemble maintenance cost on all equipment connected with mechanical operations at the face of coal mines, to arrange these costs by districts, to make comparisons between districts, and within districts. This particular report covers data with respect to mobile loading machines, including both "on-track" and "off-track" equipment. It is anticipated—in fact, considerable data have already been accumulated—that next year complete maintenance costs by districts can he presented for complete loading units, including the various classes and combinations of on-track and off-track equipment. Data have also been collected with respect to some phases of maintenance methods and certain recommendations of the committee are included dealing with maintenance problems. In the assembly of these data more than 120 questionnaires were sent to operating companies throughout the United States. At the time the report was written 33 questionnaires had been returned with completed information and an additional group of companies had written that the information requested was not at present available but that they hoped to have such information available in the not far distant future. The replies as

Jan 1, 1947

By Theodore Nagel

Fuel-oil, natural gas and coke oven gas, producing the higher temperatures of open-hearth current practice, have been gradually displacing producer gas the lowest cost fuel for open hearth operations. The lower temperatures of combusts on products from producer gas is caused by nitrogen dilution. Practical Application of Combustion Thermochemistry One pound of carbon burned to CO produces 3,960 B.T.U. and one pound of carbon burned to C02 produces 14,140 B.T.U. The second unit of oxygen uniting with gasified carbon (CO) produces (14,140 - 3,960) 10,180 B.T.U. which is (10,180 - 3,960) 6,220 B.T.U. more heat than produced by the first unit of oxygen forming CO by uniting with solid carbon. A review of the relative combustion heating values of commercial gaseous fuels reveals CO requires a minimum of air for combustion and because of minimum nitrogen dilution and the high thermal release from CO higher temperature combustion products are produced from CO than from natural gas or from coke-oven gas under similar combustion conditions. Inert nitrogen diluent lowers the calorific value of fuel gas and its diluting effect is cumulative in lowering the temperature of the products of total combustion. It is not only logical but practical in partial combustion, converting bituminous coal to gas, to generate the gas with reduced nitrogen dilution.

Jan 1, 1936

By H. W. Dow

Quite early in the beginning of the present century, hoisting equipment underwent a radical change, when electric motors were applied to furnish the power in place of steam engines. Naturally, in the beginning, motors were not employed for large hoists: most of them were small single-drum hoists for which the motor ran continuously and the drum was clutched in for hoisting by various methods, and the down-going trips were made on the brake. In 1911 the Nordberg Manufacturing Co. of Milwaukee built for the first time a double-drum hoist powered with a first-motion direct-current motor (Fig. I). This hoist embodied many of the features that are used on larger hoists today. In the early development of motor-driven hoists a more or less natural mis- take was generally made, which only recently is being corrected. Because the electric motor has a higher speed than the steam engine, mining people in general accepted, without question, the use of small-diameter drums and the resultant finding of the rope in multiple layers, which was not at that time, the general practice on first-motion steam hoists. Small-diameter drums can usually be driven by a motor through a single reduction of gears even with relatively high motor speed, therefore the complete equipment could be obtained with a lower first cost.

Jan 1, 1946