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By Edward O’Toole

THe Pocahontas district occupies the extreme southern end of West Virginia, principally McDowell, Mercer and Wyoming counties, and a part of Tazewell county, in southwestern Virginia. The first record of the coal field is a report by Prof. J. P. Lesley, of Pennsylvania, about 1880, in which he mentions a coal opening at the upper end of Abbs Valley, Tazewell county, Va. C. R. Boyd, a mining engineer of Wytheville, Va., published a series of articles in 1881, mentioning coal on Indian Creek, Tazewell county, and on Horse Pen creek, which coals, he stated, extended toward the Ohio River. He also mentions the Abbs Valley coal reported by Lesley. In 1881, F. J. Kimball (who became president of the Norfolk & Western R. R. in 1883)) after examining the Scott mine in Abbs Valley, went northward across Abbs Valley Mountain to the place now known as Pocahontas, where he located what has since been called No. 3 vein of Pocahontas coal. In November, 1882, Jed Hotchkiss and others prepared a cross-section of the Flat Top Mountain coal measures, some notes on which were published by Mr. Hotchkiss, between 1880 and 1892, under the title of " The Virginias.' In May, 1881, the Norfolk & Western R. R. was organized through the purchase of the Atlantic, Mississippi & Ohio R. R., an old line running from Norfolk, Va., to Bristol, Tenn., with branches from Petersburg to City Point and from Glade Springs to Saltville. At that time, charters had been granted for three railroads tributary to the New River Valley, but their proposed routes would indicate that the promoters were concerned with minerals, timber, and a connection with the Chesapeake & Ohio R. R., rather than the development of any coal in the Pocahontas district. One of them was projected to extend up Bluestone River a short distance, but not far enough to reach the coal in the Bluestone Valley, and a little grading was done for a narrow-gage road between New River Station and a point in Giles county, Virginia, near the West Virginia line. All charters and railroads in this district were acquired by the Norfolk & Western R.R.

Jan 1, 1925

Jan 1, 1957

By J. P. Morris

PREVIOUS investigations1,2 have shown that alloying elements in liquid iron influence the thermodynamic activity of sulphur and thereby affect the partition of sulphur between metal and slag in the desulphurization process. For example, the greater efficiency of desulphurization in the blast furnace as compared to the open hearth can be attributed in part to a higher level of sulphur activity in blast-furnace metal due to the higher concentration of carbon and silicon. In the present investigation, a short study was made of the influence of manganese on the activity of sulphur in liquid iron and iron-carbon alloys. In contrast to carbon and silicon, manganese was found to decrease the activity coefficient of sulphur; and in iron-carbon alloys it counteracts to some extent the influence of carbon. However, at manganese concentrations normally present in the blast furnace or open hearth, the effect of manganese is small. Since manganese sulphide has a limited solubility in iron, manganese can act, under certain conditions as a desulphurizing agent. Considerable data on the manganese-sulphur product in carbon-saturated melts were obtained in the investigation and have been included in this report. The experimental procedure was the same as that used in the earlier investigations on the effect of silicon' and carbon' on sulphur activity. Briefly, the method was as follows: The molten alloy, contained in a graphite or sintered alumina crucible, was brought to equilibrium at a constant temperature with a mixture of hydrogen and hydrogen sulphide of constant composition by bubbling the gas through the metal. Samples of' the melt were taken for analysis at regular intervals by suction through a 2 to 3 mm bore silica tube dipped into the metal. The experiments were run in a graphite spiral resistance furnace with melts weighing 50 to 60 g. The gas bubbling tubes were made of sintered alumina and were 5/16 in. OD, 1/16 in. ID, and 24 in. long. Equilibrium was assumed to have been attained when the sulphur content of the liquid metal reached a constant value. During an experiment there was a rapid loss of manganese from the melt by volatilization. To offset this loss, small additions of manganese were made periodically. The rate of manganese addition needed to maintain a constant manganese concentration was determined in preliminary tests. In all of the experiments, deposits of manganese sulphide formed above the melts in a cooler region of the furnace. Apparently, these deposits resulted from a reaction between manganese vapor and hydrogen sulphide in the gas. To prove that manganese sulphide did not volatilize from the melts to a measurable extent, an experiment was run in which helium was bubbled through liquid iron containing both manganese and sulphur. Although manganese volatilized rapidly in this test, there was no appreciable loss of sulphur. Volatilization of manganese sulphide from a melt would have led to an apparent equilibrium condition in which the sulphur content of the metal was lower than the true equilibrium value. The experimental results are shown in the first seven columns of Table I. The data in the last two columns were obtained from the previous work on the effect of carbon' and show what the results would have been in the absence of manganese but with temperature, gas composition, and carbon content of the metal remaining the same. Comparison of the last four columns show that, in the presence of manganese, the sulphur content of the metal increased at equilibrium and the activity coefficient of sulphur decreased. However, the results show that, for manganese concentrations below 3 pct, the effect of manganese is small. The values for activity coefficient of sulphur given in Table I were calculated from the following relations: S (in liquid metal) + H2 (gas) = H2S (gas) [l] K ph2s/?s X %S X phg = 0.00251 [2] where K is the equilibrium constant for the reaction, PH2S and ph2 are the partial pressures of hydrogen sulphide and hydrogen, respectively, and ?s is the activity coefficient of sulphur. The standard state for sulphur was taken to be a 1 pct solution of sulphur in pure iron. The numerical value for K at 1600°C was determined in the earlier work. For the purpose of showing graphically the results of the tests run at 1600°C, the activity coefficients of sulphur were recalculated so as to correspond to a manganese concentration in the metal of 2 pct in each case. In the calculation it was assumed that the increase in sulphur content of the metal at equilibrium caused by the presence of manganese

Jan 1, 1953

By C. W. Goodale

I. INTRODUCTION. In the summer of 1909 the Boston & Montana reduction department of the Anaconda Copper Mining Co. completed a new flue system, at a cost of about $1,100,000, and -is this includes the largest and highest chimney in the world, and some new features of flue construction, a description will be of interest. At the Spokane meeting of the Institute in September, 1909, a brief mention was made of this flue system, in discussing Mr. Brunton's presidential paper on the Progress of Metallurgy in the West, and a promise was given that when a long enough time had elapsed, so that operating results could be given, a paper would be offered. The smelting plant includes blast furnaces, MacDougall roasters, gas-fired reverberatories, and converters.

Jan 8, 1913

By Kenneth A. Gutschick, Robert S. Boynton

Lime has become a general and loosely used term to denote almost any kind of calcareous material or finely divided form of limestone or dolomite, as well as burned forms of lime. However, according to Webster, lime is only calcined limestone (known as quicklime, unslaked lime, or calcium oxide). It also embraces the secondary product of quicklime, i.e., hydrated lime or slaked lime (calcium hydroxide). There are two basic types of limestone used for lime manufacture-high calcium and high magnesium (dolomitic). The dolomitic quicklimes and hydrated limes correspond to their "high calcium" counterparts. The only difference is that the dolomitic types are a combination of the elements calcium and magnesium, in varying percents, whereas high calicum limes contain less than 5% MgO down to 1/2%. In either case a pure form of limestone of at least 97% combined carbonate content is needed to make salable lime, barring a few exceptions. The calcination of both types is diagrammed chemically as follows: [ ] In the foregoing reversible reactions the limestone is burned (calcined) in lime kilns, with the carbon dioxide content of the stone expelled as a gas. The weight loss during calcination of pure high calcium limestone is 44%; with equimolecular dolomitic limestone, the weight loss is 48%. Since lime has a strong affinity for CO_, particularly if moisture is present, it will readily revert to its original carbonate form. This occurs when quicklime "air-slakes" and adsorbs CO.. from the air. Thus, quicklime is perishable and should be stored in dry, water-tight areas. Depending upon the type of kiln used and the physical structure of the stone, the size of the quicklime may range from sandlike granules to 8 in. lumps. However, pebble sizes ranging from 1/4 in. to 2 in. are the most common. Screened quicklime fines are also com¬pressed (pelletized) into 1 in. pellets. For some purposes ground or pulverized forms of quicklime are used, ranging from No. 10 mesh to dust. Generally a pebble of quicklime is about the same size as the pebble of limestone before calcination (perhaps shrinking slightly). A more stable form of lime is hydrated lime. This is obtained by adding water to quicklime, slaking it into a dry, fine, subsieve size white powder. Because its affinity for moisture has been satisfied, it is not vulnerable to further moisture like quicklime. However, it has the same strong affinity for CO_. The following reversible chemical reactions illustrate how hydrated lime when heated (or dehydrated) can revert to the original oxide form:

Jan 1, 1975

By Marius R. Campbell

VArIoUs classes of coals are recognized in this country at the present time. These classes depend largely upon physical characteristics rather than upon chemical composition, and consequently they cannot be accurately defined. The divisions into anthracite, semi-anthracite and semi-bituminons are fairly satisfactory; but the term bituminous embraces so large a variety of coal that it is of little value, and the term lignite is so loosely applied that it has little or no place in a scientific classification.

Jan 1, 1906

By Charles B. Dudley

DEAR SIR: It is now nearly three years since my first report to you on the subject of steel rails was written. That report, as you will remember, dealt principally with the question of the relation between the chemical composition and physical properties of steel rails end their power to resist crushing and fracture in actual service. Other matters were referred to or touched upon in that report, but the main question was, Why do some rails crush or break in service while others do not? Yon will doubtless remember that the principal conclusion arrived at was, that the softer rails are less liable to Crush or break in service than the hard ones. Or, in other words, so far as conclusions could be drawn from the chemical analysis and physical test of 25 samples of steel rails which had actually been in service, these conclusions were that those rails which have the smaller amounts of carbon, phosphorus, silicon, and manganese are less liable to crush or break in service than those which have larger amounts of these elements. Or, again, looked at in the light

Jan 1, 1881

By Dwight K. Smith, Greg Carter

Studies have been conducted on The properties of many deep well cementing compositions to determine their Strength behavior over curing periods to 180 days at elevated tem-peratures and 3,000 psi pressure. This pressure results in essentially the .vat, compressive strength as that obtained with much higher pressures in ac-cordance with the findings of an API subcommittee ' These different compositions include API C1asses A, E, and F cements containig additives such as retarders, berrtorlite, heavy weight materials and pozzolans. All compositions except mixtures of Poz-zolrrrts and hydrated lime show from mild to severe degrees of strength lass over a temperature rang from -730 to 320" F after setting. Pozzolatl-time compositions actually gain in strength with time at these high temperatures. Other chemical find physical properties evaluated to observe their inter-relation.ship with Strength loss show very little correlation except in per-meability. As retrogression in strength increases, the permeability of set cement increases. X-ray difraction patterns on the set products indicate the formation of certain compounds having little or no strength value in those cementing compositions where strength loss was more severe. INTRODUCTION As a result of the growing trend toward deep well completions, a study has been made on the properties of the various cementing slurries presently in use at elevated temperatures and pressure. The strength of these compositions is of prime importance in selecting the most suitable material for use at high temperatures, to determine WOC time and the proper time to perforate with a minimum of shattering. Of primary interest in this investigation was the strength behavior of various compositions currently in use, and the effect of additives on cement after long periods of curing under severe conditions. Earlier investigators have pointed out that the strength of some cements will increase with increasing curing temperature to about 220 to 340" F, but at higher temperatures a loss in strength occurs at extended time intervals. Studies by the API Mid-Continent District Study Committee on Oil Well Cements' outlined a testing procedure whereby field conditions of temperature and pressure could be simulated in the laboratory.' It was observed that retarded cements undergo changes at elevated temperatures and some lose as much as 50 per cent of their early strength when cured at high temperatures. The scope of these tests was limited to curing periods of 1 to 28 days; additives were not covered in this study. Saunders and Walker' found that the use of additives influenced the strength behavior of cements at high temperatures, but studies were conducted only to a seven-day curing period. Ludwig and Pence' conducted an investigation of two types of cements under elevated pressures and temperatures in an effort to explain the causes of this loss in strength phenomenon. It was observed that with retrogression in strength there were other physical and chemical changes which took place as the cement aged. Today there are a number of cementing compositions available for use at well depths below 10,000 ft. Since all these earlier investigations were limited in curing time as well as the number and type of compositions studied, it was believed that a more extensive study should be conducted on the properties of cements at elevated temperatures, and this work should include those compositions actually in general field use at this time.

By Research Staff ? Verde Copper Mines

FLOTATION is now commonly practiced in alkaline ore pulps, yet little is known regarding the action of the alkaline solutions on the ore particles beyond the fact that films of oxidized material form. We wish to chronicle our discovery of the presence of soluble reducing agents in alkaline ore pulps of the United Verde, and present some data on lime consumption. During the grinding and flotation of a pyritic ore containing small amounts of ferrous sulfate and other soluble salts, an excess of lime was added to precipitate the salts, and filtered samples of the solution were titrated with standard permanganate solution. Even in pulps of high causticity an appreciable permanganate titration was always obtained, in spite of the fact that the solutions were shown to contain little iron. Investigation of the cause brought about the discovery of several previously unsuspected compounds in flotation pulps made from pyritic ore. Not only the reducing agents present had to be identified, but also the amount of dissolved oxygen, and a survey was finally made of the free oxygen content and reducing agents of the mill pulp in the concentrating mill at Clarkdale. A great many. compounds might form, caused by oxidation of pyrite or other metal sulfides or by reaction between a lime solution and pyrite. The most probable compounds considered were calcium sulfides, polysulfides, thiosulfates, and polythionates. Later it was discovered in the literature that in alkaline pulp polythionates do not exist and if introduced are decomposed into sulfites and thiosulfates.1 Any precipitated sulfur is changed by alkali into thiosulfate and polysulfide. Sulfites and sulfides react to form thiosulfate, so that in the end it is possible to have in an alkaline solution only thiosulfate and an excess either of sulfide or sulfite. Confirmatory tests were made and it was finally established that the alkaline mill pulps made from the United Verde ore contained

Jan 1, 1929

By J. L. Huiatt, M. C. Fuerstenau, M. C. Kuhn

Dithiophosphatogen is the species responsible for flotation of pyrite when dithiophosphate is added as collector. Oxidation of collector apparently occurs by reaction with oxygen adsorbed on the pyrite surface. Oxidation of dithiophosphate and xanthate is also effected with Cu++, Cu(OH) , and Fe+++ and rates of oxidation are presented as a function of pH. Reasons for the selectivity observed when dithiophosphate is added as collector in a natural ore system as compared to xanthate are presented and discussed.

Jan 1, 1972

By Thomas A. Edison

We have not yet begun. to realize the possibilities of automatic machinery, in part because we have not developed the designing brains, and in part because we have not sufficiently simplified industry to make possible the economical use of such machinery. The principle of the Jacquard loom, has scarcely been utilized except in weaving silk and in the player piano. It is the principle of bringing into action the various parts of a machine in accordance with a pattern traced on a steel card by perforations or as on the paper roll of a player piano. This principle gives us a control which can be applied to any kind of machine. It is a' great reserve principle for the future. But even now, with the machinery that we have at command, anyone can cut the number of employees in two, at the same time doubling his output, by installing semi-automatic or automatic machinery. And no one knows how far this process can go on. Cutting down the number of men is not just putting some poor fellows out of a job. It is increasing the number of good jobs by increasing the production per capita to a point where really satisfactory wages can be paid out of it, and this in turn- increases the amount of work required to be done and creates new jobs. Thus, cheapening in- creases the demand.

Jan 1, 1929

By Harry A. Roe

The power drag scrapers and the slackline cableway excavator have been called "long-range excavators." Broadly, their field of usefulness is restricted to work in which their long range of action permits them to operate economically, and which other, possibly more conventional, excavating units cannot do. Both of these machines dig or lift material and transport it to a remote dumping point. They combine these two functions in a single machine, nearly always in a single straight-line motion. The purpose of this paper is to examine the important features that distinguish the machines in this group from each other, as well as from other groups. The Machines The "power drag scraper" is a long-range excavating machine that employs a bottomless drag scraper operated back and forth between digging and dumping points by two haulage cables. The typical arrangement is that of Fig. 1. This is the "slusher" of the underground mine, as well as the "dragline scraper" of the sand and gravel industry, and other open-pit mining operations.

Jan 1, 1938

By Harry A. Roe

The power drag scrapers and the slackline cableway excavator have been called "long-range excavators." Broadly, their field of usefulness is restricted to work in which their long range of action permits them to operate economically, and which other, possibly more conventional, excavating units cannot do. Both of these machines dig or lift material and transport it to a remote dumping point. They combine these two functions in a single machine, nearly always in a single straight-line motion. The purpose of this paper is to examine the important features that distinguish the machines in this group from each other, as well as from other groups. The Machines The "power drag scraper" is a long-range excavating machine that employs a bottomless drag scraper operated back and forth between digging and dumping points by two haulage cables. The typical arrangement is that of Fig. 1. This is the "slusher" of the underground mine, as well as the "dragline scraper" of the sand and gravel industry, and other open-pit mining operations.

Jan 1, 1938

By Henry Schaefer

Solution by electric analogy of performance problems of reservoirs containing oil and gas has heretofore depended upon a process of successive approximations based on material-balance calculations, because of variation in fluid compressibility. By the addition or subtraction of electric condenser capacity, the analogy network can be adjusted automatically for changing compressibility due to evolution of gas in the reservoir. The addition of a condenser is accomplished by an electronic circuit, which is described; subtracting a condenser is done by merely opening the electrical circuit by means of a relay. Introduction V. Paschkis and H. D. Baker1 first developed in this country a method of applying the analogy of flow of electric current in noninductive circuits to solution of heat-flow problems and suggested its application for certain other problems, such as flow of fluids or mass transfer and chemical diffusion. Necessary details for applying the analogy to flow of fluids in porous media were developed by IV. A. Bruce;= he classified3 the types of analysis and predictions that can be made by the analogy in class I, when the reservoir contains oil but no gas for the period under consideration; in Class 2, when both oil and gas exist in the free state in the reservoir sometime during the period under consideration. Duplication of bottom-hole pressure history and predictions for class I reservoirs can be obtained directly by electric analogy. Until now, the solution of problems pertaining to reservoirs in class 2 was obtained by successive approximations along with material-balance calculations. The object of this paper is to present a method for simplifying the application of electric analogy to class 2 reservoirs, resulting in a solution of these problems as direct as is possible for class I reservoirs. This is accomplished by an electronic control circuit, which adjusts the analogy network for changing compressibilities of fluids contained in the reservoirs. Analogy Network In electrical phenomena the analogy to two-dimensional fluid flow in a porous media is that of current flow through an ideal conducting sheet. This sheet, perfectly insulated on both sides, has resistance and capacitance uniformly distributed throughout its area but is of negligible inductance. The need for having the surface boundaries perfectly insulated is that good correspondence may be had with a permeable fluid-conducting stratum bounded above and below by impermeable media. 111 actual application the ideal conducting sheet, which has distributed parameters, is replaced by a network having lumped values of resistance and capacitance—the resistances are series elements and the capacitances are shunt elements. The larger the number of lumped

Jan 1, 1947

By Henry Schaefer

Solution by electric analogy of performance problems of reservoirs containing oil and gas has heretofore depended upon a process of successive approximations based on material-balance calculations, because of variation in fluid compressibility. By the addition or subtraction of electric condenser capacity, the analogy network can be adjusted automatically for changing compressibility due to evolution of gas in the reservoir. The addition of a condenser is accomplished by an electronic circuit, which is described; subtracting a condenser is done by merely opening the electrical circuit by means of a relay. Introduction V. Paschkis and H. D. Baker1 first developed in this country a method of applying the analogy of flow of electric current in noninductive circuits to solution of heat-flow problems and suggested its application for certain other problems, such as flow of fluids or mass transfer and chemical diffusion. Necessary details for applying the analogy to flow of fluids in porous media were developed by IV. A. Bruce;= he classified3 the types of analysis and predictions that can be made by the analogy in class I, when the reservoir contains oil but no gas for the period under consideration; in Class 2, when both oil and gas exist in the free state in the reservoir sometime during the period under consideration. Duplication of bottom-hole pressure history and predictions for class I reservoirs can be obtained directly by electric analogy. Until now, the solution of problems pertaining to reservoirs in class 2 was obtained by successive approximations along with material-balance calculations. The object of this paper is to present a method for simplifying the application of electric analogy to class 2 reservoirs, resulting in a solution of these problems as direct as is possible for class I reservoirs. This is accomplished by an electronic control circuit, which adjusts the analogy network for changing compressibilities of fluids contained in the reservoirs. Analogy Network In electrical phenomena the analogy to two-dimensional fluid flow in a porous media is that of current flow through an ideal conducting sheet. This sheet, perfectly insulated on both sides, has resistance and capacitance uniformly distributed throughout its area but is of negligible inductance. The need for having the surface boundaries perfectly insulated is that good correspondence may be had with a permeable fluid-conducting stratum bounded above and below by impermeable media. 111 actual application the ideal conducting sheet, which has distributed parameters, is replaced by a network having lumped values of resistance and capacitance—the resistances are series elements and the capacitances are shunt elements. The larger the number of lumped

Jan 1, 1947

By J. L. Gillson

IN a brief summary of the many occurrences of fluorspar in our western states, it is not possible to go into detail in regard to the geology, mining and milling methods, and reserves about individual deposits. Rather a broad review is made of the occurrences and an analysis of how the western deposits may fit into our future domestic economy is presented. GENERAL STATEMENT ON FLUORSPAR SITUATION Fluorspar has been used for years as a flux in the manufacture of basic open-hearth steel, in foundry cupolas for melting pig iron, in the manufacture of opalescent glass and in the preparation of hydrofluoric acid. In 1880 the annual production of fluorspar in the United States was around 4000 tons per year. By 1900 it was up to 21,656 tons and between 1902 and 1908 it averaged about 40,000 tons annually. Prices were then so low, by present standards, that it seems impossible to believe now that mining could have been performed profitably at the price levels then prevailing. In 1890 fluorspar sold at the mines for $6.70 per ton, in I901 for $5.81, in 1916 for $5.92. When the United States entered World War I, fluorspar production and price skyrocketed; the production reached 263,817 tons in 1918, with prices above $20.00 per ton, and prices were even higher in 1919 and 1920. After 1920, the domestic production fell from the 1918 level to about 125,000 tons annually and the average price dropped back to about $I8.00 per ton. By 1935 the average price had fallen to $15.00, but in 194o with a rising demand the average price of all grades had gone back up to $20.31. Today it is 75 per cent higher than in 1940 and presumably the price of acid grade at least would be even higher if it were not for price ceilings. The first subsequent year that the domestic production exceeded that of 1918 was 1941, and the 1944 production is expected to exceed 400,000 tons, 'or over one and a half times that of 1918. In five-year periods, average production and imports were as are shown in Table I. [ ] Many people concerned with the consumption of fluorspar believe that the postwar period ahead will show a repetition of price trends of the last such period. They believe that imports will be- again an important factor in the available supply and the price will fall back gradually toward the prewar level. The following basic factors are pertinent in analyzing this conclusion:

Jan 1, 1945

By M. Kaitz

A continuing discussion in both the petroleum engineering and economic literature is directed to the difficulties encountered in the use of discounted cash flow rate of return (DCF) as a measure of investment worth. Although useful in most Instances, DCF has been criticized because it is time-consuming in its trial-and-error solution, theoretically invalid, not adaptable to cash flow streams yielding multiple return solutions and not entirely reliable in selecting between mutually exclusive investments. The theoretical invalidity of DCF stems from the reinvestment assumption implicit in the calculation that earnings are reinvested at the DCF rate. The emerging consensus of the economic literature is that the net present value or the present worth of the net cash flow stream (discounting at the average opportunity or cost of capital rate) is more correct and reliable. Other criteria proposed have been ratios of net present value divided by initial investment or by present value of all investments in a project. All of these criteria are simple to determine and explicitly assume a reinvestment rate for [he income generated by a project. This paper develops and discusses a theoretically valid profitability criterion which is simple to compute and retains the appeal of a percent return on investment. It is called "percentage gain on investment" or PGI. It measures the gain an investment is expected to realize over like capital invested in the average opportunity and explicitly considers reinvestment potential. Why add another Concept to the large array of investment criteria now available, any one of which, or perhaps a combination of several, appears to embrace the form's (or individuals) objectives? The answer is that not one of the existing criteria provides both a readily comprehensible and theoretically valid measure of risk coverage that has general application. The proposed PGI does fulfill these requirements. INTRODUCTION An ancient expression warns that "one must yield to the times" — there are better ways of doing things. A review of the petroleum engineering and economic literature on one topic alone, measurement of investment worth, certainly is witness to this truth. In use for a number of years, the DCF has recently received attention, directed mainly to its theoretical invalidity. Several alternatives to DCF have been proposed to provide a valid, simply determined criterion to describe investment worth and to overcome the criticisms previously mentioned. This paper introduces another method called percentage gain on investment (PGI) and is proposed as but one of several yardsticks that should be used in making investment decisions. MEASURES OF INVESTMENT WORTH This paper will consider only those criteria which give weight to the time pattern of future earnings. These criteria are usually compared with an average opportunity rate or cost of capital of the firm to judge the relative worth of the investment. For purposes of demonstration, a 9 percent average opportunity rate will be used throughout this paper. Implicit in the DCF calculation is the assumption that earnings are reinvested at the DCF rate. Some argue, though, that there is no reinvestment assumption,' that the DCF rate is simply that maximum rate of interest one can pay on the investment over the life of the project and break even. The determination of DCF is accomplished by discounting the net cash flow stream at that rate (DCF) which will yield zero. The question is: why should reinvestment potential be explicitly considered in calculating return on investment or other criteria measuring economic worth? Perhaps the answer lies in consistent or equal treatment of future cash flow. It appears entirely illogical to give different present worth value to $1 received, say, 10 years from now, which is the circumstance resulting in comparing projects with different DCF returns. In fact, $1 received in 10 years has the same value regardless of which project generated the income. DCF return thus favors investment projects which are expected to provide early income as compared to those providing long-term income. Not surprisingly, the controversy on reinvestment assumption is an old one. Hoskold' discussed this same problem in 1877. He considered the future income from mineral properties as an annuity or a series of fixed future payments. (As will be demonstrated, his equation can be modified for variable income.) Prior to Hoskold, the value or what one could pay for the mine, was determined with the use of standard, single-interest tables. Here is what Hoskold said with regard to these tables. "This table, and others of its kind, to be found in most works on annuities, is constructed correctly according to

By W. O. Philbrook, R. H. Spitzer, F. S. Manning

A generalized mathematical model has been developed to describe the kinetics of the gaseous, topo-chemical reduction of porous hematite spheres. Gas-solid reduction is permitted at each of three advancing interfaces and is controlled by a complex series-parallel sequence of chemical and transport steps. Despite the fact that transport resistances are significant to the advance of each interface, little deviation from linear advance is predicted for the first 98 pct of reduction. Calculations to predict the movement of magnetite /wustite interface by a solid-state diffusion mechanism have been incorporated into the earlier dense-pellet model.' The porous-pellet model is found to give a better description than the dense-pellet one for McKewan's measurements2 of interface movements in dense polycrystalline hematite reduced in hydrogen-water vapor mixtures. THIS paper reports a continuation of work"3" directed toward the better understanding of gas-solid reactions and the development of mathematical models that may be helpful in the design or control of ore-reduction processes. Laboratory studies of the reduction of single oxide samples in tube furnaces normally employ an abundant excess of pure reducing gas. Reduction may appear to be adequately described by a model assuming gas-solid reaction solely at the iron/wustite interface.''' However, when iron ore is reduced in either a fixed bed or an efficiently operated counter-current column, there are portions of the bed where the partially spent gas is no longer capable of reducing wustite to iron. Nevertheless, the formation of the intermediate reaction products, wustite or magnetite, can and does continue. In order to account for this aspect of the reduction of beds of particles, three semiempirical mathematical models were devised.' One of these was for the limiting case of completely dense particles, and two alternatives were provided for porous particles. For purposes of the analysis, a dense pellet was defined as one in which the wustite and magnetite layers were impervious to the reducing gas when the atmosphere was capable of forming iron. In a porous pellet, the intermediate product layers were assumed to be sufficiently permeable to allow reducing gas to penetrate beyond the iron/wustite interface to form wustite and magnetite by removal of oxygen as a gaseous product rather than by a solid-state redfiction mechanism. Further progress required a better understanding of the reaction of the individual particles with the gas stream. A comprehensive mathematical treatment was developed' to describe the continually changing interplay of transport and reaction steps

Jan 1, 1967

By Noel Cunningham

MANY excellent descriptions of the mills of the, Porcupine district have been written, but no discussion exclusively devoted to the metallurgical technology has been given. These notes are intended to cover this feature briefly. They are based upon 2 ½ years' mill operation in the district-i.e., practically since the beginning of metallurgical operations. Character of the Porcupine Ore.-There is no oxidized ore in the district, the surface having been deeply planed by glacial action in recent geologic time. The precious-metal content is about in the proportion of 85 of gold to 15? of silver by weight; hence, the silver is practically negligible. There are two classes of Porcupine ore, having very different characteristics; these will be referred to throughout this paper as Class A and Class B. Class A ore is a pure quartz with inclusions of schist. Generally it is heavily fractured .and breaks down readily to sharp, hard grains, about minus 10 plus 20 mesh, requiring further comminution to release the gold. It carries very little pyrite; the gold is entirely free and apt to be coarse, but often spongy, going into solution readily on that account. This gold is 60 per cent. to 85 per cent. free milling, depending on the grade of ore. Class B ore is an iron silicate schist, strongly laminated, carrying 4 to 5 per cent. pyrite; its specific gravity is 2.8 to 3.0, depending upon the amount of mineralization. In breaking the ore in the mine, generally over 25 per cent. of material through a ½ -in. ring is made; the ore readily breaks down in milling and makes a comparatively large amount of non-crystalline slime; owing to its high specific gravity, however, it is quick settling.' In my opinion, the gold in this ore is free, but so finely divided that it will neither pan nor amalgamate; it appears to be disseminated through the rock and not chiefly associated with the pyrite. Veins of Class A ore occur with or without side walls of Class B, and veins of Class B occur unassociated with Class A; more often the veins are closely banded, Class A and Class B alternating, generally with Class B in excess. Both classes of ore are more-or less blocky at times, and with ref¬erence to Class B this is indicative or low gold content.

Jan 3, 1915

By P. D. Frost, H. A. Robinson, J. R. Doig, M. W. Mote

The mechanism of hardening in heat-treatable zirconium alloys was foUNd to be analogous to that for titanium alloys. Zirconium containing a relatively large addition of a ß -stabilizing element such as molybdenum or columbium can be hardened by the following transformation: Lean alloys, having insufficient alloy content to retain ß at room temperature are hardened by the following transformation: Application of these findings in Zr-Mo-Sn and Zr-Nb-Sn alloys produced strengths as high as 190,000 psi with reasonable ductility. PRIOR research on zirconium alloys has been concerned with development of greater strengths and creep resistance by solid-solution hardening or by dispersion hardening. Although solution and aging heat treatments had been applied earlier to zirconium alloys, quenching frequently produced low ductility. The possibility that the ß-to-w transformation, discovered earlier in titanium alloys,' might also occur in zirconium alloys and cause low ductility was considered, and, indeed, was found as predicted2 to be the case. In the earliest experiments, the heat-treatment response of titanium, too, was disappointing. However, by avoiding the formation of the embrittling w phase, it became practical to obtain room-temperature strengths higher than 180,000 psi, with elongation values of 10 pct.3 Based on the present concept of titanium heat treatment, the principal requirement for a heat-treatable zirconium alloy is that it contains a certain minimum amount of one or more ß -stabilizing elements. Only molybdenum, columbium, and tantalum, when present in sufficient amounts, are known to stabilize ß zirconium to room temperature during rapid cooling from the ß field. Tantalum was undesirable because of its high thermal-neutron cross section. Aluminum and tin are effective a stabilizers, but aluminum has been shown to seriously decrease the corrosion resistance of simple zirconium alloys in hot water. Therefore, for the present study, tin was used as the stabilizer addition. The alloys selected for this evaluation are presented in Table 1 along with their analyses and ß-transus temperatures. The analyses indicated that intended compositions were usually realized. EXPERIMENTAL PROCEDURES All of the alloys were melted from sponge zirconium and fabricated to sheet for heat treatment

Jan 1, 1960