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Papers presented at two joint meetings of the Mineral Industry Education Division, Geophysics Committee, the American Geophysical Union and the Committee on College Curricula of the American Association of Petroleum Geologists, at the A I M E meeting in New York on Feb 17 and 18, 1941 At the first meeting, the Musing Geology Committee, the Society of Economic Geologists and the Committee on Applications of Geology of the American Association of Petroleum Geologists also took part [ ]

Jan 1, 1941

By Andrew B. Crichton

The oft repeated statements of the United States Geological Survey and the Bureau of Mines that the coal reserves in the United States are sufficient for 3000 yr have given us all a sense of security hard to disturb. If we discount that statement 66 pct, which to the uninformed seems drastic, we would still have 1000 yr supply, and why should mortal man worry about the difference between 1000 and 3000 yr supply of coal. That is exactly the attitude which many who should be better informed have taken toward the problem. A recent brochure "How Strong is America," by the New York Herald Tribune, states there is "no end to coal * * The truth is staggering * * U. S. has enough coal to last 4000 years." What the statement actually means is that the calculator got as high as 4000 yr and decided it was pointless to go on. The President's ERP Committee on Natural Resources and others in high places continue to assure the country of our superabundance of coal. In the past few days the "Wall Street Journal" carried an item from Director Boyd of the Bureau of Mines saying that within a hundred years we would need to triple our annual coal production of 600,000,000 tons, making it 1,800,000,000 tons annually, and at that rate we had coal reserves sufficient for 1000 yr. In my humble opinion, we cannot now or ever produce 1,800,000,000 tons annually, because we do not have the reserves in the producing districts to do it. Past reckoning in geology may be, as in the Psalms, a thousand years are as yesterday, but the future must be considered more realistically, and " a thousand years" is really a "heck" of a long time. In most developed areas, mining engineers can count the coal reserves in terms of a hundred years or less, and in some important areas now producing large annual tonnages in much under fifty years. They think when they hear of thousands of years coal reserves, reference is made to distant fields and "the fields are always green far away." The estimates of our coal reserves upon which we are relying were made in 1907 under the direction of Marius R. Campbell, Director of the United States Geological Survey. It is apparent this work was not well done. It was necessarily based on rather meager data because of the little development and prospecting as of that date. There were mistakes in the correlation of seams, and they assumed the continuity of thick seams throughout large coal bearing areas where coal often did not exist. The overstatement of coal bearing areas in the Campbell figures are common. The 1907 survey includes all coals over 14 in. in thickness to a depth of 3000 it. The total coal reserves according to Campbell were 3157.2 billion tons. The production and mining losses that year would amount to 570 million tons and

Jan 1, 1949

By M. E. True, B. L. Stone

To cope with the problems encountered when drilling at greater depths and to reduce the amount of physical effort required on the part of drilling crews in making round trips, a new type of semiautomatic power-operated drilling machinery has been developed which permits round trips to be made without the drill pipe being touched by hand. This equipment consists of hy-draulically operated tongs which perform the stabbing, spinning, and tong-ing operations, and two power-operated racking units mounted in the derrick for carrying the pipe to and from the center of the hole and positioning it on the mat and in the rack. With this equipment all of the operations of the various units are controlled remotely by manipulation of hydraulic valve levers and electric switches. INTRODUCTION As horsepower rises to meet the demand for deeper drilling, it is necessary to increase the weight of surface drilling equipment. Also, the duration of repetitive operations in making round trips to change bits is greatly increased with depth. Harder formations encountered at greater depths reduce bit life rapidly, resulting in more frequent round trips and in some instances more time is consumed in changing bits than in drilling. Since the introduction of the first rotary employed to drill for oil in 18951, there has been relatively little change in the general procedure for making up, breaking out, stabbing, and racking drill pipe in making round trips to change bits. The conventional method of making round trips with the drill pipe requires that drilling crews lend strenuous physical assistance to manually operated tools. Although many new devices have been developed to improve efficiency, increase speed of making round trips, improve safety, and reduce the amount of physical effort required in handling drill pipe, it is considered a vital necessity to substitute automatic or semiautomatic power-operated machinery for many of our more or less manual operations if extremely deep drilling is to be carried out successfully on a production basis in the same manner as our shallower drilling of today. Field tests have been made of remotely controlled power-operated tongs, spinner, stabber, and racking equipment. The tongs, which include a built-in pipe spinner, are mounted on a column, are capable of gripping and supporting the weight of a 90-foot stand of drill pipe, and are provided with means for moving the pipe vertically as well as to and from the center of the hole. The racking equipment consists of two units, one at the level of the conventional monkey board and the other at the first girth on the ladder side of the derrick. Most of the physical effort of making round trips with drill pipe has been eliminated in that all of the operations of tonging, spinning, stabbing, and racking of pipe on the floor are controlled by an operator in a seated position by manipulation of hydraulic and electric valve levers and buttons. The driller is relieved of operating the cathead, leaving only the hoisting and slips to be controlled. Complete round trips are made without the drill pipe being touched by the drilling crews. Although the speed of pulling or running a single stand with the power-operated equipment is approximately the same as that with conventional equipment, it is possible to maintain this rate for long periods, whereas fatigue slows crews working conventionally during round trips, especially under adverse weather. After completing round trips with this equipment, drilling crews are not exhausted, consequently, are able to perform effectively their duties while drilling, which is essential for maximum over-all efficiency. Safety is substantially improved as the derrickman performs his duties from a platform enclosed by rails and the tong lines and spinning chain are eliminated from the derrick floor. The hazards encountered in racking drill pipe on the floor and in stabbing are also eliminated. Figure 1 shows a drawing of a derrick equipped with the power-operated drill'pipe handling equipment.

Jan 1, 1949

By M. E. True, B. L. Stone

To cope with the problems encountered when drilling at greater depths and to reduce the amount of physical effort required on the part of drilling crews in making round trips, a new type of semiautomatic power-operated drilling machinery has been developed which permits round trips to be made without the drill pipe being touched by hand. This equipment consists of hy-draulically operated tongs which perform the stabbing, spinning, and tong-ing operations, and two power-operated racking units mounted in the derrick for carrying the pipe to and from the center of the hole and positioning it on the mat and in the rack. With this equipment all of the operations of the various units are controlled remotely by manipulation of hydraulic valve levers and electric switches. INTRODUCTION As horsepower rises to meet the demand for deeper drilling, it is necessary to increase the weight of surface drilling equipment. Also, the duration of repetitive operations in making round trips to change bits is greatly increased with depth. Harder formations encountered at greater depths reduce bit life rapidly, resulting in more frequent round trips and in some instances more time is consumed in changing bits than in drilling. Since the introduction of the first rotary employed to drill for oil in 18951, there has been relatively little change in the general procedure for making up, breaking out, stabbing, and racking drill pipe in making round trips to change bits. The conventional method of making round trips with the drill pipe requires that drilling crews lend strenuous physical assistance to manually operated tools. Although many new devices have been developed to improve efficiency, increase speed of making round trips, improve safety, and reduce the amount of physical effort required in handling drill pipe, it is considered a vital necessity to substitute automatic or semiautomatic power-operated machinery for many of our more or less manual operations if extremely deep drilling is to be carried out successfully on a production basis in the same manner as our shallower drilling of today. Field tests have been made of remotely controlled power-operated tongs, spinner, stabber, and racking equipment. The tongs, which include a built-in pipe spinner, are mounted on a column, are capable of gripping and supporting the weight of a 90-foot stand of drill pipe, and are provided with means for moving the pipe vertically as well as to and from the center of the hole. The racking equipment consists of two units, one at the level of the conventional monkey board and the other at the first girth on the ladder side of the derrick. Most of the physical effort of making round trips with drill pipe has been eliminated in that all of the operations of tonging, spinning, stabbing, and racking of pipe on the floor are controlled by an operator in a seated position by manipulation of hydraulic and electric valve levers and buttons. The driller is relieved of operating the cathead, leaving only the hoisting and slips to be controlled. Complete round trips are made without the drill pipe being touched by the drilling crews. Although the speed of pulling or running a single stand with the power-operated equipment is approximately the same as that with conventional equipment, it is possible to maintain this rate for long periods, whereas fatigue slows crews working conventionally during round trips, especially under adverse weather. After completing round trips with this equipment, drilling crews are not exhausted, consequently, are able to perform effectively their duties while drilling, which is essential for maximum over-all efficiency. Safety is substantially improved as the derrickman performs his duties from a platform enclosed by rails and the tong lines and spinning chain are eliminated from the derrick floor. The hazards encountered in racking drill pipe on the floor and in stabbing are also eliminated. Figure 1 shows a drawing of a derrick equipped with the power-operated drill'pipe handling equipment.

Jan 1, 1949

By Ben B. Cox

During the past year considerable progress was made in the exploitation of Iraq's resources, although no new fields were discovered. The principal development was the completion of the much heralded pipe line from Kirkuk to the Mediterranean, by the Iraq Petroleum Co., Ltd., and the beginning of crude exports to Europe on the second of August. Official ceremonies for the opening of the lines took place in January, 1935. The line in itself is sufficient achievement under the existing natural handicaps to deserve a moment's attention. It is 1151 miles long, composed of two independent lines made up mostly of 12-in. with some 10-in. and 8-in. pipe, and extends from Kirkuk westward 156 miles to beyond the Euphrates River as a double line. From that point, near the village of Haditha inside the Iraq border, it bifurcates, one leg going as a single line to Haifa through the British Mandated Territories of Trans-Jordania and Palestine, and the other to Tripoli through the French Mandates of Syria and the Leban(on)ese Republics. The total length of the Tripoli line is 532 miles, of the Haifa line 619 miles. The line leaves Kirkuk at an elevation of 1013 ft., drops to 350 ft. at the Tigris, to 200 ft. at Wadi Tharthar west of the Tigris and again to 300 ft. at the Euphrates, rises to more than 3150 ft. at mile 451 on the central Arabian steppe along the south line and to more than 2500 ft. at mile 466 along the north line. On crossing the rift valley of the Jordan River south of Galilee, it drops abruptly below 850 ft. below sea level, requiring the use of extra heavy 8-in. pipe and a relief station to reduce the pressure. A picked group of American welders, under H. S. Austin, of the Ajax Pipe Line Co., laid the line. It is coated, wrapped, and buried 30 in. beneath the surface in solid rock along much of the route. It crosses four large rivers and wide stretches of alkaline soils. Twelve pumping stations are employed, three of which are double east of the bifurcation. Each single station houses three 500-hp. crude-burning deisel engines flexible-coupled to reciproratirig pumps. Each pumping unit is capable of handling a minimum of 21,000 bbl. of oil, giving the entire system a

Jan 1, 1935

By J. E. Tobey, David R. Mitchell, J. H. Kerrick

DETAILED knowledge of purchase specifications established by coal consumers is essential to the successful design and operation of a coal-preparation plant. ANTHRACITE Specifications should be considered by both the consumer and the producer as guide posts outlining a certain path for both to follow. Plants differ, therefore specifications must differ to meet the varied requirements. Specifications are not of themselves a "cure all" or an assurance of complete satisfaction in fuel utilization. Specifications should not be regarded as a license to engage in an orgy of buying any and all coals that may happen to fall within their limits. This would lead to the-indiscriminate mixing of coals which may vary in their burning characteristics. Different coals of equal grade tend to be individualistic in their burning characteristics. Rather, specifications should be used to help simplify coal selection, to reduce the actual number of coals used over a given period; in other words, to have a stabilizing influence on coal or customer turnover. In the final analysis, the use of too many coals per year in a plant is costly to both the consumer and the producer. Too many sources usually result in higher operating and maintenance costs for the consumer and higher sales costs for the producer. Finally, the statement included in the report accompanying the comprehensive Coal Selection Charts prepared by the Coal Committee of the National Association of Purchasing Agents, and released in 1938, is significant. This Committee worked diligently for a period of 15 years seeking to find a scientific and reliable method for selecting coals. The two following paragraphs are quoted from its report: More important is the fact that no ready-made classification or set of specifications can possibly replace the judgment and resourcefulness of an experienced combustion engineer, or fuel technologist, nor the usual need for full scale plant tests under the exact conditions of use before a final decision is made . . .

Jan 1, 1943

By P. D. I. Honeyman

Changing trends in concentration, involving regrinding with the subsequent production of a finely divided, high-grade flotation product, presents a real problem to the modern copper smelter. In the treatment of such a material, handling difficulties are numerous and potential possible losses may be very great. In many plants, of course, preliminary roasting of the furnace charge remains an economical necessity. Under such circumstances, the operator has no alternative except to follow orthodox roaster reverberatory practice, though taking all possible precautions to avoid excessive dust losses and bad working conditions. In other plants, roasting is not only unnecessary but would be highly undesirable, and at best the charge would be merely dried before entering the reverberatory furnace. In the latter case the possibilities of raw charging loom large. The Miami plant of the International Smelting Co. handles the entire output of concentrates of the several mining companies operating in the Globe-Miami district. All of these companies produce a flotation concentrate which, at the Miami Copper Co. particularly, is all reground and is high in grade. In addition, the Inspiration Copper Co. ships a substantial tonnage of high-grade cement copper to the smelter from its leaching plant. Following the flow sheet of the original plant, all such material received was bedded, dried in Wedge furnaces and smelted in reverberatory furnaces. At times during the history of the plant it has been necessary to carry the drying operation further, to a partial roast, before reverberatory smelting. Since the charge contained over 80 per cent flotation concentrates, the handling of which in a dried condition was at best a dusty job, unusual precautions were taken to cut down dust losses. The Wedge furnace plant was equipped with a Cottrell treater and all hoppers and calcine cars were carefully designed to cut down dust loss in transferring the so-called calcine from hoppers to car and from car to furnace. In the furnace itself the dusting problem was a severe one. Arch erosion was very rapid and flues and waste-heat boilers rapidly filled up with a partly smelted flue dust.

Jan 1, 1934

By V. H. Gottschalk

SEVERAL years ago a group in the metallurgical division of the U. S. Bureau of Mines began a study of the application of new developments in physics to metallurgical problems'. Among these developments were the extensions of what may be termed by analogy the "sound spectrum." Electromagnetic waves, from X-rays to radio waves, have been quite thoroughly explored for metallurgical use, but the sound spectrum, extending from low-frequency vibrations involved in certain types of metal failure by fatigue through the range of audible sound to inaudible vibrations having frequencies of many kilocycles, has had only meager consideration from metallurgists. Because of the general interest in the process recently demonstrated by St. Clair3 for flocculating smoke by means of sound waves, this article is written to point out possible applications of sound and supersonic (ultrasonic) waves in the metallurgical industry.

Jan 1, 1937

By Yoshinao Nakada

In many experiments involving electropolishing such as electropolishing during deformation and electrothinning of deformed metals for electron microscopy, it is usually assumed that the specimen temperature is the same as the temperature of the polishing bath. In order to test this assumption, the interior temperature of aluminum single and polycrystals was measured while they were being electropolished. Specimens were 1/4 by 1/4 by 6 in. and were of 99.99 pct purity. A small hole 1 in. deep was drilled axially at one end of the specimen so that a copper-constantan thermocouple could be inserted. The electropolishing solution was 4 parts methanol (reagent grade) and 1 part perchloric acid (70 pct). The electropolishing was performed using an apparatus shown in Fig. 1. The electropolishing solution was stirred by a motor-driven stirrer and was cooled to —5°C with a mixture of methanol and dry ice. Electrolyte temperature was measured and remained at -5°C during the electropolishing. Current density of 0.3 amp per sq. cm was used. When the current was turned on, after about a 5-sec delay, the temperature began to rise rapidly until it reached 65°C. In order to determine whether the temperature measured was localized, the thermal expansion of the specimen was meas-

Jan 1, 1965

By Arthur Clark, Terrill

THE Tri-State field is now believed to be the largest zinc district in the world. It has a potential production sufficient to supply the entire zinc demands of the country. It is estimated that a train 70 miles long would be required to haul the district's 1919 output of 60 per cent. zinc concentrates. For many years,, including 1917, Missouri surpassed Oklahoma in zinc production. In 1918, however, Oklahoma led by a wide margin and, in 1919, Missouri produced less than one-sixth of the total for the three states, when Kansas replaced Missouri in second place in the production. The district is now producing one-third of the zinc of the world and twice as much as ever before at the present price.

Jan 1, 1920

By Wayne Anderson

Regarding the technical paper by Thomas E. Finch and Edward L. Fidler, "Recovery of Stray (Thin) Seams in Western Coal Mining." I would like to comment on this subject. In western Canada, most strip mines encounter thin seam coal or rider seams. Although the paper addresses the problems and costs associated with the recovery of this coal, it does not take into account what the savings are. Without looking at the savings, the "Total Objective" is of course not clear. I feel that in a stripping operation the mine can spend per ton (of the thin seam) up to their dragline stripping costs per ton to recover a rider seam or thin seam. The reasoning behind this is simply that this is the price the mine will have to pay to expose an equivalent amount of coal without the recovery of these thin seams. If the mine can recover a rider seam or thin seam for less than the dragline operating costs per ton, a savings will be realized. By recovering a thin seam or rider seam, the life of an ore body is extended by that amount of coal not thrown away. In addition, the cost of land acquisition, associated permits, capital, and reclamation will be reduced as more coal is delivered for a given area. When the above points are considered, the recovery of these thin seams can be very profitable and indeed worth recovering.

Jan 1, 1983

By Donald Barton

THIS paper outlines a time-saving graphical method of calculation for application to the interpretation of observations with the Eötvös torsion balance. Preliminary to the treatment of this short cut method which has been found practicable, the principal formu-las by which the student of interpretation can calculate the gradient and differential curvature produced by different types of bodies in different types of situa-tions are presented and discussed. It is necessary to split most geologic bodies into a series of simpler ones for which not too complicated formulas are avail-able. The gradient and differential curvature effects are calculated for each of the simple bodies and then summed to the total effect for the whole body. The calculations are considerable in number and, though more tedious than difficult, should be' entrusted to an experienced calculator. Considerable facility in qualitative interpretation can be acquired by the geophysicist from experience and from a thorough study of the types of gradient and differential curvature anomalies produced by the dif-ferent types of possible structural situations. How-ever, semi-quantitative calculations' of the probable structure bring out many relations that are not evident in a simple inspection of torsion balance results ; it throws out as impossible or improbable certain of the alternative structural possibilities that may seem equally probable under simple inspection of the results; it will determine more accurately the position of the crest of the structure; and reduce considerably the un-certainty in the interpretation and it is necessary to intelligent interpretations. The calculation of such cross-sections consists of a trial-and-error calculation of a body that will give gradient and differential curvature effects as closely as possible the same as those observed. From his knowledge of the gradient and differential curvature produced by different types of bodies, the geophysicist sketches a tentative cross-section of the structure as indicated-to him-by the observed results of the torsion balance survey, and the calculator then splits the struc-ture into blocks, and calculates the gradient and differ-ential curvature block by block. If, as rather usual, the calculated .gradient and differential curvature pro-files diverge considerably from, the respective observed ones, it is necessary to add and subtract blocks from the cross-section until a close agreement is obtained .between the calculated and observed profiles. The com-plete calculations have to be gone through for each block that is added or subtracted.

Jan 9, 1928

By Robert W. Hunt

PeRhaps of all the scientific economic questions which have been claiming the attention of capitalists, metallurgists, manufacturers, directors of public utilities, and the general public of America, during the last few years, none have been of more importance than the one relating to the wear and safety of steel rails. The discovery of the Bessemer process made possible modern railway development. In that growth, as has generally happened in all progressive movemeuts, all its departments have not remained equally balanced. Iron rails permitted the construction of roadways for the passage of power-driven vehicles. In time the speed and weight of such carriages proved too much for the wearing-qualities of the rails, and the limit of railway capacity seemed to have been reached. Bessemer made his invention, which was soon perfected and developed, especially as related to steel rails, and thereby increased the limit of capacity, and vastly greater railway progress was made pgssible. The Siemens-Martin open-hearth process followed, and was later supplemented by the Thomas-Q-ilchrist basic improvement. For a time the Bessemer steel rails of commerce were more than equal to all that was asked of them, but this did not long continue, as evidenced by the records in our Tansactions. Revolutionary changes occurred in the industrial world, and in no part of it more than in steel-rail manufacture. Great and powerful commercial combinations were made, whose financial resources made possible the supplanting of the then most efficient blast-furnaces, steel-works, and mills, by others of theretofore unimagined capacity. Old traditions and practices of steel-making were wiped away, and, in too many cases, output was apparently the chief aim, with the result that much dissatisfaction with the wear and safety of rails was felt by railway officials, and the general public was concerned as to its safety when traveling. The climatic conditions of the winter

Jan 1, 1913

By AIME AIME

THE non-ferrous 'metals industry of the Soviet Union found itself in a very low position at the beginning of the reconstruction period in 1922, due to the absence of modern smelters and the run-down condition of the existing ones. Up to. 1924 there was no great demand for newly smelted non-ferrous metals due to the considerable stocks' of copper, zinc, lead, tin and aluminum in the courtry and also to the undeveloped condition of Soviet industries. However, in 1925 it became necessary to obtain new stocks of non-ferrous metals and in that year 12,000 tons of zinc, 14,000 tons of lead and 2,000 tons of tin and aluminum were imported into the U. S. S. R.

Jan 1, 1929

By C. Edwin Nighman

THE following is a description of the methods used in rescuing men and extinguishing the underground fire at the Pennsylvania mine, Butte, Mont. This fire, which cost the lives of 21 men, began about 9 p.m., Feb. 14, 1916, at or near a ventilating fan on the 1,200 air-shaft station. This shaft at that time was downcast, while the main hoisting shaft was upcast. Owing to the proximity of the fire to the air shaft, the air in the latter soon became heated, and as the fan on the level was not running¬the power having been cut off shortly after the outbreak' of the fire-the aim' shaft became upcast to the 300 level. At this point a blanket of cold air from the surface caused the smoke and gases to he drawn in on that level and carried down again through the workings to the 1,200. A short time after the discovery of the fire, water was turned down the air shaft through a series of pipes around the collar of the shaft, which caused the smoke to recede, below the 300, so that within 2 hr. it was possible to search that level for the missing men. From the above it will be apparent why the air shaft was upcast instead of downcast as under normal conditions, and why men were suffocated at considerable distances from the seat of the fire. The smoke and gases that came up the main hoisting shaft did not diffuse through the workings to any extent. There are doors on all levels in the connections to the main hoisting and air shafts, but-in the confusion and running around many of these doors were left open, and this undoubtedly caused the smoke and gases to spread more rapidly than they would otherwise have done. It was necessary for most of the men on the various levels to pass close to the air shaft in going to the hoisting shaft, and when they encountered the smoke and gases in that vicinity a number turned hack and climbed down with the direction of the air currents and were then suffocated, while all those who passed through the relatively short pall of smoke to the main shaft were saved.

Jan 2, 1917

Within the last century, and largely during the latter half of it, the increase of our knowledge of the development of man, both in his search for a livelihood and for power, and in the growth of his reason and conscience, has been greater than all we had known before. The great interest in all kinds of archaeological work and the many excavations made of buried and long forgotten places has put at our disposal historical records-not available, and in many cases not known before, and a study of these and other records of human progress from paleontological and geological sources has given us a much broader view of what we call "civilization" than was possible even a short time ago. The old idea that men were created with fully developed minds, speech and reason has yielded to the view that in the upward progress of the human race the development of the mind and reason has been a comparatively recent occurrence, as we think of the half million, and probably more, years that have passed since our earliest records of man were made. The traits that come to us without effort

Jan 1, 1939

By Rodney G. Ravenscroft

Leasing is not a new phenomenon. Experts have identified its origins as early as biblical times. It is a method of finance that has grown rapidly and is now used in most countries, including those of South East Asia, South America, the Middle East and even the People's Republic of China. Internationally, the leasing world divides fairly easily into two groups and this is determined, by and large, according to whether a country has Anglo-Saxon origins or not. Most of the Anglo-Saxon countries have seen tax-oriented leasing become a sophisticated means of financing the acquisition of large and costly items of equipment and large projects. Countries such as France, Spain and Japan have a highly developed leasing industry but it is not tax-oriented. This paper will not address leasing of this kind. LEASING - THE CONCEPT Wide acceptance of leasing as an alternative for financing capital equipment has grown with the recognition by the users of equipment that it is use and not ownership that generates profits. Whilst this seems obvious, memories of repossession of assets during the Depression and attitudes towards leasing as "last resort financing" have raised strong philosophical resistance that has only recently begun to be overturned. A financial lease is a commitment by way of contract between a user of equipment (lessee) and a financial owner (lessor) under which the lessee makes a series of payments in return for use of the equipment. The lessee is acquiring economic value associated with ownership but not ownership of the equipment itself - that remains with the lessor. A lease is a method of financing the use of an asset; other methods finance the assets themselves. It is the taxation aspects that then become important. The lessee is giving up some or all of the taxation benefits of ownership such as depreciation and investment tax credits. The lessor claims these benefits, as he is entitled to do as owner, and takes them into consideration when determining the level of lease payments that are necessary to generate his required rate of return. These lease payments are, of course, lower than they would have been without those taxation benefits. The lease payments themselves are fully tax deductible. This is tax shelter leasing. The lessor is acquiring taxation deductions that are applied fully and immediately against his other taxable income so as to reduce the amount of tax he is to pay to the revenue authorities. It is this concept that makes financial leasing work. Governments provide incentives by way of tax concessions to encourage capital investment. Governments presume that prudent capital investment will offer employment opportunities, generate sales and streamline economic activity. These, in turn, will lead to the collection of government revenue. It makes no difference at all whether these incentives are claimed by a commercial or industrial owner/user or by a financial owner who makes equipment available for use by industry. Rather, the issue is to ensure that if an incentive is available, it is used so as to achieve its desired results. No greater or lesser incentive is available for leasing and leasing does not misuse the taxation aspects of equipment ownership. The critical issue is whether the full value

Jan 1, 1985

A. M. Strong, Bishop, Cal. (communication to the Secretary*) :—The paper of Mr. Eeyes gives us the most complete account of the geology of the borax-deposits in the Death Valley region that has yet been published, and is a valuable addition to the geological literature of a very interesting though little-known territory. During the past ten years I have been over much of the northern part of the country described by Mr. Eeyes and the region immediately north of it.

Jan 1, 1910

By Kingman, Robert I.

SUFFICIENT testing has been .performed with the Dutch State Mines Cyclone for thickening and desliming flotation feed at the concentrator of the National Lead Co., Tahawus, N. Y., to prove its application for this work. It is the purpose of this article to present some of the test results, operational details and advantages of cyclone thickening and classification. The metallurgy of the mill operation was described by Frank R. Milliken, assistant manager of the titanium division.

Jan 1, 1950

By AIME AIME

THE No. 9 mine of the Wheeling & Lake Erie Coal Mining Co., a subsidiary of M. A. Hanna & Co., at Fairpoint, Ohio, has normally produced about 1000 tons of coal daily for several years, but recently it was converted into an experimental mine to afford means of studying new methods and equipment under consideration for development and mining. Among other projects, the possibility of using a duck-bill, self- loading conveyor in driving entries, with a view of in- creasing the rate of progress where quick development is of importance was studied. Actual operation soon revealed that even though break-throughs are made ,every 60 ft., as required by the state mining laws, the :amount of natural Ventilation reaching the working face was not sufficient to supply the men and that in ,order to obtain a plentiful supply of pure. air and maximum efficiency and to avoid costly interruptions after shots, it was necessary to supply auxiliary ventilation by using Ventube and a Vano fan.

Jan 1, 1929