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THE 125th meeting of the Institute was held in New York, Feb. 20-23, 1922, inclusive, and was the most successful annual meeting of the Institute ever held; there was a larger registration, there were more sessions of importance, and a greater number of sessions, than in any previous year. The total registration was 1331, comprising 351 New York members, 393 visiting members and 587 guests. At the annual business meeting of the Institute, held on Tuesday, Feb. 21, with President Ludlow presiding, there was a much larger attendance than usual. The report of the tellers was read and the following officers were declared elected: Arthur S. Dwight, Director and President-District 0 J. V. W. Reynders, Director and Vice-president-District 0 A. R. Ledoux, Director and Vice-president-District 0 Charles F. Rand. Director-District 0 George D. Barron, Director-District 0 William H. Bassett, Director-District 1 Thomas B. Stearns, Director-District 8 William Kelly, Director-District 5

Jan 3, 1922

By J. T. Ryan

FIGURES for the first 11 months of 1935 indicate that the total coal production of the United States for 1935 will be approximately 416,000,000 tons, or almost identical with the production figures for 1934. Bituminous production will show a gain of about six million tons, and anthracite production a loss of about the same tonnage, compared with the previous year. This does not take into account so-called "bootleg" anthracite coal amounting to approximately 5,000,000 tons. Twenty-nine years ago, in 1906, the production of coal was almost identical with this year's production. At that time, 626,000 men were employed in producing this tonnage, which took a toll of 2138 lives from accidents. In 1935, approximately 540,000 men were required to produce the same tonnage with an estimated loss of 1155 lives. This shows definite safety advancement in the industry, but even so accidents are still costing an average of 3c. a ton more than they should.

Jan 1, 1936

By AIME AIME

LOCAL COMMITTEES. GENERAL RECEPTION COMMITTEE.-Mr. and Mrs. H. S. Chamberlain, Mr. and Mrs. J. T. Lupton, Mr. and Mrs. T. H Lasley, Mr. and Mrs. R. S. Faxon, Mr. and Mrs. H. Clay Evans, Mr. and Mrs. C. E. James, Mr. and Mrs. B. F. Thomas, Air. and Mrs. H. S. Probasco, Mr. and Mrs. W. M. Lasley, Mr. and Mrs. L. W. Llewellyn, Mr. and Airs. T. G. Montague, Mr. and Mrs. E. B. Thomasson, Mr. and Mrs. C. F. Milburn, Mr. and Mrs. C. A. Raht, Mr. and Mrs. C. C. Notting¬ham, Mr. and Airs. Z. C. Patten, Mr. and Mrs. Willard Warner, Mr. and Mrs. S. R. Read, Mr. and Mrs. Carl White, Mr. and Mrs. M. M. Allison, Air. and Mrs. C. E. Buck, Mr. and Airs. H. F. Temple, Air. and Mrs. M. M. Hedges, Mr. and Airs. X. Wheeler, Mr. and Airs. John A. Patten, Air. and Airs. N. T. Montague, Mr. and Mrs. R. H. Williams, Mr. and Mrs. T. R. Preston, Mr. and Airs. Morrow Chamberlain, Mr. and Airs. T. C. Thompson, Mr. and Airs. T. L. Montague, Mr. and Mrs. O. L. Hurlbut, Air. and Mrs. C. A. Lyerly, Mr. and Mrs. Garnett Andrews, Air. and Mrs. M. B. Ochs, Mr. and Airs. Webster James, Mr. and Mrs. D. P. Montague, Mr. and Mrs. Z. C. Patten, Jr., Mr. and Mrs. W. A. Sadd, Mr. and Mrs. J. B. Pound, Air. and Mrs. George D. Lancaster, Air. and Airs. J. F. Johnston, Mr. and Mrs. R. W. Barr, Air. acrd Mrs. W. B. Davis, Mr. and Airs. Douglas Baxter, Air. and Mrs. W. R. Crabtree, Mr. and Mrs. Lewis M. Coleman, Mr. and Mrs. Newell Sanders, Mr. and Mrs. E. Y. Chapin, Mr. and Mrs. W: B. Riddell,. Mr. and Mrs. J. B. Frazier, Mr. and Mrs. John A. Moon, Mr. and Mrs. C. D. Mitchell, Dr. and Airs. J. H. Race, Mr. and Airs. A. W. Chambliss, Mr. and Mrs. J. P. Smartt, Mr. and Mrs. J. F. Tarwater, Mr. and Mrs. L. D. Drewry, Capt. and Mrs. A. B. Putnam, Mrs. Minnie C. Ewing, Mr. G. F. Meehan, Mr. Sam S. Gerstle, Mr. P. A. Brawner, Mr. C. M. Preston, Air. George M. Guild, Mr. L. M. Mansfield, Dr. J. W. Johnson, Dr. J. AI. Hogshead. EXECUTIVE COMMITTEE.-H. S. Chamberlain, Chairman; H. S. Probasco, C. M. Preston, H. Clay Evans, J. T. Lupton, M. B. Ochs, C. C. Nottingham, Al. Al. Alli¬son, R. S. Faxon, C. E. James, C. A. Raht. EXCURSION TO CHICKAMAUGA PARK.-T. C. Thompson, Chairman; B. F. Thomas, G. F. Meehan, Morrow Chamberlain, W. J. Bass, J. K. McGoodwin. EXCURSION TO HALES BAR LOCK AND DAM.-R. H. Williams, Chairman; John A. Patten, Newell Sanders, George M. Guild, Capt. A. B. Putnam. EXCURSION TO ROCK-WOOD.-F. H. Clymer, Chairman; T. L. Brown, T. A. Wright, J. P. Tarwater, T. L. Peterman. INSTITUTE HEADQUARTERS.-The Hotel Patten. THE first session, held Thursday evening, Oct. 1, in the Banquet Hall of the Hotel Patten, was called to order by Capt. H. S. Chamberlain, Chairman of the Local Committee, who, in behalf of the city of Chattanooga, extended a hearty welcome to the members and guests of the Institute.

Nov 1, 1908

By Percy W. Bidwell

THE statisticians had defeated Germany months before she invaded Poland. With batteries of adding machines they had proved that she was suffering from serious deficiencies in critical food- stuffs and in practically all of the raw materials necessary for the conduct of modern warfare. Their calculations showed that with respect to fats, oils, wool, cotton, hides, petroleum, iron, copper and other metals, the Reich was bound to be at a great disadvantage vis-a-vis the French and British as long as the latter could keep open the lines of sea communication. The conclusion seemed obvious-"Germany can't win." The more cautious of the commentators introduced qualifications as to the length of the war and the tightness of the British and French blockade. They also made a third qualification as to the character of the struggle- whether it was to be a war of attrition or a war of movement. But since the invasion of Norway in April, there is no longer any doubt on this score. It is a war of movement-a war in which fuel, lubricants, and metals are being consumed on a scale never before seen.

Jan 1, 1940

By FRABK HERVEY PETTINGELL

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

Jan 1, 1925

By C. F., Christopher

The purpose of any steel-making process is to convert the two raw materials iron and scrap into steel. The chemical analysis of the steel is set within certain limits which involve the physical proper- ties desired by the consumer. In addition to tensile properties a large number of other properties are at the present time desired, such as impact resistance, grain size regulation, specific degrees of hardenability, resistance to creep at high temperatures, resistance to expansion on heat treatment, the ability of the product to undergo extreme amounts of cold deformation without failure, and many other properties which are not directly related to the specified chemical analysis. Variations in many of the properties of plain-carbon steels are due to elements and compounds not included in the ordinary "five element"§ composition. Such variations result primarily from variations in oxidation of the metal in the furnace and from the deoxidation method employed. The steel-making problem therefore resolves itself into two distinct sections: (I) the elimination of certain elements from the charge (the iron and scrap entering the furnace) and the addition of materials to meet the chemical specifications for the heat; (2) the manipulation of the slag and metal and the process of deoxidation to give certain desired properties in the steel entirely apart from the chemical analysis specified. Each of 'these two ends must be attained

Jan 1, 1957

By LUDWIG VOGELSTEIN

WE are indebted to Mr. Barbour for his valuable contribution to the literature on copper statistics; it is to my knowledge the only intelligent attempt to throw light on a much misunderstood subject. If I should appear to criticize some of his findings and arguments, I do not want to leave the impression that I do not appreciate the article; I think Mr. Barbour has been painstaking, and even where one might not agree with his conclusions, he has opened our eyes and stimulated us in our search for the truth.' It might be well to define the term "secondary copper" and to make a few remarks about the origin and the reasons for the variation of the supply. Mr. Barbour has touched on these points, but not sufficiently to make them clear to those not in the business.

Jan 1, 1931

By H. G. HYMER

B ECAUSE of its remote geographical position and inaccessibility, little is generally known of the mining and prospecting in Northern Rhodesia. In this rather new and promising region, the development of mines presents many difficulties. Although many mineral discoveries have been made, progress in .prospecting the huge mining concessions has been handicapped by the lack of roads, communication, transportation, native population and incomplete knowledge of geology.

Jan 1, 1929

By A. C. Fieldner, W. A. Selvig

For purposes of coal classification it is desirable to know the composition and calorific value of the pure coal substance; that is, of the coal free from its ash-forming minerals. Two methods suggest themselves: (1) To free the coal from most of the ash-forming material previous to the analysis; and (2) to analyze the coal as received and calculate the analysis, with certain more or less arbitrary corrections, to the pure-coal basis. Calculation methods are obviously more apt to give correct results with low-ash than high-ash coals. With coals of unusually high ash it would appear preferable to remove, previous to the analysis, as much of the inorganic matter as possible, by float-and-sink or acid-treating methods. Effect of Ignition on Inorganic Constituents of Coal The need of corrections in calculating analysis to the pure-coal basis is due to the fact that the ash, as determined by ignition, is not the same, in either weight or composition, as the inorganic mineral matter in the coal. On ignition a number of changes occur in the coal such as loss of water of hydration of the shaly material, conversion of pyrite (FeS2) to ferric oxide (Fe203) with evolution of the sulfur as sulfur dioxide or possible fixation of more or less of the sulfur in the ash as calcium sulfate (CaSO4), and decomposition of calcite (CaC03) to calcium oxide (CaO). The amount of sulfur from pyrite which remains in the ash as calcium sulfate depends on the amount of calcite and pyrite in the coal. Certain coals high in both calcite and pyrite show relatively large amounts of sulfate sulfur in the coal ash. The determination of total carbon and hydrogen in coal includes, besides the organic carbon and hydrogen, the carbon of inorganic carbonates such as calcite, and the hydrogen of the water of composition of some of the ash-forming minerals. For detailed discussion of corrections proposed for calculations of coal analyses to the " pure "

Jan 1, 1930

By Paul. D. Merica

I LIKE to look upon the award this year also as a recognition of the importance of metallic materials of construction to the engineer and of the active progress which I believe is continually being made in almost all branches of that field today. It has been said that metals are the material backbone of industry and technology. Well in that case, I suppose we metallurgists are industry's bonesetters. And it is possibly not inappropriate that we should occasionally give some atten¬tion to those bony structures of our industrial activities upon which engineers in other fields hang their manifold and striking creations. What is going on in the field of metals development? Well, in the first

Jan 1, 1938

By John A. Mathews

It is a great honor to be asked by the Board of Directors of this Institute to deliver the Henry Marion Howe lecture. The invitation carries with it a great responsibility, which I accept with considerable hesitation and with a feeling of unworthiness to perform the duties expected of me in this hour devoted to the memory of the life, character, and work of the late Professor Howe. Many of you recall the scholarly address delivered here a year ago by Prof. Albert Sauveur, and the beautiful tribute he paid to his friend and colleague of many years in the great work of changing the art of iron making into the science of iron. My association with Professor Howe was of brief duration—only one year—and the relation was that of pupil to teacher. My feeling toward him in later years was always that of a humble disciple at the feet of a master. He attained his third academic degree in the year that I was born. I recall the pride I felt when, after entering the steel industry, I received from him, from time to time, letters asking for information or, perchance, asking my opinion, and he was always most punctilious in acknowledging the source of such bits of information in his writings. It was also my good fortune to sit at the feet of another great teacher— Sir William Roberts-Austen, at the Royal School of Mines. I mention him because his name was used by Osmond in coining the word "aus-tenite," which is the subject of this address, and Osmond's suggestion was heartily approved by Howe. These three international metallurgists were the best of friends and delighted to honor the achievements of one another. There are other reasons for mentioning Roberts-Austen at this time. It was an introduction from Howe that opened to me the door of his laboratory as well as of his heart. It was while at Roberts-Austen's laboratory that I worked side by side with William Campbell

Jan 1, 1925

By Charles Will Wright

The present struggle for economic and industrial supremacy by the Communist world is against the United States, its main target, and the other Free World nations. The basis of industrial power is minerals, so the Communist nations are building up mineral production within their borders, often regardless of costs, and are acquiring quantities of mineral products from Free World countries for future use. They are contracting for additional supplies and advancing funds for the development of these quantities. A number of the less developed mineral producing countries of the Free World are being infiltrated by Communists and Communistic influence. This situation is well known, but as yet little has been done to oppose these activities or to awaken the public to their seriousness. The Communist countries are still far behind the Free World Nations in production of many essential minerals. But, shortages are being made up from Free World nations in exchange for petroleum, manganese ore, chromite and other products. Restrictions on shipments of strategic materials to Communist countries have not been maintained.

Jan 1, 1964

By HOWARD RICHARDS

THE dollar was, selected as the unit of currency by the Congress of the United States of America on Apr. 2, 1792. This "Dollar" currency is so much more convenient than the older British currency that the Canadian Government, among others, has adopted it with corresponding success. Just as the dollar is the unit of United States currency, so the meter is the international unit for measuring length. The various weights and measures used in - the United States have since Apr. 5,. 1893, been based on the metric standards. These fundamental standards are kept by the International Bureau of Weights and Measures, which is supported by the United States, Great Britain and the, other leading countries. of the world. Copies are held-in Washington and other capitals. (2) As the dollar is divided into 100 cents, so the meter, which is 10 per cent. longer than the yard, is divided into 100 centimeters or cm. And as the cent is divided into 10 mills, so the centimeter is divided into 10 millimeters or mm. In measuring clothing and other articles which do not require great accuracy, the centimeter is most con¬venient, so that such work is done in terms of centi¬meters.. Instead of speaking of a 15;2-in. collar, a 40-centimeter or 40-cm. collar is referred to. Where accuracy is needed, as in mechanical drawing, machineshop work, etc., millimeters are employed. Thus 8 mm., is the convenient equivalent for 5/16 inch.

Jan 1, 1921

By Zay Jeffries

From the title of this chapter the reader could expect an attempt to outline the anticipated shape of things to come, mineralwise. We have no crystal ball and if we possessed one we could claim no expertness in its use. In the first place no one can tell the future status of man. No one has any way of knowing to what extent peace will prevail, nor to what extent changes may occur in national sovereignties or forms of government or in international relationships. So future man is an uncertainty. Nor can we predict new developments that may result in significant changes in man's status or in the mineral industry or both. If, for example, this chapter had been written in the middle 1930's, nearly everything that has happened since in the field of atomic energy would have been missed. Yet what a vast change this has made in the status of man! Also the changes in the mineral industry have been important. A writer would have been bold indeed had he prophesied that uranium would play such an important role. But we need not confine our foggy vision to the atomic energy field. The steep rise in the use of aluminum, titanium, and germanium reflects the unpredictable in what may be thought of as the more normal pursuits. This should not discourage one from using the past and currently observable trends as bases for limited predictions. To do this, however, it is desirable to make certain assumptions about man's status without even a pretense that these assumptions have a high probability of fulfillment: 1. Only minor changes will occur in the geographical boundaries of the nations of the world. 2. World War III will not take place in the near future. 3. As a consequence of (2), man will not destroy himself by wanton use of atomic weapons. 4. Disarmament will take place, if at all, gradually rather than all at one time. Under the above assumptions the world will enjoy a period of relative peace even though the status may be one of an armed truce. The assump-

Jan 1, 1959

By William P. Blake

The ancient city of Guanajuato, the capital of the State of that name, has been built up and sustained chiefly by the milling industry based upon the veins of the Veta Madre and La Luz. It is distant about twelve hours, by rail, from the City of Mexico. Its elevation above the sea is about 6300 ft., and it has a salubrious climate. The population, at the date of my visit in 1891, was estimated at from 80,000 to 100,000 persons. The place is justly celebrated for the antiquity, depth and extent of the mines, the magnitude of the deep shafts, and the enormous total yield of the district in silver and gold, which is comparable with that of the Comstock Lode in the United States. Several important public institutions are located at this center. The State office for the records of claims and of the statistics of mining and production is known as the Deputacion de Mineria. The Mining College, with its fine collection of ores and minerals from the mines of the region, is highly interesting to mineralogists. A mint for the coinage of silver, but not of gold, coins from four to twelve millions of' silver dollars annually. The silver received at the mint is melted in an open-hearth furnace, and is ladled out and cast into long and thin bars, which are rolled down to the proper thickness for the blanks. The bars contain some gold which is not parted. There is an export of dore bars to Germany, amounting in value to from $1,000,000 to $1,500,000 annually. There were, in 1891, upwards of forty reduction-works in and about the city where the silver ores were treated, chiefly by the ancient patio method. In these works were 65 Chilean mills, 301 arrastres of large size, and 936 of smaller dimensions. There were 36 steam engines, but mule-power was generally used at the ar-

Jan 1, 1902

By J. Gurland

A method of measuring the degree of contact between grains of 1 phase in multiphase alloys is derived. It is shown that the number and the areas of contacts between grains can be determined by metallographic analysis. Relations between the area of contact, the dihedral angle, and the mean free path of spherical grains are developed. It is often desirable to interpret the mechanical behavior of alloys in terms of structural features observed under the microscope. A quantitative description of microstructures of multi-phase alloys requires consideration of geometrical and topological factors such as the amount, size, and shape of grains and the continuity of the constituent phases. The number and dimensions of grains may be metallographically determined by applying the methods described by Smith and Guttman1 and by Fullman2 in their papers on the measurement of particle size and internal boundaries in opaque bodies. The present work intends to show that the same methods can be used to evaluate some of the parameters of phase continuity; namely, contiguity, number of contacts, and areas of contact of grains of 1 phase. Application of these concepts may be found in such problems as the calculation of electrical conductivity of 2-phase alloys, or the evaluation of the length of fracture path through grains of a brittle phase more or less dispersed in a matrix. I. DEFINITION The following definitions and derivations are based on 2-phase alloys, of which the units of the microstructure are grains. Contiguity is defined as the average fraction of surface area shared by 1 grain of a phase with all neighboring grains of the same phase. In a 2-phase alloy of constituents A and B, the contiguity of phase B is given by: where Cb is the contiguity of phase B aBß is the average area of contact between a grain of phase B and adjacent grains of phase B, aAB is the average area of contact between a grain of phase B and adjacent grains of phase A. The contiguity is a measure of the average degree of contact between grains of phase B in the 2-phase mixture. The ratio varies from 0 to 1 as the distribution of phase B changes from a completely dispersed to a fully agglomerated structure. Smith and Guttman1 have shown that the relative areas of 2 kinds of interfaces in a volume are directly proportional to the number of interfaces of each type intersected by a random line. The lines can be drawn on metallographically prepared surfaces as long as these are random sections through the sample. The contiguity ratio of phase B then becomes: Cb = 2NBB/NAB + 2N BB [2] where: NBB is the number of interfaces between grains of phase B intersected per unit length of random line. Nab is the number of interfaces between grains of phase B and grains of phase A intersected per unit length of random line. The factor 2 arises in Eq. [2] because each interface B-B is associated with 2 grains of B-phase, whereas the interface A-B involves only 1 grain of B-phase. The calculations of contiguity do not require any assumption as to volume fraction, particle size, or particle shape. Fullman2 gives an expression for the determination of the mean free path between particles. The mean free path PB between grains of phase A, i.e., through grains or agglomerates of phase B, may be found from the relationship: PB =2fB/NAB [3] where fB is the volume fraction of phase B. The calculation of the mean free path is independent of grain shape and grain size distribution. The calculation of the number of contacts and of contact area requires assumptions of grain shape, grain size, and contact shape. In the case of uni-

Jan 1, 1959

By FREDERICK MCAKCCOY

THE production of tin from Mexico has never reached the point of being considered a national industry, but the distribution of tin ores is so widespread that there are possibilities that one day it may become of importance. Of the twenty-seven states of the Republic, tin claims have been taken up in sixteen. In all there had been taken up to the end of 1926, two hundred and twenty-five claims, of a total area of about 7400 acres. The first historical mention of tin in the Americas is found in a letter of Cortez to the Emperor, Charles the Fifth, of Spain, which is as follows: Speaking of his manufacture of some small cannon, he says: "For these reasons I took considerable pains to get copper from some provinces of this country, and bought it at a high price in order to get it quicker.

Jan 1, 1929

O. S. GARRETSON, Buffalo, N. Y.: If I may judge from the half-tone illustration engraved from a photograph of this medal and accompanying Dr. Prazer's paper, I do not think the cast ing is exceptionally fine. I have often made castings of simi lar character which I think were equally good. For instance, I have taken a coin, moulded it directly in fine sand, and cast from it in Scotch (or the equally good, if not better, Ameri can Scotch ") foundry-iron a copy quite as sharp and smooth as the original. The secret is in using very fine sifted sand. In fact, I have used for this purpose the dust which had accumulated on the beams overhead in my foundry, riddling it with a very fine sieve before using it. ['NOTE BY THE SECRETARY.—After the session at which these remarks were made by him, Mr. Garretson cast at his Buffalo foundry, in the presence of a number of members of the Institute, copies of the bronze pin furnished to visiting members by the Local Committee of the Buffalo meeting. The accom panying illustration, Fig. I, has been reproduced from a photograph of such a casting, made in green sand, under the conditions of ordinary foundry-practice, and not subsequently polished in any .way. I can also certify that the photo graphic negative was not touched, to improve its clearness of definition, before the production of the " half-tone" plate from which Fig. 1 has been printed. As, in the case of the Kytchtym medal, it was the thin, ribbon-like sprue, rather than the low-relief features of the medal itself, which indicated the fluidity of the metal and the sharpness of the casting, so in this work of Mr. Garretson it is the long and slender pin which offers the strongest evidence of these qualities. It is scarcely neccssary to point out that the filling in the mould of a long and nar row opening, such as this pin presents, is the severest test that could be imposed upon the casting, and that the sharpness of the point of the pin in the casting is striking evidence of the success with which this test has been met. The Pittsburgh Testing Laboratory .has made for the American Manufacturer measurements of this casting and an analysis of the sprue. The thickness of the main casting is from 0.049 to 0.068 inch. That of the tag bearing the stamped number is 0.024 inch. The analysis, which represents the iron ordinarily employed by Mr. Garretson for thin castings, is as follows :

Jan 1, 1899

By Nelson P. Hulst

COMMITTEES. DULUTH.-Nelson P. Hulst, Chairman; J. B. Adams, W. C. Agnew, M. H. Alworth, C. W. Andrews, R. Angst, William R. Appleby, C. E. Bailey, G. G. Barnum, E. F. Bradt, Mylie Bunnell, George L. Cheesebrough, Peter Christen¬sen, F. A. Cokefair, T. F. Cole, C. A. Congdon, N. Cowling, George H. Crosby, M. D. Cullum, C. d'Autremont, Jr., H. L. Dresser, C. T. Fairbairn. Walter Fitch, F. L. Gilbert, J. T. Hale, G. G. Hartley, E. B. Hawkins, M. S. Hawkins, J. H. Hearding, Louis Hill, L. J. Hopkins, F. E. House, J. C. Hunter, 0. D. Kinney, J. W. Kreitter, E. J. Longyear, Alexander McDougal, W. A. McGonagle, A. M. Marshall, W. N. Merriam, T. D. Merrill, John Millan, P. Mitchell, Clarence Moore, Hon. Page Morris, C. H. Munger, Henry Nolte, W. J. Olcott, A. L. Ordean, Thomas Owens, F. A. Patrick, H. M. Peyton; D. M. Philbin, Capt. Charles Potter (U. S. A.), L. W. Powell, Harry Roberts, Louis Rouchleau, George A. St. Clair, J. U. Sebenius, Joseph Sellwood, Amos Shepherd, W. B. Silvey, George Spencer, George C. Stone, H. B. Sturtevant, George D. Swift, Kirby Thomas, C. D. Thompson, A. D. Thomson, G. A. Tomlinson, Charles Trezona, R. R. Trezona, Maj. J. H. Upham, Charles Van Barneveld, W. W. Walker, J. L. Washburn, A. C. Weirs, H. J. Wessinger, A. B. Wolvin, Dwight E. Woodbridge. HOUGHTON.-W. E. Parnall, Chairman; W. D. Calverley, Secretary; W. B. Anderson, L. S. Austin, Jacob Baer, William Bath, F. J. Bawden., Simon Beahan, John Been, C. H. Benedict, Walter Bloomfield, S. H. Brady, Samuel Brady, Henry Brett, A. L. Burgan, F. I. Cairns, W. H. Cake, Arthur L. Carnahan, William Carpenter, Phillip Carroll, John J. Case, T. L. Chadbourne, W. A. Childs, B. F. Chynoweth, Captain James Chynoweth, H. P. Clausen, F. G. Coggin, H. D. Conant, J. B. Cooper, J. R. Cooper, John Cuddihy, Thomas Cummings, Robert Davidson, J. B. Dee, J. R. Dee, T. S. Dee, Theodore Dengler, M. M. Dennis, Captain Thomas Dennis,. F. W. Denton, A. D. Edwards, R. M. Edwards, C. S. Fales, Daniel Fisher, Henry Fisher, James Fisher, A. L. Floeter, Frank H. Getchell, M. C. Getchell, W. M. Gibson, W. M. Gilliland, James G. Glanville, George Goodale, H. S. Goodell, A. R. Gray, Edward Grierson, Homer Guck, H. D. Haddock, Captain Josiah Hall, John L. Harris, Captain S. B. Har¬ris, Enos Harrold, F. William Hartmann, George L. Heath, C. M. Hoar, Thomas Hoatson, 0. P. Hood, Captain Thomas Hooper, Captain Joshua D. Husking, Dr. L. L. Hubbard, Arno Jaelinig, E. D. Johnson, G. A. Koenig, Edward Koepel, C. H. Krause, R. H. Leach, A. W. Leonard, James MacNaughton, Edward McCormick, Thomas McDonald, R. T. McKeever, F. W. McNair, James McRae, John Mackey, John C. Mann, Major G. A. Marr, Captain Thomas Maslin, Harry Mercer, James Merton, Michael Messner, William F. Miller, Captain J. Milligan, Dr. J. W. Moore, Charles H. Moss, H. F. Nickerson, Charles L. Noetzel, P. H. Paine, John Penrose, Captain John Pentecost, Graham Pope, R. C. Pryor, James Ramsay, J. T. Reeder, Allen F. Rees, J. H. Rice, W. G. Rice, James

Jan 1, 1905

By W. F. Boericke

WORLD production of silver in 1929 totaled 256 million ounces. In 1928 production was 258 million ounces, and in 1927, 254 million ounces. With an actual decrease in the amount of silver produced last year, as compared with 1928, and an increase over 1927 of less than one per cent, obviously there has been no overproduction of the metal in the popular sense. But the price of silver tells a different story. For 1927, the average quotation was 56.37 cents; it was 58.17 in 1928, and 53.0 in 1929. During the last year it reached a high point of 57 cents in January, and fell steadily, without interruption to the downward trend, to a low of 47 cents in December. Since then it has dropped to an all time low of 43 cents on February 6.

Jan 1, 1930