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TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen:-To a Board of Directors keeping in as close touch with all of the affairs under their care as do the Directors of the A. I. M. E., through their monthly meetings, a report of the year's progress is almost superfluous. ' To the members who read the monthly reports of the Board Meetings and of the various activities of the Institute as published each month, a yearly report cannot carry much fresh information; yet for both it may be well, as is the custom, to glance over the field of our activities during the past year, and to make an estimate for the year to come. The beginning of 1924 was not propitious for the members of the mining profession, though tonnage production for 1923 had been high and the gross value higher than for several years. The margin of profit had been narrow, prospecting and development were limited, and many of our members were unemployed or were working in other industries. Toward the end of the year, higher metal prices were in sight. Old-time optimism began to grow, and it now brightens the outlook for 1925. An excellent barometer of the prosperity of the industry, and that of the Institute, for they go hand in hand, is the work of our Employment Bureau. During the past few months, the percentage of our members for whom openings have been found has been increasing to a marked extent, and many members who had fallen in arrears are placing themselves in good standing. The number of new members joining has remained about as it was in 1922 and 1923. The Directors have reason to congratulate themselves on the interest maintained during a dull period, for it is not humanly possible to take a keen interest in the technology of an industry when our hands and minds are not actively engaged in it Now, with a much brighter outlook, we can look forward to a year of increasing prosperity for the industry and for the Institute.

Jan 1, 1925

By D. W. Loughridge

INTRODUCTION Raising capital in the 1990s is a timely subject. However, many of us thought why should raising capital in the 1990s prove to be unlike it was in the 19805, the 1970s, the 1%0s, or earlier? There are a lot of creative people in banking and in corporate treasury departments. New tools and techniques are continuing to emerge, many of which are discussed in other papers in this book. While we have new financing tools at our disposal, the underlying issue has not changed. Projects and investments must be judged on their own merits. If they cannot be justified by conventional financial analysis, they should not be built. If they can be justified, it is likely that the financing will be available. The challenges faced in raising capital in this decade will persist to the next. The issues of the 1980s -- currency fluctuation, disruptive merger and acquisition activity, commodity price volatility, political risk, and debt crisis -- will all persist in an increasingly international business environment. I will focus on the financing we have just completed for the Escondida Copper Project in Chile. The Escondida financing is structured along the classic project financing model developed in the late 1970s, but it deals with issues of the 1980s and the 1990s. The financing was intriguing, not just because of the technical issues involved, but also the challenge of reaching an agreement in a large and diverse group. Escondida had the one essential feature that made its financing possible. It was commercially very attractive. It would produce at low cost a commodity (copper concentrates) that direct consumers felt would be in tight supply. The project had the direct support not only of its sponsors, but also its customers, and, very importantly, its host government. The non- recourse financing of Escondida would not have been possible without the support of these parties, and without the robust economics that made this effort worthwhile. The issue was more complicated. Operations in all parts of the world entail some political exposure. This project is in Chile, where there was a constitutional requirement that a plebescite be held when the project would be in its early stages. This plebescite would determine the fate of a 15 year old military dictatorship. The project is copper, a commodity generally deemed to be in surplus. Copper has a history of price volatility (whose price has varied from $.58 to $1.53 per pound over the past two years). It is politically sensitive, not only in Chile, but in the United States, Canada and other developed countries. The project is international, with all the problems of dealing with a variety of currencies, a variety of cultures, and a variety of laws and commercial practices. The project is also large and capital intensive, with a total cost of U.S. $1.1 billion. ESCONDIDA PROJECT Escondida, the largest known copper ore body in the world, was discovered in March of 1981, by Utah International in a joint venture with Getty Oil Company. In 1984, both Utah and Getty were involved in ownership changes, Utah being acquired by BHP. A later restructuring of the ownership of Escondida resulted in BHP, as manager, carrying a 60% interest, Rio Tinto-Zinc Corporation (RTZ) 30%, and a consortium of Japanese companies led by Mitsubishi Corporation with 10%. The Japanese consortium is incorporated as JECO (Japan Escondida Corporation). This ownership structure, which spread ownership around the world, was the first tangible step toward managing both the commercial and political risk associated with the project.

Jan 1, 1990

By L. P. Teas

The year 1931 has been one of unusual interest in Gulf Coast petroleum development, not so much because of the number of new prospects discovered, for apparently none of any present distinction have been found, but because of the discovery of so many new oil fields and the proving of so many old prospects. During the year 10 new oil fields have been found on the Coast; five in Louisiana and five in Texas. Two suspected salt domes were proven by the drill. Production dropped from a daily average of 192,000 to 162,670 bbl., or an average of 58 bbl. for each producing well, and active operations from 189 to 119. During 1931 the Coast produced approximately 48,600,000 bbl., or 44 per cent less than in 1930, when 86,500,000 bbl. were produced. The daily return at the beginning of the year was $192,000 and at the end only $126,780, the price having dropped from $1 for A grade and a range of $0.75 to $1.22 for B grade to a price range of 70 to 86c, or an average of 78c $ per barrel at the end of 1931. The average Coastal well produced 17,400 bbl. of oil during 1931. During the year development in the old fields has continued active at Barber's Hill only, although some work is in progress at Humble, Pierce Junction, Refugio and Pettus. Clear Lake is active but the large ownerships will prevent the "boom" type of field. Production is being held fairly steady at Barber's Hill and Pierce Junction, but has declined rapidly during the year at Refugio, Humble, and to a lesser degree at Pettus. The 6000-ft. production at Barber's Hill has shown a decided drop during the year and has not measured up to expectations.

Jan 1, 1932

By Bruce A. Kennedy

Lufthansa flight 497 roared down the runway and climbed rapidly through the early morning mist hanging over Pudahuel airport and the city of Santiago, Chile, into the brilliant sunlight above the clouds. As the plane banked onto course for Lima, Peru, we got what was possibly our last look at the beautiful snowclad mountains that ring Santiago. To the northeast was the massive hump of Aconcagua, the highest mountain in the Southern Hemisphere, wreathed in clouds and virtually looming over Rio Blanco, the new mine put into production by Cerro de Pasco just one short year before. Almost a thousand miles to the north lay the massive open pits of Chuquicamata and Exotica, and a little closer to Santiago the El Salvador mine. Behind to the southeast, clinging to the steep slopes of the Andes, was the large and awe-inspiring El Teniente mine at Braden. These mines, once the bastions of such companies as Anaconda and Kennecott, had a new owner-the Government of Chile. On the plane were a number of people who had spent a large part of their lives in Chile operating these mines and plants, and who now were suddenly faced with the necessity of starting new lives somewhere else. To them, this was their last look at the country which not too long ago was their home, a bittersweet moment of reminiscence and a time for questioning what the future held.

Jan 1, 1971

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members) Members and guests who called at Institute headquarters during the period Jan. 10, 1917 to Feb. 10, 1917: Victor C. Alderson, Denver, Colo. G. Komar, New York, N. Y. Arthur W. Allen, New York, N. Y . H. H. Lauer, Allentown, Pa. George S. Blair, Pittsburgh, Pa. Frederick MacCoy, Antofagasta, Chile. F. J. Brulé, Toronto, Canada. E. P. Mathewson, Toronto, Canada. W. M. Corse, Buffalo, N. Y. Douglas Muir, San Antonio, Tex. John J Croston, Cullasaja, N.' C. F. W. Osborn, Ajo, Ariz. W. A. Deane, Waxhaw, N. C. Mortimer A. Sears, Washington, D. C. P. H. Dudley, New York N. Y. W. H. Selden, Jr., Iron River, Mich. J. D. Gilchrist, Denver, Colo. W. H. Staver, Yonkers, N. Y. L. Hoffman, Pottersville, N. J. Ralph H. Sweetser, Easton, Pa. Guy R. Johnson, Florence, Wis. Benjamin F. Tibby, Salt Lake City, Utah. W. McA. Johnson, Hartford, Conn. Carl J. Trauerman, Butte, Mont. John S. Kennedy, Philadelphia, Pa. H. C. Wilmot, Arequipa, Peru. D. C. Bard has become a member of the geological department of the Chicago, Milwaukee & St. Paul R. R., with headquarters at Seattle. Jay A. Carpenter has resigned his position as metallurgist for the West End Consolidated at Tonopah and has been appointed superintendent of flip. Nevada. Packard mines it Rochester.

Jan 3, 1917

THE meeting was opened, Tuesday evening, May 25th, by an address from the President, R. W. Raymond. The following persons having been duly proposed for members and associates of the Institute, were recommended by the Council for election. They were unanimously elected MEMBERS. Florian Alexander, - Newark, N. J. Charles A. Ashburner, - Philadelphia, Pa. Phineas Barnes, - Pittsburgh, Pa. J. Y. Bergen, - Chicago, 111. Leopold C. Bierwirth, - Dover, N. J. Charles E. Billin, - Philadelphia, Pa. Jerome L. Boyer, - Temple, Berks County, Pa. William S. Cherry, - Streator, Ill. Thomas Couch, - Salt Lake City, Utah. W. S. De Camp, - Boonton, N. J. Thomas Donaldson, - Boise City, Idaho. H. Firmstone, - Longdale, Va. Franz Fohr, - New York City. Richard George, - Dover, N. J. John M. Hartman, - Philadelphia, Pa. C. W. Kempton, - Newburyport, Mass. James B. Lewis, - Dover, N. J. James F. Lewis, - Amenia, Dutchess County, N. Y. Arthur H. Meyer, - St. Louis, Mo. Edward H. Morrison, - Boonton, N. J. Charles J. Norwood, - Lexington, Ky. John R. Peters, - Dover, N. J. Charles I. Rader, - Vinton Furnace, Ohio. W. M. Rees, - Stockton, Luzerne County, Pa. George Richards, - Dover, N. J. Alexander H. Sherrerd, - Scranton, Pa. W. S. Sweeny, - Easton, Pa. W. J. Taylor, - Chester, N. J. Walter Tefft, - Mineville, Essex County, N. Y. J. Alexander Tyler, - New York City. J. D. Weeks, - Pittsburgh, Pa. William Wheatley, Jr., - New York City. Moses D. Wheeler, - Virginia, Nevada. Henry Woods, - Streator, III.

Jan 1, 1876

By S. G. Lasky

W E seem to have assumed the careless habit in recent years of treating mining geology as synonymous with exploration geology, and exploration synonymous with exploration for new deposits-to be forgetting that mining geology includes also the geologic control or guidance of day-by-day mining operation. In the publicized romantic spotlight of the search for new deposits, we forget the man with the dirty over-alls, grubbing away at the daily tasks of finding new shoots and of helping to keep production up and cost down. During 1949, as in previous years, the resident geologist continued his quiet efficient functioning while the exploration geologist continued to stay in the spotlight-although this time he shared it with what may be called the resource-appraisal geologist. Many broad problems of national import such as tax modification, the operations of the Economic Cooperation Administration, and certain international relations have come up against an unexpected factor lurking in the background, namely, appraisal of world and domestic reserves and latent resources. T. M. Broderick opened the year with his address as retiring president of the Society of Economic Geologists, wherein he analyzed the problems of exploration geology listing among them "the shortcomings of the geologists themselves, of the educators, the mining companies, our Published by permission of the Director, U. S. Geological Survey. technical publications, the Federal Survey and Bureau of Mines, and the property owners."

Jan 1, 1950

Following closely Marcona Corp.'s announcement of its new Marconaflo process for transporting mineral slurries by ship (see pp. 96-97, Sept. 1969 [ ]), Midland-Ross Corp. (M-R) now heralds its metallized iron pellet process which supplements Oregon Steel Mills1 (Oregon Steel) new Portland, Ore., plant. Harry J. Bolwell, president of M-R describes the company's M-R Pellet as "the most exciting advance in steelmaking in a decade, one which will profoundly affect the industry." In fact, other knowledgeable industry spokesmen believe that with these developments the mini-steel plant era is now here and that this technical development along with the Marconaflo process will revolutionize iron ore shipments and steelmaking. The M-R president predicts that electric furnaces can account for 20% of the annual U.S. steel production by 1975, compared with 14% at the present time because of these developments.

Jan 12, 1969

By Berlen Moneymaker

THE development, within recent years, of core drills capable of drilling holes up to 72 in., or even more, in diameter, has made possible an entirely new and valuable method of geologic exploration, Although little used until recently as an exploratory tool except in the United States, by the Tennessee Valley Authority and the Corps of Engineers of the U. S. Army, for the exploration of damsites, the large-diameter core drill may be used to good advantage in other types of geologic exploration. Its princi-pal utility is that of supplementing, rather than replacing, other means of exploration. Although core is frequently recovered intact, the greatest advantage of large-diameter drilling is that the holes produced are large enough to be entered by the geologist and engineer, and thus afford an excellent means of examining undisturbed rock. The walls of the holes are smoothly cut, and in some rocks nearly or quite polished, so that the most minute details of structure and stratigraphy are clearly disclosed. Such features as faults, joints, bedding planes, weathered "seams," and beds or layers of soft materials, which are not always amenable to disclosure by cores recovered from small-diameter holes, are conspicuously displayed in the walls of large holes. Frequent reference to the drilling of large-diameter holes is made in engineering literature, but comparatively little emphasis has been placed on their value in geologic investigation. It is, therefore, intended that the present paper acquaint the geologist, as well as the engineer, with the large-diameter core drill and the technique involved in its use, and also with its advantages, disadvantages and limitations as an implement of geologic exploration.

Jan 1, 1938

By T. A. Klinefelter, R. G. O’Meara, Glenn C. Truesdell, Richard W. Smith

THE investigation of domestic tales was undertaken by the Bureau of Mines, Department of the Interior, in cooperation with the University of Alabama, at the request of the U. S. Army, on Dec. I, 1941: "Considerable concern has been expressed by the Supply Arms and Service over maintaining continued availability of supplies of the necessary raw materials. These ceramic products are used by the Signal Corps in all army radio equipment, and to a greater degree in the new ultra-high-frequency equipment. The Air Corps has become a user of large amounts of radio-grade ceramics for aircraft spark-plug covers required for high-altitude operations. In addition, the use of this material is essential to the proper functioning of the radio air-navigation aids of the Civil Aeronautics Board." HISTORY The use of steatite and talc in ceramic bodies goes back a great many years. If pure, tales shrink little under heat-treatment and are very resistant to heat shock. The massive form, commonly called "steatite" by the trade, cuts and works easily, and this was naturally the first method used in obtaining articles of talc. When gas was in general use for illuminating purposes, a large business was carried on in the manufacture of tips for gas burners.1 With the development of uses for electricity, low-tension insulators were made in a similar manner; and, in fact, the forming of shapes from massive talc continues. However, as the business increased, cuttings and waste became more and more of a problem. In the twenties, one of the larger producing firms had a cooperative agreement with the Bureau of Mines at its Columbus station to work out a body using the finely powdered material. Somewhat earlier, manufacturers of spark plugs used the finely ground talc as part of the body and to some extent in wall-tile bodies. Somewhat later it came into use for kiln furniture and similar products and still more recently it has been used in some dinnerwares. With the development of the radio and the high-frequency fields generated, it was found that a dense steatite porcelain was far better than even high-tension electrical porcelain, which is a clay-flint-feldspathic type of body. Until the war increased the demand, the several pioneer steatite-porcelain manufacturers were able to furnish adequate supplies. When war began in Europe and Asia, three important foreign sources of raw material were cut off; i.e., the French, Italian, and Manchurian tales. Domestic producers of high-grade porcelain are few, and the trade

Jan 1, 1943

By P. J. Carroll, H. Colijn

Feeders must be considered an integral part of the over-all bin and feeder system. Improper design of either one of these parts will affect the performance of the whole system. Feeder load, material properties, feed rate, physical layout, and environment as well as first cost determine the selection of feeder type. This paper provides a new method of calculating feeder loads with some experimental data as verification. General design criteria for belt and apron feeder, rotary table and plow feeders are discussed and a special section is devoted to vibratory feeders. Feeders are used to provide a means of control for the withdrawal of bulk materials from storage units such as bins, bunkers, silos and hoppers. This control function can only be performed properly as long as the bulk materials flow by gravity to the feeder in a uniform and uninterrupted fashion. During the past few years various papers have been written and presented on feeders and their application.1-9 This paper will be confined to some specific bin-feeder design criteria such as feeder load and power requirements. Special attention is given to the basic design criteria for vibratory feeders. HOPPER AND BIN DESIGN Feeders must be considered an integral part of the over-all bin and feeder system. Improper design of either one of these parts will affect the performance of the whole system. A lot of effort has been devoted in the past decade to the development of functional design criteria for hoppers and bins.1,10 The integrated concept of bin and feeder design requires quantitative analysis of the bulk material characteristics before the design and the selection of components can be attempted. The design of a feeder system must begin with the proper dimensioning of the hopper outlet to prevent arching or ratholing. The hopper opening should be large enough to allow passage of the bulk solid at the required maximum discharge rate." A feeder can only throttle the flow. FEEDER LOAD DETERMINATION Over the past ten years, there have been various attempts to determine the exact load or pressure on feeders mounted directly under hopper openings. Many designers, however, still consider this pressure equal to the hydrostatic head of material above the opening, and because such pressure would be very

Jan 1, 1969

By W. J. Romanow

RECENT papers by Williams, Sherwood, and Boothby,1 Seybolt et al.2 Heikes; and Roberts4 attest to the increasing importance of the hexagonal ferromagnetic compound MnBi. Since the magnetic properties of MnBi crystals are highly anisotropic, it is useful and necessary to have appropriate aids for determining their orientations—a (00.1) standard stereographic projection and a corresponding table of crystallographic angles for this structure. The tables of crystallographic angles for the hexagonal system available in the literature5 are computed for c/a ratios greater than that of MnBi and cannot satisfactorily be used to find the crystallographic angles of MnBi. A table of angles between the crystallographic planes (HK.L) and (hk.1) was calculated for MnBi from the formula0 F=are cos Hh+Kk+ 1/2(Hk+hK) + 3/4 (a/c)2Ll/v(H2 + K2 + HK + 3/4 (a/c)2L2) (h2+ k2+hk + 3/4 (a/c)2l2) on an IBM Type 650 Magnetic Drum Data Processing machine. The lattice constants used are listed in Table I and are those determined by Willis and Rooksby7 at 20°C. More recently published values obtained by both X-ray and neutron diffraction"' show no difference from these significant to the calculation. From the crystallographic angles between the basal plane (00.1) and the general plane (hk.1) in Table I, an (00.1) standard stereographic projection was made for MnBi which is shown in Fig. 1. Acknowledgments The author wishes to thank R. G. Treuting and J. N. Hobstetter for their technical assistance, and Miss D. P. Booth for programing the IBM machine for the calculations. He appreciates the opportunity to read the paper of B. W. Roberts of General Electric Co. prior to its publication. References 1H. J. Williams, R. C. Sherwood, and 0. L. Boothby: Bulletin Amer. Physical Soc., 1956 vol. 1, p. 132. 2 A. U. Seybolt, H. Hangen, B. W. Roberts, and P. Yurcisin: AIME Trans., 1956, vol. 206, p. 605: Journal oF Metals, May 1956. 3R. R. Heikes: Physical Review, 1955, vol. 99, p. 446. .B. W. Roberts: A Neutron Diffraction Study of the Structures of Manganese B.W.Roberts:ANeutronDiffractionBismuthide, Physical. Review, 1956, vol. 104, p. 607. 5 A. Taylor and S. Leber: AIME Trans., 1954, vol. 200, p. 190; JouRNal of Metals February 1954. « C. S. Barrett: Structure of Metals, 2nd Ed., p. 635. McGraw-Hill Book Co. New York and London, 1952. 7B. T. M. Willis and H. P. Rooksby: Proceedings Physical Soc., London, 1954, vol. 67B, p. 290.

Jan 1, 1958

By Richard J. Gowen

THE FUTURE The environment in which we live appears to change so slowly that most of us are unaware that any change has occurred at all. As the years pass, we notice increasing smog in our cities, new variations in weather, the shifting landscape with changing populations, and subtle but ever present alterations in the quality of life. In considering the future of our environment, we find we must grapple with questions concerning the very future of life as we know it today. Questions of resources, technology, society, governance, and purpose. Let us focus on the future of our environment and, in particular, raise the question of who is responsible for the environment. We know that action, or lack of action, will clearly influence our future environment. It is fashionable to catalog the many short-sightedness of our forefathers in developing the technologies which support the style of living to which we have become accustomed. However, I shall struggle to resist the temptation to list the well known ills of our present environment. Rather, let us concentrate on the future in our consideration of the priority of the multitude of options proposed to relieve our current energy crisis. We have recently witnessed the dramatic effects of air pollution produced by Mount St. Helen's eruptions. In the state of South Dakota, we watched our blue skies turn hazy and felt our eyes sting with the presence of volcanic ash. We were appalled at the dramatic effects on the landscape, crops, transportation, and all aspects of life in communities immediately downwind of the volcanic eruption. But in a few weeks, life had returned to near normal on the earth's surface leaving the volcanic ash in the atmosphere to ultimately

Jan 1, 1983

By D. G. Brubaker

IN the history of geophysical exploration by the electromagnetic method many procedures and types of equipment have been used. Source arrangements for surveying on the ground have included long wires grounded at both ends, large loops laid on the ground, small horizontal loops, and vertical loops of moderate to small sizes. Receivers have ranged from simple direction-finding coils to combinations of coils and a bridge circuit to measure quantities related to both amplitude and phase of the received signal. Primary considerations in choosing a survey method are effectiveness, speed, and economy. In work on the ground in which locating and outlining conducting bodies is the objective, methods using a vertical coil and a simple direction-finder have been found the most satisfactory. Mason1 and his associates applied such a method by setting up a vertical source loop, fed with low frequency alternating current by an engine-generator set. With a direction-finding receiver they surveyed lines along the ground in the plane of the loop, taking measurements at each station of the azimuth and inclination of the magnetic field direction. Deviations of this direction from the normal direction, that is, from horizontal and perpendicular to the traverse line, indicated a conducting body. Recent advances in design of light-weight generating equipment have encouraged using this and similar methods. In 1950 W. H. Westphal and the present writer developed a variation of this method and the apparatus for carrying it out. Their ideas were also based on experience with the Boliden Mining Co. method, which uses a small source coil and a vac- uum tube oscillator. The new procedure uses a small vertical source coil, powered by a vacuum tube oscillator, apd a direction-finding receiving coil. Source and receiver are kept a fixed distance apart and move as a unit along the survey lines. At each receiver station only the inclination of the magnetic field created by the source is measured. Source Unit: The source coil and a small vacuum tube oscillator together weigh about 45 lb. The source coil consists of about 60 turns of 10-gage

Jan 1, 1958

President-Mrs John R C Mann, 90 Edgemont Road, Scarsdale, N Y First Vice-President-Mrs C P Pollock, 27 Dante Street, Larchmont, N Y. Second Vice-President-Mrs Mendum B Littlefield, 40 Lincoln Street, Larchmont, N Y Third Vice-President-Mrs J B Cunningham, 236 East 2nd St , Tucson, Ariz Fourth Vice-President-Mrs Theodore Loftus, 410 Cowles St, Fairbanks, Alaska Fifth Vice-President-Mrs George L Craig, 109 Calumet Avenue, Calu¬met, Mich Recording Secretary-Mrs Arnold H Miller, 601 West 115th St, New York 25, N Y Assistant Recording Secretary-Mrs R J Mechin, 66 East 79th St, New York 21, N Y Corresponding Secretary-Mrs John A Poulin, 4 East 70th St , New York 21, N Y Treasurer-Mrs Robert W Rowen, 29 West 39th Street, Room 914, New York 18, N Y Assistant Treasurer-Mrs Samuel H Dolbear, 1000 Park Avenue, New York 28, N Y Assistant Treasurer-Mrs Roger H Sherman, 8 Roman Avenue, Forest Hills Gardens 75, N Y.

Jan 1, 1957

By Walter Miller

Crude oil stocks were some 10,000,000 bbl higher on June I, 1947, than at any time during 1946 but the extremely heavy refinery runs the last half of 1947 cut crude inventories to approximately the 1946 closing level of 225,000,000 bbl. Many refiners were seriously short of crude oil during the year. This shortage was reflected in numerous advances in the posted price of crude, justified in part as an incentive for more production but more generally due to competitive bidding. Some purchasers of crude, endeavoring to keep their plants running, resorted to the payment, either directly or indirectly, of premiums above the posted price. Another common practice employed by some suppliers of crude oil was to demand refined products in exchange or trade for their raw material. The refined products picture has darkened in spite of record throughputs. Stocks of gasoline and light and heavy fuel oils were uncomfortably low at the beginning of the year and were in general still lower at the close. The rationing of some products, principally gasoline, to dealers and stations? initiated during the year, gained momentum as stocks continued to diminish. The emphasis placed by the manufacturers of oil-burning equipment on the convenience and economy of heating with oil, together with the tight situation in coal, has developed a tremendous demand for burning oils. Consumption of liquefied petroleum gas for domestic and household fuel had more than doubled in 1946 over 1943, and the demand seems to be limited only by the ability of the equipment builders to furnish necessary storage. transportation, and burning equipment. The supply situation is likely to become more acute in 1948. Demand for petroleum products is being pushed to new heights not only by the unprecedented domestic market but by a sudden and drastic upswing in estimates of military and governmental requirements. Additionally, oil exports are running far below the volume requested, amounting to less than forty percent in a recent quarter, and export licenses are reportedly being approved on the basis of urgent need *only. AX recent White House release sees little likelihood that estimated requirements of the sixteen nations participating in the proposed Marshall Plan can be met in full over its projected life—1948 to 1951. Present demand dictates maintenance of refinery operations at the highest possible level and the Bureau of Mines has forecast daily average crude runs in 1948 of 5,265,000 bbl. The Economics Advisory Committee of the Interstate Oil Compact Commission recently estimated the 1948 demand for petroleum products at nearly 6 pct above 1947. They further estimate daily average crude runs of 5,375,000 bbl in 1948, some 2 pct higher than forecast by the Bureau of Mines. Projected demand exceeds supply to the extent that Capitol Hill is reportedly investigating ways of enabling oil companies to act in concert without danger of antitrust prosecution, such as elimination of crosshauls, pooling of products, and lowering of octane.

Jan 1, 1948

By Walter Miller

Crude oil stocks were some 10,000,000 bbl higher on June I, 1947, than at any time during 1946 but the extremely heavy refinery runs the last half of 1947 cut crude inventories to approximately the 1946 closing level of 225,000,000 bbl. Many refiners were seriously short of crude oil during the year. This shortage was reflected in numerous advances in the posted price of crude, justified in part as an incentive for more production but more generally due to competitive bidding. Some purchasers of crude, endeavoring to keep their plants running, resorted to the payment, either directly or indirectly, of premiums above the posted price. Another common practice employed by some suppliers of crude oil was to demand refined products in exchange or trade for their raw material. The refined products picture has darkened in spite of record throughputs. Stocks of gasoline and light and heavy fuel oils were uncomfortably low at the beginning of the year and were in general still lower at the close. The rationing of some products, principally gasoline, to dealers and stations? initiated during the year, gained momentum as stocks continued to diminish. The emphasis placed by the manufacturers of oil-burning equipment on the convenience and economy of heating with oil, together with the tight situation in coal, has developed a tremendous demand for burning oils. Consumption of liquefied petroleum gas for domestic and household fuel had more than doubled in 1946 over 1943, and the demand seems to be limited only by the ability of the equipment builders to furnish necessary storage. transportation, and burning equipment. The supply situation is likely to become more acute in 1948. Demand for petroleum products is being pushed to new heights not only by the unprecedented domestic market but by a sudden and drastic upswing in estimates of military and governmental requirements. Additionally, oil exports are running far below the volume requested, amounting to less than forty percent in a recent quarter, and export licenses are reportedly being approved on the basis of urgent need *only. AX recent White House release sees little likelihood that estimated requirements of the sixteen nations participating in the proposed Marshall Plan can be met in full over its projected life—1948 to 1951. Present demand dictates maintenance of refinery operations at the highest possible level and the Bureau of Mines has forecast daily average crude runs in 1948 of 5,265,000 bbl. The Economics Advisory Committee of the Interstate Oil Compact Commission recently estimated the 1948 demand for petroleum products at nearly 6 pct above 1947. They further estimate daily average crude runs of 5,375,000 bbl in 1948, some 2 pct higher than forecast by the Bureau of Mines. Projected demand exceeds supply to the extent that Capitol Hill is reportedly investigating ways of enabling oil companies to act in concert without danger of antitrust prosecution, such as elimination of crosshauls, pooling of products, and lowering of octane.

Jan 1, 1948

By G. J. Dickman, W. N. Thomas

The factors involved in selecting, a drive system for a grinding mill, including gearing arrangement, motor selection, and electric-supply system limitations are reviewed. Equipment costs are evaluated on a dollar per horsepower basis and starting performance is analyzed, the latter making use of a recently developed computer program. The present interest in large-diameter grinding mills and the rapidly rising cost of the drive in proportion to the cost of the mill establishes a need to explore the drive system in detail. The drive for a 7 to 8,000 hp mill will cost from $350 to $600,000 which represents nearly half the total cost of the mill package, and requires as much building space as the mill proper. Some of the drive components require a longer time to manufacture and the installation time and costs are equal to those for the mill. It is apparent that the drive has become a dominant factor in the overall mill design consideration. A new plant requires a tremendous investment in both time and money. With the high degree of competition in the mining industry, low capital cost is an exceedingly important factor in the development of a project. It is just as important, however, to insure that the equipment is going to perform satisfactorily for the anticipated life of the project without adding unplanned operating, maintenance, and replacement costs. This is the position in which the engineer or designer usually finds himself and is really one of his primary functionsestablishing a realistic compromise between cost and performance. Large primary grinding mills can represent a major portion of the cost of a plant and the drive system accounts for a substantial part of this cost. These facts justify a careful analysis of the drive requirements and all of the factors involved in ultimately arriving at the best system for the lowest cost. A number of excellent papers have been published on various aspects of mill drives. The authors have used information from these papers in making a study of a drive for a 7600-hp, 32 x 12-ft autogenous mill. This was a broad investigation, including mechanical and electrical design, layout, performance, and maintenance considerations, and overall economics leading to the selection of the optimum system for that mill. This paper was developed from the study and includes information applicable to large mills in general. For a successful and economical application, the drive must be considered as a system and all of the components analyzed to determine their effect on the system. This requires the participation of the mill designer, gear, and other mechanical component manufacturers, motor manufacturer, plant designer, and operator. A careful analysis of the mill torque requirements is first necessary to provide a basis for selection of the mechanical and electrical drive components. Because of manufacturing limitations on the size and capacity of gearing available for these low-speed applications, an evaluation of costs for various gear ratios and configurations in conjunction with motor speeds is required. Consultation with the power-supply company is necessary to determine limitations on motor-starting disturbances and to analyze operating costs on the basis of existing rate structures and low characteristics. Finally, consideration must be given to the drive arrangement and its affect on plant layout, space requirements, and location of auxiliary equipment for the selected process. There are presently three basic schemes for driving a mill. The first is a direct drive by a motor operating at mill speed with no gearing. The second is by a higher-speed motor through a trunnion-connected gear drive. The third is by a motor through the more conventional pinion and ring-gear with the option of an interposing gear box to permit greater motor speed than pinion shaft speed. [(Fig. 1.)] Several manufacturers have or are presently developing motors which drive the mill directly without the use of gears. One arrangement has the motor armature intimately surrounding the mill shell-discharge spout or extension of the trunnion journal. The motor stator is then supported independently and surrounds the shell or trunnion-mounted rotor. Another variation utilizes an independent mill-speed motor connected to the trunnion by a drive shaft and flexible couplings.

Jan 1, 1972

By Alex Hay

THE Sydney coal field, the largest and most valuable in Nova Scotia, is situated on the northeastern coast of the Island of Cape Breton, extending from Mira Bay on the south to Cape Dauphin on the north, a distance of 30 miles, and has a general dip northeast under the sea. (Fig. 1.) The field embraces the mining villages of Morien, Birchgrove and Reserve and the towns of Dominion, Glace Bay, Waterford and Sydney Mines. The city of Sydney is situated about midway between the northern and southern extremities of the field and on the western fringe of the productive coal measures. Sydney harbor crosses the coal field, cutting off direct rail connection between Sydney Mines and the greater part of the field to the southeast. (Fig. 2.) The coal measures are exposed in the cliffs on the coast line, which rise to an average height of 30 ft., and are almost continuous throughout the length of the field. The portion of the coal field under land forms a small segment of a circle, the greatest distance from the coast landwards is 9 miles, and it occupies an area of 200 sq. miles. The greatest distance developed seawards from the shore by mining operations is 2 ¼ miles. The strata maintain a regularity of dip at this distance, proving a submarine area of about 70 sq. miles. How much further the coal field extends seawards is unknown, but the indications are that it extends far beyond the present economical working limit and in all probability there is a vast submarine coal field. The productive coal measures are of Carboniferous age, these being underlaid by beds of sandstone, locally classed as millstone grit, which define the southern limit of the field,, while a spur of syenitic hills cuts off the coal-bearing strata on the north. Two main anticlinal folds having a general course easterly divide the field into three basins named from north to south: Sydney Mines-Lingan, Glace Bay and Morien.

Jan 1, 1929

By M. N., Short

TIE Pioneer mining district, better known as the Superior district, from its principal town, is located in Pinal County in south-central Arizona about 80 miles east of Phoenix and 22 miles west of Miami. The region embraces a confused series of mountain ranges of moderate FIG. I.----SUPERIOR, LOOKING NORTH FROM SOUTH BANK OF QUEEN CREEK. MAGMA MINE IS INDICATED BY WASTE DUMP IN GULCH TO RIGHT OF CENTER. height but precipitous slopes, between which lie irregular valleys filled with alluvial detritus. The average elevation is about 2800 ft. in the valleys and the summits of the ranges reach 2000 ft. above this. Superior is situated on the north bank of Queen Creek where it emerges from one of those ranges into a more or less basin-shaped valley. The drainage of Queen Creek is to the southwest and the flood waters spread out and lose themselves in the desert northeast of Florence, the county seat of Pinal County.

Jan 2, 1926