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ENGINEERS AVAILABLE (Under this heading will be published notes sent to the Secretary of the Institute by members or other persons introduced by members.) Graduate mining engineer, with 10 years' experience, having an office in New York, would like to represent a mining company as selling and purchasing agent, and general supervision if desired. Machinery agency considered. No. 259. Member, technical graduate, with several years' experience as engineer for a pyrites company, and as geologist and engineer for copper, nickel, and silver companies, desires a position as engineer or superintendent of mines. No. 260. Member, technical graduate, aged 29, with experience as draftsman, surveyor, and superintendent of iron and gold mines, and as construction engineer, is open for a position as mine superintendent, or in mine examination or construction. No. 261.

Jan 11, 1915

OFFICIAL Washington is gravely concerned over the adverse military situation caused by the all-out intervention of the Chinese Communists in Korea. What the policies of the United Nations and the United States will be in the new crisis is unknown. However, Stuart Symington, chairman of the NSRB, set the general pattern for mobilization in the near future when he said that this country would move from a "light gray to a dark gray mobilization." The implications of accelerated mobilization for the mining industry are particularly apparent with respect to the manpower situation. Revised policies recently initiated for the recall of reservists may be abrogated, in which case key personnel in the mining industry may face calls to active duty with insufficient consideration given to their indispensability to national defense in their present positions.

Jan 1, 1951

FOR two days preceding the Colorado Mining Association annual meeting, officers representing all interests of the lead and zinc producers hammered away at remedies for the ills of the industry behind closed doors at the University Club in Denver. For once in the stormy history of the industry, large and small producers alike came to agreement with an automatic sliding scale stabilization import tax. The proposal set forth in full on the following page, is not new being merely an amplification of the tariff arrangement whereby tariffs are imposed when the price drops below ceiling. Its advocates claim that it is simple, automatic, and flexible. It will give stability to the industry without subsidies and since no government bureaus will be required to administer it, there will be no cost to the taxpayer.

Jan 3, 1953

By A. Tremari, Paul I. Eimon

Photogrammetrists are studying with new interest the problems of mine mapping and mining engineers are beginning to see what photogrammetry can do for them. Administrators in a number of European and U. S. mines have tried photogram- metric methods and are finding that better maps and data, needed for mine development, can be produced with savings of time, men, and money. In addition to wide use in small scale mapping projects, photogrammetric methods are now used for producing large scale plans and maps in German coal and lignite mines, in some U. S. open pit mines, to inventory TVA coal stock piles, and to compute highway excavation volumes. In each case surveying and map compilation has been made more efficient and accurate by photogrammetry and at significant savings over ground methods.

Jan 5, 1959

By W. L. Kendrick

At Henderson, Nev., Manganese Inc. is mining by open pit methods a low grade manganese ore averaging 21 pct Mn, concentrating it to 42 pct by flotation, and agglomerating it to produce nodules of metallurgical grade-about 48 pct Mn. The striking aspect of the whole operation, and one that has considerable effect on nodulizing, is the use of approximately 250 lb of reagent per ton of mill feed. For many years rotary kilns have been used for drying, calcining, clinkering cement and other products, and burning lime. Their use for nodulizing or agglomerating a metallic ore is new-first reported in this country in 1904, when a small rotary kiln at South Chicago was employed to nodulize flue dust from a blast furnace. After a short time this process was replaced by sintering.

Nov 1, 1956

By J. F. Kemp

Introduction The Bulletin of the Institute for March, 1911, is chiefly devoted to papers upon the iron ores of northeastern Cuba. At that time information about the new developments in the peculiar brown hematites of the region was becoming widely circulated and interest was especially keen. For some years exploration had been conducted with pits and trenches and so great an area had been shown to contain ore in the Mayari, Moa, and Cubitas or San Felipe districts, that the reserves conveniently situated for the consumption of American furnaces were estimated as quite two billions of tons. In the subjoined footnote will be found a list of the principal papers of special interest which have already been published.1 The further remark may, however, be made that the

Jan 2, 1915

By THEODORE DWIGHT

Members of the Institute have already received a special pamphlet descriptive of the United Engineering Society building, and wilt doubtless be interested in the progress that has been made up to date-February 24th-in erecting this home for the engineering profession. The old buildings on lots Nos. 25 to 33 W. 39th St., New York, were,' removed many months ago, but final contracts for the new, building were not let until the summer of 1905. The size of the building is 115 ft. on 39th Street, and 88 ft. in, depth; the height from, the sidewalk to the top of the parapet is 220 feet. The cubic contents of the building from the. bottom of the basement floor, to the top of the roof, including the pent houses, is 2,290,000 cubic feet. The number of light's, in the building will be between 4,000 and 4,500. The air supply for Auditorium and Lecture. Halls will amount to nearly 10.0,000 cu. ft, per minute, and the exhaust. to 90,000 cu. ft. per minute. In excavating for cellar and foundations, the average depth where good rock was. found was 37 ft.-it varied, however,: from 27 to 65 ft., due to an old water-course having run through the center of the lot; this condition, and the presence of soft rock, which rapidly disintegrated when exposed to air and water, made the foundation-work very difficult. As two of the column-footings of the building have to sustain a weight of 3,000,000 11) each, the most substantial foundations are necessary; 13,000 cu. yd. of earth were excavated for the foundation and basement; and 1,600 cu. yd. of concrete were necessary, to build up the footings. In the completed building there will be about 3,500,000 bricks. Owing to the number of auditoriums, and their location, and the placing of the library on the top floor; where allowance will have to be made for the enormous weight of 300,000 books, the structural steel work has been unusually complicated in this building. For instance, over the auditorium there are two 60-ton plate-girders, made up

Mar 1, 1906

Established as a Division September 27, 1949 LeRoy Scharon, Chairman C. M. Cooley, Secretary 29 West 39th Street New York 18, N Y

Jan 1, 1952

During the year this Committee has had the benefit of the services of 75 Committee members, resident in the various States of the Union and in foreign countries, 10 of them representing us abroad. A number of plans for awakening the interest of possible new members have been carried out and the results have been very gratifying. The comparative results for 1913 and 1914 are as shown in the following table: 1913 1914 Applied for membership 630 946 Elected 450 1,006 Accepted election 433 921 When it is remembered that the depression following the outbreak of war in Europe has had more serious effect on the mining industry than almost any other, these results cannot be regarded as anything other than very encouraging. Because of the unsatisfactory conditions still prevailing it will doubtless be difficult to make even as good a showing next year. It is considered, however, that the function of this Committee is not merely to secure new members, having no regard for other than numbers; its true function is to exercise a proper supervision over the growth of the Institute, building it up in those fields in which it is weak, and directing its growth in such a way as to make it most effective in fulfilling its proper function as the national organization representative of the mining profession. The plan of inviting the alumni of the leading mining schools to apply for membership, which was initiated last year, was completed this year, with the exception of one or two schools, notably the University of California, from which we have not been able to obtain a list of alumni. With these exceptions we have now extended to the graduates of all the important mining schools of this country, and several of those abroad, an invitation to apply for membership in the Institute. It. is not thought desirable to repeat this invitation too frequently, and it is therefore suggested that this field be left alone for a year or two, when, if the mining industry experiences a marked revival of interest, it will be well to send out a second letter to the same men.

Jan 4, 1915

By G. Sachs, G. Espey

SIMPLE methods can be used for the determination of the residual stresses in thin-walled tubing if the stresses consist of high tensile stresses at the one surface and high compressive stresses at the other surface Such a stress distribution is approximated in sunk tubing and in deep-drawn shells It is possible to cut sections from such articles in such a manner that a major part of the residual stress is relieved by a bending of the part that is separated from the adjacent metal The circumferential stress is evaluated from the change in diameter D, occurring on splitting a length of tubing (Fig Ib),1-5 or from deflection resulting from the cutting out of a circumferential tongue (Fig Ia) G The bending moment M released by such a flexure is [ ] The release of this bending moment corresponds to the release of stresses, which, in a thin section, vary linearly from one surface to the other, and have the following value in a particular fiber a certain distance (zx from the surface [ ] where C is the section modulus and d is the thickness of the section, the ratio AI C being d 2 for a rectangular section* The maximum stress values at the surfaces are [ ] For most purposes the simpler equations [ ] will be satisfactory, where Dm is the average of the mean diameters of the tubing

Jan 1, 1941

By S. W. Churchill

A digital computer was used to obtain an exact numerical solution for the transient behavior of the insulation and earth adjacent to an isothermal, submerged flat surface for a single set of parametric values. Comparison of the computed results with analytical solutions for limiting conditions revealed that a complete and general solution for all parametric values could be constructed from these limiting solutions. Complete and general solutions for insulated spheres and cylinders can also be constructed from limiting solutions. The procedure is illustrated in part for an insulated spherical tank. The heat flow was found to fall rapidly to a pseudo-steady state; after some time, it then decreased slowly to zero for a flat plate and cylinder, and to a low steady-state rate for a sphere. The accumulative heat flow during the initial falling-rate period may be a significant fraction of the heat flow during the entire first year. INTRODUCTION Underground storage of liquefied natural gas and liquefied petroleum gas has received considerable recent attention. The rate of heat flow from the earth to the storage cavity and the resulting temperature field in the earth are important factors in the technical and economic evaluation of such storage facilities. The objective of this paper is to indicate how complete solutions can be developed for the transient flux and temperature field for various geometrical configurations. The representative properties and dimensions, and the resulting parameters utilized in the illustrative results, are indicated in Table 1. The results presented herein are for dry earth. The effect of the latent heat of solidification of water in the soiI will be described in a subsequent paper. The temperature field in the insulation and earth is determined by energy balances, boundary conditions and initial conditions. The physical problem can be described mathematically with virtually no idealizations insofar as physical properties are known. It appears possible to solve the equations by numerical integration on a high-speed digital computer for any geometrical configuration and conditions. For complex situations, however, the computations are expensive and the results are highly specific. Analytical solutions have been developed for a few simple but important geometrical configurations and conditions, including one-dimensional heat transfer from (or to) earth at an initially uniform temperature to (or from) flat plates, spheres and circular cylinders. The solution for an insulated flat plate has also been derived but is in the form of a slowly converging series involving taklated functions. It was planned to use a computing machine to evaluate this series for a number of representative conditions. However, upon examination of the results of preliminary computations it was discovered that a complete, general and accurate solution could be developed by interpolation between several much simpler solutions for limiting conditions. This technique then was used to develop a a complete solution for an insulated sphere. The equations presented herein are derived in Carslaw and Jaegerl and other books on applied mathematics, or they are simple extensions of these previous results. Hence, all derivations are omitted. Emphasis is instead placed on the results and their

By R. Simon, L. Yarborough

This paper presents a correlation for predicting the critical pressures of gas-solvent-reservoir oil systems of the type encountered in gas and solvent injection processes. Experimental data from 14 systems were used to develop the correlation which expresses critical pressure as a function of composition, C7+ mol weight, and C7+ characterization factor. Critical pressures predicted by the correlation for the 14 gas-solvent-reservoir oil systems have an average deviation of 2.8 per cent of the experimental values. The correlation war used to study a wide variety of other hydrocarbon mixtures reported in the literature whose critical conditions are in the range of interest in oil recovery work (100 to 280F and 2,000 to 6,000 psia). Critical pressures predicted by the correlation had an average deviation, expressed as per cent of experimental value, of 5 per cent for 20 miscellaneous mixtures from the literature, and 6.4 per cent for I7 methane-butane-decane mixtures reported by Sage and Lucey. INTRODUCTION Predicting critical points of hydrocarbon mixtures is an important part of phase behavior calculations. If the critical point can be predicted for a specific mixture, the separation between the bubble-point and dew-point regions will be defined, and physical properties of the mixture can be calculated by using the principle of corresponding states. Numerous correlations for predicting critical points of hydrocarbon mixtures have been published. Six of these correlationsl-8 were for light hydrocarbons, and two correlations7,8 ere for high boiling-point petroleum distillates. Organick9 And Eilerts" presented correlations which combined the published data from both light and heavy mixtures, and these correlations became the only available methods for predicting critical pressures for wide boiling range mixtures. In the course of the authors' work on secondary recovery by gas and solvent injection, experimental data were obtained for 14 mixtures of dry gas, ethane-propane-butane solvents, and various reservoir oils. The critical pressures and critical temperatures of these gas-solvent-reservoir oil systems were in the range of 1,900 to 4,800 psia and 180 to 265F. The critical pressures predicted for the 14 mixtures by the correlations of Organick and Eilerts had an average deviation from the measured values of about 13 per cent. The authors felt that it was necessary to develop a better correlation for engineering calculations and the resultant correlation, which is presented on Figs. 1 and 2, predicts the critical pressures of the 14 mixtures with an average deviation of 2.8 per cent. The validity of the correlation was tested by applying the correlation to other hydrocarbon mixtures reported in the literature. This subject is discussed later in the paper. The authors feel that there is also a need for an improved critical temperature correlation for gas-solvent-reservoir oil systems. However, developing a critical temperature correlation is a significant study in itself and is not included in this paper. EXPERIMENTAL DATA The compositions and critical points obtained by the authors for 14 gas-solvent-reservoir oil mixtures are shown on Table 1. The methane concentrations in these mixtures varied from 20 to 63 mol per cent. The intermediate hydrocarbon group, consisting of ethane, propane, and butane, varied from 20 to 64 mol per cent, and the concentration of the C,, fraction from 10 to 20 mol per cent. The physical properties of the C,, fraction covered the range from light, paraffinic, nonasphaltic (Mixtures 5, 6, 7, 8, 9 and 10) to heavy, aromatic, and asphaltic (Mixtures 13 and 14).

By R. A. Greenkorn, R. C. Smith

Hele-Shaw cells are used to model creeping flow through porous media (where Darcy&apos;s law is valid). The effects of inertia on flow about obstructions in a Hele-Shaw cell can be calculated by a perturbation method if one can determine a solution to Laplace&apos;s equation. Results of a computer solution for flow about circular, square and elliptical obstructions are presented. These results show that or a modified Reynolds number of less than I, the inertia terms are small; and for values of less than 3, the average streamline predicts the ideal flow. Therefore, the analogy might be used for studying flow in porous media up to a modified Reynolds number of at least 3. INTRODUCTION The nature of fluid flow in porous media is of interest in the fields of soil mechanics, ground water flow, petroleum production, filtration and flow in packed beds. Because it is very difficult to study the phenomenological behavior of flow in porous media, homologs and analogs are used to study flow characteristics. A Hele-Shaw model, made of two closely spaced plates - usually glass — is often used as an analogy to two-dimensional flow in porous media. Hele-Shaw2 showed experimentally that the streamline configuration for creeping flow around an obstacle located between two closely spaced parallel plates is the same as for two-dimensional, ideal flow about the same obstacle. Stokes7 verified these observations mathematically. The usual equation of motion for flow in porous media is Darcy&apos;s law. The form of the mathematical statement of Darcy&apos;s law is identical, within a multiplicative constant, to the expression for the average velocity over the plate gap in the plane of a Hele-Shaw model. These models may be used to describe flow in both homogeneous and heterogeneous porous media. In the mathematical proof of the Hele-Shaw analogy it is assumed that the convective terms in the Navier-Stokes equations are negligible and that the equations of motion degenerate to Laplace&apos;s equation, with pressure the dependent variable. Whenever a Hele-Shaw model is used as an analogy to flow in porous media, .the validity of this assumption is in question. Riegels5 showed that if convection is not neglected, the velocity distribution around a cylindrical obstruction in the flow field depends on a Reynolds number, the plate spacing, and a dimension characteristic of the obstacle. Riegels&apos; solution, a perturbation solution, uses the boundary condition that the flow rate into the obstacle averaged over the plate gap at any point on the obstacle is zero. The method requires that a solution to Poisson&apos;s equation for the perturbation pressure be found. Riegels evaluated this solution for the case of the cylindrical obstruction. His method may be simplified by eliminating the need for solving Poisson&apos;s equation for the perturbation pressure. Instead, an analytic expression for the perturbation pressure gradient is obtained (valid for arbitrary shapes) and used to eliminate pressure from the equations for the perturbation velocities. The results show, for symmetrical shapes, that if NRe < 1, the convective acceleration terms are small, and that the average velocities represent ideal flow up to at least NRe = 3, where: L is a characteristic dimension of the obstacle perpendicular to flow, b is the plate spacing, u is viscosity, v, is velocity of approach and p is density. THEORY* Incompressible fluid flow through a Hele-Shaw model and a porous medium are analogous because the equations for the average velocity components in two-dimensional flow are identical if:

Jan 1, 1970

By Edgar R. Kendall

A knowledge of the fundamental principles of locating, sampling, testing and evaluating materials is essential in prospecting for mineral aggregates. In this discussion, mineral aggregates will be considered sand, gravel, crushed stone and slag that are used as materials of construction. The quantity of mineral aggregates produced in the United States during the year 1935 for such purposes was roughly 165,000,000 tons, about 60 per cent of which was sand and gravel, 37 per cent crushed stone and 3 per cent crushed slag. The total value of this material was approximately $100,000,000. It is apparent therefore that the prospecting for suitable mineral aggregates is of considerable economic importance. In prospecting for mineral aggregates, the methods employed are the same whether the organization is large or small. In the large organization there may be available geologists for locating sources of supply, a land acquisition department to arrange for the necessary options or permits, engineers to do the sampling, a laboratory for testing, and a board of consulting materials engineers to make the final selection. Even small organizations must follow the same general procedure, though the responsibility for the selection of aggregates may rest with one man, who may or may not be an engineer, but who must depend entirely upon his own judgment. Locating the Supply The initial step in prospecting for mineral aggregates is the locating of suitable, adequate and economic sources of supply for the project in mind. Commercial plants in the vicinity should be investigated and a survey made of the existing structures that have been built of aggregates from these sources. If the structures are rather old and show no signs of deterioration, it is fairly good evidence that the aggregate is satisfactory. If materials of the proper quality can be obtained from commercial sources in sufficient quantity, and delivered to the job economically, it

Jan 1, 1942

By Edgar R. Kendall

A knowledge of the fundamental principles of locating, sampling, testing and evaluating materials is essential in prospecting for mineral aggregates. In this discussion, mineral aggregates will be considered sand, gravel, crushed stone and slag that are used as materials of construction. The quantity of mineral aggregates produced in the United States during the year 1935 for such purposes was roughly 165,000,000 tons, about 60 per cent of which was sand and gravel, 37 per cent crushed stone and 3 per cent crushed slag. The total value of this material was approximately $100,000,000. It is apparent therefore that the prospecting for suitable mineral aggregates is of considerable economic importance. In prospecting for mineral aggregates, the methods employed are the same whether the organization is large or small. In the large organization there may be available geologists for locating sources of supply, a land acquisition department to arrange for the necessary options or permits, engineers to do the sampling, a laboratory for testing, and a board of consulting materials engineers to make the final selection. Even small organizations must follow the same general procedure, though the responsibility for the selection of aggregates may rest with one man, who may or may not be an engineer, but who must depend entirely upon his own judgment. Locating the Supply The initial step in prospecting for mineral aggregates is the locating of suitable, adequate and economic sources of supply for the project in mind. Commercial plants in the vicinity should be investigated and a survey made of the existing structures that have been built of aggregates from these sources. If the structures are rather old and show no signs of deterioration, it is fairly good evidence that the aggregate is satisfactory. If materials of the proper quality can be obtained from commercial sources in sufficient quantity, and delivered to the job economically, it

Jan 1, 1942

By Stephen L. Bolivar, Susan H. Balog, Thomas A. Weaver

A data-classification scheme was developed to detect potential uranium mineralization in the Montrose l º x 2º quadrangle, Colorado. The methodology developed is a rapid and efficient method of resource evaluation on a reconnaissance scale. The necessary techniques were developed and refined to digitize, integrate, and register various large geological, geochemical, and geophysical data sets for the Montrose quadrangle, Colorado, using a grid resolution of 1 km. All data sets for the Montrose quadrangle were registered to the Universal Trans- verse Mercator projection. The data sets include hydrogeochemical and stream sediment analyses for 23 elements, uranium-to-thorium ratios, airborne geo- physical survey data, the locations of 90 uranium occurrences, and a geologic map (scale 1:250 000). Geochemical samples were collected from 3965 locations in the 19 200 km2 quadrangle; aerial data were collected on flight lines flown with 3-5 km spacings. These data sets were smoothed by universal kriging and interpolated to a 179 x 119 rectangular grid (each grid block is 1 km2). A mylar transparency of the geologic map was prepared and digitized. All possible combinations of three, for all data sets, were examined for general geologic correlations by utilizing a color microfilm output. Subsets of data were further examined for selected test areas. A classification scheme for uranium mineralization, based on selected test areas in the Cochetopa uranium district, is presented. Areas favorable for uranium mineralization, based on this scheme, were identified and are discussed.

Jan 1, 1982

By C. H. Ault, D. D. Carr

Four counties in Indiana- LaPorte, Vigo, Vanderburgh, and Switzerland-have potential for deep underground limestone mining because they are in or near high population areas and have no surface-mineable limestone deposits. The principal markets are Gary-South Bend, Terre Haute, Evansville, and Cincinnati. Mineable seams suitable for aggregate are 120-150 m (400-500 ft) below the surface in LaPorte and Vigo Counties, about 90 m (300 ft) below the surface in Switzerland County, and about 600 m (2,000 ft) below the surface in Vanderburgh County. Some deposits are also suitable for high-purity uses or for cement raw materials, which enhances their potential for exploitation.

Jan 1, 1983

By J. D. Mote, A. Rosen, J. E. Dorn

The effect of strain rate and temperature on the critical resolved shear stress for (1100) [1120] prismatic slip was determined for the intermediate hexagonal phase containing about 67 at. pct Ag and 33 at. pct Al. Whereas the flow stress increased only slightly as the test temperature was first decreased below room temperature, a rapid increase inflow stress was obtained with yet greater decreases in temperature from about 240" to 4°K. The effect of both temperature and strain rate on the flow stress over the low-temperature range could be completely rationalized in terms of the Peierls mechanism when the deformation is controlled by the rate of nucleation of pairs of kinks. A few years ago Mote, Tanaka, and Dorn1 observed that the critical resolved shear stress for prismatic slip of a 67 at. pct Ag plus 33 at. pct A1 hexagonal intermediate phase by the (1100)[1120] mode decreased precipitously as the test temperature was increased from 4" to about 160°K. Their results for both basal and prismatic slip are given in Fig. 1. It is obvious that only the flow stress for prismatic slip is strongly temperature-dependent, whereas the flow stress for basal slip is independent of temperature. If the temperature dependence of the flow stress were primarily due to interstitial impurities, it might be expected that they would influence the flow stress for basal slip as well. Since the activation volume at 115°K for prismatic slip was determined to be about 15b3, where b is the Burgers&apos; vector, this thermally activated deformation process was tentatively ascribed as being due to the Peierls mechanism. But the various analyses of the Peierls mechanism then available as formulated by Seeger2 and also by Lothe and Hirth3 did not agree well with the experimental data. Since that time a more realistic theory for the operation of the Peierls mechanism under conditions where the strain rate is determined by the rate of nucleation of pairs of kinks has been presented by Dorn and Rajnak.4 The present investigation was, therefore, undertaken in order to provide the essential data for a careful check on the agreement between this theory and the low-temperature deformation by prismatid slip of the above-mentioned Ag2A1 intermediate phase. EXPERIMENTAL TECHNIQUE Single-crystal specimens so oriented that the [1120] direction and the normal to the (1100) plane were at 45 * 2 deg to the tensile axis were grown from the congruent melting composition of about Ag2Al for the intermediate hexagonal phase by the

Jan 1, 1964

By E. O. Fromm, R. I. Jaffee, R. M. Evans

IN connection with a research on gallium alloys, a method for the thermal analysis of very low melting alloys was developed, which appeared to be worthy of more than passing interest. As used, the method was suitable for work in the temperature range, — 72° to 250°C. However, with suitable adjustment, the method could be adapted for use over broader temperature ranges. The Rosenhain temperature gradient furnace,&apos; adapted for low-temperature use, was the basis for the method. The gradient was set up in a stainless steel tube. The specimens were lowered through it at a constant rate while time-temperature or inverse rate data were taken. It was essential to maintain careful control of the top and bottom temperatures of the gradient. Also essential was good heat transfer from the walls to the specimen. This was accomplished by a liquid heat-transfer medium.

Jan 1, 1953

By Walter C. Labys

INTRODUCTION Interest in multicommodity stabilization schemes has increased recently for several reasons, a most important one being the experienced wide swings in primary commodity prices. These prices rose sharply between mid - 1972 and end - 1974 giving commodity exporting countries an opportunity to gain sizeable increases in export earnings. But since then, prices have tumbled and these countries are searching for a means to stabilize if not to increase their earnings. While this problem is particularly serious for developing countries, the developed countries are concerned about the impending upward price swing, which would increase inflation before recovery from the world recession is assured. As a direct consequence of the emergency meeting of the U.N. General Assembly devoted to commodity problems in April of 1974, interest has been renewed in the Keynesian (4) plan for an international multicommodity buffer stock program. In particular, UNCTAD (8) is designing an integrated commodity scheme to be discussed within that body. In terms of approaches that have appeared in designing such a program, none exist which relate to the interpretation of the independence and interdependence of prices of the commodities of interest. Typical criteria for selecting commodities for the scheme have included their importance in world trade, their particular origin from developing countries, and their feasibility for storage. But the financial management of a multicommodity buffer stock requires a consideration of commodity prices, yields, and risks as does as any portfolio of assets. The approach which we take in this study is that of application

Jan 1, 1977