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Iron Ore Resources of the World (Die Eisenersvorrate der Welt)_ By G. Einicke. Verlag Stahleisen, Dusseldorf, 1950. 418 p., with 192 tables and an atlas volume containing 100 p. of reaps. 66 German Marks.-A notable work in which the latest available information on iron ore deposits has been compiled by diligent work, continent by continent, country by country. The author reveals the effect of geological formations, iron content of ore, accessability, cost of transportation, political and economic considerations. Ore beds of importance to the German iron and steel industry are given more space than others. The bibliography contains almost 250 references. A tragic comic feature is the author's complaint that as soon as a map of iron ore resources of a country has been completed, the country's boundaries are changed. Reviewed by W. Trinks, Carnegie Institute of Technology. Industrial Research Laboratories of the United States. National Research Council, Washington, D. C. Ninth Edition. 1950. 445 p. $5.-Contains information on the research laboratories of 2845 industrial and commercial organizations, including names of research executives, location of labs, types of activity, whether any consulting services are offered. There are two appendices, one of which lists data on government labo ratories which cooperate with industry, and the :)ibex naming universities and colleges offering research services to industry.

Jan 2, 1951

By R. C. Corson

Modern microprocessor systems make it possible to use several variables to anticipate changes in the process and to react with responses before upsets can be magnified by the process or by control action. Through tighter control, "insurance" can be eliminated from process set points without affecting product quality. In actual operation with a traveling grate furnace this control philosophy has produced savings of up to 20% in fuel consumption and 8% in fan power usage while producing a more consistent quality product.

Jan 1, 1984

The current status of the US lead and zinc industries was reviewed by J. G. McCullough, president of Amax Lead and Zinc Inc. He reported that in the US, lead and zinc are separate industries because of the nature of mineralization. The large Mississippi-type zinc deposits are practically lead-free, and while the new lead belt in Missouri has some zinc content, it does not have the same favorable economic impact as in the complex massive sulfide ore bodies being developed elsewhere.

Jan 11, 1977

By Carle Hayward

SULPHUR has long been one of the banes of the steel manufacturer and often no effort and expense have been spared in order to reduce it to a small per cent. in the finished product. This condition is clue to a general conviction that in many cases where steels have failed in service, sulphur has been the cause. But there has been a growing feeling in recent years that the verdict against sulphur has been unnecessarily severe. In cases of segregation it was present in augmented amounts along with other impurities, but it had not caused the segregation. High sulphur in pig iron is caused by poor furnace conditions and the sulphur is merely one indication of an iron that has not been properly reduced. No amount of subsequent treatment under oxidizing conditions in the open-hearth furnace can remedy the defects, although the per cent. of sulphur may be considerably reduced. In other words, the causes of bad steel can frequently be traced back to bad pig iron, and sulphur is merely one indication that the pig iron is bad. The writer recently visited a steel plant where a mass of evidence had been accumulated which substantiated this fact, and the superintendent was .emphatic in stating that high sulphur was not harmful provided the steel was not otherwise poor due to insufficient reduction in the blast furnace. The presence of a moderate amount of sulphur is desirable from the standpoint of the man who machines the steel. The low-sulphur material drags and the production of a smooth surface is very difficult. A slight increase in sulphur enables the machinist to produce a smooth surface without difficulty. Since, therefore, such large quantities of steel are subjected to machining, it becomes highly important that the sulphur controversy should be settled, and if its presence is proved to be harmless the ban on it should be lifted.

Jan 10, 1916

By Lewis T. Wright

(Pittsburg Meeting, March, 1910.) I HAVE long been aware that ferruginous copper furnace slags if fused in the electric arc will yield metallic iron containing copper, and in order to confirm this knowledge, and to obtain further information of the behavior of such slags in the high temperature and reducing conditions of the electric furnace, a number of samples of slag were fused in an experimental electric furnace. The results obtained, given in Table I., show that a very large amount of metallic iron was produced, and that this iron carried with it practically all the copper, gold, and silver, and more than 50 per cent. of the sulphur, of the original slag. The metallic buttons formed in the electric furnace were clean, hard, but not brittle.

Mar 1, 1910

By P. E. Fitzgerald

SOME readjustments in the research programs of most of the oil companics and petroleum engineering schools have been made necessary by the war. The most obvious change has been the conversion from production engineering to problems more closely related to the nation's was effort. Many laboratories now devote much of their time to studies on products to be derived from petroleum. such as synthetic rubber, toluene, and substitutes for critical materials. Others are working to improve motor fuels including high-octane gasoline and the special lubricants required by the wide geographical range of the present conflict. Of great importance is the experience of the geophysicists, who are now devoting a great percentage of their time on instrument research and production or special apparatus required by the armed forces.

Jan 1, 1943

By Jerome Strauss, Carl L. Shapiro

THIS is a critical examination of the theory that the amount of carbon necessary to form the iron-carbon (carbide) eutectoid is lowered by the addition of any carbide-forming element. Although this theory has been built up over a long period of years,, it appears, in the light of recent published investigations upon the ternary constitutional diagrams of iron with carbon and other alloying elements, to be no longer tenable. A survey of these new results, summarized below, shows that (as is known) some metals lower the carbon content of the iron-carbon (carbide) eutectoid, whereas others raise it, but (as not heretofore clearly set forth) some first move the eutectoid in one direction and then, at higher concentrations, shift it in the opposite direction. Moreover, these differences in behavior exist even among the common alloying metals classed as carbide formers. PART I INFLUENCE OF BODY-CENTERED CUBIC ELEMENTS The effects of the various body-centered cubic metals (chromium, tungsten, molybdenum, vanadium, columbium and tantalum) are reviewed individually. Iron-carbon-chromium System.-In the monograph on Alloys of Iron and Chromium, Kinzel and Crafts' concluded that the carbon content of the eutectoid is lowered by increasing the chromium content. The quantitative influence of chromium on the eutectoid point of iron-carbon alloys was shown by Monypenny2 (Fig. I) and no data have been forthcoming to refute his findings. Iron-carbon-tungsten System.-Gregg,3 in the monograph on Alloys of Iron and Tungsten, accepted the data showing that tungsten decreases the amount of carbon required to form the eutectoid. The influence of tungsten on the eutectoid percentage of carbon as determined by Oberhoffer and Daeves4 is shown in Fig. a; these results have received general approval. Iron-carbon-molybdenum System.-In the monograph on Alloys of Iron and Molybdenum, Gregg5 reviewed the work of Guillet,6 Swinden,7 and Reed,8 all showing that molybdenum lowered the carbon content of the eutectoid, whereas Takei9 contradicted this conclusion. Svetchnikoff and Alferova,10 a little later, showed that large additions of molybdenum shift the eutectoid to the right. These last-named investigators found that molybdenum, up to 1.2 per cent, shifts the pearlite point and the point of maximum solubility of cementite in the gamma phase only slightly in the direction of lower carbon content; on the other hand, increasing amounts of molyb-

Jan 1, 1943

The surface area that mining requires is a minuscule fraction of the total land mass of the United States, according to the US Bureau of Mines' latest report "Land Utilization and Reclamation in the Mining Industry, 1930-71." During the 42-year period from 1930 to 1971, the mining industry utilized 3.65 million acres-only 0.16% of a total 2.27 billion acres of land-and reclaimed 1.46 mil- lion acres, or 40% of what it used. Which leaves, as still unreclaimed, 0.096% of the nation's total land mass.

Jan 10, 1974

By Freeman Bishop

Mercury is the latest ecological disaster. It was believed to be no pollution problem because it is heavier than water and expected to fall to the bottom of streams. But the Food and Drug Administration (FDA) found that mercury in a dozen states and several Canadian provinces was being ingested by fish. A Deadly Dose First to sound the alarm was Canada when a graduate student's research revealed that mercury contamination in Lake St. Clair had reached 1.4 pmm. which is almost three times the 0.5 ppm the FDA's allowable maximum.

Jan 1, 1970

By C. M. Weld

In the course of my professional work in China during the fall of 1907, I had an opportunity to visit the iron-ore mines at Ta-yeh in Hu-pei province (long. 114O 50t E., lat. 30' 20t N.). It occurs to me that a rescript and discussion of my notes taken at that time should be of interest, particularly as supplementing the exceedingly interesting recent paper of Thomas T. Read on The Mineral Production and Resources of China.' Ta-yeh is situated near the right bank of the Yangtze river. The mines are at an average distance of about 16 miles from the river-port Shi-hui-yao, which in turn is some 70 miles SE. of Hankom. The ores are shipped to the works of the Han-Yeh-P'ing Iron & Coal Co. at Hanyang, as also very largely to the Japanese government iron- and steel-works at Wakamatsu, Japan. Smaller qnantities have been exported to the Pacific coast of the United States. These ore-deposits have been briefly noticed in a number of publications, but, so far as I know, Mr. Read's description, in his chapter or1 the iron-ores of the Chinese Empire,2 contains the first attempt to define their geological character. In his more recent paper Mr. Read follows very closely the text of his earlier description. To quote briefly from the recent paper, he says : " The iron-ores at Ta-yeh .... lie along the contact between a marble and an intrusive body of a dark-gray syenitic rock." He refers to a figure which exhibits in plan, but not in section, the relative positions of the syenite, ore-bodies, and limestone. The contact is seen to trend approximately E-W., with the syenite on the north and the limestone on the south. " The syenite lies to the north of the marble, and a few miles farther north the marble again appears, iron-ore again being present along the contact." No litho-

Jan 1, 1913

By Craig S. Hartley

An approximate expression is obtained for the energy of a closed dislocation loop in equi1ibriu)n with a constant net stress. The result obtained is valid for loops in isotropic or anisotropzc materials provided that they are suJficiently large that the energy per unit length of a segment of the loop can be approximated by that of an infinite straight dislocation tangent to the loop. It is shown that this approximation leads to very close agreement with a more rigorous calculation of the elastic energy of a circular glide loop. The Gibbs-Wulff Form, GWF, of a dislocation is the closed planar loop which has the smallest elastic self-energy of all possible loops having the same Burgers vector and enclosing a fixed area, A.' The energy of such a loop is related to the net resolved shear stress* required to expand the loop and to the stress required to activate a Frank-Read source.223 In the following sectiorls the problem of determining the form of the GWF is discussed and an approximate method for calculating its elastic self-energy is presented. It is demonstrated that the approximations employed lead to no serious errors when applied to a calculation of the elastic energy of a circular glide loop. This method is then used to obtain a closed form expression for the energy of GWFs in isotropic and anisotropic materials. THEORY Burton, Frank, and cabrera4 have proved that the relationship of the equilibrium shape of a two-dimensional array of atoms under the influence of the Gibbs free energy associated with unit length of its boundary, G(O), is that the polar plot of G(0) vs 0 is proportional to the pedal of the GWF.* The angle 0 is measured "The pedal of the polar graph ofG(0) vs0 is the envelope of tangents to the eraph.relative to some crystallographic reference direction. The difficulty in applying this result to a closed dislocation loop arises from the self-interaction of the loop. For a dislocation the energy analogous to G(0) is a function of the total configurati~n.~ Consequently the relation which determines the GWF is an integro-differential equation rather than the simple differen- tial equation which results when G(8) is a function of 0 alone. Mitchell and smialek3 and Brown~ have used the self-stress concept introduced by ~rown' to calculate the shapes of dislocations in equilibrium with an applied stress. In this approach the glide force on an element of the dislocation loop due to the interaction of the element with the rest of the loop is equated to the glide force exerted by the local applied stress. The shape of the loop is then adjusted so that the two forces above are equal at all points on the loop. It is possible to calculate the energies of such loops by noting that, for equilibrium with an applied stress, the energy is equal to pijbiAj (summation convention) where bi is the Burgers vector, p.. is the local net stress tensor, and Ai is a vector directed perpendicular to the plane of thd loop with magnitude equal to the area of the loop. Also Brown' has calculated the energy of a hypothetical polygonal GWF using the above technique and anisotropic elasticity. However, his indicated solution for the energy in the general case of an arbitrary GWF is only slightly less involved than an iterative solution of the integrodifferential equation referred to earlier. In the present work the approximation employed by DeWit and Koehler' is used to calculate the energy of a closed loop in equilibrium with an applied stress. That is, the energy of a loop segment, ds, is approximated by the product of ds and the energy per unit length of an infinite, straight dislocation in a cylinder coaxial with the tangent to the loop at the angular position of the segment. This is known as the "line tension" approximation. The inner cutoff radius of the elastic solution defines the core radius, while the outer cutoff radius is determined by some characteristic dimension of the loop. Actually, both of these radii vary with the edge-screw character of the segment. The effective core radius changes because of the orientation dependence of the Peierls width of a dislocation,8 and the outer radius should be the radial distance from the circumference of the loop to the center of symmetry of the area enclosed by the loop.g However, since the energy varies logarithmically with the ratio of these radii while depending directly on the effective elastic constants, only the effect of the latter is considered. This approximation also neglects the self-interaction of the loop segments. For small loops this will doubtless be extremely important, but for large glide loops produced by plastic deformation the self-interaction is not nearly so important in determining the energy of the loop. This point is illustrated by the following calculation of the energy of a circular loop. Consider a circular loop of radius R which lies in the XI - x, plane of an infinite isotropic continuum and whose Burgers vector makes an angle $ with xs. The first-order solution for the elastic self-energy is:'

Jan 1, 1970

By Leo Brewer, Gerd M. Rosenblatt

Thermodynamic calculations predict the species vaporizing from metal-oxide mixtures when reliable free energy functions, enthalpies of formation, and dissociation energies are available for the possible gaseous and condensed oxide components. Calculations of the oxygen to metal ratio in the vapor phase compared with the oxygen to metal ratio in a liquid metal saturated with oxide impurity are presented The possibility of purifying metals contaminated with oxide by vacuum melting or by distillation is discussed. Kinetic considerations affecting rates are neglected. IN recent years extensive information has been obtained on the thermodynamic stability of gaseous oxides of metals due to a variety of new types of measurement. Perhaps the greatest amount of information has come from the application of mass spec-trometry to the study of high-temperature vapors.' In many instances oxides of quite unusual oxidation states are found to be important in the high-temperature vapors. At low temperatures the standard free energy change for a reaction as given by the equation ?F° = ?H° - T?S° is determined primarily by the AH" value. However, at higher temperatures where the value of T in the T?S° term is large, the entropy term becomes equal to or greater than the AH term. At low temperatures only reactions for which AH is negative or only slightly endothermic are of importance. This restricts the main equilibrium species largely to those with completed octets or those with the principle oxidation number of the element. At

Jan 1, 1962

By P. Chiotti, G. R. Kilp

Thermal, metallographic, vapor pressure, and X-ray data were obtained to establish the phase diagram for the zinc-zzrconiz~m system. Five compounds corresponding to the stoi-chiometric formulas ZrZn, ZrZn,, ZrZn,, ZrZn,, and ZrZn14 were observed. All these compounds, with the exception of ZrZn2, which melts congruently at 1180°C under constrained zinc-vapor conditions, undergo pexitectic reactians. The temperature at which the zinc vapor pressure is I atm for a series of alloys was determined from vapor-pressure measurements. The data obtained are summarized in the construction of a I-atm-pressure phase diagram and a phase diagram corresponding to a pressure of less than 10 atm. THE purpose of this investigation was to establish the phase diagram for the zinc-zirconium system. Thermal, metallographic, vapor pressure, and X-ray data were employed in determining the phase regions. Partial investigations of this system have been conducted by Gebhardt1 and Carlson and Borders.' Carlson and Borders studied the high-zirconium region and established the existence of a eutectic at 69 wt pct Zr with a melting point of 1015°C. The terminal phases of the eutectic horizontal were shown to be an intermetallic compound ZrZn and a solid solution of ß zirconium containing 21 wt pct Zn. The ß solid solution decomposes into ZrZn and a zirconium at 750°C. The eutectoid composition is given as 15 wt pct Zn, and the solubility of zinc in a zirconium at temperatures below 750°C is indicated to be negligible. Gebhardt studied the zinc-rich region and observed a lowering of the melting point of zinc from 419.5" to 416°C and temperature horizontals at 545" and970°C. Some preliminary observations by Chiotti, Ratliff, and Kilp were reported by Hayes.2 pietrokowsky3 has reported the compound ZrZn2 to have a cubic MgCu2 structure with ao = 7.396A. MATERIALS AND EXPERIMENTAL PROCEDURES The metals employed in the preparation of alloys were Bunker Hill slab zinc or Baker analyzed reagent granulated zinc, both 99.99 pct pure and hafnium-free iodide-process crystal bar zirconium obtained from the Westinghouse Electric Corp. The zirconium contained 200 ppm Fe, 200 ppm Si, 100 ppm C, and minor amounts of other impurities. The zirconium was milled or machined into thin chips or shavings. These were cleaned with a nitric-hydrofluoric acid solution, rinsed with water, and acetone, and dried just prior to their use in alloy preparation. The granulated zinc was similarly cleaned using dilute nitric or hydrochloric acid. Weighed quantities of these materials, 20 to 30 g total, were mixed and pressed at 20,000 to 70,000 psi to give relatively dense compacts. During the early part of this investigation the pressed compacts were placed in MgO-15 wt pct MgF, crucibles which were then sealed inside of quartz ampules. The compacts were given various prolonged heat treatments prior to their use for thermal analyses, or vapor-pressure measurements. Because of expansion of the compacts and the relatively high zinc vapor pressure it was difficult to heat to the melting temperatures of the alloys without failure of the quartz ampules. Homogenization at temperatures below the melting temperature gave brittle, porous alloys unsuitable for metallographic examination. It was also difficult to prevent condensation and segregation of zinc on the colder parts of the quartz ampules during heating and cooling operations. These problems were eliminated to a great extent by the use of tantalum crucibles. Tantalum proved to be a satisfactory container with little or no reaction between the alloys and the tantalum. Small tantalum thermocouple wells were successfully welded in the bottom of these crucibles. Pressed compacts were sealed inside the tantalum crucibles by welding on preformed caps under an argon atmosphere. Heat treating and differential thermal analysis were combined into a single operation. The experimental sample assembly is shown in Fig. 1. This assembly was enclosed inside a stainless-steel tube heating chamber which could be evacuated and filled with an inert gas. The thermocouple leads were brought out of the heating chamber between two rubber gaskets used to provide a vacuum seal for the water-cooled head. Most of the compounds in this system undergo peritectic decomposition. After heating above the temperature of a particular peritectic horizontal the sample was cooled to just below the peritectic temperature and held at temperature for several hours. The sample was then reheated through the peritectic temperature and the size of the thermal arrest, if still present, compared with the one previously obtained. If the thermal arrest was not characteristic for the alloy composition being investigated its magnitude diminished and repeated cycling and annealing eventually eliminated it. The peritectic thermal arrests characteristic of a particular composition were established in this manner.

Jan 1, 1960

By G. Thodos, R. J. Smialek

A method has been developed that permits the correlations of Mehra and Thodos8 and Dastur and thodos2 for binary systems to be used for the prediction of the vapor-liquid equilibrium constants of the light and heavy constituents, Kland Kh, of a ternary hydrocarbon mixture. Furthermore, the unique relationship observed in this study, i.e., a plot of log Ke/Ki vs log Kp/K h is linear and passes through the origin, permits the calculation of the K-value for the intermediate component. This approach has been used to establish K-values for the constituents of the three ternary hydrocarbon systems used to develop this method and has also been applied to two additional ternary hydrocarbon systems to yield an average deviation of 7.7 per cent resulting from a total of 294 points for the five ternary systems considered. INTRODUCTION The rigorous calculation of vapor-liquid equilibrium constants for systems containing two or more components is a difficult problem and becomes extremely complex at elevated pressures and for conditions approaching the critical point. Although thermodynamic relationships can be developed to account for the vapor-liquid equilibrium behavior of simple systems, their use is limited because the necessary PVT data for these systems are not generally available. To establish a method for calculating K constants directly, without any recourse to the PVT behavior of a system, Mehra and Thodos8 applied the principle of corresponding states to the vapor-liquid equilibrium constants of binary hydrocarbon systems. They developed a series of charts which made possible the prediction of K-values for all binary hydrocarbon systems not containing methane. This work has been extended by Dastur and Thodos2 to include binary hydrocarbon systems containing methane. The charts developed in these two studies cover the high-pressure region and are applicable to conditions in the vicinity of the critical point. The ability of this approach to predict vapor-liquid equilibrium constants of binary hydrocarbon systems suggests that this method may be extended to the prediction of the K-values of the components of ternary hydrocarbon systems. In this investigation, the charts developed for both the methane and non - methane binary systems,2,8 together with mixture rules developed in this study, have been used to predict the K-values of the light and heavy components of a ternary hydrocarbon system. These calculated values are then used to establish the K-value of the intermediate component through the use of a novel relationship developed in the present study. DEVELOPMENT OF METHOD FOR PREDICTING K-VALUES OF TERNARY SYSTEMS The application of the corresponding state charts developed for binary hydrocarbon systems is restricted to those systems containing two components. The extension of these correlations to three-component systems requires that the ternary system be reduced to an equivalent binary, which can be treated in a manner consistent with the corresponding state development. To establish such an approach, the vapor-liquid equilibrium constant of the light component K is first calculated by assuming that the ternary mixture consists of the light component and a pseudo-heavy component of the intermediate and heavy constituents of the original ternary. To establish the vapor-liquid equilibrium constant of the heavy component Kh, the light and intermediate constituents of the ternary are combined to form a pseudo-light component of another equivalent binary system. The calculated values Kl and Kb are then utilized to calculate the vapor-liquid equilibrium constant of the intermediate component EQUILIBRIUM CONSTANT FOR LIGHT COMPONENT K To calculate the K value of the light (most

Jan 1, 1965

By John R. Lotz

DEVELOPMENTS in Iran currently arousing interest in a considerable portion of the world, particularly on the part. of that country's immediate neighbor on the North and in our own country, an inseparably related to and largely dependent upon the government's attempts to strengthen its economy and improve the standard of living of its people. These efforts are encompassed by provisions of the Seven-Year Development Plan recently enacted and not, in the process of implementation. It is a fine example of what one financially sound but extremely backward and poorly equipped country has undertaken to do on its own account and with its own resources. This Seven-Year Plnil was formally authoriztld by an act of the Iranian Parliament in February 1948. Its stated objects are to carry out such plans for the development of the country and its economy as ail1 raise the standard of livinc: and standard of education of the people, and re- duce the cost of living. A seven-yrar program for carrying out the work within the limits of appropriations was assigned under the law. The total amount to be expended during the seven- year period was fixed at the equivalent of $670 millioil at current rates of exchange.

Jan 1, 1950

By Michael Tenenbaum

A REVIEW of process metallurgy of iron and steel during 1944 in many ways reflects the political and military developments of the year. Early in 1944 the tremendous wartime emergency expansion program was virtually completed and the industry directed its efforts to maintaining maximum production wherever needed. The vigorous production programs inaugurated to support the Normandy invasions did not persist as Allied armies approached Germany. General public apathy which developed with the prospect of an early ending of the European fighting was reflected in a general relaxation in armament programs. Toward the end of the year, as the prospect of a prolonged war became real, the entire program revived considerably and the need for steel became acute. Between January 1940 and October 1944 more than 12,400,000 tons had been added to the nation's steelmaking capacities, and over 12,700,000 tons added to the blast-furnace facilities. The total cost of this enormous program was more than two billion dollars. By July 1, 1944, total steelmaking capacity had exceeded 94,000,000 tons, with blast-furnace capacity rated at 68,400,000. Annual steel production, which was 88,900,000 tons in 1943, increased slightly during the past year and was estimated at 89,500,000. Production of pig iron also increased somewhat from 61,800,000 tons in 1943 to an estimated output of 62,500,000 in 1944. This review deals with a few of the numerous factors involved in maintaining the wartime iron and steel program at the level necessary to accomplish this enormous output.

Jan 1, 1945

By Arthur C. Spencer

IN extension of a suggestion already made to account for certain features observed in the Juneau gold-belt in southeastern Alaska,' it is the object of the present paper to indicate in detail certain conditions in which deformation of rocks under their own weight might lead to the production of fractures in which veins could be deposited. A direct, uniformly-distributed pressure of sufficient intensity applied to an elastic brittle mass offering strong resistance to deformation produces rupture. In a material of ideal properties the surfaces of rupture under such pressure would be shearing planes inclined at 45° to the line of force, unless there be preliminary deformation, in which case this angle would be greater than 45°. This general conclusion, resting upon ana¬lytical mechanics, is completely supported by the results obtained by Daubrée in experiments upon the deformation of wax and resin prisms under compression. Let us then first con¬sider one of Daubrée's diagrams. In the case illustrated in Fig. 1, four sets of fractures in two appproximately right-angled pairs (that is to say, in conjugate sets) were produced by end-wise compression of the square cross-sectioned prisms. These fractures cut the axis of compression at approximately equal angles, not varying greatly from 45°. The location of the four sets of fractures is obviously determined by the shape of the prism, since the material in each corner acts in a way as a buttress, permitting the bulging to take place most readily on the sides. By limiting the directions in which bulging may take place, results of a more simple nature could be obtained. Take, for instance, a square prism and place it between two fixed and

Nov 1, 1905

By Frank T. Sisco

The discovery of phosphorous is usually credited to the German alchemist Brand, in 1669, and the element was rediscovered the next year by Boyle in England. IT was more than 100 years later, however, before its presence was detected in high-carbon iron produced in early blast furnaces. In 1781 the German chemist Meyer published the results of his investigation on the ?white earth? that he had found in cast iron made from bog ores. This white earth was metallic in appearance, it was extremely brittle, it was readily fusible, and it was not attracted by magnet. Meyer noted that cast iron containing this white earth was more fusible than other cast iron, and he was sure that he had discovered a new metal ? for which he proposed the name Wassereisen, or the Latin term Hydrosiderum. Two years later the distinguished Swedish Chemist Bergmann made the same discovery, finding a ?white calx? in cast iron, which he also mistakenly considered to be a new metal, and for which he proposed the Siderum.

Jan 1, 1944

By Elizabeth L. Robinson

INTRODUCTION The financial structure of the mining industry has changed strikingly over the last thirty years. The changes that have taken place in the last ten years include both the acceleration of adverse trends in familiar balance sheet numbers and ratios, and the subtle but extensive increase in the complexity and diversity of funding sources, both on and off the balance sheet. The objectives of this paper are: 1. to briefly trace the evolution of trends in the mining industry's financial structure; 2. to focus in more detail on changes in the last decade; and 3. to analyze those trends both within the framework of capital structure theory, and in the context of changes in business and economic conditions. This survey focuses primarily on the mining companies listed on the major U.S. stock exchanges, since financial data for these firms are readily available. The producers of minerals are a diverse lot, however, and the quantitative data on "the mineral industry" as characterized in this survey fails to encompass the financial arrangements for the bulk of production worldwide, whether owned by governments or private-sector enterprises. Even large portions of the U.S. minerals industry - subsidiaries of still larger firms, medium-sized privately-held companies, and the small miners - were not included in the quantitative part of the analysis. THE EVOLUTION OF THE INDUSTRY'S FINANCIAL STRUCTURE In the aftermath of the business failures of the Great Depression, most borrowers and lenders considered minimal debt on the balance sheet the soundest policy. By the 1950's, however, a body of literature was developing which demonstrated that the use of leverage could improve the value of the firm, given a corporate tax structure which allows interest, but not dividends, to be deducted from income. Optimal Capital Structure The objective of undertaking a new project is to improve the wealth of the current owners of the firm. If internally-generated funds are insufficient to allow growth at the desired rate, the company can raise funds either by issuing new equity, or by incurring debt. The most attractive source is the one which will provide the funds for the lowest cost. Both stockholders and lenders expect to receive compensation for use of their funds at a rate which reflects two things: (1) the return they could earn in alternative investments, and (2) the riskiness of the projected return. Factors which increase business risk include the variability of demand, sales prices and input prices, and "operating leverage", or the proportion of fixed to variable costs. In addition, from the investors' point of view, the use of financial leverage concentrates risk onto the shareholders, because lenders enjoy a prior claim in the event of bankruptcy. So although financial leverage can increase a project's expected rate of return, and therefore, presumably, earnings per share, too much debt will be perceived as uncomfortably risky by equity investors, and have a negative effect on stock prices. In theory, then, there should be an optimal level of debt which the firm's managers should seek to obtain in its financial structure. The desirable proportion of debt should in general be lower for a firm with a higher inherent business risk. In addition to their own judgement, financial managers are sensitive to the attitudes of lenders, rating agencies, and investment bankers in setting financial targets (Scott and Johnson). In practice, financial structure will also depend upon the company's growth rate and level of profitability, and conditions in the capital markets at a given time.

Jan 1, 1985

By H. L. Riley, B. W. Gandrud

As far as the present writers know, this system of flotation has not been used elsewhere in this country, but in the last couple of years it has been introduced, with minor variations, at one plant in England and one in Wales. The system has been described and discussed in a number of publications. The following is quoted from an abstract of the latest of these," a paper presented at an International Conference on Industrial Combustion in 1952. On the basis of experience to date with the commercial plants, it is believed that the kerosene-flotation process incorporates all the necessary elements to make it greatly superior to anything else now available for treating of fines in wet processes of coal preparation. Additional study and investigation are still needed, however, to determine if certain phases of the process can be improved to such an extent as to make it generally satisfactory and acceptable to the industry. Further improvements will be needed with respect to the capacities of the flotation cells and the reagent consumption.

Nov 1, 1955