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Jan 1, 1897

By Sydney H. Ball

A QUARTER of a century ago, a pessimistic Belgian financier in conversation with the founder of the Belgian Congo, that great ruler, Leopold II, emphasized the danger to the colony should the synthesis of rubber be discovered. The king replied, "I do not worry. The Congo has had its ivory period; it now has its rubber period. Tomorrow it will have that of its mineral wealth; eventually that of agricultural products." That "tomorrow" arrived some twenty years ago. Through her mines the Belgian Congo has survived the present depression, and her mines for the next decade will safeguard her. The Congo, in turn. is the surest foundation industrially and financially of Belgium itself. In few, if any, political units is mining as dominant as in the Belgian Congo. In 1930, 1931 and 1932 mineral products represented respectively 67.9 per cent. 70.5 per cent and 59.3 per cent, of the total exports. In 1933 for each white person in the colony, there was produced about $1,675 worth of gold, diamonds, copper, tin ore and minor mineral products and in 1930 the per capita production, notwithstanding the larger population, was almost $2,000.

Jan 1, 1934

Succession of Minerals and Temperatures of Formation in Ore Deposits of Magmatic Affiliations BY WALDEMAR LINDGREN (Tech Pub 713 10,000 words ) The paper presents data accepted by many geochemists and geologists regarding the succession of minerals and the temperatures of formation in ore deposits affiliated with igneous rocks It also presents the individual views of the author on the composition of the solutions that were active and on the mode of deposition He does not regard these views as speculations or hypotheses but as forming a well motivated and con¬sistent theory It is not certain, however, that all investigators will subscribe to them The mining engineer may not always be interested in the field of stability and tempera¬ture of origin in the mineralogy of ore deposits, but he certainly is interested in the succession of minerals because this has a definite bearing on the understanding of the ores and on the best processes of extraction The author, therefore, summarizes in plain language the principal features of succession as shown in metallic ores

Jan 1, 1937

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members.) Members and guests who registered at Institute headquarters during the period May 10 to June 10: Rene de Sallier, New York, N. Y. Karl Koelle, San Luis Potosi, Mexico. H. S. Chamberlain, Chattanooga, Tenn. W. A. Wilson, Salt Lake City, Utah. F. R. Pretyman, Oyster Bay, N. Y. P. E. Barbour, Candor, N. C. R. Eustice, South Australia. R. C. Blanchard, London, England. F. C. Darby, South Australia. S. K. Tong, Shanghai, China. Grant H. Tod, Livermore, Cal. W. T. Burns, Great Falls, Mont. J. Murray Clark, Toronto, Canada. F. W. Bacorn, Butte, Mont. J. H. Adams, Birmingham, Ala. H. B. Pulsifer, Chicago, 111. A. Faison Dixon, Encontrador, Venezuela. Dwight E. Woodbridge, Duluth, Minn. C. W. Merrill, San Francisco, Cal. Heinrich Ries, Ithaca, N. Y. Francis Church Lincoln, Boston, Mass. H. L. Slosson, San Francisco, Cal. Frank R. Corwin has severed his connection with the Arizona Copper Co., Clifton, Ariz., and is now shift superintendent at the smelting plant of the Copper Queen Consolidated Mining Co.. Douglas. Ariz.

Jan 7, 1914

By A. Lubinski, C. R. Stewart, K. A. Blenkarn

Storage porosity has been considered one of the important pore geometry characteristics of heterogeneous-porosity limestones. Storage pores are only containers for fluids, in contrast to flow channel pores which both contain fluids and provide continuity for fluid flow. The concept of another geometry characteristic, "poro-striction", is presented as a second pertinent variable in describing limestone pore space. In simple terms, poro-striction is a measure of the flow resistance between storage and flow channel pores. Alternating-flow core-testing theory provides flow relationships which can be used to divide the pore space of heterogeneous-porosity media into flow channel and storage pores and to measure the "porostriction" of the latter. Experimental application of this theory to naturally occurring heterogeneous limestones shows that "porostriction" and the ratio of storage to flow channel pores can be estimated. Porostriction and porosity ratio are microscopic characteristics which should influence oil-recovery efficiencies during certain types of displacement processes. A knowledge of pore geometry should be valuable in designing or selecting the most effective oil-recovery process for heterogeneous limestones containing storage porosity. INTRODUCTION The primary and secondary recovery of oil from limestone (carbonate) reservoirs has been and will continue to be a major source of the world's supply of petroleum. Oil recovery from this type of formation is strongly influenced by the size, shape and arrangement of the pore spaces which hold the formation fluids. Therefore, it is expected that better knowledge of pore geometry would lead to design of more effective recovery processes. The concept of storage and flow channel pores has been presented as an important characteristic of limestone porosity.1 In this concept, storage pores are only containers for fluids, whereas flow channel pores are those pores which both contain and transmit the fluids. The work reported herein involves the concept of an additional pore characteristic called "porostriction". This characteristic can be visualized as the flow resistance between the storage and flow channel pores. This resistance is an important pore geometry characteristic because it determines how easily gas and oil can replenish fluids removed from the flow channel pores. Fatt and co-workers at the U. of California have studied the effect of storage porosity and a factor similar to porostriction on transient-flow response of models of porous media during a pressure build-up or drawdown test.55 These models consisted of porous sandstone cores with artificially simulated storage pores. It is the purpose of this paper to describe tests which permit the storage porosity and porostriction of actual reservoir core samples to be estimated. The tests used for this purpose involved not transient tests but, rather, an alternating-flow technique in which pressure and flow are varied according to a sine-wave relationship. This technique may offer advantages over transient methods. THE POROSTRICTION CONCEPT Before discussing alternating-flow (A.F.) tests in core samples, it is necessary to define the porostriction parameter. For this purpose attention is focused upon an elemental volume v representative of a porous medium having both flow channel pores and restricted-access storage pores. For such an elemental volume, it is considered that the storage porosity is combined to form a single pore and that the access into the storage porosity may be represented by a single capillary tube connecting the single pore to the flow channels of the elemental volume. Let the radius of the capillary tube be designated as Rc and its length as L,. When fluid flows into or out of the pore, the following equation (Poiseuille's law) relates flow rate q to pressure drop p, and the physical characteristics of the tube and the fluid of viscosity jx.

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members) The following is a partial list of members and guests who called at Institute headquarters during the period June 10, 1917, to July 10, 1917. Guy N. Bjorge, Boston, Mass. H. H. Lauer, Allentown, Pa. A. H. Burroughs, Jr., Britannia Beach, E. C. Lee, Pittsburgh, Pa. B. C., Canada. Montrose L. Lee, Port-au-Prince, Hayti. Karl Eilers, New York, N. Y. Eugene McAuliffe, Paducah, Ky. H. S. Emlaw, Grand Haven, Mich. R. H..McMillen, Pittsburgh, Pa. W. R. Hamilton, San Francisco, Cal. L. D. Moore, Providence, R. I. Fred N. Hays, Sharon, Pa. Fred J. Pope, New Rochelle, N. Y. E. Hibbert, Nickelton, Ont., Canada. George S. Rice, Washington, D. C. Charles Janin, San Francisco, Cal. W. G. Swart, Duluth, Minn. Milton A. Allen has resigned his position with the Federal Lead Co. and accepted a position with the Arizona State Bureau of Mines, Tucson, Ariz. L. W. Bahney has resigned as Professor at Yale University and accepted a position as metallurgical engineer with the Scovill Manufacturing Co., Waterbury, Conn.

Jan 8, 1917

By F. S. McNicholas, M. S. Walker, V. C. Rogers

During the year of 1944 and the first half of 1945, the Climax Molybdenum Co. made a study of some of the problems in block and panel caving, with the use of a scale model. The experiments dealt essentially with the type of rock and conditions at Climax, but some experiments were carried out to simulate conditions found in other mines. Most of the previous experiments on the caving characteristics of rock have dealt with sedimentary or broken igneous material. The series of experiments described here was designed to show the caving action of unbroken igneous rock. Con- siderable difficulty was experienced in duplicating unbroken material in the model. The results obtained are believed to be relatively correct, but verification must necessarily come from future mine operation. Observations in the mine and glory hole, together with statistical data, were used as criteria for creating similar conditions in the model. In 1913, George R. Lehman' experimented with broken material in a model for the Inspiration Consolidated Copper Co. and, more recently, P. B. Bucky2 experimented with broken material with a capping of mill tailings. Mr. Lehman's model represented a maximum ore height of 70 ft. capped by 55 ft. of waste. He varied the draw-hole spacing from 6¼ ft. to 8? ft. and 12½ ft. The material used graduated from fines to 30-in. maximum size. Some of his conclusions were: "(I) The less the distance between chute centers, the greater the extraction (Fig. I); (2) the higher the ore column, the greater the extraction; (3) the less the amount drawn at a time from each chute, uniformly, the greater the extraction of clean ore before the capping appeared, but not the greater the total extraction to a I per cent copper final product." (Fig. 2.) Professor Bucky concluded, in part: "(I) Drawing of ore may take place at any time from any finger and in any amount without affecting materially: (a)

Jan 1, 1946

By Wilhelm Borchers

IN all special branches of the chemical and metallurgical industries, in which large electric furnaces became necessary for carrying out new processes or for the improvement of old ones, the development of the electric furnaces took place on much the same lines. The endeavors to make a success of a new idea brought forth many ingenious designs, which, however, almost without exception, furnished the proof that the safest and shortest way to practical success is the utmost simplicity of construction of the necessary apparatus. Our knowledge of the qualities of materials for building electric furnaces and of the constituents of the furnace-charges, especially their electric conductivity and their chemical affinity . towards one another at high temperatures, is still far from being complete, and from this fact we must conclude that the smaller the number of elements in the construction of a furnace, the fewer the number of unreliable factors both in the construction and in the operation of the electric furnace. This conclusion deserves special attention when an electric furnace for making steel has to be chosen from the constantly growing number of inventions, inasmuch as the chief con¬stituent of steel, the element iron, is a substance which in its liquid phase has so great an affinity fir those elements which are to be removed from the charge, that it is very difficult to comply with the following conditions: 1, to beat the refining-slag to the highest point of its chemical activity ; to prevent the iron from entering the slaw, or, where this cannot be done, to make it enter so that it finally appears in the end-product

Jan 1, 1910

The following is an incomplete list of members and guests who called at Institute headquarters during the period July 11, 1918 to August 11, 1918. John Carter Anderson, Tucson, Ariz. Edson S. Pettis, San Francisco, Cal. Lieut. Frank A. Ayer, Tyrone, N. M. Wm. H. Rettie, Yonkers, N. Y. W. R. Canton, McGill, Nev. J. T. Robertson, Port Richmond, S. I. Alden Crankshaw, Palmerton, Pa. Harry O. Robinson, Margarita, John Davenport, W. Norfolk, Va. Venezuela. A. Faison Dickson. C. K. Seng, Gilbert, Minn. F. A. Fahrenwald, Cleveland, C). E. S. Sheffield. L. Hall Goodwin, New York. H. G. Smith. W. H. W. Hamilton, Baker, Ore. Harry M. Spoor. Floyd D. James, St. Louis, Mo. H. H. Stoek, Urbana, Ill. George A. Laird. Arthur L. Tuttle, Copperhill, Tenn. J. W. McBride, Spokane, Wash. Thor Warner, Phoenix, Ariz. Arthur Notman, Bisbee, Ariz. Christopher G. Atwater, Manager Agricultural Dept., The Barrett Co., is in Washington serving the U. S. Navy Bureau of ordnance in connection with the Navy nitrate plant recently authorized by Congress. Edward Ludlam Blossom announces his marriage to Mabel Townsend, daughter of Mr. and Mrs. George Comings Mills, on Wednesday, July 17, 1918, at New York City.

Jan 9, 1918

By W. S. CAYPLESS, H. O. Hofman, E. E. HARRINGTON

1. INTRODUCTION. AT the Lake Superior meeting, September, 1904, Messrs. A. Gibb and R. C. Philp presented a paper entitled " The Constitution of Mattes Produced in Copper Smelting,)' in which they concluded that ferrous and cuprous sulphides formed the chemical compound, 5 Cu2S, fee. They arrived at this inference from the observed fact that a matte containing Cu2S, 90.4, and Fee, 9.6 per cent (or, in round figures, Cu2S, 90, and Fee, 10 per cent.), did not contain any metallic copper, while one with more than 10 per cent of FeS readily dissolved copper, and with less than this amount retained copper in mechanical suspension. Although they determined the melting-points of five mattes containing from 32.6 to 80.1 per cent of copper, they did not draw a freezing-point curve, as the necessary apparatus was not available. A microscopical examination of 11 polished samples, gave them a grayish-black field of very uniform appearance, except that 5 of the specimens showed the presence of metallic copper. The object of the present investigation was to supplement the above paper by drawing the freezing-point curve of the series ferrous sulphide cuprous sulphide, and to see how the constitution could be further, revealed by microscopical work. The results obtained lead to conclusions very different from those of Gibb and Philp. While their paper bears the date 1904, it was published only in 1906.2 In the meantime, Bolles3 had presented his paper, "The Concentration of Gold and Silver in Iron Bottoms." The raw material which formed the basis of the research was a matte containing Fe, 61.68, and Cu, 11.20

Jan 1, 1907

FRIENDS of the late Charles F. Rand presented in 1930 a sum of money from which the income is available to support various phases of the work of the Institute in which Mr. Rand was so deeply interested. At present the fund amounts to $10,400. The specific terms of the deed of gift are as follows: "The fund collected to establish a memorial to the late Charles F. Rand shall be placed in the custody of the Board of Directors of the American Institute of Mining and Metallurgical Engineers, to be set up as a trust to be known as the `Charles F. Rand Foundation,' the income of which shall each year be applied to a distinct purpose to be decided upon in that year by vote of the Board of Directors. This purpose shall be such as to promote the general welfare of the Institute and to constitute a permanent memorial of the usefulness of Mr. Rand, who for many years gave unstintingly of his time and talents in its service. "It shall be within the discretion of the Board of Directors to establish a medal to be known as the Charles F. Rand Memorial Medal to be awarded at such a time and under such rules as may be determined by the Board of Directors, for Distinguished Achievement in Mining Administration." The establishment of this medal was announced at the annual meeting in February, 1932, the term "mining" being defined in its broad sense to include metallurgy and petroleum. Robert Linton is chairman of the Charles F. Rand Foundation Award Committee.

Jan 1, 1944

The following is an incomplete list of members and guests who called at Institute headquarters during the period Jan. 10, 1918 to Feb. 10, 1919. Walter F. E. Barcus. Lt. C. K. McDonald, U. S. N. R. F. Capt. D. H. Bradley, Jr. Major John DeN. Macomb, Bayhead, N. J. Melvis Buigger. - Samuel Melitzer, New York City. Eugene Coste, Calgary, Can. T. C. Merriman, New Haven, Conn. C. W. Cromwell, Warren, Ariz. Wm. J. Millard, Tulsa, Okla. E. O. Daue. Benj. L. Miller, Bethlehem, Pa. Capt. H. W. Edmondson. S. B. Patterson, Jr., Allentown, Pa. E. W. Engelmann, Hayden, Ariz. Lynn L. Pomeroy, New York City. C. Mason Farnham. W. E. Pomeroy, New York City. Lt. C. W. Frith, Salt Lake City, Utah. G. M. Ponton, Ottawa, Ont. John T. Fuller, Honesdale, Pa. Wallace E. Pratt, Ft. Worth, Tex. Walter A. Funk, Idaho Sp., Colo. Harold L. Rau, Milwaukee, Wis. Major W. R. Grunow, New York, N..Y. Lt. E. J. Ristedt, Camp Merritt. A. W. Hackwood, Butte, Mont. George M. Ryall, Los Angeles, Cal. Lt. Nathaniel Herz, New Haven, Conn. D. B. Scott, Mogollon, N. M. Ralph T. Hirsh, New York City., W. H. Staver. O. P. Hood, Washington, D. C. Douglas B. Sterrett, Washington, D. C. E. B. Hopkins, Houston, Tex. J. A. Stewart, Minneapolis, Minn. Hugh C. Ingle, Pensacola, Fla. R. H. Summer, Wilmington, Del. Capt. Wm. F. Jahn. W. G. Swart, Duluth, Minn. Roswell H. -Johnson, Pittsburgh, Pa. Kirby Thomas, New York City. Jesse L. Jones, Pittsburgh. Pa. Capt. H. D. Trounce, San Diego, Cal. Edgar Kidwell, Berkeley, Cal. L. Unger, New York City. .D. H. Ladd, Detroit, Mich. George F. Vivian, Butte, Mont. Raymond B. Ladoo, Cambridge, Mass. R. A. Walter, Reading, Pa. W. H. Landers. Lt. R. G. Wayland, Chehalis, Wash. David Lasner, Elizabeth, N. J. R. J. White, Wallace, Idaho. J. M. Lilligren. J. S. Wroth, Albuquerque, N. M. Lt. Wm. J. Linn, Chicago, Ill. Herbert Hoover, General Pershing, Ambassador William G. Sharp and Admiral William S. Benson were speakers to-day at the annual luncheon in honor of Washington's Birthday, given by the American Club of Paris at the Palais D'Orsay.

Jan 3, 1919

[NORTH AMERICA UNITED STATES ALABAMA ADAMSVILLE U. S. Steel Corp. Neason, James E. ALBERTVILLE Thompson Floral Co. Loudermilk, E. L. ANNISTON No Data Supplied Bonnichsen, Bill BESSEMER U. S. Steel Corp.-TCI Div. Beck, Adolph W., Jr. Boyle, James R. Cofield, William H. *Evans, James D. F., II *Guyton, Jesse C. Johnson, Leland H. Tetley, Albert L. No Data Supplied Crockard, F. H. Fisher, Joe T. Griffin, Joseph M. McFarland, E. A. Mohr, Henry E. Neal, George M. Walker, Wilber D.]

Jan 1, 1961

Arizona ROBERT W. THOMAS, Chairman 'ROBERT W. HUGHES, Vice-Chairman HUBERT O. WOODS, Secretary-Treasurer American Smelting & Refining Co., Hayden, Ariz. FRANK A, WARDLAW, JR., National Director THOMAS C. CHAPMAN P. D. I. HONEYMAN CARL H. COLE JOHN E. LANNING. JOHN H. DAVIS JOHN C. LOVING EDW. G. DENTZER ALBERT MENDELSOHN MORRIS G. FOWLER BRENT N. RICKARD H. C. HENRIECHARLES F. WILLIS Black Hills BANCROFT GORE, Chairman N. P. GOODRICH, First Vice-Chairman C. N. KRAVIG, Second Vice-Chairman C E. SCHMIDT,

Jan 1, 1941

By Milton E. Wadsworth, Edward M. Eyring

BETTER understanding of solid surfaces and their associated adsorption products is of both academic and practical value. The study of detergents and their behavior in cleaning surfaces is fundamentally related to the nature of the products adsorbed and their ability to compete for certain surfaces. Similarly in flotation, the nature of the adsorbate before and after adsorption is basic to clear understanding of the process. The recently developed pellet technique1,2 employing infrared spectroscopy provides a powerful tool for the study of solid surfaces. Absorption bands, which are infrared-active, may be observed for adsorbed products. Also any changes in the surface substrate that occur as a result of adsorption may be detected by means of differential spectra. In applying the pellet technique to solids of large surface area, French and his coworkers3 have surveyed the adsorption of organic flocculants on clay minerals, oleic acid on fluorite, and ammonia on cracking catalysts. Recent work on application of differential infrared spectroscopy to the study of solid surfaces' has demonstrated that the difference between a sample and a reference can be obtained with double-beam instrumentation. In this way displacement of surface products, adsorption of new products, and differences in the substrate, if any, may be detected. Experimental Procedure: Potassium iodide pellets were used in this study, prepared from recrystallized analytical reagent grade KI. Grinding was carried out in a Fisher mechanical agate mortar. Two-gram plates containing the solid under study were pressed in a special evacuated die constructed in the laboratory at the University of Utah." Concentration depended on the solid in question. Zinc sulfide and willemite are sufficiently transpar- ent in the infrared region for concentrations as high as 20 mg of mineral in 2g of KI to be used. Zinc oxide is even more transparent, permitting concentrations as high as 60 mg in a 2-g plate. For non-differential operation, however, much lower concentrations (2 to 10mg/2g KI) had to be used. Spectra were obtained on a Per kin-Elmer 21 double-beam recording infrared spectrophotometer. A sodium chloride prism was used giving a spectral range of approximately 2 to 15 v wave length. For differential runs a resolution of 1000 was used and the scanning speed was controlled commensurate with instrument response. The response was checked continuously and each spectrum was repeated several times. For nondifferential runs a resolution of 927 was used. Zinc oxide used was analytical grade oxide fume. The zinc sulfide was precipitated from solution with analytical grade zinc sulfate and sodium sulfide. The precipitate was washed and centrifuged several times and dried. Before use the precipitate was washed in dilute HCl and then treated with saturated NH4Cl to remove any bulk oxides and sulfates. X-ray patterns of the precipitate were comparable to that of the natural mineral sphalerite. The precipitate was much more satisfactory than finely ground natural ZnS because of its very large surface

Jan 1, 1957

By Edward H. Bzirdick

THE territory under particular consideration in this article comprises portions of La Plata and Montezuma Counties, situated in the southwestern corner of Colorado, and around the base of the La Plata Mountains. (See Fig. 1.) In southeastern Utah and northeastern Arizona there are several mountain systems whose origin and structure are practically identical with the La Platas so that ore occurrences found in the latter can be hopefully looked for in the former. With this assumption, there is an area around the laccolithic ranges which offers promise for a successful exploration for gold ores. Ore occurrences of the Silverton, Telluride, Rico, or Ouray Districts will not be discussed, although in these areas the Mesozoic sediments are more or less involved within the ore-bearing complex. These have been intensively studied and developed. The idea is to set forth what my mining experience has been within the largely unaltered . Mesozoic horizon which remains around the extreme bases of the La Plazas. This, until recent years, has been almost entirely neglected by prospectors and operators and, so far as similar territory in Utah and Arizona is concerned, so remains.

Jan 1, 1934

By J. E. Hilliard

Isobaric sections of the eutectoid region of the iron-carbon phase diagram have been exgerimentally determined at 35, 50, and 65 kb. The phase boundaries were located by metallographic analysis of specimens quenched after equilibriatwn at known temperatures and pressures. With increasing pres -sure a pronounced decrease in the solubility of FesC in austenite was observed together with a depression of the eutectoid temperature. These two effects resulted in a shift of the eutectoid composition toward a lower carbon content; at 65 kb the eutectoid was at less than 0.2 wt pct C. These results are in qualitative agreement with thermodynamic calculations. It has also been shown by calculations that Fe3C in contact with saturated austenite will be stable with respect to both graphite and diamond formation at all pressures above -3.5 kb. 1 HE investigation described in this article was part of a more general study of the effect of high pressure on transformations in Fe-C alloys. Thermodynamic calculations and exploratory runs made in 1959 at the start of the program indicated an appreciable change with pressure in the phase equilibria of Fe-C alloys. However, the calculations were not considered reliable enought to provide the quantitative information required for the interpretation of the effect of pressure on the kinetics of transformations. An experimental investigation was therefore made to determine a series of isobaric sections of the eutectoid region of the phase diagram at pressures up to 65 kb. EXPERIMENTAL PROCEDURE Materials. Seven alloys with analyzed carbon contents of 0.10, 0.20, 0.38, 0.60, 0.77, 0.93, and 1.20 wt pct C were prepared from Ferrovac" iron and high-purity graphite induction melted in magnesia crucibles under argon. The ingots were hot worked and swaged down to 0.19-in.-diam rod which was then centerless ground to a final diameter of 0.125 in. Samples for chemical and spectrographic analyses were taken from each end of the rods. The prin- cipal impurities were found to be Ni, Al, Co, and Si which were present in amounts up to 0.03, 0.02, 0.01, and 0.01 wt pct, respectively. Specimens were prepared by slicing the ground rods into pills 0.06-in. thick which were silver plated to reduce decarburization during the equilibration. Silver was chosen for this purpose because of its very low solubility for carbon and its mutual immisicibility with iron. High-Pressure Apparatus. The high-pressure runs were carried out in the "Belt" apparatus.' As shown in Fig. 1, this consisted of a cylindrical cell compressed between two Carboloy punches loaded by a uniaxle press. Radial support to the cell was given by the "belt" which was a Carboloy die heavily prestressed by a series of steel binding rings. Laminated gaskets of lava and metal separated the punches from the inner surface of the "belt". A cross-section of the high-pressure cell is shown in Fig. 2. Two specimen pills were located inside a resistance heater of 0.20-in.-diam Nichrome tubing. The ends of the tube were sealed with alumina and lava pills tamped in place after the

Jan 1, 1963

Truman H. Aldrich John H. Allen W. Lawrence Austin W. S. Ayres John Henry Banks Wm de L. Benedict Robert Bentley Andrew A Blair Walter M. Brodie

Jan 1, 1934

By J. B. DILWORTA

Ix estimating the investment-value of a mining-property or plant, the value of which decreases with operation, it is often necessary to know the sum which must be set aside periodically from earnings either to renew the plant at the end off its life, or to return the capital involved when the earning-power of the investment has ceased. In such cases it is manifestly incorrect simply to divide the total amount to be retired by the number of periods (usually years) during which the investment shall be active, as the sums periodically withdrawn have a certain interest-earning power varying with the length of time they are held and with the opportunities afforded for their investment. But though the interest may be considered to accumulate regularly year by year, yet the rules and tables for compound interest do not apply, owing to the addition of a fixed amount of new money to the total at the beginning of each period. Briefly stated, the problem of sinking-funds is, to find the amount of money which must be periodically set aside at a certain rate of interest, regularly compounded, to yield a certain sum in a given, length of time. In most practical cases the interest is compounded and the fresh amount added at the same time-usually once a year-and on this basis the problem may be solved as follows

Nov 1, 1909

By S. H. Chauvenet

HARRISBURG is situated on the Pennsylvania Railroad, one hundred and five miles from Philadelphia, two hundred and forty-eight miles from Pittsburgh, and ninety miles from Baltimore, and has running through it the Pennsylvania, Northern Central, Philadelphia and Reading, and Cumberland Valley Railroads, and the Pennsylvania Canal. Surrounded by a thickly settled farming country, from which to draw native labor, within easy distance of anthracite and bituminous coal, with ores and limestone near at hand, and with the Susquehanna River as a never-failing water supply, Harrisburg has advantages for manufacturing which warrant the investment of the capital that has already been made, and has a future as a manufacturing city second only to Pittsburgh and Philadelphia. THE PENNSYLVANIA STEEL COMPANY, L. S. BENT, SUPERINTENDENT. The works of this company, the largest in Harrisburg, lie between the Pennsylvania and the Philadelphia and Reading Railroads, on. the Pennsylvania Canal, and are essentially devoted to the manufacture of Bessemer steel rails. Capital stock, $2,000,000; invested in business, $5,000,000; wages per month, $80,000; employs 2000 men; capacity, 100,000 tons of rails per year, which is being increased to 130,000 tons. The plant, as it now stands, comprises five Bessemer converters, two 7-ton and three 8-ton converters, two 15-ton open-hearth furnaces in operation, and two 30-ton open-hearth furnaces in course of construction, one blooming mill, one rail mill, seven steam hammers, two blast furnaces in operation, two blast furnaces in course of construction, foundry, pattern $hop, machine shop, blacksmith shop, and frog shop, and merchant mill in course of construction. Bessemer No. 1 was built in 1865, with two 7-ton converters, 2 spiegel cupolas, 3 feet diameter, and 3 iron cupolas 6' 6" diameter,

Jan 1, 1882