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By Arthur Knapp

The petroleum industry is confronted with the problem of conservalion. This is not a simple problem in view of a wide difference of opinion among authorities as to whether conservation is necessary and the specific direction that it should take. Many writers accuse the petroleum industry of wasting the natural resources of the country. Others link the consuming public with the industry in this waste. Let us define our terms; agree, if possible, on where and when waste occurs in connection with either the recovery or use of petroleum and select such plans for conservation as appear most practical. A plan for conserv3tion which appears to be logical today may not meet the problem tomorrow. The conservation of petroleum is closely linked with the advancement of marly arts and sciences and as these advance, the plan of conservation has to change. The need for conservation does not necessarily rest upon the elimination of waste. There is not necessarily a fixed connection between waste and conservation. Conservation may be necessary or desirable although there is no waste. Definitions Waste: Useless or unnecessary expenditure. Conservation: The preservation of the natural resources for economical use. Both definitions contain adjectives the interpretation of which is extremely difficult. It is the determination of what expenditures are "unnecessary" or what uses are "economical" that will require study and agreement. If one lets his automobile engine run in cold weather in order to keep it hot, it is difficult to measure that necessity. If an automobile is driven two blocks, when the driver is physically capable of walking, what is the measure of necessity. This question is in the realm of one of the oldest of sociological problems, "What is a luxury?"—a problem which has not been solved. The history of society indicates that the measure of a man's wealth has been the measure of necessity. What he can afford to buy without stinting himself in some other direction, is not a luxury to him and, if it fulfills his desires, may be considered his necessity.

Jan 1, 1927

By J. Henry Harden

I desire to call the attention of the Institute to a new form of drawing-board trestle. With the ordinary four-legged trestle, commonly used, one has not the means of adjusting the height of the board to the draughtsman. To obviate this inconvenience, and at the same time to enable one to incline the board, I have devised an arrangement of curved and straight slots and thumb-screws, by means of which the hoard can be raised three or more inches, and placed at any desired angle of inclination on either side. Figures 2, 3 (Plate I) show side and end elevations of the trestle for a single board, and Figure 4 for two boards. The latter form is adapted for use in schools, or where it is desired to economize space.

By J. Henry Harden

I DESIRE to call the attention of the Institute to a new form of drawing-board trestle. With the ordinary four-legged trestle, commonly used, one has not the means of adjusting the height of the board to the draughtsman. To obviate this inconvenience, and at the same time to enable one to incline the board, I have devised an arrangement of curved and straight slots and thumb-screws, by means of which the board can be raised three or more inches, and placed at any desired angle of inclination on either side. Figures 2, 3 (Plate I) show side and end elevations of the trestle for a single board, and Figure 4 for two boards. The latter form is adapted for use in schools, or where it is desired to economize space.

Jan 1, 1874

By AIME AIME

The history of development of oil and gas areas in the Kirkuk field. Iraq, from the commencement of drilling in 1928 to the end of 1945. is set forth in Table I. The production of the Kirkuk field from the commencement of the use of the Iraq Mediterranean pipe line to the end of 1945 is listed at the end of Table I.

Jan 1, 1946

By Persifor Frazer

I DESIRE to say that, owing to the number of papers which have been more or less crowded at this session of the Institute, and the fact that, as one of the Local Committee, I have the distinguished honor to feel somewhat like one of the hosts, I should not tax the patience of members at this late hour, but would have my paper read by title were it in any way possible to do this. But the task I have set myself this evening is to present to the eyes of the members of the Institute certain objects which have occupied more or less of my time during the last eighteen months or two years. The objects I allude to are some of the igneous rocks of this country, which, until quite recently, have been less understood than any others. It will be well known to some of the members that some of the cooled lavas of a previous age of our planet, when not directly coarsely crystalline and granular, were considered and spoken of as " natural glasses," or perfectly uncrystalline, vitreous, or hyaline masses of matter. Among the first results of the use of the microscope was the dispersion of this fallacy. Sir David Brewster, Mr. H. C. Sorby, and William Nichol (the discoverer of the celebrated calcite prism, which bears his name), had, with greater or less success, examined sections of various rocks and minerals, both by transmitted and reflected light, and also in the form of powder. But, until the genius of Vogelsang undertook the subject, these investigations had no permanent value, nor did they constitute an independent line of mineralogical and geological research. Since the close of his labors, by Vogelgang's premature and much-lamented death, the subject has been made one of renewed interest by his brother-in-law, Ferdinand Zirkel, as well as by Rosenbusch, Tschermak, and many others abroad, and at home by the commencement of a systematic study of the traps of Connecticut by Messrs. E. D. Dana and G. W. Hawes, of New Haven, and by the splendid set of described sections of the traps of the West which have been furnished by Zirkel to illustrate Clarence King's report. I had the honor of presenting a large number of thin sections of our traps at the Washington meeting, for the inspection of the mem¬bers, with the aid of a table microscope belonging to the Smithsonian Institution. Here I propose to project these sections upon the

Jan 1, 1877

J. B. MCGRAW, New York, N. Y. (written discussion*).-In Mr. Burke Baker's description of the process of the American Briquet Co., he speaks only of the attractive features, but every process which uses a compound or emulsified binder has certain undesirable features which must be considered. In making an emulsion, the success of which depends upon the introduction of the various ingredients at certain fixed temperatures and the complete intermixing of a soluble solution with an oil which has absolutely no affinity for it, considerable difficulty is found in keeping the various factors in strict accordance with the formula. To serve its purpose properly or, in other words, to be right for easy mixing with the coal, it should be of a certain predetermined density. Among the controlling factors of this ate the proportion of moisture contained and the temperature of the oil when introduced. If the latter is higher than intended, a greater proportion of moisture will be evaporated than is proper, and if the oil is not sufficiently hot the process of emulsification is retarded. These various factors can be controlled with more or less certainty where working in a laboratory or in a small experimental way, but when it is attempted on a large commercial scale, certain obstacles not otherwise apparent are likely to be encountered.

Jan 5, 1918

By Arthur F. Taggart

In 1900, Elmore found that if an acidulated pulp was stirred up with an oil which was relatively insoluble in and lighter than water, and the mixture was allowed to stratify, much of the sulfide would be found hanging to the lower surface of the floating body of oil and could be skimmed off or overflowed with it. The action of the flotation agent here is twofold, first to select the sulfide from the gangue—what today is called collection—and second, to buoy the collected sulfide away from the gangue. The action in collecting is illustrated by Fig. 1: which contrasts the behavior of drops of oil brought, under water, to the surfaces of gangue and sulfide particles, respectively. The oil displaces water from the surface of the sulfide; the water displaces oil from the gangue surface. If, instead of considering the solid particles the fixed parts of the system of oil, water and solids. we consider the oil and water fixed and the solids presented to the surface of contact, the condition will be as shown in Fig. 2; the sulfide tends to be drawn into the interface and the gangue to be excluded. The sulfide particles are held in the oil-water surface by the tension of this surface. The buoyant effect is supplied by the oil droplets in bringing the sulfides to the water surface, but not in holding them there. Gas as Buoyant Medium of Flotation In 1906 Sulman. Picard and Ballot discovered a practical and substantially fool-proof method of doing what Everson, in 1886, and Fro-nlcnt. DeBavay Bessel and Elmore had been doing in the intervening years, viz.: using gas in place of oil as the buoyant medium for flotation, but retaining oil as the agent. To all of these inventors "oil," with no qualification as to its kind and no true understanding of its function, was the important thing. Hut they placed on the oil an additional burden viz.: froth-making, and it soon became apparent that not all oils were suitable for the dual purpose. As a matter of fact, it is probable that each of these inventors knew only one suitable oil at the time he wrote his patent, but used the generic term in the patent with the usual idea

Jan 1, 1928

The following paragraph of appreciation of the Engineering Societies Employment Bureau is from the letter of a young engineer who found the Bureau of service. "I wish to sincerely thank you for the services rendered. They are of immense value to anyone located as I am, in a small town without the opportunities for keeping in touch with openings in manufacturing lines."

Jan 12, 1919

I AM sure, that you understand that of all the things created by the most high God Himself or by Nature at His command, not one-even though it be an atom or the smallest worm-has been produced without some particular gift. And if we do not always discern this in every thing, the cause lies in our defective vision, in our little knowledge, and in our lack of careful thought concerning the necessity of seeking hidden things. Certainly those things that have such inner powers, like herbs, fruits, roots, animals, precious stones, metals, or other stones, can be understood only through oft-repeated experience. [37] Others do not need so much knowledge and belief for their, powers are obvious and shown to us at all times by their effects. They reveal themselves to us through the sense of sight by their splendor and variety of colors, through the sense of smell by their odors, through the sense of hearing by the melody of the harmonious or unpleasantly discordant repercussions. of the air. They likewise manifest themselves by. their softness or harshness. As you see, all those things, according to. their limits, are conveyed .by the ordinary senses to the mind, by whose distinctions all their species, both harmful and beneficial, are discerned. Then they are reviewed by the judgment in all their degrees of perfection and imperfection, so that whoever seeks them with careful study or with experience often finds them. Now, in order to shorten this discourse, since I wished to speak to you of lodestone and its properties, I tell you that it is one of those things that show their apparent effects to our sight by a particular virtue hidden in such a way that its cause, as far as I know, has never been known to the very wise natural speculators who have spoken on every other subject. Thus one who considers its actions carefully must surely marvel, for it appears that Nature has put into this stone a certain spirit of vivacity, so that it seems to have-I would like to say-hands, although they are not seen. For I see that it not only attracts iron but also takes hold of it and keeps it attached to itself. This action is certainly great enough to bear certain witness to the virtues possessed by other created things that do not manifest their powers to the external senses. In order not to prolong this discussion, I tell you the following. This stone is found in various places and of different colors and properties. The

Jan 1, 1942

By G. M. Ritcey, A. W. Ashbrook, E. G. Joe

Solvent-in-pulp extraction of uranium from acid leach slurries of flotation concentrates is described. Solvent extraction was carried out in a 10 in. diam pulsed-plate column. The extractant was a 0.1 M tertiary amine (General Mills Alamine 336) in a kerosene diluent containing isodecanol as an emulsion suppressor and third phase inhibitor. In pilot plant operation at the Beaverlodge mill of Eldorado Mining and Refining, Ltd., slurry feeds containing up to 35% solids were processed at a throughput rate of 13.5 tpd of dry feed. Uranium extraction obtained was as high as 98%. Amine losses to the raffinate were approximately 0.07 lb amine per ton of original dry feed. The Beaverlodge Mill of Eldorado Mining and Refining employs a carbonate leach for the extraction of uranium from the ore.',' Prior to carbonate leaching sulphides are removed by flotation to reduce reagent consumption. This flotation concentrate containing some uranium is then leached with sulfuric acid, filtered, and the uranium precipitated with magnesium hydroxide. The precipitate is then returned to the carbonate leach circuit. Although the tonnage of flotation concentrate treated by acid leaching is low, reagent costs are relatively high. Also maintenance costs on the acid leach filtration circuit were beginning to show significant increases. The choice of solvent extraction-in-pulp as an alternative to the present circuit was influenced by the following factors: 1) elimination of acid pulp filtration, 2) increase in overall recovery because of soluble loss elimination, 3) reduction of reagent cost (mill sodium carbonate solutions are used as strip), and 4) production of higher purity precipitate at the mill site. Because a solvent-in-pulp process would be difficult to test on a bench-scale, the Eldorado experience in the use of pulse columns,3-5 mixer-settlers,6 and solvent-in-pulp operations in particular7 was applied directly to the initial pilot plant carried out during the summer of 1965 and followed by the second pilot plant in 1966. The latter work, which is presented in this paper, determined the following factors for anticipated scale-up to plant production: 1) overall uranium recovery by this process, 2) tonnage throughput expected, and 3) solvent losses anticipated for the full-scale plant. The equipment used consisted of a 10 in. diam extraction pulse column and three mixer-settlers for scrubbing, stripping, and acid equilibration. All equipment was designed by Eldorado and much of the pilot plant was built at the mill site. PROCESS CHEMISTRY Feed to the acid leach plant consists of a sulphide flotation1,2 concentrate containing mainly pyrite, uranium and graphite, with a particle size of 90%

Jan 1, 1968

INTRODUCTION It has been impossible for the student, the practicing engineer, and the geologist to find all of the essential elements of mineral appraisal and mineral economic analysis in a single text. Indeed, the most recent texts on mine evaluation are over 20 years old. Many of the basic principles of mine sampling and evaluation have not changed over the ensuing years, but with the advent of the digital computer the entire scope of mineral evaluation has been expanded to encompass superior techniques that heretofore were not possible when using manual methods. The old manual methods for ore reserve computations and the techniques for assignment of area of influence to drill-hole samples are now as antiquated as the Model-T Ford. With the computer making possible solutions that had not been practicable in terms of time and effort, it is important for the practicing explorationist and mining engineer to understand many of the new concepts and principles that can be applied with the resolving power of the computer. Many practicing mineral industry professionals have been disappointed by certain computer programs and thus have some reservations about computers being able to solve their very real problems. Often the gap between the practicing engineer and the ivory tower theoretician applying modern computer techniques is too broad to be bridged with scattered, fragmented publications. PURPOSE AND SCOPE OF TEXT It is the intent of this book to update and to unify a great many scattered reference works used in the mineral industry today. The ensuing pages are addressed both to the professional already working in the mineral industry who needs information on computerized methods as well as to the serious student seeking to grasp the fundamentals and modern techniques of mineral appraisal and feasibility. These techniques are based on sound mathematical principles and theory, with the computer as a tool-but a very essential tool-for the solution of the problems involved. The computer can be of value only if it is programmed by those having sufficient expertise to use its inherent problem-solving capability, and the output is interpreted by those who are sufficiently acquainted with its operation to understand the data it produces. In the pages that follow the author intends to outline in considerable detail all the essen-

Jan 1, 1980

By Joseph A. Holmes

(Pittsburg Meeting, March, 1910.) AT the Mining Experiment Station of the U. S. Geological Survey, in Pittsburg, an investigation of the process of combustion is being carried on in a specially-designed furnace having an unusually long combustion-chamber. This work is conducted by a committee consisting of H. Kreisinger, mechanical engineer; Dr. J. C. W. Frazer, chemist; and Dr. J. K. Clement, physicist. The problem, essentially one of physical chemistry, is extremely interesting to all who are concerned in the burning of coal or the construction of furnaces. The main object of these experiments is to ascertain the relation between the amount of the volatile combustible driven from the coal and the combustion-spaces necessary to burn it completely. Our best steam-coals vary from 15 to 45 per cent. of fixed combustible. The greater part of the latter is burned on the grate; but the volatile combustible leaves the freshly-charged coal and must be burned in the combustion-space. If this space is not large enough, the volatile combustible will leave the furnace only partly burned, and the result will be a considerable heat-loss and a smoky stack. Strictly speaking, the factor which determines the completeness of combustion of the volatile matter, after it has been mixed with a certain amount of air, is the length of time the mixture is allowed to remain in the combustion-space; but this length of time depends on the extent of the space itself. Let us suppose, for instance, that, when a given coal is burned at a certain standard rate, the volume of the volatile combustible driven off per second is 10 cu. ft. Adding, say, 10 cu. ft. of air, the volume of the resulting burning mixture is increased to 20 cu. ft. If the combustion-space is 20 cu. ft., the burning mixture will stay in it,

May 1, 1910

Continued discussion of the paper of R. W. Raymond, presented at the Cleveland meeting, October, 1912, and printed in Bulletin. No. 70, October, 1912, pp. 1111 to 1122. See also discussion printed in Bulletin No. 74, February, 1913, pp. 319 to 329. R. B. BRINSMADE, Puebla, Puebla., Mexico (communication to the Secretary *) :-Though I heartily approve of several minor points emphasized by Dr. Raymond (such as the general desirability of local administration, rather than Federal, and the evils inseparable from the Federal Apex Law), I feel obliged to dissent from his four final propositions. As Dr. G. 0. Smith has already discussed these propositions from the standpoint of the experience of other countries, I shall base my criticism upon certain general economic principles, which will be grouped under the following five topics: 1. The dual theory of property. 2. The essential factors in fixing prices. 3. The relation of land ownership to the distribution of wealth. 4. The relation of land ownership to speculation and development. 5. The relation of land ownership to the political power. I shall give here only a brief outline of these topics, as they are fully treated in the standard treatises on political economy.1

Jan 5, 1913

By W. R. Ingalls

MANY years ago, I expressed the opinion, in writings and otherwise, that it was possible to desulfurize zinc blende autogenously, i.e., without the use of extraneous fuel, and that at some time this would be accomplished. This opinion was based on thermal calculations and also on observations of the behavior of blende during roasting in different ways, all of which observations tended to confirm the theoretical calculations. Among such observations were things like the following: Once in carrying out the stall roast of cupriferous pyrites as a regular metal-lurgical operation, I was minded to charge a stall with lump blende, ranging from walnut to egg size, as I recollect, following the same procedure as with pyrites, and setting fire to the kindling wood, observe what would happen. The blende charge ignited well enough and bravely began to burn, quite actively the first day, at a diminished rate the second day, while on the third day burning ceased and the charge quickly became cold. It was just like trying to set a grate full of anthracite afire with insufficient kindling wood. The volume of air drawn through the stall was too great, quickly cooling the entire contents below the ignition temperature, which means, of course, that burning ceased.

Jan 12, 1922

By Carl Henrich

I have read with particular interest that portion of the discussion by Anton Eilers referring to the high-lime (and also high-alumina) slags made by August Raht in 1881, while smelting the Horn Silver ores at Franklin, Utah. The two analyses of such slags, furnished by Mr. Raht to Mr. Eilers are: (a) Not determined in this analysis. (b) Not given in Mr. Eilers' paper. Oxygen ratio, A1 as base. I. 0 in acid: O in base:: 18.1:18.9:: 0.96:1 11. 0 in acid :O in base:: 18.7:17.5::1.06:1 Average: 18.4:18.15=1.01:l Oxygen ratio, AI as acid. I. O in acid: O in base: :23.2:13.8:: 1.68:1 11. O in acid: O in base::23.1:13.5:: 1.76:1 Average: 23.15:13.4 = 1.73:l By assigning to alumina the the of a base, Mr. Eilers deduces the formula 3Feo.-2SiOa + 4Cao.2SiO². The nearest approach to a simple formula expressing the average composition of these slags, which I can figure, is 9RO.Al2O3.6SiO2. Allowing a ratio of 4Feo : 5Cao, we have for this formula:

Jan 1, 1917

By Albert L. Toenges

C. P. HEINER*—I would like to ask Mr. Toenges about the highest rank coal. I did not get that clearly. What kind of coal is that? A. L. TOENGES (author's reply)— The coal in the Matanuska field ranges from high volatile "B" bituminus to anthracite. It all depends on which direction you go in the Matanuska field. C. P. HEINER—Is it a large reserve. A. L. TOENGES—That is what we hope. That is what we are trying to find out. B. W. DYER*—In those strip beds, I wonder how far back the coal would weather ? A. L. TOENGES—I never noticed particularly. B. W. DYER—The weathering does not extend back like it does in this country ? A. L. TOENGES—No, it does not. B. W. DYER—Is that due to the freezing ? A. L. TOENGES—Probably so. B. W. DYER—In this country, you would expect nothing but weathered coal. R. H. SWALLOW*—Along that line, you mentioned some of the seams were on fire. Did you ever know how far back they burned, or was it hard to tell ? A. L. TOENGES—The fires occurred in the mine. That one you refer to was from an inside fire.

Jan 1, 1950

By F. C. Stanford

The work of an engineer is to direct natural forces so that the: bring about the results that he wishes to secure. Heretofore he ha concerned himself chiefly with physical forces and inanimate objects until he has secured a truly marvelous degree of control over them The great problem of the present age is to secure a like degree of know1 edge and control of the human factor. Progress has already been made along this line, but it is only a beginning. Wilhelm Ostwald says tha scientific knowledge enables a man to be a true prophet; but it must be remembered that a good many people do not seem to be able to main tain a high average in prophecy. In short, 'the average of knowledge is not equal to the average needs of the present time, but continually fails to keep pace with it. It has been aptly said that the really essentia need of the period is for more brains; if we only had sufficient knowledg and sagacity we could not only solve all difficulties, but prevent then from arising. This generalization holds good for an industrial organization. Th most vital need of the management is for more brains. The logica course for an engineer in charge of an industrial organization is, therefore to direct whatever forces may be at his command toward the development training, and guiding of all the brains in his organization. This is easie said than done, for it involves the carrying on toward two objective: the maximum of productive work, and the development of the individual who perform it. This is essentially like the rebuilding and enlarging of plant, keeping it in full operation the while. On the other hand, if th aim is merely for maximum production from an organization, withou offering opportunity for development, the final outcome will necessari be like that of a plant that is driven at full capacity without stoppin for repairs or improvements; it eventually becomes so run down th either a complete rebuilding is necessary or else it has to be abandone

Jan 1, 1918

By H. W. Hitzrot

THE new 4800-ton fine-grinding plant at the Hollinger Consolidated Gold Mines property at Timmins, in the Porcupine district of northern Ontario, went into operation in November 1937, and represents the culmination of an experimental program. The plant is a moderately low rectangular building of hollow tile on a steel frame, large enough to house four 7 by 15-ft. ball mills, with a 12 by 27-ft. classifier beside each mill. At one end is space for the addition of another mill and classifier or a mill and classifier for the regrinding of table concentrates. This regrinding is now done in the old grinding department of the main mill building. Also within the new building are the four 6-in. sand pumps for lifting the product from the low-dis- charge ball mills up to the classifier feed launders and the containers and appurtenances of a complete dust-collecting system. Together with the usual overhead crane, these constitute the major units of equipment within the new plant. The location is at the lower end of the main mill buildings toward the old tailings pond, now so neatly leveled off and sodded to rival the very best of our own W.P.A. projects. Close by the new grinding plant is a large dome-shaped structure-the new fine-ore bin designed arid built by Mr. Longmore and the Hollinger milling and engineering staffs. There are four separate automatically loaded inclined belt conveyors leading up from the bottom of the bin to the grinding plant. Each belt is equipped with a recording weightometer, in the grinding building. The whole structure and the machinery within it give the impression of permanence and a carefully integrated design with close attention to details, giving the operators every advantage for consistently good work. The many ideas and opinions behind this achievement were all ably organized and executed by the Hollinger milling and engineering staffs, anti not a few were directly initiated by them. Excellent cooperation was afforded by the Hollinger staff to the engineers helping to conduct the grinding and classification test program. It was the author's privilege

Jan 1, 1939

By T. A. Dungan

THE thermal processes for the production of metallic magnesium can be divided into two general classifications, the direct reduction of magnesia with carbon and the indirect reduction of compounds of magnesium by reducing agents that are themselves products of carbon reduction. The latter are so chosen as to cause reduction of magnesium compounds wherein only the magnesium is liberated in the vapor phase. Reducing agents used are: calcium carbide, silicon carbide, silicon, aluminum, various silicides or combinations of calcium, aluminum, silicon in iron. All of these are products of highly endothermic reactions and, with the exception of scrap aluminum, can be produced in an open, submerged arc furnace; that is, the arc is covered only by the charge itself. The more investment in energy required to prepare such a reducing agent, the less is the energy required in the subsequent step to reduce the magnesium compound to the metal. It is impossible, however, to avoid the laws of thermodynamics, no matter how much circumambulation is resorted to in the preparation of successively more powerful reducing agents. Since each such step carries forward its own inefficiencies, it appears evident that the ultimate status of such processes is dependent upon the development of by-products. EARLY EXPERIMENTS IN DIRECT REDUCTION The direct reduction of magnesium oxide by carbon has a decided appeal to both the scientist and the industrialist. The successful production of the carbothermic plant at Permanente is a significant fact in the substantiation of this concept. Like most developments, however, the history of carbon reduction of magnesia is not one of triumph after triumph, or immediate heady success to the investigators. It is understood that one of the early investigators conducted an experiment wherein he placed carbon and magnesia in one end of an evacuated tube and managed to heat this end to a temperature high enough that magnesia and carbon deposited at the other end of the tube. The charge, unreduced, appeared to have been completely transported from the hot to the cold end of the tube. This raised doubt for some time as to whether magnesia could be reduced at all with carbon. It was correctly suspected, however, that the magnesia was in fact reduced and the resultant magnesium vapor and carbon monoxide reacted upon one another upon reduction in temperature to reform the starting ingredients. Attempts were then made to dilute the two vapors by passing a considerable stream of hydrogen through an arc furnace charged with magnesia and carbon. Thus by dilution of the products it was expected to obtain metallic magnesium. The results were positive and metallic magnesium was

Jan 1, 1944

By Francis Cameron

Mining is both exciting and rewarding-although at times somewhat frustrating-and we all can have real pride in our industry, in its people, and in its accomplishments. It is, however, with concern that I have noted a deterioration in this Country in what might be called mining's stature and in the growth of a belief in many quarters that our mineral reserves are rapidly approaching exhaustion. In other words, there is a popular image that we are fast becoming a "have not" nation in many respects and that the domestic mining industry can no longer be considered, in the vernacular of Wall Street, to offer much in the way of "growth potential." I do not subscribe to this hypothesis, nor do I believe that the record of the mining industry bears this out. However, let me add that we can, in time, talk ourselves into this frame of mind and we can hasten the day when this very well might come about by unnecessary and unwise legislation or regulation. My remarks today are basically designed to give my reasons for refuting this negative philosophy and to review our record. With your help, I know we can improve our image, and the public's recognition of our industry's peculiar problems.

Jan 4, 1968