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COUNCIL OF ECONOMICS OF AIME Formerly Mineral Economics Division Established as a Division December 15, 1948 Established as a Council February 26, 1957 Franz R Dykstra, Chairman Paul Schultz, Vice-Chairman A J Phillips, Vice-Chairman Douglas Donald, Vice-Chairman J S Vanick, Contact AIME Director A H Lindley, Jr, Secretary-Treasurer Lehman Brothers 1 William Street New York 4, N Y COUNCIL OF EDUCATION OF AIME Formerly Mineral Industry Education Division Established as a Division January 15, 1932 Established as a Council February 26, 1957 0 Cutler Shepard,Chairman Lysle E Shaffer, Vice-Chairman John C Calhoun, Jr, Past Chairman J C Kinnear, Jr, Contact AIME Director J D Forrester, Secretary-Treasurer College of Mines Univ of Arizona Tucson, Arizona

Jan 1, 1958

By James P. Sloss

MOST students that plan to enter the mining profession attempt to obtain some kind of practical experience before graduation. Six or seven years ago it was an easy matter for undergraduates to find employment during the summer vacation and return to school in the fall filled with enthusiasm to dig deeper into the theoretical field. However, during the past few years it has become extremely difficult for an inexperienced undergraduate to obtain even a menial job in mining. This was the situation which presented itself to the author and his partner, T. M. Patten several months before school closed in May, 1934. At that time, Mr. Patten's training consisted of two years study in Mining, and mine included three years' study in Mining Geology at the Missouri School of Mines and Metallurgy. With this technical training and no practical experience, we conceived the idea that custom assaying in some of the western mining districts should be a lucrative business. We thought that the renewed interest in prospecting for gold and the opening of new mines should provide more assay work, and believed that we might secure it if we were on the spot where the assaying was needed. We realized that it would be out of the question for us to obtain the necessary equipment with which to establish an assay office. Even if such an office were established we had a maximum of but three months during which to operate. So we determined to build some kind of inexpensive equipment that could be placed in an automobile, or trailer, and be moved from one camp to another. We then began to study the theoretical aspects of assaying and started experimental work with the equipment that we proposed to build.

Jan 1, 1935

By H. F. Moore

DURING the last six years, there have been many extensive investigations of the fatigue of metals. The major work of 'these investigations has been the determination of constants for fatigue strength of wrought ferrous metals; but during the past year or two there have become available considerable test data on the fatigue strength of certain nonrferrous metals, including copper, brass, bronze, nickel, copper-nickel alloys, aluminum and aluminum alloys, magnesium and magnesium alloys. It is not proposed to give here extensive quantitative tables of test results; for such tables, reference is made to the published data of various laboratories. The following general conclusions, however, seem to be fairly well established: 1. The phenomenon known as "fatigue" of metal really a progressive fracture of metals. A minute (probably submicroscopic) crack is formed in the metal, the internat stress, is intensified at the ends' of the crack, and under successive applications of load the crack spreads like a minute hacksaw cut until there is not enough sound metal left in the cross-section of the piece to stand the load. applied, and then failure occurs suddenly. 2. For wrought ferrous metals, there is .a limiting intensity of stress (as computed by the ordinary formulas of mechanics of materials) below which, a metal is able to withstand an indefinitely large number of repetitions of stress without failure. This limiting stress is known as the "endurance limit or the fatigue limit.? For reversed flexure, the endurance limit for. wrought ferrous metals is usually not far from 50 per cent. of the ultimate tensile strength.

Jan 1, 1925

By Frederic Dewey

(New York Meeting, February, 1913) This old and well-known method of determining, silver is, in bullion work, so far superior to the furnace-assay that it is looked upon with reverential awe by many, if not by most, users, and its-ease of execution, with proper equipment, commends it highly where much commercial bullion work on silver is required. The method is so thoroughly well known that a, description of it here may seem to be unnecessary, but many thousands of determinations are annually made by it in the U. S. Mint Service and its practice is there reduced to an art. This is necessary both for the sake of economy of time, acid because high-grade work with it requires constant practice. It is useless for a person who uses it only occasionally to expect to attain high accuracy with it, without spending more time upon a determination than is warranted in a busy commercial laboratory. It is always employed in the Mint service whenever possible, but its chief field is in the determination of silver in standard silver (ingots and coin), which is 900 fine in silver and 100 fine in copper, and I shall first briefly outline its use on this metal and then take up various points in detail, especially as related to the accuracy of the results obtained.

Jan 4, 1913

THE twelfth annual meeting of the American Asso-ciation of Petroleum Geologists will be held in Tulsa, Okla., on March 24 to 26, at the Mayo Hotel. The per-sonnel of the committee on arrangements for this meet-ing is as follows : Chairman, M. M. Valerius ; finance, J. H. Gardner; program, Sidney Powers,; publicity, Luther H. White; reception, L. G. Welsh; registration, Frank A. Herald; exhibits, Frank C. Greene; entertain¬ment, Harry H. Nowlan ; ladies' entertainment, T. E. Weirich; golf tournament, A. L. Beekly; hotels, G. C. Potter; transportation, A. W. Duston; banquet, R. Hughes; decoration, V. H. Hughes.

Jan 2, 1927

By AIME

DURING the happy and peaceful years between the Treaty of Versailles and the third New Deal, metallurgy became one of the most cosmopolitan of the sciences. Any metallurgist can name some twenty or thirty scientists whose work, in this country, in England, in Germany, or in France, Sweden, Italy, or Japan was as well known in other parts of the metal-producing and metal using world as it was locally, despite the fact that many of these men never left their native land. One of these metallurgical cosmopolites is Augustus Braun Kinzel, former Chairman of the Iron and Steel Division, A.I.M.E., and now a Director of the Institute. Gus Kinzel, however, is not only a cosmopolite by reputation; he is also a cosmopolite in fact. For many years he commuted at least twice a year between New York and the rest of the world; he is, therefore, not only an expert on the art and science of metallurgy but is equally expert in world travel and can expound with authority on the comparative quality and especially on the cuisine of the great prewar steamship lines; and being a true cosmopolite, he knows, as well as he knows the iron-chromium diagram, the best vintage years in the Gironde, Cote d'Or, and Saone-et-Loire departments in France and along the banks of the Moselle and Rhine in Germany.

Jan 1, 1946

By A. V. De Forest

INSPECTION and test methods of great diversity have been used from the most ancient times to select raw material, control its manufacture, and appraise its finished properties and value. The "miller thumb," expert in grading flour, the vintner's sense of taste, the goldsmith's micro-wear test on a touchstone, the enquiring sniff over the doubtful egg -these are all nondestructive inspection methods, accurate and depend- able, but not readily reduced to numbers in the c.g.s. system. A horse trader inspecting a possible purchase is interested in more than age, size, weight, color. heredity, speed, or drawbar pull which can be reduced to figures. Behavior, temperament, stamina, health-past, present and future---are just as important as the numerically determinate constants.

Jan 1, 1940

By F. R. Hensel

P. R. Kalischer.*—I should like to amplify a little one of the points made by Dr. Hensel, and rather violently disagree with him at the same time. He brought out the point that when the higher forming pressures are used on the green compacts there is a marked decrease in the density as sintered. We found that to be true and, of course, many of you notice that that is true with copper compacts also. But, in my opinion at least, it is not true that the expansion is due to entrapped air. We have vacuum-pressed both silver and copper compacts and obtained almost exactly the same numerical expansion as we secured by pressing in air. The powder, however, that is vacuum-annealed does show a slight decrease in expansion on sintering, but almost the entire increase on expansion can be overcome by very slow rates of heating. And it is our opinion that a majority of the expansion is due to dissolved oxygen in the discrete metal particles themselves rather than to entrapped gases. Another interesting observation that we have made is that often with silver or copper compacts it is desirable to silver solder or braze the compact into some part of a piece of equipment after completing powder metallurgical operations on it. If such a compact is sintered and coined, say a silver compact, given an initial forming pressure of 10 to 15 tons per square inch, and sintered, there is an adequate amount of shrinkage and it can be coined at about 50 or 60 tons per square inch and bring up the density nearly to theoretical. If, then, that compact is silver-soldered into some part of a fixture or a machine, it will expand very beautifully, and the only way that this can be overcome. as far as we know, has been to reanneal after the coining operation at a temperature higher than is to be used in any subsequent operation. In that way, a density very nearly theoretical can be achieved, but the coining operation cannot be carried to the excessively high pressures or expansion and bubbling of the compact will occur again.

Jan 1, 1945

[JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington) D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I- 18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952

This consolidated index covers all publications of the Institute for the years 1926 through 1935. The following list indicates subjects of volumes and gives numbers or abbreviations used to designate them. TRANSACTIONS VOLUME *G26. Petroleum Development and Technology in 1925 (Published in 1926). *G26. Petroleum Development and Technology in 1926. *E27. Institute of Metals Proceedings. 73. Nonferrous Metallurgy, Milling and Concentration, Nonmetallic Minerals, Institute of Metals and Iron and Steel. [ ]

Jan 1, 1936

By J. F. KENP

THE White Knob copper-deposits are situated about three miles south of Mackay, on the Salmon River .branch of the Oregon Short Line Railroad, in Custer county, Idaho. An outline-map of this district is given in Fig. 1. The deposits have been known and spasmodically worked for many years, and a total of over 3.5 miles of tunnels, shafts and other workings has been driven with a view to their development. These extensive excavations have exposed the deposits sufficiently to permit a careful geological examination. The peculiar features which give special interest to this paper are the branching, free-like form of the ore-bodies; the absence of zones of secondary enrichment in the partly oxidized pyritic deposits, and the fact that while the deposits are associated in a general way with the contact of an eruptive rock with limestone, which it penetrates, the garnetization has taken place not in the limestone, as is the usual case, but in the igneous

Mar 1, 1907

By Edwin B. Eckel

This paper, based on brief field examination and on data supplied by the operators, records the condition of the Italian mercury industry as of March 1945, not long after Italy's collapse. Except for the once-Italian but now Yugoslavian Idria mine near Trieste, virtually all the known mercury deposits are in the Monte Amiata district in Siena and Grosseto Provinces, 75 miles north of Rome. This district contains the Abbadia San Salvatore. the Siele. the Argus, and the Cerreto Piano mines besides numerous prospects and unproductive mines. Under pressure from Germany the principal mines were highly productive during the early part of the war, but production fell off long before its end. All of the mines were damaged in some way at the German withdrawal but by September 1944 the Abbadia had resumed production and several others were only lacking power by the early spring of 1945. The Monte Amiata district is characterized geologically by a thick series of sedimentary rocks that range from Triassic to Eocene in age . and are surmounted on Monte Amiata itself by a thick cap of extrusive trachyte. Bodies of travertine and of landslide detritus, younger than the trachyte, are rather widespread. The structure is complex and little known but most of the ore deposits seem to lie along or near a major, north-trending fault or on associated cross-fractures. Cinnabar is the only important ore mineral and clay minerals are by far the most abundant products of hydrothermal alteration. A southward increase in the amount of stibnite, relative to cinnabar, suggests horizontal zoning. The grade of ore ranges from 0.60 to 3.0 Pet and the reserves, as compared with those in American mines, are enormous. Even in the face of war-time scarcities, the mines are remarkably self-sufficient and labor is plentiful, but the costs of production are estimated to be not greatly below those of the better American mines. Notes on the principal mines, on the mining and metallurgical methods, and on the manufacture of synthetic cinnabar are included in the paper. Introduction With but few brief interludes, Spain and Italy, including the Idria mine near Trieste, which has passed from Austrian to Italian to Yugoslavian hands in the Past 3 decades, have led the world in the production of mercury, or quicksilver, for many centuries. Despite their enviable position with respect to the supplies of a metal so essential in both war and peace, there is a notable lack of up-to-date information in America on the mercury industry of either country. Duschak and Schuette' and Schuettez,3 give by far the best summaries in English known to the writer, but the latest firsthand report cited by them on the Italian mines was published in 1915.' Having been deeply interested in the geology and economics of mercury for several years, the writer naturally felt most fortunate in being the to obtain enough firsthand information on the Italian industry to fill at least a few of the gaps in our knowledge. The opportunity came during the war, soon after this industry, together with the rest of Italy, had capitulated to the Allies. Many of the facts presented here are thus definitely "dated," but others are of less transitory nature, and even the dated facts should be of interest in showing the strength and

Jan 1, 1949

By Edwin B. Eckel

This paper, based on brief field examination and on data supplied by the operators, records the condition of the Italian mercury industry as of March 1945, not long after Italy's collapse. Except for the once-Italian but now Yugoslavian Idria mine near Trieste, virtually all the known mercury deposits are in the Monte Amiata district in Siena and Grosseto Provinces, 75 miles north of Rome. This district contains the Abbadia San Salvatore. the Siele. the Argus, and the Cerreto Piano mines besides numerous prospects and unproductive mines. Under pressure from Germany the principal mines were highly productive during the early part of the war, but production fell off long before its end. All of the mines were damaged in some way at the German withdrawal but by September 1944 the Abbadia had resumed production and several others were only lacking power by the early spring of 1945. The Monte Amiata district is characterized geologically by a thick series of sedimentary rocks that range from Triassic to Eocene in age . and are surmounted on Monte Amiata itself by a thick cap of extrusive trachyte. Bodies of travertine and of landslide detritus, younger than the trachyte, are rather widespread. The structure is complex and little known but most of the ore deposits seem to lie along or near a major, north-trending fault or on associated cross-fractures. Cinnabar is the only important ore mineral and clay minerals are by far the most abundant products of hydrothermal alteration. A southward increase in the amount of stibnite, relative to cinnabar, suggests horizontal zoning. The grade of ore ranges from 0.60 to 3.0 Pet and the reserves, as compared with those in American mines, are enormous. Even in the face of war-time scarcities, the mines are remarkably self-sufficient and labor is plentiful, but the costs of production are estimated to be not greatly below those of the better American mines. Notes on the principal mines, on the mining and metallurgical methods, and on the manufacture of synthetic cinnabar are included in the paper. Introduction With but few brief interludes, Spain and Italy, including the Idria mine near Trieste, which has passed from Austrian to Italian to Yugoslavian hands in the Past 3 decades, have led the world in the production of mercury, or quicksilver, for many centuries. Despite their enviable position with respect to the supplies of a metal so essential in both war and peace, there is a notable lack of up-to-date information in America on the mercury industry of either country. Duschak and Schuette' and Schuettez,3 give by far the best summaries in English known to the writer, but the latest firsthand report cited by them on the Italian mines was published in 1915.' Having been deeply interested in the geology and economics of mercury for several years, the writer naturally felt most fortunate in being the to obtain enough firsthand information on the Italian industry to fill at least a few of the gaps in our knowledge. The opportunity came during the war, soon after this industry, together with the rest of Italy, had capitulated to the Allies. Many of the facts presented here are thus definitely "dated," but others are of less transitory nature, and even the dated facts should be of interest in showing the strength and

Jan 1, 1949

By AIME AIME

TO THE AMERICAN MINING CONGRESS. AMERICAN INSTITUTE OE MINING ENGINEERS. MINING AND METALLURGICAL SOCIETY OF AMERICA. The committee that makes this report was appointed at the meeting of the American Mining Congress, at Denver, Colo., in. November, 1906. The appointment had in view the drafting. of a law for the regulation of quarrying and metalliferous mining under the police laws of the States, with the hope that the uniform adoption of such a law could tend to reduce the number of accidents in mining. Since its. appointment, the committee has had' under serious and continuous consideration the matter with which it was charged. At the meetings 0f the American Mining Congress in 19o7, 1908 and 1909, it reported progress. At the meeting in 1909 it was authorized to present its report not only to the American Mining Congress, but also to the American Institute of Mining Engineers and the. Mining and Metallurgical Society of America, and to present its report in printed form during the interim between meetings of the American Mining Congress. The committee collected from the officials of the States of the Union copies of their mining laws. With the assistance of the Engineering and Mining Journal copies of the laws 0f Great Britain, the Transvaal, New South Wales, Victoria, Queensland, Western Australia, Tasmania, New aland, and certain European countries were also obtained. These laws were subjected to careful study. The first publication of the committee was a summary of the more important metalliferous mining laws 0f this country. Upon the basis of the existing laws of the States of the Union, Great Britain, and the English speaking colonies, a tentative draft. was prepared and printed in limited number in 1909, for convenience in securing the advice and criticism of a considerable number 0f persons engaged in the mining industry. In this way valuable suggestions were received. At the request of the chairman of this committee, Mr. Frederick L. Hoffman, statistician of the Prudential Insurance Company, of Newark, N. J., summarized and reviewed the available statistics of fatalities in metalliferous mining in the United States. Mr. Hoffman's report was published in the Engineering and Mining

Jan 10, 1910

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By S. S. PRENZ

Discussion held at the sessions of the Canal Zone meeting, November, 1910. [SECRETARY'S NOTE.-As a result of this discussion, an expression of opinion covering all points of unanimous agreement was adopted and signed by members of the Institute party as individuals. This statement, which was printed in the Bulletin of December, 1910, is reprinted below, as an introduction to ,the detailed report of the discussion. It should be clearly understood that it does not constitute an official declaration by the Institute, the rules of which forbid any such action. At the New Haven meeting of February, 1909, a free discussion of the plan of the canal took place, in which the critics of the present scheme had full opportunity to state their views. That discussion was continued at considerable length in the newspapers ; but the Institute was never committed to either side. In this latter instance, the situation is precisely similar. Certain members and guests of the Institute, having had the advantage of later developments and of personal inspection, have expressed the conclusions at which they have arrived on their own responsibility ; and these conclusions are published by the Institute, subject to further discussion, like any other part of its proceedings. The general statement referred to contained a promise that the full discussion, of which it was a result, would be subsequently printed ; and this promise is fulfilled, so far as practicable, in the subjoined report, concerning which I beg to offer the following explanations: 1. It is made up of the remarks of the members of our party, as subsequently written out and mailed to the Secretary. 2. In editing these contributions, I have condensed the material considerably by cutting out much repetition of opinions and phrases ; and in such excision, I, frankly confess, the authors whose communications were delayed, have been the sufferers. Nevertheless, there is a good deal of repetition left, as there must be, when so many persons had talked so much, and come to agreement upon so many points. 3. It has been found impossible to preserve in this report the actual order of the free and informal oral discussion represented. Consequently the several contributions have been arranged in alphabetical order under the names of their authors. References to "preceding speakers," etc., must therefore be construed as referring to other speakers, preceding or following.-R. W. R.] S. S. PRINZ AUGUST WILHELM, AT SEA, November 14, 1910. We, the undersigned, members and guests of the American Institute of Mining Engineers, after a visit to the Isthmus of Panama, and inspection of the work of the United States Isthmian Canal Commission, and after full discussion of our individual impressions, find ourselves in unanimous agreement as to the following conclusions:

Jan 1, 1911

By A. A. Steel

(Spokane Meeting, September, 1909.) DURING. the summer of 1905 I was employed by the U. S. Geological Survey to investigate the geology, Mining, and preparation of barite in most. of the fields of the United States. The Eastern districts have been more or less completely described ; the Virginia field in detail by Thomas L. Watson, in his paper, Geology of the Virginia Barite-Deposits,' and other fields in abstract., including statistics of production and references to current literature, by various authors .2 There have also been published a few details of the occurrence of barite in the lead-mines of Washington county, Mo.3 The other accounts of this district are erroneous and meager, and since this field is the most important one in the United States at the present time, a detailed description of the local geology seems doubly desirable. Barite-deposits are scattered over nearly the whole of Washington and adjoining counties, but. the product, is all mined from the areas indicated upon the sketch-map, Fig. 1, and is shipped from the stations of the St. Louis, Iron Mountain &. Southern railway, between Blackwell and Potosi, from 45 to 60 miles SW. of St.. Louis. The topography is for the most part gently rolling, with slightly graded streams, usually less than 200 ft. below the higher hill-tops. Along Mineral fork and Indian creek are :some steep bluffs and cliffs, affording good exposures of the

Feb 1, 1910

By W. F. Boericke

WORLD production of silver in 1929 totaled 256 million ounces. In 1928 production was 258 million ounces, and in 1927, 254 million ounces. With an actual decrease in the amount of silver produced last year, as compared with 1928, and an increase over 1927 of less than one per cent, obviously there has been no overproduction of the metal in the popular sense. But the price of silver tells a different story. For 1927, the average quotation was 56.37 cents; it was 58.17 in 1928, and 53.0 in 1929. During the last year it reached a high point of 57 cents in January, and fell steadily, without interruption to the downward trend, to a low of 47 cents in December. Since then it has dropped to an all time low of 43 cents on February 6.

Jan 1, 1930

By R. C. FLEMING

MINING rock asphalt for use as a paving material is an industry which has grown with the spread of the good roads movement. "Mineral Industry During 1930" reports asphaltic pavements constructed, including maintenance and repair but excluding pavement constructed with road-oil, cut-back or emulsified asphalt, as grown from 23 million square yards in 1911 to a high of 144 million in 1927. In 1930 the same source reports 106 million square yards of such paving laid and, in that year, 664,871 tons of native rock asphalt were so utilized. Many states contain rock asphalt deposits of greater or less importance but in only a few places are the de¬posits being mined commercially. In the year cited Ken¬tucky produced 305,024 tons of bituminous sandstone, Texas 270,138 tons, mostly bituminous limestone, while Alabama, Oklahoma, California and Utah produced 89,709 tons of bituminous rock for road construction. In addition Utah produced 37,906 tons of the purer asphaltic products, gilsonite, wurtzilite and ozokerite, for other uses. Speaking generally, the rock asphalt is a sandstone or limestone naturally impregnated with asphalt to an extent that makes it an ideal road surfacing material without mixing or treatment other than crushing. The asphalt content of the commercial product runs 8 to 12 per cent.

Jan 1, 1933