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By R. G. Bradburn

The events which led to computer control of the grinding circuit at Brenda Mines are described, beginning with mill operating philosophy. High production rates are encouraged so that, despite severe upstream disturbances, a manual control method to meet this philosophy had developed. Unfortunately, due to the time interval between manual control adjustments, losses in production resulted. An analog control method was devised and, although superior to manual control in some situations, was found to suffer from several practical limitations. The data logging capabilities of a control computer seemed warranted. Circuit test- work combined with an analysis of operating data showed that (1) metallurgical personnel, at times could increase production rates by as much as 10 percent over that achieved by grinding operators, (2) the chosen data base required an increase of 2 percent or more to be statistically significant and (3) for a 2 percent increase there would be a significant rate of return of investment in a computer installation, Consequently one grinding circuit was fully instrumented, and a rented control computer was installed by Brenda personnel. Prior to installation, Brenda metallurgical and instrumentation personnel were trained in the use of the computer. An experimental program was devised with short and long term objectives. The short term objective was to develop a practical control strategy which would yield immediate production improvement. This goal has been met as described in this paper. Statistically significant increases in excess of 2 percent have been established. Work is being completed for the permanent installation of computer control on all four grinding circuits at the present time. Long term objectives are (1) off line analysis of the circuit using mathematical models of process units, (2) on line experiments to study alternative contol tactics, and (3) possible expansion of computer facilities to the crushing plant.

Jan 1, 1976

By Ray A. Rothrock

The in situ mining of uranium is the process whereby chemical lixiviant is injected by means of wells into, and flowed through, an ore body. The lixiviant reacts with uranium which has been previously oxidized making the uranium soluble. The solution is then brought to the surface by means of producing wells. In situ mining disturbs the ground-water quality in the immediate area. Since ground water is a natural resource used by man, care must be taken not to allow the lixiviant to escape the local mining area. Also, when the ore body is mined out, the area should be restored to as near its original state as is reasonably achievable. The return of ground-water quality to its original state can occur naturally over a long period of time or be enhanced using appropriate technological means.

Jan 1, 1981

By Roger N. Miller

Talc mining in Vermont has in recent years undergone a progressive change in mining methods and in mining equipment. Underground mines have been phased out except in special circum- stances, and continuous mining machines (CMM?s) have replaced conventional drill/blast mining systems. Talc mining in Vermont began in the late 1800?s, and has continued without interruption to date. Beneficiation (flotation) has been applied since the early 1930?s, and has provided special products for toiletries and other markets. At the present time, there are two active companies that have evolved from the cumulative absorption of nearly ten smaller operations.

Jan 1, 1984

By William H. Pomroy

The potential for large-scale fires in underground fuel storage and fuel transfer areas prompted the Bureau of Mines to study fire hazards in these areas and devise improved fire safety technology for use in these areas. This report describes the Bureau's research to characterize and quantify fire hazards in fuel storage and fuel transfer areas, develop guidelines for safe and efficient fueling system design, prepare specifications for automatic fire sensing and suppression systems for these areas, test prototype systems in the laboratory and in underground mines, and perform cost-effectiveness evaluations of the devised technology.

Jan 1, 1985

By P. R. Thomas

This paper addresses the relative long-term cost and resource position of new and existing ferrochromium production in selected Market Economy Countries (MEC'S). The market impact of new ferrochromium production in nations such as India and the Philippines and the continuing change in international trading patterns are also evaluated. This paper draws upon the data and analyses of a recent Bureau of Mines, Department of Interior, Minerals Availability Program appraisal that evaluated the cost and availability of chromite and ferrochromium production from the demonstrated resources of 80 producing or potential mining operations in 10 market economy countries.

Jan 1, 1984

By E. M. Frizzell

It is unlikely that improvement in truck efficiency and capacity can fully offset the effects of inflation, fuel cost/shortages, and increasing haul distances as in the past. Therefore, investigations of haulage systems less sensitive to these problems are warranted. Thus, this Bureau of Mines contract research study on alternative continuous haulage systems was prepared. This study identifies the physical, economic, and technological parameters in the application of continuous haulage systems with special attention to under pit slope conveyors and skip hoisting systems. The evaluation data were gathered from extensive literature searches, European/North American mine visits, and industry comments. The study concludes that continuous underground haulage is a viable method within the proper geometric configurations.

Jan 1, 1979

By William Marsh Baldwin

[Two of the most useful and important equations available to the metallurgist for the study of plastic deformation of metals are the Huber-von Mises-Hencky1-3 and the St. Venant7-10 equations. HUBER-VON MISES-HENCKY EQUATION The Huber-von Mises-Hencky equation answers the question: When does plastic flow occur in metal that is subjected to a multi-axial stress? It occurs, according to this equation, when the three principal stresses,? al, a2, and a3 satisfy the equation: (s1 - s2)2 + (s 2 - s 3)2 + (s 1 ? s3)2 = 2K2 [I] Here K is the yield strength of the material as determined in an ordinary tensile test. If the quantities a1, a2, and a3 are assigned to the coordinates of a Cartesian three-dimensional system, this expression describes a cylinder whose axis of symmetry is inclined at equal angles to the three coordinate axes4,5 (Fig. I). The radius of this cylinder is v2/3K. For the purpose of simplicity, it is sometimes advantageous to ascribe the values s 1/K = si, s 2/K = s2, s 2/K = s3 to the three coordinate axes instead of the principal stress alone. In this case, Eq. I becomes (s1 - S2)2 + (S2 - S3)2 + (Sl - S3)2 = 2 [2] and the radius of the cylinder becomes 2/3v. In the latter method of representation, a point lying inside the cylinder indicates that the metal will react elastically, whereas a point lying on the cylindrical surface indicates that the metal will behave plastically. Some of the geometric features of this cylinder are worthy of study. Let us inquire first as to what interpretation may be placed upon what we will choose to call the "circles of latitude" of the cylinder (L in Fig. I) and the "meridians" of the cylinder (M in Fig. I). Circles of Latitude Circles of latitude are formed by allowing a plane, passing perpendicular to the cylinder axis, to intersect with the cylinder. Any point, P, on this circle is presumed to have the coordinates s1, s2, and s3. The coordinates of the point resulting from the intersection of the plane and the cylinder axis will be a, a, and a (since the cylinder axis is equally inclined to the three coordi¬nate axes). Let us now pass a line through the point on the circle and the point on the axis.]

Jan 1, 1946

By D. Van Winkle, C. Zener, H. Nielsen

THe internal friction of metals has been studied frequently at elevated temperatures.1-4 In most cases it rises rapidly with increasing temperature. The notable exceptions are ferromagnetic materials, and lead.2 This paper describes an investigation of the general features of the high-temperature internal friction of 70-30 alpha brass. Experimental Method The internal friction of a metal is a measure of the rate at which it dissipates energy of vibration. The measure adopted here, I/Q, is (I/2p) times the specific damping capacity, a measure commonly used by engineers. In the measurements of this investigation, the stress level was kept so low that the observations were independent of the stress, The general method of making such measurements, and of observing temperature of a specimen during a measurement, has been described.5.6 The driver and detector coils were wound with wire insulated with glass thread, in order to withstand the high temperatures used. In previous work electrical eddy currents in the specimen served as the coupling between the mechanical vibration of the specimen and the electrical circuits of the driver and detector. The high values of the internal friction in the present investigation rendered this coupling insufficient. In order to increase this coupling, pole pieces cut from ordinary telephone diaphragms were attached to the specimen. A mixture of French chalk and water glass proved a satisfactory cement. All measurements were made at the fundamental frequency for transverse vibration, which lay between 600 and goo cycles per second. Specimens The measurements described herein were made upon a single cylindrical rod of brass, kindly furnished by Dr. Cyril Stanley Smith, of the American Brass Co. This rod was the specimen E of the set of alpha-brass rods described in an earlier paper.6 Successively larger grain sizes were obtained by annealing at .successively higher temperatures. A slice was cut off one end after each set of measurements. Grain counts were made on each slice by W. E. Lindlief, of the American Brass Co. Nine fields were viewed on each piece, located as shown in Fig. I. Results are given in Table I. The grain size is defined in the usual way; namely, Grain size = I/n1/2 where n is the mean number of grains per square millimeter. Experimental Results This paper is concerned exclusively with the part of the internal friction that be. comes dominant at high temperatures. It is thus desirable to separate this part of the internal friction from the part that is

Jan 1, 1942

By C. Zener, H. Nielsen, D. Van Winkle

THe internal friction of metals has been studied frequently at elevated temperatures.1-4 In most cases it rises rapidly with increasing temperature. The notable exceptions are ferromagnetic materials, and lead.2 This paper describes an investigation of the general features of the high-temperature internal friction of 70-30 alpha brass. Experimental Method The internal friction of a metal is a measure of the rate at which it dissipates energy of vibration. The measure adopted here, I/Q, is (I/2p) times the specific damping capacity, a measure commonly used by engineers. In the measurements of this investigation, the stress level was kept so low that the observations were independent of the stress, The general method of making such measurements, and of observing temperature of a specimen during a measurement, has been described.5.6 The driver and detector coils were wound with wire insulated with glass thread, in order to withstand the high temperatures used. In previous work electrical eddy currents in the specimen served as the coupling between the mechanical vibration of the specimen and the electrical circuits of the driver and detector. The high values of the internal friction in the present investigation rendered this coupling insufficient. In order to increase this coupling, pole pieces cut from ordinary telephone diaphragms were attached to the specimen. A mixture of French chalk and water glass proved a satisfactory cement. All measurements were made at the fundamental frequency for transverse vibration, which lay between 600 and goo cycles per second. Specimens The measurements described herein were made upon a single cylindrical rod of brass, kindly furnished by Dr. Cyril Stanley Smith, of the American Brass Co. This rod was the specimen E of the set of alpha-brass rods described in an earlier paper.6 Successively larger grain sizes were obtained by annealing at .successively higher temperatures. A slice was cut off one end after each set of measurements. Grain counts were made on each slice by W. E. Lindlief, of the American Brass Co. Nine fields were viewed on each piece, located as shown in Fig. I. Results are given in Table I. The grain size is defined in the usual way; namely, Grain size = I/n1/2 where n is the mean number of grains per square millimeter. Experimental Results This paper is concerned exclusively with the part of the internal friction that be. comes dominant at high temperatures. It is thus desirable to separate this part of the internal friction from the part that is

Jan 1, 1942

By C. Zener, H. Nielsen, D. Van Winkle

THE internal friction of metals has been studied frequently at elevated temperatures.1-4 In most cases it rises rapidly with increasing temperature. The notable exceptions are ferromagnetic materials, and lead.2 This paper describes an investigation of the general features of the high-temperature internal friction of 70-30 alpha brass. EXPERIMENTAL METHOD The internal friction of a metal is a measure of the rate at which it dissipates energy of vibration. The measure adopted here, I/Q, is (I/2p) times the specific damping capacity, a measure commonly used by engineers. In the measurements of this investigation, the stress level was kept so low that the observations were independent of the stress. The general method of making such measurements, and of observing the temperature of the specimen during a measurement, has been described elsewhere.5,6 The driver and detector coils were wound with wire insulated with glass thread, in order to withstand the high temperatures used. In previous work electrical eddy currents in the specimen served as the coupling between the mechanical vibration of the specimen and the electrical circuits of the driver and detector. The high values of the internal friction in the present investigation rendered this coupling insufficient. In order to increase this coupling, pole pieces cut from ordinary telephone diaphragms were attached to the specimen. A mixture of French chalk and water glass proved a satisfactory cement. All measurements were made at the fundamental frequency for transverse vibration, which lay between 600 and 900 cycles per second. SPECIMENS The measurements described herein were made upon a single cylindrical rod of brass, kindly furnished by Dr. Cyril Stanley Smith, of the American Brass Co. This rod was the specimen E of the set of alphabrass rods described in an earlier paper.6 Successively larger grain sizes were obtained by annealing at successively higher temperatures. A slice was cut off one end after each set of measurements. Grain counts were made on each slice by W. E. Lindlief, of the American Brass Co. Nine fields were viewed on each piece, located as shown in Fig. I. Results are given in Table I. The grain size is defined in the usual way; namely, Grain size = I/n ½ where n is the mean number of grains per square millimeter. EXPERIMENTAL RESULTS This paper is concerned exclusively with the part of the internal friction that becomes dominant at high temperatures. It is thus desirable to separate this part of the internal friction from the part that is

Jan 1, 1942

By W. Hurst

What is entailed here is the extension of the sinzplified material balance formulas to encompass interference between oil fields. As previously reported, the ex-plicitness as so revealed for the cunzulative pressure drop as a function of all factors contributing to its change in the material balance equation, is now transcribed through the inter-conzmunicating aquifer to effect an increased pressure drop on an adjoining field by interference. Such is performed by mathematical analyses and the application of the Laplace transformations. What is accomplished is that the reiteration problems previously associated with interference studies are nullified, since volumetric changes for the fluids in situ are automatically adjusted by the explicitness so expressed, and what pertains to the superposition principle applies only to the impeded water drive upon a su.bject field, which is likewise incorporated in the over-all pressure drop that results. The mathematics treats with the rigorous solution of the problem, as well as with methods easily amenable to numerical interpretation by the practicing engineer. In all cases, however, what is deduced for areal extents, reveal interference between wells when time becomes large that further substantiate the analyses. Probably of equal significance, all variables and for/nation characteristics are accounted for. This applies to the differences in PVT analyses that occur from field to field and the physical parameters associated with the lithology of the reservoirs. The latter is deduced from a rigorous interpretation of the unsteady-state flow problem for sands of different permeabilities in series. Thus, what purports to be a trial-and-error calculation to include variations in sand conditions within the intercommunicating aquifer to define water drive has little importance compared to the designation of such paranzeters at the reservoir to constitute the essential criteria. INTRODUCTION In a recent publication, the reader has been introduced to the simplified material balance formulas,' It has been shown that the complexities formerly associated for identifying and determining reservoir pressure in the material balance relationship can be resolved by treating with the Laplace transformations, the inversion of which reveals pressure as an explicit function of all factors contributing to its change. For an under saturated oil reservoir, this constitutes an integrated effect from the inception of production; and for a saturated oil reservoir, such represents a survey traverse. However, what is most important, for the first time we are able to express the pressure change in a reservoir directly to the oil, gas and water produced, and to the physical parameters of the formation, in the same manner that reservoir pressure has served in the past to define well interference — which opens up this avenue of endeavor for investigating interference between oil fields. The occurrence of interference is by virtue of the juxtaposition of two or more oil reservoirs producing in the same aquifer. Thus, in any one field, the extended production so incurred creates a pressure lowering in the field, as well as in the aquifer, which can now be transcribed by these simplified material balance formulas to the adjoining reservoir to observe the increased pressure change so induced. These effects are retroactive from field to field, to reveal a pressure drop far in excess of normal depletion to evidence the interference pattern that can result. Such is the purpose for the present undertaking — to develop the mathematical physics treating with this phenomenon of interference between oil fields, employing the simplified material balance formulas. Since Ref. 1 often will be referred to in the text, it is identified as "The Simplification", in the same connotation that another paper has been referred to as the "Laplace Trans-formation. However, the amount of material to be covered in these passages is substantial; therefore, the total emphasis will be placed upon developing these fundamental ideas treating with interference rather than attempting to offer work curves, which always can be prepared. For the practical application of these simplified material balance formulas that form the framework of the present development, the reader will find a comprehensive treatment in the Appendix of Ref. 1, illustrating a factual field example. In essence, what is proposed by this presentation is to make available to the practicing engineer a simplified means to treat with interference between oil fields, independent of the complex machine computations that have attended such undertakings in the past. As the problem unfolds, a common pattern will be discernible, whereby the many reiteration processes that previously required computing devices are eliminated.

By Philip C. Good

The Bureau of Mines investigated the feasibility of utilizing low-grade phosphatic shale as a feed for phosphoric acid production. Present practice in the phosphate mining operations of southeastern Idaho is to remove and either stockpile or waste low-grade phosphatic shales as the high-grade phosphate beds are selectively mined. Acid digestion studies were performed on uncalcined shale and on shale calcined to remove free carbon to determine phosphoric acid quality, yield, and amenability to filtration. The untreated shale, containing 21.4 pct P205, was digested with sulfuric acid in a single-tank reactor to yield phosporic acid and gypsum residue. Although 96 pct P205 recovery was attained in digesting uncalcined shale, only the calcined product gave satisfactory filtration rates. Calcined shale yielded phosphoric acid recovery of about 93 pct of the contained P205. It was higher in impurities than commercially prepared acid derived from high-grade western phosphate rock. An acid filtration rate of 745 lb P205/ft2/day was attained. This value is lower than the rate of 900 lb P205/ft that is generally considered to be acceptable in industrial production of phosphoric acid from high-grade phosphate rock.

Jan 1, 1981

By Lorne Sivertson, Peter Kitrredge

"World metallurgical coal imports totalled 110million tonnes in 1978. Of this amount, Japan imported 50 million tonnes, making it by far the largest and most important coking coal market . British Columbia and Alberta exported 12.0 million tonnes of coking coal in 1978, or 11% of the world total. Virtually all of these exports were directed to Japan, making up 22% of total imports.Some observers have suggested that because Japan is almost the exclusive buyer of British Columbia and Alberta metallurgical coal, the benefits of the coal trade may be primarily on the side of the powerful Japanese buyers. Buttressing this suspicion is the fact that Japanese trading companies have taken substantial equity positions in B.C. coal mines, thus presenting the possibility of non-arms-Iength transfer arrangements. There is then at least some evidence to support the hypothesis that Canada's western coal producers receive prices that are less than would prevail in a more competitive market; that is, that they are exploited.This paper produces evidence that Canada's coals are not underpriced in respect to U.S. and world markets. The conclusion is drawn that British Columbia and Alberta metallurgical coals receive prices that are equal to prices known to be competitively determined. This conclusion follows an in-depth analysis of prices, coal qualities and the economic characteristics of all major coals traded in the Japanese market. A by-product of the analysis is an equation capable of predicting the value of any metallurgical coal sold to Japanese buyers, or, for that matter, any buyer. Hopefully, this can be of some use to coal producers in developing their marketing strategies."

Jan 1, 1980

By Irving Kabik

Chlorates and perchlorates, when mixed with certain reducing materials, may give a detonating explosive of considerable power. Concerning explosive chlorate mixtures, Guttman3/ states that they "have at all times fascinated inventors on account of the large amount of oxygen stored up in potassium chlorate, which can be given off so readily. When Lavoiser and Berthollet tried to make a chlorate powder in a stamp mill in 1788, they made a great show of it, and even two ladies were present. Unfortunately, after a certain amount of pounding the powder exploded and killed an official and the daughter of the Government commissary, who assisted at the experiments.***. It is interesting to observe how the same old mixtures are proposed over and over again with slight alterations only, in order to qualify for a patent. Potassium chlorate with some carbonaceous matter like charcoal, sugar, starch, glycerin, flour, or sometimes a vegetable or mineral oil and the like occurs again and again." Sprengel explosives, in which some of the undesirable sensitivity of the chlorate was minimized by coating the crystals with a liquid reducing agent, received some attention after a patent was issued to Dr. Herman Sprengel in England in 1871.4/ A somewhat similar explosive, known as Rack-a-

Jan 1, 1945

By George W. Friesen

This paper presents the historical trend and de- fines the causes of drilling cost escalation in the Gulf of Mexico during the 1970's. The three major components of escalation are: 1) inflation, 2) supply-demand imbalance (demand pull) and 3) decreases in drilling efficiency. The decade was divided into three periods. During each period one component of escalation was responsible for most of the rise in costs. From 1970 through 1973 only inflation pushed costs upward. During 1974 and 1975 a supply- demand imbalance caused most of the escalation. Since 1975, decreases in drilling efficiency have produced the major component of escalation. During any one year or period of years, the sum of the three components will give the total escalation rate. The reasons why different components contribute more toward escalation during certain years than others are shown by following the timing of oil and gas price increases, the overall quality of the acreage offered each year in offshore lease sales and the resulting drilling activity.

Jan 1, 1982

By W. Petruk

"D. Doyle How large is the beam to which you referred? Are we considering Watts, Griffis the probe of a 1 micron sized particle?& McOuatReply Yes. The beam would be about 1 micron. We could enlarge or reduce it depending on the current in-put.D. Doyle Then chemically bound material we might not see. If you are restricted to 1 micron then you would not be able to separate things smaller than this. Is this not so?Reply We won't be able to analyse it but we will see it as the scanning electron microscope has a resolution down to about 0.1 microns. We should be able to get the general composition of such a grain plus its surrounding grains. We feel we can then make a reasonable estimate if it were as small as 0.1 microns. An accurate analysis would be achieved with grains of 3 and 4 microns.D. Doyle Would this have an application in the hydrocarbon field?Reply The lowest atomic number would be sodium. We wouldn't be able to go below that atomic number. Anything with sodiumor a larger atomic number would enable us to analyse the carbon.M. Fairwether Do you have any policy relating to priorities. For instance areCominco companies going to be limited in the amout of samples permitted to give everyone a chance because quite frankly our company, and I'm sure all base metals companies can hardly wait for the installation of this equipment. I can forsee two years back-log of work in the first month.Reply Quite frankly, I haven't looked at this. At the present time the work is under the START program but I suppose we will have to look at possible changes. Anything under the START program has first line priority.B. Thorndycraft Will the briquetting of samples be automated as well? Pinson MiningReply No, not at this point. Our polish section laboratory is first-class and can turn out 18 polish sections a day which is more thar we can handle.B. Thorndycraft With the capability of this machine to operate in a hands-off manner perhaps it could start to look for the 5 micron gold particle in tailings?Reply I have such a program using a wave-length spectrometer rather than the energy dispersive. The wave-length spectometer is about 10 times as sensitive and would scan the section much faster. A one inch diameter polished section would be scanned in about 7 hours for anything 1 micron or larger."

Jan 1, 1984

By Rolando Campos

The CODELCO-CHILE Teniente Converter Technology, is presently being applied in four Chilean smelters (Caletones, Chuquicamata, Potrerillos and ENAMI-Ventanas). A Teniente Converter is due to be used at ENAMI-Hernan Videla Lira (Paipote) smelter in the near future. Also, a Teniente Converter is to be installed as part of a retrofit project for Nkana smelter of Zambia Consolidated Copper Mines Ltd. (ZCCM). The charge to be treated through this smelter will consist of a blend of concentrate arisings from the various concentrators within the ZCCM group. The present status on the application of the Teniente Converter Technology at Caletones smelter as well as its projected performance when used at Nkana smelter, are presented in this paper. The design operational basis, autogenous smelting throughputs, concentrate to matte ratios and benefits due to the use of technical oxygen, are presented and analysed.

Jan 1, 1992

By Steve Axen

In situ mining is now considered an alternative mining method for some ore bodies. The in situ operation consists of a well field designed from reservoir properties and geological information; the wells for such a field are then drilled, cased, and cemented, using good designs and practices to eliminate future problems. Injection and production (recovery) systems are required to be corrosion resistant. Hand in hand with the mining operation is the metal extraction plant, the entire operation offering an environmentally acceptable method for metal recovery. Great opportunity exists in this field for mineral engineers; presently, they must borrow knowledge from other fields, since the schools have not yet addressed this specialty.

Jan 1, 1979

By H. V. Makar

The Bureau of Mines successfully demonstrated, on a pilot plant scale, a sodium sulfate (Na2S04) refining process for removal of copper from molten ferrous scrap. Previous tests established technical feasibility on a bench scale for achieving low copper concentrations and determining the principal factors controlling process efficiency. The pilot plant study involved a 1-ton arc furnace for melting ferrous scrap and a 1-1/2-ton treatment ladle. Results of these tests showed that copper removals obtained in laboratory tests (approximately 40 relative percent copper removal with 10 weight-percent surface addition of sodium sulfate) could be achieved on the pilot plant scale when excess carbon was added with the sodium sulfate compacts. Data were obtained on temperature losses and carbon consumption related to Na2SO4 treatment.

Jan 1, 1974

By O. W. Ellis

Introduction During the month of September, 1928 enough money had. been promised by private individuals and corporations to comply with the Research ?Foundation Act 1928 (Chapter 57, 18 George V) of the Province of Ontario. The Ontario Research Foundation (referred to below as O.R.F.) may be said to 1iave come into being at that time. Under the terms of this Act, the Treasurer of the Province was empowered to match dollar for dollar of the sums subscribed by private .corporations and individuals up to a limit of $1,000,000. However, the response to the appeal for this by the Premier of the Province, the Honourable Mr. G. Howard Ferg uson, was so exceptional that the Act was amended in 1929 so as to empower the Treasurer to increase the maximum contribution on the part of the Province to $2,500,000. In March, 1933, the Chairman of the Foundation, Sir Joseph Flaville, Bart., was able to report that, in the interval between the Premier's appeal and December 1st, 1932, private enterprise had paid ?into the treasury of the Foundation $1,670,050, and that the Provincial Treasurer had assumed responsibility for a like sum. The endownment Fund of the Foundation was, therefore. $3,340,100. This sum was ?invested a lm~ s t entirely in Government securities, in securities guar. anteed by the Government, and in 1mmicipal securities. Sir Joseph Flavelle remarked at that time that "The payment of $1,670,050 to the Endowment of the Foundation by private persons and corporations is a somewhat remarkable performance when it is remembered that for three of the five years the business of the country has been suffering from a severe depression". Since that time it has been the consistent policy of O.R.F. to live within the income derived (1) from the investment of its Endowment Fund and (2) from fees collected for services rendered.

Jan 1, 1950