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Jan 1, 1942

Jan 1, 1900

Jan 1, 1901

Jan 1, 1942

Jan 1, 1942

Jan 1, 1943

THE COMMITTEE, appointed early in May, met and organized in Washington, May 9, 1923, and were then advised that such data as they required would as far as obtainable be submitted to them in tabulations, and that they could not be allowed to see the individual reports nor know the identity of the operators on whose reports the figures submitted were based, therefore the Committee's valuation is based on data received from your statisticians, and on tonnages estimated by your staff and by the United States Geological Survey. Various methods of valuation for mining properties have been suggested, but all authorities seem to agree in accepting, as the fairest and most practicable and logical, a capitalization of the estimated future earnings, when such estimate can reasonably be made. Hoover and Finlay both emphasize this. The United States Supreme Court says in Cleveland, Cincinnati, Chicago & St. Louis Railway Co., v. Backus, 154 U. S. 439: But the value of the property results from the use to which it is put and varies with the profitableness of that use, present and prospective, actual and anticipated. There is no pecuniary value outside of that which results from such use. The amount and profitable character of such use determines the value. The Committee on Federal Taxation of the American Institute of Mining and Metallurgical Engineers, appointed in 1919, in its report states: A proper value of a mining property is the present value of the prospective net earnings, taking into account probable variations in output and value. Ingalls (" Wealth and Income of the American People," p. 97) says: The fundamental principle of mine valuation is the present worth of an annual dividend accruing during the period of years corresponding with the life of the mine. It is a convention that the estimated period shall not be more than 30 years.

Jan 1, 1924

AT THE beginning of November, Mussolini had firmly established himself at the head of the Italian Government. He himself referred to the ascendancy of the Fascisti as the result of a revo-lution and bluntly informed Parliament that it was to vote, as a matter of form, as he ordered, or else be dissolved. One of the great consequences of these events in Italy was the impetus that they gave to simi-lar movements in other countries of Continental Europe. Another great event of the month in world affairs was the repudiation by the Turks of the Mudania agreement and their notification to the Allies that the latter must evacuate Constantinople and allow the Dardanelles to be closed. This had the effect of once more consolidating Great Britain, France and Italy in so far as this question is concerned, and there was prompt refusal to accede to the demands of the Turks. With the advent of November, both the United States and Great Britain were in- the throes of political contests. The result of the American election was a landslide against the administration and especially was it an expression of agrarian discontent and a declara-tion in effect that our domestic affairs are not good in spite of political representations that they are. In Great Britain, the Conservatives were put in power by a substantial majority in Parliament, but the fact that the Labor party became numerically the second party instead of the Liberals and that it polled about 40 per cent. of the total popular vote affords ground for misgivings, especially when it be considered that the Labor party was standing on distinctly socialis-tic and communistic principles. In Russia, there was a sitting of the Third Interna-tionale, to which Lenin in a speech made a quasi-confession of the failure of the communistic experiment in Russia. He admitted, moreover, that Russia could not industrially reconstruct herself without capitalistic help. Nationally the country is making progress. During November, the Far Eastern Repub-lic surrendered to the Soviet, which thus carried Russia back to the shore of the Pacific.

Jan 12, 1922

By W. S. Ayres

THE boiler from which these stay-bolts have just been obtained was that of the locomotive Catasauqua, Lehigh Valley Railroad, built at the company's shops, South Easton, Pa., in 1864. The iron is Lowmoor, and has been in use nearly ten years. The stay-bolts have become highly crystallized from some cause, and are very brittle, only requiring three blows of an ordinary machinist's hammer to break them. On the other hand, when annealed they are remarkably tough, as shown by the doubled sample. The majority of the broken bolts were found to be along the curve of the shell from a to c, Fig. 6. All of them were broken just inside the shell, and in no case next the fire-box. The fractures seen to have been of slow procedure, beginning at the top of the bolt, gradually working deeper and deeper until the pressure of steam overcame the tenacity of the remaining parts. Unequal contraction and expansion of the parts of the boiler seems in this case to be the only existing cause for a fracture. We cannot, from the data obtained, prove to an absolute certainty the manner in which the combined forces generated by the unequal contraction and expansion of the parts have arrived at their resultant work ; but we can, from these data and from existing circumstances, arrive at what seems to be a fair supposition, and thus at least anticipate the truth. The contraction and expansion in locomotive boilers has a large range between its extremes, and is very variable, both with reference to time and to their component parts. The shell and fire-box do not, perhaps, at any time, contract and expand at the same rate, nor proportionally ; but, on the contrary, owing to the great changes in temperature that take place both in the atmosphere around the shell, and in the fire in the fire-box, their condition is often changed suddenly, and widely from that which they just previously had. This racking tendency produces strains in the different parts, and it is fair to suppose that the continual motion of the two

Jan 1, 1874

By John V. Beall

They let the whole world know again that not only could we do it, but we make it look easy. The great crews before Scott, Irwin and Worden of Apollo 15 have all blended warm humor, informality and dexterity to put on a good show: but it keeps getting better and the last one was the best. Scott's rendition of Galileo's experiment using a hammer and a feather--not just any feather, but a falcon feather after the name of the LEM-was priceless. One generation of school kids will never forget that lesson. The final touch was in the "would-you-believe''" category, Now if English astronauts had been performing the mission, the sign-off would have been typically low key. Something like; "well its tea time, chaps; we'll have to toddle along." Apollo 15 surprised and thrilled spectators by blasting off to the Air Force song "Off we go into the wild blue yonder" and leaving a camera behind to photograph their own ascent. Now that is what we call showmanship. There is another aspect to our space show and that is that it cost billions of dollars to put on. With that kind of backing, the world for an audience and in the face of grave personal risk, one would expect the space explorers to be all business. Instead they did their jobs with limpid buoyancy. Our older readers will recall and contrast a movie of the thirties and the tense atmosphere when they had to talk that kid up there (Franchot Tone) down through the zero ceiling. A feat of considerably less difficulty than docking LEM. but nevertheless the gut tightening drama was absent in the latter event. In another example, few of us can visualize reporting back after a business mission to one of the old barons such as J. P. Morgan in any but the most sedate and business-like terms. In fact we don't have to go that far back, as we can think of a few pepper-pot bosses we have had to whom one always played it straight.

Jan 1, 1971

By S. B. Sargent, V. J. Collins, Lester C. Uren

[The conclusions arrived at by authors in paper read before the Petroleum Division and the California Sections of the Americam Institute of Mining and MetallurgicaI Engineers and the Standardization Division of the American Petroleum Tnstitute, at a joint session held at Los Angeles, Cal., Jan. 21, 1926, are presented below.] From the theoretical discussion and experimental evidence presented in this paper, the following conclusions may be drawn: 1. The efficiency of the oil-well plunger pump is dependent to an important degree upon the submergence provided. 2. Ample submergence must be secured in order to provide sufficient static pressure to force the oil through the restrictions interposed in the oil path at the standing valve and at the plunger nut surrounding the garbutt rod. These restrictions should be no smaller than is structurally necessary, in order to reduce resistance to oil flow to a minimum. 3. A part of the static pressure developed below the standing valve by submerging the pump is dissipated in overcoming the inertia and in providing upward acceleration for oil left between the pump valves at the conclusion of the down-stroke of the plunger, and of oil below the standing valve in the gas anchor above the oil inlet. This loss in effective static pressure can be reduced to a minimum by dispensing with the garbutt rod and placing the working valve at the lower end of the plunger. The valves should be as near together at the conclusion of the down-stroke of the plunger as is consistent with security in avoiding striking of the lower end of the plunger on the standing-valve crown. Gas anchors should be short, and oil inlets should be as near the standing valve as is consistent with proper gas exclusion. 4. Because of the presence of gas in solution in the oil, which tends to escape from solution under the reduced pressure conditions above the standing valve, the effective length of stroke of the plunger is reduced, and the suction effect of the rising plunger is largely nullified. The influx of oil through the standing valve is therefore chiefly dependent on static pressure developed by submergence.

Jan 1, 1927

By H. C. Kenny

The annealing or softening temperature of cold-worked copper is appreciably increased by almost unbelievably small amounts of silver. As indicated by some data in this paper, the softening temperature of high-conductivity, tough-pitch copper may be increased from 200" to 350" C. by the addition of only 15 oz. per ton (0.052 per cent) of that element. Because it has this higher annealing temperature as compared with the silver-free metal, silver-bearing copper finds considerable use in industry. For example, when hard-rolled copper is used in operations that involve soldering or tinning, silver-bearing copper insures against loss of strength, whereas silver-free copper becomes "dead soft." Yet—though several investigators, beginning with Caesar and Gernerl in 1916, have shown that small amounts of silver do definitely raise the softening temperature of copper—data are lacking on the problem: What is the specific influence of different amounts of silver on this temperature? It was to help in filling this gap in the knowledge of what might be termed "alloy coppers" that the data given herein were obtained. The softening of cold-worked copper depends, of course, on a number of factors, of which the composition of the material is only one. Other highly important factors are the degree to which the material is cold-worked and the time it is held at the annealing temperature. The method of cold working and the grain size of the metal produced are also significant. All these variables were taken into account in the investigation reported here, and the influence of silver on the electrical conductivity and on the working was also considered. The coppers used in the softening tests were Lake coppers melted and cast by the Calumet and Hecla Consolidated Copper Co. The ires were fabricated by the Roebling Wire Co. and the sheets were rolled at the Battelle Memorial Institute. Partial analyses of some of the coppers are listed in Table 1, with their electrical conductivities.

Jan 1, 1934

By Frederic Laist

IN the spring of 1931 an experiment was made at Anaconda with a small reverberatory furnace, with which was combined a roasting shaft. The arrangement is shown in the accompanying drawing (Fig. 1) and requires but little explanation. The general idea was to roast .flotation concentrates, mixed with the proper fluxing materials, by dropping them down a heated shaft, from which the calcines would enter the smelting zone of the reverberatory furnace through an opening in the roof. The hearth of the reverberatory was 3 ft. wide by 21 ft. long. The roasting shaft was 3 ft. square inside and had an effective height of about 20 ft. . The reverberatory furnace was arranged so that it could be charged either directly through the roof with regular hot calcines, in the usual manner, or by means of the shaft, at the top of which were a feed-ing arrangement by which cold flotation concentrates, suitably fluxed, could be fed continuously and a pipe through which cold air was blown in. Means were provided for distributing the feed over the cross-section of the roasting shaft. At first a mechanical arrangement was used but later it was found that a simple cone served the purpose equally well and gave less operating trouble. On account of the small size of the equipment, it was realized that absolute capacity and fuel consumption figures would mean but little. It was not to be expected that ratios comparable to those obtained in large furnaces could be gotten, and the only way in which any idea could be obtained as to the possibilities of the combination furnace was to run it in parallel with the reverberatory furnace charged in the usual manner and operating without the shaft. The results of such parallel runs are given in Table 1. The amount of oil burned in the reverberatory was purposely maintained at substantially the same rate during both runs in order that the benefits resulting from the shaft might be gaged.

Jan 1, 1933

By H. M. Boylston

METALLIC manganese was first produced in 1773, by Sven Rinmann, a Swedish mineralogist. In 1799 William Reynolds, of Ketley, England, obtained a patent on the use of manganese dioxide in the manufacture of steel, and in 1808 an English patent was granted to John Wilkinson covering the use of manganese ore, or manganiferous ore, as an addition to iron ore in the blast furnace for the production of a superior grade of pig iron. Karsten showed in 1816 that manganese increased the hardness of iron without decreasing its malleability or toughness, while it caused pig iron to be more white in fracture and more fusible. The first practical application of manganese to steel-making, however, is attributed to Josiah Heath who discovered in 1839 (less than 90 years ago) that manganese conferred upon steel the properties of being more easily worked and welded under the hammer. When Bessemer invented the pneumatic process of steel-making which now bears his name he was at first successful because, as it afterward developed, he was using. a Swedish pig iron high in manganese. When his supply of this material ran out, he used a low-manganese pig from English sources and failed signally to produce a steel which could be rolled, while his Swedish licensees were continuing their successful application of his method. And it was not until Robert Mushet, in 1856, suggested the addition of manganese in the form of spiegeleisen to the molten product of the converter that success again came to Bessemer. In 1866, William Siemens patented the use of ferro-manganese as an addition to molten steel to counteract the bad effects of sulfur. It was in 1888, that Robert Hadfield published at some length his account of the effect of manganese as an alloying element in steel and described the unique properties of the now famous Hadfield manganese steel containing about 12 to 14. per cent. manganese and 1.25 per cent. carbon.

Jan 5, 1927

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