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LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page I Wilkes-Barre, Pa * May, 1871 I 3 II Bethlehem, Pa August, 1871 I 10 III Troy, N Y November, 1871 I 13 IV Philadelphia, Pa February, 1872 I 17 V New York, N Y * May, 1872 I 20 VI Pittsburg, Pa October, 1872 I 25 VII Boston, Mass February, 1873 I 28 VIII Philadelphia, Pa * May, 1873 II 3 IX Easton, Pa October, 1873 II 7 X New York, N Y February, 1874 II 11 XI St Louis, Mo * May, 1874 III 3 XII Hazleton, Pa October, 1874 III 8 XIII New Haven, Conn February, 1875 III 15 XIV Dover, N J * May, 1875 IV 3 XV Cleveland, 0 October, 1875 IV 9 XVI Washington, D C February, 1876 IV 8 XVII Philadelphia, Pat June, 1876, V XVIII Philadelphia, Pa October, 1876 V 9 XIX New York, N Y February, 1877 v 27 XX Wilkes-Barre, Pa * May, 1877 vi 3 XXI Amenia, N Y October, 1877 vi 10

Jan 1, 1917

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page I Wilkes-Barre, Pa * May, 1871 I 3 II Bethlehem, Pa August, 1871 I 10 III Troy, N Y November, 1871 I 13 IV Philadelphia, Pa February, 1872 I 17 V New York, N Y * May, 1872 I 20 VI Pittsburg, Pa October, 1872 I 25 VII Boston, Mass February, 1873 I 28 VIII Philadelphia, Pa * May, 1873 II 3 IX Easton, Pa October, 1873 II 7 X New York, N Y February, 1874 II 11 XI St Louis, Mo * May, 1874 III 3 XII Hazleton, Pa October, 1874 III 8 XIII New Haven, Conn February, 1875 III 15 XIV Dover, N J * May, 1875 IV 3 XV Cleveland, 0 October, 1875 IV 9 XVI Washington, D C February, 1876 IV 8 XVII Philadelphia, Pat June, 1876, V XVIII Philadelphia, Pa October, 1876 V 9 XIX New York, N Y February, 1877 v 27 XX Wilkes-Barre, Pa * May, 1877 vi 3 XXI Amenia, N Y October, 1877 vi 10

Jan 1, 1910

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page 1 Wilkes-Barre, Pa May, 1871 1 3 2 Bethlehem, Pa August, 1871 1 10 3 Troy, N Y November, 1871 1 13 4 Philadelphia, Pa February, 1872 1 17 5 New York, N Y May, 1872 1 20 6 Pittsburg, Pa October, 1872 1 25 7 Boston, Mass February, 1873 1 28 8 Philadelphia, Pa May, 1873 2 3 9 Easton, Pa October, 1873 2 7 10 New York, N Y February, 1874 211 11 St Louis, Mo May, 1874 3 3 12 Hazleton, Pa October, 1874 3 8 13 New Haven, Conn February, 1875 3 15 14 Dover, N J May, 1875 4 3 15 Cleveland, 0 October, 1875 4 9 16 Washington, D C February, 1876 4 18 17 Philadelphia, Pat June, 1876, 5 3 18 Philadelphia, Pa October, 1876 5 9 19 New York, N Y February, 1877 5 27 20 Wilkes-Barre, Pa May, 1877 6 3 21 Amenia, N Y October, 1877 6 10

Jan 1, 1917

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page I Wilkes-Barre, Pa * May, 1871 I 3 II Bethlehem, Pa August, 1871 I 10 III Troy, N Y November, 1871 I 13 IV Philadelphia, Pa February, 1872 I 17 V New York, N Y * May, 1872 I 20 VI Pittsburg, Pa October, 1872 I 25 VII Boston, Mass February, 1873 I 28 VIII Philadelphia, Pa * May, 1873 II 3 IX Easton, Pa October, 1873 II 7 X New York, N Y February, 1874 II 11 XI St Louis, Mo * May, 1874 III 3 XII Hazleton, Pa October, 1874 III 8 XIII New Haven, Conn February, 1875 III 15 XIV Dover, N J * May, 1875 IV 3 XV Cleveland, 0 October, 1875 IV 9 XVI Washington, D C February, 1876 IV 8 XVII Philadelphia, Pat June, 1876, V XVIII Philadelphia, Pa October, 1876 V 9 XIX New York, N Y February, 1877 v 27 XX Wilkes-Barre, Pa * May, 1877 vi 3 XXI Amenia, N Y October, 1877 vi 10

Jan 1, 1917

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page I Wilkes-Barre, Pa * May, 1871 I 3 II Bethlehem, Pa August, 1871 I 10 III Troy, N Y November, 1871 I 13 IV Philadelphia, Pa February, 1872 I 17 V New York, N Y * May, 1872 I 20 VI Pittsburg, Pa October, 1872 I 25 VII Boston, Mass February, 1873 I 28 VIII Philadelphia, Pa * May, 1873 II 3 IX Easton, Pa October, 1873 II 7 X New York, N Y February, 1874 II 11 XI St Louis, Mo * May, 1874 III 3 XII Hazleton, Pa October, 1874 III 8 XIII New Haven, Conn February, 1875 III 15 XIV Dover, N J * May, 1875 IV 3 XV Cleveland, 0 October, 1875 IV 9 XVI Washington, D C February, 1876 IV 8 XVII Philadelphia, Pat June, 1876, V XVIII Philadelphia, Pa October, 1876 V 9 XIX New York, N Y February, 1877 v 27 XX Wilkes-Barre, Pa * May, 1877 vi 3 XXI Amenia, N Y October, 1877 vi 10

Jan 1, 1917

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page I Wilkes-Barre, Pa * May, 1871 I 3 II Bethlehem, Pa August, 1871 I 10 III Troy, N Y November, 1871 I 13 IV Philadelphia, Pa February, 1872 I 17 V New York, N Y * May, 1872 I 20 VI Pittsburg, Pa October, 1872 I 25 VII Boston, Mass February, 1873 I 28 VIII Philadelphia, Pa * May, 1873 II 3 IX Easton, Pa October, 1873 II 7 X New York, N Y February, 1874 II 11 XI St Louis, Mo * May, 1874 III 3 XII Hazleton, Pa October, 1874 III 8 XIII New Haven, Conn February, 1875 III 15 XIV Dover, N J * May, 1875 IV 3 XV Cleveland, 0 October, 1875 IV 9 XVI Washington, D C February, 1876 IV 8 XVII Philadelphia, Pat June, 1876, V XVIII Philadelphia, Pa October, 1876 V 9 XIX New York, N Y February, 1877 v 27 XX Wilkes-Barre, Pa * May, 1877 vi 3 XXI Amenia, N Y October, 1877 vi 10

Jan 1, 1917

By W. F. Flanagan, K. R. Evans

The strong temperature dependence of the flow stress of bcc metals has prompted considerable interest and controversy concerning the rate-controlling influence of the Peierls' mechanism upon deformation in metals.18"21 Dorn and Rajnak" recently offered a criterion for Peierls' deformation utilizing a line-energy model of a dislocation to estimate the saddle-point activation energy, for the nucleation of a pair of kinks as a function of applied stress and the height and shape of the peierls9- barrier. It was found that Un/2Uk, where 2Uk is the excess energy of a kink pair, was a unique function of where is the effective stress and 7p is the Peierls' stress as defined in Fig. 20. The relationship found by Dorn and Rajnak between is given by the solid line of Fig. 21. may be expressed in terms of the temperature of test, T, and the athermal temperature, T,, defined in Fig. 20. Considering the strain-rate, 9, of deformation for a thermally activated process to be given by where fo is nearly a constant, it is seen that and the theoretical relationship of Fig. 21 may be examined with readily obtainable experimental parameters. Dorn and Coworkers analyzed a large amount of experimental data in this manner for materials sus-

Jan 1, 1967

By Eric Jette

THE alloys of gold and iron were investigated in 1907 by Isaac and Tammann,1 who determined the thermal diagram for the entire system by thermal analysis and microscopic examination. They also reviewed the previous literature. Since that time the present authors have been able to find only two additional references. Guertler and Schulze2 examined the electrical resistance of iron alloys containing up to 40 per cent by weight of gold between 0° and 200° C.; the alloys were in the form of wires. The main result of this work was to confirm the solid solubility limit found by Isaac and Tammann; namely, about 20 per cent Au. More recently, Shih3 has examined the magnetic properties of gold alloys containing up to 10 weight per cent iron and particularly the range below 5 per cent. The alloys in the lower range were found to be paramagnetic; the 10 per cent alloy was ferromagnetic. The present investigation was undertaken to determine the solid solubility limits at various temperatures, particularly below the a-y transformation point of iron, since these solubilities are of some impor-tance in connection with the working of the alloys in the manufacture of certain "grey" and "blue" golds.

Jan 1, 1934

By Edward Thomas

THE late George S. Rice was active in the investigation of bumps, particularly in the last ten years of his career as chief mining engineer of the U. S. Bureau of Mines. Since most of his investigation was carried out in Great Britain, continental Europe, and-to a lesser extent-Canada, his thinking on prevention was influenced considerably by the experience of those countries. It is not surprising, therefore, that when he was called upon a few years before his retirement to investigate bumps in the U. S. and suggest ways to prevent them, he turned to longwall mining. A longwall method had been most successful in combating the bump hazard in mining coal under deep cover, especially in Great Britain, but the prevailing method there at the time was advancing longwall mining, which he knew was uneconomical under U. S. mining conditions. For this reason he proposed a modified retreating longwall system that he believed included the best features of the advancing method. As brought out by Rice,1 if the cover is 2000 ft and 50 pct of the coal is extracted, the static load on the remaining pillars will be about 4000 psi, which exceeds the ultimate crushing strength2 in most instances. If the pillar coal is overloaded before a pillar line is established, then the abutment zone preceding a line of extraction is no place to split pillars or extract them by any method other than an open-end system. Rice therefore advocated open-end mining, preferably by longwall, but he was willing to compromise with long-face mining if the longwall method was not acceptable.

Jan 8, 1958

By S. A. Levy, J. D. Wood, J. F. Libsch

A study of the preparation and characteristics of a sevies of Fe-C-N alloys has been conducted. X-ray, microhardness, and metallographic data from a series of single-phase alloys produced by controlled nitriding of carburized foils are reported. The existence of a, y', and E carbonitride has been confirmed and it has been found that y' is the hardest of these three phases. These results have been used to interpret the structures observed in nitrided steels. ThIS paper represents the second phase of a three-part study concerning combined nitriding and induction hardening. The first part' reports the engineering properties (depth hardness, fatigue, corrosion, and tempering resistance) obtained when seven different steels were subjected to the combined surface hardening treatment. The present paper concerns the nature of a series of single-phase alloys prepared by controlled nitriding of carburized foils. The objective was to simulate the various layers present in the as-nitrided steels. A third paper will report data concerning induction hardening of the foils and will attempt to set forth a mechanism for the high hardness obtained with the combined treatment. Studies of nitriding generally fall into three categories. The first were performed with bars using conventional nitriding procedures, thus yielding a nitrogen gradient and a series of phase layers near the surface.2-6 Such studies were complicated by the presence of the nitrogen gradient, for it was difficult to correlate microhardness and X-ray data with chemical composition. There were always complications due to penetration of the X-ray beam which yielded data influenced by underlying layers. Similar difficulty was experienced in taking hardness readings on a tapered specimen or in isolating various layers by machining. A second group of investigations was primarily concerned with establishment of regions in the Fe-N7,9,10 or the Fe-C-N phase diagram.8 These were performed with powder specimens which were nitrided in am-monia-hydrogen mixtures to produce a series of single-phase specimens. Unfortunately, the powder specimens were not amenable to either microstruc-ture or microhardness study. The third was essentially a compromise of the first two. Bose and Hawkes," using 0.005-in.-thick iron foils, were able to obtain microhardness, microstruc-ture, composition, and X-ray data on Fe-N alloys of eutectoid composition by equilibration in ammonia-hydrogen mixtures at 1290°F. To obtain a better understanding of the nitriding process and the characteristics of the phases in ni-trided plain carbon steels, the present investigation was undertaken. The investigation was patterned after that of Bose and Hawkes with the exception that nitriding was performed at 930°F (below the eutectoid temperature), as in the case of conventional nitriding. In addition to gaining some understanding of the source of high hardness of nitrided and induction-hardened steels, found in a previous study,' this investigation was concerned with the possibility of controlling the phases present in a nitrided case through the use of ammonia-hydrogen mixtures. Knowledge of the properties of each phase and the conditions necessary for its production could make it possible to avoid undesirable surface layers in nitriding. EXPERIMENTAL PROCEDURE Specimen Preparation. A specimen thickness of 0.005 in. was selected to insure that a uniform nitrogen concentration could be obtained in a reasonable length of time by equilibration in an ammonia-hydro-gen atmosphere. The starting material was a vacuum-cast ingot of pure iron, the major impurities of which were: C, 0.003 pct; 0, 0.014 pct; S, 0.004 pct; N, 0.003 pct.* 'Compositions are quoted as weight percent except as noted. The ingot was heated to 1500°F in a nitrogen atmosphere and forged to a slab 0.25 in. thick. The material was then reduced to 0.005 in. by alternately cold rolling and annealing in a nitrogen atmosphere at 1600°F. This material was divided into five groups of specimens which, after carburizing, yielded the following carbon contents: 0.003, 0.28, 0.36, 0.46, and 0.74 pct C. The carburizing was performed by the Leeds and Northrup Research Laboratories, using a controlled "carburizing potential" which yielded a uniform carbon concentration throughout the cross section.

Jan 1, 1970

By Carter S. Cole

Mr. Chairman, Fellow Members and Guests, our chairman this morning got over into the geneological field, so perhaps I may be pardoned if I revert to some of my ancestral training and give you a text. I always like to talk about some special little text that may illustrate what we want to say. So the text that I will take for this afternoon is a very simple one, "Win the War." That is the guide for all of our actions, or should be. We should question everything we do to see what it does to contribute to winning the war. If we fail to do that, nothing else is going to count. On the wall of the office of one of the branch chiefs in the Copper Division in Washington there is a little slogan which I think we should take very deeply to heart, "The difficult we do right away. The impossible takes a little longer." I think that is a very good guide for us to follow in the work that lies ahead of us in the metallurgical field and in the handling of these secondary metals and the things that result therefrom. My subject is "Conservation and Specifications." Some people would wonder just where that fits in, and how you might define "conservation." One very good definition would be "the utmost use of our resources." If you will pardon my going back to some of my earlier experience for a little simile, those of you who know me know that for ten years after the last war I was in the railroad business. If we are with the engineman in a cab, and we have a green signal ahead of us, that is a clear signal and tells us to proceed at full authorized speed. Now suppose we come to a yellow signal that is caution, slow down to one-half authorized speed and be prepared to stop. Now if you do slow down, the chances are that that obstruction that was ahead of you will move out of the road, and you may get another yellow or caution signal at the next block, and be able to keep going at a slow speed. As of the date of Pearl Harbor our tin supply took on a very yellow tinge, and it threw the caution sign right in our faces. If we had not heeded that sign, and cut down our consumption of tin, we would not have any today; but because we have done so we are in a much better position today than we were a year ago, that is comparing our visible supply with our present rate of consumption as contrasted with the visible supply a year ago and our then rate of consumption.

Jan 1, 1943

By Roy E. Dickerson

CUBA differs considerably from the other Greater Antilles in many geologic fundamentals. Cuba is geosynclinals; whereas Jamaica, Hispaniola. (Haiti), and Puerto Rico are geoanticlinal. (Scliuchert, Chas., Historical Geology of the Antillian. Caribbean Region, p. 13, 1935.) Rocks of lowermost Cretaceous age exist in large volume in Cuba, where- as they are generally absent in the other islands. Since many of the surface indications of petroleum are intimately associated with lowermost Cretaceous rocks, the Vinales limestone,, this difference is most important. The Vinales limestone in many places in Pillar del Rio and Santa Clara provinces reeks with light tars when broken with a hammer. The late David White and his associates on the U. S: Geological Survey studied

Jan 1, 1937

By W. R. Crane

While professiorlally engaged in the oil- and gas-fields of Kansas, in measuring the pressure and flow of gas-wells, and studying the phenomena attendant upon the production of both oil and gas, I noticed in the flow of gas a peculiar and interesting feature. That there are actual lines of flow in liquids (non-compressible fluids) discharged through an orifice, or a short section of pipe, is shown by the external shape of the discharge—the vena contracts. Such lines of flow are not observable in the discharge of gas from an orifice. It can hardly be questioned that they exist. That they are not apparent is probably due to the very small weight of the gaseous particles, which climinishes the momentum of their movement in a given direction, acquired before they issue from the orifice, and also to the expansion of the gases, which would exert a powerful influence in overcoming any such tendency in their flow. Gas flowing from an orifice, supplied by a large reservoir or blowing-engine, exhibits almost the reverse of what is noticed with liquids. Namely, the gas assumes the form of an inverted truncated cone, of large angle: with its apex-end at the orifice. (See BB, Fig. 1.) This external ahape assunled by the flow of gas shows, however, marked differences under varying conditions of volume and pressure. For instance, a large volume of gas under high pressure, flowing through a 2- or 3-in. pipe, as in the case of a natural gas-well, assumes a more definite conical form, the angle of which increases as the pressure falls. Moreover, outside of the well-defined inverted cone is a thin conical heath or zone of gas, A A, the angle of which is considerably greater than that of the main cone, and increases with +1UNIVERSITY OF KANSAS, LAWRENCE, KANSAS.

Jan 1, 1905

By J. L. Huiatt, R. B. Tippin

Introduction Great Salt Lake Minerals & Chemicals Corp. (GSL), a subsidiary of Gulf Resources & Chemical Corp., is located on the east side of the Great Salt Lake, approximately 20 miles from Ogden, UT. GSL processes brine from the north arm of the lake to produce potash, salt cake, salt, and magnesium chloride brine. Potash fertilizer, in the form of K2SO4 is GSL's primary product. The CSL Sulfate of Potash Complex: The GSL potash complex (depicted in [Fig. 1]) is divided into a solar evaporation pond system and the process plants. The solar evaporation system consists of a 17,000-acre (68.8 km2) ponding operation where the various salts deposit during the summer evaporation season and a harvesting operation which recovers the deposits during the remainder of the year. The harvest is either preconcentrated in the flotation plant or processed directly in the chemical plant where sulfate of potash (SOP) is produced. The chemistry of the lake brine results in a solar deposit containing primarily kainite (KC1 . MgSO4 . 3H20), schoenite (K2SO4 . MgS04 . 6H20), and halite (NaCI), with some carnallite (KC1 . MgC12 . 6H20) and epsomite (MgSOq . 7H20). Other minerals may be deposited, depending upon the weather during the evaporation season. Each year, the solar deposit in the evaporation ponds will greatly depend upon the summer weather conditions, which have in the past proven to be quite unpredictable. Weather may alter both the quantity of the solar deposit and the composition of this deposit. During a "short" evaporation season, the tonnage deposited decreases, but depending upon the short-term weather, the potash mineral content can vary greatly. During an "erratic" evaporation season, with intermittent summer rains or

Jan 1, 1980

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

By Duk-Won Park, Syd S. Peng

INTRODUCTION More than five years have elapsed since the first shortwall panel was installed in a US mine in 1972. By the latest count, 11 mines have tried the shortwall method on 34 panels. Potentially, the shortwall method (see Figure 1) offers the combined advantages of longwall and continuous mlning. But just like any other mining method, shortwall is not a panacea. It is only applicable under a set of stringent conditions. Coal operators at eight of the eleven mines are satisfied with shortwall mining, though there are only five mines presently producing coal from shortwall panels.

Jan 1, 1981

By THOMAS G. FEAR

THE COAL DIVISION started its share of the annual meeting Monday morning with a study of coal classi fication. A. C. Fieldner was in the chair. The report of the tellers of the ballot for division chairman, stating that Thomas G. Fear had been elected to that office, was read by M. D. Cooper. Mr. Fear acknowledged the honor in a few words. In reviewing the history of the Coal Classification Committee the chairman pointed out that this was its third symposium, the last previous one having been held at the 1930 Annual Meeting. Throughout its work the com¬mittee has had the active cooperation of the Canadian workers who are interested in the subject which should result in a uniform scheme of classification in Canada and the United States. F. E. Lathe, of the National Research Council, Ottawa, abstracted the first two papers of the session entitled "Determination of the Alkali-Soluble Ulmins in Coal," by Edgar Stansfield and K. C. Gilbart, and "Moisture Determination for Coal Classification," by the same authors. The third paper "Condition of Water in Coals of Various Ranks"' was presented by its author, A. W. Gauger. Written discussions of these papers were presented by H. C. Porter and Gilbert H. Cady. In the oral discussion which followed, W. T. Thom, Jr., brought out the advisability of considering age as a factor in classification. Mr. Fieldner favored retaining bed moisture as a partial classification basis, stating that a review of many coal analyses revealed a remarkable consistency in this item in samples from a given mine particularly where the moisture content was not high. Mr. Porter pointed out that the structure and porosity of coal often have much to do with its moisture content and that these vary in different parts of a seam, particularly in anthracite. Mr. Gauger expressed doubt as to whether the Stansfield method gives the true moisture content of coal, which is needed for classification purposes.

Jan 1, 1932

By Edgar F. Cruft

INTRODUCTION It is sometimes said that "mines are made, and not found." I rather doubt that the exploration geologist would be overly sympathetic to that statement, and, of course, like most one-liners it is only partly true. Access to different financial markets are important at the mineral prospect stage. The modern mine financier has a much more complex, and interesting, job than the financiers of an earlier era, for example, the Canadian financiers of the 40's and 50's who had one simple set of options; i.e. float a company, promote it, and sell an equity stock issue, and then promote it some more. QUALITIES OF A FINANCIER Because technical people are seldom taught financing in their basic training, and because they are usually not involved in it until at quite a senior level in their careers, the whole field often acquires a certain mystique. The engineering professions have too often believed financing is the province of the accountant or financial executive and just as we in the technical world are often too quick to bristle if the latter try to tread on our domain, the opposite can just as easily be true. Unfortunately, this is another example of a compartmentalized individual, and that is one thing the successful financier cannot be. However, to be a successful financier one does not need extensive training or experience in accounting or finance. In fact it can sometimes be a disadvantage to get too buried in working only from the standpoint of discounted cash-flow analyses, ROI's, etc. It must be stressed, however, that one had better know how these analyses are made, and be knowledgeable in understanding a balance sheet, and have a good understanding of financial terminology. The difference between a simple project-type debt financing with a commercial bank and a more inventive and creative financial package comes from an intuition and an experience relating to risk-reward factors. The most important element is "common-sense", based on knowledge and experience. The goal is structure a financial package that fits the project, and in so doing it is important to recognize that it must fit within the limitations of the group supplying the money. I find insensitivity to recognize these constraints the most common mistake made in the field. Put yourself in the other person's place and understand his sources of funds and financing limitations. The engineer has an advantage in financing, as he or she has (or should have) a better idea than anyone of the value of the product, be it the mine, prospect, or company i.e. the intangible or potential worth which cannot be put on a pro-forma. He also knows, or should know, the risks involved. Two projects might look the same on paper, but a good financier must have a sense of when to take whatever deal he can get, and when to hold out based on his evaluation of future developments. It is essential to have a good sense of commodity values and trends, trends affecting the general economy (money supply, interest rates, effects of energy costs, etc.), and political considerations. He must also have a good understanding of the science and art of taxation as deals can often be financed using the government as a silent and unwitting partner by proper use of the tax laws. WHEN TO SEEK FINANCE The first critical decision to make in financing a mineral prospect is "when". At the exploration level, when it is only a dream in the geologist's eye, the alternatives are more limited than when it is a fully-engineered project. The "when" decision depends on how much in internal funds the company has to play with, and how desirable it is to invite financial participation to spread the risk. Assuming that decision is not taken out of lack of money, no one can categorically say when to do it. There is

Jan 1, 1985

EDWARD HART*, Easton, Pa. (written discussion?) .-In 1895 I visited the chemical plant of the Messrs. Chance at Oldbury, England, under the guidance of Mr. France, the manager. In the stock house I saw a pile of coal brasses with adhering coal and said to Mr. France, "I should think you would get dark acid." "Yes," he replied, "our acid has always been rather black. and our customers have grown used to it. Some time ago we ran out of brasses and could get only Spanish pyrite. Our product became white and the customers began to complain, so I put a little sugar in each carboy." E. A. HOLBROOK,* Pittsburgh, Pa. (written discussion?).-Mr. Davis says, "A very large tonnage of pyrite is annually being thrown in the waste in the coal mines of this country." This quantity is much larger than is generally realized by people not intimately associated with coal mining. At the beginning of the war this country seemed threatened with a short-age of pyrite. The U. S. Bureau of Mines conducted a general investiga-tion of the pyrite resources of the country in order to ascertain what material was commercially available. The general pyrite investigation was in charge of H. A. Buehler, with the subsection on coal pyrite in charge of E. A. Holbrook.

Jan 10, 1919

By H. Rush Spedden

Antoine M. Gaudin was a vigorously creative man and throughout his career an internationally respected leader of his chosen profession of mineral engineering. To his professional colleagues and clients and to his former students he was both "Professor Gaudin," their wise, inspiring, and enthusiastic teacher, and "Tony," their, warm and beloved personal friend. Thus, his teachings and his unique inquisitive-creative approach to problems live on and grow in the accomplishments of his students. Antoine Gaudin was born at the turn of the century in Smyrna, Turkey, where his father was general manager of a French-owned railroad. It was there that he spent his earliest years, literally in the shadow of classic marbles from diggings at the site of Aphrodesias, which his father had rediscovered. From this, Tony developed an appreciation of the arts. He eventually surrounded himself with art treasures; he reveled in the beauties of nature, and he cherished his choice collection of rhododendron and azaleas. His artistic traits led him to take up painting when his daughter, Elinor, sought his help in blending her tints for a water color. In typical fashion he was not satisfied until he had become adept with pastels in capturing the muted tones of distant landscapes and the technical properties of light and color. Unfortunately not many paintings were produced. His paternal grandfather was Marc-Antoine Gaudin, for many years secretary of the Academie des Sciences in Paris, and a well known chemist and mineralogist whose primary interests included the synthesis of precious stones. In an autobiographical sketch written in 1939, Dr. Gaudin recalled: "As a child I saw many of the original synthetic sapphires and rubies which my father had inherited. This, coupled with my father's avocation of mining ventures and archaeology, early decided that I would become connected with the mineral industry." One can speculate that the archeological activities of his father, the mineral systhesis experiments of his grandfather, and his own early studies of mineralogy and geology formed a base from which his special talents as an experimentalist were to develop. Laboratory research under Professor Gaudin's personal guidance was often an intensive, fast-moving, and exciting experience--especially to a new graduate student. First of all, Professor Gaudin was a highly skilled observer with seem-

Jan 1, 1976