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By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By H. H. Power

THE PETROLEUM DIVISION of the A.I.M.E. continued with its diversified activities during 1.935. Sessions at the New York meeting in February were devoted to production engineering, domestic and foreign oil production, and petroleum economics. The symposiums on domestic and foreign production proved their increased usefulness. The data accumulated for 1935 were added to those published during prior years in "Petroleum Development and Technology." A joint session on the use of metals in the petroleum industry was held by the Institute of Metals, Iron and Steel, and Petroleum Divisions. W. S. Farish, chairman of the board of the Standard Oil Co. (N. J.), was the principal speaker at the annual dinner. The October meeting, held in Hous¬ton, was characterized by an excellent program and large attendance. Four sessions were devoted to problems in estimating reserves, reservoir energy, properties of drilling muds, electrical logging, water flooding, and other subsurface studies. Foreign representatives of the Anglo-Persian Oil Co. presented a paper on surface tension and specific gravity of crude oil under reservoir conditions. The address by President Buehler, the dinner at San Jacinto Inn, a trip to various lo

Jan 1, 1936

Jan 1, 1967

By K. C. Mills, E. T. Turkdogan

A number of investigators1 6 have noted the presence of a liquid miscibility gap in the Fe-Sn binary system. However, the first attempt to measure the

Jan 1, 1964

By Charles Wert

THE diffusion and precipitation of carbon and nitrogen in a iron have previously been investigated using the internal friction as a measuring tool.' Most of this work has been done on rather pure iron; no effect was observed which would indicate that either of these phenomena is affected by the rather small amounts of impurity found in these samples of iron. Fastz observed, however, that both the diffusion rate and the aging properties of nitrogen in iron were sensibly changed by the addition of Vz pet Mn. The diffusion rate at a given temperature is reduced and the nucleation of nitrides is apparently changed somewhat. He observed no such changes for carbon in this alloy. Later Dijkstra and Sladek" extended these observations on nitrogen to other alloys of iron. They found that metals other than manganese also influence the behavior of nitrogen in iron; chromium, molybdenum and especially vanadium affect the diffusion and precipitation of nitrogen even more than manganese does. Their results have been verified in all essential details by this author, who finds in addition that small additions of nickel have about the same effect on the diffusion of nitrogen as the same amount of manganese. The present work was undertaken to study the effect on carbon in iron of these alloying elements. The alloys used had two sources. The material used as a "standard" (designated Fe in this paper) in the measurements was some iron supplied by J. K. Stanley, of Westinghouse Electric Corp., who reported 0.01 pct 0, as the only major impurity. He also made up an alloy of 0.26 pct Ni and one of 0.9 pct Mo using this same iron as a base. They were supplied by him in 2 lb billets, which were sawed into rods and cold formed into 0.030 in. wires for measurement. The alloys of chromium, manganese, and vanadium were prepared by the metallurgy section of the Institute for the Study of Metals, University of Chicago, by adding these metals in turn to vacuum melts of National Research Corp. iron. The small castings prepared in this way were also cold formed into 0.030 in. wires. After these wires had been prepared they were decarburized for 30 min at 730°C in wet Hz. After this treatment, no trace of carbon (as measured by internal friction) could be found. All specimens were then carburized for about 15 min at 710°C and water quenched. By this treatment the internal friction at 40°C was raised to a Q-' ~ 0.015. The diffusion of carbon in these alloys was studied by observing the shape and position of the internal friction peak at 0.9 cycles per sec. These measurements were made using a torsional pendulum in a manner described earlier.' The data are plotted in Fig. 1. It is seen that there is no apparent difference in internal friction between the various alloys. This is in marked distinction to the broadening and shift-

Jan 1, 1953

. F. W. SPERR, JR.,* Pittsburgh, Pa.--Mr. Malcolmson states that the Carbocoal process produces ammonium sulfate in excess of that normally recovered in the ordinary byproduct coke process. Table 3 indicates that 20,000 to 25,000 lb. of sulfate of ammonia are obtained in carbonizing 1000 tons of Clinchfield coal. This is a high-grade coal and yields from 26 to 28 lb. of ammonium sulfate per ton in a modern byproduct coke oven. On the next page, 21 lb. is stated as the yield of ammonium sulfate per short ton of raw coal; this is less than the average production from any well operated byproduct coke-oven plant treating coal of the character usually coked, in Pennsylvania and Ohio. The statement as to the comparative yields of light oil is somewhat misleading in view of the results obtained during the past year or two by the more modern byproduct coke plants. The plants put in operation by the H. Koppers Co., during the past two years, are producing about 3.5 gal. of light oil per short ton of coal, and several of these plants are producing more than 4 gal. per ton. The yield of pure toluene runs from 0.45 gal. to 0.55 gal. per ton. .The quality of the light oil .obtained from the Carbocoal process is of much greater importance than would be inferred by one not closely familiar with the subject. The presence of paraffins in the benzol and toluol fractions seriously detracts from their commercial value; the benzol and toluol fractions derived fro in the Carbocoal process contain about 50 per cent, of paraffins. It should be thoroughly understood what these paraffins are. They are simply hydrocarbons that go to make up ordinary petroleum, and if a successful method for the removal of paraffins from benzol and toluol has been developed, this can at once be applied to several well known processes by which benzol and toluol can be made directly from petroleum, which have as yet been total failures on account of the contamination of these products by paraffins.

Jan 11, 1918

By C. H. Mathewson

MY treatment of the subject of "Metals of the Future" is imaginative rather than statistical or scientific, because reliable information concerning useful concentrations in the form of ore deposits of by far the majority of the elements does not exist and the chemical, physical, and mechanical properties of the unfamiliar metals are recorded only in fragmentary and uncertain form or not at all.

Jan 1, 1944

By AIME AIME

ARRANGEMENTS for the Annual Meeting of the Institute were well advanced at the end of December as the following program will show. Heretofore this has been printed separately, but its inclusion in the Annual Review issue of MINING AND METALLURGY will, it is hoped, make it more easily available for reference until the final program is issued, which will be distributed at the meeting. Added details will appear in the February issue. Last year's meeting drew a record crowd of over 2300 which should be exceeded this year. Early reservations at the headquarters hotel, the Waldorf-Astoria, or any other convenient hotel are desirable, as are prompt reservations for the Annual Dinner. No one need worry about too much speechmaking this year, for the honors will be awarded and accepted in a few words instead of a few paragraphs, in seconds rather than minutes.

Jan 1, 1939

By N. J. Grant, C. C. Wang

The Ti-Cr-O ternary system has been studied in detail near the titanium-rich corner within the limits of 10 wt pct 0, and 20 wt pct Cr. Studies were extended, but not in detail, to the region beyond 25 wt pct 0, (50 atomic pct) and 62 wt pct Cr (60 atomic pct). Four isothermal sections at 1400°, 1200°, 1000°, and 800°C are presented as well as two vertical sections at 1 and 2 wt pct 02. DURING the last decade much interest has been shown in the development of high strength titanium alloys for high temperature and corrosion resistant applications. Extensive research is being carried out at present, as the current literature indicates, in order to study the properties of titanium and to develop improved alloys. Two of the important alloying elements in commercial titanium alloys are chromium and oxygen and it would be desirable to know their combined influence upon titanium. For this purpose the present work was carried out to investigate the titanium-rich corner of the ternary system TiICr-0. The binary systems Ti-Cr and Ti-0 have been published recently. The Ti-Cr system was studied by several investigators " and their results are in close agreement. The eutectoid decomposition of the B phase has been shown to be extremely sluggish. TiCr, was the only intermetallic compound found in this binary system and was formed at 1350°C by a transformation from the p phase. TiCr? was established as the cubic C 15 (MgCu,) type of structure with 24 atoms per unit cell and was designated as the y phase. This terminology will be adopted in the present work. There was disagreement about the actual composition of this compound among the several investigators, although it is evident from their data that the compound probably has a solubility range of about 2 to 3 pct and is in the vicinity of 65 pct Cr. It has been indicated recently that a high temperature modification of this y phase (TiCr,) existed at a temperature above 1300°C." ' This high temperature modification was identified as a hexagonal C 14 (MgZn,) type of structure with 12 atoms per unit cell. The exact transformation temperature from the high temperature phase to the low temperature phase has not been established. A considerable hysteresis was observed and, due to the sluggishness of this transformation, the high temperature phase often co-existed with the low temperature phase at temperatures below 1300°C. A preliminary study of several Ti-0 compounds and the Ti-0 system had been carried out by Ehr-1ich."-"' The most complete binary Ti-0 system was the one reported recently by Bumps, Kessler, and Hansen." The first intermediate phase found in the system was the 8 phase which formed by a peritec-toid reaction of the phases a and Ti0 at temperatures below 925 °C. This reaction is extremely sluggish. The structure of this 8 phase was tentatively identified by these authors as being tetragonal and the lattice constants were found as c,, - 6.645A, a,, = 5.333A and c/a = 1.246A. Experimental Procedure The raw materials used for this investigation were TiO,, electrolytic chromium, iodide titanium, and sponge titanium. The TiO, was in the form of powder of chemically pure grade (99.8 pct pure). The chemical analysis of the electrolytic chromium was: 0, 0.50 pct; Fe, 0.07; Cu, N, and C, 0.01; and Pb, 0.001. The oxygen in the chromium was calculated as part of the final oxygen content of the alloys. The alloys were prepared by the cold crucible method using a tungsten arc. The entire system was evacuated and flushed with purified helium three times and then filled with helium. Each alloy was melted, turned over, and remelted at least four times to insure homogeneity. The total melting time was generally from 6 to 10 min. A master alloy of 25 pct 0,-75 pct Ti was prepared to facilitate alloying by melting compacts of TiOl powder with either iodide or sponge titanium, yielding the compound TiO. It was found necessary to bake the TiO, powder compact at about 150°C to remove adsorbed moisture. This was done to prevent the disintegration and spattering of the compact when the arc was struck. TiO, powder dissolved quite readily into the melt and no other trouble was encountered.

Jan 1, 1955

By C. E. Melbye

A serious problem confronted the city of Gunnison early in 1958 in that, for a few months during each spring runoff, the water supply derived from the Gunnison River became polluted to an unsafe point. The city management had the choice of building a new filter plant to replace the old unworkable one or drilling wells to develop a ground water supply. The cost of a new filter plant was estimated at $180,000 compared to $50,000 for 6 wells, pumps, and additional water lines, hence their decision to attempt the development of sufficient ground water. Six wells at 300 gpm per well were estimated as necessary to handle the peak usage of 1800 gpm, compared to only 600 gpm winter usage. Although the water table is only about 7 feet below the surface, existing private wells drilled at random locations were producing much less than 300 gpm. The problem was to find sufficient quantities from about 6 wells. Since the presence of an ancient bedrock channel was suspected, which would be expected to localize greater quantities of water, the city of Gunnison authorized a resistivity survey to investigate bedrock topography below unconsolidated gravels. Survey results were highly satisfactory and led to the preparation of a fairly detailed bedrock contour map, Fig. 1. This map was used in selection of all well sites. The city of Gunnison is situated in a flat, broad, Quaternary gravel-filled valley (terrain dips south at 20 feet per mile) at the junction of the Gunnison River and Tomichi Creek. The valley, about 2-4 miles wide, is bordered by hills of Tertiary volcanics to the northwest, Cretaceous and Jurassic sediments to the north and northeast, and pre-Cambrian granite and gneiss to the south. One previous deep test well at the west end of the city hit pre-Cambrian granite at 496 feet, which, allowing for 40 feet of surface gravels, makes the older sedimentary section 456 feet thick. This section is probably all Jurassic Morrison formation, consisting of the Saltwash sandstone overlain by the much thicker section of Brushy Basin shales and mudstones. According to the driller's logs, each well was bottomed in what is believed to be Brushy Basin shale. FIELD PROCEDURE A standard Gish-Rooney type of resistivity apparatus was employed, which used 45-volt dry batteries as a direct-current power source. Applied voltages could be selected from 45 volts to a 270-volt maximum. Copper-coated steel stakes were employed as current electrodes and porous porcelain pots as potential electrodes to avoid possible polarization effects with direct current. The expanding Wenner electrode configuration was utilized for this investigation and measurements were made at 20 40, 60, 80, and 100-foot spacings,

Jan 1, 1961

By S. F., French

IN reviewing the design of the ore haulage system for the Morenci project, the reader should bear in mind that the railroad and its equpiment cannot be considered as an independent railroad provided only for the purpose of transporting ore from one point to another, but as an integral part of the operation which begins at the electric shovels loading ore at the mine, and ends where the ore, after having been crushed in the primary crushing plant, is deposited in the bins at the secondary crushing plant. Obviously then, the problem consisted of designing a system that would function to the best possible advantage in complete co-ordination with the other units.

Jan 1, 1942

By R. S. Dean

IN THE COURSE of its investigations directed toward providing strategic metals from domestic sources and toward utilizing power from Federal power projects in West, the Bureau of Mines concluded some years ago that the development of a method for producing electrolytic manganese might well be an important step towards both goals. Accordingly, laboratory investigations were undertaken in 1935. Further studied on a relatively large laboratory scale indicated that electrolytic manganese could be made from domestic ores at a cost not out of line with other nonferrous metals. On the basis of these results, the Electro Manganese Corp. Operating under U.S. Patent 2,119,560 issued to S, M, Shelton and assigned to the Secretary of the Interior for administration, undertook commercial production of electrolytic manganese at Knoxville, Tenn, This company has brought the process through the pilot-plant stage successfully, and is now regularly producing approximately one ton a day.

Jan 1, 1941

By Charles H. Fulton

(Cleveland Meeting, October, 1912.) I. INTRODUCTION. THERE are comparatively few accurate data on the melting-or the freezing-point temperature of metallurgical slays, or on related physical phenomena, such as fluidity near the melting-point, specific heat, latent heat, etc. With the exception of the work of H. 0. Hoffman,1 and some older work by R. Akerman, P. Gredt, and H. M. Howe, no information is available that is of direct interest to the metallurgist. Hofman's valuable work is the only one that refers to slags produced in the metallurgy of copper and lead. The classic work of J. H. L. Vogt,2 who views slays from the standpoint of physical mixtures (solutions in which the entities are minerals), has opened up a. new field in the study of slags, and has placed the investigation of such properties as melting-temperatures, etc., on a rational basis. The recent work of A. L. Day, E. T. Allen, and W. P. White, of the Carnegie Institution, at Washington, and of European investigators 3 on certain systems of silicate minerals confirms the value of the investigation of silicate series from this standpoint, and it is my aim to apply this method to metallurgical slaws, in order to gain exact data of value in metallurgy. The work recorded in the present paper is the result of an investigation of reverberatory-furnace slags made for a Western smelting company to determine exactly the influence of change in composition, within comparatively narrow limits, on the melting-point. For a general discussion concerning the mineralogical character of slaws and the principles on which this investigation is based, reference should be made to other work,4 for the subject is too large to be stated in this paper, except very briefly in the following outline 1 Trans., xxix., 682 (1899). 2 Die Silikatschmelzlösungen; I. Ueber die Mineralbildung in Silikatschmelzlösungen; II Ueber die Schmelzpunkt-Erniedrigung der Silikatschmelzlösungen (Christiania, 1903-04). 3 Doelter, Handbuch der Mlineralehevu:e (1911) 4 C. H. Fulton, Principles (of Metallurgy. Chapter viii., on Slags, p. 24.5 (1910).

Dec 1, 1912

By M. R. Geer, H. F. Yancey

Four coals were treated in the Humphreys spiral concentrator, and the products were examined by float-and-sink and screen-sizing tests to determine fundamental performance characteristics. The efficiency of the separation between coal and impurity was shown to be influenced greatly by particle size.

Jan 1, 1950

By Rollin A. Pallanch

THE Midvale mill of the United States Smelting Refining and Mining Company is situated on a flat site whose elevation is 50 ft above that of the Jordan River. Tailings are impounded in the area between the river and the flat upon which the mill and railroad switchyard are located. The water supply is pumped from the Galena canal which leads from the river at a point some ten miles to the south. The mill has a present capacity of approximately 1700 tons daily. It started out originally in 1926 as a 750 ton three-unit plant. The tonnage was gradually increased to 1200 tons by 1934, and in late 1935 a fourth unit was added. The accompanying flowsheet shows the principal equipment and how it is utilized. The ore is principally sulphide with varying degrees of oxidation, with individual lots ranging widely in both precious and base metal content. In each of the four individual units of the mill there will often be mixtures of as

Jan 1, 1948

By T. F. Witherbee

Discussion of Mr. Baker's paper, read at the Lake Superior Meeting, September, 1904. MR. T. F. WITHERBEE, Durango, Mexico (communication to the Secretary*) : Mr. Baker's paper is very instructive in that it shows how furnace-derangements sometimes originate from apparently slight causes. In 1896 a similar burning through of the lining occurred at the Mayville furnace of the Northwestern Iron Co., Mayville, Wis., in exactly 38 days from the time the furnace was blown in. At that time I attributed it to the fact that the bell was carried several inches to the front side of the furnace, the length of the versed side of the arc described by the lever, thus dumping a little more of the charge on the back side, which made the front side of the furnace-charge more open and consequently increased the circulation of the furnace gases through it. After reading Mr. Baker's description, I believe that possibly a little more ore was charged on the back side of the hopper, due to the fact that it was nearest to the elevator. This unequal charging, however, was unconsciously done, as the fillers were both honest and faithful. The illustration of the burned lining of Furnace No. 1, given in Fig. - of Mr. Baker's paper answers very well for the Mayville furnace. It shows that in both cases the destruction of the lining was largely due to faulty construction, in that there were no cooling-plates in the angle of the bosh and in one or two courses of brick above it, where I believe they are-more in demand than anywhere else in the furnace. The presence of these cooling-plates at the angle of the bosh would have obliged the current of the hot gases to turn the corner and would have prevented them from following the angle of the bosh com¬pletely through the lining and shell.

Mar 1, 1905

By D. R. Cook, W. M. Shepard, H. T. Morris

The East Tintic district in central Utah has produced ores of gold, silver, copper, lead, and zinc valued at more than $120,000,000. All of this ore has been produced from blind ore bodies in Paleozoic sedimentary rocks that are concealed beneath hydrothermally altered volcanic rocks and cut by intrusive bodies of Eocene age. The Paleozoic rocks, which range in age from Early Cambrian to Mississippian form the core and limbs of a large, northtrending asymmetric anticline that is cut by low-angle thrust faults, high-angle transcurrent faults, mineralized fissures and faults, and normal faults that are both older and younger than the mineralized fissures. The ore bodies generally may be grouped into two classes: ( 1) massive replacement bodies that are rich in silver, lead, zinc and manganese and (2) fissure veins that are valuable primarily for their content of gold, copper, and silver. The replacement ore bodies are localized chiefly in the Middle Limestone Member of the Ophir Formation of Middle Cambrian age where it has been thrust-faulted against older or younger rocks and cut by northeast-trending mineralized fissure zones. The fissure veins primarily are productive only in the Lower Cambrian Tintic Quartzite. Extensive lowgrade deposits of lead-zinc-silver ore recently have been discovered in Devonian carbonate rocks in the Lower plate of the East Tintic thrust fault but as yet are unevaluated. The principal guides to ore include: ( 1) intersections of northeast-trending fissures and crossbreaking faults that brecciate the carbonate rocks; (2) zones of late-stage pyritic, calcitic, and sericitic alteration in the lavas; ( 3) primary geochemical anomalies in the altered rocks; and ( 4) mineral zoning patterns of the known ore bodies. The present development of the Burgin mine would seem to assure the continued productivity of the district for at least a decade.

Jan 1, 1968

By GUY B. HUNNER

THOSE magnetite ore bodies comprising the Clifton Mines are situated in the south central part of St. Lawrence County, New York, on the western slope of the Adirondack Mountains. The topography is made up of gently rolling hills densely wooded with second-growth maple, birch, and hemlock. Drainage is north and west to the St. Lawrence River.

Jan 1, 1943

By T. Sterry Hunt

WET processes for the extraction of copper from its ores have of late attracted much attention, especially in Europe, where the use of oupriferous iron-pyrites as a' source of sulphur prevails. These processes present an additional interest, when, as is often the case, the copper-ore's to be treated contain one or both of the precious metals, since the complete separation of these from copper, either in the dry or the moist way, is, as is well known, one of the difficult problems of metallurgy. The principal wet processes hitherto in use for the extraction of copper from its ores, may be included under three classes : I. Those in which the copper in snlphuretted ores is rendered soluble in water by calcining them, after a preliminary roasting which removes the greater part of their sulphur, with a portion of common salt, by which the copper is converted into a chloride (Long-maid and Henderson), or with sulphate of soda, by which sulphate of copper is formed (Monnier). Allied to these is the method by which a portion of the copper is got as soluble sulphate by roasting without addition, a process which is sometimes modified and rendered more complete by re-roasting the lixiviated residues with the addition of a portion of raw sulphuretted ore (Bankart). II. Those methods in which free chlorhydric or sulphuric acid is used to dissolve the copper- from oxidized or roasted ores. These, while simple and efficient, are too costly, except in certain localities where chlorhydric acid is a waste product. Related to them is the plan which consists in exposing the oxidized and moistened ores to the slow action of sulphurous acid mixed with air, by which a soluble sulphate of copper is formed. It has been proposed to decompose the solutions of sulphate or chloride of copper by sulphuretted hydrogen, thus separating the copper as sulphide, and using the liberated acid to dissolve fresh portions of oxidized copper. It is, however, the almost universal practice to throw down the copper from its solutions, however obtained, in the metallic state by the use of iron, either scrap-iron or iron-sponge; although in some instances

Jan 1, 1882

By T. Sterry Hunt

Jan 1, 1882