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By R. S. Dean

ALTHOUGH it is obvious that in any flotation process we must have a froth, in recent years the development of collecting reagents has caused the possibilities of better frothing agents to be overlooked. Some investigators have even gone so far as to say that the number of satis-factory frothing agents was sufficient. A little consideration will show, however, that the reagents available in the past were far from ideal frothers. The properties of an ideal frother for flotation work may be set down as follows: 1. It. must form in low concentrations a copious but not too persist-ent froth. 2. It must be insensitive to hydrogen-ion concentration of the pulp; that is, it must froth equally well in an acid or alkaline medium. 3. It must be insensitive to salts, even in high concentration. 4. It must be absolutely noncollecting to both sulfides and nonsulfides. 5. Its frothing properties must not be affected by collecting reagents, including soap, the most generally used nonsulfide collector. 6. It must readily emulsify and disperse any insoluble collecting agent that is likely to be used. Clearly the existing frothers do not qualify. Pine oil, for example, is an acceptable frother for many purposes but if used in soap flotation a delicate balance between pine oil and soap must be struck because, as pointed out by Coghill1, these two reagents are incompatible in certain concentrations. The objections to soap itself as a frother are obvious, and the cresols and their substitution products all have some collecting Dower and very little emulsifying power.

Jan 1, 1935

By A. E. Hilder

Introductory The following pages present the results of field investigations, laboratory and commercial tests, drilling, surveying, and preliminary development of the refractory clays which have been discovered recently in the township of Kipling, at the foot of Long rapids on the west side of the Mattagami river about 57 miles north of Kapuskasing and approximately 7 miles north of Smoky Falls, the terminus of the privately owned railway operated by the Spruce Falls Power and Paper Company, Kapuskasing (see Figure 1). Investigations on the clays of northern Ontario have been carried on over a period of seven years by officers of the Ontario Department of Mines, and I am indebted to the information published by that Department in reports by W. S. Dyer and A. R. Crozier, as well as?by Professor R. J. Montgomery, of the Ceramic Department, University of Toronto. It was, in large measure, the data given in the 37th, 38th, and 42nd Annual Reports of the Ontario Department of Mines that led me to make a personal investigation of the Mattagami River clays, with the result that we now have a commercial undertaking that will develop eventually into an industry of considerable importance in supplying the central manufacturing districts of Canada with refractories that heretofore have been largely imported from the United States. An extract from the 42nd Annual Report of the Department, Part III, 1933, page 75, reads as follows: "As for the refractory clay, the deposits are undoubtedly very large, but what is urgently needed is a deposit near the railway under sufficiently shallow overburden for recovery by stripping'. Having previously made an investigation of the clays adjacent to the Temiskaming and Northern Ontario railway, and these clays proving unsuitable, I turned my attention to the outcrops of refractory clays on the Mattagami river, first reported by Keele in 1919. This area offered possibilities within the economically permissible distance from rail transportation.

Jan 1, 1935

By Ellis S. Hertzog

The relatively large amount of phosphorous occurring in many iron ores limits their usefulness aid sometimes renders them valueless under present conditions of nip-iron manufacture. A practical method for removing the phosphorus would be valuable to the iron and steel industry. Gravity concentration has been of little value as far as the removal of phosphorous is concerned, because the compounds of this element are, as a rule, disseminated very finely. Removal of the phosphorous by leaching is not a new idea and has been the subject of some investigation,3,4/ out for data :lave been published. W.R. Crane published analyse of various ore bodies in the Birmingham ham district. The hard or unleached ores a .re much higher in phosphorous than the Soft, leached ores along the outcrops. This fact indicates that as mild a leaching agent as water removes phosphorus effectively if enough time is allowed for it to react. As the forms in which phosphorous occurs in the iron ores are important in the consideration of any leaching operation, much time was expended in devising a method for determining them. According to Professor McVey, University of Alabama, the phosphorous-bearing minerals in the red iron ores of Alabama have not been positively identified by any microscopic methods.

Jan 1, 1935

By William Plank

In practically all rock-excavation problems there is need for a careful study of the rock structure, its fault, cleavage or bedding planes, and even the texture of the rock itself. These studies should form the bases upon which an excavation method is selected and they should be carefully considered in predicting the amount and extent of the excavation. The need for such studies was forcibly illustrated in the problems involved in a cut made in 1929, along and underneath a 200-ft. high rock projection for a State-highway near the City of Easton, Pennsylvania. The rock mass was badly faulted and also contained a number of cleavage planes at approximately right angles to the fault planes. Much of this structure was visible and could have been studied and analyzed before' the work was begun. The State had rigid specifications as to finished grade and slope of cut, which apparently were made without reference to the geologic structure. The contractor complied with the specifications, under the close inspection of the State engineers. A tunnel blast was, placed in the base of the cliff, with the result that 65 per cent more rock was broken than was intended by the specifications. About four years after the blast, the writers of this paper studied the circumstances surrounding the operation, to determine the cause of this excess excavation.

Jan 1, 1935

By Francis Rich

BEFORE the world-wide depression, the primary purpose of most blast-furnace operators was to produce a maximum tonnage of pig iron per day for each furnace in blast. Some attention was paid to the conservation of labor and raw materials, but the idea was well established that low-cost pig iron was attainable only when each furnace was pro-ducing a high tonnage. After the depression had set in, the picture changed considerably. Each blast-furnace operator was forced to run his plant in a manner that best fitted the economical set-up of his company. A great deal of thought was expended on the different methods of operation, always with the idea of making each product in a way that would best serve his company financially. Because of this abnormal condition, the blast-furnace man was compelled to indulge in various practices of which many had been believed to be next to impossible up to that time. The ultimate purpose of these innovations was either one or a combination of the following: 1. To produce only enough pig iron for immediate consumption at a minimum cost. 2. To produce gas for boiler or mill use to supplant some higher priced fuel. 3. To consume the coke produced at the coke plant, which was often viewed as a byproduct. 4. To protect the cash position of the company. These conditions were met by diverse methods, some of which were: 1. Slow or decreased wind. In some instances the blast blown was held as low as 25 per cent of the normal volume. 2. Intermittent operation, in which the furnaces were shut down or "fanned" at frequent intervals.

Jan 1, 1935

Jan 1, 1935

By Frank G. Norris

Slag control is adjustment of the composition of the slag, especially with respect to the FeO content. The theoretical method of slag control would be to charge a mixture of pig iron and scrap of given composition into the furnace, to melt always at the same carbon, and, after a uniform ore addition, to tap with a constant slag composition. Such conditions are not even approximated. Both scrap and pig iron are of variable, and, in many cases, unknown composition. The charge is oxidized to a variable extent during melting. The result is that the FeO content of the slag, and consequently of the metal at tap, varies over a wide range. In order to make a nearly uniform product, this variation must be compensated for in some way. One way is to adapt the ladle deoxidation to the requirements of the metal. The other is to control the slag. In a general sense slag control may be considered as a method of compensating for variations in the composition of the charge and in oxidation during melting. The method of slag control for low-carbon steel was developed by Dr. Herty at our Butler plant3. Use of this method enables the furnace operator to tap heats at a more nearly constant FeO content and, therefore, to use a more nearly uniform deoxidation practice. The desired FeO and the accompanying deoxidation will depend on the application of the product. This statement implies that 0.10 carbon steel finished with a 15 FeO slag may be essentially different from a 0.10 carbon steel finished with a 30 FeO slag. In making low-carbon steel, the desired carbon places a lower limit on the FeO content of the slag, because the slag must be sufficiently oxidizing for proper carbon elimination. With this degree of oxidation, the phosphorus specification is met without difficulty, and there is little danger of phosphorus reversion. Thus a limiting factor in high-carbon heats is of slight importance in low-carbon heats. For heats of 0.05 to 0.07 per cent carbon, the FeO content of the slag may be controlled at

Jan 1, 1935

By H. H. Schrenk

[A calorimetric method3/ for the determination of benzene in amounts as low as 0.001 m has been developed recently at the U.S. Bureau of Mines Pittsburgh Experiment Station by the authors, with the assistance of chemical personnel from the Allegheny County (Pa.) Relief Works Division. The method is based on the direct nitration of either liquid or gas - phase benzene, followed by neutralization, extraction with butanone, and final treatment with sodium hydroxide which produces a violet color. The color is matched with color standards of known values. Although the method is adaptable to many conditions the primary objective was a procedure that would be suitable for hygienic investigations.]

Jan 1, 1935

By Van Dyne Howbert, Fred E. Gray

The Presidio mine of The American Metal Co. of Texas is situated 45 miles south of Marfa, Texas, a town on the Southern Pacific R. R., and lies approximately 20 miles north of the Mexican border. Communication with the railroad is maintained over a state highway. All supplies for mine and mill are hauled in by truck from Marfa and precipitates and concentrates are freighted to the railroad by the same means and shipped to Selby and El Paso, respectively. The mill is at the town of Shafter, 1 mile from the mine and at approximately 350 ft. lower elevation. The ore is conveyed to it by an aerial tramway which requires practically no power on account of the difference in elevation. The mill is a countercurrent decantation cyanide and gravity concentrating plant of 200 tons daily capacity. Coarse and fine crushing are done at the mill. Two neal-by shallow wells in the bed of Cibolo Creek furnish an abundance of water. Power is generated for the mill and town by a Diesel engine plant. Ore Treated The ore is oxidized and siliceous. The greater part contains approximately 16 oz. of silver per ton, but mixed with this are many particles of ore of much higher grade, assaying in many instances 100 oz. or more. In the 16-oz. material there is an almost constant amount of silver which is difficult to recover by cyanidation. The high-grade material contains a much greater proportion of silver which is easily amenable to cyanide treatment. Thus, as the grade of ore becomes higher, the percentage of recovery of silver increases rapidly, under equal milling conditions. The silver minerals contained in the ore are principally argentite and cerargyrite, the former predominating The lead minerals, all of which are argentiferous, are chiefly cerussite and galena, with occasionally a little anglesite. The gold is free; most of the ore contains merely a trace

Jan 1, 1935

By Charles Barrett

THE copper-silver system presents several points of special interest in the study of segregate structures. The system is simple eutectic, with limited solid solutions terminal with the pure component metals. The extent of solid solubility decreases with decreasing temperature for both the copper-rich and the silver-rich alloys, thus offering a possi-bility for the formation of Widmanstätten figures and also a possibility for aging after quenching. In contrast to the structures studied previ-ously the structures in this system are unique in their; origin, for one terminal solid solution will precipitate the other, and ice versa. In most of the other systems for which crystallographic data on the precipi-tation (or transformation) process are available, either intermetallic compounds or intermediate phases partake in the decomposition process; the absence of such phases thus distinguishes this system. The lattice structures of the two solid solutions are identical in type, differing in lattice spacing by approximately 10 per cent; because of this it seems difficult if not impossible to predict on the basis of present theory either the outward form of the precipitate or the lattice orientation relationships between matrix and precipitate. The eutectic temperature in the copper-silver system1 is 779°C. At this temperature copper -dissolves 4.3 atomic per cent (7.0 weight per

Jan 1, 1935

By B. B. Zavoico

After showing continued and very satisfactory progress until the close of 1931, the oil industry of the Soviet, Union experienced very great difficulties, and since 1932 has not only failed to complete its assigned quotas but has fallen farther and farther behind them, and in fact during 1932 and 1933 Russian production has been below production in 1931. In 1934 the total crude oil production of 169,200,000 bbl. exceeded that of the former peak year, 1931, when 156,100,000 bbl. were produced. The production during 1934 amounted to 78.65 per cent of the plan. The failure to complete the plan has been due to the inability of the oil trusts to develop new fields; the fields that have been producing since 1917 still account for between 75 to 80 per cent of total production. The failure of the Soviet Government to develop new fields has been due to unsatisfactory organization of the geological work, to the extremely slow drilling of wells and their exploitation, and to the very much delayed development of the few areas that have been discovered. The official overestimation of the proven reserves of the country has undoubtedly been an important factor in giving the Soviet industry too much confidence when actually such reserves have been small. The official Soviet estimate of proven reserves of Russia is now placed at 21,000,000,000, bbl., while in fact such reserves, if estimated on a conservative basis, do not exceed 4,200,000,000 bbl., as will be shown later in this review. The refinery branch of the industry also showed unsatisfactory results with a recovery of gasoline, both straight-run and cracked, of only some 16 per cent of the total runs to stills. In fact, the showing of the refineries has been so unsatisfactory that the exports of gasoline have been greatly curtailed from 1933 to 1934, dropping to 10,000,000 bbl. in 1934 from 12,230,000 bbl. in 1933. With the indicated increase in domestic demand, together with but slightly increased refining capacity, the volume of available gasoline for export probably will be reduced to about 6,000,000 bbl. during 1935. The geographic distribution of constructed refineries has been unsatisfactory and the crude oils from Baku had to be transported by tankers

Jan 1, 1935

By Alice V. Peter

The rare-earth group are among the least familiar of the 92 known elements. Moreover, the relatively few people who have even heard of the rare earths ordinarily regard them merely as very rare elements having unusual names but doubtful commercial application. This typical attitude can be attributed partly to the fact that no commercial uses have been developed for most of the members of the group and partly to the fact that those which do enter into useful articles do so anonymously. Most people speak with a degree of familiarity of the "chromium" plating on their automobiles or household appliances; "antimony" ash trays and cigarette boxes are on sale in many department stores; and "tungsten" lamps and even "molybdenum" steels are advertised in popular magazines. However, the average user of a pocket cigarette lighter is not conscious that the important sparking element is a "flint" made from ferrocerium, and if he does chap on to inquire about the composition he is likely to be told that it is "sparking alloy", "misch metal", or 'pyrophoric alloy." Similarly, the wearer of spectacles made of "Crookes" or other tinted glass probably is not aware that the light softening effects are due to the presence of rare-earth oxides, or that the arc light on his street may owe its brilliance to cerium fluoride in the carbon electrode. Despite a variety of practical applications, however, most of the rare-earth metals still must be listed as scientific curiosities. In fact, little is known as to the properties which may make them useful products at some future date. Meanwhile it is important to note that Nature has been relatively generous in her distribution of the rare earths and that adequate supplies of most of them will be forthcoming when these elements have proved their worth as commercial products.

Jan 1, 1935

By W. C. Lilliendahl, H. W. Highriter

The method developed and used in this laboratory for the production of metallic uranium of such purity that it is ductile and can be cold-worked to fine wire or thin sheet by rolling has already been described1. It consists, briefly, in the electrolysis of potassium uranous fluoride (KUF5) in a molten bath composed of equal parts of sodium and calcium chlorides. The bath is contained in a graphite crucible, electrically heated to about 775° C., the crucible serving as the anode for electrolysis. The uranium deposits in finely divided form mixed with salts upon a molybdenum cathode suspended axially in the crucible. Upon completion of the electrolysis the cathode is removed and cooled, the deposit broken and leached to remove salts. The metal powder is washed with water and dilute acetic acid and dried in vacuo to reduce oxidation. Suitable amounts are then prcssed into pellets and heated in vacuo by high-frequency induction, using a thoria crucible. The uranium melts and flows away from the pellet, leaving a shell, which is largely oxide. In general, this method produced a satisfactory metal, although at times tile uranium was not ductile. The investigations recorded here were made to find the cause of this embrittlement. It was known that the metal generally contained carbon, derived from disintegration of the graphitc crucible in which electrolysis is conducted, in amounts dependent upon the thoroughness of washing the metal powder. Accordingly, analyses of several samples, both ductile and brittle, were made by combustion and absorption of CO² in Ascarite, using air instead of oxygen to reduce the temperaturc and rate of oxidation. Several of these metals were made with special precautions to reduce carbon content. The results show no relationship between ductility and carbon content in the range investigated (Table 1). Microscopic examination of ductile and brittle metals disclosed the presence in the latter of an intergranular constituent, harder than the matrix and less easily oxidizable, which was absent from the ductile material. Rough estimates of the volume of the hard constituent

Jan 1, 1935

By A. C. Fieldner

The Sectional Committee on Classification of Coals, functioning under the sponsorship of the American Society for Testing Materials and the rules of the American Standards Association, in its 1934 report recommended to the American Society for Testing-Materials5 that Specifications for Classification of Coals by Rank be adopted as tentative. These specifications, slightly modified as recommended by the Sectional Committee, in its 1935 report,6 wore approved as tentative standards by the society in 1935. The specifications rover the classification of coals according to their degree of metamorphism, or progressive alteration, in the natural eerie s from lignite to anthracite. The basic scheme of classification is according to fired carbon and calorific value (expressed in B.t.u.) calculated to the mineral-matter-free basis. The higher-rank coals are classified according to fixed carbon on the dry basis, and the lower-ran]: coals according; to B.t.u. on the moist basis, that is, containing its natural bed moisture but free of visible surface moisture. Agglutinating and weathering indices arc used to differentiate between certain adjacent groups.

Jan 1, 1935

By H. W. C. Prommel

While Utah remains an unimportant factor in oil production, exploratory drilling was carried on in six widely separated areas, extending from the southwest to the northeast corner of the state. One new gas field, the Last Chance or Starvation Creek anticline in Emery County, and two new gas horizons in the Clay Basin field of Daggett County, were thereby discovered during 1934. Exploratory Drilling South Central Utah Emery County—Last Chance Anticline.—The test of the Ramsey Petroleum Corporation in sec. 18, T.26S., R.7E., on the apex of this anticline (vert. closure 700 ft.; area within closing contour line, as mapped by U.S. Geological Survey, 26,000 acres) encountered gas in the Moenkopi formation of lower Triassic age at depths ranging from 2530 to 2863 ft. The total thickness of sandstone, sandy shale and -limestone beds in which gas was encountered is approximately 50 ft. The well was tested at a depth of 2755 ft., gaging 21,000,000 cu. ft. of gas, R.P. 410 lb. The well is being plugged back to the lowest gas horizon at 2771 ft. from a total depth of 3168 ft. Gas from this well probably will be used for the drilling of a second well structurally lower, to test the oil possibilities of the Moenkopi formation as well as of the upper and lower Pennsylvania formations, of which the latter so far remains untested in South Central Utah. The well was not drilled deep enough to determine more definitely the western margin of the petroliferous Paradox Basin of lower Pennsyl-vanian age of southeastern Utah. Woodside Anticline.—This field, lying immediately northeast of the San Rafael swell, contains, according to maps of the U.S. Geological Survey, 8380 acres within its lowest closing contour line 700 ft. below the apex. A well was drilled by Utah Oil Refining Co. at the apex in sec. 12, T.l9S., R.l3E., during 1924. Gas was encountered in the Moenkopi and Kaibab formations of Triassic and Carboniferous (Permian) age respectively. The flow is estimated at 21,000,000 cu. ft., R.P. 900 lb.,

Jan 1, 1935

By Will H. Coghill, J. Bruce Clemer

Flotation has been so closely allied with the sulfide minerals and their early and associated oily reagents that the term "oil flotation" has erroneously been applied to the entire flotation process. Today, the term "chemical flotation" might be used to advantage. Flotation literature has dealt primarily with the removal of sulfides from non-sulfide gangues, and the separation of one sulfide from another. Now, the application of the process to the separation of nonsulfide minerals is coming to the fore; and from the standpoint of the number of commercial minerals involved, the flotation of nonsulfides offers the larger field. Here, soap or soap-forming substances, such as the fatty acids and their derivatives, are used; hence there may well be a subdivision of the chemical flotation process called "soap flotation." Early experimenters learned that it was easy to form a froth or foam that would carry a part or all of the ore charge over the lip of the flotation machine; but this could not be regarded as flotation because of the lack of selectivity. Doubtless soap was one of the first reagents tried, and doubtless it was rejected on account of its gangue-carrying properties. Now this same gangue-carrying ability makes soap an acceptable reagent, for we are dealing with that which, among sulfides, is considered "gan-gue." As in the flotation of sulfides, so in the flotation of nonsulfides, the selective flocculation of the mineral and the dispersion of the gangue are the first objectives. In fact, these two phenomena epitomize flotation. They depend upon the unlike surface properties of the respective minerals; and as long as the components of an ore have unlike surface properties, a separation is possible, at least in theory. Often in nonsulfide flotation it makes little difference which mineral floats and which is depressed; generally only a separation is sought.

Jan 1, 1935

By C. S. Smith, E. W. Palmer

For several years an investigation has been in progress in the research laboratory of The American Brass Co. to determine the thermal and electrical conductivities of most copper alloys of commercial importance and several of scientific interest. This paper contains such data on the binary alloys of copper with silicon, aluminum, manganese and nickel, and on a large number of ternary or more complex alloys. Some interesting general relationships between the thermal and electrical conductivities for all copper alloys at all temperatures are pointed out. The data for the copper-zinc, copper-phosphorus and copper-tin binary systems have already been published1,2 † except for the electrical conductivity at 200" C., which is given in the appendix of this paper. Literature on Thermal Conductivity of Copper Alloys The papers referred to above contained a summary of the figures available in 1929 for the thermal conductivity of copper alloys. There is given in Table 1 herewith a selection of the data that have appeared since that time. The measurements of Hanson and Rogers3 are particularly interesting since they cover a series of alloys in the alpha solid solution range and show the effect of heat-treatment. Their alloys were tested as annealed castings, and are not therefore directly comparable to the worked alloys measured in the present investigation, although the difference is small. Bailey's determinations4 were carried out on the alloys used by Lees6 in 1906, and extend his results to higher temperatures. It is most unfortunate that the alloys were not analyzed, for the approximate compositions given are hardly sufficient identification of the material. It is equally to be regretted that neither Hanson and Rogers nor Bailey give data for the electrical conductivities of their samples. Sager6, using the heat-wave method of King, determined the thermal conductivity of copper, nickel and four alloys of the two metals. His results are included in Table 1.

Jan 1, 1935

THE 143d* meeting of the American Institute of Mining and Metallurgical Engineers was held in New York, Feb. 19-22, 1934. It consisted of the annual business meeting, 45 technical sessions at which 217 papers were presented (more than ever before), two sessions of the Board of Directors, two meetings of Section delegates, three formal lectures, luncheon Monday, Tuesday and Wednesday for members and guests, three group dinners and five group luncheons, eight committee meetings, the annual reception and dinner dance, an informal dance, a smoke-dinner and the annual meeting of the Woman's Auxiliary. Attendance showed an improvement over the previous year, as follows: Total, 1534 in 1934, and 1475 in 1933; dinner dance, 543 and 426; smoker-dinner, 425 and 394; informal dance, 295 and 250; women's registration, 160 and 133; luncheons, 1034 and 734. The Coal Division held a general session and three sessions on Coal classification. It also met jointly with the Committee on Ground Movement and Subsidence. At the general session, John B. Dilworth presented a report of the Committtee on Methods of Valuing Coal Proper- ties and R. H. Sweetser a report of the Committee on Evaluation of Coal for Blast-furnace Coke. C. B Huntress, Executive Secretary of the National Coal Association, was the principal speaker at a luncheon on Monday, at which Eli T. Conner, Chairman of the Division, presided H. N. Eavenson, newly elected President of the Institute, and Edward W Parker, Secretary-Treasurer, of the Anthracite Institute, also spoke. The Executive Committee of the Division met Tuesday afternoon. The Sectional Committee on Classification of Coal met on Thursday morning and the Technical Committees on Scientific and Use Classification of Coal on Thursday afternoon. The Committee on Mining Methods held two general sessions, one for presentation of a half-dozen interesting papers on strictly mining subjects, the other on Aerial Transportation. It also participated jointly in a session on ground movement and subsidence with the committee of that name and the Coal Division The Institute's Standing Committee on Aviation had its inception at the session on Aerial Transportation

Jan 1, 1935

By Charles S. Barrett, Herman F. Kaiser, Robert F. Mehl

The copper-silver system presents several points of special interest in the study of segregate structures. The system is simple eutectic, with limited solid solutions terminal with the pure component metals. The extent of solid solubility decreases with decreasing temperature for both the copper-rich and the silver-rich alloys, thus offering a possibility for the formation of Widmanstätten figures and also a possibility for aging after quenching. In contrast to the structures studied previously the structures in this system are unique in their origin, for one terminal solid solution will precipitate the other, and vice versa. In most of the other systems for which crystallographic data on the precipitation (or transformation) process arc available, either intermetallic compounds or intermediate phases partake in the decomposition process; the absence of such phases thus distinguishes this system. The lattice structures of the two solid solutions are identical in type, differing in lattice spacing by approximately 10 per cent; because of this it seems difficult if not impossible to predict on the basis of present theory either the outward form of the precipitate or the lattice orientation relationships between matrix and precipitate. The eutectic temperature in the copper-silver system' is 779" C. At this temperature copper dissolves 4.3 atomic per cent (7.0 weight per cent) of silver in solid solution; this solid solubility decreases to zero at room temperature.² Silver at the eutectic temperature rctains 14.0

Jan 1, 1935

By Ernest Gayford

When the United States Government started buying gold at varying prices per ounce, set by the President and the Treasury Department, the gold miner found himself facing new conditions, as gold became a commodity with a fluctuating market price. While it was self-evident that the miner was to receive more for his gold than the old established price of $20.67 per ounce, there was an element of uncertainty, which made it difficult, and perhaps dangerous, to decide to invest his time and money to produce gold, especially if the profit would represent only the difference between $20.67 an ounce and the new price as set from day to day by the Government. When, however, on Jan. 30, 1934, the United States went off the gold standard, the price of newly mined gold being rather definitely set at $35 per ounce, with some assurance that the price would be maintained at or near this figure for a long time to come, the gold miner was justified in revaluing his property on the basis of the new price, and the prospector was offered inducement to spend his time and energies hunting for new mines, or going back to old locations previously abandoned as of doubtful value. It is interesting to see what this new price means to the producer of newly mined gold, and how much of the increase is passed on to the producer. It will be found that, as with the base metals, the nearer he can get to producing a finished product himself the greater his reward will be; the net returns for bullion being necessarily higher than for the same amount of gold shipped in concentrates to the smelter. Bullion can be shipped to the United States mints or Government assay offices under the following terms and conditions. An affidavit must accompany the shipment, stating, among other things: 1. The source of the gold; whether ore, tailings or placer. 2. The tons of ore, tailings or cubic yards of gravel from which the shipment was recovered.

Jan 1, 1935