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By Edward Jeffrey

THE use of coke in metallurgy, to any important degree, dates from the middle of the 18th century. Its utilization came most opportunely for European civilization. The forests of Europe, except in the most remote and inaccessible regions, had been largely fed, in the form of charcoal, into the smelting furnaces. For a hundred years-the middle of the 17th to the middle of the 18th century-there was a stationary condition of population corresponding to the exhaustion of European forests. This situation, which was particularly evident in Great Britain, was due to the fact that the forests had been depleted and the practical utilization of coke had not begun. The coking industry is essential for our metallurgical industries, which in turn are basal to healthy economic progress. But coke is of great importance, not only on its own account, but for its byproducts, which enter fundamentally into all the arts of peace and war. The dyestuff industry and the manufacture of explosives are intimately connected with one another, as was shown by the recent war. The subject of coking coal, therefore, is well worthy the serious attention both of practical industry and the scientific investigator. The most valuable coking coals, from the metallurgical standpoint, are derived from the coals of highest ranks. Coals, for example, that have a carbon ratio of from 70 to 80 per cent. yield the most valuable coke for the blast furnace. The difficulty of investigating these coals, however, is great, for they are rather friable and delicate and possess a high carbon content, which makes them difficult to manipulate. They present, on account of their high carbon content, a considerable degree of opacity when examined, in thin sections, under the microscope. The tenderness of structure and blackness of such high-grade coking coals as those of Connellsville and the Pocahontas region make them extremely difficult to investigate.

Jan 1, 1925

[YEAR OF ELECTION 1913. FRANK DAWSON ADAMS Montreal, Canada. 1921. WILLIAM CUTHBERT BLACKETT Sacriston, Durham, England. 1920. HENRY STURGIS DRINKER Merion Station, Pa. 1921. FERDINAND FOCH Paris, France. 1922. FEDERICO GIOLITTI Torino, Italy. 1888. HATON DE LA GOUPILLIERE Paris, France. 1906. SIR ROBERT A. HADFIELD London, England. 1921. FRANK WILLIAM HARBORD London, England. 1921. HEINRICH' O. HOFMAN Cambridge, Mass. 1917. HERBERT HOOVE:Stanford University, Cal. 1919. ROBERT W. HUNT Chicago, Ill. 1915. JAMES FURMAN KEMP New York, N. Y. 1905. HENRI LECHATELIER Paris, France. 1921. C. MCDERMID London, England. 1913. EZEQUIEL ORDONEZ Mexico City, Mexico. 1909. ALEXANDRE POURCEL Paris, France. 1911. ROBERT H. RICHARDS Boston, Mass. 1906. JOHN E. STEAD Middlesbrough, England. 1907. CHARLES D. WALCOTT Washington, D. C.] [ ]

Jan 1, 1925

By H. S. Geismer

Campbell,' in 1896 said: "The Birmingham district in Alabama has certain great advantages for there are few places in the world where fuel and ore are so near together, although, unfortunately, both are of inferior quality; the ore being low in iron and high in phosphorus and the coal giving a weak and impure coke." This statement could not have been questioned in 1894, but by 1896 several Robinson-Ramsay washers had been put into operation and weak and impure coke was a thing of the past. The Warrior coal field of Alabama contains six seams that yield coking coal of excellent quality. In descending order, they are Brookwood, Milldale, Pratt, America, Mary Lee, and Black Creek. In each of these, however, bands of rock and bone coal of varying thickness are stratified with the coal; and while some of these impurities can be separated from the coal by the miner, much of it must be loaded out with the coal. Consequently, unless the coal is washed before being coked, it will yield a coke of varying ash and sulfur content quite unsatisfactory for blastfurnace use. At present, the Gulf States Steel Co. is producing run-of-mine coal at its Virginia mine, from the America seam, that is uniformly low enough in ash to permit of coking without washing, but this is the only exception to the above statement. Alabama was the first state to experiment seriously with coal washers, was the first to install washers on a large scale and, up to the present, has maintained the lead. The Alabama State Mine Inspector reports that during 1923 20,919,303 tons of bituminous coal was mined in Alabama; 12,858,499 tons of which was delivered to coal washers for treatment.

Jan 1, 1925

By Earl C. Henry

Magnetic iron ore was mined in Essex County, N. Y., during the American Revolution; Benedict Arnold is said to have mined ore near Port Henry to secure iron for chains and spikes for the Lake Champlain fleet. Details regarding the operations prior to 1804 are not easily obtained but work on a commercial scale appears to have been started about 1838. The Witherbee, Sherman & Co. was established in 1849. The property of the district is held in fee almost entirely by the mining companies. The Mineville iron-ore district, as well as the entire Adirondack region, belongs to the pre-Cambrian complex. The readily identified rocks consist of gabbro, anorthosite, syenite, and granite, and are classed as igneous, eruptive, and intrusive. In addition, there is a great variety of gneisses, rocks with a variable mineral composition but all more or less distinctly foliated. The Grenville series are the oldest rocks in the district; this series consists of graphitic white limestones, graphitic sandstones, and quartzites and gneisses with or without graphite. The orebodies occur in the gneissic rocks and are comformable to the structure of the rocks. The typical occurrence of the ore in this district is in lenticular bodies with a parallel pitch to the southwest; this structure is best exemplified in the New Bed mine. The Harmony and Old Bed orebodies are faulted by two sets of diabase dikes, one set having a southwest strike and the other set an east-west strike. The ores occurring in the acid gneissic rocks are non-titaniferous. The ores occurring in the gabbros and anorthosites are high in titanium; these deposits are irregular, have no structural relation with one another, and are unquestionably of igneous origin. The origin of the gneissic rocks and the ores therein contained is not settled; both the sedimentary theory of ore concentration and the igneous theory of magmatic segregation have been advanced. The iron mineral in all the orebodies is crystalline magnetite; some very perfect and large specimens have been obtained. The gangue is

Jan 1, 1925

By Robert M. Betts

The Cornucopia district is situated in northeastern Oregon 25 miles from the Snake River branch of the Oregon Short Line R.R. and 75 miles northeast of Baker City, in the Wallowa Mountains. The formation is principally granodiorite, which has intruded much older rocks locally known as greenstone, and which are probably altered schists. In the upper horizons of the veins, greenstone is found as inclusions in the granitic mass. Both of these formations have been cut by numerous basalt, aplite, and porphyry dikes. Veins of the district are the result of faulting and the consequent crushing of the wall rock. The ore has been deposited irregularly along these faults and formed a lenticular type of vein. The ore varies in width from a few inches to 20 ft.; the average stoping width is about 5 ft. As the basaltic dikes are subsequent to the ore deposition, they are at times a hindrance in development and mining operations; on the other hand, a dike which has followed a vein as a line of least resistance often serves as a good mall in place of the crushed, rather loose granite. The veins generally strike northeast-southwest and dip about 35" to the west. Orebodies are from 100 to 300 ft. in length and about the same in height. The lenses are irregular; inclusions of wall rock are common in the ore and are a factor in reducing the grade. The ores are quartz, carrying some free gold near the surface, but the metals for the most part are in iron sulfides, sometimes associated with chalcopyrite. The gold and silver are in a mechanical combination with the iron, which requires find grinding to liberate them. The ratio of silver to gold is 5 to 1, by weight. Development The Cornucopia Mines Co. owns, and operated until 1920, two mines and two mills of 100 tons capacity each. The sustained high costs and labor shortage, however, necessitated the abandoning of the Union mine, the oldest in the district. Two crosscut tunnels were then started, first, to cut the Last Chance vein at a much lower horizon and, second, to prospect two parallel veins. The ore from the Last Chance vein will go to the old Union mill and the ore from the new veins to the Last Chance mill.

Jan 1, 1925

By Charles E. Lees

The Globe Mining District is in the southeast central part of Arizona, in Gila County. Globe, with a population of about 7000, is the terminus of the Arizona Eastern R.R., a branch line 130 miles long that connects with the Southern Pacific R.R. at Bowie. In 1874, prospectors crossing the Pinal Mountains from the west located what is generally known as the Old Dominion mine. For several years, it attracted little attention, because of the greater interest aroused by the discovery of high-grade silver ores in some of the foothills northeast of Globe. About six years later, the prospector turned his attention to the abundant copper ore revealed by surface workings along the Old Dominion vein, and, in 1884, the Old Dominion company erected two 30-ton furnaces. From 1888 to 1893, the Old Dominion company is said to have maintained an average annual production of about 8,000,000 Ib. of copper. Until Dec. 1, 1898, all supplies had to be freighted into Globe by wagons and the mines of the district operated intermittently because of high expenses, but with the advent of the railroad the Old Dominion company continued to be a large and steady producer. In the Globe district, the production of copper far exceeds in importance that of any other metal. There are four operating companies along the Old Dominion vein and the total annual product of these properties for 1923 was about 45,000,000 lb. of copper. The unit size of the mineral tracts in the district is the regulation mining claim, 600 ft. wide by 1500 ft. long, and all ownerships are held in fee. Globe is 3600 ft. above sea level, and lies between the Apache MOUntains to the east and the Pinal Mountains to the west. The principal drainage of the district is northward through Pinal creek into the Salt River. The general slope from the high point along the vein, where the Superior & Boston mine is, to Pinal creek, where the Old Dominion mines are, is about 250 ft. to the mile. Geology The oldest rocks in the district are pre-Cambrian crystalline schists known as the Pinal schist, which are the basement upon which all the later rocks were deposited. These latter rocks comprise shale, con-

Jan 1, 1925

By J. E. Jopling, J. R. Chenneour, E. L. Derby, S. R. Elliott

The Marquette range, on which are situated the iron mines of Mar-quette County, together with a few in Baraga County, Mich., extends from a point 10 miles southwest of Marquette westward for 30 miles. The tracts are usually a multiple of the standard 40-acre parcel, which is the smallest government subdivision of a square mile or section. About half of the mines are held in fee, these being owned by the older mining companies. Some of them date back to about 1880, and a few are as early as 1850. During the past 40 years most of the mines opened have been on leased lands, the royalty being either for a stated amount per ton or a percentage of the selling price of the ore at the lower lake ports, or the selling price on board of cars at the mine. The first merchantable body of ore discovered in the Lake Superior district was found, in 1845, at what is known as the Jackson mine, near Negaunee. This ore was hard hematite. After unprofitable attempts had been made, in 1848, to smelt it in forges, shipments were begun to lower lake ports, which increased rapidly upon the completion of the locks at Sault Ste. Marie, in 1855, and the railroad from the mines to Marquette, in 1857. Beginning with the Pioneer, in 1858, a number of small charcoal furnaces were built to smelt a part of the product. At various points in the upper and lower peninsulas, large charcoal furnaces are still making iron from the ores of the Marquette range. In connection with these furnaces are byproduct plants. As the deposits were opened up, soft ore was encountered, but for a few years this was disregaided, as only the hard ore was used. Underground mining was begun about 1880 and during the next few years the open-pit mines producing high-grade ore were exhausted. The first mines in the district were owned by the Jackson, Cleveland, Lake Superior, Lake Angeline, Champion, Iron Cliffs, Humboldt, Republic, and Michigamme companies. Many of these companies have been merged in the holdings of The Cleveland-Cliffs Iron Co., which controls most of the tonnage of the district.

Jan 1, 1925

By Lester C. Uren

Petroleum occurs, in nature, as a fluid saturating the pore spaces between the grains of porous rocks or aggregations of rock particles such as sand, sandstone, conglomerate, shale, limestone, etc. The oil, under the influence of gas pressure, hydrostatic pressure, gravity, earth pressure, and, perhaps, other natural forces, is caused to flow through the porous "reservoir rock1' into wells penetrating the stratum in which the oil occurs. The principal moving force is the pressure of dissolved or occluded natural gas within the oil, though this force is assisted by gravity and by the hydrostatic or buoyant pressure of ground water about the edges of the "pool." The wells, providing outlets to the surface, are centers of reduced pressure and the flow of rock fluids into a particular well is usually an expression of the difference in pressure existing between the space within the well and that of the stored oil within the reservoir rock. The greater this differential pressure, the more rapidly will oil flow from the source rock into the well. Opposing movement of the oil from the reservoir rock into the well are certain natural forces related to the rock structure, such as pore friction and capillarity, and certain others related to the physical properties of the oil, such as viscosity and adhesion. The differential pressure between the well and the boundaries of the area drained by it must be sufficient to overcome the forces opposing flow if there is to be movement of oil into the well. If by any device the resistance to movement of the oil may be reduced, the oil will flow into the well at a more rapid rate and the effective area of drainage will be increased.

Jan 1, 1925

By R. C. Wallace

It was to be expected that the convening of the first Empire Mining Congress in June, 1924 in the city of London would turn men's thoughts very definitely to the question of exploring the mineral resources within the British Empire, the examining of her strength and her weakness in mineral material, and the consideration of steps that might advisedly be taken to strengthen her trade in minerals. That expectation was in part realized, though in the British way of presenting the case, and permitting the inferences to be drawn by implication. The opening address by the President of the Congress, to whom the Empire meant so much, gave a résumé of the contributions to the mining industry which were being made by the constituent parts of the Empire. The papers from the Institutes in Australasia, South Africa and Canada provided the details of resources and practice: while the individual contributions to the proceedings dealt with those phases of the mineral industry which are fundamental to the economic strength of British people, or to the health and well-being of the workers. While the subject matter thus presented was British mineral resources, and while the first consideration was the co-ordination and co-operation of British enterprise throughout the world, there emerged very clearly the wider viewpoint that the discussions had to do with a world industry, and with the contributions that that industry was making, and could further make, to the advancement of civilization irrespective of national boundaries, the world over. The invitations to representatives of the mining industry from the United States to participate in the Congress, and the warmth of approval which that participation evoked, were indications that such a congress cannot to-day be merely national in scope, and that trade in minerals, as in other natural resources, cannot be confined within national boundaries, but will seek its channels, unless artificial obstructions are too great, where the natural channels already exist.

Jan 1, 1925

By Fred Jones

The Cripple Creek district is in Teller County, Colo., about 18 miles in an air line west of Colorado Springs and at an elevation of 10,000 It. A line drawn through Colorado Springs and Pikes Peak will, if continued, about pass through the district. The character of the country generally is rolling, with few trees and little snow fall. The annual precipitation is about 20 in. All the water used by the mines is supplied by the Altman Water Co., which pumps from the west slope of Pikes Peak. Gold was discovered in 1891, since which time the district has produced $411,000,000. The peak of production was reached in 1900 and amounted to $25,000,000. At present the production amounts to about $400,000 per month. Geology In general, the geology of the district is simple; ash veins and dikes traverse a volcanic plug of breccia. The ore occurs as enriched spots along these dikes and veins. The dikes represent the most recent extrusions and consist of basalt and phonolite. (For a complete geological description reference is made to Professional Paper 54, 1906, of the U. S. Geological Survey.) The ore consists of small parallel seams of high grade. In only a few cases is the gold disseminated through the rock; much of the gold in the broken ore is found in the fines. The wall rock is hard blocky granite or breccia. About 25 per cent. of the rock mined is shipped as ore to the Golden Cycle mill at Colorado Springs. The height of an ore deposit is usually several times its length. Few flat oreshoots have been found. The veins are all steep and have a dip of 70 to 80°. Development The claims are all 300 by 1500 ft. and are held by location or patent. All mining is done through shafts, one of which has reached a depth of 2600 ft. The main working shafts are 41/29 by 1335 It. and are made up of three compartments, each 4 by 41/2 ft. in the clear. They are timbered with 10-in. Oregon posts and plates and 8-in. spreaders. Two compart-

Jan 1, 1925

By A. Werenfels

No PETROLEUM, in commercial quantities, is found in France except the small production of the Pechelbronn field (Fig. 1) in Alsace, which produced 75,000 tons in 1923; therefore the test of the petroleum prospects of the Limagne is most interesting. Under the superintendence of M. Termier, chief engineer of the French mines, a well near Crouelle (Fig. 2) was drilled in 1921 to a depth of 856.3 m. (2808 ft.); at different depths favorable showings were encountered. The well, however, was abandoned because of drilling difficulties. A second one is now being drilled near the same place.

Jan 1, 1925

"The Tooele plant is situated at the mouth of Pine Canyon, five miles northeast of Tooele City. The site forms one terminus of the Tooele Valley railway, which runs southwest through Tooele City to Warner, a station on the Los Angeles and Salt Lake Railroad, thirty-five miles southwest of Salt Lake City.An aerial tramway, four miles in length, crosses the Oquirrh Mountains and connects the plant with the Bingham district.The plant consists of a lead-zinc flotation concentrator, lead smelter and copper smelter.SAMPLING MILL The mill is a standard Taylor and Brunton sampling mill, built in two sections, each with a capacity of 100 tons per hour. The building is of steel and concrete, 40x84 feet. A well-equipped pulping, sampling and drying room is attached.All ore is sampled here and then distributed by conveyors to cencentrator, lead smelter and copper smelter bins.CONCENTRATOR This flotation mill is arranged in two units of 500 tons capacity each, one equipped with Callow pneumatic flotation cells, the other with Mineral Separation sub-aeration machines.The feed is maintained as uniform as possible by bedding, after coarse crushing at the sampling mill. Standard practice of ball mill grinding and classification is followed."

Jan 1, 1925

By R. V. Wheeler, W. Francis

Of the methods that have been used for studying the chemical composition of coal, attack by reagents has not, in general, yielded much information. Most of the reagents used have been strong oxidants such as nitric acid or Schulze's solution. The use of a milder oxidizing agent, such as air at low temperatures, enables progressive changes in the character af the coal substance to be studied and thus helps toward an understanding of its constitution. British bituminous coals frequently have a banded structure. These bands (of four types) can be separated one from another and have been found to possess markedly different chemical characteristics, even when taken from contiguous portions of the same lump coal. It has been found convenient to give each of the ingredients of banded coal a distinctive name, more or less descriptive of its appearance, and the study of the chemistry of bituminous "coal" in England has resolved itself into a study of each ingredient separately. The coal chosen for this work was taken from the Top Hard seam at East Kirkby colliery, Nottinghamshire, a detailed chemical analysis of which has been recorded by Baranov and Francis.' The banded structure was well marked and the bands could readily be separated. The research was confined to the brilliant vitreous bands (vitrain), the dull hard bands (durain) and the "sooty partings" main); for previous work had shown that the fourth type, to which the name clarain has been given, is intermediate in character, chemically, between vitrain and durain. The method of experiment was, briefly, to draw a slow current of moist air through weighed samples (50 gm.) of the three ingredients, vitrain, durain, and fusain, in the form of powder (through a 60-mesh and on a 90-mesh sieve) contained in glass tubes which could be maintained at a constant temperature during prolonged periods. After passing through the coal, the air bubbled into a measured volume of

Jan 1, 1925

By G. D. Van, Arsdale

IT IS particularly appropriate that a paper on this subject should be presented in Spanish, before a Spanish speaking audience, and in a South American country, first because of the facts that these countries today have not only the largest copper leaching plant in existence but also present great opportunities for future extension of hydrometallurgy; and second, because of the fact that the first copper made by any wet method was doubtless produced before existing records at the Rio Tinto deposits in present day Spain.

Jan 1, 1925

By A. J. M. Ross, R. G. Wayland

The Homestake mine is situated in Whitewood mining district, in the northern Black Hills of South Dakota, in the city of Lead, Lawrence County. The entire property, comprising 557 lode claims with a total area of 3343 acres, is held under United States Patent. The older claims were 300 by 1500 ft. under local regulations, the newer ones 600 by 1500 ft. The Homestake was discovered April 9, 1876, by Moses and Fred Manuel, and Jake Harney, who were drawn into the northern hills, from the Custer placer district, by news of the discovery of rich placer deposits in Deadwood Gulch. They located a number of additional lode claims and, in a short time, the whole country was covered with locations. The Manuel brothers built an arrastre the following winter and took out $5000. The next year the Homestake lode was sold to Senator George Hearst and associates, who organized the Homestake Mining Co. Other companies were formed to exploit other groups of claims and at one time fivc companies were operating on this deposit, the Father DeSmet, the Dead-wood-Terra, the Caledonia, the Highland, and the Homestake Mining Co. These companies, however, have been merged into the Homestake Mining Company. The first stamp mill, known as the "Eighty Mill," commenced operation on July 12, 1878, and production has been nearly continuous since that time. Geology The orebodies of the Homestake are found in an intensely folded and altered bed of dolomitic limestone occurring in a series of ancient rocks believed to be of Archean age, belonging to the Keewatin series. The Keewatin series is estimated to be 20,000 ft. thick and is made up essentially of quartz mica schists, garnet schists, quartzites, slates, and some green schists, probably derived from basic igneous rocks. The dolomitic limestone bed has a thickness of 40 to 60 ft. The great width of ore, as much as 400 ft. in some of the stopes, is due to the folding, wherein the bed is repeated. In other cases the bed is stretched and pinched out. Dikes of Tertiary rhyolite cut across the country and, in places, sills overlie the

Jan 1, 1925

By Galen H. Clevenger

Although there are exceptions, oxidized silver ores containing the higher oxides of manganese are generally refractory to hydrometallurgical methods of treatment. When these ores are of high enough grade they can be smelted; indeed, some rather low-grade ores of this type have been smelted at a profit because of their fluxing value. In the past, when these ores could not be smelted, they either were not treated or were treated at low efficiency, generally by cyanidation. The need for thorough investigation of the problem was therefore evident for some time before the writers began their research. The problem of treating manganese-silver ores seems to have been recognized first about 35 years ago by C. W. Goodale in applying pan amalgamation at Tombstone, Ariz. He attributed the low extraction of silver to the fouling of the mercury by manganese rather than to the presence of a refractory compound of manganese and silver. Although definite knowledge as to the cause of the poor extraction of silver was lacking, a more or less effective preliminary treatment, that is, a chloridizing roast, was applied.

Jan 1, 1925

By E. A. Holbrook

The data in this bulletin were obtained during an investigation of screening practice by the University of Illinois engineering experiment station and the United States Bureau of Mines under a cooperative agreement between them and the State of Illinois Geological Survey Division. Earlier work on this subject includes a study of the general practice of coal preparation in Illinois, made in 1914 and published in 1916,1 and an investigation of Illinois coal-washing methods, results of which were published in 1912 in a bulletin 2 that contained complete information on the methods then in use for sizing washed coal. OBJECTS OF THE INVESTIGATION The present investigation was limited to a study of screening as applied in preparing mineral products with the expectation of obtaining more comprehensive information on screening machinery.

Jan 1, 1925

By Oliver Bowles

Accidental explosions in coal mines are due to various causes, but many of them can be directly attributed to coal dust; others that probably in no way depend on dust as a primary cause are propagated, greatly intensified, and made more disastrous by the presence of coal dust. The fact that coal dust in a bituminous mine will explode as a result of a fire-damp explosion has been generally accepted for many years, but the belief has also been held by many that coal dust is not in itself dangerous when unmixed with an explosive gas. Therefore, in past years little attention was given to dust in mines free from fire damp, and many disastrous explosions have resulted from lack of knowledge of the danger from coal dust. In the explosives gallery and experimental mine of the Bureau of Mines experiment station, Pittsburgh, Pa., it has been proved repeatedly and conclusively that coal dust will explode violently when no inflammable gas is present. PROPAGATION OF DUST EXPLOSIONS A coal-dust explosion is an extremely rapid burning or combustion of the coal particles. Their burning consists essentially of the combination of the hydrocarbons in the coal with the oxygen of the air, a process that generates heat and flame and produces hot gases and water vapor. These gases and vapors have a volume many times that of the original coal particles; thus they exert an outward motion and pressure which constitute the explosive wave. When fine particles of coal are suspended in the air, each particle is surrounded by the oxygen of the air, and thus is well placed to oxidize or burn rapidly whenever the temperature is high enough. If some particles are ignited from any cause they will fire others, and the combustion will extend from particle to particle with extreme rapidity wherever enough coal dust of sufficient purity is present.

Jan 1, 1925

PRESIDENT LITTLEJOHN: I have every reason to know Mr. Pryde was carrying out some experiment a while ago in some of his mines. He and I had a little correspondence on the question, and I think he may have a word or two to say about it. He has not been on his feet today at all. I will ask Mr. Pryde to tell us what he has to say. MR. PRYDE: I have not very much to say about shooting coal with permissible powder as far as slack is concerned because we are not in the commercial business. All of our coal goes to the railroad and a very large part of it is crushed for use in the stokers of the locomotives. We are on a 100 per cent permissible powder basis and as far as I am able to see, I do not believe that the percentage of slack is increasing with its use. We find it hard to convince our commercial neighbors of this fact because they are naturally very much against increasing their percentage of slack on ac- count of the low price received for this grade of coal. I, personally, believe that where a change is made from black powder to permissible powder the percentage of slack will be increased for a time because the miners have been accustomed to using black powder and they are rather suspicious about going to the permissible powder and I do not believe that we can blame them very much. So the tendency with them is to use too much powder. We have gradually overcome this, although, as I said before, we have not kept close track of the production of slack. However, we try to get as large an amount of lump coal as possible. Broadly speaking, I can say from observation that in my opinion there is very little difference in the percentage of slack with the use of the permissible powder that we have today than there was with the use of black powder. I also get this information from our mine superintendents. Mr. Peterson and the other explosive men have been very helpful to us in the use of permissible powder and I confess I have to take everything back that I said several years ago. At that time I was against permissible powder, particularly on account of the cost, but, with the newer permissible powder, we have gotten the cost down very well. I know today that the cost of permissible powder in the coal mines of the Union Pacific Coal Company is less than when we were using black powder. I know this because of the fact that we kept a record of the number of tons we got with black powder, and the number of tons we get with permissible powder compares very favorably in cost. I know this, too, because of the fact that our employes, except in the first few weeks of using permissible powder, have made no demand upon us for any in- crease ill pay to offset any added cost that might accrue in the use of permissible powder and the fact that they have asked for no increase is very conclusive proof to me that it is not

Jan 1, 1925

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