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ASIDE from the John Fritz Medal, in which the Institute partici¬pates through its representation on the John Fritz Medal Board, the Institute itself has four awards it may make annually, as fol¬ lows the Robert W Hunt Medal and Prize, the J E. Johnson, Jr , Award, the James Douglas Medal, and the William Lawrence Saun¬ders Medal ROBERT W HUNT MEDAL AND PRIZE The partners of Robert W Hunt established a fund which was, presented to the Institute at a fitting ceremony on May 27, 1920, to establish an annual medal and a sum of money to be awarded tinder the following rules¬ 1 The award shall consist of two prizes first of a gold medal, second of a sum of money, a certificate to accompany each prize The money prize shall not be awarded to a member' over 40 years of age, but under unusual circumstances, both prizes may be allotted to one per son provided that he is not over 40 years of age In general it will be understood that the Committee shall award the money prize to the younger men, rather than the medal 2 The awards shall be made not oftener than once a year to that person or persons contributing to the Institute the best original paper or papers on non and steel The scope of the term "iron and steel" shall be determined by the sub-committee consideing the awards In general, papers dealing with the practical side of the subject have preference over those dealing with the theoretical side in recognition of the fact that Captain Hunt's main con¬ti ibutions to the industry have been in the improvement of production and quality of material

Jan 1, 1923

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -The following report covers briefly some of the more important activities of the Institute during the year 1923 In my report for the year 1922, I drew attention to the falling off in membership of the Institute due to the depressed condition of the mining industry in several lines and the inability of many of our members to find profitable employment in mining or its associated branches. A number who were unemployed during 1922 established connections during 1923, but a still greater number have been forced to resign or drop their membership during 1923. Fortunately, the number dropped is not so great as in the previous year. The Employment Service conducted by the four Founder Societies bears witness to the trend in business For the young men just out of college, there are plenty of opportunities at small salaries, there are plenty of opportunities for them as laborers, but for the mature members, those of experience, there are few calls. During the last eighteen months, our Employment Service has been able to place only six of our members out of every hundred engineers for whom it has found work. Another loss which this Society has suffered, but which is not felt so keenly by our sister societies, is in its foreign members The A. I M E has always had a large foreign membership, but of recent years exchange has been so heavily against many European and South American coun¬tries that a large number of members residing abroad have been compelled to relinquish their membership. Almost invariably these members express keen regret because of the necessity that confronts them, and almost invariably the writers express hope that present conditions will not last long and that they will soon be able to ask for reinstatement. Having stated the darkest side of the picture first, it may now be drawn to your attention that in spite of these losses the number of persons applying for membership was decidedly encouraging. From the quality point of view, the membership has not gone back¬ward. The Membership Committee has declined to recommend many

Jan 1, 1923

United Engineering Society WILLIAM L SAUNDERS,, President GEORGE H PEGRAM, 1st Vie-president ALFRED D FLINN, Secretary J V W REYNDERS, 2d Vice-president JACOB S LANGTHORN, Treasurer HENRY A LARDNER Assistant treasurer Finance Committee House Committee GEORGE H PEGRAM, Chairman ALFRED D FLINN, Chairman J 'VIPOND DAVIES FREDERICK F SHARPLESS BANCROFT GHERARDI . JOHN H DUNLAP WILLIAM L SAUNDERS CALVIN W RICE W F M GOSS, ex-officio F L HUTCHINSON

Jan 1, 1923

Jan 1, 1923

Report of Secretary TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -I herewith present a report of some of the more important activities of the Institute for the year of 1922. The outstanding feature of the year is the optimism felt by our members despite the continued depression in the mining industry. January 1, 1921, found many of our members out of employment or drifting into other industries to tide them over the depression; but almost universally the feeling has been that this was but a temporary condition and that sooner or later the necessary production of raw materials would enable these members to return to their former activities and renew their participation in Institute affairs As the year passed conditions improved and, before it ended, many had found employment in their previous occupations. Bearing in mind that this depression has been very real, we have reason to be well satisfied with the work that the Institute has been able to do The loss of members through inability to pay dues has been large, and income has been correspondingly reduced, but it proved to be materially in excess of that anticipated early in the year, so that a substantial and unanticipated balance was carried forward toward the activities of 1923.

Jan 1, 1923

Adams, Bernard, Student, South Dakota School of Mines. Rapid City, S. D. '30 Ahlskog, Harold A., Student, Washington State College Pullman, Wash. '30 Aldridge, John, Student, New Mexico School of Mines Socorro, N M. '30 Almstrom, Adne A., Student, Met. Engrg., Washington State College Pullman, Wash. '29 Ancell, Virgil F., Student, Missouri School of Mines Rolla, Mo. '30 Ankudinoff, N., Mill Draftsman, Arthur G McKee & (:o., 2422 Euclid Ave., Cleveland, Ohio. '30 Apablasa, Salvador C., Student, Univ. of California Los Angeles, Cal. '31 Armstrong, Robert H., Student, Lafayette College Easton, Pa. '31 Armstrong, Thomas E., Student, Univ. of California Los Angeles, Cal '31 Aud, Robert A., Student, Lafayette College Easton, Pa. '30 Backus, Robert Small, Student, Mass.- Inst. of Tech . Cambridge, Mass. '30 Bailey, William C., Student, Univ. of California Los Angeles, Cal '30 Banning, Lloyd H., Student, South Dakota State School of Mines Rapid City, S D. '81 Barclay, M. G., Student, Colorado School of Mines Golden, Colo. '30 Barger, Thomas, Student, Univ. of North Dakota Grand Forks, N. D. '29 Barker, C. L., Student, Colorado School of Mines Golden, Colo. '30 Barker, Edgar Morgan. Student, Univ. of Utah Salt Lake City, Utah. '31 Barnwell, Earl E., Student, Oregon State College. Corvallis, Ore. '30 Bartholomees, Geo. C Box 304, Bonne Terre, Mo. '29 Bartholomees, Louis P., Student, Colorado School of Mines Golden, Colo. '30 Bary, Robert L., Student, Univ. of Kansas Lawrence, Kans. '30 Basham, Lester G., Student, South Dakota School of Mines Rapid City, S D. '31 Bates, Walter H., Student, School of Mines, Univ. of Utah .. Salt Lake City, Utah. '30 Beardshear, George T., Student, South Dakota State School of Mines.Rapid City, S D. '31

Jan 1, 1923

By M. A. Hunter

This paper gives the results of an investigation of the specific resistance and temperature coefficient of the electrical resistance of nickel and its important alloy, monel metal. For most of the pure metals, the temperature coefficient of resistance is approximately 0.004 per degree centigrade at 20" C. Nickel and iron, however, are exceptions. This property is important as it gives us good material for the construction of thermometers and other instruments involving electrical control. A summary of information on this subject has been publishcd by the Bureau of Standards.l The present experiments antedate this publication by several years and as the information obtained is not contained in it, the results of the experiments arc published as additional information. Electrical Properties of Pure Nickel It is generally conceded that the lowest values for electrical resistance are obtained in the purest metal. In the case of nickel, the best material obtainable is electrolytic nickel, which contains approximately 99.80 per cent. nickel, 0.15 per cent. iron, and 0.05 per cent. copper. Any cobalt that may be present is included in the nickel figure. If the elcctrolStic sheet has been deposited without intermission, it is possible to cut a section from the sheet and roll it into wire without melting. By this means a nickel wire may be obtained that is uncontaminated by any of the impurities always taken up by nickel during melting. Two samples of nickel wire obtained from different electrolytic nickels had the follolving electrical resistance and temperature coefficient of electrical resistance: Specific Temp. CofEE. Sample MateRial ReSISTance peR Deg. C. NO. 1 Electrolytic nickel.................... 7.55 0.00550 NO. 2 Electrolytic nickcl ................... 7.60 0.00553 * Rensselacr Polytechnic Institute. Director of Research, Driver-Harris Co. Russell Sage Laboratory, Rensselaer Polyt,ecllnic Institute. 1 U. S. Bureau of Standards, Circular 100 (March, 1921).

Jan 1, 1923

By Arthur H. Redfield

The West Indies are the summits of a submerged mountain chain, the continuation of which must be sought in the mountains of central Honduras. In Haiti, the chain divides, one branch passing through Jamaica and the other through Cuba, the Cayman Islands, and the Misteriosa bank. Suess divides the West Indies into three zones: The first zone is entirely of volcanic origin and includes many recent volcanic cones. It includes the arcuate string of islands, which extends from Saba and St. Kitts to the Grenadines and Grenada. The western half of Guadeloupe belongs to this group. The second zone consists of a geanticline, of which the sedimentary rocks range from the Jurassic to the Quaternary, but consist chiefly of Lower Tertiary sediments. In the west it is broad, including the whole of the Greater Antilles; but in the east it is restricted to a narrow belt, which includes the Virgin Islands (except Anegada), Anguilla, St. Bartholomew, Antigua, the eastern part of Guadeloupe and part of Barbados. The islands that compose the third zone are flat and low. Like the second, this zone is broad in the west and narrow in the east; it includes the Bahamas, Anegada, Sombrero, Barbuda, and part of Barbados. Geologically, Florida and the plain of Yucatan may be regarded as belonging to it. Trinidad and Tobago, though geographically adjacent to the Lesser Antilles, are geologically a detached part of the South American continent. The crystalline complexes of northern Trinidad and of Barbados are a continuation, en echelon, of the crystalline axis of the promontory of Paria. The folded Cretaceous and Tertiary of the central and southern parts of Trinidad represent a continuation of the folded sedinlents of the Paria district of Venezuela. Possible Oil-bearing Areas The volcanic islands of the inner arc of the Lesser Antilles may be excluded from consideration; these include Saba, St. Kitts, Nevis,

Jan 1, 1923

United Engineering Society ARTHUR S. DWIGHT KARL EILERS J V N DORR Engineering Societies Library Board SYDNEY H. BALL JOSEPH E POGUE GEORGE C STONE JOHN H. JANEWAY Engineering Foundation Board J. V N. DORR JOHN M CALLOW GALEN H CLEVENGER

Jan 1, 1923

?Aaronson, Alfred E , Oil Producer, Pres, Tuloma Oil Co Tulsa, Okla '18 ||Abad, Leopoldo F , College of Mm , Univ of California Berkeley, Cal '23 ||Abadilla, Quirico A , Geol Dept, Cia Mexicana de Petroleo "El Agmla," S A , Edifico "El Aguila," Esq, Caller Aurora y Comercio, Tampico, Tamps , Mexico '20 ||Abbey, Robert Graham, Student, Case School of Applied Science Cleveland, O '21 Abbott, Clarence E, Gen'l Supt, Iron Mines Div, Tenn Coal, Iron & R R Co, 1405 Minnesota Ave , Bessemer, Ala '04 Abbott, Louis Benjamin, Chief Engr , Consolidation Coal Co , Elkhorn Div Jenkins, Ky '15 Abbott, Robert R , Met Engr , Peerless Motor Car Co Cleveland, Ohio '12 ||Abbott, Wells Osborn, Student, Univ of Arizona Tucson, Ariz '23 Abe, Asaka Ashiya, Mukogun, Hmyogoken, Japan '14 Abeel, George H, Jr , Cons Min Engr 4612 W 17th St , Los Angeles, Cal '18 Abel, Albert E , Asst to Pres , Valley Mould & Iron Corpn Sharpsville, Pa '19 ?Abeloff, Miran S 322 W 45th St, Ness York, N Y '21

Jan 1, 1923

YEAR OF ELECTION 1913 FRANK DAWSON ADAMS Montreal, Canada, 1921. WILLIAM CUTHBERT BLACKETT Sacriston, Durham, England 1923 GELASIO CAETANI Rome, Italy 1920 HENRY STURGIS DRINKER Merlon Station, Pa 1921. FERDINAND FOCH Paris, France 1922. FEDERICO GIOLITTI Torino, Italy 1906. SIR ROBERT A. HADFIELD London, England 1921. FRANK WILLIAM HARBORD London, England 1917. HERBERT HOOVER Washington, D C 1905. HENRI LECHATELIER Paris, France 1921. C MCDERMID London, England 1913 EZEQUIEL ORDONEZ Mexico City, Mexico 1909. ALEXANDRE POURCEL Paris, France

Jan 1, 1923

By W. O. Hotchkiss

Rock exposures are usually a very small part of the surface area in any mining district and the prospector and geologist must base their deductions as to the area, extent, and structure of various formations upon exposures that seldom form 5 per cent. of the area studied. Most often, outcrops form less than 1 per cent. of an area, so that exploration for mineralized contacts or mineral-bearing formations necessitates drilling, test pitting or tunneling, shaft sinking, and other underground work. In these days of high costs any method that will give definite facts regarding rock? obscured by soil or other material should be used to the greatest possible extent. In the early days of the Lake Superior iron districts, mines were located in the few places where ore was present in outcrops. Later, larger orebodies have been found, in depressions, obscured by soil and other foreign material. Mineralized rocks are oftentimes more weathered, softer, and more easily eroded than unmineralized rocks. It is quite natural, therefore, to expect that such orebodies (particularly where large enough to influence erosion in former physiographic conditions) should lie in depressions and be obscured by later debris. It is not difficult to believe that the history of the development of Lake Superior iron mining may be duplicated in other mining districts, that even larger orebodies than those first mined may be found in areas where the rock exposures, which led to original discoveries, are few or lacking. The chief properties of rocks that can manifest themselves through an obscuring cover are magnetism, electrical effects, radio-activity, gravity, and sound transmission. All of these have been used, to a small extent, to tell us a few things about what lies below the surface that we could not otherwise determine, but none has been used so long and so widely as

Jan 1, 1923

By George S. Rice

Those who for the first time see, at a mine, a great hole caused by subsidence; or, going underground, see an extensive fall of roof or hanging wall are apt to regard such an occurrence as an accident and not a normal condition of exhaustive mining. Moreover, the public is inclined to believe that a cave or subsidence of the surface is the result of carelcssness in mining or the rapacity of the mine operators in "robbing pillars," a tern too loosely used in descriptions of coal mining. This belief is fostered by the common-law requirement that an owner of the surface or of surface improvements is entitled to full support of the surface. Court decisions have upheld this law even when that owner has sold or leased the underlying mineral, unless a clause in the sale or lease contract exempts the mining company from paying the owner of the surface for damages that may result from mining. Another reason for this belief is the earlier practice (which is still extensively followed in this country) of leaving all coal pillars unmined, except as they have been thinned by so-called robbing; by not extracting the pillars, the surface may be supported by them for years, perhaps for generations. Inasmuch as the practice of leaving permanently in the mines from one-third to one-half of the mineral is wrong, with respect to conservation of a national resource, it behooves the mining engineers to assemble data and disseminate information on the subject, pointing out that subsidence must follow complete extraction, unless expensive methods of back-filling are employed, such as are used in Germany and France. These methods inevitably increase the cost of mining and the price of the mineral produced. It is popular to speak of "waste in mining" without a realization that much so-called wasting is unavoidable unless subsidence is accepted and provision made therefor where the surface is valuable, or else the only present known alternative of hydraulically placing sand or crushed stone filling in the excavations, at an increased cost of the mineral product to the consumer.

Jan 1, 1923

By H. R. Tunnell

Every one connected with a mine knows that it is hard to keep down the costs of moving ore from the place where it is broken to the shaft or portal. Considered broadly, the subject of handling would cover all work done in a mine, but here it has been limited to handling ore in stopes and drifts, through chutes, and on levels. Good ventilation and a strict enforcement of rules for the prevention of dust safeguard the health of the men and lower transportation costs. Handling ORe in Stopes and Drifts The object of all stoping is to mine ore of good grade at low cost. In Butte, most of the ore is mined, from veins dipping from 60° to the horizontal to those which are vertical, by means of square-set, rill, timbered-rill, and back-filling stopes. When blasted, a part of the rock is carried by gravity to the grizzlies over the chutes, the rest is shoveled. Rock, when broken in a stope, may be deflected by inclined floors or slides toward the top of a chute leading to the level below. Ore broken clean enough to ship should be carried, by the force of its fall, into a chute or.as nearly into that chute as the safety of the stope and the men permits. Ore that requires sorting, about 80 per cent. of all ore mined, is caught on a grizzly and the waste picked out. Waste rock broken in a stope is used to fill that stope and should be blasted into the gob with as little handling as possible. About two-thirds of all the ore mined in Butte comes from square-set stopes; this method was used in nearly all cases until 1912, when the rill method of stoping was introduced in the Tramway mine, of the Anaconda Copper Mining Co. The shoveling and timbering costs in square-set stopes are high when compared with the costs in the rill stopes. All the ore cannot be carried to the chute, in falling from place, unless the chutes are very close together or the distance from the back of the stope to the top of the chute is sufficient to slide all the ore broken. The number of chutes is limited by the tendency of the ground to cave; if carried too close together the stope is weakened. Small stopes, or blocks,

Jan 1, 1923

By Rudolf Kudlich

The problem of eliminating the hazards of hoisting in mines has been with us since the industry passed its earliest stages, when coal and ore could be won from surface working and tunnels. At first, safety devices were introduced as means of decreasing the amount of labor necessary to produce the mineral, or to increase the amount that could be obtained from a certain opening. For example, crude ladders replaced winding footpaths or steps cut into the walls of the pit or shaft, decreasing the distance it was necessary to carry the product to the surface and eliminating, to some extent, the hazard introduced by the precarious footing afforded by such paths and steps. Latcr, instead of being carried from the pit on the backs of men, the product was hoisted in buckets or baskets on a rope passing over a pulley or around a windlass. Thus the capacity of the pit was considerably increased, and the hazard due to making many trips up and down the shaft was eliminated. From such beginnings accident prevention in mine hoisting advanced with the importance of the industry, until at present hoisting compares favorably with other branches of the mining industry with reference to safe practices. As in the other branches, this progress has been accomplished along two general lines—by legislation, rules, and education, and by the installation of safety devices. Though due credit must be given the former, it is not so satisfactory as the latter. Legislation, to be effective, requires a policing and inspection system to guarantee enforcement, such as we cannot hope to inaugurate. Rules may be satisfactory so long as the employer controls the labor market, and dismissal or some other form of discipline is an effective means of insuring obedience to the rules; but where labor demand is in excess of the supply, or where labor organizations are in control, such measures are not effective. An educational campaign will draw attention to hazards and may awaken a desire to avoid accidents by exercising the proper care. It is necessary, therefore, to place our reliance mainly on mechanical devices to prevent accidents, and to depend as little as possible on laws,

Jan 1, 1923

By F. E. Bash

About three years ago, the writer presented a paper1 on the rate of heating and cooling of a 24-in. round ingot. The present paper deals with work done on larger ingots at the plant of the Allis Chalmers Mfg. Co., Milwaukee, Wis., in August, 1919. Sufficient data on ingots of all sizes were desired to enable one to calculate in advance the rate at which any ingot could be raised to a forging temperature without injury to the steel, determining also the temperature gradient between different sections of the ingot and the length of time necessary to heat to the center. This has now been experimentally determined for 24-in. and 45-in. ignots by the writer and for a 18-in. cube by E. F. Law.2 J. F. Harper has also made tests on heat-treating temperatures on 30-in, ingots; which data are included in this paper. No attempt is made here to work out a formula for the heat penetration of steel, for too many factors are involved concerning which we have not sufficient information, as for instance, the specific heat of steel up to 2300' F. It is hoped that eventually a set of formulas will be developed so that one may calculate maximum allowable temperature differences within an ingot for any particular kind of steel and the rate of absorption of heat and temperature gradient within the ingot for a definite temperature head. EXPEEIMENTAL INGOT The ingot tested was 45 in. in diameter, having been forged into the shape shown in Fig. 1 from 54 in. diameter. Seven -in. holes were

Jan 1, 1923

By S. R. Elliott

The Spies mine is located in the eastern half of the northwest quarter of section 2443-35, near the village of Iron River, Mich., and is operated by The Cleveland-Cliffs Iron Co. Speaking generally, the jasper hanging walls of most of the deposits in the Iron River district dip at a steep angle and are exceedingly strong, standing without caving, even after mining has been continued for years and after large excavations have been made. The ore is fairly hard and tough and contains no slippage faces. It occurs in large masses, which are often egg shape, with the smaller end down, and can be mined in open stopes without the use of timber. The common system employed in the district is the shrinkage stope, or some modification of it. The Spies system was developed to utilize the advantages of the open-stope method and to avoid the disadvantages of the shrinkage stope. The Spies shaft was sunk to such a depth that the bottom, or third level, was in rock at a short distance below the bottom of the orebody, the shape and extent of which had been previously determined by diamond drilling. This is shown in plan and by the ore contours at the first, second, and third levels in Fig. 1, and in section in Figs. 2 to 7. In order to provide the necessary mills and raises, three parallel crosscuts were driven on 25 ft. centers on the bottom level. Drifts on the second and first levels were driven to the orebody and followed the foot wall in a southerly direction to the end of the ore. In crosscut 3, Fig. 1, raises 30, 40, 50, and 60 were carried up on the foot wall and holed into the second level, and were ultimately carried up and holed into the first level. These foot-wall raises carry the pipes and ladders, provide a means of ventilation, and furnish safe communication to all working places in the stope. From crosscuts 1, 2, and 3, raises were completed to a height of 32 ft., or the elevation of the first sublevel. They were then connected by east and west crosscuts to the main foot-wall raises 30, 40, 50, and 60, shown in Fig. 4. The crosscuts in raises 1 to 5 were then driven west and the

Jan 1, 1923

Albin, B. R. Billings, Mont. '28 Amster, Nathan L 25 Broad St., New York, N. Y. '28 Bache, Jules S 42 Broadway, New York, N. Y. '28 Barrett, C. P 5338 Harper Ave., Chicago, Ill. '28 Baum, Frank G., Cons. Hydro-Electric Engr Cassel, Shasta Co., Cal. '28 Bayless, William S Russ Bldg., San Francisco, Cal. '28 Bean, Louis H., V.P., Dwight P Robinson & Co., Inc. 125 E. 46th St., New York, N. Y. '28 Beatty, Ross J 1105 First National Bank Bldg., Chicago, Ill. '28 Benwell, Oswald F 110 Gilpin St., Denver, Colo. '28 Beymer, Albert S., V P., Keystone National Bank Pittsburgh, Pa. '28 Blumenthal, Hugo 44 Pine St., New York, N. Y. '28 Boettcher, Charles Ideal Cement Bldg., Denver, Colo. '28 Bowlus, Thomas H Iola, Kans. '28 Brown, Colvin B. .. Chamber of Commerce, Washington, D. C. '28 Burt, Maxwell Struthers Southern Pines, N. C. '28

Jan 1, 1923

ASIDE from the John Fritz Medal, in which the Institute participates through its representation on the John Fritz Medal Board, the, Institute itself has five major awards to make annually for excellence in technical papers, as follows The Robert W. Hunt Medal and Prize, The J E Johnson, Jr Award, The Lewisohn Platinum Prize to senior members, and the James Douglas Medal ROBERT W HUNT MEDAL AND PRIZE The partners of Robert W. Hunt established a fund which was presented to the Institute at a fitting ceremony on May 27, 1920, to establish an annual medal and a sum of money to be awarded under the following rules 1 The award shall consist of two prizes, first of a gold medal, second of a sum of money, a certificate to accompany each prize The money prize shall not be awarded to a member over 40 years of age, but under unusual circumstances, both prizes may be allotted to one person provided that he is not over 40 years of age In general it will be understood that the Committee shall award the money prize to the younger men, rather than the medal 2 The awards shall be made not oftener than once a year to that person or persons contributing to the Institute the best original paper or papers on iron and steel The scope of the term "iron and steel" shall be determined by the sub-committee consider¬ing the awards In general, papers dealing with the practical side of the subject have preference over those dealing with the theoretical side in recognition of the fact that Captain Hunt's main contributions to the industry have been in the improve¬ment of production and quality of material. 3 A sub-committee of three to five, including the Chairman of the Iron and Steel Committee, shall be appointed by the Iron and Steel Committee annually to adjudge the award subject to approval 4 The awarding committee shall submit its report to the Iron and Steel Committee at its October Meeting, and the award be certified to the Secretary of the Institute in time to permit the presentation to be made at the Annual Meeting of the Institute 5 The recipient of the award shall be designated "The Hunt Medallist " This prize is administered by the Iron and Steel Committee

Jan 1, 1923