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TO WE 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 countries 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 backward. The Membership Committee has declined to recommend many

Jan 1, 1925

CHARLES H. FULTON (author's reply to discussion*).-Mr. E. E. Thum is kind enough to point out an apparent discrepancy between the conclusions drawn from experiments and the results of those experiments. It is stated on page 1383 that carbon dioxide in excess of 1 per cent. is not found in the gases above the carbon reduction temperature (of zinc oxide). This statement refers to such temperatures as occur in ordinary zinc distillation and is not meant to include temperatures above 1350° C., and it should have been so stated in the original paper. When the temperature of the distilling chamber reached 1400° and above, it was noted that the amount of carbon dioxide in the gases increased. This cannot be explained by the equilibrium of the reaction 2CO?CO2 + C, and in seeking reasons for the discrepancy, the experiments of Meyer

Jan 1, 1919

By P. S. Roller

P. S. ROLLER,* College Park, Md.-The author introduces the idea of a grind limit, or lower size limit of the particles formed directly by grinding, and this is stipulated to be 0.70 micron. I wonder where all the particles come from that lie between the resolving power of the microscope and 0.7 micron, which are seen under a microscope in examining a sample of grind? There is also introduced the idea of excess fines; this is all right in itself but the author's quantitative definition seems to be virtually impossible to justify, and, moreover, is obscure. Just why E, the excess fines, should be defined as the distance between an F line and a [?] line is hard to follow, and just where the distance should be measured does not appear to be stated, as it should be since the F and [?] lines intersect and the distance between will depend upon where that distance is measured. The basis of the presentation is the relation of log weight against log size that was "discovered" by Schuhmann. While this relation is implied to fit, the only evidence that I can see is a slightly irregular line in Fig. I between 2 per cent and 18 per cent by weight and then a precipitous drop at 18 per cent away from any sort of straight line. Some of the conclusions are rather startling. It is stated that E, the excess fines, remains constant for all the comminution products of any particular material, except that it may decrease for some coarse crusher products. No reason is given for this assertion. One would, on the contrary, expect that excess fines, if such a concept is permissible, would generally vary with different conditions instead of being constant. Again, "as much net energy is required to reduce a ton of quartz to particles of the grind-limit diameter (namely, of course, 0.7 micron) by grinding as is required to melt the quartz," This would require many data to prove, but no proof is given; any considera¬tion would reveal the impossibility of such a result. Still further, ore samples "ground to widely different sizes, and with different circulating loads and different size distributions or product, show the same production of new surface area per revolution of the mill, when this grind limit is used." This statement is confuted by ordinary experience, which teaches that grinding efficiency varies generally with the condition of material. For example, the cushioning effect of fines is widely accepted, while the inefficiency of a ball mill when the feed is too coarse is also well known. R. SCHUHMANN, JR.,* Cambridge, Mass.¬Contrary to Mr. Bond's stand, there is a great deal of miscellaneous experimental evidence that comminution does not stop at around 0.7 micron, nor does it cease consuming energy at that point. Comminution is in fact recognized as an important method of producing colloids.5 Mechanical comminution methods were used by von Weimarn6 to produce colloidal dispersions of a variety of solids, including the minerals chalcocite, galena, hematite, stibnite. Utzino7 gives average particle sizes ranging from 0.02 to 0.09 micron for colloids produced by mechanical comminution of several crystalline solids. Andreasen and Berg8 have ground

Jan 1, 1941

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

By Eliot Blackwelder

For the purposes of this paper, the boundaries of China and Siberia will be taken as they stood about 1907. Except in the Caspian region, it is doubtful if all the oil ever produced in these countries would equal one day's flow of a good Texas well. Considering the vastness of the regions and the variety of strata, it seems strange that these two countries should have made so small a showing in the petroleum industry. No doubt the condition is caused partly by lack of prospecting and of modern methods of development; in larger measure, however, it is evidently because of unfavorable geological conditions over nearly all of east-central and northern Asia. China The known oil occurrences in China are very few. For many years, perhaps a barrel a day has been obtained by primitive methods from wells near the city of Yenchang in the northwestern province of Shensi. A like amount was obtained from wells bored for salt water in the vicinity of Kiating in southwestern Szechwan. The little oil was separated from salt water by allowing it to stand in jars. The salt wells yield also considerable natural gas, which is used to evaporate the salt and also for domestic purposes. There is evidence that wells were bored in this part of China before the third century. It is said that more than 1200 wells have been sunk in that district to depths of 1600 to 2000 ft. (485 to 610 m.) in connection with the salt industry. The scarcity of petroleum in China may be ascribed to three general geologic conditions: First, China contains practically no marine sediments of Mesozoic or Cenozoic age; second, the Paleozoic sediments are not for the most part of the types that generally contribute petroleum; third, the rocks of nearly all ages have been strongly folded, faulted, and more or less intruded by igneous rocks in all parts of China except certain areas in the west and northwest. The mountainous eastern peninsula of Shantung and the similar district of Liaotung in Manchuria to the northeast have the general

Jan 1, 1923

By Eliot Blackwelder

For the purposes of this paper, the boundaries of China and Siberia will be taken as they stood about 1907. Except in the Caspian region, it is doubtful if all the oil ever produced in these countries would equal one day's flow of a good Texas well. Considering the vastness of the regions and the variety of strata, it seems strange that these two countries should have made so small a showing in the petroleum industry. No doubt the condition is caused partly by lack of prospecting and of modern methods of development; in larger measure, however, it is evidently because of unfavorable geological conditions over nearly all of east-central and northern Asia. China The known oil occurrences in China are very few. For many years, perhaps a barrel a day has been obtained by primitive methods from wells near the city of Yenchang in the northwestern province of Shensi. A like amount was obtained from wells bored for salt water in the vicinity of Kiating in southwestern Szechwan. The little oil was separated from salt water by allowing it to stand in jars. The salt wells yield also considerable natural gas, which is used to evaporate the salt and also for domestic purposes. There is evidence that wells were bored in this part of China before the third century. It is said that more than 1200 wells have been sunk in that district to depths of 1600 to 2000 ft. (485 to 610 m.) in connection with the salt industry. The scarcity of petroleum in China may be ascribed to three general geologic conditions: First, China contains practically no marine sediments of Mesozoic or Cenozoic age; second, the Paleozoic sediments are not for the most part of the types that generally contribute petroleum; third, the rocks of nearly all ages have been strongly folded, faulted, and more or less intruded by igneous rocks in all parts of China except certain areas in the west and northwest. The mountainous eastern peninsula of Shantung and the similar district of Liaotung in Manchuria to the northeast have the general

Jan 1, 1923

Report of the Secretary TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen:-To a Board of Directors keeping in as close touch with all of the affairs under their care as do the Board of Directors of the A. I. M. E., through their monthly meetings, a report of the year's progress is almost superfluous. To the members who read the monthly reports of. the Board Meetings and of the various activities of the Institute as published each month, a yearly report cannot carry much fresh information; yet for both it may be well, as is the custom, to glance over the field of our activities during the past year, and to make an estimate for the year to come. The beginning of 1924 was not propitious for the members of the mining profession, though tonnage production for 1923 had been high and the gross value higher than for several years. The margin of profit had been narrow, prospecting and development were limited, and many of our members were unemployed, or were working in other industries. Toward the end of the year, higher metal, prices were in sight. Old-time optimism began to grow, and it now brightens the outlook for 1925. An excellent barometer of the prosperity of the industry, and that of the Institute, for they go hand in hand, is the work of our Employment Bureau. During the past few months, the percentage of our members for whom openings have been found has been increasing to a marked extent, and many members who had fallen in arrears are placing themselves in good standing. The number of new members joining has remained about as it was in 1922 and 1923. The Directors have reason to congratulate themselves on the interest maintained during a dull period, for it is not humanly possible to take a keen interest in the technology of an industry when our hands and minds are not actively engaged in it Now, with a much brighter outlook, we can look forward to a year of increasing prosperity for the industry and for the Institute.

Jan 3, 1925

By N. Marusov, D. K. Lowe, J. C. Karp

This paper considers, from an engineering viewpoint, several factors involved in creating, designing and locating horizontal barriers for controlling water coning. This is an effort to consolidate new concepts with previous information so that a reasonable selection of barrier materials, dimensions and vertical position can be made. Coning theories previously developed are briefly reviewed and an effort i,s made to reduce the results of coning-theory calculations to a point where routine calculations can be made with a desk calculator. It is expected that these simplified calculations will give usable predictions of the amounts of improvement attainable with barriers of various dimensions. Apparatus and procedures used for testing the suitability of commercial cements are described and test results are presented. INTRODUCTION Just about as soon as the phenomenon of water coning was recognized as an oilfield problem, there were suggestions that the production of water coning could be controlled or completely suppressed by means of horizontal barriers. It was also suggested that natural barriers such as shale streaks were helpful in restricting bottom-water production. The implication was that wells not having the benefit of continuous shale streaks to suppress bottom waters should, in some way, be supplied with an artificial barrier. With regard to the selection of barrier materials, there are many references which give the merits of liquid barriers.',' These liquids include surface-active agents," recipitates' and emu1sions. There is no real need to review the merits of these materials again. This paper deals with the use of solid barriers which could be made from various cements. The two major restrictions placed on these barrier cements are that (1) they must be commercially available in large quantities, and (2) they must be applicable by means of standard tools and equipment with techniques that have been fully developed and are in general use at the present time. A schematic drawing of a horizontal barrier in a reservoir is shown in Fig. 1. Two maximum stable water cones are illustrated-—-one for the wellbore diameter and the other for a barrier. A maximum stable cone is one that has attained its maximum volume at the critical production rate and is on the threshold of producing water. The volume displaced by each water cone and the rise in water table are indications of the amount of water-free oil produced. Corrections for porosity, connate water and residual oil, of course, must be applied. The water-oil interface which defines a maximum stable cone is called a free surface. It is a surface over which the pressure is constant. This free surface has the shape of a limiting streamline at and below which there is no movement or transport. The shape of the water cone describes the pressure drop in the reservoir. The effect of a completely impermeable barrier on the cone shape is essentially the same as extending the wellbore out to the barrier radius. The placement of a horizontal barrier requires that a horizontal fracture be created using a single-point entry technique. Two methods may be employed for filling this fracture. One method consists of propping the fracture before filling with cement. The other consists of fracturing with fracture fluid, then immediately following with cement

but, returning to South Africa, for the next two years he was assistant general manager of the Simmer Deep Gold Mining Co., at Johannesburg. In June, 1911, he returned to New Zealand as general manager and consulting engineer for the Consolidated Goldfields of New Zealand, at Reefton, which position he held at the time of his admission to the Institute in 1914. Early in September, 1915, he left New Zealand for active service in France. Corporal Sheppard B. Gordy Sheppard B. Gordy, born in Ansonia, Conn., in 1889, graduated from the Sheffield Scientific School in 1910 and with the degree of E. M. in 1912. He entered the employ of the Braden Copper Co. immediately on his graduation and remained with this company four years, working up through the various grades to assistant foreman and foreman to one of the individual mines. The last year he was in its employ, he acted as general mine foreman. He was for a short time with the Chile Exploration Co. and then went with the Andes Exploration Co. (Anaconda) and remained with the latter, doing mine exploration and development work, until he sailed for home in June, 1918, to give a more personal and active service to his country in her need. He declined a tender of induction into an officers' training camp, at the urgent request of Professor McClelland supplemented by Mr. Potter, because they demonstrated to his satisfaction that he could give more valuable service to his country in helping out with the aircraft production. Being within the draft age, in order to carry out this plan, it was necessary for him to be called by his Local Board and sent to camp. This call came Aug. 26. Two weeks before that time he had gone to Dayton, Ohio, to begin the study of aircraft production, and was sent by the Dayton Board to Camp Sherman, Chillicothe, Ohio, where he died of pneumonia on Oct. 9. Lieutenant Thomas Clarence Gorman Thomas C. Gorman, a lieutenant in the Second Tunnelling Company of the Canadian Engineers, was killed in France on Mar. 18, 1918. He was resting in his sleeping hut and was in the act of writing a letter when a bursting shell killed him.

Jan 1, 1920

On. Tuesday, Apr. 8, the Rocky Mountain Club held its 12th annual dinner at the Waldorf-Astoria, New York. In reporting the dinner the Evening Telegram says: "General Coleman du Pont was sort of master of ceremonies, and he conducted the affair at the end of a Colt .45. It was the General's `forty-five' which filled the banquet hall of the Waldorf-Astoria with the brand of smoke which Uncle Sam showered so generously upon Germany's hordes. It was General du Pont's `forty-five' which bellowed and thundered and echoed through Fifth avenue, scaring horses and shell shocking pedestrians: But no one was hurt or badly shocked except those who could not discern the artistry of Miss Doraldino's dance. "There were Western men around the table who have just come hack from over there. For instance, there were Brigadier General G. H. McManus, General Shanks and a score of others. And there were Thomas H. Watkins, who is said to own half the State of Pennsylvania and is known as the `Coal Baron'-of Pennsylvania,, and Alba B. Johnson, president of the Baldwin Locomotive Works, each one a Westerner, with personality and type suggestive of some of the wonderful men Bret Harte wrote so much about. "It seemed as though General du Pont, who was chairman of the Reception Committee, tried to eclipse all former meetings, and he succeeded if congratulations are a criterion. " General du Pont startled the management of the Waldorf and surprised the diners by staging a three-round bout between Frankie Fay and Phil Wagner. The clash between these two featherweights made Waldorf history, because it was the first boxing contest ever held in the hotel. Tex Rickard, who is going to chaperone Jess Willard and Jack Dempsey in a fight in the near future,-was scheduled to referee the contest, but at the last moment, for some obvious reason, M. E. Schermerhorn was sent in as third man. The bout was a slashing one. Miss Amparito Farrar, lately returned from France, where-she sang for the 'dough-boys;' Eleanore Wetmore, the Rath Brothers and Phil Baker were among the others who entertained.

Jan 5, 1919

By Campbell M. Hunter

Petroleum is found in almost every province in Persia. On the northern frontier, along the southern shore of the Caspian Sea, it is found near Enzelli and Shakhtesar and gas at Khoremabad. Oil is also found at Gumish Tepe, northwest of Astrabad, on the southeastern shore of the Caspian Sea. Further inland, to the south of Astrabad, oil is found at Dehahkuh-i-balae, also on the margin of the Khorasan desert at Semnan, 115 mi. (35 m.) east of Teheran. Along the western frontier, from northwest to southeast, oil is encountered at Ouschachi, north of Lake Urumieh; in the province of Azerbaijan, at Zohab, Khanikin, and other places in. the district of Kormanshah in the province of Ardelan. Further south, in the province of Luristan, oil is found east of Mendeli and in the Pusht-i-kuh districts. Considerable quantities of oil are also obtained from Schuster, Maidan-i-Naphtun, Ram-Hormuz, Beheban, which are almost on a straight line, running northwest and southeast along the foothills of the Bakhtiari Mountains. At Ahwaz, in the province of Arabistan, oil has been found along another range of hills whose axis also lies in a northwest-southeast direction. In the Fars province, boring for oil has taken place at Daliki, and indications of oil are found at Kheri, Fasa, Darab, and other places. A gas show is also recorded at Kuhi-Sung-Atush in this province, 30 mi. (48 km.) east of Darab. In the south of Persia, oil is encountered on Qishm Island, also at Ahmedi and other places north of Bunder Abbas. On the southeastern frontier, oil is found on the Sarhad range of hills. Thus, oil indications have been noted over a distance of approximately 1100 mi. along the western and 700 mi. along the northern frontiers of Persia. History The first working of oil in Persia of which there is any record took place at Kir-ab-US, Susiana, now known as Kiab, about 57 mi. northwest of Schuster. Herodotus (about B. C. 450) reported a well near Ardericca that produced three different substances; namely, asphalt, salt, and oil. The oil, which was black and had a strong smell, was called Rhadamance by the Persians.

Jan 1, 1921

By A. H. Lee

Discussion of the paper of H. P. HOWLAND, printed in Bulletin No. 111, March, 1916, pp. 627 to 650. A. H. LEE, Buffalo, N. Y. (communication to the Secretary*). The statements and results recorded in Mr. Howland's paper can be accounted for by the use of coke with a low sulphur content (0.60 and under). This allows the furnaces to be run on a small volume of acid slag, which it is presumed was done in Mr. Howland's practice. H. A. Brassert has admitted that this was the largest factor in low fuel consumption in his practice. Where the coke contains from 1.00 to 1.25 per cent. of sulphur the situation is quite different and I doubt whether the results mentioned by Mr. Howland could be obtained under such circumstances. ` N. M. LANGDON, Mancelona, Mich. (communication to the Secretary + ).-Gruner's ideal working (which is but a statement of the law first enunciated by Bell) as given in Gordon's Translation of Studies of Blast Furnace Phenomena, "supposes that the reduction of the oxide of iron is effected by the CO only, without intervention of solid carbon." This ideal, if reached, would mean theoretically perfect or 100 per cent. efficiency of reduction. The workings of the large number of furnaces as given in Bell's and Gruner's great works do not show that this standard of perfection ever was reached. This problem has been worked out by the writer for a number of furnaces, and his results, as well as those given by others, all show a failure to reach perfection. Some furnaces, however, approach nearer to perfection than others. The "ideal" as given by Gruner was not stated as a solved problem in blast-furnace practice, but as an ideal to the attainment of which furnace managers should strive. A study of the factors involved from every angle is interesting and instructive and the paper on this subject contributed by H. P. Howland is no exception to the rule. This article is fairly open to criticism, not because of the unique method of presenting the subject, but for the reason that, as the writer conceives, erroneous assumptions are taken which lead naturally to incorrect conclusions.

Jan 7, 1916

Discussion of the paper of Reno H. Sales, presented at the Butte meeting, August, 1913, and printed in Bulletin No. 80, August, 1913, pp. 1524 to 1626. L. C. GRATON, Cambridge, Mass.:-It has been my privilege to read with some care Mr. Sales's paper, and I feel it a sense of duty and a pleasure to discuss it briefly. After two months spent underground in the Butte mines by my associates-Messrs. Augustus Locke, A. M. Bateman, and E. H. Perry-and myself, it seems only fair to record our appreciation of the almost baffling structural complexity of the Butte veins, of the remarkable accuracy with which their mechanical details have been worked out, and of the unusually effective and intelligent use of geologic conceptions in interpreting their subtler characters and significance. During this period, under the courteous and helpful guidance of either Mr. Sales, the members of his staff, or the geologists of other companies, we have been afforded opportunity to test many of the conclusions embodied in the present paper, and it is but just to state that as our observations have accumulated sufficiently the great majority of these conclusions have received unquestioned confirmation in our minds. The pleasure consists in realization that the science of mining geology, to which so many of us have devoted ourselves, actually embraces the possibilities that this paper exhibits. The science of geology has been favored by many brilliant contributions of general nature, and by a smaller number of studies remarkable because of their detail and precision. I know, however, of no other piece of work like this, which, including Mr. Winchell's administration, virtually represents the combined results of over 15 years of work by a staff of trained geologists in a district which measures not much more from end to end than it now does from top to bottom. That this concentration of effort and observation has been required, and that it has been repaid by the results attained, are plentifully evident in Mr. Sales's paper. If one were inclined to doubt this after perusal of the text, surely he would be convinced by the maps and sections, several of which, I venture to say, are unapproached in detail and accuracy by anything attempted before.

Jan 11, 1913

By Howard Lee

I. GEOLOGY AND ORE OCCURRENCE IN central Colorado is a great belt of intrusive porphyry nearly 100 miles long (160 km.), extending from the Clear Creek district on the north to Aspen on the south, which includes many of the well known mining camps of the State. Near the southern end of this belt, at Leadville, the occurrence of these intrusives is most marked, resulting in intensive mineralization and the formation of a great variety of large orebodies. During the past 40 years, Leadville has been a steady producer of gold, silver, lead, zinc, manganese, iron, and bismuth, in the forms of sulfid, carbonate and oxide ores. It is the purpose of this paper to discuss pyrite alone, which, under present economic conditions, is valuable chiefly for its sulphur contents. The ore-bearing formation of the Leadville district consists of two beds of limestone separated by a layer of quartzite. The upper limestone is carbonaceous, and is known locally as the blue limestone. It varies in thickness from 50 to 300 ft. (15 to 91 m.). The lower limestone is Silurian, known locally as white limestone, and is about the same thickness as the upper bed. Underneath the Silurian limestone is a layer of Cambrian quartzite front 100 to 250 ft. (30 to 76 in.) thick resting on Archean granite, which forms the limit of ore deposition. As a rule, there is a sheet of white porphyry above the upper, or blue limestone; a sheet of gray porphyry is associated with the blue limestone, either in or below it, but the porphyries are not so regular as the quartzites and limestones and are not always found in their expected positions. Throughout the district there is an elaborate system of faults and intrusive porphyry dikes, which have all important bearing on ore deposits. The writer has seen two or three orebodies which were not closely associated with either a fault or a porphyry dike, but if the minor fractures and water courses are considered as part of the fault system it is safe to say that all orebodies are directly traceable to one or both of these causes.

Jan 8, 1918

By Euzebio P. de Oliveira

One of a recent batch of samplcs from the Serra da Baliza, in the state of Paraná, Brazil, contained asphalt and a dark heavy oil; and workmen on the railway from Porto Uniáo to Uruguay discovered asphalt coming from eruptives that outcrop along the Rio de Peixe. The occurrence of asphalt in the triassic eruptives of southern Brazil, however, has been known a long time, according to Dr. Gonzaga de Campos. It is generally believed that the Botucatd sandstone is always a hard vitrified rock, from the metamorphic action of the overflowing eruptive contacts. In this region, howeyer, the contact metamorphism is almost nil; the sandstone is slightly hardened in a narrow zone about 20 to 30 cm. wide. In many places, the sandstone is so friable as to be easily reduced to sand, which is used in mortar for building in Guara-puava and Palmas. South and west from Porto Uniáo, this bench of sandstone is about 50 m. thick, and is capped by a heavy bed of basic eruptives, many of which are amygdaloids. Nature of Rocks Dr. Geo. P. Merrill, after studying the triassic eruptives collected by the Coal Commission, reached the conclusion that "All these rocks are of typical basalt-diabases, not in any essential different other than in structure. An interesting mineralogical phase is its paucity in olivine, which in many cases is completely lacking." Professor Hussak, who carefully studied these rocks and their accessory minerals, decided that in the dikes they are granular (diabase) and that in the lava sheets, porphyritic (augite-porphyrite or melaphyre), and that the latter pass evidently to normal diabases and are always typical of effusive rocks. The examination of many slides from dikes and sheets leads us to adopt the opinion of Professor Hussak; the rocks of the dikes are of ophitic structure, while that of the sheets show a great variety of structure and may vary from almost granular to basaltic. The great paucity in olivine had been noted by Hussak, who classes as melaphyres, the porphyritic triassic rocks in Brazil which contain olivine.

Jan 1, 1921

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

By William P. Lohden

INTRODUCTION It is recognized that, for a variety of reasons, some companies in the mineral industry today are by no means cash-rich and, in fact, are reporting a growing proportion of long-term debt in their capital structures. A review of recent balance sheets of small, medium-size, and some larger companies, indicates that a fair number still have substantial positions in cash equivalents such as U.S. government issues and other short-term money market instruments. In part, this paper concerns itself with companies which have sufficient cash and equivalents and/or cash generation to internally finance mining projects or expansions but which, for some reason, choose to borrow funds. Misconceptions which appear to frequently underlie so-called "leveraging" decisions are explored in this paper. Also considered arc' those circumstances under which any company, including one that is cash rich, should consider borrowing for a project in an amount beyond what would otherwise be necessary based upon its internal financing ability. I do not attempt to cover the raising of equity capital in public markets in this paper. OVERALL RETURN ON INVESTABLE CASH If you approach an individual with an investment which can be financed from savings, or by borrowing at a rate higher than one is earning on savings, that individual will quickly tell you that to pay interest at a rate higher than is being earned on savings would reduce overall income. Assuming that additional investment opportunities are not currently being considered, the individual concludes that a draw-down on savings, leaving a cushion for contingencies suited to individual circumstances, is the correct financial decision. For reasons discussed later, the simple mathematical logic leading to this conclusion tends to become obscured at the corporate level. When Leveraged Studies Are Inappropriate or Premature Surprisingly, I have heard of a number of companies that could afford to finance an investment solely with internal funds, which have made DCFROR (i.e. discounted-cash-flow rate-of-return) studies not only on a 100% equity basis but also on a leveraged basis. Certainly, a leveraged study would be appropriate if additional projects were competing for more capital than was available internally. Often, however, other projects are not far enough along to warrant a leveraged study and there is some danger that a project may be undertaken because it has an estimated acceptable rate of return, on a leveraged basis, that is not ultimately earned because some of the other projects are postponed or abandoned and borrowing is less than expected. For the above reasons, until it has been determined that (1) borrowing is a reasonable certainty for a particular project and (2) the timing and amount to be borrowed has been determined within a reasonable range of accuracy, I believe it is inappropriate and misleading to calculate DCFROR for a project other than on a 100% equity basis. Even when there are several projects currently competing for funds and borrowing will be required to finance one or more of them, using the common yardstick of calculating DCFROR on a 100% equity basis is a safer method to initially evaluate and compare the attractiveness of the projects. Many companies, whether they would have to borrow or not, will reject projects that on a 100% equity basis do not meet their minimum rate of return standards. Some companies which have to borrow will undertake a project provided the project's DCFROR on a leveraged basis meets its minimum return standards. The danger of this approach is that even moderate shrinkages of estimated cash flows could plunge return below

Jan 1, 1985

By R. G. Weavind, R. S. Young, I. Wolf

ONE of the most important fields of investigation at the Diamond Research Laboratory in Johannesburg is concerned with improvements in metallurgical practices for the diamond mining companies, with particular reference to increased recoveries of the smaller industrial stones. Considerable work has been done on the possible application of flotation processes to the diamond industry. From the viewpoint of recovery processes, diamonds in their natural state may be grouped into two classes, the water-repellent diamonds, which adhere to a grease surface, and the water-avid diamonds, which, because of their wettability, will not adhere to a grease surface and must be recovered by means other than the grease tables used for water-repellent diamonds. Experiments in the flotation of small diamonds from both kimberlite and alluvial deposits indicate the following conclusions: Water-repellent diamonds: Satisfactory flotation of —16 mesh diamonds, which are naturally water-repellent, may be accomplished using either Aero-float 25 together with cresylic acid, or Du Pont B23 as frother together with kerosine as auxiliary oily conditioner or froth stiffener. The quantities of reagents required are of the order of 0.15 lb per ton Aerofloat and 0.18 lb per ton cresylic acid. The use of acid circuits is detrimental, and for best results a pH between 7 and 9 should be maintained. R. G. WEAVIND and I. WOLF are with the Diamond Research Laboratory, Johannesburg, South Africa, and R. S. YOUNG, Member AIME, is Director of Research, Diamond Research Laboratory. TN 76B. Manuscript, March 23, 1951. A flotation period of 5 to 10 min is necessary to insure that all floatable diamonds are removed. Diamonds larger than 16 mesh cannot be recovered satisfactorily by flotation. Xanthates do not act as collectors for diamonds, and this is probably associated with their inability to impart a water-repellent surface to this mineral. Water-repellent diamonds smaller than 28 mesh can be floated quite well by the addition of a frother alone, such as pine oil or Du Pont B23. Water-avid diamonds: Partial flotation of the smaller sizes of wettable diamonds can be achieved by preconditioning with fatty acid soaps, cationic amines, and similar reagents, which will impart a water-repellent film to diamonds. Washing to remove excess reagent, followed by flotation, will result in a fair recovery, but the latter is much lower than for water-repellent diamonds. Crushed boart: Recovery of crushed boart from the waste products of industrial uses is best accomplished by first conditioning the diamonds present in the mixture with fatty acids, cationic amines, etc., removing the conditioning agent by washing, and floating in a cell of the pneumatic type. Flotation reagents found to be most suitable are Du Pont B23, and Aerofloat 25 together with cresylic acid. The optimum quantities are 1.2 g Du Pont B23, and 0.55 g Aerofloat plus 1.4 g cresylic acid, per liter of pulp in the cell. A solids-to-water ratio of 1 to 4 is found to be the most suitable, and alkaline circuits are necessary for best results. Diamonds larger than 28 mesh are not recovered satisfactorily by this procedure, but for finer sizes flotation offers an excellent procedure for the reclamation of this strategic industrial material.

Jan 1, 1952

MINING AND METALLURGICAL SOCIETY OF AMERICA San Francisco Section The San Francisco Section of the Mining and Metallurgical Society of America held a joint meeting with the local section of the American Institute of Mining Engineers at the Engineers' Club, San Francisco, on Tuesday, Apr. 16, 1918. The meeting was preceded by a dinner. Letters from the parent body in NewYork asking for the consideration of the proposed bill before Congress, and an expression of opinion relative to the appointment of a Federal Administrator of Mines justified the joint meeting of the local sections of the two mining societies, in that a more representative opinion of the engineers of California could he obtained. The meeting was called to order at 7:15 P.M. by Mr. Frank H. Probert acting as Chairman. About thirty engineers were present. Mr. Probert read a letter of March 14, from Secretary Huntoon, asking that the meeting be called. He read excerpts from Bulletin 117 of February 28, 1918, of the Mining and Metallurgical Society containing a copy of the proposed bill, so that all present might be advised of its essential contents. He briefly commented on the urgent need of such legislation and invited discussion of the subject. After long and thorough discussion on the part of the members present, Professor Lawson made the following motion: I move that a resolution expressing the sense of the joint meeting of the local sections of the American Institute of Mining Engineers and Mining and Metallurgical Society of America be forwarded to the secretaries of the two societies to the effect that we heartily approve of the purpose and intention of the bill designed to promote and stimulate the production of minerals necessary for the successful prosecution of the war; and that we suggest prices should be fixed for the period of the war and two years thereafter, and that these prices, guaranteed by the Government, should apply at the nearest shipping point to place of production of the minerals. This motion was carried. The meeting then adjourned, and a telegram was sent by Mr. Probert, the Chairman, to Mr. Huntoon, notifying him of the motion that had been carried at the meeting.

Jan 7, 1918

By J. J. Jakosky

The fundamental hydrodynamic principles governing the production of oil from wells have been carefully studied and evaluated by many investigators. These prior studies are quite complete and cover virtually the entire field of oil production and recovery.' One of the most important measurements in production studies is that of the bottom-hole pressure at various rates of production.2 It is the purpose of this paper to outline the technique and economics of fluid-level measurements as applied to pumping wells and to review briefly other methods for obtaining bottom-hole data. The applications of bottom-hole pressure or fluid-level measurements are based on simple hydrodynamic principles. Under equilibrium conditions, pbh = hd + pg + pch [1] when pbk = bottom-hole pressure, Ib. per sq. in. absolute, h = height of fluid in well, ft., d = average fluid density, Ib. per sq. in. per foot, p, = weight of section of gas column 1 in, square from fluid level to casinghead, Pch = casinghead pressure, Ib. per sq. in. absolute. In words, equation 1 states that the bottom-hole pressure is equal to the weight hd of the column of fluid plus the weight of the column of gas between the fluid and the casinghead plus the casinghead pressure. At moderate rates of flow, the rate of production is approximatcly proportional to the difference between the reservoir, or static bottom-hole. pressure and the flowing or producing pressure; i.e.: Q = c(pr - pbh) [2] pr = the reservoir pressure, c = the constant of proportionality. However, at production rates approaching zero and also at high rates the proportionality may break down. By combining equations 1 and 2 the

Jan 1, 1939