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By David, Levinger

THESE observations of the metal-working industries of Europe are based on a three months' tour of eight countries of Europe, in which 75 industrial establishments were visited in England, France, Germany, Belgium, Holland, Italy, Austria and Switzerland during the summer of 1927. Since the Western Electric Co. is a large consumer of copper and brass, these industries were of particular interest and differences in practices were of keen interest to us.

Jan 1, 1928

By Thomas T., Read

IT is difficult to judge how much influence the success attained during its first year, 1864-65, by the School of Mines at Columbia had on developments in education for the mineral industry elsewhere in the immediately subsequent years. The facts are as follows: 1. The Massachusetts Institute of Technology began giving instruction in February 1865, with a mining course included in its curriculum. 2. Early in 1865 the faculty of the Department of Science, Literature and the Arts of the University of Michigan requested permission from the Regents to establish "a course of study to be called the School of Mines . . . Also that the degree of Mining Engineering, be conferred on students who should complete the course of study prescribed in the same." A resolution authorizing this was adopted by the Regents on March 28, 1865. 3. Samuel Hooper endowed a Sturgis-Hooper professorship of geology at Harvard in 1865 with the intention of making it a nucleus of a new School of Practical Mining and Geology. 4. Yale appointed Alfred P. Rockwell professor of mining in 1865. 5. Lafayette College appointed Henry S. Osborn professor of mining and metallurgy in 1865. 6. Washington College (as Washington and Lee was then known), rising out of the ashes of Civil War destruction, made a fresh start in 1865, with Generalized as its president, and offered a mining course in the first catalogue thereafter published. 7. Lehigh University, founded in 1866, had a mining curriculum from its beginning. 8. Rensselaer Polytechnic began offering a curriculum in mining and metallurgical engineering in 1867. It would be natural to suppose that these events were a reaction, to the success of the school at Columbia, - and possibly they

Jan 1, 1941

By TSUYEE PEI

I FEEL greatly honored and appreciate this opportunity to be able to say a few words about that rather perplexing subject, silver. The constant decline in the price of this metal has now reached the stage where it is of much concern and the cause of serious discussion among the leading financiers, economists, and statesmen of the world. Further- more, it is significant that this subject is so important that almost every day one can read articles pertaining to it in the newspapers and trade publications. Being essentially a banker, and not an economist, I do not claim to be an authority on the silver question. These remarks are merely some of my observations in, regard to the many puzzles which-I came across in my recent studies of this very important question.

Jan 1, 1931

By PHILIP N. MOORE

THE development of the power of the Tennessee River at Muscle Shoals has become a matter of political interest as well as engineering possibility. The controversy over it has been so active that the facts have been obscured, the possibilities exaggerated. Although the members of the American Institute of Mining & Metallurgical Engineers are not generally specialists in hydroelectric development, those who visited Muscle Shoals in October, following the Birmingham meeting of the Institute, were interested, and many of them surprised to learn the actual conditions. These have long been familiar to those who have studied the matter through the reports of the U. S. Engineers on the subject. The approved plan contemplates three dams-No. 1, a low dam close to the City of Florence, planned in the interests of navigation, since the construction of the other dams has rendered impossible the use of the river without it. No. 2-named the Wilson Dam is now under construction. Concerning it political argumentation has waged. No. 3 Dam-much smaller, is planned to be erected several miles above No. 2.

Jan 1, 1925

By Jack C. Haptonstall

Abstract-Minas de San Luis, S.A. operates the old Tayoltita mine located in the Sierra Madre Occidental in Durango, Mexico. Yearly production is 55 000 kg (1.7 million troy ox) of silver and 1000 kg (31,000 troy ox) of gold from milling 165 000 t/y (181,900 stpy) obtained from fissure veins. A 4.4 km (2.75 miles) adit, to intersect the veins below existing workings, was completed in 1974. The adit and ancillary projects facilitated extensive mechanization of the mine, ramp development of it, integration of duplicate facilities and elimination of obsolete facilities. It provided a deep-level access for exploration and development of the veins, and resulted in a 25% increase in production with the same labor force. The cost of the in-house financed project was $3.4 million.

Jan 2, 1978

By HILAND BATCHELLER

COMMENT on the economic significance of the special alloy steels seems inevitably to reduce itself to an attempt to peer into the future of the industry in which we are interested. We are all familiar with the historical development of iron and with the almost complete replacement of iron by steel. Those who have been connected with the industry since its .early days have had the satisfaction of witnessing the greatest industrial development the world has seen. As the cartoonists of the muck-raking decade liked to picture steel as an ogre armed with a spiked club, his hands reeking with blood and with golden coins dripping from his pocket, fiercely seeking for more widows and orphans to devour, I choose to call on my imagination to create a gigantic but beneficent robot of such marvellous mechanical skill. that it quickly transforms millions of tons of otherwise worthless material into the infinite variety of useful products which are so largely responsible for our present civilization.

Jan 1, 1931

By C. R. Dale

IT IS the purpose of this paper to point out a number of the most common causes of crooked holes; to outline methods of drilling and straightening which to my personal knowledge have proved successful in numerous cases; to describe some of the characteristics of holes which, though not crooked in an exaggerated sense, may still cause serious mechanical trouble if not recognized and properly remedied; and to define clearly the part of oil-well surveying in the concerted effort operators generally are making to keep their wells straight from spudding to completion

Jan 1, 1931

By F. C. Noyes

DAME Nature was in a generous mood when she distributed widely over the face of the globe numerous deposits of phosphate rock from which man can make phosphatic festiIizer to replace the phosphate re- moved from the soil by crops. The principal deposits are readily accessible to the world's greatest consuming areas and most of them are such that mining operations can be carried on at relatively low cost. The world's known reserves shown in Table 1 are sufficient to last well over 2000 gears at the present rate of consumption. Before giving a brief outline of the phosphate rock industry of foreign countries let us try to get a picture of the movement of phosphate rock throughout the world in 1938, the last full normal calendar year where it came from and where it was consumed. Table 2 shows the origin and finial destination of world shipments in 1938 by grand divisions. Table 3 (p. 499) shows shipment9 of phosphte rock to each country in Europe. Europe is seen to be by far the world's greatest market and the French North African mines the world's most important producers outside of the U. S. A.

Jan 1, 1944

By C. W. Hall

MINE executives, as a rule, have always been willing to adopt new ideas of operation, or to listen to proposals which might increase the effectiveness of their enterprise, more especially so if they could be shown how definite results might be attained by introducing any conception suggested. In these days of high wages, high cost of supplies, and high taxes, operators are even more inclined to accord consideration to innovations or improvements, and many go so far as to employ men to conduct special investigations and make studies for the purpose of advancing production. Where a man is brought into an organization to do work of an efficiency nature, it often creates resentment among the operative heads because of having their work directly scrutinized, or investigated, and there is a tendency, if not actually to obstruct, to fa.il to cooperate; in which case the investigator is handi-

Jan 1, 1925

By Sumner M. Anderson

Any discussion of outside support to Latin American mineral industries must concede at once the pre-eminent role of U. S. industry and business. American capital has developed the great copper resources of Chile and Peru, the lead-zinc of Peru and Mexico, the bauxite of Surinam and Jamaica, the petroleum and iron ore of Venezuela. American consumers have provided the market for their products. U. S. companies operating south of the border have trained Latin American geologists, engineers, chemists, and skilled labor—including metal, mineral, and fuel technicians—to new and greater competence. The industrial demands of World War II drastically altered world economics and concepts of U. S. foreign mineral requirements. In this country discovery of vital mineral resources fell far behind the alarming depletion rates, and there was new appreciation of the actual and potential importance of the world's less extensively explored areas. During the war and afterward, the task of supplying the nation's mineral requirements became greater than private industry could carry alone, and the Government assumed a position of continuing support. In Latin America, as elsewhere, this support applies in three categories: banking, procurement, and technical assistance. The first two are now generally accepted as necessary Government functions; the third has often been misunderstood and misinterpreted, although it has given rise to legitimate controversy. There have been major accomplishments in all three categories, as well as some errors of judgment. Since the beginning of World War 11, U. S. Government financing, procurement, and technical assistance have been applied on a large scale to a wide range of commodities and services throughout the free world. The present discussion—under the separate headings mentioned—will concern only the support related to a single industrial group in a single geographic area. During the War Federal banking was conducted on an emergency scale by temporary agencies created to meet the abnormal circumstances. Unfortunately, there are no readily available data on these activities that would permit evaluating loans and credits extended for mineral projects in Latin America. The only agency operating in this field since World War II is the Export-Import Bank, under its own authority and to some extent from credits authorized by the Office of Defense Mobilization. The Bank can offer more capital—on more favorable terms—than is available from most Latin American banks, and its staff of engineers evidently can appraise loan applications more favorably than commercial banks in this country are willing to do. The risks seem to be justified, as defaults have been well under 1 pct of total loans. From V-J day 1945 to the end of 1957, mineral loans to Latin America have been authorized for projects totaling $541.63 million in eight countries. In order of magnitude of credits, they have been made to Brazil, Peru, Chile, Mexico, Argentina, Venezuela, Guatemala, and Bolivia. In order of magnitude by industries. they are for development and expansion of steel mills, copper, manganese, nitrate plants, iron ore, zinc plants, sulfur plants, cement plants, tungsten, coal, and lead. Loan Distribution: By far the largest loans have been $307.9 million for iron and steel projects in Brazil, Chile, Mexico, Argentina, and Peru: $100.4 for developing the great low-grade copper deposits of southern Peru; and $55.3 million for developing manganese deposits in the Territory of Amapa, Brazil. Others range from $20.8 million for a zinc smelter in central Peru to $19 thousand for iron-mine trucking equipment in Chile. It has been noted that 59 pct of the loans have been to foreign companies, 14 pct to companies of mixed foreign and American capital, and 27 pct to American mining companies. About 40 pct of the total authorizations has been disbursed so far. In addition to these amounts, the Strategic Materials Division of the Economic Cooperation Admin-

Jan 1, 1959

By Edward C. Stephens, Robert R. Coats

High-grade copper ore was discovered in 1932 in the long-dormant Mountain City (Cope) mining district, Elko County, Nevada. From 1932 to 1947, the one producing mine in the district, the Mountain City Copper Mine, produced 1,109,878 short dry tons of ore averaging 9.745 per cent copper, 0.274 ounces of silver, and 0.0057 ounces of gold per ton. The Mountain City Copper Mine is developed in eugeosynclinal rocks of Ordovician age, the Valmy Formation, which is part of the upper plate of the Roberts Mountains thrust. On the Valmy were deposited unconformably first, a elastic formation of Devonian or Mississippian age, the Grossman Formation, succeeded unconformably by a ·sequence of three conformable formations, the Banner, the Nelson, and the Mountain City. The Banner Formation probably is early Late Mississippian in age; the ages of the Nelson and Mountain City are not known precisely but are believed to be of Late Mississippian and Carboniferous(?) age, respectively. A thick formation of elastic rocks, limestone, and volcanics, the Reservation Hill Formation, has been thrust over the Mountain City. The age of the Reservation Hill is unknown but is presumed to be Pennsylvanian(?) and Permian(?). Several plutons of Cretaceous quartz monzonite intrude the Paleozoic formations; they and the intruded formations have been laid bare by erosion, and several sequences of volcanic rocks of Miocene and Pliocene age, and perhaps in part older, have been successively deposited on irregular erosion surfaces. The primary mineralization of the Mountain City Copper Mine is believed to postdate the deposition of the Nelson Formation and to predate the intrusion of the quartz monzonite. The primary ore bodies are lenticular in shape and are composed largely of quartz, pyrite, and chalcopyrite. The ore lenses, in general, strike northwestward and dip northward. They occur in the Valmy Formation within a definite stratigraphic sequence composed largely of shales with associated minor quartzite lenses. The ore is epigenetic. The principal ore body, the "200," was completely leached to the 200 level. Abruptly beneath the barren gossan was supergene copper sulfide ore, much of which assayed 50 per cent copper. The secondary copper minerals are sooty and massive chalcocite, bornite, and covellite. The supergene enrichment of the ore may have required a large part of Tertiary time.

Jan 1, 1968

By H. D. Hoskold

I. Instrument-Parts and Implements. Cross-hairs ; Stadia-measurement; Fineness of Graduation ; Cylindrical Gradu ation ; Nonius; Vernier ; One Vernier or two ; Leveling-Screws ; Troughton & Simms' Shifting Tripod-Head ; Hoskold's Shifting Tripod-Head; Hoskold's Extensible Tripod ; Electric Lamp ; Plumb-lines; Chain. II. Instruments. Compass (Mine-compaes of 1518, Compass of 1541, and Agricolals of 1556, Voig tel's Setz-compass, Circumferentor, Stanley's Hedley Dial, Compass on Tele scope, Hanging Compass, Lack of Precision) ; Plane-table; Octant and Quadrant; Theodolite and Transit (Evolution of the Theodolite, Scott's Tachymeter, Hoskold's Engineer's Theodolite, Angleometer, Precision of Mine-Theodolites). I. Instrument-Parts and Implements. Cross-Hairs.—Mr. Scott‡ says Lean's dial " might also have been provided with a diaphragm and cross-hairs; for Huygene discovered that any object placed in the common focus of the two lenses of a Kepler telescope (1611)- appeared as distinct and well defined as any distant body. Following this established theory, in 1669 Jean Picard, Marquis Malvasia and others crossed silken fibers in the mutual focus of their astronomical instruments." If by this Mr. Scott means that Huygens and Picard first devised and applied cross-hairs to the focus of the telescope, the writer cannot agree with him. Huygens did not describe " his telescope without tubes until 1684, in his Astroscopia Compendiaria."§ Moreover, it is recorded that the English astronomer, Gascoigne,?

Jan 1, 1902

By A. A. Stripling

The Cretaceous limestone wells of the Mara/Maru-caibo Dist. of Venezuela are extremely prolific producers. To maintain production on cessation of natural flow, large scale gas-lift operations were commenced involving high production rates on caring Flow. For the design of these gas-lift installations it was essential to have some knowledge of the pressure gradients involved in casing flow, so that the required injection pressures, optimum gas injection raws, etc., could be forecast. This paper presents a method of calculating these annular pressure gradients. Basically the method makes use of an energy balance equation coupled with an empirical energy loss factor derived from field data. The calculations have been put in a form suitable for "punch card-type" calculating machines. A set of gradient curves for Mara/Maracaibo conditions covering flow rates up to 12,000 B/D, and GOR's of 500 to 2,000 cu fd/bbl is presented. From these curves the flowing BHP can be predicted from surface data and the vertical pow performance under varying conditions of gas injection can be estimated. The method has been applied to La Paz and Mam gas-lift operations for over three years and has given consistently accurate results. INTRODUCTION The Cretaceous limestone fields of the Mara/Maracaibo area in Venezuela are characterized by the presence of widely distributed fissure systems. Under these conditions individual wells frequently have extremely high potentials and such wells are generally flowed on the casing-tubing annulus in order to reduce the pressure loss in vertical flow. To maintain production on cessation of natural flow, an extensive gas-lift system was planned. As a first approach to this gas-lift design problem, an attempt was made to construct a set of empirical flowing gradient curves from the available subsurface pressure data. Such a method has been used successfully for tubing-flow conditions in California by Gilbert'. Unfortunately, the empirical construction of casing-flow gradient curves presents additional difficulties, as pres- sure bombs cannot bc run in the casing-tubing annulus against high rates of flow. Thus, the Full flowing gradients cannot be defined by actual measurement and the best that can be done is to obtain spot pressures at the tubing shoe. Under these conditions a vast accumulation of BHP data is required to construct a set of gradients. To the La Paz and Mara fields the majority of the available flowing pressure measurements fall into a relatively narrow GOR range, in the neighborhood of the solution ratio. While there appeared to be reasonable prospects of constructing gradient curves for this limited range, measurements at higher GOR's, which were of major interest for gas-lift operations, were relatively few and the prospects of constructing empirical curves cor~spondingly remote. As an alternative approach, the possibilities of a mathematical analysis of vertical flow conditions were investigated. May and Laird2fV n 1934 presented an excellent analysis of the vertical-flow conditions in the Anglo-Iranian Oil Co.'s fields. Their analysis was based on an energy-balance equation and calculated the losses due to kinetic energy, friction and slippage separately. By combining these losses with the total calculated available energy, the required depth-pressure traverse could be deduced. On applying the method to La Paz conditions, good results were obtained for tubing flow at high tubing-head pressures. However, for lower wellhead pressures (300 psi and under) the discrepancy between calculated and measured values increased appreciably. It was considered that this was probably due to energy losses caused by slippage or liquid hang-up in a continuous gas phase, for which it was difficult to visualize any analytical approach. In 1952 Poettmann and Carpenter4 presented a method of pressure gradient calculation which, while based on an energy-balance equation similar to that employed by May and Laird, made no attempt to evaluate the various components making up the total energy loss resulting from irreversibilities of flowing fluids. Instead, they proposed a method of analysis which assumed that all significant losses for multiphase flow could be correlated in a form similar to that of the Fanning equation for frictional losses in single-phase flow. They then derived an empirical relationship linking measurable field data with a factor which, when applied to the standard form of the Fanning equation, would enable the energy losses to be determined. The total available

By H. C. Meister

THE zinc-smelting industry of the United States has grown very rapidly in recent years and bids fair to outrival that of all other countries in the future. On account of the geographical situation of the chief ore-supplies, the industry may be divided into two main groups, the eastern and the western. The eastern and older group includes the works of Pennsylvania, New Jersey and Virginia, which practically control their own ore-supply. The western group includes the works of Illinois, Missouri, Kansas, Wisconsin and Indiana, which do not control their own ore-supply, but are compelled to buy the ore in the open market. It is for this reason that the western zinc-smelting industry has been undergoing continual changes since its inception 40 years ago. During the early discoveries of lead- and zinc-ore in the lead- and zinc-districts of Wisconsin and northern Illinois, the zinc-ore (sinithsonite or " bone " as the miner calls it) had no value and was considered waste; but later, when this ore was found in large quantities, it attracted the attention of metallurgists, which finally resulted, during the early sixties, in the building of the Matthiessen & Hegeler Zinc Works at LaSalle, Ill., the pioneer zinc-works of the West. A few years later, zinc-ore was discovered associated with the lead-ore in Jefferson county, southeastern Missouri, which started the industry at Carondelet or South St. Louis. Still later, the discoveries of zinc-ore in the lead-ore region, first' at Granby and then around Joplin, lead to the introduction of the industry in the southwest Missouri and Kansas districts. At first the development of the industry was slow, but it progressed steadily and it is now one of the leading metallurgical industries of the middle West.

Jan 1, 1905

The following is an incomplete list of members and guests who called at Institute headquarters during the period Dec. 10, 1918 to Jan. 10, 1919. P. G. Bandy, Mexico City. Wm. B. McKinley, Yonkers, N. Y. Bennett R. Bates, Berkeley, Cal. Captain C. E. McQuigg, Conn. William T. Bates, Mascot, Tenn. Lt. H. G. Mathews, Cal. Lt. Don C. Billick, Alturas, Cal. Lt. M. S. Mazany, Mich. L. E. Booth, Watertown, Mass. Ralph A. Meyer, Hill City, S. D. J. T. Boyd, Denver, Colo. C. F. Moore, Boston, Mass. J. R. Buchanan, Pasadena, Cal. H. W. Nichols, Chicago, Ill. Ensign G. M. Burke. R. B. Olsen, Mays Landing, N. J. Captain E. H. Clausen. M. L. O'Neale, Gouverneur, N. Y. F. L. Cole, Manila; P. I. F. W. Osborn, New York, N. Y. Joules Cousin. Lt. Fred S. Porter, Alaska. A. Faison Dixon, Washington, D. C. G. M. Richards, Palmerton, Pa. James T. Dixon, London, England. T. C. Roberts, E. Orange, N. J. Everett Drennen, Elkins, W. Va. W. E. Ruder, Schenectady, N. Y. F. Eichelberger, Helena, Mont. Ensign W. A. RuKeyser, Boston. R. B. Eldredge, Colorado Springs, Colo. A. H. Sawyer, Boston, Mass W. F. Ferrier, Ottawa. Lt. D. F. Schindler, New York. Martin Fishback, Benson, Ariz. L. G. Sparks, Greenshurg, Kan. T. E. Fisher, Dover, N. J. W. H. Staver, New York N. Y. D. C. Gilbert, Ft. Wayne, Ind. Douglas B. Sterrett, St. Cyr, Canada. Lt. Lauriston B. Herr, Cuba. Warren D. Thompson. G. S. Holmquist, Washington, D. C. Enrique Touceda, Albany, N. Y. Lt. E. Ross Housholder, Ohio. Mathew van Siclen. Hugh C. Ingle, Santa Rosa, Cal. Flying Cadet Christian Vrang, Cal. Lt. M. W. Kishman, Ariz. L. G. Weeks, Bisbee, Ariz. Hugo E. Koch, Watertown, Mass. C. E. Wheelock, Mogollon, N. M. H. M. LaFollette, LaFollette, Tenn. Major A. E. White, Washington, D. C. Clinton R. Lewis, Dawson, Y. T. Lt. J. L. White, Humboldt, Ariz. The Secretary of the Institute has received with sincere appreciation a Christmas card extending the season's greetings from the officers' mess of the 3d Tunnelling Company, Canadian Engineers, B. E. F., France, and takes this means of reciprocating to these officers and men of the company the best wishes of the members of the Board of Directors. Charles E. Addams has removed from Ray, Ariz., to Phoenix, Ariz., where he is chairman and director of the Arizona State Council of Defense.

Jan 2, 1919

By AIME AIME

THE following paragraphs comprise such information as the Secretary has been able to obtain concerning the members and associates whose deaths have been reported. Further particulars or corrections of errors, and biographical data concerning deceased members or associates not already noticed in this way, are solicited. [SECRETARY'S NOTE.-All of these notices have been revised, and some of then have been more or less completely prepared, by me. To those which contain more particularly the expression of my personal feeling, my initials have been appended. The labor of preparing or editing these paragraphs has been in many respects both welcome and interesting, on the one hand, and sorrowful, on the other. In going through the list, I have repeatedly felt like one who, visiting the Morgue, suddenly comes upon the pale face of a dear friend, of whose death lie was not aware ; and, even when this fact was known to me, the work of recording it has brought upon me a flood of recollections, almost preventing the discharge of that official duty. The list for 1907 seems to me to he peculiarly sad, comprising, as it does, so many sudden deaths by violence or accident, so many veterans, removed too soon, and so many young men whose early departure impoverishes the future, even more than the present. Probably, this feeling on my part is largely due to the circumstance that the increased membership of the Institute necessarily in¬volves an increase of the annual death-list. Probably, also, it is connected with the circumstance that during the first years of the history of the Institute-say from 1871 to 1880-it was joined by men of all ages, and that the death-rate is consequently now above the average which would result from the normal annual addition, principally of young men. And finally, I must admit that, as one of the original members of the Institute, and practically connected with it for nearly thirty-seven years as Acting President, President or Secretary, I am peculiarly impressed and depressed by the successive deaths of those who were my associates in the years of its early struggles and triumphs. I do not wish to inflict upon my younger colleagues the melancholy reflections of an increasingly lonesome old man. In fact, my prevailing mood concerning the Institute is not at all melancholy, but triumphant and hopeful. If I may be permitted to preach at all, I would enforce, from the texts given below, a moral which many of them declare so forcibly as to preclude the necessity of expository enforcements-namely, the duty of every one of us, old or young, to give to his brethren, as he goes along, and without waiting for some future occasion for a comprehensive and monumental contribution to technical literature, the results of his observation and experience. When I look at this list of names, my personal sorrow over many of them is drowned in my professional reflection as to each and all-How much has died with

Jan 1, 1908

By James C. Ray

DURING the summer of 1931, I spent four months in a study of the Willow Creek district, Alaska. This work was part of a general investigation of the territory contiguous to the route of the Government- owned Alaska Railroad. It was conducted by the U. S. Geological Survey to determine the real and potential merits of the mineral deposits, to stimulate development of them, and thus to increase the traffic on the Alaska Railroad.

Jan 1, 1932

By T. G. Sieber, T. D. Tiemann

The extraction of quartz from siliceous iron ores by dissolution in sodium hydroxide solution has been described in detail in AIME Transactions. l923 data reported covered the temperature range from 230-416°F, where a continuous increase in the amount of silica extracted with increase in temperature was found. It is the purpose of this paper to describe some unexpected results of more recent work exploring principally the range of 500600°F where higher rates and greater amounts of silica extraction were antici-p ted. In brief, the experimental procedure consists in digesting the ore under pressure in solutions of sodium hydroxide, filtering the suspension and weighing and analyzing the dried residue for iron content. The amount of extraction is calculated from the weight loss or from the iron analysis of the residue and that of the original ore.

Jan 1, 1969

By J. R. Stone, G. D. Storm

Design features and operating methods of ASARCO's new unit for the continuous melting and casting of tough pitch copper at Perth Amboy are described. Preliminary studies made for determinitzg economic feasibility and design details are also presented. Cathodes are preheated with oil and melted in an electric furnace at 40-ton per hr rate, from whence the molten copper is fed simultaneously to the wire bar casting wheel and the continuous casting of cakes and billets. In the early 1950's the copper refining furnaces at ASARCO's Perth Amboy plant reached a point where major expenditures would have to be made for replacement of the furnaces and the auxiliary equipment. The problem was whether to continue with the standard reverberatory furnaces or to consider continuous melting in electric furnaces. Reverberatory furnaces have been used for years in the copper industry and for some 50 years at the Perth Amboy plant. Reverberatory melting practice, however, imposes certain restrictions. First, labor costs are high, usually requiring three shifts per day. Secondly, they operate on a batch basis, the conventional operation being a 24-hr cycle including

Jan 1, 1961

By C. W. Handy

ONE LAW cannot he evaded, the economic law of supply and demand. Silver, like any other commodity, is subject to this law; and its price in the long run is determined by existing conditions. I say "in the lone run because at times silver has appeared to mope contra to basic coalitions. Such movements, however, are, occasioned by the market's attempt to anticipate changes in these governing conditions. If the expected changes materialize then the new market level is justified, but if they do not then the market will revert to its previous status, A striking example of such a move occurred in November when the price advanced over 70, in ten days and then in the next two weeks lost more than it had gained. The reasons for this advance were that the speculative element interpreted certain events as favorable to silver namely, England suspension of the gold standard, higher shat prices, and the Chinese-Japanese crisis. When these expectations proved unjustified the inevitably, elapse followed became the governing conditions had not channel.

Jan 1, 1932