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Jan 1, 1940

Jan 1, 1942

Jan 1, 1942

Jan 1, 1943

Jan 1, 1946

Jan 1, 1944

By R. Dawson Hall

Discussion of the paper of R. DAWSON HALL, presented at the San Francisco meeting, September, 1915, and at the New York meeting, February, 1916, and printed in Bulletin No. 105, September, 1915, pp. 2013 to 2021. R. DAWSON HALL, New York, N. Y.-The general practice in the past has been to view the roof as being somewhat subject only to shear. In fact the action of the roof under the stress of its own weight has been but little considered, not because the matter is unimportant but because it is so complicated that it has been felt that an analysis of it would not result in any conclusions definite enough to justify the inquiry. The result has been that the consideration of the subject has fallen into the hands of persons who are not experts in the study of beam and plate stress. They have been disposed naturally to view the destruction of the roof as the outcome of the simplest of stresses-vertical shear. In the lack of a careful consideration of the conditions of roof fracture it was thought that the roof consisted of a number of horizontal layers, which were each of them weak, because, no matter how strong they might be they usually lacked sufficient depth. This view of the condition of the roof would naturally lead one to expect that it would yield to bending moment, the various layers succumbing one by one to their lack of the necessary radius of gyration to meet such severe stresses. But,

Jan 5, 1916

By William E. Ford, Edward Salisbury Dana

Examination in the Wet Way Examination by Means of the Blowpipe 479. The complete investigation of the chemical composition of a .mineral includes, first, the identification of the elements present by qualitative analysis, and, second, the determination of the relative amounts of each by quantitative analysis, from which last the formula can be calculated. Both processes carried out in full call for the equipment of a chemical laboratory. An approximate qualitative analysis, however, can, in many cases, be made quickly and simply with .few conveniences. The methods employed involve either (a) the use of acids or other reagents " in the wet way," or (b) the use

Jan 1, 1922

By E. Gilpin

Any estimate of the economic mineral value of an unvisited district is to the mining engineer largely a comparative one. If he knows that certain minerals characterize any given geological horizon he naturally draws upon his experience of the same ores as met by him cinder similar geological conditions. And if he has not had the personal experience, the investigation of the geology of a similar district as given in a trustworthy report enables him to lay a fair basis for conclusions. In a general way these conclusions are of value, and while they pronounce on the possible mineral fecundity of a given district, they

Jan 1, 1890

By S. P. Kinney, A. J. Boynton

This paper states that progress in blast-furnace engineering during the past five years is unimportant except for the advent of the electric precipitator for gas cleaning. It describes improvements in certain furnace details and in materials of construction. The paper is largely given over to a discussion of difficulties in operation due to disproportion between the diameter of the present-day furnace at the bosh and at the stock line. It is proposed to remedy this disproportion, and to restore relations in the diameter of stock line and bosh as they formerly existed, by a new method of filling. This method requires a double bell arranged to discharge towards the periphery or towards the center of the furnace. Coke is classified into two sizes, the small size going to the middle of the furnace, and the larger to the periphery along with the ore. By this means the resistance of the center of the furnace is increased, and the stock line diameter may be greatly increased. The writer believes that these modifications will result in a somewhat improved fuel economy and regularity of operation and also in a very greatly reduced production of flue dust.

Jan 1, 1935

By S. P. Kinney, A. J. Boynton

This paper states that progress in blast-furnace engineering during the past five years is unimportant except for the advent of the electric precipitator for gas cleaning. It describes improvements in certain furnace details and in materials of construction. The paper is largely given over to a discussion of difficulties in operation due to disproportion between the diameter of the present-day furnace at the bosh and at the stock line. It is proposed to remedy this disproportion, and to restore relations in the diameter of stock line and bosh as they formerly existed, by a new method of filling. This method requires a double bell arranged to discharge towards the periphery or towards the center of the furnace. Coke is classified into two sizes, the small size going to the middle of the furnace, and the larger to the periphery along with the ore. By this means the resistance of the center of the furnace is increased, and the stock line diameter may be greatly increased. The writer believes that these modifications will result in a somewhat improved fuel economy and regularity of operation and also in a very greatly reduced production of flue dust.

Jan 1, 1935

By Rizzi Homestake Mining Co.

Geophysical methods of discovering new mineral deposits have long been routine with both the petroleum and mining industries. Experience has shown that most subsurface structures and mineral deposits can be located, provided that detectable differences in physical properties exist. The main properties exhibited by the more common rocks and formations are: density, magnetism, electricity, electrical conductivity, and radioactivity. This entails five major geophysical methods: gravitational, magnetic, seismic, electrical, and radiation. Applications of radioactivity measurements in geophysical exploration are concerned with location of concentrations of radioactive rocks and materials, such as uranium. The search for uranium ores and minerals has been carried on for more than 50 years, ever since the first atomic breakdown from uranium to radium was discovered. However, the comprehensive search now being made throughout the world for radioactive materials is a direct result of the first atomic explosion and the subsequent development of new and more sensitive portable equipment to detect radiation.

Mar 1, 1956

By George Stone

THE stack gases from regenerative furnaces are very seldom utilized for the production of steam. If the temperature of the gases is not higher than 300° C. (572° F.) there is no economy in their use for this purpose, as the amount of available heat is very small and the temperature is so little above that of the steam that the interchange is too slow. With higher temperatures of the waste gases, however, good results can be obtained. At the plant of the New Jersey Zinc Co. (of Pa.) at Palmerton there are a number of return tubular boilers, each 6 ft. in diameter and 20 ft. long, with 96 3.5-in. tubes, which are heated by the waste gases from the spelter furnaces. These furnaces have continuous regenerators heating the air only and the stack gases reach the boilers at a temperature of about 450°. The gas producers for one of these furnaces require 14 tons of anthracite (a mixture of Nos. 2 and 3 buckwheat), and the waste heat from the furnace gives a little more than 42 h.p. in steam. The boilers are not well adapted for the purpose, as they are much too large for the amount of heat going to them and the area of the tubes is not sufficient to take the gas from two furnaces without causing an objectionable amount of back pressure. The plant was built without any idea of using waste-heat boilers, and it was impossible to place the latter as close to the furnaces as they should be. Furnace and boiler are connected by an underground brick flue in which the temperature of the gas drops about 100°, losing 40 per cent. of its available heat. If the .boilers were close to the furnaces the horse power of each would be 70 instead of 42. Even under these unfavorable conditions the boilers have been very advantageous, as one boiler easily supplies the steam necessary for two batteries of producers. With such low gas temperatures the heating surface of the boilers is, of course, not as efficient and the flue areas need to be considerably larger than for coal firing.

Jan 10, 1913

[President and Director *JOSEPH L. GILLSON, '62 Wilmington, Del. Past President and Director *HOWARD C. PYLE, '61, Los Angeles, Calif. President-elect and Director *R. R. McNAUGHTON,'63, Trail, B.C., Canada Vice-Presidents and Directors *JOHN CHIPMAN,'62, Cambridge, Mass. *JOHN P. HAMMOND,'61, Tulsa, Oklahoma *WALTER R. HIBBARD, JR.,'61, Schenectady, N.Y. *BASIL P. KANTZER, '61, Los Angeles, Calif. *S. D. MICHAELSON,'61, Salt Lake City, Utah *J. W. WOOMER, '62, Pittsburgh, Pa.]

Jan 1, 1961

By M. D. Cooper

UNDERGRADUATES in mining engineering may be prepared for work by giving them sound instruction in the courses generally considered essential to the profession. The industry is not deeply concerned about the details of those courses. The average man in the coal industry does not wish to insist upon a rigid program. Therefore, he differs little from those in the teaching profession who evidently are not unanimous in their opinions, or all college catalogs would be alike. For the good of the profession, it is just as well that there should be differences in regard to details. It appears that students graduating in mining engineering from the accredited institutions receive similar instruction. It is taken for granted that the graduate will have a good understanding of English, mathematics, mechanics, electricity, chemistry, physics, geology, and surveying, in addition to his major courses in mining. Somewhat belatedly, industry hopes he will have had at least an introduction to the subject of labor relations, the importance of which is only too clear at present. The coal industry expects, of course, that students in mining engineering will be taught the strictly mining subjects by men who have had practical experience in the mines and who keep themselves well informed in regard to current methods. While the undergraduate is subject to the control of members of the teaching profession, industry expects him to be trained in certain ways that are not a part of his textbooks, but can be made an inseparable part of his development by the skillful supervision of his teachers. Of the desired characteristics, dependability is of the utmost importance. Probably most employers would overlook certain short-comings if the young graduate demonstrated that he was thoroughly dependable. If he always appeared at the right place at the right time with the proper equipment, he would soon be well established as a welcome member of his organization. The graduate who gets a reputation for being undependable will have little opportunity for advancement. Closely allied to dependability is loyalty. Athletic teams and social groups in college tend to develop loyalty which may well be carried over into industry. This does not mean that the graduate has to be satisfied with customary practices. The average manager is glad to see the graduate make constructive criticism as long as he demonstrates his loyalty at the same time. It is important that his loyalty keeps him alert arid ready to take helpful action for the benefit of his organization, and especially to stand with it during times of stress. With or without an introduction to labor relations in college, the graduate is expected to develop ability in this most important field. Beginning with himself, he will find it essential to deal agreeably with his immediate associates. Getting along in friendly fashion with his own small group will be a great help as his responsibilities increase and he is required to deal with larger numbers of persons. On a higher scale, his interest in his community may grow at the same time by voluntary work in any one of a great number of useful activities. Industry expects the graduate engineer to be a mature man at the time he gets his first job. Supposing that he has better than average intelligence, industry expects him to continue to grow intellectually and to fit himself for responsible jobs when they are offered to him. For this reason, employers are apt to look over his college record to see what he did that would indicate his fitness for leadership. There is interest in knowing what he did beyond the requirements. As evidence of his mental growth, it is expected that the graduate will do independent thinking; that he will not take too much for granted. When he reads a report, he should develop the ability to see whether the subject is new or whether it is just a description of an old method that has been superseded by something better. For the same reason, the graduate should be able to accept conditions that have been arrived at by sound experience rather than cling to something else that seems better in theory. In this connection, it may be remarked that the ability to operate successfully a personal budget will be noteworthy, as it may be assumed that a man who knows how to conduct his own affairs will be prepared to assume the larger responsibilities of industry. Membership in AIME will indicate to the employer that the graduate is interested in the mining industry as a whole. Therefore, it is good evidence of something more than a local outlook. Quite apart from college training and mental ability, the newly employed graduate will be expected to be willing to do hard manual labor for a time. This will give him an understanding of the actual conditions of work done by those he supervises later. He will gain their confidence and be able to see that the work is carried on in a safe and efficient manner. Part of this experience may be acquired in his summer vacations during his undergraduate career. Such work would make a favorable impression on a prospective employer, especially if the graduate showed a willingness to continue it until he was prepared for something better. To summarize, the man in authority in the coal industry will not quarrel with the professor of mining engineering over details of curriculum. He will be pleased if the school sends him graduates who possess a good foundation in the courses studied, and who may be depended upon to do their work faithfully and intelligently. Such men will be ready when the time comes to assume their places as leaders of an essential industry.

Jan 1, 1951

By M. D. Cooper

UNDERGRADUATES in mining engineering may be prepared for work by giving them sound instruction in the courses generally considered essential to the profession. The industry is not deeply concerned about the details of those courses. The average man in the coal industry does not wish to insist upon a rigid program. Therefore, he differs little from those in the teaching profession who evidently are not unanimous in their opinions, or all college catalogs would be alike. For the good of the profession, it is just as well that there should be differences in regard to details. It appears that students graduating in mining engineering from the accredited institutions receive similar instruction. It is taken for granted that the graduate will have a good understanding of English, mathematics, mechanics, electricity, chemistry, physics, geology, and surveying, in addition to his major courses in mining. Somewhat belatedly, industry hopes he will have had at least an introduction to the subject of labor relations, the importance of which is only too clear at present. The coal industry expects, of course, that students in mining engineering will be taught the strictly mining subjects by men who have had practical experience in the mines and who keep themselves well informed in regard to current methods. While the undergraduate is subject to the control of members of the teaching profession, industry expects him to be trained in certain ways that are not a part of his textbooks, but can be made an inseparable part of his development by the skillful supervision of his teachers. Of the desired characteristics, dependability is of the utmost importance. Probably most employers would overlook certain short-comings if the young graduate demonstrated that he was thoroughly dependable. If he always appeared at the right place at the right time with the proper equipment, he would soon be well established as a welcome member of his organization. The graduate who gets a reputation for being undependable will have little opportunity for advancement. Closely allied to dependability is loyalty. Athletic teams and social groups in college tend to develop loyalty which may well be carried over into industry. This does not mean that the graduate has to be satisfied with customary practices. The average manager is glad to see the graduate make constructive criticism as long as he demonstrates his loyalty at the same time. It is important that his loyalty keeps him alert arid ready to take helpful action for the benefit of his organization, and especially to stand with it during times of stress. With or without an introduction to labor relations in college, the graduate is expected to develop ability in this most important field. Beginning with himself, he will find it essential to deal agreeably with his immediate associates. Getting along in friendly fashion with his own small group will be a great help as his responsibilities increase and he is required to deal with larger numbers of persons. On a higher scale, his interest in his community may grow at the same time by voluntary work in any one of a great number of useful activities. Industry expects the graduate engineer to be a mature man at the time he gets his first job. Supposing that he has better than average intelligence, industry expects him to continue to grow intellectually and to fit himself for responsible jobs when they are offered to him. For this reason, employers are apt to look over his college record to see what he did that would indicate his fitness for leadership. There is interest in knowing what he did beyond the requirements. As evidence of his mental growth, it is expected that the graduate will do independent thinking; that he will not take too much for granted. When he reads a report, he should develop the ability to see whether the subject is new or whether it is just a description of an old method that has been superseded by something better. For the same reason, the graduate should be able to accept conditions that have been arrived at by sound experience rather than cling to something else that seems better in theory. In this connection, it may be remarked that the ability to operate successfully a personal budget will be noteworthy, as it may be assumed that a man who knows how to conduct his own affairs will be prepared to assume the larger responsibilities of industry. Membership in AIME will indicate to the employer that the graduate is interested in the mining industry as a whole. Therefore, it is good evidence of something more than a local outlook. Quite apart from college training and mental ability, the newly employed graduate will be expected to be willing to do hard manual labor for a time. This will give him an understanding of the actual conditions of work done by those he supervises later. He will gain their confidence and be able to see that the work is carried on in a safe and efficient manner. Part of this experience may be acquired in his summer vacations during his undergraduate career. Such work would make a favorable impression on a prospective employer, especially if the graduate showed a willingness to continue it until he was prepared for something better. To summarize, the man in authority in the coal industry will not quarrel with the professor of mining engineering over details of curriculum. He will be pleased if the school sends him graduates who possess a good foundation in the courses studied, and who may be depended upon to do their work faithfully and intelligently. Such men will be ready when the time comes to assume their places as leaders of an essential industry.

Jan 1, 1951

Receipts, Jan. 1, 1914, to Dec. 31, 1914 Cash on hand, Jan, 1 1914 General Funds $1,843.54 Special Funds 1,039.00 $2,882.54 Initiation Fees $8,500.00 Annual Dues 44,060.84 Life Memberships 1,950.00 54,510.84 Sale of Transactions 4,798.87 Sale of Binding 10,029.06 Sale of Bulletins and Pamphlets 2,508.25 Sale of Special Editions 1,290.74 Sale of Advertising 8,783.29 Sale of Library Books 54.97 Sale of Pins and Fobs 347.65 Miscellaneous Sales 21.66 Space Released 5,943.00 Interest on Investments and Bank Deposits 230.15 34,016.64

Jan 1, 1917

By Elizabeth L. Robinson

INTRODUCTION The financial structure of the mining industry has changed strikingly over the last thirty years. The changes that have taken place in the last ten years include both the acceleration of adverse trends in familiar balance sheet numbers and ratios, and the subtle but extensive increase in the complexity and diversity of funding sources, both on and off the balance sheet. The objectives of this paper are: 1. to briefly trace the evolution of trends in the mining industry's financial structure; 2. to focus in more detail on changes in the last decade; and 3. to analyze those trends both within the framework of capital structure theory, and in the context of changes in business and economic conditions. This survey focuses primarily on the mining companies listed on the major U.S. stock exchanges, since financial data for these firms are readily available. The producers of minerals are a diverse lot, however, and the quantitative data on "the mineral industry" as characterized in this survey fails to encompass the financial arrangements for the bulk of production worldwide, whether owned by governments or private-sector enterprises. Even large portions of the U.S. minerals industry - subsidiaries of still larger firms, medium-sized privately-held companies, and the small miners - were not included in the quantitative part of the analysis. THE EVOLUTION OF THE INDUSTRY'S FINANCIAL STRUCTURE In the aftermath of the business failures of the Great Depression, most borrowers and lenders considered minimal debt on the balance sheet the soundest policy. By the 1950's, however, a body of literature was developing which demonstrated that the use of leverage could improve the value of the firm, given a corporate tax structure which allows interest, but not dividends, to be deducted from income. Optimal Capital Structure The objective of undertaking a new project is to improve the wealth of the current owners of the firm. If internally-generated funds are insufficient to allow growth at the desired rate, the company can raise funds either by issuing new equity, or by incurring debt. The most attractive source is the one which will provide the funds for the lowest cost. Both stockholders and lenders expect to receive compensation for use of their funds at a rate which reflects two things: (1) the return they could earn in alternative investments, and (2) the riskiness of the projected return. Factors which increase business risk include the variability of demand, sales prices and input prices, and "operating leverage", or the proportion of fixed to variable costs. In addition, from the investors' point of view, the use of financial leverage concentrates risk onto the shareholders, because lenders enjoy a prior claim in the event of bankruptcy. So although financial leverage can increase a project's expected rate of return, and therefore, presumably, earnings per share, too much debt will be perceived as uncomfortably risky by equity investors, and have a negative effect on stock prices. In theory, then, there should be an optimal level of debt which the firm's managers should seek to obtain in its financial structure. The desirable proportion of debt should in general be lower for a firm with a higher inherent business risk. In addition to their own judgement, financial managers are sensitive to the attitudes of lenders, rating agencies, and investment bankers in setting financial targets (Scott and Johnson). In practice, financial structure will also depend upon the company's growth rate and level of profitability, and conditions in the capital markets at a given time.

Jan 1, 1985

By W. P. Lass

The purpose of this article is not only to describe the plant and method of cyaniding the Treadwell concentrates, but to present some of the results of the experimental work obtained in the past three years for the Alaska-Treadwell Qold Mining Co., at Douglas Island, Alaska, under the direction of F. W. Bradley, Consulting Engineer, and Robert A. Kinzie, General Superintendent, of the affiliated companies. At the time the experimental work was undertaken the concentrates were being shipped to the smeltery at Tacoma, Wash., and the cost for treatment of 3-oz. (gold) concentrates was $11.95 per ton, divided as follows : Smelting-charges,......... $4.00 Loading, freight, insurance, etc., . 2.89 Interest due to time loat in transit and in settlement,... 0.05 Loss due to settlement for 95 per cent. of the gold at $20 per ounce, 6.01 Total,...$11.95 From the experimental work described later, it was estimated that 96 per cent. extraction could be made by treatment on the ground, and that the cost, when treating 80 tons per day, would be $3.25 per ton, divided as follows : Per Day. Per Ton. Labor,. $86.16 $@.827 Chemicals,.76.60 0.960 Power and steam-heat,... 67.60 0.845 Marketing-, refining- and other charges, . 49.36 0.617 Totals,.. $2.59.72 $3.250 Adding to this total the 4 per cent. treatment-loss, which on 3-02. concentrates amounts to $2.48, gives a total cost of $5.13 per ton. Comparing this with $11.95, the cost when shipping to the smelter, leaves a net gain of $6.22 per ton by the local

Jan 1, 1912

Established as Mining, Geology and Geophysics Division, Sept. 27, 1949 Name changed February 19, 1958 Robert J Lacy, Chairman John G Hall, Assistant Chairman Vice-Chairmen Peter Joralemon, Membership J M Ehrhorn, Program John C Wangaard, Publications A W Ness, Secretary American Smelting & Refining Co 600 Crandall Building Salt Lake City 1, Utah

Jan 1, 1960