Search Documents

By Philip Henry

THERE is a difference of opinion among engineers on the subject of depreciation in general, and still more on its application to any given case. The committee which was appointed by the American Society of Civil Engineers to make a report on Valuation of Public Utilities, states "There is no subject connected with valuation about which there are more diverse views than those relating to depreciation;" and in the discussion which took place upon the presentation of the preliminary report of this committee in January, 1914, that part of the report dealing with depreciation called forth more discussion than any other. From this discussion it was evident that the word " depreciation" was not always used in the same sense, so it is quite important that some definition be adopted. As this paper relates to the proper method of treating depreciation by corporations or individuals operating oil properties, both of which must make a return of annual net income to the government in connection with the income tax, it will be in order to adopt the definition of the Internal Revenue Bureau. Under date of Mar. 29, 1910, the Commissioner of Internal Revenue of the Treasury Department stated "Deduction on account of depreciation of property must be based on lifetime of property, its cost, value and use." Again, on Form 1035, "Return of Annual Net Income" for miscellaneous corporations (Section 2, Act of Congress approved Oct. 3, 1913), a deduction from gross income is allowed for "Total amount of depreciation for the year." This item is defined more particularly as follows: "The amount claimed under Item No. 5 (b) for depreciation should be such an amount as measures the loss which the corporation actually sustains during the year in the value of buildings, machinery, and such other property as is subject to depreciation on account of wear and tear, exhaustion, or obsolescence. The amount taken credit for on this account in order to be allowable should be so entered on the books as to constitute a liability against the assets of the corporation. The amount claimed under this item should not cover losses in the value of stocks and bonds. Decrease in the book value of securities owned, so far as such decrease represents a decline in the actual value of such securities, should be deducted under item 5 (a) of the return.

Jan 1, 1915

By E. H. Burdick

THE difficulties inherent in table concentration operations as applied to gold, silver, lead and zinc ores, are accentuated in the scheelite mill, which has a flowsheet that is similar in general principles. The narrow "spread" in the specific gravity between scheelite and the usual gangue in which it occurs often makes its clean separation extremely difficult and in some cases impracticable. The problem is further complicated by the extreme friability of the mineral and its inordinate tendency to "slime," particularly where fine grinding is necessary and wet grinding methods are employed. The physical aspect of the occurrence of scheelite in the ores, the kind and character of the rock in which the mineral is present, its hardness, friability and the specific gravity of its constituents, as well as like characteristics of the associated mineral-spyrite, pyrrhotite, sphalerite, and others, all have a bearing on the successful milling of crude ores and the production of a concentrate that is marketable with minimum price penalty or none at all. Most tungsten deposits are considered low grade when the limiting factor of low percentage recovery by gravity methods is borne in mind. The great majority of deposits developed or in process of development carry from 0.4 to 1.0 per cent tungstic oxide. Ore carrying 1 per cent is considered good grade; 0.7 to o.8 per cent, fair, and below that figure, low grade. Steady mill feed averaging upward of 1.0 per cent WO3 is exceptional. Inasmuch as buying specifications demand a 60 per cent WO3 content, the mineral content of the ores as mined must be concentrated to at least that degree. A few companies have constructed chemical plants for the treatment of their complex concentrates and low-grade flotation product, but the smaller operator must rely on table concentration, borrowing the tools and to a large extent the methods of his predecessors in the gold, silver, lead and zinc mills. Whether these are the best tools and methods that can be devised is an open question. Except in rare instances, table concentration, however carefully conducted, does not yield a satisfactory final recovery of the mineral content in headings as indicated by chemical determinations of tungstic oxide content. A saving of 6o to 65 per cent is considered fair, and an average 80 per cent recovery, exceptional. Each scheelite ore body is a separate problem. Details of handling that give best results in one case may not be successfully operative at a property on the same contact zone and but a short distance removed. Supplementary treatment of tailings by flotation may be successful in producing a low-grade concentrate of around 15 per cent W03, which is adapted to further treatment chemically at a given property and entirely unsuccessful at another. This problem constitutes another of the unanswered questions. The following paragraphs relate solely to the beneficiation of scheelite ores by table concentration and supplementary methods.

Jan 1, 1942

By E. H. Burdick

THE difficulties inherent in table concentration operations as applied to gold, silver, lead and zinc ores, are accentuated in the scheelite mill, which has a flowsheet that is similar in general principles. The narrow "spread" in the specific gravity between scheelite and the usual gangue in which it occurs often makes its clean separation extremely difficult and in some cases impracticable. The problem is further complicated by the extreme friability of the mineral and its inordinate tendency to "slime," particularly where fine grinding is necessary and wet grinding methods are employed. The physical aspect of the occurrence of scheelite in the ores, the kind and character of the rock in which the mineral is present, its hardness, friability and the specific gravity of its constituents, as well as like characteristics of the associated minerals-pyrite, pyrrhotite, sphalerite, and others, all have a bearing on the successful milling of crude ores and the production of a concentrate that is marketable with minimum price penalty or none at all. Most tungsten deposits are considered low grade when the limiting factor of low percentage recovery by gravity methods is borne in mind. The great majority of deposits developed or in process of development carry from 0.4 to 1.0 per cent tungstic oxide. Ore carrying I per cent is considered good grade; 0.7 to 0.8 per cent, fair, and below that figure, low grade. Steady mill feed averaging upward of 1.0 per cent W03 is exceptional. Inasmuch as buying specifications demand a 60 per cent W03 content, the mineral content of the ores as mined must be concentrated to at least that degree. A few companies have constructed chemical plants for the treatment of their complex concentrates and low-grade flotation product, but the smaller operator must rely on table concentration, borrowing the tools and to a large extent the methods of his predecessors in the gold, silver, lead and zinc mills. Whether these are the best tools and methods that can be devised is an open question. Except in rare instances, table concentration, however carefully conducted, does not yield a satisfactory final recovery of the mineral content in headings as indicated by chemical determinations of tungstic oxide content. A saving of 60 to 65 per cent is considered fair, and an average 80 per cent recovery, exceptional. Each scheelite ore body is a separate problem. Details of handling that give best results in one case may not be successfully operative at a property on the same contact zone and but a short distance removed. Supplementary treatment of tailings by flotation may be successful in producing a low-grade concentrate of around 15 per cent WO3, which is adapted to further treatment chemically at a given property and entirely unsuccessful at another. This problem constitutes another of the unanswered questions. The following paragraphs relate solely to the beneficiation of scheelite ores by table concentration and supplementary methods.

Jan 1, 1942

By C. A. Heiland, Tripp R. M., Dart Wantland

This paper serves to illustrate the application of geophysics to a virtually abandoned mine properly, an application that led to the discovery of an ore body and thus afforded an Opportunity to cOmpare subsequent geologic findings with geophysical data. The work herein described represents, however: more than mere ''case history." It demonstrates that it is possible to obtain satisfactory results by simple means and relatively inexpericnced personnel. The geophysical surveys were made by students as a part of their field assignments in the course of their regular training, and were supervised by Dart Wantland, J. E. Hawkins and R. Maurice 'Tripp. In the course of several seasons an appreciable amount of material was accumulated, which gave graduate students an opportunity for special studies. In this connection, the contributions by L. Massé, R. C. Hyslop, and J. E. Hawkins deserve special mention. The property owners cooperated wholeheartedly in the work, and special thanks are due messrs. J. F. Johnson and S. E. Zelenkov, of the American Smelting and Refining Co., for their interest and for permission to utilize the results of their development work for this publication. Location and Geology The Malachite mine is situated on the northcrn slope of Bear Creek Canyon, 4 miles northeast of Evergreen, I½ miles northwest of Idledale, and 4% miles west northwest of Morrison, in Jefferson County, Colorado. The location (Fig. I) is north of the center of set. 30, T. 45, R. 70 W., at an elevation of about 7500 ft, above sea level, Near the mine the terrain slopes rather uniformly southward at an angle of about 180 pigs. 3 and 7). The geology of the Malachite mine area has been described by J, underhill,' W, Lindgren,2 and J. Boyd.3,4 A map showing surface outcrops and mine workings appears in Fig, 2. the Malachite mine is in an amphibolite belt enclosed in gneisses and schists of the Idaho-Springs formation (probably early Algonkian age). The highly contorted beds are nearly vertical and strike slightly north of west. A series of granite-pegmatite dikes have been intruded almost at right angles into the gneisses and schists and doubtedless are postmineral. While most of the formations are exposed at the surface, a part of the 'lope is covered by slide rock and float, and in the eastern portion by alluvium and creek fill. A quartz-diorite dike cuts through the amphibolite schists at a small angle with nearly vertical dip. The copper sulphides, developed in this dike by magmatic segregation, occur in lenticular form. As far as the mine workings have revealed, the ore lenses are often discontinuous in depth and

Jan 1, 1946

By Tripp R. M., C. A. Heiland, Dart Wantland

This paper serves to illustrate the application of geophysics to a virtually abandoned mine properly, an application that led to the discovery of an ore body and thus afforded an Opportunity to cOmpare subsequent geologic findings with geophysical data. The work herein described represents, however: more than mere ''case history." It demonstrates that it is possible to obtain satisfactory results by simple means and relatively inexpericnced personnel. The geophysical surveys were made by students as a part of their field assignments in the course of their regular training, and were supervised by Dart Wantland, J. E. Hawkins and R. Maurice 'Tripp. In the course of several seasons an appreciable amount of material was accumulated, which gave graduate students an opportunity for special studies. In this connection, the contributions by L. Massé, R. C. Hyslop, and J. E. Hawkins deserve special mention. The property owners cooperated wholeheartedly in the work, and special thanks are due messrs. J. F. Johnson and S. E. Zelenkov, of the American Smelting and Refining Co., for their interest and for permission to utilize the results of their development work for this publication. Location and Geology The Malachite mine is situated on the northcrn slope of Bear Creek Canyon, 4 miles northeast of Evergreen, I½ miles northwest of Idledale, and 4% miles west northwest of Morrison, in Jefferson County, Colorado. The location (Fig. I) is north of the center of set. 30, T. 45, R. 70 W., at an elevation of about 7500 ft, above sea level, Near the mine the terrain slopes rather uniformly southward at an angle of about 180 pigs. 3 and 7). The geology of the Malachite mine area has been described by J, underhill,' W, Lindgren,2 and J. Boyd.3,4 A map showing surface outcrops and mine workings appears in Fig, 2. the Malachite mine is in an amphibolite belt enclosed in gneisses and schists of the Idaho-Springs formation (probably early Algonkian age). The highly contorted beds are nearly vertical and strike slightly north of west. A series of granite-pegmatite dikes have been intruded almost at right angles into the gneisses and schists and doubtedless are postmineral. While most of the formations are exposed at the surface, a part of the 'lope is covered by slide rock and float, and in the eastern portion by alluvium and creek fill. A quartz-diorite dike cuts through the amphibolite schists at a small angle with nearly vertical dip. The copper sulphides, developed in this dike by magmatic segregation, occur in lenticular form. As far as the mine workings have revealed, the ore lenses are often discontinuous in depth and

Jan 1, 1946

By Charles E. Glass

A steadily growing body of evidence indicates that earthquake ground motions can cause failure of rock slopes that are otherwise stable under static loading conditions. As a result, the economic optimum working slope angle is reduced when earthquake shaking is considered in surface mine design, especially in regions of high seismicity. When designing surface mine slopes to withstand seismic motion it is as important to consider the probability of experiencing various levels of ground shaking as it is to consider the characteristics of the ground motion. For most slope designs, simple probabilistic techniques such as extreme value or maximum likelihood techniques are appropriate. These techniques, however, should be applied in such a way that a probability value is assigned to characteristic ground motion parameters at the mine rather than to nearby earthquake magnitudes. Several techniques have been developed to analyze rock slopes subjected to dynamic loads. Most of these techniques do not adequately account for the ground motion parameters of concern. The best technique appears to be one that utilizes actual earthquake time histories. A simple technique that calculates block displacement for any input accelerogram, using a linear acceleration approximation between time steps, has been developed that accurately accounts for rock block response. Results using this technique indicate that the following factors are important for assessing rock slope stability in earthquake regions:

Jan 1, 1983

By Arthur Nomann

Recording instruments may be conveniently described under the headings of: (1) geophones, (2) amplifiers, (3) recording cameras, (4) miscellaneous parts. Geophones Geophones or seismometers are actuated by slight earth movements, and generate electrical currents, which are amplified and recorded. In all geophone desigm there is provision for differential movement between parts of the mechanism and the signal voltage is generated as a function of this differential movement. The part that conforms to the movement of the ground is called the support, and the part that remains more nearly stationary with respect to more distant unactuated parts of the earth is called the steady mass. The mechanical period of the geophone is the time required for an oscillation of the steady mass after an initial impulse is given it, and is determined by the effective stiffness of the spring joining the two parts together in relation to the weight of the suspended part. Geophones have been used with frequencies varying all the way from less than 10 cycles per sec. to several hundred cycles per second. Those with a natural frequency of less than, say, 100 cycles

Jan 1, 1940

By Arthur Nomann

Recording instruments may be conveniently described under the headings of: (1) geophones, (2) amplifiers, (3) recording cameras, (4) miscellaneous parts. Geophones Geophones or seismometers are actuated by slight earth movements, and generate electrical currents, which are amplified and recorded. In all geophone desigm there is provision for differential movement between parts of the mechanism and the signal voltage is generated as a function of this differential movement. The part that conforms to the movement of the ground is called the support, and the part that remains more nearly stationary with respect to more distant unactuated parts of the earth is called the steady mass. The mechanical period of the geophone is the time required for an oscillation of the steady mass after an initial impulse is given it, and is determined by the effective stiffness of the spring joining the two parts together in relation to the weight of the suspended part. Geophones have been used with frequencies varying all the way from less than 10 cycles per sec. to several hundred cycles per second. Those with a natural frequency of less than, say, 100 cycles

Jan 1, 1940

By Robert M. Dreyer

AGGREGATE With an annual domestic production of over 1.6 billion tons at a value of over $2 billion (see Table 15.1.1), the production of aggregate (crushed rock, sand, and gravel) is a basic industry of utmost economic importance. Because of the role of aggregate materials as essential ingredients of concrete, asphalt surfacing, and plaster, their delivered prices are major factors in determining the cost of construction. The annual domestic production comes from nearly 10,000 plants. About 15% of these plants account for over one-half the production. In a rapidly inflating economy, the average mine sales price of aggregate has remained relatively stable. The actual mine sales prices, however, vary greatly depending on quarrying costs in various parts of the country. Of much more importance in construction costs, however, is the delivered price of aggregate. This varies for each job, depending on the distance from the quarry and resulting transportation costs, as well as the initial cost at the mine. Because of a proliferation of regulations limiting new quarries in the vicinity of the encroaching urban sprawl, the average distance which aggregate must be transported has been increasing rapidly. Although it is impossible to derive an average delivered cost for aggregate, it should be noted that even an increase of only $1 per ton in average delivered cost over the last decade (probably a minimal assumption) would mean an annual cost $1.5 billion higher than ten years ago. In recent years, structural engineering considerations, as well as an increasing use of lightweight concrete blocks, have resulted in a rapidly increasing demand for lightweight concrete and plaster, the essential ingredient of which is lightweight aggregate. Principal lightweight aggregates are: pumice, slag, perlite (thermally expanded hydrous volcanic glass), vermiculite, and expanded shale, formed by the thermal expansion of shale and slate. The United States now has the capacity to expand, annually, over 13 million tons of shale and slate and to expand over 600,000 tons of perlite. In locating a site for aggregate production. the following factors must be considered: (1) tonnage available; (2) quality of aggregate (including local variations); (3) distance from major use areas; (4) transportation costs, including those resulting from present and possible future haulage restrictions; (5) zoning regulations; (6) operating costs, including the cost effects of compliance with local regulations governing blasting, air pollution, water pollution and drainage, noise levels, and operating periods. At one time, locating a suitable site for the production of crushed rock, sand, or gravel, in most areas, was regarded as an extremely simple task. In the past few years, however, finding a site for profitable production of aggregate has assumed ever-increasing com-

Jan 1, 1976

By AIME AIME

MINING geology was granted two sessions, Wednesday morning and afternoon, Feb. 17. The morning session, at which H. Foster Bain presided. first considered Paul M. Tyler's paper, "Economic Notes on Steel-making Alloys." The elements used in these important alloys are chromium, manganese, molybdenum, nickel, phosphorus, silicon, titanium, tungsten and vanadium. Edward Sarnpson and C. K. Leith asked whether chromite concentrates could be used, Mr. Tyler replying that they could if not too high in iron. G. W. Pawel said that they were used at Niagara Falls, nlixecl with coarse ore. In reply to a question asked by A. O. Hayes, Mr. Tyler said that molybdenum had not affected the price of tungsten. After this discussion, E. S. Moore's paper on nickel was considered. H. Foster Bain thought that nickel is well controlled and in good hands, technically and politically. The popular stainless steel in America is the 18:8 Cr-Ni metal. In Germany a Cr-Mn steel has possibilities. It is easy to make, cheaper. has better workability, will stand 85 per cent reduction between heats.

Jan 1, 1932

JOINT convention week has become a feature of the year with western mining men. The first was held at Denver in 1926, the second at Salt Lake City in 1927, and the third is about to take place at Los Angeles. Holding in the same city in one week the meetings of a number of related organizations has been .found to permit the development of a well-rounded program at the same time that it economizes time and money for the members, many of whom belong to several of the participating organizations. For the third time, the American Mining Congress, represented by its Western Division, of which Philip Wiseman is chairman, is taking the lead and assuming the main responsibility. The A.I.M.E. is furnishing the papers for two sessions and the California Development Association for one. The Southern California Section, Robert R. Boyd, chairman, is host for the Institute, but the Northern California, Nevada and Arizona sections have each contributed papers to the program, and will be represented at the meeting. It will be a real reunion of the mining men of the Southwest.

Sep 1, 1928

By E. H. Burdick

The difficulties inherent in table concentration operations as applied to gold, silver, lead and zinc ores, are accentuated in the scheelite mill, which has a flowsheet that is similar in general principles. The narrow "spread" in the specific gravity between scheelite and the usual gangue in which it occurs often makes its clean separation extremely difficult and in some cases impracticable. The problem is further complicated by the extreme friability of the mineral and its inordinate tendency to "slime," particularly where fine grinding is necessary and wet grinding methods are employed. The physical aspect of the occurrence of scheelite in the ores, the kind and character of the rock in which the mineral is present, its hardness, friability and the specific gravity of its constituents, as well as like characteristics of the associated minerals— pyrite, pyrrhotite, sphalerite, and others, all have a bearing on the successful milling of crude ores and the production of a concentrate that is marketable with minimum price penalty or none at all. Most tungsten deposits are considered low grade when the limiting factor of low percentage recovery by gravity methods is borne in mind. The great majority of deposits developed or in process of development carry from 0.4 to 1.0 per cent tungstic oxide. Ore carrying I per cent is considered good grade; 0.7 to 0.8 per cent, fair, and below that figure, low grade. Steady mill feed averaging upward of I .o per cent WO3 is exceptional. Inasmuch as buying specifications demand a 60 per cent W03 content, the mineral content of the ores as mined must be concentrated to at least that degree. A few companies have constructed chemical plants for the treatment of their complex concentrates and low-grade flotation product, but the smaller operator must rely on table concentration, borrowing the tools and to a large extent the methods of his predecessors in the gold, silver, lead and zinc mills. Whether these are the best tools and methods that can be devised is an open question. Except in rare instances, table concentration, however carefully conducted, does not yield a satisfactory final recovery of the mineral content in headings as indicated by chemical determinations of tungstic oxide content. A saving of 60 to 65 per cent is considered fair, and an average 80 per cent recovery, exceptional. Each scheelite ore body is a separate problem. Details of handling that give best results in one case may not be successfully operative at a property on the same contact zone and but a short distance removed. Supplementary treatment of tailings by flotation may be successful in producing a low-grade concentrate of around 15 per cent W03, which is adapted to further treatment chemically at a given property and entirely unsuccessful at another. This problem constitutes another of the unanswered questions. The following paragraphs relate solely to the beneficiation of scheelite ores by table concentration and supplementary methods.

Jan 1, 1943

By E. H. Burdick

The difficulties inherent in table concentration operations as applied to gold, silver, lead and zinc ores, are accentuated in the scheelite mill, which has a flowsheet that is similar in general principles. The narrow "spread" in the specific gravity between scheelite and the usual gangue in which it occurs often makes its clean separation extremely difficult and in some cases impracticable. The problem is further complicated by the extreme friability of the mineral and its inordinate tendency to "slime," particularly where fine grinding is necessary and wet grinding methods are employed. The physical aspect of the occurrence of scheelite in the ores, the kind and character of the rock in which the mineral is present, its hardness, friability and the specific gravity of its constituents, as well as like characteristics of the associated minerals— pyrite, pyrrhotite, sphalerite, and others, all have a bearing on the successful milling of crude ores and the production of a concentrate that is marketable with minimum price penalty or none at all. Most tungsten deposits are considered low grade when the limiting factor of low percentage recovery by gravity methods is borne in mind. The great majority of deposits developed or in process of development carry from 0.4 to 1.0 per cent tungstic oxide. Ore carrying I per cent is considered good grade; 0.7 to 0.8 per cent, fair, and below that figure, low grade. Steady mill feed averaging upward of I .o per cent WO3 is exceptional. Inasmuch as buying specifications demand a 60 per cent W03 content, the mineral content of the ores as mined must be concentrated to at least that degree. A few companies have constructed chemical plants for the treatment of their complex concentrates and low-grade flotation product, but the smaller operator must rely on table concentration, borrowing the tools and to a large extent the methods of his predecessors in the gold, silver, lead and zinc mills. Whether these are the best tools and methods that can be devised is an open question. Except in rare instances, table concentration, however carefully conducted, does not yield a satisfactory final recovery of the mineral content in headings as indicated by chemical determinations of tungstic oxide content. A saving of 60 to 65 per cent is considered fair, and an average 80 per cent recovery, exceptional. Each scheelite ore body is a separate problem. Details of handling that give best results in one case may not be successfully operative at a property on the same contact zone and but a short distance removed. Supplementary treatment of tailings by flotation may be successful in producing a low-grade concentrate of around 15 per cent W03, which is adapted to further treatment chemically at a given property and entirely unsuccessful at another. This problem constitutes another of the unanswered questions. The following paragraphs relate solely to the beneficiation of scheelite ores by table concentration and supplementary methods.

Jan 1, 1943

By Hugh H. Waesche

OF all the military services, the Signal Corps is the most concerned with piezoelectric minerals because of its function as a supply service to the strategic and tactical military forces. Consequently this paper is written from the point of view of one associated with that organization. The Signal Corps is responsible for the research, development, and supply of communications, radar, and components to the using services of the Department of the Army and to some extent the other branches of the National Defense Department. Their work therefore includes the study of the sources, characteristics, and application of quartz and other piezoelectric materials. These materials have become a vital consideration in strategic planning and are essential for efficient tactical operation by all the Armed Forces. The Signal Corps at the beginning of World War II was responsible for both Army Ground and Air Force electronic equipment. Since that time this Army service organization has probably done more in the development of frequency control devices using piezoelectric materials than any other group.

Jan 1, 1949

By Samuel H. Dolbear

THE value of a mine is basically dependent on its capacity to yield profits. Since the ore must be mined, treated, and sold, some of it in various future years. there is a risk involved as to future costs, selling price, and working conditions. It cannot be expected that the economic condition existing at the time of valuation will continue unchanged for long periods in the future. During the past 20 years, mineral production in the United States has been conducted under a changing economy in many respects more exacting than that applied to other businesses. There have been increased production incentives, technical aid, exploration of privately owned mineral deposits by government at federal expense, and liberal loans for development and equipment, with risk partially assumed by government.. Some of these benefits have been counterbalanced by price ceilings, consumption controls, and stimulation of competition from foreign producers who have been offered the same advantages extended to American operators. For the present, mines will operate under a government policy directed toward reducing federal aid and control. The tenure of this change will depend upon future elections and the status of foreign relations. War and threat of war are now of the most vital significance to the mineral industries. Other factors which influence cost of production, markets, and price of mine output might be classified as Acts of God or Acts of Government. In some countries expropriation and the difficulty of exporting earnings or investment returns are risks that must be considered by foreign capital. Recognizing that this retards American investment in foreign countries, the Mutual Security Agency offers insurance against such expropriation and guarantees the convertibility of capital and profits. Since it is impossible to predict with certainty either cost of production or selling prices of metals for long periods, some assumptions must be made as to profits in the future. The basic assumption must be that the price of the company's product will vary in proportion to changes in operating cost. There is often a lag in this reaction, however, for prices of minerals are generally more sensitive to declines and less sensitive to increases than are costs. This reflects in part the resistance of labor to downward wage revision and a corresponding alertness in realizing its share of price advances. Some labor contracts include automatic adjustments to metal prices. Notwithstanding the complexity of the, problems involved and the difficulty of weighing their effect on value, such risks may be appraised with reasonable accuracy and a rate of earnings adopted that is compatible with the risk. It is, of course, possible to revert to a yardstick of value such as the commodity dollar, which has been advocated from time to time, but while revaluation in 1933 disturbed public confidence, the theoretical gold dollar continues to be the standard of greatest stability. Its gain or loss in purchasing power is reflected ultimately in cost of production and selling price of the mine product. At present 35 dollars are allocated to one ounce of gold. Measurement of Risk In the application of the Hoskold and most other formulae, a yearly dividend rate commensurate with the risk involved is set aside out of annual earnings. If the risk is great, this rate may be 15 to 25 pct of the amount invested. The remainder is placed in a sinking fund invested in safe securities such as high grade bonds or conservative equities, and the interest or dividends from these securities are added to the sinking fund. The sum of these sinking fund payments and the compounded interest at the end of the mine life is taken as the value of the mine. Admittedly the decision as to the size of the risk rate is the most difficult element in valuation and one requiring the most exacting consideration. It is necessary to look years ahead in an effort to determine future costs, market prices, demand, competition which may develop, including that of substitutes, and other influences common to the mine and to the region in which it is situated. Another phase of risk is the enactment of unfavorable legislation, taxes, and what appears to be an alarming spread of nationalization and expropriation. Capital is sometimes borrowed from the government to finance strategic production. Such loans may be collectable only out of production and involve no liability otherwise. Valuation in these cases must recognize the effect of such a reduction in liability. Offsetting some of these risks are the possibilities of mechanization and other cost-reducing discoveries, improvements in mining and treatment methods, new uses for minerals and metals, and normal growth of markets. In this paper, the terms risk rate, dividend rate, and speculative rate are synonymous. Safe rate and redemption rate are also used interchangeably. These alternatives are used here because they are commonly found in the literature on mine valuation. In Michigan, the State Tax Commission has long employed a risk rate of 6 pct in its valuation of iron mines. There the outline of reserves is well established and operating costs and conditions are based on adequate experience. The following comment on rates appears in the report of the Minnesota Interior commission on Iron Ore Taxation submitted to the Minnesota Legislature of 1941.1 Most engineers agree that 7 percent for the specu-lative rate is "an absolute minimum". C. K. Leith in

Jan 1, 1954

"The Butte, Anaconda & Pacific railway extends from Butte to Anaconda. The electrification comprises 30 miles of main line single track, and includes sidings, yard and smelter tracks. When complete the electrified trackage will total about 90 miles on a single track basis.The traffic conditions are unusually severe as they consist principally of hauling copper ore from the Butte mines to the smelters at Anaconda, as well as hauling all the mine supplies, lumber, etc., in both directions; this traffic amounts to approximately 5,000,000 tons of freight per year. The maximum grade against the load is .3 per cent and the maximum train consists of 50 loaded steel ore cars, weighing 3,400 tons. .The locomotive units, two of which will be used for freight trains, weigh approximately 80 tons each. In addition to the freight business, there will be a certain amount of passenger traffic.The power for operating the Butte, Anaconda & Pacific railway is generated by, the Great Falls Power company, and is transmitted to the sub-stations at 100,000 volts. The synchronous motors are supplied with power at a potential of 2,300 volts, 60 cycles, 3-phase. Voltage regulators are installed in each sub¬station to secure the benefit of synchronous condenser effect of the motors.The passenger and freight locomotives are exactly similar, with the exception of the gearing.The roller pantograph mounted on the top of the cab is operated by air from the engineers position.The adoption of the 2,400-volt apparatus for so important a system, where the conditions of operation are so severe, is interesting of itself, as indicating the trend that future electrifications of importance may follow. A trolley potential of 2,400 volts was only adopted after a thorough investigation of other systems already in operation."

Jan 1, 1913

By AIME AIME

STRIP coal mining in the United States has-become noted for its massive equipment, especially its power shovels. Notable among the latest examples of this trend is the Bobolink mine of the Binkley Mining Co., at Seeleyville, Ind.,. eight miles from Terre Haute. This is only one of the Binkley company's operating properties; in all, the company owns or controls 26 mines, in fourteen seams. The Bobolink, however, is the largest strip mine in America and probably also in the world. It has an estimated life of fifteen years. The shovel used to strip the over¬burden is electrically operated, of Bucyrus-Erie make, and was. shipped to the property for assembling, a job

Jan 1, 1936

By R. Maddi, I. R. Kramer

The delay time for the initiation of slip was studied in single crystals of a brass, aluminum, and ß brass. A delay time for slip was found in ß brass when the specimens were tested below room temperature; however, one was not found for a brass or aluminum. A general theory for the existence of the brittle transition temperature is proposed. A LTHOUGH a considerable amount of effort has A been devoted to the study of the deformation and fracture of single crystals, the vast majority of the work was concerned with static tests or with tests carried out at relatively slow strain rates. The necessity for the study of a possible incubation time for slip becomes apparent when the various theories which have been postulated for the elucidation of the mechanism of slip are considered. The existence of an incubation period would strongly indicate that slip occurs by a process of nucleation and growth; whereas the absence of an incubation would present rather convincing evidence that slip occurs by a cataclysmic process. In addition to shedding light on the process of plastic deformation, an understanding of the early stages of plastic deformation may be helpful in finding an explanation for the brittle behavior of the body-centered metals under certain conditions. It is well known that these metals, such as iron, molybdenum, tungsten, ß brass, etc., will become brittle as the test temperature is lowered or the strain rate is increased. In spite of the fact that this subject has received considerable attention since the turn of the century, no adequate theory exists today which explains the phenomenon. In the ductile temperature range the metal breaks with a "fibrous" fracture after considerable slip has taken place. In the brittle temperature range the metal fails essentially by cleavage on the {loo) planes: however, some plastic flow is always present even in the most brittle fractures. It is possible, as will be explained later, to ascribe this brittle behavior to the length of the incubation time for slip. Clark and Wood,' using polycrystalline metals, showed that a delay time existed for the yield point in mild steels and that the delay time depended upon the applied stress. These authors stated that the delay time was observed only with those materials for which the stress-strain curve showed a definite yield point. In their work only the mild steel specimens exhibited a delay time at the yield point, while the other materials studied-type 302 stainless steel, SAE 4130 normalized steel, SAE 4130 quenched and tempered steel, 24s-T aluminum—did not show a delay time. These authors' in an extension of their work, found that as the temperature was lowered the delay time was increased. It is, then, the purpose of this investigation to measure or to set an upper limit on the delay time for plastic flow in single crystals of a brass, aluminum, and ß brass. The delay time will also be studied as a function of temperature. The incubation time may be measured by determining the length of time the specimen will support a stress without slip occurring when the stress is greater than the static critical resolved shear stress. In order to accomplish these measurements use was made of a pendulum which was so designed that a single crystal specimen could be placed at various positions along its length. When a pendulum is struck by another pendulum of the same length, an elastic wave is transmitted down the bar with the velocity of sound in the material and is reflected from the far end of the bar. The reflected wave then travels back and unloads the stress until it reaches the impacted end of the bar and the two pendulums separate. The length of time that the specimen is subjected to the stress is equal to the time it takes for the stress wave to travel twice the distance from the specimen to the end of the bar. The stress applied to the specimen is governed by the velocity of impact of the two pendulums. The stress at which the specimen first suffers plastic: deformation was determined in these experiments by examining the specimen under the microscope for the first appearance of slip lines and by measuring the residual strain after each impact. In these experiments the critical resolved shear stress was approached from the low stress side and no attempt was made to determine it exactly. To determine it exactly, it would have been necessary to find that stress at which slip would have just started. However, since the stresses were increased in rather small increments the critical stress is believed to be approached rather closely, as will be seen from the experimental results. The critical stress will be taken as the highest stress obtained before the onset of plastic deformation. The stresses

Jan 1, 1953

By Oswald J. Heinrich

(with figures on plate V.) THE origin of spontaneous combustion in collieries is, of course, chiefly due to bad system in laying out the pits, unclean workings, insufficient ventilation, and neglect in damming off works after they are exhausted of the main coal. This is particularly indispensable in the Richmond field, because it is difficult and dangerous here, on account of the inferior roof, to remove the last vestiges of coal ; and we are compelled also to retain all the slates and bands, as far as possible, in the pit, to help fill up, although such material is liable to fire. This, however, can be prevented to a great extent, as men¬tioned below. I am satisfied that the only system of working this thick coal is by cross-cutting ( Querbau, ouvrage à travers) or working in benches, as practiced in France (Creusot, Rive de Gier, St. Etienne), in Sile¬sia (Königsgrube), which I have used as far as it is practicable in an old pit, almost torn to pieces by former workings. Modifications may, of course, be needed, even in the same pit, on account of irregu¬larities in the seam. I am also satisfied for economical reasons (on account of the heavy cost for timbering) that pits here ought to be worked upwards, even if it requires a longer period of time to win the coal, and a greater outlay of capital to commence with. The various saddle-shaped "troubles" making natural minor basins in the main basin aid in the execution of this plan. A pit worked once ought to be worked out clean, given up, and dammed off forever. If sections of proper height are assumed, according to the required amount of production for a certain period of time, they ought to be worked out and filled in as much as possible, dammed off, and ulti¬mately allowed to fill up with water, in order to protect the tipper works in future from fire in the gob below. This I consider indispen¬sable, because we may not be able profitably to fill in all the ground. To do so we have to use the waste of the mine, although it is liable to fire in time. In using this stuff, it ought to be surrounded by walls of rock not liable to take fire, laid firmly in clay, the gob being in the middle, and firmly covered and packed with clay on top. In

Jan 1, 1873