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By Fred D. Gustafson

With the postwar emergency for new housing and for new industrial buildings, much research has been done on lightweight aggregates for use in concrete and plaster. The trend toward lighter weight aggregates to relieve the dead load on the higher, steel frame- work buildings started toward the end of the last century. Progressively the requirements be- came more stringent, crushed bank slag, weighing 80 lb per cu ft as com- pared to 100 lb for crushed rock, was supplemented in some sections by foamed slags and expanded shales weighing from 40 to 60 lb per cu ft. In other sections cinders were used weighing from 40 to 50 lb, including sand. Sections favored with more recent vulcanism turned to pumice weighing from 30 to 60 lb, whereas other localities made use of diatomite, from 28 to 40 lb. Exfoliated vermiculite weighing from only 6 to 10 lb per cu ft came into use. As the search for lighter weights in aggregates continued so did the search for other desirable properties such as nailability, ease of cutting or channeling, and good insulation to both sound and heat. This search eventually led to a widespread interest in the expansion of perlite, or similar volcanic glasses, with the result that in 1946, the Office of the Housing Expediter' listed eleven firms reporting the operation of processing plants either on pilot or commercial scale producing aggregates weighing from 2 to 16 lb per cu ft.

Jan 1, 1949

By John Hays Hammond

Discussion of the paper of John Hays Hammond, presented at the Chattanooga meeting, October, 1908, and published in Bi.-Monthly Bulletin., No. 24, November, 1908, pp. 1171 to 117S. PROF. HENRY Louis, Newcastle-upon-Tyne, En j. (communication to the Secretary'`) :-I welcome Mr. Hammond's paper as an. attempt to give definiteness to the best modern professional practice. Such a codification of our professional ethics is urgently needed, seeing how widely the views of mining engineers differ on some of the point-,. raised, for example, I have no hesitation it) performing a class of work, as to which Mr. Hammond seems to entertain some doubts, and, on the other hand, I strongly condemn a practice which he appears to recommend. I have not the least hesitation in making reports for vendors of mining properties, and am constantly doing so; . the best justification for this practice may be found in the fact that such reports have been repeatedly accepted by buyers as giving a correct representation of the facts of the case, which is all that should be demanded from any report. On the other hand, Mr. Hammond advocates that mitring engineers should take payment for their reports tin shares of a company to be floated upon the basis of such reports. I hold that this is ethically wrong, as even the most honest of men is liable to be unconsciously biased under these conditions. Indeed, I go much further, and maintain that a mining engineer who re¬ports or advises upon mining properties should never hold any-mining shares at all, or be himself interested in any mine,' and this has been my consistent practice for many years. A man who holds shares in a mine, and is called upon to report upon a neighboring property or a similar mine, can never be wholly unbiased, and even if lie could be, he would always lay himself open to the suspicion that he was giving a favorable report so as to-enhance the value of the property in which he himself is interested, or an unfavorable report so as to stifle competi-

Jun 1, 1909

By Carl L. Renzoni

INTRODUCTION This paper defines equity as the issuance of a permanent interest in the business on a broadly distributed basis. As such, it excludes the issuance of equity to either a merchant bank or to another corporation. Nearly twenty years ago the equity markets were very simple: The instruments used were primarily common shares, convertible debentures or convertible preferred shares. Another equity-type option often used, especially by junior companies, was the sale of joint venture interests. Issue sizes were generally in the order of $25 - $100 million and issues were syndicated primarily in North America and Europe by one or two investment dealers. Mining corporations today benefit from a market with much more depth. Issues are syndicated by dealers on a truly international basis, and issue sizes now often range up to $300 million. Moreover, dealers are now willing to take significant risk in buying the issues for redistribution. This discussion of trends in equity markets will encompass: 1) common shares 2) warrants to buy common shares 3) convertible debentures 4) commodity backed instruments A review follows of events that affect the mining industry and investment dealers as they have a bearing on the equity markets for the metal producers. FACTORS AFFECTING THE MINING INDUSTRY The current business cycle, up to October 1987, had been characterised by a buoyant stock market and depressed base metal prices. Mining companies entered this period with weak balance sheets and little prospect of cash flows meeting capital needs. The issuance of equity and the sale of assets were used extensively to reduce debt to manageable levels. During this period, the relative high price for gold, and more important, the very high earnings and cash flow multiples afforded to gold producers, caused companies to target gold as the only game in town. The need for capital to acquire and develop gold properties prompted an unprecedented volume of equity issues. (Burns Fry led or co-managed over $1 billion of mining equity issues per year during this period). This high demand for equity capital by the industry prompted an increase in the use of equity instruments, such as commodity backed instruments. In addition, government tax incentive programs in Canada, such as flow-through shares, allowed smaller companies to raise significantly more equity than would otherwise have been possible. Over $1 billion in flow-through equity was raised in 1987 alone. The abundance of flow-through capital in Canada made it easy to form a new company. One flow-through share fund developed a system of providing the working capital required for a company to be eligible to receive flow-through share capital so that an entrepreneur required only a mining property to get started. Many new companies were formed and several flourished in a buoyant stock market environment to the point that market capitalizations grew to $100 million or more. The current period is in stark contrast to that before October 1987. The equity markets are generally available to the resource industry only on a window basis and only for senior companies and for special situations. The industry is benefitting from buoyant metal prices, and bankers are anxious to provide debt capital. Investment dealers previously processing several equity issues

Jan 1, 1990

By Granville S. Borden

TAXES in general are onerous and are not a pleas- ant subject for discourse. There are, however, some very cogent reasons why we should dedicate a part of our thoughts and services to the solution of our taxation problems: The happiness of every individual in the United States depends on the maintenance of a stable government. The collection of taxes is an indispensable function of a stable government, and the power to collect taxes depends in part on the question whether taxes are fair and equitable. As representatives of the mining industry it is our duty to .protect it from tax burdens that are discriminatory or- unjust, As citizens we find that taxation is incessantly endeavouring to unravel the knots in our purse-strings. Many members of the Institute may be consulted .by clients on taxation problems, especially the phases which re- late to depletion and valuation. It is the hope of the writer that the discussion of some of the current depletion and valuation problems will stimulate interest in the problems, and as a consequence of this new interest facts will be ventilated, opinions rendered and services performed, which will be a means of solving the problems to the satisfaction of all parties interested.

Jan 1, 1929

By Morris J. Elsing

FOR MANY YEARS lead and zinc have had the so-called protection of a tariff and it is the purpose of the following brief discussion to show what' such protection actually accomplishes with a view to forecasting the possible results of the present copper tariff. In analyzing the subject, tabulations of the United States production, consumption, imports and exports, including ore and concentrates and all of the metallic products, of both lead and zinc have been made for each year since 1900. Of these data, the relationship of the imports and exports and the relative foreign and domestic prices are shown in Table 1. The conclusions drawn from these figures are listed below. 1. The United States is an exporter of zinc. 2. The United States is an importer of lead. 3. The average price of zinc at St. Louis for the last 32 years has been no higher than on the London market even though zinc and zinc ore have "enjoyed" a protective (?) tariff of varying amounts per pound for 22 years of this period. 4. The average price of lead on the New York market for 32 years has been 1.2c. per pound higher than on the London market, the tariff varying from 0.75 to 1.5c. per pound of lead in ore, and 1 to 2c. or more on manufactured lead.

Jan 1, 1932

* The greatest and richest iron ore body in the world was discovered by U. S. Steel in Venezuela in April 1947, and is disclosed for the first time in this issue (p. 178), One solid mountain of ore, Cerro Bolivar, will furnish more tonnage than the famous Hull Rust pit at Superior has, or can produce. Total resources are on the order of 2 billion tons plus. Big Steel is now moving with great speed on construction to bring out this ore, and 10 million tons are scheduled for shipment into Baltimore and Birmingham by late 1952. This ore will arrive at, Pittsburgh at a price lower than present natural ores from Superior. The Venezuelan properties will be completely mechanized. •U. S. Steel and independent companies are embarking on a taconite beneficiation program of tremendous proportions, which must be speeded to completion in the 1950's (see p. 185). By 1960 over $l.2 billion dollars will be spent on Venezuela, taconite, and Labrador to solve the United States iron ore crisis. In addition, U. S. Steel will spend another $300 million plus for a new steel mill at Trenton, N. J., before 1955. •The Deister Concentrator Co. gave $500 to the 1950 Coal Division Scholarship Fund. •Howard N. Eavenson, in analyzing the bituminous coal situation (see p. 193), suggests that anti-trust laws be extended to labor unions, disinterested trustees to administer pension funds, begin pension funds now and stop the collection of all "check-offs" for union dues or funds. •Minerals and metals worth 13.9 million dollars were produced in the United States in 1949, Secretary of the Interior Oscar L. Chapman announced. Although this value was 11 pct less than in 1948, it was the second greatest in history. Nonmetallics was the only major group that in 1949 equaled the 1948 production high. Mineral fuels decreased 12 pct and metals 15 pct. • Prospects for making gas from coal are seen to be unattractive by the Pittsburgh Consolidated Coal Co. because the success of operation depends on price and supply of coal which presently are not attractive. The company has shut down its gasification plant at Library, Pa. * Economic prospects for the immediate future in the United States are good and business probably will continue at its present high levels throughout at least the early part of 1950, Secretary of Commerce Charles Sawyer said in his year-end report to the White House based on his personal survey of business conditions. •A 467-ft well 34 miles north of Rock Springs, Southwestern Wyoming, is said to be flowing a 5 pct solution of nearly pure trona (sodium carbonate) at the rate of 10,000 barrels a day. Trona, natural soda ash, is mined for the chemical trade at Searles Lake, Calif., and from about 1500 ft underground near Green River, Wyo., and has been in short supply. •The AEC is "very much interested" in a discovery of radioactive material that has been made in Baraga County bordering Lake Superior in the Upper Peninsula of Michigan, reported F. G. Pardee, Michigan State mining engineer. The material has been identified as uranium oxide in the form of pitchblende or uraninite. The discovery, made by a geologist of the Jones & Laughlin Ore Co., is the only instance in which the commission has certified samples of Michigan rock.

Jan 2, 1950

By William Hilliard

IN any manufacturing business, it is of vital importance that the management should know the exact cost of the units of production. Without such knowledge, a company can sell blindly in the open market, obtaining the best prices it can in competition with other firms, and manage perhaps to continue in business for a time; but at any moment, and especially in a period of falling prices, such a firm is at a loss to know exactly at what point it can sell at a profit and exactly how much it is losing per unit if it sells below that point. Furthermore, it is necessary not simply to know the exact total cost per unit, but to know definitely all the different-factors which enter into that cost. A firm manufacturing pocket knives had been doing a profitable business for many years when it began to earn smaller and smaller profits, until there was scarcely any profit at all being realized. Being unable to determine exactly what its future policy should be, it called in experts who studied the past records carefully and followed out for a period a better cost, system. Investigation then showed that on several different kinds of knives in common use, a small profit per unit was being made. On a number of special kinds of knives, of which the firm was very proud, it had been forced to cut prices under the pressure of outside competition and had believed that a small profit per unit was still being made on that product, while a detailed cost analysis showed that a loss was being incurred on each knife of that kind produced. It then became clear that the company must either give up the special line and concentrate wholly on the cheaper knives and extend their sales to territory not yet developed; or expand its plant and produce more of the higher grade knives and thus lower the cost per unit enough to make money on the higher grade knives also, if conditions warranted such expansion. Investigation revealed that the market for large quantities of the high-grade -knives was decidedly uncertain and that the most promising move would be to manufacture only the less expensive knives on a larger scale. That plan was carried out and the concern began again to make a better profit.

Jan 1, 1932

By W. D. B. Motter

DURING the early development of blasting with liquid oxygen explosives the trend of experimentation was towards increasing the effectiveness of the explosive. Its characteristic of becoming inert after evaporation of the oxygen content made a strong appeal from the standpoint of safety, especially with missed holes. It later became apparent, however, with practical use of this explosive, that LOX lacked certain other safety characteristics. As its effectiveness was increased, it became more subject to detonation by impact. The object of this paper is to show the steps taken by one operating company to achieve greater safety in the large-scale handling of liquid oxygen explosives.

Jan 1, 1933

By Frank H. Macpherson

FEW people realize the tremendously important part that Saline and Pulaski Counties in central Arkansas have played in the winning of the war. The present favorable war situation might have been very different if we had not had the bauxite produced during the past two years from these two small areas, a total of about 15 square miles. As a general statement, it can be said that the Arkansas bauxite deposits are, individually, relatively small, irregular in thickness, somewhat scattered and, therefore, compared with coal or iron-ore or open-pit copper deposits, relatively ill adapted to a rapid and drastic expansion in output. A few years ago it would have seemed an impossibility for these two counties to produce over six million long dry tons of bauxite in one year. However, with the cooperation of the operators, that is what happened in 1943, when the state of Arkansas achieved the seemingly impossible with a production of 6,020,684 1 long tons (dried equivalent) of bauxite ore during the calendar year, compared with an average annual production of 323,725 2 tons in the period 1931 to 1941. It became apparent early in the year 1941 that the United States soon might be drawn into the war, and, therefore, that an immediate study of the domestic metal situation was necessary. Aluminum is by far the most important metal used in the manufacture of aircraft and many other implements of war and it was evident that there would have to be a tremendous increase in the domestic production of bauxite, which is practically the only present source of this metal. As more than 95 per cent of the known bauxite reserves of the United States was in Arkansas, careful preliminary studies were made in that state by representatives of the United States Bureau of Mines, the United States Geological Survey and the War Production Board in the summer of 1941. Reserves in other states also Were studied. The result of these studies was a recommendation by the War Production Board that mining in the bauxite-producing areas of Arkansas be geared for maximum production, in order to supply sufficient ore for this country's war requirements and, if necessary, to supply the war needs of Canada as well. The annual goal of eight million long tons (dry Weight) set for Arkansas by the War Production Board Was exceeded in 1943, when in August the output reached a rate equivalent to more than 8,300,000 long tons, dry basis. Because of the comparatively small tonnage of bauxite reserves, Congress appropriated funds for an extensive drilling program to be carried out by the Bureau of Mines in cooperation with the Geological Survey. Drilling began in May 1942 but owing to delay in delivery of drills, and trucks upon which the drills were mounted, the program did not get into peak operation until early in 1943. By the end of July 1944, the Bureau of Mines records indicated an addition to the Arkansas reserves of 10,000,000 long tons (wet basis) in place

Jan 1, 1945

By Thomas Fraser, David R. Mitchell

THE primary purpose of the loading plant is to transfer the finished product from the preparation machines to the railroad car, truck, or barge in which it is to go to market. Secondary purposes of the loading plant are: to prevent excessive degradation of sizes during loading, to reduce segregation as much as possible, and to prevent excessive quantities of very good or off-grade coal from entering any one car. Nonuniformity of consignments is one of the chief sources of com- plaints by consumers and coal merchants. A properly designed loading plant will do much to reduce complaints and ensure uniformity, not only from shipment to shipment but also in each individual consignment along the length of the car and in cross section. DEGRADATION IN STORAGE, LOADING AND SHIPMENT The object in loading is not only to handle the coal without breakage and segregation, but also to produce a well-trimmed load that will ride to its destination without spillage or breakage en route. The small sizes present in a car of prepared coal as received by the purchaser consist-of: missed small sizes not screened out in the preparation plant, breakage during loading, and breakage caused by handling en route. For domestic sizes of anthracite shipped from the Pennsylvania anthracite field to Atlantic coast cities, the dealers' lass because of breakage in loading and shipment amounts to from 2 to 5 per cent and for anthracite shipped to Middle West cities, the loss is 8 to 9 per cent. This difference is in part because dealers in the Middle West rescreen their coal more thoroughly than is usual in the East. One dealer handling Illinois No. 6 coal shipped from southern Illinois mines to Chicago reports an average size loss of 10 per cent when lump coal is unloaded with a fork. This runs as low as 5 per cent for carefully loaded coal and as high as 15 per cent for carelessly loaded coal.

Jan 1, 1943

By H. W. C. Prommel

While Utah remains an unimportant factor in oil production, exploratory drilling was carried on in six widely separated areas, extending from the southwest to the northeast corner of the state. One new gas field, the Last Chance or Starvation Creek anticline in Emery County, and two new gas horizons in the Clay Basin field of Daggett County, were thereby discovered during 1934. Exploratory Drilling South Central Utah Emery County—Last Chance Anticline.—The test of the Ramsey Petroleum Corporation in sec. 18, T.26S., R.7E., on the apex of this anticline (vert. closure 700 ft.; area within closing contour line, as mapped by U.S. Geological Survey, 26,000 acres) encountered gas in the Moenkopi formation of lower Triassic age at depths ranging from 2530 to 2863 ft. The total thickness of sandstone, sandy shale and -limestone beds in which gas was encountered is approximately 50 ft. The well was tested at a depth of 2755 ft., gaging 21,000,000 cu. ft. of gas, R.P. 410 lb. The well is being plugged back to the lowest gas horizon at 2771 ft. from a total depth of 3168 ft. Gas from this well probably will be used for the drilling of a second well structurally lower, to test the oil possibilities of the Moenkopi formation as well as of the upper and lower Pennsylvania formations, of which the latter so far remains untested in South Central Utah. The well was not drilled deep enough to determine more definitely the western margin of the petroliferous Paradox Basin of lower Pennsyl-vanian age of southeastern Utah. Woodside Anticline.—This field, lying immediately northeast of the San Rafael swell, contains, according to maps of the U.S. Geological Survey, 8380 acres within its lowest closing contour line 700 ft. below the apex. A well was drilled by Utah Oil Refining Co. at the apex in sec. 12, T.l9S., R.l3E., during 1924. Gas was encountered in the Moenkopi and Kaibab formations of Triassic and Carboniferous (Permian) age respectively. The flow is estimated at 21,000,000 cu. ft., R.P. 900 lb.,

Jan 1, 1935

By W. J. Taylor, H. J. Mutz, A. F. Brock

THE International Kickel Co. of Canada Ltd. operates five underground mines and an open pit. Four of the mines, the Frood-Stobie, Creighton, Murray, and Garson, are on the south range of the Sudbury Basin, map above, within a radius of 10 miles of the city of Sudbury, Ontario. The fifth mine, the Levack, is on the north range of the Sudbury Basin, 30 miles to the northwest of the city. The open pit is operating on surface ores of the Frood-Stobie orebody. Two pits were opened at the Frood-Stobie mine; the Frood section was started in 1938 and the Stobie section in 1942. To meet the heavy demand for nickel during World War 11, open-pit production was accelerated until it constituted over 40 pct of Inco's total tonnage. As a consequence open-pit ore was depleted considerably alhead of schedule; the Stobie pit was completed in the summer of 1951, and it is expected that mining at the Frood pit will be completed in 1953. The major program launched 10 years ago to develop additional underground production as a replacement of open-pit tonnage thus had to be greatly speeded up. This conversion to all-underground mining will be completed within the next two years, and the underground mines will then have an annual hoisting capacity of 13,000,000 tons. One of the new mines in the underground expansion program, the Murray, was brought into production in 1950. Ore production from the new Stobie section of the Frood-Stobie mine was commenced on a limited scale in 1951 and will be increased as the program progresses. Delivery of ore to the new Creighton mill was started in the summer of 1951 from the caving project launched at Creighton mine. When mining was started in the Sudbury district 65 years ago the ore deposits were opened on a small scale and mining methods conformed to a general pattern of small open cast pits, followed by open stopes as mining was extended below the pits. The open stoping methods used were heading-and-bench and shrinkage. In certain cases a type of cut-and-fill mining was used with drywall tramways and dry-wall chutes in the fill. As the mines were deepened,

Jan 1, 1954

By R. W. Newcomb

THE constancy of calibration, and to a great extent the life, of a thermoelement is dependent on the suitability of the primary protecting tube in which the wires are mounted, particularly when used at high temperatures. An ideal thermocouple protecting tube would be com-posed of materials that would not contaminate the thermoelement wires contained in it-one that would remain absolutely gas-tight ,it all temperatures of usage, that will not be attacked by gases, or other surrounding agencies, that is not destroyed by heat, that withstands sudden and extreme temperature changes, that affords a high degree of mechanical protection and does not deform at high temperatures, that is a good heat conductor and obtainable in small diameters so as to keep down lag factors. It has not yet been possible to produce tubes of any known mate-rials that will meet all of these conditions. In selecting protecting tubes, therefore, one should be chosen the characteristics of which best fit it to the particular conditions of usage. Frequently conditions are such that two tubes have to be used, a primary gas-tight protecting tube inside of a secondary protecting tube, because certain agencies will attack the primary gas-tight tube unless it is guarded by the outside tube.

Jan 9, 1919

Jan 1, 1970

By Truman Aldrich

THE Clinton group of the Silurian holds the red or fossiliferous ore; its outcrops have been mapped by the State or U. S. Geological Survey. This group is from 100 to 500 ft. thick in Alabama. There are places where it is entirely missing (doubtless islands in the Silurian Sea). In Etowah County, in part of Greasy Cove and vicinity, the upper seam is a coral reef impregnated with the red ore; in this same county, step, faults bring up the ore in three or four separate ridges practically parallel. In Blount County and on Raccoon Mountain, the ore runs under the carboniferous rocks and outcrops in the valleys. In examining some bore holes made in drilling for oil, the writer found the Clinton group continuing under the Warrior coal field wherever the drill has gone deep enough. It demonstrates the possibility of a source for red ore not seriously thought of until lately. The following bore holes made principally for oil, given in Bulletin No. 22, Geological Survey of Alabama, show the presence of either ore or red rock, and suggest vast resources yet to be outlined and developed for ore in the future. The locations are given by number on the map. Hole No. 1 was drilled 6 miles southeast of Russellville, Franklin County, by the Woodward Oil & Gas Co. It passed through 160 ft. of Clinton, but only a small show of red ore was found at 1280-1400 feet. A test well, No. 2, drilled near Atwood, Franklin County, in section 26, township 8, range 14, penetrated the Clinton at 1608 ft. and found 38 ft. of limy red rock, also 8 ft. of some blood red ending at 1820 ft., making 46 ft. of red rock in all. It is reported that some good ore was cut through but this work was done by a churn drill. The hole was continued by diamond drill from here. At least 400 ft. of the formation was classified as Clinton.

Jan 10, 1924

By John L. Schroder

The demands for increased productivity on the 1967 coal industry have generated new operating trends and fresh approaches to old methods, which have enabled the industry to keep pace with the expanding economy. Changes, while not radical in concept or design, have been plentiful and are marked by the refinement of the already tried, tested and proven. Perhaps not since World War II have there been demands on equipment manufacturers to design and deliver such diversified types of machines as those required by the industry in the past year. Equipment developments-following a plan which calls for higher productivity, lower maintenance costs and greater machine availability- have tended more toward increased horsepower and heavier, more rugged equipment. Electrical and mechanical components, designed in many instances with maximum reliability rather than initial costs as the main criterion, have contributed to the improvements in over-all performance. High-strength, specialty steels are finding use in a wide range of equipment applications. The horsepower capacity of electric motors being installed is more frequently being rated on a continuous basis rather than the former one hr or less and, as a result, fewer failures now occur because of overloading. These developments reflect the pyramiding cost of equipment down-time and represent definitive progress in reducing the magnitude of the problem.

Jan 2, 1968

By W. H. Meyer

During the seventeen years Fairchild has been making aerial surveys and aerial photographic equipment many changes and improvements have been made in the equipment and in the technique of using it. Aerial photographic operations have been developed from the crude methods and apparatus of wartime to a science upon which exact engineering calculations can be based. In the early days there was no airplane specially designed to meet aerial photographic requirements. One type of camera was used in all types of operations. Projects were made to conform to the products we could make and deliver. Obviously this entailed definite limitations. We now have airplanes designed specially for aerial photographic operations in accordance with the conditions encountered in actual service experience. We have cameras for every photographic purpose and our laboratory technique and equipment have been developed to the point where it is possible to make contour maps from vertical aerial photographs with contour intervals as close as five feet. Therefore, the selection of equipment now can be made in accordance with the time at our disposal, the justifiable cost, the scale desired, and the general requirements of the client. This does not mean, however, that arbitrary deliveries can be set for aerial photographic products. The factors in each project vary and each job must be considered in accordance with the factors involved. This accounts for the fact that products of aerial surveys may readily vary from $1.25 to $200 a square mile. Sherman M. Fairchild became interested in the design of a radically different aerial camera during the war. At its close he was about ready to demonstrate his design to the War Department. By 1920, he was able to bring out his first completed model. It had a number of radical features, one of which was the first dependable high-speed between-the-lens shutter, which makes for accuracy in aerial photographic work. Another feature was the use of metal throughout, eliminating the wooden parts that had been employed in wartime cameras. Another feature was the interchangeability of parts.

Jan 1, 1937

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 David B. Reger

Exploration for new pools of gas in the Oriskany sand and continued exploitation of areas already known to be productive in that sand were the main features of petroleum activity in West Virginia during 1938. To a considerable extent the exploration program resulted in failure, but the extension of former areas was eminently successful. Throughout the state, in general, less drilling was done than in 1937. According to the West Virginia Department of Mines, only 631 permits to drill were issued, as compared to 1034 in 1937. The account of operations, as reported by trade journals and other sources, shows that 766 wells were drilled, resulting in 131 oil wells with 1609 bbl. of daily production; 484 gas wells with 1,232,216,000 cu. ft. of daily open flow; and 151 dry holes. Several discoveries indicate new pools of oil and gas; and several extensions of old gas pools have been made. In spite of a decreased number of total wells, the figures for new gas and oil are both larger than in 1937. The new oil average is 12.3 bbl. per well per day; the gas average is 2,545,900 cu. ft. per well per day, the ratio of dry holes to completions is 19.71 per cent. No general attempt was made to discover new pools of oil. A continued low price, coupled with reduced takings, combined to make drilling unattractive. The principal oil wells completed, by counties are: Boone, 6; Calhoun, 10; Clay, 7; Gilmer, 5; Kanawha, 5; Lincoln, 7; Pleasants, 13; Ritchie, 32; Roane, 6; Tyler, 7; and Wirt, 14. Production for the year, according to the Oil and Gas Journal, was 3,724,750 barrels. The leading counties in gas, with the number of successful wells in each, are: Boone, 16; Braxton, 13; Cabell, 47; Calhoun, 29; Doddridge, 10; Gilmer, 55; Kanawha, 127; Lincoln, 18; Ritchie, 29; Wayne, 19; and Wetzel, 26. Production for the year is estimated as 150,000,000,000 cubic feet. Pipe-line construction, which was extensive in 1937, was insignificant in 1938. Exploration was not as active as in 1937. Field prices of both oil and gas have severely declined.

Jan 1, 1939

By David B. Reger

Exploration for new pools of gas in the Oriskany sand and continued exploitation of areas already known to be productive in that sand were the main features of petroleum activity in West Virginia during 1938. To a considerable extent the exploration program resulted in failure, but the extension of former areas was eminently successful. Throughout the state, in general, less drilling was done than in 1937. According to the West Virginia Department of Mines, only 631 permits to drill were issued, as compared to 1034 in 1937. The account of operations, as reported by trade journals and other sources, shows that 766 wells were drilled, resulting in 131 oil wells with 1609 bbl. of daily production; 484 gas wells with 1,232,216,000 cu. ft. of daily open flow; and 151 dry holes. Several discoveries indicate new pools of oil and gas; and several extensions of old gas pools have been made. In spite of a decreased number of total wells, the figures for new gas and oil are both larger than in 1937. The new oil average is 12.3 bbl. per well per day; the gas average is 2,545,900 cu. ft. per well per day, the ratio of dry holes to completions is 19.71 per cent. No general attempt was made to discover new pools of oil. A continued low price, coupled with reduced takings, combined to make drilling unattractive. The principal oil wells completed, by counties are: Boone, 6; Calhoun, 10; Clay, 7; Gilmer, 5; Kanawha, 5; Lincoln, 7; Pleasants, 13; Ritchie, 32; Roane, 6; Tyler, 7; and Wirt, 14. Production for the year, according to the Oil and Gas Journal, was 3,724,750 barrels. The leading counties in gas, with the number of successful wells in each, are: Boone, 16; Braxton, 13; Cabell, 47; Calhoun, 29; Doddridge, 10; Gilmer, 55; Kanawha, 127; Lincoln, 18; Ritchie, 29; Wayne, 19; and Wetzel, 26. Production for the year is estimated as 150,000,000,000 cubic feet. Pipe-line construction, which was extensive in 1937, was insignificant in 1938. Exploration was not as active as in 1937. Field prices of both oil and gas have severely declined.

Jan 1, 1939