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By Edgar F. Cruft

INTRODUCTION It is sometimes said that "mines are made, and not found." I rather doubt that the exploration geologist would be overly sympathetic to that statement, and, of course, like most one-liners it is only partly true. Access to different financial markets are important at the mineral prospect stage. The modern mine financier has a much more complex, and interesting, job than the financiers of an earlier era, for example, the Canadian financiers of the 40's and 50's who had one simple set of options; i.e. float a company, promote it, and sell an equity stock issue, and then promote it some more. QUALITIES OF A FINANCIER Because technical people are seldom taught financing in their basic training, and because they are usually not involved in it until at quite a senior level in their careers, the whole field often acquires a certain mystique. The engineering professions have too often believed financing is the province of the accountant or financial executive and just as we in the technical world are often too quick to bristle if the latter try to tread on our domain, the opposite can just as easily be true. Unfortunately, this is another example of a compartmentalized individual, and that is one thing the successful financier cannot be. However, to be a successful financier one does not need extensive training or experience in accounting or finance. In fact it can sometimes be a disadvantage to get too buried in working only from the standpoint of discounted cash-flow analyses, ROI's, etc. It must be stressed, however, that one had better know how these analyses are made, and be knowledgeable in understanding a balance sheet, and have a good understanding of financial terminology. The difference between a simple project-type debt financing with a commercial bank and a more inventive and creative financial package comes from an intuition and an experience relating to risk-reward factors. The most important element is "common-sense", based on knowledge and experience. The goal is structure a financial package that fits the project, and in so doing it is important to recognize that it must fit within the limitations of the group supplying the money. I find insensitivity to recognize these constraints the most common mistake made in the field. Put yourself in the other person's place and understand his sources of funds and financing limitations. The engineer has an advantage in financing, as he or she has (or should have) a better idea than anyone of the value of the product, be it the mine, prospect, or company i.e. the intangible or potential worth which cannot be put on a pro-forma. He also knows, or should know, the risks involved. Two projects might look the same on paper, but a good financier must have a sense of when to take whatever deal he can get, and when to hold out based on his evaluation of future developments. It is essential to have a good sense of commodity values and trends, trends affecting the general economy (money supply, interest rates, effects of energy costs, etc.), and political considerations. He must also have a good understanding of the science and art of taxation as deals can often be financed using the government as a silent and unwitting partner by proper use of the tax laws. WHEN TO SEEK FINANCE The first critical decision to make in financing a mineral prospect is "when". At the exploration level, when it is only a dream in the geologist's eye, the alternatives are more limited than when it is a fully-engineered project. The "when" decision depends on how much in internal funds the company has to play with, and how desirable it is to invite financial participation to spread the risk. Assuming that decision is not taken out of lack of money, no one can categorically say when to do it. There is

Jan 1, 1985

Jan 1, 1961

Jan 1, 1903

By C. W. Sherman, N. J. Grant

The correlation of the high temperature chemical properties of slag-metal systems with some easily measured property of either slag or metal at room temperature has been the goal of both process metallurgists and melting operators for many years. There are several rapid methods for estimating various constituents in steel in addition to the conventional chemical methods which are quite fast, but these do not reveal the nature of the slag as a refining agent, which is of primary interest to the steelmaker. Furthermore, there are several methods for examining slag, the three principal ones being slag pancake, petrographic examination, and the previously mentioned chemical analysis. The main objection to the last two is the lime required to make a satisfactory estimate of the mineralogical or chemical components. The objection to the first is the inadequacy of the information obtained. A new technique has been developed by Philbrook, Jolly and Henry1 whereby the properties of slags are evaluated from an aqueous solution leached from a finely divided sample of slag. It is known that the pH or hydrogen ion concentration (of saturated solutions that have dissolved certain basic oxides, notably calcium oxide) will indicate a pronounced basicity. Philbrook, Jolly and Henry devised the pH measurement technique in order to supply open hearth operators with a fast, reasonably accurate method of estimating slag basicity. They offered the method as an empirical observation and made no claims as to its theoretical justification. The results were presented as an experi-metally observed relationship which applied over an important range of basic open hearth slags. They found that, in plotting the measured pH against the basicity, the best relationship existed between the pH and the log of the simple V ratio, CaO/SiO2. Extensive investigation also showed that there were several variables in the experimental technique that influenced the results and necessitated following a standard procedure to obtain reproducible pH readings. These variables were: 1. Particle size of the slag powder used. 2. Weight of sample used per given volume of water. 3. Time of shaking and standing allowed before the pH was measured. 4. Exclusion of free access of atmospheric carbon dioxide to the suspension. 5. Temperature of the extract at the time the pH was measured. In subsequent investigations of the pH method by Tenenbaum and Brown2 and by Smith, Monaghan and Hay3 the general conclusions of Philbrook's work were reaffirmed. It was the object of the present investigation to extend the technique to a point where it could be used to evaluate slags of all types. Experimental Results PARTICLE SIZK OF SLAG POWDER A large sample of commercial blast furnace slag of intermediate basicity (V-ratio 1.15) was selected for the study. The slag had been put through a jaw crusher until all of it passed through a 20 mesh screen. Five fractions of this crushed material were separated, -20 to +40, -40 to +60, -60 to +100, -100 to +200, and -200 mesh. A representative sample of 0.5 g was removed from each fraction and the pH determined using the method of Philbrook. Check pH analyses on the sample fractions varied due to the different amounts of shaking. To eliminate this variable, a mechanical shaker was employed. In order to know the exact time of contact between the slag and water, it was found necessary to filter the extract at the end of the shaking period. Using the mechanical shaker and a filtering apparatus, similar runs were made on the five fractions for contact times of 5, 10, 20, and 40 min. Random checks gave reproducible results within 0.02 pH. The data are plotted in Fig 1. It can be seen from the plot that each slag fraction is hydrolyzed to an extent that is roughly proportional to the surface area exposed to the water. The (—100 to +200) mesh material changed very little in pH after 10 min. shaking time. The curves are symmetrical and lie in proper relation to one another. The —200 mesh curve appears to be somewhat flatter than the others, but this can be attributed to the portion of very fine material that is not present in the other fractions. The closeness of the (-100 to +200) mesh curve to the —200 mesh curve and the fact that a —100 mesh sample would contain amounts of slag down to 1 or 2 microns in diam were considered sufficient reasons for selecting a —100 mesh sample as representative of the whole sample of slag for the purposes of this investigation.

Jan 1, 1950

US 4,190,434 - In the thermal production of magnesium metal, a mixture of calcined dolomite, an iron- silicon-aluminum alloy as a reductant, and residual slag from the production of ferrochromium is smelted to evolve magnesium vapor, which is then condensed. The use of bauxite is lessened or eliminated because of the relatively high alumina content of the residual slag. R. Bonfils, A. Mena, C. Payn, and L. Septier, assigned to Ste. Francaise d’Electrometallurgie (SOFREM). Feb. 26, 1980. 6 pp. (75-10R). Filed: 6-14-78 (915,387). Priority: France, 6-24-77 (77/20,227).

Jan 1, 1982

By AIME AIME

PLANS are now well advanced for the joint meeting of the Institute and over a dozen other engineering societies in Chicago during the week beginning June 26: Engineers' Week at A Century of Progress. All engineers planning to visit the Fair will find it to their advantage to be present at this time so far as the Chicago attractions are concerned, and Eastern members will also have the advantage of special transportation arrangements on June 24 and 25. The tentative program is given at the bottom of the next page. Monday morning, June 26, will be reserved for registration of members and guests and the Woman's Auxiliary at the Stevens Hotel, where special rooms will be provided. A luncheon will also be served there, and in the afternoon, a technical session on nonmetallics. Instead of having the big family dinner that evening at the Stevens, as at first proposed, the local committee has planned to have it at the Fair Grounds, where special facilities have been arranged. A meeting of the Board of Directors and a few invited guests will precede the dinner. All members and guests are likely to be interested in visiting the Museum of Science and Industry, so that will be the sole event on the program for Tuesday morning, June 27. The big attraction there at present is the model coal mine, the first operative coal mine ever built for exhibit purposes. It is based on the Deutsches Museum mine at Munich, but goes far beyond that in realism, and takes the visitor on an extended tour underground. It shows him in half an hour more types of modern mining machinery and coal geology than he would be likely to see in a week's underground study in the coal fields. The Institute members will be the first group to go through this mine.

Jan 1, 1933

By Wheeler North

THE United Eastern Mining Co.'s property is located in the Oatman, Gold Roads mining district of Mohave County, Ariz. The mine and mill are some 26 mi. (41.8 km.) southwest of Kingman, the nearest railway connection. The ore consists of a mixture of calcite and quartz with some andesite. The values, which are mainly gold, alloyed with approximately 34 per cent., by weight, of silver, are extremely fine so that fine grinding is a most important factor in extraction. The milling process, briefly, consists of single-stage, coarse-crushing, two-stage ball milling in cyanide solution, followed by combined mechanical and air agitation, and by straight counter-current decantation. The Merrill zinc-dust precipitation method is used to recover the values, and is preceded by the Crowe vacuum treatment of the solution. The most notable features of the plant are the absence of filters, and the use of short peb mills loaded with steel balls, for fine grinding. As originally designed, the capacity of the mill was to be 200 tons per day, although the grinding end was to be capable of handling double that amount. By adding extra agitators and thickeners and by some alterations to the grinding end, the daily capacity has been raised to 285 tons. This, it is hoped, may be increased to 300 tons during the warm months of the present year. TONNAGE MILLED PER DAY 1917 average 234 Maximum month 272 Minimum month 146 1918 average 253 Maximum month 276 Minimum month 217 As this article primarily deals with plant operations, those interested in the mechanical description are referred to the article by Mr. Otto Wartenweiler,1 the designing engineer, which gives the details and costs of design and construction. The following changes have been made since that article was published:

Jan 8, 1919

By W. R. Ingalls

THE bases of the work by the committee whereof I am chairman were (1) the abolition of extra-lateral rights and (2) the preservation of the maximum of the existing laws. The matter of extra-lateral rights had been under prolonged discussion among mining men and up to the time when our com-mittee began its work (in 1917) the expression of opinion in every way whereby it could be made known -and those ways were extensive-was only a little short of being unanimous that extralateral rights ought to be abolished. I have not observed important evidence indicating a change of opinion on the subject since 1917. ABOLITION OF DISCOVERY LOGICAL Now, when it be decided that extralateral rights ought to be abolished, there can not be merely a simple change to that effect, but it is found that consequential changes are necessary all the way through the existing laws. Abolition of extralateral rights implies abolition of discovery as a prerequisite to location, for otherwise there would be no legal means for locating claims on the dip of a vein. Quite apart from this consideration, abolition of discovery as a prerequisite to location is supported by other good reasons. Among these are the occurrence of orebodies with no exposure on the surface and which often are hidden at great depth. A prospector who has reason to suspect the occurrence of such an orebody must have legal means for the location of a claim within which to explore, and obviously he may. not be able to make any discovery on the surface sufficient to locate and hold legally such a claim under the terms of the law as it stands at present. As a matter of fact, discovery as a prerequisite to location was abolished by common consent many years ago, not only for the reasons that I have given here-inbefore but also for others. It is highly desirable to revise the mining law in this respect, so that it will conform to the conditions of practice and not require people to perjure themselves in making locations, even if it be for praiseworthy purposes.

Jan 6, 1922

By Richard E. Gray, William S. McCann, Robert C. Speck, Robert W. Bruhyn

Subsidence of the ground surface is the inevitable result of high recovery longwall and room and pillar coal mining operations. Up to now, U.S. research into this phenomenon has been concerned primarily with documenting the magnitude and extent of ground movements and prediction of the attendant ground strains through traditional ap¬proaches that have been developed in Europe and the United Kingdom. Preoccupation with ground strain prediction has, unfortunately, diverted attention from the more meaningful objective of predicting the severity of damage to structures at ground surface and the prob¬able cost to repair such damage. An attempt has been made to rectify this situation by reviewing in detail one hundred thirty four cases of subsidence damage to dwellings above active mines in western Pennsylvania, identifying the types of damage and the circumstances under which damage took place. The data reveal that damage to dwellings virtually always includes basements in addition to the readily apparent effects to the superstructure. In 90 percent of the subsidence cases, more than half the repair cost is associated with damage to subgrade components. A damage classi¬fication system has been devised that relates observed damage to severity and repair cost in a uniform manner for conditions in the Northern Appalachian Coal Field. Damage severity has been examined in the context of depth to the mine, the character of the near¬ surface overburden materials, mining type and other parameters.

Jan 1, 1983

ECONOMICS In the preceding pages you will find an attempt to judge the direction of one phase of the mining industry in Drift, and following that a quick round up of what happened to production in 1958 in Trends. Next, Charles Merrill presents a comprehensive price history for the mineral products of greatest importance, complete with figures for the past 50 years. On the following pages Nathaniel Arbiter and Charles Will Wright take a look at price trend prospects and the cold war in mining, respectively. MINERALS BENEFICIATION Fifty years progress is reviewed as a springboard for a look ahead. In the past decade the art has moved forward, but the author fears that the science is not progressing as promisingly.

Jan 2, 1959

By W. S. Ayres

A BRIEF history of the growth of the anthracite-coal preparation will give a better view-point from which to judge the present problem of separating slate from coal. At the beginning of the commercial value of anthracite, 70 years ago, only the pure portions, or " splits," of the veins were mined and shipped to market, and without any preparation or screening other than the selection, while loading, of the glassy lumps, and the rejection of the fine material and the slate that had strayed accidentally into the coal. The next step was the crushing or breaking of the coal (hence the name Lt breaker" as applied to the preparation-building), and the sizing of it by means of bars or revolving screens. This stage of its development marked the advent of the "breaker-boy " as a slate-¬picker, with his ever-increasing capriciousness. As the richer veins or ? splits " became exhausted and the market demanded a still greater output, the less-pure " splits " and the thinner veins were utilized to produce the coal. Carrying as they do a far greater percentage of impurities; particularly when removing the pillars, it became necessary to build new and better equipped preparation-plants. Finally, we are now at the highest stage of complication yet known to the art of coal-preparation. We are dealing with varying specific gravities, frictional difference, hardness, structure, and form in the pieces of coal and slate coming from many different veins, and

Dec 1, 1909

By Raimo Matikainen

Sublevel stoping has been used in Finland since the 1930's and today more than ten under- ground mines have adopted it as their main stoping method (Fig. I). Approximately 80% of the total underground tonnage is mined by sub- level stoping (Table 1) The first mines to introduce the sublevel stoping method in Finland were limestone mines. The development of sublevel stoping was very slow up to the mid 1960's when the switch to trackless mining started and the increase of mechanization lead to higher capacity and productivity. The method itself has been almost the same since the 1950's when long hole drilling was introduced. According to a future prognosis sublevel caving will give way to sub- level stoping; on the other hand, open pit mining will at the same time grow rapidly with some new mineral orebodies, which will he brought into production. Most Finnish orebodies are, however, only marginal ores and they could not support mining with more expensive methods than open pit mining or sublevel stoping. The future of sublevel stoping seems relatively bright. GEOLOGICAL AND ROCK MECHANICAL BACKGROUND The rock mechanical conditions in Finland are in general relatively good and the rocks firm. The compressive strength is normally 40 - 150 Mpa and modulus of elasticity 40 - 200 Gpa. Low values are common in altered and fractured rocks and near the ore contact Rock stress measurements have been carried out already for 20 years for mine design and monitoring purposes. The results of these measurements show that relatively high horizontal stresses seem to be common (Fig. 2).

Jan 1, 1981

THE following employment items are made available to AIME members on a nonprofit basis by the Engineering Societies Personnel Service, Inc., operating in cooperation with the Four Founder Societies. Local offices of the Personnel Service are at 8 W. 40th St., New York 18; 100 Farnsworth Ave., Detroit; 57 Post St., Son Francisco; 84 E. Randolph St., Chicago 1. Applicants should address all mail to the proper key numbers in care of the New York office and include 6c in stomps for forwarding and returning application. The applicant agrees, if placed in a position by means of the Service, to pay the placement fee listed by the Service. AIME members may secure a weekly bulletin of positions available for $3.50 a quarter, $12 a year. MEN AVAILABLE Sales Engineer, 37, seven years experience Europe and Latin America both in underground work and administrative and sales work; speaks fluent Spanish, Portuguese, French. Desires responsible position preferably export in U. S. M-692. Superintendent, 46, married. Experience covers mining and metallurgy as mining engineer and as general superintendent; metallurgy of leaching, flotation, cyanidation; development, construction, operation. Presently available. Prefer U.S.A. M-693-333-E-1-San Francisco. Mine Manager, Superintendent, Consultant, 61, married. Design and erection of mining and mill plants-examinations. Many years as superintendent, manager, consultant, designer and builder of mining plants, flotation mills, concentration mills. Available one month's notice. Prefer U. S. but foreign acceptable if good climate. M-695-4211-E-9-San Francisco.

Jan 1, 1952

By M. E. Hassan, J. C. Calhoun, R. F. Nielson

An apparatus was constructed for the measurement of inter-facial tensions over a range of temperatures and pressures. This apparatus utilized the pendent drop method, and resembles in construction similar apparatus recently described in the literature and in use in some petroleum research laboratories. The interfacial tensions of benzene, propane, n-pentane, n-hexane. n-octane. and iso-octane against water were measured at temperatures ranging from 26" to 82" C and at pressures ranging from 1 to 204 atm. Values of interfacial tensions for the henzene-water system and their variations with temperature and pressure are generally in good agreement with value? of previous investigations. The data in all cases showed a slight decrease of interfacial tension with pressure at constant temperature in the range studied. The effect of pressure became less as the pressure was increased, with an indication of a reversal of the effect at higher pressures. There was a decrease of interfacial tension with temperature at constant pressure in all cases, as would normally be expected. This rate of decrease became greater the higher the temperature. A general equation is presented for the interfacial tensions as a function of presPurp and temperature over the range studied, and the constants calculated for each system. A definite trend was found in the effect of molecular weight on the interfacial tension at a given temperature and pressure, for the homologous series from propane to n-octane. Data for n-decane from the literature fitted well into this trend. INTRODUCTION It has been recognized for many years that surface forces play an active part in the production history of an oil reservoir as well as in determining the amount of unrecoverable oil. The magnitudes of these forces are governed by the values of the interfacial tensions. These vary greatly with composition, pressure, and temperature. The effect of composition is greater than that of pressure and temperature over the ranges normally encountered. In fact, because of the variety of compounds present in a crude, no attempt has yet been made to correlate crude composition with its surface tension or with its interfacial tension against water. The amount of dissolved methane greatly affects the surface properties of an oil, and there are "surface-active" compounds in crudes which have a much greater effect on boundary tensions than do equal amounts of hydrocarbons. The purpose of the present work was partly to contribute data that would eventually be used in correlations applicable

Jan 1, 1953

By David Donoghue

EFFORTS made in the year 1930 and in previous years restricted pro-duction in most of the fields of Texas to a point that was satisfactory, at the beginning of 1931, to the majority of producers and buyers. In the Panhandle, North Texas and West Central Texas districts, a few operators with refinery affiliations or contracts either ignored, or by virtue of injunction suits, did not comply with the Railroad Commission's orders, and there was some oil sold at less than posted prices, which, with the Oklahoma City difficulties, caused the first general price reduction. More could have been done perhaps to help the situation on the Gulf Coast and in the Laredo district, but natural advantages are not readily surrendered.

Jan 1, 1932

E L. DEGOLYER, our new president, though a petroleum geologist by profession, has always s been associated with mining, for soon after his birth at Greensburg, Kan., on Oct. 9, 1886, his parents moved to Joplin, and when he went, in the course of time, to the University of Oklahoma, he intended to follow his course there with another at a mining school. He became a field assistant in the U. S. Geo-logical Survey, however, while still an undergradu-ate, and after field experi- ence in Montana, Wyoming, North Dakota, Colorado and Oklahoma, he went to Mexico as geologist for the Mexican Eagle Oil Co. This was in 1909, and as a result he was unable to complete his work for his degree until 1911. In Mexico, he located the Potrero de Llaño No. 4, one of the world's largest oil wells, and also the dis- covery well in the Naran- jos pool; and the Colorado School of Mines conferred the honorary degree of : Doctor of Science on him in 1925. On his return from Mexico, he engaged in the consulting business, specializing in financial ap- praisement, the Union and Marland companies being among his clients. In 1919, he organized the Amerada Petroleum Co., with the backing of Lord Cowdray. Last year, control of the company was purchased by an American group, headed by Dillon, Read and Co. Mr. DeGolyer is n o w president of the company. He is also vice-president and general manager of the Rycade Corp, the Rycade Oil Corp., and president of the Geophysical Re-search search Corp. The l a t t e r represents the practical appli-cation of his inter-est in the use of the torsion balance in the locating of salt domes, in which he has pioneered, the Nash dome being the first oil field in America actually brought into production by these methods.

Jan 3, 1927

By Kenneth Cotingham

Many factors joined in reducing drilling activity in Ohio in 1942. Conservation Order M-68 was important, but other things, such as operators and members of drilling crews joining the armed services and going into war plants, had an important part. The reduction in number of completions was considerable. In 1941, the total of wells drilled was 1561 but in 1942 the total was 1008. The total initial daily open flow discovered by the 701 gas wells drilled in 1941 was 492,000 M cu. ft., whereas the open flow of the 471 gas wells completed in 1942 was 314,488 M cu. ft. The total initial daily production of the 333 oil wells drilled in 1941 was 10,300 bbl., and in 1942 the 181 oil wells had a total daily initial of 7570 bbl. The average daily initial per gas well therefore was somewhat less in 1942 when compared with the preceding year, but the initial per ail well increased about 36 per cent over 1941. General Activity The total depth of the 652 oil and gas wells drilled in 1942 was 1,597,000 ft. The most active county was Perry, where 63 oil wells were drilled, most of them in Clayton township. In Morgan County. where 43 gas wells were drilled, the greatest activity was in York and Marion townships. Medina County was third in number of wells drilled, although of the total of 33 gas wells in the county, 26 were in the new Hinckley township pool. The total initial open flow of these 26 wells was 39,202 M CU. ft., and was considerably larger than from any other single area. Muskingum was an active county, particularly Washington and Wayne townships, in each of which seven gas wells were drilled, and Blue Rock and Harrison townships, in each of which five gas wells were drilled.

Jan 1, 1943

By Kenneth Cotingham

Many factors joined in reducing drilling activity in Ohio in 1942. Conservation Order M-68 was important, but other things, such as operators and members of drilling crews joining the armed services and going into war plants, had an important part. The reduction in number of completions was considerable. In 1941, the total of wells drilled was 1561 but in 1942 the total was 1008. The total initial daily open flow discovered by the 701 gas wells drilled in 1941 was 492,000 M cu. ft., whereas the open flow of the 471 gas wells completed in 1942 was 314,488 M cu. ft. The total initial daily production of the 333 oil wells drilled in 1941 was 10,300 bbl., and in 1942 the 181 oil wells had a total daily initial of 7570 bbl. The average daily initial per gas well therefore was somewhat less in 1942 when compared with the preceding year, but the initial per ail well increased about 36 per cent over 1941. General Activity The total depth of the 652 oil and gas wells drilled in 1942 was 1,597,000 ft. The most active county was Perry, where 63 oil wells were drilled, most of them in Clayton township. In Morgan County. where 43 gas wells were drilled, the greatest activity was in York and Marion townships. Medina County was third in number of wells drilled, although of the total of 33 gas wells in the county, 26 were in the new Hinckley township pool. The total initial open flow of these 26 wells was 39,202 M CU. ft., and was considerably larger than from any other single area. Muskingum was an active county, particularly Washington and Wayne townships, in each of which seven gas wells were drilled, and Blue Rock and Harrison townships, in each of which five gas wells were drilled.

Jan 1, 1943

By A. L. Blomfield

THE Golden Cycle Mining and Reduction Co. operates its custom mill at Colorado Springs on Cripple Creek ores exclusively. These ores are straight sulpho-tellurides, with practically no base metals such as Pb, Cu, Zn, As, or Sb. Upon entering the mill, the ore all passes through the sampler to storage bins, where beds of 5000 tons each are made to insure uniformity in roasting. CLASSIFICATION OF ORES For efficiency, it has been found advisable to separate the ores into two classes according to their line content. Other constituents have their effect, such as alumina and magnesia, but, speaking generally, these are roughly proportional to the line, which, as CaO, is used as the indicator. Class A contains not more than 2 per cent. CaO and comprises about 66 per cent. of the ore treated. Class B contains over 2 per cent. CaO, and comprises 34 per cent. of the ore treated. Typical analyses of both classes are as follows: Class A Class B Insol 56.70 75.90 Al203 2.30 3.40 Fe 3.26 3.48 CaO 1.57 5.12 S 1.79 1.80 Mg0 0.21 1.08 Ignition loss 3.20 6.50 99.03 97.28 The beds of each class of ore are made as large as possible with the available ore as it comes in, to avoid changing from one bed to the other any oftener than necessary. Each roaster will handle 50 percent. more of class A ore than of class B, with practically the same results. This necessitates changing the rate of feed for each new bed and tends toward a poor roast and loss of tonnage at each change.

Jan 8, 1918