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By E. W. Pehrson, J. W. Furness

THE method of presentation in the accompanying charts is based upon the well-known formula: production plus imports minus exports equals apparent consumption. Thus for each area for which data are shown there are two columns of equal height, one representing production plus imports, the other apparent consumption plus exports. Usually no account has been taken of increases or decreases in stocks. All columns and flow lines are drawn to a linear scale which is supplemented by figures showing the actual quantities represented. Owing to the small area occupied by the European countries on the world map it was impossible to show the details of the trade of the individual countries. All of Europe (except Russia), therefore, is shown as a single unit. However, statistics of production and consumption indicated elsewhere on the charts show the degree of self-sufficiency enjoyed by the major European powers.

Jan 1, 1936

By P. H. G., Durville

ANY metal which contains even a small percentage of aluminum possesses certain peculiarities of appearance and properties which are exhibited both when the metal is melted and after it solidifies. Pure aluminum, or an alloy containing a small proportion of aluminum, can be melted without flux-except for a layer of charcoal-because a film of aluminum oxide and metal forms at the surface of melted aluminum. Although very thin, this film is air-proof, and it prevents the metal underneath from oxidizing. This oxidized film does not move easily on account of its toughness and high surface tension. One very important point in connection with this process of still casting has not been strongly enough stressed, namely, that the same kind of surface film with the same peculiarities forms over the surface of all melted alloys that contain even a small proportion of aluminum. Experienced foundrymen know how desirable it is to cast aluminum under its "skin" or under the surface of the film which tends to remain still. In the case of red copper, when in fusion, the surface shows pure copper only. This' is due to the fact that liquid copper constantly absorbs the copper oxide which forms on the surface. By closely examining melting copper the oxide can be seen dissolving in the bath, and going into solution just as pulverized sugar dissolves in water. When copper is cast in the open, either in wire bars or cakes, the surface of metal exposed to the air is covered by a film of black oxide that cannot be absorbed by the metal.

Jan 1, 1927

By H. T. Hildage

Although Greater New York does not bear any resemblance to a great mining district, the mining operations that are being conducted in and about the city are both extensive and interesting in character. With regard to the extent, it may be mentioned that, at present, there is more dynamite used in New York than in any mining district in the United States; that there are under construction about 38 miles of tunnel, and that 66 miles more are projected, most of which must be constructed .in the near future; that since 1903 at least 2,000,000 tons of earth has been removed in underground work, in addition to about 3,500,000 tons that has been removed in open-cut in connection with tunnel-work, and many times this quantity that has been removed in excavating foundations for buildings not connected with tunnel-work; and that there are to-day probably more than 5,000 men engaged in mining-work in and about New lrork City. These undertakings include almost every operation connected with underground work, from exploration by means of trench and boring, to the sinking of large shafts and the driving of large tunnels through every kind of ground from hard rock to soft, semi-fluid silt and quicksand. It is proposed in this paper to give a general description of some of the methods and appliances used in the opening-up of a " mine " in a large city, and a brief description of some of the &'mines" now being developed in New York, connecting as far as possible the methods described with the particular work for which they were designed, in order to give a general idea of the

Jan 1, 1908

By Wm. Reuben Webster

BRASS is an alloy of copper and zinc. The brasses (using this term to denote all useful proportions of the two constituents) are the most valuable and widely employed of all [ ] nonferrous alloys, because of their high resistance to ordinary corrosive agencies and the very wide range of properties that may be imparted to them by variations in the proportions of the constituents and by variations in mechanical treatment and heat-treatment. Fig. I shows the normal physical properties, as determined by standard tensile tests, of the series when in the annealed condition. Fig. 2 shows the effect of varying amounts of cold-working on an almost pure brass containing 70 per cent copper and 30 per cent zinc. Fig. 3 shows the effect of annealing at various temperatures on the same alloy. This effect is somewhat modi [ ] fled by the degree of cold-working to which a brass has been subjected, as shown by Fig. 4. A fourth test, which is empirical, has been found useful because of its simplicity -the hot hammer test. Samples Y2 in. in diameter and ¾ in. long are placed in a suitable furnace. These are withdrawn one at a time at successively higher tempera¬tures and are subjected to the blow of a drop hammer weighing 50 lb. with a drop of 4 ft. The percentages of' reduction in length of the cylinders are plotted against temperatures and give a comparative measure of plasticity at different temperatures. The results of this test on several

Jan 1, 1942

By C. E. Abbott

The Birmingham district, Alabama, is distinctive in the proximity to one another of its deposits of iron ore, coal and flux. These three basic requisites for the making of iron and steel are found within a radius of 10 miles. Both dolomite and limestone are produced, the former for blast-furnace flux and the latter for basic open-hearth operations. The Tennessee Coal, Iron and Railroad Co., a subsidiary of the United States Steel Corporation, operates a limestone mine at Muscoda, near Bessemer, 12 miles southwest of Birmingham, served by its own railroad transportation system. The mine has a capacity of 130 tons per hour. Average analyses of a recent month's production arc as follows: Fe²zO³ SiO² Al²O³ CaCO³ MgCO³ Lump, percent............................. 0.51 0.22 98.63 0.14 Crushed and washed, per cent,................ 0.70 0.26 98.36 0.18 Lump stone, 2 1/2 to 755 in., is used in open-hearth operations at Fairfield Steel Works. Fine crushed and washed stone, 1% to 0.063 in., is calcined at the lime-burning plant and used for lime charges at the Ensley open hearths. Geology The district's deposits of hematite ore occur in the Clinton formation, and the limestone beds mined are stratigraphically 330 ft. above the ore beds worked. A cross section on the center line of the mine is shown in Fig. 1. This limestone formation, 130 ft. thick, is in the Warsaw horizon of the Lower Mississippian. It lies above 100 ft. of Fort Payne chert, which is immediately above the Clinton formation, and is composcd of layers of chert and cherty limestone, approximately 50 per cent of the material being pure chert. The chert is extremely hard, and the cost of driving raises through it is very high. Both iron ore and limestone deposits lie on the southwest limb of the Jones Valley anticline, the formations dipping from 15' to 32' to the southeast. The iron-ore seam outcrops along the crest of Red Mountain, a ridge with northeast-southwest trend rising 200 to 300 ft. above Jones and Shades valleys at the

Jan 1, 1938

By C. E. Abbott

The Birmingham district, Alabama, is distinctive in the proximity to one another of its deposits of iron ore, coal and flux. These three basic requisites for the making of iron and steel are found within a radius of 10 miles. Both dolomite and limestone are produced, the former for blast-furnace flux and the latter for basic open-hearth operations. The Tennessee Coal, Iron and Railroad Co., a subsidiary of the United States Steel Corporation, operates a limestone mine at Muscoda, near Bessemer, 12 miles southwest of Birmingham, served by its own railroad transportation system. The mine has a capacity of 130 tons per hour. Average analyses of a recent month's production arc as follows: Fe²zO³ SiO² Al²O³ CaCO³ MgCO³ Lump, percent............................. 0.51 0.22 98.63 0.14 Crushed and washed, per cent,................ 0.70 0.26 98.36 0.18 Lump stone, 2 1/2 to 755 in., is used in open-hearth operations at Fairfield Steel Works. Fine crushed and washed stone, 1% to 0.063 in., is calcined at the lime-burning plant and used for lime charges at the Ensley open hearths. Geology The district's deposits of hematite ore occur in the Clinton formation, and the limestone beds mined are stratigraphically 330 ft. above the ore beds worked. A cross section on the center line of the mine is shown in Fig. 1. This limestone formation, 130 ft. thick, is in the Warsaw horizon of the Lower Mississippian. It lies above 100 ft. of Fort Payne chert, which is immediately above the Clinton formation, and is composcd of layers of chert and cherty limestone, approximately 50 per cent of the material being pure chert. The chert is extremely hard, and the cost of driving raises through it is very high. Both iron ore and limestone deposits lie on the southwest limb of the Jones Valley anticline, the formations dipping from 15' to 32' to the southeast. The iron-ore seam outcrops along the crest of Red Mountain, a ridge with northeast-southwest trend rising 200 to 300 ft. above Jones and Shades valleys at the

Jan 1, 1938

Willet G. Miller, Toronto, Canada (communication to the Secretary): In his interesting paper Mr. Lindgren says: " As to ultimate results, it would seem as if we should be justified in concluding, with Prof. Suess, that the gold-supply of the world will gradually decrease if no further important improvements are made in the processes for the extraction of this metal; but regarding events so far distant no predictions may safely be made." It seems to the writer that no very important improvements require to be made in order at least to keep up the present production for many years to come. In many parts of the world there are large deposits of auriferous material which can be worked if present conditions are slightly changed. In the territory occupied by the Archean protaxis of the Province of

Jan 1, 1903

Aamot, Olav Crone, Research Engr., Norsk Elektrokemisk Kongensgt, 18, Oslo, Norway ?29 Abbott, Clarence E., V.P., Charge of Raw Materials, Tenn. Coal, Iron & R. R. Co., 1242 Brown-Marx Bldg., Birmingham, Ala. '04 Abbott, Louis Benjamin, Chief Engr., Consolidation Coal Co., Watson Bldg., Fairmont, W. Va. '15 Abel, Raymond L., Asst. Prof., Dept. of Pet. Refin., Univ. of Pittsburgh Pittsburgh, Pa. '28 Abel, Walter D., Cons. Engr 364 S. Cloverdale Ave., Los Angeles, Calif. '32 Abele, Louis T 1457 Euclid Ave., Zanesville, Ohio. '31 Abell, Leo M Sullivan Concentrator, Chapman Camp, B. C., Canada. '31 Aborn, Robert H., Asst. Met., Research Lab., U. S. Steel Corp., Lincoln Highway, Kearny, N. J. '19 Abraham, W. E. V., East India United Service Club, 16 St. James' Sq., London, S. W. 1, England. '28

Jan 1, 1936

By A. E. Harnsberger

IT is obvious that details such as the physical and chemical properties and methods of heat-treating of the materials mentioned must be omitted in a paper on the subject of materials used in oil-refinery pumps1. Only sufficient identification is given to enable the reader to find additional information from already published data. Also, the subject covers many operating conditions, but only the most important services can be discussed here. To the oil refiner, the pumping equipment is of vital interest. Practically every refinery operation, from the charging of crude oil to a distillation unit to the shipping of refined products, involves some form of pumping machinery. Intermediate refining stages involve a great variety of pumping machinery to carry out successfully the aims of the refinery technologist. Temperatures at which oils are handled vary from -50° F. to 900° F. Pressure may vary from subatmospheric to 2000 lb. per sq. inch. The selection of the proper materials involves a careful consideration of the conditions under which the particular pump must operate. The four, most important considerations are temperature, pressure, corrosion, and abrasion or wear. Consideration of temperature may be divided into three parts: (1) extremely low temperatures of the order of -50° F.; (2) temperatures at atmospheric or slightly above; .(3) temperatures from 200° to 900° F. Pressures fall into two groups: (1) pressures reached by ordinary trade pumps of the order of. 200 lb. per sq. in., (2) extreme pressure conditions involving pressures as high as 2000 lb. Noncorrosive and corrosive oils can be treated differently. Under the latter falls corrosion in the presence of water, which will occur up to 250° F. The second type of corrosion occurs in high-temperature pumping equipment, with temperatures from 450° to 900° F., largely caused by sulfur compounds. There are also other corrosive conditions met with

Jan 1, 1935

By C. H. Mathewson

MICROSCOPIC rnetallography has been exploited quite well enough to bring about a very general understanding that the typical metal or alloy is composed of minute crystalline particles blended into a coherent microstructural mosaic. One does not have to be a specialist in metallography to realize that the properties of such an aggregate are essentially a summation in appropriate form of individual effects derived from the shape, size, placement or orientation and cohesive characteristics of the component particles. It is clearly of great importance to consider the various forms of discontinuity which may occur at the boundaries between these crystalline particles. When a number of particles each possessing the same orderly arrangement of atoms are brought together into a close-fitting system of purely haphazard contacts, not unlike a handful of snowflakes compacted into a snowball, the particles are said to possess random orientation. There are no generally accepted views concerning the arrangement of the atomis or the constitutional reaction between atoms where one crystal meets another, but these contact regions are characterized by strength rather than weakness and it is customary to require the presence of many rather than few boundaries in preparing metal for useful service. Under certain circumstances all of the particles in a metal may be nearly alike in orientation. Other general tendencies of orientation may be associated with particular forms of mechanical and thermal treatment. In contrast with these cases of fortuitous or statistical diversity of orientation, we often find adjacent particles united along a plane which possesses a grouping of atoms belonging equally well to both structures. This, of course, determines a fixed relationship between the two orientations and it is always possible to derive one from the other by some form of rotation or reflection prescribed by the symmetry of the crystal structure under consideration. Particles united in this manner are known as twin crystals although the term refers to the form of association rather than the number of individuals concerned.

By C. H. Mathewson

MICROSCOPIC. rnetallography has been exploited quite well enough to bring about a very general understanding that the typical metal or alloy is composed of minute crystalline particles blended into a coherent microstructural mosaic. One does not have to be a specialist in metallography to realize that the properties of such an aggregate are essentially a summation in appropriate form of individual effects derived from the shape, size, placement or orientation and cohesive characteristics of the component particles. It is clearly of great importance to consider the various forms of discontinuity which may occur at the boundaries between these crystalline particles. When a number of 'particles each possessing the same orderly arrangement of atoms are brought together into a close-fitting system of purely haphazard contacts, not unlike a handful of snowflakes compacted into a snowball, the particles are said to possess random orientation. There are no generally accepted views concerning the arrangement of the atoms or the constitutional reaction between atoms where one crystal meets another, but these contact regions are characterized by strength rather than weakness and it is customary to require the presence of many rather than few boundaries in preparing metal for useful service. Under certain circumstances all of the particles in a metal may be nearly alike in orientation. Other general tendencies of orientation may be associated with particular forms of mechanical and thermal treatment. In contrast with these cases of fortuitous or statistical diversity of orientation, we often find adjacent particles united along a plane which possesses a grouping of atoms belonging equally well to both structures. This, of course, determines a fixed relationship between the two orientations and it is always possible to derive one from the other by some form of rotation or reflection prescribed by the symmetry of the crystal structure under consideration. Particles united in this manner are known as twin crystals although the term refers to the form of association rather than the number of individuals concerned.

Jan 1, 1928

By R. E. Cech

Metallographic observations on hydrogen-reduced nickel oxide crystals suggest that nucleation of nickel occurs at structural singularities in the oxide. The fully reduced structure contains micron-diameter, worm-like voids occupying 40 to 50 pct of the volume. The crystallographic orientation relationships between nickel oxide and nickel resulting from oxide reduction are recorded and discussed. THE process of reduction of oxide to metal is one of considerable complexity involving a chemical reduction reaction, mass transport of reducing agent to the point of reaction and of reaction product away from it, and finally a transformation whereby metal atoms released from the oxide rearrange to form a stable reduced phase. In addition, nucleation of the reduced phase affects the overall reaction kinetics. Thus far only the thermodynamic aspect of reduction has received the attention warranted by the importance of

Jan 1, 1960

By John C. Osmond

One of the least known geologic regions in the U.S. is the area now called the Basin and Range Province. It is paradoxical that so little geologic information has been compiled for a province that has yielded billions of dollars worth of metals and is currently producing a small amount of oil. Regional stratigraphic studies of parts of this large territory have been published only recently, and regional structural interpretations of even parts of the province are rare in the literature. This, of course, does great injustice to the earliest workers: Gilbert, Russell, Le Conte, Spur, Louderback, and others, who recognized the area as distinctively different from the rest of North America. Their simplified picture of the structure of the ranges and the province as a whole is the groundwork for present understanding and has never been superseded. Since their early works, however, geologic data from the province has consisted largely of detailed reports of widely scattered mining districts. Each district has been described as though it were an island in an unknown sea.

Jan 3, 1960

By Richard H. Rein, John Chipman

Liquid slags of the system SiO2-Ca0-MgO-A1~03 were equilibrated with liquid Fe-Si-C alloys in graphite or Sic crucibles at 1600°C in pure CO gas at atmospheric pressure, and the silicon content of both phases determined. Ternary slugs of the systern SiO2-CaO-A12O3 were also studied at 1550°C. The silicon content of the metal phase saturated with both graphite and SIC is 22.0pct at 1550°C and In the iron blast furnace, as in nearly all carbon-reduction processes, some silicon is transferred from slag to metal. The importance of this reaction is enhanced by its indirect effect on the transfer of sulfur from metal to slag, and this has stimulated a comprehensive research program on the equilibrium distribution of silicon between slag and metal. Earlier studies'-3 of this same problem provided data for calculation of the thermodynamic activities4 of the components in SiO,-CaO-A1,O3 slags. 22.4 pct at 1600°C. The temperature at which the phases cristobalite, gvaphite, $ SiC, liquid slag, Fe-Si-C alloy, and CO gas at 1 atm pressure can coexist in equilibrium was found to be 1533°C. The results agree well with earlier studies. They are shown graphically as lines of constant silicon cmtent in the metal which also are lines of constant SiO, activity in the slag.

Jan 1, 1963

[IRVING, JOHN D. :-(Continued.) Some Features of Replacement Ore-Bodies, and the Criteria by Means of Which They May be Discovered, XLII, [xlvii]. Discussions: on A Concise Method of Showing Ore-Reserves, XLIII, 714; on The Iron Deposits of Daiquiri, Cuba, LIII, 65; I on Recrystallization of Limestone at Igneous Contacts, XLVIII, 214; I on To What Extent is Chalcocite a Primary, and to what Extent a Secondary, Mineral in Ore Deposits, XLVIII, 194. minerals of gold deposits, Homestake belt, Black Hills, S. D., XLII, 54.]

Jan 1, 1918

By R. G. Bowman

Discussions of processes for the manufacture of white lead generally open with the statement that white lead is the oldest chemical pigment known to man. This fact is of more than historical interest; in the light of the present extensive use of white lead, it indicates that the compound possesses characteristics that make it unique among white pigments, and superior to all in its particular field. A greater variety of processes have been proposed for manufacturing white lend than for any other one chemical compound. Only a few of these processes have come into commercial use, however, and a large part of the present production here and abroad is made by the process used in ancient times. The outstanding disadvantages of the old process are that it is slow and laborious, affords no control of the product, and yields at best an impure material lacking in uniformity. Improved processes, sometimes classed all together as "quick processes," have had as their main object the shortening of the time required. Most of them accomplish this and some have yielded a superior product as well, but only two or three are now in use commercially. For centuries the manufacture and mixing of paints have been treated as an art, and the practice has been much influenced by tradition and precedent. There is a reluctance to abandon old materials for this purpose, and as few new uses for white lead have been developed, the adoption of the quick processes has been slow. The electrolytic production of white lead is not new, a large number of processes and forms of apparatus have been proposed and patented within the past 25 years, all directed toward the production of white lead, wholly or in part, by electrolysis. One or two of these processes were tried commercially but proved unsuccessful. Process The Sperry process, used by the Anaconda Lead Products Co., is the invention of Elmer A. Sperry, and was worked out to a commercial basis at the East Chicago plant. It resembles, in a general way, earlier methods, but embodies the features that make it possible to operate

Jan 1, 1926

By E. S. Rowland, J. Welchner, R. H Marshall

This paper presents results on an extension into the realm of high-carbon steels of some work recently published1 on the effects of time at temperature, quenching temperature and prior structure on the hardenability of one 0.20 and four 0.40 per cent carbon alloy steels. It was shown at that time that unless the conditions of time, temperature and prior structure are substantially the same in performing the hardenability test as in conducting hardening of parts in production, the correlation of hardenability information with the hardness and properties of production parts is often not of satisfactory accuracy. The general effects of these variables on the austenitic grain size, distribution of excess carbides and critical cooling rate have been known for many years and one or more have been investigated by Shepherd,2,3 Davenport and Bain,4 Digges,5,6 Digges and Jordan,' Post and associates8 and Roberts and Mehl,9 to mention only a few. There has been no systematic investigation, however, into the quantitative variations produced on the hardenability of commercial high-carbon steels by changes in these factors of time, temperature and prior structure. Procedure A plain carbon hypereutectoid steel, S.A.E. 52100 and Graph-Mo, a molybdenum-bearing high-carbon steel containing some graphite, were chosen for this investigation. The chemical analyses of these electric-furnace steels are given in Table I. The procedure used was exactly that reported previously,' hence the details will not be repeated here. Normalized (165o°F.) and spheroidized prior structures were utilized on all steels with hot-rolled and quenched (I600°F. oil) prior conditions added for the plain carbon steel. The end-quench test developed by Jominy10 was sclected for use in this investigation and, with the noted exceptions, the American Society for Testing Materials standard procedure was followed. The effect of time at temperature was examined at intervals of o, 10 and 40 min. and 4 hr., and a few 16-hr. tests were run. Salt-bath heating of the specimens was employed to control and minimize the

Jan 1, 1944

By R. H. Marshall, J. Welchner, E. S. Rowland

This paper presents results on an extension into the realm of high-carbon steels of some work recently published1 on the effects of time at temperature, quenching temperature and prior structure on the hardenability of one 0.20 and four 0.40 per cent carbon alloy steels. It was shown at that time that unless the conditions of time, temperature and prior structure are substantially the same in performing the hardenability test as in conducting hardening of parts in production, the correlation of hardenability information with the hardness and properties of production parts is often not of satisfactory accuracy. The general effects of these variables on the austenitic grain size, distribution of excess carbides and critical cooling rate have been known for many years and one or more have been investigated by Shepherd,2,3 Davenport and Bain,4 Digges,5,6 Digges and Jordan,' Post and associates8 and Roberts and Mehl,9 to mention only a few. There has been no systematic investigation, however, into the quantitative variations produced on the hardenability of commercial high-carbon steels by changes in these factors of time, temperature and prior structure. Procedure A plain carbon hypereutectoid steel, S.A.E. 52100 and Graph-Mo, a molybdenum-bearing high-carbon steel containing some graphite, were chosen for this investigation. The chemical analyses of these electric-furnace steels are given in Table I. The procedure used was exactly that reported previously,' hence the details will not be repeated here. Normalized (165o°F.) and spheroidized prior structures were utilized on all steels with hot-rolled and quenched (I600°F. oil) prior conditions added for the plain carbon steel. The end-quench test developed by Jominy10 was sclected for use in this investigation and, with the noted exceptions, the American Society for Testing Materials standard procedure was followed. The effect of time at temperature was examined at intervals of o, 10 and 40 min. and 4 hr., and a few 16-hr. tests were run. Salt-bath heating of the specimens was employed to control and minimize the

Jan 1, 1944

By L. L. Swift

AT the present time there are four base metals being used for automo-tive bearing alloys. Of course there are numerous variations in the amounts of alloying elements added to each base metal and nearly all of these alloys have the conventional, if not classical duplex structure; that is, they are composed of a hard constituent embedded in a soft matrix. The well-known theory is that the former will wear well, while the latter will be plastic enough to allow the bearing to be broken in and conform to the contours of the shaft. The requirements of the modern bearing have been most aptly described by W. M. Corse: In order to meet the engineering demands of today a good bearing metal must be able to carry the weight of the shaft and stand up under steady or suddenly applied loads, or even blows in some types of service. A certain amount of plasticity is desired to compensate for minute irregularities in the shaft or bearing surface, and to permit yielding, thereby avoiding dangerous stresses in bearing and shaft and pre-venting overheating and rapid wear of parts. Less plasticity is required in a bearing metal if the surfaces of bearings and journals are machined accurately, aligned, and kept in alignment. It is desirable, of course, that a bearing metal have a low coeffi-cient of friction. Under most operating conditions the friction depends on the unit pressure of the bearing, the speed, the temperature, and the properties of the lubricant. A good bearing metal must have a low rate of wear to reduce the necessity for frequent replacements, and adjustment of the bearings. It must wear more rapidly, however, than the journal or shaft running on it, because replacement of the journal or shaft is more difficult and costly than replacement of the bearing.1 The hardness of the bearing alloy is a property closely related to several of the foregoing. With a duplex microstructure, the measure-ment of hardness with any of the usual commercial devices means little. The Bierbaum method of measuring the hardness of the individual constituents was developed to fill this need.

Jan 1, 1938

By Cyrus Garnsey

NECESSITY FOR PRICE FIXING DURING the latter part of 1916 and the early months of 1917, clue to war activities, there was a threatened shortage of coal which resulted in panic among consumers and a rush to obtain coal at once at any price. As a result of this insistent demand for immediate delivery, prices were bid up by the consumers to unprecedented heights; spot coal which had previously been selling at from $1.50 to 82 per ton was bid up to $5, $6, and, in exceptional cases, as high as $7.50 or more per ton. Then when the April, 1917, contract period arrived, contracts could be made only at prices ranging from $3 up to $5 and $6 per ton for the year's delivery. This condition caused such a demoralization of the business, and so much complaint, that some action to regulate prices was considered essential by the National Administration. LANE-PEABODY AGREEMENT In May, 1917, a committee under the chairmanship of F. S. Peabody, of Chicago, was appointed by the Council of National Defense, through Mr. Lane, to consider the whole question of bituminous coal. This committee, with the Secretary of the Interior, Mr. Lane, after numerous meetings and long negotiations with the operators throughout the country, announced on June 29 an agreement between the Committee and the producers, fixing a tentative maximum price for bituminous coal throughout the country at $3 per net ton f.o.b. mines, to which was added 25 c. for selling commission to wholesalers. This plan was based on the idea of fixing a maximum price, high enough to greatly-stimulate production, with the expectation that the laws of supply and demand would, with ample production, operate to maintain fair and just prices for coal throughout the country.

Jan 9, 1918