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By P. A. Fisher, J. B. Wilson, D. J. Whitehead, C. J. P. Ball, A. C. Jessup

The properties of a new magnesium alloy ZT1 containing 3.0 pct Th, 2.5 pct Zn, 0.7 pct Zr are described. The alloy possesses good creep and fatigue resistance up to 650°F, is free from microporosity, and is readily sand-cast. ZT1 is shown to be superior to zinc-free Mg-Th-Zr alloys. THE advent of the jet engine created a demand for a light sand-casting alloy capable of being cast into large complex shapes and capable of resisting creep at temperatures up to 500°F. This demand has been largely met by alloys of the magnesium-cerium mischmetal-zirconium types, containing about 3 pct Ce mischmetal and 0.7 pct Zr, typified by Elektron magnesium alloys MCZ and ZREI, the latter alloy also having a zinc addition of 2.5 pct. These alloys utilize the valuable properties at elevated temperatures conferred by the addition of rare earth metals to magnesium, a fact which has been known for many years and discussed by several investigators.1-1 Murphy and Payne8 showed that the addition of the powerful grain-refining element zirconium to Mg-Ce mischmetal alloys produced alloys with attractive room temperature properties combined with good creep properties and castability. With the increasing power of modern jet engines the temperatures to which some of the magnesium parts are subject are likely to exceed the safe working range of the cerium-mischmetal-containing alloys, and at the beginning of the research considerable interest had been shown by aeroplane engine designers in a magnesium sand-casting alloy suitable for service at higher temperatures, e.g., 600°F and above. At an early stage in the development of this type of alloy a check on the fatigue properties at elevated temperatures indicated that, since the fatigue limit even at 108 eversals was appreciably higher than any permissible creep stress, the main emphasis of the research could be concentrated on creep behavior. The primary aim in developing the new alloy has therefore been to attain maximum creep resistance; but due consideration has also been given to other important properties such as castability, tensile strength, and cost. It is by now well established that it is not possible to correlate creep strength with other short time mechanical properties such as are obtained in tensile

Jan 1, 1954

By Donald C. Barton

Geophysical methods of prospecting taken as a whole do not seem to offer much promise to a young man planning to enter them in the future. They have come to stay, to be sure, and they will continue in at least moderate use for a long time. Domestic use of those methods presumably is at a maximum at the present time. Geophysical prospecting is expensive; the effects of the law of diminishing returns in efficiency in finding prospects can already be recognized. Small oil companies, independent oil operators, and royalty buyers have been doing much geophysical work. But in face of the increasing costs of discovery of prospects and in face of the probably decreasing favorability of the prospects discovered, I expect to see a sharp drop in their use of geophysics within the next 10 years. The major oil companies and the larger small oil companies will continue to use geophysics indefinitely, but it seems doubtful whether the very extensive domestic campaigns of a few companies will be maintained for many years, certainly not for 10 years. The use of the geophysical methods in foreign countries has not yet reached its peak, and probaby will continue to increase for several years. That peak level of activity will probably be held for 10 years, although the site of maximum activity will shift from country to country; by the end of 25 years from now, I should expect the foreign use of the methods to have leveled off to one-fourth to one-half the peak level. Foreign service in geophysics does not seem to offer an attractive career, except for men of exceptional disposition. Young men just out of college, who are willing and who can afford to spend three or four years having a fling at adventure before settling down, will find it attractive, but when their tour of foreign service is over, they probably will have harder work finding a job than when they were seniors, and their foreign experience will count for little, except for further foreign service. A few men, mainly the higher men, will have headquarters at civilized or semi-civilized cities and towns or at permanent oil-company towns, and can

Jan 1, 1940

By Donald C. Barton

Geophysical methods of prospecting taken as a whole do not seem to offer much promise to a young man planning to enter them in the future. They have come to stay, to be sure, and they will continue in at least moderate use for a long time. Domestic use of those methods presumably is at a maximum at the present time. Geophysical prospecting is expensive; the effects of the law of diminishing returns in efficiency in finding prospects can already be recognized. Small oil companies, independent oil operators, and royalty buyers have been doing much geophysical work. But in face of the increasing costs of discovery of prospects and in face of the probably decreasing favorability of the prospects discovered, I expect to see a sharp drop in their use of geophysics within the next 10 years. The major oil companies and the larger small oil companies will continue to use geophysics indefinitely, but it seems doubtful whether the very extensive domestic campaigns of a few companies will be maintained for many years, certainly not for 10 years. The use of the geophysical methods in foreign countries has not yet reached its peak, and probaby will continue to increase for several years. That peak level of activity will probably be held for 10 years, although the site of maximum activity will shift from country to country; by the end of 25 years from now, I should expect the foreign use of the methods to have leveled off to one-fourth to one-half the peak level. Foreign service in geophysics does not seem to offer an attractive career, except for men of exceptional disposition. Young men just out of college, who are willing and who can afford to spend three or four years having a fling at adventure before settling down, will find it attractive, but when their tour of foreign service is over, they probably will have harder work finding a job than when they were seniors, and their foreign experience will count for little, except for further foreign service. A few men, mainly the higher men, will have headquarters at civilized or semi-civilized cities and towns or at permanent oil-company towns, and can

Jan 1, 1940

By H. D. Outmans

The author applies the theory of hydrodynamic stability to fluid flow in porous media and concludes that the displacement of miscible liquids is stable if the stability coefficient, as defined by Eq. 19.2 or Eq. 27.0, is positive. The conclusion is invalid, however, since it is based on a faulty argument. To demonstrate this, the reader is referred to Eqs. 4.1 through 4.5 of the paper which describe, in differential form, the first-order disturbances c, u, v, w and p. In these same equations, cx, cz, gl, g3 and are functions of the stable concentration c. This concentration c is known and depends on x, z and t (the author assumes cy = 0). It follows that cx, cz, gl, g3 and µ are also functions of x, z and t. With this in mind, we turn to Eqs. 8.1 through 8.5 which were derived from Eqs. 4.1 through 4.5 by substituting Eq. 6.0. The significance of this substitution is that the author thereby limits the solutions of Eqs. 4.1 through 4.5 to equations of the form of Eq. 6.0. Eqs. 8.1 through 8.5 represent an infinite linear system with five unknowns: c, u, v, w and p. The coefficients cx, cz, gl, g3 and µ in this system are known at each point and at each instant; the coefficients containing derivatives of f are unknown. If this infinite linear system in c, u, v, w and p is to have a nontrivial solution, then it is indeed necessary (as the author states) that the determinant of the coefficient matrix of Eqs. 8.1 through 8.5, i.e., ( A 1, be equal to zero. This condition, however, is not sufficient. A non-trivial solution exists if, and only if, the rank of the coefficient matrix of the entire infinite system is smaller than five. In other words. all minors of order five must vanish and only if all the coefficients in Eqs. 8.1 through 8.5 are constant is this equivalent to the condition |A| =0. Constant coefficients means that gl, g3 and µ, for instance, are constant; and, since they depend on c it follows that c must be constant. We conclude that the condition I A I = 0, on which the author bases his calculations, is necessary and sufficient for a nontrivial solution only if the concentration c is constant. In other words, the author does not investigate the stability of a miscible displacement but, rather, only the stability of the flow of a homogeneous liquid. Using the initial condition and the fact that the coefficients are constant, we find

By Donald B. Hunter

The Ti-Be system up lo 10 wt pct Be with cortlmercialll' pure titanium has been determined using metal-lographic techniques. Beryllium forms the p eutec-toid type of dinqarz with titanium; the eutectoid occurs at 0.5 xt pct Be azd 1500 F, while an eutectic is foritled at 1887°F containing between 5 and 7.5 rt pct Be. The solubility of beryllium in a titanium does not exceed 0.05 zvt pct and the maximum solubility of Beryllim in 0 titanium is 1 wt pet. PREVIOUS work on the Ti-Be phase diagram indicated that additions of beryllium to titanium resulted in a marked lowering of the melting point,''' and it was also observed that the solubility of beryllium in both a and p titanium was retricted.- With the limited data available, McQuillan and McQuillan constructed a partial hypothetical diagram of the Ti-Be system,= assuming that beryllium formed the 0 eutectoid type of system with titanium. Subsequently Bedford published a tentative diagram of the entire Ti-Be system: although he did not investigate alloys containing less than 10 wt pct Be. This diagram included several compounds described by other authorities.'-l3 The following account describes work directed toward determining the form of the titanium-rich portion of the phase diagram up to 10 wt pct Be. MATERIALS AND METHODS Titanium sponge and a master alloy containing 25 wt pct Be were used in the formulation of the alloys; the chemistry of these materials is detailed in Table I. The alloys were prepared as 250-g compacts which were melted into buttons by arc melting under purified argon on a water-cooled copper hearth. Results of analyses for beryllium are shown in Table I but no determination of other elements was made at this stage. The alloys were hot-rolled at 1650°F to produce 0.1-in.-thick sheet. Alloys containing up to 1.5 pct Be were fabricated without trouble; samples containing 2 pct cracked initially upon hot rolling, but thereafter rolled satisfactorily to sheet. The 5, 7.5, and 10 pct were hot short and could not be rolled. Surface contamination was removed from samples by sandblasting and pickling in a 5 pct HF-35 pct HNOs solution. For metal log raphic examination, heat-treated specimens were mounted transverse to the rolling direction, ground on silicon carbide papers of increasing fineness to 600 grit, and electropolished at 20 v using a solution containing 600 ml of methanol, 60 ml of perchloric acid, 360 ml of butyl cellosolve, and 2 ml of Solvent "X". Difficulty was experienced in obtaining good electropolished surfaces with samples containing more than 1 pct Be, the degree of difficulty in-

Jan 1, 1967

By Michael Hoch, Seong Kwan Rhee

The ternary system Zr-Cr-0 was investigated at 1200°, 1500°, and 1700°C. The isotherms at these temperatures were determined by metallographic and X-ray diffraction analysis of carefully selected alloys. AS a part of a series of investigations1-4 of the ternary and quaternary phase diagrams on refractory metals and their compounds, the ternary system Zr-Cr-O was investigated at 1200°, 1500°, and 1'700°C. The binary diagrams Zr-Cr, Zr-O, and Cr-0 as reported by Hansen5 and Levin et a1.' and the existence of a ternary coompound ZrsCrsO (q-carbide structure a. = 11.96A) provided a good base for this investigation of the Zr-Cr-O phase diagram. MATERIALS The materials used and their suppliers were: Zirconium powder, 99.4 pct pure, Charles Hardy, New York; Zirconium dioxide, Fairmount Chemical Co., Newark, N.J.; Chromium powder, 99.85 pct pure, Fairmount Chemical Co., Newark, N.J.; Chromium sesquioxide, 99.86 pct pure, J. T. Baker Chemical Co., Pillipsburg, N.J. Though the materials used were not "hyperpure", the impurities present do not affect the results (lattice parameters, phase boundaries) within the experimental accuracy. EQUIPMENT AND PROCEDURE The detailed procedures and equipment used for this investigation were similar to those described elsewherel' "ith the exception that in this study an induction-heated argon-atmosphere furnace was used. The latter furnace was used to prevent the vaporization of chromium metal in samples in the higher temperature range (above 1200°C). The tungsten crucible was induct ion-heated in a vertical quartz tube filled with argon gas. The quartz tube was 1-1/2 in. in diameter and 10 in. long; it was connected at the top and bottom to water-cooled copper plates. The argon gas of a purity 99.995 pct was further purified by being passed through zirconium metal chips which were maintained at 800°C in a silica tube 1 in. in diameter and 30 in. in length. The furnace was flushed with argon gas for an hour before starting heating; during heating, a slight (3 cm oil) overpressure of argon was maintained in the system. Power was supplied by a 20-kw Ther-Monic Induction Generator. The samples rested on a tungsten-wire basket; the wire basket was connected to a tungsten wire which passed through the tungsten crucible lid, and entered the system on top through a Wilson-type seal. By pulling on the wire, the sample was removed from the crucible and dropped to the water-cooled copper base of the furnace. Because of the presence of argon gas, the cooling of the sample was even more rapid than in the vacuum furnace.' EXPERIMENTAL RESULTS AND DISCUSSION 1) Isothermal Section at 1200°C. The compositions investigated have been numbered within the phase diagram, Fig. 1, and all the pertinent information about the samples can be found in Table I. This table lists the composition of the samples, the phases present in the room-temperature diffraction patterns, the phases detectable in the microstruc-ture, and calculated lattice parameters of the a-zirconium phase. The shapes of the various phase

Jan 1, 1964

By S. K. Sarkar, B. Dr. Singh

INTRODUCTION India like USA has traditionally relied on bord and pillars as dominant underground method. Coal has generally been mined at shallow depth from relatively thick and horizontally bedded coal seams. These' factors contributed towards large scale adoption of bard and pillar. After nationalisation of coal industry in two stages in 1971 and 1973, large scale mechanisation and modernisation programmes were undertaken. Longwall mining was identified as one of the major that area for increasing underground coal production. The idea to introduce longwall mining was mooted to increase productivity and to promote conservation and safety. The nationalised coal industry has already worked about twenty longwall faces with different types of support. The tempo of introducing longwall is catching up and a number of longwall programmes with, Self advancing supports of different types and Capacity are in active stage of implementation. The country has not yet started producing mechanised Supports and therefore supports and machineries are being imported from U.K. and other countries of the continent. The of the major problem faced in the longwall projects is to choose suitable type and capacity of supports. The suppliers and manufacturers of these supports are not competent enough to choose and offer the right type and capacity of supports as their knowledge and information about Indian strata conditions are extremely limited. The Central Wining Research Station (Q.!RS), has undertaken a research programme for evaluating the rock mechanical conditions obtaining in the proposed longwall locales and has worked out a method for selection of proper type and capacity of supports on the basis of projected strata behaviour at the proposed locale. STRATA CCNTROL FAILURES Indian coal industry had made some attempts to introduce longwall caving in the early fifties after a working group set up by the Government of India had recommended its adoption to increase productivity and to modernise mines. Approximately 20 longwall faces were tried in the major Indian coalfields of Jharia, Ranigunj and Karanpurr between 1951 and 1968. The supports used consisted of 20T hydraulic props or 35140~ friction props. A number of these faces had suffered total strata control failures and a large number of support elements were lost. The Central Mining Research Station initiated a research programme to analyse these failures in the general background of behaviour of Indian coal measure strata at longwall faces. All the available data regarding the cases of failures were collected and physico-mechanical properties of overlying roof rocks were determined in the laboratory. Simultaneously, observations were continued to establish the behviour pattern of Indian coal measure strata at longwall faces. These studies were helpful in analysing the occurrences of collapse. BEHAVIOUR OF INDIAN COAL MEASURE STRATA The coal measure strata encountered in the principal Indian coalfields of Jharia, Ranigunj and Karanpura are in general strong in nature however, the immediate roof (mostly up to 1.5 to 2 m) in most of the cases is weak and false bedded shale. MI idea about the strength properties of immediate and overlying roofs may be obtained from the following table.

Jan 1, 1982

The income of the Institute is derived from dues, subscriptions to Mining and Metallurgy and sale of publications. These sources are fortunately supplemented by the interest from invested funds now amounting to over $500,000, a considerable portion constituting endowments for especial purposes. Aside from the medal funds the principal endowments are the James Douglas Fund for support of the Library, the Rocky Mountain Fund and the Seeley W. Mudd Memorial Fund. The income from the two last named is available for the support of research and a variety of other purposes, It is allocated by the Board of Directors upon recommendation of standing committees in each case. An active effort is being made to increase the endowments of the Institute, it being felt that unusual opportunities exist for research and public and professional service through the organization and at a minimum of expense. J. V. W. Reynders is chairman of the Endowment Committee. Seeley W. Mudd Memorial Fund THE Seeley W. Mudd Memorial Fund, consisting of $100,000, was given the Institute in 1929 by the family of Colonel Mudd who had served the Institute as Director, Vice-president and on many important committees. His long career of distinguished professional and public service is fittingly commemorated by this fund. The income is available for support of research and other special purposes. In view of Colonel Mudd's life work with the nonferrous metals and his keen interest in the younger men of the profession it is purposed to apply the fund particularly to the benefit of these two. Control of income is exercised by the Board of Directors on recommendation of a Committee consisting of the President and Secretary, ex officiis, together with three others selected by the Board. The Committee consists at present of the following members: W. H. Bassett, President; H. Foster Bain, Secretary; Harvey S. Mudd serving until October, 1931; Edgar Rickard serving till October, 1932; George Otis Smith serving until October, 1933. On recommendation of this Committee the Board has authorized as a first project the preparation of a series of small books designed especially to be helpful to the Junior Members. These are now being written and it is hoped will be available for distribution in 1931. The list includes: A Brief History of American Mining, by T. A. Rickard; Mining Costs, Why and What, by Arthur Notman; Introduction to Mineral Economics, by H. Foster Bain and T. T. Read; Choice of Methods—A Record of Experience in Making Decisions, with chapters by W. H. Bassett, F. W. Bradley, E. DeGolyer, Howard N. Eavenson, A. B. Parsons, J. V. W. Reynders, L. D. Ricketts, Robert E. Tally, Pope Yeatman and others. One other book is projected but final selection has not been made. The purpose of these books is to afford the younger men who now come into a highly specialized profession some substitute for the broad

Jan 1, 1930

By W. S. Ayres

I. Introduction. This cavern was discovered Oct. 32,1904, by Mr. Charles 8. Deutschman, in company with whom I made, May 29 to June 3,1905, at the request of Mr. Howard Douglas, Superintendent of the Canadian National Parks, the first exploration of it for the Canadian government. The results were stated in a paper, orally presented, with lantern-views from my photographs, at the British Columbia Meeting of the Institute, Victoria, B. C., July 5, 1905.* The present paper embodies also the results of a second examination, made Oct. 25 to 29, 1905. The accompanging map, Fig. 1, will serve as a guide to the following description. 11. Location. The cavern is situated at snow-line, at the head-waters of Cougar creek, on the west slopes of the Selkirks, about 2 miles north from Ross Peak water-tank, and 5.5 miles west from Glacier station, on the main line of the Canadian Pacific Railway. It was then reached by an arduous climb from the water-tank, up the ravine of Cougar creek, for 8,000 ft. (2,000 ft. of altitude) over rock- and snow-slides, and through a thick tangle of alders. But an easy and very picturesque trail has, during the past summer, been opened by the government from Glacier station, which is also a hotel of the railway company. Figs. 3, 3 and 4 represent views, not heretofore published, of the grand scenery of this region, so rapidly becoming the object of attraction to thousands of tourists from all parts of the world. These views, as well as those shown in Figs. 5, 6, 7, 8

Jan 1, 1908

By Alan M. Bateman

POSSIBLE postwar trends of the more important world minerals will be determined in part by their present world position and by the acts and forces that have operated during the war period, so it is desirable first to review briefly what has been happening in the foreign field of metals and minerals. When we first entered this war we of the mineral profession were all acutely conscious of our lack of strategic minerals and other materials, which had to be imported in great quantities-minerals such as manganese, chrome, tin, mercury, nickel, and antimony. But we realized also that we had to acquire vast quantities of those minerals of which we had thought we were bountifully supplied. Our assumed domestic abundances turned out to be woefully deficient, and demands also arose for new minerals never before produced in large quantities. Some threescore minerals entered the strategic list of our imports. Ores from new sources had to be sought, developed, and transported. Tonnages in the millions of such bulk materials as zinc, lead, copper, chrome, and manganese flowed to feed our war efforts. Sparsely distributed minerals such as tin, mercury, antimony, tungsten, cobalt, mica, and corundum had to be lured from their rock lairs in greatly increased quantities to feed the hungry maw of war industry, and the rare minerals such as tantalite, columbite, beryl, and quartz crystals had to be developed and procured in quantities never before dreamed of. New uses such as radio and radar created demands for many minerals formerly thought of only as adornments of museum collections and not as pressing industrial minerals. Such minerals were never before mined in quantity.

Jan 1, 1945

By Frederick Bacorn

THE paper of Reno H.. Sales on Ore Deposits at Butte, Mont.,' is a careful and painstaking work, an important contribution to the literature of the subject. As is almost inevitable in a work of such magnitude, a few misstatements occur; and some of these I shall endeavor to point out. Mr. Sales has also fallen into error, as I think, in the application of his theory of ore deposition; and while the modification which I venture to suggest is a minor one geologically, it is of great economic importance. I refer to Mr. Sales's idea of an outward migration of mineralizing solutions from a supposed central copper zone. In order that I may make myself plain, I must first epitomize the theory as a whole, which I understand to be this: All of the Butte ore deposits (save those along the Continental fault, not herein considered) are derived from solutions of magmatic origin, which, at the beginning of their ascent from a great depth, were, acid in reaction, hot, and were carriers of copper, zinc, manganese and other metals. As they departed from their point of origin they lost heat, and, because of reactions with the wall rock, became more and more alkaline. The metal deposited from these solutions in their hot condition was principally copper; and, as they cooled, they deposited less and less copper and more and more manganese and zinc, until the copper practically disappeared. With this theory in general I have no fault to find, nor have I, it must be stated, the qualifications necessary to enable me to pass upon it critically; but it seems to me to be reasonable and probable, and is one which I am quite willing to accept.

Jan 8, 1914

The Library belonging to the Institute is now administered as part of that of the United Engineering Society, the members of the Library Committee representing the Institute on the Library Board of the United Engineering Society. The main collection now consists of 115,900 books, 3680 pamphlets, 5811 maps, and 4402 searches, making a total of 129,793, a net gain of 7701 within the year. There is in addition a lending collection of 1004 volumes and one of duplicates amounting to 11,310. The library grows steadily both by gift and purchase. The cataloging is now substantially current covering 124,100 items represented by 362,145 cards. There are many rare and notable books, especially those relating to early engineering. It is truly a great treasure house of knowledge. While no severe effort is made to record all visitors the books showed 23,470 to have used the Library in 1928. In addition 5102 telephone requests for information were answered, 202 searches and 196 translations made and 34,964 photo prints furnished. The service department is maintained by small fees which cover the cost. The total amount appropriated for operating expense for the year was $46,300, of which $8,240.02 was furnished by the Institute, $5,399.45 being derived as income from the Douglas Library Fund and the remainder from current receipts. Within the year a slight change was made in the method of meeting the expenses of the Library, a flat charge of $5,000 per year being made against each of the four Founder Societies and this being supplemented by a surcharge based upon membership. The effect of this has been for the present to decrease slightly the amount that the Institute would otherwise need to pay. Placing in one collection all the books of the four societies greatly increases the number of books accessible to the members of each and opening the Library to the public is an important factor in keeping the tax exemption privilege enjoyed for the building. The Director and Staff of the Library make every effort not only to accommodate those who come in person to consult the collection but members resident elsewhere who communicate by letter or wire. The facilities of the Library are truly available to all.

Jan 1, 1929

A cooperative service for engineers and their employers under the direction of the American Institute of Mining and Metallurgical Engineers; American Society of Civil Engineers; American Society of Mechanical Engineers; and American Institute of Electrical Engineers, and with the cooperation in Chicago of the Western Society of Engineers, and in San Francisco of the California Section of the American Chemical Society and the Engineers Club of San Francisco. For information as to men available or positions open, address the nearest office.

Jan 1, 1923

By AIME AIME

THE iron and steel activities of this meeting opened on Monday morning with the steel melting session," with G. B. Waterhouse in the chair and A. L. Feild as vice-chairman. N. A. Zeigler's paper, on "Gases Extracted From Iron Carbon Alloys by Vacuum Melbing," created considerable interest and the discussion in general was most favorable. H. W. Gillett and Louis Jordan of the Bureau questioned the method of analysis for oxygen and C. H. Herty, Jr., and J. M. Gaines, Jr., I , expressed their surprise at the large amount of oxygen with the high ,carbon alloys. Whether the gases found existed as gas in blowholes or as oxide inclusions was also a moot point. A paper by C. D. King, on "Basic Open-Hearth Yields," was an extremely interesting and valuable contribution. It was discussed by C. E.Kinney and A. L. Feild and numerous questions were asked throughout the presentation. Mr. King then presented a critical analysis of the losses together with novel methods of calculating them. A paper by C. H. Herty, Jr., and J. M. Gaines, Jr., on "Unreduced Oxides in Pig Iron and Their Elimination in the Basic Open-Hearth Furnace," followed. The question of silicates and oxides in pig iron created much discussion, notably by Henry Hanson and W. J. MacKenzie, who gave figures on chipping cost as a function of blast-furnace practice.

Jan 1, 1929

By AIME AIME

SOME 65 members of the Institute, including most of the Local Section delegates and several Directors and officers, were on hand for the Annual Business Meeting of the Institute held in the Engineering Societies Building on Monday, Feb. 21, at 4:30 p.m., immediately following the second session of the Local Section Delegates Conference. President Mathewson presided. The meeting was largely taken up with the presentation of committee re- ports, discussion of which was invited. F. E. Wormser presented the report of the Admissions Committee ; Philip Kraft, Papers and Publications Com-

Jan 1, 1944

INTRODUCTION The meaning of cash flow has already been defined as after-tax earnings available for use by the corporation or business. It is therefore apparent that a significant part of mineral economic evaluation is concerned with correct and accurate computation of taxable income under existing tax laws, and the proper treatment of tax allowances and deductions. The various methods of depreciation, depletion, and amortization are all means whereby the investor can earn back or recover, before taxes are imposed, the investments made for purposes of doing business or for the production of income. Each of these three types of tax deduction are applied to different investment items such as property, equipment, buildings, research, etc. The cost of buildings, equipment, machinery, and transportation equipment are representative of capitalized business costs that must be recovered by depreciation over the life of the asset. The property investment costs of acquiring natural resources such as minerals, oil and gas, and standing timber are examples of investment costs that may be recovered by depletion. Several other capitalized business costs, such as research expenses and trademark expenses, may be recovered by amortization. The term "capitalized" means that the in- vestment cost is not deducted as an operating expense in the year that it is incurred, but is spread out over a period of years through depreciation, depletion, or amortization deductions according to lawful schedules. Of course, any capitalized cost can only be deducted once. The other costs of doing business which are not capitalized, such as labor and operating costs, are said to be "expensed," i.e., they are written off for tax purposes in the year they occur. DEPRECIATION Depreciation, according to US tax law, is a deduction from taxable income permitted as a "reasonable allowance for the exhaustion, wear and tear of property out of its use or employment in a business." The original cost of the property is the usual basis for determining depreciation. Since depreciation write-off is applied over the useful life of the asset, the first step is to determine the estimated useful life or its allowable depreciable life. These two lives may or may not be the same. No average life is applicable to all types of depreciable assets under different conditions or in different types of business. It is the taxpayer's responsibility to determine the useful life of the asset according to his own operating conditions and experience, within the guidelines set by the US Internal Revenue Service (IRS). The Class Life Depreciation Range (ADR) System permits the taxpayer to choose from a range of depreciable lives at 20% below or above the present guideline life. The second step required in calculating depreciation is to determine an estimated salvage value for the asset. The salvage value is an estimate, made at the time of acquisition, of the amount of money which can be realized by the sale of the asset at the end of its useful life. The four depreciation methods most widely used in the US are: (1) the straight-line method, (2) the declining balance method (double declining balance), (3) sum of the years - digits method, and (4) units of production method. Straight-Line Depreciation Method The straight-line depreciation method is the simplest for calculating depreciation. The depreciation for each year is determined by subtracting the estimated salvage value from the first cost of the asset and dividing the result by the years of life. The method gives equal annual deduction over the depreciable life. Salvage value equal to or less than 10% of the first cost may be ignored. [first cost - salvage Straight line = years of life ] Declining Balance Depreciation Method Declining balance depreciation, or double declining balance (DDB) as most frequently applied, is used for accelerating depreciation in the early years of the asset and is the fastest depreciation method allowed by the US Internal Revenue Service. The declining balance

Jan 1, 1980

By Elton A. Youngberg

The Holden mine operated by the Chelan Division of the Howe Sound Co. is on the east slope of the Cascade Range in north central Washington on the south slope of Railroad Creek valley at an elevation of 3500 ft. The mine may be reached by a 40 mile boat trip from the town of Chelan which is at the southern tip of Lake Chelan, to Lucerne at the mouth of Railroad Creek and an 11. mile bus ride up Railroad Creek to Holden. A11 freight and concentrate is moved over this route to Chelan Falls on the Columbia River which is on the railroad four miles below the town of Chelan. The mine is now producing 2000 tons of gold, copper, and zinc ore per day which is treated in the Holden mill. Gold-copper and zinc concentrates are made, the first of which is shipped to Tacoma, Wash., and the latter to Kellogg, Idaho, for smelting. Ore is broken by long-hole blasting using the Noranda system which has been modified to meet local conditions. Until recently, blastholes have been drilled by diamond drills. Now a partial substitution of percussion drill holes, drilled with tungsten carbide insert bits, is being made. Geology The ore body occurs as a replacement deposit in a highly metamorphosed series of sedimentary rocks, mainly gneiss and schists, in a shear zone several hundred feet in width and of undetermined length. Commercial ore has been found in mineable widths of 25 to 100 ft for approximately 2500 ft along its strike. The commercial minerals are chalcopyrite, sphalerite, and gold. During the period of mineralization considerable silicifica-tion took place giving the ore an abrasive drilling characteristic. Following the period of mineralization, numerous dikes were introduced into the ore body. The earlier ones were of granite composition having a width of a few inches up to 80 ft. These were followed by much younger, fine grained basic dikes which usually do not exceed 2 ft in width. Development of Percussion Blasthole Drilling Equipment Test work with the 1½-in. tungsten carbide bit was carried on in development headings for several months early in 1947. The short life of the bits, because of gauge loss caused by the abrasive nature of the rock, prevented its adoption for this use. However fast drilling speed and ability to drill a long uniform hole suggested its use for drilling blastholes in competition with diamond drills as diamond costs were steadily increasing and exper-ienced drillers were difficult to obtain. The 1½-in. bit was the largest available at the time initial test work was started with sectional steel. The 1½-in. hole limited the diameter of the steel thread and coupling which could be used. Type F couplings were first used but because of the small thread section excessive breakage of the steel was experienced. Type H couplings were tried next. In order to use this coupling which is 15/8 in. in outside diameter, it was reduced to 1 3/8 in. giving 1/8 in. clearance between the coupling and the hole. Rod breakage at the thread was substantially reduced but some coupling breakage was experienced, however the overall performance was considered satisfactory (see Fig 1 for illustration of coupling and thread). Early test work with the 1½ in. bit indicated machines of piston diameters larger than 255 in. would cause inserts to loosen or break. It was found however that the additional weight of the sectional steel cushioned the blow enough to prevent bit failures when 3-in. Leyners were used. Rods used with the 1½-in. bits were 7/8 in. q. o. for sectional steel and 1 in. q. o. for all chuck pieces. In May 1948, 2-in. tungsten carbide bits became available and test work was immediately started. The 2-in. hole approximated the AX (1 15/16 in.) diamond drill hole which was being used exclusively for blastholes and permitted their substitution for diamond drill holes in a ring without alteration of pattern, burden, or explosives. The 2-in. bit also gave room in the hole for larger couplings and permitted the use of heavier rods and 3½-in. machines, increasing the

Jan 1, 1950

By H. B. FERNALD

THE first year to which the Revenue Act of 1936 has applied is now passed. It is appropriate to try to give some calm thought to the plan of Federal income taxation as now imposed and what it will mean to the business and industry of the country if this plan of taxation is continued unchanged. Whether or not we like to pay these taxes is beside the point. Taxes are high and may be expected to be high for many years. The important question is whether the taxes to be imposed will destroy or injure business enterprise and development, and, in so doing, lower the standards of employment, living, comfort, and welfare of our people. The power to tax is the power to destroy. That destruction may come suddenly as a cyclone, or slowly as dry rot. What, if any, features are there in the present plan of Federal income taxation that have these destructive tendencies? A few of the points follow that seem to call for consideration.

Jan 1, 1937

By R. E. Cech

Particles -3 to 30 µ diam of a 29.5 pet Ni, 70.5 pet Fe alloy after being melted and solidified while falling through a hydrogen atmosphere were found to contain a distortion-free body-centered-cubic phase. In most particles, the amount of body-centered-cubic phase approaches or equals 100 pet. It was shown by a series of experiments that this phase forms directly from the liquid. It is pointed out that a mechanism previously suggested in recent papers on the theory of the liquid-solid transformation can account for the solidification of body-centered-cubic phase in a temperature range where face-centered-cubic is the stable phase. IN the course of an operation to produce powders for a study of the martensitic transformation in Fe-Ni alloys, an unexpected phenomenon was observed. Powders of a 29.5 pet Ni alloy, which has a subzero M, temperature, were found to contain considerable amounts of a body-centered-cubic phase at room temperature. The experiments to be described were designed to elucidate the mode of formation of this unexpected phase. Experiments and Discussion An alloy containing 29.5 wt pet Ni, balance iron, was vacuum melted from high purity electrolytic iron and carbonyl nickel shot and solidified in the crucible. The metal was converted to oxide, ground to 100 pet <37µ, pressed to a cake, and homogenized 20 hr at 1350°C. To insure homogeneity the grinding, pressing, and homogenizing heat treatment was repeated a second time. The oxide was then ground to 100 pct <37µ and hydrogen reduced at 500°C. The reduced powder was given a spheroidizing treatment to produce spherical cast particles. The treatment consisted of dispersing the particles in hydrogen and allowing them to drop through a vertical hydrogen furnace set to a temperature higher than the liquidus of the alloy. This operation, commonly known as shotting, has been described more fully elsewhere.&apos; The powder produced by this method was found to contain approximately equal parts of body-centered-cubic and face-centered-cubic phases. A magnetic separation technique, previously described,&apos; was applied, and it was found that particles were either completely face-centered-cubic or nearly completely body-centered-cubic. The microstruc-

Jan 1, 1957