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By J. Parke Channing

The Miami orebody occurs in an altered Pinal schist. It is popularly known as one of the '(porphyry " deposits but, as at Inspiration and Ray, the ore is an altered mincralized Pinal schist. The orebody mined is the zone of secondary enrichment. Speaking in general terms, the area of the orebody at Miami may be considered as 1000 ft. long and 800 ft. wide. The vertical thickness varies from 200 to 400 ft., so that it is an extremely irregular mass. The study of the ground movement and resulting subsidence at Miami is complicated by the fact that the formation is not homogeneous throughout the mining area, the orebody terminating on its eastern extremity at a fault plane adjoining the Gila conglomerate. This conglomerate is a recent sedimentary deposit somewhat analogous to glacial drift and consists of boulders of granite, schist, and other material cemented with clay, and at times is quite hard. The fault dips eastward at an angle of 45". The original method of mining was top slicing, the slices being 10 ft. thick. At first, there was a good deal of experimenting with mining methods. Some undercut rooms were tried, and the stopes were filled with broken ore with the idea of removing intervening pillars by top slicing. The adoption of the top-slicing method in itself involved considerable experimenting, including some experiments with a long-wall system. The method finally adopted involved the operation of top slicing areas 250 ft. square, each with a central supply raise and ore-gathering raises, each block being worked as a unit. Mining operations in the Captain orebody, which connects with the boundary of the Inspiration property, were started by the room-and-pillar system, the rooms extending across the orebody, with widths of 10 to 15 ft., with 15- to 10-ft. pillars between. The intent was to operate the rooms as shrinkage stopes, permitting the pillars to crush when the ore was drawn from the rooms. It was found that the shrinkage stoping was unnecessary, so a system of block caving was adopted. This system was so successful in the Captain orebody that, about three years ago, the method of mining in the orebody was changed from top slicing to block caving, the method now in use. The block caving system, as practiced

Jan 1, 1923

By G. D. Tranter

The importance of ladle and teeming practice and its relationship to the yield and quality of the product has focused considerable attention on this phase of open-hearth operation. Inherently bad steel cannot be perfected by manipulation during teeming, but through the proper handling of "off heats" serious losses, which in many cases arise, can be greatly minimized. Conversely, good steel can be ruined as a result of poor workmanship in the pit, and rendered unsuitable for application to orders where exacting surface and physical requirements are essential. Sufficient evidence has been secured to warrant careful investigation of pit operations when an abnormal number of basic defects develop in the semifinished product or are found on the inspection table. This paper is written from the standpoint of the problems involved in making satisfactory ingots for sheet rolling. Furthermore, since rimming steel is almost universally used for manufacture of sheet, the data presented herein refer particularly to that type of steel. Going back some 30 years in open-hearth history, the word "pit" properly described the hole into which the ladle was lowered to receive the metal tapped from the furnace. The working space was necessarily limited, and the disposal of slag and metal overflowing the ladle or lost because of breakouts presented a serious problem. The equipment, of course, was rather crude in the light of present-day development. Often no ladle stands were provided, the ladle being hung on the crane beneath the runner. When delayed taps occurred, the ladle was often held in position for many hours, thus tying up pit operations and causing delays to adjacent furnaces. Because of crowded conditions, slag thimbles were not used and a network of cast-steel triangles and old tapping bars, placed before the heat was tapped, was the means for removing slag from the hole. Furnaces of different capacities were used

Jan 1, 1935

By Newell G. Alford

At its meeting in the fall of 1937, the Executive Committee of the Coal Division considered the growing scarcity of young engineers entering coal mining with serious intentions. This scarcity was the cause of considerable alarm and a committee consisting of C. T. Hayden, E. A. Holbrook, C. E. Lawall and L. E. Young, with the writer as chairman, was appointed to gather factual data on the current trend. A questionnaire1 was designed and mailed to the heads of the 60 mineral technology schools listed by Prof. W. B. Plank in his article in September 1937.2 Replies were received from 46 institutions, not all from heads of coal-mining courses but all from men that at one time or another have had experience with some kind of coal-mining curricula and know current student impressions. Our committee is indebted to all of these gentlemen for their cooperation. Our committee hoped by this means to quickly reach the root of the trouble and make a set of comprehensive recommendations to the Coal Division for relieving the industry immediately from the growing dearth of youth who yearn for coal-mining careers, but the condition is more serious than at first diagnosed. We must now refer the question back to the Coal Division, with the recommendation that the Division get the industry's permission for still another major operation on its frame of mind. In addition to 10-year statistics on the first pay received by graduates in coal mining and other technical work, we requested enrollment data for 20 years from all schools with either mining engineering or mineral technology curricula. Nine leading questions were also plied, as shown in the Appendix. Every one of the answers was significant and interesting. Fortunately, we encountered positive frankness that was extremely helpful.

Jan 1, 1938

By Foster Fraas

Most commercial electrostatic separators utilize the electrical property of conductivity, but although based on the same principles, they are constructed in a variety of forms, a common one being the simple roll type. Some information obtained during an investigation of that type of separator, and which indirectly is applicable to other types, is presented here. In Fig. I material discharged from hopper 6 is fed onto grounded rotating roll 2. Electrode 3 is at a high electrical potential with respect to roll 2, and any conductive particle in contact with roll 2 therefore acquires an electrical charge of such polarity that, when present in the electrical field, the force on it is in the direction of electrode 3. A detailed description of the charging by conductance as utilized in electrostatic separators may be found in a previous publication.' As a result of this force, the path of the projected particle is changed in increasing amounts in the direction toward region C as the magnitude of the charge is increased. With the dividing edge 4 the projected particles may be divided into two fractions —those in region C designated as "deflected" or"deflectant"and those in region B designated as "residue." When material is passed over the roll only once, a complete separation is seldom obtained, therefore most commercial separators contain several roll-separator units in series, and some practical machines use as many as I2. In this paper a "pass" means the passage of material over a single-roll unit. The procedure is to repass either residue B with a low potential on electrode 3 or deflectant C with a high potential on 3. Most electrostatic separations follow a flowsheet of roughing and cleaning either the concentrate or the tailing, or both. In a specific instance, a dry, heated mixture of wet cleaned chromite and garnet from an

Jan 1, 1943

By L. H Levenson, Charles S. Barrett

The orientation of metal crystals and grains, both large and small, can be detcrmined conveniently and accurately without the use of X-ray apparatus. This seems to be appreciated by so few metallurgists that it may be useful to explain in detail the method we have found most satisfactory in the laboratory—the reflection of light from crystallographie etch pits. This note includes a description of a suitable inexpensive instrument and instructions for etching various metals and for plotting the data. As the stereographie projection is used to facilitate handling the data, this note may he considered as an appendix to an earlier review of the metallurgical uses of the stercographie projection.' Various methods involving etch pits have been used by other investigators. Bridgman's method2 consists of attaching the specimen to a sphere (a transparent sphere is convenient4 , holding it at arm's length, and marking a spot on it when it has been turned so that the eteh pits reflect light into the eye of the observer from a lamp standing behind him. It has an accuracy of about 2" and is extrernely rapid. A greater accuracy can be obtained by having the reflected light fall on a screen, as has been done by Czochralski,5 Chalmers,6 and Schubnikov.7 All of these methods have been intended for undeformed single crystals. Tammann and his coworkers3,8 developed a method for estimating the number of grains in a polyerystalline aggregate having orientations in a given region of the stereographic triangle and thus obtained statistical information about deformation and reerystallization textures. While the method has had some use in recent years,9 it is not applicable to the majority of problems in physical metallurgy. Smith and Mehl10 determined orientations by plotting the directions of the sides of individual etch pits on a stereographic projection. The accuracy is limited to about 3" and the method requires careful polishing and high magnification.

Jan 1, 1940

By George R. Mansfield

Interest in the reserves of phosphate rock in the United States and their proper conservation has recently been aroused by hearings held in different parts of the country by the "Joint Committee to investigate the adequacy and use of phosphate resources of the United States." This committee was appointed within a few days after a Presidential message to Congress on the same subject, dated May 20, 1938, and began to function almost immediately. Hearings were held in Washington, D. C., Pocatello, Ida., Wilson Dam, Ala., Knoxville, Tenn., and Lakeland, Fla. The resulting testimony, when published, comprised a volume of 1182 pages.l At the earlier hearings held in Washington and Idaho the seeming disparity between the great reserves of the West and the smaller reserves in the East led to some suggestions as to the desirability of curtailing or even prohibiting the exportation of phosphate rock so that eastern producers, becoming alarmed, cooperated in making available for the use of the committee information hitherto closely guarded. This information has provided an opportunity for new studies by official agencies, for a restatement of the reserves of Florida and Tennessee, and for some modification of figures for the Western States. The writer, representing the Federal Geological Survey, was given free access to the Florida material and has prepared for publication a report,² some features of which are summarized in this paper. The Tennessee material was studied by Dr. G. I. Whitlatch,³ of the Tennessee Division of Geology. Prof. J. Stewart Williams,* of the Utah State Agricultural College at Logan, has published a recent study of the phosphate resources of Utah and the writer has given some further study to reserves of western phosphate from the viewpoint of including material of lower grade than that hitherto considered. Technologic advances in the phosphate industry must be credited with a large share in the expansion of reserves by making available for

Jan 1, 1942

By David A. Keys

Applied geophysics is the youngest child of that old branch of learning that has been known from Aristotle's time as physics—the constitution and laws of nature. The mother science, with the help of mathematics, has given birth to many children, who, on becoming of age in the scientific sense, wedded more practical applications which later became known as electrical engineering, physical chemistry and acoustical engineering. Some vigorous sons still retain the family name, among which the most recent to take its place as a division of science is geophysics, which deals with the physics of the earth. Geophysics in its broad sense has many departments—meteorology, oceanography and seismology, to mention only three. Within the past 20 years, however, a special interest has arisen in the application of physical principles to problems in geology, mining and civil engineering, with the consequent rapid growth of what has now been called "applied geophysics." Applied geophysics in this narrower sense is the application of experimental and theoretical physics to determine variations and discontinuities in underground structures that cannot be ascertained from surface inspection. It seems evident, then, that the physics department is the natural place in a university where the principles and methods involved should be taught and developed, for the physicist will also have had the requisite training in mathematics that the proper understanding of many methods now used will require. A knowledge of the procedure and principles, however, is not sufficient for the successful application of geophysical methods. One may know the dynamics of flight of golf balls and of impact and yet not play a par game of golf! The proper selection and use of the right club to suit the circumstances of the lay of the ball and an acquaintance with the possibilities and limitations of the strokes as well as the practical execution of the play is essential to a successful game. So, also, in the application of geophysical methods, it is important for the geophysicist to use the best device under the conditions presented, to know the limitations of the conclusions deduced from his physical measurements and to make the proper interpretation of the results. A knowledge of geology will be of great aid in coming to the correct con-

Jan 1, 1940

By Sylvain J. Pirson

The main value of earth magnetic measurements, outside of certain mining problems, resides in the study of deeply buried tectonic phenomena related to regional and local geology. Magnetic surveys are a necessary complement of gravimetric measurements, especially of pendulum surveys. To date, magnetometer prospecting has been used chiefly in the study of sedimentary basins where petroleum structures are associated with the uplifted basement rocks. There are, in the literature, innumerable articles dealing with such surveys as applied to oil geology but few treat of broad geological features related to regional magnetic disturbances of the earth field. An important piece of coordination work has been made by Jean Jungl for the magnetic and gravimetric measurements made in France and their geologic significance. A similar attempt at correlation of the known geology with the anomalies of the vertical component of the earth magnetic field has been made for the United States by George B. Somers2. Taking the magnetic vector as a whole, W. P. Jenny3 made a coordination of magnetism and geology for the main producing oil states of the United States. A more detailed study along the same lines is published by A. Van Weelden4 for southern Oklahoma and northern Texas; in this work magnetic and gravimetric measurements taken at stations as close as one mile apart are compiled and compared to the regional geology of the Ouachita-Amarillo uplifted area. From the literature mentioned, it is evident that reliable interpretation of magnetic' anomalies can be arrived at only when the magnetic stations are numerous and cover the area in a close net of measurements, therefore the works of Somers and Jenny, based on sparsely distributed Government measurements, can be regarded only as preliminary programs indicating lines along which further work should be done, whereas the coordination made by Van Weelden is an example of the contribution to the knowledge of regional geology that can be arrived at by the use of applied geophysics. With the hope that further systematic magnetic measurements will be carried on to solve regional and local geological problems, the author

Jan 1, 1940

By R. C. Ferguson, Harlowe Hardinge

Laboratory and plant data covering 12 different operations show that lower than "standard" ball mill speeds increase grinding efficiency. In the case of high pulp-level mills, the gain is so great that the increase in capital cost of the larger lower speed mill will pay for itself in less than a year's time. THE object of this paper is to show the economic advantage of operating ball mills at relatively slow speeds. Although many operators know that grinding costs are reduced by operating mills at low speeds, they seldom do so for a variety of reasons. When capital is limited, first cost is of primary importance, and installation of the less costly, highspeed mill is favored. When materials are in short supply, as during a war period, capacity rather than economy is the primary consideration. Existing mills are then speeded up to provide the desired increase in capacity, and new mills are purchased without consideration of maximum grinding efficiency. When the mill speed is increased to secure more production, the increase in grinding costs is often obscured by the total benefit derived from the additional output. This increase in grinding cost is seldom recognized as being sufficient to be worth correcting. For these reasons one may be lead to the erroneous conclusion that slow-speed operation is only occasionally applicable. The effect of mill speed on grinding efficiency has been studied in laboratory tests."! The results of some of these tests are given in tables I and I1 and fig. 1. In these tabulations, batch tests using ore charges of 125 to 200 lb were considered comparable to high pulp-level operation and charges of 50 to 100 lb comparable to low pulp-level operation. For the high pulp-level operation, these tests indicate the existence of a maximum in efficiency for operation at a speed of 50 pct of critical, both for the soft (dolomite) and hard (chert) ore. In low pulp-level operation, a decrease in speed increases the efficiency of grinding dolomite; no maximum of efficiency appears in the range of speeds tested. The results with chert were inconclusive. If the performance of large mills is indicated

Jan 1, 1951

GEORGE F. KUNZ, New York, N. Y. (written discussion*).-We have been informed that the nickeliferous ores of Sudbury could furnish more palladium than the whole of the present world supply, together with a large amount of platinum. As the quantity of ore melted in Sudbury in 1916 totaled 1,521,689 tons, giving 80,010 tons of matte, and as the average of 3 years, up to 1915, are stated to show an average of 0.10 oz. of platinum and 0.15 oz. of palladium per ton of matte, this would indicate the presence of 12,000 oz. of palladium and 8000 oz. of platinum in the ore mined in 1916.1 Interest in the platinum situation is now more intense than it has ever been, and the great importance of this metal for many special uses is being increasingly appreciated. For munition manufacture, for chemical apparatus, in dentistry, and for jewelry, it has been and continues to be in great demand in spite of the phenomenal rise in its value. It is true that this has necessarily led to a search for substitutes, especially for dentistry and chemical uses, but while some of these have been found to answer the needs fairly well, for many 'other purposes platinum is still employed in spite of its great cost. As to the jewelry industry, the most public-spirited efforts have been made to restrict its use, and its employment in the manufacture of watchcases, purses, bracelets, and catches has been abandoned, gold being used in its place. The prime cause of the present shortage is, of course, the elimination of 'the Russian supply which, in normal times, constituted probably more than 90 per cent. of the world's production. This makes an intensive

Jan 4, 1918

By George R. Mansfield

Interest in the reserves of phosphate rock in the United States and their proper conservation has recently been aroused by hearings held in different parts of the country by the "Joint Committee to investigate the adequacy and use of phosphate resources of the United States." This committee was appointed within a few days after a Presidential message to Congress on the same subject, dated May 20, 1938, and began to function almost immediately. Hearings were held in Washington, D. C., Pocatello, Ida., Wilson Dam, Ala., Knoxville, Tenn., and Lakeland, Fla. The resulting testimony, when published, comprised a volume of 1182 pages.l At the earlier hearings held in Washington and Idaho the seeming disparity between the great reserves of the West and the smaller reserves in the East led to some suggestions as to the desirability of curtailing or even prohibiting the exportation of phosphate rock so that eastern producers, becoming alarmed, cooperated in making available for the use of the committee information hitherto closely guarded. This information has provided an opportunity for new studies by official agencies, for a restatement of the reserves of Florida and Tennessee, and for some modification of figures for the Western States. The writer, representing the Federal Geological Survey, was given free access to the Florida material and has prepared for publication a report,² some features of which are summarized in this paper. The Tennessee material was studied by Dr. G. I. Whitlatch,³ of the Tennessee Division of Geology. Prof. J. Stewart Williams,* of the Utah State Agricultural College at Logan, has published a recent study of the phosphate resources of Utah and the writer has given some further study to reserves of western phosphate from the viewpoint of including material of lower grade than that hitherto considered. Technologic advances in the phosphate industry must be credited with a large share in the expansion of reserves by making available for

Jan 1, 1942

By Donald R. Lessard

I. INTRODUCTION There is no question that the choice of an appropriate discount rate is a critical element in virtually all business decisions in extractive industries. The standard textbook approach relies on a single overall cost of capital for an entire firm, itself a weighted average of the firm's cost of debt and equity. But a single rate is appropriate only if the commercial risks and financing structures are similar for all projects under consideration. In extractive industries, appropriate discount rates are likely to vary greatly from project to project. Risks of projects differ markedly by mineral, by country in which the project is located, by stage in production, and by position in the project's life. Further, for a variety of institutional reasons, financing structures vary greatly in relation to these same variables and thus the discount rate appropriate to the entire investment and, in particular, to the sponsor's equity investment will vary even more markedly. Failure to select discount rates which reflect these differences can result in extremely distorted decisions. Our interest in this subject results from our ongoing research on alternative ownership and financing structures for large scale extractive ventures in less developed countries where risks to the various participants--the sponsors, the financiers, and the host government--vary dramatically with the different options. Given the magnitude of these differences, a single discount rate for all options is clearly inappropriate. However, there appear to be few guidelines for practicing managers to follow in setting appropriate rates. In this paper, we take a first step in this direction.

Jan 1, 1977

By G. Pomey

Heat-resisting chromium steels and alloys treated at 825° or 9.50°C (1527° or 1742°F) in a carburizing atmosphere exhibit an extensive carbide precipitation. This carbide precipitation may be succeeded by the FeCr a phase or by a carbide with a higher carbon content. Point analyses carried out with an electron mi-croanalyzer make it possible to study the depletion of chromium in the matrix after precipitation has occurred and to determine the chemical composition of carbides. In particular the content in the carbides of Fe, Ni, and W, elements which substitute Cr, can be accurately determined. HEAT-resisting chromium steels and alloys employed in the construction of gas carburizing and carbonitriding furnaces are subjected to a succession of oxidizing atmospheres during heating and cooling and to carburizing atmosphere during isothermal stage. Such a sequence of thermal cycling causes embrittlement and corrosion in the furnace materials. A quantitative study of the structural changes induced in the furnace materials has not received much attention in the past. However, utilization of the electron probe microanalyzer and other modern techniques has permitted a point analysis of the various phases formed and to follow their relative evolution. This paper gives results as regards the nature and composition of the carbide precipitation and the distribution of chromium in the matrix during only the carburizing periods. The structural changes subsequently produced during oxidizing periods will be presented eventually. METHODS AND MATERIALS Metallographic, X-ray diffraction and Castaing electron-probe microanalysis1 techniques have been employed to study carbide precipitation and evolution and the changes in the composition of the matrix in heat-resisting steels and alloys.

Jan 1, 1961

By Ole Singstad

THE legislatures of New York and New Jersey, determined in 1919 that a vehicular tunnel should be built under the Hudson River. On July 1, 1919, an engineering staff was organized with the late Clifford M. Holland as chief engineer, and this staff was given a number of problems to solve, such as location, size, type of tunnel, method of construction, method of ventilation and cost. After a period of preliminary investigations and studies it was decided to build the tunnel at Canal St., New York, connecting 12th St., Jersey City. This is the center of the heaviest traffic across the Hudson River. It was also decided to build two tunnels-one for west-bound traffic and one for east-bound traffic-the tunnels to be of cast iron, built up of segments and bolted together, each tunnel to have a roadway 20 ft. wide and a clear heat room of 13 ft., 6 in. This is to provide for two lines of vehicles in each direction. The tunnels have an exterior diameter of 29 ft., 6 in. The interior lining is of concrete, the sidewalls tiled with a vitreous white tile and the roadways paved with granite block. The entrances and exits at both ends are separated by two blocks so as to reduce traffic congestion.

Jan 8, 1926

By L. Ibagos S., T. Balberyszski

The volumetric flow rate and the initial concentration of the copper sulfate solution influence the rate of reaction and, hence, the precipitation efficiency in a continuous launder cementation system. Using a model of such a system it was found that the precipitation efficiency is related to the two process parameters by the approximate expression [ log [1-n] = -[0.072 co 2.91 e – 0.511c o Q 1.15 ] N Q] where c is the initial concentration, Q, is the volumetric flow rate and N is the number of launders in the system. This expression agrees with an equation developed for the rate of the cementation process if it is assumed that the exponential factor represents the change in the surface area with concentration and the exponents 2.91-and 1.15 relate the hydrodynamic conditions and the surface concentration to co and Q. The experimental results are used to determine the values of a Precipitation Coefficient for any volumentric flow rate and initial concentration of solution. Knowing the Precipitation Coefficient, the total volume of launders that will result in a given precipitation efficiency can be calculated. It is established that maximum precipitation efficiencies are obtained for initial concentrations between 6.0 and 7.0 gpl and volumetric flow rates of approximately 350 m3 /hr Good agreement between calculated and actual launder volumes is obtained for a number of industrial operations for which a comparison is made.

Jan 1, 1973

NEW MEMBERS The following list comprises the names of those persons who became members during the period of Apr. 10, 1918, to May 10, 1918. BALLARD, JOHN I Supt., Cable Mining Corpn., Cable, Mont. BURKMAN, JOHN M. F., Constr. Engr., U. S. Smelt. Refin. & Min. Co., Care -University Club, Mexico City, D. F. CALLEN, ALFRED COPELAND, Head, Mining Engineering Dept., West Virginia University Morgantown, W. Va. CHADWICK, LAWRENCE, Chem., Mt. Elliott Copper Co., Ltd., Selwyn, via Townsville, North Queensland, Australia. CODY, FRANK W., Skimmer, Reverberatory Furnace, Arizona Copper Co., Clifton, Ariz. COOLBAUGH, MELVILLE F., Prof. of Chem., Colorado School of Mines, Golden, Colo. DODGE, ALLAN WAYNE The Dodge Agency, 104 East Iron Ave., Salina, bans. DONNELLY, LEONARD G., Pet. Geol., Sinclair Oil & Gas Co., Sinclair Bldg., Tulsa, Okla.

Jan 6, 1918

By W. A. Knoll

THE sinking of a new shaft at the Newport mine, Ironwood, Mich., was started in May 1931 and completed on Aug. 3, 1932. During this period, 2665 ft. of shaft in granite was completed, at, an average advance of 6 ft. per 24 hr. In November of 1930, experimental work was con-ducted oil 65 ft. of shaft through 22 ft. of overburden where ledge was encountered, and this work convinced the operators that all drilling could be clone with vertical holes with the blasting relief to a 4 ½ -in. hole drilled vertically in the center of the cut. The reason for not adopting the conventional V-cut was to get away from damaging the shaft steel. The blasting in a V-cut naturally tends to throw the broken material upward, but with the cut as adopted the relief was in a horizontal direction to a large extent. The scheme of mucking employed made it necessary to keep the steel shaft sets within 511 ft. of the bottom at all times. This could not be clone without serious damage with a V-cut when blasting in granite. The cut as drilled also broke 10.53 ft. per round of drilling, which was considerably more than the experience with a V-cut in the sane material. The extended cut reduced proportionately the delays for charging, blowing smoke and handling drilling equipment in the shaft. Another advantage was the ease in drilling vertical over inclined holes, and the preservation of the proper spacing of the drill holes at the bottom of the cut.

Jan 1, 1938

By Oscar Weiss

STILFONTEIN and surrounding areas gave negative results in all prospecting attempts since about 1904 when Goerz and Co., a forerunner of Union Corporation Ltd., first drilled in the region and on the farm Stilfontein. Subsequent efforts by African and European Investments Co. and Anglo American Corp. from 1934-37 were completely unsuccessful. Holes drilled by these companies on the farms Rietfontein, Hessie, and Palmietfontein were stopped in the Lower Witwatersrand system without finding payable reefs.

Jan 10, 1951

By Sylvain J. Pirson

The main value of earth magnetic measurements, outside of certain mining problems, resides in the study of deeply buried tectonic phenomena related to regional and local geology. Magnetic surveys are a necessary complement of gravimetric measurements, especially of pendulum surveys. To date, magnetometer prospecting has been used chiefly in the study of sedimentary basins where petroleum structures are associated with the uplifted basement rocks. There are, in the literature, innumerable articles dealing with such surveys as applied to oil geology but few treat of broad geological features related to regional magnetic disturbances of the earth field. An important piece of coordination work has been made by Jean Jungl for the magnetic and gravimetric measurements made in France and their geologic significance. A similar attempt at correlation of the known geology with the anomalies of the vertical component of the earth magnetic field has been made for the United States by George B. Somers2. Taking the magnetic vector as a whole, W. P. Jenny3 made a coordination of magnetism and geology for the main producing oil states of the United States. A more detailed study along the same lines is published by A. Van Weelden4 for southern Oklahoma and northern Texas; in this work magnetic and gravimetric measurements taken at stations as close as one mile apart are compiled and compared to the regional geology of the Ouachita-Amarillo uplifted area. From the literature mentioned, it is evident that reliable interpretation of magnetic' anomalies can be arrived at only when the magnetic stations are numerous and cover the area in a close net of measurements, therefore the works of Somers and Jenny, based on sparsely distributed Government measurements, can be regarded only as preliminary programs indicating lines along which further work should be done, whereas the coordination made by Van Weelden is an example of the contribution to the knowledge of regional geology that can be arrived at by the use of applied geophysics. With the hope that further systematic magnetic measurements will be carried on to solve regional and local geological problems, the author

Jan 1, 1940

The Committee, appointed early in May, met and organized in Washington, May 9, 1923, and were then advised that such data as they required would as far as obtainable be submitted to them in tabulations, and that they could not be allowed to see the individual reports nor know the identity of the operators on whose reports the figures submitted were based, therefore the Committee's valuation is based on data received from your statisticians, and on tonnages estimated by your staff and by the United States Geological Survey. Various methods of valuation for mining properties have been suggested, but all authorities seem to agree in accepting, as the fairest and most practicable and logical, a capitalization of the estimated future earnings, when such estimate can reasonably be made. Hoover and Finlay both emphasize this. The United States Supreme Court says in Cleveland, Cincinnati, Chicago & St. Louis Railway Co., v. Backus, 154 U. S. 439: But the value of the property results from the use to which it is put and varies with the profitableness of that use, present and prospective, actual and anticipated. There is no pecuniary value outside of that which results from such use. The amount and profitable character of such use determines the value. The Committee on Federal Taxation of the American Institute of Mining and Metallurgical Engineers, appointed in 1919, in its report states: A proper value of a mining property is the present value of the prospective net earnings, taking into account probable variations in output and value. Ingalls ("Wealth and Income of the American People," p. 97) says: The fundamental principle of mine valuation is the present worth of an annual dividend accruing during the period of years corresponding with the lie of the mine. It is a convention that the estimated period shall not be more than 30 years.

Jan 1, 1924