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By AIME AIME

THE difficult problem of visitors is being met by the Hudson Coal Co. at Scranton in an ingenious fashion. The Company had long made it a point to have dealers selling its coal visit the mines, whenever possible. "The excellent reaction obtained from these dealer visits brought up the question of whether it would not be possible to open one or more mines to the public, and give the consumer an opportunity of seeing for himself how anthracite is mined and prepared. Ac-

Jan 1, 1929

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By H. A. Guess

For a number of years I have used for the commercial wet assay of lead generally the ammonium molydate, and occa-sionally the ferrocyanide method. These well-known methods need no detailed description here. In the ore-selling and ore-buying establiahments of the West, 90 per cent. of all wet lead-assays are made by one or the other, and at least nine-tenths of this proportion by the molybdate method. A procedure so well-established must have merit; and, in

Jan 1, 1905

By L. C. WYMAN

THIS paper discusses what mining reports should contain when presented to the California State Corporation Department, to accompany applications for the sale of stock to the general public, but the principles involved apply to mine financing everywhere. Such reports should 'be as clear and concise as possible, endeavoring to tell the truth in as few words as necessary. Should the engineer be aware that his report is to be used in connection with the sale of stock to the general public, he should consider the public as his client as well as the person who actually employs him. It is always required that the engineer be favorably known and of recognized standing. The following points should be given careful attention : 1. A legal description and location of the property. 2. Transportation conditions, and how they may be expected to affect the operating costs. 3. A brief history of the property, its production record as to tonnage, grade, and character of the ore should be given. Should the property have suspended operations for any reason, this should be given. Any details of former operating costs should be given, especially as to how any improvement could be made, due to better methods which might be employed.' 4. The main geological features and whether they are such as to lead the engineer to believe that the mine may possibly 'be exhausted or the ore of such grade as to be no longer profitable. If he considers them favorable, he should give his reasons for the belief that further development work may produce profitable results. A map showing these features should be submitted, and it is not necessary that such map be highly colored or contain any more than the essential matters. 5. Other mines in the district, or those with similar

Jan 1, 1929

By AIME AIME

T. E. PURCELL, general chairman . of the local committee, opened the seventh meeting of the Fuels Division A.S.M.E. and the Coal Division A.I.M.E., at the William Penn Hotel, Pittsburgh, Oct. 28-29, by introducing Harry M. Moses, president, H. C. Frick Coke Co., who welcomed the 500 registrants to "our town." Mr. Moses, in his brief talk, declared that in the postwar period each of the new centers must have a reason for existence. Pittsburgh, he said, has no iron ore, or bauxite, and limestone is scattered and not near by; but Pittsburgh does have low-cost fuel within reasonable distance. Its problem is the economical utilization of the low-cost fuels that remain, as the high-quality fuels are gone. Mr. Moses expressed confidence in this group in the solution of the problem and looked forward to what they would do. Harold V. Coes, the first A.S.M.E. president to attend one of these conferences, responded. He thoroughly believed in these joint meetings - in the cross-fertilization of ideas. Each Division learns from the other. Mr. Purcell then turned the meeting over to J. E. Tobey who presided over the coal research session that followed.

Jan 1, 1943

By C. R. King

Most of the acid volcanic glasses such as obsidian, perlite, pitchstone, pumice, and pumicite (volcanic ash) are susceptible to some expansion if suddenly subjected to a suitably high temperature in a properly designed furnace, and subsequently suddenly cooled. Expansion results from the action of chemically combined or dissolved water expanding as a vapor within the softened heated rock particles. This expansion forms countless minute bubbles within the pasty mass of the natural glass particles. If the particles are cooled before these bubbles can escape, the resulting products are cellular, more or less spherulitized glass froths or hollow glass spheres of many types. Chemically, they are essentially aluminum silicates containing about 70 to 75 pct silica, 10 to 16 pct alumina, and 2 to 7 pct sodium plus potassium oxides. They are relatively resistant to attack by acids or alkalies, are resistant to heat up to over 1000°F, and are completely inert to insect or fungus attack.

Jan 1, 1949

By Walter G. Perkins

T SEEMS almost sheer presumption to attempt' to discuss Russia in its present chaotic political and economic condition, and were it not that at least two certain absolute factors are continuously at work, it would be impossible to' even approach the subject with any degree of intelligence. These are the inborn love of peace of the people and the national character of the cooperative movement. The love of peace inborn in the soul of every Russian, the desire to be left alone and to- live his life among his home village surroundings, is probably one of the two greatest factors that will make the continuance of the present conditions of civil war impossible. One army or the other may sweep up and down the country. but the Russian peasant will: remain in his own village if not literally darken out. This love of peace is evidenced by the fact that there is no country where personal safety is greater than in Russia in normal times. I have traveled in many isolated parts, carrying considerable sums of money and persolial equipment that; in itself, would be a fortune to any peasant, and have never even encountered a condition in which the most wildly imaginative person looking for adventure, 01: trouble, could muster up even a suspicion of fear. This statement applies also to Southern Siberia and Northern Turkestan, which are inhabitated by the nomadic tribes of Khirghese origin.

Jan 1, 1920

By L. F. Terry, H. K. Ihrig, D. J. Sabin, Ralph E. Davis

This paper presents the results of a study of the comparative values of the several fuels commonly used by industrial plants. It shows that the energy actually recovered from any fuel and turned into useful work is dependent upon several factors: (1) the total energy available in the fuel, (2) energy losses resulting from combustion reactions and (3) energy losses dependent upon the mechanics of the firing operation. The chemistry of combustion and the losses resulting therefrom are discussed. The Advantages and disadvantages of the several mechanical methods of firing and the resulting heat losses in each are developed. Data obtained from several typical fuel operations, where careful records have been maintained, are presented to show that the practical results in the actual operation are in harmony with the theoretical results developed in the earlier part of this paper. Water power and solid, liquid or gaseous fuels are at present the only commercial sources of energy. The economic utilization of any one of them depends, in the final analysis, on the cost of energy per unit of finished product to which the energy is applied. The location of the plant utilizing the particular fuel chosen is a large factor in the original choice. The cost per unit at its original natural source, or even in its delivered form, is not always the final measure of its worth. The use of electricity as a source of energy illustrates this to the extreme. Electric current produced from water power is very cheap in certain localities. In Norway, current is sold as low as ½0# per kw-hr., while in dry cells it costs as much as $10 per kw-hr. Yet the sale of dry cells is a large business. The selling price of gas also varies widely. In some localities natural gas for the manufacture of carbon black sells for as low as $0.02 per million British thermal units, while artificial gas for domestic purposes sells for as high as $6 per million B.t.u. Obviously the cost per unit of energy is not the final determining factor in its purchase. Any discussion of the economic utilization of fuels must include costs in relation to the units of finished material manufactured. In large central power generating stations, this is the over-all cost per kilowatt-hour, and in ceramic firing the cost per unit of finished product of a certain quality is the criterion of economic utilization.

Jan 1, 1931

Jan 1, 1879

THE members arrived at Ticonderoga, N. Y., at noon, Tuesday, October 15th, and were received by Mr. Cyrus Butler, Chairman of the Local Committee of Arrangements. During the afternoon the works of the American Graphite Company and the Horicon Iron Company were visited under the guidance of Mr. Butler, President of both companies, and of Mr. William Hooper, Superintendent. An excursion was then made, in carriages, to old Fort Ticonderoga, on Lake Champlain, after which the party were driven to the Rogers Rock Hotel, on Lake George. The first session of the Institute was held in the parlor of time hotel on Tuesday evening. Mr. Eckley B. Coxe, President of the Institute, opened the proceedings with the following address: I shall ask your attention, this evening, to a few reflections upon the subject of mining engineering as a profession in the United States, its past, its present, and its future, and its duties and oppor¬tunities with reference to the proper development of our great min¬eral resources. Thirty years ago, there were scarcely any mining engineers in this country, and but few in England, and there were no institutions where young men could be educated for the profession in the Eng¬lish language. France and Germany have been able for about a century to boast of mining schools of a high character, that number among their graduates such men as Humboldt, Weisbach, Rittinger, Combes, and Gruner. Of the few we then had worthy of the name of "mining engi¬neer," some had studied in the continental academies, and others were graduates in the school of practical experience, and had learned their profession in mines and smelting-works. Their work con¬sisted principally in making surveys and maps of mines and mining properties, geological reports, and analyses of ores ; but the mining engineer whom we often meet with now, who has studied chemistry, physics, mineralogy, geology, mechanics, and drawing; who is more or less familiar with machinery and its construction, and with the practical management of mines or smelting-works, and who is an expert in some one branch of his profession, would have been very difficult if not impossible to find in the United States. The induce¬ments held out to ambitious and talented young men to enter the

Jan 1, 1879

By Robert C. Temps

The history of iron ore milling in Chile can be divided into two periods: the first, which lasted about 40 years, ended in 1952 and the second continues today. During the first period, Bethlehem Chile Iron Mines Co. was the sole shipper and El Tofo, the only mine. That situation was forever altered in 1952 when several small independent companies began to sell ore. The success of these companies triggered programs of exploration which can only be described as a "boom" during the past five years.

Jan 1, 1963

Works Manager or General Superintendent.-Technical graduate, for position with a company whose works consist of a large machine shop and foundry. This company manufactures well-known power plant equipment. Location, Pennsylvania. Salary, $5000-$8000 per year. R-871. Motion Study Engineer with extensive experience in shop operation and motion study. Must have sufficient technical experience to recognize inefficiency and waste in plant. Salary, $175-$200 per month. Location, New Jersey. R-876. Metallurgical Engineer.-Technical graduate with at least 2 or 3 years' practical experience in the operation of zinc smelters. Duties will be to take charge, under the guidance of -the superintendent of the smelter, of the operating end of the furnaces, and the roasting kilns, as well as the mix room and ore crusher. Man desired should not be over 30 years of age and should be progressive and able to handle men. Salary, $250 per month. Location, Oklahoma. R-877. Private Secretary to Vice-president in charge of development department and laboratories of large manufacturing plant; must be technical man of good personality, and A-1 in every respect, as position is an important and responsible one. Location, Ohio. R-896. Sales. Engineer familiar with his local territory, particularly with the fanning trade. Should have had at least 2 years' experience in selling tractors; and in any event, must have had at least 5 years' experience in selling machinery. High grade, energetic, and capable; man who is not satisfied with less than $3000 per year and who can earn up to $7000. Location, Iowa. R-897.

Jan 8, 1919

By Walter W. R. May

FOR more than 25 years a few business men who represent virile private enterprise in the Pacific Northwest have been trying to awaken the community to the potential benefits of an open Columbia River. No threat of government com- petition then hung over the industry, which was adjusted to state regulation. Numerous sites were engineered and the findings were laid before the operators of heavy industry in the East, Middle West, and South -even of Europe. These engineering data became, if not the basis, the inspiration upon which the U. S. Army Engineers eventually were to "build the Columbia River Bible" - their great document known as House Document 103, the report on the Columbia River and minor tributaries.

Jan 1, 1940

By Joklik, G. F.

Most publicity about the copper industry nowadays is focused on the adequacy of ore reserves and on excessive mining capacity. These concerns, stemming from public awareness of actual and potential shortages and oversupplies, relate to production rather than consumption. Perhaps the reason for this one-sided view is that copper is thought of as a commodity which is conspicuously traded in world markets, rather than as one of many industrial materials that serve today's rapidly changing technology. Copper differs from other widely traded commodities in that its real cost of production has progressively increased since World War 11. The reasons for the increase are identifiable by analyzing operations in one of the world's large producing centres, the copper province of Arizona. Another respect in which copper differs from some other commodities is that increases in demand occur less automatically in the case of copper than they tend to in commodities whose consumption is more directly related to population growth. The copper industry's current inability to generate and attract needed investment capital is attributable to these differences between copper and other commodities; it suggests that the concept of copper purely as a commodity is outdated. The key to the problem is better integration between the activities of copper producers and users. Depending on circumstances, integration takes various forms- for example, investment tied to long-term sales con- tracts between producers in developing countries and consumers overseas; common ownership of producing and manufacturing facilities in industrialized nations like the U.S.; and consumer-oriented research and marketing by the copper producers.

Jan 1, 1978

By L. E. Young

IT has been said the British Empire was built on British Coal. In all the postwar planning for Great Britain the necessity for producing cheap coal and the prosperity of the coal industry are given first consideration. On Jan. 23, 1945, there was released in London a "Report to the Colliery Owners" which had been awaited with great interest. This was entitled "A Plan for Coal" and was the recommendation of Robert Foot, chairman of The Mining Association (Colliery Owners), prepared at their request. Presentation of the "Plan" at this time is particularly significant as it is an answer to the demand for nationalization of the coal industry by the Labour Party and at the same time is a carefully considered program for postwar reconstruction, prosperity, and stability. In the words of Mr. Foot, If the coal industry for the first ten years after this war is to find itself in a situation similar to the one it occupied for the ten years following the last war, with its record of disputes, strikes, stoppages, short-time working, unemployment, and, with it all, a completely insufficient margin of profit, and all the insecurity and instability in our basic industry that was brought with them, it is goodbye to any real prospect of full employment, social security, and high standard of living. To present an elaborate review of the conditions which have brought to a crisis the unfortunate situation in the British coal industry is here unnecessary, but certain of the salient points

Jan 1, 1945

By Arthur Notman

THE raw material men in all industries, and copper is no exception, are accustomed to think of them- selves as the whole show, and not without justice, for if there were no copper mines the world would have no copper. Nevertheless, many different things costing money and resulting in profits must be done to their product before it is ready for the world's use. In other words, they are making the frequent mistake of Chinking in terms of partial costs. Nobody really uses electrolytic copper. Possibly that is why nobody seems willing to pay anything for it. The manufacturers, being canny, do not buy any more electrolytic than they feel that they can work up and sell profitably, although they like to make the raw material men Chink that they will take all that can be produced. This is a state of affairs that has aroused my sympathy and curiosity, and has induced me to study the financial history of the copper wire and brass industry of the country or such portion of it as publishes any records readily available to the curious minded. About 60 per cent of the electrolytic copper used in this country is drawn into wire and consumed by the electrical industries. The remaining 40 per cent is

Jan 1, 1926

By John D. Wiebmer

First, a definition of a small scale miner is in order. The US Bureau of Mines classifies him as one who produces 360 t/d (400 stpd) of ore or less. In Canada, he would be refered to as a "junior company." Mexico identifies the small scale miner as one whose gross income from operations is less than $880,000 per year. A small surface mine in India employs less than 400 people, and a small underground mine employs less than 150. Peru considers a small scale miner one who produces less than 54 000 t/y (60,000 stpy) of ore. Obviously, the term is relative. What may be a small mine in one country is a medium or large mine in another. This lack of agreement is understandable since small scale mining does not often cross national boundaries. Rather, its effects are felt at the regional and local levels within each nation. Its importance doesn't lie with any huge contribution to the GNP or balance of trade. Instead, its value is as a local employer and as a frontrunner in geologic exploration.

Jan 2, 1979

By AIME AIME

A COMMITTEE, representing a number of the larger oil companies in California, met in San Francisco on Nov. 12, 1919, for the purpose of discussing the depletion deductions to be allowed in computing the Federal income taxes under the Internal Revenue Act of 1918. It was the general sense of the committee that a system based on sound engineering principles should be formulated for estimating the value of oil properties, so that better and more uniform results might be obtained by the various companies in filing their returns with the' Bureau of Internal Revenue. A subcommittee, consisting of five petroleum engineers, was thereupon appointed to collect information and draft a report. The committee consisted of G. C. Gester, Carl H. Beal, J. H. G. Wolf, E. G. Gaylord, and E. D. Nolan; this report is the work of that subcommittee.

Jan 1, 1920

By Lucius W. Mayer

WHILE the mind of the financier does not normally run along channels similar to those of his technical adviser, engineers, because of their exactness, are ever more called upon to manage affairs where financial matters are involved. It is, true, not a relatively large number have thus far functioned in this capacity. It is also true that the essentially financial mind could not serve in a responsible engineering position; for to be a successful engineer one requires precise thinking, making due allowance for factors of safety. To be a financier seems to require less aptitude for exact thinking than of enthusiasm and confidence in capitalizing prospective possibilities. Both require imagination, the engineer being, more conscious of the limitations of natural conditions. It is to be regretted that the engineer' stands so far aloof from financial matters. Many consider them- selves successful, as did Steinmetz, as long as their reward is the consciousness that they are giving supreme service to mankind. They are 'generally happy in their work and, like our honored brothers who are teachers, gain their greatest satisfaction, not in the amount of their remuneration so much as in the service rendered society and in the excellence of results achieved. Indeed, these sentiments bespeak character and command respect.

Jan 1, 1924

By Raymond B. Ladoo

NONMETALLIC minerals (excluding fuels) arid their primary products produced annual in the United States have a value in excess of one billion dollars, or more than that of the metals, yet the lack of expert knowledge of some of the fundamental technical and economic aspects of this most important and complicated business is astonishing. This paper will deal with the economics of this non- metallic mineral field-the business of making money from producing these minerals. The incentive behind all business activity in a capitalistic economy is to make money-to plan so that each dollar invested in property, plant, equipment, services, and so on will return more than a dollar plus simple interest. Of course, business has social, civic, and national duties and responsibilities, but the fulfillment of these is largely dependent upon financial success.

Jan 1, 1939