Search Documents

By Scott, Turner

IN 1933, the monetary metals were produced in a ratio of 6.7 oz. of silver to 1 oz. of gold, the lowest relatively for silver since the period from 1851 to 1865. At the beginning of that period, the virgin placers of California -and Australia began producing almost simultaneously; in consequence, there was an abrupt fall in the high silver side of the ratio that had prevailed through the centuries after America was discovered. The output from the Comstock and other silver-bearing lodes, located a decade after this influx of new gold began, soon restored the production ratio to its former proportion, that is, a relatively large weight of silver compared to gold.

Jan 1, 1934

By Tilden Cummings

The extractive mineral industries share a number of common characteristics and basic problems which are completely different from those associated with manufacturing and mercantile operations. These industries now supply about 95% of the inanimate energy consumed in this country, and share with agriculture in providing virtually all of our basic raw materials. Mineral producers, like farmers, are subject to the economic hazards of fluctuating markets and prices. Unlike farmers, however, they cannot renew the productivity of the earth, but must seek continually for new sources of supply. The necessity for exploration and development of new reserves, to replace those used up by production, introduces additional factors of economic risk. These operations require the expenditure of large amounts of capital, often well in advance of any assurance of profitability. Commercial banks that understand these special problems can provide a variety of constructive financial services to the mineral industries. The history of cooperation between banks and mining enterprises has yet to be written, but there is every indication that it would encompass a period of hundreds of years. Records refer to depository and lending services by the early European private bankers involving precious metals and jewels. Many of the exploratory voyages to the Far East and the New World were organized with the financial backing of wealthy syndicates, some of which also provided banking services, in the hope of finding new sources of gold and other precious minerals. In the United States many large banks are closely identified with the development of some of the larger mineral deposits such as the Mesabi Range and the gold fields of California.

Jan 5, 1965

By A. O. Dady

PRODUCERS of both bituminous and anthracite coal have for many years been worrying about the gradually decreasing consumption of their product in the United States. Twenty years ago production had climbed to a peak of 569,000,000 tons of bituminous and around 90,000,000 tons of anthracite. In 1939 it was about 393,000,000 tons of bituminous and 51,000,000 tons of anthracite. This does not mean that the country is using less polver than it did twenty years ago, or that we are living in colder buildings. As a matter of fact, about three times as much electric power is now being consumed as in 1920. In general two factors are responsible for the drop in coal consumption: (1) greater efficiency in the use of coal, and (2) increased competition from hydro power, internal-combustion engines, and substitution of oil and gas for coal in conventional furnaces. As to the first factor, it took 3 Ib. of coal to generate a kilowatt-hour of electricity in central stations in 1920 and it takes 1.4 Ib. now; it took about 175 Ib. of coal in railroad locomotives to haul 1000 long tons a mile in 1920 where it talces about 120 lb. now: and marked economies have also been made in the use of coal in steel plants: in by-product coke ovens, and in other large uses. As to the second factor, three times as much electricity is produced from water power now as was produced in 1920; three times as much oil is being consumed in various ways; and likewise, the consumption of natural gas has tripled- whereas coal consumption in the same period has dropped by 40 per cent

Jan 1, 1941

By P. B. Bucky

IN this day of steady progress in the mining industry, especially along mechanical lines, the question of whether to discard present equipment for that of a new type often engages the minds of many officials of mining companies. The rapid strides made from year to year sometimes cause this question to be brought up within a year after new equipment has been purchased and installed. It is a moot question whether a machine that has been purchased last year should be replaced by a new one put on the market this year. As I see it, the reasons for the replacement of present equipment may be summed up as follows: (1) because of increased safety; (2) because of legal regulations; (3) because of increased profits. I think all of us, as engineers, will endeavor to put in as safe equipment as it is possible to devise. The tendency of mining companies in that direction is very gratifying.

Jan 1, 1930

By Philip S. Mathews

THE tremendous stimulus given to the mining industry by the gold and silver policy of the present administration has found the capital market for mines ill prepared to afford practical means of financing. Particularly has this been true of the host of abandoned high-cost producers and prospects which increased gold and silver prices have made potentially profitable. In a comparatively short time, experience has demonstrated abundantly that valuable properties have frequently failed to secure capital, while questionable properties have drawn to themselves and their promoters more of the public moneys than their prospects justify. Singularly enough the fault is usually attributable to faulty financing. Discussion and study of this problem are vital to the industry.

Jan 1, 1936

By Louis Ware

BEFORE the war we often heard the term "Big Business." And there were complaints of the ills and abuses attributed to bigness in business. Although there were examples where the small businessmen spoke for their rights and sought protection from the bigger ones, it has only been in recent war years that a tendency has developed definitely to divide the business of our nation into the big and the small. In some cases, those with an eye to the political value of the vastly greater number of small businessmen of the country have fomented this division by hurrying to the protection of these more numerous voters, and intentionally or not have emphasized in their writings and verbal attacks any and all differences of these interests that could either be found or fabricated to, suit the occasion. It has become another example of breaking the people into classes and thus setting up the basis for the claims of one class against another, and the subsequent demand for legislation and Governmental aid. The terms "big" and "small" are purely relative. One businessman, employing a hundred men, told me recently he did not know which adjective would be more appropriately applied to his operation. He did not know whether he should join the small operators' group that had been organized, or should consider himself big. He said that his present plant seemed big to him when he looked back to its humble beginning many years ago with a couple of men in two rooms. Yet, when compared with many of his competitors who employ thousands, his was small. He did add, however, that he probably became big one day a few years ago when the union moved in and organized his employees.

Jan 1, 1945

By Eugene Guccione

Australia could eventually become a major world supplier of uranium oxide-but how quickly that happens depends on the outcome of a highly complex and emotional battle among different special interests.

Jan 1, 1977

By D. W. Loucks

There is plenty of evidence to indicate that at least one of man's chief interests in life is to make himself as comfortable as possible. If you doubt this, just watch the fellow next to you for the next half hour trying to find the most comfortable position that a hard chair has to offer. Comfort, however, does not always mean an easy chair. To some, it may mean a wealth of money: to another, freedom from worry. But to most of us, it means first of all a comfortable atmosphere in which to live, and to a great many of us it probably also means freedom from that annoying task of firing the furnace. Today more than ever before, automatic heat is one improvement that is placed high on everyone's list. Perhaps this is because automatic heating is becoming relatively cheaper. Perhaps it is because of a good publicity campaign on the part of the oil and gas men or maybe it is just that we are getting lazier day by day. At any rate, almost every issue of Better Homes and Gardens, House Beautiful, or your other favorite home magazine carries an article extolling the virtues of this or that automatic heating system.

Jan 1, 1949

By Herbert Everest

THE idea of economical production is usually associated with large operations, tonnages, and mines, with even larger capital behind them. Nevertheless many small mines operate in the shadow of large competitors and make a good showing on the capital invested despite larger overhead expenses. For the purpose of this discussion I will divide the cost of production into classes, and specify opposite each the approximate percentage expended thereon: 1. Labor, including miners and company men; 60 to 75 per cent. 2: Development, including all necessary yardage, room turning, crosscuts, etc.; 7 to 12 per cent. 3. Deadwork, covering payment to miners for handling falls, drawslate, or faults, rock work, water, and in general, all nonproductive labor; 3 to 7 per cent. 4. Supplies: mine timbers, oil, brattice material, lumber, cement, and repairs to equipment; 2 to 6 per cent. 5. Expense: management, selling, office, taxes, etc.; 1 to 5 per cent. 6. Depreciation of coal reserves and royalties; 6 to 10 per cent. 7. Depreciation of equipment and interest on capital invested; 1 to 3 per cent. 8. Fuel; ½ to 1 ½ per cent. The labor cost for a small mine is relatively much lower than for a large mine, particularly the sum paid to company men. Idle-pay expense is cut to a minimum; the labor item being larger than all the others together, a saving in labor makes a decided showing on the total cost. The development charges in small and large mines are about the same. There should be a small showing on the Beadwork item in favor of the small mine. The unit cost for supplies is usually small in the small mine. The operator of the small mine finds, owing to a limited tonnage, that the expenses of management, selling, etc., are abnormally high.

Jan 1, 1916

By Herbert A. Everest

The idea of economical production is usually associated with large operations, tonnages, and mines, with even larger capital behind them. , Nevertheless many small mines operate in the shadow of large competitors and make a good showing on the capital invested despite larger overhead expenses. For the purpose of this discussion I will divide the cost of production into classes, and specify opposite each the approximate percentagc expended thereon: 1. Labor, including miners and company men; 60 to 75 per cent. 2. Development, including all necessary .yardage, room turning, crosscuts, etc.; 7 to 12 per cent. 3. Deadwork, covering payment to miners for handling falls, draw-slate, or faults, rock work, water, and in general, all nonproductive labor; 3 to 7 per cent. 4. Supplies: mine timbers, oil, brattice material, lumber, cement, and repairs to equipment; 2 to 6 per cent. 5. Expense: management, selling, office, taxes, etc.; 1 to 5 per cent. 6. Depreciation of coal reserves and royalties; 6 to 10 per cent. 7. Depreciation of equipment and interest on capital invested; 1 to 3 per cent. 8. Fuel; ½ to 1½ per cent. The labor cost for a small mine is relatively much lower than for a large mine, particularly the sum paid to company men. Idle-pay expense is cut to a minimum; the labor item being larger than all the others together, a saving in labor makes a decided showing on the total cost. The development charges in small and large mines are about the same. There should be a small showing on the deadwork item in favor of the small mine. The unit cost for supplies is usually small in the small mine. The operator of the small mine finds, owing to a limited tonnage, that the expenses of management, selling, etc., are abnormally high. The item, depreciation of coal reserves and royalties, is usually about

Jan 1, 1916

These pages may be used as order sheets. Mark the number desired opposite title of pamphlet wanted, add your name and address, tear out the sheets and mail them to us. Single orders 25 c. Pamphlets 10 c. each in lots of three or more. Pamphlets 5 c. each in lots of fifty or more. These prices prevail for orders for pamphlets of the same or different titles, when cash accompanies order. The pamphlets listed on the following sheets are advance copies printed to facilitate discussion at the meetings of the Institute. They are offered for sale at the reduced prices given above as long, as the supply lasts. This list is published in the Bulletin in order that members may have the first opportunity to secure pamphlets, which sometimes are in such great demand that the supply is exhausted before the wants of members can be supplied. The following list includes only a fraction of the pamphlets-that have been published by the Institute. Any other paper published by. the Institute may be obtained for the price of $1, except those published in Volume XXXI, which are rare. The, Institute is still selling back volumes of Transactions at reduced prices, but some of these volumes are becoming rare. and members who desire to complete their sets of these very important books on mining and metallurgy are advised to send in their orders as soon as convenient. The attention of members is also called to the bibliographical index of the science of ore deposits contained in the Emmons Volume which is selling at $3 in paper and $4 in half morocco. The Posepny Volume is already exhausted and members who do not get in their orders for the Emmons Volume at the present reduced price may soon find themselves unable to obtain it on such favorable terms.

Jan 7, 1917

These pages may be used as order sheets. Mark the number desired opposite title of pamphlet wanted, add your name and address, tear out the sheets and mail them to us. Single orders 25 c. Pamphlets 10 c. each in lots of three or more. Pamphlets 5 c. each in lots of fifty or more. These prices prevail for orders for pamphlets of the same or different titles, when cash accompanies order. The pamphlets listed on the following sheets are advance copies printed to facilitate discussion at the meetings of the Institute. They are offered for sale at the reduced prices given above as long as-the supply lasts. This list is published in the Bulletin in order that members may have the first opportunity to secure pamphlets, which sometimes are in such great demand that the supply is exhausted before the wants of members can be supplied. The following list includes only a fraction of the pamphlets that have been published by the Institute. Any other paper published by the Institute may be obtained for the price of $1, except those published in Volume XXXI, which are rare. The Institute is still selling back volumes of Transactions at reduced prices, but some of these volumes are becoming rare and members who desire to complete their sets of these very important books on mining and metallurgy are advised to send in their orders as soon as convenient. (See Advertising page 15.) , The attention of members is also called to the bibliographical index of the science of ore, deposits contained in the Emmons Volume which is selling at $3 in paper and $4 in half morocco. The Posepny Volume is already exhausted and members who do not get in their orders for the Emmons Volume at the present reduced price may soon find themselves unable to obtain it on such favorable terms.

Jan 6, 1917

These pages may be used as order sheets. Mark the number desired opposite title of pamphlet wanted, add your name and address, tear out the sheets and mail them to us. Single orders 25 c. Pamphlets 10 c. each in lots of three or more. Pamphlets 5 c. each in lots of fifty or more. These prices prevail for orders for pamphlets of the same or different titles, when cash accompanies order. The pamphlets listed on the following sheets are advance copies printed to facilitate discussion at the meetings of the Institute. They are offered for sale at the reduced prices given above as long as the supply lasts. This list is published in the Bulletin in order that members may have the first opportunity to secure pamphlets, which sometimes are in such great demand that the supply is exhausted before the wants of members can be supplied. The following list includes only a fraction of the pamphlets that have been published by the Institute. Any other paper published by the Institute may be obtained for the price of $1, except those published in Volume XXXI, which are rare. The Institute is still selling back volumes of Transactions at reduced prices, but some of these volumes are becoming rare and members who desire to complete their sets of these very important books on mining and metallurgy are advised to send in their orders as soon as convenient. The attention of members is also called to the bibliographical index of the science of ore deposits contained in the Emmons Volume which is selling at $3 in paper and $4 in half morocco. The Posepny Volume is already exhausted and members who do not get in their orders for the Emmons Volume at the present reduced price may soon find themselves unable to obtain it on such favorable terms.

Jan 8, 1917

By J. H. Allport, C. Garnsey

During the latter part of 1916 and the early months of 1917, due to war activities, there was a threatened shortage of coal which resulted in panic among consumers and a rush to obtain coal at once at any price. As a result of this insistent demand for immediate delivery, prices were bid up by the consumers to unprecedented heights; spot coal which had previously been selling at from $1.50 to $2 per ton was bid up to $5, $6, and, in exceptional cases, as high as $7.50 or more per ton. Then when the April, 1917, contract period arrived, contracts could be made only at prices ranging from $3 up to $5 and $6 per ton for the year's delivery. This condition caused such a demoralization of the business, and SO much complaint, that some action to regulate prices was considered essential by the National Administration. Lane-Peabody Agreement In May, 1917, a committee under the chairmanship of F. S. Peabody, of Chicago, was appointed by the Council of National Defense, through Mr. Lane, to consider the whole question of bituminous coal. This committee, with the Secretary of the Interior, Mr. Lane, after numerous meetings and long negotiations with the operators throughout the country, announced on June 29 an agreement between the Committee and the producers, fixing a tentative maximum price for bituminous coal throughout the country at $3 per net ton f.o.b. mines, to which was added 25 c. for selling commission to wholesalers. This plan was based on the idea of fixing a maximum price, high enough to greatly stimulate production, with the expectation that the laws of supply and demand would, with ample production, operate to maintain fair and just prices for coal throughout the country.

Jan 1, 1920

By Cyrus Garnsey

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

Jan 9, 1918

By J. C. Bayles

Jan 1, 1886

By A. H. Tousley

Current problems in the cement industry are discussed and suggestions for solving them by modernization are made. Cement facility modernization is discussed in considerable detail with examples illustrating before and after conditions. Itemized are the improvements realized in better working conditions, better efficiency, higher production, lower costs, and better community relations. These improvements are related to the overall profitability of the particular plant or facility.

Jan 1, 1972

By Paul M. Tyler

THE farmer pays the phosphate miner! Phosphorus is used in fireworks; goes to battle in military smoke screens, incendiary shells, and tracer bullets; and, in vermin destroying pastes, does its part in the war against insects. A lemon phosphate can be had for a nickel at most soda fountains, and tens of thousands of tons of phosphate rock are mined annually for use in the food industries, chiefly for making monocaleium phosphate baking powder. Sodium phosphate cleaning, washing, and scouring compounds consume substantial quantities: the iron and steel industries buy a few thousand tons yearly to make ferrophosphorus and to balance foundry-iron furnace charges; and even nonferrous metallurgists use a little for phosphor bronze and other alloys. Phosphoric acid, its salts, and diverse other derivatives of this versatile element have countless applications, and industrial outlets are increasing rapidly, especially in the United States. Nevertheless, in this country nearly 90 per cent and in the whole world fully 95 per cent of the phosphate rock consumed is absorbed ultimately in agriculture.

Jan 1, 1938

By E. H., Edwerd H. Robie

WILLIAM CHURCH was one of the founders and the first president of the Detroit Copper Mining Co. and was the first man to interest the Phelps Dodge company in the possibilities of the Morenci district, in the '70's. One rather interesting story concerning him is told by James Colquhoun, at one time president of the Arizona Copper Co., in his "History of the Clifton-Morenci Mining District." It seems that a geologist visited the Detroit company's mines and gave Alec McLean, then mine superintendent, quite a lesson on the proper mineralogical terms for what he saw in passing. Later, McLean handed out a few of them to Mr. Church as they walked through the mine on a tour of inspection. The latter had even less regard for a geologist than he did for sulphide ore, which meant little indeed, for in those days the rich ore was all oxidized, and there was no money in the sulphides. So Church was completely unimpressed by the geological and mineralogical terms that McLean had acquired from the visiting geologist. Church turned on him and warned him that so long as he was a member of his staff he was to understand that there were only two kinds of rock in his mines-the one was smelting ore and the other was waste rock, and he was not to forget it.

Jan 1, 1942

By Pat McCarran

WHEN this Government was founded, the framers of the Constitution wrote into that instrument a provision that Congress should "coin money and fix the value thereof;" and the Constitution prohibits making anything but "gold and silver" lawful money. So silver is written into our basic law. Shortly after President Washington took office in 1789 the Congress passed the first Mint Act, setting up the U. S. Mint. In that Act, signed by President Washington on April 2, 1792, the weight of the American dollar was fixed, and it was provided how much silver should be contained in a silver dollar and how much gold should be contained in a gold dollar. It was decided that 371 1/4 grains of pure silver was to be the standard dollar of America. That standard with respect to the pure silver content of the dollar has never changed.

Jan 1, 1947