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By J. B. DILWORTA

Ix estimating the investment-value of a mining-property or plant, the value of which decreases with operation, it is often necessary to know the sum which must be set aside periodically from earnings either to renew the plant at the end off its life, or to return the capital involved when the earning-power of the investment has ceased. In such cases it is manifestly incorrect simply to divide the total amount to be retired by the number of periods (usually years) during which the investment shall be active, as the sums periodically withdrawn have a certain interest-earning power varying with the length of time they are held and with the opportunities afforded for their investment. But though the interest may be considered to accumulate regularly year by year, yet the rules and tables for compound interest do not apply, owing to the addition of a fixed amount of new money to the total at the beginning of each period. Briefly stated, the problem of sinking-funds is, to find the amount of money which must be periodically set aside at a certain rate of interest, regularly compounded, to yield a certain sum in a given, length of time. In most practical cases the interest is compounded and the fresh amount added at the same time-usually once a year-and on this basis the problem may be solved as follows

Nov 1, 1909

By C. W. Davis

THE name fuller's earth, which was derived from its early use in "fulling" or removing grease from woolen goods, is a term that is generally considered to designate mineral matter, containing hydrous aluminum silicates of the clay group, which has a high capacity for removing colors from oils, whether of animal, vegetable, or mineral origin. Fuller's earths are usually dried and may be "tempered" by heating or may be treated with water or reagents to improve their efficiency. For our purpose the term "acid-treated earths" will include those products from the partial decomposition of mineral water -by acid which are equal to or more efficient than an untreated fuller's earth from Quincy, Fla., when used in bleaching mineral oil by the "contact" process. In general, the contact process for treating oils consists of heating and agitating a mixture of oil and finely divided adsorbent, the latter being subsequently removed by filtration. The term "adsorbent" is used because, although there has been a great deal of controversy over the mechanism of removal of impurities from oils by mineral matter, there is no doubt that adsorption, which involves the surface of the solid, plays a major part.1 The properties that make fuller's earth useful in the treatment of petroleum products by "percolation" and in the purification of edible oils by the contact process have long been studied, but the comparatively recent adaptation of the contact process to the bleaching of petroleum products has made desirable the further investigation of fuller's earth and other, adsorbent earths.

Jan 1, 1929

By R. G. Knickerbocker

A STURDY and consistent expansion of the metal industry occurred in 1947 exemplified by an increase of approximately 30 per cent in steel consumption over 1946. For this major reason, ferroalloy metals have seen their most useful and important peace-time year. The current domestic rate of consumption of high-grade ferroalloy ores, together with added consumption of new foreign producers as well as for eign nationals' restrictions on high-grade exports, makes very evident the increasing difficulties of obtaining sufficient high-grade ores. This accentuates the need for new and less expensive methods of production of ferro-alloy metals of higher purity from lower-grade domestic resources. As an important factor in preparedness, procurement of these high-grade, -critical ferroalloy minerals and metals for our nation's stock piles is a most important task. Also, this stock-piling can be the means of supplying incentive for the industrial development of the new metallurgical processes and plants necessary for the recovery of ferroalloy metals from our domestic low-grade deposits.

Jan 1, 1948

By Scott Turner

MY YEAR OF SERVICE as president of the A.I.M.E. came at a time when the mineral industry had suffered severely because of disturbed economic conditions throughout the world. The Institute, an integral part of this industry, had been similarly affected. Its membership and revenues decreased; it was confronted by problems of retrenchment at a time when its vigorous operation was especially important to its members, of some moment to the mining industry, and of value to the nation. Throughout the last year, the recession of activity in our industry continued with slight abatement. Your Board accordingly exercised such economy within the Institute as was possible without impairment of essential functions. It endeavored to aid in sustaining the morale of members, their sense of professional unity, and their interest in maintaining research and the interchange of scientific and technologic data upon which the progress of our industry depends. Effort was made to assist in the difficult task of finding employment for needy members; our endeavors have met with some success.

Jan 1, 1933

By E. E. AGGER, Arthur Notman

THE proposal has been made in a bill introduced into Congress at the last session by Representative Jones of Michigan that an import duty of 6 c. per lb. shall be placed on copper. This action is urged after eighty years of prosperity for the industry in this country; during most of which copper has been on the free list, and during all of which a tariff would have been without real effect. To comprehend the general situation upon which this action would be imposed, we must refer to the past history of the industry and its trends at the present time. The following table supplies us with a picture of the physical growth of the industry in this country and its relation to that of the world as a whole down to Jan. 1, 1921:

Jan 1, 1925

By F. B. Plummer

PROGRESS during 1940 in oil-production technology has been confined largely to a steady advancement in practices inaugurated in previous years, rather than the introduction of any new startling process or technique. The usual changes, improvements and additions in production equipment have been introduced. An increased attention to, and interest in, research has been noteworthy, resulting in improved efficiency in operation of oil wells. control, utilization of reservoir energies and reduction of production costs.

Jan 1, 1941

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 Leon Borgman, Michael P. Lipkewich

Orebodies at or near the surface are generally amenable to open pit mining. The development of a mining program involves designing an ultimate pit and a production schedule. This pit maximizes total profit while the production schedule maximize6 the present value of the property. Optimum pit limits can be approximated by two-and three-dimensional numerical techniques. These techniques presuppose that the mineralized area has been sufficiently sampled to allow a reasonably accurate prediction of grade at any spatial location.

Jan 1, 1969

By Thomas P. Forbath

THE sudden realization that known sulphur reserves amenable to mining by the Frasch hot water process are nearing exhaustion focused attention on widely scattered surface deposits throughout the world. These deposits are not necessarily of lower sulphur content than ores located underneath Louisiana or Texas salt domes which usually average about 30 pct sulphur disseminated in limestone matrix. Their near surface occurrence, however, renders exploitation by the Frasch process impossible. As is well known, the Frasch process depends on the presence of 500 to 1000 ft of overburden and cap rock above the sulphur deposits to permit melting underground sulphur in place by diffusing hot water under pressures of 200 to 600 psig in the formation and raising the molten sulphur to surface by air lift. This process renders possible the production of pure sulphur which is 99.5 pct pure without any subsequent treatment. Surface deposits contain sulphur in the same range of concentrations as the salt dome deposits, i.e., from 10 to 50 pct sulphur, associated with various gangue materials such as silica, limestone, and gypsum. The pirincipal distinction, then, does not lie in the percentage of sulphur contained in the ore, but in the geological nature of the deposit. A recent study' of the world sulphur supply situation estimated 1950 sulphur production in the free world countries at 5.6 million long tons, of which the United States produced 5.2 million tons, or 93 pct of the total. While America's domestic needs alone would have been covered by national production, about 1.4 million tons were exported during the same year. Despite all the steps which are being taken to restrict use of elemental sulphur and to force the fullest possible development of alternate sulphur sources here and abroad, the deficit in elemental sulphur production will probably increase with time. As a result of intensive prospecting for oil throughout the Gulf Coast area discovery of significant new salt domes is held unlikely. With the growing scarcity of sulphur and what appears to be an inevitable rise in price, recovery from deposits not amenable to Frasch-process mining assumes greater economic importance. Untapped Reserves The most important deposits in this category are located in Sicily, where elemental sulphur occurs in Miocene limestone and gypsum formation. Sulphur content of these ores ranges from 12 to 50 pct with an estimated average of 26 pct. Although quantitative estimate of these reserves is not available it is held that they exceed 50 million tons of sulphur. Similar deposits occur also on the mainland which contribute about one-third of Italy's total current annual production of 230,000 tons, but these are known to be nearing exhaustion. Significant surface deposits of volcanic origin are located in South America, Japan and western United States, silica being characteristic gangue con-stituent. The largest of these deposits are in South America. More than 100 extend over a zone 3000 miles long, paralleling the west coast of South America. 'Total sulphur content of these deposits has been estimated to be as high as 100 million tons. The main islands of Japan also possess at least 40 known volcanic sulphur deposits with probable reserves of 25 to 50 million tons.' Prospected reserves in western United States might amount to 2 million long tons, principal deposits being located in the northwestern part of Wyoming, southern Utah, and eastern California. Volcanic deposits of lesser importance are found around the Mediterranean, in Turkey and Greece, and in Africa, Egypt, Abyssinia, and Somaliland. Beneficiation Methods Different methods of beneficiation have been used in these various locations. In Italy the Calcarone kiln and Gill regenerative furnaces are used exclusively. Both utilize heat liberated by burning part of the sulphur in the ore to liquify or vaporize the remaining sulphur, which is recovered by solidification or condensation. The Calcarone kiln is of conical shape, generally 35 ft in diam at base and 18 ft high. A kiln of 25,000 cu ft capacity burns for about two months and yields about 200 tons of sulphur. The Gill furnace consists of a series of chambers with domed roofs. Sulphur is burned and melted in one chamber at a time and the hot combustion gases are used to preheat the ore charge in the subsequent cell. These furnaces operate on a cycle of 4 to 8 days. The recovery yield of both systems is about 65 pct. Sulphur losses amount to 25 pct through the combustion to sulphur dioxide; about 10 pct is retained in discarded calcines. Ores containing less than 20 pct are not considered suitable as furnace feed. These methods are not only wasteful because of the low recovery obtained, but represent a serious atmospheric pollution problem. Sulphur produced ranges from 96 to 99 pct purity and thus does not match Texas or Louisiana sulphur. Owing to the present shortage, sulphur in the Middle East sells

Jan 1, 1954

By AIME AIME

THE following Officers, Directors, and guests were present: Herbert Hoover, A. R. Ledoux, Henry S. Drinker, Edwin Ludlow, Samuel A. Taylor, Charles F: Rand, William M. Corse, Arthur S.. Dwight, Glen H. Clevenger, L. W. Francis, F. G. Cottrell, Bradley Stoughton, Percy E. Barbour, E. P. Mathewson, Dorsey A. Lyon, Archibald Douglas, A. D. Flinn, RobertLinton, James F. Kemp, William Y. Westervelt, J. W. Richards, W. L. Saunders, George Otis Smith, Thomas T. Read, J..C. Murray, Ralph Arnold. A Committee on Mine Equipment was appointed composed as follows: Graham Bright, chairman, William Kelly, Howard N. Eavenson, R. E. Hobart, and S. P. Rumsey. B. D. Saklatwalla was added to the Committee on Miscellaneous Metals and W. Spencer Hutchinson was added to the Committee on Mining Geology. A revised budget for 1921 was approved. A petition duly signed to amend Section 1., of Article III of the Constitution, increasing the initiation fees from ten dollars to twenty dollars, was approved by the Board.

Jan 1, 1920

By AIME AIME

IN RESPONSE to a request from the president- elect of the Institution of Civil Engineers of Great Britain, Mr. Calvin W. Rice, secretary of the American Society of Mechanical Engineers, prepared a brief history of the joint activities of engineering societies in the United States, from which we have taken the following facts. National Societies Our first joint activities were in collection with the celebration of the eightieth birthday of "Uncle John" Fritz in 1902, and it is of interest to note that two of the members of the original celebration committee, Messrk. . Ambrose Swasey and Jesse Merrick Smith, will be members of the official deputation to England in June. Mr. Rice, also,' was .a member, of the original committee.

Jan 1, 1921

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 ALFRED D. FLINN

ENGINEERING COUNCIL has passed, not out, but upward! Therefore, its recent wake was conducted by itself as a joyful occasion somewhat in advance of its official demise. Council held its last meeting in Washington, Dec. 16, 1920. Business was transacted with dignified gravity in the forenoon. During the afternoon calls were made upon the chiefs of technical bureaus of the Government: the Chief of Engineers, U. S. Army; Chief of Yards and Docks of the Navy Department; Director of U. S. Reclamation Service; Director of U. S. Geological Survey; Director of Bureau of Mines. The Council pronounced them, each and all, able men and true. But what of the evening? Well, there was a dinner at the Washington Hotel. Twenty-six men gathered around a flower-strewn table-not a casket. As guests, there graced the festive board the hosts of the afternoon calls, and a number of members of the new American Engineering Council. The body about to be apotheosized-otherwise known as Engineering Council-was both jocular and reminiscent. Rewards were bestowed and appreciations expressed. To the man who had for three long years borne the burden of chairmanship and whose financial recklessness made possible the Washington office and the movement for a National Public Works Department, the following "note," duly engrossed and signed, was given, accompanied by "The Song of the Council Crew."

Jan 1, 1921

By Robert E. Sorenson

EXPLORATION for deep-seated orebodies in the Silver Belt area of the Coeur d'Alene mining district is complicated by meager surface expressions of diagnostic criteria, lack of knowledge of the significance of specific alteration phenomena, and the great expense involved in the exploration for ore shoots, the tops of which often occur near sea level elevation or below and as much as 4000 ft or more below the surface. Except for the early studies of Ransome and Calkins in 1903 and 1904,[1] little geological work was done in the Coeur d'Alene district for many years, and it is only during the last 15 to 20 years that complete and careful geological mapping has been applied to most of the mines in the area. Much early information, which now would prove invaluable, is lost in hundreds of miles of caved and inaccessible mine openings not mapped by mining geologists. In more recent years mining geology has become a tool of greater use in the district, and some measurable progress is being made in the accumulation of observations that are adding gradually to the knowledge of ore deposits in the district.

Jan 7, 1951

By Henry E. Wood

Cleveland Meeting, October, 1912.) IN my opinion, the concentration of minerals by flotation is the most interesting problem in ore-dressing, and will command eventually far more consideration than it has at present. For many ores it furnishes a complete method of concentration absolutely independent of specific gravity, and thus simplifies the milling of many difficult combinations. Not having to recognize the influence of specific gravity, we are also able to dispense with some of the complications resulting from classifying-conditions. Where flotation cannot be used for a complete separation of the minerals from the gangue, it will be found, in nearly all cases, to save those portions which are generally lost by reason of their fine state of division. For this reason, it should be looked upon mainly as an aid to general concentration, although there are many ores so well adapted to flotation that more than 90 per cent. of the valuable metals can be recovered from them in one operation by this process. In presenting the results of my investigations in. flotation, I have endeavored to theorize as little as possible. That side of the subject has been extensively discussed by others. My earliest work with flotation was done in 1895, when I used various oils, grease, soap, etc., with results that were remarkable. I did not realize then that with water alone equally good separations could be made. Up to 1906, my endeavors were confined to attempts to keep the concentrates on the tables well wetted and away from exposure to the air. In common with others, I observed that when there was any obstruction in. the wash-water on the table of sufficient size to divert the water to either side, the concentrates collected, and, on exposure to the air, would promptly float away. This convinced me that the sulphides were all good " swimmers," and that if,

Nov 1, 1912

By AIME AIME

THE American Institute of Mining and Metallurgical Engineers will hold its annual meeting in New York City, Feb. 9-12. The technical sessions, excepting the Sunday afternoon and evening sessions of the Mineral Industry Education Division (see the M.I.E.D. program) will be held in the Engineering Societies Building. The "All-Institute" luncheon on Monday will be at the Commodore Hotel; the Annual Banquet and President's Reception, the Smoker, and the Informal Dance will be at the Waldorf Astoria Hotel. The dinners of the Petroleum Division and the Institute of Metals Division will be at the Roosevelt Hotel.

Jan 1, 1942

By W. E. Wrather

DURING the war the mineral industry, and metal mining in particular, extended itself more than any other to attain the limit of its productive capacity. Likewise, probably no other industry went quite so far toward jeop¬ardizing its own economic future through depletion of material reserves. Once we looked to Europe for most of the manufactured goods we needed. Our own limited mineral requirements were easily supplied from mines near the Eastern seaboard. With expansion and industrialization, our mineral needs increased in proportion, and the centers of mining activity moved westward to Michigan, Wisconsin, Minnesota, and the Tri-State district, where seemingly inexhaustible high-grade deposits of iron, copper, lead, and zinc ores were opened and rapidly developed.

Jan 1, 1946

By C. W. Davis

THE name fuller's earth, which was derived from its early use in "fulling" or removing grease from woolen goods, is a term that is generally considered to designate mineral matter, containing hydrous aluminum silicates of the clay group, which has a high capacity for removing colors from oils, whether of animal, vegetable, or mineral origin. Fuller's earths are usually dried and may be "tempered" by heating or may be treated with water or reagents to improve their efficiency. For our purpose the term "acid-treated earths" will include those products from the partial decomposition of mineral water by acid which are equal to or more efficient than an untreated fuller's earth from Quincy, Fla., when used in bleaching mineral oil by the "contact" process. In general, the contact process for treating oils consists of heating and agitating a mixture of oil and finely divided adsorbent, the latter being subsequently removed by filtration. The term "adsorbent" is used because, although there has been a great deal of controversy over the mechanism of removal of impurities from oils by mineral matter, there is no doubt that adsorption, which involves the surface of the solid, plays a major part.1 The properties that make fuller's earth useful in the treatment of petroleum products by "percolation" and in the purification of edible oils by the contact process have long been studied, but the comparatively recent adaptation of the contact process to the bleaching of petroleum products has made desirable the further investigation of fuller's earth and other adsorbent earths.

Jan 1, 1929

By Evan Just

DIRECT subsidies for mine production in this country began as an outgrowth of wartime 'price regulation. The price-fixing authorities realized that the volume of production to be required from domestic copper, lead, and zinc mines would invoke costs of production considerably higher than the established ceiling prices. Accordingly, beginning Feb. 1, 1942 the Premium Price Plan was set up, which undertook to pay premiums to mines for production in excess of quota, of 5¢ per lb of copper and 2Y4¢ per lb of zinc or lead. Quotas, except for small mines, were initially established at the average rate of production in 1941, but were later reduced arbitrarily on an individual basis. Subsequently, additional "B" premiums were set for lead and zinc of 2Y40 per lb and a further "C" zinc premium of 2%¢. Additional copper premiums were negotiated on an individual basis, mainly with small mines. Quotas under each of these successive categories were the production obtained at the next lower premium level. In other words, under ceiling prices of 12¢ for copper, 6,14¢ for lead, and 83¢ for zinc, it was possible for high-cost operations to receive prices plus premiums of 17¢ or more for copper, 12¢ for lead, and 16% 0 for zinc on a portion of their production. On the other hand, some of the larger operators received only slight premiums and in at least one instance none at all. The average price plus premium for copper was 12.25¢ in 1942 and rose to 13.65¢ in 1945. That for lead was 6.99¢ in 1942 and 8.73¢ in 1945, and for zinc it was 9.06¢ in 1942 and 11.200 in 1945.

Jan 1, 1948

OFFICIAL Washington is gravely concerned over the adverse military situation caused by the all-out intervention of the Chinese Communists in Korea. What the policies of the United Nations and the United States will be in the new crisis is unknown. However, Stuart Symington, chairman of the NSRB, set the general pattern for mobilization in the near future when he said that this country would move from a "light gray to a dark gray mobilization." The implications of accelerated mobilization for the mining industry are particularly apparent with respect to the manpower situation. Revised policies recently initiated for the recall of reservists may be abrogated, in which case key personnel in the mining industry may face calls to active duty with insufficient consideration given to their indispensability to national defense in their present positions.

Jan 1, 1951