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By James Marsh

INTRODUCTION Economists have long expressed suspicion of the economic theory of natural resource exhaustion, even in writing articles which have contributed to it (1). Indeed, the gap which separates the pure theory from practical management seems unusually wide. It is doubtful whether a mine manager could possibly know enough about the relevant parameters of his mine to steer it along the optimal paths described by the theorists (2). Nevertheless, enough faith in the theory remains that mine managers are suspected of being a separate breed whose behavior must be studied in special courses using specialized text-books, collections of readings, and journals (3). The implied hypothesis, that mines and natural resource firms are managed differently than other firms, is the subject of this paper. In the next section the theory is developed and analyzed. In section III, I discuss the implications of the statistical results that have been obtained. Finally, conclusions are reserved for section IV. THE MODEL A key difference between the traditional theory of natural resource production and that of other forms lies in the set of variables which ire assumed to jointly determine the quantity of output the firm will produce. Output, in the non-resource case, is assumed to be a function of k clearly definable and distinguishable inputs or factors of production, viz., y = f(xl, x2, ..., xk), (1) here

Jan 1, 1977

By J. H. Jensen

Bromine is the intermediate member of the halogen family of elements between iodine, a solid: and chlorine, a gas. The name is derived from the Greek "bromos," meaning stench. Bromine is the only nonmetallic element that is liquid at room temperatures with a melting point of -7.2" C and a boiling point of 58.78" C. Reddish brown in color, it dissolves easily in water to yield a red solution. Bromine volatilizes at ordinary temperatures to a red vapor that is very irritating to the eyes, nose, and throat. Density of the liquid is 3.12 and gas weighs 7.59 gpl at standard conditions. As the element is highly active, it exists in nature only as bromide compounds. Bromine was discovered by Antoine Jerome Balard in seawater bitterns in 1826 and first prepared in quantity in 1860. Distribution Bromine is widely distributed in nature and compounds occur in solution in natural brines, in seawater, saline lakes, oil and gas well brines, and in evaporite chloride minerals. The concentration of bromine salts ranges from 60- 65 ppm in seawater to several thousand ppm in oil well brines and saline lakes. The distribution of bromine in marine evaporite minerals and in the solutions from which they crystallized was determined many years ago by H. E. Boeke (1 908). Theoretical aspects regarding the geochemistry of bromine have been published in numerous papers (Raup and Mite, 1969). Bromine occurs in solid solution in carnallite and sylvite associated in potash de- posits; in halite in salt beds; salt in oil shales; and in trona deposits. Its presence is useful as a guide in geochemical exploration. The analysis of small amounts of bromides in the presence of large amounts of chlorides is discussed by W. Schwerdtner (1963). Manganese, iron, and iodine may interfere with the determination. Other analytical methods are discussed at length in the literature (Stenger and Atchison, 1964). Sources and Reserves The sources and reserves of bromine, given in [Table 1], appear ample to meet present and foreseeable requirements in all producing countries. With the occurrence of bromine salts in sea-water and other brines, the potential for bromine production is worldwide. It has been estimated that 99% of all commercially recoverable bromine is in the ocean. However, actual subterranean brines having a higher bromine content than seawater will continue to be the preferred sources of bromine for the foreseeable future. Markets and Prices About 17% (1968) of bromine produced is used in its elemental form, with the balance consumed as bromides and bromates. The largest use for bromine is ethylene dibromide which, together with tetraethyl lead, are used as an antiknock additive in gasoline. Tetra-ethyl lead is the antiknock agent. Ethylene dibromide combines with the lead after combustion in the engine to form a volatile com- pound that escapes from the engine with the exhaust gases.

Jan 1, 1975

*J. H. Brennan, Union Carbide Metals Company, Niagara Falls, N. Y. S. B. Casey, Jr., Swindell-Dressier Corporation, Pittsburgh, Pa. C. M. Cosman, Vanadium Corporation of America, New York, N. Y. H. E. Dunn, Vanadium Corporation of America, New York, N. Y. C. S. Finney, Eastern Gas and Fuel Associates, Boston, Mass. M. O. Holowaty, Inland Steel Company, East Chicago, Ind. John Mitchell, Eastern Gas and Fuel Associates, Boston, Mass. Leo F. Reinarts, Armco Steel Corporation, Middletown, Ohio H. E. Rowan, Dwight-Lloyd Division, McDowell Company, Inc., Cleveland, Ohio R. W. Shearman, The Metallurgical Society of AIME, New York, N. Y. C. M. Squarcy, Inland Steel Company, East Chicago, Ind. F. Weston Starratt, The Metallurgical Society of AIME, New York, N. Y. A. B. Wilder, National Tube Division, United States Steel Corporation, Pittsburgh, Pa. *Deceased

Jan 1, 1961

The following officers and committee chairmen were elected: Honorary Chairman, Herbert Hoover; Chairman, Elmer A. Sperry, New York; Vice-Chairman and Chair-man of the Executive Committee, John W. Lieb, New York; Vice-Chairman, C. E. Grunsky (Pacific Coast), San Francisco; C. F. Kettering (Middle West), Detroit; Execu-tive Secretary, Maurice Holland; Executive Committee: Gano Dunn, George W. Fuller, Maurice Holland, Frank B. Jewett, John W. Lieb, H. J. McGraw, Calvin W. Rice, W. E. Wickenden, all of New York; Dugald C. Jackson, Cambridge, Mass.; 0. C. Merrill, Washington, D. C.; Charles F. Scott, New Haven, Conn.; Elmer A. Sperry, Brooklyn, N. Y.; Finance Committee. John W. Lieb; Technical Program Committee: D. C. Jackson; Transporta-tion Committee: F. B. Jewett; Entertainment Committee: 0. C. Merrill; Publicity: J. H. McGraw; Promotion and Attendance: George W. Fuller.

Jan 5, 1928

1876, PROF. RICHARD AKERMAN Stockholm, Sweden. 1913. DR. FRANK DAWSON ADAMS Montreal, Canada. 1909. PROP. RICHARD BECK Freiberg, Germany. 1905. ANDREW CARNEGIE New York, N. Y. 1906. DR. JAMES DOUGLAS New York, N. Y. 1888. PROF. HATON DE LA GOUPILLIERE Paris, France. 1966. SIR ROBERT A. HADFIELD London, England. 1888. PROF. HANS HOEFER Leoben, Austria. 1917. HERBERT C. HOOVER San Francisco, Cal. 1915.. JAMES FURMAN KEMP NEW York, N. Y. 1905. PROF. HENRI LOUIS LE CHATELIER Paris, France. 1913. EZEQUIEL ORDONEZ Mexico City, Mexico. 1909. ALEXANDRE POURCEL Paris, France. 1911. DR. ROSSITER W. RAYMOND New York, N. Y. 1911. PROF. ROBERT H. RICHARDS Boston, Mass. 1909. DR. ING. H. C. EMIL SCHROEDTER Dusseldorf, Germany., 1906. JOHN E. STEAD Middlesbrough, England. 1902. PROF. DIMITRY CONSTANTIN TSCHERNOFF Petrograd, Russia. 1910. PROF. TSUNASHIRO WADA Tokyo, Japan. 1907. CHARLES D. WALCOTT Washington, D. C.

Jan 1, 1917

Albin, B. R. Billings, Mont. 28 Amster, Nathan L 25 Broad St., New York, N. Y. '28 Bache, Jules S. 42 Broadway, New York, N. Y. 28 Barrett, C. P. 5338 Harper Ave., Chicago, 111. '28 Baum, Frank G., Cons. Hydro-Electric Engr Cassel, Shasta Co., Cal. '28 Bayless, William S. Russ Bldg., San Francisco, Cal. '28 Bean, Louis H.60 E. 42nd St., New York, N. Y. '28 Beatty, Roes J. 1105 First National Bank Bldg., Chicago, Ill. '28 Benwell, Oswald F. Hold Mags. '28 Beymer, Albert S., V.P., Keystone National Bank Pittsburgh, Pa. '28 Blumenthal, Hugo 44 Pine St., New York, N. Y. '28 Boettcher, Charles Ideal Cement Bldg., Denver, Colo. '28 Bowlus, Thomas H. Iola, Kan. '28 Brown, Colvin B. Chamber of Commerce, Washington, D. C. '28 Bart, Maxwell Struthers Southern Pines, N. C. '28

Jan 1, 1932

Albin, B. R Billings, Mont. '28 Amster, Nathan L 25 Broad St., New York, N. Y. '28 Bache, Jules S. 42 Broadway, New York, N. Y. '28 Barrett C. P. 5338 Harper Ave., Chicago, Ill. '28 Baum, Frank G., Cons. Hydro-Electric Engr Cassel, Shasta Co., Cal. '28 Bayless, William S. Russ Bldg., San Francisco, Cal. '28 Bean, Louis H. 60 E. 42nd St., New York, N. Y. '28 Beatty, Ross J. Room 604, 6 N. Clark St., Chicago, Ill. '28 Benwell, Oswald F. Hold Mags. '28 Beymer, Albert S., V.-P., Keystone National BankPittsburgh, Pa. '28 Blumenthal, Hugo. 44 Pine St., New York, N. Y. '28 Boettcher, Charles Ideal Cement Bldg., Denver, Colo. '28 Bowlus. Thomas H. Iola, Ken. '28 Brown, Colvin B. Chamber of Commerce Washington, D. C. '28 Burt, Maxwell Struthers Southern Pines, N. C. '28

Jan 1, 1932

By Lawrence A. Roe

The magnetic reflux classifier, which utilizes the combined effects of magnetic fields and a hindered settling classifier, is a new tool for determining the quantity and quality of middlings in fine-sized magnetite concentrates. Results are given for processing a typical taconite ore, and a sketch of the apparatus is included.

Jan 3, 1953

By James H. Pannell, John Dasher, Wilfred L. Freyberger, A. M. Gaudin

A new sorting process for beryllium minerals is described. This depends upon emission of neutrons upon irradiation by gamma rays, a nuclear reaction which is specific for beryllium at the appropriate energy level. Signals given by neutrons when ore passes on a belt are changed to mechanical commands through amplifiers and other electrical equipment.

Jan 4, 1950

By AIME

Generally speaking, the mining industry had a good year in 1948 with most mineral products being produced in record quantities for peacetime standards. The big boys-iron and steel, coal, and petroleum-indicated the industry-wide trend by surpassing 1947 production figures. Although exploration and expansion are being pushed aggressively in all branches of the industry, there is a pronounced trend to engineering and research directed at cutting production costs, improving the product, and finding new markets. These improvement campaigns are making headway; in the bituminous coal industry, 5.43 tons per man employed is the new production record; 83 million tons of iron ore were unloaded at lower Lake ports, breaking another peacetime record; magnesium, due to improvement in manufacturing techniques, now competes on the market with aluminum.

Jan 1, 1949

By John Blandy

EVERY new mining district has had its own peculiar experiences in inventing and experimenting upon new methods for the various operations of mining, and more particularly in the processes of crushing and dressing ores. As a matter of course, during this period many old things have been reinvented, patented, and cast aside, there to remain until at a future day other geniuses shall bring them forth again as new. In this respect the Copper Region of Michigan has not been behind other mining centres, and probably in no other part of the country has more money been expended in devising new machines and improvements upon old ones for the crushing of the rock. The appliances for washing the sand have not been so varied, simply for the reason that, having but one mineral, or rather metal, of high specific gravity to separate from rock material which varies but little in its character in any one mine, it requires much less care than is necessary in most mining centres of the world. At the beginning of operations in that district most of the work was in the control of Cornish miners, who introduced the simplest of Cornish mills, namely, wooden stem pestles, with wooden shafts and cams. These were well suited to the small mines, and particularly to the limited means of transporting more expensive machinery. As these facilities improved, they were enabled to change to iron, and to vary their patterns of rods, shafts, cams, and mortars. The most approved pattern, finally obtained, is the square or round stem, with collar adjustable by means of keys. In its present form it is a bar of cold rolled shafting, an eye in the top, an adjustable collar with key-plate and keys, the head and a shoe of chilled iron. The stem is fitted into the head by a slight taper. The battery has heretofore been of wood, lined with chilled cast plates, and bed-plate of the same, but within the past year the California pattern has been introduced. The screens are of sheet-steel, drilled with 16 holes to the inch. During this period of trial and gradual improvement in the pestle stamps, in the years 1855-6, the Ball steam-stamps were intro¬duced, and after years of labor and expense, have been made the most efficient and powerful machines ever yet used for the purpose. It is ostensibly the Nasmyth steam-hammer, and yet the

Jan 1, 1874

Meeting of Apr. 23, 1915.-The Iron and Steel Committee was authorized in its discretion to defer the date of acceptance of papers for the Hadfield Research Prize to Nov. 1, 1916. The sum of $250 was appropriated as a guarantee fund to establish a Library Research Bureau in co-operation with the other Founder Societies. The sum of $50 was appropriated to the Puget Sound Section. The sum of $250 was appropriated to the San Francisco Section. The sum of $125 was appropriated to the St. Louis Section. The matter of memorializing the New York State Constitutional Convention was referred to the New York Section of the Institute with authority to act as a Section only. Upon recommendation of the Committee on Membership, 50 Mem¬bers, 1 Associate, and 6 Junior Members were elected.

Jan 6, 1915

By R. L. Watts

Successful mining of taconite has required the solution of a series of difficult problems, including more efficient magnetic separation. Progress in this field is evidenced by reductions in operating and capital costs made possible by the advances in permanent magnetic materials and in new circuits for better utilization of these materials. The advent of the flux control circuit appears to be one of the more important breakthroughs in permanent magnet drum design circuitry and has contributed greatly to the economics and metallurgical requirements of the modern day taconite concentrators. High strength permanent magnetic separators are now replacing electro types in many applications requiring field strengths of 900 - 1000 gauss measured at 2 in. This is made possible by the new circuits having gauss readings at 2 in. previously attained only by electromagnets.

Jan 12, 1967

CHARLES G. ROEBLING Charles Gustavus Roebling, president of the John A. Roebling's Sons' Co., of Trenton and Roebling, N. J., and of the New Jersey Wire Cloth Co., of Trenton, and vice-president of the John A. Roebling's Sons' Co., of New York, died at his home, No. 333 West State Street, Trenton, on Oct. 5, 1918. Mr. Roebling, who was born in Trenton, was a son of the John A. Roebling who finished the plans for the Brooklyn Bridge just before he died. The bridge was completed by his sons, Charles G. Roebling and Col. Washington A. Roebling. Upon graduation from the Rensselaer Polytechnic Institute in 1871, Charles Roebling became associated with the Roebling company as a mechanical engineer. He was engineer and builder of the suspension

Jan 12, 1918

An informal meeting of the Conferees of the Development Committees of the four Societies was held in New York on July 2, 1919, at which the scope of the work was considered, and a sub-committee oil Procedure, consisting of the chairmen of the Conferees from each of the four Societies, was appointed to arrange the program for and the time and place of the first formal meeting. The Conference subsequently adopted the name, " The Joint Conference Committee." The Joint Conference Committee convened at the Hotel Montclair, Montclair, N. J., Aug. 13, 14, and 15, and in New York, Sept. 15, 16, and 17, 1919. The Committee has divided its report into two parts, that covering the public activities and that covering the society activities of common interest to the four societies.

Jan 12, 1919

By E. B. Burwell, R. H. Nesbitt

A NEW milestone in the progress of photography and subsurface exploration was reached when the Chief of Army Engineers announced the development of the NX borehole camera. In obtaining continuous undistorted cylindrical color pictures of dry or water-filled borings the device surpasses all other cameras designed for photographing interior surfaces of pipes, wells, and conduits. The usefulness of the camera and the unique projector that comes with it are at once apparent. To the geological, mining, and civil engineer alike it signifies the end of guesswork with respect to underground conditions that have eluded identification by conventional core-drilling methods. To the medical profession it may well signal new progress in photo optics which could result in cylindrical color photographs supplementing the X-ray and existing photographic methods used in exploratory surgery.

Jan 8, 1954

Organization Place Date 1917 American Society of Sanitary Engineers Grand Rapids, Mich. Aug. 1-3 National Association of Stationary Engineers... Evansville, Ind. Sept. 10-15 National Safety Council New York City. Sept. 10-15 National Exposition of Safety and Sanitation. New York City Sept. 10-15 American Iron, Steel & Electrical Engineers..:. Philadelphia, Pa. Sept. 10-14 American Institute of Metals Boston, Mass. Sept. 24-29 American Foundrymen's Association Boston, Mass. Sept. 24-29 Chemical Industries, Third National Exhibition. New York City Sept. 24-29

Jan 8, 1917

New York Holds monthly meetings, except June, July and August JOHN A CHURCH, JR, Chairman JOSEPH E POGUE, Vice-chairman SIDNEY ROLLF, Vice-chairman EDWARD C MEAGHER Secretary, Texas Gulf Sulphur Co, 41 E 42nd St, New York M H MERRISS, Treasurer, 42 Broadway, New York ARTHUR NOTMAN T T READ Boston Meets first Monday of each winter month EDWARD C GEITHER, Chairman WILLIAMS BLACK, Vice-chairman DONALD H MCLAUGHLIN, Secretary-treasurer, Rotch Bldg, Harvard Univ, Cambridge, Mass J L GILLSON A G WAITD

Jan 1, 1923

By Persifor Frazer

The ore property of Mr. Augustus bop is situated about one and a half miles south of the New Windsor Station of the Western Maryland Railroad and is connected with the town of New Windsor by the Liberty and New Windsor Turnpike. It is about forty miles distant from Baltimore, and about seven miles west from the county town of Westminster, and a little more northeast from the celebrated Liberty Copper Mines. (See accompanying Map I and 2.) The property comprises about 140 acres, lying principally

Jan 1, 1881

By Persifor Frazer

TILE ore property of Mr. Augustus Roop is situated about one and a half miles south of the New Windsor Station of the Western Maryland Railroad and is connected with the town of New Windsor by the Liberty and New Windsor Turnpike. It is about forty miles distant from Baltimore, and about seven miles west from the county town of Westminster, and a little more northeast from the celebrated Liberty Copper Mines. (See accompanying Maps 1 and 2.) The property comprises about 140 acres, lying principally

Jan 1, 1881