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THE Institute assembled on Tuesday evening, October 24th, in the hall of the Franklin Institute, Mr. Frank Firmstone, Vice-President, in the chair. Mr.. J. Price Wetherill, of Tremont, Pa., read a paper on An Outline of Anthracite Coal Mining in Schuylkill County, Pa. The paper was discussed by Messrs. Coxe, Rothwell, Heinrich, Harden, and Symons. The second session was held on Thursday evening. Mr. A. L. Holley, Chairman of the International Committee, appointed by the Institute to consider the nomenclature of iron and steel, offered the following report of the committee, signed by all the members: WHEREAS, The recent production of soft, cast, malleable compounds of iron by the Bessemer, the Siemens-Martin, and the crucible steel processes appears to demand a new nomenclature of iron compounds, for the following reasons : 1st. The term "steel," by which these soft products are commercially and professionally designated in England and in the United States, does not completely distinguish them from previously existing "steel" which would harden and temper. 2d. A nomenclature recognized in all languages seems desirable, as well for commercial as for scientific purposes, especially as lawsuits, already commenced, depend on the meaning of the term "steel." 3d. Although homogeneity, due to fusion, is usually recognized, and is by this committee recognized as the most definite characteristic of both bard and soft steel, this quality may be equally well expressed in other terms, thus leaving the old term, "steel," to define the malleable compounds of iron, which will harden and temper. Therefore, resolved, That this committee recommends the following nomenclature : 1. That all malleable compounds of iron with its ordinary ingredients, which are aggregated from pasty masses, or from piles, or from any forms of iron not in a fluid state, and which will not sensibly harden and temper, and which generally resemble what is called " wrought iron," shall be called WELD IRON (German, Sehweisseisen; French, fer soudé) 2. That such compounds, when they will from any cause harden and temper, and which resemble what is now called "puddled steel," shall be called WELD STEEL (German, Schweiss stahl; French, acier soudé).

Jan 1, 1877

By L. A. Shipman

The combustion of coal in fuel beds has been practiced as an art for many years; during the last 2 7 years a scientific approach to this subject has contributed a small amount of fundamental data. The subject is a very controversial one. Opinions regarding the performance of the same coal used in the same equipment in different plants may vary from "the best coal ever used in the plant" to "the worst coal ever tired." These opinions can all be true, owing to the various conditions under which the coal was used. Because of these differences, an attempt will be made in this paper to discuss coal facts and coal characteristics as related to the use phenomena observed during the art of firing coal in fuel beds for many years. The work of Kreisinger1 and his associates in the 1,'. S. Bureau of Mines, reported in 1916, was the first scientific attempt I know of to obtain factual data explaining the mechanism of combustion of fuel beds. They gave a chart showing an ignited fuel bed. The air passing up through the fuel bed first combined with the fuel by a reaction resulting in the complete combustion of carbon to CO2, which combined with the carbon in higher levels of the fuel bed to form CO with the absorption of heat. The fundamental facts produced in those experiments proved of much value and checked with practical experiences with hand-fired fuel beds. Hand firing was the prevailing method of stoking coal at that time. The order in which these reactions occur, as shown by Kreisinger and his associates, has been amply confirmed by repetition of this work with different fuels both her? and abroad. These experiments also showed that under their conditions the rate of burning was proportional to the air flow. These data were of practical value to a fireman and were accepted as generally true in all fuel beds. In later years many observations by myself in fuel beds of underfeed stokers and other thick fuel beds such as gas producers, where channeling. increase of particle size, or both, occur. indicated that, instead of the horizontal layers we had thought were present, perhaps the layers were vertical or irregular. Later investigations in fuel beds made by Mayers2 and Barnes3 indicated that the burning takes place in some instances along the surfaces of vertical or irregular channels or cracks in the fuel bed and that under these conditions a reaction occurs that differs from that in the old horizontal-layered handfired fuel beds. Examining the data in Kreisinger'sl experiments, and the information in different charts with different fuels, different retort positions and air admissions of Barnes3 and the gas analysis arid isotherms of Mayers,2 one can check experience observation and come to a conclusion that as particle size of the fuel increases with other conditions the same, the maximum CO2 and temperature

Jan 1, 1947

By L. A. Shipman

The combustion of coal in fuel beds has been practiced as an art for many years; during the last 2 7 years a scientific approach to this subject has contributed a small amount of fundamental data. The subject is a very controversial one. Opinions regarding the performance of the same coal used in the same equipment in different plants may vary from "the best coal ever used in the plant" to "the worst coal ever tired." These opinions can all be true, owing to the various conditions under which the coal was used. Because of these differences, an attempt will be made in this paper to discuss coal facts and coal characteristics as related to the use phenomena observed during the art of firing coal in fuel beds for many years. The work of Kreisinger1 and his associates in the 1,'. S. Bureau of Mines, reported in 1916, was the first scientific attempt I know of to obtain factual data explaining the mechanism of combustion of fuel beds. They gave a chart showing an ignited fuel bed. The air passing up through the fuel bed first combined with the fuel by a reaction resulting in the complete combustion of carbon to CO2, which combined with the carbon in higher levels of the fuel bed to form CO with the absorption of heat. The fundamental facts produced in those experiments proved of much value and checked with practical experiences with hand-fired fuel beds. Hand firing was the prevailing method of stoking coal at that time. The order in which these reactions occur, as shown by Kreisinger and his associates, has been amply confirmed by repetition of this work with different fuels both her? and abroad. These experiments also showed that under their conditions the rate of burning was proportional to the air flow. These data were of practical value to a fireman and were accepted as generally true in all fuel beds. In later years many observations by myself in fuel beds of underfeed stokers and other thick fuel beds such as gas producers, where channeling. increase of particle size, or both, occur. indicated that, instead of the horizontal layers we had thought were present, perhaps the layers were vertical or irregular. Later investigations in fuel beds made by Mayers2 and Barnes3 indicated that the burning takes place in some instances along the surfaces of vertical or irregular channels or cracks in the fuel bed and that under these conditions a reaction occurs that differs from that in the old horizontal-layered handfired fuel beds. Examining the data in Kreisinger'sl experiments, and the information in different charts with different fuels, different retort positions and air admissions of Barnes3 and the gas analysis arid isotherms of Mayers,2 one can check experience observation and come to a conclusion that as particle size of the fuel increases with other conditions the same, the maximum CO2 and temperature

Jan 1, 1947

By N. J. Grant, Hans Brunner

ThE materials used in this investigation were furnished by the Aluminum Co. of America and consisted of high-purity alurhinum (99.995 pct) and two aluminum-magnesium alloys containing approximately 2 and 5 pct Mg. The compositions of these alloys are listed in Table I. The materials were received as hot rolled 3/8-in. diam rods and were made from the same heats as the materials which were previously used in this laboratory.'j3 The rods were cold swaged to 1/4-in. diam by 1 in. long, and then had two parallel flats machined over the gage length 0.085 in. apart. The test bars were annealed for 10 min at 700° F, and strained 1 pct in tension at room temperature. They were electropolished (80 pct acetic acid; 20 pct perchloric acid, 70 pct concentration) at a temperature of 60°F at approximately 20 v. A grid, transverse or square, spaced 0.2 mm apart, was impressed by rolling a fine threaded screw (128 threads per in.) across the flat surfaces. The depth of the grooves was less than 5 p. For final annealing and grain size control the specimens were enclosed in aluminum foil and sealed in Vycor tubes. Annealing conditions varied from 1 hr at 700° F to 5 days at 1050° F, depending on the alloy content, to give for most of the specimens a final grain size of about 1 mm. This treatment was followed by electropol-ishing as described above. For the test series presented in Figs. 4 and 5 round specimens were used instead of flat ones, and fine machining marks served as marker lines instead of the impressed grid lines. Electropolishing was omitted. The major advantage is that the spacing of the machining marks is only about 1 u as compared to the 200 u of the impressed grid lines, permitting higher precision in strain measurements. Unfortunately the strain annealing necessary for grain size control also resulted in some preferred orientation of the grains. The preferred orientation of three arbitrary specimens was measured by X-ray diffraction methods and the averaged results are shown in Fig. 1. The possible effects of the preferred orientation on the test results will be discussed later. The testing temperatures were 410°, 515", 725", and 940° F, with one exception in the case of the 5.1 pct Mg alloy. Since the solubility limit of this alloy is 520°F, a test temperature of 545°F was cho-se sen instead of 515°F. The selection of the test temperature was based on two considerations: 1) at 900°F and above, extensive grain boundary migration made it more difficult to measure grain boundary sliding; 2) at 400°F and below, there was so little grain boundary sliding that it was again difficult to make precise measurements. The stress was chosen to give a creep rate of approximately 2.7 pct per hr in connection with Figs. 2

Jan 1, 1961

By H. W. Schreiber, G. R. Castle

INTRODUCTION The small mining company faces the dilemma of how to finance the development of its properties. Many of these small companies don't have the financial resources to pay for development costs from their own funds and frequently they do not even have the financial strength to permit them to borrow the money needed for development. A project financing can sometimes be arranged in such a way as to solve this dilemma. A typical project financing will not provide the answer to the "little guy's" problem because most project financings require that the sponsors of the project provide completion undertakings and sometimes other undertakings. These undertakings are often a prerequisite to obtaining financing, and if the sponsor is not financially strong enough to provide the comfort that the lenders require, then the sponsor will have difficulty obtaining financing no matter what undertakings are offered. However, with a little imagination and the right set of circumstances, a project financing can sometimes provide the solution to the small mining company's problem. The Strathcona Sound Project is unusually suited as a case study because the sponsor, Mineral Resources International Limited,(MRI) was able to arrange a project financing for the development of the project even though the lenders probably would not have been willing to loan a similar amount of money direct to MRI based on the full faith and credit of MRI's balance sheet. The way that MRI was able to arrange this financing makes for an interesting story. THE CASE In early 1974, MRI owned 100% of a small to medium sized zinc - lead - silver massive sulfide deposit (Property) located 475 miles north of the Arctic Circle less than two miles from deep water on Strathcona Sound which is a shipping zone in the Canadian Arctic. The Property was situated at a desolate location except for an Eskimo settlement (Arctic Bay) which was about 20 miles west of the Property. In other words, the project required that complete infrastructure would need to be installed in this far northern location. Independent reserve and feasibility studies (Study) had been completed on the Property which confirmed a total of 6,825,000 tons of reserves classified and summarized as shown below on Table I: [ ] These reserves were based on 229 diamond drill holes totalling 58,909 feet and were established on a cut-off grade of 7% zinc and a minimum mining height of seven feet. The overall mining recovery rate was estimated at not less than 85% and not more than 90%. The feasibility study indicated that it would cost an estimated $45,044,000 to develop an underground mine, a concentrator, a town-site, a power plant, storage facility, loading dock, a tailings disposal area and an airstrip on the Property with an annual capacity of 525,000 tons of ore per year. The construction period was expected to take two years and projected capital costs were broken down as set forth below on Table II:

Jan 1, 1985

I. PRESIDING OFFICER, At all business meetings of the Institute the President, or, in his absence, the First Vice-President, or, in the absence of both of them, any other Vice-President or Director, chosen by the meeting, shall preside. At all other meetings of the Institute the President, or, in his absence, one of the Vice-presidents shall preside. If none of these be present the meeting shall elect a Chairman. The President shall do and perform such other duties as may from time to time be assigned to him by resolution of the Board of Directors of the Institute. II. ORDER OF BUSINESS. At each business meeting of the Institute the order of business shall be as follows: 1. Reading of minutes of preceding meeting. 2. Report of the President, 3. Report of the Treasurer. 4. Report of the Secretary. 5. Election of Directors. 6, Reports of Standing Committees. 7. Reports of Special Committees. 8. Special Orders. 9. Miscellaneous business. This order of business may be changed at any meeting, by a vote of a majority of the Members and Associates present. At all sessions of the Institute, other than business meetings, the order of proceedings and the time of adjournment shall rest in the discretion of the presiding officer. III. SECRETARY OF THE INSTITUTE. The Secretary shall keep a record of the proceedings of all the meetings of the Institute, He shall be custodian of the corporate seal, of the minute books and of all the legal documents belonging to the Institute. He shall have charge on behalf of the Institute of all correspondence. He shall notify all Officers and Directors and all members of committees of their election and appointment; shall issue notices of all meetings of the Board, and of the annual and other business meetings of the Institute; and shall, in calling special meetings of the Directors, specify the objects of such meetings. He shall act as clerk at all the meetings of the Board of Directors and at all meetings of the Institute, The Secretary shall be custodian of all technical or scientific papers submitted to the Institute for its consideration and shall have general charge and supervision of the editing and proof-reading of all material published by the Institute, and of the distribution thereof. The Secretary shall be the custodian of all back numbers of the Transactions and other publications of the Institute. There shall be kept under his direction an account in ledger form of all such back numbers, He shall on the first day of January of each year submit to the Library Committee a statement of the number of copies of Transactions, magazines and other publications printed during the preceding year, giving the number distributed and remaining undistributed; also a statement covering additions to and withdrawals from the total stock of Institute publications, with the number 'remaining on hand at date of statement,

Jan 1, 1928

By E. H. Burdick

THE difficulties inherent in table concentration operations as applied to gold, silver, lead and zinc ores, are accentuated in the scheelite mill, which has a flowsheet that is similar in general principles. The narrow "spread" in the specific gravity between scheelite and the usual gangue in which it occurs often makes its clean separation extremely difficult and in some cases impracticable. The problem is further complicated by the extreme friability of the mineral and its inordinate tendency to "slime," particularly where fine grinding is necessary and wet grinding methods are employed. The physical aspect of the occurrence of scheelite in the ores, the kind and character of the rock in which the mineral is present, its hardness, friability and the specific gravity of its constituents, as well as like characteristics of the associated minerals-pyrite, pyrrhotite, sphalerite, and others, all have a bearing on the successful milling of crude ores and the production of a concentrate that is marketable with minimum price penalty or none at all. Most tungsten deposits are considered low grade when the limiting factor of low percentage recovery by gravity methods is borne in mind. The great majority of deposits developed or in process of development carry from 0.4 to 1.0 per cent tungstic oxide. Ore carrying I per cent is considered good grade; 0.7 to 0.8 per cent, fair, and below that figure, low grade. Steady mill feed averaging upward of 1.0 per cent W03 is exceptional. Inasmuch as buying specifications demand a 60 per cent W03 content, the mineral content of the ores as mined must be concentrated to at least that degree. A few companies have constructed chemical plants for the treatment of their complex concentrates and low-grade flotation product, but the smaller operator must rely on table concentration, borrowing the tools and to a large extent the methods of his predecessors in the gold, silver, lead and zinc mills. Whether these are the best tools and methods that can be devised is an open question. Except in rare instances, table concentration, however carefully conducted, does not yield a satisfactory final recovery of the mineral content in headings as indicated by chemical determinations of tungstic oxide content. A saving of 60 to 65 per cent is considered fair, and an average 80 per cent recovery, exceptional. Each scheelite ore body is a separate problem. Details of handling that give best results in one case may not be successfully operative at a property on the same contact zone and but a short distance removed. Supplementary treatment of tailings by flotation may be successful in producing a low-grade concentrate of around 15 per cent WO3, which is adapted to further treatment chemically at a given property and entirely unsuccessful at another. This problem constitutes another of the unanswered questions. The following paragraphs relate solely to the beneficiation of scheelite ores by table concentration and supplementary methods.

Jan 1, 1942

By AIME AIME

FEW indeed are the sections of the country where trained or partly trained workers have not already been hired by a war industry plant or will be within the near future. Yet right in the midst of the heavily industrialized East lies the anthracite area, home of a million people, whose productive power has persistently been by-passed either by private industry or by the Government Plant Site Board. The chief reason given for not locating war plants in the area is that it is not within the strategic zone, but in numerous instances elsewhere this rule has been waived. Furthermore, the anthracite region is well protected on all sides by mountains and is at all points more than 100 miles inland. Continued depression in the anthracite industry and a crippling blow dealt by the war emergency to the production of silk and rayon goods, the chief manufacturing activity of the area, have resulted in a heavy migration, particularly of trained young workers, into near-by industrial areas. At least 50,000 people are currently unemployed, with the likelihood of an increase in coming months, and as many families are on relief.

Jan 1, 1942

By Martin S. Maier, H. R. Nelson

THE diffusion of metals plays an important role in many metallurgical processes, 1,2 as, for example, the formation of alloys by the annealing of mixed powders, the homogenization of segregated alloys, and the carburization of steel. Other equally important phenomena, such as recrystallization and creep, are based on the movement of like atoms. Although much is known concerning the effects of diffusion in metals, very little is known concerning the details of the physical processes involved.1,3-5 The data that should give most information concerning the processes involved in diffusion are those on the diffusion of like atoms-self-diffusion. Very little is known concerning the rates of self-diffusion of metals because before the discovery of artificial radio-activity in 1934 there was no means of detecting the movement of the diffusing atoms through the solvent metal except in the elements possessing natural radioactive isotopes-lead, thallium and bismuth. Using the induced radioactivity of the element as an indicator, atoms can now be "tagged" so that the rate of diffusion of the radioactive isotopes of an element (tagged atoms) into the stable isotopes of the same element can be measured. As the radioactive and stable isotopes of an element differ only in nuclear structure, it is quite certain that all isotopes of an element diffuse at the same rate. Two techniques have been used to measure self-diffusion. In one, a thin layer of radioactive metal is deposited on the face of the solvent metal, and the decrease in the surface activity as the radioactive atoms diffuse into the solvent metal is measured. This method has been used to determine the coefficients of self-diffusion of lead6-10 and bismuth10 using natural radioactive isotopes, and of gold11 and copper12 using artificial radioactive isotopes. In the other technique a thin layer of the radioactive metal is deposited on one face of the solvent metal, and after diffusion has occurred the specimen is cut in thin sections to obtain the concentration-penetration curve. This method has been used to determine the coefficients of self-diffusion of gold,13 zinc, 14-16 silver,17 and copper.18 The second method was used for the work described in this paper. MATERIALS The coefficients of self-diffusion were determined in two grades of polycrystalline copper and in single crystals of copper. Commercial OFHC copper was used in the form of disks I in. in diameter by 1/8 in. thick. Samples of high-purity copper described by Phillips and Skinner19 were supplied through the courtesy of the American Smelting and Refining Co. The high-purity copper rod was used without remelting by cross-rolling to a thickness of 0.075 in., from which disks 7/8 in. in diameter were cut. A good grade of bus-bar copper was used to make the single crystals.

Jan 1, 1942

By G. H. Anderson

Cadmium-coppeR precipitate, a byproduct of the purification stage of the zinc plant, is composed mainly of zinc, cadmium and copper in varying amounts depending on the efficiency of precipitation and the cadmium and copper contents of the impure solution treated. The composition range is approximately: cadmium 10-12 pct, copper 6-8 pct, and zinc 3&35 pct. As received at the cadmium plant, the precipitate is a dark gray to black press cake produced by filter pressing the flocculent cadmium-copper precipitate formed when impure zinc solution is agitated with zinc dust. The details of the cadmium-copper precipitation are to be found in the paper "Electrolytic Zinc at Risdon, Tasmania," by W. C. Snow. Transactions AIME, 121, 501. The treatment, in addition to recovering cadmium as metal, yields a copper product as a residue for realization and recovers in solution for return to the zinc plant, the excess of zinc dust used during purification. The recovery of cadmium metal is approximately 200 tons† per year, but, with the amount of copper residue recovered, varies with the zinc production tonnage, composition of the original concentrates, degree of roasting and other operational factors. The operations involved in the recovery of the foregoing materials are carried out in a building adjacent to the purification section of the zinc plant and can best be described by dividing the process into the following stages: 1. Oxidation and Grinding of the cadmium-copper precipitate. 2. Leaching and Filtering. 3. Precipitation of cadmium. 4. Oxidation and Grinding of the precipitated cadmium. 5. Leaching oxidized cadmium precipitate and Purification of leach solution. 6. Electrolysis. 7. Melting, Casting and Packing. A feature of the process is the use of two distinct solution circuits. Spent electrolyte from the zinc plant circuit containing about 10 pct sulphuric acid is used as the primary solvent of the cadmium and zinc present in the oxidized precipitate. When the cadmium is later separated by precipitation and filtering, the filtrate, originally zinc plant spent electrolyte and now fortified in zinc, is returned to the zinc plant. The precipitated cadmium, after oxidation, is redissolved in spent electrolyte from cadmium electrolysis which solution is in closed circuit within the cadmium plant except for discards to the zinc plant circuit as mentioned in Section 5 hereinafter. (Fig 1.) Details of the various operations follow. I. Oxidation and Grinding of the Cadminm-copper Precipitate The precipitate having had a preliminary drying by compressed air in Dehne filter presses in the zinc plant is trucked to a storage platform of sufiicient length to store 3 to 4 days' production separately. After 48 hr exposure to atmosphere, oxidation is sufficient to enable all cadmium and zinc but only a portion of the copper to be dissolved in dilute sulphuric acid. The oxidized precipitate is shovelled into trucks and, after weighing and sampling, is broken in size by means of

Jan 1, 1950

By F. B. Eiseman

IT is desired -to determine the effect of the extent of bank repairs on the final slag volume in acid electric steel-melting practice. It is understood that the repairs stud- TABLE I-Summary of Effect of Bank Repairs on Slag Volume [ ] ied here are necessary and the amount of sand added is that needed to maintain hearth and banks in a satisfactory condition. In this way the effect of repair materials on the amount of slag tapped would be found with a reasonable degree of accuracy. Ten heats were made for this study with careful attention to a uniform charge. The steel was the usual grade B and melting was carried out in a 3 1/2-ton top-charge Lectromelt furnace. Melting practice in all cases was the same-complete oxidation, with recarbonization by means of low-silicon pig iron.

Jan 1, 1947

By V. R. Garfias, R. V. Whetzel, J. W. Ristori

Since the entry of the United States into global war, virtually all data and information necessary for compiling figures on world petroleum consumption have become unavailable. This situation undoubtedly will continue until the world petroleum industry can return to a peacetime basis. During the past 10 years, the authors, by publishing annual estimates of .world consumption, have attempted to emphasize the importance of a yearly world-wide survey of petroleum supply and demand. It is beconling more and more evident that statistics for the United States alone can no longer give a comprehensive idea of the state of the petroleum industry, even within the United States itself. Therefore, when conditions in the industry again become normal, it is the hope of the authors that those bureaus equipped to do so will carry forward the study of petroleum supply and demand on a world-wide basis. Enough data and information are available, however, to attempt a rough estimate of world output of crude petroleum and petroleum substitutes for 1942, which to some extent may reflect the trend of world consumption. This estimate by countries, as compared with the output in 1941, is shown in Table I. The world production of crude petroleum and petroleum substitutes for 1942 is estimated at 2,208,000,000 bbl., or a decrease of 171,000,000 bbl. under 1941. Crude production is believed to have decreased by about 200,000,000 bbl., (about 9 per cent); while petroleum substitutes increased by 28,500,000 bbl., (nearly 20 per cent). The decline of crude output in the United States is estimated at 19,000,000 bb1.—less than 2 per cent; while that in foreign countries is estimated at 180,000,000 bbl., or more than 20 per cent. The marked decline abroad is due largely to losses in Venezuela and Colombia, where the lack of ocean transportation became the controlling factor, and in the East Indies and Burma, where military invasion brought about the destruction of the fields. The production of petroleum substitutes in 1942 apparently reached a new high figure of 7.5 per cent of the total world petroleum output. The important features of petroleum production outside of the United States are the changes that have taken place during the year in the supply of the Axis countries. In Japan the output for 1941 was estimated at 8,800,000 bbl., 5,500,000 of which were petroleum substitutes. It is believed that the output of synthetic oils during 1942 substantially increased, raising the total interior production of Japan to nearly 10,-ooo,ooo bbl. Also, during 1942 Japanese armed forces gained possession of oil fields having a normal peacetime output of about 78,000,000 bbl. per year. The production of these areas for 1942 is estimated at some 23,000,000 bbl., which indicates that Japan is now getting at least 33,000,000 bbl. a year, which exceeds by 8,000,000 bbl. Its

Jan 1, 1943

By J. W. Ristori, V. R. Garfias, R. V. Whetzel

Since the entry of the United States into global war, virtually all data and information necessary for compiling figures on world petroleum consumption have become unavailable. This situation undoubtedly will continue until the world petroleum industry can return to a peacetime basis. During the past 10 years, the authors, by publishing annual estimates of .world consumption, have attempted to emphasize the importance of a yearly world-wide survey of petroleum supply and demand. It is beconling more and more evident that statistics for the United States alone can no longer give a comprehensive idea of the state of the petroleum industry, even within the United States itself. Therefore, when conditions in the industry again become normal, it is the hope of the authors that those bureaus equipped to do so will carry forward the study of petroleum supply and demand on a world-wide basis. Enough data and information are available, however, to attempt a rough estimate of world output of crude petroleum and petroleum substitutes for 1942, which to some extent may reflect the trend of world consumption. This estimate by countries, as compared with the output in 1941, is shown in Table I. The world production of crude petroleum and petroleum substitutes for 1942 is estimated at 2,208,000,000 bbl., or a decrease of 171,000,000 bbl. under 1941. Crude production is believed to have decreased by about 200,000,000 bbl., (about 9 per cent); while petroleum substitutes increased by 28,500,000 bbl., (nearly 20 per cent). The decline of crude output in the United States is estimated at 19,000,000 bb1.—less than 2 per cent; while that in foreign countries is estimated at 180,000,000 bbl., or more than 20 per cent. The marked decline abroad is due largely to losses in Venezuela and Colombia, where the lack of ocean transportation became the controlling factor, and in the East Indies and Burma, where military invasion brought about the destruction of the fields. The production of petroleum substitutes in 1942 apparently reached a new high figure of 7.5 per cent of the total world petroleum output. The important features of petroleum production outside of the United States are the changes that have taken place during the year in the supply of the Axis countries. In Japan the output for 1941 was estimated at 8,800,000 bbl., 5,500,000 of which were petroleum substitutes. It is believed that the output of synthetic oils during 1942 substantially increased, raising the total interior production of Japan to nearly 10,-ooo,ooo bbl. Also, during 1942 Japanese armed forces gained possession of oil fields having a normal peacetime output of about 78,000,000 bbl. per year. The production of these areas for 1942 is estimated at some 23,000,000 bbl., which indicates that Japan is now getting at least 33,000,000 bbl. a year, which exceeds by 8,000,000 bbl. Its

Jan 1, 1943

By Thomas P. Bispham

INTRODUCTION From the lender's point of view, the greatest period of risk in a project financing occurs during the construction phase. Therefore, most projects are supported during this phase by completion guarantees supplied by some credit-worthy entity; for example, the project sponsors in the case of a joint venture, such as that of W.R. Grace, Hanna Mining, and Liberty Capital; or by a strong contract with a utility or foreign importer/investor, such as the way North American Coal Corporation has structured many of its transactions. THE PROJECT LOAN REQUEST A project financing is a more complex form of term loan than one using an ongoing corporation's balance sheet as a credit base and, therefore, a potential lender will subject the loan request to a more rigorous analysis. To support this effort, the financial institution will require a more detailed information memorandum to evaluate the credit and technical risks of a project - especially since much of the necessary information is not otherwise available. (See also Gibbs and Sroka paper above in this Chapter) A well-prepared information memorandum will impress prospective lenders with the planning ability and general competence of management. Also, the process of preparing the memorandum will help management understand the true extent of the opportunities and limitations of its venture. Appendix A outlines the topics which comprise a complete information memorandum for a loan request. Of some interest to those seeking to sell a currently-operating mining venture, a similar information memorandum should be prepared i.e., covering the same topics discussed here, for the investment banker to use with potential purchasers. For that purpose, though, one might not want to prepare quite as much detail as for a lender. Appendix B outlines the elements of a reserve evaluation and feasibility study, often called the "Bankable Document." Usually, these studies are prepared by independent engineering consultants for use by potential borrowers and sellers. (Potential purchasers will often contract for a similar study for their use in evaluating an acquisition.) ELEMENTS OF A LOAN INFORMATION MEMORANDUM 1. Outline: The information memorandum should begin with a one-page outline covering such topics as: a. The borrower's name, address, and phone number. b. Principal contact at the borrower. c. Amount of the proposed financing. d. Desired pricing and structure of the proposed financing. This should include a description of the amount and source of equity in the proposed financing. e. Use of the proceeds and timing. 2. Summary: The most important information contained in the memorandum should be summarized in two pages. Note - If the borrower is a recently-formed single-purpose company, then elements 3, 4, and 5 will apply to the guarantors of completion and to the project sponsors. 3. The Borrower: This section is a brief biography of the borrower including such topics as date and state of incorporation, founder(s), lines of business, etc. 4. Capitalization: The borrower's current debt and equity position, including leases and trade debt, with amounts, terms, names, and addresses enumerated. Equity owners, and percentage ownership, should be identified. 5. Historical Financial Statements: If available, a minimum of five year's worth of complete historical financial statements

Jan 1, 1985

THE Institute assembled on Tuesday evening, October 24th, in the hall of the Franklin Institute, Mr. Frank Firmstone, VicePresident, in the chair. Mr. J. Price Wetherill, of Tremont, Pa., read a paper on An Outline of Anthracite Coal Mining in Schuylkill County, Pa. The paper was discussed by Messrs. Coxe, Rothwell, Heinrich, Harden, and Symons. The second session was held on Thursday evening. Mr. A. L. Holley, Chairman of the International Committee, appointed by the Institute to consider the nomenclature of iron and steel, offered the following report of the committee, signed by all the members: WHEREAS, The recent production of soft, cast, malleable compounds of iron by the Bessemer, the Siemens-Martin, and the crucible steel processes appears to demand a new nomenclature of iron compounds, for the following reasons: 1st. The term "steel," by which these soft products are commercially and professionally designated in England and in the United States, does not completely distinguish them from previously existing "steel which would harden and temper. 2d. A nomenclature recognized in all languages seems desirable, as well for commercial as for scientific purposes, especially as lawsuits, already commenced, depend on the meaning of the term " steel." 3d. Although homogeneity, due to fusion, is usually recognized, and is by this committee recognized as the most definite characteristic of both hard and soft steel, this quality may be equally well expressed in other terms, thus leaving the old term, " steel," to define the malleable compounds of iron, which will harden and temper. Therefore, resolved, That this committee recommends the following nomenclature : 1. That all malleable compounds of iron with its ordinary ingredients, which are aggregated from pasty masses, or from piles, or from any forms of iron not in a fluid state, and which will not sensibly harden and temper, and which generally resemble what is called " wrought iron," shall be called Weld Iron (German, Schweisseisen; French, fer soudé). 2. That such compounds, when they will from any cause harden and temper, and which resemble what is now called puddled steel," shall be called Weld Steel (German, Schweiss stahl; French, acier soudé).

By C. A. Stetefeldt

In my paper on "The Refining of Sulphides Obtained in the Lixiviation-Process with Hyposulphite Solutions," read at Cleveland, June, 1891 (Trans., xx., 37), I recommended the Roessler converter

Jan 1, 1893

By R. G. Treuting, W. C. Ellis

The twinned state is characterized by a lattice of coincidence sites. Imperfections are required at stable lateral twin interfaces. Twinned regions can occur with relative ease in the diamond cubic IN recent contributions1,2 on the origin and growth of cubic annealing twins, attention has been directed to the orientation relations between such twinned components and their parent matrix. There are some aspects of twinning which may be illuminated by a more detailed consideration of the twinned state" alone. As an extreme example, the dense twinning in cast ingots of germanium,&apos; as contrasted with the rarity of twins in cast face-centered cubic metals, is yet to be accounted for. It has been this that has led us to the present work, which, it will be noted, uses methods and constructions in many respects similar to those of Kronberg and Wilson.&apos; In the cubic systems, a 70" 32&apos; rotation about a <110> axis is angularly equivalent, as to twinning, to the more usually considered 180" rotation about a <111> axis. Figs. 1 and 2 show a (110) projection of a twinned face-centered cubic lattice and a twinned diamond cubic lattice. In both figures, the two adjacent planes A and B, shown by the larger and smaller circles, are sufficient to represent the entire array. In each case a section of lattice, the original atom sites of which are shown by open circles, has been rotated as indicated through 70" 32&apos; to bring an original. [112] direction into coincidence with the [112] diiection. The latter is the intercept on the (110) projection of the (ill) plane normal thereto, the twinning plane. In the face-centered cubic case the rotation can be performed about an axis passing through an atom-site; the mirror plane then is also a composition plane containing atoms common to both twinned and untwinned lattices. The diamond cubic lattice may be construed as two interpenetrated face-centered lattices. Its (111) planes recur in a sequence of alternately short and long interspacings. Consequently a mirror plane for twinning cannot be a composition plane, but must be the bisector of one of the spacings. When the longer spacing is selected, the closest distance of approach across the mirror plane in the [ill] direc- tion is identical with that in the untwinned structure. In each case periodically recurring (ill) planes (parallel with the twinning plane) are found, on which there is coincidence of atom sites of the pre-twinned and twinned orientations; these are indicated by the cross-hatched circles. In the face-centered lattice there is such coincidence every third (ill) plane; in the diamond cubic lattice, on two adjacent planes in every six. At the twinning interface in the latter, there is on each side of the mirror plane a (ill) plane of atoms common to both twin components. Conceivably, there is little influence on a plane of atoms about to be adhered to such a pair of coincidence planes, whether it be laid down in a normal or in a twinned position with respect to the previously formed structure. Slawson% as attributed the high incidence of twinning in diamond to this boundary state. Further examination shows that the motion of intermediate planes can consist of various pairs of equal and opposite translations, for example of (ill) planes in the [l&apos;;i2) direction, the familiar twinning shear, indicated in the small schematics in the figures. Since the translations form a system of shears of alternating sign between coincidence planes, twinning could take place by such a mechanism over an extended region without extensive shear; in fact, in this case any atom moves but the distance in the [1i2] direction. One alternative construction for the face-centered cubic lattice leading to the same end result is illustrated in Fig. 3. The plane (711) with respect to the pretwinning orientation (the twinning plane of Fig. 1) is given, the twinned region arbitrarily bounded by <110> and <112> directions. The coupled shear is identical to that of Fig. 1. The "rotational" movement about coincidence sites generating the same twinned position could consist as shown of the translation a,/d% for each atom of a group of three in the B layer in a different one of the three <112> directions, and a similar translation of the underlying three atoms in the C layer in either the same or the opposite sense. This is not dissimilar to Kronberg and Wilson&apos;s construction for their 22" rotation of three adjacent (111) planes.

Jan 1, 1952

By Galen H., Clevenger

THE first and most important thing that affects the majority of lead producers in the Rocky Mountains and the western mining regions is that zinc in an ever-increasing degree is inseparably associated with the lead. The Sullivan mine in British Columbia is not only a great lead mine, but also a great zinc producer. This mine could not reach its full measure of productiveness, nor was its great value established, until a reasonably good physical method was developed for separating the lead from the zinc prior to the recovery of each metal by an appropriate process. The western metallurgists and also metallurgists in other parts of the world have long faced the lead-zinc problem. This for many years stimulated a great deal of experimental work looking toward the development of a physical or chemical method of separating lead and zinc in concentrated form from complex ores. Space will not permit of going into this work in detail, but it is sufficient to say that with but few exceptions the western lead smelter continued smelting charges many times too high in zinc for the most efficient operation of lead furnaces. The zinc was not only lost, as the zinc content of many a western slag dump bears mute testimony, but the cost of lead smelting was increased by reason of the presence of the zinc. The owner of the ore under these circumstances could be paid nothing for the zinc and, indeed, he was penalized for it

Jan 1, 1926

By J. Morgan Clements

Petroleum has been known in Japan since at least 668 A. D., for a picture shows the presentation, during that year, to the Emperor Tenchi (Tenji) of "burning water" and (&apos;burning earth" by his subjects from Echigo Province, which today is the largest producer of petroleum in Japan. The burning water was doubtless petroleum and the burning earth either bituminous shale or oil-soaked earth or rock from near the oil seepages. The early methods of getting the oil were simple and similar to methods used today in Japan and in China. Where the seepages occurred, trenches or shallow wells were dug along the seepages and allowed to fill with oil, which was then bailed out; in some cases, they filled with oil and water and overflowed. During the 300 years following 1500 A. D., the use of petroleum in Echigo Province seems to have increased considerably, as compared with earlier centuries, and records show that in 1818 the depth of the wells had been greatly increased. Doubtless, they passed through the seepages and tapped the shallow oil-bearing strata; probably some of these deeper wells were dug before that time. The real value of petroleum was not recognized until early in the Meiji era, which began in 1868, when the Japanese learned that the kerosene that was being imported was derived from petroleum. Guided solely by information obtained from books, they refined the oil and increased the depth of their wells in order to increase the production. The deepest well, dug by hand, about this time was 894 ft.&apos; (273 m.) and by 1874 the recorded production reached 3499 barrels. In 1876, Benjamin Smith Lyman prepared geological maps of the Echigo oil field, which were the first of such geological maps made in Japan, and based on these a more enlightened development of the oil fields began; the Japanese, however, still dug the wells by hand. Toward the end of the &apos;80s) an American well-drilling outfit was secured, but the efforts to use it failed from lack of experience by the operators. In 1888, a complete well-drilling outfit was purchased and American oil-well

Jan 1, 1923

By J. Morgan Clements

Petroleum has been known in Japan since at least 668 A. D., for a picture shows the presentation, during that year, to the Emperor Tenchi (Tenji) of "burning water" and (&apos;burning earth" by his subjects from Echigo Province, which today is the largest producer of petroleum in Japan. The burning water was doubtless petroleum and the burning earth either bituminous shale or oil-soaked earth or rock from near the oil seepages. The early methods of getting the oil were simple and similar to methods used today in Japan and in China. Where the seepages occurred, trenches or shallow wells were dug along the seepages and allowed to fill with oil, which was then bailed out; in some cases, they filled with oil and water and overflowed. During the 300 years following 1500 A. D., the use of petroleum in Echigo Province seems to have increased considerably, as compared with earlier centuries, and records show that in 1818 the depth of the wells had been greatly increased. Doubtless, they passed through the seepages and tapped the shallow oil-bearing strata; probably some of these deeper wells were dug before that time. The real value of petroleum was not recognized until early in the Meiji era, which began in 1868, when the Japanese learned that the kerosene that was being imported was derived from petroleum. Guided solely by information obtained from books, they refined the oil and increased the depth of their wells in order to increase the production. The deepest well, dug by hand, about this time was 894 ft.&apos; (273 m.) and by 1874 the recorded production reached 3499 barrels. In 1876, Benjamin Smith Lyman prepared geological maps of the Echigo oil field, which were the first of such geological maps made in Japan, and based on these a more enlightened development of the oil fields began; the Japanese, however, still dug the wells by hand. Toward the end of the &apos;80s) an American well-drilling outfit was secured, but the efforts to use it failed from lack of experience by the operators. In 1888, a complete well-drilling outfit was purchased and American oil-well

Jan 1, 1923