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By WALTER M. DAKE

WITH the renewal of the contract between bituminous miners and operators, whereby a period of three years is assured without the devastating effect of irregularity of operation due to general strikes; and, with the increasing comprehension on the part of the large consumers as to the stabilizing effect of adequate storage upon prices; the coal industry has reached that period of its history in which permanence of purpose towards necessary changes is being crystallized, and these changes accomplished by the industry. It is to be hoped that during this era the phrase- " Our National Coal Problem "-will be relegated to the limbo of' antiquated expressions. That this epoch is upon us is evinced by the fact that operators are turning to consolidations, whereby financially sound companies will acquire smaller production units and place themselves in position to maintain constant supervision and control of their development and output; and, as further proof of the arrival of these changes, may be cited the entrance of additional members of the engineering profession into the many phases of management and operation, where- by the cost per ton of output will be, constantly reduced through the increasing use of modern methods and equipment. As an instance, attention is specifically called to the developments in mechanical loading, proposed and actual continuous underground transportation systems and betterment in methods of preparation.

Jan 1, 1924

By W. B. Clark

IN OPERATING the Alpha mine of the Consolidated Coppermines Corp., Kimberly, Nev., it was necessary to pump out approximately 1200 gallons of waiter per minute to prevent the mine being flooded. There were three levels in the mine at which water accumulated and from which it was pumped, the 1200, 1400 and the 1800- ft. levels. At each, the pumping equipment was installed in duplicate so that if for any reason one unit was out of commission the other would be available to prevent flooding. The two centrifugal pumps at the 1200-ft. level were 600 hp. each; at the 1400-ft. level, 100 hp. each; and at the 1800-ft. level, 300 hp. each.

Jan 1, 1933

By M. Herman, G. J. London

A series of dilute Fe-Co alloy specimens were prepared from zone-melted iron. The iron used was given ten floating-zone passes in purified hydrogen. Alloying was accomplished by plating a gradient of metallic cobalt onto a 1/4-in.-diam bar of material from a pure plating bath. The deposit was radioac-tively tagged by a small addition of co80 to the plating bath. Alloy homogenization was accomplished by passing an additional floating-zone pass through the plated section of the bar. The final concentration gradient achieved was from residual to about 1000 ppm (0.1 pct) added Co. After homogenization, the bar was swaged to 0.057 in. wire and cut to tensile specimen blanks 1-1/16 in. long. Each specimen was counted in a well-type scintillation counter. The concentration of cobalt was computed by combining the normalized specimen counting rate with the known weight (measured to the nearest 0.01 mg) of cobalt added during plating. Fig. 1 shows the cobalt gradient obtained, exclusive of residual cobalt which was estimated by neutron-activation analysis to be approximately 50 ppm. Results of recrystallization for 1 hr at 750°, 700°, 650°, and 600°C with specimens containing 40, 170, 470, and 870 ppm added Co are shown in Figs. 2, 3, 4, and 5. Recrystallization was accomplished in a dynamic vacuum of less than 1 x 10 torr. The specimens were mounted and polished parallel to the swaging direction. The recrystallization re- sults show a radical coarsening of structure with increasing cobalt concentration. The coarsest structure obtained was at the 470-ppm level (at all recrystallization temperatures) with a slight grain refinement at the 870-ppm level shown. A more normal solid-solution effect is seen in Fig. 5 (60OoC, 1 hr) where the only specimen completely recrystallized is the one containing 47 ppm Co. Since the possibility existed that some atmosphere-contamination phenomenon might be responsible for the observed results the recrystallization series was repeated using sealed quartz capsules. These were filled with purified argon which was gettered during heat treatment on metallic titanium included in the capsules. The results obtained were essentially the same as shown. Another identical alloy was made using a 5-mm-diam bar of Westinghouse Puron. Specimen preparation and recrystallization treatment were also as described. The results obtained (see Table I) were somewhat erratic. Some coarsening in structure does appear at the highest cobalt concentrations. There is no apparent relationship between the coarse, columnar, directionally solidified structure of the as-melted bars and any of the recrystallized grain structures observed, all of which are much finer than the former structure. A recrystallization process can be most simply described as one of homogeneous nucleation of recrystallized grains in a cold-worked matrix followed by more or less uniform growth of the strain free grain into the cold-worked material.' An impurity element may influence one or both of these processes. Aust and utter' have shown that impurities strongly influence grain boundary mobility in lead. Moreover, definite recrystallization textures are produced by small concentrations of tin,3 while additions of silver or gold4 produce large boundary in-

Jan 1, 1964

By Archer E., Wheeler

COPPER operations in the Congo mean the operations of the Union Miniere du Haut Katanga, because there are no other copper industries there. There is a mine at Bwana M'Kubwa, a little way to the South, in Rhodesia, which has been operated on a small scale, and-another farther south, the Falcon mine, but in quite a different section of the country. This Bwana M'Kubwa mine has recently been reorganized financially and the Minerals Separation interests have taken an extensive share in it, so that it may come into operation. The Union Miniere's operations are in Katanga, the most southeastern province of the Belgian Congo, and the company's concession is in the southeastern part of that province. The usual route for going into the country is by way of Cape Town, thence over the South African Railways through Kimberly and Mafe- king to Bulawayo, then by the Beira, Mashonland and Rhodesia Railways to the Rhodesia-Congo border, passing Victoria Falls on the way, and finally by the Belgian road, the Chemin de Fer du Katanga, to Elisa- bethville, the African headquarters of the company. From Cape Town to the border it is about 2150 mi. and from the border to Elisabethville about 158 mi., making a little over 2300 mi. from Cape Town, by rail.

Jan 1, 1924

By Fred J. Miller

FRED J. MILLER was born in Ohio, in 1857. He had a common and high school education, supplemented by personal study and special instruction. After serving a 4-year apprenticeship and working in various capacities in machine shops, he became a contributor to mechanical journals and finally a member of the editorial staff of The American Machinist, where he remained for twenty years, the last ten years as editor-in-chief of the magazine, and vice-president of the publishing company. On retiring from journalism, he was for nine years general manager of a group of typewriter factories, and was then commissioned Major of Ordnance in the U. S. Army, being stationed during most of his service at Rock Island Arsenal, where he organized the Civilian Service Division of the Arsenal. He is now a member of the Technical Advisory Committee of the War Claims Board at Washington. Major Miller became a member of the American Society of Mechanical Engineers in 1890, and has always taken an active interest in its affairs, having served on a number of important committees, and as a member of Council from 1904 to 1907, inclusive. He was elected President in December, 1919.

Jan 1, 1920

By Nathaniel Arbiter

THE separation of minerals by flotation can be regarded as a rate process, with the extraction of any one mineral determined by its flotation rate, and the grade of concentrate by the relative rates for all the minerals. So regarded, the significant variables for the process are those that control the rates. These variables are of two types, the first describing the ore and its physical and chemical treatment prior to flotation and the second characterizing the separation process in the cells. This paper will examine the variation in rates for a group of separations, will show that a simple rate law appears to govern, and will consider the relation of the control variables to the rates. The use of rate constants for evaluation of performance and efficiency will be discussed. Flotation involves the selective levitation of mineral and its transfer from cell to launder. The flotation rate is the rate of this transfer. It may be defined by the slope of a recovery-time curve for any cell in a bank, or at any time in batch operation. The objective in flotation rate study is an equation expressing the rate in terms of some measurable property of the pulp. This can be either the concentration of floatable mineral in weight per unit volume1,2 or a relative concentration, which will be a function of the recovery." A rate equation for an actual flotation pulp will contain at least two constants, both to be determined from the data. One of these, the initial concentration or proportion of floatable mineral, is not necessarily equal to the feed assay because of nonfloatable oversize or locked particles." The other, a rate constant, is a measure of proportionality between the rate and the pulp property on which the rate depends. The value of the rate constant will be determined by the values of all variables which control the process and will be changed by significant changes in any of them. It is, therefore, a direct measure of performance. Where recovery or grade change continuously with flotation time, the rate constant will be independent of time and will characterize the entire course of the separation. Development of Rate Equations Rate equations can be developed either by analysis of the mechanism of the process or by direct fitting of equations to recovery-time data. Sutherland's attempt by the first method' suggests that the effect of particle size variation on the rate complicates the derivation of a simple equation applicable to an ore pulp. A further problem with an ore is the concentrate grade requirement, which usually involves a variable rate of froth removal. Thus the final rate for any cell may depend on the froth character and froth height, as well as on the pulp composition. This does not imply that each cell cannot reach a steady state2 in which the rate will depend ultimately on pulp composition. The second method is the fitting of rate equations consistent with the necessary boundary conditions* to experimental recovery-time curves. On the assumption that under constant operating conditions the flotation rate is proportional to the actual or relative concentration of floatable mineral in the pulp, a generalized rate equation may be expressed as follows: Rate = Kcn [I] where K is the rate constant, c is some measure of the quantity of floatable mineral in the pulp at time t, and n is a positive number. In previous rate studies, the value of n has been taken as 1, either by direct assumption," or as a result of the hypothesis that bubble-particle collision is rate determining.' A first order equation results, which after integration in terms of cumulative recovery R, leads to Loge A/A-R = Kt [2] The quantity A is the maximum possible recovery with prolonged time under the conditions used. No conclusive proof for the validity of this equation in flotation has been advanced. The evidence cited in its support consists entirely in the demonstration that it appears to apply to a limited number of recovery-time curves."' It will be shown subsequently that this procedure is not sufficient to establish the order of a flotation rate equation. The possibility that the equation may be of higher order therefore requires examination. If, in particular, the exponent in eq 1 is assumed to be 2, then after integration there results R = A2Kt/1 + AKt [3] with K again a rate constant and A the maximum proportion of recoverable mineral. Eq 3 may be

Jan 1, 1952

By Anson Hayes

FOR the purpose of the following discussion the word "research" is interpreted as including all phases of development work on methods of manufacture, metallurgical characteristics, and uses of iron and steel. Research in the iron and steel industry then includes both plant re- search and laboratory research. Since iron and steel came into being, the steel consumer's plant and the steel producer's plant have been important factors in the development of the steel industry. Good minds have always been associated with both consumer and producer plants, so marked progress was made in the industry even when these were the only types of research and development groups in action.

Jan 1, 1937

By Josiah Royce

To evaluate chemically the sample of rock obtained by diamond drilling, it has long been recognized that the analyses of the two components of the sample, core and sludge, must be given appropriate influence in computing the average analysis of any unit of depth. The purpose of this investigation is to set forth what means are available for apportioning the effect of core and sludge on the final analysis, what variables affect the problem, and what combination of applied mathematics will closest approximate the truth under each condition as these variables proceed within their limitations. A drill hole is bored in iron ore exploration principally to test variations in rock composition with depth and is usually directed as nearly normal to the bedding of a horizon to be tested as possible. This practice has a tendency to minimize variation in composition laterally which in any event is not likely to be great. It is obvious that the opportunity for change in analysis of a particular rock is not statistically as great radially in a diamond drill hole where the distance in which such a change may occur is from 0.719 in. (EX bit) to 1.469 in. (NX bit) as there would be longitudinally even in a' run as short as 5 ft. Variations in composition of bedded or layered rocks are usually greater normal to the bedding than parallel thereto. Even in massive rocks, like porphyries, variations are functions of distance. Hence. in either case, variations along the hole are of greater effect than across it. Let us examine Fig 1 briefly to observe a cross section of a unit of depth of a typical diamond drill hole. If we neglect radial change in chemical composition, which we have seen is small compared to lengthwise variation, we can see that if core recovery was 100 pct, the core and its surrounding area, which would be recovered as cuttings (assuming 100 pct sludge recovery), must analyze the same if the sampling is perfect. This is the foundation of this paper, namely, that if core recovery is complete we may assume that the core constitutes as nearly as possible a perfect sample of the ground drilled. Now let us pass to the methods of weighting core and sludge in the final analysis and then develop each in turn. One might employ core analyses only, sludge analyses only, or apportion the influence of each by one of several methods. The most common apportionment is by direct proportion to relative theoretical vol- ' ume occupied by each component in the cylinder hollowed out by the drill, known as the Longyear formula. Another logical treatment would be to consider core and sludge in the final analysis according to the weight of each recovered. This procedure was elaborately set forth and refined by R. S. Moeh1man.l Then to be sure that we have embraced all the possibilities, we must admit that some other method or methods may be devised empirically or by mathematical maneuvers. Should a drill machine be capable of recovering 100 pct of the core in all types of rock, certainly core alone need be analyzed and no complicated mathematics are required; but although some companies have had fair success in obtaining high percentages of core in certain homogeneous ores on the Mar-quette Range, their same methods have proved disappointing on the Menominee, Cuyuna, and Gogebic Ranges where the iron formation often varies widely from flinty chert beds interstratified with soft hematite to wholly leached ore material composed of an unpredictable mixture of hematite and limonite with occasional zones of sugary, recrystallized chert. In spite of numerous mechanical improvements in core barrels, few drilling programs can count on complete core recovery. The sludge alone might be analyzed but for practical reasons this is inadvisable when core is obtained due to the numerous opportunities for contaminating or losing portions of the cuttings. The Longyear formula involves a weighting of the core and sludge in proportion to the theoretical volume of each, that is, where the volume of the core recovered is one-third of the total cubic volume of the cylindrical hole made by the drill, the analysis of the core is given one-third of the weight in the final analysis. This approach to

Jan 1, 1950

By L. F. Reinartz

FROM the earliest times when our prehistoric ancestors laboriously fashioned crude tools and weapons from meteoric iron until our day when we manufacture steel in 150-ton open-hearth furnaces, the production of iron and steel has played a dramatic and important role in the development of civilization. Progress in the science of refining iron ore into iron and steel was painfully slow for many centuries. The keen scimitars of Damascus, the broadswords of the English knights, the coats of mail of French knights, and the Iron Pillar of Delhi are well¬known examples of medieval metallurgical technique. Expense and the scarcity of raw materials originally limited the distribution of iron and steel products. It was not until the nineteenth century that a determined effort was made to adapt the use of steel to peaceful pursuits. The spectacular and rapid strides made in the manufacture of steel during the last hundred years were hastened by the invention during the decade 1860 to 1870 of two great steelmaking processes-the Bessemer and the open-hearth process.

Jan 1, 1936

By COURTNEY DE KALB

IRON ore is the cause of the present trouble in Morocco. At least three nations are interested in the outcome and private syndicates have been active. The iron deposits are found in that mountainous northern coast line known as the Rif. This is an uplift that has been cut through, by the northward drainage, representing an ancient land surface. Erosion has produced .a fiordlike coast, which circum- stance has aided contraband' traffic to the tribes dominated by Abd-el-Krim, the chief of the clan of the Beni Urriaguel, near the center of 'the north coast, opposite Alhucemas. The iron deposits are extensive in the territory of the Beni Urriaguel. They were "located," if such a term is permissible, many years ago. The first arrangements, through direct contracts with the tribal chieftains, have been reinforced by compliance with the subsequent code under the Spanish protectorate in 1914. Under those terms, the location had to be made through the Arbitral Commission sitting in Paris. These locations, or "denouncements," were made by the I-louse of Mannesmann, of Hamburg.

Jan 1, 1925

"The pumping of the underground water of the Butte mines is largely done from two central plants of the Anaconda Copper Mining Co. The mines of one part of the mining district are served by a modern and mechanically efficient underground plant at the High Ore mine, and the remaining part by a similar one at the Leonard mine. Properties not affiliated with the A. C. M. Co. have separate pumping plants, although in several instances that company handles the water of outside companies, under which arrangement costly single plants are dispensed with. An extensive system of underground crosscuts and drifts connects these mines to both the main pumping plants, so that either may receive the water from all the mines in case there should be a failure in the other to perform its designed service.Quintuple) vertical electric pumps, 7 inches by 12 inches each, of a capacity of 600 gals. per minute under a head of 1,203 feet, are installed at both the plants. Each pump is direct connected to two 150 h-p. motors using 2,300 volts, the motors being on top of the pumps.At the High Ore plant the power cable of 400,000 c. m. is placed in a nearby shaft, the cable at present being hung from the surface to the 2,200 level. From this cable feeders of 300,000 c. m. are laid in connecting crosscuts to the pumping station at the High Ore shaft.The Leonard motors use 440 volts. The practice of building the pumps with the motors on top requires stations with high roofs, but permits the operation of the pumps if they should be submerged by an unusual flow of water."

Jan 1, 1913

By AIME AIME

ANNOUNCEMENT of the annual meeting to be held Feb. 18 to 22 inclusive will be mailed the latter part of the month to all members. Particular attention is called to the fact that application has been made for reduced rail- road fares on the Certificate Plan. When you purchase your railroad ticket be sure to ask for a CERTIFICATE for yourself and members of your family. Last year over 400 members and dependent members of their families attending the meeting secured return railroad tickets at half price by means of this certificate, thereby saving thou- sands of dollars. Those who fail to obtain this certificate when purchasing going tickets will lose money. Unless 250 certificates are validated at headquarters it will be impossible for anyone to secure the reduced rate.

Jan 1, 1929

By M. V. Nevitt

THE Cr,O-type, or P-tungsten, structure having the space group (Oh2— Pm,n) is one of the most widely occurring structures found among the intermediate phases involving transition metals. Including the phases reported here for the first time, the total number of these A,B phases now known is 39. Greenfield and Beck' have correlated the lattice parameters of these phases with the Goldschmidt radius of the close-packed chains of A atoms. Laves' discussed the apparent size of the A and B atoms in this structure. Gel1er" proposed a scheme for reproducing the lattice constants of the phases by the use of a list of effective C.N. 12 radii for the component elements. Reported here is a survey of the A,B combinations which appeared favorable for the stability of the Cr,O-type phase but which, at the time the investigation was begun, either had not been reported upon or had conflicting reports as to the existence of the structure. Seventy systems were investigated, and 8 Cr,,O-type structures were found. Six of these also were reported by other investigators in the interval between the start of this investigation and its completion. This survey yielded information as to the influence of the relative sizes of the A and B atoms on the stability of the phase and, for the various families of Cr,O-type phases, the effects of the sizes of the A and B atoms on the lattice constant. Likewise, a somewhat clearer picture of the connection between the position of the A and B elements in the Periodic Table and their Cr,O-type phase-forming tendencies has become apparent. Experimental Procedure Alloys were prepared in the form of arc-melted 3-gram buttons in all cases where the vapor pressure of neither component was high enough to cause

Jan 1, 1959

By W. A. Koehler, W. L. Eaton, Reynold Q. Shotts, M. E. Hinkle, M. R. Geer, Ralph M. Hunter, H. F. Yancey, Andrew B. Crichton, E. Zimmerman, S. H. Ash

R. Maize and H. P. Greenwald presiding) E. T. POWELL*-I would like to ask either Mr. Ash or Mr. Eaton if they know of any place where the Mine Inspectors' for¬mula has been used that water has flowed from one colliery to the other. W. L. EATON (authors' reply)-We have made considerable study but we have not gotten around to very many of the barrier pillars. I would not say that any or all of them have been designed to the strict figures of this formula. Most of those ex¬amined will not hold back the water that they are supposed to hold back. E. T. POWELL-If the pillar remains ac¬cording to the Mine Inspectors' formula? W. L. EATON-We have not found very many where the provisions were followed. E. T. POWELL-Where the Mine Inspec¬tors' formula has been fully complied with, have there been failures or not? W. L. EATON-I cannot say. Most of these barrier pillars probably were designed in accordance with this formula, but most of them, if they were so designed, are not in that shape now because a large number of them will not hold back the water; they have been reinforced, and they are punc¬tured in various places. Holes have been driven through them to relieve the hydro¬static pressure to avoid a failure. They do not dare to have a failure. In many instances, the barrier is punc¬tured to avoid a failure. In order to mine their coal safely, many companies must pump water from mines that were aban¬doned many years ago. R. MAIZE-That is true, Mr. Eaton, but do you know of any case where a barrier pillar actually failed and flooded an ad¬joining mine when the pillar had been left in accordance with the Mine Inspectors formula?

Jan 1, 1948

By Donald H. McLauqhlin

ITEM expressed in billions of dollars have become so commonplace these day- that a mere statement of the latest figures for the country s gold reserve scarcely conveys m adequate sense of the immensity of the commitment the nation has made in building up its huge stock, two-thirds of which is now stored at Fort Knox. Kentucky. Only by measuring it against quantities that mean something tangible to a particular group can an adequate comprehension of its magnitude he rained; consequently, to mining engineers, a comparison with the value of output from well-known mining districts might best serve to give some degree of reality to the astronomical figure at which the country gold is now valued.

Jan 1, 1941

By Thomas D. West

The fact that iron expands when heated, until fusion takes place, and that molten iron is consequently less dense than solid iron of the same grade, is now universally admitted. It was proved by the extensive experiments of Mr. Thomas Wrightson, reported in the Jownal of the Iron and Steel Institute (1890, No. 1, p. 72, and 1891, No. 1, pp. 75, log), and, in a manner, is illustrated in heavy founding by the shrinkage 'of the molten metal, which must be " fed " in order to obtain solid castings. This decrease in volume requiring " feeding" while the metal is still liquid I call " shrinkage," applying the term " contraction" to the decrease in volume which takes place after solidification, while the iron is cooling to atmospheric temperature. The light-work founder, not having the opportunity to make heavy castings, in which shrinkage can be observed, is apt to confound the two; but they are in fact distinct, and are separated by an act of expanion, which takes place at the moment of solidification. The fact of this expansion was first practically demonstrated by Mr. John R. Whitney, of Philadelphia, Pa., whose experiments are recorded in the National Car and Locomotive Builder of May, 1889. Experiments recently made by the writer indicate that there is a constant relation between this expansion and the preceding shrinkage and forcibly demonstrate the necessity of " feeding " a casting to make its interior solid. This is a matter with which all makers and users of castings have experienced difficulty. The founder being heretofore unable to define correctly the principles involving the urgent necessity of " feeding " has failed to impress the moulder with its importance in making sound castings.

Jan 1, 1897

THE 135th meeting of the Institute was the largest and most enthusiastic that has ever been held, sur-passing passing in numbers attending even the notable meeting of 1920. The total registration was 1493. The technical sessions and round tables, 38 in number, were spread through four instead of three days as heretofore in order to reduce the number of conflicts, and most of the A. S. T. M. Committee meetings were held over until Friday. Even so it was necessary to schedule as many as seven simultaneous technical sessions, and there were usually at least two going at once that each wished to attend. Three special luncheons and five group dinners were held, each of which strung out into an informal meeting, and yet approximately 500 came to-gether each day at the general luncheon and over 700 attended the banquet on Wednesday night. The smok-er attracted 402, and the various social affairs under the charge of the general or the women's committees were all crowded. From 10.00 a.m. Monday to 11.00 p.m. Thursday there was one long series of meetings after which the members went home to catch up on their sleep. The comment on the meeting of a member of one of the other societies, who had occasion to be much in the building, was the markedly friendly spirit of the gathering, the large numbers who were evidently old friends and acquaintances. This does seem to set the miners off somewhat from other engineering groups. So many have shared the same blankets and beans at one time or another that the annual meeting has truly come to be a family reunion.

Jan 3, 1927

The Black hills rise like a dark island above the far-flung prairie lands of the Dakotas; to their sombre pine-clad slopes they owe the name, Black mountains, by which they were known to the early explorers. Pahasapa, a Sioux word with the same meaning, was the name given to these hills by the Indians, who avoided them, believing them to be mysterious and dangerous. The aborigines entered the hills rarely, to pick berries, hunt the deer, or to cut lodge-poles, the central supports of their huts. The French explorer Pierre de la Veréndrye reached Dakotan soil in October 1738, coming thither from Montreal by way of Lake Superior and the Lake of the Woods.* Five years later his sons, François and Louis Joseph, reached the Black hills, as is recorded on a plate unearthed at Fort Pierre in 1913. The French-Canadian explorers and trappers of that time, however, appear to have been diverted southeastward to the more promising lands of the Mississippi valley, so that we find no mention of the Black hills in the chronicles of the period until Lewis and Clark, on their way to the Pacific coast, in 1805, met a French trader, named Jean Vallé, on the lower Cheyenne river, and from him they heard of the Black mountains in a casual manner. Next, Wilson P. Hunt, who, at the head of an expedition crossed the Rocky Mountains on his way to the Astor trading-post on the Columbia river, in 1811, had a glimpse of the dark hills to the north, but that was all. Then in 1823 Jedediah S. Smith, one of the earliest discoverers of gold in California, crossed the southern part of the Black hills on his way westward. Two trading-posts were established in

Jan 1, 1932

By Dr. Hans Von Höfer

APART from the hypothesis of a .cosmic origin (which failed of acceptance because it was not adequately supported by facts), the only important controversy concerning the origin of petroleum has been, for a long time, between the advocates of inorganic and of organic origin respectively. Each of these theories has had a long history of development, and is still being perfected, under the influence of two causes: (1) the increasingly extensive and thorough study of the oil-fields (of which new examples are periodically discovered and opened); and (2) the progress of synthetic experiments devoted to this question. Moreover, the advance in our physical and chemical knowledge of the properties of this peculiar natural product has necessarily modified all criticism of conflicting views. I. THE HYPOTHESIS OF INORGANIC ORIGIN That the notion of an inorganic origin of petroleum, first set forth by Berthelot in 1866, and afterward ingeniously developed and formulated by Mendelejeff, should thus have proceeded chiefly from chemists, is quite natural; for the question was one of possible chemical processes in the earth's interior, and of imagined chemical reactions to be, verified by experiment. Hypotheses of this kind were suggested by many chemists, of whom two, P. Sabatier and J. H. Senderens, may be specially named by reason of their highly interesting chemical experiments. Among geologists, Mendelejeff's hypothesis was received at first with much interest and favor; for it rested on the assumption of a central terrestrial mass of iron carbide, and the geologists had good reasons for adopting that assumption. Yet comparatively few of them attempted to furnish geological proofs of the hypothesis: the majority either silently believed in it, or for one or another reason rejected it altogether.

Jan 5, 1914

THE COMMITTEE, appointed early in May, met and organized in Washington, May 9, 1923, and were then advised that such data as they required would as far as obtainable be submitted to them in tabulations, and that they could not be allowed to see the individual reports nor know the identity of the operators on whose reports the figures submitted were based, therefore the Committee's valuation is based on data received from your statisticians, and on tonnages estimated by your staff and by the United States Geological Survey. Various methods of valuation for mining properties have been suggested, but all authorities seem to agree in accepting, as the fairest and most practicable and logical, a capitalization of the estimated future earnings, when such estimate can reasonably be made. Hoover and Finlay both emphasize this. The United States Supreme Court says in Cleveland, Cincinnati, Chicago & St. Louis Railway Co., v. Backus, 154 U. S. 439: But the value of the property results from the use to which it is put and varies with the profitableness of that use, present and prospective, actual and anticipated. There is no pecuniary value outside of that which results from such use. The amount and profitable character of such use determines the value. The Committee on Federal Taxation of the American Institute of Mining and Metallurgical Engineers, appointed in 1919, in its report states: A proper value of a mining property is the present value of the prospective net earnings, taking into account probable variations in output and value. Ingalls (" Wealth and Income of the American People," p. 97) says: The fundamental principle of mine valuation is the present worth of an annual dividend accruing during the period of years corresponding with the life of the mine. It is a convention that the estimated period shall not be more than 30 years.

Jan 1, 1924