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By R. Philip Hammond

Monazite has had a Cinderella-like history. Although nearly go per cent pure rare-earth compound (rare-earth phosphate) it was sought at first not for the rare earths but for the sake of a minor constituent—thorium. The thorium, essential for the Welsbach gaslight mantle, was present in only small quantities and the principal constituents, the rare earths, were largely discarded. Gradually, however, the rare earths have developed uses of their own and today have left the thorium far behind in value. Occurrence Monazite was first produced commercially about 1886, in North Carolina, where it was collected in small sluices by farmers who found it in stream beds on their land. The deposits were later exploited on a larger scale, but were mostly abandoned in a few years, when monazite from Brazil came upon the market in far larger quantities. Domestic production ceased entirely in 1906. The Brazilian source is still active, together with Indian, Dutch East Indies, and Australian deposits. Several other localities in the United States have yielded monazite, but none of these has produced commercially as yet. Monazite occurs originally in pegmatite~ and gneisses, through which, unfortunately, it is scattered in highly dispersed form. All commercially useful deposits consist of transported monazite sands liberated by erosion and concentrated by the action of water, which has sluiced away lighter materials and concentrated the heavy (D = 5.0 to 5.2) grains of monazite, together with ilmenite, zircon, garnet, and other dense minerals. The Carolina deposits were in stream beds; most of the other deposits mentioned are on or near the seashore, where the action of the waves has served to concentrate the monazite. In most cases today, the sands are worked to obtain the ilmenite and zircon, as well as monazite. The minerals are separated by means of sluices, dry tables, and magnetic separators, and each is finally obtained nearly pure. No crushing or grinding is necessary. The concentrates are shipped in fiber bags. Composition of Monazite As Table I illustrates, monazite is the anhydrous orthophosphate of the cerium Table i.—Typical Analysis of a Monazite Sand (India). Per Cent Thorium oxide............................. 8.1 Cerium oxide.............................. 30.6 Lanthanum oxide........................... 15. 7 Neodymium oxide.......................... 10.5 Praseodymium oxide........................ 2. 9 Samarium oxide............................ 1.0 Europium. gadolinium, and terbium oxides.... 0.7 Yttrium oxide.............................. 0.4 Dysprosium, holmium, erbium. thulium, ytterbium. and lutecium oxides................. 0. 1 Silicon oxide............t................... 2.4 Calcium, aluminum, and iron oxides.......... 1.0 Uranium oxide............................. 0.3 Phosphorus pentoxide....................... 26. 2 a The values given for the rare earths following samarium are approximate. being based upon analyses of concentrated fractions derived from monazite. The composition given represents Travancore monazite carefully freed from other minerals. goup of rare-earth elements. A small amount of yttrium and terbium group phosphate is also present.* All the rare-

Jan 1, 1948

By Harry E. Krumlauf

The year 1957 was one of declining metal price and production. Many lead-zinc-copper mines were forced to close, and the remaining mines limited production to stay more in line with demand. High cost of labor, supplies, and equipment and high taxes aggravated the situation. Some operators postponed or abandoned expansion programs because of uncertain economic conditions. Output was curtailed by elimination of over- time employment and reduction of the working force. The number of employes laid off was small- reduction in the labor force was accomplished by not replacing those who left a company's employ.

Jan 2, 1958

By J. J. Bowman, E. H. Dix

A LACK of experimental data illustrating the effect of composition, particularly in respect to impurities, on the mechanical properties and corrosion resistance of aluminum-alloy die castings induced the authors and their associates to undertake a limited study of these relations. A number of commercial alloys and several experimental variations of a commercial alloy were used for the investigation. Mechanical property, growth, steam, paraffin, salt spray and atmospheric exposure tests were employed. This paper deals with the more accelerated tests and the results they have produced. It is concluded that a high-silicon alloy with all impurities except iron strictly limited to small amounts will develop an excellent resistance to corrosion and retain satisfactory mechanical properties and casting characteristics. As a direct result of this investigation an alloy of this character with superior corrosion resistance is now available commercially. In general, copper increases the strength and decreases the elongation and corrosion resistance. Tin reduces the mechanical properties and the resistance to corrosion. Iron reduces the elongation and, if excessively high, may adversely affect the tensile strength. Even excessively high iron contents do not affect the corrosion resistance, which is fortunate for the die caster as it is this element that is the most difficult to control. Nickel and zinc in limited amounts do not seem to affect the properties or corrosion resistance of at least the high-silicon alloy. Growth tests have confirmed the previous common belief that dimensional changes under either dry or wet conditions at 100° C. are too small to be of practical importance.

Jan 1, 1935

By Charles M. Rolker

(Read at the Philadelphia Meeting, February, 1878.) THE Mariposa estate, a grant made by the Mexican Government to Juan B. Alvarado, during the time when California was still under the dominion of Mexico, was purchased in 1847 by J. C. Fremont, and the United States patent issued to him in 1856. By sale, or its equivalent, money advanced, the property came into the hands of the Mariposa Company, June 25th, 1863, and through a varied existence of work and temporary inactivity, has as yet been kept as an undivided property, and rests at present with the Mariposa Land and Mining Company of California. I pass over this period of 15 years without giving the history of the ups and downs of the estate, partly because it is familiar to many, and also because I think in such a case this paper would assume too much the character of a narrative. The estate is situated in Mariposa County, California, about 170 miles southeast of San Francisco. It begins in lat. 37° 26’ 38" - north, and long. 119° 55' west, and runs 6 miles north; thence 6 1/2 miles west; thence 5 miles northwesterly towards the Merced River; thence 8 1/2 miles southerly; thence 3 miles easterly; thence 1 mile southerly; thence 2 miles easterly; thence 2 miles southerly; thence 2 miles easterly; thence I mile southerly; thence 2 miles easterly; thence 1 mile northerly, and thence 2 miles easterly to the place of the beginning; embracing 44,387 acres (70 sq. miles) more or less. To describe this vast estate in detail as to its full geology, its numerous quartz veins, its many facilities to exploit them and work them by cheap methods, would lead me further than I intend to go at present, and I will content myself to describe the latest workings of the company and its immediate field of operations. As long ago as 1860 the late Dr. Adelberg advised the running of an adit from the northwestern edge of the estate at Benton Mills on the Merced River. His object was to undercut the deepest workings of the then paying mines on the estate-the Pine Tree and Josephine. Following this advice, the tunnel known as "River Tunnel" was commenced. Its entrance is in S. 5, T. 4, S. R. 17 E. It is run in

Jan 1, 1878

By Herbert Hoover

DURING the year, the' Institute has made the most remarkable growth in its history. Our actual increase in membership was 1816 and therefore was 80 per cent. larger than any previous year. Even without expectation of any abnormal growth, we should pass in the year 1921 the 10;000 mark. The causes of this increased growth are not far to seek.. They lie in the widening vision of the Institute's work, not only in its relation to' the profession but as an avenue of service to the nation as a whole. The Institute is today in the first rank of influence among public institutions in the country. During this year we have, for the first time in many years, had a ?deficit of some $3000 in our finances. The sum is not important, but it- does indicate the tendency of the times, and that is the high cost of living:' The increase in our expenses lay, to the largest degree, on the publishing side of the Institute's work. If we compare the year 1918, as a fairly repre¬sentative year, with that of 1920, we find that the costs of issuing the' Institute's publications, after deducting the income received from these publications, shows a .net increase of about $33,000. for the year. This has been to some degree due to the enlarged membership but to a large degree due to the cost of the paper and printing.

Jan 1, 1921

By John A. Mathews

RESEARCH in the steel industry, as in other lines of manufacturing, has for its principal purpose the increasing of profits. That is what manufacturing companies are for, and all departments of the organization must be so coordinated as to lead to profitable operation. To divide a payroll into productive and non-productive labor is misleading. Productive labor, in fact, is necessary labor, and non- productive labor is the labor we can get along without. One might as well say that the steering wheel is not a part of an automobile as to say that the directing minds of an industry are non-productive. Legitimate manufacturing profits in a steel company or any other company are the reward that the public pays for service rendered or risk taken. The desire for profits is the impelling motive that leads investors .to take risks and build up industries that give employment to others. Every department of a company, be it executive, manufacturing, financial, sales, or research, must contribute to the one end which brings success-profits.

Jan 1, 1921

By AIME AIME

T HE 133rd meeting of the A. I. M. E., opening in New York on Feb. 15, promises to be as successful technically and socially as any in the past. The papers submitted for the various technical sessions are unusually excellent and insure something of interest to every group. Tentative programs have already been issued, and a concise resume of the various sessions, arranged chronologically, appears on page 48. Among the many interesting technical sessions arranged, attention is directed to those of the Petroleum Division, embracing the Symposium on Production that has come to be an annual feature, and new ones on refining practice, transportation and economics. The Institute of Metals program is similarly comprehensive. It includes 15 papers, 8 on copper, 4 on aluminum and its alloys, and one each on magnesium, lead, and fatigue of metals. The Coal Committee offers as a leading contribution its report, prepared under the direction of H. N. Eavenson, giving a new analysis of the capacity of the mines and a comparison of coal with other industries. This will be supplemented by a number of other papers of especial interest to operating men, among which are "Data on Use of Loading Machines in Bituminous Mines," by Graham Bright; "Evaluation of Coal," by R. H. Sweetser; "Selection of Coals for the Manufacture of Coke," by H. J. Rose; and "Relation of Origin and State of Carbonization of Coal to Problems of Low Temperature Carbonization," by S. W. Parr. The Iron and Steel Committee has scheduled seven papers, and there will be a special session on open-hearth practice, in which will be presented the first results of the two conferences, held by the sub- committee at Pittsburgh and Cleveland. A symposium on molding sands will be a special feature of the session on non-metallics.

Jan 1, 1926

By D. J. Jr. McAdam

PART I.-OUTLINE OF INVESTIGATION, DESCRIPTION OF METHODS AND MATERIAL Previous Investigation of the Influence of Stress on Corrosion IN 1917 Haigh1 presented evidence that under simultaneous corrosion and cyclic stress metals may fail at lower stresses than if the corrosion is prior to the cyclic stress. In 1926 the author, while investigating the cooling effect of water on the fatigue resistance of metals, found that under these conditions steel specimens fail at stresses far below the endurance limit.2 (By "endurance limit" is here meant the fatigue limit obtained with specimens as free as possible from stress concentration and corrosive influences.) This led to an investigation (at the Naval Engineering Experiment Station, Annapolis, Md.) of the influence of cyclic stress on corrosion. This investigation maybe divided into three parts. The first part was a general survey of the conditions necessary to cause complete failure under corrosion and cyclic stress of relatively high frequency. The entire process by which metals fail under these conditions was-called "corrosion-fatigue." "Corrosion-fatigue limits" for a large number of metals were determined and the relationships of these limits to chemical composition, heat treatment and physical properties were established. The conclusion was reached that corrosion-fatigue is due to the accelerating influence of cyclic stress on corrosion. Results of this part of the investigation were presented in five papers.2-6 The second part of the investigation was a preliminary study of the influence of cyclic stress on corrosion. Each experiment was conducted in two stages. The first was a corrosion stage in which the specimen was corroded under cyclic stress; the second was a fatigue stage, in which the previously corroded specimen was tested (without further corrosion) to determine its fatigue limit. The difference between this fatigue limit and the endurance limit was used as a criterion of the "damage" due to

Jan 1, 1931

By AIME AIME

THE John Fritz Medal Board of Award, at its annual meeting on Jan. 21, 1921, awarded its gold medal and diploma to Sir Robert Hadfield for the invention of manganese steel. On June 1, announcement was made that the Board of Award had awarded its gold medal and diploma to Charles Prosper Eughe Schneider for "achievement in metallurgy of iron and steel; for development of ordnance, especially the 75-mm. gun, and for notable patriotic contribution ' to the winning of the war." The award to Sir Robert Hadfield is for the year 1921; the award to Mr. Schneider is for 1922. The latter was made at this time in order that the medal might be presented by the group of American engineers now visiting England and France.*

Jan 1, 1921

By Leon Orlowski

THE oil-bearing districts of Poland are found on the slopes of the Carpathian Mountains. The oil belt extends from Gorlice southeast to Stanislawow. It is approximately 250 miles long and 30 miles wide, and comprises four geological districts: the western, or Gorlice district; next, to the east, the Krosno district; the Boryslaw district; and, in the extreme southeast, the Stanislawow district. The amount of petroleum produced in Poland from the beginning of the oil industry scarcely totals 26,000,000 metric tons, or 15 per cent. of the estimated supply. Of this amount, 18,000,000 tons have been taken from the fields of Boryslaw within 25 years; and only about 8,000,000 tons from all other fields within a period twice as long, although some of these other fields represent just as good possibilities as did Boryslaw at the beginning of its development. The Polish oil industry was severely stricken by the war. The retreating Russian armies, in 1915, destroyed a large number, of the existing oil wells, nor was the post-war period favorable for the development of this industry;; the money and credit stringency interfered with the expansion of drilling. But since 1921 there has. been a slow steady increase in production and there is now every reason to believe that conditions in the industry will improve. In fact, an increase in new drillings has been reported for the current year. The production of crude oil in Poland, in 1913, amounted to 1,113,668 metric tons. In 1914, the production declined- to 655,600 metric tons. In 1921, the production was 705,596 tons; in 1922, 712,428 tons, and in 1923, 737,182 tons; or more than 5,000,000 bbl. But the fields have a much greater potential output, which could be realized were the capital available for prospecting and new drilling. The principal producing, and at present most exploited, fields are around Boryslaw and Schodnica. These fields were developed rapidly for in the first year of their modern exploitation the wells were gushers of moderate depth. However, as a result of heavy drilling, the shallow folds have been exhausted and oil can be reached now only by deep drilling. Wells of almost 5600 ft. have been drilled in Boryslaw. Because of these drilling conditions, a large number of engineers and workmen specially skilled in deep drilling are to be found in this field.

Jan 3, 1925

By Robert M. Grogan, James C. Bradbury

The Illinois-Kentucky mining district has, since 1880, accounted for 80 per cent of all U.S. production of fluorspar. The ore deposits are of two types: vein deposits formed by fissure fillings along faults and bedding-replacement deposits formed by the replacement of strata at certain favored stratigraphic positions along minor faults and fractures. Fluorite is the chief valuable mineral in the deposits. Sphalerite and galena commonly are present in small amounts but, in some ore bodies, may form a substantial part of the valuable constituents of the ore. Calcite is the chief gangue mineral; quartz and barite Exposed strata range from Devonian are present in various amounts. through Pennsylvanian in age. Igneous intrusive rocks occur as mafic dikes and sills and intrusive breccia dikes and plugs. Structurally, the district is situated on a generally northwest- trending arch that has been sliced into a series of long, narrow blocks by normal faults that trend northeastward. The structural The localization of the ore deposits by faults and fractures, the association of fluorite mineralization with intrusive breccias, and various lines of petrographic and geochemical evidence indicate that the fluorite-zinc-lead deposits were epigenetic and deposited by solutions emanating from a deep alkalic magma.

Jan 1, 1968

By T. A. Rickard

The key-note of good writing, as of good manners, is B natural. Sincerity is the first requisite for effective writing. When a man says what he knows or believes, he is likely to be interesting, because each human being possesses an individuality, a point of view, or a range of sympathy that makes him different from his fellows. To say or to write what you do no6 think, for the mere sake of talking or writing, is a verbal exercise that must be performed with extraordinary skill if it is to be attractive. Affectations are rarely attractive, rarely effective. To be natural is to be yourself, not a poseur; to give the reader the best of yourself, instead of re-warming the baked meats of yesterday. Quotations-which are second-hand thoughts-will serve occasionally when the thing you want to say has been said so well by another that it would be waste of energy to try to say it better; but, as a rule, the utterance of the writer himself is more interesting than the quotation, because the writer brings something of himself to bear on the subject, and for the moment is more in touch with the reader than any dear departed author. Therefore, say things as best you can in your own way, neither in borrowed words nor in the phraseology that mimics another. Write as if you were speaking to a person whom you desire to persuade or convince. You will then write better than you speak, because, in the first place, you can be more deliberate, and, secondly, you can revise what you have written. Speaking and writing are similar mental acts, with a difference: the difference between eating food raw and eating it cooked. Some kinds of food gain nothing by being cooked; likewise some kinds of utterance are not bettered by being written down first; but most expressions of thought, especially

Jan 1, 1931

By Elmer W. Pehrson

Minerals have played a prominent role in the affairs of man and nations since time immemorial but with the advent of the industrial revolution, expanding use of the products of the mineral kingdom became synonymous with the material progress of mankind. Individuals and business groups have recognized this fact so have been aggressive in searching for and utilizing mineral resources, with notable success. Indeed, their achievements are primarily responsible for the present Machine Age. On the other hand, until recently the body politic has failed to grasp fully the essentiality of minerals although, at times, access to mineral supplies has been an important factor in the political maneuvers of nations. This chapter is concerned primarily with the broader political and economic relationships of mineral resources to the world economy, and with the internal and external actions of nations in the field of minerals. Many factors that condition the mineral economy of regions and the world as a whole, influence the internal and external affairs of individual nations. The more important of these are: 1. The nature of man's dependence on minerals. 2. The problems resulting from the unique characteristics of mineral occurrence. 3. Geopolitical concepts. 4. Minerals and world power. Actions of individual nations affecting their mineral economy seek two basic objectives : 1. Attainment and maintenance of prosperity. 2. Military security. Other objectives may be cited but on careful analysis they become integral parts or extreme phases of the two points noted above. For example, the twentieth century aggressions of the USSR, Germany, Italy, and Japan might be considered as direct bids for world power but they also can be interpreted as exaggerated or mistaken efforts toward military security and peacetime prosperity. Similarly, trade barriers, nationalization of industries, foreign exchange manipulations, taxation, monopolistic prac-

Jan 1, 1959

By C. E. Shoenfelt

There was a notable decrease in drilling operations in 1940 in all of the Rocky Mountain states except Montana, where the two large fields on the Canadian border, Cut Bank and Kevin-Sunburst, were espe-cially active. The expanding markets for Montana natural gas made necessary the more intensive development of such fields as Rowdoin, Cedar Creek and Devon. While there were no important oil and gas discoveries in 1940 in any of the Rocky Mountain states, a few small pools were opened, which may constitute separate areas but may prove with later development to be extensions of old fields. Some of the old fields were extended and deeper pay zones were discovered in others. These have given the areas greatly increased oil reserves and therefore are just as important as the discovery of new fields. The more important of the developments in 1940 are given, by states, in the following paragraphs. Colorado Hiawatha Field, Moffat County.—The Mountain Fuel Supply Co. began the development at Hiawatha of its oil reserves, which were discovered in about 1929, and late in the summer oil began moving from the field by truck to the shipping point at Rock Springs, Wyoming. The Hiawatha field of northwestern Moffat County was discovered in 1927 by the Sormir Petroleum Co., with the completion of No. r Florence Wilson for 4,5,000,000 cu. ft. of gas a day from a Wasatch sand lens at 2200 it. In later development of the field, oil showings were reported in several wells but no development of this resource was undertaken until 1940, when a test of the oil possibilities was started with the release in April of a location for No. 5-A Wilson on the S\W. SW. NW. of sec. 23-1zN-1ooW., on the east side of the field. The Well had an initial production of 327 bbl. of oil a day pumping from three Wasatch (Tertiary) sands between 2005 and 2540 ft. It was drilled to 2562 ft., where the 65/8-in. casing was cemented and gun-perforated at 2005 to 2125 ft., 2260 to 2335 ft. and 2513 to 2540 ft. At the end of the year, this well was averaging zoo bbl. of oil per day, pumping. Two other wells were drilled for oil on Hiawatha during the summer—one a small well of 60 bbl. per day and the other a small gas well. Powder Wash Field, Moffat County.—The development of the Powder Wash field in northwestern Colorado was resumed in 1940 by the Mountain Fuel Supply Co., with the release of a location for No. 2-A Musser in the CWL.NW.SE. of sec. 4-1rN-97W. The Powder Wash field was discovered in 1931 by the Mountain Fuel Supply Co. and the discovery well, No. I Musser, on C.NW. of sec. 5-IIN-97W., was completed at 2152 ft. in the Hiawatha member of the nonmarine Wasatch for-mation for an open flow of 34,000,000 cu. ft. of gas per day under a natural pressure of 685 lb. per sq. inch. Oil was discovered in the Powder Wash field on Nov. 26, 1936, in the company's No. I Carl Allen on the NE.SW.SE. of sec. 32-12N-97W. The oil production was

Jan 1, 1941

By C. E. Shoenfelt

There was a notable decrease in drilling operations in 1940 in all of the Rocky Mountain states except Montana, where the two large fields on the Canadian border, Cut Bank and Kevin-Sunburst, were espe-cially active. The expanding markets for Montana natural gas made necessary the more intensive development of such fields as Rowdoin, Cedar Creek and Devon. While there were no important oil and gas discoveries in 1940 in any of the Rocky Mountain states, a few small pools were opened, which may constitute separate areas but may prove with later development to be extensions of old fields. Some of the old fields were extended and deeper pay zones were discovered in others. These have given the areas greatly increased oil reserves and therefore are just as important as the discovery of new fields. The more important of the developments in 1940 are given, by states, in the following paragraphs. Colorado Hiawatha Field, Moffat County.—The Mountain Fuel Supply Co. began the development at Hiawatha of its oil reserves, which were discovered in about 1929, and late in the summer oil began moving from the field by truck to the shipping point at Rock Springs, Wyoming. The Hiawatha field of northwestern Moffat County was discovered in 1927 by the Sormir Petroleum Co., with the completion of No. r Florence Wilson for 4,5,000,000 cu. ft. of gas a day from a Wasatch sand lens at 2200 it. In later development of the field, oil showings were reported in several wells but no development of this resource was undertaken until 1940, when a test of the oil possibilities was started with the release in April of a location for No. 5-A Wilson on the S\W. SW. NW. of sec. 23-1zN-1ooW., on the east side of the field. The Well had an initial production of 327 bbl. of oil a day pumping from three Wasatch (Tertiary) sands between 2005 and 2540 ft. It was drilled to 2562 ft., where the 65/8-in. casing was cemented and gun-perforated at 2005 to 2125 ft., 2260 to 2335 ft. and 2513 to 2540 ft. At the end of the year, this well was averaging zoo bbl. of oil per day, pumping. Two other wells were drilled for oil on Hiawatha during the summer—one a small well of 60 bbl. per day and the other a small gas well. Powder Wash Field, Moffat County.—The development of the Powder Wash field in northwestern Colorado was resumed in 1940 by the Mountain Fuel Supply Co., with the release of a location for No. 2-A Musser in the CWL.NW.SE. of sec. 4-1rN-97W. The Powder Wash field was discovered in 1931 by the Mountain Fuel Supply Co. and the discovery well, No. I Musser, on C.NW. of sec. 5-IIN-97W., was completed at 2152 ft. in the Hiawatha member of the nonmarine Wasatch for-mation for an open flow of 34,000,000 cu. ft. of gas per day under a natural pressure of 685 lb. per sq. inch. Oil was discovered in the Powder Wash field on Nov. 26, 1936, in the company's No. I Carl Allen on the NE.SW.SE. of sec. 32-12N-97W. The oil production was

Jan 1, 1941

By Paul R. Dingess, Edward H. Hare, Douglas C. Brockie

Mining in the Tri-State district of Missouri, Kansas, and Oklahoma has been nearly continuous from about 1848 until the present day, although the major activity was from about 1880 to 1955. The district, which has produced over $2 billion in zinc and lead concentrates, ranks as one of the greatest mining districts in the world. Unlike other Mississippi Valleytype deposits in the United States, which occur in Cambrian and Ordovician limestones and dolomites, the Tri-State district ores occur in Mississippian limestones containing abundant chert. Zinc is 5 to 6 times more abundant than lead. In the Picher Field, the principal sub-district which has accounted for 61 percent of the total district production, most of the ore has been mined from the single horizon, M bed. Most ore bodies, other than those of the "Sheet Ground" or blanket-type, are in large, essentially flat-lying breccia zones and have a definite mineral zonal pattern. An irregular, generally elongated central dolomitic core is surrounded progressively outward by the main ore run, the jasperoid zone, the muddy or shaly and bouldery zone, the sparry calcite limestone zone, and the fossiliferous, dominantly crinoidal, limestone zone. Some of the zones may be absent or nearly so and may overlap to some extent with an adjacent zone. Although the district has been studied by many authors, much controversy still exists about such items as genesis, paragenesis, and time of emplacement. These subjects are discussed in the paper.

Jan 1, 1968

By Paul F. Kerr, Donald M. Hausen

Fine colloidal gold near Carlin, Nevada is disseminated in leached carbonate strata of the Roberts Mountains Formation in the Lynn "window" of the Roberts Mountains thrust fault. The ore body is generally stratiform and is more or less conformable to altered beds near the top of the formation, underlying Devonian limestones. Two sequences of mineralization are recognized: ( 1) an earlier base metal-barite assemblage related to early Cretaceous intrusives (121 ± 5 m.y.), and (2) a later low temperature Au-As-Hg-Sb assemblage of near surface emplacement. The earlier sequence consisting of sparse galena and sphalerite in barite with anomalous amounts of zinc, lead, nickel and copper, associated with dikes of dacitic composition, is of little economic importance. The later sequence of gold, realgar, cinnabar, and stibnite associated with extensive silicification and argillic alteration of limestone beds, has resulted in important deposits of gold. Argillic alteration of hydrothermally leached carbonate strata has provided the environment in which the most prominent gold deposition took place. Carbonate minerals in the limestone host rock have been replaced by microcrystalline quartz and chalcedony to form stratiform silica masses and recrystallized lenses of euhedral quartz. Zones of porous silicification are light gray to white, elliptical in shape, and more or less follow bedding. Silicification is bordered by argillic alteration and pyritization. Deposition of gold usually lies in a zonal pattern that encircles chimney areas of silicification.

Jan 1, 1968

By Walter J. Mead

By American tradition, if not by rational decision, publicly owned natural resources have been transferred to private industry for processing. The process of transfer requires specific determination of the price which the patentee, buyer, or lessee must pay to the government in exchange for the right to develop a resource, and selection of the patentee, buyer, or lessee from among several possible contestants. Pricing of natural resources owned by the government presents a set of problems quite different from ordinary commodity pricing. Natural resources in situ are not homogeneous commodities. Within any class of natural resources, specific leasable parcels will differ in value by reason of location and accessibility, as well as quality and quantity. Thus, there is no "going price;" every lease within a specific resource class will have a different value. To complicate further the pricing and buyer selection problems, competition may not be reliable. Natural-resource markets are characterized by oligopsony conditions. In a significant number of cases, as will be shown later, there has been only one bidder for a given lease, and in most lease sales the number of bidders is equal to or less than three. As a further complication, there is great uncertainty regarding the value of specific resources, even among the best-informed buyers, as well as within the leasing agency. In some instances, particularly with regard to oil and gas resources, there may be uncertainty about the presence of resources, as well as the quantity and quality of any resources contained in the tract offered for lease. In other cases, such as oil shale and some deep ocean minerals where new technologies are involved, the presence of the resource is clearly established. There may be a relatively high degree of knowledge about the quantity and quality of the resource, but there is great uncertainty concerning the cost of production. These problems in total make it difficult for the leasing agency to appraise accurately the resource to be leased, as well as for the potential bidder to calculate a bid price that will yield him a normal profit. The pricing goal of the federal government as the seller or lessee may be to capture the economic rent; that is, the price of a resource might equal its discounted present value. A required price substantially above this amount would either generate no bids, or, in the long run, would bankrupt the buyer. A price below this amount is a disguised subsidy to the lessee. A subsidy to mineral lessees, as to any other economic interest group, as a minimum should be justified by a clear showing of net external benefits from the economic activity. In the case of timber sales by the U.S. Forest Service, the Forest Service Handbook asserts that "the aim in national forest stumpage appraisal is to determine market value,"8 and "market value" is equated to "fair market value." Regarding minerals, there is no reference in legislation or regula-

Jan 1, 1976

(Under this heading will be published notes sent to the Secretary of, the Institute by members or other persons introduced by members.) Development and production. Member open for engagement. Past year in war mineral field work, operation and production. Ten years' thorough experience in both subordinate and executive positions, gold, silver and copper in the United States, Mexico, and South America. Age 37, married. Minimum salary $3600. Interview. South or East. A-577. Engineer and executive. Captain U. S. Army, age 36, expects discharge before July 1. Seven years' mining and metallurgical experience. Six years with large technical college as assistant professor of mining and directing extensive experimental work. Desires position as executive or research engineer with reliable company or as professor of mining with first-class college. A-909. Mining engineer. Twenty-five years' experience including mine and works operation, construction, plant installation, and mine examination. Speaks Spanish. A-1173. Metallurgical engineer. Twelve years' laboratory and operating experience, covering copper blast furnace, roasting, reverberatory smelting and latest Cottrell treater practice on copper dust and zinc dust. Technical graduate. 36 years of age, married. Highest recommendations. Open for immediate engagement. A-2354. Mining engineer. Junior Associate. At liberty about July 1. Captain Heavy Artillery. Single, age 24. Go anywhere. Best refer-ences. A-2843. Engineer. Age 26, single, graduate Missouri School of Mines, B. S. in Mis. Met. E. Desires position with oil or metal company in any capacity. Location immaterial. At present engaged, desires change. A-2844.

Jan 7, 1919

By Wilbur S. Burbank, Robert G. Leudke

The impressive western San Juan Mountains of Colorado were carved by Pleistocene and Recent erosion from a thick blanket of Tertiary volcanic rocks that rests upon a basement of metamorphic, sedimentary, and igneous rocks ranging in age from Precambrian to Tertiary. These rocks record a long, complex, and fairly complete sequence of geologic events that have affected the region through much of geologic time. The geologic history of the region includes several periods of deformation, erosion, and igneous activity; closely associated with two of these periods were two periods of mineralization. The older of these was related to Late Cretaceous-early Tertiary (Laramide) intrusive activity, and its deposits occur in the older sedimentary units. The younger, of later Tertiary age and related to the widespread middle Tertiary extrusive and intrusive activity, is the chief concern of this paper. Tertiary volcanism built a great plateau surrounding the San Juan volcanic depression, a complex of subsided crustal blocks in the vent areas. The Silverton and Lake City cauldrons, nested within the larger depression, were domed by resurgent magma that created keystone grabens along the distended crests of the domed floors and many postcauldron radial and concentric fractures, dikes, and intrusive plutons within and marginal to the cauldron sites. The postvolcanic evolution of large quantities of gases, chiefly carbon dioxide and water, propylitically altered the rocks in and around the volcanic depression prior to the younger period of ore deposition. The ore deposits, localized mainly in the radial and concentric fractures about the cauldrons and in the associated graben faults, include fissure veins, chimneys, replacements, and disseminations in volcanic and underlying basement rocks. Fissure veins, constituting the major economic source, yielded precious- and basemetal ores. Most veins are compound with sphalerite, galena, and chalcopyrite; some veins contain silver-bearing arsenical sulfosalts and free gold. These minerals occur in predominantly quartz gangue. However, gangues composed of several manganese silicates and carbonates and relatively· barren of metals are abundant locally and probably originated by alteration of rocks at roots of faults and fissures during evolution of carbonatic solutions. The bulk of the ores are hypogene and probably had their source in deep parent magmas of the shallow eruptive rocks. Total production since the early 1870's has exceeded half a billion dollars in recovered metals, with a ratio of precious- to base-metal values of about 3 to 2. Since 1930, improvements in metallurgical treatment and mining techniques have increased the base-metal yield.

Jan 1, 1968