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In the Philippines, where distances are spoken of in terms off fight time, the Sipalay copper mines are two flight hours southeast of Manila on the island of Negros. After landing at the airport in Bacolod, it is then 170 km (106 milers) by surface transportation to Marinduque Mining and Industrial Corp.'s expanding copper operation. While copper deposits were discovered in the area in 1936-and one mine, the Binulig, began operations soon after-it wasn't until 1956 that stripping at Sipalay and construction of a 4000-t/d (4400-stpd) mill began. The mill went into operation in May 1957, and the first shipment of copper concentrate was made three months later.

Jan 8, 1978

By D. S. Choi, R. Stefanko

There are a number of complex factors that influence the effectiveness of anchorage to maintain tension in rock bolts. However, a plastic analysis of the anchorage site employing certain simplifying assumptions with application of the Mohr-Coulomb criterion appears to explain the observed phenomena. Such an analysis has been made and a correlation sought with field and laboratory tests. Field tests were made in an anthracite mine in eastern Pennsylvania and included pull tests and long-term tests of a variety of anchorage devices in two basic lengths, 30 and 42 in. in two widely differing seams. Performance is reviewed for wedge, expansion shell, and resin anchorage. Laboratory tests duplicated many of the field conditions but in addition compared the performance of shells with normal and reversed serrations. This performance was compared with the predicted results from the plastic analysis. One of the major problems in conducting long-term underground tests is the selection of suitable instrumentation. All installed bolts were fitted with spherical and hardened washers to insure the best possible torque wrench readings. In addition, commercially available load cells were used. Finally, the performance of a specially developed strain-gage-equipped ring cell is viewed. Rock bolting as a method of support continues to increase with applications in many other industries in addition to mining. Nevertheless, with nearly 55,000,000 roof bolts installed in coal mines alone last year, this remains as the single greatest use. While bolts have frequently supported ground where conventional timbering could not, there are relatively few design criteria; and trial-and-error procedures prevail. Furthermore, there has been a lag in development of suitable instrumentation that is simple to install and read out, sensitive, durable, reliable, safe, and economical in evaluating the effectiveness of a bolt over long periods of time. Therefore, the pull test continues to be the most popular method of evaluating the applicability of a certain type of roof bolt under specific installation conditions. At The Pennsylvania State University in the Dept. of Mining, research has been conducted for a number of years to measure bleed off in carefully controlled laboratory experiments as well as in underground investigations."-' Unfortunately, most of the instrumentation developed has been primarily suitable only for research purposes, not possessing all of the aforementioned characteristics desirable for routine underground use. Other groups also have met with restricted success. Therefore, while relatively crude, the torque wrench continues to remain as the most widely used load measuring device. While both field and laboratory tests continue to be con- ducted, analytical analyses are attempted to discover the more important design parameters in order that more efficient anchorage might be devised. Bolts are being used for a greater variety of purposes in mining. Suspending wire sideframe belt conveyors from roof bolts is a common application. The suspension of a monorail transportation system presents yet another. One such system has just been installed in a recently reopened anthracite mine and is presently being evaluated under production conditions. Preliminary studies revealed that a considerable cost reduction was possible by suspending the monorail on bolts anchored in the top. The monorail was to be installed under two widely differing conditions—a competent sandstone above the Buck Mountain seam and a softer shale top above the Skidmore. The type of anchorage device, length of bolt, and long-term performance, consistent with economy and safety, had to be established for the installation once the decision was made to suspend the system on rock bolts. This paper describes some of the testing procedures leading to a final selection. Theoretical Analysis of Expansion Shell Anchorage A detailed look at an expansion shell assembly might shed some light on the factors involved in the design of a suitable shell, Fig. 1. When a bolt is rotated, the tapered plug is forced downward, expanding the leaves laterally to grip the sides of the hole. Two friction surfaces are present: (1) the interface of the plug and leaf and (2) the interface between leaf and rock. The relationships of these friction planes, geometry of expansion shell, and properties of the rock are important in the design of an expansion shell. Therefore, an analysis assuming the rock to behave as a rigid plastic material with its yield governed by the Mohr-Coulomb criterion was made." Furthermore, the effect of friction between the leaf and rock produced by serrations was analyzed.

Jan 1, 1971

By C. M. Nickerson

IT is apparent that repressuring of the oil measures is becoming increasingly important to the oil industry, and is a matter that warrants the best efforts of the petroleum engineer charged with applying this method of operation to a producing property. Considerable attention has. been directed to repressuring in various California oil fields, such as Dominguez and Seal Beach, which have served to sell the more progressive operator on this idea and also to keep him sold. The projects that have received most attention are in comparatively young fields where the fluid levels are high, the wells, perhaps, still flowing, where the wet gas production is of considerable volume, and where there is vital need of immediate conservation of gas, which otherwise would be blown to the air. The new State of California Gas Law, which prohibits the waste of gas, has served to interest the oil industry in -means of conserving the gas that is now being blown to the air because of lack of markets. This vitally affects the operator in the older, well-depleted oil fields of the state, because in many cases he has a limited market for gas, on account of the flush production from the more active oil fields. While the waste of gas is relatively small in these older fields, such as the Midway-Sunset area, it now attains considerable importance, since under the new State Gas Law it must be put to some beneficial use. Repressuring in the older fields of California has not received the attention of the petroleum engineers that is warranted by the present situation. This paper was prepared with the view of presenting the salient features connected with repressuring in the well-depleted oil measures of the older fields, and to show what results have already been obtained in these fields by injecting the unmarketable. gas into the sands, particularly in the Midway-Sunset field in the San Joaquin Valley of California. Other projects in the older fields of the state offer some supporting data in this connection, such as the Shields Canyon and the Brea Canyon fields.

Jan 1, 1929

By Fred D. DeVaney and

The coercimeter, as its name implies, is an instrument for measuring the coercive forcet of magnetic substances. It was developed by Davis and Hartenheim in the Special Studies Section, Metallurgical Division. A detailed description of this apparatus may be found elsewhere.2 The coercive force determinations of magnetic materials are interesting because of the relationship established by Gottschalk,4 who showed a linear relationship between the magnetization coercive force and the specific surface of comminuted particles. The value of this relationship in determining grinding efficiency has been shown by Dean.3 The determination of the surface contained in the subsieve sizes has always been a difficult problem for investigators. They made approximate measurements of the surface of coarse materials by sizing on screens, but for the determination of the surface of the sub-sieve sizes it was necessary to make detailed grain counts or elutriation tests, or to study dissolution rates. The technical literature contains many references to other methods for determining these surfaces, either by some special apparatus or by mathematical calculations based on distribution lines. Many of the methods are long and tedious, and the results of some, at least, are questionable. he turbidimeter gives quick results on ground cement. By using magnetite as the material to be ground, a simple determination of its coercive force by the coercimeter, requiring 10 minutes or less, can be transposed directly and accurately into units of relative surface. This subject has been pursued further by the U. S. Bureau of Mines in cooperation with the Missouri School of Mines and Metallurgy, Rolla, Mo., and the following is a description of the results.

Jan 1, 1939

By Fred D. DeVaney and

The coercimeter, as its name implies, is an instrument for measuring the coercive forcet of magnetic substances. It was developed by Davis and Hartenheim in the Special Studies Section, Metallurgical Division. A detailed description of this apparatus may be found elsewhere.2 The coercive force determinations of magnetic materials are interesting because of the relationship established by Gottschalk,4 who showed a linear relationship between the magnetization coercive force and the specific surface of comminuted particles. The value of this relationship in determining grinding efficiency has been shown by Dean.3 The determination of the surface contained in the subsieve sizes has always been a difficult problem for investigators. They made approximate measurements of the surface of coarse materials by sizing on screens, but for the determination of the surface of the sub-sieve sizes it was necessary to make detailed grain counts or elutriation tests, or to study dissolution rates. The technical literature contains many references to other methods for determining these surfaces, either by some special apparatus or by mathematical calculations based on distribution lines. Many of the methods are long and tedious, and the results of some, at least, are questionable. he turbidimeter gives quick results on ground cement. By using magnetite as the material to be ground, a simple determination of its coercive force by the coercimeter, requiring 10 minutes or less, can be transposed directly and accurately into units of relative surface. This subject has been pursued further by the U. S. Bureau of Mines in cooperation with the Missouri School of Mines and Metallurgy, Rolla, Mo., and the following is a description of the results.

Jan 1, 1939

[ ]

Jan 1, 1938

By EL HANAF

The exploratory program initiated in Egypt in 1937 by four major oil companies was well under way early in 1939. Extensive gravity-meter surveys were carried out in the Sinai Peninsula and the Eastern and Western Deserts. Seismic and magnetometer work vas conducted on a restricted scale. The data collected justified wildcat drilling on structures located geophysically and/or geologically.

Jan 1, 1946

PORPHYRY mining in the Bisbee district in Arizona did not begin until 1923, though Bisbee had been the scene of profitable copper-mining operations since 1880, and during the interval had contributed roughly 2,000,000,000 lb. of copper to the world's supply. At that time it ranked third among the copper districts of the United States, first place for total production going to Butte, Montana, and second to the district centering around Calumet, Michigan. Bisbee's production had come from the so-called "limestone" mines operated principally by the Phelps Dodge Corporation and the Calumet & Arizona Mining Co. Each of these companies had a large smelting plant at Douglas, 25 miles southeast of Bisbee on the Mexican border. The town of Douglas owed its existence primarily to the copper mines of Bisbee, the particular location having been determined, first, by the fact that water in adequate supply could be obtained by sinking wells; and, second, by its position about equally distant from Bisbee and the mines in Sonora, Mexico, of the Moctezuma Copper Co., a Phelps Dodge subsidiary. Three partners, Martin, Reilly, and Ballard, conducted the first operations of consequence at Bisbee about 1880; and in 1881 a smelting plant consisting of two 36 in. water-jacketed blast furnaces was erected near by. The ore came from open-cut workings on the later-to-be-famous Queen orebody. The furnace charge is said to have averaged 23 per cent copper-twice as rich as the concentrates from the mills and four times as rich as the smelting ore shipped from Bisbee in recent years. As early as 1881, disputes arose among owners of various claims, and groups of claims, over the ownership of orebodies under the law of apex and extra-lateral rights. This law gives a miner the right to follow his vein downward on its dip, even

Jan 1, 1933

By J. A. Herbst, R. Mackelprang, J. D. Miller

Droplet size distributions were determined by stabilizing in gelatin and measurement of the distributions by means of computerized image analysis Several variables that affect droplet sizes were studied and the resulting size distributions were modeled via a population balance equation Key parameters in the model were related to the physical properties and operating conditions of the systems examined using a multiple linear approach

Jan 1, 1981

By Roswell H. Johnson

The principle of sliding or graduation in royalties is accomplished either by the block, period, cumulative, or class method. The block method calls for a very low royalty rate on all oil produced up to a certain amount. This amount would normally be that which is believed to suffice to repay the cost of the well. A higher rate would be charged after the well is making a profit. This method, common in many industries, is peculiarly inadaptable to any industry such as this where the productivity per day of the units gradually and inevitably decreases. This, for reasons given later, is because it forces an early abandonment of the well and so offends against conservation. In the period method, the royalty rate is changed by some definite amount when the well produces less than a specified quantity per day or other given unit of time. While simple to explain, it operates badly because a great deal is made to depend upon a small reduction in production, whereas the reduction as a matter of fact declines rather erratically owing to the exigency of lease management, connecting of tankage, and vagaries of the gaugers. These disadvantages are obviated by the cumulative method. In this method, all the production less than a certain amount per week has one rate of royalty, or none at all, and the oil produced in excess of that amount pays an additional rate of royalty. In the long run the calculation is probably no greater than with the period method, for simple tables will be published and printed in the oil papers that can be cut out, enabling quick readings to be made. Even without the table the calculation is easy with the few royalty rates, two or three, which would be used. In this method, the amount paid in royalty declines gradually, rather than suddenly as in the period method. The following reasons might be advanced for the adoption oi cumulative royalties: 1. To distribute the burden in accordance with the capacity to pay. This principle is a unique one in business, although familiar in taxation. This is because it does not distribute reward in proportion to efficiency.

Jan 1, 1916

By Paul D. Conatore

INTRODUCTION There are important reasons for a discussion of tungsten resources, reserves, and production in the Circum-Pacific area. First, the world's chief tungsten deposits, as well as most of the world's tungsten reserves and production, occur in this region. It is well known that the world's largest tungsten reserves are located in southeastern China and that for many years, the largest individual mine in the world was there. Although China still has the world's greatest tungsten production, the very high-grade scheelite mine of Canada Tungsten Mining Corporation in the Northwest Territories is the largest producer of tungsten today. There is certainly a great quantity of tungsten in Asia, but the strategic importance of this fact is now offset by the wide distribution of mines and production facilities throughout the world, especially in other parts of the Circum-Pacific area such as Australia, Canada, and the United States. In addition, much of the Circum-Pacific area is comprised of Mesozoic-Cenozoic orogenic belts. These global tectonic units are regarded as very favorable for additional tungsten deposits, particularly scheelite-bearing tactites, and consequently, prospecting and exploration will most likely be concentrated in the Circum-Pacific area. Second, tungsten must be regarded as one of the, most important metals of modern industry because of its very special properties. It has the highest melting point, the highest tensile strength at elevated temperatures, and the smallest compressibility of any metal. The metal also possesses a very high density, excellent corrosion resistance, good thermal and electrical conductivity, and a low coefficient of expansion. As a result, tungsten has found increasing importance in a wide range of industries. From the filament in an electric lamp, to cutting tools and drilling bits, to the exotic radiation shields that protect supersonic aircraft and spacecraft, tungsten plays an indispensable role in our daily lives. The primary objective of this paper is to present an overview of important facets of known and suspected tungsten in the Circum-Pacific area. Resources, reserves, current production, planned capacity expansions, and new operations, as well as an assessment of the probability for development of deposits in the Circum-Pacific area, are discussed. RESOURCES The average crustal abundance of tungsten has been estimated at 0.0015 kilograms per tonne. A comparison of the abundance of various metals in crustal rocks to that of tungsten is presented in Table 1, which shows that tungsten abundance is similar to that of its commonly associated metals, tin and molybdenum. Table 1. AVERAGE CRUSTAL ABUNDANCE OF VARIOUS METALS (Grams per Tonne) [ ] With careful thought, it can be realized that tungsten ore deposits result from the concentration of the metal, through normal geologic processes, to levels substantially greater than its average crustal abundance. The minimum technologically and economically workable tungsten concentration, or cutoff grade, is a function of (1) deposit tonnage, (2) mining and milling methods, (3) production tonnage, (4) capital and operating costs, (5) tungsten market conditions, and (6) value of associated recoverable metals. The tungsten cutoff grade that is currently exploitable at a profit varies from 0.09% W03 to 1.55% W03, reflecting concentration factors from 470 to 8200, as shown in Table 2. Table 2. CURRENT TUNGSTEN CUTOFF GRADES [ ]

Jan 1, 1982

Trans No. Place Date Vol. 1. Wilkes-Barre, Pa. May, '71 1 2. Bethlehem, Pa. Aug., '71 1 3. Troy, N. Nov., '71 1 4. Philadelphia, Pa. Feb., '72.. 1 5. New York, N. Y. May, '72 1 6. Pittsburgh, Pa. Oct., '72 1 7. Boston, Mass. Feb., '73 1 8. Philadelphia, Pa. May, '73 2 9. Easton, Pa. Oct., '73 2 10. New York N. Y. Feb., '74 2 11. St. Louis, Mo. May, '74 3 12. Hazleton, Pa. Oct., '74.. 3 13. New Haven, Conn. Feb., '75 3 14. Dover, N. J. May, '75 4 15. Cleveland, Ohio Oct., '75 4 16. Washington, D. C. Feb., '76 4 17. Philadelphia, Pa. June, '76 5 18. Philadelphia, Pa. Oct., '76 5

Jan 1, 1943

By Klaus Schwerdtfeger

The rate of formation of silicon monoxide from silica spheres has been measured at 1500°C in H2, H2-H2O, H2-He, H2-Ar, and CO-CO2 gas mixtures. Indications are that in the hydrogen-containing gases the reaction rate is mainly determined by convective diffz~sion. In the CO-CO2 mixtures the rate approches a constant value which is independent of sphere diometer (and gas velocity). This suggests that a surface reaction becomes rate controlling in CO-CO2 gas. WHENEVER silica is exposed at elevated temperature to a strongly reducing atmosphere there occurs, inevitably, a volatilization of silica by the formation of gaseous silicon monoxide. Because of the importance of this reaction in metallurgical processes and laboratory experiments, its kinetics were studied in the present work. EXPERIMENTAL The spheres made of vitreous silica were suspended by a molybdenum wire in the hot zone of a gas-tight high-purity recrystallized alumina furnace tube of 3.1 cm internal diam and 100 cm length. Molybdenum wire resistance heating was used. A purified H2, H2-H2O, H2-He, H2-Ar, or CO-CO2 gas mixture was passed through the tube, from top to bottom. The amount of silicon monoxide formed was determined by weighing the silica balls before and after the experiments. The silica balls were made from commercially available translucent fused quartz glass. In experiments with hydrogen-containing gases the silica stayed vitreous during the experiment, whereas in experiments with CO-CO2 mixtures, which were performed over longer times, the balls were always crystallized to cristobalite (as determined by X-ray examination) at the surface. Constant-pressure head capillary flowmeters were used to control the composition of H2-He, H2-Ar, and CO-CO2 gas mixtures. The oxygen and water vapor were removed from the gases containing hydrogen by passage through columns containing platinized asbestos (450°C) and an-hydrone. The CO was purified from O2 and CO2 by passing it through activated copper (200°C) and through ascarite. The H2-H2O gas mixtures were prepared by passing purified Hz through a mixture of oxalic acid dihydrate and anhydrous oxalic acid held at a constant temperature in a water bath. The equilibrium water vapor pressures of oxalic acid dihydrate-anhydrous oxalic acid mixtures were taken from the available data.1 The furnace system was checked for sufficient gas tightness at regular intervals. As an additional check, the H2O and CO2 contents were measured in the exit gas and were found to agree closely with the metered contents when H2-H2O or CO-CO2 mixtures were used. When purified H2 was used, H2O pressures found in the exit gas were always below 0.1 mm Hg. These contents originate either from an incomplete reoxidation of silicon monoxide in the cold part of the furnace or from small leaks which cannot be avoided. If the latter is the case, such small uncontrolled H2O contents decrease the partial pressure of SiO in equilibrium with SiO2 by less than about 7 pct, which is considered small in comparison to other experimental uncertainties. The temperature of the furnace was controlled automatically in the usual manner. The reported temperature was measured with a Pl-Pt/l0pct Rh thermocouple and was accurate to ± 5°C. TRANSPORT-CONTROL LED RATE OF REDUCTION The gaseous convective diffusion from the surface of a sphere can be predicted from the semiempirical relationship obtained by Ranz and Marshall2 in a study of the evaporation of water and benzene drops in air. The following equation applies:

Jan 1, 1967

Trans No. Place Date Vol. 1. Wilkes-Barre, Pa. May, '71 1 2. Bethlehem, Pa. Aug., '71 1 3. Troy, N. Nov., '71 1 4. Philadelphia, Pa. Feb., '72.. 1 5. New York, N. Y. May, '72 1 6. Pittsburgh, Pa. Oct., '72 1 7. Boston, Mass. Feb., '73 1 8. Philadelphia, Pa. May, '73 2 9. Easton, Pa. Oct., '73 2 10. New York N. Y. Feb., '74 2 11. St. Louis, Mo. May, '74 3 12. Hazleton, Pa. Oct., '74.. 3 13. New Haven, Conn. Feb., '75 3 14. Dover, N. J. May, '75 4 15. Cleveland, Ohio Oct., '75 4 16. Washington, D. C. Feb., '76 4 17. Philadelphia, Pa. June, '76 5 18. Philadelphia, Pa. Oct., '76 5

Jan 1, 1934

Trans No. Place Date Vol. 1. Wilkes-Barre, Pa. May, '71 1 2. Bethlehem, Pa. Aug., '71 1 3. Troy, N. Nov., '71 1 4. Philadelphia, Pa. Feb., '72.. 1 5. New York, N. Y. May, '72 1 6. Pittsburgh, Pa. Oct., '72 1 7. Boston, Mass. Feb., '73 1 8. Philadelphia, Pa. May, '73 2 9. Easton, Pa. Oct., '73 2 10. New York N. Y. Feb., '74 2 11. St. Louis, Mo. May, '74 3 12. Hazleton, Pa. Oct., '74.. 3 13. New Haven, Conn. Feb., '75 3 14. Dover, N. J. May, '75 4 15. Cleveland, Ohio Oct., '75 4 16. Washington, D. C. Feb., '76 4 17. Philadelphia, Pa. June, '76 5 18. Philadelphia, Pa. Oct., '76 5

Jan 1, 1944

Trans No. Place Date Vol. 1. Wilkes-Barre, Pa. May, '71 1 2. Bethlehem, Pa. Aug., '71 1 3. Troy, N. Nov., '71 1 4. Philadelphia, Pa. Feb., '72.. 1 5. New York, N. Y. May, '72 1 6. Pittsburgh, Pa. Oct., '72 1 7. Boston, Mass. Feb., '73 1 8. Philadelphia, Pa. May, '73 2 9. Easton, Pa. Oct., '73 2 10. New York N. Y. Feb., '74 2 11. St. Louis, Mo. May, '74 3 12. Hazleton, Pa. Oct., '74.. 3 13. New Haven, Conn. Feb., '75 3 14. Dover, N. J. May, '75 4 15. Cleveland, Ohio Oct., '75 4 16. Washington, D. C. Feb., '76 4 17. Philadelphia, Pa. June, '76 5 18. Philadelphia, Pa. Oct., '76 5

Jan 1, 1936

By V. R. Garfias

INTRODUCTION FOR a number of years the senior author has been interested in the various geologic and engineering problems involved in the development of the petroliferous districts of northeastern Mexico, having in a previous paper 1 endeavored to present a summarized statement of the information relating to the geology and soil resources of this region. Of the many interesting geologic phenomena, perhaps those which have been the object of more speculation relate to the igneous intrusions which, in places, have a controlling influence on the accumulation of oil in commercial quantities, a relationship which has been tentatively explained by various observers with as many interestingly different views. The authors of the present paper aim to record, in the course of a general discussion of the various viewpoints, some additional data, and present further tentative conclusions with a view to rounding out an up-to-date summary of the subject. The greater part of the area in question lies in the State of Vera Cruz, only a northwest fraction being in the State of San Luis Potosi. Vera Cruz is bounded on the north by the State of Tamaulipas, the northernmost of the Mexican States along the Gulf. The topography of the States of Tamaulipas and Vera Cruz and of Texas and Louisiana to the north, is controlled by the Gulf coastal plain which in northern Vera Cruz has an average width of about 60 miles, the transitional topography between that of the rugged flanks of the Sierra and the lowlands of the coast being made up of a series of terraces and irregular hills and valleys.

Jan 8, 1917

The American mining industry is vigorous today because it is young. At a time when the ore deposits of central Europe, for example, were being exploited actively, those of the United States were lying practically untouched. The founding fathers of our republic were not interested in mineral wealth because they were ignorant in such matters; their preoccupations were with defence against the Indians, the clearing of the forest, and the starting of agriculture in their new domains. They had no idea of establishing a mining industry. The Indians whom the American colonists dispossessed had no mines; they used only the metal that was to be found lying on the surface of the ground. Their arrows and spears were tipped with flint, which likewise called for little digging, if any. The native copper that glacial action had torn from the lodes of the Lake Superior region and had carried into the valleys of the Ohio and Mississippi was employed in the making of earrings, bracelets, knives, and scrapers. The same useful metal was found in many other places, in Virginia and Carolina, in Vermont and New Jersey, for example, but the Indians did not know how to melt it, much less how to smelt the ore, therefore they shaped it into tools and implements by hammering. Fortunately for them the hammering of the metal caused it to harden and therefore to become serviceable for implemental use. It is doubtful if they obtained the copper by actual mining, that is, by digging or excavating; it is true we find traces of such operations in the Keweenaw .peninsula of Michigan, but we have no

Jan 1, 1932

INTRODUCTION The after-tax rate of return that properly discounts future cash flows is usually referred to as the "discounted cash flow-rate of return" (DCF-ROR). The method is also referred to as the internal rate of return, true rate of return, and investor's rate of return in some literature. According to Stermole (1974, p. 188) industry polls indicate that the DCF- ROR method is the number one economic evaluation decision method used by more than 90% of the industrial companies that use for- mal economic evaluation procedures. Other economic evaluation methods that have been used in the past, such as payback period, accounting ROR, etc., have largely given way to DCF-ROR analysis because they fail to account properly for the time value of money. DCF-ROR is generally defined as that rate of return that makes the present worth of future generated cash flow over the life of the project (including after tax salvage value) equal to the present worth of all after-tax investments. The "present worthing" of future cash flow involves discounting future cash flow to a present value according to the mathematics of compound interest at some interest rate. The determination of the interest rate that equates the present worth of future after-tax earnings with the present worth of all after-tax investments necessary to create such earnings is properly called the discounted cash flow rate of return analysis. Although present worth calculations are usually used for determining the DCF-ROR, the same results can be obtained by comparing income and costs of any equivalent point in time, i.e., future worth, etc.

Jan 1, 1980

By A. Boltax

Precipitation processes occurring during both furnace cooling and aging of copper-iron albys were studied by means of electrical and magnetic measurements. On furnace cooling, two distinct stages in the precipitation process were detected; one occurring above and the other below 850° C. The kinetics of precipitation from quenched alloys were studied between 200° and 700°C. The reaction appears to be consistent with the concept of tmcleation of precipitate particles at dislocation loops formed by the clustering of quenched-in vacancies. A study Of in copper-iron alloys is particularly interesting because the combination of magnetic and electrical properties in these allovs provides a quantitative means of following the course of the precipitation reaction. (The details of precip-

Jan 1, 1961