REFINERY OPERATIONS. The refineries maintained by the mint service handled the following: NOTE. The San Francisco refinery operated for a period of five months. WASTAGE AND LOSS ON SALE OF SWEEPS. The value of metals wasted in the operative departments during the fiscal year ended June 30, 1917, was $9,954.61. A loss of $6,036.64 occurred from the difference between the assay value of the bullion contained in sweeps sold and the amount received for the same; details are given below: The net gains from operations on bullion during the fiscal year 1917 amounted to $355,248.91, as follows: BALANCES, RECEIPTS, AND DISBURSEMENTS OF GOLD BULLION. Balances of gold bullion on hand June 30, 1916, and receipts, disbursements, and balances June 30, 1917, at the mints and assay offices, are shown in the following table: Total.. $64, 400, 059.97 804, 466, 177.70906, 919, 830. 361,711,386,008. 06 161,028,025. 30 1,550, 357,,982. 76 DETAILED RECEIPTS (AS ABOVE). 177, 871. 69 639, 124. 45 543, 254.75 207, 809. 04 195, 493.26 953, 708. 59 914, 838.00 720, 248. 82 778, 357.64 763, 235. 33 177.76 231, 731. 45 231,909. 21 230, 669.96 487, 812. 06 1, 239.72 11, 206, 085. 39 11,693, 897. 45 11, 139, 260. 17 Total......49, 350, 329. 54 13,832, 622. 21 104, 366. 08/94, 062, 901.56 3,677,638.32 3. 71 11, 139, 260.17 .34,493. 11 167. 59 161,028,025. 30 Represents $30,040 in McKinley memorial U. S. dollars; $4,653.54 Costa Rican coin; $2,442,944.78 Peruvian coinage blanks. 4U. S. coin. STANDARD SILVER DOLLARS USED IN SUBSIDIARY SILVER COINAGE. There were purchased as bullion and melted at the mints and assay offices 961 mutilated silver dollars during the fiscal year ended June 30, 1917, which were used in the manufacture of subsidiary silver coin. The following have been used since 1883: Fiscal years. Amount. Fiscal years. Amount. Fiscal years. Amount. Fiscal years. Amount. RECOINAGE OF UNCURRENT SILVER COIN. The table following shows the face value of abraded United States subsidiary coin received for recoinage, the amount of new coin made therefrom, and the loss, since 1891: The loss on the recoinage of $1,922,032 in worn and uncurrent gold coins was $15,143.16, and the loss on the recoinage of $8,849,678.05 in worn and uncurrent silver coins was $221,818.01. The Treasury was reimbursed from the appropriation for that purpose the following losses on uncurrent coin transferred during the fiscal year 1917 for recoinage: LABORATORY OF THE BUREAU OF THE MINT. From the domestic coinage of the calendar year 1916 the assayer of this bureau tested 78 gold and 302 silver coins, all of which were found within the legal requirements as to weight and fineness. In the gold coins the greatest deviation above standard in fineness (the legal limit being 1 above or below) was 0.3, while the greatest deviation below was 0.5. The greatest deviation in fineness of silver coins above standard (the limit being three above or below) was 1.3, while the greatest deviation below was 0.9. The following table and statement summarizes these assays: Twelve Philippine coins were examined, all of which were within the legal requirements. The examination of certificate bars was continued throughout the year, a varying number of samples from 421 melts having been assayed. In the extended examination into our assaying methods, now going on, it was shown that while standard gold does not often segregate when cast into coin ingots, yet, when cast into the larger certificate bars, it does show appreciable segragation, and chip samples from a melt may average 0.1 in fineness below the granulations. PROCEEDINGS OF THE ASSAY COMMISSION, 1917. The following-named gentlemen were designated by the President as commissioners to examine and test the weight and fineness of the coins reserved at the several mints during the calendar year 1916, pursuant to the provisions of section 3547 of the Revised Statutes of the United States: Hon. Victor Murdock, Wichita, Kans.; Mr. Ole Hanson, Seattle, Wash.; Mr. Thomas B. Love, Dallas, Tex.; Mr. Verner Z. Reed, Denver, Colo.; Mr. G. R. DeSeussure, Jacksonville, Fla.; Mr. Duncan Gibson, Lexington, Ky.; Mr. E. D. Morcum, Sioux Falls, S. Dak.; Mr. Miller S. Bell, Milledgeville, Ga.; Dr. Marcus |