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By FREDERICW K. BRADLE

I HAVE been puzzled by two lines of thought'; one emanating from Washington, D. C., to the effect that we must all cheer up, that in a very short time, measured in terms of months, prices would begin to recover, business would become normal, and prosperity would continue on its way just as before the interruption of a year ago; and a second, coming from certain industrialists and economists, expressing fears that all commodity prices were in for a long downward trend, which would cause much unemployment, eventually drag down wages and so restrict purchasing power as to further aggravate the situation. One basis for the fear of a downward trend in commodity prices' is that ifter great wars a depression could last for something like 40 years-the downward trend to such a depression after our recent World War having been postponed for some reason or other; and the basis for another fear was that the production of gold was becoming less. I had 'also been trying for some time past to refresh my recollection as to how my ow11 particular lead interest climbed out of the depression of 1893; and as all the metals have had, and still have. relative values and prices, I can best express what I have in mind by talking principally about lead.

Jan 1, 1930

Ferrous and Nonferrous Physical Metallurgy Established as a Division April 26, 1918 T A Read, Chairman O T Marzke, Past Chairman J H Jackson, Senior Vice-Chairman David Swan, Vice-Chairman D C Johnston, Secretary-Treasurer AIME, 29 West 39th Street New York 18, New York

Jan 1, 1960

By CHARLES M. A. STINE

THE value of chemical research has been so thor¬oughly demonstrated in the last few decades that the general public has become "research-conscious" to an extent which allows the advertising agent and publicity man to make use of research as a selling point in his advertising campaigns. We thus see the advertisements of concerns in the most varied industries stressing the research which is back of their products. The reason for this "research-consciousness" of the general public. is primarily that the products of research have increasingly engaged public attention and have. revolutionized our daily life. When we. reverse the flight of .time and imagine ourselves-in the century previous to our own, we find that we are .without the automobile, the radio, the improved telephone and electric light, refrigerated transportation, the airplane, X-rays, and many other things now taken for granted. A generation ago we find gloomy prophets foretelling the certain over-population .of the world within a few decades and an insufficiency of food due to lack of the fixed nitrogen which is now so plentifully ours.

Jan 1, 1930

By Arthur Notmon

WORLD production of the three major nonferrous metals, copper, lead, and zinc, in 1939 will aggregate about 6,050;000 tons, compared with the all-time peak of 6,237,944 tons in 1937, and the previous peak of 5,679,442 tons in 1929. The United States will furnish 30.9 per cent of the total compared with 30.4 per cent in 1937 and 41.3 per cent in 1929. Table 1 gives the details of the three metals.

Jan 1, 1940

By M. R. Tek, K. H. Coats, D. L. Katz

The performance of a gas reservoir su,bject to water drive is often affected by interference due to gas procluction or injection in neighboring reservoirs adjacent to a common aquifer. Field data available on production-pressure behavior of several reservoirs indicate that prediction of reservoir performence must include the effects due to mutual interference. A method developed to predict the performance of two or more interfering gas reservoirs, subject to specified production-iniection .rchedule.s, is presented. The method involves the comhinatiorz of the theory of unsteady-state water movernent with appropriate meterial balance consideration.s. The procedure which extends M. Mortada's treatment for interfering oil reservoirs makes use of his dimen-.sionless pressure drop quantities. prevented graphically in the literature. In order to evaluale the predictive accuracy and practical field applicability of the theory, the method has been applied to analyze the performance of two actual gas reservoirs in mutual interference. The calculations were performed on an IBA4 704 computer. The predicted performances were alro calcltlated with the interference effects ignored. The results show that considerably better agreement between calculated and observed behavior ic. obtained when the interference effects are included. INTRODUCTION Fluid communication between any number of oil or gas reservoirs adjacent to a common aquifer results in mutual interference effects on their production-pressure behavior. The theory, application and interpretation of pressure build-up behavior of oil wells, drawdown tests on oil or gas-producing formations and behavior of several storage reservoirs indicate ample experimental evidence of mutual interference. A method developed to compute the behavior of interfering oil reservoirs was published several years ago by Mortada.4 Studies conducted during the recent years on underground storage of natural gas clearly indicated the need for extending Mortada's work to the case of interfering gas reservoirs. The adoption of appropriate material balance equations in conjunction with the unsteady-state pressure interference theory yields pressure-explicit equations. Their solution, their application to a specific case history and an over-all evaluation of the developed method through the comparison of predicted and observed field performances were the main objectives of this study. DEVELOPMENT OF MATHEMATICAL RELATIONS The diffusivity Eq. 1 governs planar, radial, unsteady-state compressible liquid flow through a porous medium. ?p/?r2+1/r ?p/?r=µFc/k ?p/?t (1) The 1iterature1,2,3 contains derivations and solutions of

By AIME AIME

THE John Fritz Gold Medal for 1929 was presented to Herbert Hoover at the Executive Mansion on April 25, at a luncheon given by Mr. Hoover to present and past members of the Board of Award, preceding medalists, and presidents and secretaries of the American societies of Civil, Mining and Metallurgical, Mechanical, and Electrical Engineers. The presentation party of forty engineers which gathered at the White House, from all parts of the United States, was made up of past presidents of the four senior national engineering societies that established the John Fritz Medal and included five men who had received the medal in previous years. These former medalists were Edward Dean Adams, J. J. Carty, J. Waldo Smith, Elmer A. Sperry and Ambrose Swasey. This medal is the highest honor bestowed by these four national engineering societies, having a membership of 60,000. It is awarded not oftener than annually for "notable scientific or industrial achievement, without restriction on account of nationality or sex." In accordance with custom, the award to Mr. Hoover was made tentatively and without announcement in October, 1927, and was formally con- firmed and announced one year later.

Jan 1, 1929

By K. Leutwyler, H. L. Bigelow

Jan 1, 1966

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By F. A. Seward

A1though the expanding Eltran1 configuration has been used in induced polarization exploration for several years, there has been little application of this method to straight resistivity problems. A comparison of results of resistivity exploration by this technique versus those obtained from Wenner configuration surveys reveals a number of advantages in interpretative resolution as well as in field operation. The application of electrical resistivity to ground-water exploration is well known.= In the past a major portion of this work has been accomplished by use of one or more variations of a technique employing the Wenner3 electrode configuration. With the introduction of the frequency domain technique of induced polarization measurements, used primarily in the exploration for disseminated sulfide deposits, there arose the need for an electrode configuration by which potentials could be measured externally to the current electrode spread in order to minimize coupling between current sending and potential receiving circuits. It was also deemed desirable that the configuration would provide information laterally along profile as well as with depth. To reach these objectives the expanding dipole-dipole configuration (which probably first was used in the electrical transient method of exploration and from which the name 'Eltran' was derived) has been adapted to induced polarization exploration. The author has successfully applied the same techniques

Jan 1, 1963

By Stuart St. Clair

EARLY in 1936, when the American Petroleum Institute issued -J "American Petroleum Industry," which was a survey of the current position of the petroleum industry, and its future outlook, and the figures for petroleum requirements .for 1950 and 1960 were widely publicized by the several oil journals, the impression was given that the petroleum- industry must be nearing maturity and would by 1950 have passed the high' point of its obligations to business progress in the United States.`' Let -us look at the figures which might conduce, this thought. Referring to p. 32 of the report, the total indicated crude-oil requirements in 1940 are 1,099,000,000 bbl-; for 1950, the peak, 1,109,800,000 bbl.; for 1960 a decline to 1,071,020,000 bbl. This downward trend, then established, is probably expected to continue. And this in the face of a crude production in 1935 of 993,942,000 bbl., 38,858,000 bbl.

Jan 1, 1936

By Claus G. Goetzel

POWDER metallurgy is known as the art of producing metal powders and fabricating them in a nonfusion process by a simultaneous or consecutive application of pressure and heat under controlled operating conditions. Before the advent of powder metallurgy, the high melting points of the refractory metals and nonmetals made their manufacture and use practically impossible. Today, however, the uses of refractory materials in high-speed cutting tools, surgical instruments, brake linings, electrical contact switches, and filaments in incandescent lamps are commonplace in industry. Lately designers have even been turning to powder metallurgists to develop new techniques of fabricating refractory materials for extreme-service use in high-temperature zones of such modern products as gas turbines and jet engines. The new techniques being born will undoubtedly provide industry with a great number of new alloys and materials for future designing.

Jan 1, 1948

By Louis Moyd

In the preparation of illustrations to accompany reports of investigations concerning particle shapes of various natural and manufactured materials proposed for use as fine aggretates in concrete structures, it was found that stereoscopic views of such materials presented the information much more effectively than the usual two-dimensional photographs. With the whole-hearted cooperation of the Photographic Section, a technique was developed in the petrographic laboratory of the Concrete Research Division, U.S. Corps of Engineers, at Clinton, Miss., for simple and rapid preparation of paired stereoscopic photographs and micrographs. The method requires only equipment which is usually part of the general stock of any laboratory, and it is adaptable for all purposes in which three-dimensional views would be found superior to ordinary photographs.

Jan 1, 1949

By Theodore Marvin

FOLLOWING the receipt of questionnaires from many parts of the world, the Aviation Committee is completing a review of the use of aviation in mining and petroleum operations. The summary of this study should be available at the 1937 Annual Meeting in New York City, at which time several papers will be presented on specific application of aerial geologizing. From the reports received, there is little question that this air branch of mining is here to stay. Of course, the transportation of personnel arid material continues to merit attention but it is in the division of aerial geologizing that flying is finding its widest, most technical application.

Jan 1, 1937

By Felix Edgar Wormser

JUST as the ancients used the products of their crude mining endeavors to fashion tools with which to make digging easier, so today mining enterprises are dependent upon the very metals they mine for the efficient conduct of mining and metallurgical operations. In fact, the outlet afforded by the production of minerals in the United States is no mean market for the nonferrous metals. I believe that mine managers frequently lose sight of the opportunity they have to select from competitive products those which will help the market for their own metal output. For example, some years ago a large lead mine used storage-battery locomotives for its haulage, common practice, of course, throughout the United States. These particular locomotives, however, were powered not with the ordinary lead storage battery but by a competitive battery product made from an imported metal. After studying this situation, the manager saw how he could help himself by purchasing a product made from his own mineral output, and in his next order turned tip the use of the lead storage battery.

Jan 1, 1935

By E. W. Rouse

THE year 1936 has seen rehabilitation of many plants which had been closed or severely curtailed. The Steptoe smelter of the Nevada Consolidated Copper Co. has been transformed by a rearrangement of the flow of material and utilization of mechanical handling to a maximum. The Phelps Dodge Corp. reports the construction of newer and better reverberatories at the Copper Queen smelter, and of particular interest, a single high-pressure waste-heat boiler placed directly over the uptake. There has also been a complete reconstruction of the smelter at the Laurel Hill plant of the Nichols Copper Co.

Jan 1, 1937

By TENNEY C. DeSOLLAR

TRADITION tells us that the earliest use of Alabama iron was to make shoes for the horses of General Andrew Jackson and his men during the first part of the nineteenth century. The first recorded incident in the making of iron was the request of U. S. Indian Agent Benjamin Hawkins "that a crew of blacksmiths be sent to the Creek Nation in the lower Mississippi territory." These frontiersmen made up the first body of pioneer iron makers in the territory. The first known blast furnace was built by Joseph Heslip in 1818 at Russellville, named after Major William Russell, who was General Jackson's chief of scouts. The Tannehill furnace was built in 1830 in what is now Tuscaloosa County and its ruins, as shown above, can be seen today.

Jan 1, 1937

By Edward H. Williams

IN the middle of the eighteenth century John Frazier and wife, Sarah Ingraham, removed from Boston, Mass., to Philadelphia, Pa., where he was held in such esteem that we find him one of the Committee which arranged the ball at Washington's inauguration. Their son John. Nalbro Frazier, was prosperous in his mercantile career and fortunate in his wife, .Anne West; who was an important personage in the early life of Professor Frazier. This cultured lady brought into the family an atmosphere of religious enthusiasm, of thoroughness and: of unity of purpose. Her son, Benjamin West Frazier, inherited her traits and displayed them during a. short and active life. Like his father, he engaged in mercantile pursuits, and was a member of the firm of Zimmerman, Frazier & Co. In their interests he lived for a short- time in Montevideo, and on his return married Isabella Zimmerman, a daughter of the head of the firm. Their happy married life was cut short by the death of Mrs. Frazier shortly after the birth of the subject of this sketch which, occurred October 3, 1841. Mr. Frazier did not long survive her, and left his orphaned sons to, the care of his mother, from whom he had inherited a lovable and deeply religious nature, an : artistic temperament and a capacity for thorough work. Whatever of these traits fell by inheritance to these children were strengthened by the influence of their grandmother, and. the purity of mind, the delicacy of sentiment, the refinement of honor, which characterized. Professor Frazier, are due to Anne West Frazier, and are generally present in the characters of all of gentle blood who have been under the sole and immediate influence of a mature and refined woman. Professor Frazier was educated at the Episcopal Academy in Philadelphia, and passed thence through the University of

Sep 1, 1905

By Frank Armstrong

ALL the mining machinery of the Penn Iron Mining Co. has been operated by electric power for several years and when another shovel for stockpile loading was required the advantages of an electric shovel were naturally considered. After considerable study, serious objections suggested themselves the use of a shovel operated directly by electrical apparatus by reason of the complicated control, severe service on the motors FIG. 1.-ELECTRO-HYDRAULIC SHOVEL FIG:. 2-THE SHOVEL AS IT WAS OPERATED CINDER CONSTRUCTION. THE FIRST YEAR. and the heavy surges of current required from the line. It was finally decided to construct an electro-hydraulic shovel using water under pressure to perform all the necessary operations except that of propelling, for which a separate motor was best suited. A car body with boom, dipper handle and dipper of late design, but without any of the steam machinery, was purchased. A motor-driven centrifugal pump, a pressure tank, an air tank, a small air compressor and water cylinders with plungers, pistons and valves, were installed in place of the; steam equipment. Fig. 1 shows this shovel under construction and Fig. 2 shows it as it was operated during the first year, the summer of 1914. The large tank at the back of the car, in Fig. 1, carried air under

Jan 2, 1916

By Scott Turner

GOLD AND SILVER, the monetary metals, have presented in the last year a striking contrast; gold has experienced unusual prosperity, while silver has been depressed more severely than ever before. Gold mining has been hailed as the only basic industry that is able to thrive on depression; the new gold produced is thought by many to be the most important material for the reconstruction of prosperity. Silver production, meanwhile, has been sinking to its level of 40 years ago, and its price to a level never before recorded. These factors have reduced the value of silver produced in 1932 to about the value of the average annual production more than a century ago, that of the decade 1801-1810. No other major commodity in world trade appears to have suffered a greater decline during the present depression.

Jan 1, 1933

By H. Foster Bain

THERE has never been a great civilized nation which did not have a mining industry; civilization cannot flourish without metal mining. Without tools we can have none of the 'industries that are the foundation of civilization and without metal mining we cannot produce the material of which tools are made. Therefore, if we have no metal mining we have no metals, no tools, no civilization. An example to illustrate this may be drawn from a recent article in the Saturday Evening Post which described the run-down condition of modern Athens. Athens is nothing but a busted mining camp! In its palmy days the Greeks so applied the leasing system to the silver mines of Laurium that the royalties, paid the expenses of government and instead of a tax bill the inhabitants received a pay check. The Persians came over to capture these mines but the Greek navy was built to defend them. When the silver mines played out, Greek civilization declined.. Our mining must continue if our civilization is to continue.

Jan 1, 1921