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By F. O. Garrabrant

Power is furnished to the Climax Molybdenum Co. by the Public Service Co. of Colorado over two 100,000-volt lines to a bank of three 3333-kva. transformers 100/13.8 kv. These transformers are so designed that with the addition of forced cooling their capacity may be increased 33? per cent at 12,000-ft. altitude. Under present conditions, these transformers are operated at 140 Per cent of their rating with forced air cooling. On the secondary side of this bank there is a 15-kv., 1200-amp. Westinghouse oil circuit breaker provided with automatic reclosing relays allowing three successive short circuits before lockout. From this breaker 13.8-kv. power is transmitted to a central switching station (Fig. I) where all circuits radiate to the different operations of the property. Each circuit is protected by a 23-kv., 600-amp. oil circuit breaker with by-pass and isolating disconnecting switches. Mine Power at 13.8 kv. enters the mine through a ventilation raise over a three-conductor, size 1-0 varnished cambric insulated, leaded, steel-wire armored cable, insulated from 17 kv. This power is received and distributed through one switching station and four underground substations, shown in Fig. 2. No. 370 substation (Fig. 3) contains three a 13,800/440-volt, single- phase Pyranol transformers protected on the high-voltage side by a 600-amp. manually operated oil circuit breaker. This station serves 20 slusher-hoist motors, a 45-kw., three-phase, 220-volt electric furnace, a Massco hot miller for tempering and milling Timken detachable bits and a hoist with 175-hp motor on the No, 3 development shaft. Also at this shaft are three pumps. One two-stage pump, 1200 gal, per min., 500-ft. head, 3600 r.p.m., driven by a 150-hp. motor, is at the bottom of the shaft, Two deep-well pumps, 500 gal. per min., 500-ft. head, are at the collar of the shaft. under normal operation the one pumping 1200 gal. per min, is controlled by a float switch to take care of the water. If this pump fails, or if its capacity is insufficient, the first 500-gal. pump is automatically started1 and if still more capacity is needed the second 500-gal. pump automatically starts. Time delay relays are provided on the deep-well pumps, so that if power fails the column will have time to drain before the Pumps restart. On failure of any Of these, an alarm is sounded in the train dispatcher's office, so that mechanics can be sent to ascertain the cause of failure and make repairs. The cable from No. 37' substation is run to the switching station, in which are four 15-kv., 600-amp. direct-current sole-noid-operated oil circuit breakers. The current for Operating and tripping is furnished by a 125-volt storage battery. All breakers are operated from the switchboard in the compressor room. One circuit from this switching station goes to the

Jan 1, 1946

By Paul T. Benson

MOST important of the various departments of a custom smelter, so far as the financial welfare of the plant and the confidence of shippers are concerned, is that responsible for correct weights, accurate moisture sampling, and the obtaining of control samples that are strictly representative of the lot of ore from which they come. Treatment rate schedules are based on the metal content of ores received, reduced to dry weight. These rates must be low enough to keep the ship- per from taking his business else- where and still must allow the smelter a profit. Assay results, likewise, must satisfy the shipper, but if they show too high a metal content for the ore they represent, the smelter will actually lose money. It is always considered, and constant checks through umpire assays prove, that laboratory results are closely correct, so the bur- den of the plant profit and loss and the satisfaction of the shipper rest squarely upon the sampling department.

Jan 1, 1936

By R. P. Smith

IN 1937 the employees of the Hollinger Consolidated Gold Mines Ltd., at Timmins, Ont., Canada, approached organized medicine for a plan to provide themselves and their families with a complete medical service including hospitalization. This approach was made because of two conditions: (1) the necessity for some organization whereby contributions could be made in instalments to offset the sudden and large expense connected with illness for which the average employee is not prepared, and (2) the need for a more cohesive quality of service to replace a contract practice then in vogue, which did not take care of the employee's family or dependents. In different parts of the United States and Canada similar plans were in force, not only for employed groups but for numbers of people in circumscribed areas. In Europe different countries had adopted various forms of health insurance plans. It then was no surprise that these employees as a group should ask for some similar plan. With the cooperation of the management, a plan was instituted. The plan has one object only-the provision of medical services, including the accessory services such as hospitalization, X-rays, nursing, and necessary drugs and medicines. It is not concerned with cash benefits, sickness and accident payments, or any form of monetary return as the result of illness, but is simply an organization to provide medical services and pay for them from a central fund. It is a nonprofit organization and the only shareholders are the employees and their families who contribute and who in turn receive services. The Hollinger plan is limited to the employees of the Hollinger mine, who live in Timmins and the immediate vicinity. At first, the membership was voluntary. In the third year, it was made a condition of employment, with the proviso that at the end of any Association financial year an employee may withdraw if he wishes to do so. After withdrawal, he cannot again become a member until the end of the next Association year, and then only by the payment of the back dues. This step was taken to ensure continuity, and to prevent employees from withdrawing when well and reentering when faced with impending illness or operations. The employee himself is subject to medical examination on application for employment, and if accepted is subject to further examination by a specialist in chest diseases under the Workmen's Compensation Board of Ontario. Thus it is possible to exclude those who have heart disease, tuberculosis, or other disabling conditions when first employed. Wives and families of employees are not subject to medical examination but other dependents of an employee-mother, father, or other relative-who are declared by the employee to be wholly dependent upon him must be examined. The employee

Jan 1, 1944

By Lyden, Joseph P.

THE Picher Mining Field, fig. 1, which lies between Baxter Springs, Kansas, and Commerce, Okla., is the most intensely mineralized and the largest zinc-lead ore producing area in the Tri-State District of Missouri, Kansas, and Oklahoma. It has a vast lateral extent of underground workings that is unequaled for the observation of the geology of zinc-lead ore bodies in sedimentary horizons; and thousands of churn drill holes in the unmined areas supplement the underground observations with useful data for the interpretation of the geology. This paper is confined to the ore deposits of the Picher mining field. The reader is referred to the bibliography for the general geology of the Tri-State district which has been ably covered by many geologists. The writer was co-author of several publications on the Tri-State district.- This paper is necessarily a repetition of parts of those publications but contains a few changes and additions on the deposition of the minerals. The parts of this paper concerning mineralization maps and pipe slump-structures are not covered in the above publications.

Jan 1, 1950

By AIME AIME

MINERALS and mineral resources are recognized as one of the things that nations are prone to quarrel about. The territory that was arbitrarily incorporated into the Polish Republic after the World War produces a variety of essential minerals on a substantial scale. The accompanying table has been compiled to give some idea of the relative importance of this production. Poland, before the recent war started, had an area of 150,000 sq.mi., just a little larger than the State of Montana. Its population was 32,000,000, equal to that of New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts. Though not a highly industrialized country it nevertheless has important mines, steel plants, petroleum refineries, and sundry metal-fabricating manufactories. Coal, petroleum, iron and steel, zinc, lead, pyrite, potash, and salt are produced in excess of the country's domestic consumption. It has no appreciable production of copper, chromium, tungsten, nickel, tin, mercury, manganese, aluminum, magnesite, fluorspar, or graphite.

Jan 1, 1939

By Thomas T., Read

THE education of adolescents to perform the duties and assume the responsibilities of maturity has been a characteristic of human society since the dawn of history. In the beginning the members of the immediate family performed this function, and in modern life they still have an important part in it. Possibly religion was the first field in which education began to be functional; young people were sent for instruction to a teacher who had a broader and deeper knowledge of the subject than was possessed by the family. It does not seem necessary for our purpose to attempt to determine how, when, or where instruction in the practical arts first' began to become functional, and the brief outline which follows must suffice. The discovery and utilization of mineral substances to improve and maintain the conditions of human living is a practical art, which must have had an almost accidental origin and have been developed by empirical experiments. We do not know, nor would it be useful to try to fancy, how men first learned that they could make use .of mineral substances to their benefit, but how- ever that knowledge was initially gained it was certainly trans mitted through instruction in the family. At first such activities must have been merely a .minor part of the making of a-living, but in time those who excelled found it better to devote them-

Jan 1, 1941

By AIME AIME

IN furtherance of the policy of acquainting those members of the Institute who live at a distance from New York with all the details of administration, the thirty delegates sent by the local sections and the technical divisions were invited to attend the meeting of the Directors on Tuesday evening as well as the Directors' dinner immediately preceding. Including the Directors and officers, new and old, the members of the Papers and Publications Committee and the section delegates, more than 70 sat down at the dinner table in the Engineers Club. The attendance at the business meeting that followed was not quite so large, doubtless for the reason that the ladies' fashion show, held in connection with the informal dance, offered attraction that eclipsed that of watching the wheels of Institute business go around.

Jan 1, 1930

By J. L. W. Birkinbine

INTRODUCTION. This paper is a discussion of a part of the mineral wealth of the States of Oaxaca and Puebla, Mexico. It does not refer to the precious metals, some miles of which, in these States, are said to have been worked before the advent of the Spanish conquistadores in the sixteenth century, as my purpose is to invite attention to the exploration of deposits of coal and iron-ores in the Mixteca region. The prominence given to coal is warranted by the great effect of the scarcity of fuel upon the industrial development of Mexico. Under the progressive administration of President Porfirio Diaz, the Republic has made wonderful advances in the past three decades; and this progress would have been greater but for the limitations imposed by expensive fuel. In the spring of 1906 I was detailed by the Birkinbine Engineering Offices, of Philadelphia, to accompany A. B. Adams, of New York, in a reconnoissance of reported deposits of iron-ores in the State of Oaxaca. The result of this expedition was the formation, in 1907, of the Oaxaca Iron & Coal Co., of which Mr. Adams became, and has remained, President and General Manager, and I have spent the past three years as Chief Engineer of this company in Mexico, principally in western Oaxaca, where field-headquarters were established. GEOGRAPHY AND POPULATION. Although the geographical anti topographical, features of the Republic of Mexico are well known, few realize that the majority. of its population is domiciled in the States which immediately surround the capital city of Mexico, including the Federal District, Mexico, Tlaxcala, Morelos, Puebla,

Sep 1, 1910

A Page Adam. H. F. and Ruggles! G. H., Results with Xanthate at Inspiration............. 337 Adnic proertiea of....................... 474 Africa; Gold Coast, manganese...........abs.474 191 mining districts......................... 254 Aid, H., biography........................ 154 Air compressors. In flotation................ 45 Air-gas lift: gae-oil ratios relation of......abs. 475 Gulf Coast. mechanical installations... .abs. 475 Seminole field........................abs. 476 Air-sand process. cleaning coal............abs. 89 Alabema, Birmingham district. drainage. . abs. 86 " Alclad." aluminum alloy................. 395 Alexander. W. Homer. biomaphy .......... 37 Allen. Andrews. Preparing Coal after Mechanical Loaders......:....T................. 181 Allison. F. H., Comparison of the Effect of Nickel and Cobalt in Steel.............aha. 151 Alloys: See Metals named. Aluminum: heat treatment...............abs. 444 machining...........................abs. 443 Norway............................... *465 Aluminum alloys: " Alclad "................ 395 application of........................abs. 443 deformation..........................abs. 150 Aluminum Bronze Manufacturers Institute. organized.............................. 188 "Alumnum. The Metal and Its Alloys." B.R. 42 Aluminum-iron-silicon alloys, equilibrium relations.............................aba. 444 Aluminum-manganese alloys, equilibrium relations in..........................aba. 87 Aluminum-silicon alloys. heat treatment. .abs. 398 American Association of Petroleum Geologists. annual meeting................... 81 American engineers. war memorial.......... 499 American Institute of Mining and Metallurgical Engineers: Committees: Douglas. James, medal...... 324 Geophysical Prospecting............. E. 204 Mining Medal........................ 324 Nominating: Election................. 235 report............................. 479 Constitution. votes for.................E. 494 Constitution and By-laws. draft of....... 374 Directors: Minutes of meeting.....110. 235. 323 publications.......................... 523 Directors adopt badge................... 324 Dues. increasing........................ 111 Dues are Due.......................... 236 Institute of Metals Division: annual lecture............................ 187 data sheets.......................... 187 Detroit meeting, (September). . .307. 353, 440 lecturer C. H. Desch................. 15 Local Section Committee. members..... 187 New York meeting (February)......... 115 Research Committee.................. 187 research problems..................... 6 Local Sections: Arizona............................. 365 Boston, meetings................40, 197. 486 Page American Institute of Mining and Metallurgical Engineers—Continued Chicago, meetings...40, 94, 156, 196,240,417 Chicago and St. Louis, joint meeting, Danville....................... 486, 527 Colorado, annual meeting.............. 285 Columbia, meetings 39, 93, 156, 196, 238, 286, 327, 365, 486, 527 El Paso, organized.................... 238 Fort Worth, organization meeting...... 485 Joplin-Miami Zinc, meeting.......... 286 Lehigh Valley: annual meeting......... 197 meetings...................... 239, 527 Los Angeles, meeting.................. 285 Mid-Continent, meeting............... 156 Minnesota, annual meeting............ 326 Montana, meeting.................... 40 New York, meetings................240, 284 North Pacific: meetings.... 39, 157, 197, 527 Fieldner, A. C, speaker............. 486 resolution.......................... 439 Oregon, officers....................... 196 Pittsburgh: meetings........... 156, 327, 526 mine transportation conference....... 485 St. Louis and Chicago, joint meeting, Danville........................... 486 San Francisco, meetings............... 92, 197, 239, 285, 439, 486, 527 Southern California, meetings 40, 157,197,283 Upper Peninsula, meeting.............. 486 Utah, meetings..........40, 93, 156, 239, 365 Washington, D. C, meetings 40, 93, 365, 528 Medals: Douglas, James................34, *84 Fritz, John, award, 1928.............. 480 Johnson, J. E., awarded T. L. Joseph... 83 Saunders, William Lawrence........... 34 meetings: Cleveland, April, 1927.......166, 207 Detroit, Sept., 1927............307, 353, 440 Fort Worth, Oct., 1927.........307, 353, 471 • future............................. E. 102 Knoxville, Nov., 1927.............. 480, 500 New York, Feb., 1927, announcements, programs, etc.................33, 50, *106 Salt Lake City, Aug...............306, *422 Members and jobs...................... 477 Membership, benefits.................8, E. 2 Officers and directors.................... *122 Open-hearth Conference................. 282 Petroleum Division: activities............ 186 annual meeting...................... . Fort Worth meeting............307. 353 471 luncheon............................ 91 New York Petroleum Club, officers..... 110 nominations........................23. 519 officers.............................. 117 President's trip. May.................281. 398 Publications: Directors discuss............ 523 Institute of Metals Division Volume... . 178 Petroleum Volume.................... 192 Technical Publications...........E. 294 323 Transactions. Vol. LXXIV. LXXV....00. 524 Review of the year.........:........... ...E. 104 Stockholders. report to..............E. 49

Jan 1, 1927

By Rudolph G. Wuerker

Charles T. Holland (Head, Dept. of Mining Engineeri*, Virginia Polytechnical Inst., Blacksburg, Va.) Mr. Wuerker has presented a very interesting discussion of the use of triaxial test methods for investigating the strength properties of rocks. Such methods, no doubt, eventually will develop considerable information of interest to those concerned with the design of mine layouts, particularly in the field of pillar design. From his discussion of my recent article, "Cause and Occurrence of Coal Mine Bumps" (Holland Mining Engineering 1958, p. 933-1002), it is evident that in one place at least I did not make my meaning clear to him and perhaps others. To clear the matter up I think it best to quote from the article, somewhat more fully than did Mr. Wuerker, as follows: "4) In actual operations — because rocksare not perfectly elastic, homogeneous, nor isotropic and because local yield does occur — the maximum stress as demonstrated by Phillips (Ref. 22, pp. 64, 65) and indicated by much experience in mining, does not occur at the walls of the opening but at a short distance inside the pillar. Furthermore, the maximum stress does not reach as great a value as theoretical considerations and laboratory experimental methods indicate.* Actual distance inside the pillar, measured from the wall, at which the maximum stress exists, has not been determined. Observations in many mines, however, indicate that this distance could have a mini-value of one to six or eight times the bed thickness and that it is probably affected by width and height of the opening, depth of cover, and relative values of the elasticity and plasticity of materials comprising the roof, floor, and coal seam. The actual value of the stress produced probably lies between the theoretical maximum and the average stress concentration that would be produced if the weight of the strata above the unsupported opening were evenly distributed over the pillars for a distance equal to the opening width." The footnote reference in the above quotation referred to the following: "*For example, the Pocahontas No. 4 coal bed in southern West Virginia is mined under cover up to 1800 ft thick. Development openings are driven 18 to 20 ft wide, and the bed is about 6 ft thick. According to the work of Panek, the tangential wall stress at mid-bed height under these conditions would reach values between 4000 and 5000 psi. Actual tests of 3-in. cubes of this coal show its compressive strength would be much less than this, perhaps as low as 400 psi. Yet the pillars usually show no evidence of failure in these headings. In this same bed at a depth of 800 ft, the author has seen an opening 225 ft between supports lying between two old groves approximately 1100 ft apart. According to the theoretical considerations, the stress in the pillar walls would have been about 18,000 psi, yet the pillar showed little or no evidence of weight. In view of these observations, it is clear that the wall stress does not attain the maximum values indicated by theory." (Underlining added to original wording.) By referring to Fig. 2A of my paper it will be noted that theoretically the maximum pillar stress would occur at the pillar wall, i.e., at the passageway surface of the pillar. Obviously this cannot be correct in the cases of stress ranging from 4000 to 18000 psi since the coal at the surface of the pillar is under no constraint and cannot have a strength much greater than 400 or 500 psi. Hence, my conclusion that the maximum stress does not occur at the wall but back in the pillar some distance from the wall. Since these stresses are pushed back in the pillar from the wall, it is also obvious that the loads transferred to the pillar from the opening will be spread over a greater area and hence Pillar stresses will not rise to the values postulated by theory and photoelastic experiment. Further since to visual inspection the coal along the pillar wall did not appear to be failed the conclusion was reached that the stress shift was caused by local elastic or plastic yield and by difference in the elastic modulus of the rocks composing the mine floor, mine roof, and coal bed. Later on under the heading "Strength of Mine Pillars" (pages 1000-1002) the effects of constraint is briefly described. Also a formula taking into account constraint is developed relating pillar strength to the uniaxial strength of coal and the L/T ratio of the pillar. Since my paper was written, reports of experiments conducted in South Africa (Denkhaus, et. al., 1959), in Sweden (Hast 19581, and in Canada (McInnes, et.al., 1959) reveal that the conclusion expressed relative to the existence of a low stress area existing around the edges of pillars and solid faces as described above is generally correct. But it seems possible that where the wall stress developed is less than the unconfined strength of the rock composing the pillar and where the roof, floor, and pillar

Jan 1, 1961

By Max W. Ball

Our ever-increasing use of minerals has been the outstanding fact in our American economic development. The rise in our standard of living in the past century is without equal in human history. Nowhere in time or place has the man who works lived so well, or the man who cannot work been so well cared for. We live in a new world, even the poorest of us, that our forebears of 1849 could not have dreamed. That new world has come mainly from our use of minerals. Our per capita use of nonmineral products has grown too, but by only a modest amount. Food consumption per person has grown about 15 per cent in the past fifty years; lumber use per person ,has fallen 56 per cent and that of wood for fuel 65 per cent. Of all the products of field and forest, our use, per capita, may have increased by one fifth during the present century. In contrast, our per capita use of minerals has multiplied several times. Each of us uses 2% times as much steel and 16% times as much petroleum as our fathers used in 1900. In less than half a century our per capita consumption of all minerals has probably risen by 200 to 250 'per cent. Man once built with wood; today he builds mainly with brick and stone and steel. Once he traveled by the power of hay and oats; today he travels by the power of coal and oil. Rubber made from minerals is already better for some uses than rubber tapped from trees; before long it will be better for most and perhaps all uses. Even our ladies' graceful legs are clad in mineral fiber, where once animal or vegetable fiber would have covered them. Our high standard of living is a product of the machine.. The machine is made of minerals. The machine is driven by minerals. The machine age is a mineral age.

Jan 1, 1949

By R. J. Corfield

MODERNIZATION of the entire electrical system and improvement of Rotation process efficiency is the twofold goal of the improvement program underway at the Arthur and Magna concentrators of the Utah Copper Div., Kennecott Copper Corp. Copper ore from the Bingham pit goes to these two concentrators where an interlocking program calls for complete electrical modernization and increased flotation process efficiency through additional capacity and flow scheme revisions. Flotation plants at the two mills are essentially duplicates, and while this article deals with the changes at the Arthur mill similiar improvements are being made at the Magna mill.

Jan 3, 1953

By John Goodell

CIVIL engineers seem to number in their ranks more advocates of licensing than are found among the practitioners of other branches of the pro-fession. Licensing was not originated by civil engineers but it was forced upon them in two ways. In the first place, the civil engineering profession has hangers-on like every other profession. The first legislative result of their imperfect accomplishments with which I am familiar occurred in the far West. It was found that early irrigation works were so badly planned in some cases that not only were water rights made very uncertain but considerable sums were invested in structures and ditches which proved inadequate and occasionally complete failures. Water was too valuable to be wasted in that way and money too hard to obtain. In those sections, therefore, laws were passed many years ago which made it obligatory for the design of irrigation works and other structures utilizing water to be made by engineers who had satisfied a board of examiners that they possessed the technical qualifications to plan such works properly. The basic thought on which such laws rest is the same as that on which laws governing the licensing of boiler operators rest, namely, the safety and welfare of the public. While boiler explosions still occur and irrigation works are built which are not wholly satis-factory, these laws have helped the, public, it is gener-ally agreed.

Jan 4, 1922

F. C. HENDERSCHOTT,* New York, N. Y.-I am going to take, as the text of what I shall discuss, a portion of the second paragraph of Mr. Stanford's paper. It read as follows: "The most vital need of the management is for more brains. The logical course for an engineer ;in charge of an industrial organization is, therefore, to direct whatever forces may be at his command toward the development, training and guiding of-all the brains in his organization. This is easier said than done, for it involves the carrying on toward two objectives, the maximum of productive work and the development of the individuals, who perform it;" and the last sentence of the paper; "Industry has no greater asset than an intelligent workman." The United States of America, at the outbreak of the present war, had the best equipment of any nation in the world. That statement holds not only for our -shops and our transportation systems and our stores and our farms and our homes, but it holds generally.. There was no other nation in. the world that had so good equipment as the United States. There was no other nation in the world that could be called progressive that has such poorly trained workers as the United States. Even Norway, Denmark, Sweden and New Zealand ranked ahead of us. Now that is the, problem, generally speaking, and there was recognition of that fact, a growing recognition which-took form, and one of its forms was what we call the corporation school. Now obviously a corporation has no particular educational functions, but as is said in the closing sentence of Mr. Stanford's paper, or as is implied, an industrial institution is, after all, the reflection of the aggregate of the efficiency of the individuals who compose that organization. There is no way of getting away from that. If your individuals, from your president down, are efficient, if your individual has developed his brains, if he is a trained man, you have got an efficient organization, and if you haven't that condition, you have got weaknesses and your organization is no stronger than those weaknesses. I maintain that the same thing holds for a nation; .a nation is as efficient as the collective efficiency of the individuals who compose the nation, and no more so.

Jan 4, 1918

By FRANK RIEBERS

IN DISCUSSING the selection of a geophysical method, much of what the writer will say is applicable to any of the various methods and to their use in prospecting, whether for oil or for other minerals. Specifically, the writer's subject is the problem, particularly pressing on the Pacific Coast, of checking the rising cost of the discovery of new fields by the proper employment of geophysical methods. Table I was prepared from statistics published by the California State Milling Bureau. The writer selected five of the largest a:ld most active companies operating in California, segregated the number of wild-

Jan 1, 1930

By Roger L. Brockenbrough

Steels available for mine-shaft applications are discussed, and the use of steel linings for round and rectangular shafts is reviewed. For rectangular shafts, frameworks constructed of square or rectangular steel tubes offer advantages. Also, corrugated steel sheeting provides a suitable alternative to timber lagging for spanning between the main shaft supports. For round shafts, self-supporting cylindrical steel liners, with circumferential stiffeners to prevent collapse, have been used to depths up to 6000 ft. Several large-diameter round shafts have been constructed with a concrete lining and an internal framework: of high-strength low-alloy steel tubes. It is concluded that in any new shaft construction steel designs should be investigated as economical alternatives to designs using other materials.

Jan 1, 1976

By H. B. FERNALD

THE interesting and carefully developed formula which Professor Bucky presents for answering the question of whether proposed new equipment will give a net return on investment equal to or greater than that on present equipment starts with an assumption that the management may make this relative return a determining factor in its decision whether or not the new equipment should be provided. I do not question that in some cases the management may take this position, but I would point out the error involved in so doing. The proper test is not a comparison of the return on new as compared with the return on old investment, but is rather a comparison of the return on a particular new investment as compared with the return which would be obtainable from some other new investment which now might be made. Then I would point out that I believe Professor Bucky is in error in using as a factor in his computations the item of unamortized cost of old investment. The financial advantage to be derived from a new investment does not depend on the extent to which we may in the past have written off the cost of old equipment, nor does it even depend upon what was the original cost of that old equipment. Even the salvage or resale value of the old equipment will only enter into the picture to the extent that the present salvage or resale value differs from the ultimate salvage or resale value otherwise to be obtained, after due allowance for the interest factor.

Jan 1, 1930

By Harold B. Fell

MANY oil producers are in disagreement with the idea held by some that an increase in the price of crude oil would be unlikely to stimulate much production and that we will be obliged to draw upon foreign sources of petroleum to supplement our domestic production as the years go by. Supporting our con trary opinion are numerous facts and figures. The most recent official estimate of the maximum efficient rate of production from the oil wells of the United States is 5,271,000 bbl per day. The Economics Advisory Committee of the Interstate Oil Compact Commission estimates, assuming certain supplies from imports and from natural gasoline and benzol, that crude oil require-

Jan 1, 1947

By H. M. Shepard

THE copper industry operated at high capacity throughout 1947, with no serious tie-ups in operation as was the case in 1946, when almost the entire industry was shut down by a four-month strike. Refined copper production in the United States averaged 94,250 tons for the first eleven months and deliveries to domestic consumers, including foreign copper for domestic consumption, averaged 114,000 tons per month. On April 29 the import duty of 4d per lb was suspended until March 31, 1949. Copper prices fluctuated considerably for a short time thereafter. Over the year the price of domestic electrolytic copper at refineries on the Atlantic seaboard advanced from 19.225¢ on Jan. 2 to 21.200d on Dec. 24.

Jan 1, 1948

By F. B. Plummer

PERHAPS the greatest progress made in the technical methods of oil production during the last year has been in handling gas from the new fields that yield light distillate fractions. At least sixteen recycling plants have been perfected and installed in South Texas fields alone during 1939 having a daily capacity of more than one billion -2 cubic feet of gas and capable of producing more than a million gallons of distillate daily. The process consists of running the gas under pres- sure through especially designed plants, separating out the condensate, then compressing the gas to 3000 lb. or more, depending on the subsurface pressure in the formation, and injecting gas back into the reservoir to be produced again later, along with more of the liquid hydrocarbons, and again recycled. Hence production in these distillate fields in sense has changed from that of producing a constantly diminishing and much-wasted product to a more or less continuous manufacturing process, in which practically all the gas is conserved-a real triumph in engineering practice.

Jan 1, 1940