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By F. W. Gordon

THE Whitwell firebrick hot-blast stove, for furnace use, may be seen in its three, main stages of development in the accompanying drawings. Fig. 1 is the stove of 1869, the, year in which it was thoroughly tested at the Consett furnaces, England; Fig. 2, the stove of 1876 and 1877, in which it was intended to reduce the-cost by increasing the height; Fig. 3, the stove of 1880. Many modifications were made from time to time, generally in the direction of improvement, but the drawings illustrate the main features of progress. In the stove of 1869 the plan was to introduce the gas at A, and pass it up and down. between each alternate wall, the air in the reverse direction, passing in at B. The friction in this stove was so great, owing to the. restricted area of the passages and the many reversals of the gaseous current, that it was deemed imprudent to build the stoves higher than 28' 6'". Another reason was that the great importance of cleaning was carefully kept in view, and it was very difficult to operate any hand scraper even to this depth. For these reasons the 22' X 28 1/2' stove held the field for several years. A slight change made from this was to the 18' X 40' stove, where the height was increased, but the number of walls diminished. In this stove the friction was somewhat reduced, but so was the heating surface, and although it cost a little less it was not any better. The next important change, seen in Fig. 2, was by increasing the height to 60 feet and keeping the full number of walls in the stove. The heating surface and mass were much increased in proportion to the cost, and the friction decreased by alternating over and under two or more walls, instead of one, as formerly. This stove gave admirable satisfaction, but; although the proper doors were provided, it was very difficult to clean, owing to the long distance the scrapers had to traverse. Stove No. 3 is a modification of No. 2. The great question was how to decrease the cost without impairing in any yaw the

Jan 1, 1881

By L. R. Testardi, J. R. Wiese

OBSERVATIONS have been made that the substitution of antimony for bismuth in Bi2Te3 leads to anomalies in some of the electrical and magnetic properties of the Bi2Te3-5S2TeS alloy system at the composition ratios 2 Bi2Te3 : 1 Sb2Tes and 1 Bi2Te3 : 2 Sb2Te3. Airapetiants and Efimova1 have reported the peaking of the nondegenerate hole mobilities, at these compositions for sintered materials and ascribe the peaking to the formation of ordered alloys. From a study of these materials produced by the Bridgeman

Jan 1, 1962

By R. S. Christie

Reservoir pressure is the pressure at which a fluid is held in a state of equilibrium in a porous stratum. This pressure may be a result of the genesis of oil or gas and its subsequent migration into and through an adjacent porous stratum, or of hydraulic head. Reservoir pressure is an indication of the potential energy contained in the reservoir, and when it is known the engineer is in a position to use it to advantage in recovering and lifting the oil. It is important to know the pressures in any type of reservoir, but this knowledge is probably of greater value in a limestone reservoir, as at Hobbs, where producing rates or conditions may be more sensitive to changes in pressures. The Hobbs field is in east central Lea County, New Mexico. The discovery well was completed by the Midwest Refining C I. in 1928, but intensive development did not begin until after the completion by the Humble Oil and Refining Co. of No. 1-A Bowers in February, 1930. There are 143 producing wells on approximately 5500 acres. The field has not been defined to the northwest, but a projection of structural contours indicates that the productive area ultimately may cover 7500 acres. The producing horizon is the White or Crystalline lime of Permian age. The top of the lime is found at an average depth of 4000 ft. and the wells penetrate it an average distance of 200 ft. The main pay zone is an oolitic stratum about 25 ft. below the top, and varies from 2 to 15 ft. in thickness. Other porous or cavernous strata are found lower in the lime but have little saturation. The initial production varied from 100 to 25,000 bbl. per day, depending perhaps to some extent on the structural location but chiefly on the porosity of the pay. The initial gas-oil ratio varied from 325 to 16,000 cu. ft. per barrel. In wells where the top of the White lime was found below 350 ft. below sea level (Fig. 1)) the gas-oil ratio was usually less than 1500 cu. ft. per barrel, while in wells higher than 350 ft. below sea level, the ratio was usually above 2000 cu. ft. per barrel. The water table has been determined at about 620 ft. below sea level, by three wells on the west side of the field. With few exceptions, the wells have been completed with 7-in. casing cemented

Jan 1, 1932

By Ian Wark

IT has been shown1 that in the absence of heavy metal salts, the nature of the alkali used to promote differential flotation-whether caustic soda, lime or sodium carbonate-is unimportant. The hydroxyl ion is the active depressant upon which differentiation depends, and the pH value determines whether a film of collector forms on any given mineral surface. Even when sodium cyanide is used in conjunction with alkalies, it is the pH value and not the nature of the alkali or its concentration that is important, for upon the pH value alone depends the fraction of the added sodium cyanide that is present as cyanide ion, which is the true depressant. When heavy metal salts become dissolved from partly oxidized ores, or are added intentionally as activators, conditions are different, and metallurgists have found that lime and sodium carbonate do not give identical results, even when added in amounts sufficient to produce the same pH value. In the few instances in which we had attempted to confirm this view, we had failed to do so, for, with nothing to guide us, we had inadvertently chosen solutions that gave contact curves of a "stand-ard type," which correspond to conditions of ready floatability. Now, however, we find that, in the presence of copper salts, and within a restricted range of reagent concentrations, the nature of the anions present is important, and that sodium carbonate does influence the results, apart from the usual effect due to its influence on pH value. With the recognition of this anion effect, and with the control of temperature already introduced,' it appears that the factors of major importance in connection with this set of reagents have been taken into consideration, and that the results obtained and the conclusions drawn from contact tests will be of more immediate value to the operator.

Jan 1, 1939

By PERCY E. BARBOUR

SECONDARY copper1 has &come more or less of a bugbear generally. What is its influence is often the subject of heated argument. The inedapable fact usually quoted is that since in 1929 primary production of copper in the United States was 1,026,348 tons and secondary production was 626,550 tons, there- fore, 0.6 lb. of secondary is produced for every pound of primary, and "How can you get around that?" The matter seems very plain, now that I have reached my conclusions, but they are the result of much laborious study and research. I shall show that' the production of secondary copper is not 0.6 per lb. of primary, in spite of statistical appearances; that the production of secondary is a function of primary production rather than of price; that secondary production has 'only a sub-. ordinate influence on the price of copper and then only in abnormal times; that there is not an accumulating reservoir of secondary from which the country is some- time to be drowned in copper, as is believed by some, or a reservoir from which we are going to draw much needed and more or less inexhaustible stores in the future, as is believed by others; and finally, that the United States always produces more copper than it uses and exports the surplus. These are all controversial points, and for that reason and to anticipate argument I have set forth my reasoning in considerable detail.

Jan 1, 1931

By B. G. Slay, J. P. Pritchard, J. T. Pierce

A short discission is given of the cryotron us a supercozductitzg- switch. The parameters of interest such as gaiz, critical gate current, critical control current, and critical surface current density ave described. The photomask-photoresist process makes possible the study of much narrower dimensioned cryotrons than previously possible using mask stencils. Data is given for the above parameters as a function of width, thickness, temperuture, and crossing ratio. Photographs of the various circuits used are shown. The techniques involved in making connection to the circuits and the precautions taken to avoid side effects in the measurements are discussed. In particular data is given for critical currents of sipercotzducting. lines down to 2X 104 in. A vise in critical surface current density is obserced jor the strallev lines in both lead and tin. A discussion of the ihact of these measurements in the design of future cryotron circuitry is given. In addition to the improvement in device density achieved by simple scale reduction. additonal gains in density may result through improved device form factor. THE cryotron is a superconducting current switch, invented by D. A. Buck.' Fig. 1 shows a typical crossed-film cryotron. Usually the gate is made of tin and the control is made of lead. The critical gate current, is the current that drives the gate resistive with zero current flowing in the control. The critical control current, I is defined as the current in the control necessary to switch the gate resistive with a small monitoring current in the gate. The gain of the device, G, is defined as Since for uniform thin films G should be proportional to the gate width divided by the control width, it is convenient to define the critical surface current density, Jcg, to be the critical gate current divided by the gate wldth. The data which follows will show that, for a given control width, I, is relatively constant. Thus, by measuring Jcg the change in gain as a function of gate width may be measured without measuring I,.

Jan 1, 1967

Jan 1, 1969

By W. P. Sykes

IN an earlier paper1 the composition-temperature limits of the gamma iron phase in the iron-tungsten system were reported as approximated Fig. I.-DIAGRAM OF ALPHA-GAMMA LOOP AS DETERMINED BY MICROSTRUCTURE AND THERMAL ANALYSIS. by thermal analyses. At that time no attempt was made to develop metallographic evidence of the coexistence of two phases in the iron-rich solid solution at temperatures between 900° C. and 1400° C.

Jan 1, 1931

By J. H. Henderson, H. J. Ledbetter, N. B. Gove, J. D. Griffith

INTRODUCTION The results of a series of laboratory flood tests using liquid Iso-butane to displace refined oils from test cores are pre- ented and interpreted on an empirical bask. The study Revealed the similarity of the miscible liquid displacement to that of the immiscible-fluid displacement mechanism. The efficiency of the iso-butane flood decreased markedly as the oil Viscosity increased. but the effect of injection rate on the effectiveness of the primary production stage was negligible over the range investigated. The presence of free-gas saturation prior. to iso-butane breakthrough increased the volume of iso- Butane required to recover a given percentage of the oil present. Injection of liquid i.e.-butane prior to water follicle sculpted in a marked improvement in oil recovery by the water flood. INTRODUCTION The production of petroleum is often enhanced by the injec-1i1)n of extraneous fluids into the reservoir. It has been suggeited that the injection or cycling of a wet gas or a liquefied petroleum gas would he instrumental in increasing the effic.ienr!; of oil recover! to a greater degree than the commonly injected fluids. dry pas and water. Although instances of injection of light liquid hydrocarbons are not unknown, a systrmatic recording of the result is unavailable and superfi- cially, the practice gives the impression of being economicaIIy unsound. For specific types of displacement, analytic: solutions have been advanced which aid in understanding the physical mechanisms involved. However, there is no generalized theoretical concept which permits adequate prediction of displacement efficiency from a knowledge of readily measured reservoir rock and fluid properties. The Buckley-Leverett approach to oil displacement by an immiscible phase is an admirable analysiy of that type of mechanism. Dykstra and Parsons have introduced a useful concept in their evaluation of the role of the mobility ratio and its merit in rationalizing displacement phenomena. Everett, Gooch and Calhoun3 in their report on the effect of viscosity ratio and miscibility have pointed out the lack of a comprehensive theoretical approach and the desirability of investigating the mechanism of miscible-miscible displacement. In lieu of a well-developed theory concerning miscible-111isci1)le displacement and in view of the scarcity of engineering information on actual LPG injection trials, the limited program of laboratory experimentation described below was undertaken. OBJECTIVES The original broad objectives of the program, to study the oil recovery process using LPG as the displacing phase, defined the direction and scope of the laboratory tests. The specific objective. of the experimentation were to evaluate

Jan 1, 1953

Illinois State Geological Survey, 305 Ceramics bldg, University of Illinois, Urbana, Ill M M Leighton, Chief A catalogue of the publications on the geology and mines of Illinois has recently been issued and will be sent upon request This index is a complete reference on the coal, coal fields and geology of the state and lists (with prices) the great number of Bulletins, Reports of Investigations, Press Bulletins, Monographs and the Educational Series of the state Geological Survey as well as publications of other agencies pertaining to the same subjects Of the several series offered by the state Geological Survey, probably the Bulletins are of most general interest A number of those available deal with the geology and geography or mineral

Jan 1, 1933

Jan 1, 1909

EDUCATION for the mineral industry was at first a single comprehensive curriculum, but it was early recognized that the main basis of mining is physics, while that of metallurgy is chemistry. The first school to offer curricula leading to degrees in mineral industry education in the United States (1853) had separate ones in mining and metallurgy. The Columbia School of Mines (the fist really successful one) had only a single curriculum when it opened in 1864, but within a few years had so reorganized its work that it offered curricula in mining, metallurgy, geology, chemistry, and civil engineering. Interest in the metallurgy or geology curricula was slight at fist, and for the next 30 years the great majority of Columbia students took the mining curriculum, probably partly because it contained nearly as much geology as the geology curriculum, practically all the metallurgy, and most of the chemistry, and partly because of the degree awarded for it. Other schools kept their mining curricula equally broad, and as late as 1900-1910 men were graduating as mining engineers who were practically as well prepared to make geology or metallurgy their life work as they were for mining. Gradually, however, the subject matter of mining geology and metallurgy became so enriched through research and development that separate curricula in them became worth while; their progressive development is the subject of another chapter. Mining curricula also began to be somewhat diversified, and schools in areas where coal mining was of outstanding importance began to offer options in coal mining, the earlier curricula having been chiefly aimed at metal mining. The petroleum industry began its meteoric rise about the same time as mineral instruction in this country, but little more of applied science attended its birth than had attended such ancient practical arts as copper and iron

Jan 1, 1941

The Black hills rise like a dark island above the far-flung prairie lands of the Dakotas; to their sombre pine-clad slopes they owe the name, Black mountains, by which they were known to the early explorers. Pahasapa, a Sioux word with the same meaning, was the name given to these hills by the Indians, who avoided them, believing them to be mysterious and dangerous. The aborigines entered the hills rarely, to pick berries, hunt the deer, or to cut lodge-poles, the central supports of their huts. The French explorer Pierre de la Veréndrye reached Dakotan soil in October 1738, coming thither from Montreal by way of Lake Superior and the Lake of the Woods.* Five years later his sons, François and Louis Joseph, reached the Black hills, as is recorded on a plate unearthed at Fort Pierre in 1913. The French-Canadian explorers and trappers of that time, however, appear to have been diverted southeastward to the more promising lands of the Mississippi valley, so that we find no mention of the Black hills in the chronicles of the period until Lewis and Clark, on their way to the Pacific coast, in 1805, met a French trader, named Jean Vallé, on the lower Cheyenne river, and from him they heard of the Black mountains in a casual manner. Next, Wilson P. Hunt, who, at the head of an expedition crossed the Rocky Mountains on his way to the Astor trading-post on the Columbia river, in 1811, had a glimpse of the dark hills to the north, but that was all. Then in 1823 Jedediah S. Smith, one of the earliest discoverers of gold in California, crossed the southern part of the Black hills on his way westward. Two trading-posts were established in

Jan 1, 1932

By James M. Barker

Jan 1, 1985

By T. Kilner, A. Plumtree

DURING an investigation of electro-deposited silver structures, samples were prepared for metallographic examination by cold mounting in plastic, grinding on successive grades of emery paper down to 3/0, and chemically polishing by swabbing using the chromic acid solution described by Gilpin and Worzala.1 Attempts to etch these samples using the standard solutions described for silver (e.g., 5 pet KCN-5 pet Na2S2O8, H2O2-NH4OH, and various potassium dichro-mate solutions) all failed to give good results due to staining of the samples and to rapid etching. The staining was caused by the chromic acid polishing solution being trapped in small fissures between the sample and the mounting plastic, and also in small fissures in the sample itself. To overcome these difficulties, an etchant was developed which prevented staining at the same time as it slowly etched the sample. This resulted in a very clean, crisply etched surface as shown in Figs. 1 and 2. This etch consisted of 10 ml of orthophosphoric acid, 10 ml of distilled water, and 2 drops of the polishing solution noted above,' which is made by mixing 100 ml of saturated CrO3 solution, 45 ml of 10 pet HC1 solution, and 800 ml of distilled water. The etching procedure involved taking the final polished sample, either immersing or swabbing in the etchant for a period of 1 to 2 min, rinsing as quickly as possible in distilled water, alcohol, and ethyl ether in that order, and then immediately drying. This etch is easily controlled due to its slow rate of etching, and produces samples with clean, sharp surfaces. Pits due to overetching produced varying contrast effects when viewed under polarized light, and are therefore obviously useful for revealing many structural details within the sample. Another effect of overetching was to produce a height varia-

Jan 1, 1968

By C. H. Mathewson, H. l. Burghoff

The study of the creep of metals under conditions of prolonged loading has received the attention of many investigators for several years and almost innumerable papers have been published on the various aspects of the subject. As it appeared that much could still be learned from a study of single crystals, the present work was carried out to study the effects of temperature and conditions of loading upon the properties and deformation in tension of single crystals of alpha brass containing about 70 per cent copper and go per cent zinc. In particular, it was hoped to obtain information from tests below and above the recrys-tallization temperature of the material, so that properties such as elastic limit, yield point or critical stress, and manner of deformation might be compared for tensile tests at an ordinary loading rate and for prolonged loading. Accordingly, short-time tensile tests and creep tests were made at room temperature, 300°, 500° and 700°F. The two latter temperatures are above the lowest possible recrystallization temperature of polycrys-talline 70-30 brass. Previous Work Clarke and White1 have made creep tests of some copper-zinc alloys, including 70-30 brass, and copper-zinc-tin alloys at temperatures both below and above the recrystallization temperature of the materials considered. Hanson and Wheeler2 have studied the flow and fracture of single crystals of aluminum for short-time and prolonged tensile loading over a range of temperature extending from room temperature to 400°F., their experiments being made without consideration of the orientations of the test specimens. Extensive creep and fracture tests on single crystals of lead at room temperature have been made by Betty3 and by Baker, Betty and Moore." Results of the last-named investigation were published while the present work was in progress. Miller5 examined the elastic limit of zinc single crystals at and above room temperature by means of creep tests, while Miller and Milligan6 reported the results of tests designed to show the influence of temperature on elastic limit of single crystals of aluminum, silver and zinc. The behavior of iron crystals under static tensile loading at room temperature was reported by Gensamer and Meh17 while the present investigation was in progress. Their specimens exhibited a well-defined yield point, below which no appreciable creep could be detected. The manner of yielding proved interesting, as the shape of the creep-time curve for the iron crystals differed from the common type of crcep curves. Elongation did not begin immediately, or at least was initially very slow. The rate of elongation then increased continuously and finally decreased to zero. This S-shaped type of elongation-time

Jan 1, 1941

By R. Gibson, F. S. Turneaure

The tin deposit of Monserrat, Bolivia, consists of one major vein 1600 m in length. The ore is unusual because of the notable quantity of teallite, even though cassiterite is the principal tin mineral. The deposit, formed at shallow depth under a wide range in temperature, may be classed as xenothermal. Polished sections reveal a complex history of replacement, with low-temperature minerals deposited before high-temperature minerals. THE Monserrat mine1'2 of the Compania Minera Monserrat is located 11 km east of Callipampa, a station on the Antofagasta and Bolivia Railway some 55 km south of Oruro. The mine lies in a group of low hills on the east slope of a broad valley of northerly trend. The valley is separated from the altiplano to the west by a prominent ridge that rises several hundred meters above the surrounding country (fig. 1). Callipampa is situated a short distance west of the ridge, near the east margin of the altiplano. The elevation at Callipampa is 3700 m and at the mine 4100 m. Monserrat is near the northeast limit of what may be called the Poopo-Pazna district, an area of northwesterly trend about 25 km in length and 15 km in width. The district includes the tin-silver prospects of Poopo to the north, the zinc-tin deposits of Salvador to the southwest, and the tin-tourmaline veins of Avicaya to the south. Along the prominent ridge already mentioned, which forms the western limit of the district, there are several tin and antimony prospects including the Trinacria mine, which is famous for its fine specimens of cylindrite. Although the principal ore mineral is cassiterite, the tin deposit of Monserrat contains an unusual amount of teallite. Cassiterite occurs in part as a finely granular mixture with sulphides of iron and zinc and in part as needle tin of late hypogene age. The regional structure is dominated by broad folds typical of the Andes of Central Bolivia and similar to those of the Llallagua district. The area adjacent to the Monserrat mine is underlain by thin-bedded shale somewhat variable in color but predominantly dark grey to black. The beds strike northwest and dip at low angles southwest, forming part of the northeast limb of a major syncline. A resistant sandstone formation, which underlies the black shale, crops out along a ridge east of the mine and also accounts for the high ridge to the west that was previously mentioned. No igneous rock of any kind is found at Monserrat. The nearest intrusive bodies known are the irregular dikes and masses of quartz porphyry at Avicaya about 10 km to the south. Mine Workings The Monserrat property includes one main vein, which can be followed on the surface for 1600 m, and two or three branch veins of distinctly minor importance. The principal haulage tunnel, referred to as the San Carlos adit or level III, extends northeasterly for 1700 m, following the main vein throughout most of this distance. Above the adit, there are

Jan 1, 1951

By H. l. Burghoff, C. H. Mathewson

The study of the creep of metals under conditions of prolonged loading has received the attention of many investigators for several years and almost innumerable papers have been published on the various aspects of the subject. As it appeared that much could still be learned from a study of single crystals, the present work was carried out to study the effects of temperature and conditions of loading upon the properties and deformation in tension of single crystals of alpha brass containing about 70 per cent copper and go per cent zinc. In particular, it was hoped to obtain information from tests below and above the recrys-tallization temperature of the material, so that properties such as elastic limit, yield point or critical stress, and manner of deformation might be compared for tensile tests at an ordinary loading rate and for prolonged loading. Accordingly, short-time tensile tests and creep tests were made at room temperature, 300°, 500° and 700°F. The two latter temperatures are above the lowest possible recrystallization temperature of polycrys-talline 70-30 brass. Previous Work Clarke and White1 have made creep tests of some copper-zinc alloys, including 70-30 brass, and copper-zinc-tin alloys at temperatures both below and above the recrystallization temperature of the materials considered. Hanson and Wheeler2 have studied the flow and fracture of single crystals of aluminum for short-time and prolonged tensile loading over a range of temperature extending from room temperature to 400°F., their experiments being made without consideration of the orientations of the test specimens. Extensive creep and fracture tests on single crystals of lead at room temperature have been made by Betty3 and by Baker, Betty and Moore." Results of the last-named investigation were published while the present work was in progress. Miller5 examined the elastic limit of zinc single crystals at and above room temperature by means of creep tests, while Miller and Milligan6 reported the results of tests designed to show the influence of temperature on elastic limit of single crystals of aluminum, silver and zinc. The behavior of iron crystals under static tensile loading at room temperature was reported by Gensamer and Meh17 while the present investigation was in progress. Their specimens exhibited a well-defined yield point, below which no appreciable creep could be detected. The manner of yielding proved interesting, as the shape of the creep-time curve for the iron crystals differed from the common type of crcep curves. Elongation did not begin immediately, or at least was initially very slow. The rate of elongation then increased continuously and finally decreased to zero. This S-shaped type of elongation-time

Jan 1, 1941

By F. S. Turneaure, R. Gibson

The tin deposit of Monserrat, Bolivia, consists of one major vein 1600 m in length. The ore is unusual because of the notable quantity of teallite, even though cassiterite is the principal tin mineral. The deposit, formed at shallow depth under a wide range in temperature, may be classed as xenothermal. Polished sections reveal a complex history of replacement, with low-temperature minerals deposited before high-temperature minerals. THE Monserrat mine1'2 of the Compania Minera Monserrat is located 11 km east of Callipampa, a station on the Antofagasta and Bolivia Railway some 55 km south of Oruro. The mine lies in a group of low hills on the east slope of a broad valley of northerly trend. The valley is separated from the altiplano to the west by a prominent ridge that rises several hundred meters above the surrounding country (fig. 1). Callipampa is situated a short distance west of the ridge, near the east margin of the altiplano. The elevation at Callipampa is 3700 m and at the mine 4100 m. Monserrat is near the northeast limit of what may be called the Poopo-Pazna district, an area of northwesterly trend about 25 km in length and 15 km in width. The district includes the tin-silver prospects of Poopo to the north, the zinc-tin deposits of Salvador to the southwest, and the tin-tourmaline veins of Avicaya to the south. Along the prominent ridge already mentioned, which forms the western limit of the district, there are several tin and antimony prospects including the Trinacria mine, which is famous for its fine specimens of cylindrite. Although the principal ore mineral is cassiterite, the tin deposit of Monserrat contains an unusual amount of teallite. Cassiterite occurs in part as a finely granular mixture with sulphides of iron and zinc and in part as needle tin of late hypogene age. The regional structure is dominated by broad folds typical of the Andes of Central Bolivia and similar to those of the Llallagua district. The area adjacent to the Monserrat mine is underlain by thin-bedded shale somewhat variable in color but predominantly dark grey to black. The beds strike northwest and dip at low angles southwest, forming part of the northeast limb of a major syncline. A resistant sandstone formation, which underlies the black shale, crops out along a ridge east of the mine and also accounts for the high ridge to the west that was previously mentioned. No igneous rock of any kind is found at Monserrat. The nearest intrusive bodies known are the irregular dikes and masses of quartz porphyry at Avicaya about 10 km to the south. Mine Workings The Monserrat property includes one main vein, which can be followed on the surface for 1600 m, and two or three branch veins of distinctly minor importance. The principal haulage tunnel, referred to as the San Carlos adit or level III, extends northeasterly for 1700 m, following the main vein throughout most of this distance. Above the adit, there are

Jan 1, 1951

By Norman D. Fitz Gerald

The lack of a continuous operating balance in petroleum refining, which is analyzed in this paper, is by no means a feature solely of this division of the oil industry. Serious disequilibria of a capital as well as an operating nature exist both in the producing and marketing departments, while problems in the former and to some degree the latter are complicated by political involvements. Attention has previously been directed to the unstabilizing influence of present proration formulas in stimulating unnecessary drilling.' While equilibrium in petroleum refining operations has been fairly well maintained in the past decade, examination of departures may prove fruitful. Economic analysis is the application of time and motion study to the functioning of management, rather than labor. Properly applied it may reveal changes in policies that would increase the utility of the properties and facilities of the industry for stockholders, employees and the public, while contributing a stabilizing influence to the general economy. The study of economic equilibrium is essentially one of measurement and interpretation, requiring adequate data and the development of a technique of analysis that employs statistical and mathematical methods as a supplement to the broad descriptive phase of economics. Economic equilibrium in petroleum refining is a dual concept. It embraces both the over-all balance between total storage and total demand for major products and the internal balance between the demands and inventories of the various products. The latter is the more complex of the two for it is concerned with proportionating the supplies of the several products stemming from the joint source to the demands for the individual products which are subject to wide variations. All the products are essentially nondurable goods, and they are used both by producers and consumers but in varying proportions. Motor fuel is very largely a consumer's good, while residual fuel oil is almost entirely a producer's good, the other products falling between these extremes. The peculiar-

Jan 1, 1939