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By J. H. Mallery, J. H. Keeler

THE crystal structure of Zral, the compound richest in zirconium (91.03 pct Zr by weight) in the system Zr-Al, has been found to be ordered face-centered-cubic. This compound is of particular interest, since it is encountered as the precipitated phase in potentially useful zirconium-rich alloys. It forms peritectoidally from body-centered-cubic zirconium and Zr,Al at about 975°C. The Zr-A1 constitution diagram has been reported by McPherson and Hansen.' For the primary determination a 100 g ingot was prepared by arc-melting in a water-cooled copper crucible under purified argon. The raw materials were crystal-bar zirconium (a purity of better than 99.7 pct) and spectroscopically pure aluminum. The ingot was double melted, examined metallographi-cally, and found to be quite uniform as shown in Fig. 1. The hardness of the as-cast button was VHN 390 to 445. A 20 mil diam specimen was prepared from annealed (900°C) filings of Zr,Al. The specimen was mounted in a 5 cm radius powder camera and an 8 hr exposure was taken using copper radiation with a nickel filter. The structure of the compound Zral was found to be ordered face-centered-cubic of the Cuau type, with an a,, value of 4.37220.003A. Its calculated density is 5.976e0.013 g per cu cm. The relative intensities for the lines were calculated using the formula 1+cos2 20 I oc----------------- • p • /F7 sin2 0 cos 0 1 + COS' 20 where----------------is the Lorentz polarization fac- sin2 0 cos 0 tor, p is the multiplicity factor, and F is the structure factor. The X-ray data are given in Table I. The compound has exhibited plasticity when present as particles in a matrix of a zirconium. During hot working at about 900°C, the compound has been found to deform plastically to the extent that some of the particles exhibit a length-to-width ratio greater than 4:1 as shown in Fig. 2. In answer to the discussion of ref. 1, McPherson and Hansen pointed out that the compound may be cold rolled and reduced as much as 33 pct. Zr,Al has also been found2 under certain conditions to precipitate in lamellar form at grain boundaries of the a phase of hexagonal-close-packed zirconium. Acknowledgment This work was carried out under Contract W-31-109-Eng 52 for the United States Atomic Energy Commission.

Jan 1, 1956

United Engineering Society WILLIAM L SAUNDERS,, President GEORGE H PEGRAM, 1st Vie-president ALFRED D FLINN, Secretary J V W REYNDERS, 2d Vice-president JACOB S LANGTHORN, Treasurer HENRY A LARDNER Assistant treasurer Finance Committee House Committee GEORGE H PEGRAM, Chairman ALFRED D FLINN, Chairman J 'VIPOND DAVIES FREDERICK F SHARPLESS BANCROFT GHERARDI . JOHN H DUNLAP WILLIAM L SAUNDERS CALVIN W RICE W F M GOSS, ex-officio F L HUTCHINSON

Jan 1, 1923

By AIME AIME

THE Petroleum Division opened its proceedings on Wednesday morning, with two simultaneous sessions on engineering and economics. The first paper at the engineering session, over which A. W. Ambrose presided, was "Underground Surveys of Oil Wells," by Alexander Anderson of Los Angeles, Calif., was presented by John Suman of the Humble Oil & Refining Co., Houston, Texas. Following this, the paper of E.'H. Griswold of the Mailand Oil Co., Houston, Texas, was presented by C. V. Millikan of the Amerada Petroleum Corp., Tulsa, Oklahoma. Following the presentation of these two interesting papers a general discussion followed on the subject of "Crooked Holes." The discussion was entered into by F. H. Lahee, Sun Oil Co., Dallas, Texas;'Messrs. Bigelow of Tulsa, H. W. Hixon of New York City, Van Court Warren of Los Anyeles, Calif; H. L. Wheeler of St. Louis, Mo.; R. R. Brandenthaler, United States Bureau of Mines, Bartlesville, Okla.; H. H. Riggs, Indiana Territory Illuminating Oil Co., Bartlesville, Okla.; C. V. Millikan and John R. Suman

Jan 1, 1929

By S. A. Lever, R. Hultgren

(E. R. Jette and J. R. Long presiding) M. B. BEVER*—The method re- ported in this interesting paper promises to he of fairly wide applicability. It may be expected that the solidus and liquidus lines in other low-melting alloy systems can also be determined by resistance measurements. As these alloys are especi- ally slow to reach equilibrium, a static method will improve the accuracy with which these parts of their phase diagrams can be determined. It should be noted that the sensitivity of the method for the determination of

Jan 1, 1950

COUNCIL.* PRESIDENT OF THE COUNCIL. JAMES F. KEMP NEW YORK, N. Y. (Term expires February, 1913.) VICE-PRESIDENTS OF THE COUNCIL. S. B. CHRISTY BERKELEY, CAL. W. A. LATHROP PHILADELPHIA, PA. GARDNER F. WILLIAMS WASHINGTON, D. C. (Term expires February, 1913.) KARL EILERS NEW YORK, N. Y. WALDEMAR LINDGREN WASHINGTON, D. C. BENJAMIN B. THAYER NEW YORK, N. Y. (Term expires February, 1914.)

Jan 1, 1917

By U. N. Bhrany, N. Arbiter

F. C. Bond (Consulting Engineer, Processing Machin-Dept., AllisChalmers Manufacturing Co., Milwaukee) This is a very comprehensive paper. It deals with 1) size distribution functions, 2) energy-particle size relationships, and 3) criteria for grinding efficiency. The method of analysis used consists of tracing the increase and decrease of successive Tyler scale screen fractions as grinding progresses. The treatment is based upon the assumption that the work done in grinding is concentrated entirely upon the coarse size fractions in the mill. It is postulated that when a feed consisting entirely of particles of one size fraction is batch ground that finer fractions increase at a constant rate as grinding progresses, until finally each in turn begins to be ground and to decrease in amount. It is shown that under these conditions the empirical Gates-Gaudin-Schuhmann log-log size distribution plot can be logically explained. It is difficult to imagine any condition of ball mill operation, or any probability analysis, which would result in no grinding contacts on the finer particles present. However, the authors' postulate must be accepted if their conclusions are to be sustained. They conclude that the equation expressing the for mation rate of each size fraction can be resolved into the G.-G.-S. size distribution equation, and that the curvilinear portion of the log-logsize distribution line represents the only particle sizes which are being ground as well as produced. The author's statement that the G.-G.-S. Eq. 4 applies only to the finer portion of the size distribution while the Rosin-Rammler Eq. 6 applies over the whole size distribution range certainly supports the view that an exponential equation of the Rosin-Rammler type corresponds more closely to actual size distribution than does the power law G.-G.-S. equation. However, the G.-G.-S. equation is used to derive Eq. 8 and Eq. 9, which state that the energy required to grind a ton through a particular mesh varies inversely as the particle size to the exponent -a , whic h is the slope of the extended G.-G.-S straight line. This is stated to apply to both batch and continuous grinding. The G.-G.-S. slope exponent thus becomes very important in all crushing and grinding analyses by this method. The authors include some data which can be used to test their conclusions, as described below: We will consider grinding a feed composed of 14 mesh (1190u) to -200 mesh (74u). The average of 17 Allis-Chalmers grindability tests on quartz gives a work index (Wi) of 12.77. The -200 mesh product should have 80 pct passing 41.6u or P = 41.6. The equivalent 80 pct passing size of the 14 mesh feed particles is considered to be the particle diameter, as is true for spherical particles. Thus F is 1190u. In the work index equation 10 wi 10 wi 127.7 127.7 P f 41.6 1190 = 16.1 kw-hrperton. In Table I the ball mill exponent for quartz is 1.0 and from Eqs. 9 and 10: w=kw-hr/ton =Constan/(do/di) = 16.1 ton so that (1190) Constant/ Constant and the Constant equals 259. The tons per horsepower-hour value is 0.0464, in agreement with Table IV. The exponents for other minerals are listed in Tabl e 11. In Table IIA, the kilowatt hours per ton required to grind these minerals between the same sizes as the quartz, both by the authors' method and the work index equation, are listed. According to the authors kw-hrperton = 259/(16.1)".

Jan 1, 1961

By C. C. Templeton, S. S. Rushing

Methods previously developed for the study of air-liquid displacements in microscopic capillaries (inner diameters of 3 to 40 microns) have been used to investigate oil-water displacements in capillaries initially filled with water. Displacement calculations assuming perfect displacement and no capillary pressure hysteresis yielded oil effective viscosities smaller than the macroscopic viscosities. For a given liquid pair, the oil effective viscosity decreased both with decreasing capillary size and with increasing oil-water viscosity ratio. This behavior can be explained by the existence of an annular water film (20 A to 260 A thick) on the capillary wall. When the capillary was first filled with oil, the ratio of the oil effective viscosity to the normal oil vircosity was highest for the first water displacement and decreased with subsequent displacements. Sometimes the oil effective viscosity ratio during the initial water displacement was greater than unity. INTRODUCTION In a previous paper1 a technique was described for studying air-liquid and liquid-liquid displacements in very small capillaries of uniform diameter, in the hope that such microscopic data would further the understanding of the nature of multiphase fluid flow through porous media. That paper contained comprehensive data for air-liquid displacements in Pyrex capillaries, with a few data for oil-water displacements in capillaries initially filled with water. The purpose of this paper is to present more complete results for oil-water displacements in capillaries initially filled with water, and to describe for the first time such observations in capillaries initially filled with oil. In this way the effect of the wetting history of the system upon the displacement process may be studied. METHODS The basic techniques employed were described in the previous paper.1 The measuring procedure and the working equations will be briefly summarized here and a few modilications will be pointed out. For the present study, temperature control within 0.l °C was obtained by placing the microscope and its immediate accessories in a thermostated air bath made of a steel frame covered with plexiglas. The water and oils used in this work were the same as in the previous paper,1 with the addition of "Medium Mineral Oil, U.S.P. supplied by the Harshaw Scientific Co. When the first liquid was introduced into the horizontal capillary, the air-liquid static capillary pressure Poc was measured along the observable length of the capillary. From the relation Poc = 4y cos 0/d, the capillary diameter d could be calculated from Poc if the "microscopic" air-liquid boundary tension, To = y cos On, was taken as equal to its known "macroscopic" value. This calculation involves assuming that cos 6 = 1 and that capillary size or the resulting high interfa-cial curvature has no effect on surface tension, or y cos 6, as was verified by our work, and also by that of Cohan and Meyers on air-liquid-solid systems. For several capillaries these calculated diameter values were compared with values measured visually with a filar micrometer eyepiece. For a given capillary the average values for the two methods agreed within 1 or 2 per cent, but the visual values were less reproducible than the calculated values. Further the calculated values were much less subject to personal bias and took into account any slight ellipticity that might be present. Hence diameters calculated from air-liquid Poc data were used throughout this paper. The second liquid was introduced in such a way that a single spherical interface separated the two liquids. Displacements were always made with a constant pressure, Pt, between the ends of the capillary. The times (t) at which the interface passed certain

Jan 1, 1957

By R. Stefanko, Y. J. Wang, H. R. Hardy, R. Y. Kim

Since 1964, the Dept. of Mining at The Pennsylvania State University has been carrying out extensive studies associated with the phenomena of microseismic activity and inelastic behavior in geologic materials. Briefly, the program to date has involved the following stages 1) Study of the microseismic noise and energy rates for selected geologic materials under incremental, uniaxial tension.1,2 2) Investigation of the frequency spectra of microseismic activity of selected geologic materials under incremental, uniaxial tension.3,4 3) Investigation of the time-dependent inelastic deformation of geologic materials and the analysis of such deformation in terms of mechanical models.5, 6 4) Simultaneous study of microseismic activity and time-dependent inelastic deformation in geologic materials under incremental, uniaxial compression.7,8 Details of the research involved in stage 4 of the program constitute the subject of this chapter. It should be noted that the majority of the experimental data quoted in this chapter forms part of a thesis to be presented by one of the authors (Kim) in partial fulfillment of the requirements for the Ph.D. degree in mining engineering at The Pennsylvania State University. During the last two or three years, a number of important papers have been published which deal primarily with the fundamental structure and mechanical behavior of geologic materials. Recent papers 9,10 have provided research workers in the rock mechanics field with a meaningful overall picture of rock as a structural material. The concept that many

Jan 1, 1970

Elected Died 1895 *ABBOTT, AI ATTHUR 1908 1882 *ABBOTT, ARTHUR V 1906 1905 * ABE, MASAYOSHI 1909 1903 * ADAMS, CHARLES C. 1905 1906 * ADAMS, JOHN C. 1913 1905 * ADAMS, WILLAMS 1909 1903 * ADAMS, W. EDWARDS 1910 1884 *ADDY, MATTHEW 1896 1906 * AFFLECK, WILLIAM A. 1911 1889 * AKERS, WILLIAMS A. 1906 1905 * ALABASTER, RUPPERT C. 1911 1899 * ALBERGER, LOUIS R. 1911 1894 *ALLEN R B 1896 1905 * ALLEN, R. SCOTT 1906 1874 * AMIOT, H. 1892 1886 *AMSLER, CARL 1894 1898 ** ANDRSON, JOHN W 1905 1895 *ÅNGSTROM, CARL 1901 1887 * ARCHBALD, JAMES 1910 1900 * ARLETT, GEORGE H 1906 1895 *ARMSTRONG, JOHN F 1898 1882 *ARNOLDS, HUGO 1886 1875 *ASHBURNER, CHARLES A 1889 1872 *ASIIBURNER, WILLIAM 1887 1883 *ATKINS, C M , JR 1885

Jan 1, 1917

By J. W. Wolfe

The Benedict-Webb-Rmbin equation of state was used in digital computer programs to make rapid determinations of natural gas equilibrium phase compositions. Mixture components were the nine hydrocarbons, methane through heptane. Comparative tests were made with data from field separators, plant exchangers and literature sources. For most tests made, the B-W-R equations predrcted component K-vallles, mixture enthalpies and phase aensities within tile accuracy of available correlations for rune-component mixtures: significant deviations were noted when mixtures contained components heavier than heptune. INTRODUCTION Rapid, accurate methods for calculating the properties of hydrocarbon mixtures are needed for predicting the behavior of natural gas processes. For example, because of the common use of two-phase separation methods in gas proccssing, calculations must be made for the density and composition of equilibrium vapor and liquid phases. In addition, predictions must often be made for the temperature and pressure changes associated with the flow of single- and two-phase natural gas fluids through heat exchangers, chokes and turbines. The complex nature of non-ideal mixtures makes rigorous calculations for these natural gas properties difficult and time-consuming. Natural gas properties have conventionally been determined with generalized data correlations. These correlations, such as the K-values presented in the NGAA Equilibrium Ratio Data Book, are usually based on some average property of the mixture and have proven to give satisfactory estimates for the properties of most oil and gas systems. Digital computers, however, have not only increased the utility of these correlations, but also have made practical the use of equations of state for calculating the properties of natural gases. Potentially, if basic pure component data are available, all the desired thermodynamic properties of mixtures can be derived from a single equation of state describing the mixture. Currently. the best equation of state for describing the behavior of pure, light hydrocarbons over single-and two-phase regions, both below and above critical pressure, is that of Benedict. Webb and Rubin.' The equation contains eight constants which are determined by empirically fitting the equation to pure-component PVT data. Benedict and his co-workers presented the clevelopment of their equation as early as 1940.2 The B-W-R equation is a modification of the Beattie-Bridgeman equation of state and gives better PVT predictions than the Beattie equation at densities above the critical density. Benedict et al. made the equation applicable to mixtures by relating the mixture constants to composition and the constants for pure compounds. These authors, in a serics of articles in 1951,' showed the accuracy of the B-W-R equation when applied to light hydrocarbons and their simple mixtures, and demonstrated the equation's utility for making vapor-liquid equilibria calculations. Since its inception, the B-W-R equation has been the subject of many papers. Numerous additions and modifications have been proposed,'-',"'-':' the purpose of most being to improve the equation's ability to predict PVT properties of specific mixture systems. In 1959, Opfell, Pings and Sage summarized much of the work on the B-W-R equation in their book on equations of state." Since natural gases are primarily mixtures of light hydrocarbons, the B-W-R equation is a natural choice for an equation of state to compute both phase equilibria and thermodynamic properties of natural gases. Consequent-

Jan 1, 1967

William H. Blauvelt, Syracuse, N. Y.:—Is the coal itself from which the briquettes are made of good quality for steam-ing-purposes? Mr. Parker :—It is an anthracite coal mined near Bank-head arid used on the Canadian Pacific railroad. It contains about 83 of carbon, 8 of ash, and 8 per cent. of volatile material. With regard to briquetting of a mixture of fine coal and coke-dust, I understand that a plant has been installed near Detroit in which coke is mixed with anthracite; also the plant of the United Gas Improvement Co. near Philadelphia is briquetting a mixture of anthracite coal, the resultant briquettes being used in the gas-retorts. Mr. Blauvelt:—The purpose of the Detroit briquette-plant of the Solvay Process Co. has been partly to use up the coke-breeze from the by-product ovens and partly to utilize the pitch. There is no necessity for mixing anthracite with the coke-breeze, but the supply of breeze is limited, and anthracite

Jan 1, 1909

By Mark Sheppard

DURING the winter of 1937, the writer visited a West Virginia stone quarry at which the overburden is stripped hydraulically. The quarry is in a bed of limestone, about 200 ft. thick, which outcrops on a hillside above a small river; the quarry face is 175 ft. high. The top of the stone is cut in all directions by erosion channels, which are filled with a tough, red clay. Some of the larger channels are 30 ft. deep and 8 ft. wide. The thickness of the clay overburden ranges from a few inches to 10 ft., the average being estimated as less than 3 feet. The topography of the district is rugged, and the hillside above the quarry face is not suited to the use of the usual mechanical methods of moving dirt. Until hydraulicking was started 10 years ago, the over- burden was dug by hand labor, dumped to the quarry floor and transported to the dump in quarry cars. Cleaning deep channels was a slow and expensive process. When hydraulicking was started, the top of the quarry face was over 200 ft. above the level of the river. The pipe line was carried in a semi- circle around the top of the quarry about 200 ft. from the face and about 50 ft. above it. As there is no adequate supply of water above the quarry, the water must be pumped from the river. As quarrying progressed the pipe line was moved until the discharge points are now over 300 ft. above the river. Water is pumped from the river by a four-stage centrifugal pump having a 5-in. intake and a 4-in. discharge. It is direct-connected to a 200-hp., 2300-volt, 1760-r.p.m. induction motor. At 1760 r.p.m. the rated capacity of the pump is 750 gal. per minute under a head of 600 ft. The pump is installed in a house of frame construction on the river bank, about 10 ft. above normal water level, which also houses the pump for the mill-water supply. Above the pumps are hoisting bays into which the motors are raised whenever the river reaches flood stage. An 8-in. suction line, equipped with a strainer and a foot valve, takes the water from a concrete sump at the edge of the river. The pipe line from the pump consists of 1750 ft. of 8-in. spiral steel flanged pipe and 800 ft. of 4-in. spiral steel flanged pipe. The connection from the pump

Jan 1, 1938

By Brigitta Hassler

INTRODUCTION In the early 1960's research was begun in Sweden to improve the agglomeration of our domestic iron ore concentrates (5). Different agglomeration methods that were used in the building material industry were studied under the economic support from the Swedish Technical Council, the Swedish Board of Technical Development and by the Swedish industry. The research work was performed at the Division of Mineral Processing at the Royal Institute of Technology in Stockholm. All known agglomeration methods were reviewed and the methods were developed to produce superior quality agglomerates (6). The term cold bonding (in contrast to sintering) was introduced to describe the induration operation in these processes and this has been accepted internationally. Even though we used it mostly for steam autoclaving methods, it has come to describe a class of processes that use binding methods by pore filling. Schumacher in Germany discovered around 1907 that a strong material can be produced by mixing slaked lime with fine ground quartz and subjecting to a steam atmosphere under pressure at about 185ºC. This started development of lime-sandstone building materials and later on, in Sweden, the light-weight concrete. Schumacher also used the same reaction for briquetting iron ore concentrates by adding silica and lime, and autoclaving. The product seems to have been accepted for blast furnace burden and the process was used on an industrial scale until the 1920's. The sintering method has a small melting phase as diffusion medium and in the steam-autoclaving method a small quantity of water condensate at about 200°C serves the same purpose. Thus the induration process by the hydrothermal hardening methods is similar to that of sintering or heat treatment.

Jan 1, 1977

By H. B. Probst

Mechanical twins were produced in zone-refined tungsten single crystals by explosive working at room temperature. These twins are parallel to (112) planes and have irregular boundaries rather than the classical plane twin boundaries. These boundaries aye grooved surfaces in which the grooves themselves are parallel to a <111> direction and the sides of the grooves appear to be par-allel to (110) planes. TWINS were produced in tungsten single crystals by explosive working at room temperature. These twins differ in character from any previously reported for tungsten; however, they are similar to those found in molybdenum after compression at -196°C.1 Deformation twins "resembling Neumann bands in ingot iron" have been observed in tungsten by Bech-told and Shewmon.2 This observation was made with sintered polycrystalline tungsten pulled in tension to fracture at 100°C and using a strain rate of 2.8 x 10-4 sec-1. More recently Schadler3 found deformation twins in zone-refined tungsten single crystals pulled in tension at -196"&apos; and -253°C. These tests were conducted using a strain rate of 3.3 x l0-4 sec-1, and the twin bands were found to be parallel to a (112) plane. Deformation twins in tungsten&apos;s sister metal, molybdenum, were observed by Cahn.4 These twins were produced by compressing small (0.7 mm) vapor-deproducedposited molybdenum single crystals at -183°C. The compression was performed &apos;by impact." By the use of precession X-ray techniques, Cahn was able to identify the twin plane as {112} and the shear direction as <1ll>. Mueller and Parker1 produced deformation twins in polycrystalline electron-beam-melted molybdenum by compression at -196°C. Their "loading rate" was 5000 psi per min which, judging from their stress-strain curve, corresponds to a strain rate of approximately 0.3 x 10-4 sec-1. These twin bands were found to be parallel to (1 12) planes; however, they differed in appearance from previously observed twins. In place of straight and parallel twin boundaries they were found to be irregular, jagged, and sawtoothed. The sides of the saw teeth were identified as (110) planes and irrational planes of a (111) zone. The twins observed in the present work in tungsten single crystals are similar in appearance to those of Mueller and Parker in polycrystalline molybdenum. The starting material used in this investigation was 3/16-in. diam commercial tungsten rod produced by powder-metallurgy techniques. This material was converted to a single crystal by the electron-bombardment floating-zone technique.= The process was carried out in a vacuum of 10-5 mm of Hg using a traversing speed of 4 mm per min. Segments (=2 in. long and 3/16 in. in diam) of two crystals (A and B) produced in this manner were studied. Crystal A received one zoning pass, while crystal B received two passes. The two crystals were explosively worked at Bat-telle Memorial Institute in the following manner. A 1/2-in.-thick layer of plastic was applied to the crystals to serve as a buffer in an attempt to prevent cracking. The composite, crystal and buffer, was then wrapped with 1/8-in.-thick DuPont sheet explosive EL506A2 and detonated in water at room temperature. Metallographic samples of the worked crystals were prepared, and back-reflection Laue X-ray patterns were obtained using unfiltered molybdenum radiation. RESULTS AND DISCUSSION Blasting the crystals as described above failed to prevent cracking. The crystals fractured into several fragments about 3/16 to 1/2 in. long; however, the fragments were of sufficient size to be useful for the subsequent study. The diamond pyramid hardness of the crystals after blasting was in the range 430 to 450 as compared with 340 for the as-melted material, which shows a definite hardening resulting from plastic deformation. These hardness values were obtained using a 1000-g load and taking readings only in sound portions of the crystals free of cracks. The crystals exhibited profuse twinning as shown in Fig. 1. No such structure is present in the as-melted condition. Most of these twins have jagged twin boundaries and are similar in appearance to those found in molybdenum by Mueller and Parker. The twins in both crystals were found to be parallel to {112} planes. This identification was made by using the conventional two-trace method. Subsequent efforts to describe these twins more fully were carried out on crystal A. If the longitudinal axis of crystal A is placed in the (001)-(011)-(Il l) basic triangle of the standard cubic stereographic projection, as in Fig. 2, then the two sets of twins shown in Fig. 1 are parallel to the (112) and (121) planes. Fig. 3 shows a schematic representation of a twin with jagged boundaries. This type of twin with a <111>

Jan 1, 1962

By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today&apos;s environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

By W. G. Matteson

I. Introduction...................................................... 436 (a) Extent of the Gulf Coastal Plain. (b) History of Important Gulf Coast Oil Pools. 1. Corsicans, Tex. 2. Spindletop, Tex. 3. Sour Lake, Tex. 4. Jennings, La. 5. Saratoga, Tex. 6. Batson, Tex. 7. Humble, Tex. 8. Caddo, La. 9. Vinton, La. 10. Naborton, La. 11. Red River, La. 12. Edgerly, La. 13. Goose Creek, Tex. 14. Damon Mound, Tex. 15. New Iberia, La. (c) Favorable Features of the Gulf Coast Pools. 11. General Topography and Physiography of the Gulf Coastal Plain.....440 111. General Stratigraphy of the Gulf Coastal Plain West of the 90th Meridian......................................................441 IV. Structural Types and their Characteristics.........................446 (a) hnticlinal Structure. (b) Structure of Salt Domes. 1. Domes of the Coast Prairie. 2. Domes of the Wold Region. 3. Recapitulation of Dome Structural Characteristics. V. Methods of Surveying and Prospecting............................. 454 VI. The Development of Salt Domes................- .................458 VII. Origin of Salt Domes...............4.............................461 (a) The Volcanic-plug Theory of Hager. (b) The Contemporaneous Sedimentation Theory of Norton. (c) The Theory of Upward Pressure Exerted by the Force of Growing Crystals, as Developed by Harris. VIII. Source of the Oil in the Gulf Coastal Pools.........................465 IX. Petrolific Value of the Salt Domes of the Wold Region..............467 X. Future Outlook.................................................. 467

Jan 1, 1918

By Ralph Hultgren, David W. Mitchell

MAGNESIUM alloys usually are superheated before casting in order to ensure fineness of grain. Superheat temperatures in common use range from 1600° to 1700°F while the casting temperature, which depends upon the mold shape, is usually 200° to 300°F lower. The process of superheating requires considerable time and seriously shortens the life of the iron pots used. Recently it has been reported&apos; that if acetylene, carbon dioxide or natural gas is bubbled through molten electrolytic A.S.T.M. No. 4 alloy at 1400°F. for 5 min., grain refinement equivalent to that of superheating will take place. Addition of certain solids such as graphite or aluminum carbide accomplishes the same results.2 As will be shown in this paper, it is possible to achieve grain refinement in magnesium casting alloys at low temperatures by mechanical stirring of the molten metal for a short time. This process was developed in the course of research work, supervised by the War Metallurgy Committee under the "Restricted" Project NRC-550, for the Office of Production Research and Development of the War Production Board. This paper, based on that work, has been released for publication by the O.P.R.D. MATERIALS AND METHODS The alloys studied were the most common American sand-casting alloys designated as No. 4 and No. 17 by the American Society for Testing Materials. The magnesium used in these alloys was of both carbothermic3 and electrolytic4 origin. Chemical analyses supplied by the producers are shown in Table I. Each heat consisted of approximately 5 lb. of alloy melted in a Tercod crucible. It was refined by fluxing with Permanente No. 7* refining flux at 1300° to 1350°F. After cooling to 1200&apos; to 1250°F., portions of approximately one pound each were ladled into iron crucibles contained in an electric furnace at about 1250°F. The molten metal was covered with Permanente No. 21† covering flux and then heated to the temperature to be investigated. Normally each of the four portions was given a different treatment. In a typical case one portion was stirred vigorously for 5 min., acetylene gas was passed through a second portion for 5 min., a third portion was superheated to 1600°F for 15 min., then cooled to casting temperature, and the fourth was held for 5 min. at the temperature of stirring or gassing without other treatment. Each portion was then cast into one-inch diameter cylinders in three "nonturbulent" molds of identical shape. One mold was made of cast iron and the other two of baked sand. The cast-iron mold and one of the baked sand molds were heated to 360°F., the other baked sand mold was at room temperature. The freezing times in these molds were

Jan 1, 1945

By W. P. Frey

THE briquet plant of the Lehigh Coal and Navigation Co., at Lansford, Pa., has previously been referred to.1 It has passed. the stage of experiment and now rests,, on a foundation practically and financially sound. The purpose of this paper is to explain how success has been attained, and to set standards for the development of hard-coal briquetting which may eliminate future failures. All the conclusions are based on actual results, avoiding speculation and theory. Up to three years ago, the L. C. & N. Co. used coal-tar pitch as a binder in making hard-coal briquets. The plant operated with a monthly output of 300 to 600 tons and was unable to meet its own expenses. Naturally, no one was satisfied, especially as the ideals of a smokeless briquet were still unrealized. Then came the Dutch oil process, introduced in this country by the General Briquetting Co. of New York. This process uses as binder a small percentage of heavy residue of petroleum, which, being liquid, permits great economy of handling; it also did away with the most objectionable fumes of the former briquets. This oil2 is not absolutely smokeless; heating the fresh fuel to red heat liberates some low-volatile hydrocarbons, yielding a white smoke which is not objectionable. On the other hand, this oil adds to the briquet about 7 per cent. of volatile matter, giving the product a heating capacity equal to that of the best free-burning anthracite coal. The average silt used in the manufacture of these boulets averages 16.5 per cent. chemical ash, corresponding to 12,000 B.t.u. per pound of coal. The Hydrolene used as binder runs about 17,500 B.t.u. per pound, and approximately 7 per cent. of it enters into the mixture, hence 12,000 X 0.93 11,160 B.t.u. 17,500 X 0.07 1,125 B.t.u. Total 12,355 B.t.u. per pound of briquets

Jan 1, 1918

By Charles H. Morgan

THE process of wire drawing depends upon the property which certain metals possess, termed ductility, &apos;which is defined in Brande&apos;s Dictionary of Science as a property in consequence of which metals may be drawn out at length without interrupting the continuity of their constituent parts. As defined by M. Tresca, it is the property of flowing when subjected to pressure, and is termed by him the "flow of solids," in his paper, read before the Academy of Sciences in Paris, November, 1865 * In the simple language of the wire shop, it is that quality in certain metals that permit, them to be drawn (or stretched) out through a tapering, hole in a metal block or die, the die being more dense and harder than the metal to be reduced. It is a fact well known to those skilled in the art, that to succeed in drawing iron or steel wire, it is of the utmost importance to have thorough lubrication, as a lack of it would caws abrasion of the wire, or of the walls of the tapering hole in the die or plate, and quickly put an end to the operation. In drawing coarse or large sizes of wire, say 2/10 inch diameter, the pressure upon the sides of the tapering hole, where the wire comes in contact with the die, is so great that an ordinary lubricant is squeezed out when the usual reductions in size are made, and abrasion takes place. In order to meet this difficulty, and secure proper lubrication, it has been&apos; a common practice for years to apply a paste made of rye or wheaten flour, or lime, to the surface of the wire to be drawn, and when the paste is dry, to smear the wire with tallow or grease; the wire is then ready to be drawn, the dried paste serving to prevent the lubricant from being pressed out in the. process. Some years since, when Bessemer metal came largely into use as material for wire, "the writer found that its drawing required so much more power than iron wire, that he was led to institute a series of trials to ascertain the difference in power required. It was found that Bessemer wire required from 100 to 200 per cent. more power to make the same reduction in sizes than soft iron wire, the difference depending upon the amount of carbon and other chemical constitu- * Interesting experiments in the flow of metals have been made, by Messrs. Hoopes Townsend, of Philadelphia, in cold-punching iron, published and illustrated in the Journal of the Franklin Institute, of March, 1878, by Mr. David Townsend.

Jan 1, 1881

Meeting, of Jan. 22, 1915.-Dr. Albert R. Ledoux was unanimously nominated-by the Board as one of the representatives of this Institute upon the Engineering Foundation Board. The following Tellers to count the votes for officers and directors on Feb. 16, 1915, were appointed: David H. Browne; Arthur S. Dwight, and Bradley Stoughton; and the following Tellers to count the ballots, on the amendments to the Constitution: Arthur L. Walker, Max Roesler, and Burr A. Robinson. Karl Eilers was appointed a member of the Library Board of the United, Engineering Society, representing this Institute in place of C. R. Corning, ;resigned. The Pick and Hammer Club of the University of Oklahoma was established as an Affiliated Student Society. The sum of $150 was appropriated to the Columbia Local Section. The sum of $29.50 was appropriated to the Chicago Local Section.

Jan 3, 1915