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(The following-list contains the names of those members of the Institute of whose connection with military service we have only recently. become acquainted.) ADAIR, ARTHUR C., Corporal, 4th Co., 1st Tr. Bn., 154th D. B., Camp Meade, Md. BATCHELOR, STILLMAN, 1st Lieut., Co. 6, E. 0. T. S., Camp Humphreys, Va. BATES, BENNETT R., 1st Lieut., Engineers, Co. 3, E. 0. T. S., Camp Humphreys, Va. BJORGE, GUY N., Co. 3, E. 0. T. S., Camp Humphreys, Va. BOAS, Ross, H., U. S. A. BRADLEY, . H., JR., Capt., 408th Engineers, Camp Cody, N. M. BRINTON, OWEN F., Capt., Engineers, U. S. A. BROWN, HAROLD C., 2d Lieut., A. S. A.P.

Jan 1, 1919

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By Donald W. Scott

Generally speaking, there is nothing very difficult about taking good microgrztphs of photogenic thin sections or grains with a petrographic microscope-camera setup. However, sometimes it is desired to show some detail that cannot be illustrated satisfactorily by the usual micrographs taken with parallel polarized light, with crossed nicols, or even with two micrographs. A simple procedure giving good results has been used at Battelle Memorial Institute for subjects falling into this classification, and it is believed to be of interest, especially to research people who must sell a point to executives through the medium of well-illustrated reports. The following problem illustrates a typical application: It is desired to photograph a thin section of an iron ore to illustrate the character and association of the iron oxides and the individual quartz crystals. A magnification of 75 dia. is acceptable. A micrograph of the field in question (Fig. Ia) was taken with parallel polarized light. Due precaution was taken to provide critical illumination, correct exposure, a sharp focus, a good darkroom technique, and other essential conditions. It illustrates correctly the iron oxides, but it fails to show the individual quartz crystals. A micrograph of the identical field (Fig. Ib) was taken under the same precise conditions, but with crossed nicols. It gives a better idea of the character of the individual quartz crystals but is likely to be misinterpreted unless accompanied by a lengthy descriptive note. This micrograph suggests that the centrally located, large black area is composed entirely of iron oxides. That this' is an incorrect interpretation is evident by reexamining the micrograph of Fig. Ia. The correct interpretation is that the dark area contains quartz crystals oriented with their optical directions parallel to, or nearly parallel to, the vibration directions of the polarizer and analyzer of the microscope. Thus, the executive, or anyone who had not done the work personally, would get no more than a fair interpretation, even if two micrographs were included; and in the interests of both brevity and clarity, one micrograph usually is more desirable. Exactly how many quartz crystals occur in this region cannot be told from the two micrographs, and a printing of the two negatives in register would likewise not show the detail desired. Thus, it is evident that some subjects cannot be satisfactorily illustrated by the usual procedures. In photographing Fig. Ic the light was subdued and, during the entire exposure of 75 sec., the analyzer nicol was rotated uniformly in its mounting from a crossed position to 45° uncrossed position to introduce the desired amount of contrast in the various individual quartz crystals. The true reproduction of the character and association of the iron oxides, and the additional structure and detail in the quartz areas, is apparent. It might be

Jan 1, 1949

By Donald W. Scott

Generally speaking, there is nothing very difficult about taking good microgrztphs of photogenic thin sections or grains with a petrographic microscope-camera setup. However, sometimes it is desired to show some detail that cannot be illustrated satisfactorily by the usual micrographs taken with parallel polarized light, with crossed nicols, or even with two micrographs. A simple procedure giving good results has been used at Battelle Memorial Institute for subjects falling into this classification, and it is believed to be of interest, especially to research people who must sell a point to executives through the medium of well-illustrated reports. The following problem illustrates a typical application: It is desired to photograph a thin section of an iron ore to illustrate the character and association of the iron oxides and the individual quartz crystals. A magnification of 75 dia. is acceptable. A micrograph of the field in question (Fig. Ia) was taken with parallel polarized light. Due precaution was taken to provide critical illumination, correct exposure, a sharp focus, a good darkroom technique, and other essential conditions. It illustrates correctly the iron oxides, but it fails to show the individual quartz crystals. A micrograph of the identical field (Fig. Ib) was taken under the same precise conditions, but with crossed nicols. It gives a better idea of the character of the individual quartz crystals but is likely to be misinterpreted unless accompanied by a lengthy descriptive note. This micrograph suggests that the centrally located, large black area is composed entirely of iron oxides. That this' is an incorrect interpretation is evident by reexamining the micrograph of Fig. Ia. The correct interpretation is that the dark area contains quartz crystals oriented with their optical directions parallel to, or nearly parallel to, the vibration directions of the polarizer and analyzer of the microscope. Thus, the executive, or anyone who had not done the work personally, would get no more than a fair interpretation, even if two micrographs were included; and in the interests of both brevity and clarity, one micrograph usually is more desirable. Exactly how many quartz crystals occur in this region cannot be told from the two micrographs, and a printing of the two negatives in register would likewise not show the detail desired. Thus, it is evident that some subjects cannot be satisfactorily illustrated by the usual procedures. In photographing Fig. Ic the light was subdued and, during the entire exposure of 75 sec., the analyzer nicol was rotated uniformly in its mounting from a crossed position to 45° uncrossed position to introduce the desired amount of contrast in the various individual quartz crystals. The true reproduction of the character and association of the iron oxides, and the additional structure and detail in the quartz areas, is apparent. It might be

Jan 1, 1949

By Orr Hamilton

VALUATION of a mine is an approximation of its true cash value which requires the application of fundamental principles of economics. Mines are valued from necessity, for the following reasons: (a) Transfers of titles. (b) Dissolutions of partnerships or corporations. (c) Mergers of mining companies. (d) Appraisals for the purpose of State and Federal taxation. (e) Establishment of the fact of worth as a basis of loans. (f) Determination of values as frequently required in litigation. (g) Listing of stock for sale by a reputable stock exchange. For the majority of purposes a valuation is required as at the present time, but for some purposes valuations as of bygone times may more nearly reflect the intrinsic worth of a mine because its subsequent history can never be, entirely ignored, but valuations made as at the present time are better indicators of cash values. Many mines with great intrinsic worth have been sold for small cash prices. The object of legitimate mine valuations is to deter-mine salable value, or that price in cash at which a transfer of the property from a willing seller to a willing buyer might be consummated, assuming that both vendor and vendee have knowledge of all pertinent data and that the owner, is not forced to sell at a sacri-fice-the definitions of fair market value precluding a forced sale.

Jan 11, 1923

SME Membership Directory Listings of record March 31, 1072 SOCIETY OF MINING ENGINEERS OF AIME

Jan 7, 1972

By Thomas Read

SUMMARY THE cost of labor turnover in industry is so large as to justify the adoption of almost any means to bring about its reduction. Intensive study has shown that faulty methods of hiring and discharging men is the most important factor in labor turnover. Complete control over hiring and discharging by the foreman is a relic of outgrown industrial conditions; centralized hiring permits this work to be put on a scientific basis and also does away with many serious evils that cannot otherwise be reached. Centralized hiring does not impair the authority of the foreman; he hires his men from the employment office and discharges them back to it, instead of from and to the street. The employment manager, being a direct representative of the employer, tends to restore the former relation of direct intercourse between employee and employer that was helpful in avoiding friction between them. Being a specialist, he is able to bring special knowledge and skill to bear upon the task of selling employment in his concern to desirable workmen; lie is also able to give the foreign workman the special attention he requires. Employment managers have been used for the past few years by a number of large organizations, a few of which are engaged in the mining and metallurgical industries. They have invariably reduced labor turnover, in some cases to as little as one-tenth of what it had been. So great a reduction is due in part to other changes made in the light of the data made available by scientific study of the labor problem. In my former paper on personnel work1 I advocated the more general use of the employment manager in mining and metallurgical enterprises as a means of reducing labor turnover. The form of organization recommended seems not be to understood by all, and I have requested the privilege of explaining it at greater length, since it is perhaps the most important factor of all in personnel work, and has a vital influence on the cost sheet of every industrial enterprise.

Jan 2, 1918

By M. C. Messner, L. P. Davidson

The Giesche Spas Akcyjna, in Polish Upper Silesia, produces zinc, lead and coal, together with many byproducts emanating from the zinc-lead ores. The development of the concern in the 230 years of its existence has been influenced not only by metallurgical improvements but also to an unusual extent by political and economic factors. The company was founded by George Giesche, who was born in 1653 and died in 1716, and who in 1704 received from Emperor Leopold I the exclusive privilege of mining and selling galmei1 in Silesia. His children, who retained the business, gave the name to the firm—George von Giesches Erben. After 1802 modifications in the Prussian mining and corporation laws limited the rights formerly enjoyed. The family concern became a corporation and expanded its activities, building smelters and opening new mines. The establishment of the present eastern boundary of Germany resulted in the transfer of nationality of a large part of the mines and surface plants to Poland, which, in turn, necessitated the formation of a Polish company, the Giesche Spólka Akcyjna. The first concentrators at the Bleischarley mine were built between 1854 and 1860 and owing to dual ownership were two in number. They were used only for the treatment of galena. In 1873 a concentrator was built for the treatment of sulfide ore preparatory to treatment in the Recke roasting plant, which was the first to have an acid plant for recovery of the sulfur gas. This concentrator was replaccd by a larger one in 1888, when the present orebody was opened up. At the same time, a mill was built for the treatment of the galmei. The concentration of the sulfide ore resulted in a much higher grade of feed for the zinc plants after the first troublesome steps of the roasting process had been worked out. Consequently, the oxide ore in its primitively concentrated state was no longer highly valued as a retort charge. and steps had to be taken to increase its zinc content.

Jan 1, 1935

By Don C. Blackmar

THE production of non-ferrous secondary metals has become a large and important industry in the United States, and deals with practically every type of manufacturing concern. Its business is unique in that it generally buys from its customers as well as sells to them, whether they are individuals, cities, corporations, or the United States government. Its operations are of vital importance to the success and prosperity of many of the nation's most important manufacturers; yet there are few industries about which less is generally known by those outside it, whether concerning the magnitude of its operations or the details of its actual technique. The industry itself is to blame for this meager publicity, because its technical men have made few attempts to openly exchange ideas, in spite of the excellent examples set by the iron and steel or the copper and brass industries. Whether this is due to the ancient shroud of secrecy generally supposed to cover smelting operations, or because its technical men actually felt that the industry was too puny to be interesting, is hard to say. This paper will consider its subject in a general way, attempting to show something of the size and importance of the industry, as well as its fitness to do its work well. Attention will be called to the sound economic reasons for the handling of non-ferrous wastes by specialists, and to the often unseen losses of metals and labor which occur when manufacturers reclaim their own metallic wastes. MAGNITUDE OF THE MODERN INDUSTRY No particular thought is given to the kitchen accident whereby a ruined saucepan is sorrowfully tossed into the ash can, yet it is a fairly safe guess that within a month this saucepan, together with hundreds of its fellows, will again be in service, perhaps in an automobile crankcase, or in an electric vacuum sweeper. It is by this conversion of the useless into the useful, whether from home or large manufacturer, that the secondary tonnage is built up.

Jan 1, 1928

By Dr. O’Neil Thomas J., Donald W. Gentry

It was a western truism that more money was made from selling mines than from buying them, just as it was accepted that many a good mine had been spoiled by working it. from R. E. White, "The Mining Town," Alta California August 18,1873 INTRODUCTION One of the most important aspects of mineral enterprises of US corporations is the influence of the depletion allowance on cash flow. This allowance permits mineral producers to claim sizable federal income tax deductions not available to other industries, and these deductions significantly increase cash flows in mining. In the past several years the minerals depletion allowance has come under increasingly heavy fire from many sectors as a tax loophole that deprives the federal government of large amounts of revenue. One estimate of the loss of tax dollars in 1968 was $2.25 billion due to depletion deductions and intangible expenses in the oil industry. Largely on the basis of such arguments, the Tax Reform Act of 1969 reduced percentage depletion rates for a number of minerals, and the Tax Reduction Act of 1975 totally eliminated statutory depletion for most oil and gas. In regard to percentage depletion for hard minerals, the federal government has estimated its resulting loss of revenue at $1.75 billion for 1980. The TEFRA legislation of 1982 further reduced the statutory depletion allowance available to iron ore, coal, and lignite beginning in 1984. Thus, it is clear that minerals engineers and managers should have a thorough knowledge of the origin, evolution, justification, and computational procedures relating to the depletion allowance. ORIGIN AND EVOLUTION OF THE DEPLETION ALLOWANCE

Jan 1, 1984

By Frank A. Howard

WHAT are the reasons for the present public interest in the synthetic fuel industry, an interest which has culminated in the recommendation of the Secretary of the Interior that we start at once on a nine billion dollar program of construction? Three separate factors seem to have combined to create this pressure. First are recurrent seasonal and spot shortages of gasoline, fuel oil, and natural gas. Second is the international outlook, which forces us to face the possibility of war, with all that means in the way of increased call on our domestic resources and interference with our foreign commerce. The shortages we have experienced are superficially the result of lack of transportation, but basically they reflect a rapidly rising demand which has outstripped the expansion of productive facilities of all kinds. Not only oil and gas, but steel, coal, automobiles, and meat are temporarily in short supply for much the same reasons. The military problem has both long-range and short-range aspects, but the immediate necessity is to create reserve capacity in the United States to supply perhaps 2,000,000 barrels daily additional liquid fuel in time of war.

Jan 1, 1948

By Douglas A. Karvonen

INTRODUCTION Although the economy in the Province of Saskatchewan has historically been agriculturally oriented, a major source of wealth has been realized through natural resources such as petroleum and natural gas, coal and uranium and since the 1960's - potash. Potash or potassium chloride, in the form in which it is presently produced in Saskatchewan, is used primarily as fertilizer, a source of potassium, one of three essential elements required for healthy plant growth, with about 5% of production sold to the chemical industry for use in such products as soap and liquid detergent, glass and ceramics, textiles and some pharmaceuticals. Saskatchewan is estimated to have approximately 40% of known world potash reserves and its ten active mines account for some 25% of annual world production. POTASH CORPORATION OF SASKATCHEWAN In an effort to guarantee a fair and lasting economic benefit to the Province of Saskatchewan, the Potash Corporation of Saskatchewan (PCS) was created on February 4, 1975 through an Order-in-Council under the Crown Corporation's Act and later on April 1, 1976, the Potash Corporation Act provided for its continuation. PCS was given the mandate to acquire ownership of a significant portion of the potash mining capacity in Saskatchewan and to establish an organization capable of operating the facilities, marketing the product, and conducting all of the other activities necessary for a successful corporation competing in the world potash industry. The corporation is the largest potash producing and selling organization in the Western World - or third largest in the world. (See also Figure 1). PCS through its wholly-owned subsidiary, PCS Mining, has acquired a whole or partial interest in five geographically distinct producing properties or divisions, representing today more than 40% of Saskatchewan's potash producing capacity. The acquisition of each division was followed by a program designed to exploit and maximize the particular opportunities at each minesite for increased production. To that end, PCS Mining has taken an active lead in expanding to meet future demand and has implemented expansion programs at all properties except for its Esterhazy Division where it has a long-term processing agreement with International Minerals & Chemical Corporation (Canada) Limited. Through its wholly-owned subsidiaries, PCS Mining, PCS Sales and PCS Transport, this provincial crown corporation has the ability to operate as a producer and marketer of Saskatchewan's potash. In certain instances PCS, the parent company, assists in the financing of various projects undertaken by the subsidiaries and in other cases the subsidiary involved arranges its own financing. POTASH RESERVES As a background to the specific issue of financing, it is helpful to describe briefly the nature of the deposit which supports the industry - our collateral, if you like. The potash beds underlying Saskatchewan are sedimentary rock deposits formed by the gradual evaporation of an inland sea during the Middle Devonian period roughly 400 million years ago. Now known as the Prairie Evaporite, this formation stretches from North Dakota and Northeast Montana through Southern Saskatchewan into North-Central Alberta. These beds lie at mining depths ranging from 950 - 1000m (3,000 ft) below the surface, where conventional mining methods can be used, and to 1,650m (5,000 ft), where solution mining must be

Jan 1, 1985

For the first time, the attendance at the meetings of the Institute passed the thousand mark; as is shown by the following table: REGIS- AT BANQUET DID TOTAL TERED NOT REGISTER Men :..:... 703 76 806 Women 195 61 256 1062 The names of the members and guests who registered or attended the banquet but did not register are: A A. D. Beers C. A. Adams Hans Behr Thos. J. Adams Edgar G. Bell Lawrence Addicks Donald A. S. Bell H. T. Abrams W. de LeBenedict G. Aertsen G. B. Bertelli M. M. Albertson Charles P. Berkey James Aldrich Clinton Bernard D. C. Alexander, Jr. W. N. Best W. H. Alexander Robert M. Betts A. W. Allen Christopher H. Bierbaum F. D. Aller Paul Billingsley R. H. Allport R. A. Bingham F. C. Alsdorf R. M. Bird Capt. M. Altmayer John L. W. Birkinbine A.' W. Ambrose G. S. Bisey Henry M. Ami Charles W. Boise F. L. Antisell J. J. Blackmore R. S. Archer A. E. Blackwood Paul' Armitage Capt. C. K. Blatchly Andrew B. Armstrong E. L. Blossom Clifton T. Armstrong C. A. Bohn Ralph Arnold James M. Bonsall R. M. Atwater, Jr. E. E. Boon Joseph E. Aue Gail Borden A. M. Austin R. S. Botsford W. S. Ayres John M. Boutwell

Jan 4, 1919

By John A. Church

Jan 1, 1880

By Lawrence Addicks

F. N. FLYNN, Clifton, Ariz.-As a number-of my associates in Arizona know, for a great many years, I have felt that leaching was one of the coming problems. We are about to start experiments at Clifton, along the idea of leaching wet flotation concentrates direct, without roasting-differing in this respect from Mr. Addicks' suggestion. We are prompted in starting these investigations by the difficulty in. transporting and handling flotation concentrates, and consideration for drying and roasting dust losses. I have had the idea for 5 or 6 years past, that those very fine concentrates could best be treated by leaching at the concentrating plant, thus eliminating our transportation difficulties to the smelter, and dust losses at the smelter. Given flotation concentrate, if it must be dried and roasted, it would, in our case, undoubtedly be cheaper to smelt the calcine, but if it can be leached raw and wet and the drying difficulties- and dust loss eliminated, it would be very advantageous to leach it at the mill. I realize that it will be a difficult problem, and one which may take several years to develop, but if developed, it would pay for many years' expense of investigation, and we have been encouraged by our general manager to investigate its merits.

Jan 12, 1916

By Anthony Tuke

Members of the Society of Mining Engineers may well regard it as rather unusual that a paper on this subject is being presented by someone whose first taste of mining came at the age of 60 or so - someone who last heard of cathodes and anodes in 1938. On the other hand, the title does refer to the financing of a mine and at least I can claim to have spent all my business life since the war until 1981 in the world of banking, though this inevitably means that I have been used to looking at these and other problems through what you might regard as the wrong end of the telescope. The lending of money, and more particularly the provision of finance for commerce and industry, is the central job of a banker and I have been involved in this in various ways over many years, but regrettably only very marginally in the world of mining. As you will see from what follows, the rather specialised form of finance which RTZ required was, to my regret, not provided by the British banking community since the great majority of the finance came from American banks and, to a lesser extent, from German banks. I am most indebted to Mr. Roy Wright for a great deal of the nuts and bolts in this paper. He was one of the three central figures in the growth and expansion of RTZ during the 1950's and 1960's and was right at the centre of the negotiations with bankers, with governments and with many others. The going, as you will see, was far from easy. The essential basis for the financing of each of the RTZ group's mining projects was a firm long-term sales contract for sufficient of the output of the particular mine to produce the cash flow necessary to service the loans. Wherever possible, loans were raised in the same currency as the sales contracts were made. Each sales contract was designed to give the customer the product he wanted with a long-term assurance of supply and at the same time to give the bankers the protection they required. Thus the marketing concept and the financing concept for a particular mine formed one overall plan, and talks with the customers and the bankers were conducted in parallel until a satisfactory marketing/financial package was agreed in principle. Preliminary talks were begun soon after the discovery of a potentially viable orebody. As confidence about a discovery increased, customers were persuaded to enter into contingent sales contracts before the very detailed and costly business of the economic and technical feasibility study of the mine was launched; such a study might cost 10% or more of the estimated total capital cost. At the same time provisional understandings were reached with the bankers. The contingent sales contracts usually gave a period of grace of eighteen months to two years, during which time the decision whether or not to continue with the mine had to be made. This decision rested mainly on the result of the feasibility study and also on coming to a firm agreement with the bankers. If all went well and the mine went ahead, then the contingent sales contracts became firm, but they fell away if the decision was negative. The Company was fortunate that during the whole period when its major mines were being developed, world trade was increasing rapidly and Japan was becoming a dominant industrial power. The Japanese supported many of the mines, including Hamersley Iron Ore, Lornex Copper, Bougainville Copper to name a few, with the basic long-term sales contracts that enabled their development. The Germans supported Palabora and to a lesser extent Bougainville. The mines were financed as individual projects generally with a loan/equity ratio of about 65/35, without legal recourse to RTZ for the loans. RTZ was, however, responsible for providing any capital overruns required to bring the mines into commercial operations. Nevertheless, the RTZ management regarded itself as morally responsible to the lenders because, Palabora aside, the sales contracts had either a fixed selling price (like Hamersley), an indexed price (like the Elliot Lake Uranium Mines and Mary Kathleen), or a floor price (as in Lornex, Bougainville and Rossing). Thus the Company believed that any financial failure would have been due to poor management or technical

Jan 1, 1985

By David Reger

LITTLE new oil was found in West Virginia, during 1923, but there were important discoveries of gas. Most of the large oil producers have contented themselves with pumping old wells or in drilling only enough new wells in defined territory to maintain a fairly constant production, the attitude being that no, profit is made in producing high-grade oil at a low price and that an eventual loss is sustained by draining the reserves of a limited commodity that, at some more favorable time, will be of much value. The representative of one large company said: "We have done nothing but pump old wells during 1923 and we have made no plans for 1924." Careful attention to producing wells has been the rule, there having been few abandonments; the belief is prevalent that small wells will eventually become profitable under more favorable marketing conditions. In natural gas, the opposite point of view prevails. Because of the vast capabilities of the state for producing gas, its output being ahead of all others, great systems of transportation and distribution into the markets of four adjoining states have been built and a demand has been created that no present, or apparently potential, production can satisfy. This demand has become so great that large distributing companies not only discourage new applications for service but advise old customers to install coal furnaces for auxiliary fuel; some have requested public-service commissions to grant higher 'rates against large industrial consumers than those allowed for domestic heating. The response to this known market has been a rapid increase in price, both at the well mouth and at the door of the ultimate consumer, and the industry has become so stable that the only uncertainty, or hazard, appears to be the question of the presence of gas in fair quantity in a given territory under consideration. Several oil companies have now forsaken their policy of selling gas, wells outright when drilled and ;have organized gas departments to drill for gas and to dispose of the daily output by meter to distributing corporations. With such companies and with other producers whose interest is chiefly gas, the year has been busy and profitable. Some new territory of apparently large value has been proved and deeper producing sands in old fields have been tapped.

Jan 3, 1924

By H. A. Lequear, J. D. Lubahn

A sudden change from one constant strain rate to another during a tensile test causes an unusual transient in aluminum alloy 61ST. A sudden change from one constant stress to another during a creep test does not produce an unusual transient in this material. A specially devised test shows that the nature of the previous steady-state conditions, which the sudden change disturbs, is one of the factors affecting the transient behavior. Some of the observations may be explained in terms of strain aging. USUALLY a sudden change during a tensile test from one constant strain rate to another causes a small, abrupt vertical shift from one stress-strain curve to another, parallel one. This behavior is apparently characteristic of all metals at very low temperatures and of many metals for wide ranges of temperature. It is illustrated in Fig. 1 for some early data on 61ST tested at — 195oC, and in Fig. 2 for some recent data on copper at room temperature. The greater accuracy of the results of Fig. 2 over previous ones' is due to the equipment shown in Fig. 3. Three levers apply the bulk of the load, while the changes in the small remainder load are indicated sensitively by a low capacity load scale. Refs. 2 and 3 describe the recording equipment. A test like those in Figs. 1 and 2 provides the information necessary to determine the rate sensitizrity, n,4 of the metal. ( a log s ) ? log s n = ------------------------ ----------------------------= ( a logs e, ? log e logS2-logS1 log S2/S1 log i2 — log e1 log e2/e1 where S equals stress: e is logarithmic strain or natural logarithm of (final gage length/initial gage length);" i is strain rate or de/dt: and n is rate sensitivity, rate of change of log stress with log strain rate at a given strain, or (a log S/a log i),. Normally, the rate sensitivity, n, is positive, which means that an increase in stress causes an increase in rate. However, certain exceptions, attributed to strain aging,5 have been observed. Fig. 2 indicates how rate sensitivity values are derived from the measurements. Table I summarizes the rate sensitivity values derivable from Fig. 1. In contrast to the behavior of copper in Fig. 2, the aluminum alloy 61ST, which strain ages when tested near room temperature, exhibits an unusual transient when the strain rate is suddenly changed,' as shown in Fig. 4. Initially, there is a comparatively sudden vertical shift of the stress-strain curve in a direction corresponding to the rate change, but then the curve gradually shifts back again. The initial shift is not as sudden as might be expected, because the testing machine is unable to achieve the impressed rate change instantaneously, as illustrated in Fig. 2. The behavior shown in Fig. 4 will be referred to as a tensile transient, the word tensile implying that the behavior was observed in a tension type of test. The corresponding test, where the strain rate is maintained constant except for the sudden change, will be called a tensile transient test. A creep transient, by contrast, will be defined as a temporarily abnormal behavior in a creep transient test, where there is a sudden change from one constant load to another.' In Fig. 4, a naive look at the gradually decreasing and then increasing load after a sudden rate incre-

Jan 1, 1957

By L. S. Darken

IN the study of reactions occurring in liquid iron, alone or in contact with a liquid oxide or slag phase, it has been found that the experimental data over a limited range of concentration can in some cases be repre-sented satisfactorily by the simple equilibrium expression K - (p1)p1 (p2)p2 . (R1)r1(R2)r2 . where (P) denotes the concentration of a product and (R) the concentra-tion of a reactant in the reaction r1R1 + r2R2 + . . . Some of the reactions for which it holds are listed in Table 1. For others, however, the simple equation apparently does not hold. This has been attributed to an improper method of expressing concentration (for instance, weight per cent instead of mol fraction); or it has been supposed that the solutions are not ideal in the sense that the activity of a com-ponent is not proportional to its true mol fraction, But it may be that the problem has been oversimplified by neglecting some molecular species actually present; that is, by considering only the ostensible simple com-ponents and thus leaving out of account possible compound formation. It is the purpose of the present paper to point out how, in a group of related cases, a reasonable consistent assumption relative to the presence of a compound makes it possible to express the experimental data satis-factorily by the simple equilibrium expression when this compound is taken into account, and to bring into harmony data referring to different reactions in liquid iron. There are several a priori reasons for believing that solutions in liquid iron should not deviate far from ideality, provided that the concentration of solute is not too great and is expressed in proper terms. The factors that commonly lead to nonideality in systems at ordinary temperature as ionization or the occurrence of polar and nonpolar molecules-are presumably less effective in metal and in slag systems at high temperature. Again, the type of equation commonly used to express the value of

Jan 1, 1940