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A Discussion of the papers of James Gayley, on "The Application of Dry-Air Blast to the Manufacture of Iron" (see Trans., XXXV., 746, 1022, also pp. 315 and 745 of the present volume, and of J. E. Johnson, Jr., on "The Physical Action of the Blast-Furnace," p. 454. Chas. B. Dudley, Altoona, Pa.:—I am not a blast-furnace man, and this always puts me at a disadvantage because I cannot go into the details of the making of iron and steel. I have not the experience, and have to take the statements of other people, so what I say regarding the subject of this paper is not in the sense of an expert. When I first heard of Mr. Gayley's experiments, I said to myself, a I fear they will result in failure, since, apparently, Mr. Gayley has forgotten one chemical fact, namely, that carbon does not combine with oxygen in the absence of mater-vapor." This fact which was so astonishing when it was first brought out some years ago, and which those who are interested may find in the Journal of the Chemical Society of London, for 1885, page 349, and 1894, page 611, led me to think that the drying of the air would be a mistake. The general subject of the influence of water-vapor on chemical action is a large one; but the special point in which we are, for the moment, interested, namely, the influence of water-vapor on the combustion of carbon, was especially treated by Mr. H. B. Baker, in the papers referred to. Apparently, however, as the result of Mr. Gayley's experiments, we are to learn that the amount of moisture still left in the desiccated air is sufficient to secure perfectly satisfactory combustion. In thinking over Mr. Gayley's paper, it occurred to me that there were two alternatives, either of which might be chosen, namely, we might dry the air as Mr. Gayley does, or possibly we might, in a very much easier way, simply saturate the air at a constant temperature, and thus get uniform working and

Jan 1, 1906

By Randall L. Neal

This paper discusses the impact of taxes at the state and federal level on typical on-shore oil and gas exploration economics in the USA. Taxes considered are the windfall profits excise tax, state production (or severance) taxes, state income tax, and federal income tax. Also considered will be market prices for oil and gas in the USA. The effect of government take as a percent of revenue, on rate of return, discounted Payout, and discounted cumulative cash flow is shown on the attached tables. The conclusion drawn is that tax laws, while rarely the most important factor to be considered when drilling a well, can have significant impact on the profitability of oil and gas ventures, and should be considered when determining where to drill. Hypothetical exploration wells were analyzed for the impact of tax laws on project profitability. The results of this study show that when factors other than taxes are postulated to be the same (such as producing rate, capital, operating costs, and prices), cash flow can vary by as much as 68% due to the differences in the tax laws. Other significant findings for the cases studied include: (a) that discounted payout varied by as much as 1.8 years, (b) that rate of return differed by up to 67% and (c) the total tax rate as a percentage of revenue had a maximum variance of 33%.

Jan 1, 1982

By C. M. Schwartz, A. E. Austin, W. B. Wilson

High-temperature X-ray diffraction studies were conducted with Th-U alloys with up to 10 wt pet U. The solid solubility of uranium in thorium as a function of temperature was determined by the method of lattice parameters. Thorium will dissolve up to 2.5 wt pet U at 950°, 4.5 wt pet U at 1150°, and 7.5 wt pet U at 1250°C. Determinations were made of the temperature of the transition of thorium and of the effect of uranium upon the transition. The a to ß transition for thorium was observed to occur at 1330' ±20°C. Mean coefficients of expansion were calculated for thorium and two alloys, and for ThO2 in contact with the thorium, using X-ray lattice-parameter data. Values obtained at 950° C for thorium and Tho2 were 12.1 and 9.40 X 10-6 per OC, respectively. Impurities obtained during the X-ray exposure were identified by diffraction and were essentially Tho2 and ThC, with two additional unknown phases being detected. The effect of the impurities upon the results is discussed. DIRECT investigation (i.e., high-temperature X-ray diffraction studies) of the phase diagram of thorium-rich uranium alloys has been shown to be necessary since recent work1 - has disclosed the presence of an allotropic transformation near 1400°C in pure thorium with the room temperature face-centered-cubic phase transforming to a body-cen-tered-cubic structure at the elevated temperature. The effect upon the transition of the addition of uranium to thorium and of the solubility of uranium in thorium at high temperatures remained unknown, yet was of interest in understanding fabrication procedures and elevated temperature use. The present work was undertaken to provide information in this area by determining the transition temperature, the effect of uranium on the transition temperature, and the solubility of uranium in thorium as a function of temperature. Experimental Work The high-temperature diffraction data were obtained using a camera especially designed for the purpose3 and capable of reaching temperatures in excess of 2000°C at pressures as low as 1 x 10." mm Hg. Temperature regulation was provided by regulating the power input to ±0.1 pet variation, and by regulating the water flow through the camera jacket to provide a constant thermal load. The X-ray sample was a rod nominally 80 mil diam, which was further turned down to 20 mil and then etched to 18 mil over 1/2 in. of one end. This was placed in the sample holder and mounted on the camera so that the smaller part was surrounded by a cylindrical tantalum-sheet radiation-type heating element. Diffraction from the sample was recorded on film after passing through a slot in the heating element and radiation-baffle shield and through beryllium vacuum windows. The X-ray film mounting was of the Straumanis type4 with a camera diameter of 114.59 mm. Since previous work of Chiotti' indicated that impurities considerably alter the transition temperature, chemical analysis of the arc melted iodide crystal-bar thorium samples was obtained prior to testing. The analysis disclosed the material to contain as low as 0.001 ±0,0002 wt pet H and 0.007 ±0.001 wt pet 0. Carbon was 0.003 wt pet and nitrogen less than 0.002 wt pet. This material was sealed in mild steel in an inert atmosphere and subsequently hot rolled to 3/8-in. diam rods at a temperature of 732°C. Following removal of the jacket, the material was pickled and cold swaged to 1/8-in. rods, from which the diffraction samples were prepared. The alloys were similarly prepared, with the uranium being added during arc melting. The uranium analyses of the alloys prepared appear in Table I. The experimental procedure for diffraction examination of the three samples of high-purity thorium differed from those of the Th-U alloys. The original practice, later modified, consisted of pumping down the camera with the diffusion pump on and then admitting liquid nitrogen to the cold trap of the system. This was modified for the Th-U alloys by maintaining liquid nitrogen in the cold trap at all times before and while the diffusion pump was heated. This minor change produced a reduction in the amount of carbon pickup by the sample during exposure to the diffusion-pump vapors. The sample was brought to the desired test temperature and exposed for 21/2 hr at pressures which were usually 2 x 10-6 mm Hg, or lower. Exposures were made at

Jan 1, 1959

By Carl M. Fellman

LABOR disputes caused considerable turbulence in the coal mining industry during 1946. As an outcome of these disputes, a definitely fundamental change in safety procedure was instituted: establishment of safety regultions for coal mines through the agency of agreements between the miners' union and the agency or agencies operating the coal mines. Although a temporary plan at present, the future will determine the. extent to which it may become permanent. Notwithstanding the turmoil in the industry extending through much of the year, the safety record for the first eleven months of 1946 was the best in the history of the industry for that period. The fatality rate for 1946 is lower than in any other year in the history of coal mining in the United States. This follows a pattern inasmuch as new low coal-mine fatality records were also made in 1945, 1944, and 1943. The five-year period 1942 to 1946 inclusive has a coal-mining fatality rate far lower than any other five-year period in the history of the industry. It is significant that this period exactly coincides with the operation of Federal coal mine inspection which got under way early in 1942.

Jan 1, 1947

By E. C. Bain

THE more familiar compositions of iron-carbon-chromium1 and the iron-carbon-tungsten2 systems have been investigated with a degree of thoroughness which has permitted the construction of their three-dimensional equilibrium diagrams; and it is probable that these equilibrium diagrams are sufficiently accurate for the present metallographic needs. Strangely enough, in spite of their importance, the alloys of iron, carbon and manganese apparently have not been investigated in the same systematic manner, and so far as is known, no three-component equilibrium diagram for this system is available. Even iron-carbon-nickel alloys3 have been studied rather more thoroughly; for these the solidus and liquidus surfaces have already been determined, but the solid transformations in this, as in the manganese system, have not been reported systematically. The present paper deals with the constitution at equilibrium of a series of 36 iron-carbon-manganese alloys of commercial purity limited by 1.5 per cent carbon and 15 per cent manganese, a range of compositions including most of the manganese steels. The temperature range of melting has not been determined, nor has the high-temperature (delta iron) ferrite equilibrium been included in the study, it being considered that the more important characteristics of the manganese steels are their ordinary transformations in the solid state. The delta iron region is almost certain to be a small tetrahedron not very different in magnitude or contour from that in the iron-carbon-nickel diagram. It is probably true

Jan 1, 1932

By Wilhelm Borchers

IN all special branches of the chemical and metallurgical industries, in which large electric furnaces became necessary for carrying out new processes or for the improvement of old ones, the development of the electric furnaces took place on much the same lines. The endeavors to make a success of a new idea brought forth many ingenious designs, which, however, almost without exception, furnished the proof that the safest and shortest way to practical success is the utmost simplicity of construction of the necessary apparatus. Our knowledge of the qualities of materials for building electric furnaces and of the constituents of the furnace-charges, especially their electric conductivity and their chemical affinity . towards one another at high temperatures, is still far from being complete, and from this fact we must conclude that the smaller the number of elements in the construction of a furnace, the fewer the number of unreliable factors both in the construction and in the operation of the electric furnace. This conclusion deserves special attention when an electric furnace for making steel has to be chosen from the constantly growing number of inventions, inasmuch as the chief con¬stituent of steel, the element iron, is a substance which in its liquid phase has so great an affinity fir those elements which are to be removed from the charge, that it is very difficult to comply with the following conditions: 1, to beat the refining-slag to the highest point of its chemical activity ; to prevent the iron from entering the slaw, or, where this cannot be done, to make it enter so that it finally appears in the end-product

Jan 1, 1910

By P. G. Nahin, A. Grenall, R. S. Crog, W. C. Merrill

A progress report of an experimental investigation into the role of clay in reservoir performance is presented. The Paper gives some of the reasons for considering clay as a significant component and outlines the objectives of a broad field of stud) which it is intended to pursue. Descriptions of the analytical methods used are given; these include X-ray diffraction. elec tron miscroscopy, thin section petrography, infrared spec-troscopy, and cation exchange analysis. A suite of the more important clay minerals has been assembled and characterized l~y these methods for use as standards in core analysis. From the data obtained it appears that although no one method of analysis is diagnostic for all of the clay minerals the infrared technique shows considerable promise in this direction. For the present, one or more supplementary methods should be used to confirm the clay mineral identifications. The methods of analysis are applied to field cores taken from repesentative and widely differing strata especially as regards their susceptibility to damage by fresh water. well.; completed in the stevens and Gatchell zones in San Joaquin valley are I,articularly clear-cut examples of this behavior with stevens zone wells being more adversely affected by fresh water. cores from these zones have been studied and are discussed. It appears that differences in this behavior can be ascribed to differences in the nature of the contained clays. The value of the infrarecl spectra of the clay fractions in establishing the identity of the predominant clay minerals is given particular emphasis. INTRODUCTION It is a challenge to the technical resources of the petroleum industry that when the economic limit of production is reached, from 40 to 70 per cent of the oil in California reservoirs remains unproduced even by use of the best presently known methods of recovery. The magnitude of this abandoned volume of oil can be appreciated when it is considered that to 1950 in excess of 8 billion bbll has been produced from California reservoirs with estimated economically recoverable reserves in known fields and pools totaling nearly 4 billion bbl.24 If for every barrel of oil produced there is at least another barrel still in place, it is evident that the revenue obtained from the recovery of only a .few per cent of this volume would repay the cost of the required research manyfold. From well completion experience. production behavior, and a growing body of laboratory data it now appears certain that the mineral composition of a producing stratum has an important bearing on the productivity and ultimate yield. In addition to the organic component and water, the cores con,ist of gravel, sand. silt, and clay" in diverse variety of (a, composition and (b) texture. It is the composite effect of these two factors which is probably responsible in large measure for the way in which the oil flows to the well. The role of the clay and fine-size accessory minerals is not clear but there is a growing opinion, based on their physical and chemical properties, that it is a significant one. of particular importance are the prime facts: 1. The silt and clay fractions of the reservoir matrix possess the highest surface area per gram, and 2. The silt and especially the clay fractions are the most chemically reactive of the inorganic constituents present. Only within the last few years has the knowledge of clay mineralogy and the techniques of identifying the clay minerals reached such a stage as to enable reliable inquiry into the composition of argillaceous sediments.2,8,10,11,12,16,26 It is the purpox of this and succeeding papers to add to the fund of information on the role which these materials play in the production of petroleum from California formations by correlating their presence and associated properties with observed reservoir behavior. In the present paper attention is directed to their possible influence on damage by fresh water. OBJECTIVES The attack on this problem divides naturally into two broad phases: 1. Determination of the nature of the clays and their relationships to the other mineral components, and 2. Determination of the physico-chemical relationships between the clays and the interstitial fluids. In the work described in this paper the emphasis has been on phase 1, which stems logically from the necessity of identifying and understanding the materials to be dealt with in Phase 2. Based on the authors' present opinion that not all of the minerals which occur in oil-bearing formation are of equal importance in their effects on the flow and recovery of oil, it was decided to focus attention first upon the clay minerals content and then. later perhaps. work into the field of the normally larger size non-clay minerals and fractions. The

Jan 1, 1951

By W. C. Merrill, P. G. Nahin, A. Grenall, R. S. Crog

A progress report of an experimental investigation into the role of clay in reservoir performance is presented. The Paper gives some of the reasons for considering clay as a significant component and outlines the objectives of a broad field of stud) which it is intended to pursue. Descriptions of the analytical methods used are given; these include X-ray diffraction. elec tron miscroscopy, thin section petrography, infrared spec-troscopy, and cation exchange analysis. A suite of the more important clay minerals has been assembled and characterized l~y these methods for use as standards in core analysis. From the data obtained it appears that although no one method of analysis is diagnostic for all of the clay minerals the infrared technique shows considerable promise in this direction. For the present, one or more supplementary methods should be used to confirm the clay mineral identifications. The methods of analysis are applied to field cores taken from repesentative and widely differing strata especially as regards their susceptibility to damage by fresh water. well.; completed in the stevens and Gatchell zones in San Joaquin valley are I,articularly clear-cut examples of this behavior with stevens zone wells being more adversely affected by fresh water. cores from these zones have been studied and are discussed. It appears that differences in this behavior can be ascribed to differences in the nature of the contained clays. The value of the infrarecl spectra of the clay fractions in establishing the identity of the predominant clay minerals is given particular emphasis. INTRODUCTION It is a challenge to the technical resources of the petroleum industry that when the economic limit of production is reached, from 40 to 70 per cent of the oil in California reservoirs remains unproduced even by use of the best presently known methods of recovery. The magnitude of this abandoned volume of oil can be appreciated when it is considered that to 1950 in excess of 8 billion bbll has been produced from California reservoirs with estimated economically recoverable reserves in known fields and pools totaling nearly 4 billion bbl.24 If for every barrel of oil produced there is at least another barrel still in place, it is evident that the revenue obtained from the recovery of only a .few per cent of this volume would repay the cost of the required research manyfold. From well completion experience. production behavior, and a growing body of laboratory data it now appears certain that the mineral composition of a producing stratum has an important bearing on the productivity and ultimate yield. In addition to the organic component and water, the cores con,ist of gravel, sand. silt, and clay" in diverse variety of (a, composition and (b) texture. It is the composite effect of these two factors which is probably responsible in large measure for the way in which the oil flows to the well. The role of the clay and fine-size accessory minerals is not clear but there is a growing opinion, based on their physical and chemical properties, that it is a significant one. of particular importance are the prime facts: 1. The silt and clay fractions of the reservoir matrix possess the highest surface area per gram, and 2. The silt and especially the clay fractions are the most chemically reactive of the inorganic constituents present. Only within the last few years has the knowledge of clay mineralogy and the techniques of identifying the clay minerals reached such a stage as to enable reliable inquiry into the composition of argillaceous sediments.2,8,10,11,12,16,26 It is the purpox of this and succeeding papers to add to the fund of information on the role which these materials play in the production of petroleum from California formations by correlating their presence and associated properties with observed reservoir behavior. In the present paper attention is directed to their possible influence on damage by fresh water. OBJECTIVES The attack on this problem divides naturally into two broad phases: 1. Determination of the nature of the clays and their relationships to the other mineral components, and 2. Determination of the physico-chemical relationships between the clays and the interstitial fluids. In the work described in this paper the emphasis has been on phase 1, which stems logically from the necessity of identifying and understanding the materials to be dealt with in Phase 2. Based on the authors' present opinion that not all of the minerals which occur in oil-bearing formation are of equal importance in their effects on the flow and recovery of oil, it was decided to focus attention first upon the clay minerals content and then. later perhaps. work into the field of the normally larger size non-clay minerals and fractions. The

Jan 1, 1951

By AIME AIME

FOR many years it has been the invariable custom of the Institute, in addition to its annual meeting in February, to hold a technical meeting in the fall in some mining or metallurgical center in the West. As the activities of the Institute have increased, and especially since the absorption 'of the American Institute of Metals, there have for a number of years been two fall meetings. Never before in the history of the Institute have there been three meetings in addition to the annual meeting in February; in 1920, however, three important fall meetings are to be held. The general Institute trip will be made this fall to the Lake Superior iron and copper country. Members will leave Buffalo on August 20 by steamer, visit the copper mines in and about Houghton, the iron mines of the Marquette and Iron Ranges of Michigan and the iron mines of the Mesabi Range in Minnesota, and' return to Buffalo by steamer on September 3. Technical sessions will be held at Houghton, Minneapolis and Duluth. For a long period it was customary for the Institute to visit the Lake Superior country about every seven years. This trip, however, will be the first visit since 1904. The unprecedented development in both copper and iron mining in this section during this period will make this trip of unusual importance. In addition, a notable series of papers will be presented.

Jan 1, 1920

AT the meeting of the Board of Directors in March 1945, plans were discussed for a special General Meeting to commemorate, in an appropriate way, the founding of the Institute at Wilkes-Barre, Pennsylvania, in 1871. It was decided that seventy-five years of growth, progress, and achievement; of service to the profession, to the mineral industry in all its branches, and to society at large should be fittingly celebrated. Harvey S. Mudd, then President of the Institute, was authorized to appoint a General Committee on Arrangements as well as necessary working committees. On June 6, 1946, Louis S. Cates, as President, at a special meeting of the Pennsylvania-Anthracite Section at Wilkes-Barre, officially announced plans or a three-day meeting to be held at The Waldorf-Astoria, in New York City, September 16-18, 1946. Four major sessions to be addressed by eminent speakers had been-planned in some detail to constitute a "World Conference on Mineral Resources." The U. S. Department of State had dispatched a 1500-word airgram to all its diplomatic posts giving worldwide publicity to the scope and importance of the meeting; and formal invitations had been issued to more than 150 institutions in 40 foreign countries to send official delegates. These included scientific and engineering societies, educational institutions, and sundry government agencies connected with the mineral industry. However, about a month later it was found necessary to postpone the celebration. The reason was an unforeseen expansion in the requirements of the United Nations for hotel living space in New York to accommodate delegates to the meeting scheduled to start September 3; and, of course, U.N. delegates would be given priority. It was decided to postpone the Celebration-conference to the week beginning March 17, 1947; t6 devote the first three days primarily to the Celebration; and to follow it with the technical sessions, committee meetings, and other functions, that are regular features of the Annual Meeting. To accommodate the combined "show" it would be necessary to hold some of the Annual Meeting sessions at another hotel;

Jan 1, 1947

By AIME AIME

APROXIMATELY one third of the world's iron ore is mined in the United States; and about 80 per cent of this third is mined in the Lake Superior ore region, and about 60 per cent in Minnesota. The Lake Superior iron ore region covers a vast area in the vicinity of Lake Superior that contained in early geological times large areas of iron-bearing sediments, which today form metamorphosed iron-bearing rocks, such as jasper, chert, taconite, and slates. Concentration of the iron content chiefly through solution and resultant removal of silica produced the ore bodies we find today in rock folds as on the Menominee range, at dike or impervious wall intersections such as on the Gogebic range, and blanket-type enriched ore bodies ly¬ing on or within the ore formation, such as occur on the Mesabi and in steeply pitching ore lenses elsewhere. In many places, folding and subsequent erosion of the tops of the folded areas has resulted in steep dips in the ore formation and contained ore bodies. The upper eroded edges are mostly buried under glacial over-burden. The slightly dipping Mesabi formation is the principal exception as to steeply dipping ore bodies.

Jan 1, 1941

By T. B. Counselman

"C" VERYONE who has to calculate cyanide circuits, -¦-' using either thickeners, filters or both, realizes the headaches involved in solving a set of simultaneous equations. When you calculate a large number of these, based on experimental data, trying to arrive at the best flowsheet, you can spend days at the task. T. B. COUNSELMAN, Member AIME, is Manager, FluoSolids Division, The Dorr CO., Stamford, Conn. AIME New York Meeting, Feb. 1950. TP 2783 B. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Aug. 23, 1949. Herewith is presented a short method, equally accurate with the standard simultaneous equation method, and much quicker. Here for instance is the standard simultaneous equation method, for 100 tons per day of $10 ore, with the conditions assumed as below (fig. 1). Conditions Assumed a. 100 tons of ore per day crushed in cyanide solution. b. Discharge from all thickeners with 50 pct moisture. c. $10 value dissolved per ton of ore. d. 50 pct in mill and 50 pct in agitators. e. 400 tons of solution from thickener V precipitated to $0.02. f. Agitation with a dilution of 2 of solution to 1 of solids. g. Let V, W, X, Y and Z represent value in dollars per ton of solution discharged from the resvective thickeners. Equating Out of and Into Each Thickener 1. lOOVplus 400V = 500W plus (0.50 X $10 X 100) 2. 1OOWplus 600W= 500X plus lOOW plus (0.50 X $10 X 100) plus lOOV 3. lOOXplus 500X = 1OOWplus 500Y 4. 1OOY plus 500Y = 1002 plus 1OOX plus (400 X 0.02) 5. 100 Zplus l00Z = l00Y plus 100 tons of water (value $0.00) Simplifying: 1. v = W plus 1.00 2. W = X plus 1.20 3. X = Y plus 0.24 4. Y = 0.2Zvlus 0.064 5. 2Z= Y

Jan 1, 1951

By T. B. Counselman

"C" VERYONE who has to calculate cyanide circuits, -¦-' using either thickeners, filters or both, realizes the headaches involved in solving a set of simultaneous equations. When you calculate a large number of these, based on experimental data, trying to arrive at the best flowsheet, you can spend days at the task. T. B. COUNSELMAN, Member AIME, is Manager, FluoSolids Division, The Dorr CO., Stamford, Conn. AIME New York Meeting, Feb. 1950. TP 2783 B. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Aug. 23, 1949. Herewith is presented a short method, equally accurate with the standard simultaneous equation method, and much quicker. Here for instance is the standard simultaneous equation method, for 100 tons per day of $10 ore, with the conditions assumed as below (fig. 1). Conditions Assumed a. 100 tons of ore per day crushed in cyanide solution. b. Discharge from all thickeners with 50 pct moisture. c. $10 value dissolved per ton of ore. d. 50 pct in mill and 50 pct in agitators. e. 400 tons of solution from thickener V precipitated to $0.02. f. Agitation with a dilution of 2 of solution to 1 of solids. g. Let V, W, X, Y and Z represent value in dollars per ton of solution discharged from the resvective thickeners. Equating Out of and Into Each Thickener 1. lOOVplus 400V = 500W plus (0.50 X $10 X 100) 2. 1OOWplus 600W= 500X plus lOOW plus (0.50 X $10 X 100) plus lOOV 3. lOOXplus 500X = 1OOWplus 500Y 4. 1OOY plus 500Y = 1002 plus 1OOX plus (400 X 0.02) 5. 100 Zplus l00Z = l00Y plus 100 tons of water (value $0.00) Simplifying: 1. v = W plus 1.00 2. W = X plus 1.20 3. X = Y plus 0.24 4. Y = 0.2Zvlus 0.064 5. 2Z= Y

Jan 1, 1951

By Joseph E. Pogue

FOR a number of years the petroleum department of The Chase National Bank has been making a continuing study of the financial aspects of thirty oil companies. (See Pogue and Coqueron, "Financial Analysis of Thirty Oil Companies," pamphlet, The Chase National Bank, November 1945, for data covering eleven years, 1934-1944, and the list of the companies making up the group. See also "Capital Employed in the Petroleum Industry," by the same authors, M&M, November 1944.1 This group represents a large sample of theAmerican petroleum industry, covering about two thirds of the business. Certain aspects of this study concern the capital employed in crude oil production, the main features of which arc presented in this paper.

Jan 1, 1946

By W. D. BRENNAN

FOR a considerable number of years past, there has been a shortage of experienced coal miners at the coal mine of the Phelps-Dodge Corp. This is probably due, to some extent, to the mines being so far south of the main western coal producing regions, so that experienced men secure employment before reaching this point. These mines are at Dawson, New Mexico, which is in Colfax County, near the Colorado line. The district is known as the Raton field, and the seam being worked is known as the Raton or Blossburg seam. The mines operated are Nos. 1 to 6, 8 and 9. The daily out- put at the present time, with restricted operations, is about 4000 tons, but the daily capacity is about 5500 tons. The mines are so grouped that the coal is dumped over four tipples. The mines are about twenty-five years old and extend as much as three miles under ground; they are all drift openings, with trolley, storage battery, and mule haulage. At the same time that the shortage of miners existed there was a surplus of common labor seeking employment. We learned that the Copper Queen. Branch of Phelps Dodge Corp. conducted a training school in one of its mines which had worked out very satisfactorily, and thus gained the idea of attempting such a school in the coal mines at Dawson.

Jan 1, 1929

By W. Bonfield

A study has been made of the dislocation substructures produced in hot-pressed beryllium specimens strained to various levels in the range from 800 x 10-6 In. pev in. to fracture. A number of distinctive dislocation configurations were observed in this region which had not been noted at lower levels of strain. These included dislocation-dislocation interactions to form networks, dislocation "walls", subgrain boundaries and complex arrays, interactions between dislocations and large beryllium oxide particles, and the generation of dislocations from certain particles. The nature of these differences in substructure and their relation to the stress-strain characteristics of polycrystalline beryllium are discussed. In a previous study1 of the plasticity of commercial-purity, hot-pressed beryllium a transition was found in the deformation characteristics in the mi-crostrain region. The initial plastic deformation could be represented by a parabolic stress-strain equation, but above a critical stress there was a complete departure from this relation and a reduction in the strain-hardening rate. The dislocation configurations produced by various levels of micro-strain in this region were examined by transmission electron microscopy and a general correlation was established between the observed transition in deformation characteristics and the dislocation structure of the material. The two stages in the micro-strain region distinguished in these experiments were designated as Stage A' and Stage B'. Stage A' type deformation generally was noted up to a plastic strain of -80 x 10"6 in. per in. and Stage B' type from -80 x 10-6 to -800 x 10'6 in. per in. The discovery of two stages in the microstrain region naturally posed pertinent questions as to the existence of any further distinct stages in the subsequent plastic deformation. The purpose of this paper is to present a study of the dislocation configurations produced in similar beryllium specimens strained to various levels in the range from -800 x 10 in. per in. to fracture and to discuss the relation between substructure and the stress-strain characteristics. It is concluded that this region of strain can be considered as a distinct stage in the plastic deformation of polycrystalline beryllium. Tensile specimens of gage length 1 in. and cross section 0.18 by 0.06 in. were prepared from commercial-purity, hot-pressed QMV beryllium and then annealed at 1100°C for 2 hr. 2 followed by a careful chemical polishing procedure.3 The specimens were strained at a constant rate to various levels of strain in the range from -800 x 10-6 in. per in. to fracture (at 0.5 to 2 pct elongation), using the Tuckerman strain-gage technique1 to measure plastic and total strain. Thin foils were obtained from the strained and fractured specimens by chemical polishing3 and were examined using an RCA-EMU 3 electron microscope. Considerable care waS taken to avoid both accidental deformation during the preparation of the thin foils and excessive heating during their examination. Selected-area diffraction patterns were determined for each micrograph. Tilting experiments were also performed whenever appropriate to establish the dislocation zero-contrast position and hence determine the Burgers vector. This operation was sometimes not possible due to the rapid contamination of the foils which occurred in the electron microscope. RESULTS AND DISCUSSION To enable the distinctions between the dislocation arrays at high and low strain levels to be adequately made, the main characteristics of Stage A' and Stage B' deformation are briefly reviewed. 1) Stage A'. In the annealed starting condition there was a variable density (5 x 107 to 3 x 10' cm per cu cm) of isolated dislocations within a grain. The initial deformation in a tensile specimen was heterogeneous, with the dislocation density increasing in a few grains to 5 x 10g to 1.5 x 101° cm per cu cm. The deformation occurred exclusively on the basal plane by the movement of one or more 1/3 (1130) type dislocation systems. The dislocations were long and regular in form and nearly all the intersections exhibited a simple four-point node configuration. No interactions between glide dislocations and beryllium oxide particles were observed. 2) Stage B. In Stage B' there was a large increase in the number of grains exhibiting dislocation movement and also a change in the nature of the deformation, in which jogged dislocations and elongated loops became the characteristic feature. The splitting up of the elongated loops into smaller loops and the possibility of source action from the re-

Jan 1, 1965

By Wayne A. Greenwalt

A method that determines venture participation when the decision maker's level of risk aversion varies according to venture profitability and risk investment is presented. The decision maker's fundamental aversion to risk is established by the selection of a desired working interest for a venture that anticipates only a discounted payout.

Jan 1, 1982

By George C. Bateman

I HAVE been introduced in the dual capacity of president of the Canadian Institute and Metals Controller for Canada. There are three particular points of similarity between these two positions. They are both temporary ; they both have to do with the mining industry ; and by a peculiar coincidence they both pay me exactly the same salary. It is difficult to appreciate the background of our present situation without knowing the really tremendous changes that have taken place since the last war. I sometimes think that even among ourselves we are likely to forget the extent to which our great mining industry has been expanded. In 1914 Canada's gold production amounted to only $16,000,000 and the suggestion was seriously ad¬vanced in Ottawa that the gold mines should be allowed to close down so that their men might be used in more important work. Today with a production at the rate of over $200,000,000 a year no one in Canada would venture such a suggestion because the output of our gold mines is the greatest single factor in producing dollar exchange, badly needed for the purchase of munitions and to maintain Canada's unbroken record of always meeting its obligations. Even with the severe restrictions now in effect against the importation of nonessentials, our imports for war purposes from the United States are resulting in the biggest adverse trade balance in our history. With us, gold mining ranks as an essential industry.

Jan 1, 1941

By Donald H. McLaughlin

THE activity and enthusiasm of pioneers still prevail among workers in applied geophysics1.- Within the year, new devices have .been tried out, instruments and technique have been improved and the methods of application to commercial problems have been increased in many ingenious ways. There is still great need for more skillful interpretation of results in terms of geology, but oil the whole geophysical prospecting is making encouraging progress toward finding its proper place and function in engineering and geological practice. Spectacular successes continue to be reported, particularly .from the Gulf Coast, where the race for salt domes has not slackened, and encouraging results have been giined elsewhere in the mapping of structures in the search for oil. In the mining field, however, it can hardly be claimed that the same measure of success has been obtained, for brilliant efforts worthy of wide recognition have been overshadowed to some eatent by the unfortunate outcome of surveys undertaken unwisely without recognition of the limitations of the work. Consequently, hopes were aroused that could not be fulfilled, and it must be admitted in an impartial survey that there are a few regions, chiefly in the far north, where the standing of geophysical prospecting is somewhat doubtful and where the course of public opinion regarding it shows a certain similarity to the history of the market during the past few months. Reliable work, however, is steadily going 011 and it can confidently be expected that the methods will eventually be regarded in many regions as an essential part of the technique of securing geologic data needed for intelligent exploration.

Jan 1, 1930

By George A. Miller

OIL, the abundance of it in the hands of the Allies and the lack of it in the hands of the Axis, played a major role in winning World War II. It bids fair to implement the winning of the peace. In fact the signing of the revised agreement on petroleum between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the United States of America on Sept. 24, 1945, may be considered as the first step in establishing a new pattern in foreign relations by our Government. The significance of this agreement on petroleum is that it was arrived at on the part of the United States of America through the advice and consent of the most interested parties, the leaders of the petroleum industry and the Government, distinctly a first step toward unifying the power of business and the strength of the Government, which places us on a par with the British Crown which has always had the advice and counsel of its business leaders in formulating its foreign trade policies. And what is the thing so patently discernible in this new first step toward winning the peace? It is that the petroleum agreement, the first draft of which, signed in Washington on Aug. 8, 1944, almost caused an epidemic of apoplexy among the leaders of the oil industry, represents the desire of the people most concerned with the problems of petroleum both at home and abroad. This new agreement, which will come up before the Senate for ratification this month-hearings will commence in January - derives its "power from the consent of the governed," something about which our forefathers were vitally concerned once upon a time.

Jan 1, 1946