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By H. O. Hofman

At the Lake Superior meeting, September, 1904, Messrs. A. Gibb and R. C. Philp presented a paper entitled " The Constitution of Mattes Produced in Copper-Smelting,"' in which they concluded that ferrous and cuprous sulphides formed the chemical compound, 5 Cu2S, FeS. They arrived at this inference from the observed fact that a matte containing Cu,S, 90.4, and FcS, 9.6 per cent. (or, in round figures, Cu2S, 90, and FeS, 10 per cent.), did not contain any metallic copper, while one with more than 10 per cent. of FeS readily dissolved copper, and with less than this amount retained copper in mechanical suspension. Although they determined the melting-points of five mattes containing from 32.6 to 80.1 per cent. of copper, they did not draw a freezing-point curve, as the necessary apparatus was not available. A microscopical examination of 11 polished samples gave them a grayish-black field of very uniform appearance, except that five of the specimens showed the presence of metallic copper. The object of the present investigation was to supplement the above paper by drawing the freezing-point curve of the ferrous sulphide-cuprous sulphide series, and to see how the constitution could be further revealed by microscopical work. The results obtained lead to conclusions very different from those of Gibb and Philp. While their paper bears the date 1904, it was published only in 1906.2 In the meantime, Bolles3 had presented his paper, " The Concentration of Gold and Silver in Iron-Bottoms." The raw material which formed the basis of the research was a matte containing Fe, 61.68, and Cu, 11.20

Jan 1, 1908

Pulverized Fuel Combustion The apparatus shown in the illustration is a complete equipment f r supplying coal to boiler and metallurgical furnaces, cement and lime kilns, dryers, and to all furnaces requiring a temperature and quality of fame under prompt and easy control. It is claimed that the Aero Pulverizer makes practicable the highest efficiency obtainable from burning coal. It makes coal burn like a gas, a flame, the physical and chemical character of which is regulable- a flame that may be elongated or shortened, thus placing the zone of highest temperature where needed- a flame that may be made oxidizing, reducing, or neutral, as occasion may require. The coal is burned as pulverized, and there is no storage of the powder with its attendant hazard. Artificial drying before pulverizing is not necessary if the coal supply be sheltered from rain and snow. Where the Aero is used, it is wholly a furnace question whether a dryer should be installed; it is not at all a pulverizing or storage question. Labor is reduced to a minimum. Slack coal at low cost yields its last B.T.U.

Jan 11, 1915

By AIME AIME

FRIEND recently remarked that the career of Scott Turner is characterized by Work and Wild -A Ducks. To these might be added Accomplishment and Persistent Fishing. All of these elements are manifestations of his character. The diversions-hunting and fishing-are in the nature of the proverbial trolley conductor's holiday, for many of Turner's years have been spent in the outdoors, often in distant lands, as in Spitzbergen, where the ducks pictured below were bagged. The election of Scott Turner to the presidency of the Institute marks the culmination of a quarter century of membership, during the last two years of which he has been vice-president. He was born at Lansing, Mich., on July 31, 1880, and received his A.B. at the University of Michigan in 1902, with a B.S. and E.M. at the Michigan College of Mines in 1904. Since then he has been granted two honorary degrees, D.Sc. from the Colorado School of Mines, and D.Eng. from the University of Michigan, but he still prefers to be called "Scott" rather than "Doctor." Government service was not a new experience for Turner when he was appointed Director of the U. S. Bureau of Mines by Secretary Hoover in 1925, for his first employment after graduation was as Field Assistant in the U. S. Geological Survey in Oregon and Idaho. This was followed by work in Tombstone, Ariz.; then his first foreign engagement in 1905-6 as superintendent of the San Pablo Gold Mining Co. in Panama. Various field experiences followed, though there was an interlude in work of a kind that few mining engineers ever experience. This was in technical journalism, for in 1906 he was

Jan 1, 1932

By R. P. Harvey, J. E. Walstrom, A. A. Brown

In view of the large number of wells directionally drilled from offshore platforms and urban drillsites, greater interest is being focused on the directional survey and on the uncertainty inherent in calculating the position of the bottom of the hole, or other benchmarks in the wellbore. Of the two methods presented here for evaluating this uncertainty, the first is analytical and uses the principles of probability and statistics. The second method uses Monte Carlo simulation to generate a pattern of the scatter of possible bottom-hole locations. Both methods are based on a model for which the usual assumption is made that the curvilinear axis of the wellbore is adequately represented by a large number, M, of linear segments joined end to end from the top to the bottom of the hole and closely following the course of the hole. The errors due to this approximation are assumed to be negligible and are not studied here. One form of the model is to consider that for a given hole there exists a perfect set of data describing it, of the above form. Each linear segment has an angle of inclination with the vertical 7, in radians, an azimuthal angle from true north xi in radians, and a length Si, in feet. The subscript variable, i, extends from 1 to M. Each of the M linear segments representing the axis of the wellbore has three components in the X, Y, and Z directions. These components are calculated from the equations: The bottom-hole coordinates as determined from the reference set of data for the wellbore are given by the following for i = 1 to M: X=SX, Y = Sy, Z=SZ; . (2) A directional survey instrument, lowered into the wellbore to the M segments, or stations, measures the values of the 7; and the 3,. In general, because of errors from various sources, the resulting angular measurements will not be precisely equal to the 7" and xi. Random variables l, and Ai are therefore considered with associated probability density functions fi(li) and gi(Ai), respectively, which represent the distributions of potential survey measurements for this hole. Since it is assumed that the values Si are accurately measured they are treated deterministically. The random variables corresponding to the surveyed bottom-hole coordinates are given, for i = 1 to M, by:

Jan 1, 1970

IN accordance with a programme arranged by a committee of the Institute, consisting of Mr. William P. Shinn, of St. Louis, chairman, and Mr. Joseph D. Weeks, of Pittsburgh, secretary, the member's of the Institute, with their ladies and invited guests, assembled in Chicago on Sunday morning, August 22d. A special train, provided by the Chicago and Northwestern Railway,. left Chicago on Monday morning at 7.50 o'clock, and conveyed the party to Marquette, arriving at 9 o'clock P.M. Here the steamer Northern Queen, which had been chartered by the committee for the accommodation of the Institute, was in waiting, and the members and ladies at once took up their quarters on the boat. EXCURSIONS IN THE MARQUETTE IRON REGION. Local Committee. EXECUTIVE. -J. C. Morse, chairman; C. Y. Osburn, secretary ; D. F. Wadsworth, treasurer; C. H. Hall, H. Merry. RECEPTION.-S. P. Ely, J. P. Pendill, E. Breitung, W. F. Swift, A. P. Swineford, J. C. Fowle, C. G. Griffey. TRANSPORTATION.-Samuel Schoch, D. Morgan, D. H.. Merritt, J. Pickands. FINANCE.-Peter White, A. W. Maitland, W D. Rees, E. R. Hall. EXCURSIONS.-W. E. Dickinson, H. A. Burt, A.. Kidder, C. E. Wright. REFRESHMENTS.-J. Q. Adams, H. H. Stafford, Joseph Kirkpatrick, D. H. Bacon. On Tuesday the iron mines in the vicinity of Negaunee and Ishpeming were visited, transportation being provided by special trains on the Marquette, Houghton and Ontonagon Railroad. In the morning the McComber, South Jackson, and Jackson mines were inspected, and in the afternoon the Cleveland, New York, Lake Superior, and Barnum mines. Dinner was provided at Negaunee, and gracefully served by, the ladies of the town. In the evening the first session of the Institute was held in the saloon of the steamer. The President, William P. Shinn, of St. Louis, congratulated the Institute on the happy consummation of the wishes of its members to have a meeting on Lake Superior. After tedious and baffling negotiations arrangements had been com-

Jan 1, 1881

By L. F. Elkins

Water coming into wells with bottom water present in the Fosterton field, when their oil recovery was only 0.1 to 1.5 per cent of oil in place below the lowest perforation, confirms lack of shale barriers to vertical flow which also are not apparent in cores and electric logy. Low contrast of vertical and horizontal permeability, high mobility ratio betweerz oil and water zone and pos.rible rate effects due to gravity Combine to prevent easy analysis of water invasion pattern and efficiency by analogy or intuition. Theoretical analysis of performance including these factors using a new direct nurnerical .solution of potential distribution in a network led to unanticapted indications that water would under-run the entire oil reservoir with low volumetric coverage if supplied through natural influx or peripheral water injecfion below the oil-water contact. An unusual pattern of water injection is to he adopted in this recently unitized pool to provide more uniform water flooding in that two-thirds of the oil reservoir not underlain by bottom wafer. INTRODUCTION The Fosterton field, Southwestern Saskatchewan, Canada, was discovered in Jan., 1952. It produces at a depth of 3,100 ft from a pinch-out of the Roseray sand at the Lower Cretaceous-Jurassic unconformity. The field, covering 2,500 acres, contains 54 wells on 40-acre spacing. Development was essentially complete in June, 1954, but significant production did not start until May, 1955, when a pipeline outlet became available. Within one year rapid in- creases in gas-oil ratio and early encroachment of water created operating problems in the down-structure eastern half of the field and raised serious questions about reservoir performance and ultimate recovery. This paper describes the unusual behavior of water encroachment—on both well and reservoir bases—and the analyses made to interpret it. The field was unitized July 1, 1958, for water flooding. A somewhat unconventional

By H. D. Mellom

The direction of the optic or "C" axis of a uniaxial metal crystal can be found with the metallurgical polarizing microscope by examining two planes of section on the crystal. Complete orientation of the crystal can be determined if a twin crystal is common to both surfaces of section. Examination of Uniaxial Metals in Polarized Light-Rotation of a uniaxial crystal surface, properly prepared,' shows four extinction positions 90 deg apart, provided that the surface is not close to a basal section. One of these two extinction directions corresponds with the projection of the optic axis on the surface of section. This direction can be found if the 'sign of the rotationr2 for the metal is known. To find the direction of the optic axis, the crystal is rotated on the stage 45 deg from an extinction position. With a crystal of negative sign, to produce extinction the analyser must be rotated towards the optic axial direction and vice versa. All sections, other than basal, of a uniaxial crystal have the same sign of rotation and, since there is no change in sign with wave length, white light can be used for these measurements. U the sign of the rotation is not known the presumed direction of the optic axis can be determined assuming a positive sign. A third section cut normal to the presumed optic axis will show basal extinction if the assumption is correct. It is convenient to use the edge between the two planes of section as a fiducial direction common to both surfaces. The optic axis can be related to this direction. If the above measurements are repeated on the other plane of section and the angle between the two section planes measured, stereographic projection can be used to determine the orientation of the crystal optic axis. Determination of Complete Orientation—The complete orientation of a uniaxial crystal can be determined provided that a twin crystal is common to both surfaces of section, and the twin law is known. The orientation of the twin crystal optic axis can be determined in the same way as for the main crystal

Jan 1, 1962

By E. J. Roberts

Hydrometallurgical operations and many processes in the chemical industry require the separation of dissolved material from solids. One of the decisions which has to be made in designing a plant for such an operation is how this separation shall be accomplished. It is the purpose of this paper to set forth the general principles involved in such separations in order that the optimum flowsheet and equipment may be selected. Countercurrent Decantation with thickeners, or C.C.D. as it is generally known, is, of course, only one way of separating dissolved material from undis-solved. Other unit operations such as Countercurrent Filtration (C.C.F.) and Countercurrent Classification (C.C.C.) are widely used. The same principles may also be applied to centrifugally assisted decantation, as with nozzle or solid bowl type centrifugals, and to separations using screens, either gravity or centrifugal type. Another form of countercurrent washing applicable to granular materials is practiced in continuous ion exchange operations. All of these operations depend on two basic principles, or combinations of these principles. In C.C.D. type operations the solids are concentrated into the smallest possible volume of liquor in each step and the resulting pulp then mixed with a more dilute liquor and recon cen trated, the liquors separated from the more dilute stages being advanced to dilute the more concentrated liquor in a previous solids concentrate, as is shown in Fig. I. This will be termed the solids concentration-solution dilution principle, or, for short, solution dilution. countercurrent decantation- type circuits. The second principle used in washing solubles from solids is that of solids concentration-solution displacement. Here the solids are restrained from movement while wash solution is forced through the interstices in a counter-current fashion, as in Fig. 2. In the simplest application of this principle, once the "cake" has been formed, it is not disturbed until the operation is completed. In continuous filters, the cake is merely moved under the successive washes and the displaced filtrates removed as in Fig. 4. Often, however, after one or two displacement washes, a repulping step is introduced, the cake reformed and washed again. This procedure brings the solution dilution principle into play as well as the solution displacement principle. Merely thickening ahead of filtration, which is often operationally advantageous, does not hybridize he circuit. It still can be a pure solution displacement operation from the washing

Jan 1, 1961

By . M. Muskat

A THEORETICAL consideration of the mechanics of various water-flooding systems with the viewpoint of comparing their relative merits involves the study of two fundamental properties of such systems. On the one hand, it is important to determine the efficiency of the flood as measured by the percentage of the total area that is swept out by the encroaching water before water actually reaches the output wells. This is really a measure of the regional tendency of the water to "bypass" the oil. On the other hand, the various systems must be compared from the viewpoint of their resistances which determine the rate of fluid production obtainable for given pressures maintained at the water input wells. The first of these questions has been studied and very definite answers have been obtained by means of simple electrolytic models.1 These models showed that, in an ideal system, the percentages of the areas flooded out before water reaches the output wells are about 57 per cent for the direct line-drive flood (the input and output wells being equally spaced and placed in alternate parallel lines), 74 per cent for the regular five-spot network, and 79 per cent for the seven-spot network. With respect to the efficiency of the usual flooding arrangements, they are, therefore, given quite accurately by the above numbers. With regard to the resistances of the flooding networks, electrical conduction models have also been used successfully2 and are well adapted to the problem of determining experimentally the pressure distribution and streamlines, or over-all resistances of specific flooding networks. However, such models do not permit readily a study of the effect of changing dimensions or configuration within a network, since a new model must be made up for each set of dimensions considered.

Jan 1, 1933

By R. W. Stahl

Employees and dollars are necessary to all enterprises and any force, such as fire, which destroys either, can bring very serious consequences, including business failure. Since everyone acknowledges the necessity of conserving human life, we will devote most of our paper to the economic factors involved. A coal-mine fire is considerably more difficult to combat than a fire in a surface building because of the combustible surroundings in the mine, the explosive gases emitted from the coal, the suspension of explosive dust when mine timbers burn and the unsupported roof falls, the limited space in which approach to the fire can be made, and the limited avenues of escape. A survey of coal-mine-fire protection indicated that a rather low value was being placed on property and equipment. This prompted comparison with other industries. The comments made in this comparison are not intended as an indictment of the coal industry, since we do have mines that are well protected against fire, but the comments on conditions at the mines visited are factual and may help others to improve similar conditions. SURVEY PROCEDURES Plants of the steel, aluminum, rubber, chemical, and petroleum industries were surveyed, and all facets of the fire-protection scheme were covered. The industrial plant invariably had four times as much water readily available for instant use than the mine. In many mines where water is available, no equipment for applying it is provided, such as hose, nozzles, and adapters, so that time is lost in collecting this equipment. (See Table I.) EXTINGUISHERS Many more and generally larger portable extinpishers are available at the plant as compared to the mine. The extinguishers are generally placed nearer to sources of danger. In addition, respiratory protective equipment is always available at strategic points in plants but only in a few mines. (See Figs. 1 and Table 11) INSPECTING AND TESTING EQUIPMENT Plant water facilities are checked weekly and flushed at 6-month intervals, and hose is pressure-tested at least yearly; some mines check water yearly, but hose is not tested unless used. Fire extinguishers are inspected weekly in plants and completely overhauled yearly; one mine had monthly checks and overhauls only after use. FIRE BRIGADES AND TRAINING Every plant had designated fire-fighters and some complete full-time brigades; at one mine a chief mechanic was designated as being in charge of fires, and other depended entirely upon officials who might not be familiar with the equipment. COST OF FIRES AND PERCENTAGE OF CAPITAL INVESTMENT IN FIRE PROTECTION The direct cost of recent mine fires ranged from $128,000 to $240,000; indirect costs, such as lost tonnage, idled equipment, lost orders, and the like might run the cost to over $500,000. (See Figs. 2 and 3).

Jan 1, 1961

By W. R. Clark, W. W. Cotter

Jan 1, 1946

By W. W. Cotter, W. R. Clark

Jan 1, 1946

By Gordon H. Geiger, J. Bruce Wagner

Electrical conductavity and therrnoelectvic nzeasuretnents on synthetic hematite slabs with 0.01 to 0.90 at. pet Ti and with 0.30 at. pet Ca were made. Additions of titanium and of calcium both increased the electronic conductivity with titanium yielding greater n-type behavior and calciurn p-type behavior. Reduction studies of hematite to magnetite in CO-CO2 atmospheres between 600° and 900°C initially exhibited linear kinetics. These linear rates were increased by additions of titanium and decreased by calcium. IN recent years many studies have been reported in the literature on the kinetics of the reduction of hematite and magnetite to iron. In addition, Hansen and Josephl and Schenck and Schultz2 have reported studies on the reduction of hematite to magnetite, the first step in total reduction to iron. In order to evaluate the results of the studies of over-all reduction in terms of the actual mechanism of the reaction and to define further the important factors in the rate- controlling mechanism of the magnetic roasting reaction, the following experiments were undertaken. Specimens of undoped hematite and hematite containing titanium or calcium in solution as doping agents were reduced to magnetite in CO-CO2 mixtures. In addition, electrical-conductivity measurements were correlated with the reduction kinetics using concepts of defect solid-state chemistry. EXPERIMENTAL Fisher certified Fe2O3 powder was used to make specimens for both the electrical and kinetic studies (see Table I for analysis). Doping with titanium and calcium was accomplished by adding TiO2 and CaO powders to the Fe2O3 powder. The powders were mixed in a Waring blender for minimum times of 1/2 hr. Satisfactory blending was achieved based on comparison of analyses of individual specimens af- ter reduction. The specimens were formed in a steel die using opposed punches with a rectangular opening 10.0 by 40.0 mm. The Fe2O3-TiO, platelets were pressed cold at 16,000 psi. They were sintered for approximately 16 hr at 1075°C in air, in accordance with information in the literature3, 4 on the time and temperature needed to obtain solution of the titanium in the hematite. The Fe2O3-CaO mixtures were first cold-pressed at 20,000 psi and sintered for 3 hr at 1225°C to insure solution of CaO. This material was then ground to -325 mesh in a 6-in. ball mill and the resulting powder was used to make platelets in the same manner as above. The sintered platelets were usually between 1/16 and 1/8 in. thick. They were ground on a carborundum wheel and polished on 2/0 paper. Typical dimensions of the kinetic-study specimens were 1.6 by 0.8 by 0.05 cm, and a typical weight was 0.3 g. Conductivity and thermoelectric specimens were approximately the same size, but were subjected to further sintering in order to ensure maximum densification. Finally, all specimens were measured to the nearest 0.0005 in. and weighed on a Mettler H-15 balance to the nearest 0.0001 g and the density calculated. The average density of the specimens used for the reduction studies was 4.87 g per cc, or 7.1 pet total porosity. The standard deviation ranged from 0.14 to 0.063 g per cc within a composition group. In the present study, the apparent surface area as measured with a micrometer was taken as the true surface area. The chemical analyses for calcium and for titanium within a group showed maximum variations of 50.04 pet from the average values used in Figs. 9 and 11. In order to suspend the specimen from the balance for the kinetic studies, a hole, 0.03 in. in

Jan 1, 1965

Jan 1, 1959

By Robert Bakish, William D. Robertson

AFTER more than fifty years of investigation and continuing failure in service, a satisfactory mechanism to explain stress corrosion cracking in homogeneous alloys is still lacking. The relative chemical activity of grain boundaries and adjacent grains, inferred from the boundary structure, has been used to explain intergranular cracking in a brass.' This concept is probably correct as a general hypothesis, but it requires much more extensive development in order to explain satisfactorily the observed phenomena. For example, the specific function of the solute in an alloy must be considered, because intergranular failure does not occur in pure metals,' which are structurally similar to homogeneous alloys. Also, in this connection, an inter crystalline fracture path in binary copper alloys can be changed to a transcrystalline path by relatively small ternary additions.' The fracture path in ß brass is predominantly transcrystalline,' in contrast with an inter crystalline path in a brass. Whether the two different fracture paths are the result of a difference in composition, crystal structure, or the state of long range order is unknown and cannot be determined with ß brass, because only the ordered state can be obtained at room temperature. The study of chemical activity at structural sites in the Cu-Zn system is restricted by the formation of opaque films in an ammonia environment in which stress corrosion cracking is generally observed. Furthermore, both components of the alloy are chemically active and the interpretation of observations is therefore relatively complicated. The Cu-Au system is a better choice for the purpose of studying structural factors. In particular, CuAu is very susceptible to cracking in ferric chloride and opaque films are not formed in this solution; it may be obtained in different states of long and short range order; and, finally, only copper is oxidized in dilute ferric chloride, which considerably simplifies the chemical problem. To provide information necessary for a more general explanation of stress corrosion cracking in homogeneous solid solutions, the following structural factors have been investigated in a Cu-Au alloy having a composition corresponding to Cu,Au: 1) the effect of long and short range order; 2) the structural sites from which copper is removed from the annealed and cold worked polycrystalline alloy; and 3) the effect of annealing time and temperature on structural reactions in the cold worked alloy. Experimental Procedure A Cu-Au alloy of nominal Cu3Au composition was cast from cathode copper and high purity gold and fabricated into sheet and wire. Chemical analysis for copper and gold indicated 48.92 wt pct Cu and 51.01 pct Au. Quantitative spectrographic analysis indicated 0.01 pct Ag, 0.002 pct Pd, 0.001 pct Pb, and 0.002 pct Fe, with traces of magnesium, silicon, and zinc. Presumably most of the remaining 0.055 pct corresponds to the limits of analytical precision. Heat treatments of wire and sheet were conducted in argon or vacuum. Wire specimens, 0.064 in. diam, were heated for 1 hr at 850 °C to establish a definite

Jan 1, 1957

By Francis Foley

INTRODUCTION DURING the summer of 1919, the late Dr. Henry M. Howe, then Chairman of the Division of Engineering of the National Research Council, organized a committee to obtain a better insight into the behavior of carbon steels under the influence of various treatments by a proper control of the time and temperature factors. During part of 1919 and 1920, work in connection with this investigation was carried on at Dr: Howe's laboratory at Bedford Hills, N. Y. During 1921 there was an enforced hiatus in the work, occasioned by the illness which resulted in Dr. Howe's death in 1922. At that time one of the present authors compiled the results of the work which had been done and this was published in 1923.1 Following the publication of this work, it seemed desirable to carry on in the same manner an investigation of steel of C 0.75 per cent., which steel had not been as fully treated as had the other steels of C 0.34 and 0.52 per cent., used in the published work. Furthermore, certain unusual results have been obtained in the treatment of C 0.52 per cent. steel by quenching and drawing, and repetition of this part of the work seemed advisable. This has been done during the past year at the School of Mines and Metallurgy of the University of Missouri at Rolla, Mo., by a cooperative undertaking of the School and the Bureau of Mines, working in conjunction with the Committee on Heat Treatment of Carbon Steels of the National Research Council. The present paper is a report of the results obtained in this work.

Jan 2, 1926

By Fred H. Perfect

The thermite process, now approximately 80 years old, has heretofore been practiced in ceramic vessels. This paper outlines the successful production of several million pounds of alloy produced in zuater-cooled copper vessels. THE high temperatures necessary to produce fluid high-alumina slags have probably discouraged earlier workers from attempting to utilize water-cooled vessels. The following is a report of the successful application of this method, together with a report of the physical and chemical problems which had to be solved to make the process practical. About 1955, when Reading Alloys was more concerned with the production of ferrotungsten than with most other types of alloys, it was found to be exceedingly difficult to predict the reaction rate that one would experience from one tungsten ore to another . This difficulty was increased for two reasons: the physical state of the ore as received was seldom uniform, and the size of the mass to be reduced is a very important factor in developing the proper mix for the final reaction rate and temperature. For example, the reduction of ferric oxide with aluminum would theoretically produce temperatures of about 2600°C, and, in spite of the losses due to radiation, the energy is quite sufficient to produce a very fluid slag and iron effecting a very clean separation. On the other hand, the reduction of ferrous oxide with aluminum, while it is not as energetic as the first reaction, nevertheless should give temperatures above 2000"C, which should cause separation of alumina and iron, but, in practice, this is not the case and good fluid slag is not obtained. The heat of reaction, calculated from the thermo-dynamic heats of formation of the constituents of the reaction, offers a convenient guide to the feasibility of a thermite reaction. Thus, the values listed in Table I can be used as an approximate guide for estimating the results which may be expected in the reduction of various oxides and combinations of oxides using aluminum as the reducing agent. As a generalization, those reactions releasing approximately 600 cal per g of total mass represent the lower limit at which to expect separation of slag and metal. On the other hand, those reactions which release 1100 to 1200 cal per g are too violent to be used successfully without the addition of considerable inert material, such as lime, fluorspar, and so forth. Reaction rate is also a very important factor. This, of course, is governed very largely by the sizing and intermingling of the oxidant and reductant and by the starting temperature of the reactants. This is why those figures shown in Table I can only be a general guide. Further, it must be understood, that by adding powerful oxidizing agents, such as nitrates, chlorates or metallic oxides, such as molybdenum trioxide or chromium trioxide, certain problems respecting low temperatures are not necessarily solved. This is true in the addition of oxidants, such as sodium chlorate. By adding too high a concentration of sodium chlorate as a booster for a particular reduction, explosions are generated. Generally, they are of an intermittent type so as to give a Roman Candle effect to the reduction itself; with each surge resulting from a minor explosion more and more material is thrown

Jan 1, 1968

By Enrique Hauser

Discussion of the paper of ENRIQUE HAUSER, presented at the New York meeting, February, 1916, and printed in Bulletin No. 110, February, 1916, pp. 521 to 534. GEORGE A. BURRELL, Pittsburgh, Pa. Mr. Hauser determined the influence of inert gases on the properties of fire-damp mixtures, and one might take some issue with his work on the effect of hydrogen, on those mixtures. It is valuable information to have, but as far as the practical application of it goes, it is not of much significance, because one does not find it in mines, at least not in any appreciable amount. The same Fig. 1.-APPARATUS FUR DETECTING COMBUSTIBLE GASES IN AIR. thing can be said of ethylene. Ethylene is formed in considerable quantities as a product of heat reaction, but normally, in the coal mines, as a result of a great many analyses we have made at the Bureau of Mines, we cannot say that ethylene is a combustible gas found in the fire-damp in coal mines.

Jan 5, 1916

By Charles E. Locke

IN gathering material for this review the aid of the individual members of the Milling Committee was invoked and the assistance received is hereby most grate- fully acknowledged. The replies were much alike; almost everyone stated that in 1932 his operations had been cur- tailed or stopped entirely, that the only activity and progress were in milling gold ores, and that the Hadsel mill' looked like a coming machine in the crushing and grinding field. However, further inquiry and search have shown that the year was not quite so barren of developments as the foregoing statement would indicate.

Jan 1, 1933

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.