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By George H. West, Ross Cummings, L. V. Steck, B. P. Little, Robert D. Pike

The drilling of constantly deeper oil wells has made it imperative that the manufacturer of casing be ever searching for new methods and new materials to meet the increased demands. One phase of this search constitutes the subject matter of the present paper. Starting from the original Drake well in 1859, the depth of wells has advanced by leaps and bounds, until today depths of 6000 to 8000 ft. are common. Conditions point to the necessity for drilling to greater depths, and it is not at all improbable that much of the future oil produc- tion will be from wells around 10,000 ft. deep. The trend to deeper wells is nicely illustrated by the curve in Fig. 1.l The points plotted are the maximum depths attained in the various pools which were at their peak for the years given. It may be of some interest to observe the change that has taken place in the tensile and collapsing stresses over the last 25 years. The pressure at the bottom of a 900-ft. hole, equivalent to the pressure caused by an equal column of water, is only 450 1b. per sq. in. The equivalent water pressure corresponding to the depth of the deepest hole today would be 4762 1b. per sq, inch.

Jan 1, 1930

By J. S. Owens, R. W. Marsden, J. W. Emanuelson, R. F. Werner, N. E. Walker

The iron ores of the Mesabi Range occur in a 340 to 750-foot thick, Precambrian cherty iron formation termed "taconite." For about 65 years, extensive natural iron ore bodies were mined, and the ores either shipped as a direct ore or processed by gravity methods to a shipping grade iron ore. Since 1956, magnetite taconite ores, occurring in magnetite-rich horizons in the Biwabik iron formation, have been commercially concentrated and agglomerated. The transition from natural ores to concentrating-grade ores is progressing rapidly so that, in the near future, a major percentage of the iron ore shipped from the Mesabi Range will be as iron ore pellets produced from taconite. Natural iron ores of the Mesabi Range occur in the Biwabik formation as trough ore bodies in elongated channels and as irregular and tabular deposits in fractured areas associated with faults and folds. Ore bodies range in size from a few thousand tons to hundreds of millions of tons and may occur in any part of the iron formation. In some areas of strong ore development, ore was formed from the hanging-wall argillite to the footwall quartzite. The natural ores and beneficiating-grade natural crude ores were formed by the oxidation of the iron minerals, magnetite, greenalite, stilpnomelane, minnesotaite, and siderite, to hematite and goethite and by the removal of much of the silica in the cherty quartz and in the associated silicates by leaching. The ores are believed to have formed by the oxidizing and leaching action of surface waters. Magnetite taconite ores occur as stratigraphic zones in the Biwabik formation where it contains sufficient magnetite to be concentrated profitably, by magnetic methods, to give a magnetite concentrate that is agglomerated into a high quality product. Unoxidized taconite has an extensive distribution away from and between channels of oxidation and leaching but only a part of the unoxidized taconite is of ore grade. Two general types of magnetite taconite ore occur: ( 1) magnetite taconite of the Main Mesabi Range, generally west of Mesaba, which is composed of magnetite associated with cherty quartz, greenalite, stilpnomelane, minnesotaite, and carbonates and (2) magnetite taconite of the Eastern Mesabi, generally east of Mesaba, composed of magnetite associated with quartz, cummingtonite, actinolite, ferrohypersthene, hedenbergite, fayalite, hornblende, pyroxene, garnet, and biotite. The Mesabi taconite is a metasediment derived from an iron- and silica-rich chemical sediment that has been regionally metamorphosed and, on the eastern end, additionally metamorphosed by the Duluth Gabbro Complex.

Jan 1, 1968

By G. Y. Chin, M. T. Dolan, W. L. Mammel

We have obtained by computer methods the solutions of the Taylor analysis1 for axisymmetric flow in bcc metals. Four modes of slip have been treated in detail:2-4 (111), {112}(111), {123}( 111), and a mixture of all three. In addition to obtaining anisotropy of strength data for randomly oriented or textured polycrystalline material,4 we have also obtained the lattice rotation resulting from slip on the predicted systems. The patterns of lattice rotation are essential to an improved understanding of texture development during deformation. The present note shows the results of lattice rotation for 5 pct axisymmetric compression, for fifty-two axial orientations distributed at 5-deg intervals throughout the standard stereographic triangle. The data are presented in Figs. 1 to 4 for the four modes of slip. The lattice rotation is indicated by a vector, the ends of which correspond to the positions before and after the deformation. The different vectors emanated from a given orientation represent different combinations of five slip systems that satisfy Taylor&apos;s minimum shear criterion.&apos; Fig. 1 shows the results for {110}< 111> slip. They are similar to those obtained by Bishop5 for the case of (111 )(110) slip in axisymrnetric tension, since in axisymmetric flow the sense of lattice rotation for {111)( 110) in tension is the same as that for (110) (111) in compression. The pattern of lattice rotation may be divided into three regions: region A in which the rotation is toward [100]; region B, toward [lll]; and region C, toward either [ loo] or L lll]. Although some slip combinations in region C lead to [1101, the latter is not stable as continued activity of the same combinations will eventually move the axis toward [loo] or Llll]. It may also be noted that [loo] is itself not stable. However, close inspection of the vectors in region A shows that it is impossible for an axial orientation within A to rotate outside its boundary. Hence after heavy compression, all orientations from A and some from C are expected to form a diffuse band in the [100] vicinity. By far the largest region is B. Here all orientations rotate to [lll], which is a truly stable position. Thus the [111] texture component is expected to be rather sharp. For the case of (112 }( 111) slip, Fig. 2, region C is enlarged at the expense of A, with B about the same as for {110}( 111) slip. A significant difference, however, is that [loo], as well as [Ill], is now truly stable. Fig. 3 shows the results of slip on {123}( 111) systems. Region B is substantially enlarged at the expense of C, with A being intermediate in size between the {110}(111) and {112}(111) cases. Like the case of {110)( 111) slip, [100] is itself unstable. However, the lattice rotations here are confined to less than 5 deg; hence it may be considered "stable" for practical purposes. Finally, Fig. 4 shows the results of mixed slip. Here region B is the largest, and C the smallest, of all the cases considered. Both [loo] and [ill] are stable. The behavior of the three corner positions is, in fact, identical to the case of {112)( 111) slip, Fig. 2; it turns out that in these positions for the mixed slip case, all the active slip systems (based on Taylor&apos;s criterion) belong to pure {112}( 111) .4 In summing up the results for the four modes of

Jan 1, 1968

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 constituent of steel, the element iron, is a substance which in its liquid phase has so great an affinity for those elemen&apos;ts which are to be removed from the charge, that it is very difficult to comply with the following conditions: 1, to heat the refining-slag to the highest point of its chemical activity ; 2, to prevent the iron from entering the slag, or, where this cannot be done, to make it enter so that it finally appears in the end-product

Jan 1, 1911

By William R. Chedsey

IN the last two years the E.C.P.D. committees having to do with the inspection of engineering schools for possible accrediting have been concerned with the engineering content of some of the mineral industries courses. Originally the discussion arose with regard to engineering geology, or geological engineering, afterward broadening to metallurgical engineering, ceramic engineering, agricultural engineering, and other branches not pertinent to this discussion. Some members of visiting committees took the attitude that they probably would have to accredit these types of training as included in the engineering group if they met the average standard set by the mining schools, though they questioned -whether they were really engineering.

Jan 1, 1939

For the year ending February, 1919 PRESIDENT SIDNEY J. JENNINGS NEW YORK, N. Y. PAST PRESIDENTS L. D. RICKETTS NEW YORK, N. Y. PHILIP N. MOORE ST. Louis, MO. FIRST VICE-PRESIDENT C. W. GOODALE BUTTE, MONT. TREASURER GEORGE C. STONE, NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND, NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON NEW YORK, N. Y.

Jan 4, 1918

By Bruno Nordberg

HOISTING is one of the earliest endeavors of man with machinery, for hoisting was probably used by the early Egyptians. Treadmills were used for general hoisting until early in the nineteenth century and it was a short step only to attach a Watt steam engine to the rope drum of a hoist. One of the earliest steam hoists was built for a coal mine at Frisne, near Valenciennes, France. It was a remarkable piece of engineering created by James Watt in 1811, using a wooden drum on a vertical shaft. This followed the crude hoist by Holtzhausen in 1803, which used a drum of wood on a horizontal shaft.1 In this country there were examples of crude mine hoists, which have been developed into the efficient machines in use today. African and Australian mines show examples of both extremes, and have an array of fine hoisting equipment exemplified in those built by British manufacturers. The influence of both English and American engineering in hoisting is interestingly evident in Canada. The information available to the writer does not reveal this to be true of South Africa, although American-built hoists have been furnished. Mining camps develop their own style of equipment, adapted to local conditions. For instance, the Butte mining district adheres to the straight drum with friction clutches, because of the great number of levels from which hoisting is done or to which men and material are lowered and the necessity for hoisting or lowering unbalanced. The north Michi-gan copper country uses both straight and cylindroconical drums and hoists continually in balance, so that the drums are not clutched to the main driving shaft. The Joplin mining district, Missouri, has its own peculiar small hoists. Other individual mines or localities in which a number of mines have been developed show individualisticc types of hoists, depending upon their particular problems. In each instance, however, the particular problem must be carefully analyzed, as conditions are seldom so near the same that a number of identical hoists can be used to advantage.

Jan 1, 1940

By James H. Taylor

"Titanium is a widely distributed, dark grey metal1ic element found in small quantities in many minerals. It has no important uses." Happily, this early quotation proved to be wrung; titanium has, on the contrary, found a large number of very important uses. The error in the 1926 quotation illustrates the problems associated with forecasting the future development of any metal. &apos;The paper will nevertheless attempt to estimate what will happen to the European titanium industry over the coming decade with slightly more accuracy. It was not until 1955 that anything other than pilot plant facilities were installed in Europe. In 1955 IMI&apos;s plant in England, two plants in Germany, one in France and one in Sweden came into operation. All the companies associated with titanium installed melting furnaces but only IMI Titanium has forging and rolling facilities devoted solely to the production of titanium. The other firms rely on the use of equipment of their parent steel companies for processing the me1 ted titanium ingots.

Jan 1, 1982

By Albert R. Ledoux

Discussion of the Paper of Albert R. Ledoux, read at the Atlantic City Meeting, February, 1904. ARTHUR JARMAN, Sydney, New South Wales, Australia&apos; (communication to the Secretary*): Some remarks upon. Dr. Ledoux&apos;s interesting paper from one who has not visited America may, I hope, be of interest to members. It appears to me that there is considerable difference between the training of the American and of the British mining engineer. Not that the subjects are different, but rather in the way in which they are handled, the illustrations being, as far as possible, mining in character. Colloquial instruction is unknown in English curricula, but could be introduced with advantage. Students here assure me that an hour of conversation is of tar more use to them than an hour of the best lecturing. In England a school-year of 6 or 7 months would be considered very short indeed; but Americans do not consider it so, for the reason that the rest of the year is mostly spent in acquiring practical acquaintance with their subjects in works or in the field, and the shorter courses, when coupled with this large amount of outside expe¬rience, produce an essentially practical-minded engineer, who is also more of a business man; whereas the English system, though excellent from a scholastic point of view, produces the theoretical rather than the practical man. British schools are waking up, however, and the practical aspect of the engineer&apos;s training is receiving greater consideration. Once launched upon his career, the American engineer is immediately called upon to exercise his self-reliance and ingenuity, if he is to retain the confidence of his employers; but what can we say of English directors? In how many cases is the engineer allowed to guide the destinies of his company? Witness several recent cases of gross waste of money upon unsuitable plants, and the perpetuation of prehistoric methods of

Mar 1, 1905

By E. L. Jr. Spain

THE deposits described in this paper occur over much of Wayne County and in the southeast portion of Hardin County, Tennessee, and in the northeast and northwest portions of Mississippi and Alabama respec-tively. The presence of tripoli in this region has been known for some time and descriptions of various occurrences in Tennessee have been made by Jewell1 and Miser2, while Hilgard3, Lowe4 and Logan5 have treated the deposits that occur in the adjacent portions of Alabama and Mississippi, but there has not been a general survey of the entire field summarizing completely the geology of the deposits with respect to their origin and stratigraphic relationships. During 1934, while engaged in surveys of mineral resources through this region for the Tennessee Valley Authority, the writer collected data with this in mind, and has assembled them in this report. He is indebted to H. S. Rankin and N. A. Rose, of the Tennessee Valley Authority Geology Division, for field assistance.

Jan 1, 1936

By Harry K. Ihrig

The hot-working of iron and steel is an art dating back to antiquity, but until about 25 years ago, relatively few alloying elements were used, and these were present only in small percentages. With the exception of sulphur, the amounts of other elements in steels did not markedly affect their hot-workability. The references in the literature on the effect of other elements on the hot-workability of steel are usually reports of failure of these steels in forging or rolling.1-8 With the increased use of alloying elements, and their use in larger amounts, it was observed that many of the new steels were red short in certain critical ranges or at all hot-working temperatures. The stainless steels are particularly difficult to hot-work. The determining of the correct conditions for piercing, rolling and forging of these alloys by experimentation in the mill often results in large losses of these expensive metals. It also is found that the hot-workability limits of many types vary from heat to heat, and hence poor results are obtained on changing to a new heat after a previous one has rolled satisfactorily. To determine the effect on hot-workability of iron to which various elements have been added, it was necessary to devise a method that could be used on small quantities of metal. In such a method, the minimum number of variables should be present, and the procedure should be simple, quick and correlatable with large-scale hot-working operations. Sauveur,9 in the first Henry Marion Howe lecture in 1924, described the effect of carbon on the ductility of steels in torsion near their critical points. He found that carbon increases the plasticity of gamma iron. In the 1930 Campbell Memorial lecture,10 he gives the effect of carbon, chromium, and chromium and nickel on the ductility of steels under 2000°F. in torsion. Ellis11 has studied the malleability of steels at various elevated temperatures by means of a single-blow drop-hammer test. In this test the percentage decrease in height of standard cylinders is taken as a measure of their malleability. He has shown that in the low-alloy steels studied, carbon has a greater effect than nickel, chromium and vanadium. In 1938 the first tests were run on a new quantitative hot-workability test in the laboratories of the Globe Steel Tubes CO. Thum12 mentioned it in 1940. An illustration of the apparatus was published in January 1942.&apos;&apos; The effect of a few alloying elements on the hot-workability of metals was shown in a description of the test in 1944.14 Description of Test Method The method adopted after a trial of several others is a rapid twisting of bars to failure in a furnace. The standard-size bar was chosen as 9/16 in. It is prepared from larger pieces by forging and cold-

Jan 1, 1947

By Harry K. Ihrig

The hot-working of iron and steel is an art dating back to antiquity, but until about 25 years ago, relatively few alloying elements were used, and these were present only in small percentages. With the exception of sulphur, the amounts of other elements in steels did not markedly affect their hot-workability. The references in the literature on the effect of other elements on the hot-workability of steel are usually reports of failure of these steels in forging or rolling.1-8 With the increased use of alloying elements, and their use in larger amounts, it was observed that many of the new steels were red short in certain critical ranges or at all hot-working temperatures. The stainless steels are particularly difficult to hot-work. The determining of the correct conditions for piercing, rolling and forging of these alloys by experimentation in the mill often results in large losses of these expensive metals. It also is found that the hot-workability limits of many types vary from heat to heat, and hence poor results are obtained on changing to a new heat after a previous one has rolled satisfactorily. To determine the effect on hot-workability of iron to which various elements have been added, it was necessary to devise a method that could be used on small quantities of metal. In such a method, the minimum number of variables should be present, and the procedure should be simple, quick and correlatable with large-scale hot-working operations. Sauveur,9 in the first Henry Marion Howe lecture in 1924, described the effect of carbon on the ductility of steels in torsion near their critical points. He found that carbon increases the plasticity of gamma iron. In the 1930 Campbell Memorial lecture,10 he gives the effect of carbon, chromium, and chromium and nickel on the ductility of steels under 2000°F. in torsion. Ellis11 has studied the malleability of steels at various elevated temperatures by means of a single-blow drop-hammer test. In this test the percentage decrease in height of standard cylinders is taken as a measure of their malleability. He has shown that in the low-alloy steels studied, carbon has a greater effect than nickel, chromium and vanadium. In 1938 the first tests were run on a new quantitative hot-workability test in the laboratories of the Globe Steel Tubes CO. Thum12 mentioned it in 1940. An illustration of the apparatus was published in January 1942.&apos;&apos; The effect of a few alloying elements on the hot-workability of metals was shown in a description of the test in 1944.14 Description of Test Method The method adopted after a trial of several others is a rapid twisting of bars to failure in a furnace. The standard-size bar was chosen as 9/16 in. It is prepared from larger pieces by forging and cold-

Jan 1, 1947

The objective of the mission was basically to study the utilization of engineers and engineering technicians and their interrelationship in the Soviet Union. Beginning with their graduation from the engineering institutes and technicums, we hoped to learn how the graduates started out in industry, what their training on the job was, what sort of work they did, and how they worked themselves up within their profession. However, it turned out that, as our host was the Ministry of Higher and Secondary Education, most of our visits were to educational establishments. Our itinerary covered Moscow, Leningrad, Kharkov, Rostov, Baku, and Tashkent, with a side trip to Samarkand. In all, we visited 13 technical institutes, three technicums, and five industrial plants or enterprises, as they are called there. Our trip was one of only four weeks. Our observations were limited by the few cities and enterprises we were permitted to visit. Nevertheless, we did come back with some definite impressions and conclusions which we feel should be of interest to engineers, educators, and those concerned with the relative economic and technical power of the USSR and the U.S.

Jan 9, 1960

By Thomas A. Simpson, Tunstall R. Gray

The Birmingham district first produced steel from Alabama hematite ores in 1899. Since then, the district generally produced more than 6.0 million gross tons of ore a year to the late 1950's. Production has declined since then to an annual rate of about 1.5 million gross tons. Reserves calculated for the district are sufficient to last many years. Mining in the district is now confined to Woodward Iron Company's Vance and Pyne mines. The rocks exposed consist of about 15,000 feet of consolidated Paleozoic sediments with a thin veneer of unconsolidated Cretaceous sediments in the Vance area. The district is characterized by a distinctively parallel and subparallel, slightly arcuate series of faults and joint systems. In view of available information, it seems reasonable to conclude that the Birmingham red ores are of sedimentary origin, modified to a small extent by diagenetic replacement after original deposition.

Jan 1, 1968

By Augustus Locke

Jan 1, 1923

By Augustus Locke

Jan 1, 1923

By T. S. West

Completion and production data presented for three wells in the Oakville area of Live Oak County, Texas, which were completed near the gas-oil or water-oil contact, indicate that coning may not be as prevalent a cause of failure in such cases as is commonly assumed. Failure in the cases discussed is indicated to be due instead to: (I) erosion of the formation, (2) flowing out of mud filter cake, or (3) failure of the cement. An open-hole gravel-pack type of completion procedure is proposed for preventing failures of this kind by preventing movement of all solid material in the space in which completion is made. Various combinations of layers of gravel, sand, and cement are utilized for this purpose. Experimental results and theoretical discussion as to the applicability of gravel pack completion are included. Introduction This paper is primarily a study of the reasons for failure of oil-well completions near the gas-oil or oil-water contact, and suggests a procedure for increasing the efficiency of this type of completion. The value of improvement in completion effectiveness near the gas or water zone is not confined, however, to wells of relatively thin oil columns. Thick oil columns become thin as depletion progresses. It would seem to follow that the minimum distance from the gas or water zone at which completion can be made in a new well indicates the limit to which depletion may be carried in a well having an oil column of any initial magnitude. Only four ways can be postulated in which high gas-oil or water-oil ratio can initially occur if the zone exposed for production is within the oil column: 1. Failure of the cementing material. 2. Vertical coning. 3. Failure along the boundary between the cement and the wall of the well. 4. Failure of the formation comprising the wall of the well. Cementing materials such as portland cement and plastics have reached a high stage of development. Failures of this type are probably due almost always to extraneous causes such as mud contamination rather than to faulty cementing material. Vertical coning can and obviously does occur. However, the usual occurrence of thin impermeable streaks in sand sections and the success with which open-hole drill-stem tests can be made near the gas-oil contact suggest that over-all effective vertical permeability, and in turn vertical coning, is less prevalent than frequently is assumed. Much has been written on failure by flowing out of the mud filter cake between cementing material and the formation. A filter cake is always present if, prior to cementing, mud has come in contact with a permeable formation at pressures exceeding the pressure head of the fluid it contains. Mechanical methods are in use for removing filter cake during the cementing operation? which undoubtedly are of

Jan 1, 1947

By T. S. West

Completion and production data presented for three wells in the Oakville area of Live Oak County, Texas, which were completed near the gas-oil or water-oil contact, indicate that coning may not be as prevalent a cause of failure in such cases as is commonly assumed. Failure in the cases discussed is indicated to be due instead to: (I) erosion of the formation, (2) flowing out of mud filter cake, or (3) failure of the cement. An open-hole gravel-pack type of completion procedure is proposed for preventing failures of this kind by preventing movement of all solid material in the space in which completion is made. Various combinations of layers of gravel, sand, and cement are utilized for this purpose. Experimental results and theoretical discussion as to the applicability of gravel pack completion are included. Introduction This paper is primarily a study of the reasons for failure of oil-well completions near the gas-oil or oil-water contact, and suggests a procedure for increasing the efficiency of this type of completion. The value of improvement in completion effectiveness near the gas or water zone is not confined, however, to wells of relatively thin oil columns. Thick oil columns become thin as depletion progresses. It would seem to follow that the minimum distance from the gas or water zone at which completion can be made in a new well indicates the limit to which depletion may be carried in a well having an oil column of any initial magnitude. Only four ways can be postulated in which high gas-oil or water-oil ratio can initially occur if the zone exposed for production is within the oil column: 1. Failure of the cementing material. 2. Vertical coning. 3. Failure along the boundary between the cement and the wall of the well. 4. Failure of the formation comprising the wall of the well. Cementing materials such as portland cement and plastics have reached a high stage of development. Failures of this type are probably due almost always to extraneous causes such as mud contamination rather than to faulty cementing material. Vertical coning can and obviously does occur. However, the usual occurrence of thin impermeable streaks in sand sections and the success with which open-hole drill-stem tests can be made near the gas-oil contact suggest that over-all effective vertical permeability, and in turn vertical coning, is less prevalent than frequently is assumed. Much has been written on failure by flowing out of the mud filter cake between cementing material and the formation. A filter cake is always present if, prior to cementing, mud has come in contact with a permeable formation at pressures exceeding the pressure head of the fluid it contains. Mechanical methods are in use for removing filter cake during the cementing operation? which undoubtedly are of

Jan 1, 1947

By Henry E. Colton

NeaR the town of Christiansburg, Va., occurs a singular feature in topographical as well as geological structure, which may be said to have an important bearing on a large area to the southwest. The great water-shed ridge, which divides the waters flowing into the St. Lawrence from those flowing into the Atlantic ocean, coming southwestward, forms all of what was the boundary of Maine as agreed upon by the treaty of 1783, and a part of the present boundary, all of the northern New Hampshire boundary, and entering Vermont, continues south of Lake George. Passing irregularly through New York, it enters Pennsylvania, and there bifurcating, sends one prong to the west as a divide between the waters of the lakes and the Ohio, while the other becomes the steady, regular ridge which gave it the name of Alleghany, and thus passes on southwestward through Virginia. At no point has it ever been the geological divide. Its course, commencing in the Archean rocks, has passed through nearly every series of formation, and comes into Virginia in the Carboniferous strata. The geological divide—the line between the fossiliferous and the non-fossiliferous rocks—lies, in Canada, to the west of it, but from New York south into Virginia is far to the east. Reference to Dr. Hitchcock&apos;k map will show this. But at the locality noted these positions are changed; the water-divide becomes the eastern chain, and the geological divide is the western, returning, it may be said, to the positions occupied in the region where they originated. These relations are shown on the large map accompanying the present paper. For several miles, the track of the Norfolk and Western Railroad

Jan 1, 1888

By Arthur Notman

THE COMMITTEE on Production Control of the Institute has accomplished little or nothing tangible during the last year. For this the chairman must accept responsibility and whatever praise or blame goes with it. However, we have all had plenty of opportunity to observe the results obtained by various producing groups in their attempts to regulate production to meet demand dur¬ing the last few years. It would be putting it mildly to say that these have not been such as to inspire confidence in the methods pursued. The present plight of the wheat, cotton, coffee and sugar growers; the oil, copper, lead, zinc and tin producers, to name a few of the unfortunates, suggests a common cause perhaps beyond their control. There is a growing tendency to question as outmoded the theories of laissez faire economics, with its laws of competition, supply and demand, with price as the automatic regulator. The position is maintained that something new should be substituted because these laws no longer work. Many solutions are offered, ranging in the world at large from the planned economy of Russia, with the profit element removed, to the military controlled economy of Fascism, and in our own country from voluntary curtailment to martial law. But one hardly feels driven by any irresistible logic to put his finger on any one of these proposals, and to say this is the one in which I believe. On turning to one&apos;s neighbors, one is still more confused by the realization that this intellectual uncertainty is wide-spread. Isolation or cooperation, protection or free trade, the gold standard, bimetallism or managed currencies, de¬flation or inflation, all have their proponents in whose eyes one or the other of these slogans will afford the panacea for all our ills.

Jan 1, 1933