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With this issue of the Bulletin, the Institute puts into operation a plan which it has long had under consideration for enlarging its field of usefulness to its members. We refer to the Index to periodical literature bearing on mining, metallurgy, and related subjects, which will be found in the advertising section at the end of the Bulletin. The Index is printed on alternate pages so that anyone who desires to compile a card index can readily clip the items and paste them onto cards. By its affiliation with the Engineering Societies Library, the Institute possesses unexcelled facilities for the preparation of this Index, since practically every important engineering or technical paper published anywhere in the world is regularly received by the library. The items for publication in the Index are first selected by the library staff, but their final approval and their order of arrangement remains in the hands of the editor. A word should be said in explanation of the system of classification that has been adopted. It will be noted that the classification is extremely broad, no attempt having been made to gather the references into closely specialized groups. Our reason for breaking away from the modern tendency toward minute specialization is based upon the fact that the fundamental principles underlying all engineering are not by any means so diversified as has commonly been supposed. For example, it is not at, all unlikely that an engineer engaged in large-scale ore mining in the Southwest can profit by observing the methods employed by his colleagues in the Pennsylvania coal mines. It is notorious also how extensively the brotherhood of chemical engineers has profited by the. earlier experiences of the ore-dressing and metallurgical engineers. If the Index were minutely sub-divided, it would always be possible that the coal-mining engineer, for example, might fail to observe a most important paper because it happened to be listed tinder the head of iron mining. For this reason, mining practice in general is consolidated under one head. The same line of reasoning applies to other divisions as well. In order to make the Index of practical value to all members of the Institute, wherever they may be situated, the library will undertake to supply, for a nominal charge, an abstract, a translation, a typewritten copy, a photostat copy, or the original of any article in the Index. Requests for service of this character should be addressed directly to the Engineering Societies Library, 29 West 39th St., New York. Members are urged to cooperate toward the success of this new departure by sending us suggestions. Although every effort has been made to anticipate the wishes of the members, it is almost impossible to foretell what services may be most useful to our 7000 constituents. Furthermore, it is known that some men prefer one method of classification while others would find another method more convenient.

Jan 9, 1918

REORGANIZING AMERICAN ENGINEERS There are in America approximately 500 engineers' organizations of various kinds, and yet it is estimated in many communities that 30 to 50. per cent. of the resident engineers are not members of any society of engineers. There is no enumeration of the engineers of the country, but estimates range from 100,000 to 300,000, the latter number probably including assistants, such as instrumentmen, draftsmen and inspectors, together with professional engineers. These local, state, regional and national organizations are for the most part independent and have no means for cooperation. Steps toward the improvement of these conditions are being taken in a number of localities and have already been taken in others. Many engineers are giving the matter serious attention. American Society of Civil-Engineers took an important action at the June meeting of its Board of Direction, by, authorizing the creation of a Committee on Development of Am. Soc. C. E. This action is now well known to all representatives on Engineering Council. Other Founder Societies axe reported to be considering similar action. Engineering Foundation, at its meeting on Sept. 12, adopted the following resolutions: Survey of Engineering Organizations BE IT RESOLVED: that the Engineering. Foundation is prepared, the four Founder Societies concurring, to devote its strength and its' income, so far as this may he required, to a study of existing engineering organizations, and from information thus developed to formulate a series of constructive recommendations which may he serviceable in guiding the further development of local and national engineering organizations in their relations to the profession of engineering, to the public and to each other, to the end that a foundation may he laid upon which to establish a broadly planned procedure, which, while recognizing and preserving all that has already been accomplished, shall increase the power of American engineers in upbuilding their profession and in the service they render to society; and RESOLVED: that in accepting the responsibility for such an undertaking, it will be the purpose of the Engineering Foundation to organize the proposed research along the broadest possible lines, to call to its aid highly qualified experts, and to avail itself of the help of agencies which may be willing to cooperate; and RESOLVED: that in proposing this research the Engineering Foundation has no desire or purpose to intrude upon the domain of individual organizations; that it does not propose to control the action of any individual or organization; nor to ask the acceptance of its conclusions; but that its purpose shall he to develop a possible procedure, or a series of such procedures, of such evident, merit that they will appeal to those who are likely to be most interested; it will do this in the belief that in so far as its work may justify the confidence of engineers and of engineering organizations, it will bear its own fruitage.

Jan 11, 1918

The income of the Institute is derived from dues, subscriptions to Mining and Metallurgy and sale of publications. These sources are fortunately supplemented by the interest from invested funds now amounting to over $500,000, a considerable portion constituting endowments for especial purposes. Aside from the medal funds the principal endowments are the James Douglas Fund for support of the Library, the Rocky Mountain Fund and the Seeley W. Mudd Memorial Fund. The income from the two last named is available for the support of research and a variety of other purposes, It is allocated by the Board of Directors upon recommendation of standing committees in each case. An active effort is being made to increase the endowments of the Institute, it being felt that unusual opportunities exist for research and public and professional service through the organization and at a minimum of expense. J. V. W. Reynders is chairman of the Endowment Committee. Seeley W. Mudd Memorial Fund THE Seeley W. Mudd Memorial Fund, consisting of $100,000, was given the Institute in 1929 by the family of Colonel Mudd who had served the Institute as Director, Vice-president and on many important committees. His long career of distinguished professional and public service is fittingly commemorated by this fund. The income is available for support of research and other special purposes. In view of Colonel Mudd's life work with the nonferrous metals and his keen interest in the younger men of the profession it is purposed to apply the fund particularly to the benefit of these two. Control of income is exercised by the Board of Directors on recommendation of a Committee consisting of the President and Secretary, ex officiis, together with three others selected by the Board. The Committee consists at present of the following members: W. H. Bassett, President; H. Foster Bain, Secretary; Harvey S. Mudd serving until October, 1931; Edgar Rickard serving till October, 1932; George Otis Smith serving until October, 1933. On recommendation of this Committee the Board has authorized as a first project the preparation of a series of small books designed especially to be helpful to the Junior Members. These are now being written and it is hoped will be available for distribution in 1931. The list includes: A Brief History of American Mining, by T. A. Rickard; Mining Costs, Why and What, by Arthur Notman; Introduction to Mineral Economics, by H. Foster Bain and T. T. Read; Choice of Methods—A Record of Experience in Making Decisions, with chapters by W. H. Bassett, F. W. Bradley, E. DeGolyer, Howard N. Eavenson, A. B. Parsons, J. V. W. Reynders, L. D. Ricketts, Robert E. Tally, Pope Yeatman and others. One other book is projected but final selection has not been made. The purpose of these books is to afford the younger men who now come into a highly specialized profession some substitute for the broad

Jan 1, 1930

AS provided in Article VIII, Section 4 of the By- laws, the Papers and Publications Committee has formulated the following, rules of pro-cedure and submitted them to the Board of Directors for consideration and approval. In preparing these rules the committee, and an active subcommittee con-sisting of Messrs. Norris, Sharpless; Fohs and Wither-ell, have kept in mind the desirability of codifying the practice that has grown up through the now sev-eral years of experience of the committtee, without casting them in a mold so rigid as to be hampering. The problems of the Institute change from year to year and the methods of publication must change also to meet each new situation as it arises. "The estab-lishment of divisions and special volumes devoted to the papers. read before each required certain changes from former practice. These rules have been framed with this in view. The committee suggested, however, in its letter of transmittal, that the system will be made all the more workable if the Board will, as far as practicable, in making appointments to this committee, arrange for representation from each of the professional divisions and technical committees. It is understood that the chairman of the committee will be named by the Board. The rules regarding spe-cial volumes have been framed, keeping in mind the present policy of distribution, as already approved by the Directors under which the special volumes go only to the special. groups except on request. The committee has not attempted to provide rules governing consideration of any appeal made to the Board from one of its decisions, but its services and files will necessarily be at the full service of the Board in any such event. The rules which were ap-proved by the Board at its meeting on March 30, 1928, are as follows: Signed by C. S. Witherell, Chairman. (A) The authority of. the Committee on Papers and Pub-lications, hereinafter called the Committee, is defined in Art. VIII, Sec. 4 of the By-laws of the Institute, which reads as follows: "Papers and Publications: The Committee on Papers and Publications shall consist of the Secretary of the Institute, and at least twelve members of the Institute, to assist in passing on all papers offered for publication. They shall be appointed annually by the Board of Direc-tors, on recommendation of the President, and shall have authority, subject to appeal to the Board, to accept or reject papers for publication in the Transactions and Technical Publications of the Institute. The Commit-tee shall formulate a set of rules of procedure which, when approved by the Board, shall have the force of By-laws until revoked or amended." The policy of the Committee will be to uphold the ob-jects of -the Institute as set forth in the Constitution (Arti-cle 1, Sec. 2).

Jan 5, 1928

By John C. Robison

INTRODUCTION Sensitivity analysis is a means of gauging the impact of individual risks on a financing. Key risks can occur in three time periods: - Feasibility, engineering and construction phase; - Start up phase (usually through completion); - Operating phase (post completion). If a company has agreed to cover these risks prior to completion, then less attention will be paid to the sensitivity of the project in the first two time periods. Since the operating phase of the project generates cash for both operations and debt service and generally does not begin until two to six years after the loan is signed, it is wise to look at scenarios other than the projected "base-case" scenario in order to determine the project's capability to operate successfully under a broad range of probable future events. Lenders are compensated at a fixed spread over their borrowing base and generally are not compensated if the project is successful beyond expectation. They are also subject to the loss of principal plus funding costs if the project performs below expectation. Because of this, lenders establish sensitivities around the parameters of conservative projections developed in the project feasibility studies and the cash flows resulting from these projections. The initial cash flow projections should demonstrate the project's ability to meet cash costs, debt service requirements (principal and interest), and still have sufficient cushion to cover contingencies such as strikes, price fluctuations, force majeur situations, etc. (See Schreiber, Chapter 10). The selection of the level of sensitivity analysis to be performed is the result of both objective criteria, including probabilistic analysis applied to the technical parameters, and, of equal importance, subjective criteria applied by the analysts, especially with regard to the economic and financial parameters impacting the project cash flows. RISK SENSITIVITY Assumptions used in the cash flow projections should be realistic. Risks identified by the lenders should be identified and cash flows prepared to assess whether these project risks are acceptable. Typical project risks include the following (see also Chapter 9): - Sufficient reserves - quantity and quality - Product price - Production level - Operating costs - Availability of energy and supplies - Transportation and infrastructure requirements and costs - Interest rate - Completion risks - Tax level - Political risks - Cost over-run risks - Operator experience - Management - Technological risks - Environmental permits and risks - Foreign exchange risks - Insurance coverage - Equity of sponsors - Inflation rate - Capital expenditure during project life In order to see the effect on the cash flow projections, each risk should be analyzed for its impact on the cash flow generating capacity of the project. Sensitivities can be examined to see if the resultant cash flow projection will meet the lenders minimum credit standards. 1.Reserve Sensitivity In general, lenders will not assume the reserve risk. However, it should also be noted that lenders receive loan proposals in which reserves range anywhere from proven to possible. Sensitivities are not generally run for various reserve levels and reserve estimates are either considered acceptable or not acceptable by the lenders.

Jan 1, 1985

By Thomas W. Dawson

The H. C. Frick Coke Co. has used belt conveyers for handling coal for the last eighteen years but, until recently, only for small tonnages and over short distances. The first installations were outside the mines for distributing coal to various parts of plants. A belt conveyer was put in service at Colonial No. 4 Mine in November, 1906, to carry coal from the main hoisting shaft to a storage bin serving two blocks of beehive ovens on the other side of the valley; it was in constant service until the Colonial No. 4 ovens were abandoned less than a year ago. This conveyor was in an overhead gallery that spanned our sidings and yard tracks and the main line of the Pennsylvania Railroad. It was a crude installation, from the viewpoint of present conveyor engineering practice. It had no mechanical feeding device, the coal simply ran through a gate in the side of a bin on to the belt; but one belt on this conveyor lasted eleven years. This conveyor is about 300 ft. long center to center of pulleys. It operated at a speed of 250 ft. 'per min-and carried about 400 tons per day. On this basis, the belt life of eleven years means that not over a million and a quarter tons was carried by the belt. whi1e: this is not a large tonnage, the cost per ton was much less than by any previous method in use for supplying coal to ovens located at a distance from the main shaft. The next belt conveyor was installed at Bridgeport Mine in 1907. It carried about the same daily tonnage as the first, delivering from the hoisting shaft to a coke-oven bin. Very few data were kept on this conveyor. It also operated until the coke ovens at the plant were put out of blast and the coal taken to the Clairton byproduct plant by river. In 1916, work was started to equip the Bridgeport, Palmer, Gates, and Ronco mines to load their entire output on the river for transportation to the Clairton byproduct plant, which was then being built. These mines were all operating at that time and had a large area of coal available for river shipment. The Monongahela Railroad was located between the hoisting shaft and the river at each of these plants and, therefore, had to be crossed at each location to deliver coal to the river. After careful study, it was decided to transport this coal from the hoisting shaft to the river at each of these plants by belt conveyors.

Jan 1, 1925

By Edward H. Robie

SUBJECT to formal Board approval in September, AIME dues will continue indefinitely at the present scale of $20 for Members and Associate Members; and $12 for Junior Members for the first six years of such membership, thereafter $17. That is the wish of the Board of Directors and the will of the membership, as expressed in the recent referendum. Though the official returns, as reported by the tellers, are not available as this is written, the data are sufficiently complete to give the results to the nearest percent. The total vote was approximately 93 pct for continuance of the present scale. Metals Branch members voted about 94 pet for continuance; Mining Branch members slightly less than that; and Petroleum Branch members about 91 pct. As in the referendum of 1949, there was no particular difference of opinion on the question of dues as between the three Branches. The percentage of ballots returned was about 61 pct, only slightly more than in the 1949 referendum. But the affirmative vote was much greater, 93 pct against 78 pet in the earlier referendum. Looked at another way, a majority of those to whom ballots were sent, 56 pct, voted to continue the present scale of dues, whereas only 46 1/2 pct of those canvassed voted to raise the dues in the previous referendum. But approximately 600 , members expressed their opinion that the dues should go back to $15 for Members and Associate Members and to $10 and $15 for Junior Members. This is a substantial group of members who either do not think they are getting their money's worth from AIME membership, or believe that a more businesslike conduct of Institute affairs should provide current services at less cost, or believe that more service is being provided for their dues than they need. As to the first point, it is probable that some members are not getting their money's worth. They perhaps have only a fringe interest in. AIME activities, or they do not or cannot participate in such activities at the Local Section, divisional, or national level, so that all they get out of the Institute is the monthly journal, which they do not have time to read. If they did read it intelligently, and acted upon the professional information thus gained, it is difficult to understand how one or more ideas cannot be gained that would be worth $20 to them professionally. But the 600 members who want lower dues offer a challenge to the Directors and to the staff to do a better job; to make Institute membership so rewarding that every. member will be thoroughly satisfied. Twenty 1935 to 1939 dollars are worth only $11.60 now, according to the latest government data, but that makes it all the more necessary for us all to appraise the value of what we buy. To the 93 pct of Institute members who expressed a vote of confidence, so to speak, the staff, and we feel sure the Directors as well, are most appreciative and thankful.

Jan 1, 1952

By Peter J. Maxworthy

INTRODUCTION There is no hard and fast rule on whether functions within a company, diversified or otherwise, should be strongly centralized or decentralized. In all diverse organizations, there are certain basic functions which remain common (or central) to each element of the business, viz: Personnel Management Cash Management Taxation Management Legal Planning Accounting Standards It would follow that each of these common factors requires some supervision at a central level to ensure that overall group objectives are met. It is true that other functions including: Industrial Relations Marketing and Distribution Production Research and Development Purchasing Management Accounting may also be common to each element of the organization. However, there is far less commonality in the degree to which these functions are central to the efficient performance and financial well-being of the business. Role of Operating Units The resources of operating centers may be viewed as a bank of funds, the nature of which can be changed from time to time, but the employment of which must provide for ongoing increases in the net worth of the total enterprise expressed in terms of market values. Operating units are required to continually review products, methods, and opportunities and to monitor avenues for incremental investment--all with a view to attaining the necessary additive net present value of future cash flows of the enterprise. Operating units should be permitted sufficient autonomy to enable the best use to be made of the skills and experience of the people it employs in order to produce a return appropriate to the value of assets employed. Role of Head Office The head office will typically comprise a specialist group--the leaner the better if one strongly adopts the decentralist approach--often acting as Service Centers but also performing a control function in the corporate sense. The head office function is a cost center. It may be instrumental in developing strategies for increasing revenues or reducing costs on a group scale, but it does not generate revenue. Every dollar spent on this function is an extra dollar to be generated by the operating centers in order to achieve an increase in corporate wealth. TREASURY MANAGEMENT Treasury management is concerned with the provision of finance, cash-flow management, and risk analysis. Each decision taken within the enterprise has a cash implication. It follows that a well-integrated central Treasury function can, in all likelihood, produce economic benefits. The degree to which the function should be centralized depends largely upon the unique nature of the operating units it is servicing. Levels of ownership, the calibre of unit operating managers, and the nature and geographic distribution of the business are all factors determining the degree to which the Treasury function is centralized. In the case of Peko-Wallsend, the Treasury Department is small, comprising four people. While divisional cash-flow management is largely decentralized, Treasury is responsible for the daily management of funds surplus to the immediate needs of operating units. Treasury also operates as central banker and provides funds to

Jan 1, 1985

By C. Burton Clark, J. Spotts McDowell

Refractories are defined as "materials having the ability to retain their physical shapes and chemical identities when subjected to high temperatures," or as "nonmetallic materials suitable for the construction or lining of furnaces operated at high temperatures." While resistance to "high" temperatures is thus the primary requirement for refractory materials, it is by no means the sole requirement. They must be able to withstand thermal shock resulting from rapid heating or cooling; other stresses induced by temperature change; pressures from the weights of furnace parts or contents; mechanical wear (abrasion) resulting from movement of furnace contents; and chemical attack by heated solids, liquids, or gases. Refractories of many kinds are needed for the many and widely diversified industrial applications. Those in greatest demand are classified on the basis of composition or properties into a few main groups, known as alumina-silica, silica, basic and insulating refractories. In each of these groups there are several classes. In addition to those included in the main groups, there are various special refractories, including silicon carbide, carbon, zircon, zirconia, alumina, and several others. Alumina-silica refractories comprise two main divisions: fire clay and high-alumina. The alumina content of fire-clay refractories covers the range from about 45 pct to 18 pct, and the silica content from 50 pct to 80 pct. The alumina content of fired high-alumina refractories ranges from about 99 pct to 45 pct, and the silica content from about 0.5 pct to 50 pct. Silica refractories of the different classes contain 94 pct to 97 pct silica. Basic refractories include periclase (magnesite), chrome spinel, forsterite, and dolomite. Refractory materials, including insulating firebrick, are supplied mainly as preformed shapes. Other products include bonding mortars and high temperature cements, ramming mixtures, plastic firebrick, hydraulic setting castables, dead-burned grain magnesite, and dead-burned dolomite. Refractory brick are classified on the basis of their physical form as Standard Sizes and Special Shapes. The Standard Sizes are brick of certain definite sizes and relatively simple design which are used in sufficient amounts to permit quantity production. The brick most widely used are the standard 9 in. X 4 ½ in. X 2 ½in. and 9 in. X 4½in. X 3 in. straights and corresponding series of sizes. All brick of nonstandard dimensions are regarded as "special shapes." They include a wide variety of brick regularly used for specific services, such as baffle tile for boilers, checker brick for regenerators, and others; together with shapes of special design manufactured on particular orders from designs submitted by the user. Not included in the broad classifications of Standard Sizes and Special Shapes are several specific-service refractory products, usually made by companies which specialize in their manufacture, or in some cases by the consumers themselves. These products include

Jan 1, 1960

By J. B. Murdoch, John G. Jackson

The many mechanical, geological, and economic factors which influence the planning of a directional drilling program are thoroughly discussed and analyzed. It is demonstrated that the planning of a directionally drilled multiple-well artificial island location is a complicated undertaking and that it is imperative that complete planning and engineering analysis be undertaken before the program is started. Complete planning is profitable because all of the factors influencing the directional work are in general interrelated and many time compromises have to be made before a harmonious program results. The engineering control necessary to accomplish a complicated directional drilling program is outlined. Various means by which engineering control can be increased, such as cylinder drilling specifications, are given. A hypothetical example is developed for a complete offshore artificial island of ten wells to demonstrate the more important factors involved in the planning. Included with this example are special charts and tables which make more rapid the drafting of directional drilling proposals and maps. Introduction A petroleum engineer must consider many and varied factors when planning a long range directional drilling program for an offshore or inaccessible location on an oil structure. The basic principles of direc- tional drilling planning and operation must be reconciled with his company's drilling practices, and frequently special concessions to standard drilling and production practices should be made. The field techniques and tools used in directional drilling are well known and widely used, but the deliberate, careful planning of a complete directional program is in the main a recent innovation. This development, plus the increased demand for oil resources and the consequent exploitation of inaccessible structures and offshore locations, has placed this problem before many engineering departments for the first time. Directional drilling programs of a very complex and difficult nature have been successfully carried out in the Mid-Continent and Pacific Coast regions. The planning itself of a directional drilling project, however, has not had the careful analysis it deserves and we can reasonably expect widespread future progress along thesc lines. Data and experience gained in these programs by the directional drilling service companies and the oil producers have been studied with the objective of giving the engineer a better conception of the factors which govern the various steps in planning a series of directional wells. The newest engineering procedures are the result of recent careful analysis of years of directional drilling work accomplished under the supervision of directional drilling service companies working with the oil companies. The purpose of this paper is to illustrate

Jan 1, 1949

By George C. Lipsey

FOR many years the mining of coal and other minerals occurring in sedimentary formation has been planned according to information obtained by diamond drilling. Placer mines have used churn drills for sampling and estimating deposits, and some metal mines have used the method either wholly or in part. The diamond drill method, therefore, although not entirely new, has come into more prominence in the last few years. Several large-scale developments now being planned or in the production stage have used this method in varying degree. This paper will describe the operations of the Howe Sound Exploration Co., Ltd. at Snow Lake, Manitoba, where a gold mine was developed and equipped for mining and milling wholly on the basis of diamond drilling results. The property has been in operation nearly 3 years, so that results can be compared with the estimates and assumptions made from the diamond drilling. In developing the subject it is necessary to outline as briefly as possible the normal method of mining, from discovery to production stage. Table I sets forth these various stages, the methods of financing, the percentage of total cost, and the relative time interval required for each section of the work. The plan presented in this table cannot be applied to all mining developments, but it gives a basis on which to work. In Stages 2 and 3 the investment is moderate, and if the property does not respond favorably the options or interests can be terminated. Stage 4 represents a sizeable investment, and it is more difficult to drop the property after this part of the operation is completed. Stages 2, 3, and 4 may be repeated several times by diflerent groups or companies before Stage 5 is reached, but when Stage 5 has been started the total capital investment must be provided and there can be no turning back. It will be noted that there is a total of 116 units of investment in the overall cost if one company proceeds with Stages 2, 3, 4, and 5 in order. Stage 4, however, consumes time which is important when markets are being considered. Bringing a property into production when metal prices are low is much more difficult than when the prices are high, and if this stage can be set aside production is attained more quickly. When Stage 4 is eliminated the total becomes 86 units of cost for Stages 2, 3, and 5, but an adjustment of 14 units must be added to Stage 5. These 14 units represent the useable value of Stage 4. Thus Stage 4 represents an investment of 30 units if carried on before Stage 5, but 14 units if included with Stage 5. This is accounted for by the fact that development work can be accomplished more cheaply under Stage 5, since everything that is done is planned on a production basis with permanent services. Stage 4 must of necessity be governed by expenditures, and a great many temporary services, including housing and power plants, must be provided. The prospect shaft is a small one, and drifts,

Jan 1, 1953

By George C. Lipsey

FOR many years the mining of coal and other minerals occurring in sedimentary formation has been planned according to information obtained by diamond drilling. Placer mines have used churn drills for sampling and estimating deposits, and some metal mines have used the method either wholly or in part. The diamond drill method, therefore, although not entirely new, has come into more prominence in the last few years. Several large-scale developments now being planned or in the production stage have used this method in varying degree. This paper will describe the operations of the Howe Sound Exploration Co., Ltd. at Snow Lake, Manitoba, where a gold mine was developed and equipped for mining and milling wholly on the basis of diamond drilling results. The property has been in operation nearly 3 years, so that results can be compared with the estimates and assumptions made from the diamond drilling. In developing the subject it is necessary to outline as briefly as possible the normal method of mining, from discovery to production stage. Table I sets forth these various stages, the methods of financing, the percentage of total cost, and the relative time interval required for each section of the work. The plan presented in this table cannot be applied to all mining developments, but it gives a basis on which to work. In Stages 2 and 3 the investment is moderate, and if the property does not respond favorably the options or interests can be terminated. Stage 4 represents a sizeable investment, and it is more difficult to drop the property after this part of the operation is completed. Stages 2, 3, and 4 may be repeated several times by diflerent groups or companies before Stage 5 is reached, but when Stage 5 has been started the total capital investment must be provided and there can be no turning back. It will be noted that there is a total of 116 units of investment in the overall cost if one company proceeds with Stages 2, 3, 4, and 5 in order. Stage 4, however, consumes time which is important when markets are being considered. Bringing a property into production when metal prices are low is much more difficult than when the prices are high, and if this stage can be set aside production is attained more quickly. When Stage 4 is eliminated the total becomes 86 units of cost for Stages 2, 3, and 5, but an adjustment of 14 units must be added to Stage 5. These 14 units represent the useable value of Stage 4. Thus Stage 4 represents an investment of 30 units if carried on before Stage 5, but 14 units if included with Stage 5. This is accounted for by the fact that development work can be accomplished more cheaply under Stage 5, since everything that is done is planned on a production basis with permanent services. Stage 4 must of necessity be governed by expenditures, and a great many temporary services, including housing and power plants, must be provided. The prospect shaft is a small one, and drifts,

Jan 1, 1953

By E. E. Schumacher, G. S. Phipps, H. M. Bouton

The seriousness of the present tin scarcity has stimulated large consumers of this vital metal to develop drastic conservation measures in order to extend the available supplies to cover the emergency period. By devising new soldering methods and alloys the Bell System has contributed a substantial share in the tin conservation effort. Fortunately, the changes, as far as can be determined now, have not introduced weakness into the soldered joints. Some of the new procedurcs were already in the process of development at the onset of the emergency, while others were devised under its stress. In some instances, the newly developed solders were found to be more difficult to use than the alloys previously available, and would not have been introduced under normal conditions. One major change made that previously had been under consideration will result in large savings of tin. Unless service difficulties are encountered, this modification gives promise of remaining after the emergency has passed. The change involves a reduction in the amount of solder placed on a wiped joint between the cable sheath and the sleeve. Instead of the customary full sized wiped joint, a wipe of fillet proportions is formed. Through this change, a solder saving of more than 60 per cent per joint can be realized. Plumbers and cable splicers for many years have joined lead pipes and cable sheath by a soldering process called " wiping." The name is an apt description of the operation. For a wiped joint, the sections to be united are heated by molten solder poured over their surfaces, and the resulting semiliquid mass is manipulated by wiping with cloth pads to a well rounded symmetrical form like the one shown in Fig. I. The operation requires considerable skill on the part of the splicer and close control of the composition of the solder. At first consideration, the problem of tightness in such joints seems simple but experience shows that even under the best conditions the fissures frequently found in the solder occasionally link and form a path that allows leakage to occur. In telephone cables not maintained under gas pressure, such leaks permit the entrance of water, which wets the paper-covered conductors and thereby impairs the insulation value and causes service interruptions. Ry going to an extreme and wiping off all the solder in excess of a fillet, it has been found that many causes of porosity are eliminated. Figs. 2 and 3 show cross sections of joints wiped in the old and the new ways. The saving in solder, and consequently in strategic tin, is evident. The field splicing forces find that joints are easier to make by the new method and are less likely to be porous. The metallurgical considerations that are responsible for the success of the fillet wipe are of interest. Much has been written about the wiping process of soldering cable joints and the many requirements of a good wiping solder have frequently been listed. The success of the procedure described

Jan 1, 1943

By G. S. Phipps, E. E. Schumacher, G. M. Bouton

THE seriousness of the present tin scarcity has stimulated large consumers of this vital metal to develop drastic conservation measures in order to extend the available supplies to cover the emergency period. By devising new soldering methods and alloys the Bell System has contributed a substantial share in the tin conservation effort, Fortunately, the changes, as far as can be determined now, have not introduced weakness into the soldered joints. Some of the new procedures were already in the process of development at the onset of the emergency, while others were devised under its stress. In some instances, the newly developed solders were found to be more difficult to use than the alloys previously available, and would not have been introduced under normal conditions. One major change made that previously had been under consideration will result in large savings of tin. Unless service difficulties are encountered, this modification gives promise of remaining after the emergency has passed. The change involves a reduction in the amount of solder placed on a wiped joint between the cable sheath and the sleeve. Instead of the customary full sized wiped joint, a wipe of fillet proportions is formed. Through this change, a solder saving of more than 60 per cent per joint can be realized. Plumbers and cable splicers for many years have joined lead pipes and cable sheath by a soldering process called "wiping." The name is an apt description of the operation. For a wiped joint, the sections to be united' are heated by molten solder poured over their surfaces, and the resulting semiliquid mass is manipulated by wiping with cloth pads to a well rounded symmetrical form like the one shown in Fig. I, The operation requires considerable skill on the part of the splicer and close control of the composition of the solder. At first consideration, the problem of tightness in such joints seems simple but experience shows that even under the best conditions the fissures frequently found in the solder occasionally link and form a path that allows leakage to occur. In telephone cables not maintained under gas pressure, such leaks permit the entrance of water, which wets the paper-covered conductors and thereby impairs the insulation value and causes service interruptions. By going to an extreme and wiping off all the solder in excess. of a fillet, it has been found that many causes of porosity are eliminated. Figs. 2 and 3 show cross sections of joints wiped in the old and the new ways. The saving in solder, and consequently in strategic tin, is evident. The field splicing forces find that joints are easier to make by the new method and are less likely to be porous. The metallurgical considerations that are responsible for the success of the fillet wipe are of interest. Much has been written about the wiping process of soldering cable joints and the many requirements of a good wiping solder have frequently been listed. The success of the procedure described

Jan 1, 1943

By H. M. Bouton, G. S. Phipps, E. E. Schumacher

The seriousness of the present tin scarcity has stimulated large consumers of this vital metal to develop drastic conservation measures in order to extend the available supplies to cover the emergency period. By devising new soldering methods and alloys the Bell System has contributed a substantial share in the tin conservation effort. Fortunately, the changes, as far as can be determined now, have not introduced weakness into the soldered joints. Some of the new procedurcs were already in the process of development at the onset of the emergency, while others were devised under its stress. In some instances, the newly developed solders were found to be more difficult to use than the alloys previously available, and would not have been introduced under normal conditions. One major change made that previously had been under consideration will result in large savings of tin. Unless service difficulties are encountered, this modification gives promise of remaining after the emergency has passed. The change involves a reduction in the amount of solder placed on a wiped joint between the cable sheath and the sleeve. Instead of the customary full sized wiped joint, a wipe of fillet proportions is formed. Through this change, a solder saving of more than 60 per cent per joint can be realized. Plumbers and cable splicers for many years have joined lead pipes and cable sheath by a soldering process called " wiping." The name is an apt description of the operation. For a wiped joint, the sections to be united are heated by molten solder poured over their surfaces, and the resulting semiliquid mass is manipulated by wiping with cloth pads to a well rounded symmetrical form like the one shown in Fig. I. The operation requires considerable skill on the part of the splicer and close control of the composition of the solder. At first consideration, the problem of tightness in such joints seems simple but experience shows that even under the best conditions the fissures frequently found in the solder occasionally link and form a path that allows leakage to occur. In telephone cables not maintained under gas pressure, such leaks permit the entrance of water, which wets the paper-covered conductors and thereby impairs the insulation value and causes service interruptions. Ry going to an extreme and wiping off all the solder in excess of a fillet, it has been found that many causes of porosity are eliminated. Figs. 2 and 3 show cross sections of joints wiped in the old and the new ways. The saving in solder, and consequently in strategic tin, is evident. The field splicing forces find that joints are easier to make by the new method and are less likely to be porous. The metallurgical considerations that are responsible for the success of the fillet wipe are of interest. Much has been written about the wiping process of soldering cable joints and the many requirements of a good wiping solder have frequently been listed. The success of the procedure described

Jan 1, 1943

By E. B. Snyder, H. M. Kraner

This paper shows that volume stability, low porosity and decreased pyroplasticity are desirable for blast-furnace linings, partitularly for the hearth. It shows further that a hot load test is a valuable means of testing the fusion or softening behavior of a refractory at operating temperatures. The effect of carbon monoxide on commercia1 blast-furnace refractories in their as-received condition and after refiring is reported, showing that many commercial blast-furnace refractories disintegrate badly but that refiring decreases the effect and certain special refractories are now available which are almost free of the tendency. Factors Affecting Choice of ._ Refractories If one were to depend entirely upon experience or trial in the selection of clay refractories, the solution of a problem would be a slow process. Furnace campaigns are so long and attended by so many variables that it is difficult to draw fine distinctions within a reasonable period of time in regard to the quality of refractories used. It could be said, of course, that if service results do not yield the proper information for intelligent choice, there is no difference in the quality of brick being considered, but this is not necessarily true. Conventional ceramic tests are designed to give the ceramic engineer information as to the refractoriness and firing tempera- . ture, which he in turn internrets in terms of volume stability, ability to withstand load at high temperature (pyroplasticity), permeability, chemical stability and re-. sistance to the action of slag. In most refractory applications . several of these factors are involved. In a particular instance, one requirement may be predominant, while in others some other factors may be of primary importance. In this country, clay refractories are generally made from mixtures of plastic and flint fire clays. The process of firing a clay refractory is one of slowly melting the constituents, and during this operation its porosity is gradually reduced. The process is arrested, of course, in its incipient Stages and the Progress is determined by measuring slight changes in porosity, volume, bulk gravity, etc., that have taken place. Often the temperatures to which clay refractories are exposed in service are higher than those employed in their firing. However, if the manufacturer were to fire them at such high temperatures the brick would distort. Therefore it would be difficult for the manufacturer to fire all of his clay refractories to temperatures at which they are to be used, although in many cases it would be desirable from the user's point of view if he would do so. The porosity of clay refractories decreases by firing, to a minimum limit, after which a further increase in the temperature causes expansion in certain clay constituents and bloating in others. Both may occur in the same refractory containing two such clays.

Jan 1, 1944

By H. G. Doll

'This paper discusses a method and apparatus for determining the dip of formations traversed by a drill hole, by means of electrical measurements in the hole. The process consists in recording the Spontaneous Potentials present along three oriented generatrices in the hole. By comparison of the three curves thus obtained, after application of a correction factor to compensate for any deviations of the hole, the dip angle and the dip direction are determined. Excellent accuracy is obtained for dip angles over 10°. Because the method is simp1e and the apparatus rugged, the measurements are rapid and reliable; consequently, they can be made at all the levels that are of interest at any time after the well has been drilled. Mechanical cores are not needed to evaluate the dips. A convenient, time-saving procedure is to perform the dipmeter survey at the time the electrical log is taken, using for both operations the same cable and truck. Actual examples of results obtained in wells of the Gulf Coast area are given. Introduction The problem of determining the angle and direction of the dip of the strata traversed by a drill hole has practical interest, and sometimes vital importance, which need not be emphasized to the oil industry. The need for that type of information has existed ever since wells have been drilled. Certainly it has not subsided, in spite of the numerous inventions and improvements made in other fields of the art of drill-hole exploration. The few examples given in this paper are but illustrative of this fact. In the past, methods have been devised, and used, to solve this problem, but generally they have met with limited success, possibly because they failed more or less to answer the requirements of a modern age for fast yet accurate measurements. If accurate, the results were obtained at the cost of very tedious and lengthy operations. The new S. P.* dipmeter service offered to the oil industry is the result of exhaustive and in this particular field. In 1032 a dipmeter and electromagnetic teleclinom-eter service was made available. The apparatus employed then was of a rather delicate and costly construction, and the measurements had to be made with precautions sometimes difficult to secure on the rig. Although the information given by the electromagnetic dipmeter was limited to the direction of the dip, very interesting results were obtained in California, Trinidad, Venezuela, Rumania and, most notably, in the Netherlands East Indies.+ Apparatus The S. P. dipmeter surveys present none of the drawbacks mentioned above. The apparatus is rugged and free from constructional complications, therefore well adapted to field use. This, combined with the new, basically simple approach to the problem, explains the rapidity of execution of the measurements. The results are remarkably accurate and they are complete, giving the

Jan 1, 1946

By H. M. Kraner, E. B. Snyder

This paper shows that volume stability, low porosity and decreased pyroplasticity are desirable for blast-furnace linings, partitularly for the hearth. It shows further that a hot load test is a valuable means of testing the fusion or softening behavior of a refractory at operating temperatures. The effect of carbon monoxide on commercia1 blast-furnace refractories in their as-received condition and after refiring is reported, showing that many commercial blast-furnace refractories disintegrate badly but that refiring decreases the effect and certain special refractories are now available which are almost free of the tendency. Factors Affecting Choice of ._ Refractories If one were to depend entirely upon experience or trial in the selection of clay refractories, the solution of a problem would be a slow process. Furnace campaigns are so long and attended by so many variables that it is difficult to draw fine distinctions within a reasonable period of time in regard to the quality of refractories used. It could be said, of course, that if service results do not yield the proper information for intelligent choice, there is no difference in the quality of brick being considered, but this is not necessarily true. Conventional ceramic tests are designed to give the ceramic engineer information as to the refractoriness and firing tempera- . ture, which he in turn internrets in terms of volume stability, ability to withstand load at high temperature (pyroplasticity), permeability, chemical stability and re-. sistance to the action of slag. In most refractory applications . several of these factors are involved. In a particular instance, one requirement may be predominant, while in others some other factors may be of primary importance. In this country, clay refractories are generally made from mixtures of plastic and flint fire clays. The process of firing a clay refractory is one of slowly melting the constituents, and during this operation its porosity is gradually reduced. The process is arrested, of course, in its incipient Stages and the Progress is determined by measuring slight changes in porosity, volume, bulk gravity, etc., that have taken place. Often the temperatures to which clay refractories are exposed in service are higher than those employed in their firing. However, if the manufacturer were to fire them at such high temperatures the brick would distort. Therefore it would be difficult for the manufacturer to fire all of his clay refractories to temperatures at which they are to be used, although in many cases it would be desirable from the user's point of view if he would do so. The porosity of clay refractories decreases by firing, to a minimum limit, after which a further increase in the temperature causes expansion in certain clay constituents and bloating in others. Both may occur in the same refractory containing two such clays.

Jan 1, 1944

By H. G. Doll

'This paper discusses a method and apparatus for determining the dip of formations traversed by a drill hole, by means of electrical measurements in the hole. The process consists in recording the Spontaneous Potentials present along three oriented generatrices in the hole. By comparison of the three curves thus obtained, after application of a correction factor to compensate for any deviations of the hole, the dip angle and the dip direction are determined. Excellent accuracy is obtained for dip angles over 10°. Because the method is simp1e and the apparatus rugged, the measurements are rapid and reliable; consequently, they can be made at all the levels that are of interest at any time after the well has been drilled. Mechanical cores are not needed to evaluate the dips. A convenient, time-saving procedure is to perform the dipmeter survey at the time the electrical log is taken, using for both operations the same cable and truck. Actual examples of results obtained in wells of the Gulf Coast area are given. Introduction The problem of determining the angle and direction of the dip of the strata traversed by a drill hole has practical interest, and sometimes vital importance, which need not be emphasized to the oil industry. The need for that type of information has existed ever since wells have been drilled. Certainly it has not subsided, in spite of the numerous inventions and improvements made in other fields of the art of drill-hole exploration. The few examples given in this paper are but illustrative of this fact. In the past, methods have been devised, and used, to solve this problem, but generally they have met with limited success, possibly because they failed more or less to answer the requirements of a modern age for fast yet accurate measurements. If accurate, the results were obtained at the cost of very tedious and lengthy operations. The new S. P.* dipmeter service offered to the oil industry is the result of exhaustive and in this particular field. In 1032 a dipmeter and electromagnetic teleclinom-eter service was made available. The apparatus employed then was of a rather delicate and costly construction, and the measurements had to be made with precautions sometimes difficult to secure on the rig. Although the information given by the electromagnetic dipmeter was limited to the direction of the dip, very interesting results were obtained in California, Trinidad, Venezuela, Rumania and, most notably, in the Netherlands East Indies.+ Apparatus The S. P. dipmeter surveys present none of the drawbacks mentioned above. The apparatus is rugged and free from constructional complications, therefore well adapted to field use. This, combined with the new, basically simple approach to the problem, explains the rapidity of execution of the measurements. The results are remarkably accurate and they are complete, giving the

Jan 1, 1946

A plan which has just been approved by President Wilson, by, the Secretary of the Navy, and the Naval Consulting Board, provides for the active cooperation of the Associated Advertising Clubs of the World with the 30,000 engineers who will soon undertake the task of making a card index survey of American industry, so that it may be prepared for national defense, if need comes. Herbert S. Houston, President of the Associated Clubs of the World comments on the plan. "Through the great power of advertising we expect-to arouse manufacturers, workingmen, businessmen, in fact the whole country, to the vital need of making industry the basic line of defense so that, if necessity arises, it can supply munitions quickly and abundantly. "This is not a war measure, but a peace measure. The militarist will support it and so will the pacifist, as well as the great body of Americans in between. So the slogan `national defense and international peace, has been adopted believing that the two causes will be best served by linking them together. "While the primary thing, of course, is service to the country, it is manifest that this work of the engineers will be of the greatest service to industry in times of peace. If industry is mobilized for defense, it will be placed on a basis of efficiency to meet the keen competition that will surely follow the present war." Howard E. Coffin, one of the leaders of the American automobile industry, in outlining the far-reaching plans of his committee, the Committee of Industrial Preparedness of the Naval Consulting Board, said: "At the outset I wish to emphasize the absolutely non-partisan nature of this work. I am not even familiar with the political affiliations of the great majority of the members of the Board or of my committee. In setting out to, mobilize the industrial resources of the United States, we are concerned only with the benefit to the nation, and to that end we have called into being an organization made up of the best technical and business brains of the country, and that organization will work along business lines with strictly business methods. I think it reasonable to say that this is a movement perhaps unique in the history of national governments, and one geared up to the highest standards of twentieth century efficiency. "It is vitally necessary that American industry be made aware of the part it must play in the national defense. Our whole conception of warfare has been changed almost overnight. Our military heads at Washington are largely, of course, graduates of the very best technical schools, have been taught the profession of fighting, and are masters of that profession. As members of the Naval Consulting Board, we are unable to tell these men how to do their work. But while these departmental heads have lived with military problems all their adult years, we on the other hand have slept and eaten and lived with the industrial problems of the country. The two questions are wholly distinct, and the masters of one cannot possibly be the masters of the other. We are confronted then with the necessity of interlocking these two vast elements of our national life into a great working organization for the national defense. It is that which we are about to do.

Jan 5, 1916