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By Joseph E. Pogue

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

Jan 1, 1946

By Christian F. Baiz

INTRODUCTION Industrial minerals can have similar financing requirements to those needs of metaliferrous and coal mining projects. One of the outstanding differences is the understanding of the many different markets that these industrial minerals represent. There are in excess of 30 principal industrial minerals ranging in terms of annual production from the largest quantity such as sand and gravel, to possibly the smallest quantity of production of a legitimate industrial mineral which may be defined as industrial and rough gem diamond. (See Tables 1 and 2) Project finance techniques, analytical methods, and information requirements are covered elsewhere in this Chapter and Chapter 10. Some comments on equity finance aspects follow. EQUITY AMOUNT The amount of equity in a financing transaction provides a cushion to the lender in case the project runs into trouble. Generally speaking, the greater the amount of risk in a project, the more equity a lender will require. The amount of cash equity in a project financing transaction is between 25 and 40 percent. The amount of leverage (debt/equity) is negotiable based on such factors as the strength and extent of the sponsor's undertakings, of the project's economics, and the term of a strong sales contract. Naturally, a borrower seeks to obtain d loan with as little equity required as can be negotiated. Zero percent equity is usually associated with a take-or-pay contract (a hell-or-high- water unconditional commitment under which the purchaser must pay for the commodity as though it were shipped regardless of whether it is actually mined or shipped) with a financially strong corporate entity i.e., the parent company or an end user. As a take-or-pay contract is tantamount to a guarantee of payment, the banker views the credit basis of the loan as being other than the borrower's mining operation and therefore will analyze the creditworthiness of the institution purchasing the commodity on the basis of its corporate balance sheet. Do not confuse a take-or-pay contract with a take-if- tendered or take-and-pay contract. Another means in the United States of obtaining zero percent equity is the carved out production payment financing, typical of coal mine financing. This involves the sale, or conveyance, by the owner of the mineral property of a production payment to a nominally capitalized company. The nominally capitalized company is formed solely to buy the production payment and usually borrows 100 percent of the purchase price from a lender. Equity amounts of 10 to 20 percent generally are found in transactions which employ techniques such as an advance sale or a subordinated lease/loan. These agreements are viewed as quasi equity by most banks for several reasons. First, the proceeds represent a cash infusion early in the project's life - usually prior to the bank lending any funds. Thus, the repayment schedule is "behind" that of the bank debt. In the case of an advance sale, repayment is in the form of a long-term supply contract with favorable terms, usually priced close to the mining operation's costs. There is also usually a requirement that all costs of the project be paid for by the loan or equity, often making the sponsors financially responsible for any cost overruns. Cost overruns are a major risk in any project, large or small, and are often due to unforeseen factors such as wildcat strikes, a piece of faulty equipment, or any event which delays completion, e.g., remote location, weather, etc.. . The question of how overruns are covered can be negotiated. For example, in addition to the original debt/equity ratio of the project, there can also be a cost overrun ratio that will

Jan 1, 1985

By Michael Perch

The fact that coal is a complex organic material and heterogeneous in composition has made its study extremely difficult, particularly in regard to obtaining a fundamental concept of the processes involved in the formation of coke. It has been stated recently that coals are natural polymers and that in a complex reaction such as occurs during carbonization the differences between coals are quantitative and not qualitative. Such being the case, it would be expected, therefore, that a series of coals subjected to exactly the same conditions of coking would produce results that should be related quantitatively to the chemical analyses of the individual coals. In the past, however, this fact was not generally recognized and consequently many empirical test methods were devised for testing coals. The interpretation of the results obtained depended upon comparing a set of data with other data on coals of known characteristics. The testing procedure had to be con- ducted in precisely the same manner each time and not the least requirement in making the interpretation was experience. The test methods varied from those utilizing a gram of coal to the plant-scale tests in which one or more ovens were charged with the test coal. The aim had been principally to find some simple, inexpensive means by which the coke-making and other properties of coal could be predicted. It is not necessary to emphasize the importance of these endeavors, for anyone acquainted with the problems involved in the selection of coals for making coke is well aware of the time and expense involved in making a series of definitive tests.

Jan 1, 1949

By S. Shapiro, J. A. Ford

The crystallo graphy of several grains of the lamellar Ni-Ni3 B eutectic solidified under conditions appvoachirt equilibriun has been examined.. A preferred interlace relationship has been observed in this system which may be described as: A detailed study of this interface by means of an atomistic model reveals the interface Plane to be puckered and more accurately describable as: Analysis of the atomic configuration on these planes reveals that this interface conforms to the orientation criteria proposed for directionally solidified lanzellar eutectics. In addition, a model is proposed to help explain the growth of a "puckered" interface. DURING the past several years an increasing number of unidirectional solidification experiments on eutectic alloys have been reported in the literature. The primary emphasis, in most cases, has been the effect of growth variables on microstructure. Some authors have, however, studied the crystallographic orientations and interfacial relationships resulting from these experiments. Four crystallographic studies have been published;'-4 in each of these there is a factor which tends to prohibit the extension of the observations beyond the particular system. In the Al-CuA12 system, the approximately equal volume fractions of the phases have resulted in sorrie controversy as to which phase constitutes the matrix. In the Mg-Mg,Sn eutectic the presence of several interconnecting lamellar systems2 complicates the analysis. The two remaining eutectics. 1nSb-b and Al-Ali, are both rodlike (the latter exhibits a plate morphology at low solidification rates): the matrix in each of these alloys is the simpler (fcc) phase. Studies of nucleation in eutectic alloys indicate that the more complex constituent is the nucleating -.phase.' For the purpose of an analysis of interface crystallography it was deemed desirable to study a lamellar system in which the matrix was the more complex and, presumably. the nucleating phase. Recently it has been shown that there is a eutectic in the Ni-B system between Ni3B and i; preliminary investigation by the authors indicated that the matrix in this eutectic is the boride phase. The structure of Ni,B is reported to be orthorhombic, the compound being isostructural with cementite. This eutectic is therefore analogous to that between austenite and cementite. Furthermore, the Ni-B system is not susceptible to a competing eutectic reaction as occurs in the Fe-C alloys; nor does it exhibit a eutectoid decomposition. For these reasons the study of the interfacial relationship in the Ni-Ni3B eutectic was undertaken. PROCEDURE Ingots of nominal composition 3.5 and 3.6 wt pct B were induction-melted in boron nitride crucibles within a graphite susceptor under a boric oxide slag; a dynamic argon atmosphere was maintained over the melt to prevent rapid oxidation of the susceptor. The raw materials used were 99.97 pct Ni from Huntington Metals Division of International Nickel Co. and 99.8+ pct B chips supplied by the United Mineral and Chemical Co. The analyses of the starting materials are listed in Table I. The melt was held at 1500cC for 2 hr to insure complete reaction and allowed to cool to room temperature. The castings were chemically analyzed for boron and were metallographically examined for uniformity. The metallographic samples were mechanically polished through 0.1 p A1,0, and etched with Carapella's reagent. Each master casting was cut up to make several specimen blanks which were remelted, in boron nitride crucibles, to form ingots of 1/2 to 3/4 in. in diarn by 7 in. long. These ingots were unidirectionally solidified using a modified vertical Bridgman technique. The rate of solidification was assumed to be equal to the uniform rate at which the crucible-susceptor assembly was withdrawn from the induction coil. This rate was varied from 1.18 to 2.21 cm per hr. In order to perform these experiments it was found necessary to redetermine the eutectic composition. This was accomplished by the zone-melting technique described by Yue and lark.' An ingot of 4.5 wt pct B was zone-melted in a horizontal boron nitride boat 7-1/2 in. long with a 112-in.-square cross section. A

Jan 1, 1967

By R. M. Goldhoff, H. J. Beattie

The high-temperature properties of a 1 Cr-Mo-V forging steel are described. A series of controlled heat treatments was designed to delineate the effects of austenitizing and tempering treatments, temile strength, and grain size on such properties. Studies indicate that the mechanical properties and their varlations under creep can be described by the initial metallurgical structures and their changes droPirzg exposure, particulavly the carbide reactions. Such structures are described and correlated with the mechanical properties. FOR many years the large steam turbine industry has relied on the 1 Cr-Mo-V type forging steel for critical applications. Because of its adequate heat resistance and relative economy, it is currently in use in the temperature range up to about 1050" to 1075°F. Attempts to understand the large property variations attainable in this steel involve the structural modifications due to the wide latitude in its heat treatment. The heat treatment essentially involves a two-step process which includes solution-ing of carbides in the austenite range followed by a suitable tempering treatment below the critical to adjust the level of properties. The latter step is referred to as "secondary hardening" and is basically an ordinary aging reaction involving carbides. In the commercial heat treatment of large components of such steel, homogenizing and stress-relief anneals may be included and have some importance in determining subsequent properties. Several studies of the engineering properties of this steel as a function of transformation micro-structure have been reported.1 3 However, in this steel the carbide reactions, which are a function of composition and heat treatment, appear to be the property-controlling factor rather than the micro-structure defined as a transformation product. Thus, the tempering resistance of this type of alloy steel is mainly a function of the size and distribution of alloy carbides.4 However, it is also necessary to consider the stability of the microstructure and the effect of dynamic carbide reactions on subsequent properties. It is the purpose of this paper to show the interdependence of properties and corresponding structures, particularly carbide reactions, developed for a limited set of controlled heat-treatment conditions applied to 1 Cr-Mo-V steel. MATERIALS AND PROCEDURE The material for this work came from a large production forging whose chemical composition is shown in Table I. The property data accumulated on this steel as a function of heat treatment were room-temperature tensile and smooth- and notch-bar creep rupture at 1050°F (notch geometry: shank diameter = 0.357 in., depth = 50 pct, radius = 0.005 in.). To achieve controlled structural variations the temperature and time of both austenitizing and tempering were varied in a manner to produce a series of eight steels each at one of two grain sizes and one of two hardness levels in proper combination for valid comparisons. This will be clear upon examination of Table I. Structural studies involved the use of optical and electron microscopy as well as X-ray and selected-area electron diffraction. To reveal the nature of carbide precipitations, electrolytic extraction techniques were used with subsequent analysis of the residue by X-ray diffraction. Weight losses of the steel specimens during electrolysis were measured and successive chemical fractionations of the residues were applied and checked by X-ray examination. The details of fine structural distributions, morphologies, and crystallography of the precipitates as well as dislocation distributions were investigated by examining in the electron microscope three common types of preparation. a) Relief Replicas. Mechanically polished sections were etched in 2 pct nital, replicated with a nitrocellulose film, which was shadowed by chromium vapor deposited at a glancing angle of 20 deg. b) Extraction Replicas. A thin film of carbon was vapor-deposited on the polished and etched surface. The carbon films were then etched off and gathered on electron-microscope supporting grids. The carbides left imbedded in the carbon replica in their original distribution were then examined crystallo-graphically by selected-area electron diffraction. c) Thin Films. Specimens were mechanically ground and polished down to a thickness of 0.001 to 0.003 in. Final thinning was done electrolytically in a "chrome-acetic" electrolyte. When holes began to appear in the foil, the voltage was interrupted and applied in several 1-sec bursts. Sections of the foil between holes were thin enough to pass a 100-kv electron beam that carries an image.

Jan 1, 1965

By D. J. Rose, W. M. Armstrong, A. C. D. Chaklader

The wetiability of single crystals of MgO by specimens of vacuum-cast iron was studied using the sessile drop technique in vacuo at 1550ºC. Formation of FeO at the liquid-vapor interface caused the contact angle (6) to decrease from 117 to 65 deg during the first minute. After cooling, all specimens possessed a peculiar annular interfacial deposit of Fe,O,. Within the annulus the interface showed no sign of chemical attack. Chemical reaction occurred where the iron was alloyed with Ti, V, Cr, Nb(Cb), Ta, cmd Zr. Vnriation of 6 with alloy concentration was studied. Although vanadium md chromium improved the wettability of MgO by iron, the effect of Zr, Ti, Nb, and Ta was indeterminable because the 8 derived from sessile drop considerations was that of the metal against a restrictive peripheral volume of liquid oxide wetting the substrate. INTEREST in the nature of metal-ceramic interactions has been stimulated by progressive development of metal-ceramic combinations. One of the more valuable methods used for bond investigation is the sessile drop technique. Recent attempts to improve wettability through solute additions to the drop have revealed that the solute may a) react with the oxide creating new compounds at the solid-liquid interface, b) adsorb at the interface in a monolayer formation, or c) distribute throughout the drop uniformly causing no wettability variation. This work, part m in a series1,2 of investigations of interface reactions between metals and ceramics, embraces a study of the Fe-MgO system. MgO possesses a large negative free energy of formation (-173 kcal per g mole 0, at 1550ºC) compared to FeO at this temperature (-73 kcal per g mole 02). Hence the electronegativity difference between the drop and substrate allows selection from an extensive group of metal solutes with intermediate electronegativity differences that would, in the absence of chemical reactions, be expected to adsorb pre- ferentially at the solid-liquid interface. However, the high oxygen pressure of MgO in vacuo creates an oxidation environment which influences the solute behavior. Recent studies of the Fe-MgO systemJ74 have been restricted by chemical reactions that obscured observations. In view of the current interest in liquid-phase sintering of metal-ceramic combinations under partial oxidizing conditions,5 a more comprehensive study of the Fe-MgO system seemed beneficial. EXPERIMENTAL PROCEDURE 1) Specimen Preparation. Optical-grade MgO single crystals and Ferrovac vacuum-cast iron were used in all experiments. A spectrographic analysis of the iron indicated 0.008 C, 0.05 V, 0.005 Mo, 0.01 Ti, 0.002 S, 0.01 Cr, 0.001 Mg, 0.01 Si, 0.003 A1 (wt pct). The MgO crystals were cleaved along (100) planes into plates approximately 20 by 20 by 1 mm. Following annealing in vactto at 1100°C for 3 hr, surface irregularities were removed by a chemical etch in phosphoric acid at 100°C. The iron rod was machined into small cylinders approximately 0.250 in. in diam and length and these were carefully cleaned in organic and acidic solutions to remove surface impurities. All specimens were weighed to the nearest 0.1 mg. 2) Apparatus. The apparatus described in detail by previous authors1,2 was modified for this work. A Polaroid Land Camera was incorporated into the optical system so that drop measurements at ten-second intervals after melting were possible with ultra-high-speed self-develop ing film. 3) Procedure. The iron cylinders were placed upright on the MgO plates and positioned in the molybdenum susceptor. After furnace assembly the system was pumped down to a vacuum of 1 µ and flushed with H2 at 800°C. The system was again evacuated to 5 x 10-5 mm of mercury and the temperature raised to 1550°C within 2 min. The molten drops were photographed at appropriate time intervals. TWO min after melting the iron vapor pressure caused gas discharge, or corona, within the tube. The specimens were then slowly cooled to room temperature, sectioned and examined metallographi-cally. X-ray identification of interfacial reaction products was attempted by the powder diffraction technique. Alloying elements (Ti, V, Cr, Zr, Ta, Nb) were added to the iron in various concentrations up

Jan 1, 1963

By Basil B. Zavoico

ALTHOUGH the American petroleum industry was affected by the Second World War from its early beginning it was not until Dec. 7, 1941- that the industry was placed on full war footing. Even throughout most of 1942 the American overseas operations were limited and not until late in the year did expansion of military activities, more particularly the offensive in North Africa, affect the domestic supplies to such an extent that critical deficiencies developed locally in this country, particularly along the East Coast. The definite outlook for greatly expanded offensive operations by the United States on both Atlantic and Pacific fronts makes certain that during 1943 the domestic situation will. not be alleviated; rather it may become even more critical even though additional transportation facilities, now being built and planned. will be completed from the southwestern producing states to the East Coast.

Jan 1, 1943

By P. D. Merica

The remarkable phenomena exhibited by the aluminum alloy known as duralumin were discovered during the years 1903-1911 by A. Wilm1,2 and have been described by him and by others. 3 4 5 6 The unusual feature of this alloy is the fact, as was shown by Wilm, that it can be hardened quite appreciably by quenching from temperatures below its melting point followed by aging at ordinary temperatures, which consists merely f allowing the material to stand at these temperatures. The hardness is not produced by the quenching alone but increases during the period of aging, which may be from one to three days. Cohn3, 5 gives data showing the increase of hardness of duralumin during aging, after quenching in water from about 450° C. Upon annealing, the alloy so hardened by aging is softened exactly as is hardened steel. The composition of this alloy usually varies within the following limits: Copper, 3 to 4.5 per cent.; magnesium, 0.4 to 1.0 per cent.; manganese, 0 to 0.7 per cent.; aluminum, balance; iron (as impurities), 0.4 to 1 per cent.; silicon, 0.3 to 0.6 per cent. Its density is about 2.85. It is used only in the forged or rolled condition. This alloy has been produced for some years commercially and is in demand for the fabrication of parts for which both lightness and strength are required, such as for aircraft. Its tensile strength will average 50,000 to 60,000 lb. per. sq. in. (3515 to 4218, kg. per sq. cm.) after appropriate heat treatment, such as that described by Wilm.

Jan 6, 1919

By R. M. Schuller, J. J. Suloway, W. F. Childers, R. A. Griffin, S. J. Russell

Seven solid wastes from coal conversion processes were characterized chemically and mineralogically. The wastes included three Lurgi gasification ashes, two liquefaction residues (SRC and H-coal), a fly ash, and a water-quenched slag. Leachates generated from the solid wastes at various pH levels over the range 2.5 to 11.0 were analyzed for over 40 constituents. Results of the leachate analyses demonstrate the wide variation in constituent solubility for the solid wastes. To help assess the environmental impact of the disposal of these wastes, the leachates were also employed in soil attenuation studies and acute 96-hr static bioassays using young fathead minnows.

Jan 1, 1981

By Richard P. Rothwell

REVOLING slime-tables with stationary sprays and oscillating brushes have for many years been a favorite apparatus used for working slimes in German dressing-works, often displacing Rittinger tables and the many variations of Cornish buddles. The difficulty of building these tables larger than 5 1/2 meters (17 feet) in diameter, increasing the cost and making them unwieldy, rendered it necessary also to concentrate the slimes in several operations, because the travel over so short a length of hearth would not suffice for close concentration. A preliminary sizing is effected in a system of spitzkasten. Herr C. Linkenbach, general manager of the Ems Lead and Silver Works, Germany, devised a buddle, in 1878, which has since worked well and found much favor in Germany, and has been in one instance copied here, at Colorado Springs, without any credit having been given to the original inventor. Linkenbach's plan has been to reverse the functions of the table and the washing apparatus of the old German revolving table. He makes the tables stationary and rotates the washing apparatus,, thus enabling him to save in power, and, within certain limits, to increase the dimensions of the table, without in any way affecting its durability or materially increasing its cost. In its earlier form, the buddle was single, and that type is still

Jan 1, 1883

By George C. Gibbons

ALMOST everyone in any of the five counties embracing the great East Texas field depends heavily upon oil for his living whether or not he actually owns a well or piece of royalty himself. Oil is a natural resource that, when utilized, spreads its benefits over a vast area and into many channels. Depending then almost entirely upon agriculture: what is now known as the East Texas oil field a decade ago had a scattered farming population. For many of its people, tomatoes and other vegetable crops coupled with the old southern stand-by of cotton, furnished an adequate living and a small cash surplus. Some farm families on the red hills, however, were not far re- moved from the sowbelly and black- eyed peas, or cornpone and potlikker, standard of living. Kilgore of that day, was a village of less than 850 per- sons. Longview, with just over 5000, apparently had reached the limit of its growth. Tyler was an overgrown farming town of around 17,000 persons, de- pending largely upon the agricultural income of Smith County and surrounding territory for which it was a trading center.

Jan 1, 1941

These springs arc situated on the south bank of the river about four miles below the City of Great Falls. In addition to the spring on the bank there are several in the bed of the river. Estimates on the flow of all these vary from 350 to 600 cubic feet per second, and as the temperature is practically constant at 53° F. throughout the year, the effect on the river water is to prevent the formation of anchor ice at the Rainbow Fails power development below, trouble of this source being in evidence every winter at the Black Eagle Falls above. Geologists claim that the water of the Giant Springs is derived from seepage through an old pre-glacial channel of the Missouri River now occupied by Sand Coulee, five miles up-stream from Great Falls. The water in this buried channel seeps through the flat-lying sandstone of the region and again unites with the present stream at the site of the springs.

Jan 1, 1913

By Carl Wagner

This paper contains solutions of the differential equation of diffusion in binary alloys if the diffusion coefficient is an exponential function of the concentration of one of the components. THE general differential equation for one-dimensional diffusion in a binary system can be written as: where c is the concentration of one of the two components in any suitable units; x, the distance from a reference plane; t, time; and D, the diffusion coefficient. Hartley and Crank&apos; have pointed out that eq 1 with conventional length units for measuring the distance x holds only if the alloy can be regarded as a rigid framework. In general, this is not the case, especially if the lattice parameter varies appreciably with composition. If a modified coordinate system is used instead of an orthodox system based on the centimeter a:: length unit, eq 52 is obtained, which has the same general form as eq 1 and is generally valid. The necessary transformations are presented in the appendix. If&apos; D is independent of concentration, analytical solutions of eq 1 are known for numerous boundary conditions. If D depends on concentration, solutions based on known analytical functions are not available. Among others, Boltzmann2 and Matano3 have shown that the concentration c depends only on (x/t1/2) in the case of diffusion between two semi- infinite spaces with uniform initial concentrations: c = c, for x < 0, t = 0, i.e., x/tl/2 = — x [21] c = c2 for x > 0, t = 0, i.e., x/tl/2 = + a Moreover, Boltzmann and Matano have shown how D may be calculated as a function of concentration over the whole range of composition from c -c, to c = c2 if c as a function of (x/t1/2) for the initial conditions stated in eq 2 has been determined experimentally. Thus, for instance, in principle, the diffusion coefficient in silver-gold alloys may be calculated as a function of concentration for the whole range of composition from only one diffusion experiment with a couple of pure silver and pure gold welded together. If the diffusion coefficient D as a function of concentration c is known, a solution of eq 1 for boundary conditions as stated in eq 2 with arbitrarily chosen values of c, and C2 may be wanted. For instance, if the diffusion coefficient in an alloy A-B as a function of concentration has been derived from an experiment with a diffusion couple involving 0 and 30 pct B as initial. concentrations, the calculation of the concentration distribution in a diffusion couple involving other initial concentrations, e.g., 5 and 20 pct B, may be desired. This problem may be solved by numerical or graphical integration of eq l. The solution of an ordinary differential equation of second order, which results from using (x/t1/2) as an independent variable, can be computed quite rapidly if two conditions for the same value of the independent variable are given. In eq 2, however, two conditions are given for two

Jan 1, 1953

By C. R. St. John, R. W. Lindsay, Charles R. Austin

Many of the factors influencing the creep behavior of ferrous alloys have been investigated and reported upon in the literature, including such variables as grain size, steelmaking practice, nature and stability of the microstructure, and the effect of alloying elements in steels. However, with respect to the latter, the microstructures involved are usually heterogeneous and as a result the effect of the addition is related to its effects on the various phases present in the microstructure. In the instances where this structure consists of ferrite and carbide, the behavior of the alloy addition will be related to its action in strengthening ferrite and in opposing temperature softening of ferrite as well as coalescence of carbide. The present paper is the third in a series comprising a comprehensive review of investigations on the properties of iron binary alloys.l,2 Its purpose is to describe the results of isolating one microstructural phase, namely ferrite, and studying its creep characteristics in both the unalloyed and alloyed conditions. This should aid in establishing to a large degree the importance of ferrite in the creep behavior of steels consisting of the previously mentioned ferrite-carbide aggregate. In view of the fact that the present investigation deals only with the effects of silicon, manganese, chromium, molybdenum, nickel, and cobalt, and to a certain extent with the effects of carbon, the review of previous literature will be confined to these elements. Practically no references were encountered dealing with the influence of these elements on the creep characteristics of the isolated phase. However, various contributions have dealt with the creep behavior of low-carbon steels alloyed with the elements under consideration. A particularly concise review in this respect is given by Bullens (Battelle)= and much of this material has been drawn upon. The definite improvement in creep resistance and high-temperature strength conferred by molybdenum is well known. Published suggestions by the A.S.M.E.4 permit of an increase of some 2000 to 5000 lb. per sq. in. in permissible design loads over a temperature range from 650" to IOOO °F. as a consequence of additions of 0.40 to 0.60 per cent of this element in carbon steels of the order of 0.25 to 0.35 per cent carbon content. Babcock and Wilcox Tube CO.5 has published data showing the pronounced increase in stress necessary to cause one per cent creep per 10,000 hr. when additions of 0.5 or I per cent molybdenum are made to a plain carbon steel. These data apply to temperatures over a range from 800° to1000°F. 4

Jan 1, 1945

By M. N. Short

It is almost self-evident that the student of geology depends for his education in geology only in small measure upon his own observation. His chief sources of information are lectures and personal instruction from teachers, and the geological literature. Of these, the literature is by far the most important. The total geological knowledge available to the geologist of today is substantially that which is on the printed page, and no more than that. There are many geologists of outstanding rank who during the course of a busy and useful professional career have accumulated valuable geological knowledge. This, however, is never available to the profession, owing to the disinclination of these geologists to write or to the refusal of their employers to allow the results of their work to be published. With the passing of these geologists, their accumulated knowledge is irretrievably lost. In many mining districts the operating companies are not averse to the publication of geological information gathered by their engineering and geological staffs, but for various reasons this information is not published. However, when a public survey geologist goes into the district this information is placed at his disposal and eventually is published. But for the intervention of a disinterested public scientist, this information would have been buried in company files. In the last analysis, the teachers themselves depend largely upon the printed page for the knowledge they pass on to the student. Without geological literature, then, the instruction of geological students would be almost impossible. There is no .question that, as a whole, geologists who are on the public payroll have to their credit far more contributions to literature than have either teachers or professional geologists, whether the latter be independent or in the employ of private corporations. The very fact that geologists are upon the public payroll places them under obligation to make available to the public the results of their endeavors. They must either prepare these results for publication or they must furnish data or otherwise aid their colleagues to publish their results. The success or failure of a public geological survey depends entirely on the

Jan 1, 1935

By M. N. Short

It is almost self-evident that the student of geology depends for his education in geology only in small measure upon his own observation. His chief sources of information are lectures and personal instruction from teachers, and the geological literature. Of these, the literature is by far the most important. The total geological knowledge available to the geologist of today is substantially that which is on the printed page, and no more than that. There are many geologists of outstanding rank who during the course of a busy and useful professional career have accumulated valuable geological knowledge. This, however, is never available to the profession, owing to the disinclination of these geologists to write or to the refusal of their employers to allow the results of their work to be published. With the passing of these geologists, their accumulated knowledge is irretrievably lost. In many mining districts the operating companies are not averse to the publication of geological information gathered by their engineering and geological staffs, but for various reasons this information is not published. However, when a public survey geologist goes into the district this information is placed at his disposal and eventually is published. But for the intervention of a disinterested public scientist, this information would have been buried in company files. In the last analysis, the teachers themselves depend largely upon the printed page for the knowledge they pass on to the student. Without geological literature, then, the instruction of geological students would be almost impossible. There is no .question that, as a whole, geologists who are on the public payroll have to their credit far more contributions to literature than have either teachers or professional geologists, whether the latter be independent or in the employ of private corporations. The very fact that geologists are upon the public payroll places them under obligation to make available to the public the results of their endeavors. They must either prepare these results for publication or they must furnish data or otherwise aid their colleagues to publish their results. The success or failure of a public geological survey depends entirely on the

Jan 1, 1935

By James C. Fulton

Since publication of the First Edition of "Basic Open Hearth Steelmaking," in 1944, this book has been a major reference on the subject of steelmaking. The Second Edition of 1951 was so fundamental that it has retained its general usefulness to the present date. However, recently some of the material has been updated in connection with the writing of a companion book, "Electric Furnace Steelmaking." The sponsor of these two books, the Physical Chemistry of Steelmaking Committee, has felt that the new material should be made equally available to purchasers of either book. Accordingly the subject matter of Chapters 14, 15, and 16 of this new edition is duplicated by corresponding chapters in "Electric Furnace Steelmaking." It was also recognized that the use of oxygen in the open hearth and in the new basic oxygen processes represents a major development that should not be omitted from any basic reference. Thus the major new feature of this Third Edition is the supplement on "Oxygen in Steelmaking." The cooperation of the Iron and Steel Division&apos;s Acid Converter and Basic Oxygen Steel Committee (now merged to form the National Open Hearth and Basic Oxygen Steel Committee) is specifically recognized. In addition to the authors of chapters listed elsewhere, it should be noted that Arthur B. Wilder was the Committee Chairman. Although the changes in the Third Edition are important, the Committee cannot overlook the classic character of the Second Edition. This edition was edited by W. O. Philbrook and M. B. Bever in collaboration with H. B. Emerick and B. M. Larsen. It is anticipated that the Third Edition will maintain the value of the book until the current rapid changes in all basic steelmaking processes stabilize themselves sufficiently to justify a complete revision of the entire text in Part I. The experienced service of Wesley Burr in incorporating the new material in the index is also recognized.

Jan 1, 1964

By G. T. Jackson

The Alaska Gastineau Mining Co.&apos;s mine is located at Perseverance, about 4 mi. east of Juheau, Alaska. Its property consists of a group of claims, the lode system traversing these claims for a distance of 11,000 ft. (3352 m.). It is shown in Fig. 1. The ore deposits occur in what is known as the Juneau gold belt. This gold belt can be traced for about 50 mi. northwest of Juneau and 40 mi. southeast. It consists of a single band, several hundred feet wide, in which stringers and veins of quartz, carrying gold, occur in a slate formation near its contact with some altered volcanic rock known as greenstone. The Perseverance orebody consists of stringer lodes, having a strike northwest and southeast, dipping about 60° to the northeast. These

Jan 1, 1920

By K. Koneko, T. Nokoyama, S. Shibato

SEYBOLT et al.&apos; have detected various silica films formed on a 3 pct Si-Fe alloy after heating at low oxygen potentials with the electron diffraction method, and they have made some observations on the H,0/H2 ratios required to form them. The purpose of this note is to describe the structure of the oxide film formed on either mechanically or electrolytically polished surfaces of a 3 pct Si-Fe alloy containing small amounts of manganese after heating at low oxygen potential. The samples were prepared from a Si-Fe alloy made in the laboratory using electrolytic iron, 76 pct ferrosilicon, and 76 pct ferromanganese, vacuum-in-

Jan 1, 1969

By S. E. Bretherton

Mr. AllaW Gibb, of Mount Perry, Queensland, Australia, in an interesting and instructive paper,* describes fully the great difficulties metallurgists encounter in seeking to produce marketable copper by smelting refractory ores containing arsenic, antimony and bismuth. After reading this description, I prepared a paper for the Institute, which was, however, through a misunderstanding on my part, published in the San Francisco Mining and S&apos;cie~ztiJic Press of April 4, 1903, after its acceptance by the Council, and without credit to the Institute. Consequently, it cannot be reprinted for the Transactions of the Institute; and I can only here summarize its contents and conclusions, referring the reader to the article above named for further particulars. In that article I omitted the col~sideration of bismuth, which we do not encounter in our smelting at Val Verde, and added lead and zinc, which Mr. Gibb had not discussed; and I undertook to shorn, by the record of a year&apos;s practice of the Val Verde Copper Co., Arizona, that copper-ores containing arsenic, antimony, lead and zinc may be successfully smelted, without preliminary roasting, in an ordinary blast-furnace with hotblast, making a normal slag, such as one would aim to make under ordinary conditions with cold-blast, so as to produce a marketable matte, containing not less than 45 per cent. of copper, free from arsenic and antimony, and below the limit in lead and zinc penalized by the refineries.

Jan 1, 1904