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By Donald M. Liddell, G. C. RIDDELL

THE cosmic ray continues to engage the attention of the physicists, and according to Millikan and Compton, experiments of the past summer indicate that these rays must come from interstellar space, but not from the stars themselves. According to press reports of the International Congress of Physicists at Rome, the view was given there that these rays have an initiating potential of over 750,000.000 volts. In the field of spectrographic investigation great strides have been made. The U. S. Naval Research Laboratories (R. F. Mehl and G. E. Doan of Lehigh) have just finished a year's work with a "radium torch" or "shadowgraphic apparatus" in the field of the X-ray, that bids fair to displace the latter to a great extent. The torch is more powerful., easier to operate and cheaper. Penetration of 10 in. of steel has been accomplished, which. is much -beyond the- -scope-, of the X-ray..

Jan 1, 1932

By AIME AIME

MODERN metallurgy is an art and a science. The art is process metallurgy-extracting metals from their ores, refining them, and alloying them with one another and with certain nonmetals to produce thereby a variety of metallic materials which, owing to a wide range of useful properties, are for many purposes more valuable to man than the individual metals themselves; process metallurgy also includes shaping or otherwise treating metals and alloys to form objects useful to a complex industrial world. The science is physical metallurgy-organized knowledge of the constitution and internal structure of metals and alloys, of the relation of their composition and structure to properties, and of the laws, theories, and hypotheses that purport to explain this relation.

Jan 1, 1942

By H. F. Beardmore

PETROLEUM consumption during 1946 broke all previous records and further increases are expected during 1947. U. S. consumption amounted to an average of 5,280,000 bbl a day, of which 4,745,000 bbl was domestic crude oil, with the rest from natural gasoline production and crude oil imports. World consumption during the past year, excluding Russia, is estimated at 7,200,000 bbl daily. Forecasts for 1947 indicate a U. S. consumption of 5,425,000 bbl daily of petroleum products. This is expected to be made up of 4,655,000 bbl of domestic crude oil production, 340,000 bbl of natural gasoline production, 400,000 bbl of crude oil imports, and the rest from stocks. Petroleum's principal use is still as a fuel. The field remains highly competitive, but petroleum has been continuously progressing. Less than fifty years ago, oil supplied only one twentieth as much of the nation's total energy as coal, but today it supplies over half as much.

Jan 1, 1947

By Albert Sauveur

THE following experiments were conducted in order to study the influence of the rate of cooling through and below solidification on the dendritic structure (macrostructure) and microstructure of some hypoeutectoid steel. The steel selected was of commercial grade and had the following composition: C, 0.40 per cent.; Mn, 0.85; Si, 0.70; P, 0.099; S, 0.043. After melting in vacuum in an Arsem furnace, the various samples were allowed to solidify and to cool to room temperature as indicated in Fig. 1. Samples were thus obtained representing all possible combinations of slow and fast cooling through the various ranges of temperatures indicated, namely: (1), zone of solidification or primary crystallization, (2) zone of granulation, and (3) zone of secondary crystallization. The location of the different temperature zones in the iron-carbon equilibrium diagram is shown in Fig. 2. The authors adopted. Belaiew's notations. The designations of the various samples readily indicate their treatment, as will be apparent from Table 1.

Jan 1, 1930

About 1300 members and guests attended the Seventh Annual Mid-winter Convention of the American Institute of Electrical Engineers, which was held in the Engineering Societies' Building, New York, on Feb. 19 to 21. The opening session was a joint session with the American Institute of Mining Engineers, when welding was discussed. The various phases of standardization in engineering work were discussed by President Comfort A. Adams at the Thursday morning session. Thursday afternoon was spent in visiting. Some of the guests visited the Brooklyn Navy Yards, where they inspected the power plant, shops, dry, docks, etc. ; others visited the Bell System Laboratories of the Western Electric Co. The papers at the various technical sessions provoked considerable

Jan 4, 1919

By H. S. Munroe

The dressing-works of the St. Joseph Lead Company were destroyed by fire, February 26th, 1883. Within about four months, or on July 5th, 1883, the new mill, with a capacity of 500 tons per day, was built and in active operation. The capacity of the new mill has since been increased to 800 tons per day. The old mill was built in 1867, by Mr. C. B. Parsons, the present superintendent. It was a curious rambling old structure, which had grown with the demands of the business; a few jigs having been added in one place, a table or two in another and wings and sheds added to the main buildings, from time to time, as it was found necessary to increase the efficiency or the capacity of the mill. The old mill was, moreover, a most interesting place to the student, a perfect "museum of ore-dressing." Nearly every form of dressing apparatus known to the art had, at one time or another, found a place under its roof, jigs of many kinds, concave, convex, side-bump and stationary tables, tyes, buddles, dolly-tubs, etc., etc. The method of dressing followed in the main the lines of English practice, but with many modifications, both in the machinery and the methods of working, due to the inventive genius of Mr. Parsons. Different forms of crushing apparatus were tried, and the best method of handling the ore and the different products of

Jan 1, 1889

THE progress in lead smelting practice in the United States during 1930 has been along previously defined lines. Since most of the material treated is high-grade concentrate relatively high in zinc, practically all the plants have been forced to adopt double sintering. This generally results in there being' no matte fall, and most of the copper in the charge is recovered in the furnace dross. The furnace dross is . smelted with. scrap iron and flux .in small reverberatories, giving a shipping matte or speiss high in copper and low in lead. Details of this reverberatory. furnace practice vary at the different plants. There is a decided tendency toward moreintensive filtration of blast- furnace and sinter fume. Bag capacity has been in- creased by using higher pressures and more frequent shaking.

Jan 1, 1931

By M. W. Bartley, Hugh M. Roberts

Substantial deposits of Bessemer hematite have been found recently by drilling beneath Steep Rock Lake, Ontario, which is situated in the northern part of the Lake Superior Region. It will be practicable to divert the waters flowing into this lake and develop open pits on the upper pert of two large ore bodies by damming off and pumping out the water in the part of the lake in which they occur. Ultimately, the bulk of the ore will be mined by underground methods. Owing to the generally massive nature of the rocks in the area, no underground flows of major consequence are anticipated after diversion of the lake. The Steep Rock deposits are attributed in origin to hydrothermal replacement. They were formed, for the most part, along an unconform-able, brecciated contact between the Steep Rock limestone and an overlying younger volcanic series, The replacing solutions came in as igneous after-effects, following upon the intrusion of basic igneous rocks that invaded the hanging-wall volcanics. It is believed that this took place in a geological period roughly equivalent to late Middle Huronian, which was the period when the most extensive iron-bearing rocks of the Lake Superior Region were formed. Comparison is made with other deep-seated iron-ore bodies in the Lake Superior Region, the origins of which are ascribed in the discussion to hydrothermal replacement. Introduction Under the waters of Steep Rock Lake, Ontario, situated on the Canadian National Railway, 142 miles west of Port Arthur, the presence of three ore zones containing red and brown Bessemer hematite has been established. These were discovered and have been partly explored by means of diamond and churn drilling, The positions of the ore zones, designated as A, B and C, are shown on the accompanying maps and cross sections. This exploratory work, begun in 1938 by Joseph Errington* and Julian G. Cross, has been carried on by Steep Rock Iron Mines Ltd., and was continued during the winter of 1941-1942. For more than 60 years explorers have known that large quantities of hard hema. tite float of good grade existed along the south shore of Steep Rock Lake, and the presence of ore beneath the lake was inferred by many early geologists and explorers. Despite numerous previous attempts to find ore in place, actual discovery awaited the recent period of intensive exploratory effort in Canada. The results obtained in the drill holes put down since 1938 by steep Rock Iron Mines Ltd. are not only of interest, in themselves, to those concerned with the development of ore deposits, but, taken in connection with the surface exposures of adjoining formations, they form the assemblage of facts from which the geological reasoning in this paper proceeds; accordingly, they are set out here as briefly and exactly as may be.

Jan 1, 1949

By M. W. Bartley, Hugh M. Roberts

Substantial deposits of Bessemer hematite have been found recently by drilling beneath Steep Rock Lake, Ontario, which is situated in the northern part of the Lake Superior Region. It will be practicable to divert the waters flowing into this lake and develop open pits on the upper pert of two large ore bodies by damming off and pumping out the water in the part of the lake in which they occur. Ultimately, the bulk of the ore will be mined by underground methods. Owing to the generally massive nature of the rocks in the area, no underground flows of major consequence are anticipated after diversion of the lake. The Steep Rock deposits are attributed in origin to hydrothermal replacement. They were formed, for the most part, along an unconform-able, brecciated contact between the Steep Rock limestone and an overlying younger volcanic series, The replacing solutions came in as igneous after-effects, following upon the intrusion of basic igneous rocks that invaded the hanging-wall volcanics. It is believed that this took place in a geological period roughly equivalent to late Middle Huronian, which was the period when the most extensive iron-bearing rocks of the Lake Superior Region were formed. Comparison is made with other deep-seated iron-ore bodies in the Lake Superior Region, the origins of which are ascribed in the discussion to hydrothermal replacement. Introduction Under the waters of Steep Rock Lake, Ontario, situated on the Canadian National Railway, 142 miles west of Port Arthur, the presence of three ore zones containing red and brown Bessemer hematite has been established. These were discovered and have been partly explored by means of diamond and churn drilling, The positions of the ore zones, designated as A, B and C, are shown on the accompanying maps and cross sections. This exploratory work, begun in 1938 by Joseph Errington* and Julian G. Cross, has been carried on by Steep Rock Iron Mines Ltd., and was continued during the winter of 1941-1942. For more than 60 years explorers have known that large quantities of hard hema. tite float of good grade existed along the south shore of Steep Rock Lake, and the presence of ore beneath the lake was inferred by many early geologists and explorers. Despite numerous previous attempts to find ore in place, actual discovery awaited the recent period of intensive exploratory effort in Canada. The results obtained in the drill holes put down since 1938 by steep Rock Iron Mines Ltd. are not only of interest, in themselves, to those concerned with the development of ore deposits, but, taken in connection with the surface exposures of adjoining formations, they form the assemblage of facts from which the geological reasoning in this paper proceeds; accordingly, they are set out here as briefly and exactly as may be.

Jan 1, 1949

By O. E. Kiessling

THE Committee-on Production Control, at its meeting held during the last annual session in February, 1930, evidenced great interest in problems of stabilization affecting all mineral industries. . No immediate program of activity for the Committee as a- unit was decided on, however,, and efforts during the past pear have consisted lirgely of further stressing the economic aspects of mineral production and of the action by committee members, :.serving in their individual capacities, in sponsoring constructive changes, in specific, industries. Of greatest interest to the general subject of production control in 1930 was the very definite advance toward better coordination of demand and supply in the petroleum industry. Furthermore, since opinion both within and without the oil industry now favors a constructive program, and with a gradual change in legal precedents, it seems not unreasonable to expect greater progress in the near future.

Jan 1, 1931

By A. B. Kinzel

IT is with sincere appreciation and a deep sense of responsibility that I accept the honor of delivering the Howe Memorial Lecture. In our time metallurgical research has delved into phenomena ever more complex in character, so that much of this work must be done by organized teams. We, of the Union Carbide and Carbon Research Laboratories and the Electro Metallurgical Co., are truly a team and the lecture which is to follow is due largely to a few of the outstanding members of that team here cited and well known to you in their own right: John Lamont, whose work deserves special recognition, Walter Crafts, William Forgeng, William Binder, Robert Fowler, and David Swan. Thus it is a fitting pleasure to accept this honor for the research institution which I represent. Henry Marion Howe was truly inspirational and his breadth of view was such that he could use either the method of rigid proof or implied mechanism to further the broad understanding. But perhaps his outstanding characteristic was his sound judgment and his ability to weigh observations. The following is replete with observations and judgment as to their implication. We would like to feel that it is the type of dissertation which Howe, himself, would have enjoyed. Chromium carbides in stainless steel have, in a sense, been a key to the progress of the stainless steel industry. Brearley's first stainless steel, containing approximately 0.30 pct C, was successful because it differed from previous Fe-Cr alloys in that the carbides were present in such amount and form as to provide the stainless and cutting properties. Again, the 12 pct Cr die steels with a carbon content of 1.5 pct or more achieved their properties by virtue of the form and distribution of the chromium carbides. In the straight chromium steels with from 12 to 25 pct Cr, chromium carbide amount and distribution are once more the determinants with respect to physical properties and corrosion resistance. In each of the cases just cited the role of the carbide is in essence similar to that of iron carbide in carbon steel and this story is so well known that we need not dwell on it. In the austenitic stainless steels, the chromium carbide plays only a minor positive role with respect to mechanical properties, and for corrosion resistance the objective is to achieve maximum homogeneity. Thus the tendency has been to ever lower the carbon and correlatively the chromium carbide content of the austenitic steels. Today stainless steels with carbon less than 0.03 pct are beginning to find their true place, and this is being aided in major degree by our Company's introduction of a new type of ferrochromium having negligible carbon. The role of carbon in these austenitic steels has long been recognized, and a truly enormous amount of research has been devoted to the subject. Much has been learned about corrosion resistance, but the attack on the problem from the point of view of carbide precipitation and the nature thereof has left much to be understood. Because of its fundamental importance to the future of stainless steels, further study of the mechanism of carbide formation in austenitic steels is of interest. In the 18-8 Cr-Ni steels, which are typical of the austenitic class of steel, carbon is soluble in the aus-tenite to the extent of approximately 0.15 pct at 1832°F (1000°C). The solubility becomes less with decreasing temperature, so that at 1652°F (900°C) the solubility limit is approximately 0.06 pct, at 1472°F (800°C) it is about 0.03 pct, and at 932°F (500°C) it is approximately 0.01 pct. Obviously this is the ideal situation for the classical precipitation phenomenon. It is true that, in a sense, 18-8 austenite resulting from annealing is in a metastable state, and the phenomenon of ferritic precipitation from this austenite should be considered. However, in a so-called fully austenitic 18-8 steel this is secondary with respect to the carbides and can be neglected. A wide variety of chromium carbides is known. Only one chromium carbide, Cr,,C,,, frequently referred to as Cr,C, has been found in unmodified low carbon 18-8 steel. This, fortunately, simplifies the study of the precipitation phenomena. For this study an A.I.S.I. type 304 stainless steel of commercial quality was selected. Analysis showed C 0.07 pct, Mn 0.49 pct, Si 0.33 pct, Ni 9.34 pct, Cr 18.91 pct, and N 0.033 pct. As expected with this composition the steel was homogeneous after annealing except for a few pools of ferrite, which were disregarded in that their location was not coincident with subsequent carbide precipitation areas. On corrosion testing the steel was normal and typical of good commercial quality. Specimens 1/2xlx4 in. were annealed and subjected to precipitation heat treatment for 100 hr at 100" temperature intervals from 1000° to 1500°F and for ten selected intervals ranging from 5 min to 64 hr at 1300°F. These blocks were then cut into small pieces for metallographic studies. The first problem

Jan 1, 1953

THE research and policy committee of the Committee for Economic Development, a non-profit research organization composed of leaders in industry and the professions, including such prominent figures as Dwight D. Eisenhower, Paul G. Hoffman, and Charles E. Wilson, recently published a report entitled "How to Raise Real Wages." Since its founding in 1942 the CED has initiated many objective studies on matters of national economic policy, and has gained a fair measure of prestige from its activities. The CED's latest report cites the more than three- fold rise in real wages in the United States in the past 50 years and attributes the accompanying improvement in the standard of living to the great in- crease in production per man hour. The report states that in order for production to continue rising in the future with the attendant increase in real wages four basic conditions must be manifest: (1) better methods, (2) more capital, (3) better training of workers, and (4) better management. The report cautions that although prospects for increases in output per man hour are good "it is desirable that steps be taken to encourage such a rise."

Jan 8, 1950

By Frank L. Nason

(New York meeting, February, 1912) IN the year 1904 an eminent Swedish geologist prepared a report on the iron-ore reserves of the world. His estimates follow: Countries. Tons. United States, 1,100,000,000 Great Britain, . 1,000,000,000 Germany, 2,200, 000, 000 Spain, 500,000,000 Russia and Finland, 1,500,000,000 France, 1.500, 000, 000 Sweden, . 1,000,000,000 Austria-Hungary, . 1,000,000,000 Other countries, 1,200,000,000 Total, . 10,000, 000, 000 The iron-ore allotted to the United States by the Swedish geologist is barely sufficient to last 20 years at the present rate of consumption. On the other hand (according to Edwin C. Eckel,1 from whom the above and following statistics are quoted), there is hardly need for worry on the part of our iron industries for the, next two centuries or more. Upon the basis of careful work by the U. S. Geological Survey, in which Mr. Eckel has taken an important part, the following estimates arc definitely, but by no means finally, given for the United States District. Tons. Lake Superior District, . . 1,500,000,000 to 2,000,000,000 Alabama, red hematite. . . 1,000,000,000 brown hematite, 725,000,000 Georgia, red hematite, 200,000,000 brown hematite, 125,000,000 Tennessee red hematite, . 6110,000,000 I brown hematite, 225,000,000 Virginia., red hematite, 50,000,000 brown hematite, 300,000,000 Total, . . 4,725,000,000 to :5,225,000,000

Jul 1, 1912

By R. S. Handy

AT THE TIME of my first visit to Bolivia in 1927 the tin-mining industry was prosperous, the tin price at London being more than £300 per long ton of tin, and the operators were making every effort to bring their plants up to the very highest point of capacity as well as of efficiency. Any device or piece of equipment or method that gave promise of increasing production was welcomed regardless of the cost, and the plants were being modernized as rapidly as human ingenuity could make it possible. At the time of my second visit in 1932, however, conditions had changed materially. The price of tin had fallen to a little over £100 but costs had not decreased anywhere in proportion and operators were at their wit's end to cut the operating losses that were everywhere prevalent. Charles L. Bradbury, manager of the Empresa Minera de Huanuni, at Huanuni, Bolivia, had been recently called from Mexico to make all analysis of the situation and to attempt to work out a remedy for the economic conditions that threatened to close the mine. His analysis brought out the following points:

Jan 1, 1938

Jan 1, 1888

The Goodman Mfg. Co., Chicago, builders of underground electric mining machinery, celebrated its 50th Anniversary on April 23rd. The company has a complete line of cutting machines, loaders, conveyors, locomotives, and shuttle cars for service in both coal and metal mines. The Joy Mfg. Co. has received, under the provisions of the Economic Cooperation Administration, an initial order in excess of $1,000,000 for equipment to be used in the mechanization of iron ore mines in France. While the equipment will be used in various privately owned mines, the order was placed through the French Society for the Development of Mechanical Mining. Included in the equipment are the company's recently developed hard rock loaders and shuttle cars. American Brake Shoe Co. has consolidated all operations of its Canadian subsidiaries into one corporation, the Dominion Brake Shoe Co. Ltd., Montreal, Canada. The products of Dominion Brake Shoe include brake shoes, track equipment, manganese steel castings, automotive brake lining, air compressors, and paint spray equipment. Exhibits of more than 2000 electrical products, processes, and techniques, ranging from precise aircraft instruments to complex working models of steel mill, textile and other industry equipment, will be displayed in the "More Power To America Special" when it makes its nationwide tour this spring. C. H. Lang, Vice-President in charge of sales for General Electric's apparatus department, said that the train will visit the country's key industrial centers for inspection by utility and industrial executives and municipal leaders. The train will be hauled by an Alco¬G-E two-unit, 4000-hp., Diesel-electric locomotive which in itself will be part of the unusual series of displays. Sizing of Excavators and Hauling Equipment. The Power Crane and Shovel Association has released a 24-page bulletin dealing with the proper sizing of excavators and hauling equipment, Technical Bulletin No. 3. Rubber Conveyor Belting. "Installation, Care and Maintenance of Rubber Conveyor Belting" is the title of a booklet just published by the Carlyle Rubber Co., New York. Power Transformers. The manufacturing procedure of Allis-Chalmers small power transformers is described in a new 28-page bulletin, 61B6094A, covering the core and coil unit, no-load tap changer, tank construction, cooling methods, oil preserving systems, bushings, terminal compartments, indicators and testing of transformers. Safety Equipment. General Scientific Equipment Co., Philadelphia, has released a 46-page, fully illustrated catalog on personal protective equipment and industrial safety devices. This new catalog covers respiratory devices, eye protection, hats, gloves, carboy pumps, drum pumps, and miscellaneous safety equipment for use in mines, industries, etc. Osmosalts. The Osmose Wood Preserving Co., Buffalo, N. Y., has issued a bulletin on Osmosalts, the wood preservative which, say the manufacturers, makes timber last three to five times longer, slashes maintenace costs, stops rot, and resists wood-destroying insects. Jigs. The Dorr Co. has acquired the Pan American jigs and they are now known as the Dorrco-Pan American jigs. Originally developed as a gold-saving device for dredges, the simplicity, ease of operation. efficiency, and negligible maintenance of these jigs have resulted in wide adoption on all types of placer operations, in the closed grinding circuits of gold mills, and on many applications where a coarse bed concentrate is separated from the ore gangue.

Jan 5, 1950

By C. J. Bauer

WHEN the pipe lines from the Middle East to the Mediterranean are completed, the Middle East supplies will relieve the strain on Western Hemisphere petroleum resources, part of which are now shipped for Eastern Hemisphere use. A sketch of the world petroleum situation as it appears today and in the immediate future will help in understanding the future place of Middle East oil supplies. Anticipated 1951 world demand is slightly under four billion barrels. To meet this requirement, crude output and refinery runs throughout the world (including Russia) must be increased about two million barrels per day above the average of 1947. This increment, together with pipe lines, tankers, and other facilities, will require in excess of ten billion dollars of new capital in the next four years. We are, therefore, looking forward to the greatest expansion program in the history of the industry.

Jan 1, 1948

By H. P. Croft

[ ] Professor Hibbard's paper presents a very interesting theory concerning the influence of texture on the tendency of brass tube to stress-corrosion crack. I should like to present the result of some work done in 1941 which may throw further light on the subject. In the first place, in regard to his review of the influences of grain boundaries, we not only confirmed the findings which he quoted, but also were unable to crack single crystals of beta brass in the standard mercurous nitrate test in 50 hr under loads up to 18,500 psi. Samples containing two or more crystals of beta brass always cracked at grain boundaries and generally followed the same pattern as for alpha brass, although cracking occurred sooner than in alpha brass under the same conditions. Such a specimen is shown in Fig 4. Second, at the possible risk of repetition, we should like to call attention to the reported role of grain size as influencing the tendency to stress-corrosion crack. This phenomenon, originally mentioned by Dr. Allan Morris in the Transactions, AIME, 1931, is illustrated in Fig 5, showing the effect of variations in grain size on the tendency of drawn brass wires to crack under load in the mercurous nitrate solution. This was taken from my work published in Proceedings A.S.T.M. 41, (1941), 905.

Jan 1, 1948

By O. W. Shimer, D. C. Helms, C. E. Brown

The early history and progress of anthracite stripping, from the first known operation at Summit Hill in 1821 through 1917, was covered in 1917 in a paper by J. B. Warriner,1 then chief engineer, now president of the Lehigh Navigation Coal Co., and stripping methods between 1917 and 1931 were the subject of a paper in 1931 by H. H. Otto,2 of the Hudson Coal Company. . The present paper is confined to methods used today on pitching beds in the western middle and southern anthracite fields. The anthracite industry, not unlike other large industries, had been affected for more than a decade by the adverse economic conditions of the country. High development and operating costs and the competition of other fuels caused some collieries to be closed temporarily, while others were permanently abandoned. In order to obtain a larger tonnage at a lower development cost, a larger stripping program was put into effect by many companies. In 1932, stripping operations accounted for 3½ million tons, or 7 per cent of the total anthracite production of the year, and in the next 10 years this increased until more than double that amount, or over 14 per cent of the total production, was from stripping operations. These figures represent the total production of the entire anthracite region; unfortunately, the figures have not been separated from the different fields. There are some operations in the southern and middle western fields where the tonnage obtained from stripping amounts to more than 30 per cent of the total colliery production. Stripping operations on pitching beds present difficult problems. Owing to the various geological formations, a different situation is encountered in nearly every stripping pit; and because of the proximity of an overlying bed, it is very often necessary to load the entire overburden into trucks and haul it out of the pit to the dump area, although back filling and casting is done whenever possible. Beds in the areas described in this paper pitch from 20" to 90 and some are on the invert in many sharp folds and faults. Planning The more successful strippings have had adequate engineering analysis. Some work is being done without much preliminary planning, but many strippings would have failed completely if close supervision by the engineering department had not been . maintained. Locations of stripping areas are determined as follows: I. By constructing cross sections over the areas and drilling sufficient diamond-drill or well drill holes to study the strata and to determine the location, thickness

Jan 1, 1944

By C. A. Fisher

THE discovery of petroleum in Pennsylvania in 1859 marked the birth of an industry of paramount importance. Spreading from - Oil Creek, this remarkable industry may be said to have embraced the earth in a little more than half a century. Those who made the discovery little realized its deep significance or far reaching influence on our national life. For over sixty years, during which time this nation has created and developed the oil industry to a high state of efficiency and' carried its activities to all parts of the world, we have' at all times been the leaders in the production of crude oil and in the development of its technology. During the unprecedented growth and expanse of the oil industry there has been an increasing dependency of our basic industries on, petroleum, until at present it has become essential to our national existence. To meet the ever increasing demand for petroleum and its products, we have explored, at one time or another, for their oil possibilities, practically all parts of the sedimentary rock area in the United States. Furthermore, detailed surface and, in many places, subsurface studies have been made of all the promising regions; over 640,000 jewells have 'been drilled for. oil since the beginning of the industry; $12,000,000,000 have been spent in this work; seventeen major fields exceeding 100,000 bbl. daily production and more than a thousand minor pools have been opened up, and 8,000,000,000 bbl. 'of oil have been produced, or an amount nearly equal to the estimated future reserves of the United States made in 1921.

Jan 1, 1925