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By Waldemar Lindgren

THE purpose of this paper is to present certain facts relating to Cordilleran differentiation and metallization. Theoretical discussions concerning the exact modus operandi of differentiation, the causes that led up to it, and the original distribution of the magmas have been omitted because the author feels that his knowledge is deficient. These subjects have been adequately treated in the admirable works of Iddings, Daly, Harker, Tyrrell, Shand, and Wolff. The facts here set forth seem to indicate that differentiation and metallization form one continuous process during the eastward movement of the magmas, culminating in the alkaline province of the eastern border of the Cordilleran Ranges.

Jan 1, 1933

By J. M. Hodge, M. A. Orehoski

tions to which it will be subjected, and this premise is probably the most important reason for hardenability control. However, the criterion of hardenability [ ] ture after quenching should consist wholly of martensite; and that transformation of austenite to intermediate-temperature products during quenching will have a deleterious effect upon the physical properties, particularly the toughness, of the tempered material. This implies that, in order to obtain the optimum physical properties from a given steel, its "hardenability" should be high enough to suppress all transformation except that to martensite under the heating and quenching condi- IT is now generally conceded that if a steel is to develop optimum physical properties in the conventionally quenched and tempered condition, the microstruc- [ ] that at present is most widely accepted and used is based on a microstructure of 50 per cent martensite. This criterion, which was suggested by Grossmann,1 does have considerable justification. It may be readily measured by a fracture or etch test and, since it represents the point at which the hardness is changing most rapidly with variations in cooling rate, it may be determined empirically from a hardness-depth curve by determining the point of steepest slope (the inflection point. Furthermore, in plain carbon steels or in steers of low hardenability, the difference in hardenability expressed in

Jan 1, 1945

By A. Hultgren, B. Herrlander

The original aim of the present investigation was to study the mechanism of cracking on hot-deforming red-short steels. During the microscopical examination of hot-deformed soft steels attention was directed to various patterns of so-called veining in the ferrite, as related to variations in the deformation procedure and the heat-treatment of the steels. Later, a hot-short steel of higher carbon content was also studied. Historical Storey1 suggested in 1914 that veining developed during the gamma-alpha transformation from the growing together of several alpha nuclei within the same gamma grain. Rawdon and Berglund2 found that in soft steel, forged somewhat below A3, the ferrite showed profuse veining, while usually there was very little veining after forging at very high temperatures. They emphasized the similarity between the pattern of veining formed by deformation about 600°C and that of slip lines formed by deformation at room temperature. They also suggested a relation between the gamma-alpha transformation and veining. They became convinced from etching and from the slip-line pattern in cold-deformed material, that the orientation within any ferrite grain showing veining was uniform. In recrystallized alpha grains veining was absent. Veining did not appear materially to affect the properties of ferrite. Independent of veining, continuous networks, attributed to preexisting delta and gamma grain boundaries were sometimes found, the former only in cast steel. Those networks were usually connected with small inclusions. Ammermann and Kornfeld3 confirmed that recrystallized ferrite grains showed no veining. In soft steel annealed between A1 and A3 there was veining only in the ferrite grains formed during cooling. Electrolytic iron deformed at 880' was free from veining. Bannister and Jones' considered veining in ferrite to be a manifestation of microscopical and sub-microscopica~ inclusions. NorthCOtt,5,6 in studies on veining in steel and other metals and alloys, attributed veining to oxide inclusions. It could generally be removed by annealing in hydrogen, a suggestion earlier made by Rawdon and Berg1und. TrittOn (discussion in ref. 5) emphasized the importance of perfect polishing for bringing out veining by etching, and thought the veins or subboundaries were produced during the gamma-alpha transformation, when it was rapid, as a result of the volume change and contraction during cooling. Slight distortion would not allow projecting parts of a growing crystal to join up with atomic symmetry. Hanemann and co-workers showed that veining in ferrite consisted of ridges

Jan 1, 1948

By B. Herrlander, A. Hultgren

The original aim of the present investigation was to study the mechanism of cracking on hot-deforming red-short steels. During the microscopical examination of hot-deformed soft steels attention was directed to various patterns of so-called veining in the ferrite, as related to variations in the deformation procedure and the heat-treatment of the steels. Later, a hot-short steel of higher carbon content was also studied. Historical Storey1 suggested in 1914 that veining developed during the gamma-alpha transformation from the growing together of several alpha nuclei within the same gamma grain. Rawdon and Berglund2 found that in soft steel, forged somewhat below A3, the ferrite showed profuse veining, while usually there was very little veining after forging at very high temperatures. They emphasized the similarity between the pattern of veining formed by deformation about 600°C and that of slip lines formed by deformation at room temperature. They also suggested a relation between the gamma-alpha transformation and veining. They became convinced from etching and from the slip-line pattern in cold-deformed material, that the orientation within any ferrite grain showing veining was uniform. In recrystallized alpha grains veining was absent. Veining did not appear materially to affect the properties of ferrite. Independent of veining, continuous networks, attributed to preexisting delta and gamma grain boundaries were sometimes found, the former only in cast steel. Those networks were usually connected with small inclusions. Ammermann and Kornfeld3 confirmed that recrystallized ferrite grains showed no veining. In soft steel annealed between A1 and A3 there was veining only in the ferrite grains formed during cooling. Electrolytic iron deformed at 880' was free from veining. Bannister and Jones' considered veining in ferrite to be a manifestation of microscopical and sub-microscopica~ inclusions. NorthCOtt,5,6 in studies on veining in steel and other metals and alloys, attributed veining to oxide inclusions. It could generally be removed by annealing in hydrogen, a suggestion earlier made by Rawdon and Berg1und. TrittOn (discussion in ref. 5) emphasized the importance of perfect polishing for bringing out veining by etching, and thought the veins or subboundaries were produced during the gamma-alpha transformation, when it was rapid, as a result of the volume change and contraction during cooling. Slight distortion would not allow projecting parts of a growing crystal to join up with atomic symmetry. Hanemann and co-workers showed that veining in ferrite consisted of ridges

Jan 1, 1948

By R. T. DeHoff, L. J. Buteau, J. Kronsbein

Network topology is introduced and used to describe sinter bodies at various stages of the sintering process. The matrices of incidence, loop-branch. tree-branch, and cut-branch are constructed and their relationship to the three-dimensional void space and the common two-dimensional bounding surface is established. The sintering body is assunzed to remain connected but this is not so with the void space. The topological invariants known as Betti numbers are related to this observed fact and provide parameters which measure the progress of the sintering process. They are extracted from the matrices by means of known algebraic operations. Experimental procedures are given which permit actual construction of the various matrices and determination of the Betti numbers by serial sectioning of the sinter bodies. A sinter body is produced by exposing a large number of metallic particles (0.00001 to 0.3 in. diam) to a temperature that is near but below their melting point. When these particles are maintained at such a temperature for a sufficient length of time, it is found that the interparticle contacts become welded. As time increases, these welds, often referred to as necks, grow. All of the space between the particles constitutes a single connected void; an ultimate consequence of sintering is the breaking up of the void into separated parts. A mathematical apparatus for describing the geometric characteristics of a sinter body at each stage of the process was first proposed by F. N. Rhinesl when he introduced the application of topology to this problem. He described the sinter body in terms of one of its topological invariants, the genus. The most important advantage of a topological description is invariance with respect to continuous deformations. This means that particle sizes and shapes need not be considered, resulting in considerable simplification and generalization of the geometric description. In the case of a sinter body, wherein the internal geometry is particularly complex, the simplification provided by topological concepts is absolutely essential. The important parameters in the Rhines model are the number of particles and the interparticle contacts. The invariant considered called genus is given by Euler's formula for the connectivity of two-dimensional surface of the sinter body. This surface includes the pore-solid interface. The Euler formula is G = C - P + 1 [1] where C = number of interparticle contacts, P = number of particles, and G = genus of the surface bounding the sinter body. In topology the term genus may be used to mean the number of self re-entrant cuts that can be made on a closed surface without dissecting it into more than one connected surface. Its use is restricted to the surface and does not apply to the three-dimensional volume enclosed or excluded by it. In the case of sintering, the volume enclosed by the surface is defined as the sinter body; the volume excluded will be referred to as the void space. There is an intrinsic reason for using genus as a characteristic number associated with a sinter body. The genus is related to the Gaussian curvature by the integral of the product of the principal curvatures taken over the entire surface of the sinter body, as given by

Jan 1, 1965

By Peter B. Scotland

The mines of the Arizona Copper Co. are situated in the Morenci-Metcalf copper district in southeastern Arizona. This copper-bearing district covers a triangular mountainous area of about 3 square miles, rising abruptly from the gravel plateau of the surrounding country. In this area, an immense intrusion of porphyry lias displaced, shattered, and engulfed the shales, limestones, and quartzites formerly bedded on the basal granite. Outcrops of oxide ore were discovered in 1873, and these surface ores were found to connect in depth with large bodies of high-grade oxide ores in the limestones and shales. The mining of these high-grade ores continued until about 1893, when their rapid exhaustion led to the discovery and exploitation of the low-grade sulphide ores in the adjoining porphyry. Methods of concentration were then devised and the low-grade ores finally rendered profitable. The Arizona Copper Co. and the Detroit Copper Mining Co., operating in the same district, were the pioneers in the successful development of the low-grade "porphyry" properties of to-day. The largest mines of the Arizona Copper Co. are the Humboldt and Clay at Morenci, and the Coronado, Metcalf, and King at Metcalf. These mines produce about 4,000 tons daily of concentrating ore containing from 2.5 to 2.8 per cent. copper. The topography of the country is very rugged and mining operations are conducted principally through adit levels. A few of the mines are opened by shafts, the deepest being 1,100 ft., in the Coronado mine. Ore Occurrence The low-grade sulphide ore occurs as: (1) disseminated deposits in the main stock of quartz porphyry; (2) lode deposits in fault fissures in granite. The high-grade oxide ores were found as tabular deposits in limestone and shale close to contacts with porphyry dikes. Low-grade oxide ore formed the outcrop of some of the sulphide orebodies; the majority of the outcrops, however, were barren.

Jan 1, 1915

By W. Francis

OF THE methods that have been used for studying the chemical composition of coal, attack by reagents has not, in general, yielded much information. Most of the reagents used have been strong oxidants such as nitric acid or Schulze's solution. The use of a milder oxidizing agent, such as air at low temperatures, enables progressive changes in the character of the coal substance to be studied and thus helps toward an understanding of its constitution. British bituminous coals frequently have a banded structure. These bands (of four types) can be separated one from another and have been found to possess markedly different chemical characteristics, even when taken from contiguous portions of the same lump coal. It has been found convenient to give each of the ingredients of banded coal a distinctive name, more or less descriptive of its appearance, and the study of the chemistry of bituminous "coal" in England has resolved itself into a study of each ingredient separately. . The coal chosen for this work was taken from the Top Hard seam at East Kirkby colliery, Nottinghamshire, a detailed chemical analysis of which has been recorded by Baranov and Francis.1 The banded structure was well marked and the bands could readily be separated. The research was confined to the brilliant vitreous bands (vitrain), the dull hard bands (durain) and the "sooty partings" (fusain); for previous work had shown that the fourth type, to which the name clarain has been given, is intermediate in character, chemically, between vitrain and durain.

Jan 3, 1925

By M. E. Lombardi

THE Coalinga oil field is located on the west side of the San Joaquin Valley, California. The structure is in general a monocline, the edges of the oil horizon resting on the foot hills and dipping gently toward the east. One prominent anticline occurs plunging southeast. The earlier drilling was done in the foot hills comparatively near the outcrop and the wells were shallow. The sands were followed eastward and, in the case of the anticline, along the plunge, the wells becoming deeper and deeper until the depth of 4,000 ft. was reached and passed. There is nothing to show that the oil will not be found in quantity at still greater depth. In fact, some of the best producers have tapped the sand at close to 4,000 ft. The recovery of oil still farther to the east, and therefore at greater depth, seems to be mainly a question of drilling. In this territory the formations drilled through are chiefly sands and shales; they will not "stand up" in an open drilling hole; the casing has to be carried close to the bit, and it is always difficult to keep the casing free for any considerable distance. Ability to carry casing of comparatively large diameter without conductor pipes for distances of 2,000 or 3,000 ft. or over is desirable in such territory chiefly for two reasons. It makes it possible to enter the oil sand with a pipe of ample diameter; it eliminates one or more expensive strings of casing which act only as conductors for the water string, and furthermore, in territory where waters are encountered which corrode steel rapidly, it makes possible the construction of a rust- and alkali-resisting water string. It is always desirable to shut off top waters, which may lie within 100 ft. or less of the oil sand, with 10-in. pipe. Where the depth is so great that a practical weight of 10-in. pipe will not withstand the probable collapsing pressures, 8 ¼ in. at least is desirable. About the limit of rotary drilling to date in California seems to be the setting of the 10-in. string at 3,200 ft., although the rapid advance in rotary work during the past year seems to indicate that this depth may soon be increased. It is my purpose now, however, to treat only of cable-tool drilling.

Jan 2, 1915

By George W. Maynard

In the death of Sir William Siemens, the Institute loses its most distinguished honorary member, one who, without exaggeration, may be ranked among the greatest Men of the century. In justification of this claim, I quote in part the words of two other men eminent in the walks of science. Professor Huxley, addressing the Royal Society, spoke of Siemens as "a marked example of vast energy, large scientific acquirements, and intellectual power of a high order," and as one " who had no superior in fertility and ingenuity of invention, while hardly any living man so thoroughly combined an extensive knowledge of scientific principles with the power of applying then] in a commercially successful manner. The value of his numerous inventions must be measured, not merely by the extent to which they have increased the wealth and convenience of mankind, but by the favorable reaction on the progress of pure science which they, like all such inventions, have exerted, and will continually exert." Dr. Wedding, in his address before the Verein zur Befarderung des Gewerbefleisses in Preussm, speaks of Siemens as being "so fortunate as to combine German erudition with British activity in such a manner that both nations, Gertnan as well as English, were equally proud of him; and, now that his rich life is ended, regret is expressed on both shores of the North Sea, first by the Germans that his entire life had not been spent in Germany, and his powers dedicated to Germany, and by the English that he was not born a Briton." Germany may well be proud of being the birth-place, not only of such a man, but of such a family; for where in history shall we find in a single family such a wide range of knowledge so successfully applied to the arts? The least distinguished name in the following list has added to the world's knowledge enough to satisfy the desire for fame of any ordinary man. This constellation is made up of:

Jan 1, 1884

W. H. BASSETT,* Waterbury, Conn. (written discussion ?).-The effect of reducing gases on hot solid copper has been known for many years in the copper industry, and precautions taken to guard against it in the general practice in copper heating and annealing. In view of the statement that Bengough and Hill, in 1910, were the first to suggest the possibility of the formation of gas within the copper itself, it is interesting to note that in Harper's Magazine for April, 1904, an article, "Life and Diseases of Metals," by Professor Heyn, illustrated the effect of reducing gases on copper by a photograph, which is shown in Fig. 1. This he entitled "Copper burst asunder by disease." After referring to the effect of hydrogen on steel, he makes the following remark: "Similar symptoms of poisoning, caused by hydrogen or gases containing hydrogen (as gas for lighting purposes), are apparent in copper when exposed to red heat. Not every kind of .copper is susceptible to this poisoning in equal degree. Copper per-fectly free of cuprous oxide is entirely exempt from poisoning. Most of the various coppers of commerce, however, contain cuprous oxide, formed during the smelting process while exposed to atmospheric influences. In such coppers, containing cuprous oxide, hydrogen causes a terrible disease on the copper being heated red hot. The copper bursts asunder and is permeated by cracks. This disease is practically incurable and can be eradicated by resmelting only. The results work destructively according to the amount of cuprous oxide contained in the copper." It must have been evident to Professor Heyn, as it was to us on reading this article, that the bursting asunder of the copper was clue to the formation of steam. Practical copper heaters have known for many years that it was quite possible to produce blisters, or large gas holes, in the interior of copper plates or bars by heating to a high temperature in reducing gases. These facts, of course, do not detract from the value of the study of the action of hydrogen gas that has been made by Mr. Pilling, but simply illustrate that the practical effect of reducing gases on furnace-refined copper has long been a troublesome factor in the heating or annealing of that metal.

Jan 1, 1919

By R. T. Mishler

I wish to express my keen appreciation of the article on the above subject by Coe and C1evenger.l It has been doubly interesting to me, for the reason that the experience recorded and the principles evolved practically parallel the results of similar investigations made by myself and others at The Lucky Tiger Mine, El Tigre, Sonora, Mex. An outline of the work at El Tigre may aid in confirming the principles expressed by Coe and Clevenger. El Tigre has the unenviable distinction of possessing a slime with a much lower settling rate than any recorded in the article discussed. Under most favorable conditions the settling rate is about one-third that reported for the Liberty Bell mill, and one-tenth that reported for the Nipissing, Golden Cycle, and Presidio mills. This slow settling characteristic of Tigre ore has necessitated careful investigation of settling phenomena throughout the various evolutions of the plant. Previous Settling Investigation at Tigre During construction work at the mill, the metallurgical engineer in charge, D. L. H. Forbes, ran a series of experiments on settling. His tests proved that deep settling tanks were not ordinarily necessary. The use of tanks 2 or 3 ft. in depth was suggested.2 Later experiments demonstrated that the following principles of settling applied to Tigre pulp.3 1. In settling dilute pulp, settling rates are independent of pulp depth. 2. In settling thick pulp, settling rates are approximately proportional to pulp depth.4

Jan 1, 1918

By J. B. Warriner

Introduction STRIPPING is the name given to the process of removing clay, rock, or other cover from deposits of coal or ore. In this paper it is intended to cover the methods used in carrying on this operation in the anthracite coal regions of Pennsylvania. In doing this, attention will be chiefly devoted to those methods wherein practice in different sections of the region differs, or is susceptible to change or improvement, though it is intended to give as complete data as possible concerning all stages of the operation. The data from which this paper has been prepared have been collected and submitted by a committee representing the larger users of stripping methods, of which committee the writer has acted as chairman. Data and assistance have also been obtained from various mining men, engineers, contractors and manufacturers of stripping equipment, to all of whom our appreciation is clue.

Jan 1, 1917

By Louis W. Huber

The Liberty tunnels extend through a very steep hill in Pittsburgh (locally called Mount Washington) for a distance of slightly over a mile. The two tunnels parallel each other and are 59 ft. apart, center to center (Fig. 1) They are for vehicular traffic, and in each there is ample space for two lines of vehicles. Northbound traffic, toward downtown Pitts- burgh, is confined to the east tunnel and southbound traffic to the west tunnel. The South Hills residential district is separated from downtown Pittsburgh by Mount Washington, a steeply rising escarpment south of and adjacent to the Monongahela River. The Mount Washington district immediately south of the Monongahela River has been reached, for many

Jan 1, 1927

By C. H. Mathewson, M. R. Pickus

The study of the plastic deformation and recrystallization of metals has been the subject of many investigations. In regard to the simple deformational processes, such as tension and compression, the early knowledge gained from studies of polycrystalline material has been supplemented by many significant researches on the behavior of single crystals. Unfortunately, this has not been true for more complicated deformational processes. As far back as 1927, G. I. Taylor1 wrote: It is impossible in the present state of knowledge to do more than give a possible reason why (face-centered cubic) crystals set themselves with a (110) direction in the plane of rolling, and at right angles to the direction of rolling. The explanation of why the orientation of the crystal axes round the transverse direction is what it is, must be left till the distortion of metals, and particularly single crystals of metals in the process of rolling, has been studied in greater detail. That this gap in the systematic study of deformation and recrystallization has not yet been filled was indicated by C. H. Samans, who wrote in 1934 that "only four investigations upon cold-rolled single crystals of any of the face-centered cubic metals have been reported in the literature." Of these four studies, only those of S. Tanaka3 and T. Sakaoj4 both of whom worked with aluminum crystals, had quantitative significance. The other two, carried out by F. Wever5 and W. G. Burgers16 were of a qualitative nature. It is our hope that the present investigation may contribute something to the knowledge necessary for a rationalization of the origin of rolling textures in terms of the known behavior of single crystals, and may add pertinent information concerning the recrystallization characteristics of deformed single crystals.

Jan 1, 1939

By M. R. Pickus, C. H. Mathewson

The study of the plastic deformation and recrystallization of metals has been the subject of many investigations. In regard to the simple deformational processes, such as tension and compression, the early knowledge gained from studies of polycrystalline material has been supplemented by many significant researches on the behavior of single crystals. Unfortunately, this has not been true for more complicated deformational processes. As far back as 1927, G. I. Taylor1 wrote: It is impossible in the present state of knowledge to do more than give a possible reason why (face-centered cubic) crystals set themselves with a (110) direction in the plane of rolling, and at right angles to the direction of rolling. The explanation of why the orientation of the crystal axes round the transverse direction is what it is, must be left till the distortion of metals, and particularly single crystals of metals in the process of rolling, has been studied in greater detail. That this gap in the systematic study of deformation and recrystallization has not yet been filled was indicated by C. H. Samans, who wrote in 1934 that "only four investigations upon cold-rolled single crystals of any of the face-centered cubic metals have been reported in the literature." Of these four studies, only those of S. Tanaka3 and T. Sakaoj4 both of whom worked with aluminum crystals, had quantitative significance. The other two, carried out by F. Wever5 and W. G. Burgers16 were of a qualitative nature. It is our hope that the present investigation may contribute something to the knowledge necessary for a rationalization of the origin of rolling textures in terms of the known behavior of single crystals, and may add pertinent information concerning the recrystallization characteristics of deformed single crystals.

Jan 1, 1939

By O&apos, M. M. Fine, K. G. Meara

One of the principal activities of the Bureau of Mines connected with the recent war was to help to increase the supply of strategic and critical minerals. Fluorite was one of the most critical of the nonmetallic minerals because of the increased demand for it as a flux in basic open-hearth and electric steel furnaces and as a raw material for the production of artificial cryolite used in the aluminum industry. Wartime developments in the technology of hydrofluoric acid, such as the use of the anhydrous acid as a catalyst in production of high-octane gasoline and the use of organic fluorides as carriers for insecticides, also increased the demand for acid-grade fluorite.f In 1943 the consumption of acid-grade fluorite was advancing at a more rapid rate than production, and was only slightly less than production during the latter half of the year.' The outlook for the postwar market for fluorite is encouraging. Steel production is expected to remain high until the domestic demand for commodities not manufactured during the war is satisfied. The uses for hydrofluoric acid are expected to increase under the impetus of war-initiated research. In considerbtion of these and other factors some authorities predict a postwar demand for fluorite equal to about 60 to 75 per cent of the wartime production.1,2 Others believe that the postwar fluorite industry will be permanently expanded over its prewar status.3 Acknowledgment This paper is one of many reporting on various aspects of the Bureau of Mines program directed toward the more effective utilization of our mineral resources. The program has been under the general supervision of R. S. Dean, Assistant Director, since July 1942. The scope of the paper falls in the province of the Metallurgical Branch, whose activities embrace the separation of difficultly beneficiated ores, the production of pure metals from domestic deposits, the exploitation of marginal orc reserves, the recovery of secondary metals, and the improvement of present industrial metallurgical practice. The investigation was initiated at the request of Mr. J. H. Steinmesch, vice-president and general manager, Minerva Oil Co., Eldorado, Ill. His hearty cooperation and helpful suggestions, and those of Mr. 0. E. Anderson, mill superintendent,

Jan 1, 1948

By K. G. Meara, M. M. Fine, O&apos

One of the principal activities of the Bureau of Mines connected with the recent war was to help to increase the supply of strategic and critical minerals. Fluorite was one of the most critical of the nonmetallic minerals because of the increased demand for it as a flux in basic open-hearth and electric steel furnaces and as a raw material for the production of artificial cryolite used in the aluminum industry. Wartime developments in the technology of hydrofluoric acid, such as the use of the anhydrous acid as a catalyst in production of high-octane gasoline and the use of organic fluorides as carriers for insecticides, also increased the demand for acid-grade fluorite.f In 1943 the consumption of acid-grade fluorite was advancing at a more rapid rate than production, and was only slightly less than production during the latter half of the year.' The outlook for the postwar market for fluorite is encouraging. Steel production is expected to remain high until the domestic demand for commodities not manufactured during the war is satisfied. The uses for hydrofluoric acid are expected to increase under the impetus of war-initiated research. In considerbtion of these and other factors some authorities predict a postwar demand for fluorite equal to about 60 to 75 per cent of the wartime production.1,2 Others believe that the postwar fluorite industry will be permanently expanded over its prewar status.3 Acknowledgment This paper is one of many reporting on various aspects of the Bureau of Mines program directed toward the more effective utilization of our mineral resources. The program has been under the general supervision of R. S. Dean, Assistant Director, since July 1942. The scope of the paper falls in the province of the Metallurgical Branch, whose activities embrace the separation of difficultly beneficiated ores, the production of pure metals from domestic deposits, the exploitation of marginal orc reserves, the recovery of secondary metals, and the improvement of present industrial metallurgical practice. The investigation was initiated at the request of Mr. J. H. Steinmesch, vice-president and general manager, Minerva Oil Co., Eldorado, Ill. His hearty cooperation and helpful suggestions, and those of Mr. 0. E. Anderson, mill superintendent,

Jan 1, 1948

By Frederick G. Coqueron, Joseph E. Pogue

The purpose of this study is to present the results of a detailed survey of the financial and operating aspects of 30 oil companies comprising a major sample of the American petroleum industry. This review supplements a previous paper entitled "Capital Flow and Capital Formation in the Petroleum Industry, 1934-1941,"a and deals not only with a longer period but also gives new and more revealing analyses of the capital movements and characteristics. The data are gathered from published financial statements of the companies, especially the annual reports to stockholders and Form 10-K to the Securities and Exchange Commission, supplemented by confidential information. The 30 oil companies covered by this study are listed on the leading stock exchanges and for the purpose of analysis are grouped as follows: 9 companiesb engaged principally in crude production, 4 companiesc with production averaging in excess of refinery requirements, and 17 companiesd with refinery throughput in excess of crude production. These samples are sufficiently broad and representative to constitute norms against which individual company performances may be profitably compared. The 30 companies in 1942 produced 54 per cent of the Nation's total output of crude oil and refined 79 per cent of the country's crude run to stills. The financial data apply predominantly to the domestic oil business, although 15 of the companies have investments and operate facilities in foreign countries. The net value of these foreign holdings amounted to 724 million dollars, or 12 per cent, of the combined net assets of the 30 oil companies at December 31, 1942.

Jan 1, 1944

Page Foreword—H. Foster Bain........................ 9 Letter of Transmittal—F. Julius Fohs...................11

Jan 1, 1927

Albert SauveuR, South Chicago, Ill. (communication to the Secretary): Mr. Howe remarks (nuns., xxiii., 656) that, running through my paper, there is a tacit assumption that there is a constant and known relation between the coarseness of the grain of steel and its quality. The above assumption was not made tacitly. On the contrary, it is based upon the very experiments embodied in my paper. Indeed, most of those experiments were undertaken with that end in view, i.e., to ascertain the existence of such a relation. Mr. Howe calls attention to the fact that of two pieces of manganese-steel, originally from the same bar, the coarser-grained showed the greater strength and ductility. This refers to the fracture of the pieces; whereas, I have considered the micro-structure only, independent of the fracture; and I do not think that a coarse fracture

Jan 1, 1895