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By E. P. Sadowski, R. J. Raudebaugh

A study of micro structural characteristics of a 30 pct Cr, 42 pct Ni, 26 pct Fe alloy has been correlated with its behavior in creep and rupture tests at 1400°, 1600°, and 1800°F. Nitrogen pickup observed at 1600" and 1800°F was associated withfissur-ing of specimens prior to fracture. IN studying the high-temperature characteristics of a nominally 30 pct Cr, 42 pct Ni, 26 pct Fe alloy certain anomalies were observed, namely: The alloy had greater stress rupture and creep strength at 1800" than at 1600° F for time periods beyond 550 hr. As placed in test, this alloy was nonmagnetic. After test, some specimens were found to be fairly magnetic. The gain observed in magnetic response was not solely a function of time and temperature of testing. This is a report of the observations and a recounting of the results of studies made in an attempt to explain the behavior of the material under investigation. MATERIAL AND PROCEDURE All test material was taken from a production size heat of an experimental alloy melted and processed using commercial practice and having the following percentage composition: C Fe Cr Ni Ti 0.05 25.83 30.13 41.59 0.41 Al Mn Si S Cu 0.42 0.75 0.45 0.011 0.34 The material was tested in two conditions, namely mill-annealed and grain-coarsened. Mill annealing, which consisted of heating to about 1900° F in a continuous furnace for about 30 min and air cooling, gave a grain size of ASTM 8 and finer. To produce the grain-coarsened condition, mill-annealed material was soaked for 2 hr at 2050°F in a laboratory furnace and air cooled. This resulted in an ASTM grain size of 4 to 5. Rupture tests were carried out at 1400, 1600, and 1800° F in accordance with ASTM procedures. In tests where only rupture life and elongation at fracture were determined, specimens of 0.252 in. diam and 1 in. gage length were used. In tests where creep curves were obtained, specimens were of 0.375 in. diam and 4 in. gage length. Several of the tests under relatively low stress were discontinued short of rupture. Three low-stress tests are still in progress at this writing. Structural changes which occurred during testing were determined from examination of the tested specimens by light microscopy and X-ray diffraction. Diffraction pattern recordings were made with a diffractometer using copper radiation on samples heavily etched in a picric-hydrochloric

Jan 1, 1960

CONTENTS PAGE BAIN, EDGAR C.-The Nature of Martensite. Discussed by Ancel St. John, Henry S. Rawdon, Jerome Alexander, Howard Scott 1 FEILD, ALEXANDER L.-Effect of Zirconium on Hot-rolling Properties of High-sulfur Steels and the Occurrence of Zirconium Sulfide. Discussed by Beram D. Saklatwalla, Bradley. Stoughton, Andrew M'Cance, George F. Comstock, Alexander L. Feild 12 SAUVEUR, ALBERT and KRIVOBOK, V. N.-Use of Sodium Picrate in Revealing Dendritic Segregation in Iron Alloys. Discussed by George F. Comstock, John H. Hall 17 KINNEY, C. L., JR.-Economic Significance of Metalloids in Basic Pig Iron in Basil Open-hearth Practice. Discussed by V. J. Pazzetti, George B. Waterhouse, C. L. Kinney, Jr 19 NEAD, J. H.-Absorption of Sulfur from Producer Gas in Open-hearth Furnaces.. Discussed by George B. Waterhouse, C. L. Kinney, Jr 26 PRIESTLY, WILLIAM J.-Effect on Steel of Variations in Rate of Cooling in Ingot Molds. Discussed by Emil Gathmann, Paul E. McKinney, George A. Dornin. 27 MONYPENNY, JOHN H. G.-Stainless Steel, with Particular Reference to the Milder Varieties (Stainless Iron). Discussed by P. A. E.-Armstrong, Beram D. Saklatwalla 33 ROYSTER, P. H., and JOSEPH, T. L.-Effect of Coke Combustibility on Stock Descent in Blast Furnaces. Discussed by Ralph H. Sweetser,. Richard Franchot, Sidney Cornell, T. L. Joseph 41 DAVIS, F. W., and BOLE, G. A.-Observations on Requirements of Refractories for Open Hearth. Discussed by C. L. Kinney, Jr., L. F. Reinartz, P. E. McKinney 46

Jan 5, 1924

Jan 1, 1967

By Sydney H., Ball

ONE of the important mineral discoveries of the eighteenth century was , that of the Minas Geraes, Brazil; diamond fields. The production of this and of .other diamond discoveries in neighboring states made Brazil the premier producer of diamonds, succeeding India; its 140 years of supremacy finally passed to- South Africa- 60 years ago. Three times have diamonds contributed heavily to Portugal's somewhat checkered financial history; first in the sixteenth and seventeenth- centuries when the diamond trade of India was controlled by its citizens residing in ,Goa, later in the late eighteenth and the first 75 years of the nineteenth century when the Brazilian fields were the world's source of diamonds, and now, when the Angola diamond mines are the principal source of revenue of its colony, Portuguese West Africa. Certain phases in the history of the administration of the Brazilian field are sufficiently curious to warrant description.

Jan 1, 1929

Jan 1, 1967

Separates of all the Technical Publications published in 1931 are available at Institute headquarters. All the papers are on file in public, university and technical libraries, and when so indicated in the list, may be found in the Transactions. Copies of these papers have been mailed to those members of the Institute who are registered in the different classes: A-Metal Mining; B-Milling and Concentration; C-Iron and Steel Division; D-Nonferrous Metallurgy; E-Institute of Metals Division; F-Coal Division; G-Petroleum Division; H-Nonmetallic Minerals; I-Mining Geology; K-Mining Administration; L-Geophysical Prospecting. Other members may obtain copies by writing to the Secretary. Additional copies are sold at the rate of I cent per page; minimum charge, 25 cents. Metal Mining Tech-nical Publi- Title Author Meeting TRanb. cation Volume No. and Page* 411-A.43 Ventilation at the Portovelo Mines, J. P. Harmon New York. T31, 83 Ecuador (18) Feb., 1931 425-A.44 Use of Models for the Study of Mining P. B. Bucky New York, Problems (28) Feb., 1931 Milling and Concentration 375-B.32 Ball Mill Studies, I (53) A. W. Fahrenwald New York, H. E. Lee Feb.. 1931 401-B.33 Experimental Flotation of Oxidized H. S. Gieser New York. Silver Ores (9) Feb., 1931 410-B.34 Flotation of Minor Gold in Large-scale E. S. Leaver New York, Copper Concentrators (32) J. A. Woolf Feb., 1931 414-B.35 Effect of Particle Size on Flotation A. M. Gaudin New York, (23) J. 0. Groh Feb., 1931 H. B. Henderson 416-B.36 Ball Mill Studies, 11.—Thermal A. W. Fahrenwald New York. Determinations of Ball Mill Effi- G. W. Hammar Feb., 1931 ciency (13) H. E. Lee W. W. Staley Iron and Steel Division 38QC.59 Open-hearth Steel Process as a Prob- E. R. Jette New York, C31, 80, 111 Iem in Chemical Kinetics (34) Feb., 1931 381-C.60 Thermodynamic Study of the Phasial Yap, Chu-Phay New York. Equi1ibriain the System Iron-car- Feb., 1931 bon (26) 382-(3.61 Influence of Dissolved Carbide on the Yap, Chu-Phay New York, Equilibria of the System Iron-car- Feb., 1931 ban (19) 383-C.62 Research on Blast-furnace Slags. R. S. McCaffery New York, Three papers (88) Co-workers Feb., 1931 384-C.63 Statistical Analysis of Blast-furnace K. S. McCaffery New York, C31, 60, 70 Data (13) R. G. Stephenson Feb., 1931

Jan 1, 1931

By Linn M. Farish

SOVIET RUSSIA reserves must be stupendous. In 1937 I. M. Goubkin placed the reserves of all categories it approximately 48 billion barren which was about twenty billion horn Is in excel:, of all the oil produced in the world since 1857. It is not unlikely in fact it is probable, that these huge stores of petroleum may ultimately be proven to exist within the present boundaries of the U.S.S.R. The size of the country is almost beyond imagination it is 2.7 times as big as the United States. Great sedimentary basins exist in all its different geological provinces, much of which are entirely untested and barely prospected. Oil in commercial quantities is actually produced from formations in every period from the Devonian to the Pleistocene. In the Emba region alone, 300 salt domes are known with an estimate of 700 still to be found. Only 22 of the 300 have been drilled and all showed oil. Of the 22 domes drilled six are now producing. There are 400 mapped structures reported in Azerbaijan

Jan 1, 1940

By S. F. Shaw

Tars paper is a review of the principal details of cyanide practice in several of the modern plants in America, mainly during the year 1908. Two of the mills, the Goldfield Consolidated and the Vets, Colorado, are not yet prepared to give data, the former having started about Jan. 1, 1909, and the latter not yet being completed. These two mills embody most of the latest methods and are therefore described as far as possible. I. CRUSHING. The principal methods of crushing ores for treatment by the cyanide process are with gyratory and jaw-crushers, stamps, Bryan and Huntington mills, and tube-mills. The first stage is usually done by gyratory or jaw-crushers, in a few cases sup-\

Jul 1, 1909

By AIME AIME

THE 122d meeting of the Institute was held in the Lake. Superior Copper and Iron Country Aug. 20 to Sept. 3, 1920 with an approximate registration of 1100 members and guests. This is the 'first visit of, the Institute to this vicinity since 1904 although previously it held meetings there every six or, seven years. 'The eastern party assembled at Buffalo and sailed on the S. S. "Tionesta ". on Friday morning, Aug. 20, arriving at Houghton, Mich., Monday, Aug. 23. En route stops were made at Detroit, where sightseeing auto trips were taken, and at Mackinac Island, where a short stop permitted a visit to the picturesque and historic Fort Mackinac.

Jan 1, 1920

By AIME AIME

General Local Committee.-John Fritz, Chairman; A. B. de Saulles, Vice-Chairman.; R. M. Bird, Treasurer; Henry S. Drinker, Secretary; Robert H. Sayre, E. P. Wilbur, Charles M. Dodson, Abraham S. Schropp, E. M. McIlvain Archibald Johnston, A. B. Fichter, C. G. Convers, W. A. Wilbur, Garrett B. Linderman, Frederick Conlin, George Pettiuos, Albert Brodhead, Garrett L. Hoppes, M.B. Cutter, H. J. Seaman, C. A. Matcham, B. F. Fackenthal, Jr., A. L. J. Queneau, Geo. R. Elder, Eldridge Wilbur, William H. Chandler, Mansfield Merriman, Joseph F. Klein, William S. Franklin, William Esty, Joseph AN'. Richards, Howard Eckfeldt, John D. Irving. Transportation Committee.-H. J. Seaman, C. A. Matcham, B. F. Fackenthal, Jr., A. B. Fichter, A. L. J. Queneau, Henry S. Drinker. Hotel Committee. -Garrett B. Linderman, Charles M. Dodson, W. A. Wilbur, Garrett L. Hoppes, Albert Brodhead. Steering Committee.-William S. Franklin, William Esty, John D. Irving, R. M. Bird, the members of the Tau Beta Pi Society of Lehigh University. Committee on Meetings - William S. Drinker, Joseph W. Richards, Howard Eckfeldt. Entertainmment Committee.-W. A. Wilbur, E. M. McIlvain, Archibald Johnston, A. B. de Saulles, G. G. Convers,.A. L. J. Queneau, Garrett B. Linderman, Frederick Conlin, George Pettinos, Garrett L. Hoppes, Henry S. Drinker, William S. Franklin, Eldridge Wilbur, Robert M. Bird, Secretary. The opening session was held at 8.30 p.m., Wednesday, February 21, 1906, in Gymnasium Hall of Lehigh University, which had been tastefully decorated with flags and bunting. Dr. Henry S. Drinker, President of Lehigh University, and Secretary of the General Local Committee, called the meeting to order, and welcomed the Institute to the Bethlehems, where its first meeting, after its organization in May, 1871, at Wilkes-Barre, was held in August, 1871.*

May 1, 1906

By A. M. Gaudin

THE purpose of ore dressing is to separate the rough ore into one or several valuable concentrates and a discarded tailing. The first step is to crush the ore so that the resulting particles may be individually valuable or worthless. The next step generally has to be a sizing operation, because the property by which concentration is effected depends on the size of the in-dividual mineral particles as well as on their physical properties. These two effects may cancel each other if a preliminary sizing is not resorted to. Sizing is accomplished by screening or classifying. Screening depends almost solely on the dimensions of the particles; classifying depends also on the specific gravity of the particles and the viscosity of the settling medium in which the classifying operation is conducted. Classification, therefore, is to a certain extent a con-centrating operation as well as a sizing operation. Before the days of concentration by flotation, the available screens were mechanically poor. As a result classification was employed for sizing in the range. of comparatively coarse sands (table feeds). In recent years, the advent of stage-grinding to flotation size has brought about the development of good screens, which are more economical than classifiers down to about 20, -mesh. With decreasing size at which separation is to be made, screens become increasingly uneconomical, while classifiers become increasingly economical. The line of demarcation between the respective fields of screening .and classification is, therefore, fairly sharp. With the development of processes of concentrating finely comminuted ore, the need for classifiers or other sizing devices operating so as to make efficiently a split at a very fine size has become increasingly apparent. Such classifiers might be termed de-slimers, from the fact that they separate a material having a slimy ap-pearance from one having the characteristics of a sand. Sizing-tests are carried on by means of testing sieves, the finest of which have apertures of about 1/500 of an inch. The 200-mesh sieve, which has an average open-ing of 0.0029 linear inches is generally considered the limit of practical test-sizing. As a result, little is known of minus 200-mesh material and the advantages of classifying concentrator feeds within the minus 200-mesh range has been overlooked. An extension of the -present sieve scale beyond the 200-mesh screen is given in Table 1.

Jan 2, 1927

By Hal T. Morris

The main Tintic mining district in central Utah has produced approximately 13,500,000 tons of ore, containing silver, lead, gold, copper, zinc, and other metals, valued at more than $315,000,000. More than 90 per cent of this ore has come from large, irregular ore bodies that have replaced folded and faulted limestone and dolomite strata. Of lesser importance are replacement veins that chiefly cut contact-pyrometasomatized carbonate rocks and fissure veins that cut altered intrμsive bodies and volcanic rocks. The district is in the west-central part of the East Tintic Mountains, a north-trending fault-block range near the eastern margin of the Great Basin. The consolidated sedimentary rocks exposed at the surface and in mine workings are miogeosynclinal deposits more than 10,000 feet thick that range in age from late Precambrian to Late Mississippian. They are folded and strongly faulted and are partly overlain by volcanic tuffs and agglomerates and by extensive flows of porphyritic and vitrophyric quartz latite, latite, and trachyandesite of Eocene age. All of these rocks are locally concealed beneath thick alluvial deposits of Pliocene and Quaternary age. The Eocene and older rocks are cut by dikes, sills, and small stocks of porphyritic quartz monzonite, monzonite, and latite, which are genetically related to the ore deposits. The district is inactive except for the production of halloysite clay and for minor leasing activity and exploration ventures. Several exploration targets remain untested.

Jan 1, 1968

Jan 1, 1963

By E. L. Affleck, W. G. Stevenson

In both Canada and the United States, a company making a public offering of securities must comply with regulations which have been passed by Federal, State and/or Provincial Legislatures. These regulations usually require the distribution of an acceptable prospectus which provides essential background information about the issuer, the project and the share offering. when the public offering has been accepted, the unlisted company may then seek a listing of its shares for trading on a Stock Exchange. Once listed, the company will be subject to rules of the Stock Exchange. This paper will deal with the specific information required for inclusion into a prospectus being submitted for a resource company and particularly those parts of concern to mining engineers and geologists.

Jan 1, 1985

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

Executive A R LEDOUX, Chairman ARTHUR S DWIGHT CHARLES F RAND E P MATHEWSON J V W REYNDERS Membership E DEGOLYER, Chairman W Y WESTERVELT, Vice-chairman WILLIAM H BASSETT H G MOULTON C MINOT WELD Finance WALTER H ALDRIDGE, Chairman GEORGE D BARRON GALEN H CLEVENGER Library GEORGE C STONE,' Chairman JOHN H JANEWAY ALEXANDER C HUMPHREYS, ROBERT LINTON FREDERICK F SHARPLESS

Jan 1, 1923

By L. A. Updegraff

Before discussing the application of capacitance for the measurement of moisture content in a moving stream of coal it might be well to first give a brief description of the process and then show how it can be applied to the coal industry. A capacitor may be described as a device having two conductors separated by an insulator, the conductors hereafter being designated as a test cell or test plates and the insulator as the dielectric. Capacitance, therefore, is a measure of the ability of a capacitor to store an electrical charge. Two basic factors that affect capacitance are the dimensions of the capacitor and the dielectric constant of the insulator. Capacitor dimensions which affect its capacity are the area A of the conductive surface, and the distance d between plates. Capacitance is inversely proportional to the distance between plates and directly proportional to area A, so if capacitance is indicated as C and the dielectric constant as K the equation for capacitance would be C = AK/d. The dielectric constant can be described as the ratio of the actual capacitance of any given material to that of a vacuum, which is unity. In industrial applications the area of the plates remains constant as also does the distance between them, leaving the dielectric constant as the only variable to affect the capacitance measurement. Figure 1 is a schematic diagram of an r-f excited capacitance bridge in which a test cell is part of the circuit. This bridge consists of four capacitors in two pairs connected across an a-c voltage source. In one side of the circuit the two capacitors are fixed but in the other side they are variable, one being the rebalance capacitor operated by the servo motor and the other the test plates between which the dielectric passes. Capacity of the plates is a function of the dielectric constant of the material between them and is measured at radio frequency. Within the recording instrument is an r-f oscillator and a 60 c ps modulator. The radio frequency signal is generated by the oscillator, modulated by a 60 cps wave, and sent to the bridge. Therefore the signal entering the capacitive bridge is a radio frequency carrier with a 60 cycle envelope, If the bridge is in balance as the signal enters there would be no voltage drop and so no output by the detector. As long as the dielectric constant remains the same the bridge will stay in balance. However, any change in the dielectric constant, which in this case would be a change in moisture content, would affect the bridge. Higher moisture increases the capacity of the test cell which causes less voltage to develop across it causing imbalance of the bridge. This in turn causes a radio frequency signal to appear at the detector. Output from the detector is a 60 cycle ripple which is in proportion to the imbalance of the circuit. A 60 cycle amplifier boosts the detector signal to enough power to drive the servo motor which positions the recording pen and also rotates the variable capacitor, to which it is mechanically connected, to bring the bridge back in balance. An increase in moisture causes the servo motor to rotate in one direction, but a decrease causes imbalance in the opposite direction, and thus rotates the motor in that direction. This brings the bridge back in balance and stops the motor. The bridge shown in Figure 1 has been modified so as to provide a wide range of adjustments. Coarse and fine span adjustments located in the recording instrument are set to govern the amount of pen movement for a given change in capacitance. A measuring head unit contains coarse and fine zero adjustments for

Jan 1, 1961

By Robert Linton

AT its meeting on May 21, the Board of Directors approved the recommendations submitted by President Lovejoy and named a nominating committee for the year that is especially well distributed as to major technical interest and as to geography. As may be seen from the list published herewith, two come from the East, two from the Midwest, and three from the far West. Mr. Linton, the chairman, has been a valued member of the Institute for 36 years. A memorandum drawn up by Paul D. Merica, representing the A.I.M.E., and W. R. Barclay, representing The Institute of Metals of Great Britain, setting forth a reciprocal plan for special memberships in each Institute for members of the other, was discussed. Both societies already have formally approved the plan in principle and Dr. Merica was clothed with full authority to agree on a few small details that have not been settled, and conclude the arrangement in behalf of the Institute.

Jan 1, 1936

By Waldemar Lindgren

THE following pages present data accepted by many geochemists and geologists regarding the succession of minerals and the temperatures of formation in ore deposits affiliated with igneous rocks. They also present the individual views of the author on the composition of the solutions that were active and on the mode of deposition. He does not regard these views as speculations or hypotheses but as forming a well motivated and consistent theory. It is not certain, however, that all investigators will subscribe to them.

Jan 1, 1936

By C. K. Leith

THE resolution presented at the Annual Meeting of the A.I.M.E., calling on Congress to provide now for postwar accumulation of mineral stock piles under Government control, expresses, I think, the nearly unanimous view of the mining industry. As a result of the trying experiences of the first World War, Mr. Baruch, in his report of Dec. 24, 1919, to the President, urged that steps be taken at once to ensure adequate supplies of raw materials for future emergency. In the twenty years that followed, the same program was vigorously urged on Congress by many individuals and agencies, public and private, including the Secretaries of War and Navy, many members of Congress, the Bureau of Mines, the Planning Committee for Mineral Policy appointed by President Roosevelt, the A.I.M.E., the Mining and Metallurgical Society, and others.

Jan 1, 1943