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By HAROLD VINTON COES

THE motive for merging or consolidation today is conspicuously different from that actuating business men in the late eighties and early nine- ties. Then they combined to secure added productive capacity and to monopolize their respective industries with a view to exploiting the consumer. So flagrant were some of these cases that they brought about their own correctives via retaliation on the part of the public and the subsequent restrictive legislation and legal curbs. The objective of the present-day merger, writes W. R. Hill in Printers' Ink, December, 1927, is summarized as follows : "In the golden days when an industry was being cut to pieces, the prevailing cure was to combine. The reason for such trusts was to strangle competition and by creating a monopoly, dominate the market, raise prices, regardless of economic business methods, and simply force larger profits.

Jan 1, 1930

By J. G. Eberhort

ThE literature of surface phenomena shows that, except for most of the rare-earth elements, surface tensions have now been determined for almost every liquid metal. The situation for liquid metal oxides is, in contrast, characterized by a great scarcity of surface-tension data. A surface-tension correlation between these two classes of substances has been found which provides a means of estimating unknown liquid-oxide surface tensions from the corresponding known liquid-metal surface tension. Lf the surface tension of the liquid metal is a(M) and that of the liquid metal oxide is o(M,Oy), then oxides of all stoichiometries can be brought into one correlation if is plotted against with the surface tensions taken at the respective melting points. The available data is displayed in this fashion in Fig. 1 where the relationship between the surface tensions of the two classes of liquids is found to be The correlation in Fig. 1 is based on data found for nine liquid metal oxides and the corre- sponding liquid metals In cases where several sur-face-tension determinations were available on the same substance, higher values were generally favored over lower ones because they usually indicate greater Sample purity. All of the metal-metal oxide pairs are in good agreement with Eq. [I] except for B-Bz03. The reason for the departure of this pair from the correlation is not understood. To estimate the surface tension of other liquid metal oxides the corresponding liquid-metal surface tension must be found. A nearly complete bibliography of the surface tension of liauid elements is available in the 46th edition of the Handbook of Chemistry and physics. Some additional references on metals are included here for convenience Se,26Sr,'?ThanduZ5). It is also possible to estimate the surface tension of a solid metal oxide or metal from the corresponding liquid-state data. As a liquid material is cooled through its melting point the surface tension increases abruptly by an amount Ao. bondi' has estimated that the maximum value of Aa at the melting point is Ao = Ahf/A [2] where Alzf is the heat of fusion per atom and A is the area per atom in the interface. Thus with heat of fusion and crystallographic data the surface tension of a solid at the melting point can be estimated as o + Ao.

Jan 1, 1967

By AIME AIME

THE second session on geophysical prospecting at the February meeting of the Institute was a discussion of the mining law and the bearing of the new method of search on location of claims and assessment work thereon. Allen H. Rogers was chairman of the meeting, which he opened by reviewing the present law and the proposed changes. W. R. Ingalls commented (by letter) on the Arentz bill, as introduced into the House of Representatives in 1921 and the need for revision of the present mining law. L. W. Douglas explained (by letter) the bill that he introduced and which has been passed by the House. SAMUEL S. ARENTZ, Nevada: It is my opinion that if the American Institute of Mining and Metallurgical Engineers is to sell this proposition to the people in the West, they have to sell it to the lawyers, because, after all, they are heard loudly when it comes to speaking in Congress. One man tells the other, "This thing is a vicious piece of legislation"; it might not be, but they will pass it on if it affects them. If the Institute would impress on the people affected that we need a re-codification of the mining law and that such is necessary along certain lines; that things have changed during the past decade or two, so today instead of doing our prospecting alone through the sinking of a shaft, through a discovery that may be seen, we are now moving on to more modern means of discovery through geophysics, through the churn-drill, through geology, through geological inference, I think we could get somewhere.

Jan 1, 1929

By AIME AIME

ON the morning of Monday, Nov. 9, 1936, two motorcycles, with sirens screeching, - escorted a procession of 70 automobiles from the Colonia Railway Station in Mexico City to the Hotel Geneve. Riding in' the cars were just over 200 visitors- members of the A.I.M.E. and their guests. They had come, via St. Louis, in two special trains from 24 different states for the 146th General Meeting of the Institute. During the morning they and 200 others, who had come from the United States by automobile or from various cities and mining camps in Mexico, duly registered with !efficient Mme. Irma Ordoiiez de Obregon and her assistants. Then started a week of strenuous but delightful activity that will never be forgotten by the participants. They were to cover more than 500 miles by automobile, always with a motor escort, and often

Jan 1, 1937

By R. Philip Hammond

Monazite has had a Cinderella-like history. Although nearly go per cent pure rare-earth compound (rare-earth phosphate) it was sought at first not for the rare earths but for the sake of a minor constituent—thorium. The thorium, essential for the Welsbach gaslight mantle, was present in only small quantities and the principal constituents, the rare earths, were largely discarded. Gradually, however, the rare earths have developed uses of their own and today have left the thorium far behind in value. Occurrence Monazite was first produced commercially about 1886, in North Carolina, where it was collected in small sluices by farmers who found it in stream beds on their land. The deposits were later exploited on a larger scale, but were mostly abandoned in a few years, when monazite from Brazil came upon the market in far larger quantities. Domestic production ceased entirely in 1906. The Brazilian source is still active, together with Indian, Dutch East Indies, and Australian deposits. Several other localities in the United States have yielded monazite, but none of these has produced commercially as yet. Monazite occurs originally in pegmatite~ and gneisses, through which, unfortunately, it is scattered in highly dispersed form. All commercially useful deposits consist of transported monazite sands liberated by erosion and concentrated by the action of water, which has sluiced away lighter materials and concentrated the heavy (D = 5.0 to 5.2) grains of monazite, together with ilmenite, zircon, garnet, and other dense minerals. The Carolina deposits were in stream beds; most of the other deposits mentioned are on or near the seashore, where the action of the waves has served to concentrate the monazite. In most cases today, the sands are worked to obtain the ilmenite and zircon, as well as monazite. The minerals are separated by means of sluices, dry tables, and magnetic separators, and each is finally obtained nearly pure. No crushing or grinding is necessary. The concentrates are shipped in fiber bags. Composition of Monazite As Table I illustrates, monazite is the anhydrous orthophosphate of the cerium Table i.—Typical Analysis of a Monazite Sand (India). Per Cent Thorium oxide............................. 8.1 Cerium oxide.............................. 30.6 Lanthanum oxide........................... 15. 7 Neodymium oxide.......................... 10.5 Praseodymium oxide........................ 2. 9 Samarium oxide............................ 1.0 Europium. gadolinium, and terbium oxides.... 0.7 Yttrium oxide.............................. 0.4 Dysprosium, holmium, erbium. thulium, ytterbium. and lutecium oxides................. 0. 1 Silicon oxide............t................... 2.4 Calcium, aluminum, and iron oxides.......... 1.0 Uranium oxide............................. 0.3 Phosphorus pentoxide....................... 26. 2 a The values given for the rare earths following samarium are approximate. being based upon analyses of concentrated fractions derived from monazite. The composition given represents Travancore monazite carefully freed from other minerals. goup of rare-earth elements. A small amount of yttrium and terbium group phosphate is also present.* All the rare-

Jan 1, 1948

By R. Philip Hammond

Monazite has had a Cinderella-like history. Although nearly go per cent pure rare-earth compound (rare-earth phosphate) it was sought at first not for the rare earths but for the sake of a minor constituent—thorium. The thorium, essential for the Welsbach gaslight mantle, was present in only small quantities and the principal constituents, the rare earths, were largely discarded. Gradually, however, the rare earths have developed uses of their own and today have left the thorium far behind in value. Occurrence Monazite was first produced commercially about 1886, in North Carolina, where it was collected in small sluices by farmers who found it in stream beds on their land. The deposits were later exploited on a larger scale, but were mostly abandoned in a few years, when monazite from Brazil came upon the market in far larger quantities. Domestic production ceased entirely in 1906. The Brazilian source is still active, together with Indian, Dutch East Indies, and Australian deposits. Several other localities in the United States have yielded monazite, but none of these has produced commercially as yet. Monazite occurs originally in pegmatite~ and gneisses, through which, unfortunately, it is scattered in highly dispersed form. All commercially useful deposits consist of transported monazite sands liberated by erosion and concentrated by the action of water, which has sluiced away lighter materials and concentrated the heavy (D = 5.0 to 5.2) grains of monazite, together with ilmenite, zircon, garnet, and other dense minerals. The Carolina deposits were in stream beds; most of the other deposits mentioned are on or near the seashore, where the action of the waves has served to concentrate the monazite. In most cases today, the sands are worked to obtain the ilmenite and zircon, as well as monazite. The minerals are separated by means of sluices, dry tables, and magnetic separators, and each is finally obtained nearly pure. No crushing or grinding is necessary. The concentrates are shipped in fiber bags. Composition of Monazite As Table I illustrates, monazite is the anhydrous orthophosphate of the cerium Table i.—Typical Analysis of a Monazite Sand (India). Per Cent Thorium oxide............................. 8.1 Cerium oxide.............................. 30.6 Lanthanum oxide........................... 15. 7 Neodymium oxide.......................... 10.5 Praseodymium oxide........................ 2. 9 Samarium oxide............................ 1.0 Europium. gadolinium, and terbium oxides.... 0.7 Yttrium oxide.............................. 0.4 Dysprosium, holmium, erbium. thulium, ytterbium. and lutecium oxides................. 0. 1 Silicon oxide............t................... 2.4 Calcium, aluminum, and iron oxides.......... 1.0 Uranium oxide............................. 0.3 Phosphorus pentoxide....................... 26. 2 a The values given for the rare earths following samarium are approximate. being based upon analyses of concentrated fractions derived from monazite. The composition given represents Travancore monazite carefully freed from other minerals. goup of rare-earth elements. A small amount of yttrium and terbium group phosphate is also present.* All the rare-

Jan 1, 1948

By Alfred H. Bell, George V. Cohee

Illinois produced 146,788,000 bbl. of oil in 1940, or nearly 11.0 per cent of the total for the United States, and ranked fourth among the oil-producing states. Its production was only slightly less than that of Oklahoma, which produced 11.5 per cent of the national total. Illinois' production in 1940 represents an increase of 55 per cent over the previous year, when it amounted to 94,912,000 barrels. The development of the Devonian limestone in the Salem and Centralia fields is largely responsible for the increase in production during 1940 Production from the Devonian limestone in these two fields was estimated to be 36,698,000 bbl., or 25 per cent of the state's total production (Table I). The increase in production during June, when the state's daily average production attained a peak of 518,200 bbl. for the week ending June 29, was due to the Devonian production at Centralia (Fig. I). The initial production of the best Devonian wells in the Centralia field was as high as 12,000 bbl. in 24 hr. Daily average production in IIIinois for 1940 was 400,000 bbl. of oil, but actually daily production fluctuated widely during the year. At the beginning of 1940 daily production was approximately 330,000 bbl. During the first hali of the year it in-creased irregularly to the peak in June mentioned above and as the prolific Devonian producing areas were drilled up, the state's daily production declined rapidly during July and continued to decline, although more slowly, until the end of the year, when the daily production was approximately 325,000 bbl. The daily average production per well in the new fields at the end of the year was approximately 40 bbl. (Fig. I). Oil from the Devonian was also produced in the Bartelso field, Clinton County, the Sandoval field, Marion County, and the Irvington field, Washington County, bringing the estimated total production from the Devonian limestone to about 26 per cent of the state's total production, The remainder was obtained largely from the Mississippian system. About 2 per cent of the total was from Pennsylvanian and Ordovician strata. The decline in the Devonian limestone production has been so rapid that the 1941 output from this system will probably be only a small fraction of that of 1940 unless large new reserves are discovered. The "Trenton" (Ordovician) limestone has been tested in two wells in the Centralia field and both were small oil producers at a depth of about 4000 it. The "Trenton" also was found productive in the Salem field at a depth of 4500 ft. (Table 5). The initial production of the discovery well, which was completed shortly after the end of the year, was 130 bbl. on pump. Other wells drilled early in 1941 had initial productions averaging 172 barrels. The outlook for 1941 is for a continuation of drilling activity in Illinois, but at a declining rate (Fig. I, upper curve). The most active area at the end of 1940 was in the deep basin area in Wabash, Edwards, White, and Hamilton Counties.

Jan 1, 1941

By Alfred H. Bell, George V. Cohee

Illinois produced 146,788,000 bbl. of oil in 1940, or nearly 11.0 per cent of the total for the United States, and ranked fourth among the oil-producing states. Its production was only slightly less than that of Oklahoma, which produced 11.5 per cent of the national total. Illinois' production in 1940 represents an increase of 55 per cent over the previous year, when it amounted to 94,912,000 barrels. The development of the Devonian limestone in the Salem and Centralia fields is largely responsible for the increase in production during 1940 Production from the Devonian limestone in these two fields was estimated to be 36,698,000 bbl., or 25 per cent of the state's total production (Table I). The increase in production during June, when the state's daily average production attained a peak of 518,200 bbl. for the week ending June 29, was due to the Devonian production at Centralia (Fig. I). The initial production of the best Devonian wells in the Centralia field was as high as 12,000 bbl. in 24 hr. Daily average production in IIIinois for 1940 was 400,000 bbl. of oil, but actually daily production fluctuated widely during the year. At the beginning of 1940 daily production was approximately 330,000 bbl. During the first hali of the year it in-creased irregularly to the peak in June mentioned above and as the prolific Devonian producing areas were drilled up, the state's daily production declined rapidly during July and continued to decline, although more slowly, until the end of the year, when the daily production was approximately 325,000 bbl. The daily average production per well in the new fields at the end of the year was approximately 40 bbl. (Fig. I). Oil from the Devonian was also produced in the Bartelso field, Clinton County, the Sandoval field, Marion County, and the Irvington field, Washington County, bringing the estimated total production from the Devonian limestone to about 26 per cent of the state's total production, The remainder was obtained largely from the Mississippian system. About 2 per cent of the total was from Pennsylvanian and Ordovician strata. The decline in the Devonian limestone production has been so rapid that the 1941 output from this system will probably be only a small fraction of that of 1940 unless large new reserves are discovered. The "Trenton" (Ordovician) limestone has been tested in two wells in the Centralia field and both were small oil producers at a depth of about 4000 it. The "Trenton" also was found productive in the Salem field at a depth of 4500 ft. (Table 5). The initial production of the discovery well, which was completed shortly after the end of the year, was 130 bbl. on pump. Other wells drilled early in 1941 had initial productions averaging 172 barrels. The outlook for 1941 is for a continuation of drilling activity in Illinois, but at a declining rate (Fig. I, upper curve). The most active area at the end of 1940 was in the deep basin area in Wabash, Edwards, White, and Hamilton Counties.

Jan 1, 1941

By George A. Roche

Investment in growth stocks is the most assured way of achieving superior, long term investment accomplishment. There are many criteria used to select growth companies but the most important is a combination of superior management operating in an industry with above average growth potential. This growth stock approach is the cornerstone of investment strategy for two of the three mutual funds sponsored by the Price organization and for its private clients. However, during the past five years inflation has accelerated due to a variety of factors including the inability of government to meet seemingly unlimited needs with limited revenue sources.

Jan 4, 1972

By AIME AIME

LOCAL COMMITTEES. EXECUTIVE.-W. A. Lathrop, Chairman; R. V. Norris, Secretary; S. D. Warriner, Treasurer; Irving A.. Stearns, W. J. Richards, H. S. Drinker, C. D. Simpson. GENERAL RECEPTION.-Irving A. Stearns, Chairman. Archibald, James, Jr., Pottsville. Lawall, E. H., Wilkes-Barre. Ashley, H. H., Wilkes-Barre. Lentz, W. 0., Mauch Chunk. Ayres, WV. S., Hazleton. Lewis, Albert, Bear Creek. Beard, J. T., Scranton. Loomis, W. H., Jeddo. Bridgman, J. C., Wilkes-Barre. Markle, Alvan, Hazleton. Bunting, Douglas, Wilkes-Barre. Markle, John, Jeddo. Chase, F. M., Wilkes-Barre. Neale, J. B., Minersville. Coroner, Eli T., Scranton. Norris, R. V., Wilkes-Barre. Cote, E. B., Jr., Drifton. Oliver, Paul A., Oliver's Mills. Davies, W. H., Hazleton. Owens, W. D., Pittston. Davis, H. G., Dorranceton. Pardee, 1. P., Hazleton. Dodge, W. F., Wilkes-Barre. Quin, R. A., Wilkes-Barre.

Jul 1, 1911

By John Griffen

HYDRAULIC classification as explained by Rittinger and others was largely restricted to conditions wherein the free-falling velocities of the particles were conceived as governing the separations effected (see chapter 9). The laws governing classification under free-falling conditions have been summarized by Chapman and Mott as follows:

Jan 1, 1943

United Engineering Trustees, Inc. WILLIAM H. BASSETT H. G. MOULTON R. M. ROOSEVELT The Engineering Foundation GEORGE D. BARRON E. DEGOLYER R. M. ROOSEVELT Engineering Societies Library Board ROBERT PEELE H. K MASTERS A. B. PARSONS, Ex-officio F. F. SHARPLESS R. H. SWEETEST

Jan 1, 1934

United Engineering Trustees, Inc. GEORGE D. BARRON ARTHUR S. DWIGHT R. M. ROOSEVELT The Engineering Foundation H. C. BELLINGER E. DEGOLYER J. V. N. DORR

Jan 1, 1932

By John C. Branner

Five of the geologic horizons that yield oil in other parts of the world are represented in Brazil; namely, the Devonian, Carboniferous, Permian, Cretaceous, and Tertiary. Thus far, the first two have shown no evidences of being oil bearing within Brazilian territory. Not enough exploring has been done to permit trustworthy comparisons of the relative importance of the Permian, Cretaceous, and Tertiary as oil-bearing horizons in this country. The most important, indeed almost the only, information available relates to the locations of the areas and to the structural features of the several horizons. The theories regarding the physical conditions under which these rocks were laid down, however, I regard of the utmost importance. Permian Rocks of Permian age cover an enormous area in Brazil, extending from Rio Grande do Sul to Maranhao on the north, and to Matto Grosso on the west. These Permian rocks in many places are known to include oil-bearing shales and in some locations contain small veins of gilsonite. The geologic map of Brazil shows that the Permian area is widely distributed, but there is considerable doubt about the origin of some of the rocks. Some of the lower Permian beds in southern Brazil contain marine fossils, but in Minas no fossils have as yet been found in them, and in Bahia, at only one locality have a few Permian plants been found. Indications of oil have been found in the states of Sa0 Paulo, Parana, and elsewhere farther south, but wells drilled in the Permian of SaO Paulo near the Morro do Bofete did not find oil. One well has been started, by the Brazilian Government, in the Permian of Parana near Marechal Mallet, close to latitude 26" south, but thus far oil has not been found.

Jan 1, 1923

By John C. Branner

Five of the geologic horizons that yield oil in other parts of the world are represented in Brazil; namely, the Devonian, Carboniferous, Permian, Cretaceous, and Tertiary. Thus far, the first two have shown no evidences of being oil bearing within Brazilian territory. Not enough exploring has been done to permit trustworthy comparisons of the relative importance of the Permian, Cretaceous, and Tertiary as oil-bearing horizons in this country. The most important, indeed almost the only, information available relates to the locations of the areas and to the structural features of the several horizons. The theories regarding the physical conditions under which these rocks were laid down, however, I regard of the utmost importance. Permian Rocks of Permian age cover an enormous area in Brazil, extending from Rio Grande do Sul to Maranhao on the north, and to Matto Grosso on the west. These Permian rocks in many places are known to include oil-bearing shales and in some locations contain small veins of gilsonite. The geologic map of Brazil shows that the Permian area is widely distributed, but there is considerable doubt about the origin of some of the rocks. Some of the lower Permian beds in southern Brazil contain marine fossils, but in Minas no fossils have as yet been found in them, and in Bahia, at only one locality have a few Permian plants been found. Indications of oil have been found in the states of Sa0 Paulo, Parana, and elsewhere farther south, but wells drilled in the Permian of SaO Paulo near the Morro do Bofete did not find oil. One well has been started, by the Brazilian Government, in the Permian of Parana near Marechal Mallet, close to latitude 26" south, but thus far oil has not been found.

Jan 1, 1923

Jan 1, 1970

By William Priestley

The author has shown, by .practical experiments, how the rate of cooling steel in the mold governs ingotism, segregation, the formation of dendrites, and the distribution of intergranular material; and the resulting effect these conditions have on the physical qualities of the steel before annealing, after annealing, and after forging. The paper also describes how the structure of steel is affected by the design of the mold and the method of pouring. It is shown that the various constituents of carbon steel segregate differently under different rates of cooling. For the classes of steel covered in this paper, it is concluded that the best physical structure and the most uniform chemical composition is obtained by pouring the steel at a low temperature and solidifying as rapidly as possible in the mold. MUCH time has been devoted, by metallurgists, to the study of steel after solidification and remarkable strides have been made in the heat treatment of steel, but less knowledge is available of the thermophysical, activity of the constituents of steel prior to solidification in the mold. It is known that certain elements added to steel produce marked changes in physical properties, also that other elements added to steel produce similar changes, but we have only meager knowledge as to how these elements combine in steel under different conditions of solidification. It is not sufficient to know, from chemical analysis, that a certain element is present in steel. We should know how this element is in combination with the other elements and whether the combination is such as will give the greatest physical properties. Certain elements go into solid solution with the iron, while others segregate to the grain boundaries and combine with the impurities collected there. Until it is known where an alloy produces the most beneficial effect and a means, is determined for controlling its physical location by altering solidification conditions, or otherwise, we will not obtain the maximum value from our alloys.

Jan 2, 1924

By John Branner

FIVE of the geologic horizons that yield oil in other parts of the world are represented in Brazil; namely, the Devonian, Carboniferous, Permian, Cretaceous, and Tertiary. Thus far, the first two have shown no, evidences of being oil bearing within Brazilian territory. Not enough exploring has been done to permit trustworthy comparisons of the relative importance of the Permian, Cretaceous, and Tertiary as oil-bearing horizons in this country. The most important, indeed almost the only, information available relates to the locations of the areas and to the structural features of the several horizons. The theories regarding the physical conditions under which these rocks were laid down, however, I regard of the utmost importance. PERMIAN Rocks of Permian age cover an enormous area in Brazil, extending from Rio Grande do Sul to Maranhão on the north, and to Matto Grosso on the west. These Permian rocks in many places are known to include oil-bearing shales and in some locations contain small veins of gilsonite. The geologic map of Brazil shows that the Permian area is widely distributed, but there is considerable doubt about 'the origin of some of the rocks:. Some of the lower Permian beds in southern Brazil contain marine fossils, but in Minas no fossils have as yet been found in them, and in Bahia, at only one locality have a few Permian plants been found. Indications of oil have been found in the states of São-Paulo, Paraná, and elsewhere farther south, but wells drilled in the Permian of São Paulo near the Morro do Bofete did not find oil. One well has been started, by the Brazilian government, in the Permian of Paraná near Marechal Mallet, close to latitude 26° south, but thus far oil has not been found.

Jan 6, 1922

By E. H. Bunce

CONTINUED progress in zinc metallurgy has been shown during 1933 by the adoption of new methods as well as the modernization of old processes and equipment, and by the initiation of new fields of activity for future advancement. The use of suspension roasting continued to grow as its advantages and adaptability became increasingly, apparent. The process developed by the National Smelting Co., Ltd., several years ago, of completely roasting on large sintering machines with utilization of the gas for acid manufacture has worked so successfully that an additional machine was installed during the year. At both the Swansea and the Avonmouth Works all of the ore for smelting is now roasted on the large sintering machines, thereby completely eliminating the old hearth-roasting furnaces. Work continued on obtaining partial purification of zinc ores from lead and cadmium by close control of conditions on the sintering machine, and in a few instances by chlorine additions to the ore before sintering. Ores so treated were either partially roasted or com-

Jan 1, 1934

By E. H. Jr. Dix

THE importance of aluminum-silicon alloys in the light alloy field is now generally recognized. Where silicon was once considered detrimental to the properties of aluminum, useful alloys now contain as much as 13 per cent. Furthermore, silicon is present as an impurity in aluminum of even the purest grades. Iron is another important impurity in aluminum and like silicon is found in small quantities in the purest aluminum available today. The manner of occurrence of iron and silicon in commercially pure aluminum and many of its alloys exerts, a very pronounced influence upon their properties. The effect of large quantities of iron in aluminum-silicon alloys is so detrimental that it has been found necessary to limit the allowable maximum percentage to as low a figure as is consistent with quantity production and satisfactory physical properties. The intimate relation existing between iron and silicon in aluminum and aluminum alloys makes necessary a more complete knowledge of this ternary system. This paper is divided into two principal parts, dealing respectively with aluminum-silicon solubility equilibria and the constitution of aluminum-iron-silicon alloys.

Jan 1, 1927