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By Joseph E. Pogue

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

Jan 1, 1946

By H. A. Bright, H. C. Vacher, J. G. Thompson

The methods employed for the determination of oxides and oxygen in ferrous materials may be roughly classed in two groups, "wet" methods and "hot" methods, the first group including the iodine, electrolytic, mercuric chloride, hydrochloric acid, nitric acid, and chlorine methods; the second group including the vacuum-fusion and hydrogen-reduction methods. The wet methods depend upon preferential solubility in a selected medium to separate the metallic portion of the sample from the oxygen-containing constituents. Subsequent analysis of the insoluble residue permits the isolation and separate determination of individual oxides and compounds. The hot methods depend upon the reduction of the oxide constituents of the sample by means of carbon or hydrogen at elevated temperatures. With the exception of the recently developed fractional vacuum-fusion method, the hot methods do not identify individual oxides and compounds but yield only a single value representing the sum of the oxygen contents of several or all of the oxide constituents present. With such diversity in the principles and aims of the different groups, it is not surprising that concordance of results by different methods has usually been difficult to obtain. The present cooperative attempt to define more rigorously than has been possible heretofore the accuracy and limits of usefulness of the various methods, originated in correspondence between Dr. John Johnston, Director of Research of the United States Steel Corporation, and other interested metallurgists. The plan was, briefly, to submit identical samples to a number of laboratories for analysis by different methods and to collate the results of these analyses. The project was endorsed by the Iron and Steel Division of the American Institute of Mining and Metallurgical Engineers at the annual meeting in February, 1933, and has been conducted under the joint sponsorship of the Iron and Steel Division and the National Bureau of Standards. The latter organization undertook

Jan 1, 1937

By Thomas T., Read

T HE preceding chapter has recorded the initiation of mineral industry education during the period 1890-1910 in numerous institutions that had not previously offered it. It should also be emphasized that in many institutions where instruction had begun before 1890, as recorded in earlier chapters, but had not yet become firmly established,, this period was one of marked growth and development. This was not universally true, however, for at the Universities of Pennsylvania, Michigan, Illinois, Wisconsin, Washington (St. Louis), Iowa, Vanderbilt and Tennessee, and at the Polytechnic College of Pennsylvania, mineral industry instruction was being dropped during this period, instead of gaining in strength. It is necessary to emphasize this, because writers on the subject have not infrequently , attempted to make a much too simple correlation between mineral -discovery or production and the intensity of student interest in mineral industry curricula. It would naturally be true that periods of large mineral production would, in general, coincide with cycles of business prosperity, and the latter are conducive to starting new ventures, educational as well as business. It should be equally evident that opportunities for business and professional success might, in such periods, appear to increase at a more rapid rate in industries other than mineral, or in the utilization of minerals rather than in their production. The author has not been able to perceive any simple and clear relation between interest in mineral industry education and mineral discovery, production, and utilization, or general business prosperity. On the contrary, the more the problem is studied the more complex the factors involved in it appear to be. In a later chapter an attempt will be made to analyze them in more detail.

Jan 1, 1941

By B. A. Stainton, John D. Gill

OUR combined economic activities have as their goal the maximum of individual well-being and national security. In this age of intense international competition the two objectives are closely related. For many decades, the maximum of well-being and ability to maintain national security have moved generally upward. The best single measure-perhaps the only adequate measure -of the level of the rising goal is the per capita real national income (national income corrected for price changes). For centuries before the industrial revolution the income of the world's population changed little from generation to generation. In our country prior to 1800 the growth of national income was hardly measurable from decade to decade. Since 1850, perhaps since the "industrial revolution," the growth of per capita real income has been increasing geometrically. Of major importance is the accelerative growth of the productive ability of our economy. Inadequate consideration of its implications is partly responsible for periodic delays in solving our princi-

Jan 1, 1946

By C. A. Heiland

For a long time it has been known that it is possible to deduce conclusions about the physical constitution of the interior of the earth from the records of natural earthquakes obtained by stationary seismographs. In view of this fact it is surprising how late, relatively speaking, geologic prospecting by seismic methods has been taken up, although the first suggestion was made 40 years ago—that travel-time curves of artificial explosions might be used for the study of the change of the velocity of seismic waves as depth. Further suggestions of practical applications of artificial explosions for geologic purposes were made by Belar12 by von dem Borne,3 by Benndorf and by Galitzin,5 but it was not .until 1919 that Mintrop obtained a patent on the seismic prospecting method which he has applied commercially on a large scale ever since. Dr. Mintrop came to this country with his method at about 1923. Since that time, several American oil companies have developed seismographs of the mechanical type for the vertical component similar to that of Mintrop's (Humble Oil Co., Dr. Ricker). Other consulting geophysical companies designed other types of seismic devices, the simplest of them for the recording of the first impulse being the geophone (McCol-lum Geophone Co.). The galvanometric recording method as first proposed by Galitzin is being used (Geophysical Research Corpn.?) and use is being made even of the piezoelectric properties of crystals for portable seismographs (F. Rieber). There is such an enormous variety of all kinds of portable seismographs, vibrographs, accelerographs, etc., that it is difficult to decide just what kind is preferable. Unfortunately, nothing has been published as yet about American designs of portable seismographs, except the Wood-Anderson torsion-seismometer. After Mintrop's design of portable seismographs, other constructions were made

Jan 1, 1929

By PERCY E. BARBOUR

SECONDARY copper1 has &come more or less of a bugbear generally. What is its influence is often the subject of heated argument. The inedapable fact usually quoted is that since in 1929 primary production of copper in the United States was 1,026,348 tons and secondary production was 626,550 tons, there- fore, 0.6 lb. of secondary is produced for every pound of primary, and "How can you get around that?" The matter seems very plain, now that I have reached my conclusions, but they are the result of much laborious study and research. I shall show that' the production of secondary copper is not 0.6 per lb. of primary, in spite of statistical appearances; that the production of secondary is a function of primary production rather than of price; that secondary production has 'only a sub-. ordinate influence on the price of copper and then only in abnormal times; that there is not an accumulating reservoir of secondary from which the country is some- time to be drowned in copper, as is believed by some, or a reservoir from which we are going to draw much needed and more or less inexhaustible stores in the future, as is believed by others; and finally, that the United States always produces more copper than it uses and exports the surplus. These are all controversial points, and for that reason and to anticipate argument I have set forth my reasoning in considerable detail.

Jan 1, 1931

By Thomas B. Douglas

INSTRUMENTATION in the process industries can no longer be regarded as a convenience, but rather an absolute necessity. Although many chemical processes must already be conducted with instruments, every properly designed application of automatic process control will improve operation: 1) the product will be more uniform and of higher quality; 2) the manual labor saved will reduce cost; 3) uniformity of flow and uniform control of process will increase production; and 4) surges will be eliminated, making it possible to operate equipment near ultimate capacity at all times. Industrial instruments fall into two general classifications-those that measure and those that measure and control. The cement industry has been using instruments for a number of years, particularly in the burning process, primarily for indicating and recording. Automatic process control makes additional use of these instruments, and others, to control variables. Assisted by the instrument manufacturers, engineers at Ideal Cement CO. achieved considerable progress in determining how well the usual recording instruments could be made to control various phases of cement-making. The results of these experiments were used to make the new plant at Houston as wholly automatic as possible.

Jan 2, 1958

By George C. Gibbons

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

Jan 1, 1941

By Frank Reiber

The study of earthquakes long ago developed the fact that by study-ing the travel .times of the various groups of waves from the same earthquake, as received on seismographs :it varying distances, major discont'inuities in the earth's crust, could be reasonably well defined. Using this original discovery, and adapting the mathematical methods originally devised in seismology for determining the depth below the surface at which such discontinuities occur, other investigators were able to develop a new branch of seismology which promises to be extremely useful in extending the boundaries of our information on local conditions Below the earth's surface. As an outstanding example of the applications of this work, we have the so-called " seismograph " exploration of the Gulf Coastal region, which has resulted in the discovery of a large number of salt domes, from many of which oil fields may be developed. The original seismological investigations, from which different major discontinuities in the earth's crust were deduced, as well as these later successful experiments in locating salt-dome structures, involve relatively simple problems. In each case we arc dealing with surface materials in which elastic waves will be propagated with a fairly definite velocity. Under this material we have something quite different', in which the elastic waves will be propagated with a much higher velocity. The transition from one medium to the other is likewise relativtly abrupt. For example, in the Gulf Coastal region the sedimentary formations have a velocity of 6000 or 7000 ft. per sec., while the velocity of elastic waves in the cap rock of a salt dome may exceed 15,000 ft. per sec. Under such conditions, delineation of the formation is a relatively simple matter, and, furthermore, there is very little opportunity for ambiguous results. Development of Elastic-wave Method The success of this Gulf Coast work immediately suggested the advisability of attempting to extend elastic-wave methods to a point

Jan 1, 1929

By Thomas B. Douglas

INSTRUMENTATION in the process industries can no longer be regarded as a convenience, but rather an absolute necessity. Although many chemical processes must already be conducted with instruments, every properly designed application of automatic process control will improve operation: 1) the product will be more uniform and of higher quality; 2) the manual labor saved will reduce cost; 3) uniformity of flow and uniform control of process will increase production; and 4) surges will be eliminated, making it possible to operate equipment near ultimate capacity at all times. Industrial instruments fall into two general classifications—those that measure and those that measure and control. The cement industry has been using instruments for a number of years, particularly in the burning process, primarily for indicatlng and recording. Automatic process control makes additional use of these instruments, and others, to control variables. Assisted by the instrument manufacturers, engineers at Ideal Cement Co. achieved considerable progress in determining how well the usual recording instruments could be made to control various phases of cement-making. The results of these experiments were used to make the new plant at Houston as wholly automatic as possible. The original Houston plant, built in 1937 by Gulf Portland Cement Co., consisted of only one 8 x 220-ft kiln and the necessary grinding mills and accessory equipment and had a capacity of 900 bbl per day (300,000 bbl annually). Ideal Cement Co. purchased this plant in 1940 and almost immediately started plans to increase its production. In 1941 a 9 x 220-ft kiln was installed and grinding and storage capacity were increased. The growing demand for cement in the Houston area necessitated a third kiln (9 ft 6 in. x 250 ft) in 1947. This brought the plant up to its present capacity of about 1.3 million bbl per year. Calcium silicates in cement are produced in a burning operation at high temperatures from raw mix of argillaceous and calcareous materials that have been crushed, mixed, and ground to a fine powder. The composition of this mixture must be kept consistent within narrow limits. Raw mixing and grinding may be done either wet or dry, but in both instances the materials must be correctly proportioned, finely ground, and thoroughly intermixed before entering the kiln. As the raw mix passes through a long horizontal rotary

Jan 1, 1959

By A. B. Parsons

LECTURE, it appears, is a discourse that is supposed to be instructive. I am quite sure that you will derive no instruction from what I have to say. I will be satisfied if my remarks provoke thought along one or two mental paths that have not been traveled so fre¬quently as to be devoid of interest. I have no particular message apropos of professional engineers or professional engineering, and any conclusions that I may seem to reach will be purely tentative and incidental. Probably at times you have wondered, in a casual way at least, why so many people who are not, never have been, and never will be engineers, want to use the title. For example, I recently received a communication from a life insurance broker or salesman, whose chaste letterhead bore the legend "Estate Engineer." He was perfectly serious about it, as is also the expert accountant who assumes the imposing name of cost-analysis engineer. Dozens of equally amazing titles might be cited. Then there is that class of individuals who have been engineers, in the true sense of the word; who have gone into some other kind of occupation; but who cling tenaciously to the name engineer, usually prefixing some word or other which at once gives them away by telling what their work really is. For example, we have such pseudomorphs as the management engineer, and the sales engineer. It is quite evident that engineer is a word to conjure with. Evidently both the man who appro¬priates the designation without any justification and the ex-engineer who persists in calling himself an engineer even after he has abandoned engineer-

Jan 1, 1933

By OWEN H. PERRY

One of man's primary tools is the ordinary screen. Whether of mesh or punched plate, it is fundamental in principle, primitive in its origin, and common in its application through all the world; and yet the screen goes only a part of the way toward the completion of its job of separating materials according to size. It will give a practical and continuous separation according to "size," as generally understood (accurate according to the breadth), but the accurate and continuous separation as to thickness is not a practical function of the screen. Still, all through history, the thickness of particles of material must have been important to many people; therefore, one would expect that some standard method of sizing for thickness would long since have been evolved and that equipment applying that method would be readily available to any in¬dustry. This, however, seems not to be so.

Jan 1, 1949

By M. E. Lombardi

IN comparison with the mining industry the petroleum industry is new and inexperienced, and until now it might have been called the fortunate industry. Its great good fortune consisted in two things; a bountiful supply hidden by nature in the rocks of the earth, and a steady and large increase, during the past twenty-five years, in the demand for petroleum products. It is a remarkable fact that consumption of gasoline in the United States has shown an increase every year since automobiles first became important, and even in 1930 there was a four per cent increase, in spite of the universal depression; the estimated increase if the times had been normal, was ten per cent. This industry has, therefore, not passed

Jan 1, 1931

By OTTO HERRES

TITANIUM is estimated to be the ninth most plentiful element, ranking after iron, aluminum, and magnesium, and ahead of copper, lead, and zinc. Vast quantities of titanium are widespread throughout the world in ore deposits and beach sands. Before the war, processing plants were operated in England, France, Italy, Czechoslovakia, Norway, Russia, Australia, United States, and Japan. In spite of its widespread occurrence, however, the U. S. Department of Justice has held the titanium industry to be a world monopoly and action was taken in the Federal court during the summer of 1945 to enjoin international patent and marketing agreements and to restore free competition. Possibly the rather surprising lack of public familiarity with this industry of international importance arises from its astonishingly rapid development and growth in the strong hands of some of the greatest chemical companies in the world, including the important foreign companies, Imperial Chemical Industries (British), Montecatini (Italian), I. G. Farben (German), and Titan Kogko Kabushiki Kaisha (Japanese). The rapid growth of the titanium industry in the United States is indicated by a tenfold increase of ore imports in the 1930 to 1940 decade before the war began to affect shipments from overseas. The fact that the industry formerly derived practically all ore for chemical processing in American plants from foreign sources probably also accounts for lack of general public knowledge of titanium. In 1939, to meet the requirements of increasing demand for the white pigment. titanium dioxide, more than 250,000 tons of titanium concentrates moved to this country, principally from the Travancore coast of India where the ilmenite concentrate from the beach sand runs as high as 60 per cent in titanium dioxide. Global warfare put a stop to shipping and thus gave rise to the development of titanium mining on a substantial scale in the United States during 1941.

Jan 1, 1946

By AIME AIME

HIS many admirers regard the "official"' candidate for president of the Institute in 1934 as far above the average in ability and capacity; but perhaps his outstanding characteristic is dependability. Some men of great brilliance succeed indifferently because they cannot be relied upon. When Howard Nichols Eavenson undertakes to do something he either does it, or he proves to his own satisfaction that the particular object is not attainable. And the latter outcome is exceptional because his judgment is so good that he generally foresees the impossibility and selects in advance a practical alternative. Though a tireless worker he is pretty sure that his energy is not spent futilely.

Jan 1, 1933

By W. E. Wrather

DURING the war the mineral industry, and metal mining in particular, extended itself more than any other to attain the limit of its productive capacity. Likewise, probably no other industry went quite so far toward jeop¬ardizing its own economic future through depletion of material reserves. Once we looked to Europe for most of the manufactured goods we needed. Our own limited mineral requirements were easily supplied from mines near the Eastern seaboard. With expansion and industrialization, our mineral needs increased in proportion, and the centers of mining activity moved westward to Michigan, Wisconsin, Minnesota, and the Tri-State district, where seemingly inexhaustible high-grade deposits of iron, copper, lead, and zinc ores were opened and rapidly developed.

Jan 1, 1946

By E. D. Gardner

AGAIN in 1945, the fourth year of World War 11, the American mining industry met the necessary demand made upon it for metals. Lack of labor prevented full production in some districts; maximum output, however, was maintained with the man power available. Development work and maintenance of mechanical equipment were neglected in favor of immediate production. Drafting of the younger men continued throughout the year, and the loss of personnel to war industries with higher wage rates continued up to "V-J" Day, Aug. 14. Labor shortages were more critical in 1945 than in 1944 though the man-power situation eased for some districts in the last quarter of the year. The trend in mining for the most part was to increase tons per man-shift by continued increased mechanization and refinements in methods and practices; larger equipment was installed where practicable. Labor shortages, together with the current higher wage rates, have advanced mechanization several years ahead of normal progress. The manpower shortage and the employment of inexperienced men had the effect of decreasing the average efficiency of the individual workman, but this condition was largely balanced by improved organization, greater efforts to improve labor relationship, and increased use of incentive pay systems. Safety instruction was emphasized, personnel contacts were increased, and more frequent foremen meetings were held to clarify contract agreements. Many of the large companies maintained schools to train green workmen.

Jan 1, 1946

F. E. Bachman, Port Henry, N. T. (communication to the Secretary*):—In discussing Mr. o.o.Laudig's paper, the Action of Blast-Furnace Gases Upon Various Iron-Ores,' I took the ground that Mesabi-ore explosions were entirely mechanical; but more observation and later experience has caused me to

Jan 1, 1905

By Leonard C. Grimshaw

The idea of bonding two dissimilar ferrous metals, and making use of both, is an old one. Tips have been brazed onto tool shanks for many years. The bonding of larger pieces to form whole bars and sheets has also been accomplished, but has received little attention in the technical literature, although a number of patents have been issued covering various methods for its accomplishment. There are three main motives behind the manufacture of composite steels. One is that the physical properties of one steel may supplement those of another; a useful, but at the same time, hard, brittle steel may be backed by a soft ductile one, or a stainless steel may be backed by a steel possessing greater strength. Another motive is direct lowering of cost; an expensive steel may be backed by a less expensive one, bringing down the cost of the piece as a whole. The third motive is an indirect lowering of cost, as when a useful steel is backed by a steel that is easier to machine, so that machining cost on a finished product is lowered considerably. Often more than one of these motives lead to a decision to use a composite steel. Previous Methods There are two methods in use that result in tolerably good bonds between ferrous metals: (1) the casting method, and (2) what we shall call the "heat-pressure" method. This "heat-pressure" method covers processes in which the bond is made between two prepared surfaces by heating them and then applying pressure. Usually sufficient pressure must be used to produce appreciable spread and elongation, or else we arc merely brazing and not truly welding. Casting methods for welding together ferrous metals have been used more than 74 years, and are described in the technical literature as applied

Jan 1, 1936

By Leonard C. Grimshaw

The idea of bonding two dissimilar ferrous metals, and making use of both, is an old one. Tips have been brazed onto tool shanks for many years. The bonding of larger pieces to form whole bars and sheets has also been accomplished, but has received little attention in the technical literature, although a number of patents have been issued covering various methods for its accomplishment. There are three main motives behind the manufacture of composite steels. One is that the physical properties of one steel may supplement those of another; a useful, but at the same time, hard, brittle steel may be backed by a soft ductile one, or a stainless steel may be backed by a steel possessing greater strength. Another motive is direct lowering of cost; an expensive steel may be backed by a less expensive one, bringing down the cost of the piece as a whole. The third motive is an indirect lowering of cost, as when a useful steel is backed by a steel that is easier to machine, so that machining cost on a finished product is lowered considerably. Often more than one of these motives lead to a decision to use a composite steel. Previous Methods There are two methods in use that result in tolerably good bonds between ferrous metals: (1) the casting method, and (2) what we shall call the "heat-pressure" method. This "heat-pressure" method covers processes in which the bond is made between two prepared surfaces by heating them and then applying pressure. Usually sufficient pressure must be used to produce appreciable spread and elongation, or else we arc merely brazing and not truly welding. Casting methods for welding together ferrous metals have been used more than 74 years, and are described in the technical literature as applied

Jan 1, 1936