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By Ralph E. Esarey, George V. Cohee

In Indiana, 349 wells were drilled for oil and gas in the year 1942. Of this number, 125 oil wells and 21 gas wells were successfully completed and 203 were dry holes. Drilling activity declined 37 per cent as compared with that of the year 1941. This reduction was brought about largely by Federal Conservation Order M-68, restricting drilling to one well on 40 acres, in order to save steel. This Order was later supplemented to permit closer spacing of wells drilled to sandstone formations in southwestern Indiana. Most of the drilling in 1942 was in the southwestern part of the state. Posey County ranked first, with 94 completions and 44 producers; Gibson County, second, with 77 completions and 38 producing oil wells and 2 gas wells. There were 58 drilling operations in the state at the end of the year. During 1942 a total of 589,734 ft. of hole was drilled, of which 231,702 ft. was wildcat footage. The total initial production of the oil wells completed was 9974 bbl. and of the gas wells, 11,148,000 cu. ft. (Table 2). Of the 349 wells completed, 122 were wildcat wells (Table 3); 26 were completed as oil wells; 17 were extensions to proven fields and 9 discovered new pools. Posey County was foremost in wildcat drilling, with 37 wells completed (Table 6). Thirty-five per cent of the wells drilled in 1942 were wildcat, as compared with 25.5 per cent in 1941. It is anticipated that the percentage of wildcat wells drilled in 1943 will be greater, although the total number ol ,wells drilled in the state will probably be less. The new discoveries in Indiana in I942 were, for the most part, one-well pools in the southwestern part—in Posey, Gibson and Spencer Counties (Table 4). Most of the development in pools took place in the . Hazelton and Kirksville pools in Gibson County, Mr. Vernon pool in Posey County and the Vernon Heights pool in Vander-burgh County. Deeper production was obtained from the Osage limestone in the Hazelton pool at a depth of 2402 ft., 650 ft. below the productive McClosky limestone. The well had an initial production of 140 barrels. Extensions to 17 pools in the southwestern part of the state were successfully completed (Table 5). An interesting development during 1942 was new production from the Devonian limestone in the Dodds Bridge pool, Sullivan County. The Ohio Oil Co. deepened one of its wells, which had been producing from a shallow sand, to the,Devonian, and it was completed for an initial production of 77 bbl. Five other Devonian producing wells were completed in that area. Crude-oil production in Indiana in 1942 was 6,609,000 bbl. (Table I). The Griffin field, Gibson and Posey Counties, which produced approximately 3,550,000 bbl., accounted for more than half of the state's production. The Mt, Vernon and New Harmony fields were next in importance of production, with 684,000 and 523,000 bbl., respectively. The price of crude oil was $1.22 a barrel for the old

Jan 1, 1943

By George V. Cohee, Ralph E. Esarey

In Indiana, 349 wells were drilled for oil and gas in the year 1942. Of this number, 125 oil wells and 21 gas wells were successfully completed and 203 were dry holes. Drilling activity declined 37 per cent as compared with that of the year 1941. This reduction was brought about largely by Federal Conservation Order M-68, restricting drilling to one well on 40 acres, in order to save steel. This Order was later supplemented to permit closer spacing of wells drilled to sandstone formations in southwestern Indiana. Most of the drilling in 1942 was in the southwestern part of the state. Posey County ranked first, with 94 completions and 44 producers; Gibson County, second, with 77 completions and 38 producing oil wells and 2 gas wells. There were 58 drilling operations in the state at the end of the year. During 1942 a total of 589,734 ft. of hole was drilled, of which 231,702 ft. was wildcat footage. The total initial production of the oil wells completed was 9974 bbl. and of the gas wells, 11,148,000 cu. ft. (Table 2). Of the 349 wells completed, 122 were wildcat wells (Table 3); 26 were completed as oil wells; 17 were extensions to proven fields and 9 discovered new pools. Posey County was foremost in wildcat drilling, with 37 wells completed (Table 6). Thirty-five per cent of the wells drilled in 1942 were wildcat, as compared with 25.5 per cent in 1941. It is anticipated that the percentage of wildcat wells drilled in 1943 will be greater, although the total number ol ,wells drilled in the state will probably be less. The new discoveries in Indiana in I942 were, for the most part, one-well pools in the southwestern part—in Posey, Gibson and Spencer Counties (Table 4). Most of the development in pools took place in the . Hazelton and Kirksville pools in Gibson County, Mr. Vernon pool in Posey County and the Vernon Heights pool in Vander-burgh County. Deeper production was obtained from the Osage limestone in the Hazelton pool at a depth of 2402 ft., 650 ft. below the productive McClosky limestone. The well had an initial production of 140 barrels. Extensions to 17 pools in the southwestern part of the state were successfully completed (Table 5). An interesting development during 1942 was new production from the Devonian limestone in the Dodds Bridge pool, Sullivan County. The Ohio Oil Co. deepened one of its wells, which had been producing from a shallow sand, to the,Devonian, and it was completed for an initial production of 77 bbl. Five other Devonian producing wells were completed in that area. Crude-oil production in Indiana in 1942 was 6,609,000 bbl. (Table I). The Griffin field, Gibson and Posey Counties, which produced approximately 3,550,000 bbl., accounted for more than half of the state's production. The Mt, Vernon and New Harmony fields were next in importance of production, with 684,000 and 523,000 bbl., respectively. The price of crude oil was $1.22 a barrel for the old

Jan 1, 1943

By E. R. Johnson

THE copper concentrator of the Braden Copper Co. is at Sewell, Chile, on the western flank of the main Cordillera of the Andes, at an air distance of approximately 50 miles southeast of Santiago, the capital of Chile. The region is mountainous and space is at a premium because of the rough terrain and the danger of snowslides. The ore, a porphyry copper, is mined by a block-caving method in the El Teniente mine. It is hauled to the crushing plant, a distance of 2.6 miles, through a tunnel because of the severe climatic conditions. The usual large, coarsely set, primary reduction machines found in many ore-treating plants are not required because of the mining method employed and the limiting 12-in. spacing of the grizzlies at the head of each ore pass in the mine. It is the purpose of this paper to describe the numerous improvements made in the crushing section of this large flotation concentrator during the past 15 years to increase the efficiency of the plant and to raise the daily output from around 20,000 to 30,000 tons. The reader should keep in mind that all changes were made within the existing building because of the limited space and the high cost of the heavy mill construction required to withstand the snow loads. The present plant, as well as the former, operates on a 24-hr, 7 days a week basis. FORMER PLANT The crushing plant commenced operations at its present site in 1921, the main equipment being No. 7 1/2 gyratories, followed by 48-in. horizontal Symons disk crushers. Fines were removed by 1-in. stationary grizzlies ahead of each unit. In 1924 a third stage of crushing was provided by the addition of 55 1/2-in. rolls in open circuit. During 1925, the Symons disks were replaced by 73 1/2-in. rolls. All the rolls were changed to closed circuit, with elevators and screens to give a final product of 9 pct plus 3-mesh. The flowsheet of a typical crushing section of this period is shown in Fig I. The ore was withdrawn from a common bin serving the five crushing sections in the plant by means of any number up to six 36-in. wide-apron feeders, which discharged onto a common conveyor belt. This conveyor was equipped with a magnetic head pulley and the crusher attendant was stationed near the discharge end to pick out pieces of mine timber that might be in the ore. The ore was discharged over a 1 3/4-in. spaced bar grizzly and the oversize of this grizzly was crushed by a No. 7 1/2 McCully gyratory crusher set at 1 3/4-in. opening on the closed side. The grizzly undersize joined the gyratory discharge and was conveyed to a set of 73 1/2 by 20-in. Garfield rolls set at I in. These rolls operated in closed circuit with a bucket elevator and two vibrating screens placed in parallel.

Jan 1, 1947

By D. C. Porterfield

ProUuction of crude oil in Venezuela increased from 186,134,000 bbl. in 1940 to 2~8,131,ooo bbl. in 1941, or 22.6 per cent, to establish a new all-time high for the country. While the average production for the year was 625,000 bbl. per day, production during the month of December 1941 averaged 751,000 bbl. per day, and during the last week of the year, 766,000 bbl. per day. Production from the Lake Maracaibo basin averaged 454,000 bbl. per day during the year, or 72 per cent of the total for the country, compared with 73 per cent of the total produced in 1940. Drilling during the year was approximately on the same scale as in 1940, with 438 wells completed in 1941 as compared with 429 the year before. Exploratory completions decreased from 18 in 1940 to 6 in 1941. Of the drilling operations in 1941, 56 per cent was concentrated in the Lake Maracaibo basin and 44 per cent in eastern Venezuela, success being 98 per cent in the Lake basin and 83 per cent in the east. Successful completions for the country as a whole amounted to 92 per cent of the total wells drilled. Exploratory drilling in 1941 resulted in the discovery of three new fields, all in eastern Venezuela; viz., Guara, about II km. to the northeast of the Oficina field but on a separate structure; Santa Rosa, which is east of El Roble field on a structure forming a part of the major Santa -Ana- San Joaquin-El Roble uplift; and Santa Barbara, which is southwest of the Jusepin field on an extension of the main Jusepin anticline. At the close of the year three wildcats were drilling, all of which showed prospects of obtaining production; that is, Mercedes No, 2 in central Guarico, Las Ollas No. I on the Anzoategui-Guarico border near the town of Zaraza, and Quiamare No. I in Anzoategui northeast of the town of San Mateo. In spite of heavy withdrawals and the resultant natural decline in the potentials of older producing areas, new drilling during the year increased the potential production of the country from an estimated 780,000 bbl. per day at the end of 1940 to an estimated 810,000 bbl. per day at the end of 1941, or approximately 4 per cent. Since domestic consumption of petroleum products is insignificant compared with total production, exports of crude and products during the year increased in line with production. Crude exports totaled 196,800,000 bbl., compared with 158,400,-000 bbl. in 1940, and exports of products were 26,100,000 bbl., compared with 21,900,000 bbl. the year before. Exports of crude from Venezuela to the United States amounted to 36,500,000 bbl. In addition, about 2,200,000 bbl. was imported in bond into the United States for transfer to Canada. Total refining capacity of the country in 1941 was approximately 125,000 bbl. per day, including a crude-conversion plant with a capacity of 32,000 bbl. per day, capable of making fuel oil only. Three plants with a capacity of 121,000 bbl. Per

Jan 1, 1945

Page Laboratory Methods...........................127 Special Analytical Methods.......................127 Improvements in the Accuracy of the Vacuum-fusion Method for the Determination of Oxygen in Steel....................127 Quantitative Spectrochemical Analysis of Mixtures of Gases.......131 Oxygen Samples from Open-hearth Bath...............133 Rapid Analysis of Sample for Alumina.................139 Accurate Carbon Analyses in Low-carbon Steel.............139 Laboratory Technique for Study of Reactions Involving Liquid Metal. . . . 142 Rotating Liquid Crucibles......................143 Stationary Crucibles.........................145 Jones and Laughlin Experimental Furnace...............148 Vacuum Melting..........................149 Measurement of Temperature of Liquid Iron and Steel;..........149 Pouring and Teeming Temperatures..................149 Bath Temperatures.........................151 Plant Methods.............................154 Methods of Studying Slags.......................154 Sampling Slag in the Open Hearth..................155 Viscosity of Open-hearth Slags....................155 Petrographic Examination of Slag...................156 Statistical Methods Applied to Study and Control of Chemical Relations in Bath...............................166 Rapid Method of -Correlation Applicable to Study of Steelmaking Reactions............................166 INTRODUCTION On Thursday morning, Feb. 16, 1939, a round table discussion was held on the subject of Experimental Methods in the Study of Steelmaking. Dr. John Chipman, Professor of Metallurgy at the Massachusetts Institute of Technology, and chairman of the A.I.M.E. Committee on Physical Chemistry of Steelmaking, presided. In opening the meeting, the chairman said: "The purpose of this round table is to discuss methods of study by which more and better information on the fundamentals of steelmaking can be obtained. It was thought that a round table discussion rather than a symposium would furnish the best opportunity for those actually using various methods of study to get together and discuss their common problems. For this reason attention will be focused upon methods of study rather than upon their results. We want new and current and up-to-date discussion.

Jan 1, 1940

Page Laboratory Methods...........................127 Special Analytical Methods.......................127 Improvements in the Accuracy of the Vacuum-fusion Method for the Determination of Oxygen in Steel....................127 Quantitative Spectrochemical Analysis of Mixtures of Gases.......131 Oxygen Samples from Open-hearth Bath...............133 Rapid Analysis of Sample for Alumina.................139 Accurate Carbon Analyses in Low-carbon Steel.............139 Laboratory Technique for Study of Reactions Involving Liquid Metal. . . . 142 Rotating Liquid Crucibles......................143 Stationary Crucibles.........................145 Jones and Laughlin Experimental Furnace...............148 Vacuum Melting..........................149 Measurement of Temperature of Liquid Iron and Steel;..........149 Pouring and Teeming Temperatures..................149 Bath Temperatures.........................151 Plant Methods.............................154 Methods of Studying Slags.......................154 Sampling Slag in the Open Hearth..................155 Viscosity of Open-hearth Slags....................155 Petrographic Examination of Slag...................156 Statistical Methods Applied to Study and Control of Chemical Relations in Bath...............................166 Rapid Method of -Correlation Applicable to Study of Steelmaking Reactions............................166 INTRODUCTION On Thursday morning, Feb. 16, 1939, a round table discussion was held on the subject of Experimental Methods in the Study of Steelmaking. Dr. John Chipman, Professor of Metallurgy at the Massachusetts Institute of Technology, and chairman of the A.I.M.E. Committee on Physical Chemistry of Steelmaking, presided. In opening the meeting, the chairman said: "The purpose of this round table is to discuss methods of study by which more and better information on the fundamentals of steelmaking can be obtained. It was thought that a round table discussion rather than a symposium would furnish the best opportunity for those actually using various methods of study to get together and discuss their common problems. For this reason attention will be focused upon methods of study rather than upon their results. We want new and current and up-to-date discussion.

Jan 1, 1940

By James P. Kimball

Jan 1, 1881

Robert Campbell Gemmell, assistant managing director of the Jackling allied porphyry mining properties in Utah, New Mexico, Arizona and Nevada, died suddenly on Oct. 25, of heart trouble, while traveling from Hurley, N. M., to Los Angeles. To shape justly even an outline of the brilliant career and uniquely charming personality of Mr; Gemmell is well-nigh impossible, and any effort so to do can but demonstrate the inadequacy of language to sound the depths of soul-stirring sentiments. To touch upon his more important work, and afford even a limited conception of his general worth and character, is all I can hope to do.

Jan 1, 1923

Robert Campbell Gemmell, assistant managing director of the Jackling allied porphyry mining properties in Utah, New Mexico, Arizona and Nevada, died suddenly on Oct. 25, of heart trouble, while traveling from Hurley, N. M., to Los Angeles. To shape justly even an outline of the brilliant career and uniquely charming personality of Mr; Gemmell is well-nigh impossible, and any effort so to do can but demonstrate the inadequacy of language to sound the depths of soul-stirring sentiments. To touch upon his more important work, and afford even a limited conception of his general worth and character, is all I can hope to do.

Jan 1, 1923

By George F. Kunz

THE recently discovered occurrence of diamonds near Murfreesboro, Pike county, Ark., was brought to. our attention by Mr. Samuel W. Reyburn (Trustee for Messrs. C. S. Stifft, A. D. Cohn, August Zinsser, Jr., and himself, owners of the property), through whose courtesy we investigated the locality of the deposit. Prospecting with the diamond-drill is now in active progress ; but mining operations on a large scale have not yet been ordered. Geology.-The geology as well as the petrography of this interesting locality has been well described by Messrs. J. C. Branner and R. N. Brackett.1 Briefly summarized, the igneous rock in which the diamonds are found is a vitreous peridotite, forming a stock or volcanic neck, which has broken up through the Carboniferous and Cretaceous quartzites and sandstones. After an extensive period of erosion, during which an unknown portion of the neck and presumably a previously existent volcanic cone have been removed, the surface was covered with thin beds of Post-Tertiary conglomerate. The volcanic intrusion was accompanied by the formation of several small dikes of a rock much like that of the main body. One of these dikes cuts across the stock, while another cuts the Cretaceous sandstone, but is overlain by the conglomerate, thus giving a datum for the period of intrusion. So far as known, there was little, if any, metamorphism of the country-rock by the igneous magna, which probably followed an approximately vertical course, so that a more or less vertical extension downward of the igneous body to indefinite depths may be expected.

Mar 1, 1908

THE first session was held in the small hall of the Academy of Music, on Tuesday evening, February 18th, 1879. The proceedings were opened by the reading, by President Eckley B. Coxe, of the following Address : SECONDARY TECHNICAL EDUCATION. Technical education is a subject to which both the American Institute of Mining Engineers and the American Society of Civil Engineers have of late years given much attention, and deservedly so. We all remember the admirable address of our former President, Mr. Holley, at the Washington meeting, upon this subject, and the very interesting reunion of the two societies in Philadelphia for its discussion. The problem to the solution of which the meeting devoted its attention was, "Shall the practical education of the engineer in the mine, in the rolling-mill, in the workshop, or in the field, precede, be contemporaneous with, or follow his theoretical studies in the technical school ?" I do not propose to add anything to what was so admirably said by so many of our leading engineers on that occasion ; but I shall ask your attention to another question in technical education, which seems to me equally worthy of our consideration, and which, I am sorry to say, has as yet attracted but little attention in this country. It is, "Shall the apprentices (I call them so for the want of a better general name), who are growing up and learning their trades in and around our mines and works, and from whose ranks the master mechanics and foremen of the future must be taken-shall they be provided with some means of obtaining as much theoretical training as may be necessary to enable them properly to understand the various processes and operations that they may be called upon to superintend, and not be obliged to pick up, as best they may, here a little and there a little truth mingled with much error?" In the former case, those who have the ability and industry to avail themselves of the advantages that should be offered to them would fit themselves to become real foremen, men who would understand and appreciate the true engineer and his methods. Of late years the young men of this country who have wished to enter our profession have had great facilities offered to them for so doing ; there have been undoubtedly great improvements in the methods of instruction; and although I am very far from imagining that no further progress can be made, or is demanded, yet I feel sure that

Jan 1, 1879

By B. Foley

IN THE first report1 disks of steel of known composition and history were exposed, under carefully prescribed conditions, to impacts of explosion products resulting from the explosion of 50-gm. charges of explosives having well-determined rates of detonation, or to impacts of a weight of known mass, falling through measured distances. There were available at the Bureau of Mines Experiment Station five explosives, having rates of detonation of 5716, 4470, 3190, 2296, and 1523 meters per second. It being desired to continue this exposure downward, and no explosives with a lesser rate of detonation being at hand, resort was had to the impact of a falling weight, the differences in the velocity of impact being attained by varying the height from which the weight was allowed to fall. It was expected by this means to demonstrate experimentally that the development of Neumann bands was determined by the suddenness of the deformation of the metal in which they were produced. But while progressive deformations were obtained with the explosive arges, the falling-weight method failed because the tup was ogressively deformed, also the disks were so flattened as to be unfit for metallographic examination. A return, therefore, has been made to the use of explosives as the source of energy, an air-gap being interposed between the charge of explosive and the disk, as the effect diminishes as the function of the distance between the charge and the object on which the products of its explosion, or the shock wave from its detonation, impinge. The details of the arrangement of the tests by the air-gap method were the same as those described by Foley and Howell,2 except that after the system had been set up and the desired apparent specific gravity for the explosive

Jan 2, 1926

By Roland Blanchard

Recent discovery at Mount Isa of copper mineralization in commercial amount at a depth of 1000 ft., coinciding with downward termination of ore at about the same depth within the larger silver-lead-zinc lenses that have been the standby of Mount Isa's production to date, has been cited as an example in support of mineral zoning. A previous paper by the author and Graham Hall1 furnished a detailed description of the geology of the ore at Mount Isa as exposed up to that time, but necessarily dealt mainly with the silver-lead-zinc mineralization. Most of the geologic facts that constitute the first half of the present paper were set forth in the previous one in much greater detail, with full supporting evidence for the facts cited. The large amount of underground development (approximately 20 miles) and the extensive exploration carried out by diamond drilling (100,000 ft.) at Mount Isa, added to extensive microscope work conducted over a period of years, both by the company's staff and by others, had made possible the calculation within fairly close limits of mineralogical composition of the principal mineralized block of ground down to 1000-ft. depth, and had established closely the mineral succession, with reasons for deposition of the various minerals in the patterns now occupied by them. The geologic facts as outlined in the previous paper remain as stated; but because substantial development within the new copper ore body and further exploratory diamond drilling within the new silver-lead-zinc area (Racecourse) have taken place since that paper was written, statements and figures relating to those two areas in the present paper supersede those furnished in the previous one. The recent work likewise has established more clearly the paragenetic relationship between the chalco-pyrite and galena. Evidence confirming the relationship is furnished in the present paper. The facts of ore occurrence at Mount Isa show Accepted Zonal Succession Silver sulphantimonides Galena Sphalerite Tetrahedrite Arsenical sulphides Chalcopyrite Pyrrhotite Mount Isa Succession I In the main but prob- Silver sulphantimonides ably not wholly Tetrahedrite I contemporaneous Galena Pyrrhotite Sphalerite Arsenical sulphides They show further: (I) that instead of the silver-lead minerals yielding to increased zinc in depth, the zinc yields to increased silver-lead; (2) no dovetailing of the silver-lead-zinc sulphides into chalcopyrite takes place; (3) despite the large amount of pyrrhotite deposited in the district (estimated at upward of 100,000,000 tons), its deposition took place under moderately low temperature conditions; (4) no evidence has been found for increase in temperature of deposition, with depth, to deepest exploration in ore (1475 ft.). The anomalous condition at Mount Jsa, both as to the unorthodox mineral succession and the largely unorthodox patteru of mineral distribution, is explained in the present paper,

Jan 1, 1949

By Roland Blanchard

Recent discovery at Mount Isa of copper mineralization in commercial amount at a depth of 1000 ft., coinciding with downward termination of ore at about the same depth within the larger silver-lead-zinc lenses that have been the standby of Mount Isa's production to date, has been cited as an example in support of mineral zoning. A previous paper by the author and Graham Hall1 furnished a detailed description of the geology of the ore at Mount Isa as exposed up to that time, but necessarily dealt mainly with the silver-lead-zinc mineralization. Most of the geologic facts that constitute the first half of the present paper were set forth in the previous one in much greater detail, with full supporting evidence for the facts cited. The large amount of underground development (approximately 20 miles) and the extensive exploration carried out by diamond drilling (100,000 ft.) at Mount Isa, added to extensive microscope work conducted over a period of years, both by the company's staff and by others, had made possible the calculation within fairly close limits of mineralogical composition of the principal mineralized block of ground down to 1000-ft. depth, and had established closely the mineral succession, with reasons for deposition of the various minerals in the patterns now occupied by them. The geologic facts as outlined in the previous paper remain as stated; but because substantial development within the new copper ore body and further exploratory diamond drilling within the new silver-lead-zinc area (Racecourse) have taken place since that paper was written, statements and figures relating to those two areas in the present paper supersede those furnished in the previous one. The recent work likewise has established more clearly the paragenetic relationship between the chalco-pyrite and galena. Evidence confirming the relationship is furnished in the present paper. The facts of ore occurrence at Mount Isa show Accepted Zonal Succession Silver sulphantimonides Galena Sphalerite Tetrahedrite Arsenical sulphides Chalcopyrite Pyrrhotite Mount Isa Succession I In the main but prob- Silver sulphantimonides ably not wholly Tetrahedrite I contemporaneous Galena Pyrrhotite Sphalerite Arsenical sulphides They show further: (I) that instead of the silver-lead minerals yielding to increased zinc in depth, the zinc yields to increased silver-lead; (2) no dovetailing of the silver-lead-zinc sulphides into chalcopyrite takes place; (3) despite the large amount of pyrrhotite deposited in the district (estimated at upward of 100,000,000 tons), its deposition took place under moderately low temperature conditions; (4) no evidence has been found for increase in temperature of deposition, with depth, to deepest exploration in ore (1475 ft.). The anomalous condition at Mount Jsa, both as to the unorthodox mineral succession and the largely unorthodox patteru of mineral distribution, is explained in the present paper,

Jan 1, 1949

By Herbert Hoover

BOTH the directors of industry and your leaders have made great progress toward a new and common . ground in economic conceptions, which, I am confident, has had a profound effect upon our economic progress during the last few years. That is the conception that industry must be constantly renovated by scientific research and invention; that labor welcomes those labor-saving devices; that labor gives its full and unrestricted effort to reduce costs by the use of these machines and methods; that the savings from these reduced costs shall be shared among labor, employer and the consumer.

Jan 1, 1930

By Forest Mintz

Many oil and gas producers find it advantageous to borrow against the value of their hydrocarbon re- serves. This paper considers the requirements for a reserve based loan and the calculations that a bank would perform to arrive at a loan amount. Three of the most common loan structures, i.e. a term loan, a production payment, and a revolving credit/term loan will be discussed. A typical outline for each type of loan is presented. Finally, a comparison of major considerations in the three financing techniques is shown.

Jan 1, 1982

By James P. Kimball

AMONG the curious results of the recent advance of prices in the iron trade of the United States, one of them at least is to be regarded as of great importance. I allude to the utilization of mill cinder as a cheap and almost costless substitute for high-priced iron ores in many blast furnaces, situated within easy reach of such raw material. It has been, with but few exceptions, the practice in this country, based upon tradition rather than upon authority or European precedents, to waste this material on 'account of its high proportion of silicic and phosphoric acids, although known to contain more iron than most ores, and although also known to be sometimes applied to the blast furnace in greater or less quantities without serious detriment to the iron for specific purposes. While in use to a limited extent in the Hocking Valley and Hanging Rock iron regions of Ohio for several years, its use in Western Pennsylvania has only become general of late, under the exigencies of high prices and a short supply of ore. Especially has mill cinder largely entered into the stock of furnaces attached to rolling mills in and about Pittsburgh. Under such circumstances the cinder pig has been paddled on the premises, and the malleable iron produced has been unexpectedly good. Cautiously as at first mill cinder has been applied, it is evident that the temptation to use it freely is a strong one whenever the commercial rates for high-class ores are out of proportion to the general conditions of the iron trade, as sometimes happens in this country, especially as the free use of it is apparently justified by the quality of the iron produced from this cheap and abundant material. Indeed the consumption of cinder pig has., not been wholly confined to mills using up the production of furnaces belonging to the same plant. One furnace at least on the Ohio, at Covington, for several' months has been making foundry pig from "all cinder." The iron has gone into the general trade. It is probable that malleable iron of good quality can he made from the poorest cinder pig, but with what degree of economy will

Jan 1, 1881

By Frederick T. Williams

THE purpose of this paper is to discuss the relative merits of the large 31/8 in. machine and the small 21/4-in. tappett machine in driving development-headings ; and although the . data here presented were obtained from cross-cut headings alone, experience has shown that the results are equally true in drifting, raising and winning. Recently we drove two parallel cross-cuts through the same formation, using a 3k-in. machine at the breast of one cross-cut., and a 2k-in. machine of the same make at the breast of the other. The results of this work afforded an ideal comparison, since in both cases the headings were advanced through rock practically of the same hardness and breaking-properties ; the amount of sludging was equal, and there was no difference in the condition of the steel or the machines, in the air-pressure or in the experience of the operating-crews. Some operators in the Cripple Creek district contend that there is ground which cannot be handled with the small machine, the holes being too small to contain enough powder to pull the ground, etc. The results obtained in working the property of the Portland Gold Mining Co., however, show that the ground worked by them does not fall in this class. During a period of two years there have been driven, with the small machine, 4 miles and 308 ft. of development-headings, through a diversity of ground, including Pike's Peak granite (a coarsely porphyritic type of granite), highly indurated, andesitic or phonolytic breccia, true massive andesite, trachytic phonolyte, tuffas, and along dikes of decomposed basalt and hard phonolyte; in every instance a satisfactory record was made. The headings here described were driven through highly indurated, andesitic breccia, having a hardness of from 5.2 to 7.2

Mar 1, 1906

By Edwin Ludlow

T HE OPEN FORUM on this subject called by Mr. Hoover at the recent meeting of the Institute' brought out a large number of very able papers, and a very full discussion of all the problems involved. The criticisms of the bituminous industry were: 1. That it was over-developed with the possible output nearly 50 per cent. in excess of the present requirements; that during the summer there were plenty of cars and no orders, and during the winter there were plenty of orders but no cars. 2. That the mines were not properly developed from an engineering standpoint, and that the recovery of the coal varies from 50 per cent. to 95 per cent. 3. That this industry, employing over 600,000 men, could, if running full time, release 100,000 men for other work. 4. That the studies made by the engineers of the Fuel Administration showed that the cost of production increased with a loss of time and that with a 50 per cent. operation the increase in cost was about 40 per cent.

Jan 1, 1920

By WILLARD HAYES

(Glen Summit Meeting, June, 1911.) THE determination of the question whether the Mayari and Moa mining-claims of the Spanish-American Iron Co. have been rightly denounced under the third section of the law of bases rests on the findings in the following questions of fact: 1. Is the mineral an iron-ore? 2. Is the iron-ore a bog iron-ore? 3. Is the iron-ore ocher? 4. If ocher is present, can it be mined separately and independently of the iron-ore ? 1. IS THE MINERAL AN IRON-ORE? Since the material is shown by a large number of analyses to contain from 41. to 50 per cent. of metallic iron and less than 0.02 per cent. of phosphorus, and since it has been and is being actually used on a commercial scale for the production of iron and steel, it must be classed as an iron-ore. 2. IS THE IRON-ORE A BOG IRON-ORE? Bog iron-ore has certain invariable characteristics of chemical composition, physical appearance, geological relations, and origin by which it can always be recognized with certainty. In chemical composition, it is the hydrated sesquioxide of iron, limonite, or a mixture of limonite and other closely-related iron hydrates. It never contains the anhydrous oxides-hematite or magnetite; is never magnetic, and never contains either nickel, chromium, or cobalt oxides. On the other hand, it is invariably high in phosphorus-content. In physical appearance and texture it is a yellow or reddish-brown amorphous spongy material, and always contains water-worn sand-grains, silt, clay, and plant-remains. In its geological relations it is wholly independent of the rock

Mar 1, 1911