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By H. B. FERNALD

THE interesting and carefully developed formula which Professor Bucky presents for answering the question of whether proposed new equipment will give a net return on investment equal to or greater than that on present equipment starts with an assumption that the management may make this relative return a determining factor in its decision whether or not the new equipment should be provided. I do not question that in some cases the management may take this position, but I would point out the error involved in so doing. The proper test is not a comparison of the return on new as compared with the return on old investment, but is rather a comparison of the return on a particular new investment as compared with the return which would be obtainable from some other new investment which now might be made. Then I would point out that I believe Professor Bucky is in error in using as a factor in his computations the item of unamortized cost of old investment. The financial advantage to be derived from a new investment does not depend on the extent to which we may in the past have written off the cost of old equipment, nor does it even depend upon what was the original cost of that old equipment. Even the salvage or resale value of the old equipment will only enter into the picture to the extent that the present salvage or resale value differs from the ultimate salvage or resale value otherwise to be obtained, after due allowance for the interest factor.

Jan 1, 1930

By G. M. BUTLER

TWENTY-ONE of the states in the Union, the Territory of Hawaii, and seven provinces of Canada now have in operation laws requiring that professional engineers be registered or licensed. In addition, two states require that civil engineers be registered, and one other state demands registration of structural engineers. Moreover, nearly every year sees additions made to the list. The registration movement, fostered by the American Association of Engineers, now has the powerful, energetic backing of the An1,erican Society of Civil Engineers, which is itself now fostering registration legislation, and there is a strong sentiment in favor of registration in the American Institute of Electrical Engineers and the American Society of Mechanical Engineers. Only in the American Institute of Mining and Metallurgical Engineers is anti-registration sentiment, strongly dominant, but many members of this organization are enthusiastic advocates of registration.

Jan 1, 1930

By AIME AIME

THE 139th meeting of the Institute will be held Feb. 17-20, in the Engineering Societies Building, New York. The annual business meeting will be held on Feb. 18 at 10 a. m., and no technical sessions will be scheduled at that time, so that all members may participate in the election of officers, hear the presentation of the annual reports of officers and committees and discuss any matter which they may care to bring up at that time. The annual dinner will be held at the Conlmodore Hotel on the evening of Feb. 20, and the usual good time is promised. Arrangements for this and other social features of the meeting are, as usual, in hands of the New York Sec- tion, of which the chairman this year, Ralph M. Roosevelt, has a well-established reputation earned as president of the Zinc Institute, as host.

Jan 1, 1930

By AIME AIME

THE Petroleum Division will hold its first fall meeting in Tulsa, Okla., Thursday and Friday,' Oct. 2 and 3, preceding the. International Petroleum Exposition that opens there on Oct. 4. Headquarters will be at the Hotel Mayo, and members planning to attend should make reservations promptly because of the large attendance expected at the Exposition. The program for Thursday will feature production engineering problems and that for Friday the unit operation of oil pools. The principal papers planned for the various sessions are as follows:

Jan 1, 1930

By Frank Haas

THE public generally has-become aware that there is something wrong with the coal industry and a clamor has arisen for an explanation if not a remedy for this disorder. It is only reasonable that this Institute be looked to for a diagnosis to show the way for some other .agency to prepare the patient for prescription or operation. The subject is extensive, widely diversified, and beyond the efforts of an individual to cover completely; one of the objects of this paper is the initiating of a symposium on the non- technical factors essential to an understanding of the bituminous coal industry. The present condition of the coal industry cannot be described in a few words but, in effect, it resolves itself into a simple statement: The average coal operator is losing money notwithstanding a firm conviction on the part of the consumer that he pays too much for his coal. Without enumerating the many and varied. factors which contribute to this condition, this paper will be devoted to the interrelation of taxation and ownership of coal and its effect on finance

Jan 1, 1930

By AIME AIME

THE annual meeting of the Woman's Auxiliary to the A.I. M.E. is always held in New York, in con- junction with the annual meeting of the Institute in February. Business sessions, teas, dances, a theater party, luncheons, excursions, and many other interesting activities filled the four days to overflowing. In all ,216 women were present, from all parts of the United ,/ mates, and there were several from Canada. On Mon- ' day not only the visitors, but the New York members also, gathered around the registration desks, where Mrs. E. N. Wolfes, Mrs. S. J. Jennings, and Miss Georgene Davis saw that everyone was properly registered and provided with tickets to whatever functions she desired to attend. Greetings were eagerly ex- changed as friends met at the luncheon on the fifth floor, where the hostesses of the day were Mrs. J. D. Handy, Mrs. T. T. Read, Mrs. Sidney Rolle and Mrs. H. J. Wolf. In the afternoon, there were visits to art galleries and other interesting exhibits, arranged by Mrs. Frederick Laist. Mrs. W. H. Bassett was the hostess at a very delightful Thé damant at the Italian Gardens of the Ambassador Hotel. Many of the men attended this function also. In the evening the visiting ladies were entertained at a theater party, with Mrs. Wilbur Judson as hostess. The play that was seen was Gorki's "At. the Bottom."

Jan 1, 1930

By FRANK COLE

THE territory covered in this discussion includes all the states west of the Mississippi river. Agriculture is expanding each year in this section, but until recent years the application of commercial fertilizers as an aid to crop production was not practised to any great extent. The use of commercial fertilizers has increased somewhat, but is still on a small basis as compared with the tonnages used else- where in the United States. During 1928 these western states used 665,100 tons of all classes of fertilizer as compared 'with 7,933,600 tons used in the whole United States; or this western area, compromising near- ly two-thirds the land area, uses about 5 per cent of the total fertilizer. To show how large a tonnage one state may consume, North Carolina for the year 192s used 1,349,360 tons of commercial fertilizer or about twice the amount used by 22 western states.

Jan 1, 1930

By W. F. NETZZEBAND

THE long-hole drill has been used for prospecting underground in the tri-State district for several years, and its value has been pretty thoroughly proved. An attempt was made to get a statement of their experience with the machine from all the operators who were known to have used the machine. The majority of them replied to the questionnaire so that this paper is practically a summary of the experience of the district, together with some practical details taken from the experience of the Eagle-Picher Lead Company. When the drill was first used by the Eagle-Picher Lead Co., it was put in low headings and was mounted on a cross-arm supported by two drill columns. This was found to be a rather awkward method of mounting, because fairly long moves were made and the same drill columns could not be used on any two successive set-ups. The machine was later moved to a mine with high headings so that this type of mounting was found to be impractical. A heavy tripod was tried and found satisfactory, provided care was taken to see that the set-up was solid. The Evans-Wallower Lead Co. and the Century Zinc Co. report using the double post set-up, but the headings are low in these mines. The Commerce Mining St Royalty Co. first used the double-post mounting in high headings by cutting a niche in the wall and setting the post in it. This proved to be a slow and expensive method and was later abandoned for the tripod. The Federal Mining & Smelting Co. has used a tripod throughout its operations. Great care must be taken in using the tripod to see that the set-up is solid. Wherever possible it is advisable to sludge in the legs and let them set a short time before the machine is put into use. Where high bottom is encountered the Eagle-Picher operator found it advisable to drill jack- hammer holes in the bottom and drive the legs into them.

Jan 1, 1930

By Joseph E. Pogue

THERE are two methods employed in the development of oil pools. The older and dominant method is one in which the primary object is the protection of the underground deposit from drainage through competing wells, and considerations of efficiency of extraction and cost of production are subordinated thereto. The newer and less prevalent method is one in which maximum efficiency and minimum cost are the first objectives and developments to these ends may proceed undisturbed by the exigencies of competitive drainage. The second method has developed mainly in pools under single ownership and the term "unit operation" has come to be applied to this procedure. A single ownership, however, is not essential to the method, for unity of operation may be achieved by agreement under split ownership, or even by a concert of enlightened purpose. There are examples of unit operation where neither the ownership nor the management is a unit, but merely where unity of procedure has been attained, as is the case of the Yates pool. .Throughout this paper unit operation is used in its broad sense without implying sole ownership or single management, although unit operation is more conveniently attained where these conditions are present.

Jan 1, 1930

By James Douglas

PROBABLY no well-informed engineer would ques¬tion the accuracy of the statement that the piece of equipment that comes nearest to being in universal use in modern hydrometallurgical and ore-dressing plants is the Dorr continuous thickener. The function of the device is to separate a thin mixture of liquid and solid particles into a thick pulp and a clear liquor. Another machine in wide use is the Dorr classifier, the purpose of which is to separate the coarse and fine particles in a pulp containing solids of various sizes. It is in recognition of the invention of these two devices and the vast amount of technical work in the successful application of them in the beneficiation of ores that the James Douglas Medal for 1930 has been awarded to John Van Nostrand Dorr. To gage the importance of the development of the thickener, particularly, it is only necessary to imagine the loss of time, capacity, and metallurgical efficiency that would result if all the Dorr tanks in the world were put out of operation for a day and replaced by the old methods of intermittent settling and decantation. Truly, the record is one of "distinguished achievement in non-ferrous metallurgy" that deservedly ranks the medalist with those who have preceded

Jan 1, 1930

By C. S. Harloff, Frank R. Corwin

THE Nichols Copper Co., associated with the Phelps Dodge Corp. and the Calumet & Arizona Mining Co., has constructed at El Paso, Tex., and is now operating a copper refinery with a yearly capacity of 100,000 tons of anodes. Transportation facilities were perhaps the most important of the considerations that led to the selection of this site. The rapid industrial development of the Middle and Far West has increased the consumption of copper there. The advantage of local refining as against shipping the copper to the Atlantic sea- board is apparent. Copper refined in the Southwest is equally competitive for export shipment, either from the Gulf or the Pacific Coast ports. The tonnage of copper produced in the Southwest not only justifies the construction of this plant, but may warrant considerable expansion in years to come.

Jan 1, 1930

By C. E. BOCKUSD

WHEN Mr. Bain asked me to lunch with you he requested that I say a few words as to how the Institute could be helpful to the bituminous coal industry. I feel like saying, "Thank you, what have you?" I do not want to trace in detail the story that is old already to many of you. On the other hand it does take some little stage-setting to illustrate what is the matter in the bituminous coal industry, a trouble that must some day be cured. There has been something over a century of bituminous coal production as a real business in this country. True, Joliet and Marquette discovered coal in Illinois in 1673, according to published accounts of their travels, and shortly thereafter Father Hennepin also found Illinois coal in 1689. Coal was mined near Richmond in 1750, and Richmond shipped coal to New York and Philadelphia in 1789. But it was not until 1838 that the production of bituminous coal in this country totaled a yearly output equal to the minimum for one class A mine today, for that was the first year that production exceeded 200,000 tons.

Jan 1, 1930

By M. TAYLOR

AT Grand Saline, some 65 miles east of Dallas, the Morton Salt Co. of Chicago has for some years operated a brine pumping and evaporation plant on a salt dome. They recently drilled trial holes to obtain data on the dome, preparatory to opening, a new mine, with the following results: The dome is in the form of a truncated cone, with an average of 210 ft. of cover. The top of the dome is approximately one mile in diameter, with the town of Grand Saline lying over the northern rim, and the sides slope off at an angle of 50" to 80" from the horizontal. The deepest holes were drilled to 900 ft. without penetrating beyond the salt, and indications are that the salt deposit is several thousand feet thick. As the deposit increases in area with the depth, there is undoubtedly enough salt to supply a mining operation for an almost unlimited period of years.

Jan 1, 1930

By FRANK RIEBERS

IN DISCUSSING the selection of a geophysical method, much of what the writer will say is applicable to any of the various methods and to their use in prospecting, whether for oil or for other minerals. Specifically, the writer's subject is the problem, particularly pressing on the Pacific Coast, of checking the rising cost of the discovery of new fields by the proper employment of geophysical methods. Table I was prepared from statistics published by the California State Milling Bureau. The writer selected five of the largest a:ld most active companies operating in California, segregated the number of wild-

Jan 1, 1930

By E. H. Sellards

ON Oct. 9, 1929, a sink formed in the Sour Lake salt dome oil field in Texas, and on Oct. 12 a second smaller sink formed at the north margin of the first. The purpose of this paper is to give such observations as it has been possible to make on the earth movement incident to this subsidence. Sour Lake salt dome is typical of the salt domes of the Gulf Coastal Plain of Texas. Structurally the dome is a plug of salt which rises to within 900 ft. or less of the surface. Above the salt is a cap rock consisting of anhydrite with more or less calcium carbonate. The salt plug, as contoured on the cap rock, is circular in outline with, however, some appreciable irregularities. Overlying the cap rock are relatively uncompacted sediments consisting of sand, clay and gumbo.. At the crest of the dome these deposits are no more than 700 or 800 ft. thick. However, the sides of the dome are steep, and the sediments thicken rapidly away from the crest. The sink formed about 1500 ft. northeast of the crest of the dome where the sediments overlying the cap rock are from 1000 to 1200 ft. thick. The cavity permitting the subsidence was quite certainly either in the cap rock or in the salt below the cap rock, so that the sink was formed by the caving of as much as 1000 or 1200 ft. of earth.

Jan 1, 1930

By CARLE R. HAYWARDC

BEFORE discussing this subject it is necessary to define somewhat the meaning of the tern metallurgical.. When I was a student at M. I. T. ore-dressing was not thought of as metallurgy in any sense of the word, but it was considered as more closely allied to mining, enabling the miner to market an otherwise unmarketable product, or at least to market it to better advantage. Progress in ore-dressing has gradually allied it more closely with smelting, for at present the raw material received by the smelter is predominantly concentrates and smelting practice has been profoundly affected by the products of the concentrating mill. It is not surprising therefore that in many schools ore-dressing is frankly considered as metallurgy and although there may be some dissenting opinions it will be considered as such in this discussion. Twenty-five years ago at M. I. T. metallography was taught in a few optional lectures. This subject has developed rapidly and been expanded into the new and increasingly important field of physical metallurgy. To many metallurgists the -term metallurgy means only physical metallurgy. They know little or nothing about smelting and leaching and even less about ore-dressing. Having then broadened the scope of the term metal¬lurgy to cover ore-dressing, smelting, leaching and phys-

Jan 1, 1930

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 James Aston

INDICATIVE of the practical importance of the achievement of James Aston , recipient of the Robert W. Hunt Medal for 1930, is the following prosaic item from the financial columns of a recent issue of a New York newspaper. "According to private advices from Pittsburgh, production costs of the A. M. Byers Co. for 1929 were reduced about $5 a ton by the use of the Aston process for making wrought iron pipe. A greater saving is anticipated for 1930, when more of the company?s requirements will be produced by the new method."

Jan 1, 1930

By AIME AIME

IN furtherance of the policy of acquainting those members of the Institute who live at a distance from New York with all the details of administration, the thirty delegates sent by the local sections and the technical divisions were invited to attend the meeting of the Directors on Tuesday evening as well as the Directors' dinner immediately preceding. Including the Directors and officers, new and old, the members of the Papers and Publications Committee and the section delegates, more than 70 sat down at the dinner table in the Engineers Club. The attendance at the business meeting that followed was not quite so large, doubtless for the reason that the ladies' fashion show, held in connection with the informal dance, offered attraction that eclipsed that of watching the wheels of Institute business go around.

Jan 1, 1930

By AIME AIME

T HE Institute of Metals Division and the Iron and Steel Division will meet jointly at the Stevens Hotel, Chicago, during the week of the American Metals Congress, Sept. 22-26. The Iron and Steel Di- vision of the American Society of Mechanical Engineers, the American Society for Steel Treating and the American Welding Society meet at the same time. but the sessions have been arranged to conflict as little as possible. A rich program of papers and plant visits has been arranged for the members and guests of the two Institute Divisions. The annual dinner and a pro- gram of entertainment are being arranged by the Woman's Auxiliary of the Chicago Section. Members are urged to register immediately up011 arrival and to make dinner and plant visit reservations at the same time.

Jan 1, 1930