Search Documents

By Sultan Amerie

PERSIA looms up more prominently each year as one of the richest oilfields in the world. The actual production in the south and the possibilities in both the north and the south are very great. The output in the south, where the Anglo-Persian Oil Co. operates a wide concession, is steadily increasing, the returns for the fiscal year 1922-23 being 2,957,028 tons. The estimated production for. 1923-24 is 3,775,000 tons. The figures for the past few years have been as follows: 1918-19 1,106,415 tons 1920-21 1,743,557 tons 1919-20 1,385,301 tons 1921-22 2,327,221 tons According to the company's last annual report, the production from the -Persian fields operated by its subsidiaries has been well maintained and is now being increased to deal with the expanding off-take of the company's refineries at Abadan, Persia, and Dandarcy, Wales. Test drilling in an entirely different area in Persia indicates the existence of a new oilfield, which it is intended for the time being to hold as a reserve.

Jan 3, 1924

By F. Julius Fohs

TAKING into consideration the present state of geologic knowledge and present economic status of the oil industry, we have attempted to outline the six principal districts in which oil occurs and new pools may be expected. The map, Fig. 1, also shows the location of the present productive pools-about 100 in number. The unshaded areas represent territory where drilling depths to known sands are prohibitive with present development and pumping methods, or such sands are absent or give promise of such small production that deep wildcat tests are unwarranted. They include, also, territory where the oil-source materials are absent or not of the right type; and where shales are insufficient in the stratigraphic section to prevent the escape of oil and gas. Some doubtful districts are also included, such as the Pecos Valley, where the percentage of rigid beds, sandstones and limestones may be too great; and the Nacogdoches oil field, where small shallow production is obtained but where deep or large production is unlikely. The map is not offered as final but in the hope that it may prevent the expenditure of large sums in attempted development of unlikely territory and as the warning that those who drill in the unshaded territory do so at great risk. Those who drill in such territory should have large sums available for pioneering and experimenting and only attempt it if they can well afford to lose the money expended. Search in the shaded or cross-hatched areas is hazardous enough and should only be undertaken after detailed geologic surveys. Out of a total area of 256,000 sq. mi., the oil and gas districts comprise about 80,000 sq. mi.; the territory embraced in these districts is shown in the shaded portions. This may ultimately be increased somewhat by the addition of some minor districts, but such additions will be offset by territory probably now included in the unshaded areas. The shaded areas probably contain 98 per cent. or more of the ultimate production of the state, despite the fact that they represent only 31 per cent. of the total area.

Jan 3, 1924

By P. Martignan

THE year 1923 has seen new developments in the only French wells, i.e., those of Pechelbronn, Alsace. The output of the two pits now in operation totaled more than 75,000 tons, although there was a two months' strike. It is expected that 1924 will see an output of 85,000 tons; and 1925, 100,000 tons. A new pit has just been put in operation (fourth pit; the third not being in operation). The oil and the oil sands are extracted at a depth of 350 meters. Special attention has been given to the development of the distillation and refinery plants, particularly the manufacturing of lubricating oils. The present output of the lubricating-oil factories is approximately 20,000 tons neutral oils; 20,000 tons spindle oils, together with 2000 tons of paraffin. Engineers are introducing the most modern American processes of refinery and distillation. The company has 3000 employees. The capital of the company has just been increased from 45,000,000 francs to 81,000,000 francs. Some other drilling has been done in the Auvergne and Landes districts, and some oil has been found, but in too small quantities for commercial operation. Great hopes, however, are entertained of finding large quantities of oil, and the French Chambers have voted a special fund of 20,000,000 francs for investigating oil in France. Much work has also been done in the Colonies but without much success; oil is found in different districts of Tunis, but in relatively small quantities. In Morocco, drillings have not been successful. A prospecting mission recently returned from Madagascar gave an optimistic report concerning the oil conditions on the Island. Prospectings are being made also in French Indo-China. The present domestic yearly consumption is about: Gasoline 750,000 metric tons, kerosene 70,000 metric tons, automobile lubricating oil 75,000 metric tons.

Jan 3, 1924

By F. W. Davis

This paper deals in a general way with certain of the necessary requirements of refractories for the open-hearth furnace. The refractories in common use for the different parts are discussed both as to the service they are giving and their suitability to withstand existing chemical, thermal and physical requirements. The relation between the service and allowable cost of a refractory is discussed and suggestions are requested on these points. The purpose of this paper is not to report, to the Institute, the results so far obtained in the survey, by the Bureau of Mines, of the metallurgical requirements for open-hearth refractories, but to present an outline that we hope will serve as a basis for discussion. The systematic survey that the Bureau proposes to make has not been outlined, although considerable preliminary work has been done in the way of interviewing open-hearth superintendents in several of the larger steel plants from the Chicago district eastward. At the several conferences so many of the opinions were diametrically opposite, when considering the same point, that it was thought that such an opportunity as the Institute offers in the way of a clearing house for moot metallurgical topics should not be overlooked. For this reason, the paper has been prepared as a basis for a discussion which, it is believed, will be of value in outlining the program of the Bureau. D. A. LYON, Assistant Director. THE importance of securing suitable refractories for metallurgical operations is daily becoming more universally recognized; particularly in the manufacture of open-hearth steel, where the life and earning power of the furnace depends largely on the judgment and care exercised in the selection of the correct quality of refractory for each of the parts. Any innovation that would make available to the steel manufacturers refractories with longer life or better suited to their needs than those now employed, and at a cost that would permit of their use, would be of enormous value to the industry at large. It is quite probable that revolutionary changes would not be necessary. Material now used in some parts of

Jan 3, 1924

By L. G. Huntley

Points out differences between the new, more liberal, law passed by the Colombian Congress and the law passed in 1919, gives a few facts about the pipe-line concession granted to a Canadian company, and tells of new drilling developments. PROBABLY the most important development in the Colombian oil situation during the past year was the passage by Congress of a new petroleum law, which went into effect Jan. 31, 1923. The principal points of interest in which this new law changes or improves the previous one are as follows: Law 120 of 1919 provided that one person or corporation could not acquire more than three exploitation zones. of 5000 ha. each, and royalties were based on a sliding scale, to wit: 6 per cent. royalty on lands 400 km., or more, from the ocean; 8 per cent. on lands 200 but not over 400 km. from the ocean, and 10 per cent. royalty on lands located less than 200 km. from the ocean. Rentals were fixed at 10 centavos per hectare for the first year; 20 centavos for the second year; 50 centavos, third year, and $1 (one peso) yearly thereafter. Under this law the term of the lease was fixed at 20 years and, at the discretion of the government, could be extended for 10 years additional. After the expiration of the lease and its corresponding extension, the machinery and other material placed upon the property would vest in the government. A bond of 20,000 pesos was also required of the lessee to guarantee faithful performance of his contract.

Jan 3, 1924

By Francis Foley

Small cracks in a plane normal to the axis of steels are found to be prevalent around the water hole of drill steels that have been in service for an unknown period of time. Cracks are not found on the exterior surface of the steels nor to any noteworthy extent even in the water holes of new drill steels. Undulations and serrations are found in the surface of the water hole in new steels; it is in the bottom of such defects that cracks appear to develop in used steels. The occurrence of the more serious of these cracks at the point in the steel to which it has been heated for forging or hardening is thought to account to a great extent for failures in that region. DURING the past, year, we have investigated the cause of 88 per cent, of the failures by breakage near the bit end of some 1-in. hollow, hexagon, drill steel used in a metal mine. This breakage in the region of the bit end of the steel was peculiarly interesting because we have been led to believe that breakage is most prevalent at the shank end of drill steels near the place where the steel is gripped in the chuck of the machine. Records from the mine showed, also, that the breakage was much more frequent in the short lengths of large gage than in the longer steels; this is shown graphically in Fig. 1. Because the shorter lengths of steels are usually those that have been made from broken pieces of long steels or from steels that have worn down in service, rarely being made from new stock, those who are wont to suspect steel of tiring and crystallizing in its old age through fatigue are quite apt to see in this instance an argument in favor of their idea. As usual, a careful examination of these steels reveals defects of a character hardly to be overlooked in favor of such a cause. The steel in question was rolled with a sand core and was of the usual drill steel composition: Carbon 0.85 per cent., manganese 0.60 per cent., silicon 0.25 per cent., phosphorus 0.02 per cent., and sulfur 0.02 per cent., with the exception that in some specimens there was vanadium, not exceeding 0.20 per cent.

Jan 3, 1924

By Augustus Locke

The paper has two parts: the field argument and the microscopic argument. The field argument indicates that either the deep chalcocite has replacea sulfide of extraordinarily easy replaceability or it is hypogene. The microscopic argumentindicates that this sulfide, if it existed, must have been hypogene bornite; that this bornite must so excel known bornite in replaceability as to constitute a new variety; that the existence of this new variety is wholly unsupported by evidence; and that the deep Butte chalcocite is therefore hypogene. IN 1900, when the public first heard of "secondary enrichment" the Butte chalcocite seemed clearly supergene. Mining, through successive regions of leached capping, bonanza sulfide, and sulfide less rich, had paused at lean bottom levels which, though chalcocite-bearing, suggested the waning of copper. The deepest chalcocite, at 1500 ft., was yet too shallow to disturb the supergene hypothesis. But, with deeper mining, lean levels yielded to fat ones. Here and there they showed, within the same vein, an inverted distribution, chalcopyrite above and chalcocite below. To the miners' astonishment, they carried chalcocite, unaffected by cross faults, on an independent course to the depth of 2500 ft. The pattern of ore distribution, hitherto revealed only in fragments, was now appearing in perspective, and, in the depth of the chalcocite, was beginning to make Butte differ from all districts where the chalcocite is indubitably supergene. The idea of hypogene origin at length came into favor; by 1913, when Sales1 advocated this origin, the argument had become a powerful one. This argument rested on field evidence; but, already, there was beginning to emerge microscopic evidence not included in this arugment. Especially pertinent was the proof that (1) The deep chalcocite lies in-mixed with bornite, often microscopic; (2) the deep chalcocite often replaces bornite; and (3) replacement of bornite by chalcocite is accom-

Jan 3, 1924

By Wilbur Nelson

Little drilling has been done in Kentucky and Tennessee in 1923, with the exception of the Kettle Creek area on the Kentucky-Tennessee line. Oil prices fluctuated between $2.86 and $1.36 Per bbl. for light oil. The Kentucky production was slightly over 8,000,000 bbl., being 1,000,000 bbl. less than during 1922. Tennessee production was approximately 8500 bbl., being a decrease of 1000 bbl, over. 1922. During 1923, the first producing well was brought in, in Clay County, Tenn. Production in Tennessee will undoubtedly increase considerably in 1924, and Kentucky production will probably increase slightly. THE year 1923 has been a dull period in oil development in Kentucky and Tennessee, with the exception of the Kettle Creek area along the Tennessee-Kentucky line, in Clinton and Cumberland Counties, Kentucky, and Clay County, Tennessee. The price of oil during the year has been so low that wildcatters have shown little interest in drilling. At the beginning of the year, light oil sold for $2.31 per barrel and medium oil for $2.06 per, barrel. Prices increased to the highest point for the year in February, when light oil brought $2.86 per barrel and medium oil, $2.61. In April, prices had declined 35 c. while in May an additional decline of 25 c. went into effect. During June, prices declined 20 c. per barrel; during July, 45 c. per barrel; remained stationary during August and September, and dropped during November and December to the low price of $1.36 per barrel for light and $1.21 for medium oil. At present, an increase of 29 c. has brought the price of light oil up to $1.55, and indications are that the price will continue to increase during the coming months. It can readily be seen that during 1923 the price of oil was such as to prevent any drilling except that necessary to hold leases and to maintain production enough to take care of overhead expenses.

Jan 3, 1924

By H. H. Alexander

PRIOR to 1915, numerous attempts were made to treat tin concentrates in the United States, but for various reasons they were unsuccessful. Tin ore is said to have been found in nearly every state, but none of the deposits have proved to be of commercial importance. The only domestic production is in Alaska, but only a few hundred tons annually have been produced; hence any considerable production of tin in the United States must be from foreign ores. The most promising occurrence of tin was found in the Black Hills, S. Dak.; in the early development stage, it was called the Cornwall of America. Associated with the tin is tungsten. The story is told that an exceedingly fine specimen of the Black Hills ore was sent to England to encourage stock promotion; the desired effect was produced until a skeptic chipped off a small piece, which the analysis showed to be wolframite. FIRST ATTEMPTS AT SMELTING One of the first promising attempts at tin smelting in the United States was made by R. T. White at Bayonne, N. J., in 1903. Mr. White, after spending some time in England studying the methods of tin smelting, organized a company called the International Tin Co., and erected a plant to treat tin concentrates from the Straits of Malacca. About the time the plant was completed, the English Government placed an export duty of 40, per cent. ad valorem on tin .concentrates exported to other than British smelters, which duty made it impossible to operate this plant so the enterprise was abandoned. As this export duty is still effective, the only source of tin-ore supply for 'the United States is the Bolivian concentrates.

Jan 3, 1924

By H. M. O?Harra

Experiments have shown that the use of enriched air would be of particular benefit in the roasting of zinc ores for the manufacture of sulfuric acid. Enriched air increases capacity of furnace, decreases fuel consumption, and increases SO2 content of roaster gas. THE work here described had for its purpose the procuring of data from which some quantitative estimate might be made of the results obtainable by using oxygen-enriched air in roasting zinc ores on a commercial scale. The principal metallurgical advantages of using enriched air in roasting zinc ores would be: 1. The rate of roasting would be increased, with consequent gain in the capacity of the roasting furnace. 2. As less air would be required for roasting, the volume of hot gases leaving the furnace and the heat carried out of the furnace as sensible heat in these gases would be less per ton of ore roasted; partly for this reason and partly because of the increased quantity of heat generated in the furnace by the larger amount of ore that could be roasted, the consumption of fuel by the furnace would be lessened; and by the use of air sufficiently enriched with oxygen the necessity of using fuel might be entirely obviated. 3. Roaster gas having a higher SO2 content could be produced; this would make possible greater capacity and more economical operation of the sulfuric-acid plant. Certain phases of the application of enriched air to roasting can be worked out only by experimenting with a furnace of commercial, or at least semicommercial, size. Thus the precautions necessary to secure proper distribution of heat in the furnace;1 the volume of enriched air,

Jan 3, 1924

By Basil Prescott

A thorough knowledge of the peculiarities of this type of orebody is necessary in sampling these limestone replacement deposits. Oxidized ores are often overestimated because of error in determining specific gravity and actual cross-section of the orebody, and sulfide ores are often underestimated because it is difficult to scatter the samples so that they will accurately represent the area under consideration. This paper describes various methods of sampling and cites factors that enter into the estimation of these deposits. IN THE science of evolution of the species, there is a law which, simply stated, avers that the history of the individual repeats the history of the race. Similarly, if unassisted by the experience of others, each successful engineer would perfect and develop his methods and technique from the rough grab sample up to the carefully taken, recorded and studied samples and observations which now determine and decide the expenditure of the large sums required for modern mining. Hence real progress results from the interchange of experience, as in that way the entire experience of the profession can be made available to every engineer. The literature of this subject is already voluminous, but some progress has been made in the gathering of data and in their compilation or presentation.

Jan 3, 1924

By Joseph Sinclair

THE Republic of Ecuador is situated partly in the northern and partly in the southern hemisphere. The equatorial line passes about 11 miles north of Quito, and. divides the country into two almost equal parts. Crossing the equator almost at right angles, and extending from Colombia into Peru, the Andes form a great upland that, in cross-section, resembles a truncated cone, the top of which is about 40 miles wide and about 10,000 ft. above the sea, while the base is about 80 miles wide extending from sea level, on the Pacific Coast, to the Amazon Plain, on the east. Superimposed on this upland are many active and extinct volcanoes, which form roughly two parallel chains of mountains, on the eastern and western boundaries, respectively, of the plateau. These are often referred to as the Eastern and Western Cordilleras of the Andes, although their parallelism is somewhat. questionable. The highest of these mountain, masses is Chimborazo, about 21,000 ft., above the sea; among the others is the volcanic peak, Cotopaxi, rising to about 18,000 ft. above the sea. The development of the petroleum resources of Ecuador is greatly affected by this Andean mass, not only .because of its composition and geological structure but because of the barrier it interposes between the lowlands on the Pacific side and whatever part of the Amazon Plain to the east is finally found to belong to Ecuador, for the eastern boundary of the Republic is still in dispute with Peru. To understand, therefore, the development of the petroleum reources of the Ecuador and the barriers to such development, we must bear in mind the three great physio-graphic divisions, viz., the Pacific Coastal region on the west, the Andean Plateau in the center, and the Amazon Plain on the east. The first important effect of the threefold physiographic division is that Ecuador has two sets of petroleum regulations: one for. that portion east of the Andes, and one for the Andean Plateau and the Pacific Coastal region although it is probable that the two sets of regulations are, in part, 'due to the boundary dispute with Peru.

Jan 3, 1924

By Ray Arms

This paper includes a brief classification of dry-cleaning devices, with a theoretical discussion of the principles involved. It outlines the methods of handling dust and screening difficulties at the McComas plant, as well as other plants that are being constructed and other dry-cleaning devices being developed. It describes the American Pneumatic Separator and discusses the sizing required, the effect of moisture in the raw coal, disposition of the middlings, and other aspects of the process. It gives s results of tests on various coals, and results of operation at Raton and McComas. DRY CLEANING, or pneumatic separation, is not, strictly speaking, a recent discovery. Among the archives of the Patent Office may be found many patents dating back as far as 1850 which cover early attempts to separate materials of varying specific gravity or of different shape by means of air. Hundreds of patents covering this art have been issued, which may be roughly classified into four general groups, as follows: 1. Stationary devices with pulsating air currents. The separating surface is usually riffled and air is supplied by bellows or compressors. This group' also includes air jigs, which have been used rather extensively. 2. Stationary devices with continuous air currents. These submitted the material to a continuous current of air, either horizontal or vertical. Chaff is blown from wheat by such a device. 3. Reciprocating or vibrating devices with pulsating air. A small group in which the pulsating air is supplied by bellows and some motion provided in the separating surface to move the stratified material to various discharge points. 4. Reciprocating or vibrating devices with continuous air supply. This is by far the most important group and all recent developments have been along this line. All of the above groups involve the stratification of material by air and include none of the dry methods that use other principles, such as coefficient of friction, magnetism, etc.

Jan 3, 1924

By Alfred Brooks

THE only oil produced in Alaska in 1923 was obtained from a dozen small wells, one of which was drilled during the year on the single patented tract of petroleum land in Alaska, in the Katalla field. These wells are owned by the Chilkat Oil Co., which finds a ready local market for its product in the form of gasoline produced in its own refinery. The search for oil has been continued, but except in the Cold Bay field there has been no drilling in new fields during the year. Drilling was in progress during 1923 at Pearl Dome, 18 miles from the coast. Here the Associated Oil Co. sank two wells, about 500 and 950 ft. deep, but suspended drilling in June. The Standard Oil Co., drilling on the same structure, reached a depth of 300 ft. by August and is reported to have reached about 700 ft. by November. The company began the, installation of a second drill in August. George C. Martin, who hastily examined the Chignik region, south of the Cold Bay field, reports that what is known of the geology near Chignik is not favorable to the presence of petroleum. Kirtley Mather, who made a geologic survey of the northern part of the Alaska Peninsula, reports that some of the structures and the formations are favorable to the presence of oil. A small seepage has long been known in the region near the mouth of Douglas River, which flows into Cook Inlet. Sidney Paige last summer made an examination .of the oil seepages which have long been known near Cape Simpson, 50 miles southeast of Point Barrow, the northernmost point of Alaska. He reports that there are two very large seepages emanating from small ridges about a mile apart and several miles from the coast. These are marked by flowing petroleum, and cover many acres. There is a very large accumulation of petroleum residue at these seepages. The surface exposures consist of clay shales with hard thin partings of calcareous shale which lie nearly horizontal, and are probably, of Jurassic age. Mr. Paige and his two sub-parties explored a large area inland from the Arctic coast between Cape Beaufort on the south and Point Barrow and Cape Simpson on the north. He himself ascended the Meade River for 150 miles. These surveys indicate a wide distribution of what is believed to be the formation from which the Cape Simpson seepages emerge, which is probably of Jurassic age. These rocks near the north Arctic coast are little disturbed, but are increasingly folded to the south, toward the mountains. No other seepages have been found, but what is known of the geology is not unfavorable to an oil field. This entire region lies in Naval Petroleum Reserve No. 4, and it was examined by the Geological Survey at the request and expense of the Department of the Navy.

Jan 3, 1924

By Geo. H. Ashley

THE year 1923 saw a decline in the production of crude oil and a strong advance in the production of natural gas. The production of petroleum in Pennsylvania has been remarkably uniform for many years, but with a slight average decline. Until 1918, production was maintained above 7,500,000 bbl. Four of the six years from 1918 to 1923, inclusive, saw a yield of between 7,400,000 and 7,500,000 bbl.; 1923 gave only 7,253,000 bbl. The production of natural gas in Pennsylvania has been variable, reaching a maximum of 138,000,000,000 cu. ft. in 1906 and nearly reaching that figure again in 1907 and 1917. In 1921 production dropped to 86,000,000,000 cu. ft., and it seemed that a rapid decline had set in. Prices were raised by most of the gas companies, and -these raises sustained by the Public Service Commission. Possibly as a result of this and the better prices realized, drilling in the gas fields has been active. The year 1923 has not been prolific in large oil wells. The largest single well was drilled by the Manufacturers Light & Heat Co. on the William Auld farm near Prosperity, Morris township, Washington County. This well started at 225 bbl, but quickly dropped to 60 bbl. A 100-bbl. well was struck in September in Springhill township, Greene County. Three wells in the Tidioute pool started at 50 bbl. or better, and a well near the 28th Ward, Pittsburgh, came in at 60 bbl. One well in Washington County started at 50 bbl., but all of the other wells started at less than 20 bbl. The Tidioute pool, which was the sensation of 1922, had by Jan. 1, 1923, dropped in daily total production to 1430 bbl., by Feb. 1 to 1040 bbl., and by May 1 to 700 bbl. At that time, most of the wells were still flowing naturally, though, as the gas pressure was rapidly decreasing, it was not anticipated that such a flow would long continue. As the wells in this pool started at from 500 to. 800 bbl.. a day, it is evident how rapidly they fell off. In August, 1922, the average production per well per day was 44 bbl. ; in February, 1923, 4 bbl.

Jan 3, 1924

By Norman Carmichael

This paper describes the evolution of transportation at an important mining property, beginning at a time when the railhead was 400 mi. distant, and tracing the steps leading to the development of what is probably the heaviest ore train ever operated in underground mine service over narrow-gage tracks, a 300-ton ore train on a 20-in. track, at working costs closely approximating those obtained on systems involving much greater capital expenditure. Useful where geological and financial considerations render inadvisable the excavation and maintenance of large tunnels and heavier rolling stock. THE problem of transportation in the Clifton-Morenci district of Arizona has been one of peculiar difficulty and consequently has been an important factor in the cost of mining and treating the ores produced. From the crude beginning made over 50 years ago, many changes have been necessary to keep pace with the increased output of copper. A heavy-duty haulage system has developed on the original 20-in. track gage to meet the existent metal-mine conditions.

Jan 3, 1924

By Malcolm Wilson

THE year 1923 was one of great importance in northern Louisiana and southern Arkansas, so far as the' development and expansion of previously discovered oil and gas fields were concerned. However, the search for new fields failed to produce a single discovery that led to important development during the period; in this respect, the year was one of discouragement to the prospector. During the winter and spring months, an especially active "wildcat" campaign was in. progress in southern Arkansas, and a large number of tests were drilled in northern. Louisiana but this activity subsided during the summer and fall. By the close of the year, only routine drilling was in effect in the fields; and only two new areas-Cotton Valley, in Webster Parish, and an area in Union Parish, La.-were showing any important activity because of favorable oil showings. Further drilling is contemplated in both of these areas, and the present feeling is that one or the other may produce the next oilfield in this territory. Briefly, the development of the Smackover field was the overshadowing event of the year. In. southern Arkansas, important development also took place in the East El Dorado, Stephens, and Irma fields; but all of these were relatively small. In northern Louisiana, many new oil wells were drilled in the Bellevue field, and many new gas wells in the Monroe field. In the old Caddo field, a large number of the deep Woodbine wells were plugged back to the "chalk rock," where a high gravity oil is obtained. In the other fields, only a few small wells were drilled. Therefore, Arkansas, furnished the real development of the year in this area. The production for the year showed a material increase over that of 1922, due, chiefly, to Smackover, and practically altogether to the Arkansas fields. In Louisiana, every field, except Caddo, Bellevue, and Elm Grove, showed slight to marked declines; while in Arkansas, El Dorado was the only field that declined throughout the year.

Jan 3, 1924

By Arthur Redfield

THE year 1923 was marked by slight progress in exploring and developing the petroleum resources assumed to exist in Central America. Actual drilling for oil took place only in Costa Rica and Panama. The Sinclair Consolidated Oil Corpn., through its subsidiary the Costa Rica Oil Corpn., drilled in southeastern Costa Rica.. Its, Panaman subsidiary is reported to have abandoned drilling in Bocas del Toro. The Texas Co. drilled in Chiriqui, and the Panama Gulf Co. in Garachiné, Province of Darién. No oil was obtained in any of these wells;' shows of gas were met in Costa Rica. Concession hunting continued during the year. A number of concessions, several of which appear to be purely speculative, were submitted for ratification. Some confusion has been caused by overlapping concessions and claims to oil lands, caused partly by the imperfection of existing maps. A conflict between the Sinclair, and Gulf companies in Panama has been compromised. The Amory concession in central Costa Rica, held by the British Controlled Oilfields, Ltd., was voided by decision of the arbitrator, Chief -Justice Taft. Geologic exploration took-place in Guatemala and in Panama. The chief contribution of the year to Central American geology was a description by Katherine Van Winkle Palmer of Lower Miocene foraminifera and mollusks from southeastern Costa Rica. A new petroleum law was promulgated in Panama.

Jan 3, 1924

By Arthur Knapp

THE law of supply and demand is, in general terms, that law which governs the price of any commodity in an unrestricted competitive market. There are several variables which, for the purpose of this discussion, will be defined only as they apply to the petroleum industry: Production: The volume of petroleum that is moved from leases. Stocks: The volume of petroleum that is in the hands of the tank farm and pipeline companies. Inventory: The value of the stocks at the market. Consumption: The indicated delivery of oil to others than those who hold stocks. Demand: The potential absorbing power of the consuming market. Demand is the expression of the needs of the consumer and may depend on the economic value of the oil to the consumer. In times of low prices, the demand is the same as the consumption but during periods of high, prices or deficiency in supply, the demand may be greater than consumption. A general expression of the law is, as follows: Production or consumption Some relation between stocks and or controls price or demand inventory

Jan 3, 1924

By P. H. Royster

IN a study of the blast-furnace process, the Bureau of Mines has made many experiments for the purpose of determining the exact nature of the combustion of coke in the neighborhood of the tuyeres. Two papers1 presented at a meeting of this Institute discussed somewhat the practical aspects of coke combustibility in its relation to the operation of the blast furnace. In a later paper,2 Sherman and Kinney discussed the possible effect of variations in the combustibility of cokes on the furnace operation, and find that the "reoxidation theory" of Koppers and the "heat concentration theory" of Brassert3 are insufficient to explain the variation in the conduct of different cokes that has been observed by furnace operators. In their report to the D-5 Committee of the American Society for Testing Materials, with which the Bureau of Mines has been cooperating, Perrott and Fieldner4 seem to agree with Sherman and Kinney that, for practical purposes, the nature of the combustion of coke at the tuyeres of any furnace is constant and is affected neither by the physical properties of the coke nor by the nature of the furnace operation. They omit as unimportant any tests on the combustibility of coke from their proposed methods for standard tests on coke. In the last two papers, it is pointed out that performance tests, in which all other factors except coke quality are kept constant, are to be desired and

Jan 3, 1924