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By T. E. Evans, C. T. Baroch

ZrB2 was produced in batches of 4 to 6 Ib by interaction of ZrO2, B4C, B203, and carbon at around 2000°C in a simple graphite resistance furnace. Techniques of production are discussed and the final design of a suitable furnace is described in detail. Several other borides were made by the same technique and the process appears to have possibilities for commercial production. N seeking out new hard and refractory com- pounds, many researchers have turned to the investigation of the borides and excellent papers have been published on the properties of these compounds. Few papers, however, have appeared on the techniques and problems concerned with the production of these high temperature substances. This report describes progress made in developing a method for preparing zirconium diboride, ZrB2, on a pilot plant scale. The literature of the borides and other refractory hard metals recently has been reviewed, annotated, and classified so completely' that it is needless to attempt such an outline here. It is enough to say that three borides of zirconium have been reported: ZrB, ZrB2, and ZrB12.2 ZrB2 is the most stable of these and is especially stable in the presence of carbon up to and including its melting point of around 3000°C. Like most borides, it can be prepared in several ways. It can be prepared by synthesis of the elements, but these are expensive and difficult to produce in a high state of purity. Obviously, production directly from the oxides would have decided economic advantages. In electrolytic production such as that of calcium boride,:' the product is recovered as a sludge mixed with electrolyte; and separation of product from adhering electrolyte and regeneration of the electrolyte is an involved and difficult process. The work on borides was started on a small scale in 1948. Late in 1949, Naval Ordnance expressed a specific interest in ZrB2 and the project then centered on this compound. After the usual experimental work necessary in a new field, ZrB2 of good quality was produced by heating mixtures of B4C, ZrO2, B2O3, and carbon to a temperature of about 2000 °C in a resistance-type electric furnace. Over 100 lb was made for experimental use tests, and the method of production probably could be expanded into a commercial operation. A similar process has been described by Kieffer and coworkers.' The main chemical problems were the development of proper charges to insure complete reduction of the elements, determination of the proper temperature range at which these reductions took place, and adoption of techniques necessary to pre- vent inclusion of such impurities as carbon and nitrides. The mechanical problems consisted of developing a simple practical furnace that would attain the high temperatures required and permit use of a controlled atmosphere when necessary and determining of suitable refractories. Both problems were solved by designing a crucible resistance furnace. Crucible Resistance Electric Furnace Attempts were first made to produce ZrB2 in an electric arc furnace, but such a furnace would not provide the degree of carbon control required for producing clean graphite-free borides, so it was decided to try working in a crucible. Obviously, the furnace would have to be constructed of graphite, as the temperatures required are too high for other refractories or heating elements. Crucibles were made by hollowing out segments of graphite electrodes, which were fitted with a cover and clamped between two electrodes so that the current passing through the thin wall of the crucible would generate heat, using the principle of the Helberger crucible furnace."? Preliminary tests with this type of furnace were encouraging and led to the furnace design shown in Fig. 1. The essential components were a thin-walled graphite crucible resting on a graphite block, which formed the lower electrode assembly, and a top electrode assembly swung from a pipe column making contact with the top of the crucible. The space around the crucible was filled with graphite prepared from waste electrodes crushed to about ¼ in. This packing had excellent insulating properties, both electrically and thermally, and could be removed easily and quickly from around the crucible by means of an industrial vacuum cleaner. The largest resistor crucibles were machined from 8 in. electrode stock and were 26 in. long, with a side wall Yi in. thick and a 1 in. bottom. Temperatures were determined optically by sighting down a 1 in. hole drilled longitudinally through the top electrode and the crucible cover. Sealing this hole at the top was a water-cooled brass sight-glass assembly, shown in Fig. 2. An opening was provided for a light flow of helium to keep the sight opening clear of smoke, and a glass prism above the sight glass changed the line of sight to the horizontal for easier reading. More recently, the prism and optical pyrometer were replaced by a photoelectric recording pyrometer. At first the charges were placed directly in the resistor crucible but this meant that everything had to be withdrawn from the furnace every time the charge was emptied. Later, smaller crucibles were made up that could be placed inside the resistor

Jan 1, 1956

By Howard N. Eavenson

DURING the past year, as in the preceding ones, prices continued to fall, production to decrease, and more mines were closed. Much attention is being given by the industry to suggested plans for betterment of its position, and if the scheme recently brought out for consolidation of sales agencies into district agencies is loyally carried out, it cannot but help to improve conditions. The progress in the anthracite industry is shown in the report of its chairman, E. H. Suender; changes in coal preparation are outlined in the report of J. B. Morrow, chairman of Committee on Coal Preparation, while increased mechanization of the western mines is described by Eugene McAuliffe, chairman of the Committee on Machine and Strip Mining. In spite of the depression, interest in the Coal Division has been increasing, its meetings have been well attended, and its committees are active and have been doing excellent work.

Jan 1, 1932

By Alvin Kaufman

ANTHRACITE mining in the United States is concentrated in a 480 sq mile section of north- eastern Pennsylvania. The producing area is broken up into four fields, known as the Northern, Southern, Eastern Middle and Western Middle fields. These areas represent intricately folded coal measures in synclinal residuals left by erosional forces. Destruction by erosion has eliminated some 95 pct of the original coal. However, discounting the 5 billion tons removed to date, 8 billion tons are believed to be still recoverable.

Jan 3, 1953

By C. Kremer Bain

UNDER present economic conditions the necessity of mechanizing the mines of our country has become a very important problem. More and more mines are looking toward increased or complete mechanization of their operations, so in the writer's opinion it is quite pertinent that some of the associated problems that accompany such a program be pointed out. The following generalization on attempting a comparatively slight change in mining methods at the Southeast Missouri properties of the St. Joseph Lead Co. is an attempt to point out to anyone faced with a mechanization program that much time and C. KREMER BAIN, Member AIME, is Assistant to General Manager, St. Joseph Lead Co., Bonne Terre, Mo. AIME Sun Francisco Meeting, February 1949. TP 2743 A. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Dec. 27, 1948; revision received Oct. 13, 1949. effort can be saved, and many headaches avoided, if company policy can be established whereby everyone in the organization from the top down is desirous of improvement and is working towards the common objective. Any changes in mining methods, machinery, and so on, must entah coordination of all the other phases of mining as they all have to mesh as accurately as a smooth running chain of gears if satisfactory results are to be obtained. The purpose of this paper is to point out some of the problems which :have to be surmounted when any mechanization program is attempted, rather than to go into the mechanical details and actual operating data of the equipment employed. After all, machines have to be adapted to best suit the local conditions, so no general formula can be given that would apply to other properties. Although St. Josepll Lead Co. has been mechani-cally-minded for a number of years, as shown by the fact that over 110 million tons have been loaded mechanically since 1922, any further mechanization or changes always present a problem. When our ore bodies were of great height and area the breaking and loading were developed to a high degree of efficiency according to known standards. But in recent years, when our ore bodies became smaller and more scattered, the amount of tonnage we were able to break was not sufficient to supply our shovels with enough rock to keep them working to capacity. Our first step in attempting to rectify this situation was to develop a technique of moving the shovels to the broken ore in various stopes, which sometimes entailed a move each shift. A shovel is not producing when being moved, so within the last two years we have been endeavoring to devise some means of getting more rock broken in these smaller stopes and it was then that we became interested in jumbo drilling. To illustrate the fact that mechanization is a process of a chain of developments rather than a stroke of genius can best be shown by a general summary of conditions and obstacles which were encountered in our present attempt to establish template drilling of a standardized round. Our first jumbo was more or less the conventional type with two machines mounted on a crossbar. This arrangement proved to be impractical to duplicate satisfactorily the regular routine of slabbing in a more or less radial pattern as carried out by column drilling. One machine was either too close to or too far from the face and there was another disadvantage in that one drillman was frequently delayed while waiting for his partner to bottom a hole. Our next step was to eliminate the crossbar so the machines could operate independently of each other, but we still encountered the same objections mentioned above except that one drillman was free to drill three holes instead of one in a vertical plane independently of his partner. Time studies while trying to adapt the jumbo to the regular slabbing practice as accomplished by column drilling, revealed that twice as much time was spent in maneuvering the jumbo into position and aligning the holes as was consumed in drilling.

Jan 1, 1951

By C. Kremer Bain

UNDER present economic conditions the necessity of mechanizing the mines of our country has become a very important problem. More and more mines are looking toward increased or complete mechanization of their operations, so in the writer's opinion it is quite pertinent that some of the associated problems that accompany such a program be pointed out. The following generalization on attempting a comparatively slight change in mining methods at the Southeast Missouri properties of the St. Joseph Lead Co. is an attempt to point out to anyone faced with a mechanization program that much time and C. KREMER BAIN, Member AIME, is Assistant to General Manager, St. Joseph Lead Co., Bonne Terre, Mo. AIME Sun Francisco Meeting, February 1949. TP 2743 A. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Dec. 27, 1948; revision received Oct. 13, 1949. effort can be saved, and many headaches avoided, if company policy can be established whereby everyone in the organization from the top down is desirous of improvement and is working towards the common objective. Any changes in mining methods, machinery, and so on, must entah coordination of all the other phases of mining as they all have to mesh as accurately as a smooth running chain of gears if satisfactory results are to be obtained. The purpose of this paper is to point out some of the problems which :have to be surmounted when any mechanization program is attempted, rather than to go into the mechanical details and actual operating data of the equipment employed. After all, machines have to be adapted to best suit the local conditions, so no general formula can be given that would apply to other properties. Although St. Josepll Lead Co. has been mechani-cally-minded for a number of years, as shown by the fact that over 110 million tons have been loaded mechanically since 1922, any further mechanization or changes always present a problem. When our ore bodies were of great height and area the breaking and loading were developed to a high degree of efficiency according to known standards. But in recent years, when our ore bodies became smaller and more scattered, the amount of tonnage we were able to break was not sufficient to supply our shovels with enough rock to keep them working to capacity. Our first step in attempting to rectify this situation was to develop a technique of moving the shovels to the broken ore in various stopes, which sometimes entailed a move each shift. A shovel is not producing when being moved, so within the last two years we have been endeavoring to devise some means of getting more rock broken in these smaller stopes and it was then that we became interested in jumbo drilling. To illustrate the fact that mechanization is a process of a chain of developments rather than a stroke of genius can best be shown by a general summary of conditions and obstacles which were encountered in our present attempt to establish template drilling of a standardized round. Our first jumbo was more or less the conventional type with two machines mounted on a crossbar. This arrangement proved to be impractical to duplicate satisfactorily the regular routine of slabbing in a more or less radial pattern as carried out by column drilling. One machine was either too close to or too far from the face and there was another disadvantage in that one drillman was frequently delayed while waiting for his partner to bottom a hole. Our next step was to eliminate the crossbar so the machines could operate independently of each other, but we still encountered the same objections mentioned above except that one drillman was free to drill three holes instead of one in a vertical plane independently of his partner. Time studies while trying to adapt the jumbo to the regular slabbing practice as accomplished by column drilling, revealed that twice as much time was spent in maneuvering the jumbo into position and aligning the holes as was consumed in drilling.

Jan 1, 1951

By MARSHALL D. DRAPER

CHINA is one of the large producers of the world's tin. About 95 per cent of the total Chinese production comes from the Kotchiu district in the southern part of the province of Yunnan. Yunnan occupies the southwestern part of China, bordering on Burma,. Siam and. French Indo-China. From the British port of Hong Kong,' small steamers sail southwest at about four-day intervals, reaching Haiphong in French Indo-China in two or three days. This, one of the principal ports in Indo-China, is a modern French city of some 50,000 population which, with its tropical surroundings, has much natural beauty. It is a few miles from the sea on the Red River, which has its source in China. Both at Haiphong and Hanoi, the capital of Indo-China, sixty-three miles north of Haiphong and also on' the Red River, there are foundries, shipyards, machine shops, cement and brick plants and various similar industries.

Jan 1, 1931

By C. G., Fink

The dissolution of gold by cyanide solutions was studied by determining the time required for the solvents to dissolve gold leaf. Minute traces, even 0.5 ppm, of sulphide ion retard the dissolution of gold, and this behavior cannot be accounted for by the presently accepted hypotheses involving oxygen-depletion or thiocyanate formation. On the other hand, traces of the salts of lead, bismuth, mercury, and thallium considerably accelerate the dissolution. The beneficial effect of lead is dependent upon the pH and cyanide ion concentration of the solution.

Jan 1, 1950

By I. Ionel Gardescu

During the latter part of 1930 an agreement was reached among operators in Rumania to curtail the production of oil to about 100,000 bbl. per day. This agreement lasted only a few months and 1931 shows a new peak in production with an average yield of 136,900 bbl. per day as against an average of 116,600 bbl. per day for 1930. The total production for 1931 was 49,210,000 bbl.; an increase of 18.4 per cent over the previous year's production. It is interesting to compare the percentage production of the major companies to the potential production figures determined by the Government in September, 1930 (Table l), on the basis of which the proposed curtailment was to have been made. The three companies listed first in this table show an increase in average production for 1931 over their estimated potential production rating. This increase might be attributed at least in part to the recent development of the Boldesti field, which is controlled by these companies and of which the production at present is nearly 10 per cent of the total oil output for Rumania. Among the other fields, Moreni still holds first place with an output of 33.6 per cent, followed by Gura-Ocnitzei with 29.3 per cent. In both these fields the main source of oil is from the deeper Meotic sands. Other

Jan 1, 1932

By James K. Richardson

Today, the enigma of the "missing man" in the metal mining industry equals, and frequently surpasses in objective importance, the problems of ore development, drilling, sampling, pumping, milling techniques, geophysical prospecting, or any one of a hundred highly technical subjects. Unfortunately, as engineers, we have confined our attentions, in the main, to the scientific phases of mineral technology, relegating our man power problems to the background. But what good has all our scientific study and preparation been if we can't get the ore mined, milled, or smelted? What has happened to our labor supply? Where is the good old miner who could timber, drill a round, lay track, or do any job underground?

Jan 1, 1949

By R. J. Block, G. H. Kehl

IN order to investigate the possibility of a spontaneous low-temperature transformation, resistivity measurements were made on a sample of eutectoid beryllium- copper. A cast specimen of 5.965 pct Be, 94.035 pct Cu was homogenized at 650°C for 22 hr, furnace cooled to 550°C, and held for 2 hr to allow the 0 - a ß-a+? reaction to proceed. In an attempt to refine the ß grain size, the specimen was then reheated to 620°C, held

Jan 1, 1960

In preparation for the 119th meeting, New York, Feb. 17 to 20, 1919, the following committees have been appointed: Committee on Arrangements ALLEN H. ROGERS Chairman. NY. S. DICKSON, Secretary. J. E. JOHNSON, JR. F. T. RUBIDGE. P. G. SPILSBURY. H. C. PARMELEE. FOREST RUTHERFORD. Committee on Annual Dinner Committee on Luncheon F. T. RUBIDGE. FOREST RUTHERFORD, Chairman. E. B. STURGIS. E. MALTBY SHIPP Committee on Patriotic Meeting H. C. PARMELEE, Chairman.

Jan 11, 1918

By E. H. Kelton, R. D. Grissinger

In designing structural members of steel and some other materials the design engineer has available recognized values of elastic modulus and safe working stress that may be substituted in well-known engineering formulas to give him desired cross-sectional areas and deflections for a particular part. Zinc, on the other hand, has no generally recognized modulus. It flows under continuously applied loads. Therefore, the designer of structural members must use a range of working stresses depending on the continuous load and the amount of permissible distortion. The only method of obtaining these values is by creep testing. Creep testing of zinc has been carried on for some 20 years by this laboratory, covering a wide range of zinc and zinc alloys. Types of test included tension, compression, and simple and cantilever beams at temperatures ranging from o to I50°C. Specimen conditions ranged from as-cast or as-rolled to accelerated aged in steam or dry air. Effects of plating were investigated also. It is not the intention of this paper to expound all these factors but rather to present the final data on well-known zinc die-casting alloys and to suggest means of applying these data to engineering design. Early Work In the early work on creep testing of zinc, the direct-loading tension method was used. However, direct loading of die castings was unsatisfactory because of the high loads required. For instance, a standard die-cast tension bar having a cross-sectional area of about 0.049 sq. in. would require a direct load of about 1000 lb. for a unit stress of 20,000 lb. per sq. in. Also, tests were made at nominal room temperature, but normal variations caused fluctuations greater than those due to experimental error or other causes, so that control of this variable within ±1/2°C. seemed essential. These two factors led to the development of an apparatus described by J. Ruzicka,' in which the specimens were loaded by means of a lever and were held at constant temperature by means of an oil bath. While Ruzicka's apparatus yielded excellent check results, it seemed desirable to have some setup by which literally hundreds of die-cast specimens could be tested at the same time. This would permit the conducting of a number of low-load tests designed to run 10 years or longer and still leave capacity for current high-load work. Beam testing in a constant-temperature room was the answer. Test Method Preliminary work indicated that die-cast beams of various lengths and cross scctions yielded the same result within reasonable limits regardless of whether they were tested as simple beams, uniformly loaded beams, or cantilevers. Accordingly, the simplest type was adopted. This was a,

Jan 1, 1945

By Alfred H. Brooks

LESS than a decade ago the consumption of coal in Alaska was practically limited to the salmon canneries and the few lode-mines and settlements along the Pacific coast of the Ter¬ritory. The sparse population of the interior depended on the forests, that of the shores of Bering Sea and the Arctic Ocean on driftwood for fuel. All this has changed. The thousands who have sought and mined gold on the Seward peninsula since 1898 have much impoverished the long-accumulated supply of driftwood, and at the same time the constantly increasing demand for fuel, on the part of the placer-camps and steamers, has resulted in heavy inroads being made on the accessible timber of the Yukon and its tributaries. While on the one hand the immediately available store of wood has decreased, on the other the consumption of fuel because of the rapid expansion of the mining and fishery industries and the attendant growth of population has much increased. Alaska, therefore, offers a constantly growing market for coal and other fuels. As the local coal-production has been insignificant, the demand has been met by importations from Washington, British Columbia, and even from Pennsylvania and Australia. Fuel-Consumption Mr. D. H. Jarvis, Collector for Alaska, has kept systematic records of the trade of the Territory since 1903. The statistics of the coal-importations of the past two years are shown in Table I. If data were available for a longer period of years, the increase of coal-importations would be much more striking.

Jul 1, 1905

By M. S. Hunter, D. L. Robinson

An extremely fine subgrain structure found in aluminum and aluminum alloys is shown and a method for revealing this structure is described. The appearance and some of the characteristics of this structure are described and the possible significance of subgrain structure in terms of chemical, electrochemical, and metallurgical processes is considered. GRAINS and grain boundaries, which constitute the principal manifestations of the crystalline aggregates known as metals, play such an important part in determining the characteristics and properties of metals and alloys that their nature and behavior have long been of much concern to the met-allographer. Many investigators have speculated on the possible existence of a finer structure within the usual grain structure and, through X-ray diffraction and metallographic techniques, have revealed evidence that such finer structures exist. Among these structures are the mosaic blocks and domains described by Burgers1 and others in their contributions on crystalline structure and the dislocation theory, the small units associated with polygoniza-tion described by Cahn,2 and the intragranular blocks revealed more recently by Lacombe and Beaujard.3 his paper describes some novel methods for clearly revealing a very fine granular substructure within the usual grains of pure aluminum and aluminum alloys. It also compares the characteristics and behavior of this subgrain structure with those of the ordinary grain structure and gives some examples of the manner in which this substructure may influence the characteristics of aluminum alloys. Metallographic investigations of aluminum and its alloys have dealt extensively with the functions and behavior of grains and grain boundaries and have evolved a definite concept of the relation between grain structure, orientation and physical, mechanical, chemical, and electrochemical behavior. During the examination of etched samples, a roughening or mottling of the body of certain grains has occasionally been observed. Such roughening obviously represented differential attack by the etching solution, but its true significance was not at first realized. It is now known that this roughening probably rep- resented a subgrain structure, although the particular etching treatments used were not capable of revealing this subgrain structure clearly. Also, in practically all cases, the subgrains were apparently far too small to be resolved by the light microscope. Recently, a method has been developed for revealing clearly the subgrain structure of most aluminum alloys. This method is somewhat unique in that it eliminates much of the usual tedious mechanical polishing and the attendant danger of a surface layer of flowed metal and at the same time is simple, rapid, and effective. It involves the use of the Alcoa R5 Bright Dip, a patented chemical polishing treatment licensed by Aluminum Co. of America. This treatment produces a bright, highly polished surface at least the equal of any mechanical polish and also etches the subgrain boundaries as well as the ordinary grain boundaries to reveal both the grain and subgrain structure simultaneously. Metallographic specimens to be examined are taken through the customary grinding and polishing operations used for aluminum alloys.' The usual care required in the final polishing operation to prevent a flowed surface layer and to obtain a high polish is not necessary, however, because any flowed layer is eliminated and a high polish is produced by the final immersion in the Alcoa R5 Bright Dip. Depending on alloy type, this dip takes from a few seconds to about 3 min, after which the sample is rinsed well, blown dry, and is ready for examination. The substructure can be revealed by some of the usual metallographic methods such as electropolish-ing or mechanical polishing and etching but no method has been found which is the equal of the new chemical polishing treatment. Mechanical polishing followed by the usual metallographic etching is not entirely satisfactory for revealing this substructure, probably because of the flowed surface layer resulting from the mechanical polish. If the usual etching methods are prolonged sufficiently to remove this layer, the specimen surface becomes quite rough and the substructure is not defined clearly.

Jan 1, 1954

By Scott Turner

MY YEAR OF SERVICE as president of the A.I.M.E. came at a time when the mineral industry had suffered severely because of disturbed economic conditions throughout the world. The Institute, an integral part of this industry, had been similarly affected. Its membership and revenues decreased; it was confronted by problems of retrenchment at a time when its vigorous operation was especially important to its members, of some moment to the mining industry, and of value to the nation. Throughout the last year, the recession of activity in our industry continued with slight abatement. Your Board accordingly exercised such economy within the Institute as was possible without impairment of essential functions. It endeavored to aid in sustaining the morale of members, their sense of professional unity, and their interest in maintaining research and the interchange of scientific and technologic data upon which the progress of our industry depends. Effort was made to assist in the difficult task of finding employment for needy members; our endeavors have met with some success.

Jan 1, 1933

By Davis M. Lapham

Ore bodies at Cornwall, Pennsylvania, have been mined since 1742 principally for iron from magnetite, but also for copper (in chalcopyrite), silver (in chalcopyrite), gold (in chalcopyrite), cobalt (in pyrite), sulfur, and crushed limestone aggregate. Metallization occurs as a limestone replacement above the essentially conformable, south dipping portion of a discordant saucershaped diabase sheet. Pre-Triassic and Triassic faulting have emplaced host Cambrian limestone and two Ordovician(?) hornfels units, now for the most part resting above diabase. Thermal metamorphism of carbonate-bearing country rocks largely to calc-silicates, is ubiquitous. Metasomatism, particularly of potassium, is unique to ore zones. Associated magnetite- actinolite mineralization replaces, in a preferential sequence, all earlier metamorphic and metasomatic minerals and rarely diabase chilled margin. Mineralogical (diopside, actinolite, mica, sulfides, oxides) and chemical (Fe, Cu, S, Co) zoning of the eastern ore body is focused down dip, near its western edge, along a major vertical fault through diabase. This zoning is spatially related to magnetite veins in diabase, to an ore body within diabase, and to a shear zone that probably extends through the sheet.

Jan 1, 1968

By N. LILIENBERGS

DURING the past few years, the requirements for steel have been raised so high that soundness is more important than ever before. The old practice was to mike steel ingots of sufficiently large sections to permit a considerable reduction of area in rolling and hammering to a given size, relying on the fact that by such rolling and hammering all cavities will be squeezed together and practically eliminated. The finished sizes, if found by inspection of the surface to be faultless, were therefore pronounced to be sound. But when such steel is ?worked up,? the manufacturer is surprised and disappointed to find that it splits, or that streaks and seams make the product unmarketable. Large sections, such as rails, beams or heavy forgings, may, within certain limits, be sufficiently strong, even if the sides of the cavities are only squeezed, and not welded together. But it is well known that, in the interior of heavy articles, under certain conditions, forging may develop small streaks into large cavities. Small sections, steel for ordnance and tubes, and numberless articles in the tool-trade, always show up the defects. It may be doubted whether cavities in steel ingots can ever be completely welded. The old theory, is, that the silver-clear blow-holes, without the blue oxide, can be welded by sufficient working. They are, however, not empty, but are filled with carbonic oxide. It is admitted that the "blue" cavities, resulting from air mechanically drawn down into the mold during the casting, can never be welded, because the oxide does not melt, and there would be no escape for it if it did. The only way in which steel can be made satisfactory for the above-named particular purposes is by having it ?dead molten." But then the trouble of piping is encountered. As is well known, a pipe is the result of the contraction of

May 1, 1906

By Carl Beal

THE most important factors that should be given consideration in valuation of oil land are: (1) the amount of oil the property will produce; (2) the amount of money this oil will bring (based upon the future prices of oil) ; (3) development and production costs; (4) the rate of interest on the investment; (5) the retirement or amortization of invested capital; and (6) the salvage or "scrap" value of the equipment when the property is exhausted. These factors are of varying importance, and some of them may not enter all valuation problems, but most of them should be given consideration in any valuation even though only a rough estimate of the value of the property is desired. The value of a property may be changed over-night by the completion of important test wells, by the sudden water flooding, or by a change in the price of oil. The best a petroleum engineer can give is the value of the property under the conditions existing at the time the appraisal is made with a fair forecast of future action of the wells and of the price of oil. Our experience in the scientific valuation of oil lands is not broad and there is very little published information on the subject; it, therefore, becomes necessary in studying such problems to form comparisons with the factors involved in the valuation of mines-the closest parallel. One of the reasons for the lack of substantial progress in oil-land valuation methods has been the necessity of making an estimate of the future production of the oil property to be valued. Oil men and accountants have not generally conceded that such estimates could be made with any degree of accuracy. It has been shown, however, in several recent publications that with certain data available reasonably close estimates can be made. The accuracy of an appraisal depends chiefly on the accuracy of the estimates of future production and of the future price of oil. The accuracy of the former is sometimes necessarily based on geological inferences. Geology is not an exact science and geological data in connection with oil production cannot always be mathematically evaluated.

Jan 9, 1919

In preparation for the 118th meeting, New York, Feb. 17 to 20, 1919, the following committees have been appointed: Committee on Arrangements ALLEN H. ROGERS, Chairman. W. S. Dickson, Secretary. J. E. JOHNSON, JR. F. T. RUBIDGE. H. C. PARMELEE. FOREST RUTHERFORD. P. G. SPILSBURY. Committee on Annual Dinner Committee on Luncheon F. T. RUBIDGE FOREST RUTHERFORD, Chairman. E. B. STURGIS. E. MALTBY SHIPP. Committee on Patriotic Meeting H. C. PARMELEE, Chairman

Jan 8, 1918

In preparation for the 118th meeting, New York, Feb. 17 to 20, 1919, the following committees have been appointed: Committee on Arrangements ALLEN H. ROGERS, Chairman. W. S. Dickson, Secretary. J. E. JOHNSON, JR. F. T. RUBIDGE. P. G. SPILSBURY. H. C. PARMELEE. FOREST RUTHERFORD. Committee on Annual Dinner Committee on Luncheon F. T. RUBIDGE. FOREST RUTHERFORD, Chairman. E. B. STURGIS. E. MALTBY SHIPP. Committee on Patriotic Meeting H. C. PARMELEE, Chairman

Jan 10, 1918