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Capital, as represented by mineral resources, is being exhausted rapidly without possibility of identical replacement. The public must be discouraged from thinking-why worry about the bank balance so long as there are plenty of blank checks? Instead of each man, woman, and child being owners of a mineral capital of $89,000 as former Secretary Ickes once stated, they are really the guardians of a mineral reserve which, when harvested, cannot be reproduced. The proper use of this material is the basis of modern civilization and military power. The best American institutions cannot be maintained or transmitted to our children unless this trust is guarded. It is unfortunate that more attention has not been focused on the fact that this country is headed for a have-not status in the family of great nations if some- thing is not done to preserve its mineral heritage. It is the privilege of the United States now to champion and implement democracy because it is industrialized and can get at its raw materials. A high price is being paid every day in mineral depletion for the privilege. No one can eat his cake and have it too. The United States still must face world-wide economic competition and, perhaps, World War III. In the final analysis all wealth comes from the ground, whether plant, animal, or mineral. Value is in-

Jan 1, 1950

By T. A. Rickard

A severely technical article, however well written, can not be an agreeable form of literature. It suffers from the defects of its qualities. One defect is a congestion of language, due to a multiplicity of adjectival nouns. The sentences are packed with words of unpleasing sound, charged with complex ideas, crowding one another so closely that the phraseology moves like an ice-pack in Bering Sea or a log-drive in a river; the undercurrent of meaning may continue to move, but the surface is obstructed. This verbal congestion is made evident by ugly compoundings, many of which are adopted by the technical writer in the mistaken belief that they give directness to his statements. For example: A unanimously approved scheme "A scheme unanimously approved" The continuous temperature record "The continuous record of temperature" To stimulate interest in synthetic plant construction "To stimulate interest in the construction of synthetic plants " In smelters reverberatory-furnace firing with powdered coal has been practised for a decade. "In smelting, the firing of reverberatory furnaces with powdered coal has been practised for a decade. " A tar consumption of one pound per ton "A consumption of tar at the rate of one pound per ton'

Jan 1, 1931

By Albert H. Chester

DURING the summer of 1875 I visited some of the iron mines of Houghton County, Mich., and was quite interested to observe the progress made there within a. few years. Working in open pits is gradually giving place to underground work in most of the mines where this system is practicable. In some cases, as in the Lake Superior Mine, the body of ore is so irregular, and the deposit so liable at any time to be pinched out, or nearly so, that it has been found impractical, if not impossible, to lay out any plan for systematic underground work. But in many other mines the deposit is so regular in character, that the work can be laid out in shafts at regu¬lar intervals, and a series of 60 feet levels. The Michigammi Mine, opened in 1872, and first worked in 1873, is arranged on this plan, though some quarrying is still done. But the men are being put at overhead stoping as fast as it can be got ready for them, and before long it will all be worked in this way. The New York Mine is undergoing a similar change to the pillar system, and several others have either been changed, or it is about to be done. My principal object in visiting this region was to obtain samples from some of the important mines, so as to be able to answer the question : "What is the average percentage of iron in the Lake Superior ores?" Most iron furnaces work on mixtures of ore, so that it is impossible to tell, from their records, just the percentage in each one.

Jan 1, 1876

Taking the Long View THE present international situation has serious implications for this nation. The possibility of total war is no more appalling than the threat of making the United States permanently into an armed camp. A period of ten years under such conditions could mean a Communist victory without firing a shot-if the present trend toward statism is allowed to continue. As individual citizens and as members of the mining profession we have the power to oppose the march toward socialism. We must not adopt shortsighted policies dictated by self-interest, but must endeavor to size up the situation as a whole and act according to what will be best in the national interest. The economic picture for the metal mining industry under present emergency conditions is apparently bright. Demand for metals exceeds supply. But there is danger that fluctuating prices will bring Government regulation. Care must be exercised in our pricing policies, or the calamity of Government intervention will be inevitable. President Truman's "loophole" reference to percentage depletion early in the year caused a brief flurry of excitement, but now that the immediate threat is over the industry has lapsed into sommolence on this subject. Special tax privileges accorded the mining industry because of inherent risks should be guarded by a continuing propaganda campaign to educate Congress and the public. If this is not done we may find ourselves losing the necessary tax protection which we now possess by a capricious act of legislation. Stockpiling minerals from abroad certainly lengthens the life of our own mineral resources. The present consumer demand for the base metals indicates foreign sources of supply for stockpiling. However, this is only one facet of the problem. For strategic military reasons it is necessary that the United States have quick sources of all minerals within our national boundaries. Undeveloped mineral deposits do not meet this need so that where it is possible to encourage our own mineral development by stockpile purchases, it should be done. A need exists for an overall controlling agency that would make purchases for the stockpile according to military necessity, current metal market conditions, and so as to strengthen the mining industry. In the course of the history of the United States we have been engulfed in several wars by the necessity of protecting our economic rights abroad trading privileges-and also because of moral obligations. Disregarding the moral side, it is difficult to reconcile fighting wars to protect world freedom of trade when in peacetime we attempt to restrain such trade by tariff barriers. When it comes to accepting subsidies from the Government in one form or another it is difficult to overlook the immediate personal gains and see in the future that where the Government lays out capital it becomes a partner in the business and not a silent one. It is apparent that hope for the traditional American way of life cannot be bought without some self-sacrifice; and we cannot wait for the other fellow to start it because it is the responsibility of each individual citizen. By taking the long view our course should be apparent and not diverge sharply from our own personal benefit.

Jan 10, 1950

By Michael Bradbury

INTRODUCTION A major change in financing exports in recent years has been the decreased importance of subsidized export credits, following the commitment of the OECD countries to eliminate the subsidy element. Subsidized export credit rates are now often more expensive than market rates as the financing for exporters has decreased in volume and importance. The forfait market, in recognition of this decreasing importance, provides a rapidly expanding source of nonrecource finance for exporters. The following is a step by step guide to what it is, how it works, its benefits and problems. WHAT IS FORFAITING? Forfaiting is not new. It has been used in Europe for about 25 years to provide export finance for both capital goods and commodities without recourse to the exporter. Although long the preserve of exporters in Germany, and more lately Italy, forfaiting is now used increasingly by exporters in Great Britain, the United States, Canada and Scandinavia. It is a fairly simple operation with easy straight-forward documentation. The transaction involves the purchase by the forfaiting bank of a bill of exchange or a series of bills without recourse to the exporter. These bills will have been drawn by the exporter, accepted by the importer, and will usually bear the unconditional guarantee of the importer's bank. They are normally drawn payable at intervals during the credit period agreed between importer and exporter and are purchased at a discount by the forfaiter. The exporter thus obtains his cash payment and the importer receives his credit period. The forfaiter collects the amount of the bills as they mature directly from the importer. Credit periods vary, depending upon the type of goods and the country and commercial risk of the importer. The period is generally between one and five years with six monthly maturities. The usual forfait currencies are US dollars. Deutschmarks and Swiss francs and others, such as sterling, French francs, and the Scandinavian currencies are being used more frequently. CHOOSING FORFAITING Most types of financing require the continued involvement of the exporter in the financial side of the transaction during the credit period. Forfaiting has certain comparative advantages. In particular, it is possible to forfait 100 percent of the risk without recourse to the exporter, unlike government sponsored export finance schemes, where some retention of the risk by the exporter is required. In addition, exports from country sources do not present problems and forfaiting can also cover trade within the EEC. Other benefits for the exporter are: (a) The exporter's balance sheet is improved; debts are turned into cash thus improving the liquidity of the company and enhancing its cash flow. And there are no contingent liabilities for bills of exchange. (b) If the sales contract is in a foreign currency forfaiting removes the risk to the exporter of adverse movements in foreign exchange during the credit period. (c) Fluctuations in interest rates during the credit period can be ignored since in forfaiting the transaction is usually done on fixed interest rate terms on a discount basis. (d) The political and transfer risks are taken by the forfaiter. (e) The commercial risk is taken by the forfaiter. (f) The costs of administration and collection etc. during the credit period are removed.

Jan 1, 1985

By J. R. Campbell

In order to discuss the subject intelligently, it will be necessary to touch briefly on the forms in which sulphur is supposed to exist in coking coal to be carbonized in beehive or byproduct ovens. Sulphur is known to exist in coal as sulphides and sulphates, as can be determined experimentally. Then there is the so-called organic sulphur, i.e., sulphur in combination with the carbon, 'hydrogen, and oxygen of the coal, about which much has been written, but nothing definitely proven in an experimental way. In fact, so far. as we know, there never has been developed a satisfactory and conclusive method in the laboratory for the direct determination of organic sulphur. For most coking coals, it can be safely assumed that the preponderance of sulphur is in the form of pyrite (FeSz). When exposed to comparatively low temperatures during the coking process, it loses its sulphur according to the following chemical reaction: 7FeS2 = Fe7Ss + 6S. It will be seen, therefore, that six out of the 14 atoms of sulphur (or 42.8 per cent.) are expelled, or volatilized. FelSa remains in the coke as pyrrhotite, or magnetic sulphide of iron; this accounts for the highly magnetic properties of the powdered coke. A more commonly accepted reaction is FeS2 = FeS f S, in which the straight sulphide of iron is produced with 50 per cent. volatilization of sulphur. In the beehive methods of coke making, air is introduced in sufficient amounts to carry on the distilling and the coking processes, and the sulphur is oxidized along with the other volatile products: First, into sulphur dioxide (SO2), known by the pungent andsuffocating odoremitted from the trunnel head; second, into sulphuric anhydride (SOa); and, finally, into sulphuric acid, as it comes into contact with the air and moisture. In a properly regulated draft on a beehive oven, there is never complete combustion of the gases. In other words, the coking process should be carried on in a reducing atmosphere, and a low-grade producer gas kept issuing from the trunnel head. For coals of about 30 per cent. volatile matter, the ratio of air to gas is 3½ to 1. In complete combustion, the ratio is 6 to 1, producing an extremely high temperature

Jan 1, 1916

By G. S. Morison

I have bad considerable experience with the testing-machine at the Watertown Arsenal, having had broken there sixteen large steel eye-bars, besides quite a number of iron bars and two compression members. So far as accurate mid satisfactory results are concerned, the machine is all we could ask for, and the officers who have it in charge, together with their civil assistants, are thoroughly conversant with it 1 details, and entirely competent to make the tests required. The principal defect is that the force is very inadequate. As the machine is arranged, tile weighing apparatus is at one end and stationary, the measure of strain being carried from this to the scale-beam by the fluid in a tube m small that it looks like a wire. At the other end is placed the hydraulic press by which the power is applied; this press is mounted on a small carriage and held by two eight-inch screws about four feet above the floor, which arc of course strained in compression during tensile tests, and in tension during' compression tests. When the stretch of the material has exhausted the throw of the plunger it is necessary to relieve the strain, draw back the plunger, and move the carriage along, which is done by nuts turned by steam working on the large screws. Every specimen placed in the machine must be lifted above the large screws and lowered into position. To do this, crabs, running on travellers, which span the entire room, are placed over the machine, and by these the specimen can be lifted and put in place. The actual time required to make a test depends largely on the amount which the material stretches, bat it may generally be said, that for specimens which will stretch from two to three feet the

Jan 1, 1882

By A. Lee Barrett

MINE power systems are quite different in many respects from those usually found in industrial plants. Wide areas are served, usually by a circuit which is connected continuously throughout the mine. In some mines one circuit may run for several miles. There are usually a small number of branch circuits involved considering the areas covered. In all mines circuits are sectionalized at approximately 2500 ft by means of switches. All, or at least most branch circuits, are sectionalized by manual switches. In some mines automatic sectionalizing gear is used to give automatic overload protection at various strategic points in the system. However at the present time this practice is by no means general. Circuit hazards in mine electric systems are much greater than those encountered in industrial installation. Falls of roof or coal form a prominent hazard which may break the wire and may cause ground faults or partial ground faults. Ordinarily electric cables in mines cannot be insulated, there- fore n fall can easily cause a short circuit. The humidity in most mines is greater than 95 pct and at many points the floor is wet and water may be dripping from the roof over insulators, increasing the difficulties at that point. All electrical circuits must be contained in the mine entries and space must also be provided for moving equipment and men. Consequently, because of the proximity of the power circuit to the locomotives and other moving equipment a considerable hazard is introduced. Mine haulage track is not always good so that wrecks are not unusual. A wreck frequently does consider- able damage to the power circuit. A ground fault frequently results in heavy arcing which may be sustained. If the damage to the circuit is mechanical it may mean that a trip of coal has wrecked and a great deal of coal dust could be thrown into the air as a result of the wreck. The arc resulting from the ground fault could ignite the coal dust and a mine explosion would result. A continued ground fault, even if high in resistance, also may ignite the coal which may be on the bottom of the entry and a mine fire may result. The fire hazard is one of the most serious hazards in any coal mine. Since the mine circuit is completely interconnected, any power interruption resulting from a fault seriously affects the whole operation. Unless the mine is completely sectionalized the whole mine will be shut down until the fault is located and the proper switches are opened to isolate the fault; even then large areas may still be without power if they are supplied by a single power circuit which may be opened in isolating the fault. Further, mine power is usually supplied from a relatively small number of substations and the fault may be on a stub feed circuit, in which case power cannot be restored until the fault has been cleared. Practice varies widely with respect to placement of substations. Usually they will be spaced from I to 2 miles in 500V operations, and at 1 mile intervals or less, in 250 V operation. Actual mining operations govern substation placements and no general rules can be followed.

Jan 1, 1948

By Irving Fatt, Robert J. S. Brown

INTRODUCTION The wettability of reservoir rocks is recognized as one of the major factors that determines their multiphase flow properties. Multiphase flow properties in turn govern reservoir performance. For this reason, the reservoir engineer is vitally interested in the wettability of reservoir rock. The production research scientist is interested in wettability because the solution of the problem of improving waterflood recovery by use of surface-active additives may hinge on a detailed understanding of the wettability of reservoir rock. Early workers believed that all reservoir rocks were preferentially water wet. Continued study soon uncovered certain rocks which had flow properties that indicated that they were preferentially oil wet. Recent studies show that there is a spectrum of wettability. Some reservoir rocks have multiphase flow properties which indicate that they have an intermediate wettability. The differences in recovery observed among different reservoirs may, in part be the result of small differences in wettability. Differences in wettability amcng reservoir rocks may be the result of differences in the fraction of the total surface area that is preferentially oil wet and preferentially water wet. Nuclear magnetic relaxation measurements may provide a method for determining the fraction of preferentially oil wet and preferentially water wet area in porous media. Measurements to be reported here were made on water-saturated unconsolidated sand packs which were mixtures of preferentially oil wet and preferentially water wet sands. The resulting data show definitely that the fraction of each wettability in these sand packs can be determined by this nondestructive method of measurement. THEORY OF NUCLEAR MAGNETIC RELAXATION The details of the theory of nuclear magnetic relaxation have been presented previously1. In this paper, only a very brief review of the theory will be given to show its application to the measurement of fractional wettability. Nuclear magnetic relaxation is a process of adjustment undergone by certain atomic nuclei when their magnetic environment is changed. They adjust, or relax, to be in equilibrium with a new magnetic field. The reason that some atomic nuclei are affected by a magnetic field is that they themselves behave in some respects like tiny magnets. In particular the proton, the nucleus of the hydrogen atom, behaves as a magnet. The proton spins, somewhat as the earth spins on its axis. The spinning charge produces a magnetic field just as current traveling in a loop of wire produces a magnetic field. No net charge is required, however; for instance, the neutron has spin and magnetic moment. When the spinning proton is subjected to an externally applied magnetic field, its axis tends to line up with the magnetic field, somewhat as a compass needle tends to line up, but the spinning proton cannot do this as easily as the needle can. The proton also has mass, and its spinning mass makes the proton behave somewhat like a gyroscope. As is well known, a force which tends to change the axial direction of a gyroscope merely causes the gyroscope to precess: lhat is, the axis begins to trace out a conical surface. The gyroscope cannot actually assume the position suggested

Jan 1, 1957

THE CHAIRMAN (E. G. SPILSBURY, New York, N. Y.).-The relation of the character of manganese ore to the surrounding rocks was called to my attention very strikingly in a recent investigation in Costa Rica. In the foothills of the main coastal range there is a large deposit of manganese which extends for over 150 miles along the coast. This is in a porphyry district and the occurrences are almost exclusively along the lines of contact between a recent diorite intrusion through the porphyries. Wherever that intrusion appears to have exerted great force, the line of contact is very clear between the porphyries and the diorites. Where the action has been slower and the lifting force of the intrusion more gradual, there has been a zone of fracture of very considerable width. Those ores which occur where the fractured zone has not been very extensive carry a, lower percentage of manganese than where it has been deposited along a wider zone of fracture. In the so-called narrow veins, which are really the predominant ones, the solution carrying the manganese has evidently attacked the silica in the intrusive rock, and the resulting ore is practically a combination of manganese and silica, running froth 20 to 30 per cent. of manganese and from 20 to 40 per cent. of silica: hence those ores are not likely for a long time to become a factor in our manganese supply :for this country. On the other hand, where the disturbance to the porphyritic schist has been more intense; the manganese deposits are not so extensive, but the ore is richer, running from 45 to 51 and 52 per cent. manganese, with a silica content of from 4 to 5 per cent. There seems to be some resemblance in these deposits to those of the Cuyuna range. EDMUND NEWTON, Minneapolis, Minn.-The State Bureau of Mines has been working on the problem of concentrating manganiferous iron ore for two years or more. I should consider hand sorting as the best form of treatment, because it is practised at all of the mines which ship ore for making alloys, but not, however, oil the ore that is being used for pig iron. Hand sorting, assisted by selective mining, is readily applicable to some of this ore because the gangue is practically the original rock and is easily separated. However, it is only in rather limited zones that we find clean patches of rock. Generally the silica exists as a skeleton of the original rock structure, in which the manganese has been precipitated; some of the silica may have been dissolved, but if any of the original rock remains, the silica must be eliminated by ore-dressing processes.

Jan 1, 1918

By V 7. 0 / 300 dpi

WHEN the copper smelters were built, in Montana, all of the refractory products which were used in their construction were shipped in from Eastern factories. It was apparent that if a material suitable for the manufacture of these products could be found within the State, a saving of freight could be effected and a new industry built up. Prospecting for such materials was started and experiments were made with samples from numerous deposits. Considerable effort and funds were expended in an attempt to manufacture silica brick from Dillon quartz, a light colored sandstone that is found near Dillon, Mont., on the Oregon Shortline railroad. As a brick material the Dillon quartz was a failure, but it has proved very satisfactory as a silica cement. It is now being used in laying silica brick and for reverberatory furnace bottoms. A bed of quartzite that is particularly suited to the manufacture of high-grade silica brick -was finally discovered at Browns Spur, 6 miles west of Anaconda. The material from this deposit is now being used in the manufacture of the Anaconda silica brick, which have gained a wide reputation for heat-resisting and lasting qualities. The analysis of all average sample of this quartz is: SiO2,, 96.7; Fe203, 0.3; Al203, 2.5; CaO, 0.3 per cent. The very low percentage of fluxing ingredients makes this a most refractory material. All of the Anaconda silica brick are hand molded. Various types of brick machines have been tried, but the hand-mold process proved the best suited to the manufacture of silica brick from this material. The silica is first put through a jaw crusher and is then clumped into wet pans, where 4 per cent. of lime paste is added, to produce a bond. Without the lime the. material would not be plastic enough to mold. After a few minutes' grinding in the wet pans the material is conveyed to the molder, who forces it into the molds by hand. The brick are then dumped on pallets and placed in the drier, where they are left until dry enough to be set in the kilns. Some of the brick are re-pressed before being dried. They are burned about five days, in round down-draft kilns. It is not necessary to have as much heat in the kilns as the brick will be subjected

Jan 9, 1913

Jan 1, 1945

By Otis Hutchins

IT is intended to discuss in this paper the protection appliances used for high-temperature pyrometer installations involving the use of platinum couples and describe some of the characteristics of a new carborundum protection tube. Of all the components that go to make a complete pyrometer installation, the one given the least attention and the one about which there is the least exact information is the outer protection tube. This condition is unfortunate as much, and in some cases even the success of the equipment as a whole, depends on the proper type of protection. In the majority of cases, the installation is allowed to operate without attention until some part of the apparatus breaks clown. The outer tube is the component that usually fails and, more often than not, the failure causes breakage of the porcelain protection and ruin of the couple. This condition should be recognized and studied as it has a very important bearing upon the upkeep cost of pyrometer equipment. The cost of the outer protection tube is small compared with the cost of the platinum couple and procelain protection and it would well repay users of this type of equipment to replace their outer protection tubes at certain definite periods, which experience shows is necessary to prevent destruction of the platinum. Speaking generally, platinum thermocouple equipment is used for measuring temperatures over 2000° F. (1094° C.), and is used extensively for the control of brick and pipe kilns, glass pot furnaces, glass tank furnaces, heat-treating furnaces, open-hearth furnaces, and forge furnaces. A satisfactory protection tube must be sufficiently refractory not to soften at the maximum temperature within the furnace. It must be resistant to cracking clue to temperature changes, should be as nearly gas-tight as possible, and should be made of a material with a high thermal conductivity and great resistance toward erosion by the furnace atmosphere.

Jan 9, 1919

G. SHERBURNE ROGERS,* Washington, D. C. (written discussion?).- We are indebted to Captain Lucas for an interesting contribution to the literature of the salt-dome oil fields, and especially for his suggestion that a more aggressive method -of prospecting be adopted. The occasional discovery of new fields on, the Gulf Coast is in itself sufficient to show that the oil possibilities of the region are by no means exhausted, and those who have studied the area most thoroughly are the most optimistic regarding its future. Nevertheless, the search for new fields, according to present methods, involves the expenditure of great sums of money annually, for the proportion of dry holes to producing wells drilled yearly in the Gulf Coast region is much' greater than in most areas, even if all the wells drilled in what is commonly regarded as proved territory are included. Not only are the present methods of locating new domes very uncertain, but when a dome is discovered there is no assurance that it will be oil-bearing; or, if so, whether the oil occurs in the cap-rock, in the sands above it, or in some small isolated lens of sand far down on the flanks of the salt mass. As Captain Lucas points out, about all we positively know is that the domes are there and that some of them are oil-bearing; their origin is a matter of controversy and the original source of the oil is conjectural. Under these conditions, it is not surprising that the search for oil is conducted more or less blindly and that dry holes are common. Many wells are drilled each year in an endeavor to find oil at depths of 2000 or 3000 ft. (609 to 914 m.) or less, in locations which most geologists would condemn without hesitation. As Captain Lucas suggests, the money spent in this way might be used to far better advantage in, drilling one deep well in a carefully selected locality. Opinions may differ as to whether such a, well would find oil, and many geologists will probably believe that the chances are against it, yet all will agree that the boring, whether it finds oil or not, will probably throw light on the origin of the domes and on the source and mode of accumulation of the oil, and will therefore be of great interest, not only to the scientist, but to the oil operator.

Jan 10, 1918

Jan 1, 1942

Horace F. Lunt, York, Montana* :—Two years ago I visited the region described by Mr. Jennings and assisted in the examination of a somewhat similar group of deposits in the White Mesa sandstone on the Navajo Indian Reservation, 125 miles north of Flagstaff and 50 miles east of the Kaibab plateau. There, the Triassic red sandstone is less than 200 ft. thick, and is overlain by a stratum from 200 to 250 ft. thick of white sandstone, which gives the name of " White Mesa" to that locality. The white sandstone shows all phases of crossbedding in great complexity, and evidently marks a period of oscillation and subsidence of the water, or an elevation of the land, at the close of a geological epoch. The prevailing color is white or gray, but occasionally it is red. In structure, it is composed of well-worn grains of quartzsand, from which most of the cementing material has been leached out, leaving it soft and friable. Possibly the cement was ferruginous, as is indicated by occasional traces of red color. The copper-deposits consist of a replacement of the cement of one particular cross-bedded stratum of the sandstone by chrysocolla, having also at times various quantities of tenorite in grains or masses. Some specimens of the ore contain as much as 32 per cent. of copper. Generally the copper-deposits are a few hundred cubic feet in size, and no strict line of demarcation is shown between them and the surrounding sandstone, the bluish-green color of the chrysocolla gradually fading into the white of the sandstone. The ore is apparently associated with small vertical crevices or fissures. Some of the deposits show a distinct vein-structure, while others do not. The origin of the ore is not very clear. Undoubtedly the solutions, coursing through the crevices noted above, played a prominent part in its deposition, as possibly

Jan 1, 1904

By Joshua Pelleg, G. M. Lindberg

THERE are three reported investigations of self-diffusion in niobium. Lundy et al.1 found their self-diffusion data well represented by the equation

Jan 1, 1970

Jan 1, 1942

By Roswell H. Johnson, W. E. Bernard

To know the rate of declinc of oil wells is very important, yet ordinarily we are prevented from getting this rate because the oil from several wells is put into one or a few tanks as soon as the wells have been connected to the power. The object of doing this is economy of tanks, pipes, labor, and accounting. But we are making a great sacrifice for this small economy. The advantages of the individual records are that we would know better: 1. When the well has ceased to be profitable. 2. When a well has gotten into bad condition. 3. The real record of the yield per acre and the rate of decline of the wells. The lease total is too mixed as to age of the wells for existing records to have much significance. To obtain such individual well records and more accurate logs are the great desiderata of satisfactory management of oil properties. 4. Which wells show the slowest decline—information which is valuable in locating new wells or purchasing adjoining leases. The truth of this statement is evident, when we reflect upon the large number of purchases of producing property. Intelligent appraisal is of the utmost advantage and it is impossible without individual well-pro-

Jan 1, 1918

By F. B. Foley

With the possible exception of high-speed tool steel, the service demanded of rock-drill steel is probably more precarious than that of any other tool steel. Unaided by the helpful influence of alloys and dependent solely on the efficiency of the heat treatment applied for its ability to stand up under the abuse to which it is necessarily subjected, rock-drill steel is worthy of intensive study. For its heat treatment the smith has his fire, an oil fire perhaps, and a quenching bath; he judges the temperature by his eye. There are shops where excellent drills are produced by this method, but there are more where the product varies between very good and very bad. Pyrometers with specially designed equipment are used in but few cases. But the responsibility for rock-drill failures does not rest entirely on the smith. Little has been published concerning the efficiency of drill steel, though the Canadian Mining Journal1 published the breakage record of a large number of hollow drill steels. This record indicates that most of the breaks occur during the early life of the steel and that as a given batch of steel is used, its percentage of breakage decreases. This fact, the article points out, is at variance with the much-talked-of theory concerning failure from crystallization and fatigue. It seems to point to the fact that the greater part of drill-steel failure from breakage is traceable to faulty manufacture, resulting in defects in the bore of the hollow steel from inclusions of slag or oxides, etc. As this defective material meets with early failure, it is weeded out. In addition, some breakage may be caused by a lack of proper condition with respect to heat treatment of the steel as furnished by the manufacturer. In the article mentioned, the breakage of 1/14-in (3.17 cm.) hollow steel is given as 4.62 per cent. for the early period of use, with a decrease to 3.35 per cent. and 2.67 per cent. with time in use. For 1-in. (2.5 cm.) hexagonal hollow steel, the figures for breakage are 0.18 per cent. and 0.06 per cent.; attention is called to the great decrease in breakage by the use of smaller diameter drills. The figures are given as so many drills sharpened, but there is no way of determining the percentage of

Jan 1, 1922