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Jan 1, 1929

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Jan 1, 1938

Arrangements have been made for a cooperative investigation of the fatigue phenomena of metals by the University of Illinois, the Engineer-ing Foundation, and the National Research Council. The work will be done in the laboratories of the Engineering Experiment Station, the Committee on the Fatigue Phenomena of Metals of the National Re-search Council acting as an advisory committee.

Jan 12, 1919

PROF RICHARD ÅKERMAN Stockholm, Sweden ANDREW CARNEGIR New York, N.Y. DR. JAMES DOUGLAS New York, N.Y. R.A. HADFIELD Sheffield England PROF HANS HOEFER Leoben, Austria PROF HATON DE LA GOUPILLIERE Paris, France M FLORIS OSMOND Paris, France PROF DIMITRY CONSTANTIN TSCHERNOFF St Petersburg, Russia PROF DR HERMANN WEDDING Berlin, Germany

Jan 1, 1910

Jan 1, 1879

Depending on viewpoint, slurry pipelines are a necessary part of coal expansion in the West, or an opportunistic venture that could cripple many American railroads.

Jan 10, 1977

By George E. Roberts

The maintenance of the common gold standard is the most important cooperative undertaking in the world. The war broke up this relationship and brought about a state of great disorder in the currencies and exchanges. After the war the countries all began to grope their way back to the gold standard as the best means of establishing trade and financial relations with each other. With this movement began a general decline in commodity prices. The question has been raised whether the world's return to the gold standard was not forcing prices back to the prewar level. Also, the question is raised whether the world has not outgrown the supply of gold as the basis of credit. Because Europe readjusted its monetary units to conform to the higher level of prices there is no pressure on prices on this account. Furthermore, a large amount of gold formerly in hand-to-hand circulation passed out of circulation and has been added to the central bank reserves. The gold reserves of 36 countries increased approximately 100 per cent from the outbreak of the war to June 30,1930. The increase is much larger than the average increase of prices in any of the important countries, at any time since 192.5. As gold in the central banks of issue is far more effective for all business purposes than gold in circulation, the gold scarcity argument has little basis as applied to this time. The abnormal distribution due to the war was to the disadvantage of business everywhere. Credit was scarcer and dearer in some countries. The inflation in this country might have been greater had the production of gold been greater. The argument supporting the theory of a scarcity of gold assumes as fundamental that general price changes must be accounted for by changes in the price equation on the side of money. This is disproved in every period of business depression. A downward price movement is characteristic of every period of business recession. Important discoveries of gold must be made even to maintain present gold production, in the face of which the world's business is bound to continue increasing. It cannot be doubted that some way will be found

Jan 1, 1931

SECTION I Page Page New York Section War Meeting on Employment xxxii Sulphur and Pyrite v Local Section News xxxiv War Minerals Committee xviii Forthcoming Meetings xxxvi St. Louis Meeting xx Library xxxvii Minutes, of Meeting, Executive Membership xli Committee xxvi Institute Committees Iv Members in Military Service xxvi Officers and Directors lxii Personal xxx

Jan 10, 1917

By M. E. Lombardi

THE cost of maintaining the production of an operating oil company is one of the most important, as well as one of the most difficult to estimate, of the various items which go to make up the total cost of producing oil. In the opinion of many operators the cost of drilling and developing new wells, whose production takes the place of the loss in production through decreased yield of the old wells, is considered an operating expense, for the reason that the total income-producing power of the property is not increased. The cost of these new wells may be added directly to production expense, or it may he charged to capital account, and this account depreciated to the same extent. In either case, after an oil company is on a satisfactory income-producing basis, the money for drilling new wells to maintain production must be taken from the income of the company. Three factors determine the cost of maintaining production: First, the rate of decline in yield of the wells; second, the cost of drilling and equipping new wells in terms of their production; third, the decrease in initial production of new wells as the property is drilled and gas pressure taken off the sands, etc. In order to check theoretical figures for the cost of maintaining production the writer, with the assistance of Reed Bush and Fred Tough, has compiled the following figures. It is necessary first of all to choose a period of time during which production for the field or territory studied remains fairly constant. The longer the period of time over which this condition prevails, the better. It is also necessary to eliminate or allow for any extraneous condition which may have affected the production returns, such as the shutting clown of a large number of wells, the bringing in of a well of exceptionally large yield, the opening up of virgin territory where the flush yield is greater than will he had from new wells in after years, etc.

Jan 9, 1915

CENTRAL EMERGENCY COMMITTEE Chairman, MRS. H. N. SPICER As no further requisition will be Made for knitted garments, for the boys of the 27th Engineers, all completed garments and wool have been collected and returned to Mr. W. R. Ingalls, and the activities of the

Jan 12, 1918

Jan 1, 1894

COUNCIL.* PRESIDENT OF THE COUNCIL. JAMES F. KEMP NEW YORK, N. Y. (Term expires February, 1913.) VICE-PRESIDENTS OF THE COUNCIL. S. B. CHRISTY BERKELEY, CAL. W. A. LATHROP PHILADELPHIA, PA. GARDNER F. WILLIAMS WASHINGTON, D. C. (Term expires February, 1913.) KARL EILERS NEW YORK, N. Y. WALDEMAR LINDGREN WASHINGTON, D. C. BENJAMIN B. THAYER NEW YORK, N. Y. (Term expires February, 1914.)

Jan 1, 1917