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By W. E. D. Stokes

The faster that aircraft fly the sooner some new and stronger material must be found to take the place of the present aluminum alloy used in all-metal planes. Experts of the National Advisory Committee for Aeronautics. in studying hi-speed aircraft, are convinced that the present all-metal plane, of semi-monocoque, aluminum alloy construction, is not the ultimate in aircraft design. Magnesium alloys and steel are under consideration.

Jan 1, 1942

By K. J. Edmiston, R. C. Kellner

Shortly after production was begun at the Duval Sierrita concentrator in February 1970, it became evident that difficulties would be experienced in reaching the designed operating level of 72,000 stpd. Since the major restrictions to production resided in the reduction crushing system, a comprehensive program was initiated to evaluate and optimize all crusher parameters affecting production. Positive relationships were established between production rate and crusher power draught, mantle support pressure, crusher setting, and crusher throw. Other parameters evaluated were the effects of feed distribution, crusher speed, mantle and concave configuration, choke feeding, and ore type. In order to obtain maximum production, it was also imperative that the mechanical integrity of the crushers be improved. Therefore, redesign of nearly the entire crusher assemblage, including such items as the top shell, bushings, and the mantle hydraulic support system, was required. In addition, automatic control stategies were evaluated and detailed operating guidelines were established. As a result of this extensive crusher examination, the limitation on plant throughput has been shifted to the grinding section, and a monthly average production level of 86,000 stpd is currently achieved. Programs under current evaluation are aimed at further increasing capacity to exceed 90,000 stpd.

Jan 1, 1976

By R. C. Ku, R. G. Davies

The stress-strain behavior of Fe-C and Fe-Ni solid-solution alloys has been investigated at 25°C. It is found that the rate of solid-solution strengthening is dependent upon the strain at which the yield stress is measured, the macroyield stress being much more concentration-dependent than the microyield stress. In fact the addition of nickel does not lead to any increase in the microyield stress of iron. The primary effect of increasing the carbon or nickel content is to increase the slope of the stress-strain curve in the microyield region; this effect has been correlated, by means of transmission electron microscopy, with a decreased ability of the dislocations to cross-slip. It is concluded that the Mott-Nabarro theory is a good description of true solid-solution hardening in these and other iron-base alloys. A.LL theories of the solid-solution strengthening1-4 indicate that the flow stress of an alloy increases both with solute concentration and "misfit" between the solvent and solute atoms. The functional relationship between strength, solute concentration, C, and misfit depends upon the particular theory. Mott and Nabarro1,2 and Schoeck and Seeger3 both predict a linear increase in strength with concentration, while Fleischer4 indicates that the strength should be proportional to C1/2; there are in the literature experimental observations to support both these compositional dependencies.1'8 The experimental evidence used to support the theories is the change in macroscopic yield stress (strain, e, = 10-3) with composition. However, recent investigations have revealed that solid-solution strengthening in a Cu-Al single crystals7 and in Fe-V polycrystal-line" alloys depends upon the strain at which the flow stress is measured; a flow stress in the microplastic range (e = 10-6 to 10-5) is much less concentration-dependent than the macroyield stress. Since the theories of solid-solution strengthening are concerned in particular with the stress to move a dislocation in a dislocation-free matrix, they should only be compared with microyield-stress data; it will be shown that in a material deforming homogeneously the microyield stress (e = 10-6) is approximately the stress to move through the matrix those dislocations which have been nucleated by stress concentrations such as particles or grain boundary ledges.9-11 In contrast, the macro-yield stress is more complex in that it is affected by several phenomena: dislocation multiplication, dislocation interactions, and the ease of propagating slip across grain boundaries. For example, it is experimentally observed that when long-range order12'13 or solute effects10 restrict cross alip the grain boundary

Jan 1, 1967

By Raja P. Upadhyay

An evaluation of the economics of mining the deep, thick oil shale deposits of the central portion of the Piceance Creek basin, Colorado, U.S.A. is presented in this paper. For the analysis, a modified large scale underground mining system developed by Cameron Engineers, Inc. and the Gas Combustion retorting process developed by the U.S. Bureau of Mines were used to determine capital investment and annual operating costs. A modified risk analysis computer program was then used to calculate DCFROI’s for various grades of oil shale and selling prices of partially refined shale oil. Sensitivity analyses were performed to quantify the affect of bonus bid payments, operating costs, capital investment, and all costs on DCFROI. In addition, a probabilistic evaluation was made to determine the risk involved in obtaining desired rates of return. Results of the economic evaluation indicate that for current selling prices of crude oil a high risk is involved in obtaining a DCFROI of 15%, unless only higher grades of oil shale are mined. However, mining only the higher grade oil shales, 125 l/mt (30 gpt) and above, would effectively reduce the potentially mineable resources by 90%. Risk can also be reduced through higher selling prices of shale oil. Sensitivity analyses indicate that the capital investment has a three times greater effect on required selling price than total operating costs.

Jan 1, 1977

By J. C. Draper

Duquesne Light Co.'s Portal No. 3 mine, in the Warwick group of mines in Southwestern Pennsylvania, was started in June 1965 with battery- powered tractor-trailer face haulage. The area as- signed to Portal No. 3 encompasses over 8000 acres of coal and will be developed by driving a set of main entries through the center of the tract in roughly a westerly direction, and sub mains on a 45º deflection angle in roughly a northerly direction (Figs 1 & 2). In the original planning these sub mains were to be at a 90º angle with the mains, but difficult roof conditions necessitated a change in plans. The entries and crosscuts are driven 18 ft wide in the normal Sewickley seam which varies between 46 and 56 in. high. The mine bottom is a strong shale and in average, cool or dry outside conditions stands up well for rubber-tired haulage equipment, but when the outside conditions are hot and humid, the bottom becomes soft and muddy. This condition lessens as the mine faces are advanced further from the portals because the condensation will then take place principally on the surfaces of intake entries outby the working areas. To aid the situation, an air cooling system was installed and is used as conditions dictate.

Jan 7, 1968

By AIME AIME

As already announced in the January Bulletin, this publication will be issued during the coming year monthly instead of bi-monthly as heretofore. Among other reasons for this change, it is desired to effect thereby the earlier transmission to members of important papers, lists of candidates for membership, and other items of timely information. Spokane Meeting and Excursions. Further details of the' 97th meeting of the Institute have been sent to members in the Circular of May 8, 1909. For, convenience of the members a summary of the additional in¬formation is here presented. A special train of Pullman cars will leave Chicago about September 15. This train will be side-tracked at all places visited, and the sleepers will be available for lodging and the dining-car for meals during the entire trip, except during the Yellowstone Park tour. The general. cost of the trip per member will be $300, which includes transportation, berth, and meals for the entire trip from Chicago back to Chicago, almost 6,000 miles, and the tour through Yellowstone Park, occupying in all about 30 days. Special accommodations on the train will be furnished at the following, rates

May 1, 1909

US 4,181,588 - Direct extraction of lead from lead sulflde ore. Ore is leached with a solution of ferric chloride and sodium chloride. The leach liquor is filtered to remove sulfur and gangue, then cooled in a crystallizer to precipitate lead chloride The slurry from the crystallizer is subjected to electrolysis to deposit lead chloride on the cathode plate. Solution from the electrolysis cell is used in the leaching step. M.M. Wong and F.P. Haver, assigned to US Secretary of the Interior Jan 1, 1980. 6 pp. (204-115). Filed: 1-4-79 (1,026).

Jan 1, 1982

By Charles Maier

IT has long been supposed that when crystalline materials are com-minuted the energy used in the production of increasingly smaller grain sizes is not entirely dissipated as heat but that a certain portion is "stored" as a part of the internal energy of the material. This portion usually has been called the "surface energy" of the particles. The practical interest of the Bureau of Mines in this subject in connection with the energy requirements of crushing processes has led to the author's attempt to measure the "stored" energy in finely divided calcite by heat-of-solution methods1. The experiments on calcite showed that "storage" of energy could not be proved for this material, because fine grinding caused a lack of chem-ical homogeneity evidenced by loss of carbon dioxide and subsequent adsorption of water on the surfaces of the calcite particles. When thermochemical correction was made for composition changes the cor-rected heat of solution was less for fine material than for coarse. Con-tinuation of the experimental work into the problem of comparing work and heat in the deformation of metallic crystals, where the calorimetric difficulties were less, showed, however, that in the case of copper and aluminum a real discrepancy between work and heat could be shown. similar results had previously been obtained by Farren and Taylor2 and Hort3 and more or less simultaneously with the author's work by

Jan 1, 1936

The age of specialization has made man increasingly dependent on a larger number of different metals and minerals. Overexploitation during World War II and lavish squandering of irreplaceable mineral wealth in the past has resulted in the rapidly approaching exhaustion of some of the major domestic ore sources. History clearly points out that the United States cannot continue to be a world power on an "import to survive" policy. A constructive program of development and appraisal of the nation's mineral wealth, including the planned conservation of her resources, must be adopted. Strictly speaking, conservation of minerals must mean the orderly exploitation of our resources and the prevention of waste in use, with due regard for the future. Real concern for the future may not extend beyond a few generations. Eventually science and invention should take care of the problems arising from shortages of some minerals, and the national defense aspects of domestic deficiencies can be provided for by stock piling and other measures. Early conservationists had this viewpoint; but with a rapidly developing industry and population, a farsighted policy that would deny full realization of immediate ambitions became unpopular. Consequently, the politically minded conservationist broadened the concept to include "prudent use of resources" and brought under the conservation umbrella

Jan 1, 1950

By G. Sachs, S. I. Liu

Introduction In a previous investigation on the effects of repeated strains of large magnitude on the aluminum alloy 24 ST, it was found that the reduction in ductility by straining in tension was partially restored by a subsequent compression.&apos; As illustrated by the dashed line in Fig I,$ the ductility (e~) retained after prestraining in tension by a certain amount (el) and measured in a subsequent tension test is represented by a straight line sloping down under 4s°. If a compression of the same magnitude as the first tension is inserted (€2 = — €1) between prestraining and final testing in tension, such a "balanced" tension-compression cycle yields a ductility considerably higher than that present after prestraining in tension only. The results of these tests can be correlated with those of an investigation on the effects of prestraining in compression.~ As also shown in Fig I, the ductility in subsequent tensile tests decreased with com- pression, at a rate considerably slower than that after prestraining in tension. The above discussed testing conditions can be considered as special cases of a general straining cycle, consisting of first, straining in tension by an amount el, subsequently straining in compression by an amount e2, and finally determining the retained &apos;ductility, e,, in a tensile test. Prestraining in tension is then represented by el > o and e2 = o. Prestraining in compression is given by e~ = o and e~ < o. Balanced cyclic straining is defined by the condition el > o and cz = — 61. In order to obtain further information on the effects of straining cycles consisting of tension and subsequent compression, further tests were made, varying both the tension strain, el, and the compression strain, e2, within extreme limits; el varied between 0.06 and 0.28 and e2 between — 0.008 and —0.h approximately. Apparently, such tests have not been previously performed. They revealed phenomena which have not been recognized to date, The results of the investigation are herewith reported, without attempting to correlate them with internal processes within the metal structure. However, in order to assist in an analysis of this type, the results have been represented in various manners. In addition, further test data on the effects of prestraining by compression were provided by using specimens of various contours (notched specimens) in the sub-

Jan 1, 1949

By Morris J. Elsing

FOR MANY YEARS lead and zinc have had the so-called protection of a tariff and it is the purpose of the following brief discussion to show what&apos; such protection actually accomplishes with a view to forecasting the possible results of the present copper tariff. In analyzing the subject, tabulations of the United States production, consumption, imports and exports, including ore and concentrates and all of the metallic products, of both lead and zinc have been made for each year since 1900. Of these data, the relationship of the imports and exports and the relative foreign and domestic prices are shown in Table 1. The conclusions drawn from these figures are listed below. 1. The United States is an exporter of zinc. 2. The United States is an importer of lead. 3. The average price of zinc at St. Louis for the last 32 years has been no higher than on the London market even though zinc and zinc ore have "enjoyed" a protective (?) tariff of varying amounts per pound for 22 years of this period. 4. The average price of lead on the New York market for 32 years has been 1.2c. per pound higher than on the London market, the tariff varying from 0.75 to 1.5c. per pound of lead in ore, and 1 to 2c. or more on manufactured lead.

Jan 1, 1932

By J. B. Newsom

DURING July and August, 1931, the Bloomington Limestone Co.,. at Bloomington, Ind., ran a single wire saw on ledge No. 2 at Maple Hill quarry. The ledge was hard rock, much harder than the average Indiana limestone. It was opened at two ends for a depth of about 20 ft., leaving a 130-ft. section between. During the tests 21 cuts were made in this ledge, to an average depth of 10.42 ft., for a total effective cutting area 028,445 sq. ft. The actual area sawed was about 20 per cent higher, as we did not level down in the center, preferring to cut deeper on the ends. The various cuts were carefully, logged, and the results plotted. A study of these results is interesting, as it enables a forecast of probable future costs to be made, and also because it points out the limitations of wire saws, and the lines development should logically take. Some of the inferences to be drawn are discussed below. Best Length of Cut.-No. trouble was due to length of cut, except that we could not easily level down a long cut, and it is probable that longer cuts, say up to 200 f t., can be made. Obviously, longer cuts will result in a higher sawing rate, in square feet per hour if- they do not cause stoppages. Working Higher Ledges.-The cuts averaged 10.42 ft. high by 130 ft. long. A study of several logs indicated that during only about 15 per cent of the cutting time was the saw cutting to its full efficiency; that is, during about 85 per cent of the time the saw was bedding in at the ends and not cutting well in the center, or the ends were below the floor line and only part of the wire was doing effective cutting. This does not mean that the wire was cutting to only 15 per cent of its capacity, but it means that during about 85 per cent of the time part of the cutting was being wasted. If higher ledges had been worked, the wire would have cut to its full efficiency a large part of the time, as it would have had a greater distance; to saw after it had bedded in to the ledge before the ends went down below the floor level. The exact saving to be expected cannot be calcu-lated, but it would be large, if really high cuts were made.

Jan 1, 1932

By Joseph E. Pogue

THAT the domestic consumption of gasoline displays a marked seasonal variation, with a low in the winter and a high in the summer, is well known. It is logical to expect that the nature of the variation has itself been undergoing a change as a result of improvement in roads, general employment of closed cars; and growth of mass haulage; but so far as I am aware the change in seasonal variation has never been investigated and measured. It is the purpose of this paper to present the method and results of such an investigation undertaken as a contribution to the technique of planning operating schedules now so prominent in connection with the functioning of the industry under a Federal quota system. For the method employed I am in-debted to the suggestions and help of Frederick R. Macaulay&apos;, who kindly looked over the work sheets; and credit is due Barnabas Bryan, Jr., for assisting in the computations and the graphic work. Ideas for the approach to the problem were also derived from an article by Aryness Joy, and Woodulief Thomas of the Division of Research and Statistics of the Federal Reserve Board*-.

Jan 1, 1934

By A. Vifian, I. lwasaki

Several samples of copper-nickel ore from the Duluth Gabbro were studied to relate their mineral-ogical characteristics with their amenability to concentration by flotation. The most common rocks in the samples were norites, gabbros, and troctolites. The texture of the rocks varied from coarse pegma-titic to very fine. The copper contents ranged from 0.2-0.7% and the nickel contents from 0.07-0.15%. The ore minerals were chalcopyrite, cubanite, pyrrhotite, and pentlandite. Most of the ore minerals occurred in interstices between laths of plagioclase, but some were included in the gangue grains. The samples responded readily to xanthate flotation. After a 65 to 100-mesh grind about 95% of the copper and 85% of the nickel were recovered in a bulk sulfide concentrate. Such recoveries remained constant even with grinds as fine as 270 mesh due to the extremely fine inclusions of sulfides in the silicate gangue. A finer grind than 270 mesh was necessary to free the copper-iron sulfides from the nickel-iron sulfides. A combination of time and British gum* was quite effective in producing concentrates analyzing 25-30% copper. The nickel concentrate averaged 1.5% nickel. Most of the nickel lost in the tailing was present as un-liberated sulfides and not as nickel in the olivine structure. The nickel content of the olivine was only about 0.05 or 0.08%. Western world nickel usage in 1967 is expected to be the second highest on record, amounting to 825 million lb. Despite a rise in mine production, however, demand is expected to exceed supply in 1968. &apos; Hence, exploration, development, and production expansion projects are being accelerated on a world scale. In Minnesota the copper-nickel bearing Duluth Gabbro is receiving much attention. During the past year 11 companies have been granted leases in the region, and the 1967 Minnesota legislature enacted a tax law designed to encourage the development of a copper-nickel industry. Although it is only during the past few years that mining companies have shown an active interest in the Minnesota copper-nickel deposit, copper-nickel minerals have been known to exist in northeastern Minnesota since 1899.3 At the 28th Mining Symposium, Dr. P. K. Sims, from the Geological Survey of Minnesota, gave a review of copper-nickel exploration in northeastern Minnesota,4 in which he emphasized that the potential of the Duluth Gabbro complex is large. Tests on samples from the Kawishiwi River area were reported by the United States Bureau of Mines in 1955.&apos; In 1964, the Mines Experiment Station described tests on samples from the Gunflint Trail: and in 1966 the Minnesota Geological Survey published a geological map of the Gabbro Lake Quadrangle. The Mines Experiment Station published a study of the concentration of a Minnesota copper-nickel ore in 1967.7 The present paper is divided into three parts. The first describes the mineralogy of some rock samples from the Kawishiwi River area of northeastern Minnesota; the second summarizes the results of numerous flotation tests that were made on the samples, and the third explains the loss of nickel in the flotation tailing. MINERALOGY OF KAWlSHlWl ROCKS Recently five samples of mineralized gabbro from the Kawishiwi River area, a few miles east of Ely, were received at the Mines Experiment Station. One of the samples was a 175-lb composite, which was designated Ore 1556. The other four samples were 7-lb grab samples that had been obtained from four different exploration pits. They were designated Ore 1626, Lots 1 through 4. Basic Mineralogy: Many authors have reported that the rocks of the so-called gabbro of the Duluth Intrusion vary widely in composition.8-9 The samples on which our studies were based also contained a wide range of rocks. A gabbro, olivine-gabbro, anorthosite-gabbro, norite, and a troctolite were represented. The essential minerals in the samples were plagio-clase, pyroxene, and olivine, in variable proportions.

Jan 1, 1969

For the year ending February, 1919 PRESIDENT SIDNEY J. JENNINGS NEW YORK, N. Y. PAST PRESIDENTS L. D. RICKETTS NEW YORK, N. Y. PHILIP N. MOORE ST. Louis, Mo. FIRST VICE-PRESIDENT C. W. GOODALE BUTTE, MONT. TREASURER GEORGE D. BARRON NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND, NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON NEW YORK, N. Y.

Jan 1, 1919

By DAVID F. McFARLAND

THE making of courses of study and curricula has long held first place as the favorite pastime of educators. As a game, this activity is as fascinating to some as golf or bridge, &apos;and the golfer&apos;s hope of a low score is matched by the teacher&apos;s ambition to some day evolve a sequence of studies that shall prove the ideal preparation for a life of maximum service and, profit. There are few in, this gathering who have not tried their skill at this game and still fewer are those who have been long satisfied by the product of their efforts. A curriculum is hardly printed in the college catalog before conditions arise which seem to make changes desirable, and strong will power is needed to maintain the program long enough to give it a fair trial. Metallurgical curricula are not less subject to change than others, &apos;and; indeed they have seemed, at times, to change more rapidly than other curricula because of the changing &apos;needs of the industries and the demand that the graduate be trained to meet the new conditions. Metallurgical practice is constantly proving that "time makes ancient good uncouth," and the graduate metallurgist is required to adapt himself to newer and

Jan 1, 1930

What has happened to the basic coal industry during the past year? Has it been a better year for coal than 1961? What striking new developments have occurred in mining, preparation and utilization? Are there positive signs that production will go up? What has happened in the utility market, the metallurgical market and the export market? Is the controversial question of coal transportation nearer to a solution? What progress has research made for coal during the year? The answer to these and many other important questions are offered in the following review of the Coal Industry-1962.

Jan 2, 1963

By E. I. Larsen, E. F. Swazy, F. R. Hensel

Experience has indicated that hard bronzes are not suitable for bearing applications where high bearing loads and speeds are involved. It is the general practice to utilize softer materials for these purposes, such as copper, lead, silver, babbitt, lead-base alloys, and more recently aluminum-base alloys, preferably supported by a steel backing. It was the objective of the present investigation to study a new material produced by powder metallurgical methods susceptible to precipitation-hardening. Test MAteriaIs Preliminary tests were made with compacts containing copper, nickel and silicon in quantities sufficient to form 3 to 5 per cent nickel silicide. It mas found that this type of alloy was susceptible to the formation of a soft surface shell when sintered in tank hydrogen. The depth of the shell depended On the length of sintering time and sintering temperature, and varied in thickness from a few thousandths to as much as One eighth inch. This soft shell resulted from the preferential oxidation of silicon, thereby reducing the efficiency of age-hardening by the nickel silicide compound. The body of the sintered compacts below the soft shell could be precipitation-hardened to a hardness of 70 to 85 Rockwell B, by quenching from goo°C. and age-hardening at 450°C. A series of tests was made with various addition agents, in order to decrease the rate of preferential oxidation, and it was found that phosphorus was most beneficial in this respect. After considerable experimentation, the following nominal com-position was accepted as standard: 2.4 per cent nickel; 0.8 silicon; 0.3 phosphorus; balance copper. The physical propertties and certain bearing properties of this alloy are described in the present paper Preparation of Compacts Several methods of incorporating the hardening ingredient (nickel silicide) were studied. Compacts formed from copper, nickel and silicon powders were found to be inferior to those fabricated from prealloyed nickel silicide master alloys, because of the rapid oxidation of pure silicon during sintering. The use of a prealloyed nickel silicide hardener containing 25 per cent silicon and 75 per cent nickel could be further improved by preparing a master alloy, incorporating nickel, silicon, phosphorus and copper, having the following nominal composition~ 25 per cent nickel; 7 silicon; 3 phosphorus 64 copper. This alloy is brittle in the cast condition and can be readily powdered. Sintering Procedure The blended powders were pressed at &apos;5 to 40 tons per sq&apos; in., the pressure depending on the size and shape of the compacts. Sintering was carried out in hydrogen or cracked ammonia atmospheres at

Jan 1, 1946

By E. I. Larsen, E. F. Swazy, F. R. Hensel

Experience has indicated that hard bronzes are not suitable for bearing applications where high bearing loads and speeds are involved. It is the general practice to utilize softer materials for these purposes, such as copper, lead, silver, babbitt, lead-base alloys, and more recently aluminum-base alloys, preferably supported by a steel backing. It was the objective of the present investigation to study a new material produced by powder metallurgical methods susceptible to precipitation-hardening. Test MAteriaIs Preliminary tests were made with compacts containing copper, nickel and silicon in quantities sufficient to form 3 to 5 per cent nickel silicide. It mas found that this type of alloy was susceptible to the formation of a soft surface shell when sintered in tank hydrogen. The depth of the shell depended On the length of sintering time and sintering temperature, and varied in thickness from a few thousandths to as much as One eighth inch. This soft shell resulted from the preferential oxidation of silicon, thereby reducing the efficiency of age-hardening by the nickel silicide compound. The body of the sintered compacts below the soft shell could be precipitation-hardened to a hardness of 70 to 85 Rockwell B, by quenching from goo°C. and age-hardening at 450°C. A series of tests was made with various addition agents, in order to decrease the rate of preferential oxidation, and it was found that phosphorus was most beneficial in this respect. After considerable experimentation, the following nominal com-position was accepted as standard: 2.4 per cent nickel; 0.8 silicon; 0.3 phosphorus; balance copper. The physical propertties and certain bearing properties of this alloy are described in the present paper Preparation of Compacts Several methods of incorporating the hardening ingredient (nickel silicide) were studied. Compacts formed from copper, nickel and silicon powders were found to be inferior to those fabricated from prealloyed nickel silicide master alloys, because of the rapid oxidation of pure silicon during sintering. The use of a prealloyed nickel silicide hardener containing 25 per cent silicon and 75 per cent nickel could be further improved by preparing a master alloy, incorporating nickel, silicon, phosphorus and copper, having the following nominal composition~ 25 per cent nickel; 7 silicon; 3 phosphorus 64 copper. This alloy is brittle in the cast condition and can be readily powdered. Sintering Procedure The blended powders were pressed at &apos;5 to 40 tons per sq&apos; in., the pressure depending on the size and shape of the compacts. Sintering was carried out in hydrogen or cracked ammonia atmospheres at

Jan 1, 1946

By Arthur Knapp

Oil-well depletion curves, to be of value, should show when a well or lease may no longer be operated at a profit. The difference, at any time, between the total expenditures and the total income of a lease or well may be called the lease status. Plotting this lease status against time will give a curve subject to more accurate and different interpretations than the barrels-time curves. According to the hypothetical barrels-time curves shown in Fig. 1, well A, at the end of 16 mo., is producing twice as much oil as well B and will continue to produce for another year whereas well B will cease producing in about 6 months. Data fob Lease Status-time or Dollars-timb Curve Time Lease Months Status Lease purchased for $3000.............................. 0 — $ 3,000 No expenses chargeable to lease for 3 mo................. 2 — 3,000 Well A is started; cost of drilling for month is $16,000..... 3 — 19,000 Well is completed at additional cost of $10,000............ 4 - 29,000 Well A is brought in and flows 10,000 bbl. first month (we Fig. 1). Necessary to invest in tanks, boilers, pipe lines, etc.; difference between expenditures and receipts gives profit for month of $5,000............................ 5 — 24,000 Investment is small, cost of operating well A is small, so profits are $15,000................................... 6 — 9,000 Well ceases to flow so there is additional investment for pumping equipment and additional operating expense; net earnings from 6,000 bbl. of oil produced is $4,000. 7 ... Lease operation nor becomes normal and curve becomes smooth........................................... 8 — 500 9 2,000 10 4,500 11 6,000 12 7,700 13 8,700 14 9,000 15 9,500 16 10,000 A hypothetical lease status-time, or dollars-time, curve of this lease is shown in Fig. 2. At zero time, the lease is purchased for $3000, which is plotted below the zero dollar line, All subsequent entries are plotted

Jan 1, 1921