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By J. V. Gluck

In the present paper," as in earlier publications, V1'2"1 the authors present experimentally obtained relations for the free energy of solution of oxygen in various metals as a function of temperature. The relations are linear and given in slope-intercept form. The authors give values for the "probable error" of the slope and intercept, citing Birge's method17 for obtaining these quantities. Birge discussed these methods as early as the period 1929-32.25726 In Ref. 25 the probable error is defined as "the numerical value which the true error is as likely to exceed as not", i.e., 50 pct probability. Ref. 26 is even more detailed and includes a lengthy discussion of the applicability of the Gaussian distribution to experimental data. However, the use of the "probable error" has come under some question. For example, Ezekiel'~ states that "the use of the probable error tends to make the results appear rather more accurate than the standard error". Moroney28 stated (in 1951) that "the term 'probable error' was used in former times to denote 0.67450 (50 pct confidence using the normal distribution)....the term, a poor one, is now very much obsolescent. It has been said that 'it is neither an error nor probable' ". Bennett and Franklin in 1954" in discussing statistical confidence levels mentioned that "the customary use of the 5 and 1 pct levels is not completely a matter of chance; these levels probably represent a balance between the desire to be correct and the desire to be specific. Also in most people's minds the borderline between something that could possibly happen and something that is not likely to happen is somewhere in this region. Certainly 5 or 1 pct confidence limits are to be preferred to limits such as the 'probable error' which has only a 50/50 chance of including the correct value." It may readily be seen that the 95 pct confidence level, which is given by 1.960 (assuming large sample size), thus corresponds to approximately three times the "probable error". Indeed, limits of one standard deviation correspond only to about 68 pct probability. Even if we triple the tolerances given by the authors in the equations of their Table 111, the deviations do not become excessive and would not detract from their excellent results. It could then be said with a high degree of confidence (95%) that the precision of the slope and intercept values is about *3-5 percent of their absolute levels rather than the 1-2 percent implied in Table 111. This is then compatible with an earlier suggestion of Gokcen~' of a probable accuracy of 5 pct in dissolved oxygen measurements by the technique employed. Alternatively, the authors could have

Jan 1, 1967

By M. C. Young

The Ozark Lead Company operating facilities are located in Reynolds County at the south end of the "New Lead Belt" of southeast Missouri. Development of this wholly owned subsidiary of Kennecott Copper Corporation started in May 1964, with a six foot diameter by 1250 foot deep steel lined shaft. A 20-foot diameter, 1480 foot deep, concrete lined production shaft was collared in March 1968. Production from the facilities began that month and has reached a present average of approximately 6000 tons per day. This paper describes the fully automatic system used to hoist the lead-zinc ore from a depth of 1420 feet to the surface crushing and concentrating facilities, as well as the man and materials hoisting system which allows the lowering of large equipment into the mine. MINING Galena, sphalerite and some copper minerals are found in several mineralized zones of the relatively flat lying dolomite of the "Bonneterre formation". The mineable ore zones vary from 10 feet to 110 feet thick, from 200 feet to 1200 feet wide, and several thousands of feet on strike. Two-boom diesel-hydraulic jumbos equipped with rotary percussion drills are used for both development and production. The jumbos are used principally to open the room and pillar stopes, and a track mounted down hole drill is used to bench in areas where the ore thickness warrants. Explosives used are ANFO, dynamite, and water-jell which are detonated by electric blasting caps. Broken ore (and waste) is hauled by rubber tired transports to chuted transfer raises. Approximately every 500 feet, these raises connect the orebody to the 15 foot by 28 foot train haulage level below. Two twenty ton diesel-hydraulic locomotives haul 160 tons per trip to storage pockets which have a total storage of 1500 tons of material. From these pockets the material is fed over a 6 foot by 20 foot mechanical vibrating feeder which includes one 4 foot by 6 foot grizzly section to a 48 inch by 60 inch jaw crusher. The grizzly and crusher products are transferred horizontally 45 feet on a 48 inch conveyor belt, to one of two 750 ton storage pockets. The material can flow unimpeded into one pocket or be deflected into the second pocket by a movable rock filled hopper. LOADING POCKET The material in each storage pocket is controlled by six lengths of ship anchor chain. The upper end of the 20 foot chain is anchored behind a brow in the pocket, while the lower ends are joined by a header. The lower ends of the chains are raised by two electric powered marine barge winches using 3/4 inch cables. The crusher operator controls the raising and lowering of these chains from a console in the crusher station. The upper and lower travel of the chains is controlled by cams and limit switches on the winch drive. The winches are located within 5 feet of the shaft, and shaft water continually causes problems with the electric components. A malfunction in the upper travel switch will cause the winch to pull the chains into the cable sheave (breaking the cable or sheave), while the lower switch causes the winch to unwind too much rope. Serious consideration is being given to changing the electric motors to pneumatic, since pneumatic motors will eliminate the need of any electrics at the winches. The winches can be "bottomed out" against the sheave without damage to the cable or sheave when raising the chains, and can be allowed to "free wheel" to lower the chains. A surge pocket below the two storage pockets feeds material to two

Jan 1, 1975

By H. R. Hanley, D. F. Walsh, C. Y. Clayton

Lead-refining practice at the Bunker Hill differs to some extent from that of other United States refineries using the Parkes process, in that the Bunker Hill has reverted to a custom used years ago of making two kinds of skims, or crusts, in the desilverizing kettles. Also, this was the first refinery to adopt the liquation process for silver skims as developed in Australia. Both of these ideas were brought to the attention of the operator by H. S. J. Sommerset, in the summer of 1924, while he was visiting metallurgical plants in the United States, when he was general superintendent of the Broken Hill Associated Smelters Pty., Ltd., of Port Pirie, South Australia. Since Mr. Sommerset's visit, United States patents on the liquation process have been issued to George Kenneth Williams, of Port Pirie, South Australia. At the Bunker Hill, the lead bullion is conveyed from the blast furnaces to the refinery in brick-lined cast-steel pots, each having a capacity of 5 tons, by a 20-ton electric crane, to which is suspended a Fairbanks-Morse suspension-type scale on which the gross, tare and net weights are obtained. The bullion is poured from the small bullion pots into either one of two kettles of 105 tons capacity, and when a kettle is entirely filled the heavy dross is removed by skimming it into a 5-ton pot suspended by the crane. The crane operator becomes proficient in the manipulation and a kettle is skimmed in a very short time. After the kettle is skimmed clean the bullion is pumped to a kettle of the same size alongside, where the bullion is cooled until it has almost frozen. By using two kettles for the drossing operation, one to accumulate the bullion where the heavy dross is removed, and then pumping to a clean kettle comparatively free of hangings, etc., it is possible to reduce the copper content much lower than if only one kettle is used in the operation. The average yearly analysis of bullion is given in Table 1. During July, August, September, and October, when a considerable quantity of high-grade silver ore from the Yukon Territory is smelted,

Jan 1, 1930

TO THE BOARD OF DIRECTORS AND THE MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN: Herewith are submitted the report of the Treasurer for the year 1936 and the reports for the same year of the following committees: Admis¬sions, Membership, Papers and Publications, Library, Student Relations, and MINING AND METALLURGY. To these reports you are referred for details of the year's activities. Finances.-Income for the year was $173,091 including an appropria¬tion of $2500 from the Rocky Mountain Fund earmarked to defray expense for official visits to western Sections and student societies. This compares with $141,754 in 1935 and exceeds by more than $50,000 the income of 1933 wherein the low point during the depression was reached. The major items of increase were: $6,700 from current dues; $10,600 in initiation fees and dues of newly enrolled members; $10,800 from the monthly magazine MINING AND METALLURGY. Sundry small declines were offset by minor increases. Expenditures for the year totaled $176,007 compared with $148,361 in 1935. Major increases were $5,700 for MINING AND METALLURGY; $4,000 for TRANSACTIONS and TECHNICAL PUBLICATIONS; $1,500 for meetings; $1,300 for Local Section appropriations; $6,500 for Technical Division expense; $5,000 for Increase of Membership expense; and $2,500 for visits to Local Sections and educational institutions. Comment on several of these items will appear under subsequent heads. Net deficit for the year was $2,915, this sum being made up from the accumulated surplus. It is interesting to observe that the net excess of income over outgo for the five-year period 1932-1936, inclusive, is $760. Membership and Dues.-During the year there was a net gain in membership, including Members, Associates, Junior Members and Junior Foreign Affiliates of 755 (from 7116 to 7871). In addition there was a gain of 616 in Student Associates (from 1004 to 1620). Taking account of small losses totaling 5 in the other grades, the net increase was 1366 bringing the total to 9607, the highest figure reached in the history of the Institute except at the end of 1921 when the total was 9850. In part the gain is accounted for by the smaller number lost by suspension

Jan 1, 1937

By George W. Neumann

The mines and concentrator of Brunswick Mining and Smelting Corporation are located in the northern part of the province of New Brunswick, approximately 20 miles distant from the City of Bathurst. Discovery of the No. 6 orebody by diamond drilling in 1952 was followed by the finding in March 1953, of the larger and higher- grade No. 12 orebody, approximately six miles to the north of the No. 6 deposit. Original development was financed by St. Joseph Lead Co., and included a small open-pit operation with a 10C ton per day pilot mill at No. 6 orebody, shaft sinking and underground development at No. 1; orebody, and an extensive program of laboratory and pilot plant metallurgical research on No. 12 ore. These operations were suspended in May 1958, and remained in standby condition until June 1961, when the equity of St. Joseph Lead Co. was purchased by a group headed by M. J. Boylen, K. C. Irving, Maritime Mining Corporation, and the Patino Corporation. Construction of a mine plant and concentrator at the No. 12 mine commenced in October 1962 and the concentrator was placed in operation in March, 1961b. Preparation of the open pit mine for production, construction of the No. 6 Concentrator to produce bulk Pb-Zn-Cu-Ag concentrate from No. 6 ore, and construction of an Imperial Smelting Process smelter at Belledune were started in 1964 and placed in operation in September 1966.

Jan 1, 1970

By Gary E. Parish

TABLE OF CONTENTS Contents I. Introduction II. Purpose of the Paper III. Historical Perspective A. Existing Sources B. New Sources (NSPS) C. Hazardous Pollutants (NESHAPS) D. Enforcement/Judicial Review 1. Title I Enforcement 2. Title III Enforcement 3. Information Gathering E. Summary IV. The Clean Air Act Amendments of 1977 (1977 Act) A. SIP-Related Provisions 1. Section 107(d) - Geographic Boundaries 2. Section 108 - Air Quality Criteria 3. Section 109 – NAAQS 4. Section 110 – SIPs 5. Section 122 and Sections 402 and 403 of P.L 95-95 – Unregulated Pollutants 6. Emission Offsets – Interpretive Ruling (I.R.) B. PSD Provisions - Part C. 1. Regulations Under the 1970 Act 2. The 1977 Act 3. Regulations Under the 1977 Act C. Visibility Protection - Part C, Subpart 2 D. Non-Attainment Provisions - Part D E. Monitoring and Modeling F. NSPS G. NESHAPS H. Enforcement/Judicial Review 1. Title I 2. Economic Enforcement 3. Title III Enforcement/Judicial Review (a) Section 304 (b) Section 307 4. Summary V. Special Problems and Opportunities for the Uranium Industry A. End Use B. Transportation C. Milling/Processing D. Extraction E. Exploration/Discovery F. General VI. Conclusions Appendix A Footnotes

Jan 1, 1979

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By Charles Wert

THE diffusion and precipitation of carbon and nitrogen in a iron have previously been investigated using the internal friction as a measuring tool.' Most of this work has been done on rather pure iron; no effect was observed which would indicate that either of these phenomena is affected by the rather small amounts of impurity found in these samples of iron. Fastz observed, however, that both the diffusion rate and the aging properties of nitrogen in iron were sensibly changed by the addition of Vz pet Mn. The diffusion rate at a given temperature is reduced and the nucleation of nitrides is apparently changed somewhat. He observed no such changes for carbon in this alloy. Later Dijkstra and Sladek" extended these observations on nitrogen to other alloys of iron. They found that metals other than manganese also influence the behavior of nitrogen in iron; chromium, molybdenum and especially vanadium affect the diffusion and precipitation of nitrogen even more than manganese does. Their results have been verified in all essential details by this author, who finds in addition that small additions of nickel have about the same effect on the diffusion of nitrogen as the same amount of manganese. The present work was undertaken to study the effect on carbon in iron of these alloying elements. The alloys used had two sources. The material used as a "standard" (designated Fe in this paper) in the measurements was some iron supplied by J. K. Stanley, of Westinghouse Electric Corp., who reported 0.01 pct 0, as the only major impurity. He also made up an alloy of 0.26 pct Ni and one of 0.9 pct Mo using this same iron as a base. They were supplied by him in 2 lb billets, which were sawed into rods and cold formed into 0.030 in. wires for measurement. The alloys of chromium, manganese, and vanadium were prepared by the metallurgy section of the Institute for the Study of Metals, University of Chicago, by adding these metals in turn to vacuum melts of National Research Corp. iron. The small castings prepared in this way were also cold formed into 0.030 in. wires. After these wires had been prepared they were decarburized for 30 min at 730°C in wet Hz. After this treatment, no trace of carbon (as measured by internal friction) could be found. All specimens were then carburized for about 15 min at 710°C and water quenched. By this treatment the internal friction at 40°C was raised to a Q-' ~ 0.015. The diffusion of carbon in these alloys was studied by observing the shape and position of the internal friction peak at 0.9 cycles per sec. These measurements were made using a torsional pendulum in a manner described earlier.' The data are plotted in Fig. 1. It is seen that there is no apparent difference in internal friction between the various alloys. This is in marked distinction to the broadening and shift-

Jan 1, 1953

By E. H. Fahmy, L. C. Uren

During recent years, oil producers have observed with interest the practical success which has attended the application of water as a medium for displacement of oil from its reservoir sands in the Bradford field of northern Pennsylvania and southern New York. Here, according to various authorities, additional recoveries of frorn 2,000 to 12,000 bhl. of oil per acre have heen secured by this method, after ordinary flowing and pumping. rnethods of production had practically reached the lower limit of economic operation. Notwithstanding the success which has attended the practical use of the flooding process in the Bradford field, oil producers in other regions are skeptical of its value when applied under physical conditions differing markedly from those which characterizc the Bradford field. Its usc would probably he construed as illegal in most of the oil-producing states. This general relnctance on the part of oil producers in other regions to accept the flooding process is due in large part to lack of infor-n~ation regarding the factors that influence its operation and efficiency. With the purpose of clarifying to some extent the issues involved, and of determining when the flooding proccess may or may not beeffee-tivcly ernployed, the writers have conducted a serics of laboratory exper-imentments under carefully controlled conditions, designed to indicate, the influence of various physical, chemical arid lithologic factors. These experments have not been conducted under conditions identical with those which exist at depths far below the earth's surface, so that direct quantitative comparisons with field results are not justified, hut it is believed that the experimental results at least warrant qualitative inter-pretations that may he applied to field conditions. The methods employed in the conduct of these experiments are briefly explained, and the results, together with the conclusions based thereon, arc presented. FactoRs Influencing Displacement of Oil froM SaNdS by WAteR- flooding Before presenting the experimental data, it, will he desirable to con-sider the manner in which the residual oil is retained within the oil sand

Jan 1, 1928

By C. Y. Clayton

In connection with certain cooperative work carried on between the Ordnance Department of the U. S. Army, the U. S. Bureau of Mines, and the U. S. Geological Survey during the year 1918, it was the writers' privilege to make metallographic examinations of a great many test bars and other pieces of nickel-steel gun forgings. The material studied came from many different steel plants throughout the country and consisted both of forgings that had been accepted by the Ordnance Department and those that had failed to pass the specified physical tests. In general, these tests require a minimum tensile strength of 95,000 lb. (42,091 kg.)! an elastic limit of 65,000 lb. (29,483 kg.), an 18 per cent, elongation, and a 30 per cent. reduction in area. An average chemical composition of the steel studied is 0.38 per cent. carbon and 2.9 per cent. nickel. The steel was of both basic electric and basic open-hearth manufacture. The object of the metallographic work was twofold: to assist in detecting defects in the steel and, if possible, to suggest remedies for the same; and to obtain as much information as possible in regard to the relation of the microstructure of the metal to its physical properties. The grcatcr part of the investigation was devoted to defective metal that failed to pass the ordnance specifications. Many types and kinds of more or less serious defects thus came under observation, but most of these were due to the attempts by the manufacturer to meet the enormous demand for ordnance steel with more or less inadequate equipment, and were soon remedied. Two defects, the so-called "flakes" or "snowflakes" and a certain "fibrous" or "woody" fracture, were encountered so frequently and were so disastrous to the steel that the greater part of the study was devoted to them. As a result much information as to their nature and their effects upon the steel and something in regard to some of the conditions that favor their development has been obtained. The purpose of the present

Jan 1, 1920

By H. E. Searle, Robert J. McKay, O. B. J. Fraser

The practical study of corrosion requires consideration of its economic aspects. It must be based on sound scientific principles, but it should be borne in mind that probably the most important object of a corrosion test is to determine what metal in corrosion-resisting construction will produce the greatest operating profit. Thus the corrosion test must be directly connected with money values or it is not a practical corrosion test. This, perhaps unusual, connection between corrosion and economics is partially due to the fact that corrosion deals only with the time factor or duration of equipment, and it is almost the only test which deals with this feature. In these statements a departure is made from the academic definition of the word corrosion and it is done deliberately. The use of the term corrosion is unusual. It is as though we spoke of a tensile test as a "breaking" test. We are not interested primarily in the break but in the strength of the metal. There is no English word which expresses our main interest in corrosion-testing, but let us have clearly in mind that we make corrosion tests to prevent corrosion. Our real interest is in this corrosion-prevention, not in the corrosion. Previous to 1922, it was common comment that "it is impossible to determine the course of corrosion by laboratory testing.'' This statement was true at that time in that the technique of laboratory testing for corrosion resistance was so vague that tests in the laboratory gave untrue results almost as often as true ones. This was so, even in the simple case of determining which one of two metals better resists a given solution. While this is no longer true the number of misleading "corrosion tests" still being ground out by laboratories is too large in the light of our present knowledge. There are two important features of corrosion testing whose neglect is a large contributing factor to misleading results: (1) The economic relations of the corrosion tests to other tests; (2) testing technique. Regarding economic relations J. F. Thompson l has said: "The use of any particular metal is rarely based upon the sole property of resistance to corrosion. In fact, I should like to venture the assertion

Jan 1, 1929

By Robert J. McKay, O. B. J. Fraser, H. E. Searle

The practical study of corrosion requires consideration of its economic aspects. It must be based on sound scientific principles, but it should be borne in mind that probably the most important object of a corrosion test is to determine what metal in corrosion-resisting construction will produce the greatest operating profit. Thus the corrosion test must be directly connected with money values or it is not a practical corrosion test. This, perhaps unusual, connection between corrosion and economics is partially due to the fact that corrosion deals only with the time factor or duration of equipment, and it is almost the only test which deals with this feature. In these statements a departure is made from the academic definition of the word corrosion and it is done deliberately. The use of the term corrosion is unusual. It is as though we spoke of a tensile test as a "breaking" test. We are not interested primarily in the break but in the strength of the metal. There is no English word which expresses our main interest in corrosion-testing, but let us have clearly in mind that we make corrosion tests to prevent corrosion. Our real interest is in this corrosion-prevention, not in the corrosion. Previous to 1922, it was common comment that "it is impossible to determine the course of corrosion by laboratory testing.'' This statement was true at that time in that the technique of laboratory testing for corrosion resistance was so vague that tests in the laboratory gave untrue results almost as often as true ones. This was so, even in the simple case of determining which one of two metals better resists a given solution. While this is no longer true the number of misleading "corrosion tests" still being ground out by laboratories is too large in the light of our present knowledge. There are two important features of corrosion testing whose neglect is a large contributing factor to misleading results: (1) The economic relations of the corrosion tests to other tests; (2) testing technique. Regarding economic relations J. F. Thompson l has said: "The use of any particular metal is rarely based upon the sole property of resistance to corrosion. In fact, I should like to venture the assertion

Jan 1, 1929

When the writer first began his search for the early history of coal he was amazed at the paucity of information in literature about it, and while after six years many of the reasons for such a scarcity are understood, there are still many cases, even within the last two centuries, when one who can appreciate the tremendous part coal has played in the development of modern times, finds it hard to realize how little attention was paid to this material in those early clays. Occasionally a traveller or observer is found who foresaw how valuable coal was to be when industries were developed, but these were few and to most of those recording its occurrence it was just another mineral. George Washington was farsighted in his view of the development of this country and the need for means of transportation across the mountain barrier, but it was at least sixteen years after he must first have known of coal before he made any reference to it in his journals. He did, however, knowingly or not, select some valuable coal properties in the lands lie obtained in the West. This was then almost entirely an agricultural country, and what industries there were found a great abundance of wood fuel within easy access, there were no steam plants, and all iron was made with charcoal; in fact, the "captive mines" of the iron industry then were large timber "plantations," and when these were exhausted the furnace usually was abandoned and another one built elsewhere, as transportation of charcoal was quite expensive. Along the seaboard the cities and industries began to import coal from England and Nova Scotia early in the eighteenth century, but until the war of the Revolution began the total quantity of coal used yearly in this continent did not exceed nine thousand tons. In 1800 only two places, Pittsburgh and Richmond, Virginia, were using coal to any extent for domestic purposes and it was much later. than this that the amount of coal used in Philadelphia, New fork, and Boston exceeded that of wood. Practically all of the early travellers and writers mentioning coal are noted in the following pages. Several Englishmen who were evidently familiar with its use and value at home, mention its presence as being of great future promise to the young nation, but to nearly all it was more or less of a curiosity and the smoke caused by its use an abomination, and it

Jan 1, 1942

By Frederick G. Coqueron, Joseph E. Pogue

The purpose of this study is to present the results of a detailed survey of the financial and operating aspects of 30 oil companies comprising a major sample of the American petroleum industry. This review supplements a previous paper entitled "Capital Flow and Capital Formation in the Petroleum Industry, 1934-1941,"a and deals not only with a longer period but also gives new and more revealing analyses of the capital movements and characteristics. The data are gathered from published financial statements of the companies, especially the annual reports to stockholders and Form 10-K to the Securities and Exchange Commission, supplemented by confidential information. The 30 oil companies covered by this study are listed on the leading stock exchanges and for the purpose of analysis are grouped as follows: 9 companiesb engaged principally in crude production, 4 companiesc with production averaging in excess of refinery requirements, and 17 companiesd with refinery throughput in excess of crude production. These samples are sufficiently broad and representative to constitute norms against which individual company performances may be profitably compared. The 30 companies in 1942 produced 54 per cent of the Nation's total output of crude oil and refined 79 per cent of the country's crude run to stills. The financial data apply predominantly to the domestic oil business, although 15 of the companies have investments and operate facilities in foreign countries. The net value of these foreign holdings amounted to 724 million dollars, or 12 per cent, of the combined net assets of the 30 oil companies at December 31, 1942.

Jan 1, 1944

By J. A. Morgan, R. E. Lund, D. E. Warnes

The design, operation, and performance of an integrated pilot plant for recovering zinc and copper from a complex sulfide ore are described. Metallurqical processing comprised selective sulfate roasting in a fluid bed, leaching in a weak sulfuric acid solution, recovering copper by cementation with scrap iron, air oxidation to remove soluble iron, more-or-less conventional Purification for removal of impurities deleterious to zinc electrolysis, recovering zinc by electrolyzing solutions, and recycling spent electrolyte to the sulfating roaster. The effects of several feed preparation and roasting variables on the sulfation response of zinc, copper, and iron are set forth, together with the electrolyzing characteristics of the zinc solutions. SEVERAL years ago, St. Joseph Lead Co. undertook a research program to develop procedures for winning values from a complex ore. The deposit was a massive sulfide ore body containing upwards of 65 pct pyrite. Gangue, composed principally of quartz, calcite, dolomite, and alumina, comprised only 10 to 20 pct of the mineralized zones. Zinc, lead, and copper values were variable, but averaged about 6.7 pct Zn, 2.6 pct Pb, and 0.4 pct Cu. Early in the exploratory test work, it was established that the intimate physical association of the minerals in the ore made beneficiation by conventional flotation procedures difficult. Accordingly, in addition to a comprehensive program to investigate physical methods of ore beneficiation, a research program was established to develop a direct metallurgical method for processing the ore. After surveying a number of potential methods for recovery of both metal and sulfur values, effort was concentrated on the development of a sulfate roasting process. It is the pilot-plant development of the sulfate roasting-solution purification—electrolyzing procedures which forms the subject of the present paper. PREPILOT PLANT INVESTIGATIONS From a thermodynamic viewpoint, it is feasible to sulfate selectively a host of metals, including Zn, Cu, Pb, Cd, Ni, and Co, in an iron sulfide ore without sulfating iron. Of course, a number of conditions such as roasting temperature and gas composition must be controlled. In addition, as first disclosed by Hybinette,' an alkali metal salt is frequently beneficial in promoting the sulfation reactions. The application of fluid bed roasting to the sulfate roasting of nonferrous metals was pioneered by Stephens of Battelle Memorial Institute.' Subsequently, Falconbridge Nickel Mines, Ltd. developed an unique process for selectively sulfating and recovering nickel, copper, and cobalt from their nickeliferous pyrrhotite, which recently has been described in an excellent paper by Thornhill.3 One of the unique features of the Falconbridge process is that the feed is introduced into the fluidized roasting furnace in a manner such that the feed slurry is broken up into droplets and the droplets lose their moisture before contacting the surface of the fluidized bed. The dried droplets do not tend to cake or fuse, but rather remain as discrete agglomerates of concentrate particles and roast without significant degradation. St. Joseph, aware that Battelle Memorial Institute had participated in the development of the Falconbridge process, obtained permission from Falcon-

Jan 1, 1962

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the length of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel per day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel per day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from the commonly understood barrel per day value, in that the conditions surrounding the sale of one lease or property at a fair market value may

Jan 1, 1922

By D. C. DERINGER

METALLURGISTS and mill operators appreciate, in a general way, .the economic or commercial relationship between recovery and grade of product but few have correlated in detail fluctuating metal prices with the metallurgy. They know that many factors such as metal price, dedusiions for returning charge, transportation, percentage of metal in head ore, etc.; all affect the commercial relationship between recovery and grade of product. In practically every mill some one at some ' time has calculated the amount of recovery that can be sacrificed for each percentage increase in grade of concentrate and from this calculated ratio the commercial or ., economic tail has been established. Such a ratio finally becomes a well-entrenched rule by which the progress of the metallurgy is judged.. When once established, these-, ratios are but seldom corrected to changes of metal prices for each possible grade of concentrate that may be produced. The calculation is tedious when often repeated. Other methods have been suggested and used to correlate the commercial with the metallurgical phase. A factor .derived ,by multiplying the grade of concentrate by recovery is often used, but is of little importance because it does not possess a single commercial quantity. The percentage monetary recovery calculated by dividing the gross value of the ore into the net smelter return gives a good economic index and, is to be commended, but it is difficult to correlate exactly and quickly the work of each day on a commercial basis.

Jan 1, 1931

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members.) Members and guests who called at Institute headquarters during the period Apr. 10, 1916; to May 10, 1916: Philip P. Baily, New York, N. Y. George W. Otterson Seattle, Wash. John M. Brooks, Jr., Knoxville, Tenn. C. Q. Payne, New York, N. Y. C. A. Burdick, New York, N. Y. Charles F. Potter, Los Angeles, Cal. W. N. Crafts, Oberlin, Ohio. Albert E. Rhoads, Harrisburg, Pa. Andrew B. Crichton, Johnstown, Pa. M. F. Sayre, Schenectady, N. Y. 0. P. Hood, Pittsburgh, Pa. H. V. Smythe, Northpines, Ont., Canada. W. McA. Johnson, Tulsa Okla. W. 0. Snelling, Long Island City, N. Y. G. H. Morgan, New York, N. Y. W. H. Staver, Ophir, Colo. E. G. Norton, Chicago Ill., A. W. Tucker, Salisbury, N. C. M. L. O'Neale, Coal City, Ala. Andrew Weisenburg, Philadelphia, Pa. Arthur H. Brown has resigned his position with the Dome Lake Mining & Milling Co., South Porcupine, Ont., Canada. Robert Sterling has resigned his position as chief engineer of the Goldfield Consolidated Mines Co., Goldfield, Nev., to accept the position of assistant manager of the vanadium mines of the Primos Chemical Co., Vanadium, Colo.

Jan 6, 1916

By E. A. Gulbransen, K. F. Andrew

Thermodynamic information on the solubility of hydrogen in exothermic metals is limited. Thus, the overall solubility decreased as the temperature rose, which suggests the heat of solution of hydrogen in the metal is negative; yet the terminal solubility in the metal phase increased, which suggests an endothermic reaction. A thermodynamic analysis, therefore, was made of the several equilibria involved when hydrogen dissolved in the metal. Equations were derived expressing the solubility, terminal solubility, and decomposition pressures of hydrogen in terms of the heat, entropy, and free energy of solution of hydrogen in the given phase. The relations between the thermodynamic functions for the a-zirconium and 8-hydride phase were developed. The thermodynamic quantities were determined experimentally by the measurement of the decomposition pressures over a broad composition and temperature range. Two new methods of analyzing the experimental data were developed for determination of the terminal solubility. STUDIES', ' of the impact strength of zirconium at room temperature indicated that small quantities of hydrogen, of the order of 10 parts per million, embrittles the metal. Micrographic' and X-ray diffraction' studies showed this embrittlement to result from the precipitation of a second phase upon slow cooling. These studies suggested that the terminal solubility of hydrogen in the metal phase increased with increase of temperature. This behavior appeared to contradict the effect of temperature on exothermic hydrogen occluders such as zirconium. For these metals, the solubility of hydrogen should decrease with increase of temperature. Before these facts could be understood, a thorough analysis of the several equilibria was essential. It was the purpose of this paper to consider the several equilibria involved when hydrogen was reacted with zirconium from both the theoretical and experimental points of view. Since the overall solubility of hydrogen in the metal has been considered by a number of workers, it was proposed to study the composition range 0 to 6 atomic pct H in detail. Literature Schwartz and Mallett' determined the terminal solubilities of hydrogen in the metallic phase from diffusion studies. They extrapolated concentration-penetration curves to the boundary between the solid solution phase and the hydride phase at the surface. Their results showed values of 2.6 atomic pct at 400°C and 5.2 atomic pct at 500°C. Extrapolations of the data to room temperature suggested very low values for the terminal solubilities. This study confirmed the hydrogen embrittlement results and indicated that the terminal solubilities increased as the temperature was raised. The solution of hydrogen in zirconium over the complete concentration range was studied by Hall, Martin, and Rees3 and by others. The results showed that hydrogen was absorbed up to a maximum composition of 66 atomic pct or ZrH This composition represented the t-hydride phase. The maximum amount of hydrogen absorbed increased with pressure and decreased with temperature. Due to this temperature behavior, zirconium was classed as an exothermic occluder." In 1930 Hägg studied the crystal structures of the Zr-H alloys over a broad composition range. Four hydride phases were found. However, the range of homogeneity of the several phases was not studied. Gulbransen and Andrew" recently studied the phase diagram of this system by X-ray diffraction methods and by a thermodynamic method based on decomposition pressure measurements. The results showed that only two hydride phases existed for low temperatures, the 6 and the .-phases of Hagg.' Both phases had broad regions of homogeneity. The lower limit of the two-phase region of a and d-phases suggested a terminal solubility of 4 atomic pct at 500°C. This value was in agreement with the results of Schwartz and Mallett.' To avoid hydrogen embrittlement at low temperatures, it was necessary to heat the metal in high vacuum at elevated temperatures. To choose the conditions of temperature and high vacuum, it was

Jan 1, 1956