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By Thomas D. Henderson, Donald E. Crowell

INTRODUCTION This paper presents a "case history" of the steps taken to estimate capital and operating costs for a typical porphyry copper concentrator of ±9,070 metric tons (10,000 short tons) per day capacity. The concentrator described herein is hypothetical, but is based on experience and is, in effect, a composite of several actual projects. The numbers used are illustrative only and do not represent actual costs at any particular concentrator. These numbers are, however, representative of typical milling costs at one point in time, and. are sufficiently accurate to illustrate the cost estimating procedures described in this paper. It is not possible to publish actual, current milling costs and, in any event, actual cost figures quickly become meaningless in today's economic situation with various costs all rising at different rates. The paper is divided into three parts: (1) order-of-magnitude estimate, (2) feasibility study estimate, and (3) discussion of differences between estimated and actual costs.

Jan 1, 1978

By C. J. Ramsburg

THE construction and operation of by-product coke-oven plants in America are essential to strong national defense and of the greatest importance to many widely diversified undertakings as well as to safety and health. CARBONIZATION PROCESS Coal used under a boiler or in a locomotive is consumed by combustion. Coal used in a by-product oven is distilled or carbonized, meaning that heat is applied to the coal, out of contact with air, causing a distillation that removes the volatile matter in the coal in the form of gas and vapor, leaving coke as a final product. From the gas and vapor distilled from the coal, many valuable substances can be secured, known as by-products. Hence the name "by-product oven." The simplest example of this principle can be shown by means of an ordinary clay pipe. If powdered coal is placed in the bowl of the pipe, the opening of the bowl is plugged with clay, and the bowl placed in a flame, the bowl will become hot, transferring the heat through the wall of the bowl to the coal within. When this coal attains a temperature of about 950°F., gas will begin to pour out of the pipe stem, and this gas may be lighted. A black liquid also will exude from the stem of the pipe. This is tar mixed with certain other products. What remains in the bowl after distillation is coke. A coke oven corresponds to the bowl of the pipe. A modern oven of the latest type is a refractory brick chamber approximately 42 ft. long and 14 ft. high, averaging 18 in. in width. The oven is filled with coal through closable charging holes in the oven top. Each end of the oven consists entirely of a self-sealing door, the removal of which permits the finished coke to be discharged by means of a power-operated pusher machine. The ovens are built in batteries, and the heating is effected by gas burned in vertical flues in the oven walls, each set of flues heating the walls of two adjacent ovens. Such ovens carbonize a charge of approximately 18 tons of coal in 18 hr., or have a daily throughput of 24 tons per oven, producing about I 7 tons of coke. In times of need, the output may be increased by raising the temperature of flues, thus shortening the coking time. There is one great essential difference in principle between distillation in a clay pipe and in a coke oven. In the 18-in. oven, the distillation proceeds from two parallel walls held at a high temperature (over 2000°F.) and instead of all the coal being heated at once, the distillation is a progressive one creeping inward. The average travel of this heating is 1/2 in. per hour from each vertical wall, and as the volatile products are formed progressively they must push away from the interior toward the wall through the previously formed hot coke, then up the walls and over the top of the coal charge, finally escaping through the outlet pipe. This results in a cracking of the components into many different and valuable substances not formed when the carbonizing temperature is low.

Jan 1, 1942

By Norman P. Goss

The Chairman.—Thank YOU, Mr. Goss Gentlemen, I believe we have heard one of the finest papers, especially since Mr. Goss has been very generous in his frank discussion of continuous casting. One point he has brought out which 1 think some of us have not thought through to the same extent that he has—that the continuous casting process offers the small producer an opportunity to compete with the larger, more conventional and presumably better established industries. The meeting is now open for discussion. Are there any questions concerning the first two papers? J. A. Malone.*—I should like to ask Mr. Goss whether there is any special problem involved in the first part, the upper part of the mold before he gets to the first graphite lubricant area. N. P. Goss.—You mean in the forming chamber where chilling first takes place? J. A. Malone.—Yes. N. P. Goss.—So far I have not had any trouble in this part of the setup. My only

Jan 1, 1945

By M. Kaufman, D. Rosenthal

IT would be of great importance to our understanding of the phenomena of fracture in metals if a unique relationship could be established between stress and some easily measurable parameter of deformation up to the fracture. It is known that no such relationshir, has been found when the parameter was the mechanically measured strain,' the major part of which is plastic. The present investigation was initiated to determine, among other things, if the X-ray or lattice strain" might be a • For the definition of lattice strain see ref. 2. more suitable parameter. To this end, annealed stress free*' specimens of 61s aluminum alloy were ** Freedom of stress in this particular case means absence of those stresses which can be checked by the technique employed. tested at room temperature and liquid nitrogen temperature (—195OC), by first maintaining the same temperature from the beginning until the end of the test, and then with crossovers from one temperature to the other. Three major factors had to be taken into consideration in designing the specimens and testing equipment. The test setup must allow X-ray pictures to be taken while the specimen is under load (for as much as 2 hr at a given load). Provision must be made for maintaining the test specimen at the temperature of liquid nitrogen as well as at room temperature. In addition, the specimen must be able to rotate to allow the X,ray beam to take in as large a sample of grains as possible, to maintain centering, and to correct for effects of large grains. The final design of the specimen and equipment is shown in Figs. 1 and 2. The specimen and grips are hollow, enabling liquid nitrogen to be poured in through a funnel-container arrangement while the specimen is rotating. The diameter of the specimens at the 2 in. gage section is 5/16 in. with a 3/16 in. diameter hole through the center. A small pilot valve in the lower grip allows a very small stream of liquid nitrogen to escape, thus assuring circulation of the liquid at all times. A low temperature silicone grease-tissue paper packing is used to seal all joints. The specimen is held in the grips by a pin. Spherical socket joints at top and bottom are used to allow for proper alignment. The grips are connected to the thrust bearings by means of plastic couplings to decrease the heat flow. Rotation is accomplished by means of a motor which drives a plastic gear (integral with the lower coupling) through a semiuniversal joint to allow for deforma- tion of the specimen. The torque applied to the specimen is very small. The maximum stress caused by this torque at the highest loads reached was found to be less than 200 psi, The whole unit was mounted in a 10,000 Ib testing machine. An insulation cage was placed around the specimen to cut down air circulation, and consequent frosting of the specimen, and also to reduce radiation and convection heat losses. A narrow window, covered on both sides with a thin plastic materiai allows the X-ray beam to reach the specimen. Thermocouples placed just outside the pilot hole at the lower grip, in the bottom of the funnel container and near the top of the funnel container permitted checks of the

Jan 1, 1955

By AIME AIME

NEW YORKERS look forward to the third week of February as the time of the year when they can count on seeing their friends-from far and near gathered in the city for the four-day annual session of the Institute.., Indeed, the metropolitan district is so large that in engineer who lives in New, Jersey and has his office on the lower end of Manhattan island may easily pass a whole year without seeing an acquaintance who lives in Westchester and has an office near Forty-second Street. If the Institute served no other function than to provide a place where friendship may be renewed, ideas exchanged, and new acquaintances made it would still be worth while. But when about 30 technical sessions at which about 160 papers are read and discussed are compressed into four days the annual meeting is also entitled to high rank as an intensive course of post-graduate instruction in the newest development in mining and metallurgical technology. Last, but not least, it is the occasion of a good time for one and all, even if they do get more than a little behind on sleep before the end of the fourth day. Nine o'clock is the time set on Monday morning for the beginning of registration, but a half-hour before that a number have always 'put in an appearance, and this is fortunate, because by 10 o'clock four sessions had begun, those on mining methods, geophysics, a round table on the valuation of coal, and the session of the Local Section delegates. Three committees of the A. S. T. M. were also in simultaneous session, so the meeting may be fairly said to have started "in high."

Jan 1, 1931

By O. N. Wampler

UNDERGROUND lighting in the zinc mines of the Tri-State district can be separated into four di-visions. 1. Foot of shaft. 2. Pumps, fans. incline hoists and other stationary machinery. 3. Haulage ways. 4. Headings and stopes. One of the main improvements in lighting around the bottom of the shaft is in the use of skidoo flash lights, which have replaced the old electric skidoo bells. These bells were used as signals from the hoisterman to the tub hooker. In the event that a can bumped the side of shaft or a rock spilled from the can when dumping; the hoisterman rang the skidoo bells as a signal for all to leave the vicinity of the shaft bottom on a dead run. These bells were much better than no signal at all, but many of them were often out of order; the worst feature being that when out of order this fact was not immediately indicated. The electric flash-light signals work on the opposite principle and are burning at all times except when the hoisterman breaks the circuit when signaling danger. Therefore should a break or short occur in this arrangement, the shaft bottom is immediately thrown in darkness. Since the reaction from the eye is quicker than from ear, there is a slight saving of time- to the men escaping from the point of danger. Even this brief period of time may save a life. One other, point, to be emphasized, is that all lights near the shaft bottom should be on the signal circuit so that the entire area is momentarily darkened. I. have inspected mines where only one or two lights are used as signals, with the remaining lights around the shaft on another fixed circuit. In this case the flashing of the signal lights is almost drowned out by the stationary lights. These flash signals must be as startling as possible, which can only be done by flash-ing all the lights.

Jan 6, 1928

By William C. Harrigan, William D. Nix

Dynamic measurements of Young's modulus have been made for poly crystalline Ni-W alloys from room temperature to 800°C. The alloys studied range in composition from pure nickel to Ni-10 at. pct W. The results indicate that Young's modulus decreases linearly with temperature above the Curie temperature. The rate of change of Young's Modulus with temperature mas found to range from 104 psi per "C for pure nickel to 0.82 x 104 psi per °C for Mi-10 pct W. At all temperatures the elastic modulus decreases with increcrsing tungsten content up to 1 at. pct W, and increases as the tungsten content is increased above that level. Young's modulus decreases slightly as the carbon content is increased from 0.002 to 0.09 wt pct C THE knowledge of the elastic modulus of metals and alloys is important for a number of reasons. The first and most obvious reason comes from the need to predict elastic deflections under given loading conditions. A second and somewhat more subtle reason comes from the fact that the elastic properties of an alloy must be known before a proper account of the mechanisms of plastic deformation can be made. This is especially true for high-temperature creep of crystalline solids. Sherby and his coworkers have shown that the high-temperature steady-state creep rates of crystalline solids are inversely related to the elastic modulus1,2 and that the temperature dependence of the elastic modulus must be taken into account if reliable determinations of the activation energy for creep are to be made. In addition, measurements of the elastic constants of solid solutions are needed to allow one to assess the modulus interaction contribution to solid-solution Strengthening.3-5 Pelloux and Grant6 have demonstrated that substantial solid-solution strengthening at room temperature and elevated temperatures occurs when refractory metal solute atoms are added to nickel. While the high-temperature elastic properties of pure nickel have been measured by a number of authors,7-10 the elastic properties of nickel-based refractory metal alloys have not been determined. The purpose of this paper is to report on measurements of Young's modulus of polycrystalline Ni-W alloys at elevated temperatures. It is expected that these measurements will be valuable to studies of the mechanical properties of nickel-based refractory metal solid solutions. I) EXPERIMENTAL Young's moduli of polycrystalline samples were determined by a dynamic method in order to reduce high- temperature anelastic and plastic relaxations. The samples were forced in transverse free-free vibration; that is, both ends of the sample were unrestrained and the vibration was transverse to the long axis. The fundamental resonant frequency was determined by the Forster method.11 The analysis of this type of vibration which was formulated by Rayleigh,12 Timo-chenko,13 and pickett,14 and reviewed by Fine," leads where fn is the resonant frequency of the nth mode, r is the radius of the circular cross section. L is the specimen length, ßn is 1.5056 for free-free vibration in the fundamental mode of vibration, 6 is the mass density, and E is Young's modulus in the axial direction. This equation can be transformed into: E = 9.17605 x 10-6(L/D)E/Lf2 [2] where E is Young's modulus in psi, L is the length in inches, d is the diameter in inches, W is the weight in grams, and f is the resonance frequency in cps. Eq. [2] was further modified in order to take account of the thermal expansion of the samples. The resulting correct term is: where the thermal expansion coefficients for nickel and tungsten, respectively. Xw is the atom fraction of tungsten in the sample and T is the temperature in "C. The treatment of the thermal expansion coefficient as a linear function of composition seems sufficiently accurate since an error of 25 pct in the expansion coefficient will result in only a 0.3 pct error in the modulus at 1000°C. A) Apparatus. The equipment for this investigation has been described by Lytton et al.16 Several modifications of the equipment have been made. The most significant change involved replacing the detector crystal transducer with a magnetic transducer. A phonographic magnetic transducer was employed as a sensing device since the contact pressure necessary to produce a stable signal is much less than that for a crystal transducer. This magnetic transducer is also not affected by conditions of high temperature and vacuum which are present in these experiments. The vacuum was 10-5 torr at room temperature and about 5 x 10-4 torr at 900°C. This was sufficient to prevent surface contamination of the samples during the tests. The samples were heated in an elliptical furnace with a quartz lamp at one focal line and the sample at the other, as described by Lytton et a1.16 The temperature of the sample was measured by monitoring the

Jan 1, 1969

By T. I. Harkins, J. Brian Eby

This paper outlines the geophysical investigation of the area covering the D arrow salt dome, Louisiana. Surveys with the refraction seismograph and torsion balance failed to disclose the dome, but reflection dip shooting was successful and was confirmed by later drilling. Introduction The D arrow salt dome and oil field lies in western Ascension Parish, Louisiana, on the outside of a sharp bend and on the east bank of the Mississippi River. The dome occurs about 30 miles south of Baton Rouge and 80 miles northwest of New Orleans. Its geology, shape and structure have been ably described in detail by Carroll E. Cook' and, except for the general features, will not be repeated here. The purpose of this paper is to record some of the interesting and pertinent geophysical data contributing to the discovery of the dome and eventually the oil field. The salt dome is circular in outliie and comes to within about 4625 it. of the surface. At this depth the diameter of the salt plug is approximately 4800 it. The dome has only a thin cap rock of less than 75 ft. Some oil has been found and is being produced in Miocene sands above the cap rock, but most of the field's production comes from a narrow ring of wells around the east and south flanks of the dome. Producing horizons on the flank are found at 5670 to 5840 ft. in the Miocene and 6890 to 6985 ft., 7028 to 7060 ft. and 8260 to 8270 ft. in the Oligocene. The deepest well that has been drilled is the Humble Oil and Refining Company's Community B-5, on the south flank of the structure, which reached a depth of 10,013 feet. The size and shape of the field and the area of production are indicated on Fig. I. The lie showing the area of production encloses all wells now producing and all abandoned producers, both on the top and flank of the dome. This line of production is shown on all subsequent geophysical maps as a direct means of comparing the early geophysics to later drilling development. Darrow dome occurs on the low, flat flood plain of the Mississippi River; it is protected from flood overflow by high artificial levees. The rich loamy soil supports a high degree of cultivation, principally sugar cane. Drainage is secured by many small canals and the water table of the area is at or near the surface. These particular conditions of topography, drainage and top soil greatly influenced the early geophysical picture, and the influence was always unfavorable.

Jan 1, 1946

By J. Brian Eby, T. I. Harkins

This paper outlines the geophysical investigation of the area covering the D arrow salt dome, Louisiana. Surveys with the refraction seismograph and torsion balance failed to disclose the dome, but reflection dip shooting was successful and was confirmed by later drilling. Introduction The D arrow salt dome and oil field lies in western Ascension Parish, Louisiana, on the outside of a sharp bend and on the east bank of the Mississippi River. The dome occurs about 30 miles south of Baton Rouge and 80 miles northwest of New Orleans. Its geology, shape and structure have been ably described in detail by Carroll E. Cook' and, except for the general features, will not be repeated here. The purpose of this paper is to record some of the interesting and pertinent geophysical data contributing to the discovery of the dome and eventually the oil field. The salt dome is circular in outliie and comes to within about 4625 it. of the surface. At this depth the diameter of the salt plug is approximately 4800 it. The dome has only a thin cap rock of less than 75 ft. Some oil has been found and is being produced in Miocene sands above the cap rock, but most of the field's production comes from a narrow ring of wells around the east and south flanks of the dome. Producing horizons on the flank are found at 5670 to 5840 ft. in the Miocene and 6890 to 6985 ft., 7028 to 7060 ft. and 8260 to 8270 ft. in the Oligocene. The deepest well that has been drilled is the Humble Oil and Refining Company's Community B-5, on the south flank of the structure, which reached a depth of 10,013 feet. The size and shape of the field and the area of production are indicated on Fig. I. The lie showing the area of production encloses all wells now producing and all abandoned producers, both on the top and flank of the dome. This line of production is shown on all subsequent geophysical maps as a direct means of comparing the early geophysics to later drilling development. Darrow dome occurs on the low, flat flood plain of the Mississippi River; it is protected from flood overflow by high artificial levees. The rich loamy soil supports a high degree of cultivation, principally sugar cane. Drainage is secured by many small canals and the water table of the area is at or near the surface. These particular conditions of topography, drainage and top soil greatly influenced the early geophysical picture, and the influence was always unfavorable.

Jan 1, 1946

By AIME AIME

AT the meeting on Engineering Education on Mon- A day afternoon E. A. Holbrook, of the University of Pittsburgh and chairman of the Committee, presided as chairman with W. B. Plank acting as vice- chairman. About sixty members of the educational fraternity were present. Dean Holbrook, after a few introductory remarks, introduced the first speaker of the afternoon, Charles Y. Clayton, who then presented his paper, "Why Do So Few Elect Metallurgy?" in which he stressed the fact that ,one of the things the study of metallurgy ,now needs is publicity and public education on what metallurgy is and 'does. Another thing he brought out is that the study of metallurgy has been looked on for many years merely as a branch of other departments. He gave tables showing past and present enrollment in the course of metallurgy in various schools.

Jan 1, 1930

By W. L. Saunders

THE world's greatest producing area is, geographically, in the midland region of North America about the Great Lakes. This area, with but one- third of the nation's population, produces, with the exception of tobacco and cotton, three-quarters of the principal staples. It provides the surplus or export grain, meats, dairy products, steel and leading minerals. The social and political condition of a nation is determined by its industrial efficiency, and the share of the commerce of the world obtained by a nation is fixed more by the economy of its transportation than by any other factor. It is an economic maxim that: The total cost is the cost of production plus transportation cost. The cost of carrying 1000 tons by water or 100 tons by rail is equal, over the same distance

Jan 1, 1921

By William J. Priestley

Much time has been devoted, by metallurgists, to the study of steel after solidification and remarkable strides have been made in the heat treatment of steel, but less knowledge is available of the thermophysical activity of the constituents of steel prior to solidification in the mold. It is known that certain elements added to steel produce marked changes in physical properties, also that other elements added to steel produce similar changes, but we have only meager knowledge as 'to. how these elements combine in steel under different conditions of solidification. It is not sufficient to know, from chemical analysis, that a certain element is present in steel. We should know how this element is in combination with the other elements and whether the combination is such as will give the greatest physical properties. Certain elements go into solid solution with the iron, while others segregate to the grain boundaries and combine with the impurities collected there. Until it is known where an alloy produces the most beneficial effect and a means is determined for controlling its physical location by altering solidification conditions, or otherwise, we will not obtain the maximum value from our alloys. When molten steel freezes, it forms a heterogeneous mass of various crystalline constituents; and as the transformation of steel from a liquid state to the solid crystallized state is a critical step, involving as great a transfer of heat as any other operation in the making of finished steel, a variation in the rate of this heat transfer will have much to do with the arrangement of the various constituents in the solid state. The object of this paper is to show some of the effects on steel caused by variations in the rate of cooling in the ingot mold, particularly as to ingotism, segregation, dendrites, and intergranular material.

Jan 1, 1924

By E. S. Leaver

The authors of the paper above mentioned have sent the following statement to correct erroneous com-ments and implications in their article with the re-quest that it be published: "In the above mentioned article the reference to Bendelari jigs is used in the generic sense as applying to the mechanically driven diaphragm jigs. No attempt was made to dif-ferentiate between the various machines as installed on different dredges. The Natomas Company use a jig of their own manufacture. The Yuba Company installed the Placer jig as manufactured by the Pan American Engineer-ing Company. "The Pan American Engineering Company also manufactures the Crangle jig under their own name. This is a diaphragm jig in which the pulsations are produced by intermittent flow of water through the patent Crangle Valve and it has no driving mechanism."

Jan 1, 1937

By Earl Oliver

IN times like these, the A. I. M. E. and similar societies have their greatest usefulness. . . . Individuals and companies acting alone in the development of public opinion are merely voices crying in the wilderness. United and organized they make a great force that can and does influence public action. . . . What part, if any, then, shall the A. I. M. E. take in these great stabilization processes of civilization? Shall it help to give direction and force to scientific knowledge which comes within its field of activity or shall it merely develop more of it? . . . Is it the A. I. M. E.'s function to help bring system, order and direction out of this situation so that the world can again have forward economic movement, or should it rest on its oars until other agenciess develop that public understanding and direction so necessary for economic progress? As we understand the functions of the A. I. M. E. Petro¬leum Division, they are to discover and promote knowl¬edge for the benefit of society on the mining of oil and gas. To the individual member of the Petroleum Division, there are certain advantages of social and professional contacts, but the collective purpose is that described. And the individual is benefited by membership only as the Division measures up to the purposes of its existence. Consequently, the welfare of this Division and that of its members depends on the extent to which it keeps pace with the needs of society on matters relating to the mining of oil and gas.

Jan 1, 1932

By T. M. Girdler

INDUSTRIAL progress and development in this country from the earliest daps to the present has proceeded at an ever-quickening pace. Yet during recent decades the nature of our industrial progress and development has undergone a change of great significance. The earlier days were a period of tremendous expansion. Population was increasing by leaps and bounds. Vast areas of new land were being .2 opened to settlement. And almost boundless new sources of timber, coal, oil, ores, and power were being opened to ever-expanding markets. Today, however, that picture has al- most completely changed. Today, with population increase tapered way off and the opportunity for free expansion into western frontiers gone, the great industrial development of our country continues on a vastly different front. Industrial progress and development today rest on a foundation of technology. The key- stone is research. Our frontiers to- day are frontiers of sciencec

Jan 1, 1939

By T. A. Rickard

Do not write until you have something to say. Think first; then write. In order to be understood, you must know what you wish to say. Clear writing is the consequence of clear thinking. Therefore consider your subject well before you begin to write; ruminate on it; marshal the salient facts in your mind; saturate yourself with the ideas you wish to express and with cognate ideas; then express yourself deliberately. If you are bubbling over with your subject the words will come, but you might as well expect to sail without a breeze as hope to give life to words without the living thought. Here I may advert to the fact that among the uneducated it is a common expectation to acquire the knack of writing without taking the trouble to study the art of literature. I overheard a woman in a suburban train remark to her neighbor: "I'd like to be able to write well without stopping to think about it". She was one of many that would like to do a thing well without the trouble of thinking; but it cannot be done in respect of anything to which thought is essential. The possession of a good voice does not justify a person in expecting to sing successfully to a large audience; before singing in public one has to master the technique of singing; one has to learn first how to breathe properly, how to enunciate, and many other things. The successful singer is an artist, not a megaphone. Most of us would regard a man or a woman without any training in the art of singing as a fool or an impostor if he or she were to give a public concert, yet we do not recognize the equal foolishness and imposture of persons that write books before they have studied the technique of writing. That is why so many books are unreadable, and why many books by clever men are difficult to read. They start to write books before

Jan 1, 1931

By AIME AIME

THOUGH the Annual Meeting of the Institute-officially numbered 158 on the records was delayed a bit at the start by low steam pressure on the locomotives bringing members to New York, the crowd that finally arrived more than lived up to expectations, and the technical program had few difficulties because of absent authors or lack of competent discussers. The transportation difficulties were occasioned by the fact that Monday, Feb. 15, was the third coldest day in the 72 year history of the New York Weather Bureau, the official temperature being 8 below zero. The New York Central's premier train, the 20th Century, due at 9:30 a.m., arrived about 6:30 p.m., and the Commodore, another crack train from Chicago, was about equally late.

Jan 1, 1943

By Herbert Hoover

THERE is one problem of the new administration that has received the attention and thought of the organized engineers of America for many years past. This is the problem of the reorganization of the Federal Government. The, inadequacy, the wastefulness, and the inefficiency of our federal organization was evident, enough under pre-war conditions. These inadequacies, these inefficiencies, these wastes were exhibited to the country during the war at the cost of millions. Congress has placed the problem in the hands of a very able Congressional Joint Committee, but if this Joint Committee succeeds in securing the imminently necessary results it will only be by full insistent support to it by public opinion. Many attempts have been made at reorganization before but all, of them have gone to the same crematory-the interminable differences in opinion among the executive and legislative officials over details.

Jan 1, 1921

By Carl F. Floe, Hung Liang, Michael B. Bever

DATA on the solubility of hydrogen in iron-silicon alloys are of practical interest, as hydrogen causes gas unsoundness and embrittlement in iron and steel and is also a factor in the metallurgy of cast iron. Zapffe and Sims1 have recently demonstrated that in deoxidized iron and steel castings gassiness and bleeding are primarily functions of the hydrogen content of the liquid metal. These authors also suggested convincingly that ordinary melting and casting practice provides several sources of hydrogen for absorption by the metal. Norbury and Morgan,2 and Boyles3 have shown that dissolved hydrogen affects the graphitization of cast iron. Schneble and Chipman4 included in a study of the effects of superheating on the properties of cast iron an investigation of the part played by hydrogen. Schwartz, Guiler and Barnett6 investigated the significance of hydrogen in the metallurgy of malleable cast iron. A complete interpretation of investigations of this kind calls for equilibrium values of the solubility of hydrogen in the liquid and solid phases. From the theoretical standpoint, the solubility of gases, especially hydrogen, may reveal some aspects of the nature of liquid metallic solutions. This was implied in the early work of Sieverts6 on the effect of alloying additions on the solubility of hydrogen in copper. Recent work by Bever and Floe7 has shown that in liquid copper-tin alloys the solubility of hydrogen changes abruptly at the composition of the intermetallic compound Cu3Sn. It is of considerable interest to determine whether liquid alloys of iron also have compositions at which the solubility of hydrogen exhibits a discontinuous or otherwise unique behavior. Among the various alloys of iron the iron-silicon system is important because of the presence of silicon in various structural alloy steels, transformer sheets, cast irons and special acid-resisting castings. The various grades of ferrosilicon, finally, cover almost the entire remainder of the composition range. Published information on the solubility of hydrogen in iron-silicon alloys is meager. The first values for pure liquid - iron were reported in 1910-1911 by Sieverts and Krumbhaar8 and by Sieverts.9 They found that 100 grams of iron absorbs 28 C.C. of hydrogen at 1550°C. and one atmosphere pressure, and 31 C.C. at 1650°C. In 1938 Sieverts, Zapf and Moritz10 published a value of 26.3 c.c. at 1550°C. Data on the solubility of hydrogen in liquid iron-silicon alloys and in liquid silicon

Jan 1, 1946

By Norman D. Fitzgerald

The purpose of this paper is to analyze the behavior of oil securities during the six-year period January 1932 through December 1937. This period was selected because of its varied character. It includes the depths of the depression, the broad and spasmodic recovery, and the recession collapse. The first part of the analysis is devoted to the correlation of a number of economic factors with an index of 13 oil stocks. The second part is a comparison of the different,ial behavior of 6 oil stocks. The relationships developed here are only a few of many that might be considered in a complete analysis. The stock market is regarded as a barometer of business confidence and as such exerts an important influence upon corporate policies, particularly upon industrial expansion. The complex and continuously changing nature of its price structure, the ebb and flow of influences and the effects of impacts require dynamic rather than static analysis. When treated in this way, many of the important fluctuations in market prices and changes in the relationships between securities appear quite logical. The market for oil securities has varied widely in recent years. The Standard Statistics index of 13 oil stocks made a bull market peak of 166.7 in September 1929. The collapse of the boom and the ensuing bear market finally carried the index down to a low of 36.4 in June 1932. From this point oil stocks made an irregular recovery; they reached a top at 139.7 in March 1937, and after maintaining this approximate level through August, declined precipitously to 93.3 in December 1937. The prices of these 13 oil stocks have gone up and down under the influence of numberless variables. These variables are of two kinds, those external to the industry, and those that are solely due to its internal condition. The external factors are political, social, and economic, both domestic and foreign. These are the influences that induce the ebb and flow of all prices in general and security prices in particular. Among the internal factors are the regulation of industry, the development of new reserves and processes, and the disequilibrium due to lack of balance between supply and demand. Some of the simpler relationships are examined in this paper.

Jan 1, 1938