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By C. Richard Tinsley

INTRODUCTION Documentary complications arise from the risk apportionment in project financing which generally means that once the project is up and running and has satisfied the lender's completion test, the loan agreement specifically limits the lender's recourse to the project and its assets. It is the purpose of this paper to describe the special considerations which apply to industrial minerals projects and explore the reasons why so few project financings are negotiated in this industry. SIZE Small projects do not warrant the relatively high costs of negotiating and documenting project financing. The extent of the documentation is directly proportionate to either (a) the degree of risk apportionment, or (b) the amount of control given to lawyers to negotiate the documents. Although one would like to believe that project-finance documentation could be off-the-shelf, it is almost always necessary to tailor the documents to the mine development itself and the individual desires of the borrower. Accordingly, the documentation costs and initial expenses are seldom less than $40,000, and for complex projects can reach $400,000. In addition, banks often charge an up-front fee to partly compensate them for their staff time and partly to increase their yield on what is deemed to be a "riskier" loan asset. Another factor is the generally lower debt:equity ratio when bankers are uncertain of the accuracy of the cash flow projections. The ratio of the amount of cash flow left over after debt service to debt service itself is a key tool for project finance (debt service coverage). Bankers will require a higher coverage ratio for industrial minerals projects because of the relatively higher uncertainties in the following categories: Prices Markets Geology/Quality Transportation Environmental This, in turn, means that lower debt:equity ratios are the norm for new industrial minerals projects. INDUSTRY STRUCTURE It is hardly worthwhile to generalise about a field as diverse as industrial minerals, but there are four other structural reasons why project financing has not been widely applied. 1. The most obvious example is the predominance of small-sized operations, largely a function of transportation economics. Geological conditions also contribute to their dispersion. 2. Often, the product is only a small part of a company's business in contrast to many petroleum, metals, or coal companies whose sole business is the production of the raw material. The construction industry is a good example here for cement, gypsum, crushed stone, sand and gravel, and the drilling-mud services business for barite and bentonite. A company is unlikely to jeopardise its main business through the failure of a project financing on one of its key inputs. The corrollary is that the mined input is often regarded as a cost centre and not run on the sort of economic basis suitable for project financing. 3. There may be a reluctance to reveal key aspects of an industrial minerals venture to an outsider for purely competitive reasons. Unlike the other minerals industries which readily share technical information at plant visits and

Jan 1, 1985

By C. V. Millikan

THE year 1930 in the petroleum industry has been characterized by the establishment of large potential production of crude oil. This has resulted in closer cooperation between companies by proration and unit operation agreements in order to afford an equitable outlet to all, and to prevent a flood of oil being forced on the market with attendant tremendous material and economic waste. Drilling wells in proved areas and wildcat wells are fewer than in the past several years. Restricted production and low prices have caused greater effort to increase producing and recovery efficiencies. Increased refinery efficiencies have amplified the effect of overproduction. Pipe line departments have been especially busy. New oil lines have reached more refineries by new and shorter routes. Establishing greater gas reserves by new fields has justified new gas lines to industrial centers, and has brought this fuel to thousands of new domestic consumers. Two long gasoline lines, a new venture in pipe lines, are being built to obtain a lower cost of transportation and less loss between the refineries and their distribution centers. The chairmen of the various divisions have discussed the developments of their respective branches more fully in the following reviews.

Jan 1, 1931

A price list of publications of the Geological Survey, complete to May, 1931, and with separate monthly notices of publications to (late, will be sent upon application to The Director, United States Geological Survey, Washington, D. C. A leaflet is issued each month listing new publications; it will be sent upon application to the Director, as well as Circulars containing information about topographic maps. Book publications of the Survey include (1) Annual Reports, (2) Monographs, (3) Professional Papers, (4) Bulletins, (5) Water Supply Papers, (6) chapters and volumes of Mineral Resources of the United States, (7) Folios of the Geologic Atlas of the United States and the World Atlas of Commercial Geology, (8) Topographic Folios and Topographic Maps that bear descriptive texts. Monographs, Folios of the Geologic Atlas of the United States and the World Atlas of Commercial Geology, and Topographic Folios and Topographic Maps, are not distributed free. A publication of one of the other classes can be distributed free only until the end of the fiscal year following that in which it was issued. No person can obtain more than one free copy of the same publication, and general requests for free publications, such as all of any series or all on any subject, can not be granted. In ordering publications one is requested to give both the series designation, as Bulletin 738 or Professional Paper 122, and the title. Give full address, plainly written, including county. Prepayment is required and may he made by postal, or express money order payable to the official charged with the sale of the publications. requested, as indicated in the discussion of each classification following; or it may be made in cash-exact amount -at sender's risk. Postage stamps are not accepted in payment for publications.

Jan 1, 1933

By R. S. Archer

SILICON is one of the most important elements in the metallurgy of aluminum. It is always present in small amounts in the ordinary grades of "pure" aluminum, and hence in all alloys made therefrom. Within the last few years binary alloys containing up to 13. per cent, of silicon have come into extensive use for castings. Silicon is also added, beyond the amount present as an impurity, in alloys containing one or more other elements such as copper, manganese, magnesium and nickel. The binary aluminum-silicon alloys are not yet heat treated to any extent in commercial practice, although, as will be shown, their properties are affected to a very considerable degree by heat treatment. There are other aluminum alloys that develop higher strength, but the special characteristics of the silicon alloys may well lead to the application of heat-treating processes on a commercial scale. The role of silicon in the heat treatment of aluminum alloys is more important than would be indicated by consideration of the binary alloys alone, because many of the alloys that are heat treated in regular commercial practice contain some silicon in addition to that derived from the aluminum ingot as an impurity. Among these may be mentioned the heat-treated 195 alloy castings, and the wrought alloys 258, Special 178 and 51S of the Aluminum Co. of America, and the German wrought alloy, Lautal. It is the purpose of this paper to present the results of experimental work and the conclusions derived therefrom regarding the heat treatment of the binary aluminum-silicon alloys. The products heat treated included forgings, chill castings and both "normal" and "modified" sand castings.

Jan 1, 1927

By G. F. Comstock

In the literature of metallography there is a large amount of material describing the various non-metallic inclusions found in iron and steel, and the appearance of sulfides, silicates, oxides, or alumina in steel under the microscope is fairly well known. The inclusions found in non-ferrous metals are, however, not so well known, at least judging from published writings, and the author has been interested in examining small castings of copper, brass, or bronze with certain inclusions purposely mixed with the metal, to see what was the characteristic appearance of each kind of inclusion, and if they could be readily distinguished from one another. The method employed in most cases consisted in overheating and oxidizing a small charge of copper, then cooling it somewhat, and adding a suitable amount of the element whose oxide it was desired to observe. This element was stirred in well and given time to react with the oxygen in the copper, then the melt was poured in a sand mold in the form of a cylinder about 21/2 in. (63 mm.) in each dimension, with a sprue about 11/2 in. (38 mm.) in diameter and 3 in. (76 mm.) high on top of the cylinder, the sprue forming the only riser. Samples for examination were cut sometimes from the center of the casting, and sometimes from the sprue or riser. A few of these samples were cast in chill molds. The appearance of sulfides was studied in an alloy containing 10 per cent, each of tin and lead, with which a flux of plaster of Paris was used. The appearance of foundry sand was studied in several alloys, one of them having sand stirred into the metal intentionally, and others having cut into the molds badly when poured, so that the castings were spoiled by included sand. As all this work was done on alloys having copper as the chief ingredient, the natural starting point was copper oxide, the appearance of which in a micro-section is well known. Cuprous oxide is soluble in molten copper, but separates out in freezing and forms a eutectic containing 3.5 per cent. Cu20, or 0.39 per cent. oxygen. If there is less

Jan 1, 1919

By James A. Clem

Approximately 2000 years ago, the Lord admonished the scribes (lawyers) and pharisees (religious leaders of that time) that they had paid the tithe but had omitted the weightier matters of law, judgment, mercy, and faith. (Matt. 23:23) I want to talk about "The Weightier Matters of Law." In a situation where big government is trying to have an effect on even small details of a work activity, otherwise simple situations become complex. Regulations are written to such detail that constant compliance with strict interpretations can be a nightmare-not to mention off the target of the intended purpose for the regulation. One soon recognizes the onerous characteristics of federal statutes. Another admonition the Lord gave those lawyers and pharisees back then was that they tended to strain at a gnat and swallow a camel! He meant that the pharisees were given to devoting themselves to the strict interpretation of law by writing hundreds of subrules or interpretation to law. In doing so they eventually lost sight of the original purpose of the law. I think they were being told, keep the law-but don't neglect to humanize it Keep it simple Recognize the purpose of why the law. "Mix in" a common sense approach. Someone once said, "Common sense is instinct -enough of it is genius." Today, as 2000 years ago, we need more "genius" displayed by legislators in considering the weightier matters of law. First of all true legislature genius calls for a declarative statement about the purpose of the statute and a fair, objective analysis of the ground rules by which it will be implemented. In the Health & Safety Act of 1969, the "findings and purpose" as set forth in Section 2 do define its purpose. I believe most of us affected can be in accord with the reasons advanced for the legislation. However, beyond those well-intentioned few paragraphs, we very quickly run into trouble. Congress complicated the simplicity of the statement of purpose by mandating government intervention into areas that cannot be effectively legislated, nor even should be legislated. The Act provided for broad gaged regulation which is unnecessary, inappropriate, and tremendously costly. Frankly, it detracts from a constructive, cooperative effort by the parties involved. These are strong negatives which characterize inappropriate legislation. Appropriate legislation and subsequent regulation, which is realistically conceived and practically enforced must be born of an honest desire for improvement, based on a working knowledge of common problems which are thoughtfully analyzed. Then the legislation must be written in clear concise language so that there can be little or no doubt as to its literal meaning and intent. To be practically enforced, it must be understood by all who will enforce it and by all who are subject to it. That is to say, an effective law or standard cannot be fixed or inflexible so that it cannot be tempered in human judgment. There must be an elasticity in the statute to provide for consideration of all of the relevant facts of a given situation. Such elasticity makes the compliance effort as meaningful as it can be for the time and dollars invested. Meaningful compliance requires room for common sense. Today, we in business along with our associates in government and labor, urgently need to pause, and assess our current situation. The problems arising from the 1969 Act have been intensified through the Mine Safety & Health Act of 1977. After reading the "findings and purpose" of this legislation, and by process of elimination, we should all clearly see what is and is not the purpose of the Act. 1) It is not to turn the management of private industry over to government. 2) It is not to impair the efficient operation of business. 3) It is not to reduce productivity and profits. 4) It is not to reduce national unemployment. 5) It is not to perpetuate the bureaucracy. 6) It is not to increase the tax burden on an already overburdened people. 7) It is not to increase our balance of payments deficit. 9) It is not to replace management/labor relations in working together to solve problems.

Jan 1, 1981

By Carl F. Floe, Michael B. Bever

ACCELERATED by the demands of war, research and development work in nonferrous physical metallurgy has continued at a rapid pace during the past year. In particular, advances have been made in processing and fabrication, especially of the light alloys, and in the surface treatment of metals. Theoretical physical metallurgy, although less active, has not been neglected and the year has brought forth some -notable contributions to our understanding of the fundamental structure of metals and their behavior in service. Of course, much work that has been done cannot be publicly discussed because of wartime restrictions.

Jan 1, 1945

By R. S. Wagner, W. C. Ellis

A new mechanism of crystal growth involving oapor, liquid, crnd solid phases explains many observations of the effect of implurities in crystal growth from the vapor. The role of the impuuitq is to form a liquid Solution with the crystalline tnalerial to be grown from the vapor. Since the solution is n prefevred site for deposition firorti the uapor, the liquid becorrles supersaturated. Crystal growth occurs by precipitatzon from the supersaturated liquid crt tlie solid-liquid zntevfnce. A crystalline defect, such as a screw dislocation, is not essetztial for VLS (vapor -liquid-solid) growth. The concept of the VLS mechanism is discussed in detail with reference to tire controlled growth of silicon crystals using gold, platinum, palladium, nickel, silver, or copper as an implurity agent. RECENTLY a short communication' described a new concept of crystal growth from the vapor, the VLS mechanism. In this paper we present a detailed description of the process and its application to the growth of silicon crystals and we discuss its relevance to existing concepts of .'whisker" crystal growth. Crystal growth from the vapor is usually explained by a theory proposed by Frank2 and developed in detail by Burton, Cabrera, and Frank.3 In this theory a screw dislocation terminating at the growth surface provides a self-perpetuating step. Accommodation of atoms at the step is energetically favorable, and is possible of much lower supersatu-ration than required for two-dimensional nucleation. Crystals of a unique form resulting from aniso-tropic growth from the vapor are "whisker" or filamentary ones. Such crystals have a lengthwise dimension orders of magnitude larger than those of the cross section. For most filamentary crystals both the fast-growth direction and directions of lateral growth have small Miller indices. The special growth form for a whisker crystal implies that the tip surface of the crystal must be a preferred growth site. sears4 proposed that, according to the Frank theory. a whisker contains a screw dislocation emergent at the growing tip. Such an axial defect provides a preferred growth site and accounts for unidirectional growth. The hypothesis was extended by Price. Vermilyea. and Webb," still implying the presence of a dislocation at the whisker tip. They postulated that impurities arriving at the fast-growing tip face become buried while those arriving on the surface of slow-growing lateral faces accumulate and thereby hinder growth. These considerations led to a whisker morphology. There is increasing evidence that most whisker crystals grown from the vapor are dislocation-free. Webb and his coworkers6 searched for an Eshelby twist7 in zinc? cadmium, iron. copper, silver, and palladium whisker crystals. They found unequivocal evidence for an axial screw dislocation in only one element, palladium. However, not every palladium crystal examined contained a dislocation. Observations with the electron microscope have failed to show dislocations in whisker crystals of zinc, silicon.9 and one morphology of AlN.10 Since many whiskers are completely free of dislocations, an axial dislocation does not appear to be required for whisker growth of many substances. A significant advance in understanding whisker growth has been a recognition of the need for impurities. This requirement has been clearly demonstrated for copper,11 iron,13 and silicon9-1 whiskers. For silicon, detailed studies proved conclusively that certain impurities, for example, nickel or gold, are essential. Another pertinent phenomenon which has received little attention is the presence of a liquid layer or droplets on the surface of some crystals growing from the vapor. Crystals in which this has been observed include p-toluidine,14 MoO3,15 ferrites,16 and silicon carbide.'" The liquid layers or globules were considered to be metastable phases, molecular complexes, or intermediate polymers originating from condensation of the vapor phase. The possibility has been suggested that the halide being reduced is condensed at the tip18 or adsorbed on the surface11 of a growing metal whisker, for example copper. The literature on whiskers discloses illustrations of rounded terminations at the tips. These appear. for example, on crystals of A12O3,19,20 sic,21 and BeO.22 For BeO, Edwards and Happel suggested that during growth of the whisker the rounded termination consisted of molten beryllium enclosed in a solid shell of BeO. A recent paper9 on the growth of silicon whiskers contains many observations pertinent to an understanding of the mechanisnl of whisker growth. These observations are summarized as follows. 1) Silicon whiskers are dislocation-free. 2) Certain impurities are essential for whisker growth. Without such impurities the silicon deposit is in the form of a film or consists of discrete polyhedral crystals.

Jan 1, 1965

"NAME…""Utah"" is derived from the name of the Indian tribe, variously spelled ""Yuta, “Ute"" ""Youta,"" ""Uta,"" ""Eutaw,"" and finally ""Utah."" It means ""in the tops of the mountains,"" or ""on the heights."" The state emblem is the ""Beehive,"" typical of industry. State nickname is ""Beehive State.""AREA…Utah is the tenth state in area. It contains 84,990 square miles, of which 2,806 miles are water. When admitted as a territory in 1850, Utah included all the area from the east line of California to the summit of the Rocky Mountains between the 37th and 42nd parallels, which embraced practically all of the present state of Nevada, all of western Colorado, part of Idaho and part of Wyoming, in addition to the present area of Utah.TOPOGRAPHY…Utah is generally mountainous, with several main ranges and also detached groups of mountains. The valleys are broad and level. The mean altitude of the state is 6,100 feet above sea level, which makes the state the third highest of the Union. The highest point in Utah is King's Peak (13,498) in the Uinta range. The lowest point is Beaverdam Creek (2,000) in Washington county.CLIMATE…The climate is diversified between mild temperate in the northern portion to semitropical in the southern portion. There are four distinct seasons. Snowfall is heavy at the greater altitudes and rare in the southern portion. Rainfall is moderate throughout the state. Extremes of heat and cold are unusual."

Jan 1, 1925

By Merlin H. Aylesworth

THE subject assigned to me is peculiarly appropriate to the anniversary of the birth of Abraham Lincoln. If we applied to our present problems the ideals and methods of the Great Emancipator, the future of American institutions would be so definitely assured that there would be little need to discuss the matter. The only inquiries would relate to the pace of progress, not to the possibility of progress. As a nation we have grown more and more to revere the memory of Lincoln, to honor his character, to extol his teachings and to eulogize his concepts of democracy. We rec-

Jan 1, 1940

By E. Ray Webb

A interest to geologists and to mining and petroleum engineers is a laboratory method for determining the dip and strike of sub- surface structures, as well as the direction of fault planes traversing them. The information is derived by making use of the magnetic properties of borehole cores which must show visible representations of bedding or fault planes. Complete knowledge of these factors aids greatly in the successful exploitation of both ore and petroleum deposits.

Jan 1, 1940

By Games Slayter

NO reasonably well-informed person believes that the role of minerals, both metallic and nonmetallic, will be any less important in the future than it has been in the past. The contrary is true. Industrialization is based on mineral resources and man's ability to make use of them. A nation's standard of living, its political and military power, will continue to depend largely upon the extent to which it is industrialized-and minerals are the raw materials both of the machine and the power to run the machine. Minerals are also the raw materials of human health and stamina. The world's healthiest, most vigorous, and most long-lived peoples have always been those that have lived in regions of the globe where the earth is rich, and kept rich, in the phosphates and other minerals required for the production of the so-called growth foods. Only a small proportion of the land surface of the globe is suitable under any circumstances for large-scale production of these and other essential foods. As things stand, only a part of this land is capable of such production either because the soil minerals have been exhausted by cultivation, or because they never existed in the soil in sufficient quantities.

Jan 1, 1943

Between July 10 and August 15, 1918, the Secretary of United Engineering Society, of Engineering Foundation, and of Engineering Council visited 17 cities which are headquarters for large numbers of engineers. His mission was to tell men in all branches of the profession about "Centralized Activities of National Engineering Societies." Stops were made at Denver, Salt Lake City, Reno, San Francisco, Sacramento, Portland, Seattle, Spokane, Anaconda, Butte, Duluth,

Jan 10, 1918

By A. O. Drysdale

In Canada, the market for cement is not a national one but rather a collection of local or regional markets. Excess capacity on a national basis does not necessarily preclude a shortage on a regional basis. with portland cement selling for less than a cent a pound, the low price-to-weight factor makes transportation to the market a major cost item and thus a small plant can be justified to serve a limited regional market. The Brookfield plant of the Canada Cement Co. is designed to supply the Province of Nova Scotia, a regional market that shows promise of growing to a point where it will support a one-kiln plant. The market is presently being served by boat shipments from the Canada Cement Co. plant at Montreal East, Quebec, and from the North Star Cement Ltd. plant at Corner Brook, Newfoundland, and by rail and road shipments from the Canada Cement Co. plant at Havelock, N. B.

Jan 4, 1965

By AIME AIME

THE STANDARD herewith submitted is the result of several years of research and consideration by the A.I.M.E. Technical Committee on Milling Methods. In the early work of this committee it was found necessary to undertake the development of a standard laboratory method for screen testing of ores. During the research stages the desirability of having this standard, when completed, approved as American Standard was brought out. In accordance with this idea, its initiation as a project of the American Standards Association (then the American Engineering Standards Committee) was approved by the latter body and the A.I.M.E. designated as sponsor. In 1929, the A.S.A., on recommendations of its advisory committee, the Mining Standardization Correlating Committee), authorized the A.I.M.E. to be sole sponsor for this project. The personnel of the Institute's Committee on Milling Methods was then increased to make it thoroughly representative of all diversified interests in the mining field. Two years ago the standard was circulated and has been given wide distribution. Early in 1932 the committee voted unanimously, with 38 affirmative votes, that the standard be recommended to the Board of Directors of the Institute for submission to the American Standards Association for approval as American Recommended Practice. This was accordingly done, at the Feb. 1.6, 1932, meeting of the directors, and the American Standards Association approved the standard on July 6; 1.932, designating it as ASA M5-1932.

Jan 1, 1932

By William J. Robinson

What is the cumulative rate of recovery of copper from a sulfide leach dump? The technical answers to this frequently asked question may vary from "I don't know" to "quite good" from people of the same company. Management also poses this question because it plays a vital role in planning future production. The answer is difficult because of the many variables between different operations such as physical construction of the dump, topography of the original site, characteristics of dump material, mineralization, and water application. Each of these factors and others have a bearing on the rate of recovery. Anaconda's method of water distribution at Butte is unique in that each dump is drilled to allow physical injection of water into the dump. The injection holes are drilled vertically on 25-ft centers from the surface of the dump [(Figs. 1 and 2)]. Normally, the holes are drilled 40 ft deep and cased with 4-in. PVC perforated pipe. The pipe is perforated at 1-ft intervals with four 1 -in.-diam holes at 90° spacing on the pipe circumference. Formerly, shallow holes (20-40 ft) were alternated with deep holes (80-180 ft) in an effort to cover the entire dump and hasten oxidation. The shallow hole depth varied according to the compaction thickness. The deep hole depth varied according to the height of the dump and the original ground profile. It is preferable to have the deep holes end 20-30 ft above the original ground level. This generally allows penetration of the coarse material at the bottom of the dump. Deep holes had to be discontinued in order to cover more

Jan 1, 1974

By S. M. Shelton

SINCE the Saar started. the real progress in scrap-metal recover is in the change of point of view regarding secondary metals. The tendency had been to regard scrap as the normal outgrowth of obsolescence, fluctuating somewhat from periods of depression to periods of prosperity. but nevertheless an unwieldy economic factor more to be contended with than embraced. Now, metals above the ground are being looked upon as semi-permanent reserves or stock piles in various stages of repeated use or revolving life cycles. The change in point of view is due to the forced realization that domestic supplies of new metals are limited and many foreign sources are at least temporarily closed. The stock piles must be cultivated. The reserves must be made more nearly permanent. Steps are being taken : (1) develop methods for recovery of scrap metals heretofore not recovered, and (2) restrict strategic metals to uses ensuring a large percentage of re-use, which in turn means substitute materials in the dissipative uses.

Jan 1, 1942

By Webster, Wm. Reuben

THE greatly enlarged demand for small sizes of seamless copper tube which has recently occurred, due particularly to the rapid growth of the electric household-refrigerator industry, has emphasized the superiority of phosphorized to tough pitch copper for the purpose of producing this commodity. In the manufacture of this material exceedingly heavy reductions by cold drawing are employed, customary practice involving as much as 90 per cent. reduction of cross-sectional area in four runs without intermediate annealing. Although this superiority has long been recognized by tube makers, no quantitative expression of it has heretofore been published. It is believed that the data herewith presented mill serve this purpose. Recent investigators are not in agreement as to the relative mechanical properties of copper containing small amounts of oxygen as compared with copper containing sufficient oxygen to produce that condition known as tough pitch. Hanson, Marryat and Ford1 found that "oxygen has a relatively small effect on the properties of copper." Johnson, on the contrary, states "it cannot be denied that it (tough pitch copper) is inferior to deoxidized copper . . . where severe mechanical manipulation is concerned." These authorities in the reports of their investigations, as might be expected from their conclusions, do not present data of a character requisite to a conclusive determination of the question.

Jan 1, 1927

By Donald B. Gillies

THE great source of iron ore for the furnaces of this country has been the Lake Superior district. Ore was first discovered there in 1844, and the first shipments made via the Great Lakes in 1852 to a furnace at New Castle, Pa. The stream of ore from that region increased slowly to exceed a million tons in 1873, and did not reach 10 million tons until 1895. By 1901 it exceeded 20 million tons, and in 1907 over 40 million tons. Total Lake Superior output through 1948 was about 2500 million long tons. Outside the Lake Superior district are the Southern district, including mainly Alabama, Georgia, Missouri, and Texas; the Eastern district of New York, New Jersey, and Pennsylvania; the Western district embracing Wyoming, Utah, and California.

Jan 1, 1949

By Walter Miller

ALTHOUGH confident of its ability to meet any demands which may be made, the petroleum refining industry is not complacent about the situation and realizes that the quantities of petroleum products to be furnished are so enormous and so far beyond what was previously estimated that the full co-operative effort of the industry must be exerted. Establishment by the President in May of the Office of Petroleum Coordinator for Defense with Secretary of the Interior Ickes at its head, plus the formation of the Petroleum Industry Council for Defense, in November, provide the channels for united endeavor within the industry and the means for gearing that endeavor within the industry and the means for gearing that endeavor in full harmony with the nation?s needs. Great strides have been made and a rapid understanding of the situation and the magnitude of the task is being attained by all concerned.

Jan 1, 1942