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By John J. McCabe

INTRODUCTION Over the years, Congress has written into the Internal Revenue Code various provisions aimed at lessening at least one financial burden faced by taxpayers in the mining industry - the federal income tax burden. These provisions include the election to deduct exploration expenses, the election to defer deduction of development expenses, and the percentage depletion deduction. Careful tax planning from the very beginning of a mining venture is essential in taking maximum advantage of these tax benefits. A major decision to be made is the choice of organizational structure. (For a more detailed discussion of this subject, see McCabe, John J., "Developing Structures for Investments in Mineral Property," New York University Institute on Federal Taxation, 42 NYU 24, 1984). One such structure is the use of multiple corporations, with mining activities conducted by one corporation and nonmining activities, such as manufacturing, financing and administration, conducted by the other corporation. This technique, which will be discussed in detail below, can be particularly advantageous in delaying recapture of previously deducted exploration expenses and in maximizing depletion deductions. TAX BENEFITS IN MINING Exploration Subject to certain restrictions discussed below, exploration expenditures (i.e., expenditures paid or incurred during the taxable year for the purpose of ascertaining the existence, location, extent, or quality of any deposit of ore or other mineral, and paid or incurred before the beginning of the development state of the mine are deductible at the election of the taxpayer (Section 617(a)).* Were it not for this option, exploration expenditures would be required to be capitalized and recovered through depletion, after production begins. Exploration of a mineral deposit can be very costly and may not result in commercial production for some time. If the taxpayer has income to he offset by the deductions, a mining venture can usually be structured in such a way as to allow the offset of mining losses against the other income. With today's high interest rates, this election can be quite valuable in present value terms. Corporate and noncorporate taxpayers are subject to different restrictions on this tax benefit. Corporations may elect to deduct only 85 percent of eligible exploration expenditures (Section 291(b)). (The Tax Reform Act of 1984 reduced this to 80 percent effective for expenditures after December 31, 1984, in taxable years ending after such date). The remaining 15 percent (20 percent after December 31, 1984) is capitalized and recovered at the same rate as five-year ACRS property (Section 291(b)). Individual taxpayers are not subject to this 85 percent rule; however, any amount deducted in excess of ten-year straightline amortization is a tax preference item for individuals (Section 57(a)(5)). Individuals may avoid the tax preference by electing to capitalize exploration expenditures and amortize them over ten years (Section 58(i)). In order to prevent the taxpayer from, in effect, converting ordinary income into capital gain by selling property that has given rise to exploration expense deductions, the Code requires recapture of such deductions upon the occurrence of certain events (Section 617): 1. Upon disposition of the property, adjusted exploration expenditures are recaptured to the extent of gain realized on the disposition (Section 617(d)). 2. If the property is leased, the lessor is disallowed any depletion deduction until his adjusted exploration expenditures have been recaptured in the form of foregone depletion deductions (Section 617(c)).

Jan 1, 1985

By Harold S. Morgan

INTRODUCTION The Waste Isolation Pilot Plant (WIPP) is being developed in southeastern New Mexico by the United States Department of Energy as a research and development (R&D) facility to demonstrate the safe disposal in salt of radioactive wastes resulting from defense activities. As part of the WIPP R&D program, a series of in situ tests will be performed to determine the behavior of drifts and storage rooms in the creeping salt medium (Matalucci, et al. 1982). Data obtained in these tests will be used to evaluate and improve numerical models used to compute the structural response of these drifts and rooms. Stress has been proposed as one of the parameters to be measured in the tests, and borehole inclusion stressmeters have been included in the instrumentation package. Cages of this type provide an indirect measurement of stress change in that they actually monitor borehole displacements which are then related to changes in the in situ stress away from the borehole. The relationship between stress and displacement is highly dependent upon the constitutive behavior of the rock in which the gage is emplaced. This relationship is well understood for rocks with linear stress-strain behavior (Fossum, et al, 1976), but, for creeping rocks like salt, the relationship has yet to be determined. Thus, inclusion gage response in salt must be investigated fully before stress measurements from the WIPP in situ tests can be used for comparisons with computed stresses The calculations presented in this paper were performed as part of an investigation of inclusion stressmeter performance in salt. They focus on the strain gaged stressmeter (SGS) (Cook and Ames, 1979) and on a hypothetical solid cylindrical inclusion with variable stiffness Issues addressed include the effects of creep and the effects of gage stiffness on stressmeter output for various loading conditions. The

Jan 1, 1984

By THOMAS J. CLIFFORD

IN 1926, finer grinding began to be a feature of the milling practice of the Southeast Missouri lead district. Nothing since the adoption of flotation has caused greater changes and greater improvement in results. The trend toward finer grinding, with the consequent discarding of tailing at finer sizes, and consequent lower assays in lead, continued to progress until 1931, when the abnormally low price of lead brought a halt: that is, the better metallurgical results obtained would not offset the increased costs due to higher power and necessary maintenance. Since 1931 a slight tendency toward the discard of coarser tailing has taken place. , In 1926, larger rod mills i.12 ft. 1 in. by 6 ft. 6 in.) than any previously used in the district were installed in cue plant, and a new primary crushing plant, of greater capacity was built. This combination demonstrated immediately the better metallurgical results obtainable by finer grinding and all the mills now running have adopted the practice.

Jan 1, 1934

By Robert A. Cook

In the increasing struggle to cheapen the cost of our iron and steel products a great deal of attention lias been given to economies in the manufacture of coke; and while but little lias been accomplished in this direction in the United States, the narrow margin between cost and market-price, which has obtained here for the past few years of continuing manufactur ing depression, has brought the coke-maker face to face with the problem, how to save, and benefit by it, the hitherto waste products of distillation. I These may be summed up under three heads, generally rank ing, in value, in the following order: 1. Ammonia salts.. 2. Oil- or tar-products. 3. Gas. There are cases in which the last may assume the position of greatest importance. The greatest obstacle encountered by the American coke maker, on investigating the subject, has been the apparent necessity of discarding his existing plant of bee-hive ovens, and erecting an entirely new and very expensive system of retort ovens, against the product of which Be has probably been prejudiced from his earliest knowledge of the subject. The object of this paper is to bring prominently before our coke-experts a brief history of the development at Sheffield, England, of a most successful system of the utilization of by products in connection with all already existing plant of bee hive ovens. This system has now been in satisfactory operation for about five years, and is applied to a series of blocks of ovens, comprising-about 140- in all At this plant, belonging to the well-known firm of Newton,

Jan 1, 1897

By Eugene McAuliffe

NO physical impairment can be more serious than the partial or complete loss of sight. With reasonably good eyesight, a person is equipped to care for life and I limb, provided a rational measure of t caution is manifested. When the sight of one eye is lost or badly impaired, one-half of this God-given asset is gone, and extreme care must be taken to prevent the tragedy of total darkness that closes out the beauty of sky, field and mountain, the faces of relatives and friends, and either removes entirely or in part one's capacity to produce and earn. During 1933, The Union Pacific Coal Co., operating ten coal mines in Wyoming, decided to undertake a visual survey of all of its mine operating officials and employees. Although the cost of workmen's compensation paid because of eye injuries was material, the management was more deeply concerned with the social loss and the suffering resulting from the many eye injuries. As every element of coal production cost must be scrutinized, accurate data on all accidents, with the workmen's compensation paid therefor, are carried forward monthly. The number of accidents to eyesight and the resultant compensation paid are shown in Table 1 for nine calendar years:

Jan 1, 1934

By J. Norman Bulkley

As electrical power is used to a greater extent on the Rand than in any other mining center, it is thought that a short description of the methods used and results obtained may be of interest. In comparing Rand practice with that on other fields, several general factors should be borne in mind: First, the mines are all working on large tonnages of low-grade ore (average $6.50). The annual crushing rate is about 27,000,000 tons. Second, the mines are all grouped under the financial and engineering control of mining houses, so that the results of a group, rather than an individual mine, are open for study, and practice follows more uniform lines. Third, coal of fair quality (about 12,000 B.t.u.) can be obtained for $2 to $3 per ton. Good supplies of condensing water are, however, scarce, and have to be carefully stored. Power Supply Power is supplied by the Victoria Falls & Transvaal Power Co., Ltd., and its subsidiary, the Rand "Mincs Power Supply Co. Both companies, which are practically one from an engineering point of view, operate the following stations, all fecding into the same system. Capacity Installed Turbo Capacity Installed Steam-Tur- Station Alternators bine Dliven Centrifugal Compressors Brakpan............... Two 12,500-kw. sets Two 3,000-kw. sets Simmer Pan............... Six 3,000-kw. sets Rosherville................ Two 11,000-kw. sets Six 3,500-kw. machines Five 9,600-kw. sets Three 7,000-kw. machines Verckniging ............. Two 9,600-kw. sets Two 12,000-kw. sets 162,200-kw. sets Total steam-tkbine capacity installed, 204,200 kw. There are also at the Robinson Central air station six motor-driven centrifugal compressors, each of 3,500 kw., equal to 22,000 cu. ft. per minute at 120 Ib. capacity at 3,000 r.p.m. Power is supplied from these stations as 50-cycle, three-phase current generally at 40,000 volts,

Jan 1, 1916

By Avnulf Muan, Egil Aukrust

The activity-composition curve for cobalt oxide in (Co,Fe)304 solid solutions with spinel-type stmcture has been determined experimentally by studying the equilibrium between the spinel phase and a coexisting cobaltowüstite phase, "(Co,Fe)O", at 1200°C. A large negative deviation from ideal behavior prevails in the spinel at low cobalt oxide concentrations and a positive deviation at high cobalt oxide concentrations. The activity-composition curve for iron oxide in the solid solution is determined from the above curve by integvation of the Gibbs-Duhem equation along the join Co3O4,-Fe3O4. The standard free energy of formation of cobalt ferrite, CoFe2O4, from the oxide components CoO and Fe2O3 is calculated to be -8.2 kcal. ThERMODYNAMIC properties of (CO,Mn)3O4 solid solutions with spinel-type structure have been presented recently.' The present paper deals with similar relations in another spinel solid-solution phase, that represented by the system Co3O4-Fe3O4. The principles involved in measurements and calculations of thermodynamic properties for the system Co3O4-Fe3O4 are analogous to those used and discussed in detail in the work on (CO,Mn)3O4. A (CO,Fe)3O4 solid solution coexists in equilibrium with a (Co.Fe)Ot solid solution over a considerable Here acOo1.33 and aao are the activities of cobalt oxide in the spinel and the oxide solid solutions, respectively, pO2, is the oxygen pressure of equilibration, and pb, is the oxygen pressure at which CoO and CosO4 coexist in equilibrium in the binary system Co-O at the same temperature. The activity-com position curve for cobalt oxide in the (Co,Fe)O solid solution in contact with metal has been determined in a previous investigation by the present authors.' The system shows a small positive deviation from linear behavior. Because of the large defect concentration in wiistite and in (Co,Fe)O solid solutions, one cannot assume that the activity-composition relations in the oxide phase coexisting with a spinel phase at relatively high oxygen pressures are the same as those prevailing in the oxide solid solution coexisting with metal. However, a Gibbs-Duhem integration over the ternary Co-Fe-0 solution can be used to determine activities of cobalt and iron, and hence of CoO and FeO, from a knowledge of the oxygen potentials. Several papers have dealt with the subject of application of the Gibbs-Duhem equation to multi-component systems. 3-6 In the present case, it was

Jan 1, 1964

By AIME AIME

THREE of the addresses presented at this interesting and important session are printed in full else- where in this issue. The fourth, Mr. Hewett's paper, on "Cycles In Metal Production" has been issued as Technical Publication 183, and an abstract of it was published on page 162 of last month's issue. The general discussion that followed these four important papers is given in full below. S. A. TAYLOR: I would like to ask Mr. Veasey whether the control of oil in pools includes royalties, and, if so, in case of a new pool how are you going to control, or rather how are you going to describe the limits of that pool?

Jan 1, 1929

By C. Y. Clayton, Francis B. Foley, Muir L. Frey

DuRing the past year, we have investigated the cause of 88 per cent, of the failures by breakage near the bit end of some 1-in. hollow, hexagon, drill steel used in a metal mine. This breakage in the region of the bit end of the steel was peculiarly interesting because we have been Ied to believe that breakage is most prevalent at the shank end of drill steels near the place where the steel is gripped in the chuck of the machine. Records from the mine showed, also, that the breakage was much more frequent in the short lengths of large gage than in the longer steels; this is shown graphically in Fig. 1. Because the shorter lengths of steels are usually those that have been made from broken pieces of long steels or from steels that have worn down in service, rarely being made from new stock, those who are wont to suspect steel of tiring and crystallizing in its old age through fatigue are quite apt to see in this instance an argument in favor of their idea. As usual, a careful examination of these steels reveals defects of a character hardly to be overlooked in favor of such a cause. The steel in question was rolled with a sand core and was of the usual drill steel composition: Carbon 0.85 per cent., manganese 0.60 per cent., silicon 0.25 per cent., phosphorus 0.02 per cent., and sulfur 0.02 per cent., with the exception that in some specimens there was vanadium, not exceeding 0.20 per cent. The following lengths and gages were used: LenGth, GaGe, LenGth. GaGe, Feet Inches feet Inches Starter 2 % 7 111/16 3 2 % 8 11 4 2 % 9 1 9/16 5 2 10 1 7/16 ________6_____________115/16____________________________

Jan 1, 1924

Adams, Benjamin C., Jr., Student, Univ. of Oklahoma Norman, Okla. '36 Adams, Ernest C., Student, Univ. of Illinois 908 W. Green St., Urbana, Ill. '35 Adams, George H., Student, Colorado School of Mines Golden, Colo. '36 Adams, Robert Keller Mitchell Hotel, No. 18, Golden, Colo. '35 Afshar, Hadji Khan A., Student Box 63, Univ. Sta., Moscow, Idaho. '36 Ahrenholz, Herman William, Jr., Student, Lehigh Univ Bethlehem, Pa. '35 Alger, Robert P., Student, Missouri School of Mines & Met.Rolla, Mo. '36 Allen, Paul W., Student, Mass. Inst. of Tech Cambridge, Mass. '35 Allen, R. M., Jr., Student, Virginia Polytechnic Inst., "G" Co.Blacksburg, Va. '35 Alley, John Arnold, Student, Montana School of Mines Butte, Mont. '36 Amberger, R. H., Student, Michigan College of Min. & Tech Houghton, Mich. '35 Ambrosiani, F. Peter, Student, Michigan College of Min. & Tech Houghton, Mich. '36 Andersen, Burton Lee, Student, School of Mines, Univ. of Washington Seattle, Wash. '36 Anderson, Carlos, Student, Univ. of Oklahoma Norman, Okla. '36 Anderson, J. Wendell, Student, Pennsylvania State College State College, Pa. '36 Anderson, Joseph S. Cornelia Hotel, Ajo, Ariz. '35 Anderson, R. C., Student, Univ. of Washington Seattle, Wash. '35 Anderson, Roy A., Student, Washington State College Pullman, Wash. '35 Anderson, Willard. Student. Univ. of Oklahoma Norman, Okla. '36

Jan 1, 1936

By E. A. Holbrook

MINING Metallurgy, and Petroleum Engineering department in our colleges are facing a crisis; indeed, conditions that threaten their very existence. Unless the Army, Navy, and War Manpower Commission change their present policy, within two years mineral industries education as now carried on will die, because no ablebodied students will be left in the course. If this is the decision of our responsible governmental agencies we of the mining schools must perhaps accept it as a war measure. It might be well however, for the executive of our mining metallurgical, and oil companies to look ahead a, to where they are to recruit a supply of young technically trained engineers. You can no more operate a mine, a steel plant or an oil company without trained engineers than you can operate a battleship without mechanical and electrical engineers.

Jan 1, 1943

By T. D. Yensen

Discussion of the paper of T. D. YENSEN, presented at the New York meeting, February, 1916, and printed in Bulletin No. 110, February, 1916, pp. 483 to 512. JOHN A. MATHEWS, Syracuse, N. Y.-Concerning the critical composition of the steel containing 2.50 per cent. of silicon, I may say that 12 or 13 years ago we made some of these alloys. They. were not as pure as the alloys made by Mr. Yensen, nor were they melted in vacuo, but one of them contained exactly 2.50 per cent. silicon, and about 0.25 per cent. carbon. It gave us no trouble whatever in hammering to a billet or rolling into bars, nor even when rolling into ¼ -in. wire rods. The steel in question was practically free from everything except carbon or silicon and contained no manganese sulphur or phosphorus worth mention. The alloy containing 2.50 per cent. of silicon worked perfectly well, as well as one containing 0.5 per cent. silicon, and it seems to me that further work should be done by Mr. Yensen on the physical properties of alloys at this seemingly critical change point. W. E. -RUDER, Schenectady, N. Y.-We -have made silicon steels of practically every composition and have never obtained any material under 5 or 6 per cent. of silicon which was brittle. This may be due, of course, to the presence of carbon, in some of the 'commercial materials, and I presume that Mr. Yensen would argue that the: presence of this carbon might prevent inter-granular brittleness. However, all of our silicon steels, up to 5 per cent. of silicon, by treatment in hydrogen at temperatures near the melting point, can be made to show inter-granular brittleness. Furthermore, the material made brittle in this way could be restored by treating at the same temperature in hydrogen containing a hydrocarbon vapor. I discussed this matter some years ago in a paper on inter-granular cement. It therefore appears likely to me that Mr.

Jan 5, 1916

By J. J. Arps

This paper is a study of the effect of temperature on the electrical resistivity of sodium chloride solutions based on the published resistivity and density data in the International Critical Tables. This temperature effect is of considerable importance in quantitative interpretation of electric logs, where it is frequently necessary to correct mud resistivities measured under surface conditions to temperatures existing at the bottom of the bore hole. An empirical approximation formula was developed for this conversion which has proved to be very useful and seems to provide results well within the range of accuracy of the data involved. This approximation formula states: sistivities of sodium chloride solutions at temperatures of t and t degrees Fahrenheit, respectively. INTRODUCTION Research by various investigators during the past 20 years has clarified the physical principles of the phenomena which cause the natural or spontaneous electric potential in rotary drilled bore holes. The basic relationship which is most commonly used reads: in which the SP deflection, as measured from the shale base line, is expressed in millivolts. K is a constant, which appears to vary between 50 and 110; the low value applying to shaly sands, whereas the higher values are more common in carbonate rocks. A good average value for K = 70. for which value there is considerable theoretical justification." In order to calculate the resistivity of the connate water R and to estimate its "equivalent salinity" (as NaCl) from an electric log by means of this SP relationship from a knowledge of the static self potential and of the resistiv- ity of the mud filtrate R it is necessary to first correct the resistivity of the mud filtrate measured under surface conditions to the resistivity of this same mud filtrate in the well bore at a different temperature. In order to make this temperature conversion for the mud filtrate the variation of the electrical resistivity of sodium chloride solutions with temperature is commonly used. Since some discrepancies were found in the charts ordinarily used for this purpose, it was felt desirable to make a new study of this relationship based on the published measurement data. Because of the fundamental nature of these relationships and as an aid to other workers in this field, an attempt has been made in this study to show every step in the calculations. CONDUCTIVITY VS MOL CONCENTRATION The most complete published reference on the temperature relationship of sodium chloride solutions of different concentrations is provided in the International Critical Tables.' The basic measurement data on the electrical conductivity of aqueous sodium chloride solutions, at different temperatures, as given in these tables, are reproduced in Table 1. The electrical conductivity values in this Table 1 are expressed as 10' times the specific conductivity k in ohm-'cm'l per unit of concentration in milligram mols per liter of solution C, or: RESISTIVITY VS MOL CONCENTRATION These conductivity values from Table 1 were first converted to the corresponding electrical resistivity values (R) , expressed in ohm-meters, as is conven-

Jan 1, 1953

By AIME AIME

THE second session on geophysical prospecting at the February meeting of the Institute was a discussion of the mining law and the bearing of the new method of search on location of claims and assessment work thereon. Allen H. Rogers was chairman of the meeting, which he opened by reviewing the present law and the proposed changes. W. R. Ingalls commented (by letter) on the Arentz bill, as introduced into the House of Representatives in 1921 and the need for revision of the present mining law. L. W. Douglas explained (by letter) the bill that he introduced and which has been passed by the House. SAMUEL S. ARENTZ, Nevada: It is my opinion that if the American Institute of Mining and Metallurgical Engineers is to sell this proposition to the people in the West, they have to sell it to the lawyers, because, after all, they are heard loudly when it comes to speaking in Congress. One man tells the other, "This thing is a vicious piece of legislation"; it might not be, but they will pass it on if it affects them. If the Institute would impress on the people affected that we need a re-codification of the mining law and that such is necessary along certain lines; that things have changed during the past decade or two, so today instead of doing our prospecting alone through the sinking of a shaft, through a discovery that may be seen, we are now moving on to more modern means of discovery through geophysics, through the churn-drill, through geology, through geological inference, I think we could get somewhere.

Jan 1, 1929

By J. B. Austin

IN developing a consistent picture of the thermal expansion of the commercial chromium steels, which cover a range of carbon contents, it is desirable to know the expansion in the limiting case of the binary, carbon-free, iron-chromium alloys. We have, therefore, determined the thermal expansion of a series of five special alloys, ranging in chromium content from 3 to 10.5 per cent, with not more than 0.03 per cent carbon, over a temperature range extending beyond the transformation region; this low carbon content enables us to draw reasonably reliable conclusions as to the behavior of the carbon-free system. Moreover, the measure-ments serve to determine the beginning and the end of the alpha-gamma transformation; and they emphasize once more the fact that a transforma-tion temperature determined by any method in which the specimen is cooled at an appreciable rate is apt to be seriously in error, particularly if the metal contains a transformation-retarding element such as chro-mium or managanese. The lag, or undercooling, observed at the ? - a transformation is explained in terms of the influence of temperature on transformation velocity; the rather unusual shape of the ? loop is attributed to a change with temperature and with composition of the distribution of chromium between the alpha-iron and gamma-iron solid solutions. The exact composition of the alloys which were obtained through the courtesy of Dr. W. Rohn, of the Heraeus Vakuumschmelze A-G., is given in Table 1. Determinations of the linear thermal expansion and of transformation temperature were carried out in the vacuum dila-tometer previously described,1 using a rate of heating and of cooling of 3.0° to 3.5° per minute unless otherwise stated. Magnetic susceptibility, which was measured in studying the rate of transformation, was determined with a magnetic balance, which also has been described.2

Jan 1, 1935

By G. Sachs, E. J. Ripling, J. J. Lynch

It is general practice to evaluate the strength properties of a particular metal from its stress-strain (s1 — el) curve obtained by means of a conventional tension test. Such a stress-strain curve, Fig I, illustrates two important properties of a metal, its ability to strain harden, and its ability to withstand a certain limiting stress, the "fracture stress," (s), and a certain limiting strain, the "ductility" (es), before it fails by separation. These two fracturing characteristics are the coordinates of the point of fracture in Fig I. In the case of a metal which necks in a tension test, both the fracture stress and the ductility (measured in a tension test) are dependent upon (I) the shape of the neck and (2) average values of the stresses and strains over the cross-section at the moment of fracture. However, for the pur. pose of this investigation, these average quantities, rather than the actual values, may be considered for reasons of simplicity. It appears that the conclusiom also hold true if the analysis were carried out for actual values of fracture stress and ductility at the locos of failure. In this paper, the effects of straining (at room temperature) by various methods on the above metal characteristics, which were determined by subsequent tension tests will be discussed. According to Our present knowledge, any such prestrainitlg results in a stress-strain curve (in subsequent testing by tension), Fig 2, the general shape, or flow characteristics, of which can be derived from the original stress-strain curve of the unstrained metal minus a certain portion exhausted by the initial straining. This phenomenon is called strain hardening, and may be measured by the magnitude of the cut-off, or the "effective strain,'' from which the new curve must start in order to coincide in its plastic branch with the original stress-strain curve.

Jan 1, 1949

By H. G. Warren, E. W. Hough

Correlation of interfacial tension of the methane-n-pentane and methane-n-decane systems was made by Hough and Stegemeier by the use of the Weinaug and Katz equation. The methane-n-heptane and ethylene-n-heptane systems were investigated by the authors. Additional systems taken from the literature were the me thane-propane system by Weinaug. and Katz, the methane-n-butane system by Pennington and Hough, and the n- butane -carbon dioxide system by Brauer and Hough. These systems were analyzed by the Weinaug-Katz equation and the Sugden equation on the IBM 1620 11 computer using a regression analysis program. Parachor and exponent values for each component and system were determined. The experimental work was close to the critical point of the light component in the n-butane-carbon dioxide and ethylene-n-heptane systems, between the critical points of the light and heavy components in the methane-n-pentane, methane-n-heptane and methane-n-decane systems, and close to the critical point of the heavy component in the methane-pmpane and methane-n-butane systems. An empirical formula was developed to find a value of the constant B in the Sugden equation for binary hydrocarbon systems from the parachor values of the two components. Interfacial tension for binary hydrocarbon systems was found to be a direct function of liquid-vapor phase density difference in the same manner as a single-component system. DISCUSSION Interfacial tension may be defined as the measure of the specific free surface energy between two phases having different compositions.1 The interfacial tension (IFT) for a binary system may be predicted for any temperature and pressure if the

Jan 1, 1967

By J. L. Gregg, C. W. Kuttner

ReceNtly there has been considerable interest in the production and use of extra hard alloys composed primarily of tungsten and carbon. Dr. Hoyt's recent paper1 gives a good description of these alloys and describes their performance when used as tools. There are a number of these alloys on the market sold under various trade names, and it is the purpose of this paper to describe the results of an investigation of the structure of five of these alloys by means of microscopic and X-ray methods. The samples studied were in the form of small tools or wiredrawing dies, which were either purchased or supplied as samples. They were in some cases not supplied by the original makers but were furnished by the agents in this country, and we wish to call attention to the fact that they may not be truly representative of the materials supplied under the various trade names No performance data are given and no inference as to the inferiority of one alloy as against any other is made. K. Schröter2 recently described methods for polishing alloys of this type for microscopic examination and has presented photomicrographs of several alloys. However, he did not identify their constituents or describe methods for their identification. Constituents and Their Identification As far back as 1915 attempts were made to utilize tungsten carbides commercially, but the great brittleness of these carbides made these first attempts unsuccessful. Later, successful dies were made by sintering the powdered carbides with small amounts of iron, nickel, or cobalt. Due to the high melting points of the tungsten carbides (2600" to 2800" C.), it is difficult to melt the carbides without volatilizing almost quantitatively the added element of the iron group. Inasmuch as the added metal does not exceed 20 per cent. and is usually present in much smaller amounts, some understanding of the tungsten-carbon equilibrium dia-

Jan 1, 1929

By C. W. Kuttner, J. L. Gregg

ReceNtly there has been considerable interest in the production and use of extra hard alloys composed primarily of tungsten and carbon. Dr. Hoyt's recent paper1 gives a good description of these alloys and describes their performance when used as tools. There are a number of these alloys on the market sold under various trade names, and it is the purpose of this paper to describe the results of an investigation of the structure of five of these alloys by means of microscopic and X-ray methods. The samples studied were in the form of small tools or wiredrawing dies, which were either purchased or supplied as samples. They were in some cases not supplied by the original makers but were furnished by the agents in this country, and we wish to call attention to the fact that they may not be truly representative of the materials supplied under the various trade names No performance data are given and no inference as to the inferiority of one alloy as against any other is made. K. Schröter2 recently described methods for polishing alloys of this type for microscopic examination and has presented photomicrographs of several alloys. However, he did not identify their constituents or describe methods for their identification. Constituents and Their Identification As far back as 1915 attempts were made to utilize tungsten carbides commercially, but the great brittleness of these carbides made these first attempts unsuccessful. Later, successful dies were made by sintering the powdered carbides with small amounts of iron, nickel, or cobalt. Due to the high melting points of the tungsten carbides (2600" to 2800" C.), it is difficult to melt the carbides without volatilizing almost quantitatively the added element of the iron group. Inasmuch as the added metal does not exceed 20 per cent. and is usually present in much smaller amounts, some understanding of the tungsten-carbon equilibrium dia-

Jan 1, 1929

By HAROLD VINTON COES

THE motive for merging or consolidation today is conspicuously different from that actuating business men in the late eighties and early nine- ties. Then they combined to secure added productive capacity and to monopolize their respective industries with a view to exploiting the consumer. So flagrant were some of these cases that they brought about their own correctives via retaliation on the part of the public and the subsequent restrictive legislation and legal curbs. The objective of the present-day merger, writes W. R. Hill in Printers' Ink, December, 1927, is summarized as follows : "In the golden days when an industry was being cut to pieces, the prevailing cure was to combine. The reason for such trusts was to strangle competition and by creating a monopoly, dominate the market, raise prices, regardless of economic business methods, and simply force larger profits.

Jan 1, 1930