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Jan 1, 1902

By L. F. Mondolfo

R301 is a clad aluminum alloy, composed of a core of a duralumin-type alloy clad with a magnesium silicide alloy. It differs from other well-known clad alloys in that the cladding and the core respond to the same heat-treatments. and therefore the cladding contributes appreciably to the mechanical properties of the material. In Table I are reported the compositions of the core and cladding alloy for the material used for the experiments. Table i.—Chemical composition of R~OI Used for the Experiments Element Core Cladding Cu........................ . 0.01 Fe......................... . 0.42 Si......................... 0. 0.71 Mg........................ . 0.99 Mn ........................ . 0.54 In clad aluminum alloys where the core contains copper and the cladding does not, at elevated temperatures the copper tends to diffuse from the core through the cladding. This fact is well known and many investigations have been conducted to determine the features of this diffusion. Most of those investigations cover materials clad with pure aluminum; the present investigation covers a material clad with an alloy. Since the cladding thickness on R~OI varies with the gauge, as shown in Table 2, several gauges were investigated. Material and Procedure he material used was sheet of the following gauges: o.o2~, 0.040, 0.064, 0.102, 0.170 Cut in pieces approximately 3 by 5 in., it was in the cold-rolled state and was soaked for increasing times at the following temperatures: glo°F., 940°F., 970°F. A Lindberg cyclone furnace was used for the experiments. The procedure was as follows: The furnace was started empty with controlling pyrometer set at the determined temperature. After the furnace had reached that temperature, it was run for some 20 to 30 min. empty, in order to allow the temperature inside to become stabilized. Then the first samples were introduced. A load thermocouple, with recording pyrometer, was connected with the sample of the heaviest gauge. About 10 min. was required for the material to reach temperature and the soaking time was counted from that point. After zoo min. soaking, the second group of samples was introduced without stopping the furnace. After 200 min. more, the third group of samples was introduced, and so on, until the last sample had been introduced. Every time the furnace was opened and new samples were added, a drop of temperature was registered by the thermocouple connected with the material

Jan 1, 1946

By L. G. Schulz, P. Spiegler

The electrical resistivity and the temperature coefficient of resistivity were measured with a potentiometric method using pure mercury as a reference material. Measurements were made nea,v roorn temperature. A detailed study was made of Hg,TI, near its melting temperature. THE work to be described was originally undertaken to provide the necessary data for interpreting the results of some optical experiments,' but because of the growing importance of liquid metals,273 it appeared that the results of the resistivity measurements should be published separately. For convenience the alloys selected were those which are liquid at room temperature. Special consideration was given to the Hg-T1 alloy closely corresponding to Hg,Tl, because recent X-ray diffraction results of Smallman and Frost seemed to show that the solid structure may persist to some extent into the 1iquid. EXPERIMENTAL PROCEDURE A potentiometric method was employed in which the resistivity of mercury was used as a reference. The essential features of the samples are shown in Fig. 1. A capillary tube CT with a bore of approximately 1.5 mm was fitted into two end cups, T, which were made of Teflon. A pair of current electrodes CE were immersed into the excess liquid metal which partly filled the end cups. The potential electrodes PE were inserted into CT through short pieces N of a no. 18 hypodermic needle held in place with Saureisen cement SC. As shown, the lower ends of the PE7s were reduced in diameter to 0.25 mm to minimize the distortion of the liquid metal cross section. Several methods were used to insert an alloy into the sample, but the usual one with mercury alloys was to fill the sample container with a weighed quantity of pure mercury* and then add weighed the sample tube in a vacuum. Because of rapid corrosion, samples containing gallium were of necessity prepared in a vacuum. To obtain the specific resistivity of an alloy the resistance of the sample containing the alloy was measured and compared with the resistance when the container was filled with mercury. Resistances were measured in the temperature range of 20" to 60°C to obtain the temperature coefficient of resistance. The electrical measurements were made by connecting the sample in series with the standard one-ohm resistance, and the potential drop measured alternately over the sample and the standard resistance. To correct for stray thermoelectric effects provision was made for reversing the direction of the current, and the true potential drop was taken to be the average of that obtained for the two directions of current flow. Various materials were used for the electrodes, the most uniform results being obtained with nickel. EXPERIMENTAL RESULTS The numerical results are presented graphically in Figs. 2 and 3 and in tabular form in Tables I and 11. Following are remarks on results of individual alloys. 1) Hg-In—This was the first alloy studied, and

Jan 1, 1960

By C. F. Smart

SINCE their comparatively recent development, the alloys of cadmium with silver and copper or nickel, and of cadmium with nickel alone, have been used somewhat extensively as liners for connecting rod bearings and main bearings of internal-combustion engines. In applications where, owing to high hearing loads and elevated operating temperatures, the life of hearings made from tin-hale or lead-base alloys has been undesirably short, cadmium alloys have demonstrated considerable advantage. In applications where, because of deflection of the crankshaft or bearing supports, copper-lead bearing metals have resulted in scored shafts, cadmium alloys have been operated successfully. The somewhat serious drawback to these alloys in hearing service has been that they, in common with copper-lead and certain lead alloys, are susceptible to corrosion in the presence of lubricants containing organic acids. These acids may be fatty acids (such as oleic acid) derived from animal or vegetable oils that sometimes have been compounded with engine lubricants, or they may be compounds of an acid nature developed by the oxidation of some petroleum oils under operating conditions. The result of such acid attack on hearings is illustrated by the photograph, Fig. 1. The petroleum oils that are most readily oxidized to a corrosive condition, and the operating conditions under which such oxidation most readily occurs, are now rather well known among the technical organizations of both the petroleum and automotive industries. While means have been developed for inhibiting petroleum oils against such acid formation, the knowledge that this condition may be encountered has been a factor in restricting the wider use of cadmium alloys as engine bearings. It has appeared, therefore, that their value and use would be enhanced if they could be made corrosion-resistant to a degree compatible with the most severe operating requirements. Investigation, undertaken with this in view, indicated that the addition of fractional percentages of the metal indium to the cadmium bearing

Jan 1, 1938

By L. F. Mondolfo

R301 is a clad aluminum alloy, composed of a core of a duralumin-type alloy clad with a magnesium silicide alloy. It differs from other well-known clad alloys in that the cladding and the core respond to the same heat-treatments. and therefore the cladding contributes appreciably to the mechanical properties of the material. In Table I are reported the compositions of the core and cladding alloy for the material used for the experiments. Table i.—Chemical composition of R~OI Used for the Experiments Element Core Cladding Cu........................ . 0.01 Fe......................... . 0.42 Si......................... 0. 0.71 Mg........................ . 0.99 Mn ........................ . 0.54 In clad aluminum alloys where the core contains copper and the cladding does not, at elevated temperatures the copper tends to diffuse from the core through the cladding. This fact is well known and many investigations have been conducted to determine the features of this diffusion. Most of those investigations cover materials clad with pure aluminum; the present investigation covers a material clad with an alloy. Since the cladding thickness on R~OI varies with the gauge, as shown in Table 2, several gauges were investigated. Material and Procedure he material used was sheet of the following gauges: o.o2~, 0.040, 0.064, 0.102, 0.170 Cut in pieces approximately 3 by 5 in., it was in the cold-rolled state and was soaked for increasing times at the following temperatures: glo°F., 940°F., 970°F. A Lindberg cyclone furnace was used for the experiments. The procedure was as follows: The furnace was started empty with controlling pyrometer set at the determined temperature. After the furnace had reached that temperature, it was run for some 20 to 30 min. empty, in order to allow the temperature inside to become stabilized. Then the first samples were introduced. A load thermocouple, with recording pyrometer, was connected with the sample of the heaviest gauge. About 10 min. was required for the material to reach temperature and the soaking time was counted from that point. After zoo min. soaking, the second group of samples was introduced without stopping the furnace. After 200 min. more, the third group of samples was introduced, and so on, until the last sample had been introduced. Every time the furnace was opened and new samples were added, a drop of temperature was registered by the thermocouple connected with the material

Jan 1, 1946

By AIME AIME

PRESIDENT Edwin Ludlow and Secretary Bradley Stoughton made their first-trip of the year 1921 to visit Local Sections of the Institute, and talk over Institute interests and policies, during the early part of April. The main purpose of the trip, as usual, was to bring back to headquarters suggestions or comments on the Institute's work on the part of, members. The trip was made a brief, one by the necessity of remaining in New Fork until Apr. 1, and of the attendance of President Ludlow at a meeting of American Engineering Council and. the organization of a Philadelphia Section of the Institute in Philadelphia on Apr. 16.

Jan 1, 1921

NEW MEMBERS The following list comprises the names of those persons who became members during the period of Apr. 10, 1918, to May 10, 1918. BALLARD, JOHN I Supt., Cable Mining Corpn., Cable, Mont. BURKMAN, JOHN M. F., Constr. Engr., U. S. Smelt. Refin. & Min. Co., Care -University Club, Mexico City, D. F. CALLEN, ALFRED COPELAND, Head, Mining Engineering Dept., West Virginia University Morgantown, W. Va. CHADWICK, LAWRENCE, Chem., Mt. Elliott Copper Co., Ltd., Selwyn, via Townsville, North Queensland, Australia. CODY, FRANK W., Skimmer, Reverberatory Furnace, Arizona Copper Co., Clifton, Ariz. COOLBAUGH, MELVILLE F., Prof. of Chem., Colorado School of Mines, Golden, Colo. DODGE, ALLAN WAYNE The Dodge Agency, 104 East Iron Ave., Salina, bans. DONNELLY, LEONARD G., Pet. Geol., Sinclair Oil & Gas Co., Sinclair Bldg., Tulsa, Okla.

Jan 6, 1918

By A. J. Sinclair

Sampling methods for feasibility studies are dependent on geological characteristics of the deposit being evaluated. A preliminary geostatistical study is required, taking into account autocorrelation aspects of variables under study in order that sample plan design can be optimized to produce grade and tonnage estimates within stipulated error limits. In general, regular sample distribution is to be aimed for, and regular sample lengths (from drill core or cuttings, for example) are preferred in order to facilitate statistical analysis. Sample plans are modified and improved (either technically or economically), as a sampling program proceeds and additional information is obtained. Bulk samples for metallurgical testing can be evaluated in terms of the variance shown by all such samples in a deposit and the internal variability of grade. Attention to these sources of variability will ensure proper evaluation of pilot test results from bulk samples. In addition, a general mineralogical study of a deposit is an important, often ignored, requirement in a more general but semi-quantitative evaluation of the representativeness of a bulk sample; and, moreover, provides information useful in optimizing plant design.

Jan 1, 1978

By Z. T. Bieniawski

The efficient and safe design of room-and-pillar coal mines still remains as one of the pressing problems facing the mining industry in the United States. Present day design is a trial-and-error approach based mostly on experience. Although much research has been directed to stability of mine roofs and coal pillars, no generally-accepted design method has been formulated. This paper reports on a three-year research effort directed to an improved design of room-and-pillar coal mining in the U.S.A. Essentially the study consisted of three aspects: (i) determination of stable roof spans; (ii) determination of the strength of coal pillars; and (iii) determination of safety factors for room-and-pillar coal mining in the United States. Furthermore, three novel approaches were utilized during this research: i) the "petite sismique" technique was assessed for possible determination of coal pillar deformability ii) the "Geomechanics Classification" was extended for determination of safe roof spans in room-and-pillar coal mining. iii) a national survey of the current design practice and mining dimensions was performed with the aim of assessing factors of safety for room-and-pillar coal mining The outcome of this work, which is summarized in this paper, is a design code for room-and-pillar mining in the United States.

Jan 1, 1983

Application of Kutter's Formula to Gases Discussion of paper by F. ERNEST BRACKETT, presented at the Pittsburgh Meeting and issued, as Pamphlet No. 1578-A-F, with MINING AND METALLURGY, June. 1926. C. S. WITHERELL, New York, N. Y. (written discussion).-There is no reason to doubt that the relationship between the rate of flow and the impelling force of all fluids can be expressed by a general typical equation . that takes cognizance of all relevant factors such as density, viscosity (or its reciprocal mobility) and nature of channel-walls. Most fluids that are commonly conveyed by flow in confined channels are so highly mobile that they may be considered non-viscous, hence for these fluids the factor of viscosity does not need to appear in the equation. Water is the outstanding example of this class of fluids and its dynamic behavior has been so thoroughly investigated that proven formulas pertaining thereto, be they rational or empirical, would naturally serve as prototypes for the other non-viscous fluids. As non-viscous fluids can be classed all gases and vapors, most unsaturated aqueous solutions, gasoline, alcohol, etc. Viscous fluids comprise those that have a sluggish flow such as most. oils, tar, molasses, etc., the high viscosity of which is due to shearing resistance between molecules; a force that must be taken into account in figuring the flow of fluids of this class.

Jan 10, 1926

By David H. Browne

One of the most difficult problems in the chemistry of iron-ore, and one, the solution of which, so far as I am aware, has never been attempted, is the distribution, throughout a given vein, of Bessemer ore, and its relation to the formation of the deposit. In those hematite-mines in which both Bessemer and non-Bessemer ore occur, the sorting of the ore as it lies in the deposit becomes a problem of much economic as well as scientific interest. It would seem, from a superficial examination. or, indeed, from any examination not conducted for this especial purpose, as if high- and low-phosphorus ores were mixed in inexplicable confusion ; and a mining-chemist is very apt to fall into a system of adventitious analyses, taking first-class ore wherever he can find it, and overlooking its relation to the formation and position of the vein. I hope that a few notes which I present on this subject may be found worthy of consideration, as throwing a new light upon this obscure topic. During the last three years, while acting as chemist of the Lumberman's Mining Co., I have made some 3000 analyses of iron-ore from the Ludington mine at Iron Mountain, Michigan. These analyses were necessary in order to separate Bessemer and non-Bessemer ore which occurred intermixed in the deposit. During the last year, I attempted in several ways to find some reason or method in the distribution of phosphorus, and have finally become cognizant of the arrangement herein outlined. I have been obliged to confine my attention to our new mine, and, in that, to that portion wherein

Jan 1, 1889

By Leonard C. Grimshaw

Diffusion of carbon from gases into iron has been the object of much research, because of its long recognized importance in carburizing processes, but the direct diffusion of carbon from steel into iron has received relatively little attention. Because of the increasing use of clad metals in industry, direct diffusion from steel into iron is becoming of practical importance. Therefore, the object of this investigation was to study the diffusion of carbon from several different kinds of steel directly into relatively pure iron, realizing that elements in the steels other than carbon might influence the rate of carbon diffusion. The previous work on diffusion of carbon into iron has been considerable, and includes many reports in foreign languages. This work has recently been well reviewed by Mehll and Krynitsky12 and the reader is referred to their excellent bibliographies. Methods of Study There are two main methods by which the direct diffusion of carbon from steel into iron may be studied. In one method, steel is first decar-burized in part, and diffusion of carbon then allowed to take place from the steel into the decarburized steel. This method is open to two serious objections: (1) the decarburized steel is not iron, but contains elements such as manganese, silicon, chromium or tungsten, which may be an essential part of the steel under study, and which may seriously influence the diffusion of carbon into the decarburized area; (2) there is from the start of diffusion an unknown carbon-concentration gradient between the steel and the decarburized area. Another method, which possesses neither of these disadvantages, is to study diffusion from steel into a thick plating of electrolytic iron. Herc the chief difficulty is to secure an electrolytic deposit of iron upon steel without introducing an oxide film at the interface that will interfere with diffusion. The author is able to deposit iron upon any kind of steel without introducing an oxide film at the interface, so that diffusion of elements from the steel into the iron is free to proceed unhindered.

Jan 1, 1938

By Leonard C. Grimshaw

Diffusion of carbon from gases into iron has been the object of much research, because of its long recognized importance in carburizing processes, but the direct diffusion of carbon from steel into iron has received relatively little attention. Because of the increasing use of clad metals in industry, direct diffusion from steel into iron is becoming of practical importance. Therefore, the object of this investigation was to study the diffusion of carbon from several different kinds of steel directly into relatively pure iron, realizing that elements in the steels other than carbon might influence the rate of carbon diffusion. The previous work on diffusion of carbon into iron has been considerable, and includes many reports in foreign languages. This work has recently been well reviewed by Mehll and Krynitsky12 and the reader is referred to their excellent bibliographies. Methods of Study There are two main methods by which the direct diffusion of carbon from steel into iron may be studied. In one method, steel is first decar-burized in part, and diffusion of carbon then allowed to take place from the steel into the decarburized steel. This method is open to two serious objections: (1) the decarburized steel is not iron, but contains elements such as manganese, silicon, chromium or tungsten, which may be an essential part of the steel under study, and which may seriously influence the diffusion of carbon into the decarburized area; (2) there is from the start of diffusion an unknown carbon-concentration gradient between the steel and the decarburized area. Another method, which possesses neither of these disadvantages, is to study diffusion from steel into a thick plating of electrolytic iron. Herc the chief difficulty is to secure an electrolytic deposit of iron upon steel without introducing an oxide film at the interface that will interfere with diffusion. The author is able to deposit iron upon any kind of steel without introducing an oxide film at the interface, so that diffusion of elements from the steel into the iron is free to proceed unhindered.

Jan 1, 1938

By John K. Hammes, Stanley D. Michaelson

The material presented in this chapter is supplemental information on those significant aspects of open-pit copper mining that are to an extent unique and therefore not detailed in previous sections covering the fundamentals of open-pit mine planning, operations and maintenance. In addition, tabulated cost and operating data are presented for a variety of open-pit copper mines. 13.3-1 History. The history of the civilized use of copper began at the end of the Stone Age when man discovered that the red metal, in the form of native copper, could be readily worked into a variety of weapons and tools which simplified the primitive requirements for survival. Almost concurrently, the high value of these early copper products became so widely known that they soon assumed major importance as trading commodities. Copper and copper-alloyed artifacts, even though produced in very limited quantities by ancient miners and metalworkers in a few parts of the Near East and the Western Hemisphere, were so valuable that early warriors and traders carried them into nearly all the world's known areas of importance. As far as copper is concerned, the Bronze Age, at sometime around 8000 BC to 6000 BC, marked the vague, little-known beginning of metallurgy. Man learned to alloy the valuable red metal to make it harder and tougher; its use multiplied as did the variety of weapons and tools made with the gradually increasing metallurgical and fabricating skills. By 3000 BC bronze alloy products became relatively widespread ; copper mining activities assumed tremendous importance and the mines on the Isle of Cyprus developed into prized possessions of each Mediterranean empire from the times of Egyptian supremacy to well beyond the decline of the Roman Empire.

Jan 1, 1968

By Ellis Clark

Within the last ten years the progressive party of China, headed by Li Hung Chang, the Viceroy of Chi-Li, has been making great efforts to develop the mining resources of that country, and particularly those that are within reasonable distances of the sea-board. Attention was first paid to the coal-deposits, especially those at KaiPing, which have been placed on a profitable basis with an output of 1500 tons per day, under the energetic management of Mr. Claude Kinder, M.I.C.E., and the successful financiering of Tong King Sing. These coal-mines were described in a report by Kwong Yung Kwang, edited as a paper for the Institute (Duns., xvi., 95.) The attention of the leaders of the progressive party has for the past five years been turned also toward the development of the precious and related metals—gold, silver, copper and lead. De-

Jan 1, 1891

By O. W. Ellis

RECENTLY there has been a considerable revival of interest in the effects of the various elements commonly added to brass for the purpose of increasing its strength. For many years the work of Guillet2? alone gave reliable information in this regard. Even today his determination's of the coefficients of equivalence of the various elements relative to zinc in brass are those universally employed in industry. This is so because these coefficients have stood the test of time-their substantial correctness has been proved in almost universal practice. It is not our intention to discuss here these coefficients or their use. Rather do we wish to emphasize the need for further systematic studies of the mechanical properties of the ternary systems of copper, zinc, and other individual elements. Since Guillet published the results of his first investigations Millington,16 Smalley33 and Thibaud45 have added somewhat to our information. In general they have confirmed the findings of Guillet, which may be stated in the following rather general terms: 1. The addition of aluminum to the 70:30 and 60:40 brasses progressively increases their hardness and strength and reduces their ductility and resistance to shock. 2. The addition of small amounts of iron to a 60:40 brass improves its strength without affecting its ductility. 3. The addition of small amounts of manganese to a 60:40 brass causes a progressive increase in its strength and reduction in its ductility. A considerable amount of information has been amassed in regard to the effect of nickel on brass (9, 22, 41) which it is unnecessary to refer to here, in view of the scope of this paper.

Jan 1, 1929

By William Hutton Blauvelt

Coke is the product of dry distillation of bituminous coal, by which the volatile matter is driven off, producing a hard body of cellular structure. Not all bituminous coals will coke, and there has been much discussion regarding the substance which is present in coking-coals to distinguish them from dry coals. Professor Lewes says that the bituminous matter in coal is largely derived from the spores of fossil mosses. Resins are present in all soft coals, and contribute largely to the cementing of the coke. The resinates and hydrocarbons begin to distil out at moderate temperatures and leave the pitchy residual, which at 500' C. forms a mass already well caked together, if the proportion of humus residual is not too great. This coke is soft, but if the heat be raised to 1,000° C. the pitch decomposes further, leaving carbon, and Professor Lewes is convinced that the coking bond is due to these liquid products which distil off, leaving pitch, which then carbonizes and binds the mass into coke. Professor Parr concludes that the structures of the organic compouilds of the coal Which furnish the cemeding-material for coke, and which are apparently attacked by oxygen, have not been determined and seen] to vary somesvhat in different types of coal. However, they yield, on oxidation, humic acids of varying composition which decompose into powdery residues. Because of the complex nature of these substances and the difficulty experienced in isolating and identifying them, the theory of coking is still an open problem and the explanations advanced are largely hypothetical. In the coking process the volatile matter driven off in the oven consists mainly of tar, ammonia, and gas, familiarly known as by-products. Both the quality and quantity of coke and by-products vary greatly With the composition of the coal.

Jan 1, 1913

By P. Nicholls

Patent records show that the attempt to improve the burning of fuel by mixture or pretreatment with chemicals dates back to the early years of the last century. By 1845 English and French patents had included the specific beneficiations of elimination or reduction of smoke, soot and clinker; reduction of the ashes; elimination of sulphur fumes; increase of the rate of burning; increase of the time a given charge of fuel would last; and, in most patents, a saving of fuel. The earlier patents specified additions up to 80 lb. or more per ton of fuel, but after 1860 the quantity was seldom more than 4 lb. There is no record of the extent to which these patents were commercialized, but after 1874 many American patents were assigned to companies specializing in treatment of coal, so it is probable that the products were marketed on a considerable scale at least as early as that date. From 1900 on, many proprietary products were marketed under the general name of "fuel savers," the principal sales being in small packages for the use of householders; savings of from 10 to 40 per cent of the coal were promised. Starting with 1927, the use of proprietary or other mixtures of chemicals was extended to power plants and to treatment of coals at the mines, the claims of saving of fuel being subordinated to those of general improvement and, in particular, to reduction of clinker-ing. Such expectations are attractive and a number of companies experimented with or adopted the practice. There were reports of improved operation, but, apparently, few were confident enough that these improvements were due to the salts to publish the results of tests or their records of operation. There are no data on the yearly tonnage of coal treated but indirect reports suggest that it has been relatively large. Since its establishment in 1910, the U. S. Bureau of Mines has continually received inquiries about these products. At the request of other governmental departments it made tests in 1910, 1916 and 1930, using certain proprietary products applied according to the instructions of the vendors; these tests were made with eastern coals in domestic and

Jan 1, 1938

By Jesse O. Betterton

Recently some experimental work was conducted by the author in connection with the direct leaching of certain zinc ores with sulfuric acid with the object of subsequently recovering the zinc by electrolysis. The ores contained relatively large quantities of soluble silica, making it necessary to evolve special methods for handling the silicate solutions resulting from a leach of the ore, and also for the final removal of the silica before electrolysis. The problem was complicated by the presence of vanadium in the ore, the commercial recovery of which was very desirable. This paper, however, deals only with the silica phase of the problem. The zinc in the ore occurs in the form of a silicate (hemimorphite) and, to a very small extent, as the phosphate (hopeite) and carbonate (calamine); the vanadium is found as descloizite and vanadinite but mainly as descloizite. The experimental work was done in a plant producing 50 lb. of zinc = daily, in which the complete cycle of operations, including the final electrodeposition of the zinc, was performed continuously for one year. Some of the conclusions given here are the result of the operations in -this plant; the others are from laboratory tests inaugurated both as a guide to the plant operations and, in certain cases especially, to determine the limits in question. The practice in the 50-lb. zinc plant was to direct leach the ore crushed to pass 40 mesh, with spent electrolyte from the cells containing approximately 3 per cent. zinc and 10 per cent. free acid. This resulted in an acid leach solution and an ore residue. The acid leach solution was ' subjected to a special treatment for subsequent removal of vanadium; then the silica and vanadium in solution were precipitated together and removed as a "silica residue" by pressing through an ordinary plate and frame press. The next step was to treat the filtrate from the silica residue with zinc dust as a final purification step before it went to

Jan 1, 1923

By Earl Oliver

The term oil property, in this discussion, includes any type of easement or grant under which petroleum might be produced; it ranges from the mere right to drill on undeveloped wildcat acreage up to a fully developed oil property. The values of an oil property, as thus defined, vary widely according to the use for which it is intended, whether it is from the viewpoint of the speculator, the fraudulent stock promoter, the refiner and pipe-line owner, or the oil producer. The market value of a property is usually a combination of some two or more of these influences, and occasionally a combination of all of them, but we prefer to treat each viewpoint as distinct from the others, allowing the reader to make his own combination in such proportions as his inclination and property seem to require. This paper will treat the subject from the viewpoint of the oil producer. However, the other influences have such bearing on the cost of property to the producer and on the price he might obtain by its sale as to warrant brief discussion of them. Speculation, particularly lease speculation, is a parasitic growth on the oil industry, healthy enough, but of no economic value. The class of property usually dealt in for this purpose is the undeveloped lease. Its speculative value may have some relation to its probable productive value, but most frequently this value is the product of temporary excitement due to local development. The lease speculator, seeking out the trend of development or securing early information regarding a proposed test or a new discovery, immediately secures leases whose market value will be increased when the existence of such development becomes more widely known. His profits are purely unearned increment. Not proposing to spend money in exploration, he can afford to compete in purchase with the operator, who, in addition to bonus paid, must spend large sums in testing out his own acreage and that of the nearby speculator as well. It has a tendency to compel unduly high bonuses. The so-called "checker-board1' system of leasing wildcat acreage by the larger companies is on the same principle of attempting to secure the

Jan 1, 1921