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By J. J. Scott

INTRODUCTION Rock mechanics theory needs to be applied to solve ground control problems, but in the final analysis the mining method and equipment which is used will be those which solve problems in a practical manner. Equipment and its inherent productivity and safety as supplied as "off the shelf" items by manufacturers often dictate the size of mine openings. Operators may tolerate falls of ground and associated hazards if productivity and safety problems are not too severe. In this whole process the costs of mining finally dictates just what system will be employed and what equipment will be used. True solutions to ground control problems sometimes require that the mine operator step back and totally rethink his problems. The true cost of accidents are often missed and hidden in overhead costs. Losses in production and accompanying profit are not fully considered, false economics, such as using inappropriate roof support devices, are undertaken at times when using the most expensive devices to totally eliminate accidents may be the best overall solution. Automation to remove the worker from the hazard area is often over- looked as the initial capitol expense to apply it may be high. Cooperation between mine engineers, mine operators, safety personnel, equipment suppliers, and government inspectors, both state and federal, is required to reach workable solutions that best meet the goals of all parties.

Jan 1, 1983

By Eric K. Albert, J. Kiusalaas

The paper presents an overview of SPASID (Kiusalaas and Albert, 1983), a new computer program developed under U.S. Bureau of Mines funding for the prediction of surface subsidence caused by under- ground mining operations. The presentation, which is illustrated with two case studies, also re-evaluates the influence function method as a tool of subsidence prediction, arriving at some rather unconventional recommendations. SPASID consists of four modules that communicate through common data bases: (1) Preprocessor. This module prepares and maintains the database for the entire site. The database contains all the information about the site and the mine operation that is necessary for the computation of subsidence. (2) Subsidence Predictor. The influence function method is used to predict the surface displacements that occur in any portion of the site that occur between two given dates. The computations take into account the time lag between extraction and displacement, and the effects of pitching seams and incomplete compaction at the edges of panels. The program contains i not he's influence function and the Green's function of transversely isotropic elasticity theory. (3) System Identification. The purpose of System Identification is to determine the optimal values of the various parameters associated with the influence functions in the Subsidence Module. System Identification requires measurements of subsidence from a site with a sirnilar overburden structure. The values of the subsidence parameters are obtained by minimizing the discrepancy between the measured and computed surface displacements. (4) Postprocessor. The Postprocessor is a graphics facility for displaying the data generated by the other program modules.

Jan 1, 1984

The opening session of the Institute was held at Hazle Hall, Tuesday evening, October 27th, with a large attendance of members. President Raymond called the Institute to order, and after a few introductory remarks, introduced Mr. I. Lowthian Bell, President of the Iron and Steel Institute of Great Britain, and Honorary Member of the American Institute of Mining Engineers. Mr. Bell was received with great applause, and made his acknowledgments in a brief speech, of which the following is the substance: He desired to thank the Institute personally for the honor conferred upon him in his election to membership, and also for the invitation extended last year to the body of which he was President. The difficulty felt by many members of the Iron and Steel Institute, of leaving for a long journey the works of which they had charge, aggravated by special industrial troubles at the time of the invitation, had obliged them to conclude that it could not then be accepted in a fitting manner. The iron .manufacture of this country is a subject of great interest to Englishmen, who look with pride upon the achievements on this side the water of the descendants of a common ancestry. His own reception in this country had far surpassed in cordiality even the well-grounded anticipations he had formed from the assurances of the President and other friends. Notwithstanding the flattering manner in which his friend, in introducing him to the Institute, had spoken of his contributions to the science of iron metallurgy, he could not take to himself alone the significance of this welcome. He knew it was a recognition of the services rendered by the body which he had the honor to represent; and he was glad to see present a member of that body, Mr. Thomas Whitwell, who had fortunately been able to make the journey at this time, arid whom he had had the pleasure of meeting on the shores of Lake Champlain. He had been requested to say something of his impressions of the American iron industry. It was not easy to digest so soon the vast

By Harry H. Nowlan

A heavy development campaign progressed during the year 1936 in South Texas1, following up important discoveries made in 1935. Oil and gas wells completed during the year were 1473 against 704 in 1935. The drilling program reached its peak of operations in June in consequence of offset requirements made necessary principally in Duval County in the Seven Sisters, Loma Novio, Lopez and Cole fields. There were six new fields discovered during 1936 as follows: Rhode in McMullen County; Peters, El Mesquite and North Kohler in Duval County; Wood in Starr County and Colorado in Jim Hogg County. No discovery of unusual consequence was made during the year. The pools mentioned above are simply in the primary stages of development. The most intensive exploratory work during the year was in Duval, Webb and Zapata Counties. Considerable activity also prevailed in Starr and Brooks Counties. Much significance is attached to the California Company's discovery in the Alta Mesa field in Brooks County, which is considered to be a deep-seated salt dome. The Comitas field, in Zapata County, developed some surprisingly good production in a shallow sand at 900 ft. and is being followed by a heavy wildcat campaign throughout that area in search of like production. In Starr County an active wildcat campaign is in progress in a continued effort to find new fields northwest of the Sam Fordyce field, in Hidalgo County. This play continues in a northerly direction through Starr and Jim Hogg Counties. New Fields Rhode.—The Rhode field, in southeastern McMullen County, was opened in May by the Magnolia Petroleum Co. with a gas well in the Whitsett (Upper Jackson) sand at a depth of 1810 to 1822 ft., this test is located in the southeast corner of sec. 86 on the Rhode ranch. Four gas wells have been completed, proving up a gas area of 1000 acres, more or less. Development will be slow because of lack of market for the gas.

Jan 1, 1937

By D. M. Podobnik, J. F. Shirley

The Cuajone Concentrator of the Southern Peru Copper Corp. is located approximately 900 km southeast of Lima, Peru, near the 500 year old town of Moquegua, in an area that has been occupied since antiquity since the plant was started in July, 1976, the throughput has steadily increased from 36 to 46 kt/d (50,7055tpd). The widely distributed molybdenite content of the ore body ranges from 0.02-0.4% MoS2. The molybdenite content of the copper concentrate has always been sufficient to justify operation of a byproduct molybdenite plant. During the first nine months of 1980, the average grade of the ore was 1.169% copper and 0.026% molybdenite. Pilot plant testing conducted during 1970 at Toquepala, Cuajone's sister plant, determined that the recovery of the molybdenite into a salable concentrate could be accomplished relatively easily by using the Asmol process. Experience gained at Toquepala, which converted to Asmol in 1969, confirmed the simplicity of process. Simplicity of operation was one of the major criteria for the process selection because, at the time, it was expected that the molybdenite plant would start up concurrently with the copper concentrator. Other processes studied either produced inferior results or were judged more difficult to operate. However, geological information indicated that the molybdenite content of the ore would be relatively low for the first couple of years of operation, so the design and construction of the plant was delayed until after the copper plant was in production. Asmol remained the process selection. During 1976 and 1977, the flowsheet and plant layout based on pilot plant data, new results obtained from Cuajone's metallurgical laboratory, and process improvements from Toquepala's experience were completed. One of the more important innovations from the Cuajone laboratory was that the Asmol consumption could be substantially reduced by replacing air with nitrogen gas in the rougher and first cleaner flotation steps

Jan 1, 1983

By H. B. Fuqua, B. E. Thompson

The area discussed herein, commonly known as the North Texas district, embraces the following 10 counties: Archer, Baylor, Clay, Cooke, Foard, Hardeman, Knox, Montague, Wichita and Wilbarger. It is underlain by two major structural features. The northernmost portion of the district, including Cooke, Montague, northern Clay, Wichita, Wilbarger, Foard and Hardeman counties, is underlain by the system of buried mountains known as the Red River uplift, which is parallel to and closely related to the Wichita-Amarillo uplift of Oklahoma and the Texas Panhandle. While the presence of a great majority of the numerous oil fields of the area is traceable to this feature, the production in Archer, southwestern Clay and southeastern Baylor counties is due to the influence of what is known as the Cisco Arch (so called because of its influence on Cisco deposition), the axis of which extends in a north\lest-southeast direction across Archer County. Discussion of Tables Preliminary to discussing developments during the year 1933, it appears advisable to offer a few words of explanation on Tables 1 and 2, included as part of this paper, in which an effort has been made to sumlllarize oil and gas development in North Texas to Jan. 1, 1934. One of the chief objectives of this publication is understood to be to show production by individual pools, and, if possible, by distinct pays in a pool. This the authors haw been unable to do for North Texas. It is a generally recognized fact that there are well over 100 individual pools, which should perhaps be mow properly called "productive spots," in Archer county alone, with perhaps an even greater number in Wichita County. It can be found upon investigation that an apparently continuous productive area covering Many acres consists of a half dozen lenticular sands, all stratigraphically different,, which produce only under portions of the apparently continuous area. It is also a fact that practically all gross production records are carried by the various intcrcsted parties by major districts or by counties. It is obvious therefore

Jan 1, 1934

By J. A. Holmes

As the Appalachian mountains reach their maximum development in western North Carolina, we find also in that region indications of extensive dynamic disturbances and alterations undergone by the rocks in' connection with these mountain uplifts. Among the minor results of these changes have been the formation of numerous dikes or a veins " of exceedingly coarse granitic materials, which in some places are mined for the mica which they contain, and in other places are quarried for kaolin. These dikes are filled with quartz, feldspar, and mica, in varying proportions, very coarsely crystallized. Sometimes the mica (generally muscovite), sometimes the feldspar (generally albite or orthoclase) predominates. When the mica is present in considerable quantity, and in large crystals, the dike is usually spoken of as a mica-vein, and is often worked for mica. Sometimes these crystals of mica occur on one side or the other; sometimes on both sides; and sometimes they are largely concentrated toward the middle of the vein, or, it may be, distributed throughout the dike with a considerable degree of uniformity. In many cases the crystals of mica are too small and few to permit the working of the vein as a micamine ; in other cases, very little mica is present, and the feldspar constitutes the larger part of the material. This feldspar of the dikes undergoes, through the weathering action of the atmosphere, certain chemical changes, resulting in its alteration from feldspar into kaolinite—the kaolin of commerce. These dikes vary considerably in size, ranging from a few inches to several hundred feet in thickness, and up to many hundred yards in length. They are generally parallel to the schistosity of the crystalline rocks, which, however, in some cases, they cross at varying angles. The kaolin in those dikes which occur in the Unaka or

Jan 1, 1896

By L. A. Weakly

The Viburnum ore trend is the largest, single known ore body of lead in the world. Four well-known mining companies operate in the trend, which is approximately 64 km (40 miles) long and up to 610 m (2,000 ft) wide, located some 121 km (75 miles) southwest of St. Louis, MO. Total production from the mines for 1979 was 33 kt/d (36,000 tons) of ore or 472 kt/a (520,350 tons) of lead and coproduct metal. The district is the number one producer of lead, providing 90% of the United States' output with its coproducts, zinc ranking second, and copper and silver both ranking sixth in total US output. Mining is done in a stratiform deposit approximately 305 m (1,000 ft) in depth with the host rock principally dolomite. Ore is mined in large open stopes by the method commonly referred to as room-and-pillar mining. Mining methods and equipment are fairly similar, with the mines classified as trackless, all mining equipment operates on rubber tires. This paper will present a description of the different methods and equipment used to move ore from the active heading underground to the ore shaft for hoisting to the surface. Basically, three methods are incorporated: front-end loader and truck haulage combination; front-end loader and truck, with main line track haulage combination; and front-end loader and truck, with conveyor haulage combination. The logistics of each system, such as method of use, equipment specifications, ore handling rate, and those cost figures that could be made public, will be included.

Jan 1, 1983

By T. Guilford Smith

In presenting the subject of " Armored Turrets for Coast Defense " to this Institute, I am indebted to the Gruson Ironworks, a company incorporated under the laws of the State of New York, for valuable information, model and plans, by which I hope to make clear the construction and peculiar merits of this class of gun-protection. I wish it understood, however, that this is not an undeveloped and untried inventor's ideal, but an advanced and fully perfected system, which has long since passed the experimental stage and has been adopted by most of the foreign governments, after years of extensive experimenting and the expenditure of millions of dollars. The present seems an appropriate time to present the matter to the scientific public, since, for the first time, it is possible to produce these turrets in this country, of American material, and made by American workmen, owing to an agreement entered into between the Gruson Iron-works and the Fried. Krupp Grusonwerk, of Magdeburg-Buckau, Germany, where they have hitherto alone been manufactured. Although its full development and present perfection have been attained at the German works, it may be of historic interest to state that the first idea of using a rotating protected platform for large guns originated with Mr. Theo. Ruggles Timby, a native of the State of New York, who filed a caveat in 1843 for a " metallic revolving fort, to be used on land or water, and to be revolved by propelling engines located within the same and acting upon suitable mechanism." This was followed in 1862 by the issuance to Mr. Timby of two patents (No. 35,846 and No. 36,593) covering the ideas described in his caveat of 1843. The first practical application of this system was made on the " Monitor," of Civil War fame, Mr. Timby receiving $10,000 for two

Jan 1, 1901

By L. O. Bond, R. P. Alger, A. W. Schmidt

Well logging provides valuable information for planning coal mining operations. In addition to locating, defining, and evaluating coal beds, electrical logs indicate the relative competence of roof and floor formations. Electrical well logging is the .recording of various physical, chemical, or physicochemical properties of the strata penetrated by a drill hole. To perform logging operations, borehole measuring probes, or sondes, are lowered on a cable into the drill hole. Insulated conductors in the cable pass power to the sonde and transmit signals to the surface. As the sonde is pulled up the hole, the measurements are recorded as a well log. These measurements serve to define the formation lithology. Common rock minerals exhibit characteristic log values such that computer analysis of the log data defines the mineral content of the formations. Shales, carbonates and sandstones, and coal beds are readily distinguished. Furthermore, preliminary results in coal studies indicate the log data delineates variations in ash and moisture contents. Of major concern in planning mining operations is knowledge of roof and floor competence. Here again the logs provide valuable information. Measurements of formation density and acoustic wave velocity provide data for computation of a compressional modulus. This compressional modulus is an effective index of formation competence. Electrical logging thus efficiently provides information for economic planning of mining operations.

Jan 1, 1972

INTRODUCTION Great emphasis has been given throughout this text to the necessity of maintaining the integrity of mineralogical populations when operating upon sample data drawn from mixed populations. Mineral deposits rarely are completely homogeneous and often consist of many subsets separated by geological and mineralogical boundaries. Sometimes different mineral populations are difficult to distinguish, and may be inadvertently lumped together-often without serious consequences, but more often with detrimental effects upon analytical results. The geologist must accept the responsibility for recognizing and recording mineral boundaries that may include: changes in mineral suites, lithological horizons, host rock types, faulted and offset segments, zones of enrichment or depletion, and several other geological and mineralogical changes that effect mineralogical structuring and distribution within a deposit. When employing conventional methods for assigning estimated values to irregularly shaped mineral inventory blocks, it was only necessary for the geologist or engineer to con- fine the block limits to the known geologic boundaries. Thus if a fault interrupted the mineral zone, the trace of the fault could be used as a block boundary. Intelligent decisions could always be made as to which blocks to include in each mineral population. However, with the advent of the computer, which per- mits the computation of mineral inventory blocks using better mathematical estimation techniques, there now enters the "boundary problem." Unless the computer can be programmed to recognize population differences and geologic boundaries, greater estimation errors will be found in computer-generated mineral reserves rather than in less sophisticated conventional inventories. Much disillusionment has been expressed over the years by experienced mineral appraisers as a result of their study of computer-generated inventories that failed to account adequately for geologic vagaries. Many, thus disillusioned, have concluded that computer techniques are not satisfactory, or have only limited applications to simple deposits. As with all problems in the mineral industry,

Jan 1, 1980

By Paul M. Tyler

YEAR after year, the kaolin industry of the United States has been setting new production records and making better products. High-grade paper, pottery, and rubber clays are produced in this country mostly in the South. Georgia alone contributes over 70 pct and South Carolina almost 20 pct of the total domestic output. Residual kaolin is mined in North Carolina, highly plastic but naturally sandy Tertiary (Eocene) potting clays are worked in north central Florida, and good white clays are produced in several other states, but the main sources of kaolin or china clay have been numerous deposits in the Tuscaloosa (Upper Cretaceous) formation. This formation of generally sandy sediments is called the Middendorf member in older geologic reports and corresponds in age with some of the New Jersey clays. As shown in fig. 1, it crops out almost continuously in a generally southwesterly direction across South Carolina and Georgia and into Alabama. Clay is mined from this formation in all three states but the principal producing centers lie within about 10 miles of a straight line drawn between Aiken, S. C., and a point about 10 miles south of Macon, Ga. The white kaolins of the South were recognized and used prior to the Civil War but suitable treatment processes were not introduced until World War I when imports, chiefly from England, were curtailed. Although imports of high-grade clays were resumed after 1918, the domestic industry managed to treble its prewar production record during the early 1920's and has continued to grow. Whereas the 1909 to 1913 average total production in the United States was only 132,104 short tons valued at $705,352 f.o.b. mines, the output in 1948 was 1,568,848 tons worth $19,756,738.

Jan 6, 1950

By M. E. de Morton

Low frequency-internal friction measurements on annealed chromium have shown a marked increase in damping below - 40°C which is strongly strain amplitude dependent. An interpretation of these results is given in terms of the motion of antiferromagnetic domains assumed to exist below - 40°C. A time effect on internal friction was measured after slight overstraining. After heavy deformation a pemzanent, five-fold increase in internal friction was observed at -45°C and the character of the internal friction us temperature curve markedly changed. Full recovery of damping was not attained until after heating to 800°C. A qualitative interpretation of some of these effects is given. THE aim of this preliminary investigation was to study the internal-friction characteristics of chromium containing comparatively small quantities of interstitial solutes in the fully annealed and heavily worked condition. Marked anomalies in a number of physical properties of chromium at temperatures near 40°C have been observed1 and an investigation by neutron diffraction' has shown that chromium at room teyperature is weakly antiferromagnetic with a Nee1 temperature at approximately 200oC. No irregularities in the degree of antiferromagnetic ordering have been observed at -40°C, the transition temperature, and a complete explanation of this transition in chromium is still awaited. Recently weiss3 has suggested that an ordering effect of nitrogen in the face-centered interstices of the bcc lattice of chromium could be responsible for the superlattice detected below 200 °C in the neutron diffraction experiments. EXPERIMENTAL MATERIAL AND METHOD Specimens 10 by 0.030 in. diam were prepared from ingots of arc-melted electro-deposited chro-

Jan 1, 1961

By F. C. Holman

It is desired in these notes to record a vein-phenomenon certainly unique in the writer's limited experience, and, as it seems to him, sufficiently rare to be worthy of mention. In the little mining camp of Forbestown, situated in the Sierra Nevada of California, it was announced one day, when the miners of the Cold Banks mine came off shift, that "washed gravel" had been struck on the 265-foot level. To those acquainted with that section and the character of the mine (a gold-bearing quartz-vein) this was a somewhat startling announcement; for, prolific as the State is, we are not in the habit of mixing up promiscuously our vein- and placer-deposits. However, the statement proved to have some foundation. The mine is located at an altitude of about 2700 feet, on the brink of one of the great canyons of erosion characteristic of the drainage of this range. A lateral ravine cuts the vein at right angles, thus making its general strike approximately parallel to the canyon at this point, and with a variable dip of from 20 to 40 degrees towards the canyon. The strong, well-defined vein, often 20 feet wide and more, presents nothing to distinguish it particularly from scores of others in the State, unless if be considered peculiar in the highly crystalline character of its quartz and the nature of the enclosing country-rock, which is metamorphic in the extreme, very hard, devoid of lamination, and in bedding so obscure that it might easily pass—at least on superficial examination—for one of the basic eruptives. Near by in the district can be found a series of slates common to the gold-belt of this range, and within the limit of the company's property is an intrusion of an acid eruptive. On an adjoining claim a granite shows itself. The mine is opened through an inclined shaft sunk on the vein. The ore carries both free gold and sulphurets, the greater part of its value

Jan 1, 1896

By Ralph W. Bailey, William B. Price

INTRODUCTION ARSENIC, antimony and phosphorus are now used in the brass industry as standard inhibitors in preventing dezincification in [ ] condenser tubes. This subject has been thoroughly covered by Barry,1 who described the testing procedure by total immersion of suitable specimens in a I per cent cupric chloride solution at definite temperatures. Effects of dezincification were then determined by loss in tensile strength and elongation of the test specimens after definite periods of immersion. In the crystallography of the chemical elements as tabulated by William Hume Rothery,2 phosphorus (metallic), arsenic, antimony and bismuth are placed in group V-B and the type of crystal lattice for arsenic, antimony and bismuth is given as rhombohedral. The Metals Handbook3 [ ] lists them as "rhombohedral hexagonal," with the additional notation that for arsenic this is the ordinary form at 20°C.; other modifications known or probable at other temperatures. In view of these statements and of the fact that phosphorus, arsenic and antimony are effective in increasing the resistance to dezincification, it was natural to assume that bismuth would act in the same manner. A series of tests was therefore carried out employing the methods described by Barry. Much to our surprise, bismuth did not inhibit dezincification, but rather seemed to accelerate it. Tensile-test speci-

Jan 1, 1942

By AIME AIME

SIR HENRY CORT HAROLD CARPENTER, great-great-grandson of Henry Cort, famous as the initiator of iron puddling some 150 years ago, carries on the tradition of an illustrious name. Newest of those elected to the Institute's roster of Honorary Members, Sir Harold is distinguished for his achievements in the field of metallurgy as an investigator, teacher, administrator, organizer, and director of research. His interests in research have been in both the ferrous and non-ferrous fields. His name is particularly honored in its association with the establishment of fundamental con¬stants and of critical ranges of iron and iron alloys, and with original and fundamental studies of the preparation and properties of metal single crystals.

Jan 1, 1938

By AIME AIME

Council.* PRESIDENT OF THE COUNCIL. ROBERT W. HUNT CHICAGO, ILL. (Term expires February, 1907.) VICE-PRESIDENTS OF THE COUNCIL. WILLIAM P. BLAKE TUCSON, ARIZ. THOMAS F. COLE DULUTH, MINN. IRVING A. STEARNS WILKES-BARRE, PA. (Term expires February, 1907.) HENRY AL HOWE NEW YORK, N. Y. J. B. GRANT DENVER, COLO. JAMES D. HAGUE NEW YORK, N. Y. (Term expires February, 1909.)

Jan 1, 1907

By T. M. Chance

THE necessity of adopting improved methods of bituminous-coal cleaning at. many collieries is recognized by all familiar with the requirements of the various bituminous markets, the approaching exhaustion of the relatively small areas of inherently high-grade-coal, and the difficulties encountered in maintaining a uniform grade of shipped coal. Many coals lose much of their .market value by degradation in size, and, in any event, if the cleaning process is to contemplate wetting the coal the minimum amount of fines should be produced to prevent sludge losses and the difficulties resulting from the moisture content of the wet fines. Hence, it is desirable to by-pass the finer coal dry, if this can be done without too-great increase in impurities in the final product. This procedure has given excellent results at washeries at Steelton and in the Birmingham district. If the raw fines are too impure to permit admixture with the washed coal, it may be desirable to use dry methods, such as the pneumatic table, rather than to wet an excessive amount of such fine material. The bituminous-coal cleaning plant should therefore: (1) Treat the raw coal in as large lump as possible and without sizing; (2) eliminate degradation of pure coal -in the washing process; (3) avoid wetting the fines, if possible; (4) produce washed coal practically free from mechanically included impurities; (5) crush the refuse and retreat, if much intergrown coal, and refuse are present, rather than precrush the entire feed. Ordinary gravimetric methods of concentration, whether hydraulic or pneumatic, will not meet all of these requirements, as the large lump includes those sizes. now sent to the picking tables, if it is desired to treat material of such size. I do not know of any prior commercial method, based on the falling velocity, coefficient of friction or resistance to fracture, that permits the production of clean coal varying in size from, say, 10-in. lump to 1/16 -in. mesh.

Jan 6, 1924

By Stanley Herold

As an accompaniment to the interesting papers which discuss the practical aspects of forced drive, or flooding, in our oil fields, and to others which deal with laboratory or field tests on the same subject, a few remarks on the theoretical principles concerned may not be considered inappropriate at the present time. Without claiming to have had the field experience which some of you certainly possess I venture to present some of the results of an analytical investigation upon this method of increasing the recovery of oil from our natural reservoirs. I firmly believe that these results will accord with your experience. I shall confine the present discussion to the consideration of a perfectly ideal situation Let us assume that the productive formation lies perfectly horizontal, that it is of uniform thickness, of perfectly homogeneous texture, and that it contains oil with gas in solution, and no water, throughout a definite, although undefined, lateral extent. We shall furthermore assume that the pressure existing within the reservoir as thus specified, is such that some of the gas is in the free state, spread uniformly throughout, in the form of minute bubbles within the pores of the formation. We now have an ideal reservoir subject to the peculiar action of capillarity as described by the French physicist Jules Jamin. In all directions within the reservoir we see these bubbles of gas, separated by globules of oil which tend to remain in the capillary channels that connect the pores. The action of these bubbles and globules under the application or release of pressure has been fully described by Jamin.1 Most of our oil fields in the Mid-Continent and Eastern districts are subject to this action of capillarity: The fact that the actual reservoir is often far from being ideal in the manner specified above does not preclude the, influence of this phenomenon. The oil, existing under a pressure exerted by the compressed gas, is securely locked in place

Jan 11, 1926

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928