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By William Buell

As used in connection with open-hearth or other high-temperature operations, "insulation" refers to a multitude of substances, natural or manufactured, that have the one principal property of preventing the flow of heat by conduction to a greater degree than refractories can prevent it, the principal properties of the latter being resistance to tem-perature and/or chemical action. The term "control" as commonly applied to the mechanization of management functions is inappropriate without qualification, for without some degree of control of every operation we could produce no steel worthy of the name. Although grouped together in this paper, insulation and control in open-hearth furnaces have little, if any, interrelationship, therefore the paper is made up of two distinct parts.

Jan 1, 1935

"The earth is the Lord's and the fullness thereof." Science knows no national boundaries, knows no country. These views might be taken as premises for a discussion of the development of the mineral resources of the world. Yet how far man is removed from such broadminded ideals! In this day of jealousy and dread, of political machinations and statesmen's maneuverings, of rantings and crass ravings against fellow-beings, man's attitudes towards God's gifts are but the measure of the smallness of man. That the exploitation of mineral wealth should be for the common good, none will deny, but what is meant by "common"? Is it for the common good of The Pennsylvania State College, Pennsylvania, the United States of America, or the world? If man is big enough and honest enough to state categorically that by "common," as used in the context above, is meant that the utilization of the mineral wealth should be for the mutual benefit of all mankind, and that all concerned strive to see that such a viewpoint is executed, then there is brighter hope for the future. It is to be hoped that the world may have at least a few years or possibly a generation of peace. What can be done in these years to work towards the ultimate goal of human improvement? The work of statesmen in the drafting of international agreements and the easing of small frictions which appear between nations, as they

Jan 1, 1950

By A. W. Fahrenwald

THE absolute efficiency of crushing and grinding in a ball mill is not known. A number of investigators have made calculations to this end and have presented efficiency figures. Two factors have prompted further investigation of this subject: (1) the unbelievably low magnitude of the values offered, and (2) a desire to obtain, if possible, true relationships between the relative efficiencies of a ball mill operating under varying conditions. A useful forward step in the study of mill efficiency was made when Martin1 and Gross and Zimmerley2 proved the correctness of Rittinger's law, and incidentally the incorrectness of the so-called Kick law, and when Gross and Zimmerley3 determined and gave surface values for Tyler sieve-sized quartz. These data are probably accurate throughout the range of the sieve scale, but on -400 mesh (which is the finest sieve available), the surface data, as obtained by the hydrofluoric acid disso-lution method, are of doubtful reliability. Any inaccuracy existing in surface determinations of -400-mesh material, especially when comparing runs in which varying quantities of this product are formed, will cause the resulting relative mill efficiency values to be distorted. Moreover, knowing surface accurately, the efficiency calculations require a surface energy figure. Two such figures are to be found in literature, one by Edser4 and one by Martin.5 Edser's surface energy

Jan 1, 1931

By J. A. M. van Liempt

SINCE the discovery, of von Laue, that a crystal forms a natural grating for X-rays, our knowledge of the structure of solids has gone forward with rapid strides. This progress is not only of purely scientific interest, but has also yielded direct technological results. One of the most valuable results is the broadening of our knowledge of the structure of pure metals and alloys. To promote these studies it is often desirable to have at our disposal pieces of metal consisting of one single crystal. As is so often the case in the natural sciences, we obtain the best results by making our earliest experiments on pure, simple materials and avoiding unnecessary complications. The Cryogen Laboratory at Leyden followed this method with much success, because the work was done at such low temperatures that the heat movement of the atoms was almost' absent. Similarly we can simplify the studies of metals by leaving out of consideration the influence of the grain boundaries and the mutual influence of the crystals by using unicrystalline instead of polycrystal-line metal. Methods of making single crystals have been scientifically studied during the past few years. Some methods were already known in the arts, but these have been improved and new methods have been developed. The methods for making metallic single crystals may be divided into the following groups: A. From the liquid state B. From the gaseous state C. Electrolytically D. By recrystallization in the solid state

Jan 1, 1927

By Adrian M. Crawford

INTRODUCTION A study has been made of the stability of blocks and wedges of rock subjected to gravity forces in the roofs of underground excavations. Rock wedges may become wholly or partly self supporting with the mobilization of shear resistance of discontinuities bounding such wedges. The influence of in-situ stresses and the relative stiffnesses of the intact rock, and shear and normal stiffnesses of the discontinuities has been investigated. A two dimensional, plane strain model of symmetric rock wegdes in a horizontal stress field has been utilized. A comparison between the results of an extension of a closed form solution proposed by Bray(1981), and numerical analyses with Displacement Discontinuity elements (Crouch, 1976), are presented. These analyses indicate that the stability of the wedge and the stress redistribution around the wedge upon excavation of an opening is markedly influenced by the ratio of intact rock stiffness to seam normal and shear stiffness. It is shown that the analytical solution provides a reasonable measure of the lower and upper bounds of the loads necessary to cause failure of the wedge. MODELS The problem considered (Fig. 1) is a two dimensional plane strain model containing two discontinuities. The discontinuities are symmetrically disposed with respect to a horizontal excavation which forms a wedge of rock bounded by these discontinuities. The angle of the intersecting discontinuities at the apex of the wedge is 2[a]. Mechanical properties of the two discontinuities are identical, being represented by linear normal and shear joint stiffnesses Kn and Ks and angle of friction [o]. The rock wedge is loaded by an in-situ horizontal stress field [ah]

Jan 1, 1982

By Paul F. Gnirk

INTRODUCTION The notion of permanent disposal of high-level radioactive waste in natural salt formations was formally proposed in 1957 by the Committee on Waste Disposal of the National Academy of Sciences- National Research Council. This proposal was the result of the Committee's deliberations in response to a request from the U.S. Atomic Energy Commission (AEC) in 1955 to assess the viability of geologic formations for such disposal. The research investigations for waste disposal in salt were initiated at the Oak Ridge National Laboratory (ORNL) in the late 1950's and continued through the 1960's and early 1970's at a relatively modest level of funding. During the period of transfer of Federal Administrative authority from the AEC to the Energy Research and Development Administration (ERDA) to the Department of Energy (DOE) during the latter part of the 197O’s, financial support for the research program was enhanced substantially. The program at OWL was regrouped under the Office of Waste Isolation (OWI) and later transferred to the Office of Nuclear Waste Isolation (ONWI) at Battelle Memorial Institute. With this enhancement in the research program, consideration of basalt, granite, shale, and tuff as repository host media was initiated. In February, 1980 the President of the United States established officially a comprehensive waste management program which called for the selection of the first repository site in 1985 from a suite of four or five potentially suitable sites, and initiation of a repository operation at that site in the mid-1990's. The current disposal system concept involves the emplacement of radioactive waste packages in mined disposal rooms at depth in suitable geologic formations, with closure of the facility effected

Jan 1, 1983

By Thomas S. Nye

Mineral exploration in the United States relies heavily on theoretical geologic concepts and indirect methods such as geophysics and geochemical prospecting, as there are few exposed areas of mineralization which have not already been explored. In Mexico, ore grade samples can be cut at the surface on vein, replacement, and disseminated types of deposits in many areas. The problem is not in finding a mineralized area but in deciding which mineralized area can be explored and developed at the least risk and cost, with the greatest profit potential within the framework of Mexican mineral economics and that nation's government policies. Socio-economic Posture Mexico, prior to World War II, had suffered from more than one hundred years of intermittent wars and exploitation by internal and foreign elements. Consequently, the basic facilities which today's society takes for granted were scarce or non-existent in most of the country. Travel was largely a matter of negotiating poor dirt roads, riding horseback or walking. Relatively few people were literate and medical facilities were luxuries for the wealthy. Mexico's leaders were, however, determined to improve the lot of their people, within a system of private enterprise and personal freedom. Long-range programs initiated at about the time of World War II to provide infrastructure-education, health and welfare, transportation, power, water, communication-are now established fully or in part for most of the country and are being continually expanded.

Jan 12, 1972

By James L. Sweeney

The Project Independence Evaluation System (PIES) is a complex evaluation, forecasting, and analysis system which represents the U.S. energy production, conversion, transportation and consumption activities. The system includes various models: An econometrically estimated energy demand model, used to evaluate the final demand functions for energy commodities ; A collection of supply models, used to evaluate the cost curves or supply curves for domestic crude oil, natural gas, coal ; An integrating model used to describe energy conversion and transportation activities and to calculate prices which equate energy supply and demand in each market. PIES has been used to generate conditional forecasts of the 1980, 1985, and 1990 states of the energy system--forecasts conditional upon the world oil prices, the energy policy environment, and other uncertainties. Scenarios have been structured to separately examine conservation initiatives, domestic energy supply enhancements, an extensive electrification strategy, and oil and natural gas well -head price regulation. This paper presents the basic model, discusses its use for examining policy options, and describes several forecast results. The paper draws heavily upon work completed for the 1976 National Energy Outlook, published by the Federal Energy Administration.

Jan 1, 1977

By F. P. Dewey

Recent discussions have furnished to the members of the Institute much information concerning aluminum and its applications. The present paper will be devoted almost entirely to the description of a process by which the metal is produced in the form of alloys. The characters which especially distinguish the Heroult process consist in electrolyzing a mass of molten alumina (Al2O3), and at the same time alloying the separated aluminum with a heavy metal, the heat necessary for the fusion of both the alumina and the alloying metal being supplied by the direct passage through the molten Al2 0, of an electric current of high amperage and low voltage. The process has been in active operation at Neuhausen in Switzerland for about two years. It is also in active operation at Froges in southern France. Both these locations were selected for this purpose on account of the presence of large and desirable water-powers. The apparatus consists of a carbon containing-vessel, which may be a single crucible for small operations, or may be built up of slabs or blocks of carbon for large and industrial operations. When built up of slabs or blocks, the whole is surrounded by an iron casing. In the earlier crucibles this iron casing was cast around the carbon, in order to secure close electrical contact. This, however, has been found unnecessary; and in the later crucibles the casings consist of plates bolted together, while pulverized carbon is packed between the carbon blocks and the iron. Electric conductors are united direct to this iron casing, and the current passes from this through the carbon lining to the interior of the crucible. By this

Jan 1, 1890

By William P. Blake

In the recent litigation for the possession of franklinite by one party and of zinc-ore by the other party, it was shown by the evidence of experts familiar with the original condition of the outcrops that at Mine Hill a more or less disticctly defined layer of red zincore underlay the heavier and larger body of the franklinite, so-called ; this layer or bed of zinc-ore dipping under the franklinite upon the western cropping, while at Stirling Hill, two miles south, the conditions were apparently reversed, the zinc-ore overlying the franklinite. An explanation being required, it was shown, first, that at both places, at Mine Hill on the north and at Stirling Hill on the south, the ore-bed lies in a synclinal or trough-like fold with the red zincore under the franklinite; and secondly, that at Mine Hill, we see chiefly the outcrop of the western part of the folded bed and at Stirling Hill the eastern part; the Mine Hill cropping being on the western slope, and the Stirling Hill cropping on the eastern slope of the hill. Thus the ''back vein" at Stirling (the western outcrop) corresponds with the front-vein at Mine Hill, and, like it, has the red zinc-ore on the foot-wall, while the front-vein or eastern cropping at Stirling corresponds to the back-vein or eastern cropping at Mine Hill in the part of the bed generally known as the " buckwheat-field vein." If the ore-bed were continuous in one synclinal trough between the two localities, no further explanation would be required. But it is not so ; and the synclinal folds at both places pitch steeply to the north, bringing the beds to the surface in horseshoe-like curves at their southern ends or croppings, and carrying the beds far below the surface northwards. This justifies a doubt

Jan 1, 1895

By W. A. Goodyear

It is safe to assert that in cities generally, the fuel of the future for all domestic, as well as for most manufacturing and metallurgical purposes, will be gaseous fuel. The immense advantages which gas possesses in facility and cheapness of distribution, cleanliness, and economy of manipulation, and the facilities which it offers for utilizing in almost all cases a much higher percentage of the total quantity of heat produced, than it is possible to do with any kind of solid fuel, are facts which will vastly more than compensate for the comparatively small loss of heating power, which will be found necessary in the turning of the solid fuel into gas upon a large scale, and which, in the bpinion of the writer, will, at no distant day, command attention, and will ultimately result in a revolution in our use of fuel. The employment of gaseous fuel upon a scale of any considerable magnitude, has hitherto been almost entirely confined to the utilization of the waste gases of the iron smelting furnace for heating the blast, and the rapidly increasing use, for certain metallurgical pur-

Jan 1, 1883

REJUVENATED is an apt word to apply to Chino, Kennecott's big open-pit mine at Santa Rita, New Mexico. Back in 1923 Chino was merged with Ray by an exchange of shares, and in 1926 the Ray-Chino combination was taken over by Nevada Consolidated through an issue of bonds that were traded for the Ray and Chino assets. Subsequently, of course, the whole package was acquired by the Kennecott Copper Corporation. On the basis of the terms of the Ray-Chino-Nevada exchanges, Chino was rated third in value, something less than thirty per cent of the total. In 1955 the appraisal would doubtless be forty per cent or more. But it is not only vis-a-vis Ray and Nevada that Chino has blossomed out. At the end of 1931, Chino ranked seventh among the Porphyries in point of output; whereas by the end of 1954 it was fifth,. having passed both Inspiration and Nevada Consolidated. Sharp curtailment in production in 1932-33-34 and total suspension in the two years following (see Fig. 21) found the property in a somewhat parlous position. However, the engineers had not been idle; they had been planning for the future, and in 1937 a far-reaching program of rejuvenation was launched. During the ensuing five years, capital expenditures totaled more than $8,500,000. Among the projects undertaken were the following: (1) Mine-Purchase of larger and better equipment for drilling, loading, and transporting the ore. (2) Mine-Beginning of the first systematic project to leach and recover copper in the waste dumps at the mine.

Jan 1, 1957

By C. H. Stein

THE Pennsylvania Legislature, on March 13, 1837, passed an act authorizing the Lehigh Coal & Navigation Co. to construct a railway to connect the North Branch Division of the Pennsylvania Canal with the slack water navigation f the Lehigh River; the navigation company accepted this act on May 10, 1837. Edwin A. Douglas, chief engineer for the navigation company, located the route for this railway from White Haven to Wilkes-Barre, which was called the Lehigh & Susquehanna Railroad. The object was to transport coal from the Wyoming Valley, of Pennsylvania, to the Atlantic seaboard. This railway was considered a marvelous piece of engineering, as it included a tunnel nearly 13 mi. long, and a series of inclines, or planes, up which the cars laden with coal were raised from the vicinity of Ashley to the summit f the mountain near Solomon's Gap, whence they were taken to White Haven by rail. There the coal was transferred to canal boats. In June, 1862, floods almost completely destroyed the upper division of the canal, so on March 4, 1863, the Pennsylvania Legislature passed an act prohibiting its restoration, but granted a charter for the construction of a railway from White Haven to Mauch Chunk to connect with the line from White Haven to Wilkes-Barre, previously built. On March 16, 1864, a supplementary act was passed extending the Lehigh & Susquehanna Railroad to Easton, Pa. This completed a direct all-rail route from Wilkes-Barre to the New York harbor (by way of the Central Railroad of New Jersey). Up to this time, all freight and passenger traffic passed over the planes, but in 1866 and 1867 there was constructed what was known as the "back track" down the mountain side between Solomon's Gap and Ashley over which all the passenger traffic and empty cars thereafter passed; it is now known as part of the main line. For the handling of the heavy coal traffic, however, this would have involved a continuous climb from Ashley, 170.27 mi., from New York, to Solomon's Gap, 157.8 mi. from New York, or a distance of 12.47 mi., and a total ascent of 1,013.75

Jan 9, 1921

By L. C. Morganroth

CARBONIFEROUS CLAYS FROM a geological standpoint, but scant attention has been paid to fire-clay beds. Only within the last few years have they been the subject of individual investigation, prior to this time having been considered only in their relation to coal seams. While the relative importance of coal and fire clay is still immeasurably in favor of coal, yet an industry as large as that of fire clay is entitled to a measure of attention. A discussion of the Carboniferous clays is practically a discussion of the clay beds in the Appalachian basin, since more than 90 per cent. of these clays mined are from this region. The clays are confined to the northern end of the basin, or the States of Pennsylvania, Ohio, Kentucky, Maryland and West Virginia, ranking in importance about in the order named. The clay deposits of the Carboniferous period have been divided into two classes; those found in the Pottsville conglomerate series of rocks, and all those that are found in the formations above, for the reason that the clay beds above the Pottsville series all resemble each other in properties, composition and appearance, and all are distinctly different from the bed found in the Pottsville formation. The bed of clay found in the latter formation is unique in that flint clay is practically restricted to it. (A variety of flint clay is occasionally found in these upper deposits but this is in such small amounts as to be negligible.) Carboniferous clays occur between stratified rocks; sandstones, limestones, etc., in the same manner as coal veins. They are often accompanied by a coal vein although where the clay is of a workable thickness the coal is generally too thin to work. The clay beds are sometimes known by the name of the coal seam at which horizon they occur. Clay beds may be from a few inches up to 20 ft. in thickness. They may consist of all soft clay all flint or both soft and flint.

Jan 2, 1916

By John M. Hartman

An examination as to irregularity of wear around the nose of the Witherbee tuyeres showed a section through the nose near the top as per Fig. 1, and a section only a half-inch beyond as per Fig. 2. The molten iron flowing over the nose of the tuyere had melted off the metal until the water in the tuyere prevented further melting. These tuyeres have a division in the annular water-space (see Fig. 2) to turn the current of water at the top, and the watersupply pipe is carried to within 1 inch of the nose. The constant supply of cold water in the nose of the tuyere kept it well cooled and preserved. But half an inch on the other side of the division the metal had melted off, as is shown by Fig. 1. There was no means of effecting a circulation at this point so long as the water was discharged from the butt of the tuyere. A pipe having been placed on the discharge-side of the division, the same as on the supply-side, in order to secure a circulation of the water at the nose on the discharge-side, it was found that the metal did not burn off. The nose being found to give out at the bottom, a division was placed in the annular water-space at the bottom, terminating 1 inch from the nose. This made a sharp current of circulation in the nose at the bottom, and prevented the burning of the metal there. A positive circulation at the nose, top and bottom, is a necessity with the present fast driving of furnaces, and prolongs the life of the tuyeres. The proper metallic composition of tuyeres is a question constantly agitated. A trial of ordinary yellow-metal* tuyeres was made 12 years ago. They did their work just as well

Jan 1, 1899

By Edgar Newhouse

THE lead smeltery at East Helena, Mont., controlled by the American Smelting & Refining Co. since 1899, has been in continuous operation for the past 25 years. Most of the old smelting and roasting practices have been superseded by newer and more modern methods, but on account of the difficulties involved in changing the original construction, some of the methods in use of handling materials are not the most modern. This plant, however, is particularly interesting as being one of the few essentially lead smelteries in the United States. At Federal, Ill., Collinsville, Herculaneum, and possibly other places, similar work is being done, but it is doubtful whether any of them produces as' much lead as the East Helena plant, whose monthly production averages 6,500 tons. The situation, 5 miles east of Helena, is convenient to both the Great Northern and Northern Pacific railroads, while the electric power is obtained from Canyon Ferry, 12 miles east on the Missouri river. Local quarries supply the requisite amount of lime rock, Which the contracts require to be crushed to 5 in. Of the 450 men on the monthly pay roll, a census showed 200 Austrians, 110 Americans, and 30 Italians, the balance being made up of miscellaneous nationalities. The ore supply is mainly derived from the Coeur d'Alêne mines in Idaho, and consists of crude ore, coarse and fine concentrates, middlings, and slimes. About one-half of the total output of the Coeur d'Alêne camp is sent to East Helena. An average analysis of these ores gives approximately 40 per cent. lead and 11 per cent. sulphur. Local shipments, varying, from month to month, are mostly highly siliceous gold and silver ores carrying little lead. Small shippers, leasers of old mines, and prospectors are very numerous throughout Montana, and it is the policy of the company to encourage these men by every possible means, including the free sampling and analysis of their ores and aid in the development of their mines and prospects whenever their results show promise.

Jan 8, 1914

MEMBERS-QUALIFICATIONS AND ELECTION SEC. 1. The membership of the Institute shall comprise seven classes, namely: 1. Members; 2. Honorary Members; 3. Senior Members; 4. Associates; 5. Junior Members; 6. Rocky Mountain Members; 7. Junior Foreign Affiliates. All shall be equally entitled to the privileges of membership, excepting that no member of any class whose residence shall be outside of the United States of America, except those residing in Mexico and Canada, shall he entitled to vote. SEC. 2. Members: A person to be eligible for election or transfer into the class of Member must be at least 27 years of age and must have had at least six years' employment in the practice of engineering, mining, geology, metallurgy, or chemistry, during at least three years of which be must have held positions of responsibility in one or more of these fields. This shall not apply to Rocky Mountain members. SEC. 3. Honorary Members: Each candidate for Honorary Membership must be recommended by at least ten Members and must be elected by ballot at a meeting of the Board of Directors by the unanimous vote of the Directors present; provided, however, that the number of Honorary Members shall at no time exceed twenty. Such election shall automatically act as a transfer of such member from any other class of membership to which be may belong.

Jan 1, 1938

By Alfred Wandke

The problem of vein formation has been of particular interest to the writer for years. As his work for a long time was confined largely to districts showing large deposits of copper ore, it was natural that the efficiency of replacement, as one if not the chief control of the emplacement of the ore, seemed a particularly attractive hypothesis. Of late years, in almost daily underground work in the Guanajuato district, he has collected evidence which makes it certain that in a number of cases the ore solutions were under sufficient pressure to force the rock walls apart and to hold them apart, thus offering an open space for the deposition of vein and ore-bearing material. This paper will concern itself with conditions frequently met with in hypogene ore deposits of the vein type, and will deal in particular with ore occurrence in precious-metal veins of the type classified by Lindgrenl as epithermal deposits, or metalliferous deposits formed near the surface by ascending thermal waters2 and in genetic connection with igneous rocks. To account for the emplacement of this type of ore deposit various writers have suggested the following agencies: 1. Shattering of the wall rocks. 2. Pressure of growing crystals. 3. Magmation, as treated at length by Spurr3. 4. Replacement. 5. Openings produced by folding. 6. Shearing due to gravity. 7. Shrinkage produced by the passage of pre-ore solutions. 8. Contraction joints produced by lateral secretion. To this list there may be added another agency, a discussion of which forms the basis of this paper: 9. Pressure of the ore-bearing solutions.

Jan 1, 1931

By Charles E. Carlsen

Underground construction involves all the legal problems common to the construction industry and adds a nice little group of its own. Elements which will ultimately affect contractor-owner relationship commence to form almost as soon as the owner conceives of the project. A few of these with emphasis on their application to underground construction will be mentioned. (1) During the design stage, determination must be made as to whether the specifications will be general or restrictive. To what extent will the operations of the contractor be controlled? Can he proceed to use any method of tunnel excavation that he desires and only be responsible for the end result or will specific excavation procedures be required? Can explosives be used? Under what restrictions? Are tunnel supports required? How long can the crown behind the heading remain unsupported? What kind of supports are required? What restrictions on the placement of tunnel-lining concrete will be required? Each of you could extend this list for many pages but these illustrations are indicative of decisions that must be made in advance of bidding, and the ultimate decision on each question can have a significant effect on the legal relationships that exist between the contractor and the owner. The owner wants a good job at a fair price. On the other hand, nothing is worse than having a tunnel collapse during the construction period, with its extra costs, loss of life, and delay to the entire project. If the specifications are too restrictive, increased costs of performance are bound to occur. Owners save tremendous amounts of money by obtaining a contractor who has been ingenious in devising the most economical construction procedure. Care must be taken in drafting the specifications so that the benefits of such ingenuity will not be lost. (2) HOW is the contract to be awarded? Will there be open bidding, a restricted list of bidders, or will there be negotiations with a comparatively few contractors? If it is a government project, whether Federal, state, or

Jan 1, 1970

By H. J. Struth

Conditions in the gasoline market undoubtedly influence the oil industry's general economic situation to a greater degree than perhaps any other single factor. No matter how efficiently the oil industry manages to conduct its producing operations, a drop in the price of gasoline exerts definite pressure upon the posted price of crude oil in the field. Efforts of the recent past have shown that profits from the producing division of the industry are closely tied in with the course of the gasoline market. When refinery gasoline prices are depressed, as they have been during recent months, it is utterly impossible for purchasers to maintain a crude market that is commensurate with the cost of production, regardless of how well balanced the producing situation may be. In fact, the producer can no longer regard his operations in the light of an independent unit of the oil industry, since his financial well-being is directly dependent upon the well-being of the refiner. Because gasoline is the principal constituent of crude oil, it is obvious that profitable refining operations can only be maintained through profitable gasoline markets. Likewise, when the price of gasoline influences a profit for the refinery it also influences the prosperity of the producer, through the advent of higher and more profitable posted prices for crude oil in the field. Financial results for 1932 showed material improvement over the preceding year, primarily because the price of gasoline was maintained at levels somewhat above those of 1931. Consequently, the producer was able to record improvement in the crude market, through a somewhat higher level of posted prices. While effective methods of prora-t,ion of crude production are given credit for the advance recorded in the crude market last year, it is also a fact that the advent of higher prices for gasoline had a direct influence upon the posted prices of crude oil. For example, when gasoline was sold in Group 3 at 2 3/4 a gallon in June and July, 1931, the price of 36-gravity Mid-Continent crude was down to its lowest point of only 18c a barrel. As refinery prices advanced, however, there was a corresponding advance in posted prices of crude oil. Thus, when Group 3 gasoline commanded a price of 5c a gallon

Jan 1, 1933