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By J. King Hoyt

IN both Sweden and England rapid progress is being made in metallurgical development, and the steel industry in both countries is distinctly on the mend. There has been some industrial trouble in Sweden in the iron mines and the wood pulp mills, but at the same time all the steel works have a sufficient stock of pig iron and ore to continue their operations for many months to come. Consequently the strike, unless long protracted, will not affect the output of steel in Sweden. Several of the steel manufacturers in Sweden, most notably Forsbacka and Sandviken, have been very suc-cessful recently in securing large orders, particularly from the continent, for ball-bearing steel, both hollow and solid. Whereas some years ago they ran into-se-rious competition with the German mills, the quality of the steel from these Swedish mills is such that they are now firmly established, and are selling some of the lead-ing manufacturers of bearings on the Continent, as well as automobile manufacturers. The secret of their success seems to lie in a better selection of ores, in more careful control of blast-fur-nace operations and better equipment. Rule of thumb in steel making is taboo, and strict reliance is placed on the laboratory. They are constantly experimenting, and metallurgists and chemists are sent to different countries for study and investigation. In their native ores they have, of course, a unique advantage in pos-sessing iron ores extraordinarily free from phosphorus. At Forsbacka, they are not content with the ordinary chemical analysis of the ingot; but also test the physical properties, as well as make metallographic investiga-tions for slag inclusions, segregations and oxides. In both England and Sweden they watch the nitrogen con-tent of the steel very carefully, a feature which does not appear in the ordinary analysis. In testing carbon, they do not use the color test, but employ an electric .induction device.

Jan 7, 1928

By G. W. Traer

THE distillation of bituminous coals at what is commonly termed low temperature, and the quantities, nature and adaptabilities of the products have been the subject of considerable experimentation, during recent years. Fortunately, the earlier work in this country was done by men whose scientific training qualified them properly to record and interpret the results of-their experiments. The work of Prof. Parr, of the University of Illinois, is especially notable in this respect. Prof. Parr's work, added to that of English experimenters, demonstrated certain things to a degree which is generally regarded as convincing. They have proved that a caking bituminous coal, when subjected to a temperature of not more than 1000° F. (preferably somewhat less) will yield light tar having low specific gravity (about 1.06) and high value; also, that this yield, with a given coal, will depend upon the percentage of hydrocarbons in the coal, the maximum temperature used, and the promptness with which the distillate gases are removed. It is assumed that air is excluded from the retort, and that the coal is subjected to heat for a sufficient time to drive off all of the tarry hydrocarbons. The results attained in the first, or low-temperature stage of the Carbocoal process, recently described by C. T. Malcolmson, corroborate these general principles. It is the purpose of the writer to describe other work of a practical nature, directed toward the commercial adaptation of these principles, which was begun nearly two years ago; this investigation was assisted by A. J. Sayers, of the Link-Belt Co., and Carl Scholz.

Jan 9, 1918

By AIME AIME

SHORTLY after graduation from Girard College, Francis B. Foley found employment in the open-hearth department of The Midvale Steel Co. later joining its research department. After twelve years with Midvale he became a professor in the department of metallography of the University of Minnesota. With the coming of the World War, he was called upon by the War Materials Investigation Committee to work on the manganese problem. In 1918, he took charge of the iron and steel division of the U. S. Bureau of Mines, at Pittsburgh, and. after a year of co-operative study of carbon steels with the late Henry M. Howe, was assigned to the Bureau's stations at Minne-

Jan 1, 1937

By W. D. Klopp, R. I. Jaffee, H. R. Ogden, D. J. Maykuth

The purification of commercial-purity tantalum powder by vacuum sintering in the temperature range 2600° to 2860°C has been investigated. Mixtures of tantalum oxide and tantalum carbide were sintered at 1800° and 2200°C. Tantalum bars containing 1 pct additions of oxygen, nitrogen, and carbon. were sintered in the range 1800° to 2600°C. Anulyses were conducted on the sititeyed mixtures to determine the extent of removal of oxygen, nitrogen, and carbon at each sintering condition. The mechanism for remova1 of each impurity, and the conditions necessary for preparing ductile tantalum by vacuum sintering are discussed. INTEREST in the refractory metals has been stimulated in recent years by the need for structural materials capable of operating at temperatures of 1100°C and higher. These metals include columbium (niobium) (mp 2468°C), molybdenum (mp 2620°C), tantalum (mp 2996°C), rhenium (mp 3160°C), and tung- sten (mp 3415°C). In addition to its high melting point, tantalum possesses the advantages of forming a solid, nonvolatile oxide at temperatures of interest and of being ductile and easy to fabricate. The classic method of consolidating tantalum from powder refined from the ores is by vacuum sintering at temperatures on the order of 2600°C. This sintering treatment both densifies the compacted powder bars and purifies the metal by causing impurities to boil out. The present work was undertaken to provide more quantative data on the relationship between sintering conditions and purity and to determine the mechanisms of impurity removal.

Jan 1, 1961

By Vincent Gianella

Barite deposits are of widespread occurrence in Nevada but there are few pro-ducing properties; most of the latter are in northern Nevada. The production of the state is small at present-in the neighborhood of 15,000 tons annually-but is steadily increasing. The barite occurs in veins and also as replacement deposits in lime-stone. The bulk of the production has come from the replacement deposits. It is thought that the barite was deposited from rising hot waters similar to-and probably contemporaneous with-those responsible for some of the metallic ores of the state. This paper discusses only the deposits in northern Nevada. THE commercial mining of barite did not begin in Nevada until 1916 but although the production has been small there has been a rapid increase in tonnage during the past several years. Barite is widely distributed in the state and production comes from at least nine of the seventeen counties. Apparently this is not generally known, as only two counties are mentioned in a recent publications dealing with barite. The increase in output is due largely to recently discovered barite deposits in northern Nevada. The principal production has come from the northern portions of Lander and Eureka counties; smaller amounts from Elko County. The discussion in this paper is confined largely to the deposits in these counties. Most of the producing area is tributary to the Western Pacific and Southern Pacific Railroads, whose tracks lie along the Humboldt River. Barite is known from other northern counties but so far the production has been small. The output has come entirely from veins and replacement deposits, the latter largely in sedimentary rocks. In general, the barite from veins is white; that from the replacement deposits usually is dark gray to black, although some is light gray or white. Most of the veins contain sulphides and many barite-bearing veins have been worked for their content of base or precious metals.

Jan 1, 1940

By R. T. Bayliss

Although every mill-man of even limited experience in the amalgamation of gold-ores is probably aware that copper plates will in time become coated by the accumulation of gold-amalgam, it may be that many do not know to what extent this accumulation occurs in the treatment of ores dissimilar to those with which they are familiar, and under conditions foreign to those with which they have to contend in any given locality. The writer, therefore, feels relieved from the necessity of offering an apology for dealing with such an elementary subject, believing that certain facts in reference thereto, which have recently come under his personal observation, will be interesting to many, and possibly instructive to some persons engaged in the amalgamation of gold-ores. The facts hereinafter stated were observed in the 50-stamp "combination"-mill, owned by the Montana Mining Company, Limited, of England, operating the Drum Lummon mine, situated at Marysville, Montana. The material treated in this mill consists of quartz and ores of somewhat variable character, containing gold and silver in native form, as well as in chemical union with the sulphides of iron and copper. There is also present a little lead, some arsenic and antimony, and a little zinc. The last fair minerals, however, are of irregular occurrence, and but sparingly distributed throughout the ore, and yield only a trace in the analysis of the average material in this mill. The free gold, which is in a condition of fine division, and rarely visible to the naked eye, carries silver as an alloy; and the native silver, which is only occasionally observed, is present in the richer ores in wireand in leaf-form. Of the two precious metals, the ore worked during the past three years and ten months, the period under review, contained about 1/2-ounce of gold, and from 7 to 12 ounces of silver, per ton of 2000 pounds.

Jan 1, 1897

By C. B. Thwing

IT is likely that among most races, owing to the ease of finding and working clay, the making of clay utensils was learned earlier than the molding of metal implements. The ancients made good pottery and durable brick in kilns that wasted fully one-half the heat and spoiled fully one-fourth of the ware; and, taking the clayworking industry as a whole, we are doing the same today. The chemical and physical changes involved in the burning of clay are so many and vary so much with the composition of the clay that it is not surprising that the rule-of-thumb methods so commonly employed fail to give uniform results. In its passage from plastic clay to the vitreous or stonelike character the mingled minerals and accidental organic impurities of which the clay is blended must pass through four stages, the second and third usually overlapping, and the fourth often beginning before the third is complete. These stages in their order with the rising temperature are drying, dehydration, oxidation, vitrification. In the first part of the drying stage, usually accomplished in part outside the kiln, the water mixed with clay is dried out at temperatures not much exceeding the boiling point of water. In the later part of this stage, within the kiln, the hygroscopic water, absorbed from the air is expelled at somewhat higher temperatures, this stage being known as watersmoking. Some clays are very sensitive to temperature during the drying stage and if the temperature exceeds 100°, the ware becomes checked. Other clays may be dried more rapidly without danger. In down-draft kilns, the draft is slight during the watersmoking stage and the water driven off from the top rows condenses on the ware in the bottom of the kiln, with the result that high temperatures are likely to be reached at the top of the kiln before the bottom is fully dry. The lag in temperature of the bottom persists to the second stage in spite of the better draft then prevailing.

Jan 9, 1919

By David J. Selleck, Eugene P. Pfleider

9.61. Introduction. Open pit mining methods produce more than 80% of all raw materials today in the United States. Much of this comes either from properties that formerly employed underground methods and were converted to open pit or from mines that ultimately must go underground when the economic stripping limit is reached. Generally the ores are transported over large vertical distances and techniques have been developed to do this economically. One approach is to combine conventional surface trucking, over relatively level roads, with the use of gravity and underground facilities. There are various modifications, depending upon the character of the orebody and the topography. Several schemes, as used in Sweden, Canada, and the United States, merit describing. One of the critical problems involved in the transference of ores from surface to underground is that of flow of bulk solids. Must it be crushed? Will it hang up in the transfer? What size and inclination of ore pass are required. How is the ore best fed onto the transporting device underground? As an example, the planning engineers for the Carol Project of the Iron Ore Company of Canada faced these problems in making their designs for the production and transportation of some 55,000 tpd from their Smallwood Mine in Labrador. Other operations, facing somewhat similar conditions, used other approaches of interest. This chapter describes some of the factors involved in the design, construction, and operation of a combination surface underground transportation system as applied to open pit mining operations. 9.62. Tunnel-Ore Pass Systems. The type, shape, dip, and size of the orebody, as well as the surface topographic features, generally estab-

Jan 1, 1968

By W. T. Thom

In previous classifications of coal, it has been customary to regard moisture eliminated from coal samples between 20 and 100 C. as extraneous matter, rather than as a constituent part of the coal. It seems, however, that the physical character and use properties of the low-rank coals are directly related to the amount of such moisture present, and recent chemical work has shown' that such coals contain unstable groupings which decompose between 20 C. and temperatures somewhat above 100" C., with the splitting off of moisture. According to this view, the moisture eliminated from air-dried coal below boiling point is similar in all essential respects to moisture eliminated above 100" C., and is produced by analogous reactions; and inasmuch as the moisture given off above 100" C. has always been treated as a constituent of the volatile matter of coal, it would seem that consistent usage would include as a part of the volatile matter all moisture present as an essential component of the coal as it occurs in nature. As a matter of experience, it seems clear that the general physical and chemical characteristics of the low-rank coals are largely determined by or related to the moisture, whether chemically or physically combined, present in air-dried coal; it is also demonstrable by trial that the low-rank coals cannot be satisfactorily classified on a purely chemical basis by using the moisture free form of analysis. The low-rank coals of the western United States include numerous well-defined types, many of which were referred to in a classification proposed by Ashley,2 in which the physical and use properties of the coals were made the primary basis for their systematic grouping. When testing this classification by replotting analyses of these type coals according to the Seyler scheme of classification,3 a satisfactory parallelism between use properties and chemical constitution of the dry coal was found among

Jan 1, 1925

By Frank G. Norris

Slag control is adjustment of the composition of the slag, especially with respect to the FeO content. The theoretical method of slag control would be to charge a mixture of pig iron and scrap of given composition into the furnace, to melt always at the same carbon, and, after a uniform ore addition, to tap with a constant slag composition. Such conditions are not even approximated. Both scrap and pig iron are of variable, and, in many cases, unknown composition. The charge is oxidized to a variable extent during melting. The result is that the FeO content of the slag, and consequently of the metal at tap, varies over a wide range. In order to make a nearly uniform product, this variation must be compensated for in some way. One way is to adapt the ladle deoxidation to the requirements of the metal. The other is to control the slag. In a general sense slag control may be considered as a method of compensating for variations in the composition of the charge and in oxidation during melting. The method of slag control for low-carbon steel was developed by Dr. Herty at our Butler plant3. Use of this method enables the furnace operator to tap heats at a more nearly constant FeO content and, therefore, to use a more nearly uniform deoxidation practice. The desired FeO and the accompanying deoxidation will depend on the application of the product. This statement implies that 0.10 carbon steel finished with a 15 FeO slag may be essentially different from a 0.10 carbon steel finished with a 30 FeO slag. In making low-carbon steel, the desired carbon places a lower limit on the FeO content of the slag, because the slag must be sufficiently oxidizing for proper carbon elimination. With this degree of oxidation, the phosphorus specification is met without difficulty, and there is little danger of phosphorus reversion. Thus a limiting factor in high-carbon heats is of slight importance in low-carbon heats. For heats of 0.05 to 0.07 per cent carbon, the FeO content of the slag may be controlled at

Jan 1, 1935

By John C. McDonald

The amount of published literature in the field of mechanical properties of magnesium alloys is not great; particularly with respect to rolled alloys. Haughton and Prytherchl have summarized most of the articles to 1937, including their own work on sheet. Although many papers can be found dealing with the technology of magnesium and the alloys now in commercial use, there does not seem to be any work dealing exclusively with the variation in properties of rolled alloys as caused by changes in alloy composition. Comparison of published data reveals considerable discrepancies in properties of alloys of the same composition, probably due to differences in the details of working and heat-treating followed by different workers. The purpose of this paper is to study the properties of alloys in conditions where the effects of such differences have been eliminated. It is well known that the strength and ductility of metals are functions of the working and heat-treating they have received, as well as of their chemical composition. In comparing alloys with respect to these properties, therefore, all possible combinations of the variables of the fabrication procedure ought to be carried out on each alloy. One or more of these treatments mill produce the highest ductility, or strength, or both. These highest properties would then be selected as characteristic of each alloy, and alloys would be compared on the basis of those properties. Thus a separation of the effect of composition and that of workiiig and heat-treating would be achieved. In this paper, however, a compromise with completeness has been made by carrying out a restricted number of treatments. As a consequence, the properties obtained are not necessarily the best that the alloy is capable of exhibiting; but since all alloy3 have been treated by the same method, the results ought to be comparable. The elements selected for the study comprise a class that will alloy easily with magnesium, and that are reblatively cheap. Each was added in different amounts, up to a limit that varied with the element.

Jan 1, 1940

By C. W. Washburne

The waters of many oil fields have been regarded as buried sea water which has been retained in the sediments since the time of their deposition. The preservation of connate water through geological time has seemed improbable to only a few geologists, but there is room for doubt that buried sea water could remain in the strata during their periods of deformation and during the many subsequent epochs of the circulation of meteoric ground-water. Some have even suggested that the calcium chloride water in the deep mines of the Lake Superior region is ancient sea water buried in the Algonkian lavas, but it is hard to understand how such water could be derived from the highly sodic and sulphatic water of the sea. It would seem more plausible to connect the calcium chloride with the highly calcic magmas of the greenstones in which it is found. Chemical analyses of waters associated with oil differ widely from the composition of sea water, requiring extensive alteration of the latter, if the former is truly its derivative. The first notable difference is the general absence of sulphates from oil-field waters, but this has been explained satisfactorily through reduction by hydrocarbons and organic matter. Oil reduces sulphates with the production of hydrogen sulphide (or sulphur), water, and carbonates (or carbon dioxide). The second striking difference is in the high ratio of chlorine to sodium. An examination of the analyses of chloride waters from oil fields shows that they contain a large relative excess of chlorine over that in sea .water. -Moreover, there is difficulty in finding chemical reactions that are probable in nature, by which sea water could be converted into anything like the chloride waters of oil fields. In the latter a large part of the chlorine occurs as calcium and magnesium chloride. This condition might be produced by the removal of sodium carbonate, which, however, cannot be precipitated in the presence of much calcium or magnesium.

Jan 1, 1915

By J. R. Wylie, L. C. Huntley

Drilling for oil in the eastern producing states was fairly active during the first part of 1931, although less so than in 1930. With low prices development declined during the year, until the low prices of the summer resulted in an almost complete shut-down of drilling. This coincided with the action of the Conservation Board of the Pennsylvania Crude Oil Producers Assn, in limiting pipe line runs to 50 per cent of the 1930 normal for the Bradford district and upper country, and to 70 per cent for the balance of the region. Not only was new drilling halted but in many cases oil-producing properties were shut in. In November crude prices were partly restored, and all oil offered was being taken except in the Bradford district which was restricted to 80 per cent of the 1930 normal. During the latter part of the year drilling was being resumed on a moderate scale, and new production indicated a resumption of the proration order. The interest in gas development which has been under way for several years, maintained its supremacy over the search for oil in 1931. New reserves of importance were developed during the year in the Western Kentucky Coal Basin, in the Eastern Kentucky shale gas territory, in Stark County, Ohio, as well as the Oriskany sand development in northern Pennsylvania and central New York. A gas line was completed to the Eastern Seaboard serving Washington and Baltimore, and other lines were under construction designed to serve portions of the territory not hitherto supplied with natural gas. The low price of fuel oil at seaboard is understood to be the deterrent factor against further extension of natural gas lines to these markets at present. The development of these new reserves, as well as those developed by intensive drilling in old areas, resulted in the building up of large potential gas production and a lowering of rates paid to the producer. This, coupled with the country-wide tendency to lower the consumer rates of all public utilities, resulted in a general threat to reopen rate cases before various state commissions. Oil Development The past year was marked only by the almost complete shut-down of new development, reaching its low point during the summer, with its

Jan 1, 1932

By Earl S. Bardwell

In his paper entitled, Development of Hindered-Settling Apparatus, Dr. Richards has related the history of the development of the hin-dered-settling classifier and given illustrations of the several types of this apparatus which he has designed.' An earlier paper,2 Close Sizing Before Jigging, shows the nature of the hindered-settling phenomenon and the results which it produces. In the first-mentioned paper Dr. Richards describes the method of getting hindered settling and shows the relation that the constriction bears to the classifier. The question of proper ratios between the area of the sorting column and the area of the constriction opening Dr. Richards leaves open, aside from certain statements as to the ratios which have been found to give good results in practice. While working with a hindered-settling classifier of the type now in use at the Boston & Montana Reduction Plant of the Anaconda Copper Mining Co. a number of interesting facts were brought out which have thrown considerable light on the question of proper ratio between the area of the sorting column and the area of the constriction and which will be made the subject of this paper. Free and Hindered Settling.—If a mineral particle be dropped into a vessel containing still water, the particle will sink in accordance with the laws of free settling in water, which are as follows: 1. Of two grains having the same specific gravity but differing in size, the larger will settle in still water at the greater velocity. 2. Of two grains having the same size but differing in specific gravity, the heavier grain will settle at the greater velocity. From these laws it becomes evident that the velocity of settling depends primarily on the specific gravity and the size of the mineral grain. The fracture of the mineral may exert a very considerable

Jan 1, 1914

By W. M. Weigel

THE rapid advance, during recent years, in the manufacture of articles that have been in common use for generations and the development of new materials entering into appliances and devices unheard of fifty years ago, have created a demand for some of the more common non-metallic minerals. To supply this demand there has quietly developed a branch of the mining industry of which little is known by most mining engineers the mineral-filler industry. In this paper, and generally in the trade, the term mineral filler is applied to a mineral used, in its natural state after mechanical preparation only (such as. grinding, milling and washing), without undergoing any chemical change and without exerting any chemical action on the substance with which it is incorporated. The consumption of mineral fillers is confined chiefly to large manufacturing centers in the eastern and northern states. Where available, materials originating near the place of consumption are used, as most fillers bring a comparatively low price and, frequently, the freight may equal the cost of the finished filler at the mine. The southern states have abundant deposits of non-metallic minerals suitable for fillers, which supply the manufacturing industries in adjacent states. Many of these deposits are equal to, or superior, in quality to those mined in the north, but they can not compete with them because of the freight rates. The mineral-filler industry has felt the present depression, but it has suffered less than most mining industries for as a rule the mills are simple, the overhead expenses are low, and the labor is entirely local and can revert to farm work when the plant closes down. Many other deposits in the southern district will undoubtedly be developed when business. revives and freight rates are adjusted.

Jan 2, 1922

By D. Harrington

ONE of the main functions of the United States Bureau of Mines is to obtain and disseminate information that will promote safety in and around mines, and the health and safety of employees engaged in mining. Serious health and safety conditions arising out' of contamination of air in metal mines by dust, fumes from explosives and fires, and absorption of oxygen by timber and other causes, led the Bureau of Mines to cooperate with the United States Public Health Service in the study of dust occurrence and ventilation in metal mines in various parts of the country. Dr. A. J. Lanza, of the U. S. Public Health Service, and Edwin Higgins, mining engineer of the U. S. Bureau of Mines, in 1915, made a detailed study in the mines around Joplin, Mo., their reports1 are now available. In 1916, 1917, and 1918, a similar study was made in the Butte, Mont., region by Doctor Lanza and D. Harrington, mining engineer of the Bureau of Mines; the reports of this investigation will be available soon. In 1919, the study was continued in some of the Arizona mines by D. Harrington, of the Bureau of Mines, and G. E. McElroy and Dr. R. A. Koronski, of the U. S. Public Health Service, the underground work being completed in June, 1920; these reports are now being prepared for publication. In the spring of 1920, the scope of the work was extended, with D. Harrington in charge as supervising mining engineer, and short studies made in the mines of the Coeur d' Alenes in Idaho and around Oatman, Ariz. It is hoped soon to extend the work into mines of California, Nevada, Colorado, Michigan, and Minnesota, and ultimately to other states should the mining companies be willing to cooperate.

Jan 2, 1921

By Frank G. Norris

Slag control is adjustment of the composition of the slag, especially with respect to the FeO content. The theoretical method of slag control would be to charge a mixture of pig iron and scrap of given composition into the furnace, to melt always at the same carbon, and, after a uniform ore addition, to tap with a constant slag composition. Such conditions are not even approximated. Both scrap and pig iron are of variable, and, in many cases, unknown composition. The charge is oxidized to a variable extent during melting. The result is that the FeO content of the slag, and consequently of the metal at tap, varies over a wide range. In order to make a nearly uniform product, this variation must be compensated for in some way. One way is to adapt the ladle deoxidation to the requirements of the metal. The other is to control the slag. In a general sense slag control may be considered as a method of compensating for variations in the composition of the charge and in oxidation during melting. The method of slag control for low-carbon steel was developed by Dr. Herty at our Butler plant3. Use of this method enables the furnace operator to tap heats at a more nearly constant FeO content and, therefore, to use a more nearly uniform deoxidation practice. The desired FeO and the accompanying deoxidation will depend on the application of the product. This statement implies that 0.10 carbon steel finished with a 15 FeO slag may be essentially different from a 0.10 carbon steel finished with a 30 FeO slag. In making low-carbon steel, the desired carbon places a lower limit on the FeO content of the slag, because the slag must be sufficiently oxidizing for proper carbon elimination. With this degree of oxidation, the phosphorus specification is met without difficulty, and there is little danger of phosphorus reversion. Thus a limiting factor in high-carbon heats is of slight importance in low-carbon heats. For heats of 0.05 to 0.07 per cent carbon, the FeO content of the slag may be controlled at

Jan 1, 1935

By John C. McDonald

The amount of published literature in the field of mechanical properties of magnesium alloys is not great; particularly with respect to rolled alloys. Haughton and Prytherchl have summarized most of the articles to 1937, including their own work on sheet. Although many papers can be found dealing with the technology of magnesium and the alloys now in commercial use, there does not seem to be any work dealing exclusively with the variation in properties of rolled alloys as caused by changes in alloy composition. Comparison of published data reveals considerable discrepancies in properties of alloys of the same composition, probably due to differences in the details of working and heat-treating followed by different workers. The purpose of this paper is to study the properties of alloys in conditions where the effects of such differences have been eliminated. It is well known that the strength and ductility of metals are functions of the working and heat-treating they have received, as well as of their chemical composition. In comparing alloys with respect to these properties, therefore, all possible combinations of the variables of the fabrication procedure ought to be carried out on each alloy. One or more of these treatments mill produce the highest ductility, or strength, or both. These highest properties would then be selected as characteristic of each alloy, and alloys would be compared on the basis of those properties. Thus a separation of the effect of composition and that of workiiig and heat-treating would be achieved. In this paper, however, a compromise with completeness has been made by carrying out a restricted number of treatments. As a consequence, the properties obtained are not necessarily the best that the alloy is capable of exhibiting; but since all alloy3 have been treated by the same method, the results ought to be comparable. The elements selected for the study comprise a class that will alloy easily with magnesium, and that are reblatively cheap. Each was added in different amounts, up to a limit that varied with the element.

Jan 1, 1940

By Barnabas Bryan

During the boom period of 1928 and 1929, several oil companies took advantage of high security prices to sell stocks, thereby securing money for the company very cheaply. Few if any of those companies realized that the money received was not at all cheap in view of the fact that it was for investment in fixed assets at inflated prices. Suppose a company borrowed twenty millions of dollars to expand its marketing facilities during the boom. It diluted its capital and acquired fixed property which could not earn its interest requirements during the following deflation and therefore consumed income from other company activities. The company also had to stand the deflation in the capital value of all the property it bought. Since the mistaken expansion during the boom accelerated the decline in net income during deflation, the financial position of the company was harmed in proportion to the amount of that expansion. Thus the company was unable to get money to buy fixed assets in the depression when all property is cheap. The same condition holds for the company that sold common stock for the purpose of developing potential production in a newly discovered oil field. Regardless of what the ultimate value of the new field may be, potential production does not increase the net income of the company. The difficulty of meeting the enlarged dividend requirements due to the increased number of shares outstanding impairs the financial position of the company during deflation in some relation to the probability of decreased dividends. This company also is not in a position to expand during the depression when properties and companies can be bought for a fraction of their real value. Expansion of fixed assets during boom times has been the ruin of many otherwise good companies. Some of those which most extensively bought property during the post-war boom have not yet recovered. A number of cases could be cited in sugar, leather, fertilizer and wool. This does not seem to be governed by the quality of the property bought, for examination shows the assets to have been of individual high quality in many cases. When recovery is long deferred it is likely to be true, as in sugar or textiles, that the industry has a large "potential" capacity for overproduction.

Jan 1, 1931

By AIME AIME

This volume, in the preparation of which all former annual or collective indexes have been not only compiled but revised, is published for the special benefit of all who do not possess complete sets of the Transactions. And it is published at this particular time, as part of a plan by which it is hoped that the Library of the Institute, which, through liberal donations, has become unexpectedly comprehensive and valuable, may be made useful throughout the world. Thus, any person possessing this Index can ascertain at once what has been published in the Transactions on a given question, and can learn, by writing to the Secretary, what is its nature, whether it is still to be had in pamphlet form, where it can be consulted in a public library, at what cost it can be copied by hand, etc., etc. In short, to those who own complete sets of the Transactions, this Index will be a great convenience; but to those who do not, it will be a professional necessity. The edition now in press is limited, and orders received will be supplied according to date.

Jul 1, 1907