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Jan 1, 1968

Jan 1, 1969

By Frederic Benard

PRIOR to 1936, the Ontario Refining Co. received all incoming blister copper from The International Nickel Company's smelter in the usual form of 460-lb. cakes, or slabs. These were received in open cars in lots of 250 pieces. At the refinery the cakes were unloaded onto narrow-gauge cars, for convenient handling and pickup by charging cranes. In March 1936, an investigation was started on the feasibility of transferring converter copper in the molten state from the smelter to the refinery anode furnaces, a distance of 1 ¼ miles. Although common in steel practice, the transportation of blister copper in this form had not previously been attempted and a preliminary study of the various factors involved was therefore necessary. For this purpose, a series of experiments was made in which molten copper, removed at different stages during the furnace cycle, was held in a small portable holding furnace. This vessel was essentially a refractory-lined steel cylinder provided with ports for filling and emptying, heated by an oil burner. Dimensions of the steel shell were 3 ft. 10 in. diameter by 7 ft. 3 in. long, and thickness of refractories depended on the design and combination used for the particular experiment. The vessel was filled with approximately 2 ½ tons of copper at a predetermined temperature, the lining having been preheated to a definite point by means of an oil burner. All openings were well luted and temperature readings were made every 15 min. by means of an immersion-type thermocouple. In this manner the rate of heat loss resulting with different refractory design could be developed. The ratio of exterior surface to weight of metal was taken into consideration in comparing the experimental results with what might be expected for a full-sized unit, and observations were also made on type and degree of slag accretion. It was not possible to get as much information on this latter point as desirable, but all evidence showed that the problem would be control of slag build-up rather than attack on refractories. From the information derived, and in consultation with the engineering staff of the supplying company, an order was placed for the first

Jan 1, 1938

By Fred D. Wright, Philip B. Bucky

FOREWORD By E. D. Gardner[$] THE present known petroleum reserves are limited, and unless important new fields are discovered the Nation will be dependent, in the not too distant future, upon imports or upon synthetic liquid fuels to supplement domestic petroleum supplies. As a national defense measure, it would appear desirable to develop a substitute source of liquid fuels within the borders of the country if new discoveries of petroleum should prove disappointing. Congress undoubtedly had this in mind when it passed the Synthetic Liquid Fuels Act (78th Congress, approved April 5, 1944). The act directed the Bureau of Mines to construct and operate demonstration plants for producing synthetic liquid fuels from coal and oil shale, and from forestry and agricultural products. As a part of this program, the Bureau of Mines has built a demonstration plant at Anvil Points, near Rifle, Colo., for retorting the oil shale, and has developed a mine to supply the plant with oil shale. At the beginning of mining operations, the physical qualities of the oil shale, which would have a bearing upon the selection of mining methods and practices for exploiting the deposits, were largely unknown. A comprehensive mining-research program has been set up to determine the best methods and practices to follow to obtain the lowest overall practicable mining cost for producing the oil shale on a large scale. Unusually low mining costs will be necessary for shale oil to be produced commercially. Consideration now is being given to exploiting a series of flat-lying beds 70 ft thick by a room-and-pillar method of three benches with the advance heading at the top. This report is one of a series giving the results obtained in research on mining problems. INTRODUCTION The structure and physical qualities of the oil shale indicate that the 70-ft interval of the oil-shale measure can be safely mined in open stopes; studies indicate that this method would be the most economical one to use.1 As labor will be a major item of expense, the largest equipment that could be operated efficiently in the workings would be required to obtain the lowest practicable mining cost. It was therefore desirable to know the maximum safe span of unsupported rooms and the size of pillars necessary to support the overburden. This paper describes the work done at the Columbia School of Mines Barodynamic Laboratory in determining the maximum safe unsupported roof spans and the minimum safe pillar dimensions for the oil-shale mine at Rifle, Colo.

Jan 1, 1947

By W. F. Rochow, W. C. Burke

Numerous designs of linings and accessories, including dams, lifters, and heat exchangers, contribute greatly to kiln efficiencies. Greater conductivity is achieved with basic brick than with fireclay and high-alumina refractories, depending largely upon the use of steel plates in radial joints between adjacent brick to increase heat transfer through the lining. Refractory lifters expose all portions of the load to radiant or convective heat and raise some portions to higher temperatures by cascading the load down through the path of the hot gases.

Jan 3, 1955

The pellet plant, built by Dravo Corp, in Groveland, Mich., for the Hanna Mining Co., is now in full operation. Although using jasper, a type of iron ore with low iron content (approximately 28% Fe), the plant has a rated capacity of 1,250,000 tans of pellets per year. In its four years of existence, the nearby concentrating plant has seen its capacity increase from 700,000 tons to 1,500,000 tons a year as part of a major expansion program at Groveland. Utilizing the Dravo-Lurgi continuous grate process, the pellet plant produces %a-in. pellets of more than 60% iron content. The fully-hooded pelletizing grate, largest in the U.S., is 9 ft. 10% in. wide and 223 ft. 1% in. tong over 34 windboxes, with an effective hearth area of 2195 sq. ft. Drying, firing, and cooling functions are all carried out on this single piece of equipment.

Jan 4, 1964

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By James J. Halbouty, Michel T. Halbouty

Drilling activity in the South Texas area, which includes the South Corpus Christi and Laredo districts, showed a marked decline during 1941 from that of the preceding year. The rate of new discoveries, however, 'compared favorably with exploratory results of 1940 because of the many new productive sands opened in existing fields. South Texas completions for 1941 were about 12.3 per cent below the 1940 figure, compared with an increase of approximately 5.5 per cent in the total number of completions in the United States during 1941 over the 1940 total. During the year, 1452 wells were drilled in this area; of these, 1205 were drilled in or as extensions to the proven fields, and 247 were rank wildcats drilled in search of new producing pools. The comparable 1940 figures were: 1320 field or extension wells and 336 rank wildcats, a total of 1656 completions. This represents a decline in 1941 of approximately 8.7 per cent in proven-area wells, and of about 26.5 per cent in rank wildcats. It must be stressed that wells that were considered rank wildcats at the beginning of operations, but which opened production later classified as additions to existing fields, are not regarded as rank wildcats in this and previous annual reports on this same area. These wells are classified as semiwildcats (Table 2). There were 13 new oil or distillate fields and 4 new gas areas opened during the year, as listed in the next column. This listing represents a decline of 32 per cent from the 25 new areas found during the previous year, and to a great extent can be attributed to the 26.5 per cent decline in wildcatting. The rate of new discoveries based on the 247 wildcats was 14.5 to I, which compares somewhat unfavorably with the 13.4 to I ratio obtained in 1940 (Table 5). Dry wildcats totaled 230. The proof of the prolific character of the South Texas area as a source of petroleum reservoirs is to be found in the fact that of the 1205 field or extension (semiwildcat) wells completed during the past year 61 opened production from new sands or found crude in formerly distillate-producing sands. The 1940 total of 1320 such wells accounted for 50 horizons that provided either new production or crude in distillate sands, and in this respect the 1941 rate of discovery shows to greater advantage, the ratios for new sands being 19.7 to I for 1941 and 26.4 to I for 1940. The 1205 field or semiwildcat wells completed in 1941 resulted in 926 oil or dis-

Jan 1, 1942

By Charles De Witt

The ore treated at the reduction plant (called Yangdei) of the Chiksan -Mining Co., Korea, is brought from four of the company mines, and from the small tribute mines. The largest shipments conic from Sajunkohl mule, situated about a mile and a half from the mill (Fig. 1). The ore is quartz of medium hardness. The overage assay value in gold is $6.95 per ton. At the mine the ore is put into bin,, and is Mien trammed over an 8 per cent. grade to the tipple bins above the mill, where the ore is drawn through the hull holes as desired. The capacity of the tipple bins is about 3,500 tons. On, from Moonsukohl, Chung Tarrie, Yang Chun, and the tribute mines is brought in by bulls and bull wagons. The bulls carry from 350 to 800 lb.; the average wagon load is about 1,200 lb. (Fig. 2). One shovelful of ore out of every ten is taken as a sample. Considerable ore

Jan 5, 1915

The following record of the important responsibilities already shouldered by Dr. Ricketts will give some indication of the trust and confidence reposed in him by his colleagues. The Institute is to be congratulated that a man who is already so much engaged should be willing to assume the further responsibility of guiding the Institute's Ship of state during the ensuing year. Louis Davidson Ricketts, who is brother of Professor Palmer or Chamberlaine Ricketts, President of Rensselaer Polytechnic Institute, was born at Elkton, Md., Dec. 19. 1859, was graduated from Princeton University in 1881 with the degree, Bachelor of Science, chosen a Fellow in Chemistry and W. S. Ward Fellow in Economic Geology, and after two years' study given the degree Doctor of Science. Following the completion of Iris work at Princeton, Dr. Ricketts went to Colorado and started to work as a mine surveyor. For the 15 years following, his time was chiefly occupied in reconnaissance work, geological work and mine examination. From 1887 to 1890 Dr. Ricketts was Geologist for Wyoming, and at, the end of that period transferred his operations to the Southwest. where he has since been steadily engaged in large mining projects. He was identified with the acquisition of the property now owned by the Moctezuma Copper Co., a , subsidiary of Phelps, Dodge & Co., at Nacozari, Sonora, Mex. From 1899 to 1901 he was General Manager of the property and during his administration the concentrator and reduction works were completed and the mines put on a dividend-paying basis

Jan 3, 1916

By G. Thodos, R. B. Grieves

A method has been developed for the accurate calculation of the cricondentberm and cricondenbar temperatures of multicomponent hydrocarbon mixtures of known composition. The mixtures may contain any number of components including paraffins and isoparaffins, olefins, acetylenes, naphthenes and aromatics. This approach is based upon the mole fraction of the low-boiling component in the mixture and graphically presents the ratios of the cricondentherm and cricondenbar temperatures to the pseudocritical temperature as {unctions of a boiling-point parameter. The only requirements are the critical temperature, normal boiling point and the approximate vapor pressure behavior of each component. For mixtures of more than two constituents a stepwise calculation procedure is necessary where the pseudocritical temperature is based upon the critical temperature of the pure low-boiling component and upon the actual cricondentherm or cricondenbar temperature of the mixture of all the remaining higher-boiling components. From an analysis of 22 binary systems (123 compositionsl, the average deviation of calculated cricondentherm temperatures from reported values is 0.87 per cent, based on degrees Rankine; and for 10 multicomponent mixtures containing from three to six components, the average deviation is 0.98 per cent. From an analysis of 18 binary systems (104 compositions) the average deviation of calculated cricondenbar temperatures from reported values is 0. 79 per cent; and for 15 multicomponent mixtures, 1.47 per cent. Equations, derived from the graphical relationships, are presented which enable rapid calculations for both binary and multicomponent systems. INTRODUCTION With the increasing tendency towards the use of high pressure processes, the need for an accurate method of calculation of the properties of a multicomponent hydrocarbon mixture in the critical region is becoming more essential. Critical region phase relations are also significant in gas condensate reservoirs, for which a knowledge of the fluid phase boundaries and regions of retrograde condensation make it possible to evaluate optimum operating conditions. The possibility of liquefaction in the underground structure may be established, and information on the feasibility of the use of repressurizing may be determined. A typical phase diagram for a multicomponent hydrocarbon mixture is presented as Fig. 1. This figure also shows the regions of retrograde behavior encountered by following lines AB and AC. If accurate methods of calculating the temperatures and pressures at the critical, cricondentherm (maximum temperature) and cricondenbar (maximum pressure) points of multicomponent hydrocarbon mixtures of known composition were available, it would be possible to estimate closely the entire phase diagram of any mixture. Several methods have been presented in the literature for the estimation of the critical temperatures and pressures of multicomponent mixtures containing all types of hydrocarbons and including the fixed gases.4-8,21 Considering the cricondentherm and cricondenbar points, the work is more limited. Etter and Kay5 have developed rather complex equations for

By F. Keller, E. H. Dix, L. A. Willey

The consideration of alloying elements for aluminum has led to a series of investigations of the equilibrium relations between aluminum and those alloying elements. Therefore, the aluminum end of the aluminum-antimony diagram has been studied. The general form of the aluminum-antimony equilibrium diagram has been worked out by Campbell and Mathewsi and by Tammann.2 Canlpbell and mathews described principally the beginning of solidification. They found the curve of beginning of solidification rising gradually from the melting point of pure alunlinum to a maximum at about 67 per cent. aluminum. After a slight lowering of the curve at a little greater antimony concentration the curve again rises to a maximum at 18.4 per cent. aluminum, which corresponds to the compound AISb. The curve then drops to the melting point of pure antimony. Tamrriarln explained the maximum occurring at about 67 per cent. aluminum as the result of the slow formation of the single compound AISb. The space lattice of the compound AISb, according to Owen and Preaton,³ is face-centered cubic, the antimony atoms being intermeshed with an identical aluminum lattice. Very little, if any, work has been done on aluminum alloys containing small amounts of antimony. The Present Investigation It has been the purpose of this investigation to determine the solid solubility of antimony in aluminum and also to investigate the eutectic temperature and concentration. The experimental work has been carried out in a manner similar to that described in a previous paper4 from this laboratory.

Jan 1, 1931

By E. A. Gulbransen, J. W. Hickman

DURING the past two decades considerable progress has been made in the art of manufacturing heater alloys. The conventional iron-chromium-nickel alloys have been improved by the addition of small quantities of other elements. Up to the present time, to our knowledge, there has not appeared a systematic study of these alloys where the newer tools of investigation have been brought to bear on the problem. It is not yet clear what roles the additional elements play in increasing life time in usage. As a first approximation one might guess that elements such as manganese, silicon, zirconium, calcium and aluminum would aid in the formation of a protective film on the alloy surface, thus retarding the oxidation rate and increasing lifetime. If these additional elements do form protective oxides in the outer surface of the oxide film, it may be possible to identify them by means of reflection electron diffraction. It is also possible that the additional elements may not diffuse to the surface but may remain at the interface between the oxide and the metal. Then, too, the major elements in the alloys undoubtedly form oxides which are stratified on the surface. If the minor elements concentrate in a layer in contact with the substrate where they undergo oxidation and if this oxide film offers resistance to the diffusion of iron, chromium and nickel ions, then the lifetime of the heater element might be expected to increase. It is also possible that preferential reduction in the diffusion rates of the several ions may Occur to such a degree that oxides may form in the body Of the film and On the outer surface which are different from those that would normally form if the additional elements were not present. The use Of transmisson electron diffraction may aid us in jnterpreting these phenomena. UP to the Present time all Of the factors which influence the lifetime of a given heater element are not definitely known. Among these are: (I) The rate of oxidation of the alloy. This may be dependent upon the composition and the physica1 state of the "alloy. (2) The stability of the structure of the coating which forms. Transitions from one structure to another or solid phase reactions resulting in a change of composition may occur. The tendency of the film to adhere to the substrate when heated and cooled successively will be important. (3) The evaporation of various constituents from the alloy such as the remova1 of carbon by Oxygen in a decar-burization reaction. With these possibilities in view, an electron diffraction study of the oxides occurring on six different nickel-chromium alloys was undertaken with the hope that the results of this study could be correlated with oxidation rate studies as determined by means of the vacuum microbalance method1 and with lifetime tests carried

Jan 1, 1949

By R. W. Vieth, S. A. Bradford

THE orientations of tetragonal tin crystals are commonly examined by either the transmission Laue method or the back-reflection Laue method. The predominant planes and zone axes of the pattern are plotted on a Wulff net and indexed by measuring the angles between planes and directions. The problem of identifying the Laue spots has been approached in several different ways. Nicholas 1 tabulated interplanar angles for ten planes but did not relate the angles to permutation of indices or sign. A table of angles between adjacent planes and of angles between adjacent zones was published by Chandrasekhar and veal.' These tables are very helpful, provided the film shows all the low-order zones that occur within about 20 deg of each other. Frounfelker and Hirthe's compilation3 of angles between the (001) plane and twenty-nine other planes is useful for the indexing, only if the (001) spot can be found on the film. For all but the simplest orientations, however, more information is needed to index the diffraction spots. Standard stereographic projections, such as those published by Bicelli, 4 provide part of the information required. By their nature, these projections show the positions of only a few zone axes. In the tetragonal system many low-order zone axes are not normal to the planes having the same indices. Consequently, planes and directions can have entirely different positions on a stereographic projection. For example, the [011] zone axis is 33 deg from the normal to the (011) plane. The crystallographic orientation usually has to be deduced from a combination of the predominant zone axes and a few low-order planes that appear on the film. In addition to a standard stereographic projection of the planes, a stereographic projection of the directions is needed. Such a projection can be constructed from the angles given in Table I. To provide more information about angles between planes and directions, we have calculated interplanar angles up to (332) and angles between planes and directions up to [332] on an IBM 1620 computer. The angles are differentiated according to permutations of sign and indices. Those doing research on tin single crystals are welcome to request a copy of these tables from the authors.

Jan 1, 1967

Low Zinc Prices Close Alcoa Mine Alcoa Mining Co., announced that it will suspend operations at its Hutson mine, near Salem, Ky., because of low zinc prices, January 15. The Aluminum Co. of America subsidiary announced that the low market has made zinc mining un- profitable. About 70 men were employed at the mine, with a production of about 5000 tons of zinc annually. Alcoa said the shutdown would not affect other company operations, with most of the men at Hutson absorbed in the mining firm's fluorspar operations in the same area.

Jan 2, 1953

By L. Adler

Two basic cases involved in the design of an opening in bedded rock are: 1) where the beds deflect from each other so as to be separated; and 2) where the beds deflect onto their lower neighbor, loading the latter while reducing their own load. Analysis of case 1 is relatively simple, while the interference of the original deflection curves in case 2 complicates analysis of the latter. Figures and formulae are presented for determination of interference loading in this situation. The design of an opening in bedded rock involves two basic alternatives.1'2 In one case the beds deflect away from each other, so as to be separated from their neighbors; in the other case the beds deflect onto their lower neighbor, loading it, while reducing their own load. This is shown in Fig. 1. The first case lends itself to a simple analysis, since the upper and lower boundaries of each beam remain a free surface. In the latter case, however, due to the interference of original deflection curves, the analysis is more complex. Earlier investigators of this interference problem solved it by making the tacit assumption that this type of loading was uniformly distributed along the beam's length. While there is no intuitive justification for this assumption, its use does lead to an approximate solution. Still, a more exact solution does not require this apparently unrealistic restriction. To achieve initial simplicity, the analysis will at first be limited to a two-bedded sequence, as in Fig. 2. Since both beams have identical end conditions and spans, the original deflections of their center lines are members of the same family of curves, as shown in Fig. 3. Therefore, if interference occurs at one point along their center lines, it will occur at every point. For convenience, the midspan point is that usually examined. Deflection at midspan for a uniformly loaded beam regardless of end conditions is: where c is a constant depending on end conditions; w is the body load and equals yh, lb per ft; y is the specific weight of rock, lb per ft'; L is the span, ft; E is Young's Modulus, lb per ft2; I is moment of inertia (for a rectangular section), I = bh3/12 = h3/12, (ft4); b is the width of beam and equals one; and h is the thickness of beam, ft; or 3U > yB an Substituting the appropriate values into Eq. lb, interference between the two beds can be predicted. Should it occur, the additional loads along the lower boundary of the upper bed and the upper boundary of the lower bed must be determined. From the principle of action and reaction, these added loads are known to be equal and opposite, as indicated in Fig. 4. Since the final deflection curves for both beds are identical (Fig. 3), their successive derivatives of y with respect tox must also be identical. That is:

Jan 1, 1961

By Jack G. Gill, Richard A. Dick

Blasting safety is a subject that cannot be overemphasized. Two years ago, a study was published describing g a series of fatal blasting accidents which took the lives of ten metal and nonmetal miners during the period of May 1973 to August 1974.1 Each accident was described, and the direct causes were delineated. In each instance, specific MESA safety regulations were violated. Four of the victims were killed by drilling into explosives; two were killed by lingering too long in the vicinity of fuse rounds; two fatalities resulted from improper guarding of shots; one blaster did not retreat far enough to avoid the blast concussion; and another used an improper tester for checking an electric blasting cap. All of these fatalities could have been avoided by adhering to the MESA blasting regulations contained in 30 CFR Part 55 (Health and Safety Standards-Metal and Nonmetallic Open-Pit Mines), Part 56 (Health and Safety Standards-Sand, Gravel and Crushed Stone Operations), and Part 57 (Health and Safety Standards-Metal and Nonmetallic Underground Mines).

Jan 11, 1977

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By G. Reinberg, C. D. Clarke

Most underground mining operations are dependent on pumping installations to keep the mine unwatered. The reliability of such installations is obviously of paramount importance. The volume of water to be handled is often considerable, and the total head is relatively high. In these cases, both capital cost and operating expense of the pumping installations will become significant factors in overall mining costs. To insure reliability and to keep efficiencies, and hence operating costs, within acceptable limits it goes without saying that mechanical maintenance of a mine pumping installation must receive scrupulous attention at all times. Large mine pumping installations today almost invariably use multistage centrifugal pumps, since positive-displacement units would not be economically competitive except under very unusual conditions of small volume combined with extremely high heads. Centrifugal pump maintenance, under ideal circumstances, would be confined to parts subject to normal running water, i.e., bearing surfaces, stuffing box packing, and shaft sleeves. Under adverse conditions, however, metal may be lost from the wetted surfaces of a pump by erosive or corrosive action of the pumped fluid, and maintenance costs can easily attain enormous proportions.

Aug 1, 1956

By Stanislaus Skowronski

OVERPOLED copper, as commonly defined, is copper which has been excessively reduced during the poling period of the refining process. Owing to its porosity, such copper is unfit for commercial purposes. The cause of this phenomenon is undoubtedly the lack of oxides in the copper, yet this does not completely explain it. Refined copper of the same "pitch" and "set" varies considerably in oxygen contents, and analyses of overpoled bars also show similar wide differences; moreover, it is possible to melt copper in crucibles so as to obtain bars that are practically free from oxygen although they show a "tough pitch" and "level set" surface. Frederick Johnson advances the following theory: The regulation of the quantity of oxygen in copper is the keynote of all copper refining. It is the presence of a Well defined proportion of oxygen in the form of cuprous oxide, forming a copper-cuprous oxide eutectic, Which enables copper to be cast free from blowholes. It seems that When oxygen is present, other gases are less soluble in molten copper; When oxygen is absent, or is present in insufficient quantity, the copper dissolves other gases, such as hydrogen and carbon monoxide, Which are insoluble in the copper when solid, and, being rejected during the process of solidification, causes internal porosity and external ridges and excrescences.1 The "level set" of Wire bars, etc., is entirely the result of a compromise between the occluded gases and cuprous oxide. With excess of the former the metal would be "overpitch" and spongy, While an excess of the latter would result in the metal being "underpitch" and brittle.2 The result of the absorption and subsequent expulsion of reducing gases, carbon monoxide and hydrogen, and the effect of this action. on the overpoling of copper are in dispute; the literature on the subject is full of contradictory statements and will continue to be so until better analytical methods have been developed. Sulphur, however, is tangible. The refiner can see it in his button sample and consequently attributes to it any trouble that may happen during the melting of the copper.

Jan 3, 1918