Search Documents

By John K. Hammes

INTRODUCTION This introductory paper presents a description and definition of what the finance function is and what it specifically means for the mining industry. In its simplest terms, finance is, "management of money matters". As an area within the discipline of business administration it draws heavily on the related fields of economics and accounting, and to a lesser extent on marketing and production. MINING FINANCE DEFINED In preparing to write about what finance means to the mining industry, I asked a number of mining people the question, "What does mining finance mean to you?" Most responded that mining finance was "How a company borrowed money for mine development", and perhaps half those questioned included "raising equity" in the definition. It is not surprising that the mining industry concept of finance is the providing of funds needed for the objectives of the business, for that was once a view shared by authorities in the field of business administration. Further, it is certainly the area where much of the emphasis has been placed in the past ten to fifteen years as the industry struggled with the development of more remote and more refractory or lower-grade orebodies while profitability and internal cash flow were below expectations. No wonder project finance became such a popular topic. Twenty years ago it is probable that the emphasis would have been on mine valuation, for that subject was the area of finance then most often examined in industry publications. Papers concerning the pros and cons of payback, internal rate of return, and discounted cash flow appeared regularly. Let's examine the following situations, each the result of a financial decision: - Funding the exploration program in a developing country was accomplished by buying the next six-months budget needs in local currency. One week later the currency devalued 30 percent. If the purchase had been delayed or the local currency borrowed short term, a substantial saving would have been made in funding the program. - A major mining company borrows heavily to finance both expansion of its primary mining business and its entry into several new industry segments. When markets for all of the commodities it produces turn down for a prolonged period, there is concern over the adequacy of cashflow to cover debt service in addition to other company needs. The company's financial officers, however, had arranged very large committed credit facilities from numerous financial institutions which assured the availability of funds for several years. This enabled the company to implement a strategy to conserve cash, sell assets and survive until conditions improved. Further, short term suppliers of credit also were comfortable with the assurance that longer term credit was there to support them. -A medium size mining company financed several mines independently with limited obligations on the part of the parent company. The company decided to refinance the operations under one agreement. More flexible terms, lower interest cost and a longer tenor financing were achieved in return for assuming the risk as a direct obligor. - The exploration and development group of a large mining company proposes to develop a new mine in a country in which the company does not presently operate. When the investment is rejected they are advised that one reason was that the reinvestment assumption inherent in the discounted

Jan 1, 1985

By B. L. Thane

Within the past few years, the mining industry has taken a new impetus in all its branches. New mines are being opened every day, while old ones, which have been either working at a loss, or have been compelled to shut down, are now gradually being reopened and placed on a paying basis. This growth and new life is due, in a measure, to the discovery of new mining districts, but the most important cause of the progress is the wonderful advance that has been made in all branches of mine-engineering. By means of the important inventions and discoveries that have been made in mechanics, chemistry, and electricity, we are now able to work ores which, only a short time ago, would have been regarded as worthless. We find, for instance, the electrician eliminating two of our greatest difficulties, those of distance and superior elevation, while the mechanic has brought to the highest degree of perfection, not only ore-crushing and hoisting machinery, but all such devices as pertain to the mechanical handling of ores, and, at the same time, the metallurgist, with his combined chemical and mechanical skill, has helped us to extract the precious metals from the most refractory of ores. But when we turn to examine methods in actual use for

Jan 1, 1900

By Enid C. Plante

To extend our knowledge of the flotation behavior of sulphide minerals, the response of the following minerals to ethyl xanthate as collector was studied by captive bubble and cylinder flotation tests: antimonite (Sb2S3), arsenopyrite (FeAsS), covellite (CuS), rnarcasite (FeS2), orpiment (As&.), pyrrhotite (FeS) and tetrahedrite (4CU2S, Sb2S3). Lollingite (FeAs2) was also exarnined to determine if its behavior could be correlated with that of pyrite or rnarcasite (FeS2. Experimental Method Mineral for Flolation and Contact Tests Mineral was prepared in the manner a1ready described1 and its behavior both freshly ground and "oxidized" was studied. Tests in which the mineral was allowed to oxidize for various periods showed that a uniform response to xanthate was reached in two days or less. Oxidation Products The soluble oxidation products from most of the above minerals were measured and their effect on the flotation of the mineral studied. The mineral samples were wet ground to minus-52 mesh and deslimed, and 20 g of this material placed in 200 ml of distilled water of a measured pH value, and CO2-free air bubbled through each suspension at a constant rate (about I bubble/sec) for 5 days. It has been shown1 that the size of the mineral is unimportant in the rate of formation , oxidation products and that probably the supply of oxygen to the mineral is the rate-determining step. At the end of 5 days the pH value of the 'supernatant liquid was measured again, the mineral filtered off and the soluble products determined. Methods for estimation of sulphur acids, ferrous and ferric iron and copper have already been described.l No satisfactory method was found for antimony. Arsenic was estimated as the arsenate.2 Flotation of "Unoxidized" Minerals with Ethyl Xanthate as Collector Fig I to 3, 4. 6, show the effect of alkali and cyanide as depressants for the minerals with 25 mg potassium ethyl xanthate per liter as collector at 35°C. Wark and Cox8 have shown that with ethyl xanthate as collector, galena, pyrite and chalcopyrite show a greater tolerance to cyanide and hydroxyl ions at room temperature than at 35°C Covellite (Fig I), marcasite (Fig 2) and pyrrhotite (Fig 3) behave similarly. The independence of the curves for pyrrhotite at 35°C with respect to cyanide

Jan 1, 1949

By Robert Warner

WHEN a new mine is opened, and often when an operating mine must adapt itself to physical or economic changes, a mining system must be selected in complete detail. In the past the plan chosen was usually the product of the local staff alone, however limited the training and experi-ence of that staff might be, which often resulted in the introduction of methods that were familiar to the staff, but not so well suited to the con-ditions as others unknown to the local men. A new management, noting the difficulties with the existing layout, might make modifications or complete changes, so that many mines in their history have seen a whole series of mining systems, each somewhat laboriously grafted on to its predecessor. This should not be interpreted as a condemnation of the older staffs for sticking to the tried systems, such as open square-sets in the early days at the Homestake, because they knew it would work after a fashion, nor does the statement apply to the technically trained, and usually broadly experienced staffs of most present-day properties. The older miners did not have the variety of tools and methods, nor the present freedom of transfer of information as to what the other man is doing, and so did the best they could under the circumstances. Finally, the higher grade of the ores made the choice less vital. The ever-increasing need to mine low-grade orebodies, with a fixed or even lower price for the metal produced, has caused an increasing need for low-cost mining. In most new mines this has simplified the problem of selection by eliminating from consideration all of the high-cost systems, but it has also complicated the choice by the necessity for refinement in detail and a close adjustment of the plan selected to all the conditions at the property. In these low-cost problems any textbook division of mining systems as applied to "beds, veins or masses" avails little as a guide. It should be realized at the outset that to' be successful under modern competitive conditions a system of mining must be worked out with elaborate detail, with careful time scheduling and control of the various elemental operations, and that after it is introduced it must be run with a large amount of technical direction.

Jan 1, 1933

By J. B. Warriner

S. A. TAYLOR, Pittsburgh, Pa.-What was the distance of haul? J. B. WARRINER.-There is practically no limit to the haul. The length is determined entirely by the feasible location for a dump. -I have known of hauls up to 2 miles in length. R. V. NORRIS, Wilkes-Barre, Pa.-This paper was originally presented to the Anthracite Section as the result of the appointment of Mr. Warriner as the Chairman of the committee to study this matter and present this paper. As he has stated, he obtained data very freely from all the stripping operations in the region, and it is a type of paper of which we should have more in the Transactions. Two or three things in it strike me as particularly valuable. The two tables, 1 and 2, showing the coal remaining, have been the result of a great amount of study, as it is not an easy matter to obtain data as to the amount of coal left in mining. As an example, one of the, anthracite mines was mined and robbed out in 1850, so the maps show. That mine is today producing 250,000 tons of coal, over 50 per cent. from the bed which on the maps is marked as exhausted. What actually happened is that the seam was on a light pitch inconvenient to mine. There was ample thickness of coal and the chambers were driven at a convenient pitch through this 30,-ft. bed, leaving top and bottom, taking out about 10 ft. The pillars were removed and the working caved and marked as gone. That is the type of area that is now being stripped, which explains the reason for the enormous amount of coal left in, and the fact that Mr. Warriner has worked out the actual results from a large number of strippings is of great interest to the operators in any region handling thick coal which has been mined over in the past, generation. The modern mining, of course, is different. We do not have all the coal we want in big veins, and we do not mine it that way. Another interesting feature of the paper to me was the study of losses. It is not uncommon to assume that after you have stripped off the overburden all the coal goes to market. Mr. Warriner has shown that there is a loss ranging up to 10 or 15 per cent. that does not go, so 'that estimates made on stripping, figuring on all the coal, are subject to this very material correction.

Jan 4, 1917

By George Rice

WHEN miners in the interior coal fields of the United States began the practice of blasting the coal without undercutting, or what is known as "shooting off the solid," many explosions resulted, some of them of great extent and 'violence, and attended with large loss of life. One of the means adopted for preventing this large loss of life, though not preventive of explosions, was to employ shot firers to discharge the shots when all the other employees had gone out of the mine at the end of the day's shift. This system still prevails in most of the Central and Southwestern mines. Following the disaster at Winter Quarters mine, Utah, May 1, 1900, in which 200 lives were lost, a system of firing shots electrically from outside and when the men were out of the mine was adopted at the mines of the Utah Fuel Co.1 This system has also been used in France in certain mines that are subject to instantaneous outbursts of carbonic acid gas. These outbursts generally occurred at shot-firing time, on account of the blasts releasing the gas held in crevices under high pressure. The system was also adopted at a number of other mines in Utah, at the Cokedale mine, Colorado, at the Dawson mines, New Mexico, and in some mines of the Tennessee Coal, Iron & Railroad Co. in the Birmingham Ala. district; and more recently in certain mines in Iowa and Kansas. At first there was considerable trouble from misfires, and in a few instances from premature firing, while men were in the mine, through the shot-firing lines becoming crossed with power lines. Fortunately, however, no loss of life resulted from such premature firing within the knowledge of the writers, and latterly this danger has been reduced to a minimum by certain measures of precaution. The proportion of misfires, or failures of individual shots to fire, has also been reduced to a very small

Jan 10, 1914

The Library of the above-named Societies is open from 9 A.M. to 10 P.M. on all week-days, except holidays, from September 1 to June 30, and from 9 A.M. to 6 P.M. during July and August. The Library contains about 55,000 volumes, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library can render valuable service through correspondence; letters requesting information will receive special attention. The Library is prepared to furnish references and copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information as to the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved and the information will be sent more promptly and in more usable shape. The members of the Institute can be of service to the Library by forwarding copies of mining reports, maps privately issued, and similar material, which will be classified, indexed, and made available to other members. Suggestions for additions to the Library, either by purchase or personal solicitation as gifts, will be welcomed. It is hoped that members while in the city will use the Library freely, and assurance is given that most careful service will be rendered to them.

Jan 1, 1915

By Mark R. Lamb

The various methods of treating pulp in air-agitation tanks offer problems for experiment and study which are fascinating as well as practical. The usual method heretofore has been to fill each tank in turn, agitate the mixture the required period and then discharge the treated pulp into a storage-tank, from which it is drawn to the filter as required. A later method is to run the pulp from the tube-mill, classifier, thickener, or settler into the first of a set of tanks, and thence continuously or in series through the remaining tanks, finally drawing off the pulp to a continuous filter, or to a pulp-storage tank if the filter is of the intermittent type. It is this method which I propose to discuss here in a preliminary way, with the idea of going exhaustively into the examination of the results of a series of experiments in a later paper. It may be of interest to note that the design of a cyanide-plant has recently been completed in which the estimated cost of the agitation-tanks, storage-tanks, and pumps was 30 per cent. higher for the charge-agitation arrangement than for the series plan. The first question in studying the series method is, " What is the actual period of treatment undergone by the pulp ?" One first supposes that by chance some of the pulp may get through with little or no treatment, while other portions may stay in the tanks a needlessly long period. The former is not probable or even possible, and the latter is, practically, true

Jan 1, 1910

Jan 1, 1914

By P. G. Meikle, C. T. Holland

The effect of the condition of friction upon the ultimate unit compressive strength as determined between the compressed faces of precisely machined coal specimens and specially prepared testing platens has been examined. Reductions of 30 to 40% in the ultimate unit compressive strength of these model coal pillars have been verified when lubricants areused between the faces as compared to non-lubricated faces. Increase in unit compressive strength due to confinement at each of three levels of friction appears to follow generally the widely accepted "1/2 power law", i.e. S - C (L/T)1/2 where S is the unit ultimate strength, C is a constant dependent on the coal being tested and the coefficient of friction acting at the compression surfaces and L and T are the least width and thickness of the specimen, respectively. Results suggest that the surface condition of both the specimen and platens should be mentioned in detail in conjunction with compression testing, for although the term (L/T)1/2 is adequate for all practical purposes, the coefficient C is directly dependent on the condition of interfacial friction, all else remaining constant. One phase of the investigation of the confining effect of friction on the ultimate unit compressive strength of small coal specimens has recently been completed at the School of Mines of West Virginia University. The efficient control of ground is of fundamental importance to successful mining operations and the design of support pillars has always presented the mining engineer with a difficult and intriguing engineering problem. Since about the turn of the century, many investigators have performed extensive laboratory tests on small coal specimens in efforts to solve some of the perplexing problems of strata control and pillar action in coal mines. A detailed review of this work would serve no purpose here, but a brief mention of the more significant contributions is in order. Muller16 was perhaps the first to illustrate the effect of confining pressure on the strength of coal specimens in compression. His work has recently been more carefully expanded by the experiments of Murrell17 in Great Britain. Rice and Enzian l9 observed that as the size of cubical test specimens increased, the unit compressive strength decreased. These observations were later supplemented by Lawall and Holland, 13 by Greenwald4,5 et a1 at the U. S. Bureau of Mines, by Gaddy3 as well as by Steart,22 Millard15 et a1 and Evans2 et al. Gaddy3 seems to have been first to quantify this relationship with his equation: S = K/vd , where S - ultimate unit compressive strength (psi), K = a constant dependent on the coal, and D =edge dimension (in inches). Holland7 concluded that the strength of coal as affected by lateral dimensions and thickness could be expressed as where K = a coefficient dependent upon the coal, L = least width of pillar (in.) and T = thickness of pillar (in.). Data supplied by this formula have been compared to the estimated stresses in pillars that had been standing for long periods in coal mines and in the cases so far studied the results indicate that the formula predictions are sufficiently accurate for engineering purposes (Holland11 ). This equation therefore is believed to be the simplest and most accurate tool available at the present time for approximating the strength of a coal pillar (over a specified range of L/T) in situ. However, Holland7,9 has indicated that friction between the coal pillars and the top and bottom rock

Jan 1, 1965

By S. F. Ravitz

IN his excellent book on the Principles of Flotation, Wark1 makes the following sig-nificant statement concerning the theory of flotation: Two questions of first-rate importance must be considered . . . First, it must be decided whether the sulfide minerals require a collector in order that they may float, or whether as has been claimed, they possess an inherent float-ability and need no collector. Second, it must be decided whether the xanthate type of col-lector can react with or be adsorbed by the unchanged sulfide minerals themselves, or whether, as many claim, reaction with the collector is dependent upon initial oxidation of the mineral surface. In the theory of flotation there are no two questions of greater impor-tance than these. Ravitz and Porter2 presented evidence that galena can be floated without a col-lector, and even without any reagent, pro-vided oxidation products are thoroughly removed from its surface. They found also that thoroughly cleaned galena floated faster when xanthate was used than when a frother alone or no reagent was used, and that, without a collector, the recovery decreased gradually upon exposure of the mineral to air. Their work, however, has met with considerable criticism. 1(127),3-6 This paper is presented to answer the objections that have been raised, and to present additional data that confirm their results.

Jan 1, 1940

[EXEOUTIVE OOMWITTEE OF TEE BOARD OF DIREOTORS DONALD H. MCLAUGHLIN, Chairman WILBER JUDSON, Vice-Chairman JOHN L. CHRISTIE CLYE E. WEED FELIX E. WOBYSER]

Jan 1, 1946

By R. R. Estill

THE rank of the Ruhr coal ranges from a high volatile bituminous coal to an anthracite, depending to some extent on the original depth of the seam. The average Ruhr coal corresponds to a soft bituminous American coal of a coking quality. The average thicknesses of individual coal seams being mined are also comparable (59 in. against 65 in. in the United States). However, consideration of seam conditions and mining conditions other than those just mentioned emphasizes differences rather than similarities with United States soft coal. In general, the Ruhr seams now being mined are much more folded and inclined than American seams. Dips of 20" and 30" are common in seams now being worked, and 30 pct of the coal reserves in the district are in seams dipping more than 35". Only on the tops and bottoms of folds do we find rather flat coal seams. In addition to the folding there is extensive displacement by cross faulting plus a certain amount of strike faulting of an overthrust nature, which results locally in doubling or omission of seams. Because of the long history of mining in the Ruhr, nearly all coal lying near the surface has long since been mined out, and we find that the average depth of mining is at present about 2300 ft below the surface. Deep mining, folding, and faulting result in seam conditions requiring a great deal more roof support than one finds in American soft coal mines. In fact only in the anthracite district and the Rocky Mountain and Pacific coal fields do we find somewhat similar conditions. It is easy to say, therefore, that the problem of mechanization of coal cutting and loading in the German mines is quite different from that which we have so effectively met in America with our mobile cutters and loaders, duck bill loaders, and a room and pillar system of mining our drift and slope mines.

Jan 12, 1950

By A. B. Stevens

IN the calculation of oil and gas reserves by volumetric methods, it is necessary to know the volume of the reservoir available for the storage of the oil or gas. To obtain this information, a number of methods for determining both total and effective porosity of reservoir rocks are used. For the determination of the total porosity, or the porosity that considers all of the pore spaces, connected and isolated, the Russell7,8,9 and the Melcher-Nutting1-6 methods are the best known and most- widely used in the petroleum industry. These methods have disadvantages in that they give the total porosity of the samples and in that the samples are reduced to grain size in the determination. In many sands there may be little or no difference between total and effective porosity but in other sands there may be considerable difference between the two. For the estimation of oil-and gas reserves the effective porosity of the reservoir rock always should be used. Of the methods that have been developed for the determination of the effective porosity of reservoir rocks, or the porosity that considers only those pore spaces that are connected, the best known are the so-called Boyle's law6,10-13, and the Washburn-Buntings.5,6,11 methods. The Wash-burn-Bunting method is probably the most widely used because it gives effective porosity, it is rapid, and the apparatus is inexpensive. This method employs a special porosimeter in which the core sample is placed in direct contact with mercury. This method has disadvantages in that, as a result of the high vacuum created in the pore spaces, mercury is drawn into the openings, making it impossible to use the sample for a check determination and also ruining the sample for any further test, such as permeability. The purpose of this paper is to describe an appa-ratus employing the same principle as the Washburn-Bunting method but so designed that the core sample does not come in contact with the mercury in the porosimeter.

Jan 1, 1939

By The Staff of Dames & Moore

Five factors are required for the formation of uranium deposits: a source, transporting medium, host, trap, and preservation. Locating and evaluating uranium deposits requires ail integration of methods and techniques to determine if the above factors are present. A typical exploration program consists of selection of a favorable area, field reconnaissance, land acquisition, and target definition and evaluation. Target definition and evaluation utilizes a combination of geologic mapping, geochemical surveying, geophysical surveying, and drilling and logging. Each overlaps the others to some degree.

Jan 10, 1978

By K. A. Jackson

An analysis of the conditiom fm the dendrite-eutec-tic transition is presented which takes into account a temperature gradient. The composition and temperature in the liquid ahead of a eutectic interface growing at a particular velocity are used to determine whether dendrites can grow faster than the eutectic interface in the liquid which exists ahead of it. If the dendrites grow faster, then a mixed structure with dendrites growing ahead of the eutectic interface is expected. If the dendrites do not grow faster, then only eutectic will be present. The analysis is presented for Sn-Pb system, for which sufficient experimental data to make the analysis are available. The transition from eutectic to dendrites-plus-eutectic derived by this analysis is in good agreement with the recent experimental observations of Mollard and Flemings on Sn-Pb alloys. In alloys which grow with a lamellar eutectic structure, the lamellar structure can be grown over some range of compositions close to the eutectic composition. When the composition is too far from the eutectic composition, dendrites of one or another of the primary phases grow ahead of the eutectic interface, producing a microstructure consisting of "primary phase" interspersed with a lamellar eutectic. Hunt and Jackson' have recently predicted the range of compositions over which the eutectic phase should grow in Sn-Pb alloys, and the composition-growth rate dependence of the transition from eutectic to dendrites-plus-eutectic. This prediction was based on work on organic eutectics. The model on which the prediction was based assumed that there was no temperature gradient in the system, a condition approximately satisfied in the study of organic eutectics2-5 but not in the growth of metallic alloys. Mollard and Flemings6,7 have recently reported experimental results for Sn-Pb alloys in which they have located the transition from eutectic to eutectic-plus-dendritic growth. The experiments were performed using large temperature gradients (65 to 515 deg per cm), so that the assumption of zero gradient on which the predictions of Hunt and Jackson' were based does not apply. It is not surprising therefore that the predictions' were not born out by the experiments.7 In the present work, a modification of the model used by Hunt and Jackson is presented which takes into account the temperature gradient. The modified form of the theory predicts the transition from eutectic to eutectic-plus-dendritic growth in terms of the composition, growth rate, and temperature gradient. Good agreement with the experimental data of Mollard and Flemings7 is obtained. THE HUNT-JACKSON MODEL The model used by Hunt and Jackson' to predict the transition from eutectic to eutectic-plus-dendritic growth was based on the assumption that dendrites grow ahead of a eutectic interface only if they grow faster than the eutectic interface. Analytic expressions for the growth rate of dendrites and the eutectic in Sn-Pb alloys were obtained by fitting experimental data with equations whose form was indicated by theory.

Jan 1, 1969

By Guy Borden, Michael J. Rzasa

Laboratory data on bubble point pressures and reservoir volume factors have been correlated as functions of solution gas-oil ratio, calculated gas gravity of the pentanes-and-lighter fraction of the entire fluid, differential residual oil gravity, and reservoir temperatures. INTRODUCTION Several correlations of crude oil properties have appeared in the literature. D. L. Katz4 in 1942 presented five methods of predicting oil shrinkage. these being of decreasing accuracy for decreasing amounts of information available. M. B. Standing- in 1947 published three correlations of laboratory flash vaporization data of California crudes. From values of GOR (gas-oil ratio), gas gravity, liquid gravity, and temperature, his correlations will predict bubble point pressure, formation volumes of bubble point liquids, and two-phase formation volumes. Curtis and Brinkley2 in 1949 presented several correlations. From the gas-oil ratio, an approximation of reservoir volume factor and barrels of condensate recoverable per barrel of reservoir space may be obtained; along with liquid gravity and reservoir temperature, the GOR will allow prediction of bubble point pressure. These last cor- relations seem to be more qualitative than quantitative. Generally, laboratory bottom hole sample tests furnish information on solution gas-oil ratios, residual oil gravities. bubble point pressures, viscosities of oils, liquid shrinkages, and occasionally gas gravities. Each of these data has its own applications and use in reservoir engineering calculations. The particular uses of correlated bottom hole sample data are found in (1 Providing a basis for obtaining estimates of formation crude properties in fields where bottom hole sampling is impractical or impossible. (2) Greatly reducing the time in obtaining the desired information. (3) Determining the applicability of the results from various bottom hole samples to particular field problems. (4) Avoiding, in many cases, the uncertainties of sampling by replacing it with an element over which greater control can be exercised. (5) Permitting use of preliminary field data in application of production procedures before a bottom hole sample can be obtained and analyzed in the laboratory. (6) Serving as a check on data which may appear out of line. (7) Estimating for a particular type crude the appropriate equilibrium constants by working backward from the bubble point pressure. (8) Estimating original or other past history properties of reservoirs that were not sampled in the past. PROCEDURE Application of the published correlations4,6 to Stanolind laboratory data indicated that the general scheme presented by Standing" could give dedrable results if changes were made in parameter positions and scales. The correlation curves were drawn with all the variables having consistent gradations except the temperature increments which were drawn in to best fit the data. The variables from available Stanolind laboratory data are defined below: (1) Gas-oil Ratio: Gas is liberated at reservoir temperature by differential vaporization (or rather by a series of flashes, approaching differential vaporization) and measured at atmospheric pressure and temperature, at which the compressibility factor is assumed to be unity. The oil is the residual liquid remaining after the pressure has been reduced to atmospheric. For the gas-oil ratio both volumes are corrected to standard conditions of 14.7 psia and 60°F. (2) Gas Gravity: It was decided to arbitrarily divide the hydrocarbons of the entire bottom hole sample into pentanes-and-lighter and hex-anes-and-heavier, and use a calculated gas gravity of the pentanes-and-lighter for a correlating variable. (Sample calculation is shown in Table 111.) (3) Liquid Gravity: This is the API gravity of the residual liquid from the differential vaporization. The gravity is measured at room temperature and corrected to 60°F.

Jan 1, 1950

By JOHN R. SUMAN

IT appears now that the conflict with the totalitarian states will be a long-drawn-out struggle. The course of this war up to now indicates that this may well be the first major conflict where man power has not been the vital and determining factor. Mechanized warfare has made it possible for relatively small, well-equipped groups to outmaneuver and defeat large armies which lack the necessary modern equipment. Under these circumstances, ultimate victory becomes a matter of resources and productive ability. The important question is not how many soldiers can he put into the field, but the volume and speed in producing the armaments essential to ensure a victory. The resources available to the opposing nations and the efficiency of their systems of enterprise and production will be primary factors in determining the ultimate outcome. Germany had a head start of eight years in the armament race, and it is not easy to overcome such an advantage overnight.

Jan 1, 1942

By H. E. Kramm

During the summer of 1910, I had the opportunity to study in detail the geological conditions of what is known in northern California as " Harrison gulch," in Shasta county. Though the district, as a whole, that is, the western part of Shasta and the eastern part of Trinity county, has contributed during the last 15 years a considerable share of the gold-production credited to Shasta county, very little is known of its geology, perhaps because the country is covered with a dense growth of brush which makes exploration and prospecting extremely difficult. Topographically the district presents a succession of ridges trending approximately N-S., and alternating with deep, narrow canyons. The drainage is partly into the Sacramento, partly into the Trinity river. Climatic conditions in summer time are almost ideal. It is true, the thermometer may climb to 115°, but the air is dry

Jan 1, 1913

Although the Suggestions to Institute Authors, as revised and amplified over the years to meet changing conditions and experience, have had as their primary objective the guidance of the author who is preparing a paper for record in the TRANSACTIONS, there are in this current version many excellent suggestions for the preparation of any material for publication by the Institute In this connection it should be emphasized that in a sense, and to a degree determined by the editors, the Institute has in its journals "a place for everything," especially a place for the article of practical nature that is of immediate but not necessarily permanent interest Such articles may be referred by the Institute Technical Publications Committee to the editors or submitted directly to them , [Papers (TECHNICAL PUBLICATIONS and TECHNICAL NOTES) authorized for the TRANSACTIONS are, with the discussion, gathered together at the end of the calendar year and with a table of contents and index, bound, according to Branch classification, as volumes of the TRANSACTIONS

Jan 1, 1952