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By Thomas R. Scotese

A rock mechanics instrumentation and monitoring program was implemented during pillar extraction at Gulf Mineral Resources' Mt. Taylor Mine, the deepest uranium mine in the U.S. Three types of monitoring were employed: (1) drift convergence around stopes (using a portable tube extensometer), (2) stress changes in pillars (using vibrating wire stressmeters in horizontal boreholes), and (3) load changes in haulageways under stopes (using vibrating wire load cells in jack stands). Results include convergence-time graphs, convergence contour maps, stress-time graphs, a stress increase contour map, load-time graphs, and abutment load limit maps. Major factors influencing results include (1) size of pillars around the extraction area, and (2) presence and orientation of a major fault adjacent to one extraction area. These factors, combined with pillar extraction, produced evidence of load transfer over 120 m from a stope measuring only 55 m x 45 m. Vertical stress increases of 7 to 17 MPa (1000 to 2500 psi) within 60 m of the stope were obtained using the stress- meter manufacturer's method. The fault apparently prevented load transfer in the down-dip direction but increased load transfer in the up-dip direction. Convergence rates of up to 1.3 cm/day (0.5 in/day) were measured at two stations. Instruments were generally reliable despite adverse underground conditions. The instrumentation and monitoring program at Mt. Taylor provided a warning system against ground control problems and a characterization of ground behavior for future development and extraction of pillars. Recommendations are made for future mining and instrumentation practices.

Jan 1, 1984

By A. J. Bowie

The discovery of the auriferous cement gravel deposits in and near Deadwood Gulch, Lawrence County, Dakota Territory, in 1876, created a mining excitement, and rush to the Black Hills. Numerous ten and twenty-stamp mills were built on Deadwood Gulch; Central City and the town of Deadwood sprang into existence, and became the centres of the mining industry of the Hills. Gold quartz deposits were subsequently discovered and located on a so-called mineral belt, extending from Whitewood Creek on the south, to Deadwood Gulch on the north. A northerly group of these quartz locations was purchased in December, 1877, by parties in San Francisco, who formed a company, incorporated under the name of the Father de Smet Consolidated Gold Mining Company. This company immediately commenced the work of exploration The deposits were proved to be extensive, and easily mined, but it was found that the ore, on an average, would not yield more than $10.00 per ton* of 2000 pounds. • At this trine the cost of supplies and materials in the Hills was high. Miners' wages were $3.50 per diem, and custom mills charged $6.00 per ton. The successful working of mines on "the belt" necessitated cheap milling. The ores being of so low grade,f this could be accomplished only with large and economically running mills. To insure the greatest possible economy, the Father de Smet mill

Jan 1, 1882

By L. L. Davis

Current research by the US Bureau of Mines to develop technology for improving efficiency and productivity in metal/nonmetal mines is described. The research program addresses a wide variety of problems associated with each of the major categories of mining: underground mining, surface mining, m situ mining, and premining investigations. An overview of the Bureau's research activities is given with emphasis on underground mining. In particular, two innovative and promising concepts currently under development are described: a unique shaft sinking system that uses an impact hammer for rock fragmentation, and a low-profile portable crusher for underground hard-rock applications.

Jan 1, 1982

By H. l. Burghoff

THE presence of tellurium in copper and, by inference, in copper alloys, has been considered seriously detrimental and has been avoided. In particular, very small amounts of tellurium have been found to produce red-shortness, although the effects on cold-working and ordinary physical and mechanical properties have not been known so definitely. References in the literature are few, but as long ago as 1881, Egleston1 reported that 0.083 per cent tellurium in fire-refined copper rendered the copper red-short and therefore worthless for hot-rolling. In hot-rolling copper cakes containing this amount of tellurium, he found that fine cracks appeared in the cakes on the first pass through the rolls, the cracks opening further in successive passes. When cold, the metal was said to be tough and malleable. A few years ago, during the course of an investigation in our laboratory on copper-base alloys, it was found that tellurium-bearing alloys could be machined much more freely than similar alloys not containing tellurium. The study was pursued further in this direction, and considerable data were obtained, which indicated that certain tellurium-bearing alloys might have properties of commercial interest. The work eventually led to patent protection,2 a wide range of tellurium-bearing copper-base alloys being covered. This article presents results obtained on the effect of tellurium on the. mechanical properties of three copper-base alloys: commercial bronze (90 Cu, 10 Zn), 1.5 per cent tin bronze (98.5 Cu, 1.5 Sn), and silicon bronze (96 Cu, 3Si, 1 Zn).

Jan 1, 1937

By William P. Blake

IntroductioN.............989 The Blake stone- Breaker Prize.......989 Great Labor-Saving Inventions.. 990 I. Biographical NoticE OF the Inventor......990 II. Former Methods of Breaking Stone......992 Ragging and Spalling......... 992 Cornish Rolls..........993 III. Construction of the Blake Stone-Breaker.. .. 993 The Lever.Pattern.........994 The Eccentric Pattern.........997 The Challenge Pattern......... 999 The Monarch Pattern.........1001 The Multiple-Jaw Pattern........1001 Movable Dies for Jaws......... 1004 Cheek.Plates,..........1007 IV. The Capacity OF Blake Breakers......1007 Position and Feeding of Breakers...... 1008 V. Gyratory Jaw Crushers.........1010 The Gates Rock- and Ore-Crusher......1010 The Comet Crusher.........1010 VI. Some Unusual Forms OF the Breaker......1010 The Smith Hydraulic Pattern.......1012 The Forster Crusher.........1012 The Stafford Crusher.........1013 The Gates Crusher.........1013 The Dodge Pattern.........1013 The Rawson Crusher.........1014 The Duplex Breaker.........1015 Booth's Modification of Wedge-Block......1015 Marsden's Eccentric Pattern.......1017 The Lancaster Machine........ 1017 VII. Combined Crushing and Grinding Impracticable,. . 1018 The Hanscomb Machine ...1019 Howland's Crusher and Pulverizer..1020 The Oliver Crusher and Pulverizer..1021

Jan 1, 1903

By E. A. Swedenborg, J. S. Ross

Oil-field waters enter into many underground problems with which the petroleum engineer has to deal. Whether the problem is one of infiltration or natural encroachment, it is always desirable to determine the source of the water before commencing repair or remedial work. The usual mechanical tests for determining the source of extraneous water in wells are slow and expensive. An excellent means for the identification of oil-field waters may be afforded by their chemical characteristics when the chemical character of waters from the various sands has been established by careful sampling and analysis cautiously interpreted. In the Salt Creck field, Wyoming, a fairly high degree of efficiency has been attained in the control of field operations by utilizing the information afforded by the analysis. All of the operating companies appreciate this means of identifying waters, with the result that water-sampling has become general practice. Most of the chemical work dealing with Salt Creek waters has been done since the laboratories of the Midwest Refining Co. and the U. S. Geological Survey, were established in the field; the former in 1922, the latter in 1924. A spirit of cooperation has existed between the company and the government personnel by which many of the data for this paper were made available. Sands of the Salt Creek Field The principal sand horizons in the Salt Creek field are the Shannon, First, Second, and Third Wall Creeks, Dakota, Lakota, Sundance and Tensleep. Of these the important oil producers are the First Wall Creek, Second Wall Creek, Lakota and the Sundance. The Third Wall Creek is lenticular and is productive in only a few wells in the southern end of the field. There are also a number of shale wells, but they do not produce water in any appreciable amount. The stratigraphic position of these sands and their relative thicknesses are shown on the condensed composite section of Salt Creek

Jan 1, 1929

By Joseph E. Worthington

Many thousands of years ago when our earliest ancestor first swung out of a tree, picked up a rock, and threw it at what he hoped might be his lunch, the minerals industry, in a manner of speaking, was born. It was then a very long step indeed to the primitive metal industry of our early civilizations, for we know that precious metals were accumulated and some metal objects were produced several thousand years ago. Prospecting, or "exploration" to use the modern euphemism, consisted of little more than outcrop examination and the use of a gold pan, and it probably did not change much from our earliest civilizations until relatively recent times. In a general sense, all the early explorers of North America were also prospectors, for mineral wealth was certainly one of the goals of the first pioneers and settlers. The earliest pioneers didn't do too badly either, for they discovered copper and iron in various places in the Appalachians and Michigan, gold in the Southeast Piedmont and many mineralized areas in the Southwest. In most places these were outcropping ores or gossans, and the prospecting was incidental to the arduous task of ekeing out a living in a new land. It was the explosive discovery of rich placer gold deposits at Sutter's Mill in California that caught the public fancy and precipitated the establishment of prospecting as a full-time occupation. After the end of the Civil War in 1865, full-time prospecting became an important occupation and continued as such for almost three generations. Prospectors equipped with picks, shovels, gold pans and four-footed transportation swarmed all over what are now our Western States, discovering thousands upon thousands of mineral showings-and certainly most of today's large mining districts. Our vigorous western mining industry is a tribute to the courage and persistence of these men. The techniques of these picturesque prospectors, however, were essentially the same as those of their predecessors-examination of every outcrop and assiduous use of the gold pan. The great increase in discovery at this time was therefore due to increased activity rather than to different techniques. An important result of this in- creased prospecting was the growth of interest in geology. It was during this period that the U.S. Geological Survey began to grow. Many of the major mining districts were mapped, and geological studies and projections began to have an impact on further ore discovery. Ore search and development gradually became more geologically oriented and the geologist became a fixture in most mining camps by the 20th century. The development of mass-mining techniques in the early part of the century also changed exploration concepts.

Jan 1, 1971

The following is an incomplete list of members and guests who called at Institute headquarters during the period Sept. 10, 1919, to Oct. 10, 1919. L. D. Anderson, Salt Lake City, Utah. P. S. Matthews, Newark, N. J. Ray J. Barber, New York City. A. Poole Maynard, Atlanta, Georgia. L. A. Barton, Major U. S. Engineers. L. J. Mayreis, Jamshedpur, India. J. A. Battle, Chicago, 111. Benj. L. Miller, Bethlehem, Pa. R. W. Bissell, New York City. Geo. D. Morgan, Bartlesville, Okla. Gilman E. Brown, Shanghai, China. A. C. Munroe, El Paso, Texas. Stanley Brown, Chuquicamata, Chile, Paul I. Norton, Jr., Columbus, Ohio. S. A. Walter G. Perkins, Stanford University, Norman Carmichael, Clifton, Arizona. Cal. Richard H. Catlett, Newark, N. J. Fred S. Porter, Seattle, Wash. Roderic Crandall Charles E. Prior, Cherry Creek, Nevada John J. Croston, Atlanta, Georgia. G. M. Richards I. N. Dally, Seattle, Wash. Gilbert Rigg, Melbourne, Australia. A. Faison Dixon, New York City. Pierre H. Sauvajol, Paris, France. Walter Dobbins, Springfield, Ill. Carl Scholz, Chicago, Ill. Foss E. Douglass, Rancagua, Chile. Ellsworth H. Shriver, Marysville, Ohio. H. S. Emlaw, Grand Haven, Mich. Harvey B. Small, Magangue, Colombia. R. S. Everet, Barre, Mass. Henry B. Smith, New Britain, Coma. H. W. Gipp, Melbourne, Australia. J. T. Smoody, Cornwall, Pa. F. A. Glass, Brainerd, Minn. S.. J. Speak, London, England. C. D. Grier, New York City. D. R. Thomas, New York City. James L. Head, Rancagua, Chile. Kirby Thomas, New York City. Geo. B. Holderer, New York City. R. M. F. Townsend, Washington, D. C. W. Spencer Hutchinson, Boston, Mass. Carl J. Trauerman, Helena, Mont. Henry Jequier, Paris, France. A. C. Veatch, London, Eng. L. W. Kemp, Chuquicamata, Chile. Myron R. Walker, Pittsburg, Pa. Herbert S. Kohlberg, El Paso, Texas. Curtis C. Webb, New York City. H. M. LaFollette, La Follette, Tenn. James Wilding, San Francisco, Cal. Richard Lamb, New York City. S. H. Zimmerman, New York City.

Jan 11, 1919

By Lester Tarnopol, Ralph Hultgren

A considerable interest in the subject of superlattices has been manifested by many papers and reviews that have recently appeared, both in physical and metallurgical publications. This interest is due largely to the apparent simplicity of the ordering process, which permits the explanation of many phenomena on the basis of elementary theory. Moreover, ordering may cause important changes in the physical properties of alloys. In this paper, we shall discuss the causes of superlattices in terms of simple properties of the elements that give rise to them, together with a series of experiments performed to test our conclusions. Evidence is presented that in some cases the process of ordering is more complex than might be supposed. While the different species of atoms are usually found in random positions in alloy lattices, in some cases unlike atoms tend to be nearest neighbors. Bethe's1 "order of neighbors" is a statistical measure of thib tendency. At suitable compositions it is possible for atoms in large regions to be regularly arranged, which causes superlattice lines to appear. in X-ray diffraction patterns. Bragg and Williams2 haw dealt with this "long-distance order" in their fundamental work 011 superlattices. Excellent discussions of superlattices are to be found in current reviews TheRmodynamic Considerations Thcrmal vibration tends to destroy order. The magnitude of the effect can be determined from the entropy of mixing, which is calculate from first principles. Since the ordered state has the lower entropy, it must also have a lower internal energy to be stable at any temperature. The difference in internal energy determines the critical temperature at which long-distance order disappears. According to the, theory of Bragg and Williams,~

Jan 1, 1939

By Kenneth N. McLeod, Donald W. McGlashan

In the use of free bubbles with precise temperature control and continuous pH measurement, the contact angle apparatus differs from all previous equipment. Experimental procedures differ sharply from the captive bubble method of introducing the gaseous phase in the three-phase system. When freed from the tube and captured by a solid surface, a bubble more closely conforms to the spherical ideal set up by the usual mathematical analysis of surface free energy or surface tensional relationships of the forces involved. The assembled equipment, Fig. 1, departs from the usual contact angle apparatus in providing: 1) water circulation for fixing temperature, 2) instruments to measure and record pH during testing, and 3) a system for producing and using free bubbles. The apparatus allows testing over a broad range of closely controlled conditions, and the use of free bubbles gives contact angles independent of operator manipulation, which was unavoidable in the older captive bubble method. A bubble released below the specimen rises through the liquid and contacts the mineral. If the mineral is gas-avid the bubble adheres, developing a finite contact angle.

Mar 1, 1956

By F. H. Ellinger

TI HE crystal structure of neodymium has been re-A ported by Quill1 and by Klemm and Bommer"s to be hexagonal-close-packed, Strukturbericht-type A3, with a, = 3.650.4, c, = 5.890.4, c/a = 1.614. Klemm and Bommer,% owever, pointed out that the observed intensities of the lines of the neodymium powder pattern agreed only in part with the intensities calculated for the type A3 structure, and that the neodymium powder pattern showed extra lines which could not be traced to impurities. They found that these extra lines could be accounted for by doubling the c-axis, but apparently they did not consider their evidence to be sufficiently conclusive to justify reporting the doubled c-axis. In the present work, the structure of neodymium was found to be double hexagonal-close-packed. The neodymium metal used in the present investigation was obtained through the courtesy of F. H. Spedding of the Ames Laboratory. Its major impurity was stated to be 0.03 pct Ca. The author's spectrographic analysis indicated high purity and carbon was determined to be less than 30 ppm. X-ray powder specimens were prepared from filings stress relieved in vacuum at 200°C for 50 hr. Powder photographs were taken in an 114.6 mm diam camera (Straumanis film mounting) at room temperature and in a 19 cm diam Unicam high temperature camera at elevated temperatures. Copper x-radia-tion was used for all the photographs. The powder pattern of neodymium was found to index to a hexagonal unit cell with dimensions, as determined from the high angle Ka doublets, of: a.= 3.655+0.001.4; c, = 11.796+0.004.4; and c/a = 3.227 at room temperature. The measured density of neodymium shows that this cell contains 4 atoms, the calculated density is accordingly D, = 7.02 g per cu cm. The diffraction data for the first 15 lines of the powder pattern are listed in Table I. In a double hexagonal-close-packed unit cell, the 4 atoms would be in the positions (0,0,0), (0,0,%), (1/3, 2/3, 1/4), and (2/3,1/3,%) of space group P 6,/mmc. On the basis of these positions, the relative intensities of the reflections were calculated using the expression: 1+cos2 20 I oc \Frp 1 ' sin2 0 cos 0 where F is the structure factor and p is the multi- plicity factor. Since absorption was not taken into consideration, comparison of observed and calculated intensities should be made only for neighboring reflections. Each atom has 12 neighbors, 6 in the basal plane at a distance of 3.655.4 and 3 above and 3 below at the closer distance of 3.626.4. These distances correspond to an average radius of the neodymium atom of 1.820.4. The description of this structure in terms of A, B, and C close-packed layers of atoms is ABAC ABAC. ...... The structure repeats every fourth layer and the stacking sequence of the second, third, and fourth layers corresponds to cubic-close-packing of atoms. A series of powder photographs taken at successively increasing temperatures up to 680a10"C revealed that the double hexagonal-close-packed structure is stable up to this temperature. Acknowledgments The authw wishes to thank W. H. Zachariasen and A. S. Coffinberry for their helpful comments on this work and also Marion Gibbs for measuring the diffraction films. This work was sponsored by the United States Atomic Energy Commission.

Jan 1, 1956

By R. E. Zimmerman, Shiou-Chuan Sun

An evaluation of the mechanism surrounding the froth flotation of coarse coal and mineral particles as a result of experiments conducted at The Pennsylvania State College. Maximum size ranges for both bituminous and anthracite coals were established as well as the factors affecting the floating of coarse particles.

Jan 5, 1950

By D. W. Kestner

Recent developments and trends in the state of the art as being commercially applied to the pelletizing and sintering of metallic ores, concentrates and reverts will be reviewed. Both ferrous and non-ferrous materials will be covered. The influence of environmental considerations on the decision to build, the process selection, and design of the plants will be discussed. Use of coal in iron ore pellet induration will also be reviewed as the availability and price structure of oil and gas becomes a consideration to the plant operators.

Jan 1, 1980

By A. Dubnie

Three periods of major activity have led to the development of the present mineral industry in northern Canada. At the turn of the century, placer gold was discovered in the Yukon Territory and production has been continued to the present day. In the late 1920's and early 1930's, vigorous aircraft- aided exploration resulted in the discovery and production of radium at Port Radium on the southern shore of Great Bear Lake and of gold at Yellowknife on the north shore of Great Slave Lake. During this period, oil was discovered at Norman Wells. Present mineral production is today largely derived from deposits which have been developed in the 1950's. Among these are the re-opened deposits of United Keno Hill, uranium deposits at Uranium City, natural gas resources from the Peace River gas area, nickel-copper deposits at Lynn Lake and Rankin Inlet, and the Cassiar Asbestos deposits at McDame Mountain.

Jan 5, 1961

Jan 1, 1966

By S. P. Sharples

Having occasion a few weeks ago to investigate the subject of black band iron ore in West Virginia, I was surprised at being met at the outset with a denial of its existence. One gentleman went. so far as to offer one hundred dollars an acre for any land in West Virginia that contained a seam or vein of even a single foot in thickness, and when shown the ore he acknowledged that it was genuine, but declared it had been imported. That black band does occur in West Virginia is to-day well known to a number of persons. There is a seam on the Gauley River of about a foot in thickness of good ore, which I understand Mr. Lewis and others are making preparations to work. The great trouble with black band ores as heretofore found in this country has been their limited extent. At Fort Washington, for instance, they had a very fine show ing of ore, but it soon gave out. It has also been asserted that the black band ores of the Western Coal Measures were worthless in the furnace, and Fort Washington has been pointed out as an example of the fate of any one who should undertake to work them. But they have been successfully worked at Youngstown and in other parts of' Ohio, and I am assured by old furnace-men from Ohio that there is not the slightest difficulty in. working them if properly managed. The deposits to which I wish to call the attention of the Institute,

Jan 1, 1882

By Frank A. Wardlaw

My subject covers the effect that recent metallurgy has had on operations at the Utah-Delaware mine. This mine is the old Highland Boy mine of Bingham Canyon, Utah, one that has now been in operation for about 30 years. It was first operated by Messrs. Weir and Newhouse as a gold mine, under direction of the Highland Boy Gold Mining Co. The ore was oxidized gold ore and it was treated on the property in a cyanida-tion plant. During the process of development, sulfide ore was found assaying about 5 per cent. copper. It proved to be the discovery of what is yet the largest sulfide copper orebody in the State. The first shipment was made in December, 1896. A smelter was built in Salt Lake Valley to treat this ore and not long after the property was sold to the Utah Consolidated Mining Co. From 1900 to 1924, the mine was a large producer of direct-smelting ore which averaged for many years 4.5 per cent. copper, then later dropped to 2 per cent. copper. During the years 1912 to 1920, direet-smelting lead ore was also mined. In 1918 and 1919 ore developments at depth showed a decided increase in silica content and a porphyry sill so closely associated with the ore that it was impossible to mine the ore clean and it was found necessary to build a copper flotation concentrator at Tooele. The mill had a capacity of 1000 tons a day and made a recovery of 90 per cent., and would have been responsible for a continuance of profitable operations had it not been for a slump in the copper market and the necessary high cost of mining ore on the lower levels. Results of Selective Flotation In 1924 the mine was on the point of a shutadown which had all the earmarks of being permanent; it was being operated at a heavy loss and preparations were made to pull the pumps and salvage the machinery. The plant at Tooele was remodelled for selective flotation by the International Smelting Co. in order to treat custom ores, and incidentally to clean up a possible 10,000 tons of lead-zinc ore which it was thought possible to get in the Utah-Delaware before shutting the mine down. Results were so encouraging that an effort was made to develop more lead-

Jan 1, 1928

By W. J. Reagan

MANY factors enter into the manufacture of basic open-hearth steel of high quality. Perhaps the two most important are temperature and the iron oxide content of the metal. If we can control these two factors we can essentially control basic open-hearth practice. SOURCE AND EFFECT OF IRON OXIDE Earlier investigators, especially Herty and his associates, have shown that iron oxide is introduced into the open-hearth furnace in four ways:1 1. - By oxidation of the scrap by furnace gases. 2. By decomposition of the limestone. 3. By oxidation of the iron oxide in the slag by furnace gases. 4. By direct addition of iron ore to the charge. We also know that the speed of operation of an open-hearth furnace depends, for a given charge and given combustion conditions, on the rate at which iron oxide will diffuse from the slag into the metal. The rate of diffusion depends upon a number of variables, such as iron oxide content of the slag, slag viscosity, etc., which also depend upon the amount of iron oxide in the metal, amount of carbon present, temperature, and so forth. For a given carbon and a given temperature, the iron oxide content of the metal is in proportion to the iron oxide content of the slag. This fact can be easily verified by analysis of slag samples taken as described by Herty.2 It is preferable to take these samples just before deoxidation. In killing the steel samples with aluminum it is desirable to use aluminum rod of 99 per cent purity; ordinary commercial aluminum rod with a purity of approximately 92 per cent is not satisfactory. In drilling these samples it is also essential to take the largest amount of drillings possible. This gives more accurate results because it eliminates spotty segregation of Al203.

Jan 1, 1932

By Roswell Johnson

To know the rate of decline of oil wells is very important, yet ordinarily we are prevented from getting this rate because the oil from several wells is put into one or a few tanks as soon as the wells have been connected to the power. The object of doing this is economy of tanks, pipes, labor and accounting. FIG. 1. But we are making a great sacrifice for this small economy. The advantages of the individual records are that we would know better: 1. When the well has ceased to be profitable. 2. When a well has gotten into bad condition. 3. The real record of the yield per acre and the rate of decline of the wells. The lease total is too mixed as to age of the wells for existing records to have much significance. To obtain such individual well records and more accurate logs are the great desiderata of satisfactory management of oil properties. 4. Which wells show the slowest decline-information which is valuable in locating new wells or purchasing adjoining leases.

Jan 6, 1917

By H. J. Wasson

DEVELOPMENTS in Venezuela during the past few months have been obscured by the hap-penings in Seminole and, more recently, those in southwest Texas. The question has been asked whether or not the opening of these vast new, prolific areas in the United States may not have depressed prices to a point so low as to give the developments in the Caribbean countries a serious setback. Nothing of the kind, however, has taken place, and on the contrary, there has been demonstrated the fact that Venezuela can profitably produce great quantities of oil under existing market conditions, and at the same time finance the foundation for further large expan-sion in the future. The three big factors which contribute to place Venezuela in a unique position and tend to insure the steady expansion of its oil industry are, in the order of their importance: I. Reasonable oil laws backed by a sound govern-ment, which comprehends the all-important fact that the country's prosperity depends on the prosperity of its industries, in a word, perceiving that the goose which lays the golden egg merits considerate treatment. II. The low cost of placing Venezuela oil on our At-lantic seaboard; not over $0.60 per barrel. III. The uniformly high average production per well and the large area of some of the individual pools. Under these conditions Venezuelan producers may be expected to continue steady and profitable ex-pansion even in the face of further market slumps. Their position is analogous to that of the low-cost copper producers, and unless artificial barriers, such as tariffs, come into play, Venezuela will steadily grow in importance. Within less than five years it should be second only to the United States among the oil-producing countries of the world.

Jan 10, 1927