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By Joseph E. Pogue

FOR a number of years the petroleum department of The Chase National Bank has been making a continuing study of the financial aspects of thirty oil companies. (See Pogue and Coqueron, "Financial Analysis of Thirty Oil Companies," pamphlet, The Chase National Bank, November 1945, for data covering eleven years, 1934-1944, and the list of the companies making up the group. See also "Capital Employed in the Petroleum Industry," by the same authors, M&M, November 1944.1 This group represents a large sample of theAmerican petroleum industry, covering about two thirds of the business. Certain aspects of this study concern the capital employed in crude oil production, the main features of which arc presented in this paper.

Jan 1, 1946

By Walter O. Roberts

A TOTAL eclipse of the sun is a brief, exciting spectacle witnessed by most men but once or twice during a lifetime. But to an astronomer an eclipse of the sun is an event of utmost scientific importance. For then, certain phenomena of the sun normally obscured by the brilliant glare of sunlight become spectacularly visible. For over seventy years prior to 1930 astronomers vainly attempted to discover a means of observing all of these eclipse features of the sun without a natural eclipse. But in 1930, through the genius of the French scientist, Bernard Lyot, astronomers met final success. Dr. Lyot invented a new kind of telescope known as a coronagraph, which made possible photography of all of the eclipse features of the sun. In 1940 Harvard University completed final testing of its Lyot-type coronagraph. the only one in the Western Hemisphere, and shipped it to Climax, where Donald H. Menzel, of Harvard College Observatory, supervised its establishment on the southeastern edge of the mining community of the Climax Molybdenum Co., with whose help and advice the modern residence and telescope dome of the observatory were constructed. Ever since that summer the station has been operated by me, first as a graduate student, and now as a staff member of Harvard College Observatory.

Jan 1, 1946

By M. G. Fowler

A GENERAL decline in copper production for most American producers occurred during the past year as a result of shortage in available labor. Few noteworthy technical developments have been reported; undoubtedly, many changes and improvements have been made but have not been reported because of lack of time. During the war years through 1944 the pressure for sustained high production has been of prime importance and during 1945, with slackening of production, many operators were faced with the problem of catching up on repairs and maintenance of plants, with inadequate labor supply. In hydrometallurgy there were some important developments that undoubtedly will be reported during 1946. Several operators in the Southwest have instituted experimental leaching programs to exploit low-grade oxidized and mixed ore bodies. The Bureau of Mines is conducting pilot-plant experimental work to determine the possibility of producing a satisfactory sponge iron at an attractive cost from deposits of iron ore and coal in Arizona. The sponge iron would be used for the production of cement cop¬per. The cell house of the Inspiration Consolidated Copper Co. at Inspiration,

Jan 1, 1946

By AIME

DURING the happy and peaceful years between the Treaty of Versailles and the third New Deal, metallurgy became one of the most cosmopolitan of the sciences. Any metallurgist can name some twenty or thirty scientists whose work, in this country, in England, in Germany, or in France, Sweden, Italy, or Japan was as well known in other parts of the metal-producing and metal using world as it was locally, despite the fact that many of these men never left their native land. One of these metallurgical cosmopolites is Augustus Braun Kinzel, former Chairman of the Iron and Steel Division, A.I.M.E., and now a Director of the Institute. Gus Kinzel, however, is not only a cosmopolite by reputation; he is also a cosmopolite in fact. For many years he commuted at least twice a year between New York and the rest of the world; he is, therefore, not only an expert on the art and science of metallurgy but is equally expert in world travel and can expound with authority on the comparative quality and especially on the cuisine of the great prewar steamship lines; and being a true cosmopolite, he knows, as well as he knows the iron-chromium diagram, the best vintage years in the Gironde, Cote d'Or, and Saone-et-Loire departments in France and along the banks of the Moselle and Rhine in Germany.

Jan 1, 1946

By A. Keith Brewer

RECENT advances in the fields of chemistry, biology, and metallurgy have confronted the analytical chemist with an entirely new set of problems. Development of plastics and synthetics has brought about a need, not only for adequate methods for their analysis but also for the various raw materials entering into their manufacture. The remarkable advance made in biochemical and agricultural research resulting from the use of isotopes as tracers or "tagged atoms" has established the necessity for the development of methods for the concentration of natural isotopes and for a means for their analysis. Similarly the advent of new and complex alloys calls for accurate analytical methods. Fortunately the analytical chemist has been able to meet some of these new demands by adapting to his purposes an instrument which has long been the most exclusive toy of the physicists. Solubility and the chemical properties of the atoms, which have always served as the basis for chemical analysis, do not enter into this new technique. Instead, momentum, defined as mass times velocity, is utilized as the means for the separation of atoms or mass groups.

Jan 1, 1946

By L. A. Cowan

IF the elements of personality be those characteristics in which humans differ, and if this definition be applied to the purchasing department for the Climax operations in Colorado, it must he concluded that this department has no distinguishing traits that would give it a departmental personality different from that possessed by the similar department of any progressive mining enterprise. Or, one may go further by stating that the rudimentary functions of any purchasing practice employed principally in the acquisition of maintenance, repair, and operating supplies are much alike, whether or not the industry involved be mining or milling. However, in the fact that the principal purchases of a mining company are materials for maintenance and repair and consumable operating supplies lies that essential characteristic which differentiates mining and milling purchasing functions from those of the manufacturer, the fabricator, or the ordinary processor.

Jan 1, 1946

By WM. E. Mlligan

IN the last year, much information had become available as to the extent that zinc participated in the war effort. The importance of foreign zinc in this program had been indicated by Bateman (M&M April 1945) as of the order of 400,000 tons annually in zinc or contained zinc. Pehrson (M&M April 1945) reviewed the domestic ore-reserve situation with respect to most minerals and metals and showed the extent to which commercial zinc ores had become depleted in this country. This picture was further darkened by O.P.A. figures appearing in E.&M.J. July 1945 in which figures for total production during the three previous years were broken down into percentages produced under ceiling and various quota price categories. True, factors other than depleted ore reserves contributed to this picture. Among the more important of these, were shortage and high cost of labor, both skilled and unskilled, and the general difficulty and cost of maintaining adequate equipment and supplies. The cost of production in the Tri-State district was most affected.

Jan 1, 1946

By Cyril Stanley Smith

ARCHEOLOGISTS, by use of the terms Bronze Age and Iron Age, indicate that metals have in the past determined the character of civilization. The relatively simple discovery by a primitive metallurgist that the addition of tin to copper both facilitated the production of castings and increased the durability of the product enabled hunter, warrior, and housewife alike to do things never dreamed of before. Similarly, the smelting of iron and the discovery of hardening methods greatly changed the arts of peace and war. Discoveries of low-melting-point alloys for joining and for making household utensils, and perhaps the adornment of a feminine form by sparkling precious-metal jewelry, have at times changed the destiny of a country. Bronze cannon, the cast and wrought iron Watt engine, copper transmission lines, and aluminum alloy aircraft, are cases of particular metals making possible the realization of an improved engineering design. Perhaps of the greatest influence of all upon civilization was the development of type metal. The rapid increase in the rate of dissemination of knowledge dates from the day that the technique of the pewterer was utilized in making rapidly reproducible and accurately sized letters for printing. It was not movable type, but metal type that was important, for metal castings could be made of identically the same shape and size at an enormous rate, and possessed excellent inking and wearing characteristics.

Jan 1, 1946

By C. G. McLachlan

Professor H.E.T. Haultain: To me from time to time the urge comes to say the agreeable thing as well as the disagreeable in commenting on the work of others. It is a prerogative of age. I don't apologize. To myself I justify my action as based on a long experience of the matters with which I deal, and I like to tell myself that I have a certain responsibility in such matters on account of my detached position. This Noranda article is a very fine contribution concerning Canadian milling, and I am surprised that no word of commendation or thanks has appeared concerning it in the BULLETIN. There is altogether too much written in these days by men rushing into print, concerning laboratory work, that has not been tied into, nor has resulted in application in the field. The authors of this paper have not rushed into print. The preparation of this paper was evidently an uncongenial task. If the authors had been that way inclined, it could have spread over several lengthy papers. It is an important article because it represents an enormous amount of work in the laboratory and the mill, extending over a period of sixteen years, and resulting in fine metallurgical and economic results with a very difficult and involved problem. It is a fine article because it is so well prepared and presented. It deals with an unusual ore condition, but there is much in it of use to every cyanide millman. It leaves very little room for criticism, though there may be differences of opinion in regard to some of the chemistry phases with which I am not conversant. I am struck by the enormous amount of persistent, painstaking, conscientious research work involved, and in the careful, sincere way in which the methods and difficulties have been described. Persistence and sincerity are the key note of the effort. It should have a good educational effect on the rising generation of millmen, and it should continue for long as a work of reference, and a spur to others. There has been an important by-product, the training and development of the young men engaged in the work. Three of them became superintendents of important mills. One was sought for important work in Africa, another has joined a large research organization in the United States.

Jan 1, 1946

[AFFILIATED STUDENT SOCIETIES 38 BYLAWS 69 Amendments 80 Board of Directors Meetings 73 Committees76]

Jan 1, 1946

Jan 1, 1946

By A. C. Fieldner

This is the tenth annual report of research and technologic work conducted by the Bureau of Mines on the occurrence, properties, mining, preparation, and uses of coal and coal products. These annual reviews are guide's to the current work-and publications of the Bureau but do not replace the more complete reports published under the authorship of the individual investigators on specific problems in Bureau of Mines bulletins, technical papers, reports of investigations, and information circulars and in the technical press. The Annual Report of the Director of the Bureau of Mines to the Secretary of the Interior for the Fiscal Year ended June 30, 1945, summarizes the year's work on coal as follows: Coal and Coal Products The United States maintained its No. 1 industrial position in supplying fuel for war and in preparing for peace through more complete mining, improved preparation and up-grading of coal for special uses, and better utilization of coal in industrial establishments and homes.

Jan 1, 1946

By Alfred H. Bell

IN 1945, Illinois produced 75,210,000 bid. of oil, or 4.4 percent of the total for the United States, and ranked sixth in the nation in oil production for the third consecutive year. Production decreased about 3 per cent from that of 1944, when the total Illinois production was 77,413,000 bbl. This is the smallest percentage of decrease in production in the state for any year since a peak was reached in 1940. Daily average production for 1945 was approximately 206,000 bbl. Daily averages by months were as follows:

Jan 1, 1946

By O. C. Wheeler

In order that the series of reports on oil and gas in Colombia may be complete, the report for the year 1941, which was not available for Volume 160 of the TRANSACTIONS, is given here. The report for 1945 begins on page 4o6.

Jan 1, 1946

By J. HUNER

Twenty-four new fields were found in Louisiana during 1945. Of this number 15 were oil fields, eight were gas condensate, and one a dry gas field. None of these fields, with the exception of West Delhi, is as yet of any great consequence. The Weeks Island field in Iberia Parish may eventually develop into a considerable reserve.

Jan 1, 1946

By W. G. Sinclair

THE North Texas district presented in this paper includes the counties of Archer, Baylor, Clay, Cooke, Foard, Hardeman, Jack, Knox, Montague, Wichita, Wilbarger and Young. It corresponds with the Texas Railroad Commission's district No. 9. Table I conforms with the nomenclature of pools as designated by the Commission. Most of the oil and gas produced in this region, generally referred to as the Red River uplift, comes from the Pennsylvanian strata. In recent years, however, increasing amounts are being developed in both the Mississippian and Ordovician.

Jan 1, 1946

By AIME AIME

Annual net production of crude oil from the Anglo-Iranian, Oil Company's fields in Iran for the years 1940 through 1945 amounted to: YEAR TOTAL PRODUCTION (Long Tons) 1940 8,626,639 1941 6,605,320 1942 9,399,231 1943 9,705,769 1944 13,274,243 1945 16,835,000 (preliminary figure) All developed fields were on almost continuous production throughout the war, though their operation naturally was hampered by war conditions, which affected particularly supplies of equipment.

Jan 1, 1946

By Theron Wasson

Michigan's production of 17,301,000 bbl. in 1945, which is in line with previous years, has been maintained by extensions to old fields like Deep River, Adams, Fork, and others. There were a number of new discoveries but, as in the past, these are not given very much importance because enough drilling has not been done to develop their potentialities; however, judging by the past, some of them will develop enough production so that 1946 -will probably be in line with other years. Activities in Michigan were confined to the Basin area of the lower Peninsula, which has been under development since 1925.

Jan 1, 1946

By EL HANAF

The exploratory program initiated in Egypt in 1937 by four major oil companies was well under way early in 1939. Extensive gravity-meter surveys were carried out in the Sinai Peninsula and the Eastern and Western Deserts. Seismic and magnetometer work vas conducted on a restricted scale. The data collected justified wildcat drilling on structures located geophysically and/or geologically.

Jan 1, 1946

By LEE H. CORNELL

Drilling activity in Kansas during 1945 continued at an accelerated pace to meet the demands of war; 1810 tests were drilled as compared with 1856 tests the previous year, 1771 tests in 1943, and 1516 tests in 1942. During the year 31 new oil pools and 10 new gas pools were discovered. Of a total of 364 wildcats drilled, 323 were dry; and of 1446 tests drilled in pools, 825 were oil wells, 197 gas wells, and 425 dry holes.

Jan 1, 1946