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By John A. Mathews

It is twenty years since the writer made his first molybdenum steels and others were making them commercially five years earlier but the prevailing opinion seems to be that molybdenum steels are new; from time to time the daily press speaks of important discoveries in Europe and intimates that American steel makers have much to learn in regard to alloy steels. The earlier experiments were largely confined to the use of relatively high percentages of molybdenum in tool steels and permanent magnet steels. Recent developments deal with the types of alloy structural steels used for airplane, automobile, and other engineering requirements; in these, the molybdenum content is usually less than 1 per cent. The earlier types generally have been unsuccessful commercially, but the newer types of steels are becoming of increasing importance. The war showed our dependence on foreign sources for alloying metals; molybdenum alone is widely distributed in the United States and seemingly abundant. Many deposits are not now of commercial interest, owing to location and relatively small amount of ore available, but other deposits are being developed and a stable source of supply seems well assured. In tool and magnet steels, it was early found that 1 part of molybdenum was equivalent to from 2 to 2.5 parts of tungsten. The permanent magnet steels investigated by Madame Curie,' in 1898, contained from 3.36 to 4.05 per cent. molybdenum; in 1902, Dr. E. L. French and the writer thoroughly tested steels containing from 2.0 to 4.0 per cent. These steels gave satisfactory tests for permanence, but were low in residual density and much more sensitive to hardening than the corresponding tungsten products. We discontinued work with them, therefore, and have no advice that such steels have been used commercially here or abroad. Prior to the development of the Taylor-White process and the modern high-speed steels, air-hardening steels were in general use. These were

Jan 1, 1922

By Enrique Touceda

As in the case of steel and the non-ferrous alloys in general, the use of the microscope in connection with the manufacture of malleable cast iron has proved of inestimable value to the industry. Had its use not been invoked, many facts either would not be known at all or, if suspected, would be confined to the realms of conjecture. No fairer statement could be made than that the start of real progress in the industry was coincident with the application of metallography to the product, though the full significance of this statement can hardly be appreciated except by those who not only are conversant with conditions as they existed at the time referred to, but are familiar with the character of works' practice at the present time.. A few years ago, about the only test made to ascertain the physical properties of the product, except in the case of certain plants, was the bending of a casting to destruction, not only with the object of discovering whether or not the metal was ductile, but for the purpose of inspecting the fracture. The characteristics of the fracture, if correctly interpreted, were known to be of value in locating the trouble in castings that were inferior. In general, it was found that if a casting of medium or heavy section would bend through a wide angle before failure took place, the fracture in the majority of cases would have a black velvety appearance; while if it was held at different angles to the direction of the rays of light, it would show a change of color and an iridescent sheen. But an inferior air-furnace heat or anneal might yield castings which, if thin and consequently largely decarburized, could be bent double on themselves and still not possess the fracture described. If, on the other hand, a casting broke short, its fracture might have one of a great many different color and structural peculiarities. Depending on the cause of the trouble, such castings might have any of the fracture characteristics, of which the following is but a partial list.

Jan 1, 1922

FEBRUARY 20TH. MORNING SESSION: The fourteenth regular meeting of the Rocky Mountain Coal Mining Institute was called to order in the Magnolia Room of the Albany Hotel. Monday, February 20th at 11 o'clock A. M., with the President, Mr. R. M. Magraw, in the chair, sixty-two members being present. The first number upon the program was the reading of the minutes of the previous meeting by the Secretary. There being no corrections or alterations, the minutes were approved as read. As Mr. Dan Harrington was unavoidably absent, his paper, subject: "Coal Mine Accidents and State Mining Law" was, by request of the President, read by Mr. J. Q. Lalor. Following this was a short discussion. There being no further business the meeting adjourned. AFTERNOON SESSION: The meeting was called to order in the Magnolia Room of the Albany Hotel at two-thirty o'clock P. M. with President R. M. Magraw presiding, fifty-eight members being present. Mr. Ben Shubart and Prof. J. C. Roberts were appointed a committee to draft and telegraph a message of condolence to Mr. E. S. Brooks of Rock Springs, Wyoming, on account of the recent death of his daughter. The com¬mittee submitted a copy of the following telegram, which was read by the Secretary: "E. S. Brooks, Rock Springs, Wyoming. We extend to you and your family our sincerest sympathies in your deep affliction. (Signed) THE ROCKY MOUNTAIN COAL MINING INSTITUTE." The following resolution was next presented by the Secretary and upon motion, duly seconded was carried by a unanimous vote: WHEREAS, it has come to the knowledge of this Institute that the Coal Mining Course of the Colorado School of Mines has been abolished; and

Jan 1, 1922

By Graham Bright

Up until a few years ago most of the electrical equipment used in the mines of this country was developed for industrial purposes and was adapted for use in mines by slight modifications. It became apparent, however, that mining conditions differed widely from most industrial applications and it became necessary to design and develop apparatus, particularly suited for use under mining conditions. Most of the electrical apparatus used in mines today, however, does not owe its success entirely to mining development, but in many cases developments in other branches have been taken and improved upon and modified to meet mining conditions. Power Plant: In the earlier days the power plant for the production of electric power usually consisted of fairly small belt driven direct current generators operated from reciprocating non-condensing steam engines. Today where possible the mines purchase power from central stations and where not possible it is ususally produced from turbine driven plants using non-condensing turbines for the smaller plants and condensing turbines for the larger plants. The bad water conditions at many of the coal mines in this country is, responsible in a large measure for the high cost of upkeep and repairs in isolated power plants. This feature with the type of labor available makes it difficult to operate an isolated plant condensing except in the larger mines where water conditions are good and the apparatus can be taken care of. The geared turbine is a particularly simple and rugged piece of apparatus and requires very little attention over long periods of time. Hoists: The first electric hoists to be installed used various types of motors designed for railway or industrial purposes, and the control furnished was far from satisfactory. Today most of the mine hoist motors are of the alternating current type, especially designed for hoisting service. The control for motors of 200 H. P. or over is usually of the magnetic of liquid rheostat type, and as built today will operate over fairly long periods with a very moderate cost of up-keep. Hoists of 1000 H. P. or larger are usually of the direct current type using field control and receiving power from a flywheel or synchronous M. G. set. Hoists of this type have made remarkable records in regard to continuity of operation and low cost of up-keep. Where high speed operation is desired in either coal or metal mines, the D. C. equipment using field control and a separate M. G. set to supply power to the hoist motor is not only the safest and most economical but in many cases is the only type of equipment capable of satisfactorily obtaining the output required. A number of improvements have been brought out with the field control scheme in connection with the acceleration, retardation, overfeed and overwind of the hoist. With these new developments the hoist operator can no longer abuse the hoist by improper manipulation of the control handle. Until a few years ago the matter of safety devices was not given much consideration when installing hoisting equipment. At the present time the safety devices are considered one of the most important items in connection

Jan 1, 1922

By William E. Ford, Edward Salisbury Dana

The Nitrates being largely soluble in water play but an unimportant r81e i~ Mineralogy. SODA NITER. Rhombohedral. Axis c = 0.8276; rr" 1071 A 7101 = 73' 30'. Homeo- morphous with calcite. Usually massive form, as an incrustation or in beds. Cleavage: r (1011) perfect. Fracture conchoidal, seldom observable. Rather sectile. H. = 1.5-2. G. = 2'262.29. Luster vitreous. Color white; also reddish brown, gray and lemon-yellow. Transparent. Taste cooling. Optically -. w = 1'5874, e = 1'3361. Camp. - Sodium nitrate, NaN03 = Nitrogen pentoxide 63'5, soda 36'5 = 100.

Jan 1, 1922

By Carle Hayward

AT THE February, 1916, meeting of the Institute, a paper presented by Hayward and Raymond gave the results of a study on the effect of time in tempering medium-carbon steel, when the following conclusions were reached: It is not fair to consider the question settled when only three specimens were used for each treatment, but the results obtained indicate that for reheating quenched medium-carbon steel to temperatures below 500° it is only necessary to heat it through. Longer heating has little or no effect on the tensile strength, ductility, or hardness. At temperatures above 500°, increasing the time of treatment causes a slight falling off in hardness and tensile strength with a corresponding increase in ductility. In the discussion of the paper these conclusions were attacked and evidence presented that seemed to throw doubt on their accuracy. The authors, however, showed that this evidence was based on high-carbon or alloy steels and no facts regarding medium-carbon steel were presented. During this study the heat treatment was carried out in a small electric resistance furnace. It held nine specimens, but when these were placed in the furnace the temperature was lowered to such an extent that 30 to 40 min. were required to reach the desired heat. The authors pointed to this as a weak point in the investigation and it seemed wise to supplement the research by work on similar steel but using a different method of heating. This has been done and the results are given in the present paper. The Rhode Island Tool Co. cooperated by furnishing the steel and turning the tensile specimens.

Jan 1, 1922

IN the present paper it is the writer's intention to largely confine the subject-matter to details relating to the metallurgical practice in connection W,ith the blast roasting of lead ores at the Port PiJ;ie works of the Broken Hill Associated Smelters Pty. Ltd. rather than to elaborate on mechanical plant details which are more or less standard equipment of the average Dwight and Lloyd or Huntington-Heberlein blast roasting installations (hereinafter referred to in the text as D. & L. and I.I. & H. respectively). The present blast roasting plant is a combination ot D. & L. straight line machines and IQ-ton H. & H. pots. The latter installation was an operating unit prior to the introduction of the D. & L. machines, the pre-roasting then being accomplished in Ropp roasting furnaces.On the introduction of the D. & L. machines the use of the Ropp roasting furnaces as a pre-roasting unit was discontinued, and this step of the process was then carried out on one section of the D. & L. installation.Consequently, then, the present plant consists of (1) A section of D. & L. machines, which operate solely as a pre-roastiIig unit. (2) A section of D. & L. machines which operate to their full capacity as 3, final roasting unit and treat the main portion of the pre-roasted material.

Jan 1, 1922

By Thomas Varley

[For a year or more, statements have appeared in the technical press, and Especially in various trade journals, indicating that valuable metals such as gold, silver, platinum, and other rare metals, have been found and also have been successfully extracted from oil shales. These reports stated tat decarbonization and special methods of chlorination treatment, leaching and subsequent Precipitation, also cyanidation followed by table concentration of the residues after cyanidation, all indicated that told ad silver and other metals could be, and were, successfully recovered. Such articles have caused much misunderstanding, and as the correctness of some re of the statements made in them were questioned by some of the technical journals and by various chemists and metallurgists, an investigation of the subject. was begun by the metallurgical division of the Bureau of Mines, in order, if possible, to determine to what extent, if any, metals of value do occur in oil shales, and if so, the feasibility of attempting their recovery by tie processes said to have been used for teat Purpose. Inasmuch as the Bureau's station at Salt Lake City is investigating the recovery of oil from oil shales, the investigation of too recovery of metals from oil shales was assigned to my direction as superintendent 'of that station. An agreement had been entered into with the owner of m extensive oil shale deposit in Wyoming whereby I would personally collect the samples' of shales for use in the investigation.]

Jan 1, 1922

Stuart Manwaring Buck, a member of the Institute from the first year of its existence, and one of its Managers from 1883 to 1885, died at his home in Bramwell, West Va., on July 16, 1921, at the age of 79 years. He was the son of David and Matilda S. Ruck of Boston, and was educated at Williams College, at the Massachusetts Institute of Technology and at the School of Mines at Freiberg, Germany. Mr. Buck was one of the pioneers in the development of the coal fields of West Virginia. From 1872 to 1877 he was connected with the Kana-wha and Ohio Coal Co. as engineer and as lessor; from 1877 to 1888 he was general manager of the East Bank Coal and Coke Co.; from 1888

Jan 1, 1922

By James F. Kemp

In earlier gears, the custom prevailed of regarding the anthracite basins as cases of folding with slight development of faulting. Folding is so pronounced and, in the eastern and western Middle Fields, at times so violent, that the inference was a natural one and led to the widespread impression that practically all the disturbances of the seams could be explained in this way. The cross-sections and maps prepared forty or more years ago for the Second Geological Survey of P ennsylvania, by Mr. Ashburner under Prof. J. P. Lesley, exhibit little else than folds.' So far as I can discover faults fail in the charts, except in one small case in the Henry colliery near Plainsville on the outskirts of Wilkes-Barre. Some years ago, while spending a day or two in Wilkes-Barr, under the guidance of R. V. Norris, I looked over some recent and accurate cross-sections of a numbcr of the large collieries and was deeply impressed with the peculiar behavior of some of the seams and the intervening shales. Thus, a seam might present a small, more or less overturned fold, rising 30 to 50 ft. (9 to 15m.) above its general course, and yet the movement would be taken up in the overlying shales, so as hardly to be noticeable in the seams next above or below. These and similar anomalies, especially when shown with the accuracy of engineer's surveys, possess great scientific and practical interest, bearing as they do, not alone on coal mining, but on theoretical geology and the actual behavior of strata under great compressive stresses. In preparation for the semicentennial meeting of the Institute, an effort was therefore made to secure some of the most interesting sections for presentation to the members. The collection of illustrations here shown is mainly due to Douglas Bunting of the local committee, to whom and to the contributing companies acknowledgments are due. The illustrations are taken from all four of the main basins, but are chiefly from the portions nearest Wilkes-Barre. The first are in the

Jan 1, 1922

TABLE ONE Accidents occurring in the Coal Mines of Utah by fiscal years: [Deaths ........................ Permanent total disability ...... Permanent partial disability. .... Temporary disability: .......... 28 days and over 14 to 28 days ............... 4 to 14 days ............... Under 4 days ]

Jan 1, 1922

By W. A. Thomas

Steam is, and doubtless always will be, the basic power in the anthracite industry, either directly applied through engines and pumps or electrically. The rapidity with which electric power is being applied to the mining and preparation of anthracite leaves little doubt as to its utility and economy. There is practically no operation, except possibly the drilling of hard rock, that has not been successfully electrified and the matter of drilling is handled economically with electrically driven compressors and the standard compressed-air drills. Conservation and the seemingly ever-increasing cost of production, justify careful consideration of the possible results of the more extensive use of electric power in the industry. It is not planned to discuss, herein, the relative economies of individual applications but to consider the relative economy and flexibility of steam and electric power. The reports available for the year 1920 indicate a production of slightly over 80,000,000 tons of anthracite, of which 8,843,500 tons were used for power and heating purposes; in other words, over 11 per cent. of the production was used at the mines. Some of this was used to generate electric power at the mines, about 160,000,000 kw-hr., while 150,000,000 kw.-hr. was purchased from the public utility companies. One large producer, who is buying some electric power and generating some, used over 13 per cent. of the production for power and heating at the mines. Another producer, where considerable electric power is generated on the properties, is using less than 9 per cent. of the output for power and heating. One of the largest producers has a fuel consumption of over 15 per cent. of the output, besides which considerable power is purchased. A careful study of the field indicates that steam-operated plants use upwards of 13 per cent. of the production for power and heating, while electrically operated plants use about 1 per cent. for heating; so that, for steam-power purposes at least 12 per cent., or 268.8 Ib., are used for power out of each ton produced. In the complete electrification of anthracite mining operations, no set rule can be given for the power requirement, in kilowatt-hours per ton, as conditions vary widely in the matter of pumping, ventilation, and transportation, but the following cases are given as a basis of determining a range and a possible average power requirements:

Jan 1, 1922

By William E. Ford, Edward Salisbury Dana

296. Definition of Specific Gravity. - The specific gravity of a mineral is the ratio of its density * to that of water at 4' C. (39'2' F.). This relative density may be learned in any case by comparing the ratio of the weight of a certain volume of the given substance to that of an equal volume of water; hence the specific gravity is often defined as: the weight of the body divided by the weight of an equal volume of water. The statement that the specific gravity of graphite is 2, of corundum 4, of galena 7-5, etc., means that the densities of the minerals named are 2; 4, and 7'5, etc., times that of water; in other words, as familiarly expressed, any volume of them, a cubic inch for example, weighs 2 times, 4 times, 7.5 times, etc., as much rn a like volume, a cubic inch, of water. Strictly speaking, since the density of water varies with its expansion or contraction under change of temperature, the comparison should be made with water at a fixed temperature, namely 4' C. (39'2' F.), at which it has its maxi- mum density. If made at a higher temperature, a suitable correction should be introduced by calculation. Practically, however, since a high degree of accuracy is not often called for, and, indeed, in many cases is impracticable to attain in consequence of the nature of the material at hand, in the ordinary work of obtaining the specific gravity of minerals the temperature at which the observation is made can safely be neglected. Common variations of temperature would seldom affect the value of the specific gravity to the extent of one unit in the third decimal place.

Jan 1, 1922

By H. F. Moore

We have studied the simple case of repeated stress, without considering impact, which might bring in other factors. This investigation has shown that steel under repeated applications of stress, reversed from positive to negative, will not fail below some fairly clearly defined limiting stress that, so far we can see, does not bear any definite relation to the ordinary elastic limit, being as large as the elastic limit in some cases and about one-half the elastic limit in others. According to one theory, fatigue is the result of changes in crystalline structure by repeated stress. I do not know of any evidence in favor of this theory. The crystals are broken under repeated stress. According to Bauschinger, under repeated stress some inherent property of the material changes its elastic limit; possibly some property of the amorphous cement between the crystals. A third theory is that all fatigue of metals is the result of the spread of damage from little localized overstresses. While I do not feel justified in accepting the last theory rather than the second, I have yet to run across a case of failure of steel or other metal, either in the laboratory or in service, that could not be explained by the gradual spread of damage from some nucleus. We have found, for example, that it is possible to subject a homogeneous steel, like Armco iron or a 0.90 per cent. carbon steel, that has been thoroughly annealed, to one hundred million reversals of stress as high as the elastic limit of the steel with no sign of failure. On the other hand, a complex structured steel, like a chrome-nickel steel that has been hardened with very little drawing, will fail at a stress about 58 per cent. of its elastic limit. Between these two we get a variety of results. In the steel work of any building, there are undoubtedly many thousands of places where structural damage was done—where riveted members were bent into place cold and where the rivets were fitted with drift pins, etc. Locally the steel in the building was stressed beyond its yield point in many places. These little localized overstresses do no damage at all; the building is entirely safe. But if this building were subjected eight or ten times a day to a mild earthquake, these little localized overstresses might be nuclei from which damage would spread

Jan 1, 1922

Oxy-ACETYLENE system of welding and cutting is at present practised in two forms, which may be described as the high and lowpressure systems. In the high-pressure system the two gases, oxygen and acetylene, are delivered. to the blow-pipe under pressure from properly constructed trade cylinders. Oxygen cylinders are in two sizes, each containing 100 and 200 cub. ft. of gas respectively. These cylinders are charged to a pressure of 120 atmospheres, or 1800 lb. per sq. in. approximately. The acetylene cylinders are made in one size as far as the writer knows, and contain 200 cub. ft. of acetylene gas at a pressure of 10 atmospheres. Each cylinder is provided with a valve and connection for attaching a regulator to "break down" the high pressure in the cylinders to the necessary low working pressure of the blow-pipes, and to deliver the two gases at a constant pressure irrespective of the variable pressures in the cylinders. These regulators can be adjusted down to as low as 1 lb. and are provided with two pressure gaugesone reading the contents of the cylinder in atmospheres, and the other the working pressure in lb. per sq. in. The high-pressure, or "two cylinder" system is compact and can readily be transported from place to place in the works. For this purpose the two cylinders are mounted on an easy-running 4-wheeled truck, which the operator and assistant find no difficulty in manipulating. In the low-pressure system the two gases are delivered to the blow-pipe, one from the oxygen cylinder and the other from the acetylene gas generating plant, which consists of the following:Generating cylinder, half filled with water, into which the cathoide is plunged. The generated gas is passed through a filter to the gasometer, then through a water washer on to the hydraullic seal...

Jan 1, 1922

By William E. Ford, Edward Salisbury Dana

The aluminate, ferrates, etc., allied chemically to the borates, have been already intro- duced among the oxides. They include the species of the Spinel Group, pp. 418-423, also Chrysoberyl, p. 423, etc. SUSSEXITE. In fibrous seams or veins. H. = 3. G. = 3.42. Luster silky to pearly. Color white with a tinge of pink or yellow. Translucent. Index, 1.59.

Jan 1, 1922

By Robert Linton

This paper deals with work that has been carried on for over three years by the management and staff of the North Butte Mining Co. in an effort to standardize mining methods, to eliminate lost motion in the operating organization, and to improve the efficiency of the individual workman. Naturally, much of this work is an adaptation of ideas suggested by other mining operations or by practice in manufacturing and other productive industries. The studies, however, have developed some features that it is believed are new. Both new and adapted features are given in detail. The normal capacity of the North Butte mines is about 2000 tons per day. Hoisting is done principally through the Granite Mountain shaft, which is 3740 ft. (1140 m.) deep and equipped with an electric hoist capable of hoisting 200 tons per hour from a depth of 4000 ft. (1219 m.). The lowest stoping level is the 3400-ft. The Granite Mountain shaft is connected with the Speculator shaft, about 850 ft. (259 m.) south, and with the Gem, about 1150 ft. (350 m.) east, which are 3000 (914.4 m.) and 2000 ft. (609.6 m.) deep, respectively. These two shafts are equipped with reversible fans for ventilation. The Speculator has a steam hoist with a capacity of 150 tons per hour from the 3000-ft. level. The Granite Mountain shaft is concrete lined from the 1600-ft. to below the 3000-ft. level and gunited with cement from the 1600-ft. level to the surface. Sections of the Speculator shaft with a total combined length of 500 ft. (152.4 m.) are also concreted. There are approximately 36 miles (58 km.) of drifts and crosscuts in the mine, in which there are 15.2 miles (24.5 km.) of track. At normal capacity, about 75 stoping faces, 20 raises, and 30 sill development faces are working. Stoping is usually by the standard square-set method. Where the size of the oreshoot and character of the walls permit, the rill (or cut-and-fill) system is employed. Scope and Limitations of Standardization Standardizing mining operations presents problems quite different from the problems of the manufacturer. Methods of a successful

Jan 1, 1922

By R. Dawson Hall

*This paper was not read as it arrived too late. In the beginning of the last century "cottage industry" gave way to the factory system, and at present manufacturing that was once performed in homes is done wholly in factories. Division of labor came into being at the same time. In earlier years rarely more than a half-dozen men worked at the home of the master workman. Each group performed all the labor involved in changing crude material to the finished article, and many of the masters in a cottage industry themselves took the raw material and converted it by their own efforts into a highly specialized product ready for the market. Mining has in a degree moved in the same direction. But for the most part every man still has his own room. Pick miners in many places get their cars at the room neck, push them to the face, undercut their coal, drill their shot-holes, load and fire them, complete the breaking down of their coal, fill their cars, push them to the entry and also test their roof for weak spots, examine for gas, timber their rooms, bail them out and lay their own track. Mining is still in a way a "cottage" industry, only the cottage is a room in the mines instead- of a home. The men who gather the coal and take it to the tipple are in a measure like the middlemen who went from cottage to cottage and gathered the product of the owners or "masters", to use the term then prevalent. The change in ordinary industry from old methods to new came with machinery. The machines then introduced needed power for their operation, and distribution of power from house to house was too great a task for those times. Power could not readily be taken to machinery where water power only was available. It was necessary for the machinery and its workers to go to the power. Nor when steam was harnessed could every cottage have its steam engine. Compressed air and electricity had not arrived, and con-

Jan 1, 1922

By N. A. C. Smith

This report on the physical and chemical properties of typical crude oils of southern Louisiana and southern Texas is the seventh in a series of preliminary chapters of a bulletin covering the producing districts of the United States. Preceding reports* may be obtained from the Bureau of Mines on request. The details of the methods used in this survey in collecting samples and making laboratory tests have been discussed in the first three papers. A method of summarizing and interpreting the laboratory data has also been given, but most of the crudes included in the present report differ so radically from those previously reported, that it has been found advantageous to adopt a somewhat different method in making summaries. This method is described in detail later. If any errors or omissions are noted by readers, it is hoped that these will be brought to the attention of the Bureau of Mines, for correction before the appearance of the final bulletin.

Jan 1, 1922

By F. M. Van Tuyl

The oil industry had its inception in the United States in 1859 when the first oil well was drilled by Col. Drake at Titusville, Pennsylvania. From, a production of 2000 barrels for that year there was a slow but steady increase, with some fluctuations, up to 1901 for which year the output was approximately 69,389,194 barrels. Since that time the production has increased with leaps and bounds due to the rapid rise of the automotive industry, the widening use of oil as a fuel under boilers and the development of the. Diesel engine. The production for 1921 is estimated to have been 469,639,000 barrels. During the same year more than 125 millions of barrels were imported from Mexico. The oil industry, including the production, transportation, refining and distribution of petroleum and its products, is now the third largest in the country. Present Condition of the Industry During and immediately after the war the demand for petroleum exceeded the domestic production plus the imports from Mexico with the result that our storage oil was heavily drawn upon. Prices for crude exceeded all previous levels in the history of the industry. Pennsylvania crude sold for $6.10 per barrel and Mid-Continent crude for $3.50. Such prices stimulated wildcatting greatly with the result that several important new oil pools were discovered. Then as production increased the depression came which caused a large falling off in consumption. Pennsylvania crude fell to $2.25 per barrel and Mid-Continent to $1.00. Large oil companies such as the Standard, Sinclair and Empire took advantage of the situation, erected additional storage tanks and bought up millions of barrels to hold until better prices returned. Prices have already improved owing to a better market, but the domestic production coupled with the Mexican importations is still in excess of the demand with the result that the surplus is being stored. At the close of the year 1921, the U. S. Geological Survey estimates that there were 183,890,000 barrels of crude in storage in this country, the largest stocks in the history of the industry, yet an amount sufficient to supply the country for only 119 days at the present rate of consumption. Price reductions are again anticipated in some quarters but in view of the probable falling off in the Mexican output in the near, future due to the rapid rate of exhaustion of several of the most important pools and in view of the expected increase in consumption of gasoline and kerosene during the spring and summer months it is more likely that the present price level will be maintained. Present Sources of Domestic Supply Seven major oil fields are recognized by the U. S. Geological Survey in the United States. These are the Appalachian, Lima-Indiana, Illinois, Mid-Continent, Gulf Coast, Rocky Mountain and California. Two of these, Mid-Continent and California, supply about seventy-five per cent of the present total domestic output

Jan 1, 1922