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By Joseph Pogue

IT is well known that one of the cornerstones of economic theory is the so-called law of supply and demand, which, really, is a group of economic laws, one of which may be succinctly stated A rise in price tends, sooner or later, to increase supply. It is the fear that, in the case of petroleum, a limited' natural resource, a point will soon be reached when supply will not respond adequately to price advances, which in recent years has prompted a movement for oil conservation. This movement has lately taken concrete shape in the appointment of 'a Federal Oil Conservation Board by the President. An important aspect of the law of supply and demand is that the supply of any commodity, is not an entity per se, but is a factor of price. Supply, without the specification of, price, has no exact meaning; and, in practice supply cannot be divorced from considerations of price. Mathematically, supply may be expressed by the formula SP, which means that supply varies with price, just as the value of 10 raised to the x power varies with x. In its technical usage, supply is the, quantity of a commodity that is bought currently on the market at a given price. In the case of a natural resource, however, this quantity will eventually depend not alone on price but on the physical volume of the reserve that exists and that, in consequence, can respond to the stimulus of price. If this reserve is fixed in size, we must sooner or later reach a point where supply can no longer respond to price in the usual degree and a permanent shortage will develop which no advance in price can correct, except in so far as higher prices may curtail demand or improve the efficiency of utilization. This statement brings us to the examination of amore fundamental aspect of the law of supply and demand as applied to natural resources; namely, that natural-resource reserves are not fixed in size: just as the current supply of a natural-resource commodity is a function of price, so its reserve is likewise a resultant of price. Natural-resource reserves; therefore, have no exact meaning without the specification of price, and in practice their measurement. cannot be divorced from considerations of

Jan 3, 1925

By R. W. Raymond

The name of Oswald J. Heinrich first appears among the members of the Institute in the first volume of its Transactions, which records that lie was elected at the Boston meeting, in February, 1873. That name has stood ever since upon our catalogue of active members. It has appeared frequently in the reports of our debates. It has been attached to many interesting and important professional papers. Henceforward it must hold a place, silent but significant, ill the pathetic lengthening list of our departed. From a present

Jan 1, 1886

By C. P. Davenport, Garth Duell

What are the projected electrical power needs of the nation and of the Northwest during the next 15-20 years? No one who has researched the subject has reached a substantially different result than the following simple conclusion: electrical power requirements are doubling every decade. There are some who question the necessity of a power company's need to install capacity every ten years equal to what it has done during its entire previous history; there are even those who would argue that such growth should be arbitrarily curtailed. However, a power company must, by law, meet its responsibilities of providing the energy the public expects when the switch is thrown.

Jan 10, 1972

By K. Tajrych

Time and again, lives are lost in underground cave-ins only be- cause there is no quick, sure way of locating the victims. When such accidents happen, rescuers must usually depend on the testimony of eye- witnesses for information on the whereabouts of trapped miners. Seldom is this information reliable. The witnesses themselves have just been through a traumatic experience that has distorted or destroyed their sense of time and place. A far more reliable method of finding men underground has recently been developed by the Coal Mining Research Institute of Ostrava, Czechoslovakia. With this system, a miner can be located with adequate precision even if he shows no sign of life. For the system to work, the miner need only have his electric cap lamp somewhere nearby. The system consists of a minute radio transmitter operated by the lamp battery (Fig. 1). This tiny transmitter continuously emits high- frequency electromagnetic waves that can be picked up by a sensitive direction-finder receiver in case of accident.

Jan 8, 1969

By Ali Altway, M. E. Tunison, T. W. Chapman

Simulations of various contactor configurations for simultaneous extraction or stripping of two metals reveal the dependence of conversion and selectivity on operating and design parameters A two-film mass transfer model is used to provide the rates in countercurrent column and stirred-tank cascade calculations Even in these mass-transfer-limited cases the stoichiometry of the extraction reactions introduces nonlinearities and interactions between the two metal transfer rates, but these can be represented In a suitable model One conclusion is that a countercurrent column should be considerably more efficient than a cascade of mixer-settlers of comparable size.

Jan 1, 1981

Jan 1, 1949

Jan 1, 1917

Attention! Engineers! Geologists! Here is your Opportunity to be of Professional Service The war has interrupted the supply of many minerals, which were normally imported. In view of present transportation conditions, a serious shortage exists in certain materials and will soon develop in others. Some immediate action is imperative. The first thing is to take a careful inventory of American resources. We must know where the ore deposits are, what has hitherto hindered their utilization, what methods must be used, and what equipment will be needed if an emergency demands their rapid development. Many properties must be re-examined from a new point of view, that of present necessity rather than of normal profit. When the shortage is realized, the preliminary steps for relief should have been completed. It is a necessary and patriotic form of mineral insurance. Will you have a part in it? Do not forget that these are war times, and that what may have been valueless a year ago may be a "life-saver" now; an abandoned copper prospect of 1913 might make a successful pyrite mine in 1917. We are fighting an autocratic enemy who knows his resources to the last pound, and uses them with most efficient organization. We have no Kaiser, so each of us must do his share to put our Government in the same situation. The Government needs your facts.

Jan 8, 1917

By W. C. Coons, E. H. Rennhack, R. A. Perkins

THE constitution of Ti-N alloys containing up to 17.5 wt pct N has been investigated by Palty, Margolin, and Nielsen.1 Their results, which confirmed earlier work

Jan 1, 1969

The age of specialization has made man increasingly dependent on a larger number of different metals and minerals. Overexploitation during World War II and lavish squandering of irreplaceable mineral wealth in the past has resulted in the rapidly approaching exhaustion of some of the major domestic ore sources. History clearly points out that the United States cannot continue to be a world power on an "import to survive" policy. A constructive program of development and appraisal of the nation's mineral wealth, including the planned conservation of her resources, must be adopted. Strictly speaking, conservation of minerals must mean the orderly exploitation of our resources and the prevention of waste in use, with due regard for the future. Real concern for the future may not extend beyond a few generations. Eventually science and invention should take care of the problems arising from shortages of some minerals, and the national defense aspects of domestic deficiencies can be provided for by stock piling and other measures. Early conservationists had this viewpoint; but with a rapidly developing industry and population, a farsighted policy that would deny full realization of immediate ambitions became unpopular. Consequently, the politically minded conservationist broadened the concept to include "prudent use of resources" and brought under the conservation umbrella

Jan 1, 1950

By D. A. Dahlstrom

D. R. Lyons (Republic Steel Corp., Cleveland)— Some tests using wet tables conducted by an operating company to determine the effect of table-water density on the quality of the washed coal should be of interest. The only variable during the testing period was the percentage of solids in the table water. Table operating data are shown in Table XV. The ash content of the washed coal remained constant or nearly so, as the percentage of solids varied while the sulphur content of the washed coal decreased as the percentage of solids increased.

Jan 1, 1952

By R. E. Zimmerman

D. R. Lyons (Republic Steel Corp., Cleveland)— Some tests using wet tables conducted by an operating company to determine the effect of table-water density on the quality of the washed coal should be of interest. The only variable during the testing period was the percentage of solids in the table water. Table operating data are shown in Table XV. The ash content of the washed coal remained constant or nearly so, as the percentage of solids varied while the sulphw content of the washed coal decreased as the percentage of solids increased.

Jan 1, 1952

By C. H. Burgess

ON June 5, 1947, Secretary of State George C. Marshall in a speech at Harvard University outlined a plan for the economic recovery of Europe. The plan contemplated that the United States should provide assistance which would enable the European nations better to help themselves and to help each other to reconstitute from their war-torn lands conditions which would make possible decent standards of living. The Foreign Assistance Act of 1948 was passed in April of that year, and established the Eco-

Jan 10, 1950

New Products Equipment

Jan 2, 1953

By Richard P. Rothwell

At the Boston Meeting of the American Institute of Mining Engineers in February last, Mr. George W. Mansfield read an interesting paper on " The Electric Motor in Mining Operations," and he entered into the calculations of power required and cost of transmitting energy in great or small quantities to a considerable distance. I do not intend to go over this ground, or to enter into any discussion of the technical details of transmitting power by electricity, but merely to set up a milestone on the road of progress to show where we now are, how far we have come, and if possible

Jan 1, 1889

By C. E. Feltner

In a recent note, Meleka and Hiarris1 have reported that the application of a constant strain rate Ad a superimposed cyclic stress to 99.99 pct polycrystal-line zinc at room temperature produced some marked effects in the resultant behavior. In their work, one end of the specimen was pulled in tension at a constant strain rate while the other end was subjected to a sinusoidally varying load (20 cps) of constant amplitude. For the slower strain rates and the larger superimposed cyclic loads, it was observed that the specimen could withstand strains prior to failure more than 100 pct greater than the fracture strains obtainable in simple unidirectional straining. This ductility effect was interpreted as being due to a cyclic stress enhanced thermal recovery process. It is the purpose of the present note to describe some related effects in 99.99 pct polycrystalline cadmium. Specimens were loaded in repeated tension at room temperature with a stress of sufficient magnitude to cause failure in about 1000 cycles and the accumulated strain was measured as a function of cycles and time. In addition, some specimens were subjected to a steady creep stress equal in magnitude to the peak value of the cyclic tensile stress. The resultant strain-cycle and strain-time curves for both types of test are shown in Fig. 1. It should be noted that the static creep specimen failed in about one third the time required to produce a cyclic failure but in the cyclic test the specimen was able to withstand a uniform strain before necking more than 50 pct greater than that possible

Jan 1, 1963

By C. W. Spencer, K. A. Semlak, F. N. Rhines

IN an effort to obtain a better understanding of sintering in the presence of a liquid phase, it was decided to study the rate of capillary rise of a relatively low melting liquid metal in a higher melting metal powder compact. By assuming that the metal powder compact consists of a great number of parallel capillary tubes and that the flow of liquid

Jan 1, 1958

By G. M. Wells

A view of the map of Floridat shows the phosphate-deposits to lie on the western side of the State, extending southward over

Jan 1, 1896

By W. E. Gaby

THE form of dip chart here presented for the use of the profession was devised by the author when he was confronted with a particularly heavy job of geological section making and. did not have any of the usual tables or charts at hand. This was at the property of the Teziutlan Copper Co. in Puebla, Mexico, where the orebodies are much faulted and lie conformably with a slightly inclined and. much folded schist. Because of the low dip and the folding of the orebodies, the engineering, and geological data respecting them were best represented on vertical cross-sections quite closely spaced. A less finished form of the chart was published in the Mining & Scientific Press of Aug. 6, 1921, with an explanation of its use. I have checked the new drawing for accuracy against the calculated table given, and constructed an explanatory diagram beneath. As some geologists are accustomed to using the table, I have included it, since no advantage is obtained by mere interpolations from the chart to get the required angle, except as it gives a mental picture of this angle. The chart gives a more rapid and much easier solution when cases multiply so that it becomes desirable to eliminate the tedious manipulations of a separate protractor. In fact, using the parallel ruler as des-cribed, it is not even necessary to make note of the angle sought. It is brought out graphically, leaving the mind free to note the correlations. The chart itself may be made more convenient by reproduction on celluloid with a slot running on the zero line of the protractor.

Jan 9, 1922

By William Glenn

Almost beyond doubt, the most important contribution to the assaying of copper yet made, is that of Mr. Eustis (Bans., xi., 120) on the " Comparison of Various Methods of Copper Analysis," which indicates in a manner for which the assayer cannot but feel grateful, how a copper sample ought to be treated from the moment it enters the laboratory until the copper is finally weighed. Admitting, as the present writer is inclined to do, that this paper establishes, as the official standard, the method of electrolysis, we may note as one of the few details which it does not finally fix, the kind of battery most desirable for precipitating the copper upon platinum. In this respect each assayer appears to be a law unto himself, while all feel more or less " shaky " as to the results. Classsen seems to suggest a remedy when he directs the measuring of the -gases liberated by the battery employed. But, in fact, that measure is not a constant in the Bunsen elements which he prescribes for copper determination. Furthermore, measuring gases necessitates more machinery and labor than the average assayer has a stomach for. It is, however, but just to Classen, to whom we owe so much, to reeall that he wrote more especially for students in the schools.

Jan 1, 1889