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By H. J. Wasson, L. W. Mayer

The existing large stocks of raw materials have induced misgivings in the minds of many as to near-view prospects for a return to higher commodity price levels. Until stocks are materially reduced—and this operation will probably extend over a protracted period—a buyers' market will continue. Meanwhile the matter of production cost becomes more and more a factor of consequence to industrial management, finance and the investing public. With many commodities a general level of costs exists with which the public has been made familiar. Certain conditions surround these industries which, at the outset, determine whether there is a basis for sound commercial results. In other words, it can generally be determined in advance whether or not the cost of production is sufficiently below the normal average price to return a reasonable profit over the years. With all domestic agricultural products there are available exhaustive Government studies in the field of production costs. Such figures as the average cost of wheat, cotton, sugar, etc., are reiterated constantly. There are many products of foreign origin such as coffee, rubber, raw silk, etc., the production costs of which are to most of us matters of deep mystery. Forest products also are so diversified that few but specialists know what a thousand feet of lumber really cost at the mill, especially where remotely located. However, with respect to products of mines, production cost information has been widely disseminated. The literature is replete with such data. Here we find that without any special help from outside agencies the industry itself has given publicity to a large variety of cost figures. For example, we know, or know where we can ascertain, the cost of producing a pound of copper from Chile, Arizona or the Lake Superior district. In many cases we can secure from the company reports a vast amount of detail leading up to the cost per ton of ore and the cost per unit of the metal yield. These records are of great assistance to the mining industry as a means of estimating on new exploitations. This industry has been production-cost-minded almost from the beginning.

Jan 1, 1931

By Robert Gillham, Victoria Yablonsky, Grover R. Castle

INTRODUCTION The commercial paper market, unique to the United States, is a direct exchange of funds between high-grade borrowers and large lenders; because it eliminates both the bank's role as middleman and also some significant transaction costs, commercial paper is the lowest cost short term instrument in the world. For this reason, virtually all borrowers would like to enter the market, but only issuers with the highest rating from Moody's and Standard & Poor can attract purchasers at the best rates. COMMERCIAL PAPER The commercial paper market, in existence for over 100 years, has traditionally been used for short-term financings, with most paper maturing within 30-45 days. Under the U. S. Securities Act of 1933, (section 3(a)3) industrial paper can avoid registration only if it matures within 270 days and is used for current transactions. It was first used to finance the short-term seasonal working capital needs of manufacturing companies. Since World War II, commercial paper use has grown steadily, serving in the 1950's as the market in which finance companies financed the explosion in consumer credit purchases of heavy consumer durables. LETTER OF CREDIT BACKING As far as is known, the use of letters of credit to support energy-related commercial paper began about 13 years ago with an arrangement to finance the nuclear fuel for Con Edison's Indian Point 3 Plant. Goldman, Sachs was the architect of this financing and Chemical Bank provided the letter of credit support. After an early burst of interest, this type of financing wobbled severely in the difficult credit markets of the mid-seventies before regaining serious momentum in 1976 and 1977. A mining project would not normally qualify as a borrower in the commercial paper market because of its credit standing and because its large capital needs require long term financing. However, lately, commercial paper has begun to take the place of a bank term loan in limited recourse project financings. L/C backed commercial paper took this new and startling turn in 1982 when it was used as part of the $700 million financing for the development of the Newlands-Collinsville coal mines of Mount Isa Mines Ltd. in Australia. This was the first use of L/C backed commercial paper in a long-term limited recourse project financing. First Boston acted as financial advisor and, again, Chemical Bank provided sole letter of credit support of $155 million. The $785 million BHP financing for the acquisition of the Queensland (Australia) coal assets of Utah International from General Electric Company followed the next year; there we acted with two other Front Banks to provide $270 million of L/C support. These two important transactions indicate that not only has commercial paper become an integral part of a long-term financing package, but also that it is no longer the exclusive domain of the best known U. S. companies. Lesser-rated companies and a multitude of foreign borrowers have gained access to this "exclusive club." How has this become possible? OPERATION OF AN L/C An instrument of the commercial banks, the "direct pay" letter of credit, has enabled lesser-rated companies to issue commercial paper in their own names. The letter of credit allows the issuer to substitute the credit rating of the supporting bank for its own. The L/C in effect allows a lesser-rated company to rent the bank's credit rating. This upgrading is possible because the bank is unconditionally obliged to pay the note-holders at maturity and then turn to the Issuer for reimbursement. The Issuer commonly "rolls over" a new short-term issue and reimburses the supporting bank from the sale of the new issue until cash flows from the project allow the borrower to reduce the level of paper outstanding. The commitment for an L/C facility, up to 12 years in the case of the Broken Hill transaction, governs the life of the commercial paper tranche of the financing. The term of the L/C commitment thus has the power to extend the ordinary 30-45

Jan 1, 1985

THOSE NOT MARKED ARE MEMBERS; MARKED THUS ? ARE ASSOCIATES. HEAVY-FACED TYPE SIGNIFIES HONORARY MEMBERSHIP. JUNIOR ASSOCIATES ARE MARKED II. THE FIGURES AT THE END OF THE ADDRESS INDICATE THE YEAR OF ELECTION. ?AARONSON, ALFRED E Pres., Tuloma Oil Co., Unity Bldg., Tulsa, Okla. '18 ABADIE, EMILE R., Min. Engr Box 291, Porterville, Tulare Co., Cal. '76 ABBOTT, CLARENCE E., Gen'l Supt., Iron Mines Div., Tenn. Coal, Iron & R. R. Co. 1405 Minnesota Ave., Bessemer, Ala. '04 ABBOTT, LOUIS BENJAMIN, Chief Engr., Consolidation Coal Co., Elkhorn Div. Jenkins, Ky. 115 ABBOTT, ROBERT R. Met. Engr., Peerless Motor Car Co., Cleveland, Ohio. '12 ABE, ASAKA Fujitagumi Taiwan Office, Taipeh Formosa, Japan. '14 ABEEL, GEORGE H., JR., Cons. Min. Engr., 4111 Lafayette Ave., St. Louis, Mo. '18 ABEY, HIROSHI, Min. & Met. Engr., Arakawa Mine, Mitsubishi Co., Senpoku-gun, Akitaken, Japan. '17 ||ABOUCHAR, S. S., Cia. de Minerales y Metales, S. A. Santa Eulalia Unit, Apt. 70, Chihuahua, Chih., Mexico. '17 ABRAHAMS, A. I 1391 Madison Ave., New York N. Y. '14 ?ACKER, E. O'C., Met., 128 East Washington Lane, Germatown Philadelphia, Pa. '86 ACKER, WILLIAM L., Diamond Drill Contractor... Mears Bldg., Scranton, Pa. '18 ?ACKERMAN, ERNEST R., Pres., Lawrence Portland Cement Co. Plainfield, anion Co.. N. J. '15

Jan 1, 1923

By H. C. George

CAREFUL- sampling and good judgment as to probable recoveries are important factors in estimates of ore reserves, based on prospecting drilling results, but other factors are equally as important and may be more misleading and perhaps disastrous if not properly interpreted. Some of these are: 1. The case where no, ore is shown in the "sludgings," when, as a matter of fact, the drill has passed through a thick sheet of ore which has been broken up and washed away into open crevices. In numerous cases, later mining operations have shown that this has happened. This condition may be discovered by shooting the drill .hole at the point where the open crevices occur, but shooting should not be done until after the drill hole is completed, because the resulting shattered formation may salt the drill hole at lower levels. 2. The case where rich cuttings are shown for a thickness of 20 or 30 ft., when ore was encountered in only the first sludging. Owing to soft or loose formation, the ore from the first sludging has salted the lower sludgings. The presence of large pieces of ore and a similar ratio between zinc and iron assays in the lower sludgings frequently indicate this condition. In the lower sludgings, the presence of oxidized ore in unaltered limestone sometimes shows this condition. 3. The case where the drill hole shows a considerable thickness of ore; but owing to the presence of a vertical sheet of ore, perhaps not more than 1 in. thick, at the place where the drill hole is located, the good assays resulting might be misleading. If this condition is suspected, the drilling of several more holes within a distance of 10 or 15, ft. will usually show it.

Jan 1, 1921

By S. S. Clarke

Late in 1942, the increasing demand for zinc, coupled with the growing shortage of miners and the knowledge that some abandoned mines would have to be reopened for prospecting and development, led to considerable thought as to the possibilities of further mechanization in order to conserve man power. The ore bodies, locally termed "sheet ground," are an important ore bed in some mines and are in the lower part of Boone formation of the Mississippian Series. Some mines contain interbedded layers of nearly pure galena and sphalerite in horizontal sheets ranging in thickness from a thin seam to several inches and is persistent over large areas. This type of ore body offered the best opportunity for study and experiments. The use of Jumbo drill carriers was advanced but some doubt was expressed as to the adaptability of Jumbos as then in use to mine headings as compared to post and arm mounting (Fig I). Another consideration was the introduction of truck haulage when several mines were trackless. A drill frame, built to carry 2 4-in. drifters, was mounted on a truck chassis. This design proved a failure as it was not rigid and the resiliency of the tires and springs allowed too much play. Long screw jacks were then used to hold the truck firmly in place, but placing the jacks and securing the truck required more effort and time than setting up post drills, so the truck carrier was abandoned. The use of a bull dozer underground had been under consideration for some time to be used in "brunoing" the broken dirt from behind pillars and other inaccessable places so the slusher drags could load without double dragging the dirt. A dozer with hydraulic blade lift was purchased and R. I. Tuthill, Superintendent of Section 30 Mines, suggested that a long drill arm be substituted for the blade, and the drills mounted on the cross member. The hydraulic lift would permit drilling holes at any required spacing. The "cat" was very mobile and answered the problem of a trackless mine. The initial tests showed that the "cat" would make a good carrier, but the hydraulic controls were not positive enough to keep the drills in alignment while drilling. The next step was to build a small hoist. This hoist was attached to the power take-off on the "cat" and by means of sheaves and a double line of 3/8-in. hoist cable, a positive control for raising and lowering the boom was obtained. To avoid serious injuries to the drillers should the cable break, a safety chain was fastened to the drill boom and hooked into a slot in the back of the "cat" frame. A different power unit was obtained for the "cat," as a state law prohibited the use of internal combustion engines in mines. A custom machine shop had just placed on the market a small hoist powered by a Model A Ford engine that had been very ingeniously converted to a slide valve engine using compressed air. To use this unit on a "cat," our master mechanic de-

Jan 1, 1949

By David R. Mitchell

Many of the difficult operating problems of the preparation of coal for market, of sampling coal shipments and in the utilization of coal are caused by segregation in the coal mass. Segregation may be of two kinds: i.e., "size segregation," in which particles of the same size in a mass of coal containing a range of sizes collect together and "density segregation," in which particles of the same density or specific gravity in a mass of particles of varying density gather together. Mechanics of Segregation Size segregation cannot take place with closely sized coal. As the size range increases, the tendency for size segregation increases. Similarly, cleaned coal with particles of approximately the same specific gravity have very little tendency for density segregation. The wider the density range of particles and the more particles of different density, the greater the chances are for density segregation. The following discussion deals primarily with coal of a wide size range as screenings and of wide density differences as uncleaned or run-of-mine screenings. If a mass of coal containing particles of a wide size range is subject to the stream action of a moving current of water, the small particles are transported farther than the coarser. Particles of different density in a stream of moving water are subject to the laws of classification, the heavier settling out first. The familiar sluice box of the gold miner and the action of rivers and other streams in classifying material according to

Jan 1, 1938

By David R. Mitchell

Many of the difficult operating problems of the preparation of coal for market, of sampling coal shipments and in the utilization of coal are caused by segregation in the coal mass. Segregation may be of two kinds: i.e., "size segregation," in which particles of the same size in a mass of coal containing a range of sizes collect together and "density segregation," in which particles of the same density or specific gravity in a mass of particles of varying density gather together. Mechanics of Segregation Size segregation cannot take place with closely sized coal. As the size range increases, the tendency for size segregation increases. Similarly, cleaned coal with particles of approximately the same specific gravity have very little tendency for density segregation. The wider the density range of particles and the more particles of different density, the greater the chances are for density segregation. The following discussion deals primarily with coal of a wide size range as screenings and of wide density differences as uncleaned or run-of-mine screenings. If a mass of coal containing particles of a wide size range is subject to the stream action of a moving current of water, the small particles are transported farther than the coarser. Particles of different density in a stream of moving water are subject to the laws of classification, the heavier settling out first. The familiar sluice box of the gold miner and the action of rivers and other streams in classifying material according to

Jan 1, 1938

By M. H. Sommer

MANY attempts have been made to develop a relation between the tensile properties and the deep-stamping qualities of metals com-monly used in deep drawing. These operations are generally performed cold and the metal is always stressed beyond the elastic limit. However, the problem cannot be readily solved without a proper investigation of (1) the relation between actual stress and actual strain in the plastic range and (2) the stresses that are set up in the metal during the process of deep stamping. Much work has been done in recent years to add to our knowledge on plastic deformation of metals and the shortcomings of the ordinary tensile test, particularly in the plastic range, have been sufficiently recognized. It has been widely acknowledged that the local contraction, which appears in a tensile test after the maximum load is reached, is not a general characteristic of the material but is peculiar to this form of testing. The plastic deformation of materials is explained by the slip of their crystals along certain planes and this rearrangement should be similar whether observed in a tensile, compression or torsion test, and if the results of any of these forms of testing show deviations, it must be due to other influences, as for example the local contraction in a tensile test. For this reason the tensile-test curve as obtained from the measurements taken on a tensile-test machine or registered by an autographic device has been supplemented by the so-called "actual stress-strain curve," which is constructed from the observed tensile-test data by eliminating the effect of local contraction and is in complete alignment with the stress-strain values obtained in a compression or torsion test. The actual stress-strain curve shows the increase of actual unit stress in relation to unit elongation beyond the yield point and

Jan 1, 1934

By John D. Gill

THIS paper assumes the incontrovertible nature of the statement that the validity of competition in the nonnatural resource industries is established firmly on the rate and extent of the economic development of the United States. It then demonstrates the nonexistence of any condition within the petroleum industry that would invalidate the principle of competition as applied to it. It points to the benefits that competition has effected in the oil industry and the reasons why the practice of the competitive principle should continue to keep the industry virile and progressive in meeting the requirements of future generations for the kind of products natural to it. Finally, it pleads for a clearer view of the affairs of the oil industry by seeing them against a background of the whole economy. INTRODUCTION Even a few years ago there would have been only an academic reason for presenting before this Institute a paper on the validity of competition in the oil industry or any other natural resource industry; today there is no more practical subject for this body to consider. In social importance it transcends attempted solutions of perplexing technical problems; and even the numerous legal and economic problems that grow out of administration of state regulatory measures appear to be of secondary importance because they would cease to exist if competition were abolished. The aspiration of certain elements of the Federal Government to acquire control of the oil industry has long been suspected The vital need for petroleum in the national defense ... confirms my belief in the urgent need of Federal legislation to safeguard our petroleum supply through prevention of waste and by establishment and maintenance of sound economic conditions in the oil industry... . But also it may be dismissed with this mere mention of it because it predicates government control and the abandonment or broad reduction of competition on a war emergency. Clearly, the fight for a nation's life may justify a government's control over men and resources that would be abhorrent and economically enervating under conditions of national security. More pertinent to the present matter, because it appears expressive neither of a personal ambition nor of an emergency condition but rather of the long-range view of a certain school of conservationists, is the pronouncement of no less an authority than the Attorney General of the United States, who has been repeatedly quoted by the press as saying that the American Petroleum Industry constituted a case "where the principle of conservation of an exhaustible and irreplaceable resource should replace the principle of competitive exploitation." The significance of this statement in the light of the commonly accepted meanings of the " principle of conservation" and of the "principle of competitive ex-

Jan 1, 1941

By H. P. Leighly, F. C. Perkins

THERE have been several statements in the literature about the difficulty of producing single crystals of high-purity (99.99pct) by the strain-anneal method. Consequently, investigators tend to employ low-purity aluminum for their single-crystal experiments, or else resort to the Bridgman or other techniques which depend on solidification for the production of single crystals. The following paragraphs describe a solid-state method for the manufacture of single crystals of high-purity aluminum which should provide crystals with greater perfection than those formed by solidification. The starting material for this method of producing single crystals was secured from the Aluminum Corp. of America and has a purity of 99.99 pct, the balance being trace amounts of impurities. Specimens approximately 1 by 4 in. are sheared from sheet having a nominal 0.050 in. thickness. The specimens are given a preliminary anneal at 640°C for approximately 3 hr in order to remove fabrication strains and to produce an average grain size of about 1/4-in. diam. The specimens are then etched in Tucker's etchant (45 pct HC1, 15 pct HNO3, 15 pct HF and 25 pct H2O) to remove the oxide film. Critical strain is applied by wrapping each specimen about a 1 3/4 in. round and subsequently straightening it against a flat surface. The high-purity aluminum sheet is sufficiently soft that this operation can be accomplished by ordinary finger pressure. The specimens are immediately annealed again at 640°C for 3 hr and reetched for examination. Ordinarily, considerable growth of certain of the grains will have occurred, and occasionally a single crystal will be produced on the first attempt. The procedure of alternately straining, annealing and etching is repeated until the majority of a batch of specimens contains usable crystal sizes. Typical examples are illustrated in Fig. 1. The greatest changes in crystal sizes are produced in the initial treatments. As the average crystal sizes get coarser in the later treatments, the sever- ity of the strain must be increased in order to produce grain boundary- migration. This increase in severity is effected by decreasing the diameter of the round used for straining (to 1 1/2 in., for example) and/or wrapping the specimens about the round twice, with opposite faces in contact with the round, before flattening. Usually the strain treatments described are not severe enough to produce nucleation in coarse grain high-purity aluminum. The growth of grains occurs by strain-induced grain-boundary migration. It has been observed that the grain boundaries move most readily during the first hour or so of each annealing treatment and that the rate of movement decreases with extended holding times at temperature. Prolonged annealing treatments are therefore not usually beneficial. Similarly, the rate of growth of each crystal appears to depend upon the orientation of the crystal with relation to those of its neighbors. Frequently island grains are formed after the initial heat treatment as the result of slow grain-boundary migration. These sometime become stationary during later heat treatments. Twin orientation interfaces are frequently developed during annealing. These imperfections can usually be removed by increasing the severity of strain to produce actual nucleation of new grains of more favorable orientation at the imperfection interfaces. The largest single crystals produced in our laboratory by the above method measured 4 by 1 by 0.050 in. Examination of Laue back-reflection patterns from a limited area of the specimens, gave no evidence of polygonization. Probably there is some indication of polygonization in the original grain area provided a more sensitive technique is used for detection. Experiments to produce wider specimens were less successful, possibly because wider sheets increase the complexity of the strains induced by deformation and promote widespread nucleation. Grain boundary migration occurs preferentially in a direction parallel to the longitudinal axis of the specimen. The choice of specimen geometry with respect to the rolling direction of the sheet appears to be immaterial in regard to the production of single crystals.

Jan 1, 1961

By J. Parke Channing

IT, HAS been my privilege to be Chairman of Engineering Council for very nearly three years, during which time Mr. A. D. Flinn, the. Secretary, and myself, have seen the organization develop until it is functioning smoothly and accomplishing what it can with the money at its disposal. The earliest attempt at what may be called an Engi¬neering Council, of which. I have any knowledge, was made six or seven years ago when the four Founder Societies each appointed two men, who occasionally met to discuss matters submitted to them which were of importance to, the, profession as a whole. I was one of the representatives of the American Institute of Mining Engineers.

Jan 1, 1920

During the year Jan. 1 to Dec. 31, 1916, 962 applications for member-ship in the Institute were received, as compared to 558 during the corresponding period in 1915. The lines along which the Committee has, worked during the year, group themselves under seven principal heads. Large Companies.-Early in the year a letter was addressed to each member of the Institute who is the executive head of an organization, pointing out to him the advantages that would accrue to that organization through having as many of its subordinate members as were qualified participating in the activities of the Institute. This was followed by a second letter to those who made no reply to the first. The response to these letters was very gratifying, 12 new members having been secured at a single plant, and smaller numbers at others. This was effectively supplemented by our President, who wrote the executive heads of some of the largest mining and smelting companies, pointing out to them the advantage to be derived from sending some of the junior members of their staff to attend the Arizona Meeting. One organization sent 24 of its younger men, many of whom were not members of the Institute, but who, subsequently sent in applications for membership. It is to be hoped that the precedent thus set' will be acted 'on in -fuller measure in succeeding years.

Jan 2, 1917

By H. E. Stauss

THE time-to-fracture test has been applied to pure platinum and to two alloys of platinum under the special conditions of small cross-sectional area of the specimens and of a test temperature above the annealing temperature. While the results are similar in character to those secured with large specimens of steel at temperatures below the annealing temperatures, two differences are noted: (I) an upward inflection in the curves for log stress vs. log time for the alloys, and (2) a sharp break in the curve for log stress vs. log time for pure platinum when single crystals filled the wire. The experiments showed that: (I) platinum and 10 per cent rhodium-platinum maintained their strengths at 1100°C. better than did 10 per cent iridium- platinum, and (2) the rhodium-platinum after a time exceeded the iridium-platinum in strength at 1100°C. Platinum alloys in their service at high temperatures encounter conditions some- what similar to those that exist in the usual form of the time-to-fracture "l test with steel. This paper is intended primarily to present results obtained by a "time-to- fracture" test under conditions approximating actual service for platinum (at the temperature 1100°C. under oxidizing conditions) with three materials, pure platinum (99.99 per cent), a platinum alloy with lo per cent iridium, and a platinum alloy with 10 per cent rhodium. The experimental procedure differed from that previously used in this type of measurement in that the samples were of small diameter (0.010 in.), were fully annealed, and were tested at a temperature definitely above their annealing points (600°C., 1000°C. and 1050°C., respectively, for 60 per cent cold reduction and 15 min. heating time2,3). The experimental arrangement was similar to that previously described,4 using as heating unit a small, horizontal, platinum- wound furnace, ½ by 12 in., maintained at constant temperature by an automatic controller. The samples were 0.010-in. wires, which had been annealed at 1200°C. by drawing them slowly through the furnace. The time-to-fracture was measured electrically. Elongation was not determined because of the difficulties inherent in the experimental arrangement. Life-that is, the time-to-fracture-was considered the important property in these first tests. No attempt was made to measure the reduction in area, but the types of fracture were noted qualitatively; in the text they are referred to as (I) the normal, plastic, or necked fracture, (2) the knife-edge fracture, and (3) the brittle or intercrystalline fracture with small reduction of area. Results for different constant applied stresses are plotted in Fig. I. In all cases at least two trials were made for each stress, although they cannot always be indicated separately on the curves. The breaking stresses drop very rapidly to a small frac-

Jan 1, 1943

Jan 1, 1962

By Vincent P. Gianella

THE most intense earthquake on the Pacific coast in the last several years, and probably the second most intense shock to occur in Nevada since it was settled, was felt in many Western States shortly after 10 p.m. on Dec. 20, 1932. Be- cause the rifted area contered about the northern end of Cedar Mountain it is referred to as the Cedar Mountain, Nevada, earthquake. An idea of the intensity of the shock may be gathered from the distance at which it was felt: in Wyoming, Utah, Idaho, Nevada, Washing- ton, Oregon, California and Arizona. It is the strongest quake centering in Nevada since the Pleasant Valley earthquake on Oct. 2, 1915. Despite the strength of the vibrations and the large area over which they were felt, relatively little damage was done. The extent of the damage consisted of a few old stone buildings demolished as shown in Fig. 1, much cracked and fallen plaster, many chimneys shaken down and considerable cracking of brick walls. There were no deaths and four people were but slightly injured. The small amount of damage was due, largely, to the scarcity of structures within the area of strong vibrations, but an important factor was the aridity of the region (see Fig. 2) and the shallowness of soil cover so that there was but little water-saturated loose material in which strong secondary vibrations could be formed. Had this earthquake occurred in a region of heavy precipitation and dense population the damage to property and loss of life would undoubtedly have been large, with consequently much more newspaper publicity.

Jan 1, 1933

By Ferid Kromer

This paper is the first in a series which will describe geology, mining methods, and production costs of some, of Turkey's more important minerals. In this paper the economically significant minerals-chromite, meerschaum, and magnesite-of the Tagtepe district are described. The cost data presented are believed by the author to be the first made public on Turkish chromite mining.

Jan 1, 1950

By Heinrich Oscar Hofman

IN THE death of Professor Hofman who was born on Aug. 13, 1852 and died on April 28, 1924, the world has lost a great metallurgist and a great author of metallurgical literature. Measured in time his life was not quite seventy-two years, but measured in work accomplished it was much longer than this. It is not surprising that Dr. Hofman became a great scholar for his father, Karl Hofman, was on the faculty of Heidelberg University, and his early days were spent in these surroundings. He studied in the University under such men as Kirchoff and Bunsen and often spoke of the intimate relations he had with them. Following his course at Heidelberg, he studied at the Clausthal Mining Academy where he graduated with honors, receiving the degrees of Mining Engineer and Metallurgical Engineer in 1877.

Jan 1, 1924

By C. S. Corbett

There is much comment at present in the ranks of the oil industry regarding unit operation of oil fields and the benefit that would accrue if it could be extensively applied. It seems certain that, as an immediate corrective of the present situation, overproduction could be effectively curtailed with all the advantages of proper conservation of petroleum resources and with no important loss to anyone connected with the industry. Unit Operation in Certain Foreign Fields Many an oil operator in America would doubtless like to have exclusive control of one or more oil-bearing structures for development in accordance with the economic position of the industry and especially in accordance with the best production practice known. A few operators now have this privilege, particularly in certain foreign fields, and are following lines of procedure which show that they are aware of the great opportunity that is theirs. We find in an article by Professor Strigeoff,1 and in a paper read by Captain Comins2 before the American Petroleum Institute, the outlines of procedure adopted, respectively, by the Soviet Government for the nationalized Russian oil fields and by the Anglo-Persian Oil Co. for its fields in Persia. Comprehensive plans for the unit operation of other oil fields may have been described publicly but no such descriptions have come to the attention of the writer. New fields are coming more and more into the hands of single operators or of a few who control large activities and who appreciate fully the need for cooperative action and are willing to forego the lure of a large quick profit from high flush production in order to secure the advantage of better stabilization in the industry and a larger though more deferred profit by operating the field as a unit. Much can be done toward efficient development of an oil field controlled by a few operators who are willing to cooperate for that purpose, but the best result can be obtained only by pooling their interests in the field

Jan 1, 1930

By DR. RICHARD RATHBUN

ON behalf of the Regents and the Secretary of the Smithsonian Institution, it gives me great pleasure to welcome you to the National Museum; but it is to your own museum, since it belongs to you in common with all the people of the country. Still young in a life which has been beset with many difficulties, it has gathered strength and attained a growth quite unprecedented. In fact, it is this very growth which has been the chief cause of trouble, always leading far and away beyond the capacity for storage ; and to-day there is nearly as much material contained in outside buildings as is displayed in this one. You will, accordingly, find the collections crowded, the cases so close together that their contents are often difficult to view, and the arrangement generally lacking symmetry. You may, therefore, be inclined to regard us as poor custodians of the collections of a great nation, but I beg you to withhold your judgment for a while. From the beginning there has been abundant zeal and activity and a proper direction of affairs, but space and money have been lacking. There is now a prospect of better times. All about you here is a beautiful park, but without. a covering it is not adapted to museum purposes. Upon it, however, a new large building is going up, so extensive in its dimensions that technology can soon be given a fitting home, thus realizing one of the earliest aspirations of the Regents. Some sixty-five years ago the extensive returns of specimens from the famous Wilkes Exploring Expedition around the world began to reach Washington, where they were deposited in the Patent Office Building, and formed practically the first of the National Collections. Six years later the Smithsonian Institution, based upon the bequest of James Smithson, was

Jul 1, 1905

By R. E. Crockett

MAGNETITE mining and milling in the Eastern States was at capacity during 1940, owing to the heavy industrial, defense, and war demand, coupled temporarily with the almost total stoppage of imports of foreign ores other than those under American ownership. In New York State the active mines were those operated by the Republic Steel Corp. at Mineville and Lyon Mountain. Republic's new concentrating mill at Port Henry, handling the Mineville ores, went into production about the first of April. Other large magnetite deposits in New York are currently being prospected and studied and may be under development in the near future. In New Jersey the Mt. Hope and

Jan 1, 1941