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By W. G. Cornwell, R. J. Hisshion

The development of a process for the treatment of telluride concentrates at Emperor Gold Mining Co. Vatukoula, is discussed. The concentrate is produced by flotation in cyanide solution immediately after milling. Two stages of cleaning are employed and a high-grade concentrate is produced usually containing more than 50% of the precious metal. The process developed in the first instance involved batch roasting followed by batch leaching in strong cyanide solution, recovering gold and silver only. The procedure currently employed is chemical oxidation of the tellurides using hypochlorite as the oxidant in a basic solution of a caustic soda and sodium carbonate. After oxidation the gold and silver are recovered by cyanidation. The residue is then leached with sodium sulfide and elemental tellurium precipitated with sodium sulfite.

Jan 1, 1977

By O. U. Bradley

The extent of losses, due to evaporation, sediment, and water, in crude oil stored in steel tanks, is a very interesting question, and particularly so at this time, when every reasonable measure should be employed to eliminate all possible losses of this important natural product. Available information on this subject is incomplete; e.g., during the development of the Cushing Field, considerable surplus oil was stored in steel tanks, but from time to time, owing to changes in weather, some losses by evaporation and short storage room on the leases, these tanks were topped out, thus rendering inaccurate any system designed to determine the average rate of evaporation or other losses of the oil over a given period. Furthermore, the losses, as shown by the records at the time, as a result of hasty gages, failed to take into account the temperature and gravity of the oil. Losses may be classified roughly as occurring from evaporation, presence of sediment and water, and leakage. The coefficient of expansion and contraction of crude oil, in relation to temperature conditions, is of material importance; also, the rate of evaporation is dependent upon the gravity of the oil, as the escape of the lighter hydrocarbons in fresh Cushing oil, of from 40 to 42 gravity, on a warm day is considerable, and from available records of temporary storage, it is safe to assume that a loss of 1 to 11/2 per cent. in volume will easily occur in light crude oil of Cushing grade over a period of 6 months, including the summer season. The presence of sediment, water, and other impurities, in the oil will also cause more or less deterioration in quality, particularly when the fresh production is run direct from the gage tanks, or from the wells on the lease to steel storage, as is often the case when an oil field is being rapidly developed. The bad oil will settle to the bottom of the tanks and may be determined by thiefing and running a centrifuge test on the sample. The amount of water in the oil depends entirely on the conditions under which it is produced. Sometimes in large producing wells, with heavy gas pressure, some water may come in with the oil, particularly if the well has been drilled to the top of a water sand. Under these conditions, cut oil is often produced, which, if not settled out, is carried over into the steel tanks. The losses by leakage in steel tanks are difficult to determine, for

Jan 1, 1920

By E. A. H. Tays

As I promised, in a former paper on the Bryan Mill,* to give further data regarding the plates from four battery-aprons, I now submit the following: These aprons were 4.5 feet wide by 16 feet long; the first two plates of each apron were 4.5 by 4.5 feet, and the remainder of varying sizes, as can be seen by their relative weights, as shown in the table; but all were 54 inches wide. They were in use 4 years and 9 months, and about 15,265 tons of ore passed over each. The ore was quartz, carrying about the same weight in silver as in gold; showing some copper, and highly impregnated with ferric oxide. The tailings show about 0.6 per cent., and the bullion about 10 per cent., of copper. The silver was present mostly as sulphide; and the copper was also present as sulphide, with some carbonate. The ore treated ill 1898 was a fair average of the whole run; so I take it as an example from which to make a few deductions.

Jan 1, 1901

By F. C. Greene

Development work in western Missouri was continuous during 1933, owing to the shallow depths at which production is obtained and the low operating costs. Unfortunately, no statistics covering the total production of oil and gas during the year are available. No new oil-producing pools were opened in 1933, but the Knoche area in 1.46 N., R.33 W., Cass County, was extended. There are probably less than 100 producing oil wells, all in Cass and Jackson counties, with a combined production of possibly around 150 bbl. daily. Several new gas areas were developed and there were several extensions of old areas, in 1933. Production was extended north by an entirely new pool—the Hammond pool, north of Plattsburg in Clinton Co. (sec. 18, T.55 N., R.31 W., and sec. 13, T.55 N., R.32 W.) where 13 wells were completed, the largest producing 2,332,000 cubic feet. In the Bartle and Marshall pool in secs. 3-4-9-10, T.47 N., R.33 W., Jackson County, four wells opened a new area. The largest well was 1,000,000 cubic feet. There were some small extensions near Independence, Jackson County. Two wells of about 300,000 cu. ft. were completed at a depth of 700 ft. in Kansas City and in a deeper sand than is usually productive. The Shaler area, in secs. 27-34, T.44 N., R.33 W. in Cass County, was extended with several wells, the largest of which was 300,000 cubic feet. The production in the pools mentioned is obtained chiefly from the Henrietta and Cherokee formations of the Pennsylvanian age.

Jan 1, 1934

By Wallace Ralston

The East Texas district includes the northeast 38 counties of the State of Texas. It still remains one of the most important oil-and-gas-producing areas of the United States, since it includes within its boundaries the large East Texas field. Other fields of importance are: Van, Rodessa, Talco, Cayuga, Long Lake and Sulphur Bluff. Production is from the Nacatoch, Blossom, and Woodbine of the upper Cretaceous and the Paluxy and Glen Rose of the lower Cretaceous. Of these, the Woodbine is the most important, since it is the producing horizon iri the East Texas field. Fields East Texas Field.—There were 2471 oil wells, 1 gas well and 84 failures completed during the year of 1936 in the East Texas field; that is, 1565 fewer than in the year of 1935. The total number of producing wells is now 22,031, of which 50 are temporarily shut down; 18,435 wells flowing their production; 3150 pumping; 293 on gas-lift, and 82 operated by other methods. This shows an increase of 1642 wells on artificial lift over Jan. 1, 1935. The average daily salt-water production is estimated at 42,700 bbl. from 2327 wells—an increase of 1201 wells over the year of 1935. The field is now drilled to an average density of one well to 5.85 acres. Average bottom-hole pressure has dropped from 1193 Ib. to 1168 lb., approximately 1 lb. drop for each 6,600,000 bbl. of oil produced. During the month of December 1936, the estimated daily average production of illegal oil had dropped from 20,500 bbl. in December 1935 to 7500 bbl. The commercial gas production is of minor importance in the East Texas field, and figures for the amount of gas taken from the field are not available at the present time. Talco Field, Titus and Franklin Counties.—The discovery well was drilled by Housh, Thompson et al. on the C. M. Carr tract and completed in March 1936, as a pumping well making 552 bbl. per day of 24' gravity oil. This well was first completed at a total depth of 4208 ft., the top of the sand being 4190 ft. Later it was deepened to 4260 ft., which increased the production from 552 to 725 bbl. per day. This field is producing

Jan 1, 1937

By N. S. Stoloff, R. G. Davis

It is concluded from an X-ray stztdy that the formation of the hcp Mg3Cd superlattice is a nuclea-tion and growth reaction. A two-phase, ordered-plus-disordered, region is observed between 153" nnd 141"C. A maximum in the flow stress is observed both at temperature and in quenched specimens within the two-phase region. The peak arises fro112 the extra energy required to create antiphase boundary upon cutting the ordered regions. Hardening during isothermal annealing in Mg3Cd has been shown to be similar to the domain hardening in Cu3Au-type alloys in that up to the maximum the structure is ordered domains growing into a short range ordered matrix. The hardening is due to a combination of short range order strengthening and the strengthening produced when antiphase boundary has to be created. In a recent study1 of the effect of long-range order upon the mechanical properties and deformation modes of hcp Mg3Cd a comparison was made be- tween quenched (disordered) and slow-cooled (fully ordered) specimens. The most striking observations were that the disordered alloy yields at a much higher stress than the ordered alloy, and that there is a change in slip mode from primarily (_0001) ba_sal slip in the disordered state to (0001), {1010}, {1122}, and {l011} slip in the ordered state. The main purpose of the present work is to extend these observations to determine whether MgsCd exhibits a peak in flow stress at an intermediate degree of order, or at a critical domain size, as do other orderedstems. However, disagreement exists about the Mg3Cd order transformation with respect to: 1) the location of the critical temperature for order, 165°C or 153"~,' and 2) how the degree of order varies with temperature. Welber et a1.5 concluded from specific heat measurements that the formation of Mg3Cd is a second-order reaction with the degree of order a continuous function of temperature, while Moore and Raynor concluded that it is neither a first-order reaction, with the degree of order a discontinuous function of temperature, nor a second-order reaction. Consequently it was considered necessary to undertake an X-ray investigation into the change in degree of order and structure in the

Jan 1, 1964

By AIME AIME

ONE of the few students to enter the world's first department of ceramic engineering a few years after its establishment at Ohio State University, A. F. Greaves-Walker has since established an international reputation in that field. Before accepting his present position as professor and head of the department of ceramic engineering at the State College unit of the University of North Carolina, Dr. Greaves-Walker spent twenty years in the ceramic and mining industries in Kentucky, Utah, Ohio, Alabama, Ontario, Pennsylvania, and Georgia successively, holding the positions of chief chemist, mining engineer, chief engineer, sales engineer, chief of research, production manager, and finally vice-president. This industrial experience resulted in his building up one of the outstanding departments of its kind in the country.

Jan 1, 1942

To control the slag in an iron blast furnace is to control the quality of the pig iron produced (and to a certain extent the tonnage), and to control the whole operation of the furnace itself, including a large part of the cost of production. The character of the slag is the determining factor in the character of the pig iron as to the controllable limits of sulfur, silicon, and, to a certain extent, the manganese; it has an influence on the proportions of combined and graphitic carbons.

Jan 1, 1935

To control the slag in an iron blast furnace is to control the quality of the pig iron produced (and to a certain extent the tonnage), and to control the whole operation of the furnace itself, including a large part of the cost of production. The character of the slag is the determining factor in the character of the pig iron as to the controllable limits of sulfur, silicon, and, to a certain extent, the manganese; it has an influence on the proportions of combined and graphitic carbons.

Jan 1, 1935

By Alex G. McKenna, Thomas M. Drown

The unsatisfactory character of most, if not all, of the processes for the direct determination of alumina in the presence of iron and phosphoric acid, and the sharpness with which both the iron and phosphoric acid can be determined, have led chemists to rely mainly

Jan 1, 1892

By G. S. Hume

As predicted a year ago, owing to the discovery in 1936 of crude oil on the west flank of the south end of Tuner Valley in the eastern foothills of Alberta, 50 miles southwest of Calgary, and the drilling activity that resulted, the production of crude oil in Canada during 1937 showed a very substantial increase over the previous year. The production from other parts of Canada is relatively small and shows slight variations only from year to year. The production of crude oil in Canada and the production in Alberta, the main producing Province, is shown in Tables 1 and 2.

Jan 1, 1938

By Warren B. Weeks

Continued development in the deeper fields discovered during 1937 and 1938 was largely responsible for the 16 per cent (2,913,400-bbl.) increase in production, bringing the 1939 output to 21,376,230 bbl., the largest for South Arkansas since 1929. The older settled fields continued to decline and Rodessa was added to this classification. Magnolia field accounted for much of the increase, with Schuler field showing only a slight increase. There were 248 wells drilled during 1939, five more than during the previous year. Of 198 wells drilled in proven fields, 21 were dry; 46 of the 50 wildcats drilled were dry. The old depth record of 8332 ft. was increased to the present record of 9028. Trend of Prospecting Production from the porous " Reynolds " oolite zone of the Smackover limestone continued to be the objective of prospecting. During the year 20 seismograph, 3 gravity meter, 1 magnetometer, 1 soil analysis and 1 electromagnetic crews were reported in the state. The geophysical work was largely concentrated in three southern counties: Columbia, Lafayette and Union. As indicated in Table 2, the same three counties received most of the important drilling tests. At the end of the year only three seismograph crews remained in the areas. The area for prospecting Smackover limestone was greatly narrowed during the year by the failure of two "fault zone" wells to find satisfactory permeability in the oolite zone, and by the relatively thin sections of porosity found in wells drilled in townships 18 and 19 South. Geology Most of the wells listed in Table 2 afforded additional control on structure of the lower beds, but gave little new information on stratigraphy. Of the 248 wells drilled, 3 ended in Tertiary, 34 in Gulf, 1 in Paluxy, 29 in Glen Rose, 15 in Travis Peak, 15 in Cotton Valley, 139 in Smackover, 2 in Eagle Mills and 10 in Carboniferous. The age of the beds between the Travis Peak formation and Carboniferous is still questionable. Most

Jan 1, 1940

By Warren B. Weeks

Continued development in the deeper fields discovered during 1937 and 1938 was largely responsible for the 16 per cent (2,913,400-bbl.) increase in production, bringing the 1939 output to 21,376,230 bbl., the largest for South Arkansas since 1929. The older settled fields continued to decline and Rodessa was added to this classification. Magnolia field accounted for much of the increase, with Schuler field showing only a slight increase. There were 248 wells drilled during 1939, five more than during the previous year. Of 198 wells drilled in proven fields, 21 were dry; 46 of the 50 wildcats drilled were dry. The old depth record of 8332 ft. was increased to the present record of 9028. Trend of Prospecting Production from the porous " Reynolds " oolite zone of the Smackover limestone continued to be the objective of prospecting. During the year 20 seismograph, 3 gravity meter, 1 magnetometer, 1 soil analysis and 1 electromagnetic crews were reported in the state. The geophysical work was largely concentrated in three southern counties: Columbia, Lafayette and Union. As indicated in Table 2, the same three counties received most of the important drilling tests. At the end of the year only three seismograph crews remained in the areas. The area for prospecting Smackover limestone was greatly narrowed during the year by the failure of two "fault zone" wells to find satisfactory permeability in the oolite zone, and by the relatively thin sections of porosity found in wells drilled in townships 18 and 19 South. Geology Most of the wells listed in Table 2 afforded additional control on structure of the lower beds, but gave little new information on stratigraphy. Of the 248 wells drilled, 3 ended in Tertiary, 34 in Gulf, 1 in Paluxy, 29 in Glen Rose, 15 in Travis Peak, 15 in Cotton Valley, 139 in Smackover, 2 in Eagle Mills and 10 in Carboniferous. The age of the beds between the Travis Peak formation and Carboniferous is still questionable. Most

Jan 1, 1940

By F. R. Van Horn

WALLACE MCKEEHAN, Douglas, Ariz. (communication to the Secretary*).-In going over this report, which I have done very carefully, I find that the summary as composed deals with the various problems almost entirely from the employer's standpoint and that practically no consideration is given to the employee's point of view. An experience of 3 ½ years as safety inspector, and almost 30 years as workman-and official, has convinced me that any plan for the betterment of working conditions which will achieve any degree of success must give the workmen their share of responsibility and allow them full participation. The company may finance and direct the movement, but its ultimate success depends upon the support given by the workmen. The cooperation of the men doing the actual work is so essential that all writers insist that this must be secured, but they do not agree as to how this can best be done.

Jan 4, 1917

By W. M. Small

Austria.—Austria produced some 430 cisterns of 10,000 kg. each of crude oil of a 0.9428 sp. gr. during 1934. Gosting II well near Zis-tersdorf was placed on the pump in August and at the end of the year was still producing about three cisterns daily. This well is owned by the Erdöl-Produktionsgesellschaft while Gösting I is owned by Raky-Danubia. Only five wells were completed in the republic during the year. These accounted for 1783.5 meters of the 2225 meters drilled. The only producer completed was Gosting 11. At the close of the year, four rigs were in operation and one rigging up. At least 8 or 10 new wells are planned in Lower Austria for 1935. The European Gas & Electric Co. put its 6-km. gas line into operation in May and has sold 12,301,550 cu. m. of gas to the Vienna City Electric Works. A 2-km. pipe line was built from Gösting II to the railway loading rack near Zistersdorf. Hungary.—No oil or gas was produced except a small amount of gas trapped from flowing artesian wells. The Government completed and abandoned a 1500-m. hole at Tisztaberek in northeastern Hungary and is drilling at 967 m. near Bogáes, 120 km. northeast of Budapest. It is unofficially reported it plans to drill two new wells in 1935. The European Gas & Electric Co. has a rig up for a test at Mihalyi in Transdanubia. Czechoslovakia.—In Gbely (Egbell) there were produced 1283 cisterns of 10,000 kg. of 0.935 sp. gr. oil and a small amount of gas used for fuel. This field is operated by the Government; 17 shallow producing wells and three dry holes were drilled, with a total of 3351 m. of hole completed. In Hodonin (Goding) there were produced approximately 1300 cisterns of 10,000 kg. each of 0.91 sp. gr. oil and a small amount of gas used for fuel. The field is operated by the Apollo, which drilled four producing wells averaging 460 m. in depth, one small gas well of 550 m., one small gas well 260, and one dry hole 230 m. Two wells were deepened a total of 80 meters. The Government is drilling below 800 m. in a wildcat test in eastern Czechoslovakia near the Rumanian frontier.

Jan 1, 1935

By A. L. Holley

The three principal mines from which the celebrated Salisbury iron ores are obtained are called respectively the "Old Hill," "Davis," and "Chatfield" ore beds, and are situated in the town of Salisbury, Litchfield County, Conn., on the eastern slope of the Tocconuc range of hills.* The Old Hill Ore Bed is a tract of land of 100 acres, originally granted by the General Court in October, 1731, to be laid out by Daniel Bissell of Windsor. It mas Boon after surveyed and located by Ezekiel Ashley and John Pell. The descendants of Ashley are still proprietors in the mine. The supply of ore has been very abundant, and for many years was easily obtained, but latterly the cost of raising has been greatly increased. Up to about 1840 the average yield was estimated to be about 4500 tons per annum. The production has gradually increased until the average yield at present is estimated at 15,000 tons annually. The largest production in any one ymr was about 20,000 tons. The proprietors of this mine were incorporated many years ago under the style of " The Salisbury Ore Bed Proprietors." The Davis Ore Bed, named after an early owner, was originally called Hendricks Ore Bed, and was owned before the organization of the town of Salisbury by Thomas Lamb, one of the first settlers

Jan 1, 1879

By Raymond B. Ladoo, C. A. Stokes

Bruce C. Netschert—It is unfortunate that the authors of this paper consider it necessary to begin with an expression of concern over possible false interpretations of the word "economics." In their preoccupation with the definition of economics, they have adopted a definition of mineral economics which is, to say the least, unduly narrow. Just as the broad field of economics is not confined to a study of the profitability of business concerns, but includes the problems of production, distribution, and consumption as they pertain to society as a whole; so an inclusive definition of mineral economics should not be confined to the determination of the profitability of mineral-producing and processing enterprises, but should include the significance of the unique characteristics of mineral resources as raw materials for the use of society. Such features as the exhaustibility and localized, haphazard occurrence of deposits, the existence of a secondary (scrap) supply, and the increasing cost of operation during the life of a mining enterprise are obviously factors which concern those businesses which are producing mineral raw materials, since they partially determine the profitability of such enterprises. They are also of concern to society as a whole, however, as characteristics of one of the basic elements of the economic system. In the last analysis, the contribution which mineral economics can make as a means of determining and guiding social policy with respect to the production and utilization of mineral resources is perhaps more important than its use as a basis for determining the cost accounting procedure of individual firms. The list of "economic factors peculiar to the industrial minerals" which the authors present is in reality an application of such a broad definition of mineral economics. An inconsistency appears, however, in the inclusion of items 8 and 9 in the list. As this writer sees it, the point in question is: What influences do the characteristics of industrial minerals have on the characteristics and operating procedures of industrial mineral enterprises which are not present in the metallic mineral field? In answering this question with items 8 and 9, Messrs. Ladoo and Stokes do not recognize that there are two distinct types of differences between the two fields of enterprise. There are, on the one hand, important basic economic distinctions due to inherent economic characteristics of industrial minerals which do not pertain to metallic minerals. On the other hand are those characteristics of the industrial mineral enterprises peculiar to them alone, but which are superficial and temporary, in that they may be changed or eliminated at the discretion of the managers of those enterprises. The lack of adequate research and development in industrial mineral production, processing, and marketing (item 8) is not due to an inherent characteristic of industrial minerals. It is true that one may perhaps describe the field of industrial mineral enterprise in terms of such a deficiency, just as one could, until recently, point to a similar lack of research and development in the coal industry; but unless it can be shown that the deficiency has been wholly or partially due to the very nature of industrial minerals themselves it is not an "economic factor peculiar to the industrial minerals" but a temporary characteristic peculiar to the industry. In the writer's opinion, the authors have not demonstrated that the former relationship exists. Similarly, item 9, the "influence of technologic developments," is also not inherently peculiar to industrial minerals. Nowhere in the discussion of this item do the authors mention anything that is not equally applicable to the field of metallic minerals. This is not meant to imply that the specific technologic developments which the authors list are of equal significance in both fields. It does mean that such a statement as, "technological advances together with new consuming areas to provide markets make deposits commercially valuable which once were of no interest" cannot be considered as an argument that technological developments have significance in the field of industrial minerals alone. In considering the problem of stockpiling, the authors note that the stockpiling of nonstrategic materials might be desirable if future wartime needs could exceed domestic production capacity, but dismiss this as hardly adequate to justify such stockpiling. The problem, however, can be stated in broader economic terms, i.e., the real costs (as distinguished from the money costs) of prewar versus wartime production. In other words, it might well be that the labor and capital required to produce a given amount of a certain mineral raw material could be used more efficiently in another industry. In such a case it is obviously advantageous to stockpile the material in prewar times rather than forego the benefits of additional production in another line of endeavor during wartime under conditions which demand the optimum use of all resources, including manpower and capital. To the writer's knowl-

Jan 1, 1951

By Raymond B. Ladoo, C. A. Stokes

Bruce C. Netschert—It is unfortunate that the authors of this paper consider it necessary to begin with an expression of concern over possible false interpretations of the word "economics." In their preoccupation with the definition of economics, they have adopted a definition of mineral economics which is, to say the least, unduly narrow. Just as the broad field of economics is not confined to a study of the profitability of business concerns, but includes the problems of production, distribution, and consumption as they pertain to society as a whole; so an inclusive definition of mineral economics should not be confined to the determination of the profitability of mineral-producing and processing enterprises, but should include the significance of the unique characteristics of mineral resources as raw materials for the use of society. Such features as the exhaustibility and localized, haphazard occurrence of deposits, the existence of a secondary (scrap) supply, and the increasing cost of operation during the life of a mining enterprise are obviously factors which concern those businesses which are producing mineral raw materials, since they partially determine the profitability of such enterprises. They are also of concern to society as a whole, however, as characteristics of one of the basic elements of the economic system. In the last analysis, the contribution which mineral economics can make as a means of determining and guiding social policy with respect to the production and utilization of mineral resources is perhaps more important than its use as a basis for determining the cost accounting procedure of individual firms. The list of "economic factors peculiar to the industrial minerals" which the authors present is in reality an application of such a broad definition of mineral economics. An inconsistency appears, however, in the inclusion of items 8 and 9 in the list. As this writer sees it, the point in question is: What influences do the characteristics of industrial minerals have on the characteristics and operating procedures of industrial mineral enterprises which are not present in the metallic mineral field? In answering this question with items 8 and 9, Messrs. Ladoo and Stokes do not recognize that there are two distinct types of differences between the two fields of enterprise. There are, on the one hand, important basic economic distinctions due to inherent economic characteristics of industrial minerals which do not pertain to metallic minerals. On the other hand are those characteristics of the industrial mineral enterprises peculiar to them alone, but which are superficial and temporary, in that they may be changed or eliminated at the discretion of the managers of those enterprises. The lack of adequate research and development in industrial mineral production, processing, and marketing (item 8) is not due to an inherent characteristic of industrial minerals. It is true that one may perhaps describe the field of industrial mineral enterprise in terms of such a deficiency, just as one could, until recently, point to a similar lack of research and development in the coal industry; but unless it can be shown that the deficiency has been wholly or partially due to the very nature of industrial minerals themselves it is not an "economic factor peculiar to the industrial minerals" but a temporary characteristic peculiar to the industry. In the writer's opinion, the authors have not demonstrated that the former relationship exists. Similarly, item 9, the "influence of technologic developments," is also not inherently peculiar to industrial minerals. Nowhere in the discussion of this item do the authors mention anything that is not equally applicable to the field of metallic minerals. This is not meant to imply that the specific technologic developments which the authors list are of equal significance in both fields. It does mean that such a statement as, "technological advances together with new consuming areas to provide markets make deposits commercially valuable which once were of no interest" cannot be considered as an argument that technological developments have significance in the field of industrial minerals alone. In considering the problem of stockpiling, the authors note that the stockpiling of nonstrategic materials might be desirable if future wartime needs could exceed domestic production capacity, but dismiss this as hardly adequate to justify such stockpiling. The problem, however, can be stated in broader economic terms, i.e., the real costs (as distinguished from the money costs) of prewar versus wartime production. In other words, it might well be that the labor and capital required to produce a given amount of a certain mineral raw material could be used more efficiently in another industry. In such a case it is obviously advantageous to stockpile the material in prewar times rather than forego the benefits of additional production in another line of endeavor during wartime under conditions which demand the optimum use of all resources, including manpower and capital. To the writer's knowl-

Jan 1, 1951

By Richard A. Boulay

The effects of capital, operating and debt cost variations on project performance criteria are examined using a theoretical model and an actual case history. On an after-tax basis, financial measurements are found to be most sensitive to operating cost changes, somewhat sensitive to reasonable changes in capital costs and relatively insensitive to interest rate fluctuations.

Jan 1, 1985

By Walter M. Small

Austria produced approximately 800 cisterns of 10,000 kg. each (56,000 bbls.) of crude oil of a 0.9428 sp. gr. during 1935. Of this Gosting II well near Zistersdorf, owned by the Erdolproduktions-Gesellschaft m.b.H., produced 86 per cent of the total, averaging a little over 1.8 cisterns, or about 125 bbl., per day. Gosting IVa of the same company was put in production early in December and produced a total of about 70 cisterns (4900 bbl.). Gosting IV was a failure, but a directional hole drilled from the same derrick produced Gosting IVa. Gosting I, a well owned jointly by the company above mentioned and the Raky-Danubia, was deepened late in the year and made about 2800 bbl. of oil at the rate of 70 bbl. per day. Completions during the year were as follows: In the Gosting pool, Gosting IV and IVa, drilled with rotary tools, the latter producing from Sarmat at a depth of 934 meters (3065 ft.); Kronberg I, of European Gas & Electric Co. with cable tools in Flysch at a depth of 566 m. as a dry hole; in the Oberlaa gas pool, one cable-tool well of the same company at a depth of 266 m. as a dry hole and one Fauck-Haiek system well of the Vacuum Oil Co. at a depth of 483 m. as a dry hole; one rotary hole of the European Gas & Electric Co. at Enzersdorf a/d. Fischa plugged and abandoned in Sarmat after a blow out and gas eruption at a depth of 699.5 meters. The status of drilling wells at close of the year is as follows: In the Gosting pool, Erdol Bohr- und Verwertungs G.m.b.H., north of the producing area, was drilling with rotary at 990 m., Raky-Danubia is rigged up to deepen the old Windisch-Baumgarten hole, Rohoel-Gewin-nungs A.G. (Vacuum-Shell combination) rigging up rotary south of the production, and Steinberg-Naphta G.m.b.H. (Musil) was deepened with light rotary to 830 m.; at Enzersdorf a/d. Fischa, the European Gas & Electric Co. E-2 rotary-drilled hole stood at 1533 m. in Miocene waiting

Jan 1, 1936