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By R. W. Woodward, G. K. Burgess

minum bronze. Nearly all copper-base alloys are improved by rolling processes, but the copper-aluminum alloys seem to possess equally good properties when cast or rolled; this is a remarkable metallurgical fact. Another important property of these copper-aluminum alloys is their resistance to alternating stress. Many tests indicate that their resistance is greater in this respect than that of some steels, and I have seen instances when cast aluminum-bronze bolts have outlived five steel bolts in foundation work subject to severe shocks. I mention these various instances to indicate that work originally started as research for substitution of one material for another frequently develops 212 article which has properties not possessed by the original metal or alloy. I have dwelt particularly on the aluminum bronzes because recently I have done more special work on them than on other alloys, but I believe that the use of aluminum itself, in many combinations of metals, is a very important subject for investigation. Undoubtedly, after the war, the cost of aluminum will be reduced from its present price, and considering its low specific gravity it offers a very interesting and important field for research in the non-ferrous business. Naturally, if combinations containing aluminum can be developed in view of a probably increasing supply of metal, the cost will be reduced. This will benefit the industry generally and will immediately conserve tin. Bronzes, Bearing Metals, and Solders G. K. Burgess* and R. W. Woodward,† Washington, D. C.— From a metallurgical standpoint, there are several ways in which a reduction of the tin consumed in commercial non-ferrous and white-metal alloys can be effected. First, a reduction of the tin content of the alloy; second, substitution of part or all of the tin content by some other metal; third, a substitution of a different type of alloy, which in some cases also involves a change in mechanical design. The Bureau of Standards has been studying these methods of conservation for tin alloys, particularly in regard to babbitts and bearing metals, bronzes, and solders. Much of the information sewed by the Bureau was obtained from answers to questionnaires sent to manufacturers and users of these materials, so that, in general, any of the following suggestions or recommendations can be considered as being practical and as having already been thoroughly tried. Bearing Metals There is no question that the tin content of nearly all bearing metals can be reduced to some extent, and in some cases actually eliminated

Jan 1, 1919

By Benjamin Gi ldersleeve

Uniquely colored, thin-bedded quartzite is quarried between Crossville and Crab Orchard in Cumberland County, Tenn. It is produced in all sizes up to the limits of transportation from beds usually ranging in thickness from less than 1/2 in. to 6 in. The stone is very resistant to wear and weathering and is marketed throughout the country for many different purposes in exterior and interior construction. The annual production exceeds 36,000 tons, valued at nearly $1,000,000.

Jan 1, 1950

By A. H. Bell

Continued low prices and restricted markets for crude oil discouraged drilling activity in Illinois oil fields during 1933. Only 36 wells were completed in the state, the smallest number since 1904, and of these the majority were scattered wildcat wells, only 10 having been drilled in producing fields (Table 2). Production was curtailed approximately 40 per cent for the first half of the year. During July, August, and the early part of September there was no restriction on production. On Sept. 8, under the "code of fair competition for the petroleum industry," the quota of allowable production for Illinois was fixed at 12,000 bbl. per day. The state's production in 1933 was 9 per cent less than in 1932. What it would have been had there been no curtailment of production and if economic conditions had permitted a normal amount of cleaning out and repairs to wells, it is not possible to estimate, but it would no doubt have been considerably more than the actual figure. No new pools or new producing horizons were discovered in 1933, but the deepening of a Robinson sand well in Crawford County to the McClosky "sand" horizon (St. Genevieve limestone of the Lower Mississippian) resulted in a production of 3 bbl. per day (Fred Patchel, Savilla Shipman No. 5, NE. 1/4, SW. 1/4, sec. 26, T.6N., R.l3W., deepened from 1122 to 1388 ft., to be tested to the McClosky horizon, and, owing to the rapid variations in porosity within short distances, as shown in the Lawrence County field to the south, one test may not be considered as proving or condemning any large area. The average price of Illinois crude oil in 1933, calculated from the posted prices as published in the Oil and Gas Journal and Oil Weekly, was $0.862 per barrel. This compares with a calculated average price of $1.032 in 1932 and 0.852 in 1931. The total value of Illinois crude oil produced in 1933 obtained by multiplying the average price (0.862) by the total production (4,227,000 bbl.) was $3,643,674. Of the 26 wildcat wells drilled in 1933, only one was drilled on known favorable structure. This was the Walmar Oil Company's William Pepple well No. 1, sec. 12, T.4N., R.12W., Hancock County, which tested

Jan 1, 1934

By Colin J. Dixon

The full realization of the potential of computers in geological in- formation system demands new approaches to the machine representation of information. At the same time, the feasibility of such a system, particularly in commercial field, demands greater freedom in input preparation and a degree of standardization in the arrangement of subject matter system. The paper describes some of the basic notions of project "GEOSEMANTICA 70". The aim of the project is to devise means of storing real geological informations in a machine rather than the representation of the information in human language form. This is seen as the only long-term solution to the problems of the complex vocabulary of geology and the complex syntax of geological description. Effectively, a machine language is being defined, consisting of a set of symbols and a date structure for representation of geological and related information. Beyond this, is the definition of a set of rules allowing the use of constrained text as an input/output medium. The investigation is oriented primarily to the representation and handling of information about mineral deposits and the associated geographic, economic and engineering information.

Jan 1, 1969

By JOHN W., E. C. SARCENT

The South Texas area discussed herein represents districts 2 and 4 of the Texas Railroad Commission. It extends from Jackson, Lavaca and Gonzales Counties on the northeast to the Rio Grande River, and comprises a total of 26 counties.

Jan 1, 1946

By A. S. Bower

Any process which has for its object the preservation of iron and steel from rust, and which will make these metals more applicable than they now are to the requirements of mankind, will be sure to meet with attention from members of this association, and from all those who are either engaged in the extraction of the ore, its reduction to metal, or the subsequent application of the metal itself. It is, perhaps, not too much to say that when iron and steel are rendered secure against corrosion and decay, they will be used to an indefinitely greater extent than they now are. The whole realm of science has, therefore, been explored in the attempt to discover some method by which the formed article may be preserved, leaving its strength undiminished by the destructive action of rust. Paints, oils, varnishes, glazes, enamels, galvanizing, electro-depositing and what is called "inoxidizing" are among the many systems now in vogue to effect the preservation of iron and steel from the corrosive action of air and water. The object of this paper is to show what may he done in protecting iron and steel from rust by forming upon their surfaces a film of magnetic oxide by an inexpensive process. It is no new thing to be told that magnetic oxide of iron is unaffected by exposure to the atmosphere or to salt water for any length of time. The black sand of Taranaki, in New Zealand, is a sufficiently good example of this. Dr. Percy has pointed out that the reason why Russian sheet iron is less affected by exposure than ordinary sheet iron is because of a coating of magnetic oxide; but this was not known

Jan 1, 1883

Jan 1, 1925

By William Kent

Mr. ASHBURNER's paper on the Classification and Composition of Pennsylvania Anthracites, read at this meeting, well shows the need of new and accurate determinations of the heating value of these coals. A similar need exists for the determination of the value of bituminous coals, since the variation in quality of the latter is greater than the variation in anthracites. The recent extensive use of liquid and gaseous fuels, " patent" fuels, tan-bark, and other refuse fuels, also makes a necessity fix some correct method of determining the relative values of each of these fuels. Mr. Ashburner has recommended that tests of coals should be undertaken by the Second Geological Survey of Pennsylvania, and Professor Dewey, as stated in Mr. Ashbnrner's paper, has suggested a plan for tests of American coals, by the Smithsonian Institution, for which an appropriation by Congress will be asked. It is to be hoped that if any extensive series of tests of coals is carried on under either Government or State auspices, the erroneous methods of test which were followed by Professor Johnson in 1842, and by Quartermaster-General Meigs in 1882, will not be adopted.* The first requisite in determining the heating-power of a fuel is proper apparatus, such as has not been used in any of the tests of American coals yet reported. In the hope that more accurate means may be used in future tests, the writer desires to call attention to an apparatus which he has designed for the purpose. Not having had opportunity for making a trial of it, nor even of having it criticised by others, he does not offer it as the best possible apparatus; but if it contains any points of value, and leads to the design of still more suitable devices by others, the object of the presentation of this paper will be accomplished. The tests by Professor Johnson and General Meigs were made by evaporating water into steam in ordinary steam-boilers. A steamboiler of ordinary construction is not a good apparatus for determining the heating power of a fuel, for the following reasons:

Jan 1, 1886

Development of Technical Education for the Petroleum, Industry. By H C GEORGE (Min & Met, June, 260 2000 words) With a growth of 718 per cent in the petroleum industry from 1901 to 1931, there was a corresponding increase in the demand for technically trained men in the industry This was first met by increasing numbers of college graduates from the old established courses m chemistry, geology and engineering However, there began to be felt a need for scientists and engineers specially trained for the petroleum industry In 1912 the University of Pittsburgh established the first department in any university in the world that offered major work in petroleum engineering and petroleum geology In Europe, the first major work in petroleum engineering was offered in England in 1913 at the University of Birmingham The University of California and Stanford University offered major work in petroleum engineering in 1915 Since that time at least 10 other American universities and colleges have offered major work and at least 12 others are now offering some courses dealing with petroleum, and the petroleum industry.

Jan 1, 1935

By Cornelius F. Kelley

AT the Annual Meeting of the A.1.M.E. last February, Cornelius F. Kelley, chairman of the Anaconda Copper Mining Co., was presented with the Charles F. Rand Memorial Medal for "conspicuous success as administrative head of great enter- prises engaged in the production of nonferrous metals at home and abroad; for inspiring leadership of an organization that has trained able engineers for service wherever ores are mined and metals are recovered; and for enhancing the prestige of metal mining in the financial and industrial world." Mr. Kelley's acceptance speech follows: I am not unmindful of the fact that the distinction is not to be considered a personal one, but that by the language of the citation itself it is rather a recognition of the service that has been performed by the many trained men of an industrial organization that in the arts of mining and metallurgy and in the fabrication of metal products has performed a distinct service to the industry and to mankind. In that spirit, the award is accepted, and on behalf of the organization I represent and myself, I thank you and assure you that the honor is deeply appreciated.

Jan 1, 1944

By John H. Schissler

INTRODUCTION AND SUMMARY Complex copper-lead-zinc ore is mined from underground workings high in the Western Cordillera of the Andes mountains about 100 km in a stralght line north of the city of Arequipa in southern Peru. The Madrigal mine is situated in a steep-walled canyon into which the six operating levels "daylight". Production is from cut-and-fill stopes currently producing approximately 740 dry metric tons per day. The Santa Rosa vein, the most important producer in the district, outcrops for a distance of about 4 km, bearing N 75º W and dipping about 70º NE. In places the vein splits into two or three branches; widths of each vary between 1 and 4 m and total mineralized widths of up to over 8 m occur. Principal ore minerals are chalcopyrite, galena and sphalerite. Ore reserve grades for the Madrigal mine average about 1.45% Cu, 2.6% Pb and 5.0% Zn, 2.9 ozAg per metric ton. [Compania] Minera del Madrigal is a California limited partnership; the general partner and operator is [Compania] Madrigal, a wholly-owned subsidiary of Homestake Mining Company. HISTORY Shallow workings found on the Santa Rosa vein were probably made by the Spaniards during colonial times in their search for

Jan 1, 1977

By Evan Just

Attempting to analyze a 25-year forecast after less than a third of the time has elapsed may seem premature. The President's Materials Policy Com- mission's report necessarily painted with a broad brush and made no claim for pinpoint accuracy in its predictions. More importantly for present purposes, it made no attempt to predict the detailed courses of production and consumption during the period forecasted. Several statistical highs and lows may very well lie between now and 1957, so comparing recent figures with points taken from the report on a straight-line basis would be illogical. Moreover, the report assumed that the general trend of consumption-domestic and foreign-would be upward. Contrarily, domestic figures were lower in 1957 than in 1950. Therefore, to project curves from 1950 through 1957 leads to conclusions that are probably false. Many in the industry would feel more uncertain about forecasting 1975 domestic conditions now than they would have been in 1950, even though nearly a third of the 25 years has elapsed. In making comparisons, several statistical problems are encountered. The Paley report figures for 1950 were estimated in several cases and corrected figures vary as much as 10 pct. For example, the report placed 1950 lead consumption at 800,000 tons, whereas actual consumption was 885,000 tons. Obviously, in comparing more recent figures with the report's projections, adjustments must be made for positions taken in error from the start. Over the long pull, such discrepancies will probably be insignificant, but they must be noted in comparing short-term changes.

Jan 10, 1959

By G. M. Crosby

Seven mines with important production records in the Coeur d'Alene lie adjacent to the Gem stocks —the Frisco (Gem), Hercules, Interstate, Rex (Sixteen to One), Success (Granite), Sunset, and Tamarack. Old records are incomplete, but available data given in Table I show these mines have produced 10.550,721 tons of ore containing more than 50 million oz of silver, more than 1.5 billion lb of lead, and about 1 billion lb of zinc (approximately 1.25 million tons of lead and zinc combined). Average ore grade is 4.8 oz of silver per ton, 7.2 pct Pb, and 4.6 pct Zn. This impressive production represents about 12 pct of the District's yield. At present metal prices, with modern beneficiation, the gross value would be more than $400 million. THE GEM STOCKS The Gem stocks, considered to be outliers of the Idaho batholith of Late Cretaceous age, are located in the northern half of the Mullan quadrangle, and extend from the town of Gem, Idaho, along a strike of N30°E for a distance of approximately five miles. They occur as two major masses of monzonitic rocks commonly referred to as the North stock, which covers an area of 1.1 sq miles, and the South stock, which covers 2.6 sq miles. The areal pattern is roughly club-shaped, the North stock representing the handle and the South stock the head of the club. Two and a half miles west and five miles northeast are two groups of smaller stocks, isolated from the main masses but of the same general rock type. This discussion is limited for the most part to the North and South stocks. At the north end, where the intrusion is about 3200 ft wide, the walls are about parallel and dip very steeply west. At the south end, where the mass is about 7000 ft wide at surface, the walls dip away from each other at moderately steep angles. An aeromagnetic survey' detects and outlines with surprising accuracy the two main stocks. as illustrated on the magnetic contour map (Fig. 2). Of particular interest is the location and shape of the magnetic anomaly representing the South stock. The anomaly is centered over the south end of the outcrop, and a westerly extension joins it with a smaller anomaly over the Dago Peak stocks. The latter anomaly, likewise, is located over the south end of the isolated stocks. This pattern suggests the intrusion has greater extent at depth to the south and west. Though correlation between the Dago Peak stocks and the larger masses is suggested, the controversial aspects of the Dobson Pass fault, which separates the two areas, casts doubt on a correlation. Topographically the monzonite stocks are ignored by the drainage pattern indicating these rocks, and the invaded rocks of the Lower Belt Series react similarly to erosion. The drainage patterns of Nine Mile and Canyon creeks cut indiscriminately across the monzonite-Belt contact, resulting in both valleys and ridges in the southern end of the intrusion. Nine Mile Creek traverses diagonally the entire five-mile length of the stocks. The monzonite rocks of the intrusion are referred to locally as granite, but granite is rare and the rocks comprise a wide variety of types. Their characteristics, described in detail by F. L. Ransome and F. C. Calkins,' are summarized by P. J. Shenon.' The principal rock type is coarse-grained, light gray, porphoritic monzonite containing black crystals of hornblende. Pyroxene, epidote, and titanite

Jan 1, 1960

By George E. Beavers

Under the title used for this paper, the converter practice of the Tennessee Copper Co. is described in the TRansactions of the Institute.l That article contains the following statement: "The limit in capacity of the Peirce-Smith converter in terms of concentrate has not been reached but approximately as high as one ton of concentrate has been handled for each ton of liquid matte charged and good working conditions have been maintained." It is not the intention of the writer to review the conditions leading up to the introduction of a Peirce-Smith converter at Copperhill, but, instead, to offer later data to show how satisfactory the installation has been. Converter Campaign, June 15, 1930 to August 23, 1931 Blowing time (converter days)............... 349.90 Number of blows........................... 427.00 Tons matte charged........................ 38,335.00 Copper assay of matte, per cent.............. 13.67 Tons blister copper made.................... 9,246.00 Time to blow one ton of copper, minutes...... 54.50 Air used per minute, cu. ft................... 12,500.00 Blast pressure, lb........................... 12.80 Air per ton copper, cu. ft.................... 681,330.00 Air per ton iron, cu. ft....................... 199,040.00 Tons flux used............................. 11,845.00 Tons flux per ton matte..................... 0.31 Tons flux per ton copper.................... 1.28 Tons flux per ton iron....................... 0.37 Tons concentrate treated.................... 28,960.00 Copper assay of concentrate, per cent......... 17.13 Tons concentrate per ton matte.............. 0.76 Tons material charged per converter day...... 235.70

Jan 1, 1934

By B. Fernow

(Read at the Philadelphia Meeting, February, 1878.) THE question of preserving the forests in this country is an important one, not only to trades using wood but to the whole nation, and though agitated for many years has not received that general consideration which its broad bearing demands. Those who are interested in and working for reform in the treatment of American forests are looking to the government for help, suggesting the creation of a commission to study the conditions of forests at home and abroad, and hope that a sound system of managing the woodlands will be thereby inaugurated. This reform will cost time and money, all the more because the government can bring to bear upon private owners hardly any power but that of good example and encouragement. There is, however, another aspect of the question to which I wish to draw your attention, namely; the more economical use of the valuable material which our forests offer, a more careful and exhaustive utilization of its constituents in all cases where wood or its products are applied. The wasteful consumption of wood in the United States is in every way so enormous as to justify the statement that by merely adopting an economical husbandry in this particular the destruction of forests might be delayed for many years, while the neglect of this imperatively needed and immediately practicable reform deprives legislative remedies of much of their value. In this regard I wish to draw the attention of metallurgists, especially those who are interested in the manufacture of charcoal iron, to a more economical and profitable use of wood in iron manufacture. For thousands of years of human history wood was the main, nay, the only material used for fuel. Mineral coal came into use only in the fourteenth century, and it is only recently that it has largely displaced its less carbonaceous predecessor as fuel. The art of concentrating carbon in the form of charcoal for easier transportation and readier use in distant places was, according to Pliny, known to the ancients long before Christ, and was practiced in all countries, especially in connection with the iron- manufacture.

Jan 1, 1878

By AIME AIME

Further details of the 97th meeting of the Institute, at Spokane, have been sent to members in the Special Circular of May 8, 1909, and for convenience a summary of the additional information is given later in this announcement. In spite of the present small number who have joined the party, final arrangements have been made to complete the itinerary given in the circular. It is greatly to be desired, both in behalf of the Institute and in recognition of the special courtesies to be extended on the trip, that the party be made larger. Exceptional facilities to visit the many mines and smelters have been freely provided; and members are requested to make all reasonable effort to attend the meeting at Spokane and participate in the excursions. . For those who cannot take the entire trip, it may be possible to provide special Pullman accommodations after leaving the Yellowstone Park. In order to make the necessary arrangements, however, the names of members and guests contemplating this partial trip should be sent at once to Mr. Theodore Dwight, .39 West 39th St., New York, N. Y. A special train of Pullman cars will leave Chicago September 16. This train will be side-tracked at all places visited, and the sleepers will be available for lodging and the dining-car for meals (luring the entire trip, except while taking the tour through the Yellowstone Park. The general cost of the trip per member will be $300, which includes transportation, berth, and meals for the entire trip from Chicago back to Chicago, almost 6,000 miles, and the tour through Yellowstone Park, occupying in all about 30 days. Special accommodations on the train will be furnished at the following rates

Aug 1, 1909

By Bruce A. Kennedy

The long awaited new Mining Engineering Handbook is taking shape under the leadership of A. B. Cummins, Chairman of the Editorial Advisory Board for the SME Mining Engineering Handbook, and Ivan Given, Editor-in-Chief. The last Mining Engineers' Handbook, the Peele edition, published by John Wiley and Sons, was last revised in 1941. This book was and still is a virtual mine of information although a good deal of its content, especially the cost tables, is becoming rather antiquated. The new one-volume work will contain approximately 1600 pages and be divided into 36 sections. A brief summary of the sections follows: The Place and Contribution of Mining, Mining Costs: Mining Geology-Minerals and Mineral Deposits; Minerals Discovery-Prospecting and Exploration Methods and Equipment; Site Exploration and Selection; Minerals-Mining Design; Soil and Rock Mechanics; Design of Excavations; Opening and Development: Underground Mining Systems and Equipment; Roof and Ground Control; Groundwater and Groundwater Control: Open-Pit and Strip-Mining Systems and Equipment: Underwater and Ocean Mining; Fragmentation-Cutting, Drilling, Blasting; Underground Haulage: Hoists and Hoisting Systems; Surface Haulage, Hoisting. Lowering Pumping and Drainage; Ventilation: Mine Surveying; Ore and Coal Processing; Mill Design; Industrial Minerals-Specifications and Markets: Power; Maintenance plant and Equipment; Supply Service; Health and Safety; Reclamation and Surface Restoration: Administration and Management; Operations Optimization (Systems Engineering) : Mint, Costs and Control: Mine Examination. Valuation. Reports; Engineering Terms: and Consulting Engineering.

Jan 1, 1970

By AIME AIME

The XCVIIth meeting of the Institute for the reading and discussion of papers will be held at Spokane, Wash., beginning Monday, Sept. 27, 1909, as already announced in Special Circulars of May 8 and Aug. 14, 1909, and in the Bulletins for June, July, and August. The meeting will be preceded by a tour through Yellow stone Park and visits to Butte and Anaconda, and will be followed by visits to the Coeur d'Alene district, to the Alaska-Yukon-Pacific Exposition at Seattle, to the mining- and smelting-plants near Salt Lake, and to the iron- and lead- and zinc-plants at Pueblo. The special train for the party' will leave Chicago, September 16, and return about October 12. Details of the itinerary are given later in this announcement. The Secretary of the Spokane Local Committee is Lyndon K. Armstrong, 615 Hyde Block, Spokane, Wash., to whom should be addressed all inquiries concerning local matters. The control of the papers and proceedings will remain in charge of the Institute office, as usual. It is greatly to be desired, both in behalf of the Institute and in recognition of the many courtesies to be extended on the trip, that the excursion party be made larger. Exceptional facilities to visit the many mines and smelters have been freely provided; and members are requested to make all reasonable effort to attend the meeting at Spokane and participate in the excursions. For those who cannot join in the entire trip, it may be possible to provide special Pullman accommodations after leaving Yellowstone Park. In order to make the necessary arrangement, however, the names of members and guests contemplating this partial trip should be sent at once to Theodore Dwight, 29 West 39th Street, New York City. The general cost of the trip per member will be $300, which includes transportation, berth, and meals for the entire trip from

Sep 1, 1909

By L. Kaufman

An equation is derived relating AF a", the difference in free energy between austenite and martensite, to temperature and composition in the iron-chrmnium and iron-chromium -nickel systems. This equation is used to calculate at M,for low-carbon stainless steels. A method for utilizing the energetic equations to calculate M, in stainless steels is suggested. In addition, an explanation is given for the anomalous effect of chromium in forming a y loop concurrent with the lowering of M, in iron-base alloys. It has been demonstrated that the effect of alloying elements on the Ms temperature is strongly dependent upon the influence of the alloying element on the thermodynamic properties of the y and a phases. Notwithstanding the fact that alloying elements affect the Ms temperature by changing the lattice parameters, elastic constants, and inter-facial energies of the a and y phases, their primary role is a thermodynamic one. Thermodynamic analyses have been presented for the iron-carbon'-4 and iron-nickele systems in which equations are derived for Fa and FY, the free energies of the b.c.c. (or b.c.t.) and f.c.c. phases. These equations, which can be obtained with the aid of the equilibrium diagrams, can be used to help predict the Ms vs composition curves. This paper deals with a calculation of the thermodynamic properties necessary to compute AFffLY for iron-chromium alloys. In view of the lack of direct information concerning the activity of chromium in the a and y phases of iron, the regular solution approximationa,g was utilized to bridge the gap. After the necessary equations were derived for the iron-chromium system they were used to calculate AFff— Y for stainless steels by combining them with the previous results obtained for iron-nickel alloys. The results of these calculations offer a means of rationalizing the anomalous behavior of chromium in iron-base alloys. The latter depends on the regular solution approximation in contrast to the explanation offered by zener , which is based upon the "magnetic specific heat effect." THERMODYNAMICS OF THE IRON-CHROMIUM SYSTEM If y represents the atomic fraction of chromium in an iron-chromium alloy, then the free energy of the b.c.c. phase Fa, the f.c.c. phase FY, and the difference in free energy between the f.c.c. and b.c.c. phases of the same composition are given through [3] and Fmy represent the free energies of mixing of the a and y phases; while @era -' and uFea 4Y represent the difference in free energy between f.c.c. and b.c.c. chromium and iron respectively. The values of AEFe0ff4Y in the temperature range between 0" and 900K ( .

Jan 1, 1960

By Joseph E. Pogue

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

Jan 1, 1946