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By M. Kaitz

A continuing discussion in both the petroleum engineering and economic literature is directed to the difficulties encountered in the use of discounted cash flow rate of return (DCF) as a measure of investment worth. Although useful in most Instances, DCF has been criticized because it is time-consuming in its trial-and-error solution, theoretically invalid, not adaptable to cash flow streams yielding multiple return solutions and not entirely reliable in selecting between mutually exclusive investments. The theoretical invalidity of DCF stems from the reinvestment assumption implicit in the calculation that earnings are reinvested at the DCF rate. The emerging consensus of the economic literature is that the net present value or the present worth of the net cash flow stream (discounting at the average opportunity or cost of capital rate) is more correct and reliable. Other criteria proposed have been ratios of net present value divided by initial investment or by present value of all investments in a project. All of these criteria are simple to determine and explicitly assume a reinvestment rate for [he income generated by a project. This paper develops and discusses a theoretically valid profitability criterion which is simple to compute and retains the appeal of a percent return on investment. It is called "percentage gain on investment" or PGI. It measures the gain an investment is expected to realize over like capital invested in the average opportunity and explicitly considers reinvestment potential. Why add another Concept to the large array of investment criteria now available, any one of which, or perhaps a combination of several, appears to embrace the form's (or individuals) objectives? The answer is that not one of the existing criteria provides both a readily comprehensible and theoretically valid measure of risk coverage that has general application. The proposed PGI does fulfill these requirements. INTRODUCTION An ancient expression warns that "one must yield to the times" — there are better ways of doing things. A review of the petroleum engineering and economic literature on one topic alone, measurement of investment worth, certainly is witness to this truth. In use for a number of years, the DCF has recently received attention, directed mainly to its theoretical invalidity. Several alternatives to DCF have been proposed to provide a valid, simply determined criterion to describe investment worth and to overcome the criticisms previously mentioned. This paper introduces another method called percentage gain on investment (PGI) and is proposed as but one of several yardsticks that should be used in making investment decisions. MEASURES OF INVESTMENT WORTH This paper will consider only those criteria which give weight to the time pattern of future earnings. These criteria are usually compared with an average opportunity rate or cost of capital of the firm to judge the relative worth of the investment. For purposes of demonstration, a 9 percent average opportunity rate will be used throughout this paper. Implicit in the DCF calculation is the assumption that earnings are reinvested at the DCF rate. Some argue, though, that there is no reinvestment assumption,' that the DCF rate is simply that maximum rate of interest one can pay on the investment over the life of the project and break even. The determination of DCF is accomplished by discounting the net cash flow stream at that rate (DCF) which will yield zero. The question is: why should reinvestment potential be explicitly considered in calculating return on investment or other criteria measuring economic worth? Perhaps the answer lies in consistent or equal treatment of future cash flow. It appears entirely illogical to give different present worth value to $1 received, say, 10 years from now, which is the circumstance resulting in comparing projects with different DCF returns. In fact, $1 received in 10 years has the same value regardless of which project generated the income. DCF return thus favors investment projects which are expected to provide early income as compared to those providing long-term income. Not surprisingly, the controversy on reinvestment assumption is an old one. Hoskold' discussed this same problem in 1877. He considered the future income from mineral properties as an annuity or a series of fixed future payments. (As will be demonstrated, his equation can be modified for variable income.) Prior to Hoskold, the value or what one could pay for the mine, was determined with the use of standard, single-interest tables. Here is what Hoskold said with regard to these tables. "This table, and others of its kind, to be found in most works on annuities, is constructed correctly according to

By W. W. Stephens, W. J. Kroll, H. P. Holmes

THE only two methods for producing commercial quantities of malleable zirconium, up to now, have been using magnesium reduction of the anhydrous chloride under a neutral gas, and using purification of raw zirconium by the iodide dissociation method on a hot filament. The purity of the metal obtained by the latter process is about the same as that resulting from the chloride reduction, with the exception of the oxygen content, which may be about 0.05 pct lower in the iodide metal. Even traces of oxygen have a strong hardening effect on zirconium. Since, in the iodide process, the impurities, Si, Al, Fe, Ni, and Mg in the raw zirconium used, are carried over, it would appear uneconomical to use this method of refining solely to eliminate the traces of oxygen, unless very soft metal is desired. One important step to improve the iodide method, namely, dissociating pure iodide made from carbide and recycling the iodine, which would change this refining process into a method for extracting zirconium from the ore, has not yet been made. The Bureau of Mines, by using the chloride reduction, wanted to produce quantities of a reasonably pure and malleable metal at low cost for large-scale industrial use. This aim has been achieved, and a pilot plant permitting production of 600 lb of malleable zirconium per week will be described (fig. 1). Briefly, the Bureau of Mines process consists of reducing purified gaseous anhydrous zirconium chloride with fused magnesium under a noble-gas atmosphere. The reaction product, magnesium chloride, and any excess magnesium metal present are removed from the sponge zirconium in the next step by fusion and evaporation in a good vacuum at about 925°C. In this process, care is taken to keep air out of contact with the hot metal, which otherwise would contaminate the product with oxygen and nitrogen. Both these impurities embrittle zirconium even when present in an amount as low as 0.1 pct. A number of previous reports1-3 describe the method and the various improvements that finally led to a workable process. The major steps made were the production of large quantities of carbide, which is the raw material for producing the chloride, its chlorination with reasonable efficiencies, and the elimination of iron trichloride contained in the raw chloride, as well as that of the zirconium oxide which is always present in this product. The physical nature of the anhydrous chloride, which sublimes at 331°C at atmospheric pressure and melts at 420°C under a pressure of 25 atm, made it necessary to provide a special safety device on the purification and reduction vessels in the form of a lead-alloy seal, permitting escape of excess gases if pressure tended to build up. The main difficulties encountered in the reduction and in the following step, salt separation in a vacuum at elevated temperature, were caused by the material from which the reaction pot was constructed—iron. This metal reacts with zirconium at about 940°C with formation of a eutectic. The last step, salt separation by evaporation of the magnesium and magnesium chloride in a vacuum, is quite unconventional and has not been used before on such a scale. It is only due to the improved construction of high-vacuum pumps, especially oil-diffusion pumps, that such a method could be used. The various steps of the Bureau of Mines process, as described in the general outline above, may be summarized as follows: (1) production of the carbide, (2) chlorination of the carbide, (3) purification of the raw chloride, (4) reduction of the pure chloride with fused magnesium, (5) separation of excess magnesium and magnesium chloride in vacuum at elevated temperature, and (6) melting of the sponge obtained. Production of Carbide The arc furnace, described in a previous report,' was improved both to reduce the graphite consumption caused by the burning of the bottom plates and to concentrate the heat in order to obtain better power efficiency. This was achieved by providing the bottom with graphite plates entirely embedded in refractory bricks, the contact with the current being made with three water-cooled copper plugs. Figs. 2 and 3 show the arrangement. The crucible, made

Jan 1, 1951

By Ross E. BROWNE, Ross B. HOFFMANN

IT seems strange that a theory so devoid of value in its application to our practical problems should attract such widespread acclaim. This appears still more remarkable when one considers the foundation on which it is built. The criticism naturally suggested is as follows: First; the special theory of relativity is based on an assumption which is counter to the fundamental conception of relative motion. Second; the theory claims only a slight modification of Newtonian mechanics-a modification so minute that, even if true, it would have no practical value in its application to any visible occurrence here on earth.

Jan 1, 1931

Report of President The important fact of the year 1916 is that on July 25 contracts were executed by which the American Society of Civil Engineers because an additional Founder Society and arranged to make its permanent home in our building. The contracts provide for the construction of three additional stories to the building, the American Society to pay the cost tip to $250,000, this being considered equivalent to what each other Founder Society had contributed, the American Society to participate in the original Carnegie gift and have an equal share in the property with each other Founder society. The construction of the addition to the building is under way, $62,525.04 having been expended thereon in 1916. It has been found that, clue to war conditions and the advanced price of materials, the cost of the addition will be $300,000. The founder societies have been requested to assume the extra $50,000, one quarter each. This work is in charge of a Building Committee consisting of H. H. Barnes, Jr., Chairman, E. G. Spilsbury, Charles Warren Hunt and Charles F. Rand. At the request of the Founder Societies, important alterations were made in the lecture halls on the fifth floor of the building to make the same suitable for social functions of the societies. The cost, $6,642.08, was advanced by the United Engineering Society but is to be paid eventually by the Founders. The Library of the civil Engineers is being merged with the Library of the United Engineering. Society and the other founder societies. At the present time the membership of the four founder societies is 29,000 and of associate societies 23,000, so that a total of 52,000 engineers now have their headquarters in our building. The value of the real estate now owned by this Society is $1,647,171.16. This sum will be increased at the end of 1917 by the amount of the cost of the addition to the building.

Jan 3, 1917

By H. Udin

G. KUCZYNSKI* and B. H. ALEXANDER*—This paper represents a most noteworthy attempt to evaluate experimentally the surface tension of a solid metal. Because of the great importance of such measurements, any proposed method should receive the closest scrutiny before the results can be considered reliable. In regard to the experimental method, we think that the marking of the gauge length by means of tieing knots in the wire may be the cause of some of the spread in the results. Such a knot may be expected to tighten slightly, and thus increase the gauge length, when placed under stress at high temperature. Although this effect would be very small, amounting at most to only a few times the wire diameter. A fairly tight knot in a wire will decrease the wire length by about ten times the wire diameter, thus only a slight tightening of the knot would cause considerable spread in the results. Upon plotting the stress strain curves from the authors' data, the writers found that there was a fairly consistent tendency towards an S-shaped curve, instead of a straight line. Such an effect could be caused by the tightening of the knots. The writers think, however, that the experimental results are fairly reliable, but that there may be other methods of interpreting them depending upon what mechanism is assumed to be responsible for the shrinkage of the wires. The authors have assumed that the stress due to surface tension results in viscous flow. It should be made clear that it has never been demonstrated that viscous flow can occur in metal crystals even at very high temperatures. The experiments of Chalmers13 on tin, which are so frequently quoted as giving evidence of viscous flow at low stresses are by no means satisfactory. In his experiments, Chalmers found that only the initial rate of flow was approximately proportional to stress. He also found that the rate of flow varied markedly with time which, in his experiments, was less than 2 hr. Inasmuch as there is no proof of viscous flow in metals, and the authors have brought forth no conclusive evidence on this point, it may be worth while to investigate other possible mechanisms of material transport which would account for the shrinkage of the wires. The writers wish to point out that in these experiments the shrinkage of the wires can be adequately explained, according to a self diffusion mechanism. Thus, if we assume a concentration gradient for self diffusion which is a function of the radius of curvature of the wires, and assume that diffusion will occur so that the total surface area is decreased, we find the following expression for the self diffusion coefficient: where k = Boltzmann constant r0 = initial radius of the wire T = absolute temperature ? = surface energy 8 = interatomic spacing t = time e = strain at zero applied stress Eq 19 may be used to evaluate the self diffusion coefficient of copper, using the strain measurements obtained by the authors for zero stress as obtained by extrapolating their curves for 5 rail wires. By inserting a reasonable value for the surface energy (1500 ergs per cm2) we find: -66,000 D = 5 X 10e RT [20] The activation energy is of the correct order of magnitude, but the frequency coefficient is much too high, indicating that surface diffusion may be playing an important role. This discrepancy in the action constant is much smaller than the corresponding discrepancy obtained by the authors for the viscosity coefficient. The writers by no means propose that this proves that the shrinkage of the wires is due to self diffusion but we merely wish to point out that there are explanations other than that given by the authors. In this, as in any kinetic phenomena, it is necessary to study the rate of the process before anything can be said about the mechanism. The determination of surface tension given by the authors is based upon an interpretation of the data which embody the concept of viscous flow. The final proof of this concept will be obtained only after the time relationships confirming the authors' Eq 15 have been conclusively established. The rough linearity of the stress strain curves obtained by the authors for experiments run the same length of time should not be considered as proving that viscous flow is occurring. H. UDIN (authors' reply)—All of the test specimens were annealed at 1000°C for an hour or more before preliminary measurements were made. During this anneal the wires recrystallize, and the greatest part of grain growth takes place. Also, the knots sinter at the cross-over points. This does not in itself eliminate the possibility of end errors, although it greatly decreases their probable magnitude. It is still possible that some extension occurs due to creep in shear at the sintered points. If so, this effect would be quite independent of and superimposed on the normal shrinkage or extension of the wire itself. Within the precision of the experimental results, straight lines satisfy the data as well as do any other simple curves. Until data of greater precision are obtained, it is futile to discuss any possible trends away from linearity. The disagreement between Kuczynski and Alexander's Eq 19 and our Eq 18 is one of semantics and mathematics, not mechanism of flow, since Eq 18 is based on the self-diffusion concept of viscous flow. It would be interesting to learn how the mathematics leading to Eq 19 deviates from that of Eyring and of

Jan 1, 1950

THE CHAIRMAN (G. H. CLEVENGER, Stanford University, Cal.).¬I would like to ask Mr. Pyne if he has had any experience inn the use of chromite as refractory under conditions that are highly reducing? I am reminded of an experience I once had with an electric furnace. I imagined that chromite would form a splendid lining, but it soon disappeared; hence it seems probable that, under highly reducing conditions at a high temperature, chromite is a very poor refractory. F. R. PYNE.-In copper smelting the atmosphere is generally neutral, or slightly oxidizing; we do not use highly reducing atmospheres at all, not even in the matting furnace. You can take the chromite brick and treat it as you would an iron ore, obtaining ferro-chrome very readily, from which the copper will separate. We have done this; in fact, at one time we considered installing a small electric furnace for the production of ferro-chrome. FOREST RUTHERFORD, New York, N. Y.-During the time I was general superintendent at the smelter of the Copper Queen Consolidated Mining Co., at Douglas, Ariz., a great many experiments were made on the furnaces and settlers with different kinds of brick, and I agree with Mr. Pyne's statements about chrome brick. Their power to absorb metals is very great, and as they cannot be smelted at any temperatures obtainable in a copper furnace, to get rid of the bats and extract the metal from them is quite a problem. We finally got down to using chrome brick only for lining the settlers, out of which we often got a life of upwards of 2 years, and for lining the blast-furnace bottoms, for the reason that chrome brick can be heated and wet, or wet after being heated, without going to pieces, whereas under these conditions magnesite brick will break down very rapidly. We also used a layer of chrome brick above and below an 18-in. band of magnesite brick put on the slag line of the reverberatories, in order to separate the magnesite from the silica brick, fearing that they would slag each other and let the wall drop. The idea worked, but became unnecessary on account of a change made in the method of feeding the furnaces. Chronic brick will not stand up under pressure so well as a good Grecian or Austrian magnesite brick, on account of the poorer bonding properties of the materials from which the chrome brick is made.

Jan 4, 1918

By R. I. Jaffee, H. R. Ogden, D. J. Maykuth

IN THE past year, Jaffee and Campbell&apos; and Finlay and Snyder2 reported on the mechanical properties of titanium-base alloys, some of which were in the same ranges of composition as are covered in this paper. In this paper, evidence confirming that given by Finlay and Snyder on the effects of carbon, oxygen, and nitrogen on titanium will be presented; and, in addition, new data will be given on the effects of these elements on the flow properties and phase transformation of titanium. Materials and Preparation of Alloys The preparation and general properties of iodide titanium have been adequately described elsewhere.&apos; , As-deposited iodide titanium rod, prepared at Battelle, of Vickers hardness less than 90 was employed as the base metal in the present work. This was the same material as that used by Finlay and Snyder.2 The probable analysis reported by them for standard quality metal holds here also: N 0.005 pct, 0 0.01 pct, C 0.03 pct, Fe <0.04 pct, A1 <0.05 pct, Si <0.03 pct, and Ti 99.85 pct. Carbon was added in the form of flake graphite supplied by the Joseph Dixon Crucible Co. Oxygen was added in the form of c.p. grade TiO, powder, produced by J. T. Baker Chemical Co. Nitrogen was added in Ti3N4 powder, supplied by the Remington Arms Co. Individual ingots weighed 7 or 8 g. Carbon, oxygen, or nitrogen was added by placing the corresponding powder in a capsule made from as-deposited iodide titanium rods and melting the capsule with the balance of the charge. The charge was are-melted with a tungsten electrode on a water-cooled copper hearth under a partial vacuum of very pure argon (99.92 pct minimum). Melting was practically contamination free. Vick-ers hardness increases of less than 10 points were normal for unalloyed iodide titanium control melts. Nitrogen analyses of are-melted iodide titanium showed a nitrogen content of 0.005 pct, about the same as is present in the as-deposited rod. No tungsten pickup was found in a melt of iodide titanium analyzed for tungsten. Weight losses in melting nitrogen-free alloys were very small and varied consistently from nil to 0.015 g (0 to 0.2 pct). This permitted the use of nominal composition for these alloys. Chemical analyses made for carbon, which can be analyzed conveniently by combustion methods, justified this procedure. Where nitrogen was added, considerable splattering took place. Here it was necessary to analyze for nitrogen by the Kjeldahl method. The ingots were hot rolled at 850°C to about 0.045 in. thick. After hot rolling, the strips were descaled by mechanical grinding, and then given a cold reduction of 5 to 10 pct to insure a uniform thickness throughout the length of the specimen. The edge strips and the tensile strips were annealed in a vacuum of 1x10-4 mm Hg pressure for 3 1/2 hr at 850°C and furnace cooled. Methods of Investigation Hardness Measurements: At least five Vickers hardness measurements were taken using a 10-kg load on each sample in the following conditions: (1) top and bottom of each ingot, (2) top and bottom surface of as-rolled and annealed sheet, and (3) on cross-section of annealed sheet and all quenched specimens. Tensile Tests: Tensile tests were conducted on Baldwin-Southwark testing machines having load ranges of 600 or 2000 lb. Tests were made on 1-in. gauge-length specimens, 3 1/4-in. overall length, 1/2 in. wide, 0.040 in. thick, with a reduced section 1 1/4 in. long and 0.250 in. wide. Two SR-4, A-7 strain gauges, one mounted on each side of the specimen, were used to measure the strain over a limited range to determine the modulus of elasticity. After the modulus of elasticity readings had been taken, load vs. strain readings were taken, using only one strain gauge, at increments of 0.0001 in. until the yield points were passed and then at 0.001-in. increments to the limit of the strain-gauge indicator (0.02 in.). Strain readings above 0.02 in. per in. were taken every 0.01 in., using dividers to measure the strain between the 1-in. gauge marks until the maximum load had been reached. Crosshead speed, when using the SR-4 gauges, was 0.005 in. per min, and, when using dividers, 0.01 in. per min. Flow Curves: Flow curves were determined using the true stress-true strain data obtained during the tension test. The usefulness of this type of information has been dealt with very adequately elsewhere by L. R. Jackson,&apos; J. H. Hollomon,6 and many others. Flow curves of true stress vs. true strain could be converted to the more conventional cold-work curve of 0.2 pct offset yield strength vs. percentage of cold reduction by means of the transformation, 1/1 = 1/1-R, where R is the fraction reduction in cold working. Thus, the true strains corresponding to percentage reduction can be calculated, and the 0.2 pct offset yield strengths scaled off the — 6 curve by taking the true stresses corresponding to the values of 6 + 0.002 strain. Heat Treatment: For the transformation studies, the alloys were heat treated in a horizontal-tube furnace using a dried 99.92 pct argon atmosphere, and quenched into water. Essentially no contamination was found after several hours of heat treatment at temperatures up to 1050°C. Metallography: Specimens were prepared in the

Jan 1, 1951

By D. F. Kaufman, H. R. Spedden, A. M. Gaudin

MANY studies of comminution have been made to ascertain the size distribution of the product and to evaluate the work of comminution in the light of the size distributions of the feed and product. Up to now, these studies have been essentially statistical in character, that is, a certain lot of feed was subjected to comminution in some specified way, and the aggregate product was fractionated into sizes, thereby losing all knowledge of individual relationship of feed to product pieces. Radioactive tracers offer a means to do something in this respect which could not be done before, namely, to follow the rupturing of some particular piece in its normal environment of other pieces. That is, it permits going beyond the usual statistical limitations of size distribution studies to what may be termed a personalized or individualized study. The purpose of this paper is to present some preliminary experiments conducted with this tool. The method employed was to mark radioactively some constituent of a feed. It is possible, of course, to consider the preparation of two lots of material of which one is radioactive and the other is not, and to blend the two ahead of the comminuting step; but to do so is open to the objection that the two preparations may not be identical. Therefore a technique has been chosen that removes this objection by merely taking out a size fraction of a comminution feed, rendering that fraction radioactive by exposure to a neutron flux, and then by returning it to Table I. Size Distribution of Offspring Albite Particles Originally 28/35 Mesh and in Admixture with Other Sizes After Grinding 2 min in a Steel Ball Mill Specific Activity &apos; Cumu- Corrected Distrl- latlve Size for Back- butlon In Distri- Fractlon ground, Weight, Product, button, of Product, cpm/gm g Pctb Pct Mesh (A). (W) (P) (ZP) + 28 0 56.0 0 100.1 28/35 62.6 54.0 24.8 75.3 35/48 62.8 59.4 27.7 47.6 48/65 41.1 53.0 16.2 31.4 65/100 29.6 45.7 10.2 21.2 100/150 23.7 37.0 6.6 14.6 150/200 23.3 25.1 4.4 10.2 200/270 20.1 19.0 2.9 7.3 270/400 17.8 21.2 2.9 4.4 -400 22.9 25.2 4.4 — 100.1 a These activity determinations were made in rapid succession in the order given. The specific activity (Ao) of the active 28/35 mesh fraction of the feed was measured at the beginning, after the measurement on the 65/100 mesh size fraction of the product, and; The end. The decay-corrected activities at those times were 246.7, 241.0. and 236.9 cpm per gm. The weight (W0) of the active 28/35 mesh fraction in the feed was 55.0. b Example of calculation for P in the 65/100 mesh oroduct frac- A W tion; A = 29.6, W = 45.7, Ao = 242.7, Wo = 55.0: P = — x — Ao Wo = 0.102 = 10.2 pet. the remainder of the charge for the comminution experiment. A relatively simple procedure was developed by which albite, containing sodium, was activated in the M.I.T. cyclotron. The cyclotron makes highspeed deuterons which impinge on a beryllium target, thereby producing a concentrated neutron flux. The mineral was exposed to this flux for 2 hr. This treatment changed enough of the sodium to sodium 24 (14.8 hr half-life, 1.4 mev ß) as to make detection and measurement easy. The nuclear reactions taking place were: 11Na23 (n,?) 11Na24 (irradiation) 11Na24 ß,?,? 12Mg24 (decay) The detailed technique of the experimentation was as follows: 40 kg of hand-sorted, lump albite were crushed to pass 10 mesh. After careful mixing of the lot, a screen analysis was made. The whole lot of material was fractionated on standard Tyler screens from 14 down to 200 mesh. Samples for experiments were compounded from these fractions in accordance with the screen analysis. When it was desired to make an experiment in which, for example, the 28/35 mesh size fraction was to be studied, the blend of size fractions was made as indicated above, except that the 28/35 mesh size fraction was added only after irradiation in the cyclotron. The blended charge containing the activated albite was ground for 2 min in a laboratory ball mill with a steel ball charge of controlled size distribution. The ground product was carefully sized on a set of Tyler screens in a Ro-tap. Each size was analyzed for radioactivity by the use of an end-window Geiger-Mueller counter and standard scaling circuit. This analysis was carried out in detail as follows: a 20-g sample was placed in a Petri dish, packed carefully to obtain reproducible geometric distribution with reference to the Geiger-Mueller tube, and the activity was counted for a 2-min period. Several determinations of the activity of the active size fraction in the feed were made at various times to establish the decay in activity with time. Linear interpolation was used to evaluate the activity that the active size fraction in the feed would have had at any given instant. The ratio of the observed activity in a size fraction of the product to the activity that the active size fraction in the feed would have had at the same time gives the fraction in the product size that came from the irradiated size in the feed. The general formula for finding the distribution, P, of a specific individual size fraction in the feed

Jan 1, 1952

By D. L. Ritter, N. J. Grant, B. C. Giessen

The crystal structures of eight of the nine intermediate phases in the Nb-Rh system were investigated by X-ray techniques. The following structures occur: a,Nb3Rh (Cr3O type);o(ofe - cr type) (H.T. phase, structure unknown); Q2 (AuCU type); a, (orthorhombic, analogous to a,, (Ta-Rh)); a (AuCd type); a,, (monoclinic, related to samarium type); a-8 (VCo3 type); a, NbRh, (AuCu, type). Structural relationships between the six close-packed intermediate phases are discussed and a comparison with the Nb-Ir, Ta-Rh, and Ta-Ir systems is made. In the Nb-Rh phase diagram,&apos; nine intermediate phases were encountered. In order to understand the phase sequence in the diagram and to be able to plot atomic volumes, several unknown crystal structures had to be worked out. These and the evi-

Jan 1, 1964

By Charles H. Hopkins, J. M. Lohr

A commercial development requiring a suitable alloy or alloys for sealing into various grades of glass made it desirable to have a more exact knowledge of the expansion characteristics of the nickel-iron alloys than appeared in the published literature. The expansion of the more common types of glass under consideration varies from 2.7 to 10.4 X 10-6 per degree Centigrade, over the range 20" to 400&apos; C. For reference, the t,hermal expansion curves of several types of glass used for sealing by the lamp and tube industries are given (Figs. 1 and 2). This paper covers a detailed investigation of the thermal expansion of a series of nickel-iron alloys in which the nickel content varies from 30 to 70 per cent. Particular stress is laid on the alloys that contain between 40 and 55 per cent Ni.

Jan 1, 1939

By Charles H. Hopkins, J. M. Lohr

A commercial development requiring a suitable alloy or alloys for sealing into various grades of glass made it desirable to have a more exact knowledge of the expansion characteristics of the nickel-iron alloys than appeared in the published literature. The expansion of the more common types of glass under consideration varies from 2.7 to 10.4 X 10-6 per degree Centigrade, over the range 20" to 400&apos; C. For reference, the t,hermal expansion curves of several types of glass used for sealing by the lamp and tube industries are given (Figs. 1 and 2). This paper covers a detailed investigation of the thermal expansion of a series of nickel-iron alloys in which the nickel content varies from 30 to 70 per cent. Particular stress is laid on the alloys that contain between 40 and 55 per cent Ni.

Jan 1, 1939

Although Australia is the world&apos;s second biggest producer of iron ore, the last few years have not been easy for companies in Western Australia&apos;s Pilbara region (see map) where more than 90% of the nation&apos;s iron ore is produced. For at least two years, the industry has been plagued by dwindling markets abroad, production-crippling strikes at home, skyrocketing costs (well above the official 13% annual inflation rate), an acute shortage of investment capital, increasingly ferocious competition from foreign iron ore producers-and, as if all this weren&apos;t enough, by an over-valued currency that has caused incalculable damage not only to iron ore producers but to the entire mining industry of Australia. (This last problem was mitigated less than two months ago, on November 28, 1976, when the Australian dollar was devalued by a whopping 17 1/2%.)

Jan 1, 1977

By David J. Dunn

At a time when mill availability is at a premium, production costs are rising, and lead time for mill liner casting is a year or more, mill liner design is an important factor in ore grinding. Testing and selection of the optimum liner profile for a given set of mill operating conditions can improve mill capacity, reduce liner wear rate, and lengthen liner life. The mill liner that grinds best, lasts the longest, and costs the least is a necessity for economic mill operation. After testing four mill liner profiles for 3.96 X 3.65-m (13 x 12-ft) overflow ball mills, Climax Molybdenum Co. found that an improved design increased mill tonnage by 2.72 t/h (3 stph) while reducing finish grind by 1.7% minus 100-mesh, reduced liner wear rate, and almost doubled liner life.

Jan 12, 1976

NEW MEMBERS. The following list comprises the names of those persons who became members during the month of June, 1913: Members. ANGERER, VICTOR, Vice-Prest. and Genl. Mgr., Wm. Wharton, Jr. &, Co., Inc., 25th St. and Washington Ave., Philadelphia, Pa. BULLOCK, ALLYN, Min. Engr., Hazleton, Pa. CUNNINGHAM, NOEL Met. Engr. Hollinger Gold Mines Ltd., Timmins, Ont Canada ESTABROOK, EDWARD L., Supt. of Colliery 426 Center St., Ashland, PA. GATES A. O. Instructor Purdue Univ. La Fayette Ind. 1 LUDLUM, ALBERT C., Prest., New York Engrg. Co., ,2 Rector St., New York, N. Y. MILLER, HERBERT F., Met. Engr P. O. Box 142, Verona, Pa. MORTON, ELMER T., Min. Engr Clifton, Ariz. MURFIT, RICHARD H.. Fdv. Asst Hess Steel Castings Co., Bridgeton, N.J. QUAYLE, THEODORE W., Chief Sampler, Metcalf Mines, Arizona Copper Co., Metcalf, Ariz.

Jan 7, 1913

By E. H. Rose

From the more distant members and some not so distant, the plaint is often heard that they cannot justify the expense and time required to attend the AIME Annual Meeting. Almost invariably, the reason given takes this form: "I just don&apos;t see that I would get enough out of it." Often the would-be clincher is added: "Besides, the meat of it all comes out in print anyway." Not long ago, a group of us who have seldom missed a meeting in recent years fell to discussing this phenomenon, and found ourselves in emphatic agreement that anyone holding such a belief indicates by his first remark that he does not know how to attend a convention, and by his second, proves it. He is, by and large, the man who has never been there, and of him, there are many.

Jan 1, 1949

By C. W. Schulties, W. J. Mallio, L. J. Petrovic, J. A. L. Campbell

Roof control comprises about 35% of direct and indirect underground mining costs. In addition, difficulties in estimating roof control costs for new areas lead to the greatest uncertainties when negotiating coal contracts. And obviously, coal cannot be mined if the roof can&apos;t be held. Accordingly, there are strong incentives to attack this problem on as many fronts as possible. One successful geological modeling technique for predicting future roof conditions was recently applied at Peabody Coal&apos;s Simco mine No. 5, located in Coshocton, Ohio. Benefits derived from it included: - A better identification of areas where poor safety conditions may be encountered. - Improved roof control cost estimates for contract negotiations. - Estimates of time-duration while mining in bad roof areas. - Labor and materials cost predictions in an existing mine. - Productivity increases through prior knowledge of areas to avoid.

Jan 10, 1975

The first meeting of the Naval Consulting Board was held at the office of the Secretary of the Navy, Washington, D. C., on Oct. 6, 1915. The Board organized by electing Thomas A. Edison, Chairman, Peter Cooper Hewitt, First Vice-Chairman, William L. Saunders, Second Vice-Chairman, and Thomas. Robins, Secretary. All of these officers are members of the American Institute of Mining Engineers. The other members of the Board are given below, and those who are members of the Institute are marked with an asterisk: *W. R. WHITNEY MATTHEW B. SELLERS. L. H. BAEKELAND. HUDSON MAXIM. FRANK JULIAN SPRAGUE. HOWARD T. COFFIN. BENJAMIN C. LAMME. ANDREW J. RIKER. R. S. WOODWARD. HENRY A. WISE WOOD ARTHUR GORDON WEBSTER. ELMER A. SPERRY. A. M. HUNT. *BENJAMIN B. THAYER. ALFRED CRAVEN. *J. W. RICHARDS. *SPENCER MILLER. *LAWRENCE ADDICKS. WILLIAM LE Roy EMMETT.

Jan 12, 1915

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members.) Members who registered at Institute headquarters during September: William B. Phillips, Austin, Texas. Will L. Clark, Jerome, Ariz. Olof Wenstrom, Boston, Mass. Robert H. Richards, Boston, Mass. Anthony F. Lucas, Washington, D. C. Hennen Jennings, Washington, D. C. P. H. Griffin, New York, N. Y. Waldemar Lindgren, Boston, Mass. H. N. Lawrie, Portland, Ore. C. Snelling Robinson, Youngstown, 0. Clarence P. Linville, Everett, Pa. E. P. Ross, Johnson, Tenn. Members of the XII International Geological Congress who made the Institute Office their headquarters while in New York A. Bigot, Caen, France. E. Gentil, Paris, France. J. Caillebotte, Paris, France. H. Saint-Clivier, Paris, France. John Ashworth, Manchester, England. Tadasu Hiki, Kioto, Japan. T. Dahlblom, Falun, Sweden. L. Milch, Greifswald, Germany.

Jan 10, 1913

By E. C. Reed

Ninety wells were completed in Nebraska during 1941, of which 42 were producers. One of them was the discovery well of a new field. All of the production to date is in Richardson County. At the close of the year 14 wells were drilling and three more were shut down for orders, hoping for future development of production. Most of the drilling activity was in Richardson County, which had 68 operations; 10 wells were drilled in Nemaha County, 5 drilled or drilling in Gage County, 3 each in Otoe and Furnas Counties, 2 each in Cass, Harlan, Johnson and Sarpy Counties, and 10 wells were completed or drilling over the remainder of the state. The most important development of the year was the discovery in October of the Barada field, sec. 36, T. 3 N., R. 16 E.,

Jan 1, 1942

By E. C. Reed

Ninety wells were completed in Nebraska during 1941, of which 42 were producers. One of them was the discovery well of a new field. All of the production to date is in Richardson County. At the close of the year 14 wells were drilling and three more were shut down for orders, hoping for future development of production. Most of the drilling activity was in Richardson County, which had 68 operations; 10 wells were drilled in Nemaha County, 5 drilled or drilling in Gage County, 3 each in Otoe and Furnas Counties, 2 each in Cass, Harlan, Johnson and Sarpy Counties, and 10 wells were completed or drilling over the remainder of the state. The most important development of the year was the discovery in October of the Barada field, sec. 36, T. 3 N., R. 16 E.,

Jan 1, 1942