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By Arthur W. Gray

The thermal analysis of a metal or an alloy is ordinarily made with the aid of heating and cooling curves in which transitions are indicated by the rapid changes in curvature that accompany changes in the rate of heat absorption or evolution. Analysis by the method that depends on the change in thermal expansivity is not customary, partly, at least, because of the difficulties involved in making the necessary measurements. However, under certain circumstances, the dilatometric method of analysis may possess advantages over the thermometric method that will justify the additional trouble required. The addition of 1 per cent. of zinc to an alloy has been found to produce upon the volume changes that take place during transition effects that suggest the possibility of using the dilatometric method of thermal analysis as a rather sensitive means of obtaining chemical information. Although the illustrations presented in this paper are drawn from data obtained during an investigation of dental amalgams, similar phenomena can doubtless be observed with other alloys. Some of the results found during an investigation made in 1917l have been confirmed by data on the thermal expansivity of amalgams published by Souder and Peters of the Bureau of Standards in reporting tests of dental materials.2 Although the Bureau of Standards made experiments for the purpose of discovering effects of including zinc as one of the constituents of a dental alloy—a matter much discussed in dental literature but without the presentation of reliable experimental evidencae to support the views of either side—the reports of the tests made by the Bureau give the impression that certain striking phenomena associated with the presence of zinc were not noticed. Among such phenomena arc those connceted with the conditions that determine whether or riot a specimen of amalgam becomes covered with droplets from which crystals develop.

Jan 1, 1921

By Charles Burgess

THE improvement, in the quality of cast iron by means of alloy additions has been a metallurgical accomplishment of recent years. Work in this field has shown that chromium is one of the most effective of such additions but, in general, the influence of chromium has been studied only in. connection with other alloying additions, with irons other than foundry irons, or with relatively high percentages of chromium. The present study was initiated for the purpose of determining the influence of small additions of chromium (0.25 to 1.00 per cent) on the quality and resultant properties of cast irons of various foundry grades. The effect of small chromium additions on cast iron was investigated with particular reference to casting characteristics, hardness vs. section, strength, machinability, heat resistance and structure. MATERIAL TESTED Three separate types of cast iron were investigated as to the effect of small chromium additions. The first series of these irons was prepared from remelted foundry cast iron at the Union Carbide and Carbon Research Laboratories, and the other two -series consisted of cupola melts made under usual operating conditions. The first series was made by melting 30-lb. charges of foundry scrap iron containing - 2.86 per cent carbon, 2.72 silicon, 0.50 manganese, 0.062 sulfur and 0.794 phosphorus in a carbon resistance furnace. The chromium was added as high-carbon ferrochrome just before pouring. The irons were cast at approximately 1250° C. (2282° F.). The analysis and physical properties of these irons are given in Table 1, test 1. The second set of cast irons was made in a cupola in accordance with normal practice, 'the charge containing approximately 42 per cent steel scrap and the chromium additions being made to the ladle. Analysis and tests of these heats are shown In Table 1, test 2. A small amount of copper was present in heat C of this series.

Jan 1, 1932

By D. J. McAdam

As shown in three recent papers by the author,6,7,8 in two papers by McAdam and Mebs,9,10 and in a paper by McAdam, Mebs, and Geil,11 the technical cohesive strength of a metal, in any particular state as regards mechanical treatment and heat-treatment, cannot be represented by a single stress value, but must be represented by a diagram with the principal stresses? as coordinates. Each point on the boundary of such a diagram represents a technical cohesion limit. The technical cohesive strength thus comprises an infinite number of technical cohesion limits, each representing fracture under a specific stress combination. Moreover, neither the yield strengths nor the ultimate strength can be represented completely by a single stress value, but must be represented by a diagram with the principal stresses as coordinates. All combinations of the principal stresses may be classified in three groups as illustrated by Fig. I. Fig. Ia shows three typical stress combinations with no two principal stresses equal. The magnitude of each principal stress is indicated qualitatively by the length of the arrow. Arrows pointing away from the cube indicate tensile stresses; arrows pointing toward the cube indicate compressive stresses. Typical stress combinations with two principal stresses equal are illustrated in Figs. Ib and Ic. Such stress combinations would be produced by subjecting a cylinder to combinations of uniform axial and radial stresses. The uniform radial stress may be resolved into two equal principal stresses, with the mutually perpendicular directions rotatable around the axis of the cylinder. Fig. Ib shows stress combinations with S2 equal to Sa. The greatest principal stress is in the axial direction, and the stress combination tends to cause either absolute or relative increase in length.* Fig. Ia shows stress combinations with Ss equal to Sl. The greatest principal stress is in the radial direction, and the combination tends to cause either absolute or relative decrease in length. The complete representation of either technical cohesive strength, yield strength, or ultimate strength generally requires a three-dimensional diagram. When two of the principal stresses are kept equal, however, the strength of a metal may be represented by a two-dimensional diagram with the coordinates representing the axial and radial stresses.6-11 In this paper, attention will be confined almost entirely to stress combinations with two of the prin-

Jan 1, 1944

By H. P. Greenwald

THE rapidly increasing use in coal mines of portable auxiliary fans, which are generally "blowers" employed in connection with canvas tubing, raises questions concerning the hazards of such equipment, especially where the practices are opposed to established methods of ventilating face workings. Half a dozen or more coal-mine explosions and some fires have been attributed to the use of auxiliary fans; moreover, competent mining engineers have found many dangerous installations and methods of use-for example, intermittent running of the fans in gassy mines with consequent accumulations of firedamp at the faces. These facts have led the U. S. Bureau of Mines to issue this recommendation: "In the interest of safety, the Bureau of Mines, Department of Commerce, recommends that auxiliary fans or blowers should not be used in coal mines as a substitute for methods of regular and continuous coursing of the air to every face in the mine." The comparatively recent introduction of new types of mining machines, mechanical loaders, face conveyors, and slabbing machines has encouraged the trial of new systems of face mining, all of which have for their object the rapid advance of the faces. Although the latter has certain economic advantages, in gassy mines the rate at which gas is given off is generally found to increase in proportion to the speed of advance into new territory, which in turn increases the difficulties of efficient ventilation of the face workings. Some of the systems of advance mining being tried in connection with new mechanizing methods practically compel the use of blower fans and tubing, as single narrow places are now driven, 300 ft. or more without crosscuts. In some instances a series of parallel headings are driven without crosscuts pre-

Jan 1, 1928

By Russell Franks, W. O. Binder

In recent years a considerable tonnage of the 18 per cent chromium and 8 per cent nickel steels has been used in lightweight high-strength structures that must be resistant to deterioration under atmospheric conditions. These steels are austenitic in character and their strength can best be increased by cold-working. Although a marked increase in tensile strength is obtained, claims have been made that the cold-worked steels do not possess fully satisfactory elastic propertics. Under certain conditions, however, this has caused no great concern, because, as explained by Ragsdale,1,2 he cold-rolled steels have been widely applied for construction of lightweight, high-strength trains using spot welding for joining purposes. Ffield3 agrees that the ease with which thin sections of the cold-rolled 18-8 steels can be joined by spot welding is greatly in their favor, but that they would be more satisfactory if higher elastic properties and a higher modulus of elasticity could be obtained. He states that, as far as the mechanical properties are concerned, the straight chromium stainless steel is superior to the cold-worked 18-8 steel, and in order to illustrate, he prcsented the data of Fig. 1, which also give a stress-strain curve for a low-carbon 13 per cent Cr steel. Ffield† proposed that columbium-bearing or titanium-bearing cold-rolled 18-8 steels be given a heat-treatment (preferably for 1 hr.) in the range 400" to 600°C. to precipitate carbides in order to obtain better mechanical properties. Discussions by Sutton,4,5 de Ganahl,6,7,8 Krivobok and Lincoln,' Knerr,l0 and Thaden11 have given further information on the properties of the cold-rolled 18-8 steels compared with other materials used in lightweight, high-strength structures. These investigators and others point out that the ultimate tensile strength of the cold-rolled 18-8 steel can be increased to 200,000 lb. per sq. in. or higher; Krivobok et al. indicate that

Jan 1, 1940

By Russell Franks, W. O. Binder

In recent years a considerable tonnage of the 18 per cent chromium and 8 per cent nickel steels has been used in lightweight high-strength structures that must be resistant to deterioration under atmospheric conditions. These steels are austenitic in character and their strength can best be increased by cold-working. Although a marked increase in tensile strength is obtained, claims have been made that the cold-worked steels do not possess fully satisfactory elastic propertics. Under certain conditions, however, this has caused no great concern, because, as explained by Ragsdale,1,2 he cold-rolled steels have been widely applied for construction of lightweight, high-strength trains using spot welding for joining purposes. Ffield3 agrees that the ease with which thin sections of the cold-rolled 18-8 steels can be joined by spot welding is greatly in their favor, but that they would be more satisfactory if higher elastic properties and a higher modulus of elasticity could be obtained. He states that, as far as the mechanical properties are concerned, the straight chromium stainless steel is superior to the cold-worked 18-8 steel, and in order to illustrate, he prcsented the data of Fig. 1, which also give a stress-strain curve for a low-carbon 13 per cent Cr steel. Ffield† proposed that columbium-bearing or titanium-bearing cold-rolled 18-8 steels be given a heat-treatment (preferably for 1 hr.) in the range 400" to 600°C. to precipitate carbides in order to obtain better mechanical properties. Discussions by Sutton,4,5 de Ganahl,6,7,8 Krivobok and Lincoln,' Knerr,l0 and Thaden11 have given further information on the properties of the cold-rolled 18-8 steels compared with other materials used in lightweight, high-strength structures. These investigators and others point out that the ultimate tensile strength of the cold-rolled 18-8 steel can be increased to 200,000 lb. per sq. in. or higher; Krivobok et al. indicate that

Jan 1, 1940

By C. E. Sims, C. A. Zapffe

AN investigation of the behavior of inclusions in steel several years ago1 led to the conclusion that some of the commonly occurring inclusions in steel have appreciable solubilities, particularly in liquid steel. In the belief that further study and clarification of this matter was warranted, a laboratory study of oxides in liquid steel was started. These oxides are generally the result of deoxidation treatment, and the basis of an understanding of their behavior must be, therefore, the behavior of the deoxidizer in liquid iron. The Fe-Si-O system was selected for the first study, and the apparatus used and experiments conducted are described herein. APPARATUS The apparatus is shown in Fig. I and the system is shown by diagram in Fig. 2. Furnace Atmosphere Commercial hydrogen (1) passes through an orifice (2) into a manometric system that measures the tankside pressure (3) and the back pressure (4) in the system. A water trap (5) guards against excess tankside pressure. A by-pass with stopcocks (6 and 7) is provided, so that the hydrogen can be routed directly from the tank to the furnace if desired. When stopcock 7 is closed and stopcock 6 is open, the gas proceeds through the conditioning train, of which the first unit is a furnace (8) that contains platinized asbestos at 350°C. The temperature is measured by a thermo-couple and potentiometer (9) and is controlled by a slidewire resistance (10). In [ ] this furnace free oxygen is converted to water vapor. The exiting gas passes over a water bath (11) kept slightly below boiling temperature by an auxiliary heating unit (12). This unit also heats a surrounding copper coil (13) containing water, and the heated water rises through a collar (14)

Jan 1, 1942

By A. U. Seybolt, R. A. Oriani

The pressure and composition of the solid solution of nitrogen in chromium has been investigated as a function of temperature. The partial molal heat of solution, the activity of nitrogen in solid solution, and the partial molal free energy have been computed. The enthalpy of three reactions is summarized: N + 2Cr(3) = Cr2N(4), H° = —28,500 cal per mol 1/2N2(p) + 2Cr(8) = Cr2N(3)1 ?HO = —23,500 cal per mol 1/2N2(p) = N, ?H° = 5,000 cal per mol. WORKERS who have investigated the problem of the preparation of ductile chromium have been concerned with the effects of minor amounts of impurities upon this refractory metal. In particular, gaseous impurities such as oxygen and nitrogen have been suspected of causing trouble because of many known cases where brittleness in transition elements has been definitely traced to these elements. In order to evaluate the possible effects of the nitrogen impurity in chromium, it appeared desirable to learn something of the dependence of the nitrogen solubility upon temperature and pressure. Previous Work Maier3 in 1942 in his treatise on sponge chromium reviewed the thermodynamics of the chromium nitrides Cr2N and CrN, both of which are well-estab- lished compounds, but which apparently have not been studied in much detail. Maier presented some free energy-temperature expressions for the reactions 2 Cr,N = 4 Cr + N2 [1] and 4 CrN = 2Cr2N + N2 PI based mainly on the work of Satoh2 and Sano." Pearson and Ende3 in 1953 briefly reviewed the thermodynamics of Cr-N using the same data available to Maier, and also derived a free energy-temperature expression for reaction 1. Of the two nitrides mentioned previously, the present investigation was only concerned with Cr,N, since this nitride is in equilibrium with the metal phase, at least over most of the temperature range, Blix4 in 1929 established the structure of Cr2N (close-packed-hexagonal) by X-ray diffraction methods, and indicated that its homogeneity limits extend from 11.2 pet to 15.1 wt pet N. At a temperature of 1200°C, 38 mm Hg from the Maier expression and 43 mm Hg from the Pearson

Jan 1, 1957

By J. S. Vanick

An extremely hard, tough, and strong, white or chilled cast iron has been applied for the past several years to industrial and mining services in which its unusual properties have been confirmed by its ability to deliver in many instances much better performance than plain chilled iron, or other wear-resistant materials. It is being produced regularly by alloying a good base composition of chilled or white cast iron with essentially 4 to 6 per cent of nickel and 1 to 2.5 per cent of chromium. Such a material can attain a hardness exceeding 600 to 750 Brinell as against 380 to 530 for corresponding grades of plain chilled iron. The strength is approximately doubled and the toughness significantly increased. These properties make it especially useful for many applications requiring a high hardness for resistance to wear, abrasion, attrition, deformation; to some extent to high compressive loading and to a lesser but important degree to corrosive action. A wide variety of commercial castings is being successfully produced from this iron, ranging in size from the small grain-grinding plates or burrs through medium-sized castings such as sand pumps up to large, heavy castings such as rolls for metal rolling or cement grinding. The composition of this white cast iron may be roughly bracketed within the range shown in Table 1.

Jan 1, 1933

By A. A. Rauth

In this paper, the author derives a series of formulas from basic principles and illustrates the application of these formulas to practical grinding charge problems. The paper establishes the nearly proportional relationship of mill power to charge level and shows how this relationship can be used to advantage in the design, manufacture and operation of grinding mills. The procedures outlined offer a rapid means of anticipating the power requirements for a given charge or determining makeup charges for a given power reading. The theories which have been developed concerning the dynamics of grinding have been motivated largely by the desire to derive workable formulas for the accurate determination of grinding mill power. This accurate determination has always been handicapped by the large number of variables to be considered, some of which are mill diameter, length, speed, liner design, grinding charge and material density, volumetric mill loading, internal friction, and charge size and gradation. In efforts to determine mill power, attempts have been made to utilize torque concepts. The formulas derived consider the grinding mass as a rigid body and utilize factors that are based on empirical data so that the movement of the charge within the mill is compensated for. These formulas are of principal interest to the mill designer since he is charged with the responsibility of analyzing all of the variables and from them predicting a mill size and a motor size which are compatible both with each other and with the grinding job for which they were intended. The mill operator, on the other hand, has an entirely different problem. The mill dimensions are already established and so is the driving motor. The operator's main concern is to obtain maximum performance from the mill he already has. For him, the many variables which perplex the mill designer are fixed values. Mill diameter, length and speed are set and, to a large extent, so are the conditions inside the mill from which the torque formula advocates derive their empirical data. It is conceivable that if the major mill dimensions which affect power demand are held constant, and if the variables influencing empirical factors are held fairly constant, as they are in an operating mill, then the only major variable remaining which affects power is the level of the charge itself. Under this condition.

Jan 1, 1970

By AIME

One of the operations of the J. L. Shiely Co. is quarrying in a hard granite gneiss with intrusions of gabbro or trap. During the winter of 1948-1949 the quarry ramp was lowered about 30 ft and during the 1949 season practically all drilling was done from the quarry floor, developing a face from 72 to 83 ft for the entire quarry area. The performance and cost table shows our record for 1948 and 1949.

Jan 1, 1950

By R. T. Hukki, A. M. Gaudin

Previous work on the principles of comminution has shown: (I) that the surface produced is proportional to work input (Rittinger law,1a-3); (2) that there is regularity to the weight distribution of the fragments according to size.4-10 In this paper it is brought out that the surface on the fragments is distributed in definite and simple relation to size. The experimental work has involved: I. Construction of an apparatus capable of measuring the surface of mineral fragments independently of the chemical composition of the fragments and independently of the site of the surface; 2. Refining the methods available for measurement of particle size; 3. Designing and building a crusher capable of operating on very small quantities of mineral, if necessary on single crystals, and in such fashion as to minimize handling losses of material. Complete experiments have been carried out with massive quartz and individual quartz crystals. partial experiments, lacking surface measurements, have been made with glass spheres, galena, sphalerite, fluo-rite, salt and coal. Introduction The existence of regularity in weight distribution with size was noted many years ago, especially by A. 0. Gates;' the subject was also studied in detail by one of us.6 In the latter paper it was shown that rocks can be divided into two classes: homogeneous rocks, which show no preferential breaking, and heterogeneous rocks, which show preferential breaking at the grain size of the rock. It was shown, furthermore, that the fragments obtained by rupturing a homogeneous rock occur (in the fine range) in such abundance as to permit the writing of a relatively simple equation to relate the weight retained on a screen to the screen opening. With screens of which the openings are in constant ratio, the weight retained, w, is related to the screen size x by the equation w = Cxm [I] In this equation C and m are experimental constants. A plot of weight retained against particle size is a straight line of slope m if the scales for x and w are both logarithmic. In the fine range, the slopes of the size-distribution graphs plotted according to the method described above vary within a limited range. An inspection of a number of size-distribution data by various experimenters indicates that the slope very seldom exceeds 1.0, but is usually greater than 0.7. More recently, schuhmann8 proposed a method of charting that has so many advantages of its own that it has been used primarily in this work. For fine particles Schuhmann has found that the data are represented by the equation (x)m k [2]

Jan 1, 1947

By A. M. Gaudin, R. T. Hukki

Previous work on the principles of comminution has shown: (I) that the surface produced is proportional to work input (Rittinger law,1a-3); (2) that there is regularity to the weight distribution of the fragments according to size.4-10 In this paper it is brought out that the surface on the fragments is distributed in definite and simple relation to size. The experimental work has involved: I. Construction of an apparatus capable of measuring the surface of mineral fragments independently of the chemical composition of the fragments and independently of the site of the surface; 2. Refining the methods available for measurement of particle size; 3. Designing and building a crusher capable of operating on very small quantities of mineral, if necessary on single crystals, and in such fashion as to minimize handling losses of material. Complete experiments have been carried out with massive quartz and individual quartz crystals. partial experiments, lacking surface measurements, have been made with glass spheres, galena, sphalerite, fluo-rite, salt and coal. Introduction The existence of regularity in weight distribution with size was noted many years ago, especially by A. 0. Gates;' the subject was also studied in detail by one of us.6 In the latter paper it was shown that rocks can be divided into two classes: homogeneous rocks, which show no preferential breaking, and heterogeneous rocks, which show preferential breaking at the grain size of the rock. It was shown, furthermore, that the fragments obtained by rupturing a homogeneous rock occur (in the fine range) in such abundance as to permit the writing of a relatively simple equation to relate the weight retained on a screen to the screen opening. With screens of which the openings are in constant ratio, the weight retained, w, is related to the screen size x by the equation w = Cxm [I] In this equation C and m are experimental constants. A plot of weight retained against particle size is a straight line of slope m if the scales for x and w are both logarithmic. In the fine range, the slopes of the size-distribution graphs plotted according to the method described above vary within a limited range. An inspection of a number of size-distribution data by various experimenters indicates that the slope very seldom exceeds 1.0, but is usually greater than 0.7. More recently, schuhmann8 proposed a method of charting that has so many advantages of its own that it has been used primarily in this work. For fine particles Schuhmann has found that the data are represented by the equation (x)m k [2]

Jan 1, 1947

Jan 1, 1950

By David E. Nicholas

INTRODUCTION In this paper, a numerical process for selecting a mining method, with the emphasis on underground mass mining techniques, such as caving, induced caving, and stoping, is proposed. In the past, selection of a mining method for a new property was based primarily on operating experience at similar type deposits and on methods already in use in the district of the deposit. Then, the chosen method was modified during the early years of mining as ground conditions and ore character were bet- ter understood. Today, however, the large capital investment required to open a new mine or change an existing mining system make it imperative that the mining methods examined during the feasibility studies and the method actually selected have a high probability of attaining the projected production rates. Although experience and engineering judgment still provide major input into the selection of a mining method, subtle differences in the characteristics of each deposit, which may affect the method chosen or the mine design, can usually be perceived only through analysis of measured characteristics. The parameters that must be examined when choosing a mining method include: 1) geometry and grade distribution of the deposit; 2) rock mass strength for the ore zone, the hanging wall, and the footwall; 3) mining costs and capitalization requirements; 4) mining rate; 5) type and availability of labor; 6) environmental concerns; and 7) other site-specific considerations. This paper encompasses a detailed look at the first two parameters since they, plus mining costs, have the greatest impact on the selection of a mining method. The proposed method selection process is for a project where drilling has defined sufficient geologic reserves, but little or no underground development has been done. Since each deposit has its own characteristic geanetry/grade distribution, and rock mechanics properties, mining method selection should be at least a two-stage process. In Stage 1, the deposit is described in terms of geometry, grade distribution, and rock mechanics properties. Using these parameters, the mining methods can be ranked to determine which are most applicable; they can then be considered in general terms of mining and capitalization cost, mining rate, type and availability of personnel, environmental concerns, and other site-specific considerations. In Stage 2, the most likely mining methods are costed out, based on a general mine plan. Mining and capitalization costs are used to determine a cut-off grade fran which a minable reserve can be calculated; economic comparisons can then be made to determine the optimum mining method and economic feasibility. During the mine planning phase of Stage 2, rock mechanics information would be used to provide realistic estimates of underground opening size, amount of support, orientation of openings, and caving characteristics, and open pit slope angles. If ground control or operational problems should be encountered with the methods being considered, modifications could be made. Although planning on paper extends start-up time, it is cheaper to err on paper than to find the error after mining has begun. METHOD SELECTION - STAGE 1 The main purpose of Stage 1 is to select those mining methods which should be considered in greater detail. The simplest way to do this is by defining those characteristics required for each mining method and then determining whether the characteristics of the deposit are suitable. However, no one mining method is so restrictive that it can be used for only one set of characteristics, as indicated by the classification system proposed by Boshkov and Wright (1973). In the mining method selection proposed, geometry, grade distribution, and rock mechanics characteristics are ranked according to their acceptability for ten general mining methods.

Jan 1, 1981

By D. R. McCord

Data of a known statistical quality has been successfully used in a system of conventional fluid mechanics equations essentially free of empirical "conformance factors to prediet early detailed field 03 in a reservoir where gravity drainage is important and oil and rock properties vary con. siderably. The system is useful where comparative recovery predictions for one or more cases of natural depletion and gas cap pressure maintenance are needed and the reservoir is not too heterogeneous. INTRODUCTION Many authors, have examined various facet* of the gravity drainage-gas cap pressure maintenance problem over the last several years. Two of them. Burtchaell and Elkins, have published practical studies. In the case described in the present paper the best development and operating plan for one of the important reservoirs of the Bolivar Coastal Field in Western Venezuela was urgently needed. It was requested that sound comparative economics be presented along with an engineering evaluation of no additional drilling, maximum drilling. several cases of gas pressure maintenance, of water flooding and combination cases. A rapid analysis of the effect on recovery of the range of crude and rock properties indicated that none of the published methods using average properties would yield adequate comparative predictions. This paper covers the predictive system developed to deal with natural depletion and gas cap pressure maintenance. The large amount of data available for this field permitted statistically reliable correlations to be made of most rock and oil properties, and the evident smooth areal variations of these properties encouraged the construction of a lineal mathematical model of material balance and fluid flow equations, which could be manipulated by a modified iterative procedure. The manipulation is much more adaptable to computing machines than manually operated calculators and subsequent studies have been prepared for the IBM Card Program Calculator. A matrix as opposed to linear model has been tentatively worked out by other members of our group to deal with more heterogeneous reservoirs. It is more adaptable to computers such as IBM-701 or the Remington-Rand Univac. In 1950, when the system reported below was developed, no rapid computing machines were available to the author. Their existence and promise encouraged an initial approach by hand. Some details of oil and rock Property correlation are included because there are a surprisingly large number of medium-sized reservoirs in the world that show systematic property variations which are significant for a rigorous analycon. All large reservoirs (over half a billion barrels recovery) with which the author is familiar contain at minimum a significant temperature variation. Using the rock and oil property correlations, past pressure and production, the gas-oil ratio history of the reservoir was computed and found to be in close agreement with field measurements. The future performance under cases of natural depletion, gas injection of 100 MMcf/day, and of 130 MMcf/day, was then computed; a 70 MMcf/day case was also carried far enough to provide data for comparative economics. The 130 MMcf/day case proved to be the most attractive. A 50,000 horsepower gas turbine driven centrifugal compressor plant to take this quantity of adjacent field gas from 30 to 1,950 psia and inject it into the reservoir is under construction. The total cost of the project will exceed 20 million dollars.

Jan 1, 1953

Jan 1, 1954

By E. C. Harder

Few mineral deposits have in recent years attracted such general and widespread attention as the Brazilian iron-ore depositis…

Jan 1, 1915

Membership at the end of the year 1951 was 19,711 including 2228 Student Associates. The data in the third column include these Student Associates. 1. This includes all the cash dues income received from new and old members of all grades. 2. All cash initiation fees received. 3. Net income received from advertising in the three journals. The figure was $72,273, for MINING ENGINEERING; $39,844 for the JOURNAL OF METALS; and $31,564 for the JOURNAL OF PETROLEUM TECHNOLOGY. Income in 1950 was $54,572, $30,390, and $18,443 from these sources, respectively. 4. Receipts from individual sales, nonmember subscriptions, and multiple subscriptions of members. 5. Includes Transactions volumes and the Petroleum Statistics volume. 6. Sales of all other printed matter except special volumes sponsored by certain Funds. Includes a considerable sale of preprints and reprints of technical papers. 7. Does not include dividends and interest from certain Funds whose income reverts to those Funds. 8. Miscellaneous income not included in any of the above categories. 9. The total income compares with $493,197 -in 1950, an increase of $29000.

Jan 1, 1952

By Dr. O’Neil Thomas J., Donald W. Gentry

"We can easily represent things as we wish them to be..” -Aesop INTRODUCTION The first eight chapters of this book have primarily addressed the concepts and fundamentals associated with project valuation, particularly as they apply to mining-related projects. Specific emphasis was placed on the engineering and economic parameters and estimates necessary for quantifying line items in pro forma income statements and the subsequent calculation of net annual cash flows. Given these estimates of relative benefits, costs, and annual cash flows for a project, it then becomes necessary to convert these estimates into measures of relative desirability or attractiveness. The criteria and techniques typically utilized to determine project acceptability or desirability are, then, the topics of discussion in this chapter. Before proceeding it may be advantageous to put the problem of project evaluation into proper perspective by reiterating some of the fundamental concepts developed in Chapter 1. The basic premise set forth in this book is that the objective of the firm should be to maximize its value to its owners (stockholders' wealth). This value or wealth is represented by the market price of the firm's common stock; consequently, the primary objective of the firm can be restated as one of maximizing the value (price) of the firm's common stock in the marketplace over the long term. This price, in effect, is an indicator or index of the market's perception of the company's progress and a reflection of the investment, financing, and dividend decisions made by corporate management. These three major decisions are inter- related and jointly impact the market price of the firm's stock. Therefore, if the objective of maximizing the value of the firm to its stockholders is to be achieved, an optimal combination of the three decisions will be necessary. It is important to emphasize that maximizing stockholder wealth is not the same as profit maximization or even the maximization of earnings per share. Corporate managers making decisions based on the objectives of maximizing profits and/or earnings per share must recognize that these objectives do not consider: (I) the timing or duration of expected returns, (2) the business and financial risks of the promised earnings, or (3) the dividend policy of the firm. Obviously all of these factors are of concern to the company's stockholders and will have an effect on the market value or price of the firm's common stock. Maximizing market price per share, or wealth maximization, is therefore the appropriate corporate objective and

Jan 1, 1984