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PRESIDENT Mrs Oliver Bowles 5000 Massachusetts Ave N W Washington 16, D. C FIRST VICE-PRESIDENT Mrs David Eugene Park 350 East 57th Street New York 22, N Y. SECOND VICE-PRESIDENT Mrs A B. Kinzel 320 Park Avenue New York 22. N. Y

Jan 1, 1952

By F. E. Gregory

MINING methods and customs in many districts of England are to this day strangely bound about by the records and traditions of the past. In some mining fields this is more apparent than in others, yet it is everywhere in evidence, for Cornwall with her mines under the sea, Wales with her famous quartzites, and Derbyshire with her remarkable cavern deposits, are all tinctured with quaint customs that have come out of the almost forgotten past. Here, modernism has never replaced tradition, and many of the laws are woven of the woof and warp of ancient custom. Indeed, these things exist because they have come to be part and parcel of the civil laws. And these laws are observed with meticulous care and accorded all the reverence due their venerable age. All activities pertaining to the mining of metals are hedged around by curious and ofttimes clumsy laws, each minute and trivial detail being covered by the civil code, and each petty law enforced by an ofttimes pompous official.

Jan 1, 1933

R. G. BROWN, Bodie, Cal.: Mr. Rickard's paper, with its valuable illustrations, brings into fresh clearness the game of hide-and-seek which the miner must play with his ore-deposit; but, more than this, it goes far towards classifying those perplexing idiosyncrasies which, while unclassified, constitute a labyrinth almost without clue. Probably every engineer can add to the list by the mention of at least one fresh detail from his own experience, and I for one would like to comment on two of Mr. Rickard's divisions. To what he has written about " walls within walls" and " walls without walls," the accompanying Figs. 1 and 2 may be appropriate, the more so as they represent conditions obtaining in a part of the Butte copper-belt more typical of the copper-veins as a whole than the Gagnon, which, in some respects the most interesting mine in the camp, stands almost alone in many particulars. (See nuns., xvi., 62.) Fig. 1 was sketched in January, 1895, in the stopes above the 700-foot level of the Colusa-Parrot mine, east of the Parrot and southwest. of the Anaconda. The stope, the commercial foot-wall of which is shown at A, was 30 feet wide at this section, the pay-ore being massive chalcocite, jumbled with bornite, pyrite, quartz and thoroughly broken-down granite. A and At are inch-thick seams of black talc; B, B' and B" are also talc, possibly 1/8-inch thick. In the plane of the section the "banded quartz " and " quartz and pyrite " were both of too low grade for extraction, but 5 feet back along the stope had been of fair value. The granite with quartz and bornite between Bt and A' was pay-ore, but that to the right of B" was not. In both cases the ferro-magnesian minerals had been removed, leaving, where not obscured by ore, faint, dark patches. Between A'

Jan 1, 1897

By Raymond D. Sloan

Retaining third place in crude-oil production among the nation's oil-producing states, Oklahoma's output in 1942 totaled 137,792,000 bbl., a decline of 9.4 per cent from the previous year's total of 152,117,000 bbl. Production declined from an average of 403,000 bbl. daily in January 1942 to an average of 355,000 bbl. during December, a reduction of 48,000 bbl. daily (11.9 per cent) during the year. At the end of 1942 it would appear inevitable that the downward trend in production will continue in 1953 unless halted in the immediate future by greater than normal discoveries and development. To Jan. I, 1943, Oklahoma has produced 5,067,013,000 bbl. oil crude oil. Development and Exploration Development dropped abruptly in 1942, reflecting the lack of any sizable discoveries and the effect of the provisions of Federal Well Spacing Order M-68, which became effective in December 1941. In all, 1210 wells were drilled in 1942. This represents a decrease of 42.7 per cent from the 1941 total of 2110. Of the total wells completed, 553 (45.7 per cent) were oil wells with an average initial production of 443 bbl.; 102 (8.4 per cent) were gas wells with an average initial of 3,359,000 cu. ft.; and 555 (45.9 per cent) were dry. Although the number of completions declined sharply, the total of 320 wildcats completed (26.4 per cent of all wells) repre-sents a decrease of only 2.7 per cent from the previous year's figure of 329. Of the wildcats drilled, 44 (13.8 per cent) were oil wells, 13 (4.0 per cent) were gas wells, and 263 (82.2 per cent) were recorded as failures. Reconditioning of wells throughout the state resulted in a total recompletion of 355 wells. Of these, 234 were oil wells with a combined initial production of 96,808 bbl., 32 were gas wells with a total initial of 381,488,000 cu. ft., and 89 were abandoned. None of the 26 pools found in 1942 has developed into a major discovery. The Pauls Valley pool, Garvin County, is the most outstanding. Since its discovery in April, 14 wells with an average initial of 1898 bbl. have produced 803,000 bbl. of 42' gravity oil from the Bromide zone. Development in this pool is believed to be almost completed. Other of the more important discoveries are the East Watchorn pool, Pawnee County; Guthrie Townsite and West Navina, Logan County; Brooksville and Macomb, Pottawatomie County, and the Liberty and Northeast Lucien discoveries in Noble county. The East Watchorn pool, at the close of the year, had 14 completed oil wells with an average initial of 989 bbl. from the Wilcox sand at 3930 it.; Guthrie Townsite, one well with an initial of 840 bbl. from dolomite at 5600 It.; West Navina, six wells with an average initial of 284 bbl. in the Lay ton sand at 5050 ft., Brooksville, eight wells in the Hunton at 4800 ft. with an average initial 01 355 bbl.; Macomb, one well with an initial of 160 bbl. in the IIunton at 4700 ft.; the Liberty pool, one well with an initial of 1268 bbl. in the second Wilcox at 4500 ft., and two wells in the Tonkawa sand at 2500 ft., with an average initial of 230 bbl. In the Northeast Lucien pool, four wells were completed in the Wilcox at 5380 ft. for an average initial of 1164 bbl., and one well was completed in the Viola lime at 5255 ft. for an initial of 55 barrels.

Jan 1, 1943

By Raymond D. Sloan

Retaining third place in crude-oil production among the nation's oil-producing states, Oklahoma's output in 1942 totaled 137,792,000 bbl., a decline of 9.4 per cent from the previous year's total of 152,117,000 bbl. Production declined from an average of 403,000 bbl. daily in January 1942 to an average of 355,000 bbl. during December, a reduction of 48,000 bbl. daily (11.9 per cent) during the year. At the end of 1942 it would appear inevitable that the downward trend in production will continue in 1953 unless halted in the immediate future by greater than normal discoveries and development. To Jan. I, 1943, Oklahoma has produced 5,067,013,000 bbl. oil crude oil. Development and Exploration Development dropped abruptly in 1942, reflecting the lack of any sizable discoveries and the effect of the provisions of Federal Well Spacing Order M-68, which became effective in December 1941. In all, 1210 wells were drilled in 1942. This represents a decrease of 42.7 per cent from the 1941 total of 2110. Of the total wells completed, 553 (45.7 per cent) were oil wells with an average initial production of 443 bbl.; 102 (8.4 per cent) were gas wells with an average initial of 3,359,000 cu. ft.; and 555 (45.9 per cent) were dry. Although the number of completions declined sharply, the total of 320 wildcats completed (26.4 per cent of all wells) repre-sents a decrease of only 2.7 per cent from the previous year's figure of 329. Of the wildcats drilled, 44 (13.8 per cent) were oil wells, 13 (4.0 per cent) were gas wells, and 263 (82.2 per cent) were recorded as failures. Reconditioning of wells throughout the state resulted in a total recompletion of 355 wells. Of these, 234 were oil wells with a combined initial production of 96,808 bbl., 32 were gas wells with a total initial of 381,488,000 cu. ft., and 89 were abandoned. None of the 26 pools found in 1942 has developed into a major discovery. The Pauls Valley pool, Garvin County, is the most outstanding. Since its discovery in April, 14 wells with an average initial of 1898 bbl. have produced 803,000 bbl. of 42' gravity oil from the Bromide zone. Development in this pool is believed to be almost completed. Other of the more important discoveries are the East Watchorn pool, Pawnee County; Guthrie Townsite and West Navina, Logan County; Brooksville and Macomb, Pottawatomie County, and the Liberty and Northeast Lucien discoveries in Noble county. The East Watchorn pool, at the close of the year, had 14 completed oil wells with an average initial of 989 bbl. from the Wilcox sand at 3930 it.; Guthrie Townsite, one well with an initial of 840 bbl. from dolomite at 5600 It.; West Navina, six wells with an average initial of 284 bbl. in the Lay ton sand at 5050 ft., Brooksville, eight wells in the Hunton at 4800 ft. with an average initial 01 355 bbl.; Macomb, one well with an initial of 160 bbl. in the IIunton at 4700 ft.; the Liberty pool, one well with an initial of 1268 bbl. in the second Wilcox at 4500 ft., and two wells in the Tonkawa sand at 2500 ft., with an average initial of 230 bbl. In the Northeast Lucien pool, four wells were completed in the Wilcox at 5380 ft. for an average initial of 1164 bbl., and one well was completed in the Viola lime at 5255 ft. for an initial of 55 barrels.

Jan 1, 1943

By Ta M. Li

How do you convert a copper-zinc resource into a viable economic mining operation? This problem, unlike most, was complicated by the additional presence of a sub-arctic climate, highest labor costs in the world, low-grade copper-zinc values, depressed market prices, and a complex mineralization.

Jan 12, 1977

Jan 1, 1924

By ALBERT C. RUBEL

RECENT developments in the use of the core barrel in rotary drilling have led to its wide application in all types of development. Its use is essential to the wild-catter and a valuable guide and check even in the most closely developed areas. A perfect core would be an unbroken sample of formation whose length is equal to the amount of hole made by the core barrel, whose diameter is great enough to show the lithologic character, texture and attitude of the material encountered, whose formation is so unaltered in character and so free of contamination from outside sources that it represents a true and complete sample of the formation penetrated. From such a core it would be possible to determine the lithologic character and economic importance of the formation, whether it is oil bearing or barren, the nature and attitude of the sands and shale bodies, valuable fossil evidence and other points which would assist in the correlation or in the selection of suitable points for water shut off or production.

Jan 1, 1924

By Christian F. Baiz

INTRODUCTION Industrial minerals can have similar financing requirements to those needs of metaliferrous and coal mining projects. One of the outstanding differences is the understanding of the many different markets that these industrial minerals represent. There are in excess of 30 principal industrial minerals ranging in terms of annual production from the largest quantity such as sand and gravel, to possibly the smallest quantity of production of a legitimate industrial mineral which may be defined as industrial and rough gem diamond. (See Tables 1 and 2) Project finance techniques, analytical methods, and information requirements are covered elsewhere in this Chapter and Chapter 10. Some comments on equity finance aspects follow. EQUITY AMOUNT The amount of equity in a financing transaction provides a cushion to the lender in case the project runs into trouble. Generally speaking, the greater the amount of risk in a project, the more equity a lender will require. The amount of cash equity in a project financing transaction is between 25 and 40 percent. The amount of leverage (debt/equity) is negotiable based on such factors as the strength and extent of the sponsor's undertakings, of the project's economics, and the term of a strong sales contract. Naturally, a borrower seeks to obtain d loan with as little equity required as can be negotiated. Zero percent equity is usually associated with a take-or-pay contract (a hell-or-high- water unconditional commitment under which the purchaser must pay for the commodity as though it were shipped regardless of whether it is actually mined or shipped) with a financially strong corporate entity i.e., the parent company or an end user. As a take-or-pay contract is tantamount to a guarantee of payment, the banker views the credit basis of the loan as being other than the borrower's mining operation and therefore will analyze the creditworthiness of the institution purchasing the commodity on the basis of its corporate balance sheet. Do not confuse a take-or-pay contract with a take-if- tendered or take-and-pay contract. Another means in the United States of obtaining zero percent equity is the carved out production payment financing, typical of coal mine financing. This involves the sale, or conveyance, by the owner of the mineral property of a production payment to a nominally capitalized company. The nominally capitalized company is formed solely to buy the production payment and usually borrows 100 percent of the purchase price from a lender. Equity amounts of 10 to 20 percent generally are found in transactions which employ techniques such as an advance sale or a subordinated lease/loan. These agreements are viewed as quasi equity by most banks for several reasons. First, the proceeds represent a cash infusion early in the project's life - usually prior to the bank lending any funds. Thus, the repayment schedule is "behind" that of the bank debt. In the case of an advance sale, repayment is in the form of a long-term supply contract with favorable terms, usually priced close to the mining operation's costs. There is also usually a requirement that all costs of the project be paid for by the loan or equity, often making the sponsors financially responsible for any cost overruns. Cost overruns are a major risk in any project, large or small, and are often due to unforeseen factors such as wildcat strikes, a piece of faulty equipment, or any event which delays completion, e.g., remote location, weather, etc.. . The question of how overruns are covered can be negotiated. For example, in addition to the original debt/equity ratio of the project, there can also be a cost overrun ratio that will

Jan 1, 1985

By Dozier Fircley

SOME nonmetallic minerals and their products, such as portland cement, common brick and hollow tile, sand, gravel, crushed rock, vitrified salt-glaze clay pipe, and the like, are a necessity in every community. They are mineral in nature but the establishment of plants for their production is usually a local and elementary problem. Yet it is probable that an economic study of the problem in every locality will show that such nonmetallic mineral commodities are not always obtained in the most economical way, or in the best quality. Other nonmetallic minerals are of such value that they may be shipped for long distances and sold in sufficient quantities to establish prosperous commercial ventures. Among these are phosphates, barium compounds, borates, nitrogen compounds, magnesium compounds, sulfur, asbestos, and potash. Success in marketing such products depends on quality, production cost, transportation, and similar conditions.

Jan 1, 1932

YEAR OF ELECTION 1913. FRANK DAWSON ADAMS, Montreal, Canada. 1921. WILLIAM CUTHBERT BLACKETT Sacriston, Durham, England. 1935. GUILLAUME DANIEL DELPRAT Melbourne, Vic., Aust. 1920. HENRY STURGIS DRINKER Merion Station, Pa. 1933. KARL EIKERS NEW YORK, N. Y. 1922. FEDERICO GIOLITTI Torino, Italy. 1906. SIR ROBERT A. HADFIELD London, England. 1928. JOHN HAYS HAMMOND New York, N. Y. 1921. FRANK WILLIAM HARBORD London, England. 1917. HERBERT HOOVER Washington, D. C. 1905. HENRI LECHATELIER Paris, France. 1931. WALDEMAR LINDGREN Cambridge, Mass. 1921. C. McDERMID London, England. 1913. EZEQUIEL ORDONEZ Mexico City, Mexico. 1935. ROBERT PEELE New York, N. Y. 1911. ROBERT H. RICHARDS Cambridge, Mass. 1934. T.A. RICKARD Victoria, B.C., Canada 1933. ALBERT SAUVER Cambridge, Mass.

Jan 1, 1936

[Trans. No. Place Date Vol. Page 1, Wilkes-Barre, Pa.* .... May, '71.. 1 3 2. Bethlehem, Pa Aug., '71.. 1 10 3 Troy, N. Y Nov.,'71.. 1 13 4. Philadelphia, Pa Feb., '72.. 1 17 6. New York, N. Y •.... May, '72.. 1 20 6. Pittsburgh, Pa..:.Oct., '72.. 1 25 7. Boston, Mass Feb., '73.. 1 28 8 Philadelphia, Pa.' May, '73.. 2 3 9. Easton, a Oct., '73.. 2 7 10. New York, N. Y Feb., '74.. 2 11 11. St. Louis, Mo.* May, '74.. 3 3 12. Hazleton. Pa Oct.. '74.. 38 13. New Haven, Conn Feb., '75.. 3 15 14. Dover, N. J.' May, '75.. 4 3 16. Cleveland, 0 Oct., '75.. 4 9] [ ]

Jan 1, 1925

By F. G. Smith

A few years ago, the writer encountered a problem that, at first, seemed to be due to peculiar conditions affecting grain growth. Large cups made from heavy metal failed in the first drawing operation in the process of making seamless tubes. The metal, as cast, appeared to be sound and strong; it rolled successfully and withstood the first cupping operation, but on the first draw it failed, with a crystalline fracture. The failure appeared in the slightly worked part of the bottom of the cup, and microscopic examination revealed exceptionally large grains. Knowing the general conditions governing recrystallization of brass, which were later published by Mathewson and Phillipsll an investigation was outlined with the idea of including various conditions under which new grains might form, and which would include the effect that a previous anneal might have upon the anneal following. These conditions were produced by annealing specimens of brass at five different temperatures, indenting them with a 10-mm. ball under four different pressures, and then reannealing at each of the five temperatures five specimens each of which had been annealed at one of the five temperatures. Preparation of Specimens The material used was cartridge brass 0.400 in. thick, having the following composition: Copper 66.60 per. cent., zinc 33.35 per cent., lead 0.02 per cent., iron 0.03 per cent. This was rolled with 35 per cent. reduction after a 700" C. anneal. Fig. 1 shows the structure of this original bar on which all subsequent anneals were made. Pieces 1 in. (2.5 cm.) wide and 3 in. long were prepared and annealed for 1/2 hr. at 450°, 550°, 650°, '750°, and 850" C. Each of these pieces are indented under the Brinell test with a 10-mm. ball at 500, 1000, 2000, and 3000 kg. pressure. Then, sets of five pieces from each of the original anneals were reannealed at 450°, 550°, 650°, 750°, and 850" C.

Jan 1, 1921

By Roshan B. Bhappu, Zeki M. Dogan

Two magnesite ores containing 3.15% and 8.73% SiO2 and a calcined magnesite product assaying 2.6% Si02 were first reduced in size to -20 mesh by roll crushing. 'They were then treated dry on a high intensity magnetic separator to reduce their silica content by rejecting iron-stained silicate minerals in the magnetic fraction and obtaining marketable magnesite or calcined magnesite as a nonmagnetic product.

Jan 1, 1975

By AIME AIME

IN accordance with the custom of recent years, the Institute joined with the Western Division of the American Mining Congress in holding a joint meeting at Joplin on Sept. 28, 29 and 30. Actually the meeting might be said to have begun on the 27th, since the Engineering Education Committee held two sessions on that day, which are reported on another page. In addition to these sessions there were informal gatherings in the Hotel Conner, which was the headquarters, on the golf links and elsewhere of all those who had arrived by Sunday morning. The technical sessions were formally opened on Monday morning by Robert E. Tally who, after suitable preliminary remarks, introduced A. Scott Thompson, of Miami, Okla. Mr. Thompson in welcoming the visitors to the Tri-State district said that it had come to be known as a poor man's country and at the present price of zinc did not find it difficult to live up to its name. He also referred to the work Mr. Tally had done for the stabilization of the mineral industry. H. Foster Bain, in responding to this address for the Institute, said that mining men generally felt at home in Joplin, that the solutions of their problems and the general practice that had been developed in the district were not only of great interest to them, but that visitors could learn much

Jan 1, 1931

PROF RICHARD ÅKERMAN Stockholm, Sweden ANDREW CARNEGIR New York, N.Y. PROF HANS HOEFER Leoben, Austria PROF HATON DE LA GOUPILLIERE Paris, France PROF HENRI LOUIS LE CHATELIER New York, N.Y. M FLORIS OSMOND Paris, France PROF DIMITRY CONSTANTIN TSCHERNOFF St Petersburg, Russia PROF DR HERMANN WEDDING Berlin, Germany

Jan 1, 1910

By J. W. Byrkit

Design features and operating methods at the new Ajo smelter are described in detail. Successful operation of a novel method of handling and charging wet concentrates to a deep bath type reverberatory furnace contribute to the daily production of 200 tons of anodes with good results from the standpoint of both metallurgy and economy. THE New Cornelia Branch of the Phelps Dodge Corp. is located at Ajo, Ariz. Large scale mining operations were started at Ajo in 1917, when a 5000 ton leaching plant was put in service to treat the copper carbonate ore that overlaid the sulphide ore-body. In 1924 a 5000 ton flotation plant was built to treat the sulphide ore and the leaching operation was abandoned a few years later. Changes in practice and additions to plant facilities have resulted in a gradual increase in the milling rate which now approaches 30,000 tons daily. Prior to the erection of the Ajo smelter, flotation concentrate was shipped by rail to Douglas, Ariz, where it was treated in the Phelps Dodge smelter. Construction of a one reverberatory furnace smelter to produce an average of about 200 tons per day of copper anodes at Ajo was started early in 1949. Initial heating of the reverberatory furnace was begun on June 21, 1950. Charging the furnace was started on july 8, and the first anodes were cast on July 14. Neither the anode furnace nor the reverberatory furnace has cooled since the initial firing. Fig. 1 is a photograph of the new smelter. Built primarily to eliminate the '300 mile haul of concentrate to the Douglas plant, the new smelter was designed to treat the Ajo concentrate, with a minimum of capital investment. A novel, and relatively simple, method of concentrate handling and furnace charging made unnecessary the installation and operation of expensive storage facilities and reclaiming equipment, and obviated the necessity of holding in storage large quantities of copper-bearing materials. (Patents are pending in the United States and abroad on the Ajo process.) In the selection and arrangement of equipment, consideration was given to the full utilization of all smelting facilities, reducing the amount of idle equipment to a minimum. The layout of the smelter is shown in Fig. 2. The important problem of internal transportation was minimized by arranging the reverberatory furnace, converters, and anode furnace in a compact group and providing storage bins inside the smelter building, within reach of overhead cranes, for fluxing materials and other supplies needed in the daily operation. This can be seen in the sectional view of the smelter given in Fig. 3. Incorporated in the design were many innovations in smelting equipment intended to facilitate operations and effect economies in maintenance expense and manpower requirements. Table I gives operating data of the entire plant. Metallurgy The metallurgical practice at Ajo is based essentially upon the use of a single, deep bath reverberatory furnace for smelting wet concentrate, without concentrate storage facilities. The large reservoir of slag and matte maintained in the furnace serves to equalize, to some extent, the day to day variations in the nature and grade of concentrate and permits

Jan 1, 1954

By P. H. Mell

THE little village, from which this formation receives its name, is situated on a bluff of the Alabama River, 175 feet above water level. This bluff is a portion of high table land that begins in the western portion of Choctaw and extends through Clarke and Monroe counties. We find points on this ridge more than 100 feet higher than Tuscaloosa, and nearly as high as the Tennessee River at Tuscumbia. Through this the Alabama River cuts its way, exposing a beautiful cross-section of the strata, of which the accompanying sketch may give some idea. The fossils are found about 75 feet below the surface and 100 feet above the level of the river. There are seven distinct strata. 1. The lowest, extending from the water's edge up the bluff 80 feet, is a soft calcareous rock containing about 15 per cent. of carbonate of lime, with occasional specks of mica. In this a few Ostrea, Turritellce, and Flustrce were found, but so friable as to fall to pieces when handled. 2. Next comes a stratum varying from 2 to 8 feet, consisting of

Jan 1, 1880

By Gordon S. Duncan

(New York Meeting, February, 1912 THE U. S. Geological Survey, I believe, has almost completed a study of the Harney Peak quadrangle, preliminary to the publication of a report on that, district. As I was engaged for some months on an investigation of the mode of occurrence of the ore-bearing formation in this area, it has seemed to me timely to make public the results of my study, as a contribution to the consideration of this subject. It seems scarcely necessary to describe the locality and general geology of the Black hills of South Dakota, for since 1846 many have contributed information concerning this region, some of the reports bearing such well-known names as those of Walter P. Jenney, Henry Newton, S. F. Emmons, and C. R. Van Hise, while we have only to glance at Bulletin No. 4 of the South Dakota School of Mines, in which Prof. C. C. O'Harra, of that institution, has given us a bibliography of contributions to the geography and geology of the section, to find that other well-known men have studied the district, and have given us the benefit of their researches. The U. S. Geological Survey has made geological maps of nearly the whole of the Black hills, the only quadrangle yet to be completed being, as stated, the Harney Peak district. During the late summer and autnmn of 1910, it was my lot to examine and report. on a considerable area in this neighborhood, which once had been prospected, and in some cases exploited, for tin. This paper gives an account of certain geological phenomena, noted at that time, which greatly influenced my conclnsions. The predominating formation of the district is pre-Cambrian, represented by a highly-cleaved mica-schist, usually very garnetiferous, and sometimes hornblendic. Rising like an island from the surrounding schist is a large mass of granite, known as

Jul 1, 1912

By Gilbert P. Moore

The production of petroleum in Argentina during 1932 was greater than in any preceding year. The total amount produced was 13,012,-756 bbl. This figure represents a decided increase in the production of oil in Argentina and can be attributed largely to the increased activities of the Royal Dutch operations at Kilometer 27 in the Comodoro Rivadavia district and those of the Standard Oil Co. of Argentina in the Salta region. Production from the Royal Dutch wells amounted to considerably more than 10,000 bbl. per day over quite a long period during the year. Of the 13,012,756 bbl. of oil produced during 1932, the Government Agency (Y. P. F.) was responsible for some 5,578,954 bbl., while 7,433,-802 bbl. were produced by private companies. Although in 1930 the Y. P. F. produced about 55 per cent of the total production and in 1930 50 per cent of the total, in 1932 its production had fallen to about 42 1/2 per cent of the total. This decrease in the proportion produced by the Y. P. F. was not due to a decrease in its production but to the decided increase in the production of private companies, particularly those two whose names are given above. One new discovery was recorded during the year. This was a well drilled by the Y. P. F. at Cacheuta in the province of Mendoza which came in pumping 80 bbl. of 15" gravity oil from a depth of 673 meters. This well was completed at approximately the same time that the provincial government of Mendoza granted a concession to the Y. P. F. and declared the whole province as a reserve in which no concessions may be granted for a period of 10 years. Under these conditions, the federally operated Y. P. F. will have no competition in the Cacheuta area from private companies such as they have in the other three fields of the republic. The Y. P. F. wildcat west of Comodoro Rivadavia at Pampa Maria Santissima on the Rio Senguerr was completed as a dry hole during 1932. This we11 was reported as a producer in 1930 by persons returning to this country from Argentina but it appears that they had been misinformed. The site of this test has been abandoned and a new location made north of the Rio Senguerr.

Jan 1, 1933