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[PRESIDENT AND DIRECTOR H. G. MOULTON3 NEW YORK, N. Y. PAST PRESIDENTS AND DIRECTORS - D. C. JACKLING1 SAN FRANCISCO, CALIF. DONALD B. GILLIES2 CLEVELAND, OHIO TREASURER AND DIRECTOR KARL EILERS3 SEA. CLIFF, N. Y.]

Jan 1, 1940

By J. R. Stone, G. D. Storm

Design features and operating methods of ASARCO's new unit for the continuous melting and casting of tough pitch copper at Perth Amboy are described. Preliminary studies made for determinitzg economic feasibility and design details are also presented. Cathodes are preheated with oil and melted in an electric furnace at 40-ton per hr rate, from whence the molten copper is fed simultaneously to the wire bar casting wheel and the continuous casting of cakes and billets. In the early 1950's the copper refining furnaces at ASARCO's Perth Amboy plant reached a point where major expenditures would have to be made for replacement of the furnaces and the auxiliary equipment. The problem was whether to continue with the standard reverberatory furnaces or to consider continuous melting in electric furnaces. Reverberatory furnaces have been used for years in the copper industry and for some 50 years at the Perth Amboy plant. Reverberatory melting practice, however, imposes certain restrictions. First, labor costs are high, usually requiring three shifts per day. Secondly, they operate on a batch basis, the conventional operation being a 24-hr cycle including

Jan 1, 1961

By S. A. LoPilato, J. T. Smith

SEVERAL techniques have been evaluated for cooling the throat area of rocket-nozzle inserts to prevent erosion or fracture of the inserts during exposure to high operating temperatures and pressures. Self-cooled composites, such as infiltrated tungsten, have shown considerable promise for these applications. These composites can be fabricated by infiltrating the refractory matrix with a lower-melting metal or non-metal which is insoluable in tungsten. During firing, the lower-melting substance undergoes a series of continuous endothermic phase changes which absorb sufficient heat to maintain the nozzle matrix material at or below a safe operating temperature. At present, the state-of-the-art has reached a point where the refractory matrix density and microstruc-ture have been established as the critical parameters to be controlled for optimum self-cooled performance.'" Nondestructive testing has been utilized to ensure that porous tungsten billets were of uniform density and free from cracks or other defects prior to fabrication into rocket nozzle inserts. Ultrasonic-velocity techniques have been employed because of their reliability and reproducibility. The purpose of this note is to present and interpret the test data developed for porous tungsten matrices. For evaluation purposes, tungsten powders with Fisher subsieve sizes of approximately 4 and 18 p have been obtained for study from four commercial sources: the General Electric Co., Wah Chang Corp., Fansteel Metallurgical Corp., and Kennametal, Inc. Porous tungsten matrices were fabricated from the powders by hot pressing in induction-heated graphite die assemblies. Typical billets ranged from 3 in. diam, 2 in, high to 5 in. diam, 5 in. high. The ultrasonic-velocity measurement technique employed was through transmission, pulse echo at a frequency of 1.0 mc using matched barium titanate crystal transducers. The testing equipment included a pulsed ultrasonic generator, an amplifier, a specimen holder, and an oscilloscope, as shown in Fig. 1. The porous tungsten thickness was measured to i 0.0005 in, with precision micrometers while the oscilloscope achieved 0.02 psec time measurement accuracy. The time for a sound wave to pass through the billet, the bulk wave velocity, was calculated to 0.5 pct using Eq. [l]: V-} where V = bulk wave velocity, in. per psec, T = specimen thickness, in., and / = time, psec. To develop inspection standards, the bulk density of a porous tungsten billet was determined by the ASTM water-immersion technique.3 The ultrasonic-velocity measurements were completed at seventeen positions for each billet and averaged to develop a characteristic standard velocity for a particular tungsten powder at several density levels. A plot of ultrasonic velocity vs density is presented in Fig. 2 for six different tungsten powders. This graph has been established as

Jan 1, 1967

By Enrique Hauser

FiRE-damp is a mixture of methane with other inert gases or combustible gases. The inert gases in question are carbonic acid, water vapor, nitrogen, etc. The combustible gases are hydrogen, ethane, etc. The study of the properties of fire-damp, therefore, becomes a study of the properties of methane and the influence on its properties of the different gases we have mentioned. Characteristic Properties of Methane 1. Respirability.—Methane being a paraffin is characterized by its weak chemical affinities. Prom the physiological point of view one could substitute it for nitrogen of the air at least momentarily, without experiencing any difficulty in breathing the mixture consisting of 21 per cent. 02 + 79 per cent. CHI. I have tried this on myself, making the gas exhaled from the lungs burn subsequently in a Bunsen burner.' From the chemical point of view, this weak affinity permits the gas to be burned in certain circumstances with hydrogen and oxide of carbon in an oxygenated mixture, with the result that the last two gases achieve only a fractional combustion. This practice has been utilized with success in the methods of analysis which I have perfected and which I describe later in this paper. 2. Retardation of Flashing Point.—A characteristic property of methane is its retardation of flashing point, noted by Davy in 1816 and studied by Mallard and Le Chatelier in 1883.2 Taffanel and Le Floch have recently confirmed these results.8 Let us recall the nature of this retardation: When a mixture of combustible gases with air or with oxygen is

Jan 1, 1916

By B. C. H. Steele, C. B. Alcock

In choosing solid oxide electrolytes for use in the measurement of thermodynamic quantities at high temperatures, the two most important criteria are the values of the partial ionic and electronic conduc tizities. Measurements of these conducticities have been made for some Group IVA oxides and solid solutions of these oxides with CaO, Y2O3, and La2O3. The total conductivities as a function of temperature. oxygen partial pressure, and composition were determined, as well as the electromotive forces of cells in which the oxygen partial Pressures of the electrodes were between 10-7 and 10-29 atm at 1000°C. Additional factors that influence the experimental arrangements, such as the operating temperature, the appropviate cell atmosphere, and electrode kinetics, are also discussed. IT has long been recognized that galvanic cells incorporating solid electrolytes can possess many advantages for the measurement of high-temperature thermodynamic data. Unfortunately, the electrical-transport properties have only been established for a few solid electrolytes, although attempts have been made, and are still being made, to use such materials as porcelain' and magnesia.' Kuikkola and Wagner have discussed3 and demonstrated4 various applications of solid electrolytes, and, in particular, their work stimulated the electrochemical measurement of oxygen activities using cells incorporating the solid oxide electrolyte, Zr0.85Ca0.15O1.85 The excellent characteristics of this oxide electrolyte have been confirmed by the investigations of Kingery et al.5 (oxygen ion diffusion), Carter and Rhodes6 (zirconium and calcium ion diffusion), and Weissbart and Ruka7 (electronic transference number). However the observations of Peters and Mobius,8 later confirmed by Schmalzried,9 indicated that the electronic component of zirconia-based electrolytes could become significant at low oxygen chemical potentials. Under these conditions, thoria-based electrolytes have obvious advantages arising from their superior thermodynamic stability. It was known that certain thoria solid solutions possessed defect fluorite structures containing anionic vacancies (cf. Zro.85Cao.l50O1. 85), although data on their electrical properties were conflicting. Kiukkola and wagner4 concluded that thoria-based electrolytes exhibited appreciable electronic conductivity, whereas Peters and Mobius8 mentioned that the electronic conductivity only became important at high oxygen partial pressures, but gave no further details. In addition, both Kiukkola and wagner4 and Peters and Mann'" had determined the oxygen chemical potentials associated with the Fe-FeO, Co-COO, Ni-NiO, and Cu-Cu2O equilibria, and it was not known whether discrepancies in their results could be attributed to the different cell design, or the thoria-based electrolyte used by Peters and Mann. These uncertainties have been resolved during the present investigation into the measurement of low oxygen chemical potentials, and transport properties of the relevant oxide electrolytes are presented and discussed. Other experimental difficulties associated with low oxygen chemical potential measurements are also described, with particular reference to the Nb-O system. 1. THEORETICAL CONSIDERATIONS Oxide systems of potential use as solid electrolytes possess a large energy gap between the valence and conduction bands. Little is known about the defects present in these wide-gap metal oxides as a function of impurity content and deviations from stoichiom-etry, or the mechanisms by which electronic charges move in these solids. For these materials it is convenient to represent the measured conductivity as the the sum of three terms: where a, is the conductivity due to positive hole conduction (p type), and oe is the electronic conductivity due to electron conduction (n type). U there is a large concentration of ionic vacancies fixed by composition then the ionic contribution will not be a function of oxygen pressure. Although the possibility of a pressure-independent electronic component also cannot be ignored, it is likely that such a term would only become significant at very high temperatures, and in general the positive hole conduction will increase with increasing oxygen pressure, and the electron conduction will increase with decreasing oxygen pressure. It follows that the total conductivity is related to oxygen partial pressure as follows:

Jan 1, 1965

By Arthur E. Focke

IF a metallurgist employed in an industry producing mechanical parts or assemblies wishes to make the most of his opportunities he will be concerned with every use of metals in that industry. He will not only take part in the testing and treating of the metals used but will assist in their selection and study their behavior in processing and in service. In addition, he will attempt to develop an understanding of the problems involved in the use of the metals in all plant tools and equipment. Metallurgists that follow this course will soon recognize that frequently too little thought is given to the effect of the design of parts on the way the metal in them is expected to behave in service. He will come to realize that changes in the design of a part will often be much more useful than changes in the hardness, strength, composition, or structure of the metals used in them. Does this mean that a metallurgist is out of place in these industries and that he should leave the field to others or be content to fill only a minor role?

Jan 1, 1947

By R. S. Archer

THE name molybdena was employed by Pliny to denote various substances resembling lead. Later this name was applied to galena-the naturally occurring sulfide of lead-or substances of similar appearance. By the middle of the eighteenth century, it was applied to graphite and to the mineral sulfide of molybdenum (MoS2) now called molybdenite. This confusion is quite understand- able inasmuch as these substances look and feel very much alike. In 1778, the Swedish chemist Scheele published a treatise in which he pointed out essential differences between graphite and molybdenite. On treatment with nitric acid, molybdenite, unlike graphite, produced a peculiar white earth with acidic properties which he called molybdic acid. Since the same mineral gave off sulfurous fumes on heating, he concluded that it was a sulfide of molybdenum. In 1790, there appeared an account of the isolation by P. J. Hjelm of the new element molybdenum, as a metallic powder, by heating the oxide with carbon. It was not until Bertelius conducted the necessary experiments, about 1818 to 1825, that the foundation of the chemistry of molybdenum was laid. The only recorded use of molybdenum during the first century after its isolation was as a chemical reagent, primarily for the determination of phosphorus. It was not until the last decade of the nineteenth century that the use of molybdenum in steel appears to have been investigated. A

Jan 1, 1953

By L. A. Roe, John Jan

Iodine is a soft, lustrous, grayish-black nonmetallic element with a density of 4.9. It is the least active of the four members of the halogen family. The other members are, in order of increasing activity, bromine, chlorine, and fluorine. Iodine is a solid at ordinary temperatures, while bromine is a liquid and chlorine and fluorine are gases. Iodine melts at 113°C and volatilizes at 184.4°C to a blue-violet gas with an irritating odor. It occurs in nature only as iodates and iodides or other combined forms. It was discovered by Bernard Courtois in France in 1811, who noticed its presence as an unknown substance in crude soda ash obtained from burning seaweed. Gay-Lussac recognized it as a new element and named it iode, from the Greek word "ioeides or iodes" for violet color (MacMillan, 1970). The world production is not known with any great certainty, but it is probably between 25 and 35 million lb per year, of which about 30% is consumed in the United States. Geology and Mineralogy Iodine compounds occur as a minor constituent as a mineral in the Chilean nitrate deposits and in solution in brines and seawater. According to the US Geological Survey, it is the 47th most abundant element in the earth's crust. The minerals lautarite, Ca (I03)3 (calcium iodate), and dietzeite, Cat (103)2 (CrO4), (calcium iodate-chromate) are found in Chilean nitrate deposits which are located in Antofagasta and Tarapaca provinces on the eastern slope of the coast range in a desert area. Various brines contain iodine compounds. Seawater contains about 0.05 ppm of iodine and some seaweeds will extract and accumulate it up to 0.45% on a dry basis. Some coals in West Germany also contain iodine compounds. The known and potential sources of iodine reported in 1968 are given in Table 1. Table 2 lists estimated world iodine reserves. Iodine has been recovered from brines in Java, Indonesia, France, England, and the USSR. Iodine has also been recovered from seaweed in Ireland, Scotland, France, Japan, Norway, and the USSR. The indicated reserves and future resources of iodine are large but have never been adequately measured. Analysis Iodine as the free element can be detected by the characteristic blue color it gives to a starch solution. Quantitatively it is determined as the free element by titration with standard thiosulfate solutions using starch as an indicator. Colorimetric methods are also applicable. Markets and Prices Iodine and its compounds are generally marketed in the form of: iodine, crude; iodine, resublimed; calcium iodates; calcium iodide; potassium iodide, sodium iodide, and numerous organic compounds. Product Specifications Crude iodine, World market: 99-99.5% 12. Crude iodine, US produced, average: 99.8% 12. Crude iodine, USP XVII Specs: not less than 99.8% percent I2. Resublimed iodine is usually 99.9% and ACS specifications call for not over 0.005% total bromine and 0.020% nonvolatile materials (Anon., 1971). Prices, c.i.f. United States, for iodine have been steadily increasing from $1.18 per lb of crude in 1967 to $6.37-7.27 in January 1981 (Anon., 1981). In 1980 the price of iodine increased by 50%.

Jan 1, 1983

By R. F. Sheldon

Largest uranium deposit in the Northwest is Dawn Mining Co.'s Midnite mine on the Spokane Indian Reservation. The orebodies lie along the contact of granite and metamorphosed sedimentary rock and are controlled by faults and shear zones near the granite contact. In the oxidized zone the deposits consist mainly of the secondary uranium mineral meta-autunite; sooty uraninite and primary uranium minerals are known to occur at greater depths. Elevations in the mine area range from 2500 to 3500 ft. The rolling hills and low, rounded mountains are covered with grass and evergreen trees. HISTORY AND DEVELOPMENT Original showings were discovered with a geiger counter in the spring of 1954 by prospectors Jim and John LeBret. High radioactivity in several schist outcrops was found due to scaly coatings of a greenish-yellow, fluorescent mineral, later identified as meta-autunite. Prior to this time autunite was not known to occur in the state of Washington, and no significant uranium deposits had been found in the Pacific Northwest. Outcrops in the area were few, and most of the ground was mantled with 2 to 10 ft of overburden, but three other radioactive zones were discovered by prospecting the ridge southward along the strike of the schist near its contact with granite for three quarters of a mile. Midnite Mines Inc. was formed

Jan 1, 1960

By S. Sumski, M. B. Panish, R. T. Lynch

The liquidus isotherms in the gallium-rich corner of the Ga-Al-P phase diagram have been determined from 1000" to 1200°C and at I100°C the corresponding solidus isotherm was obtained. A simple thermody-namic treatment which permits calculation of the solidus and liquidus isotherms is discussed. A technique which was previously used for the growth of GaxAl1-xAs was used for the preparation of solution epitaxial layers of GaxAl1-xP and ALP. An approximate value of 2.49 i 0.05 ev for the band gap of Alp at 300°K was obtained and the ternary phase data were used to estimate a value of 36 kcal per mole for the heat of formation 0f Alp at that temperature. The Gap-A1P crystalline solid solution is one in which there exists the possibility of obtaining crystals with selected energy gaps, within the limits imposed by the energy gaps of Gap and Alp. Such crystals are of considerable interest because of their potential value for optoelectronic and other solid-state devices. Furthermore, it has been amply demonstrated for GaAs and GaP,'-7 that device, or bulk materials grown from gallium solution generally have more efficient radiative recombination than materials prepared in other ways. This presumably due to the lower gallium vacancy concentration in such material.= Small crystals of GaXAl1-xP and A1P have been grown from solution,8-10 and A1P has been grown from the vapor," but neither have previously been grown by liquid epitaxy. In this paper we present the ternary liquidus-solidus phase diagram of the Ga-A1-P system in the region of primary interest for solution epitaxy, and discuss the thermodynamic implications of that phase diagram with particular reference to the liquidus and solidus isotherms in the gallium-rich corner of the GaxAl1-xP primary phase field and to the A1-P system. Several measurements of the absorption edge of GaxAl1-xP crystals have been made and the width of the forbidden gap of A1P has been estimated from these measurements. EXPERIMENTAL The differential thermal analysis technique used to determine the liquidus isotherms and the optical measurements used in this work are similar to those described previously12 for the Ga-Al-As system, ex- thermocouples in the thermopile for added sensitivity. The materials used were semiconductor grade Ga, Gap, and Al+ The composition and temperature range at which DTA studies could be done was quite restricted. The upper temperature was limited by the chrome l-alumel thermopile to about 1200°C, and the highest aluminum concentration to about 5 at. pct by low sensitivity caused by the reduced solubility of Gap with increasing aluminum concentration in the liquid. DTA studies were not possible at 1000°C and below because of the low sensitivity caused by low solubility of Gap in the Ga-A1-P system. The cooling rate for these studies was about 1°C per min. No heating studies were done because of limited sensitivity. Supercooling probably does occur, but our experience with other 111-V systems indicates that it is no greater than about 10 to 15.c. Solid solubilities were determined by analyzing epitaxial layers of GaxAl1-xP grown from the liquid, with an electron beam microprobe. The layers were grown on Gap seeds by a tipping technique in which the layer is grown over a short-temperature range (20" to 50°C) on the seed from a solution of known composition. The tipping technique reported by Nelsson1 for GaAs could not be used, particularly for solutions containing appreciable amounts of aluminum, because of the formation of an A1203 scum on the liquid surface. A system was therefore designed, which would effectively remove the oxides mechanically, so that uniform wetting and crystal growth could occur. This tipping technique has already been described in detail." The best control over the composition of the re-grown layer was obtained when the tipping was done at a temperature which corresponded to the temperature of first formation of solid for the solution being used. Generally, therefore, a solution was prepared by adding the amounts of Ga, Gap, and A1 required to yield a solution which would be completely liquid above the tipping temperature with solid precipitating below that temperature. For most of the work reported here, the 1100°C isotherm of the ternary was used. It was generally necessary to heat the solution to 50" to l00. C above the tipping temperature to dissolve all of the Gap in a reasonable length of time. The epitaxially grown layers were used both for optical transmission measurements to aid in the estimation of the way in which the absorption edge changed with aluminum concentration, and for the electron beam microprobe analyses to provide data for the determination of the solid solubility isotherm. RESULTS AND DISCUSSION Liquidus Isotherms in the Ga-A1-P Ternary Phase Diagram: Thermodynamic properties of the system. The only thermal effect studied in this work was that

Jan 1, 1970

By E. M. Kalar, I. Iwasaki, J. D. Zetterstrom

Several methods of removing fatty acid coatings from iron ore flotation concentrates were tested both on a Mesabi oxidized iron ore and on a magnetic taconite concentrate, and their effects on the duplex flotation process and on pelletizing were compared. Either acid or alkali alone could not remove the coatings, but a combination of such reagents as lime and quebracho, calcium chloride and pyrophosphate, or sulfuric acid and an organic acid (oxalic, malonic, or citric acid) was quite effective. The use of activated carbon was found to be particularly promising. The removal of fatty acid coatings from iron ores is of much practical interest when a pelletizing process is being considered for a concentrate floated with a fatty acid collector or when a duplex flotation process is being considered for upgrading an oxidized iron ore. A duplex flotation process is a fatty acid flotation of iron minerals followed by an amine flotation of the siliceous gangue from the rougher iron concentrate. Such a process is being used in the Florida phosphate fields.' Although in northern Michigan mills fatty acid flotation concentrates have been pelletized successfully, at other locations fatty acid coatings on iron flotation concentrates have proved so undesirable in the agglomeration operation that other methods of concentration had to be sought.' Since fatty acid coatings cannot be removed as readily with a simple acid or alkali treatment from iron oxide surfaces as from Florida phosphates, a combination of reagents, such as lime and quebracho,3 lime and alkali phosphate,4 or sulfuric acid and oxalic acid,' has been proposed. It was also thought that activated carbon might be effective in removing fatty acid coatings due to its high adsorptive capacity. Activated carbon, with its enormous surface per unit of volume, is well known for its exceptional efficiency in removing organic pollutants from industrial effluents. This article presents the practical aspects of the above methods when they are applied to the duplex flotation process and to the pelletizing of iron flotation concentrates. The article also includes a preliminary investigation of the common parameters involved in the depressant activity of the reagents. EXPERIMENTAL WORK Initially, the experimental work was directed towards the optimization of each method for the removal of hydrophobic coatings from iron oxide surfaces floated with fatty acids. Subsequently, the methods thus optimized were tested in the duplex flotation process with an oxidized iron ore and in the pelletizing process with a magnetic taconite concentrate. Preliminary Flotation Tests: Although the three types of chemical treatment reported in the literature were briefly investigated for the purpose of comparison, major emphasis was placed during the preliminary flotation tests on the use of activated carbon because it was thought to have certain advantages over the chemical methods. LIME AND QUEBRACHO - To obtain a flotation concentrate for optimizing the lime and quebracho method of fatty acid removal, the magnetic taconite concentrate was used. The concentrate had a size consist of 90% passing 325 mesh and analyzed 64.5% iron. After a few preliminary tests the fatty acid flotation procedure with the magnetic taconite concentrate was standardized as follows. A 1200-g sample of the magnetic concentrate was pulped in a Fagergren laboratoy flotation cell to 40% solids, conditioned with 0.5 lb of soda ash per ton for 2 min, and then further conditioned with 1.0 lb of Acintol FA-2 per ton for 2 min. After 5 min of flotation, recovery was nearly complete, averaging 98.6% of the weight and 98.7% of the iron. The cell product, which amounted to 1.4% by weight and analyzed 63.2% iron, consisted mainly of relatively coarse middling particles. Since the repro-ducibility of the flotation concentrates produced by this procedure was vey high, the same procedure was used to prepare fatty acid concentrates for each of the six tests of the lime and quebracho method. To test the removal of the fatty acid from the magnetite surfaces by the lime and quebracho method, a fatty acid froth product was returned to the flotation cell, repulped by 30 sec of agitation, and then con-

Jan 1, 1968

For many years it has been known that large bodies of iron ore existed in Iron and Washington counties in Utah. The ore is chiefly hematite-both hard and soft-though some magnetite is found. No definite and complete estimate of the iron ore reserves of the state have been made. The U. S. Geological Survey estimated that 40,000,000 tons of ore were disclosed by development work averaging only 35 feet below the surface of the ore. The ore is found along an area about one and a half miles wide by twenty miles long, and for the most part on the eastern and southern slopes or foothills of Three Peaks. Granite Mountain and Iron Mountain. Later estimates by others have gone as high as ore in sight 164,000,000 tons, probable ore 300,000,000 tons and possible ore 1,000,000,000 tons. Whether this last estimate is too great or not there is sufficient iron ore in Utah to justify the starting of an iron industry. Two companies are now mining iron ore in Utah, the Columbia Steel Corporation and the Utah Iron Corporation. The mine of the Columbia Steel Corporation is at Iron Springs a few miles west of Cedar City. About 650 tons, of ore a day is being shipped to the blast furnace at Ironton. The ore is mined by the glory hole method. After being drilled it is blasted to the bottom of the several glory holes and is dropped through chutes into cars on the ore haulage level below. It is then hauled by electric locomotives to the crushing plant, where it is crushed to blast furnace size before going to storage bins. Some of the softer ore is brought to the chutes by Fresno scrapers.

Jan 1, 1925

By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today's environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

By J. W. Whalen

The design, operation and evaluation of an instrumental method for the determination of fluid saturation in porous materials during multiphase flow studies is described. The presence of a magnetic tracer comprising approximately 20 per cent by weight of the aqueous phase is necessary in the utilization of this method. The results of two-phase relative permeability studies on two samples of porous media are presented. The realizable accuracy of the magnetic susceptibility apparatus in fluid saturation determination is estimated to be 2 saturation per cent. The response characteristics of the instrument, together with its simplicity of operation and maintenance are sufficient to recommend its use in routine laboratory studies. INTRODUCTION The problem of fluid saturation determination in laboratory multiphase flow studies characterizing oil recovery processes is one which has been given exhaustive study. Briefly the requirements which are considered essential for a method sewing this purpose are: (1) that the measurement be made external to the porous rock sample under study with no interruption of the fluid flow pattern, (2) the saturation indication must be independent of fluid distribution in the volume scanned by the measuring device, (3) the sensing element should have a small field of definition enabling several independent measurements to be made along the length of a core sample, and (4) the properties of the fluid phases should not be too greatly influenced by required tracer substances. Several methods of saturation determination have found acceptance as meeting most of the above requirements. These include resistivity,1 X-Ray absorption,2,3,4 radiotracers,5,6,7 and neutron8 diffraction The merits of these techniques have been discussed elsewhere in detail and will not be considered here. It may, however. be pointed out that the elaborate instrumentation required by the methods mentioned above, with the exception of the resistivity method (which is undesirable from other standpoints) encourages the development of methods of saturation determination which, while meeting the requirements listed, are simple to operate and maintain. It is the purpose of this paper to describe the instrumentation and evaluation of a technique for the determination of fluid saturation which combines relative simplicity with an accuracy and applicability comparable with methods now in practice. DESCRIPTION OF THE METHOD If the magnetic susceptibility of one of the fluid phases contained within a porous material is sufficiently greater than that of the remaining phases, the fluid content of the material with respect to that phase may be determined by an induction measurement. This may be accomplished by measuring the induced voltage in the secondary of a transformer which contains the porous sample and its interstitial fluids as a portion of the magnetic flux path. Since the fluids used in multiphase flow studies involving petroleum reservoir samples possess uniformly low magnetic susceptibilities, the use of a magnetic tracer in one of the fluid phases is required. In view of the relatively high paramagnetic susceptibility of salts of the transition elements, together with their high water solubility. these compounds become logical choices as tracer materials. Cobaltous chloride, having a specific magnetic susceptibility of 17.5 x 106 cgs electromagnetic units, was used as the tracer material throughout this work, in a concentration of approximately 20 per cent by weight in the aqueous phase. MAGNETIC SUSCEPTIBILITY APPARATUS Basically, the magnetic susceptibility apparatus consists of a transformer serving as the detecting head, a

Jan 1, 1955

By G. H. Tausch, J. R. Dublin, T. A. Huber

Simplified equipment and techniques have been developed to permit cementing a completion interval in a well and recompleting higher, lower, or at the same depth in such a manner as to: 1. Eliminate the need for a conventional drilling or workover rig. 2. Eliminate mud and other cement contaminants which have long interferred with ideal cementing. 3. Eliminate need for drilling out cement. 4. Provide a more satisfactory recompletion. 5. Provide a more economical recompletion. This technique involves the use of a small-diameter, lightweight, tubing extension which is run on a wireline and set in a landing nipple previously installed in the tubing string. Low squeeze pressure and small cement volumes, with their attendant cost reduction, are successfully used when wells are completed and reworked with salt water or other penetrating fluids. Relatively low-water-loss cement is an integral component of the technique which provides that excess cement be reverse-circulated from the well to leave the casing void of cement when recompleting lower or in the same interval. Substantial cost reductions are realized by using the simplified or low-pressure cementing technique, and the ratio of successful squeeze-cement operations has been increased. Squeeze-cementing or recementing is the act of filling a channel behind casing or filling holes purposely placed in the casing. To obtain a satisfactory squeeze-cement job, it is necessary only to fill the channel or the perforation holes with a cement filter cake and to allow it to harden in that position. In the past, the presence of mud in a well has been considered the chief deterrent to obtaining a good cement bond and satisfactory cement job; however, late developments in squeeze-cementing have made it possible to eliminate cement contamination or interference. Since it is possible to form a cement filter cake with a small pressure differential, squeeze-cementing with high pressures may not be necessary in most cases. The amount of cement needed to fill the annulus about the casing and even to fill part of the casing, if necessary, is generally small in quantity. Use of low squeeze-cementing pressures and small quantities of cement provides the following advantages: 1. Longer effective life of well tubing, casing, and other equipment; and less chance of costly equipment failure due to excessive pressure. 2. Monetary savings effected by elimination of retainers and specal squeeze-cementing tools. 3. Monetary savings effected by use of small quantities of cement and fewer squeeze-cementing operations. 4. Future surface squeeze-cementing equipment may be smaller and more economical to operate and maintain.

Jan 1, 1955

"For many years it has been known that large bodies of iron ore existed in Iron and Washington counties in Utah. The ore is chiefly hematite—both hard and soft—though some magnetite is found. No definite and complete estimate of the iron ore reserves of the state have been made. The U. S. Geological Survey estimated that 40,000,000 tons of ore were disclosed by development work averaging only 35 feet below the surface of the ore. The ore is found along an area about one and a half miles wide by twenty miles long, and for the most part on the eastern and southern slopes or foothills of Three Peaks, Granite Mountain and Iron Mountain. Later estimates by others have gone as high as ore in sight 164,000,000 tons, probable ore 300,000,000 tons and possible ore 1,000,000,000 tons. Whether this last estimate is too great or not there is sufficient iron ore in Utah to justify the starting of an iron industry.Two companies are now mining iron ore in Utah, the Columbia Steel Corporation and the Utah Iron Corporation. The mine of the Columbia Steel Corporation is at Iron Springs a few miles west of Cedar City. About 650 tons, of ore a day is being shipped to the blast furnace at Ironton. The ore is mined by the glory hole method. After being drilled it is blasted to the bottom of the several glory holes and is dropped through chutes into cars on the ore haulage level below. It is then hauled by electric locomotives to the crushing plant, where it is crushed to blast furnace size before going to storage bins. Some of the softer ore is brought to the chutes by Fresno scrapers."

Jan 1, 1925

By A. G. Willard

Quantification of size, shape and composition has been one of the more difficult areas for those concerned with fine particle processing of coal.' Image analysers fed by optical microscopes and by scanning electron microscopes possessing backscatter detectors and energy dispersive facilities now offer techniques to improve the speed and precision of previous methods. This paper discusses the methodology and procedural difficulties associated with the microanalysis of coal. Photographs show display quality on the image analyser monitor and the equipment mentioned. Data illustrating several of the procedures are included. The major portion of data for design and operation of plant for fine particle processing depends on information regarding size, shape and composition of granular material. The lower limits of particle sizes become more important as lower grade deposits are mined. Because of the trends towards treatment of finer materials, the use of image analysis offers advantages in time, effort and accuracy. As energy becomes more critical, the above applies especially to coal processing. The Zeiss Microvideomat 2, a leading member of the second generation instruments, is now available for image analysis. There is a precision television scanning system with monochrome camera, display, control panel and central processor (see Figure 1).

Jan 1, 1980

By Eckley B. Coxe

(WITH FIGURES ON PLATES II, III, AND IV.) I DESIRE to call the attention of the Institute to two deep vertical shafts, which are now being sunk in Schuylkill County, Pennsyl¬vania, about 1 1/2 miles north of Pottsville. These shafts are of interest to the mining engineer, not only on account of the novelty of the method of sinking adopted, which promises to produce a revolution in that branch of mining engineering, but also as examples of the manner in which such work should be undertaken. GEOLOGICAL SKETCH OF THE TERRITORY TO BE WORKED BY THE SHAFTS AND REASON FOR SINKING THEM. The Mammoth or E Vein of the anthracite coal-measures in that part of the Schuylkill region near and north of the town of Pottsville lies at a great depth below the surface, and has, in consequence, never been worked in that locality.

Jan 1, 1873

By Yeatman, Pope

FOR many years geologists have felt that mining companies should adopt a more liberal policy in the publication of their reports. The increasing usefulness of the geologist to the mining profession in recent years demands that consideration be given to this question. Prior to 1900, the call for geologists of high reputation by mining companies was probably mainly in connection with lawsuits arising from the interpretation of rights or ownership as defined by the "Law of the Apex," and from problems such as finding the continuation of the vein or whether the vein followed was the main one or a branch. Later, outside of legal questions, the most intensive and general use of their services arose from the search for oil. Geologists to determine the position of the formations

Jan 1, 1938

By B. H. Caudle, R. L. Slobod, E. R. Brownscombe

An earlier publication has discussed three methods lor obtaining relative permeability data on small core sample-: and the apparatus and technique for the capillary pressure displacement method. This paper describes the apparatus and technique for the solution gas and the dynamic displacement methods and presents a routine procedure for obtaining oil-gas and water-oil relative permeability data. Theoretical and experimental considerations are presented to show that the end effect commonly associated with the dynamic flow mechanism is extremely small where constant rates are employed in the flowing phase. An effect of flow rate on relative permeabilities obtained by the dynamic system is found only when gas is one of the flowing phases and this effect is ascribed to a form of channeling in the capillary system. The apparatus and procedure* used to obtain relative permeability data with three phases flowing are described and some preliminary results of the use of this method are shown. INTRODUCTION In a previous publication from this laboratory there appeared a brief discussion of the concepts behind three basic methods for obtaining relative permeability data.' These three methods were called the capillary pressure displacement method. the solution gas displacement method, and the dy. namic displacement method — the names being suggestive of the type of process used for obtaining the desired saturation prior to making the permeability measurements. In the same publication, the apparatus and technique for the capillary pressure displacement method were described and some typical results obtained by this method were presented. This paper will present: 1. The routine procedure used to obtain complete relative permeabilitv data (In small core samples with two phasec flowing; 2. The experimental techniques for the solution gas and dynamic displacement methods for obtaining relative permeability data; 3. The results of some studies on the mechanism of fluid flow through consolidated porous media; and, 4. The preliminary results on the determination of relative permeability for a system in which three phases are flowing. TECHNIQUE AND APPARATUS FOR THE DETERMINATION OF RELATIVE PERMEABILITY WITH TWO PHASES FLOWING In order to obtain relative permeability data on a small core sample which will describe the various phases of reservoir depletion. it is necessary that the methods used duplicate, as closely as possible, the various mechanisms involved in rescbrvoir depletion. It is important that. in any type of relative permedbility determination. the core be originally at virgin reservoir conditions with respect to the fluids within the pore *paces. (for example. oil used to displace water from core until connate water saturation estahlished). and that the subsequent saturation changes in the core be analagous to tile reservoir depletion mechanism for which the data are to he used. PROCEDURE OF DETERMINING RELATIVE PERMEABILITY DATA WITH TWO PHASES FLOWING A standardized procedure has been set up for obtaining relative permeability data and other information on small core samples. This procedure essentially consists of 11 steps as shown below: 1. Determination of tile capillary pressure curve.'! This information is used to help select samples for relative permeability determinations and to charactrrize. in general. the pore size distribution of the sample. 2. Determination of the specific permeabilities to air, oil. and water. These values are those on which the relative pern~eahility calculations are based. 3. Reduction of the core to connate water by an oil drive using the high speed centrifuge. 1. Determination of the critical gas saturation value and the associated relative permeability to oil by the solution gas drive method. 5. Determination of the relative permeabilities to oil and gab in the region where both phases are flowing by the capillary presqure method. 6. Reduction of the sample to residual oil in the centrifuge by an air drive. and the determination of the relative permeability to gas at this point.

Jan 1, 1951