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By J. D. Wheeler, H. W. Mathews

AS predicted by Messrs. Fuqua and Thompson, in last year's paper on West Texas1, 1935 saw a marked increase in activity in this area over recent years. Both major and independent operators shared in the increased wildcatting operations, which resulted in the discovery of eight and probably nine new fields in this area. During 1935 there were 700 wells completed as compared with 468 in 1934 and only 236 in 1933. Of these completions 579 were producers with a total 24-hr. potential of over 700,000 bbl. It is estimated that the new fields discovered during 1935 added from 200,000,000 to 400,000,000 bbl. to the known oil reserve in West Texas. In addition to these new fields, many of the older producing areas scored marked extensions during the year. New Fields Goldsmith.—-The Goldsmith field, in west central Ector County, gives promise of being the year's outstanding discovery in this area. The discovery well was completed by the Gulf Production Co. in June at a depth of 4177 ft.; it gaged 275 bbl. of 36° gravity oil in 3 hr. through 85/8-in. casing on its first production test. The field has been extended to the east by wells drilled by Phillips and Pure on their Cowden block. Present indications are that the field may contain 10,000 productive acres, and this, together with the large flush production from only a small penetration into the pay, leads to the belief that Gulf-Goldsmith No. 1 was the outstanding Permian lime discovery of 1935. It is quite probable that production will prove to be continuous to the Landreth-Scarborough No. 1, 33/4 miles to the northwest, which was completed for a small producer late in 1934. Sand Hills (Ordovician).—From the standpoint of creating excitement, the outstanding West Texas test of the year was no doubt Gulf-Waddell No. 1, on the northwest nose of the Sand Hills structure. This test was started late in 1934 as a deep test to the Ordovician. Thc Ordovician was topped above 6000 ft,., considerably higher than expected. Oil shows in the Simpson were passed and the well was drilled down to the

Jan 1, 1936

By F. Julius Fohs

TAKING into consideration the present state of geologic knowledge and present economic status of the oil industry, we have attempted to outline the six principal districts in which oil occurs and new pools may be expected. The map, Fig. 1, also shows the location of the present productive pools-about 100 in number. The unshaded areas represent territory where drilling depths to known sands are prohibitive with present development and pumping methods, or such sands are absent or give promise of such small production that deep wildcat tests are unwarranted. They include, also, territory where the oil-source materials are absent or not of the right type; and where shales are insufficient in the stratigraphic section to prevent the escape of oil and gas. Some doubtful districts are also included, such as the Pecos Valley, where the percentage of rigid beds, sandstones and limestones may be too great; and the Nacogdoches oil field, where small shallow production is obtained but where deep or large production is unlikely. The map is not offered as final but in the hope that it may prevent the expenditure of large sums in attempted development of unlikely territory and as the warning that those who drill in the unshaded territory do so at great risk. Those who drill in such territory should have large sums available for pioneering and experimenting and only attempt it if they can well afford to lose the money expended. Search in the shaded or cross-hatched areas is hazardous enough and should only be undertaken after detailed geologic surveys. Out of a total area of 256,000 sq. mi., the oil and gas districts comprise about 80,000 sq. mi.; the territory embraced in these districts is shown in the shaded portions. This may ultimately be increased somewhat by the addition of some minor districts, but such additions will be offset by territory probably now included in the unshaded areas. The shaded areas probably contain 98 per cent. or more of the ultimate production of the state, despite the fact that they represent only 31 per cent. of the total area.

Jan 3, 1924

By George Wendell

THE fact that a symposium on pyrometry is being held under the auspices of the American Institute of Mining and Metallurgical Engineers may very properly be taken as a recognition of the importance of temperature measurements and control in production and in the industries, and of the need for instruction in pyrometry in our schools of engineering. Though there may be general agreement as to the need of some instruction along this line, there will undoubtedly be divergence of opinion as to the amount of time that can be allowed to such instruction, as well as to its character. Those who have given little attention to the complexity of high-temperature measurements will be apt to think that a few simple experiments are all that is required. They fail to distinguish between the artisan, who merely has to learn how to use any piece of apparatus that is installed, and the technically trained man, who must be prepared to assume the responsibility for the supervision and maintenance of the pyrometric equipment, for the calibration of the instruments, and for the solution of any temperature problems that arise. In approaching this subject two questions present themselves: What should be the character of the instruction in pyrometry in an engineering school, and what can be expected of the students who have had this instruction? In brief, it may be said that the aims of a course in pyrometry should be to give: (1) A thorough grounding in the fundamental principles of thermoelectric, resistance, radiation, and optical pyrometry, and of liquid and gas thermometry; (2) practical instruction in the calibration of pyrometers; (3) acquaintance with the errors that are likely to arise and the precautions that must be observed in practice; (4) information regarding the limitations of the various classes of instruments, their relative reliability, and the accuracy attainable with them at different temperatures; (5) acquaintance with the commercial instruments on the market, their construction and relative merits; (6) a knowledge of the chief sources of information relating to the measurement of high and low temperatures. To sum up, the aim should be to turn out resourceful young men familiar with the leading instruments on the

Jan 9, 1919

By Eugene W. Pearson

In a marked departure from conventional practice, the Power Plate process combines the two unit operations of leaching and electrowinning into a single continuous step for direct recovery of copper from sulfide concentrates, cement copper, copper scrap, and copper oxide slurries. Considering how environmental controls are pre- venting development of smelters for additional capacity or new construction, the Power Plate process provides a welcome pollution-free alternative to the smelting-electrorefining routes. And its low capital investment and low operating costs also recommend it to copper producers who are now using or investigating various hydrometallurgical methods.

Jan 12, 1974

By William R. Chedsey

IN the last two years the E.C.P.D. committees having to do with the inspection of engineering schools for possible accrediting have been concerned with the engineering content of some of the mineral industries courses. Originally the discussion arose with regard to engineering geology, or geological engineering, afterward broadening to metallurgical engineering, ceramic engineering, agricultural engineering, and other branches not pertinent to this discussion. Some members of visiting committees took the attitude that they probably would have to accredit these types of training as included in the engineering group if they met the average standard set by the mining schools, though they questioned -whether they were really engineering.

Jan 1, 1939

By A. B. Kinzel

Advance in the art of slag control has been very rapid in the past few years. The viscosimeter method for slag-reaction rate and composition, together with the phosphorus and other methods mentioned by Dr. Herty, allow the steelmaker to rectify and control the slag in the finish period of the heat with much greater precision that ever before. However, the steelmaker's problem is more complex, and in order to make steel of proper analysis in the most economical manner the constitution of the initial slag that has formed immediately after the lime is up in the furnace is of prime importance, as it is one of the factors that determine the carbon content of the charge as melted. Many heats melt with high carbon and some with carbon much lower than is expected so that, on the average, increased furnace time is necessary before reaching the finishing period. The problem, therefore, is to so regulate the slag-making additions that a suitable initial slag will be formed at once. Where all cold metal charges are involved, particularly where the iron and scrap are selected, this may be done with a fair degree of regularity. This regularity results not only in better conditions at the beginning of the heat and during the carbon drop, but also the need for smaller slag-modifying additions toward the end of the heat. The above has been well demonstrated by the work reported by Reagan in the past few years. Where large amounts of cold pig or hot metal are used, the problem becomes more involved. It is much more difficult for the steelmaker to be sure that for any given furnace the heat will form the desired initial slag. Observations of many heats indicate that the pig iron is a dominating factor in the constitution of the slag formed. The scrap is also a factor but in general could be roughly classified and a correction made therefor. The necessity, therefore, arises for a method of correlating the pig-iron charge and type of slag formed for any particular furnace, which resolves itself into a measure of those qualities of the pig iron which affect the slag. The amount of silicon, manganese, phosphorus and sulfur in the pig iron will probably have some effect on the type of slag formed, but

Jan 1, 1935

By Warren L. Howes

Literally hundreds of designs of mill liners are in use in current grinding operations, varying in contour from smooth to the roughest of surfaces, and in materials from scrap rail to alloy steels. A certain amount of variation in materials can be expected, owing to differences in local market conditions and the character of ores. However, when one attempts to rationalize the designs in current operations of a parallel nature, there is little that can be called standard practice. Designs and opinions of designs are as divergent as day and night. Somewhere in this maze there must be dues to better practice. The purpose of this paper is to examine the factors for consideration in liner design, and to propose a vigorous campaign of exploration in this phase of grinding operations. The paramount considerations in the choice of mill liners for a grinding operation are: (I) durability, in view of the cost, and (2) developed grinding capacity. Because of the strategic nature of grinding circuits in controlling the production of most mining operations: grinding capacity usually is the greater consideration. Grinding Capacity Mill liners affect grinding capacity in two ways: (I) by establishing dead space within a mill shell, which could be usefully occupied by live grinding media, and (2) by controlling the grinding action of the media. The extent to which liner thickness affects the potential volume of live grinding media, and thereby the grinding capacity, is shown in Table I. In a ball mill 7 ft. in diameter, for example, an inch of liner thickness reduces ball volume and corresponding grinding capacity by 5 per cent. With grinding capacity at a premium, this makes consideration something more than first cost of liner materials. A low-cost, voluminous material, made extra thick to secure adequate life, can be very expensive in terms of grinding capacity. On the other hand, in increased grinding capacity, a long-wearing material in a thinner pattern can save many times its value. From the standpoint of mechanics, the function of mill liners is to provide the means of driving or tumbling the load of grinding media. In this respect, an internal-spur gear-and-pinion assembly resembles a rotating mill shell with its contained load of grinding media, the mill-shell linen

Jan 1, 1947

By Valentin R. Garfias

The production of petroleum in the Mexican fields during 1931 followed the downward trend of the past nine years, with a decline of close to 6,600,000 bbl., or about 17 per cent from the 1930 total. The output was close to 32,964,000 bbl., the Tampico-Tuxpam fields showing the largest actual and proportional decline, while the production of the fields in the Isthmus of Tehuantepec remained practically unchanged. Wildcatting along the international border was carried on more actively than in previous years, the only successful completion being the Alberca No. 1 well located about eight miles from the international boundary, across from Roma, Tex. This well, completed at a depth of 2015 ft. and plugged back to 1550, is rated at about 6,000,000 cu. ft. of gas per day from a horizon between 1330 to 1540 ft., and is now connected to the gas line from the Jennings gas field, Texas, supplying the city of Monterrey. Favorable oil indications have been encountered in other exploratory wells along the border and drilling will probably continue as these lands are largely held under government concessions which require continuous development work in order to retain title. Development in the Isthmus of Tehuantepec has progressed in a systematic manner, the number of successful completions during the year being considerably larger than in the South or Northern fields. The oil pipe line from the south fields to Mexico City has been completed and its operation and that of the Azcapotzalco refinery is expected to begin early in 1932. The construction of this line will Tevolutionize the transportation of petroleum and its products from the fields to the high plateau and seriously affect the revenues of the government-owned railroads. General conditions in the oil industry were reflected in Mexican operations. Low prices and the imminent threat of an American oil tariff discouraged development work necessary to maintain or increase production, and the curtailment of activities resulted in considerable reductions in personnel by all companies. Early in 1932 the Mexican Government announced its intention to create a surface tax or yearly rental on oil lands equivalent to about 31/4 U. S. cents per acre. Such additional burden on this already harassed industry will not only create little or no

Jan 1, 1932

By Warren L. Howes

Literally hundreds of designs of mill liners are in use in current grinding operations, varying in contour from smooth to the roughest of surfaces, and in materials from scrap rail to alloy steels. A certain amount of variation in materials can be expected, owing to differences in local market conditions and the character of ores. However, when one attempts to rationalize the designs in current operations of a parallel nature, there is little that can be called standard practice. Designs and opinions of designs are as divergent as day and night. Somewhere in this maze there must be dues to better practice. The purpose of this paper is to examine the factors for consideration in liner design, and to propose a vigorous campaign of exploration in this phase of grinding operations. The paramount considerations in the choice of mill liners for a grinding operation are: (I) durability, in view of the cost, and (2) developed grinding capacity. Because of the strategic nature of grinding circuits in controlling the production of most mining operations: grinding capacity usually is the greater consideration. Grinding Capacity Mill liners affect grinding capacity in two ways: (I) by establishing dead space within a mill shell, which could be usefully occupied by live grinding media, and (2) by controlling the grinding action of the media. The extent to which liner thickness affects the potential volume of live grinding media, and thereby the grinding capacity, is shown in Table I. In a ball mill 7 ft. in diameter, for example, an inch of liner thickness reduces ball volume and corresponding grinding capacity by 5 per cent. With grinding capacity at a premium, this makes consideration something more than first cost of liner materials. A low-cost, voluminous material, made extra thick to secure adequate life, can be very expensive in terms of grinding capacity. On the other hand, in increased grinding capacity, a long-wearing material in a thinner pattern can save many times its value. From the standpoint of mechanics, the function of mill liners is to provide the means of driving or tumbling the load of grinding media. In this respect, an internal-spur gear-and-pinion assembly resembles a rotating mill shell with its contained load of grinding media, the mill-shell linen

Jan 1, 1947

By W. Rostoker

A STUDY of the titanium-oxygen system' involved an associated series of measurements of the lattice parameters of the a and TiO phases. The results permit some interesting deductions which are herein reported. A comprehensive survey of the physical PI-operties of the phases in this alloy system has been made by Ehrlich.2 However, only impure titanium was available at that time, so that some revision of his measurements is to be expected. The lattice parameters were calculated from the high angle lines of Debye-Scherrer patterns taken in a 14 cm camera and using filtered CuKa radiation. The specimens were prepared largely by crushing and screening of lump samples which had been quenched from elevated temperatures. Only in the case of low oxygen contents was it necessary to resort to filing and annealing. The results of the lattice parameter studies are graphically presented in Figs. 1 and 2. It will be seen that oxygen produces a pronounced distortion of the c parameter of the a phase (hexagonal close-packed). The trend is in general agreement with Ehrlich's work, although the divergence of actual parameter values strongly suggests that his titanium was very impure. It will be noted that the a phase of titanium can tolerate the unusually high saturation solubility of about 34 atomic pct 0. By virtue of this unique effect, it is possible to make a calculation of the effective atomic diameter of oxygen when dissolved in a lattice with metallic bonding. This has not been possible before. Ehrlich's2 density measurements demonstrated that oxygen occupies interstitial positions in the a lattice and the trend of the lattice parameters would certainly support this. In a hexagonal close-packed unit cell the largest interstitial positions lie at (2/3, 1/3, 1/4) and (2/3, 1/3, 3/4). Accordingly, if both of these positions were occupied, the ratio of titanium to oxygen would be 1:1. The extrapolated c parameter may be taken as between 4.93 and 4.99?. The a parameter appears to reach a constant value of 2.955? at low oxygen contents. The distance of the center of a titanium atom site from the [vc2/16+a2/3-1.448] Then the atomic diameter of the oxygen atom is represented by the function: where the radius of the titanium atom is 1.448A,

Jan 1, 1953

By A. B. Kinzel

Advance in the art of slag control has been very rapid in the past few years. The viscosimeter method for slag-reaction rate and composition, together with the phosphorus and other methods mentioned by Dr. Herty, allow the steelmaker to rectify and control the slag in the finish period of the heat with much greater precision that ever before. However, the steelmaker's problem is more complex, and in order to make steel of proper analysis in the most economical manner the constitution of the initial slag that has formed immediately after the lime is up in the furnace is of prime importance, as it is one of the factors that determine the carbon content of the charge as melted. Many heats melt with high carbon and some with carbon much lower than is expected so that, on the average, increased furnace time is necessary before reaching the finishing period. The problem, therefore, is to so regulate the slag-making additions that a suitable initial slag will be formed at once. Where all cold metal charges are involved, particularly where the iron and scrap are selected, this may be done with a fair degree of regularity. This regularity results not only in better conditions at the beginning of the heat and during the carbon drop, but also the need for smaller slag-modifying additions toward the end of the heat. The above has been well demonstrated by the work reported by Reagan in the past few years. Where large amounts of cold pig or hot metal are used, the problem becomes more involved. It is much more difficult for the steelmaker to be sure that for any given furnace the heat will form the desired initial slag. Observations of many heats indicate that the pig iron is a dominating factor in the constitution of the slag formed. The scrap is also a factor but in general could be roughly classified and a correction made therefor. The necessity, therefore, arises for a method of correlating the pig-iron charge and type of slag formed for any particular furnace, which resolves itself into a measure of those qualities of the pig iron which affect the slag. The amount of silicon, manganese, phosphorus and sulfur in the pig iron will probably have some effect on the type of slag formed, but

Jan 1, 1935

By David Donoghue

THE. years 1901, 1910, and 1924 may be considered as the beginning of new eras in the history of the oil industry of the Gulf Coast of Texas and Louisiana. Spindletop, in 1901, with its enormous cap-rock production revealed the possibilities of the salt domes. The lateral sand development at Vinton, in 1910, renewed interest in the then known domes which were non-producing, or were producing from the cap rock or from sands above the cap rock. The discovery of three domes, Nash, Orchard and Long Point, in the year 1924, by means of the torsion balance and the seismograph, is the beginning of intensive explorations of the Gulf coastal plain by geophysical methods. Domes other than those mentioned have no doubt been found during the last few months of the year but tests have not been drilled to confirm the evidence of the instruments. DISCOVERY OF DOMES BY GEOPHYSICAL METHODS The Rycade Oil Corpn. operated the first torsion balance on the Gulf Coast in October, 1922, and the Roxana Petroleum Corpn. brought in one of these instruments and began work in December, 1922. The U. S. Coast and Geodetic Survey made some gravity observations at Damon Mound, in 1923, with a pendulum apparatus. In March, 1924, the Marland Oil Co. placed the first seismograph on the Gulf Coast and the Gulf Production Co. followed with one in May. In June, 1924, the Gulf Production Co. began operations with a torsion balance. The Atlantic Oil Producing Co., The Texas Co., and others have experimented with several types of instruments involving various principles. During the next few years, a great advance in geophysical methods may be expected, especially if one of the newly discovered domes should be productive. The first dome discovered was the Nash, in Fort Bend County, Tex., about 6 mi. east of Damon Mound. A slight elevation and two shallow wells containing sulfurous waters made the locality somewhat interesting from the standpoint of surface indications, and the torsion-balance measurements indicated the presence of a dome. On July 20, 1924, the Rycade Oil Corpn. No. 1 Wisdom encountered lime at a depth of 634 ft. and anhydrite at 639 ft. The hole was abandoned on Sept. 8, 1924, at 769 ft. in anhydrite. A cavity in the anhydrite caused much delay and the final abandonment of this test.

Jan 3, 1925

By N. W. Perry

Some months ago a gentleman gave me a handful of minerals which he had collected in an arroyo, or dry stream-bed, that ran through the town of Ramos, State of San Luis Potosi, Mexico, as a sample of the class of ore that might be expected in the mines of that section. I was, however, familiar with those mines and their ores, and cast the pebbles aside as of no interest. I afterwards returned to Mexico and took charge of two groups of mines, one in the State of Zacatecas, and the other in the town of Ramos, State of San Luis Potosi. While I was thus engaged, it was a very frequent occurrence for parties to bring me specimens of rock, ores, etc., for my opinion on them; and one day a man brought me a half-dozen or more small pieces of a very black shiny mineral, desiring to know what it was. I did not recognize it, and desired him to give me the specimens for analysis, which he promised to do in a day or two. He never did give them to me, for he lost them ; but he said there were plenty more where these came from—at Ramos—and he could get them at any time for me. I thought no more of the matter until after my return to this country, when, one day, in looking over some of my old " trash," I came across the specimens at first referred to as having been cast aside so carelessly. I noticed two distinct minerals among the pebbles : one being erubescite or tetrahedrite, the predominating mineral of the mines of Ramos, and the other a hard black shining mineral, the same that I had wished to analyze in Mexico. On testing for hardness I was surprised that it scratched topaz with some degree of ease, thus placing it above 8 in the scale of hardness. Trying it with a corundum, I sometimes succeeded in scratching it, but at other times it would scratch the corundum, and at still other times neither would produce the slightest effect on the other. Crystallized topaz would be ground to a powder in attempting to scratch the black mineral, without abrading it in the slightest. It must, therefore, be placed at 9 in the scale of hardness. It is of the deepest opaque black, not unlike pitch-blende in ap-

Jan 1, 1884

CHARLES F. WILLIS,* Bisbee, Ariz. (written discussion ?).-There are few mine officials who will not say that there is, great need of vocational schools in mining communities, but the absence of success of so many of these ventures makes them wary about establishing such schools. They have neither the time nor the facilities to study the systems and to analyze the factors that have made certain schools a success and others a failure. In the first place, it is difficult to secure the proper instructors. Educators cannot make the appeal to the workmen, because of their lack of experience, and experienced men who are capable of the appeal are not usually educators, knowing nothing about the presentation of the subject. Then, too, there is ordinarily no objective in a mine school. The workman is not reached by a school that makes him merely a more valuable man to his employer, unless he can participate in the gain. An objective, as promotion or financial gain, would appeal to the man and would make for regular attendance. Usually vocational schools are run like all others-a number of subjects at a time, continued from one day to another. This is impractical for the workman, whose mind cannot work like the mind of a school boy. The school boy is spending most of his time in school work, while the man is doing it as a side issue, and he cannot be expected to pick up tonight's lesson where last night's left off. The workman is accustomed to the idea of completing a job and doing one thing at a time; his mind is trained that way, and for this reason a school that works on the principal that each lesson is a complete job, with no reference to the previous or following lesson, will go a long way toward removing one of the things that has caused many failures. The usual vocational schools .in mining communities are either very elementary, or are run by the engineering staff and, consequently, are too advanced. There is no plan between. It is believed that there is a possibility of a halfway type, but this is a subject that is large enough for a paper by itself and is entirely, too broad to be presented as a discussion.

Jan 6, 1919

By Waldemar Lindgren

Discussion of the paper of WALDEMAR LINDGREN and CLYDE P. Ross, presented at the New York meeting, February, 1916, and printed in Bulletin No. 106, October, 1915, pp. 2171 to 2190. WALDEMAR LINDGREN, Boston, Mass.-I happened to go down to Cuba rather unexpectedly in the winter of 1914, and spent a few very interesting days at Daiquiri and Mayari. To C. F. Rand and his associates I am greatly indebted for permission to visit the mines and for many courtesies received. A few months after that, I met Professor Kemp who informed me that he had just returned from a geological study of Daiquiri. We talked over what to do in a case like that. We both liked to publish our opinions, and so finally agreed to write two papers entirely separately, I not knowing any of Professor Kemp's conclusions,1 and vice versa. We were rather interested in seeing what would happen. Of course, as might be expected, we disagreed on some points; not, of course, that we ordinarily disagree, but simply because when two men work in the same field and with different ideas, probably they are apt to vary slightly in their conclusions. Some years ago A. C. Spencer went down there for the military interim government and published the results of his study. His view of the origin of the deposit differed from that of Professor Kemp and from mine. So here are three different results obtained by three different geologists. Such differences in opinion on obscure subjects sometimes tend to bring geology into disrepute. It is perhaps not surprising that different opinions have been expressed, for this occurrence of iron ore is one of the most difficult to explain that I have ever seen. MAX ROESLER, Great Neck, L. I.-I had the opportunity this summer of spending about two months down at the Juragua deposits, and studied them with the idea of writing a paper on them, which I hope will come out later. The interpretation of the occurrence at Ocania Mine is the thing which particularly struck me, in the last paper. At the Ocania Mine we may have these large blocks of limestone which have been utterly and entirely altered, to a remarkable extent.

Jan 5, 1916

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By George Smith

THE discussion of production control at the Insti-tute's annual meeting was profitable in that it started some thinking. One pertinent question there raised was how the opening of new mines, whose now unneeded output would inevitably react on prices, could be postponed until the market was ready to ab-sorb their output. In transportation some restraint is being exercised on building new and unneeded fa-cilities, but in production no general solution of the problem has been offered. Yet in a special field of new development of increasing importance a quick and easy solution has been suggested. I refer to the leasing of mineral deposits on the public domain. The report of the United States Coal Commission says: "In its possession of approximately 60,000,000 acres of public coal lands the Federal Government has its own responsibility in restraining overdevelopment. The Department of the Interior, which has control of these lands under the leasing law, construes the law as giving the department no discretionary right to refuse applications for leases regularly made by qualified citizens or corporations for coal deposits on the pub-lic domain. It presumes, that the applicant believes there is a need for an additional coal mine in his local-ity and expects to find a market for the coal produced. Overdevelopment, however, is a fact in the West as well as in the East, and wherever present involves needless investment and excessive costs of operation. Plainly, the leasing law should be so amended as to give the executive department full discretion in its approval of the opening of a new coal mine on the, public domain, making that approval contingent on the showing that the new mine would serve the in-terest of the consuming public." A similar view of the Federal Government's re-sponsibility in restraining overdevelopment of its oil lands has been presented by the Federal Oil Conser-vation Board. The leasing law vests little or no dis-cretion in the Secretary of the Interior, who must grant a lease to a qualified applicant regardless of any obvious country-wide condition of surplus produc-tion. This wide-open invitation to exploit and dissi-pate the people's own oil resources could be restricted by simple legislation, although as remarked by the board, such a legislative remedy for a plain economic ailment "does not evoke popular support when its purpose is avowedly to put the brakes on development of natural resources."

Jan 5, 1928

By W. Irwin Moyer

Two methods for the rapid valuation of oil properties are in common use. The one best known and most widely used is the "per barrel" value, based on the present daily production of the well, without regard to its past performance or the history of the sand or pool from which it produces. The second method is the "time to pay out," or the lengt of time required for a well to place itself upon the credit side of the ledger, from which time the returns from its production (less the operating expenses) will be clear profit. The time basis for valuation is also commonly used in the appraisal of an undeveloped lease. In most oil fields, it is not thought good business to invest in production that will not pay out in at least 4 to 5 years. Nearly all buyers (except in certain regions of very persistent production like the deep-sand territory of the Appalachian field) expect wells to pay out in considerably less time than this. Like the barrel-per-day price, the time necessary for a well to pay out has been determined for each field, so that one frequently hears a field or district referred to as having a certain time to pay out. This is considered the norm for that field or district and the buyer and seller base their value, to greater or less extent, on their belief in the accuracy of this time. The writer long ago became convinced of the inaccuracy of the barrel-per-day method, except when greatly modified for local conditions, such as the age of the wells, their economic limit, operating conditions in the field, the future price of oil, and the persistence of the sand as a producer. When so modified, this method becomes more of an analytic or predicted probable-yield valuation. While the appraiser may not go through each step in a valuation based on future returnable revenue, his knowledge of the field and the local conditions surrounding his leases make it possible for him to estimate a fair sales value that, in many cases, will be a close approximation to the truth. This is quite different from she commonly understood barrel-per-day value, in that the conditions turrounding the sale of one lease or property at a fair market value may

Jan 1, 1923

By E. J. Duggan

It is a coincidence that the two plants in this country for treating copper ores by ammonia leaching came into existence at almost the same time, that of the Kennecott Copper Corporation at Kennecott, Alaska, in March, 1916, and that of the Calumet & Hecla Mining Co. in July of the same year. The success of both from their very beginning attests the merits of the process under widely different sets of conditions. As would be expected, in the time they have been operating these two pioneers in this field have greatly perfected their methods and improved their technic. The early difficulties inevitably encountered in undertakings of this nature have been largely surmounted and the process may now be considered to be well seasoned and matured. There have been no other commercial plants built in this country and but one elsewhere, the Bwana M'Kubwa in Northern Rhodesia, for the reason that this method of treatment may be employed on comparatively few ores. However, it has certain advantages, some of which are inherent to sand leaching processes generally and some to ammonia leaching in particular. Among these may be enumerated: (1) the avoidance of fine grinding; (2) the small amount of water required; (4) a high-grade product; (5) little likelihood of deleterious gangue constituents and fouling of solutions. It is true that great progress has been made in recent years in the flotation of the ores that come within the province of ammonia leaching. Nevertheless ammonia leaching has its possibilities and these may be overlooked in the present tendency toward the use of flotation for all ores. Probably the chief requisite to its further extension to suitable ores will be a cheap source of steam. Ammonia, the only reagent required, is unlimited in supply, readily transported and the price that is likely to obtain in the future should not make its cost at all onerous. Choice of Method for Kennecott Ores The Kennecott ores are typical limestone replacement deposits. The milling ores have a copper content of approximately 8 per cent in a limestone dolomite gangue. About half the copper occurs as sulfide, mostly chalcocite with some covellite, and the remainder in the form of the two carbonates, malachite and azurite. A comparatively coarse grind followed

Jan 1, 1934

By P. B. Butler

IN common with others, the zinc industry found itself after the war largely over-capitalized, a condi-tion which still exists notwithstanding that Tri-State production has doubled since prewar days. This is partly due to the abnormal war demands and partly because of the war impetus given to research, a stim-ulus that because of its success has persisted (and probably will persist) constantly since then. Improved practice and metallurgy resulting from research are today responsible for an increased pro-duction in the Tri-State district of 15 per cent over the practice of five years ago, and the giant strides in this respect in the western states together with the more moderate advance in the Tri-State district has thrown out of equilibrium the more or less balanced production of before the war and production has con-sequently gained on consumption, a condition resulting in rapidly narrowing profits in the Tri-State field, where the present average cost is actually greater than the price received for our product. Despite this condition, no thinking person will de-plore the cause or means used to achieve a greater production and, as this progress is merely the economic application of intelligent thought, it follows that equal effort and thought may be expected to produce the remedy. It has been suggested that the practical application of research has resulted in less need for man-power and consequently in the lessening of employment to common labor and to engineers. I cannot think that such is the case although personally I have received more ap-plications for employment during the last two years than ever before. But when one considers the strides production of all commodities has taken, it is difficult to reconcile this immense development with the possible increase in pop-ulation especially in view of our stringent immigration laws. Whether or not improved industrial methods are responsible for the lessening of employment the ques-tion as to the wisdom of such improvement is hardly debatable. While the Tri-State district of Oklahoma, Kansas and Missouri continues to be the leading factor in the zinc¬mining industry, gradually lowering prices during 1925 and 1926 and a. decided drop during 1927, have de-creased its production almost 20 per cent, this tonnage having largely been replaced by western concentrates.

Jan 4, 1928