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By Frederick G. Coqueron, Joseph E. Pogue

The purpose of this study is to present the results of a detailed survey of the financial and operating aspects of 30 oil companies comprising a major sample of the American petroleum industry. This review supplements a previous paper entitled "Capital Flow and Capital Formation in the Petroleum Industry, 1934-1941,"a and deals not only with a longer period but also gives new and more revealing analyses of the capital movements and characteristics. The data are gathered from published financial statements of the companies, especially the annual reports to stockholders and Form 10-K to the Securities and Exchange Commission, supplemented by confidential information. The 30 oil companies covered by this study are listed on the leading stock exchanges and for the purpose of analysis are grouped as follows: 9 companiesb engaged principally in crude production, 4 companiesc with production averaging in excess of refinery requirements, and 17 companiesd with refinery throughput in excess of crude production. These samples are sufficiently broad and representative to constitute norms against which individual company performances may be profitably compared. The 30 companies in 1942 produced 54 per cent of the Nation's total output of crude oil and refined 79 per cent of the country's crude run to stills. The financial data apply predominantly to the domestic oil business, although 15 of the companies have investments and operate facilities in foreign countries. The net value of these foreign holdings amounted to 724 million dollars, or 12 per cent, of the combined net assets of the 30 oil companies at December 31, 1942.

Jan 1, 1944

By Chas. A. Ashburner

The occurrence of oil- and gas-springs in the State of New York has been a fact of historical record since 1627, when the existence of the Cuba oil-spring was first recorded. The utilization of natural gas at Fredonia in 1821 attracted the attention of the public to the possibility of obtaining an illuminating gas by digging and drilling into the rocks. No active search was made, however, for oil or gas by the drilling of wells until after the discovery of commercial oil in Pennsylvania in 1859. In 1862 a well was drilled at Bradford, McKean County, Pennsylvania, but a few miles south of the New York state line, to the depth of 200 feet, in search of the oil-sand which had been found at Titusville, Oil City, and at other points in Western Pennsylvania. Immediately subsequent to this, other wells were drilled in search

Jan 1, 1888

By C. C. McDermond, Others, B. N. Zavoico

Production of crude oil in Venezuela for the year 1937 was 186,653,-916 bbl., as compared with 155,228,982 bbl. produced in 1936, an increase of almost 31,500,000 bbl. The oil-field strike, which started on Dec. 14, 1936, lasted until Jan. 25, 1937, when a total of 10,000,000 bbl. of production was estimated to have been lost (5,750,000 bbl. in 1936 and the remainder in 1937). Of the total of 186,653,916 bbl. produced in 1937, the Lagunillas field contributed 45.6 per cent, a drop of approximately 10 per cent under 1936 figures; Tia Juana, 14.3 per cent; Quiriquire field, 14.0 per cent; La Rosa area, 13.3 per cent and the Mene Grande field, 7.6 per cent, these being the five leading contributors of the year's production. Detailed production figures by fields and by companies are shown on Table 1. Of the total production of Venezuela the following four major companies accounted for the greater proportion: Standard of Venezuela and Lago Petroleum Corporation together, 48.3 per cent; Shell, 37.4 per cent and Venezuela Gulf, 14.0 per cent. At the end of the year, 2491 wells were producing, of which number 1291 wells were pumpers, or about 52 per cent. Production The accompanying statistics of production record of Venezuela oil fields from its inception to Dec. 31, 1937, shown on Table 2, indicates that the cumulative production reached 1,503,283,228 bbl. In order of importance, Lagunillas leads all the fields, having accounted for about 50 per cent of Venezuelan production, followed by La Rosa area, which produced about 21 per cent; Mene Grande, which produced about 13 per cent, and Quiriquire, which produced 6.5 per cent. Table 3 shows the age of each field. Mene Grande is the oldest, having produced for 24 years; Tarra is next, 21 1/2 years old, and El Mene third, 171/2 years. The gravity of the crude from the various fields, also shown on Table 3, remained unchanged, the only addition being the new Tia Juana field, which averages 15.6' A.P.I. Table 4 shows the method of production by fields as of Jan. 1, 1938; at the end of the year 2491 wells were producing, compared with 2005 wells producing at the beginning of 1937, or an increase of 486 wells. The completions for the year reached 512. Of the 2491 wells producing crude oil, 1291 wells, or approximately 52 per cent, were pumping, 925 (approximately 37 per cent) were flowing naturally and 275 (11 per cent) were on

Jan 1, 1938

By H. M. Morse

Tinsley Oil Field.—Mississippi joined the oil-producing states when on Sept. 13, 1939, the Union Producing Company's G. C. Woodruff well No. 1, sec. 13, T. 10 N., R. 3 W., Yazoo County, was completed after drilling plug at 4540 ft. in the Woodruff sand of the Eutaw formation of Cretaceous, producing 300 bbl. per day of 34.4" gravity oil through a ¼-in. choke, with a gas-oil ratio of 80 to 1 and bottom-hole pressure of 2045 lb. This was the discovery well in the Tinsley oil field. The well was drilled to a total depth of 4567 ft. and no salt water was encountered. The sand underlies the Selma chalk formation. Nine producing oil wells and one dry hole were drilled and completed by the end of 1939. Two producing sands have been found in the Eutaw and a third sand in the top of the Tuscaloosa formation, called the Woodbine sand in Louisiana and Texas. Faulting is an important factor in the Tinsley field. Total oil production has been approximately 250,000 bbl. from the nine flowing wells. Total depth to top of productive zone was 4540 ft.; to bottoms of productive wells, 4580 ft. Net thickness of the producing formation is 20 to 40 ft., and its porosity is 24 per cent. The deepest zone tested was the Tuscaloosa, in which the depth of hole was 6112 feet. Six hundred and forty acres has been proved for oil production. Jackson Gas Field.—The Jackson gas field has shown a steady decline in the number of wells but the pressure has been maintained. This field is a perfect example of a water-driven field and the time of wells going to salt water is predictable. Five wells were drilled in the Jackson field, of which only one produced. Amory Gas Field.—Interest was renewed in the Amory gas field, where a new well was started in the fall of 1939. Geological Formations.—The deepest well drilled in 1939 was the Willmut Gas and Oil Company's Cleve Love S. F. Johnson No. 1, sec. 29, T. 6 N., R. 1 W., Hinds County. This well encountered the Lower Cretaceous, Trinity series from 3770 to 6422 ft.; Lower Mesozoic from 6422 to 6484 ft. The geological correlations and nomenclature of the formations in Mississippi are shown in the accompanying strati-graphic section.

Jan 1, 1940

By H. M. Morse

Tinsley Oil Field.—Mississippi joined the oil-producing states when on Sept. 13, 1939, the Union Producing Company's G. C. Woodruff well No. 1, sec. 13, T. 10 N., R. 3 W., Yazoo County, was completed after drilling plug at 4540 ft. in the Woodruff sand of the Eutaw formation of Cretaceous, producing 300 bbl. per day of 34.4" gravity oil through a ¼-in. choke, with a gas-oil ratio of 80 to 1 and bottom-hole pressure of 2045 lb. This was the discovery well in the Tinsley oil field. The well was drilled to a total depth of 4567 ft. and no salt water was encountered. The sand underlies the Selma chalk formation. Nine producing oil wells and one dry hole were drilled and completed by the end of 1939. Two producing sands have been found in the Eutaw and a third sand in the top of the Tuscaloosa formation, called the Woodbine sand in Louisiana and Texas. Faulting is an important factor in the Tinsley field. Total oil production has been approximately 250,000 bbl. from the nine flowing wells. Total depth to top of productive zone was 4540 ft.; to bottoms of productive wells, 4580 ft. Net thickness of the producing formation is 20 to 40 ft., and its porosity is 24 per cent. The deepest zone tested was the Tuscaloosa, in which the depth of hole was 6112 feet. Six hundred and forty acres has been proved for oil production. Jackson Gas Field.—The Jackson gas field has shown a steady decline in the number of wells but the pressure has been maintained. This field is a perfect example of a water-driven field and the time of wells going to salt water is predictable. Five wells were drilled in the Jackson field, of which only one produced. Amory Gas Field.—Interest was renewed in the Amory gas field, where a new well was started in the fall of 1939. Geological Formations.—The deepest well drilled in 1939 was the Willmut Gas and Oil Company's Cleve Love S. F. Johnson No. 1, sec. 29, T. 6 N., R. 1 W., Hinds County. This well encountered the Lower Cretaceous, Trinity series from 3770 to 6422 ft.; Lower Mesozoic from 6422 to 6484 ft. The geological correlations and nomenclature of the formations in Mississippi are shown in the accompanying strati-graphic section.

Jan 1, 1940

By B. B. Cox

Since our last review of Iraq,' considerable progress has been made not only in exploiting Iraq's potential resources but in building pipe lines to carry the oil to the Mediterranean. No new fields were discovered in 1933. The Naft Khaneh field, discovered in early 1927 by the Khaniqin Oil Co. (subsidiary of the Anglo-Persian Oil Co.), continues to supply the local markets through the Rafidain Oil Co. Kirkuk field, discovered by the Turkish Petroleum Co. Oct. 14, 1927, remained shut in pending the completion of the Mediterranean pipe lines, and the Qaiyarah field, discovered by the same company on Oct. 13,1927, was abandoned in 1928. The principal development of interest during the year was the progress made on construction of the Iraq Petroleum Company's 1152-mile pipe line from Kirkuk to the Mediterranean. The line is double 10-in. and 12-in. pipe for 156 miles west of Kirkuk, where the parallel lines bifurcate, one leg going through British mandated territory to the new port of Haifa and the other through French mandated Syria to Tripoli. Each line may be operated independently of the other. There are three double stations on the Kirkuk-Haditha portion, four single stations on the Tripoli leg, and five on the Haifa in addition to a relief station in the Jordan Valley. Except for the Jordan Valley section and two other short stretches on the Haifa leg where pressures are exceptionally high, the line is single. Sea loading lines will be used exclusively at Tripoli and both sea loading lines and dock loading will be employed at Haifa. All pipe was welded and buried before the end of December, 1933. It is anticipated that enough stations will be completed to make 50 per cent capacity operation possible some time during the latter half of the current year. Some months will then be required in which to fill the line, so that if terminal facilities are ready and no unexpected emergencies arise, partial daily deliveries of Iraq crude may be received at the Mediterranean some time during the final quarter of the current year. Capacity operation of 84,000 bbl. per day is not anticipated much before the middle of 1935. Oil and Gas Production No gas is produced commercially and, except for Naft Rhaneh production, no crude is marketed. Although the Turkish Petroleum Co. and

Jan 1, 1934

By H. F. Winham

THE history, development, subsurface geology, production, economics and estimated reserves are discussed in this paper. The Magnolia structure is an anticline with a known maximum structural relief at 372 ft., and the areal extent of the producing acreage is 4494 acres. Production is obtained from the Smackover oölitic lime and 116 successful wells have been drilled. The field, which was developed on 4o-acre spacing, has been under strict control. It is believed to be producing with a strong water drive. To date it has produced more than eighteen million barrels and the estimate of ultimate recovery is 220 million barrels. EARLY HISTORY The Magnolia field is in Columbia County, Arkansas, T. 17 S., R. 19 and 20 W. Various geologists had long been interested in this general area, and as early as 1921, John F. Magale was able to define a surface structure. The first wildcat, one of the first in Columbia County, was drilled in 1923 by Mid-States Oil Co., in sec. 10, T. 17 S., R. 20 W. This well was about 1 ½ miles northwest of the Kerlyn Oil Company's discovery well and was based on surface geological work done by jewel and Dobie. Subsequently, several shallow wells that were not carried below the Upper Cretaceous beds were drilled in the immediate area of the discovery well, but none of them contained any commercial showings of oil or gas. In the latter part of 1935, Elam and Magale (or Southwood) Garrett No. I was located in sec. 13, T. 17 S., R. 20 W., ¾ mile east of the discovery well. It was drilled to a total depth of 4018 ft. in the lowermost Glen Rose beds but failed to obtain any showings of oil or gas. Interest had been stimulated in this general area, however, by the discovery of several oil fields, mainly Glen Rose oil production in the Rodessa field in Louisiana in 1935, Smackover lime production in Snow Hill in May 1936, production from the Cotton Valley formation in Schuler in 1037, and Smackover lime production from the Buckner field in November 1937. With this background and subsequent seismic work, which was carried on partly because the old shallow wells drilled in the township had shown evidence of closure in the Upper Cretaceous beds, the discovery well, Kerlyn Oil Company's Barnett No. I, sec. 14, T. 17 S., R. 20 W., was originally projected to a total depth of 6300 ft., to test the equivalents of the Morgan sands of the Cotton Valley series, then producing at Schuler. The well was carried to a total depth of 6325 ft. and tested the objective beds without finding commercial production. In the meantime, however, one well had found production in the Jones sand and another in the Smackover lime at Schuler. Kerlyn immediately made arrangements to deepen the Barnett well to the Smackover lime. The top of the Smackover lime was encountered at 7618 ft. and the well was cored and drilled to a depth of 7740 ft.

Jan 1, 1942

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 N. A. D. Parlee

The diffusion rate of hydrogen in liquid iron has been measured by a gas-liquid metal diffusion cell technique. The diffusion cell was formed by immersing an alumina tube containing hydrogen gas at 1 atm in a bath of stagnant liquid iron. The change in the composition of the melt in the cell was determined by measuring the rate of absorption of the gas in the cell. The appropriate solution to Fick's second law was used to examine the data and calculate diffusivi-ties. The absorption of hydrogen in stagnant pure liquid iron has been found to be diffusion-controlled. The results show that the chemical diffusion coefficient, D, of hydrogen in pure iron in the range of 1547" to 1726°C can be represented by the following Arrhenius relation: D(sq cnz per sec) = 3.2 x X exp(- 3300 i 1800/RT) where the uncertainty in the activation energy corresponds to the YO pct confidence level. Oxygen in the melt (above 0.015 pct 2) increased the apparent rate of absorption of hydrogen. The importance of diffusion data on liquid metals for predicting the rates of certain metallurgical processes has been recognized for a long time. Moreover, these data are much needed to test and develop theory for diffusion in liquid metals. Despite this practical and theoretical interest, however, relatively little reliable information about diffusion in liquid metals is available in the literature. This is particularly true for gas components such as hydrogen, oxygen, and nitrogen in liquid metals, where almost no data on chemical diffusion coefficients are to be found. This is probably due to a multitude of experimental difficulties particularly associated with high-temperature melts. In an effort to fill this gap in information, a research program was undertaken to study the diffusivities and rates of solution of gases in liquid metals. This paper presents the results of a study of the diffusion of hydrogen in liquid iron. EXPERIMENTAL METHOD Two methods for the study of the kinetics of dissolution of gases in liquid metals are being employed in this laboratory. Both involve the measurement of the volume of gas absorbed by the melt as a function of time and as such both avoid the uncertainties involved in chemical analyses of quenched samples for relatively small amounts of gas. In the first method, the gas dissolves in an inductively stirred melt and, in the absence of a slow surface reaction, the results are often interpreted in terms of mass transport across a liquid "boundary layer" between the homogeneous gas phase and well-stirred part of the melt. Other interpretations of the results of such experiments have also been described in the literature.1'5 In the second method a gas-liquid metal diffusion cell is used.' The gas dissolves in a cylindrical column of stagnant liquid metal and, in the absence of a slow surface reaction, the results are interpreted in terms of a non-steady-state diffusion solution to Fick's second law. The weakness of the first method is that while it gives information on the mechanism of absorption by stirred melts it yields an overall rate constant which even in the simplest cases depends on the nature and the thickness of the "mass transport layer" or "boundary layer". It yields no values of diffusion coefficients. The second method was used in this research because in many cases it is possible to determine the diffusion coefficient of the gas component in the liquid metal. In this research it has been utilized to measure diffusion coefficients of hydrogen in liquid iron. The apparatus used was essentially the same as that described by Mizikar, Grace, and par lee but certain modifications have been introduced to meet the elevated temperatures and special conditions of this research. Fig. 1 is a schematic drawing of the apparatus and Table I gives the identification of various parts in this figure. The diffusion cell, shown in detail in Fig. 2, was formed by immersing an impervious alumina tube (hereafter called absorption tube) in a bath of pure liquid iron contained in an alumina crucible. Two types of tubes were used, Morganite triangle RR and McDanel AP35. The crucible was contained in a vertical impervious alumina combustion tube (32 mm ID by 914 mm long) which was closed at both ends by water-cooled brass heads employing O-ring compression seals, Fig. 1. A protection tube enclosing a Pt, 5 pct Rh-Pt, 20 pct Rh thermocouple was introduced through the lower end of the combustion tube

Jan 1, 1968

By Charles T. Malcomson

In the United States, improvements in methods of combustion have made possible the use of the smaller sizes of anthracite. This coal is now being reclaimed from the culm banks accumulated by the miners in the more prodigal years. To-day the freshly mined "slush" is segrega,ted and stored against the time when, through briquetting or some other means, it may be utilized as a commercial fuel. For many years Europe has achieved enviable results in the conservation of her small coal by briquetting. This profitable industry, first placed on a commercial basis in France in 1842, has grown to such magnitude that the production during 1913 exceeded 36,000,000 short tons. Briquets produced in Great Britain are used principally for steam purposes and the greater part of the output is either exported or taken by the Admiralty. On the Continent the briquets are sold in all branches of the coal trade. The French railways consume from 16 to 40 per cent. of their fuel in briquet form, and in Germany the lignite briquets (of which 20,000,000 tons were produced in 1913) are as familiar and interesting to the American traveler as the huge porcelain stoves in which they are burned. It is not strange, therefore, that aggressive and far-sighted promoters heralded this means of converting our ubiquitous coal waste into revenue. To the superficial student the briquetting process seemed so simple as to make success easy. It is for this reason principally that the path of the industry in America has been strewn with failures. The rash enthusiast had either not worked out the mechanical problems involved or had failed to grasp the local conditions under which the briquets must be made and sold. It may be confidently stated, however, that in spite of the many vicissitudes through which it has passed, coal briquetting is now an accomplished economic success in this country, and as a profitable adjunct to the coal industry it has come to stay. Several valuable contributions relating to coal briquetting are found in the Transactions. Charles Dorrance, Jr., has sketched briefly the history of the anthracite briquetting plants from the time of Loiseau's pioneer plant down to that of the Lehigh Coal & Navigation Co. at Lans-ford. Since then this phase of the industry has remained practically at

Jan 1, 1915

By Thomas O. Ziebold, Robert E. Ogilvie

Experimental analysis of diffusion samples covering the entire Cu-Ag-Au system at 725°C has been carried out. Experimental coefficients are computed at twenty-eight points in the lermary system. It is found that the direct coefficienl for copper is nearly independent of the silver, content for 1ow-silver alloys and that the cross coefficient for silver correlates with the ther-nzodynatnic properlies. This lalter observalion leads to the conclusion that the mobililies of copper and gold are nearly equal. Thermodynarmic actiuilies for Cu-Ag-Au were computed from binary data and adjusted to be consistent with neasured tie lines across the two-phase region which extends into the ternary diagram at 725°C. Application of these therknodynarnic calculaliorls to the dijftcsion data terifies the Onsager reciprocal relations to the extent that experimental uncertainlies will allow. It is jound that diffusion neav the critical point of the 1200-phase field in the isothermal section at 725°C causes the composition gradients for copper and silver to approach infinity while the direct and cross coeficients become equal. From the standpoint of experimental Procedures, it has been shown that microanalysis of ternary samples may be carried out using a simple expression for the conversion of X-ray zntensily to composilion. The accuracy of' this method has been demonstrated by the analysis of standard alloys and by the reproducibility of composition determinations using differed X-ray lines. DIFFUSION in a ternary alloy system is basically and significantly different from diffusion in binary alloys. When only two elements are present there is just one independent composition variable, and the diffusion profile of composition vs distance across a sample must change monotonically through all solid solutions bracketed by the terminal alloys. If two-phase regions are stable for compositions between the terminal values, these must appear as planar interfaces in the diffused sample, with the composition profile exhibiting sharp discontinuities. Adding a third element may alter this picture completely. Because of the additional degree of freedom in the composition, we may see composition profiles which do not change monotonically through solid-solution ranges, and stable, nonplanar phase interfaces. Even though two-phase regions may lie between the terminal compositions of a diffusion sample on the constitution diagram, they will not necessarily appear in the diffusion profiles. In binary diffusion only one coefficient is needed to describe the interdiffusion process. From Fick's law this coefficient relates the diffusive flux of one component to its own composition gradient. In ternary diffusion we must allow for cross interaction between the two independent species. By a linear extension of Fick's law we introduce "cross" or "off-diagonal" diffusion coefficients which relate the flux of one component to the composition gradient of the other independent constituent. Thus, we require four interdiffusion coefficients to describe the transport process in a ternary system. In its most general form,1,2 the rate equation for mass transport by isothermal diffusion in a system of s components states that the diffusive flux of component i, Ji, is a linear summation of all driving forces, Xk, each force being multiplied by an appropriate compliance coefficient:

Jan 1, 1968

By Edward C. Jeffrey

The use of coke in metallurgy, to any important degree, dates from the middle of the 18th century. Its utilization came most opportunely for European civilization. The forests of Europe, except in the most remote and inaccessible regions, had been largely fed, in the form of charcoal, into the smelting furnaces. For a hundred years—the middle of the 17th to the middle of the 18th century—there .was a stationary condition of population corresponding to the exhaustion of European forests. This situation, which was particularly evident in Great Britain, was due to the fact that the forests had been depleted and the practical utilization of coke had not begun. The coking industry is essential for our metallurgical industries, which in turn are basal to healthy economic progress. But coke is of great importance, not only on its own account, but for its byproducts, which enter fundamentally into all the arts of peace and war. The dyestuff industry and the manufacture of explosives are intimately connected with one another, as was shown by the recent war. The subject of coking coal, therefore, is well worthy the serious attention both of practical industry and the scientific investigator. The most valuable coking coals, from the metallurgical standpoint, are derived from the coals of highest ranks. Coals, for example, that have a carbon ratio of from 70 to 80 per cent. yield the most valuable coke for the blast furnace. The difficulty of investigating these coals, however, is great, for they are rather friable and delicate and possess a high carbon content, which makes them difficult to manipulate. They present, on account of their high carbon content, a considerable degree of opacity when examined, in thin sections, under the microscope. The tenderness of structure and blackness of such high-grade coking coals as those of Connellsville and the Pocahontas region make them extremely difficult to investigate. Two of my colleagues, who are taking part in this discussion, will describe the valuable results that have been reached by studying coal by the methods of the mineralogist. Doctor White and Doctor Thiessen have studied the structure of coal as determined from thin sections that

Jan 1, 1925

By Byron Bird

WHILE Mr. Fahrenwald has been working on the fundamentals of ore-dressing, in Idaho, the Northwest Experiment Station of the U. S. Bureau of Mines, in cooperation with the University of Washington, has been studying the corresponding fundamentals for the closely-allied subject of coal-washing. In this work many of the principles outlined in Mr. Fahrenwald's paper have been touched on, one important exception being that phase of his studies where conditions were approximated between those existing on a table and those existing in a hindered-settling classifier. During the past three years this work has been given over almost exclusively to a study of coal-tabling to devise better methods of cleaning fine sizes of coal, particularly the coals of the Northwest, which are very difficult to wash. One important result of this study thus far has been the development of a satisfactory hindered-settling coal classifier, now in use in several commercial plants. Recently table stratifica-tion has been the subject for study. This latter phase of the work with coal,. as well as the earlier portion dealing with hindered-settling classification, has in a measure paralleled Mr. Fahrenwald's work with ore. Without going into details about the results of the coal experiments, I shall merely say that, from a quali-tative standpoint, they are, in general, concordant with Mr. Fahrenwald's, but that from a quantitative stand-point the results, particularly those with, table strati-fication, are somewhat different. These differences may disappear as the work progresses-Mr. Fahrenwald is further ahead with his experiments than we are at the Northwest Station-but if not, the disparity would not be surprising, and indeed would be what one might reasonably expect when investigators work on two very dissimilar materials and use different apparatus and methods of study. However, this- mention of our coal-washing experiments is made only in passing. A principle of general application that may be estab-lished from Mr. Fahrenwald's paper is that different types of stratification should be used in successive' gravity-concentration processes to. obtain best results.

Jan 3, 1927

By Sidney H. Haughton

WHEN the white pioneers of the eighteenth and nineteenth centuries advanced from the coastal settlements of southern Africa into the interior of the subcontinent, they found it inhabited, more or less sparsely, by brown or black peoples mainly of pastoral habits but equipped with a fighting spirit and certain fighting weapons. Some of the tribes were smiths, others were miners and metallurgists; all used fuel, either industrially or domestically. Some of that fuel was wood, some cattle dung, and in some places the natives mined outcrop coal. Coal was first discovered by Europeans in Natal about 1840. After proper deliberation and after allowing due time for a consideration of all the implications, the Natal Government decided in 1881 (40 years after) to import an English expert to investigate and report on the discovery. Things then moved rapidly, and in what to a geologist is the remarkably short space of eight years, Natal collieries were producing at the rate of nearly 30,000 long tons per annum or 100 long tons per working day!

Jan 1, 1945

By C. T. Bischoff

This paper describes the results of testing with colorimetric methods, using "dithizone", soil samples taken over various known copper and zinc deposits covered by glacial till. Variation in results is shown for different depths and types of overburden as well as grade and type of deposit. Limiting factors for the practical application of this work are discussed. The method has proved successful for copper and zinc deposits under clay and fine sand with depths up to at least 30 ft but fails in coarse sand and gravel unless depths are very shallow. Swamps require penetration to the underlying subsoil for sample material. DURING the past few years geochemical testing for traces of heavy metals in water, soil, rock, and vegetation has aroused increasing interest. Various techniques for field and laboratory determinations have been described in the literature, as have some of the results of application. However, little information has been published regarding application to glacial terrain. Over 90 pct of the Canadian Shield is overburdened, resulting in high costs for mineral exploration once the outcropping ore deposits have been found. This has been largely responsible for the widespread application of mining geophysics in Canada, permitting concentration of effort on area or zones considered most favorable. However, geophysical interpretation has its limitations, since at least 90 pct of the structures indicated thereby contain no valuable minerals. A more direct approach is therefore highly desirable. If underlying base metal mineralization can be detected by sampling soil or vegetation at moderate cost this should prove of great help in locating new discoveries or extending known ones. A large proportion of Canadian ore deposits contain appreciable copper or zinc, even where these are not the principal economic metals. Consequently the field of application is a broad one. This paper deals with investigations along these lines with particular emphasis on soil sampling. The problems involved from the start were: 1—Which types of glacial soil, if any, would best lend themselves to testing, and conversely which types might be considered relatively hopeless? 2—Through what depths of overburden could significant mineralization be detected? 3—What sampling techniques would prove economically applicable? This included minimum depth of sample and maximum spacing that could be allowed.

Jan 1, 1955

By C. E. Shoenfelt

Operations ill Colorado oil fields in 1934 were not quite so extensive as in 1933, but much better results were obtained and one new oil field was discovered. In all, 26 wells were drilled, of which 9 were oil wells, 1 was a gas well, and 16 were dry holes. New oil production totaled 10,220 bbl. and new gas production totaled 33,714,000 cu. ft. This compares with new oil production in 1933 of 1238 bbl. and new gas production of 14,307,000 cu. ft. Dry holes in 1933 totaled 29 as conlpared with 16 in 1934. Oil was discovered in the Hiawatha gas field, Moffat County, in 1934 in the Mountain Fuel Supply Company's No. 4B Wilson, C. NE. NW. of sec. 23, 12N., 100W. This well was completed in a sand in the Wasatch (Tertiary) at 2304 to 2337 ft., after plugging back from 3797 ft. It made 20 bbl. of oil initially. No. 4B Wilson is the first well in the Rocky Mountain region to discover oil in commercial amounts in rocks younger than Cretaceous, and while it is not expected that Hiawatha will develop into an oil field of important proportions, eventually it may produce a considerable amount of oil as the gas pressure declines. The Hiawatha gas field was discovered in 1926, on one of six structures in what is known as the Vermillion Creek gas area. It is a northeast-

Jan 1, 1935

By Theron Wasson

Michigan's production of 17,301,000 bbl. in 1945, which is in line with previous years, has been maintained by extensions to old fields like Deep River, Adams, Fork, and others. There were a number of new discoveries but, as in the past, these are not given very much importance because enough drilling has not been done to develop their potentialities; however, judging by the past, some of them will develop enough production so that 1946 -will probably be in line with other years. Activities in Michigan were confined to the Basin area of the lower Peninsula, which has been under development since 1925.

Jan 1, 1946

Discussion of the paper of E. C. HARDER, presented at the Pittsburgh meeting, October, 1914, and printed in Bulletin No. 94, October, 1914, pp. 2573 to 2586. I. C. WHITE, Morgantown, W. Va.-I have seen some of the great iron-ore deposits described in this paper. -One of these in the State of Minas Geraes appears to be an immense mountain of iron ore about 2,000 ft. in height. All over its surface from bottom to top may be seen large masses of rich iron ore, varying in weight from a few pounds to several tons, and from all that one can judge without exploitation, the quantity of available ore is certainly very large in this particular mountain. Whether it will prove a mere surface deposit or shell, like the famous Iron Mountain of Missouri, is for future exploration to determine. The question of transportation is the main factor in determining the availability for exportation of these Brazilian iron ores. There is no coal in Brazil that can be manufactured into coke without expensive previous treatment, since the best of the raw coal in the States of Rio Grande do Sul, Santa Catharina, and Parana, contains about 35 per cent. of ash, of which about 6 per cent. is sulphur, and coal of this composition cannot be utilized in iron smelting without purification. When I was chief of the Brazilian Coal Commission in 1904 to 1906, I had a cargo of this coal shipped to Balk, Germany, and treated in the great coal-testing plant of the Humboldt Engineering Works, located just across the Rhine from Cologne. It was found that by crushing and washing the Brazilian coal, it yielded 33 per cent. of briquetting coal, containing only 10 to 12 per cent. of ash (of which 1 per cent. was sulphur), and 42 per cent. of slack coal, with 25 per cent. of ash and low in sulphur, so that about 33 per cent. of the Brazilian coal could be converted into coke of fair quality, as shown by the following average of three analyses, using air-dried coal, of briquets made from the Barro Branco coal bed, State of Santa Catharina: Moisture 1.56 Volatile matter 31.66 Fixed carbon 56.73 Ash : 10.05 Total 100.00 Sulphur 1.34 Phosphorus 0.003 B.t.u 13,395

Jan 4, 1915

By R.J. Anderson

Roughly, a crack in a casting may be considered, for the moment, to be due to fracture of the alloy resulting from the stress set up by the contraction in volume on passing from the liquid to the solid state. Cracks may be external or surface, internal or deep-seated, or incipient or so-called strain cracks. Draws may appear as depressions, unevenness, and "pinching in" of the surface of a casting. Roughly, draws are due to contraction in volume and are governed largely by the same factors as cracks. A casting may be cracked, however, without being drawn. Shrinkage is a foundry term and refers to the contractio~l in volume of a metal or alloy on passing from the liquid to the solid state. Patternmaker's shrinkage is the total contraction in volume (including liquid, solidification, and solid shrinkage) that occurs when an alloy is poured into a mold. The contraction in volume of aluminum is one of the principal factors affecting the occurrence of cracks, as will be shown later, and the question of shrinkage and its control requires careful study in any treatment of cracking in castings. In the case of sand and die castings, cracks have been attributed to a number of causes, but in the case of most light aluminum alloys, they are due to the large contraction in volume on freezing and the lack of its regulation or control. The most important factors are: (1) Contraction in volume; (2) composition of alloy; (3) quality of melting charge; (4) design of casting; (5) method of molding; (6) hardness of ramming; (7) method of gating; (8) hardness and characteristics of cores; (9) chills; (10) risers; (11) melting temperatures; (12) furnace used for melting; (13) pouring temperatures; (14) inclusions in alloys; (15) hot shortness of alloys; and (16) physical properties of alloys at high temperatures. Of these, the first, second, third, and eleventh to sixteenth involve ascertainable metallurgical facts; the remainder are largely matters of opinion, judgment, and technical knowledge of men experienced in the production of castings.

Jan 1, 1923

By R. J. Anderson

Roughly, a crack in a casting may be considered, for the moment, to be due to fracture of the alloy resulting from the stress set up by the contraction in volume on passing from the liquid to the solid state. Cracks may be external or surface, internal or deep-seated, or incipient or so-called strain cracks. Draws may appear as depressions, unevenness, and "pinching in" of the surface of a casting. Roughly, draws are due to contraction in volume and are governed largely by the same factors as cracks. A casting may be cracked, however, without being drawn. Shrinkage is a foundry term and refers to the contractio~l in volume of a metal or alloy on passing from the liquid to the solid state. Patternmaker's shrinkage is the total contraction in volume (including liquid, solidification, and solid shrinkage) that occurs when an alloy is poured into a mold. The contraction in volume of aluminum is one of the principal factors affecting the occurrence of cracks, as will be shown later, and the question of shrinkage and its control requires careful study in any treatment of cracking in castings. In the case of sand and die castings, cracks have been attributed to a number of causes, but in the case of most light aluminum alloys, they are due to the large contraction in volume on freezing and the lack of its regulation or control. The most important factors are: (1) Contraction in volume; (2) composition of alloy; (3) quality of melting charge; (4) design of casting; (5) method of molding; (6) hardness of ramming; (7) method of gating; (8) hardness and characteristics of cores; (9) chills; (10) risers; (11) melting temperatures; (12) furnace used for melting; (13) pouring temperatures; (14) inclusions in alloys; (15) hot shortness of alloys; and (16) physical properties of alloys at high temperatures. Of these, the first, second, third, and eleventh to sixteenth involve ascertainable metallurgical facts; the remainder are largely matters of opinion, judgment, and technical knowledge of men experienced in the production of castings.

Jan 1, 1923