Search Documents

By Horace H. Emerich

PrePatory Note.—The first part of this paper was sent to me by Mr. Emrich nearly nine months ago; and I held it, waiting for the second part, which he had promised to forward soon, so that I might submit the whole to some of his former professional associates, and advise him of their criticisms and suggestions before off'ering his work to the Institute. But, five days before the second part reached me, I received by telegraph the news of Mr. Emrich's sudden death. The paper has therefore not had the benefit of such a revision by the author as might have made it ill some respects clearer and more cornplete. Nevertheless, I believe that experts in the branch of metallurgy with which it deals will find it both original and suggestive.—A. Eilers. I. Partial ReFining iN the ANode-Furnace. During my connection with one of the large New Jersey copper-refineries, and probably before that period, from 15 to 30 per cent. of the copper-bullion received was the very foul, leady blister-copper produced from lead blast-furuace matte. It had been customary to mix a small part of this blister with each charge of purer pig-copper, in the effort to dilute it as much as possible before casting into anodes; but tank-house conditions were such that I was led to try making entire furnace-charges of this blister, and refining it as much as possible in the furnace—afterwards casting to anodes and refining elec-trolytically, in tanks and solution separate from the main bulk of the purer copper. In making this experiment, notes were made, for several furnace-charges, of everything thought to have a bearing on the question, and some interesting facts were brought out, both in the furnace-working and afterwards in the tanks.

Jan 1, 1913

By M. H. Sommer

MANY attempts have been made to develop a relation between the tensile properties and the deep-stamping qualities of metals com-monly used in deep drawing. These operations are generally performed cold and the metal is always stressed beyond the elastic limit. However, the problem cannot be readily solved without a proper investigation of (1) the relation between actual stress and actual strain in the plastic range and (2) the stresses that are set up in the metal during the process of deep stamping. Much work has been done in recent years to add to our knowledge on plastic deformation of metals and the shortcomings of the ordinary tensile test, particularly in the plastic range, have been sufficiently recognized. It has been widely acknowledged that the local contraction, which appears in a tensile test after the maximum load is reached, is not a general characteristic of the material but is peculiar to this form of testing. The plastic deformation of materials is explained by the slip of their crystals along certain planes and this rearrangement should be similar whether observed in a tensile, compression or torsion test, and if the results of any of these forms of testing show deviations, it must be due to other influences, as for example the local contraction in a tensile test. For this reason the tensile-test curve as obtained from the measurements taken on a tensile-test machine or registered by an autographic device has been supplemented by the so-called "actual stress-strain curve," which is constructed from the observed tensile-test data by eliminating the effect of local contraction and is in complete alignment with the stress-strain values obtained in a compression or torsion test. The actual stress-strain curve shows the increase of actual unit stress in relation to unit elongation beyond the yield point and

Jan 1, 1934

By Ezequiel Ordoñez

The two mining districts of Pachuca and Real del Monte, well known for their antiquity and the extraordinary richness of their veins, are situated, 3 miles apart, only 62 miles north of the City of Mexico—the first being on the western, and the second on the eastern slope of the Pachuca range of mountains which bounds the great valley of Mexico. Close to the celebrated mining region of Pachuca is located the city of the same name, capital of the State of Hidalgo, at 2460 meters above sea-level and 20° 07' 35" North latitude, with 35,000 inhabitants, the majority of whom work in the mines; the remainder being Government employees, merchants, and a small number engaged in less important industries. The city extends along both sides of the canada which carries the waters of the river called "Avenidas de Pachuca," the banks of which are united by four bridges at regular intervals. The attention of the traveler approaching the city is first attracted by the appearance of the mountains, barren of vegetation, bounding the city with rocky cliffs and steep declivities, the grades of which serve as foundations to the irregular and varied groups of houses. Above these are the dumps, and, close by them, the mouths of the shafts, covered with conical tile roofs. The smoke of the chimneys, the noise of the mills and the appearance of some of the constructions reveal at first glance the industrial character of the place. At the left of the entrance to the canada, the mountain of San Cristobal, celebrated for the famous vein of Xacal, one of the richest and earliest exploited in the district, rises 450 meters above the city.

Jan 1, 1902

By J. W. Spretnak, G. W. King

THE crystallography and morphology of 0-Al,Fe precipitates in an A1 + 0.5 wt pct Fe alloy have been studied by transmission electron microscopy. The alloy was cast in cylindrical ingots, 15 cm in diameter and 60 cm in length, and cooled slowly. The measured composition was 0.527 wt pct Fe, 0.001 wt pct Mg, and 0.003 wt pct Cu. Spectrographic analysis revealed no additional trace impurities. Thin slices were cut from the ingot and reduced by more than 95 pct by rolling to a thickness of 0.1 mm with no intermediate annealing treatments. These thin sheets were then vacuum-annealed for 1 hr at 612°C and air-cooled in their capsules. Thin foils for examination in the electron microscope were prepared by electropolishing. The precipitate is found in the form of oval platelets on the (110) planes of the matrix. The major axes of the platelets are parallel to the (110) directions of the matrix, and vary in length from 1/2 to 2 p. The thickness is about 1/10 p. Examples of platelets, both in the plane of the foil and normal to the foil, are shown in Figs. l(a) and l(b), respectively. lack' found that ?-A13Fe (more correctly All13Fe4) belongs to the monoclinic system. Using Black's structural data and simultaneous electron-diffraction patterns from the matrix and precipitates, the habit planes and directions were determined to be: (00l)? || (110)Al [100]? || [001]Al The orthogonal crystallographic axes of the precipitates are accurately in the habit plane, while the measured coincidences of the directions are only within 10 deg. The major axis of the platelet is parallel to [010] in the 0. This orientation corresponds to the direction of nearest registry of the lattices.

Jan 1, 1964

By Samuel L. Hoyt

THE present report represents that part of the work that has been done by the War Minerals Investigation, Manganese Section, of the Bureau of Mines, on the use of manganese alloys in open-hearth practice. The magnitude of the work and the number of people participating in one way or another make it difficult to acknowledge adequately the services of all who have contributed to the success of the work. It would, be amiss, however, to pass to the body of the report without mentioning the hearty coöperation and willingness to assist of the various manufacturing interests. With such a sympathetic attitude toward this investigation, our work was assured of success. Inasmuch as the unhappy circumstances that rendered this investigation necessary have now passed, this report is made in 'the hope that the results may prove of some permanent value to the peace-tine operation of our open-hearth industry. Broadly speaking, the purpose of the manganese investigation was to consider the most suitable means of utilizing our domestic supply of manganese and thus relieve, to the maximum extent possible, our shipping of the burden of importing manganese ores. It was not held that any decided shortage of manganese 'was imminent but rather that every legitimate means should be utilized for making our ship tonnage available to European service. While we have considerable metallic manganese in this country, it occurs largely as a low-grade mixture with iron or silica or with both. The open-hearth investigations, therefore, were carried on to determine the extent to which domestic or low-grade alloys could properly be substituted for high-grade alloys without materially impairing the steel production as to either quality or quantity. Also, it was held that such an investigation would yield valuable results to the steel industry as well as contribute, in no small way, toward

Jan 2, 1919

ONE of the interesting-though not unnatural-features of the whole Porphyry Copper development is the way in which the history of each property dovetails with that of one or more of the others. The same names keep cropping up as one digs into the accounts of events from 1900 to 1915. J. Parke Channing made examinations of Nevada, Ray, and Inspiration, as well as of Miami. Henry Krumb did important work in the early stages of the exploitation of Utah, Nevada, Ray, Braden, and Inspiration. Pope Yeatman was favorably impressed with the Braden property before he had ever visited it, when he saw a batch of Braden ore sent to the United States for testing. It reminded him immediately of Nevada Consolidated ore: indeed, he was unwilling at first to believe that it came from South America. And it was while working on the examination at Utah Copper that Philip Wiseman became enthused with the possibilities of the Ray mines. In 1905, Mr. Krumb, under the general direction of A. Chester Beatty, was strenuously engaged at Bingham, Utah, in arriving at an answer to this question: Should or should not the Guggenheim interests back Jackling to the tune of several million dollars to build the big concentrators at Gafield? Seeley W. Mudd was the Guggenheim engineer on the Pacific coast and in that capacity was indirectly responsible for the work at Bingham. At his suggestion Wiseman came up from Los Angeles as one of Krumb's assistants-at $5 per day, incidentally. A little later Mr. Mudd, in Utah on one of his visits, went down to Bingham. That evening in the old Hills Hotel in Markham Gulch he was going over reports with Mr. Krumb. Wiseman and some of the other engineers on Krumb's staff were present. During a breathing spell, Mudd expressed

Jan 1, 1933

By J. B. Clark, A. S. Yue

IN recent years, zone melting1 has been applied extensively to the purification of metals having a very low vapor pressure.2-4 This note describes the zone melting of a high vapor-pressure metal, magnesium, where the melting takes place inside a refractory surface skin. The effects of zone speed and the number of passes of the molten zone on the purification have been determined and the effective distribution coefficients for the principal impurity elements were calculated. A schematic diagram of the zone-melting apparatus is given in Fig. 1. The Vycor tube containing the graphite boat with its magnesium charge (an extruded rod—3/8 in. in diam, 10 in. long) is pulled through the stationary furnaces. A molten zone approximately one-fourth the length of the charge is produced under each of the two central furnaces. Two grades of magnesium were studied—electrolytic magnesium and magnesium with a very low alloy content. The spectrographic analyses of these materials, within * 5 pct of the values stated, are given in Table I. Molten magnesium will vaporize severely if protected only by an inert atmosphere such as argon. Consequently an enveloping container is required. In zone melting, a rigid opaque container surrounding the charge is inconvenient because visual control of the zone length is prevented. A more satisfactory container is a strong flexible skin on the surface of the metal charge which is capable of supporting the molten zone. SO2 reacts with magnesium to form a thin coherent surface film of MgSO, and MgO. An atmosphere of SO, of commercial purity was maintained during the zone melting. Enough oxygen was present within the system and the commercial SO, for the satisfactory formation of the protective skin, so that any rupture of the skin during the zone refining was healed immediately.

Jan 1, 1959

By G. W. Bain

The Canadian magnesite deposits are situated in Grenville township, about 8 miles from Calumet station, on the Canadian Pacific Railway, but the poor transportation facilities have hindered their development. Magnesite was discovered in the boulders near White Rock Lake by Rev. W. P. Boshart in 1900. Observing that the material of these boulders was more glistening and whiter in color than Grenville limestone, he sent a specimen to the Department of Mines, Ottawa. An analysis showed this to be almost pure carbonate of magnesia and of commercial value if present in sufficient quantities. That summer, Boshart and McAllister found numerous outcrops, both of boulders and of bed rock, that gave promise of being magnesite of a commercial grade, and decided that this mineral deposit, if developed, would rival that at Veitsch, Austria. So they procured options on most of the land on which they knew the magnesite occurred. But the transportation difficulties were too great for the deposits to be mined at the prices offered for the product. In 1907, T. J. Waters organized the Canadian Magnesite Co. and opened a quarry on the north half of lot 18, range IX, and later on lot 15, range IX, of the same township. A lirnestone kiln was erected and the calcined rock was hauled to Calumet. In 1914, the North American Magensite Co, took over the quarries and shipped both crude and calcined magnesite until January, 1923. During 1915, S. Melkman organized the Scottish Canadian Magnesite Co. and opened a quarry on lot 15, ranges X and XI, Grenville township. A light, narrow-gage railway connects this quarry with the C. P. R. at Magnesite station. but shipments are made only during the summer months. Numerous other quarries have contributed to the output of the district but the greater part has come from the open pits of the

Jan 1, 1923

By Charles E. W. Bateson

The Mojave mining district is situated in a group of small hills centering around Soledad peak, in the Mojave desert, Kern county, Cal. These hills are about 4.5 miles SSW. of Mojave, a railroad town at the junction of the Santa Fé and Southern Pacific railroads. The town of Mojave is about 50 miles north of Los Angeles, to which it is connected both by telegraph and by rail. The distance on the Southern Pacific railroad is 102 miles, covered in 3 hr. and 45 min. by express train. A sketch-map of this region is shown in Fig. 1. The Mojave district is relatively isolated. The only other mining towns in this section of California are Randsburg and Johannesburg, in a district (containing the well-known Yellow Aster mine) at the northern end of a low range of hills, which begins about 20 miles NE. of Mojave, runs nearly N. for 35 miles, and varies in width between 3 and 6 miles. As will be seen later, the origin and formation of these hills are not the same as those of Soledad peak. II. Climate and VEgetation. The climate and vegetation of the Mojave district are typical of the arid regions of the southwestern United States. During the winter and spring there is some rainfall, and the tempera ture is generally from 60" to 70" F. in the day-time. The rainfall in the spring is often very considerable for short spaces of time, and cloud-bursts are not infrequent. In summer there is continual sunshine, with temperatures, as a rule, exceeding 100" F. in the day-time, while 115" F. in the shade of a house is not at all unusual; but at night the temperature falls considerably. No rain falls during the summer. The vegetation

Jan 1, 1907

By W. H. Craigue

THE scope of this article covers only the mathematical principles involved in discounting to present worth future expected profits and it is believed answers definitely two questions, which were raised at a recent meeting of the Committee on Methods of Valuing Coal Properties, as follows: 1. The accumulative effect of carrying charges on the value of coal mines showing definitely the number of years beyond which the coal may not be mined at a profit and subsequent to which the possession of any unmined coal will be a liability rather than an asset. 2. The effect on the valuation of coal mines, in the presence of the carrying charges described in question 1, of an increase in plant capacity and production. In general, in considering these questions, it may be stated that the consideration of an increase in plant capacity and production follows as a matter of course after a determination has been made of the year beyond which no profits are to be realized (giving the carrying. charges accumulative effect, or in other words capitalizing the carrying charges, as shown hereinafter). For example, if it is determined that any coal that is unmined after 45 years will have no value or less than no value, the question immediately arises as to whether or not a plant should be constructed that would result in a yearly production great enough to extract the entire tonnage in a time less than 45 years, and if so the number 'of years less than 45 years that would, from a financial stand-point, be the most desirable, all under the assumption that the market for the product or the transportation facilities are such that the yearly production can be increased to the desired amount.

Jan 1, 1933

By Henry W. Edwards

Concrete is not a new, nor even a modern substance. Important structures built by the old Romans before the commencement of the Christian Era are to-day sound and solid— for example, the dome of the Pantheon in Rome, 142 ft. in diameter. I do not propose, therefore, to discuss the durability of the material, as in the mining and metallurgical business, structures, as a rule, are not calculated to endure for two thousand years. I do wish to urge, however, that much of the stone masonry around mines and smelters would have given better results if concrete had been used in place of stone. Concrete looks better; is stronger, cheaper, more durable, more quickly built, and above all requires no skilled labor, except that of the carpenter, who, like the poor, is always with us. Well proportioned concrete, that is to say, having well proportioned ingredients, may be safely relied upon to withstand a compressive or crushing strength of 50 tons per square foot. In most American cities, however, the building laws limit it to the absurdly low figure of 16 tons. This restriction is probably due to the political influence of the building-trades unions, which object strongly to its too free use, undoubtedly owing to its not requiring the services of skilled workmen. I hope to show that quite important construction work may be' undertaken without the aid of the gentleman with the trowel. In some of the isolated districts of the West and Southwest this is no mean advantage. The weight of good concrete, dry, is from 130 to 160 lb. per cubic foot. Ingredients of Concrete. Concrete is composed of four ingredients; viz., 1. Crushed Stone; 2. Sand; 3. Cement; and 4. Water.

Jan 1, 1905

By William L. Fink, Kent R. Van Horn

Aluminum forms not only binary compounds with most of the metallic elements but also forms many ternary or more complex constituents. Several of those occurring in the more important alloy systems have been identified under the microscope and the action of various etching reagents has been carefully studied.' The determination of the structure and composition of these complex constituents is a matter of some difficulty and little information is available. X-ray crystal analysis offers a promising method for the study of such constituents. First, and of considerable importance, is the possibility of recognizing the presence of a given constituent by means more positive than microscopic observation. Evidence can also be obtained concerning the nature and composition of the constituent in question and ultimately it should be possible, at least in some cases, to describe the structure including the relative locations of the various atoms. In this paper some results of an uncompleted study of the constituents of the aluminum-iron-silicon system are given and the methods employed are described. Inasmuch as iron and silicon are the chief impurities in aluminum, the constitutional relations of this system are of fundamental importance in the metallurgy of pure aluminum and its alloys; the system has been studied by several investigators and the more important contributions have been reviewed recently.² Fig. 1 shows the structure of the aluminum-rich alloys after prolonged annealing at 560" C., in accord with one of the most recent investigations.3 The ternary alloys examined in the course of the present investigation were all annealed at 550" or 560' C.; in fact, some of the specimens were the identical ones used by nix and Heath, who kindly supplied them for this work. Since the results

Jan 1, 1931

IT does not seem practicable to review all the other specialized curricula that have developed in the mineral industries field in so much detail as has been given for petroleum. Nor is it easy to draw a definite line between true curricula, leading to a designated degree in the special subject, and options, which may range from the mere substitution of one or two courses for others in the final years to differences so extensive as almost to amount to separate curricula. Even to attempt to catalogue all the options that have been offered at one time or another would require too much space. The remainder of this discussion, therefore, will be confined to three topics which seem to be of major importance. Mining and metallurgical curricula will be covered in a later chapter. GEOLOGY The first, from the historical view, is geology in its relation to the mineral industries. Previous chapters have made clear that in the early years of mineral industry instruction in the United States economic geology and mining engineering so overlapped one another that men who were by, training and experience economic geologists were appointed professors of mining, while men who had graduated as mining engineers sometimes developed into professors of geology. Even today men whose basic training was in geology as a pure science, and who perhaps took a doctor's degree in that subject, have attained such distinction in the mineral industries as to be universally accepted as "mining men," and their right to be regarded as mining engineers would- not be questioned, even though they did not take a degree in engineering. Nevertheless the distinction does exist, and has been made a concrete reality in recent years by the enactment of

Jan 1, 1941

Prof. H. S. Munroe, New York City : In his reference to cop per-dressing at Lake Superior, p. 325, Mr. Douglas says that " the .. concentration .. . has been carried out with greatest financial economy,... I do not say with the greatest economy of min eral." And again, on p. 344, referring to the same, " it would not pay to reduce the quantity treated, and increase hand-labor, in order to save a few hundredths of one per cent. of copper." Mr. Douglas probably has in mind the fact that the copper lost is all included copper, locked op in grains of sand. To save this, the rock must be crushed finer. If the mesh of the stamp-screens be reduced, the stamps will crush less; and thus we shall have to reduce the quantity treated in the mill per day, while the labor re mains the same per day, or is increased per ton, as he says. Submitting to the loss of copper, however, is not the only solution of the difficulty. A large quantity of rich sand is now collected by the jigs, and it would be easy to save so much of this material that the escaping sands would be quite poor. What is wanted at Lake Superior, and at many dressing-works in this country, is an efficient crushing-machine to treat the sands thus collected. Abroad, we have the Heberle machine and the Schranz mill for this purpose, the latter being the more successful. The Heberle grinder was tried at the Calumet and Hecla mill for crush ing these rich sands, with what success I do not know. I should like to ask Mr. Douglas if we have no American crushing-machine that will reduce jig-sands to a fine state of division

Jan 1, 1894

By Erwin H. Leeman, Raymond R. Rice, Gerald L. Hassler

In the past few years a great deal of preeise information has been obtained about the relation of natural gas to oil production1. The improvement of our understanding has been of great value, both in prolonging the life of wells and in providing a much needed technical background for the legal problem of proration. But there are two principal aspects of the problem of production. It is necessary to consider not only the energy available, in the form of compressed and dissolved gas and in the pressure of driving water, but also the tenacity with which the sandstone holds the oil. The amount of oil that each sand condition will produce under given conditions of gas content should be determined. Hitherto the effect of the sand has been judged by a study of the flow of each well coupled with a procedure for extrapolating the production curve; hut, as is well known to evaluation engineers, such production curves are subject to changes that are not well understood, and often are affected by outside disturbances. On the whole, the concept of "potential production" is vague principally because the influence of the sand in production is not known beyond the simple ideas of porosity and permeability. The permeability is a quantity that has only inference value where mixtures of gas and oil or of gas, oil and water are present. Excellent studies of the production of oil from reservoirs packed with unconsolidatcd sand are available2, but these studies treat largely of small-scale analogzes to a producing field, and the conclusions to be derived from them arc necessarily of a qualitative character because it is not known in what way these miniature oil fields resemble large ones.

Jan 1, 1936

By John T. Norton, Robert W. Lindsay

A number of detailed investigations of the physical changes accompanying age-hardening have raised the question as to the possibility of some phenomenon preceding the actual process of precipitation. There is considerable evidence to indicate that in the first stages of the aging process there is a pronounced distortion of the crystal lattice. This is particularly marked in duralumin. It would be of considerable theoretical interest to know the nature of this distortion as compared with that produced in other ways and to find out whether, in supersaturated alloys, it is a necessary antecedent to the formation of a second phase by precipitation. It was believed that a study of the age-hardening char-acteristics of a normally aged alloy compared with one that had been mechanically distorted might supply some useful information on these points. In addition, information would be obtained regarding the effect of a mechanical distortion on any subsequent stage in the aging process. Duralumin was chosen as the material for this investigation because the various aspects of its aging behavior can be shown in detail by suitable variations of the aging temperature. Also, probably more work has been done on this class of alloys than on any other. In spite of the many published results, it was felt that the experiments would be significant only if all of the work were done on samples from the same source and if they were examined under identical experimental conditions. Previous Work The many studies of the mechanism of aging in duralumin have been more or less crystallized by a series of papers by Fink and Smith1~2~3 and a recent paper by Cohen.~ The former authors believe that a simple precipitation theory is adequate to account for the various phenomena

Jan 1, 1939

By J. L. Jernegan

In a former paper laid before the Institute, entitled Lead and Silver Smelting in Chicago, I endeavored to give a description of the manner in which argentiferous lead ores from the far West were treated in that city, and also described the method employed in the desilverization of the silver-lead produced from the ores. It will perhaps be remembered, that very siliceous ores, principally from the Emma mine, Utah, containing over 40 per cent. of silicic acid, were then being treated at the works of the Chicago Silver Smelting and Refining Company in the reverberatory furnace, with the use of metallic iron, in the form of borings, as a precipitating medium for the lead ; and that the extraction of the silver from the resulting bullion was effected by the Balbach process. The Swansea Works, also the works at Brighton, just outside of this city, and those of S. P. Lunt, were at that time treating ore of a similar character by the same method. The inadequacy of the process for the ores then under treatment was, in a manner, pointed out by me in the paper above referred to. Since the time of its writing, many and important improvements have been made in the metallurgical treatment of western ores in Chicago. Most ores are now roasted previous to reduction, and the latter operation is conducted in the shaftfurnace instead of the reverberatory. Such is the fact at least at the Swansea Works, the largest in the city, and here it was where the first steps were taken in this direction. In selecting these works as the subject of this paper, I am in hopes that the description given of the varions metallurgical operations, as they are there now conducted, will serve to give an idea of the improvements introduced

By C. H. Herty

During the past few years frequent reference has been made to a certain type of iron known generally as "bad iron," "dirty iron," etc., both by steelmakers and producers of iron castings.' Open-hearth operators have claimed that such iron was entirely within the specified limits as to ordinary analysis but it was difficult to make good steel from it. It has been suggested that unreduced material in the iron is responsible, also that most trouble is experienced with the iron when the blast furnace is delivering a product whose analysis is more or less variable. Other reasons suggested are the use of scrap or borings, unsintered flue dust in the burden, a cold hearth, too high a proportion of unsuitable grade of ore, or the form of the carbon in the iron. Accordingly, a subcommittee was appoint at the fall meeting of the Open-hearth Committee of the Americ m Institute of Mining and Metallurgical Engineers held in Pittsburgh in October, 1926, to investigate the reasons for the occurrence of this bad iron and suggest methods for preventing its appearance. This committee enlisted the cooperation of the U. S. Bureau of Mines Experiment Station at Pittsburgh in undertaking a study of pig-iron quality as affecting the open hearth. The following is a report of the findings to date: Method of Testing Inasmuch as a "spell" of dirty iron occurs without warning and may be of short duration, it was deemed advisable to attempt to simulate the conditions existing before and during such a period and compare the quality of the steel made with the normal and with the dirty iron. The Bourne-Fuller Co., of Cleveland, which has a single furnace that supplies

Jan 1, 1929

For the first time in its history the Institute will hold a meeting in the State of Arizona. A few years ago Arizona stood third in the copper-producing districts of the United States. Since that time, with the development of porphyry mines, the output has gone up with great rapidity until it not only is the leading district, but its output at the present time is at the rate of nearly double the Montana output, which now stands second in the list. In connection with this .development, most interesting departures have been made in methods -of mining, concentration and smelting. Principles of mining and metallurgy of the greatest interest will be covered by papers which will' appear in the Bulletin and be presented at Technical Sessions, while ample opportunity will be afforded for those who go to the meeting to see all the points of interest .to them. In addition, members will be well rewarded by the marvelous natural features to be seen on the trip, including 'the petrified forests, the cliff dwellings on the Apache Trail and the Grand Canyon of Arizona. It is planned to start the special train from New York, but members and guests may join the special at other points en route as indicated by the following schedule: ITINERARY . , Thursday, September 14th Lv New York, Grand Central Terminal.. ............... 5.30 p. m. Dinner in dining car a la carte New England Members via B. & A. R. R. . Lv Boston. ............. (Regular train). ............. 2.00 p. m. Lv Worcester. ........... (Regular train). ............. 3.12 p. m. , Lv Springfield. ........... (Regular train). ............. 4.37 p. m. Dinner in Dining Car a la carte Ar Albany.. ......... .New York Central R. R.. ....... 7.45 p. m. Lv Albany .......................................... 9.00p.m. Lv Schenectady.. .................................... 9.32 p. m. Lv Utica ............................................ 11.08~.

Jan 8, 1916

By M. L. Requa

This paper is abstracted from the report of the Appraisement Committee of the Independent Oil Producers' Agency, of which the writer was Chairman. The other members of the committee were M. V. McQuigg and R. S. Haseltine. To Thomas Cox, engineer in charge of the investigation, and to his efficient staff of assistants, is due the credit for the detail work necessary in carrying out the plan of the Committee. It treats only of the valuation of the lands, wells, and piping, without going into details of equipment and other features. It was recognized, early in the operation, that the value of oil lands was the value of oil to be extracted, and marketed, less the costs attendant thereon. Referring this back to the costs in cents per barrel, it became obvious that surface improvements, absolutely necessary in the production of oil, from wells then drilled; had no separate and independent value aside from the value of the land, but that any excess equipment, not necessary for the production of oil from present wells, such as drilling tools, well casing, etc., should be given a present condition value. In valuing the properties of the Independent Oil Producers' Agency, the Committee has considered the following facts: 1. That from each property there will ultimately be. produced a certain total quantity of oil. 2. That in the production of that oil a certain total quantity of money will be expended. 3. That a certain total amount of money will be received from the oil. 4. That the total net receipts will be the total gross receipts less the cost of development and production. 5. That the present value of the net receipts must be such an amount that when invested by a purchaser it will be returned with 8 per cent. interest additional during the life of the property.

Jan 2, 1918