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By R. J. Hafsten, E. S. Davenport, R. A. Grange

The influence of austenite grain size upon the hardenability of steel is now fairly well understood; for a given austenite, increasing the grain size increases the depth of hardening, and, since the latter is related to the fundamental transformation behavior of austenite, it follows that austenite decomposition must, in general, be retarded by increasing grain size. To date, very little quantitative information bearing directly on the effect of austenite grain size upon the progress and result of isothermal transformation has been published. Davenport and Bain,' and Zimmerman, Aborn and Bain2 have shown that the transformation is definitely relarded in hypereutectoid plain carbon steels at temperatures near and above the upper region of rapid transformation (Ar') when the austenite grains are increased in size. More recently, Griffiths. Pfeil and Allen3 investigated the effect of a series of different heating (austenitizing) temperatures upon the progress of isothermal transformation at 1245°F. (675°C.) and 745ºF. (395°C.) in a medium carbon, low-alloy steel; while they reported no measurements of the austenite grain size, their results suggest that increase in grain size retards austenite transformation at 1245ºF. (675°C), but has no appreciable effect at 745°F (395°C.). The present paper deals with the results of a study of the isothermal transformation of austenite in a single commercial alloy steel in which a fine-grained or a coarsegrained state was induced by appropriate selection of austenitizing temperature. The data are presented in the form of isothermal transformation diagrams, which clearly show that coarsening the grains lessens the rate of transformation of austenite to proeutectoid ferrite and pearlite—that is, at temperature levels above about 1000°F. (540°C.)—but is without significant effect at lower temperatures where the transformation product is bainite or martensite. It is to he presumed that the foregoing statement would be valid, at least in principle, for many other grades of steel; it confirms again that the mechanism of transformation to a pearlitic structure is fundamentally different from that to an acicular structure. A number of related observations were made, which seem to throw some light on the transformation process as it takes place in alloy steels, particularly at temperature levels in the vicinity of 1000ºF. (540°C.), where the transition from lamellar to acicular structures occurs. These data are discussed briefly in the belief that they may lead to a clearer understanding of this aspect of the subject. Material and Experimental Procedure The material investigated was a cornmercial grade of S.A.E. 4140 steel, the composition of which was as follows: 0.37 per cent C, 0.77 per cent Mn, 0.98 per cent Cr and 0.21 per cent Mo. It was hot-rolled to a 1 1/8-in. round bar and normalized by air-cooling from 1800°F. (980°C.).

Jan 1, 1941

By J. L. Lamon, W. Crafts

Study with the electron microscope of the carbides in vanadium-chromium-molybdenum steels after tempering up to 1000 hr at 600 teelsto 1400°F confirmed that alloy carbides are formed at the secondary hardening temperature by decomposition of the plate-like iron carbides. It was also demonstrated that vanadium carbide persists as much smaller particles than do chromium- or molybdenum-bearing carbides. Conditions conducive to the formation of fine vanadium carbides are indicated to be favorable for high temperature strength. IN order to determine the effects of long exposure at high temperatures on vanadium-bearing steels, a survey has been made of their hardness and carbide structure. The behavior of carbides in the tempering of martensite was studied by X ray diffraction and electron microscope examination of electrolytically extracted residues in greater detail than in an earlier investigation.' A group of steels with about 0.25 pct carbon and containing chromium up to 5 pct, molybdenum up to 1 pct, and vanadium up to 1 pct was either quenched or annealed and then tempered for peri- ods of up to 1000 hr at 600° to 1400°F. Their hardness after tempering agreed with the Hollomon and Jaffe2 relation of equivalency of time and temperature, and with the degree of secondary hardening predicted from composition. Further, the appearance of the carbides indicated that the time and temperature equivalency relation was also applicable to the degree of carbide development. The mechanism of the tempering of martensite was demonstrated more clearly than in the earlier study. It was confirmed that carbides develop from martensite as poorly defined plates of the Fe2C type carbide followed by thickening of the plates with a transition to Fe,C. Finally the plate structure deteriorates into a lacy mass from which alloy carbides emerge as chunky particles that grow slowly with further increase of tempering temperature. Vanadium carbide derived from tempered martensite was found in characteristically small particles that tended to grow very slowly. The addition of chromium or molybdenum to a steel with predominant vanadium carbide tended to introduce carbides of a chromium- or molybdenum-bearing type having a somewhat larger particle size. The Cr,C, type carbide particles were larger than those of the V,C, type and somewhat smaller than the carbides in steel containing both Cr,C and M,C. Similar observations were made of the carbides in the pear lite of annealed steels. It appeared that high temperature properties would be benefited by the retention of the fine carbide particles that result from a balance of composition and heat-treatment designed to produce a maximum amount of vanadium carbide. Procedure: The steels used in the investigation were made with a base of Armco iron in a high-frequency furnace at the Union Carbide and Carbon Research Labs., Inc. The steels were deoxidized

Jan 1, 1951

By J. D. Pennock

The different samples of brick examined were Grecian magnesite, American magnesite; silica brick and coke-oven tiling made in Belgium and used in retort coke-ovens. The Grecian magnesite was furnished by a New Pork party. The American magnesite and the silica brick were furnished by a manufacturing company in Pittsburgh. From these brick were made cylindrical cores, '79 inches long and 15/8 inches in diameter. At one end of each was drilled a hole about 1/4-inch in diameter and 11/4 inches long, into which the thermometer was inserted during the experiment. Conductivity.—The apparatus used for determining the conductivity, as shown in Fig. 1, is a sheetriron drum, 18 inches in diameter and 8 inches high. In the center is a little combustion-chamber with walls of split fire-brick, 39 inches square and about 6 inches high. The fire-brick, however, pass through the drum to the table on which the drum stands. The cores are placed horizontally, half-way between the top and bottom of drum and on the line of diameters at right angles. In the four walls of the combustion-chamber are cut holes just large enough to allow the cores to pass through. The cores extend

Jan 1, 1897

Henry Louis, Newcastle-upon-Tyne, England (communication to the Secretary): I think very highly of the novel and ingenious device of Prof. Richards for analyzing the movement of the various elements of the jig; it is a method that certainly seems to promise valuable results, if we could only make certain that these various indicator-appliances have no effect upon the action of the jig. I would like, however, to suggest that in future experiments the connection between the plunger indicator-rod and the pencil should be made by means of parallel motions, so as better to reproduce the rectilinear motion of the piston. I should expect, if this were done, that the " curve " of the plunger in the Harz jig, at any rate, would be represented either by straight lines or else by quite regular curves, according to the method by which the plunger is set in motion; the apparent combinatioil of straight line and curve seems difficult to explain. With respect to the water-curve, I am afraid I am completely at fault, but no doubt Prof. Richards can explain my difficulty. In Fig. 2, the areas of the screen-side and the plunger-side of the jig are equal. If the piston be a fair fit and the bottom of

Jan 1, 1897

By M. Khorouzan, L. Thomas

Designers of semiconductor devices have been strivi,ng to resolve problems associated with Au-A1 alloys in bonded in.tercomzeclions. One approach now being- used is that of waintaining a physical seyav-atioz between the two metals in bond areas. This is accolrzplished by alunzincnz-plating a bonding area on the tips oJ the kovar leads and using alcminurn wires to join the senzicondictor device to the leads. The portion of the kovar lead which is on the externul side of the sealed package is gold-plated to provide an oxide-free surface for soldering or welding. A discoloration condition originally thought to be sinilar to purple plague, occuving in the yluled uluninur bonding area after package sealing, has been investigated to determine its efiects ipm bond integrity. Electron-micro-probe analysis determined that no1 only gold, but lead, zinc, and silicon were also present in the discolored area. A series of samples conlaining' conkrolled umonts of these inzpitrities weve prepared and subjected to a sil.zuluted sealing process. The investigations swcued that, of the contawiinants, only zinc toas detrinenlul to Lhe bond integily. The discoloration condition itself was found not to be detrimental to the bond integrity. DESIGNERS of semiconductor devices have been striving to resolve problems associated with Au-A1 alloys in bonded interconnections. One approach now being used is that of maintaining a physical separation between the two metals in bond areas. This is accomplished by aluminum plating a bonding area on the tips of the kovar leads and using aluminum wires to join the semiconductor device to the kovar leads. The portion of the kovar lead which is on the external side of the sealed package is gold-plated to provide an oxide-free surface for soldering or welding. Contamination as evidenced by discoloration of the aluminum-plated area was observed in a number of integrated circuits undergoing examination for defect characteristics which cause electrical failures.' This paper contains the results of an investigation to determine the nature of this discoloration, its cause, and its effect upon the integrity of the interconnection bond. I) THE NATURE AND EXTENT OF ALUMINUM-BOND CONTAMINATION The initial hypothesis in the investigation was that the discoloration was caused by reaction of the aluminum film with some unknown contaminants during the sealing of the hermetically sealed integrated-circuit flat package. The package is a rectangular ceramic container sealed with glass which surrounds the kovar leads as well as joining the top to the bottom. The seal is made hermetic by heating and cooling the package to devitrify the glass. In the case of the packages under investigation, the hermetic sealing had been accomplished with dry air as internal atmosphere. The apparent effect of contaminations as observed by microscopic examination was the formation of surface oxides having variations in color encompassing the whole spectrum of visible light. The contamination appeared to be related to one of the more notorious examples of these colorations, the so called purple plague.' In addition to purple plague, Fig. 1 shows the tarnish in the luster of the aluminized surface in the bond area which had been observed in many of the integrated circuits. To identify the contaminant in the bond area electron-probe microanalysis techniques were used.3 Fig. 2 shows the result of this analysis. The contaminants identified were gold, aluminum, zinc, lead, silicon, and cobalt. Fig. 2(a) is a back-scatter display of the area under study. The back-scattered electrons provide a general indication of the distribution of elements in the specimen surface. Elements with higher atomic number scatter more electrons back from the surface and are seen as light areas in the picture. The sample current, Fig. 2(b), is the amount of current conducted by the specimen as a result of electron-beam striking it and is an indication of element distribution. The Sample current is the reverse of back-scatter and complements it. Other pictures in Fig. 2 are produced by characteristic X-rays generated by the elements, allowing the isolation of the element of interest. The isolated element appears white and all other elements are dark. In this manner a comparative study provides a correlation between different surface areas and the elements which are in these areas. The area covered by the gold film, Fig. 2(c), shows that the boundary between the gold film and the kovar is not sharp as expected and that some sort of diffusion has taken place. Fig. 2(c) shows that some gold particles have been carried to the bond area and are in the proximity of the bonded wire in spite of the presence of a physical barrier in the form of the un-

Jan 1, 1967

By J. H. Jackson, P. D. Frost, C. H. Lorig, L. W. Eastwood, A. C. Loonam

It is well known that for equal weights of material, thin sections of the lighter structural alloys are more resistant to buckling under a compressive stress than thin sections of more dense material. Therefore, structural parts having the same resistance to buckling stresses are generally lightest when they are made of magnesium alloys. Consequently, there is considerable interest in the development of strong alloys having densities equal to or lower than that of magnesium and strength-weight ratios equivalent to those of the strongest aluminum alloys. The development of commercial magnesium-base alloys has been very successful, and their importance among materials in the structural field has been amply demonstrated. However, an even wider structural application of magnesium alloys might be effected if improvements could be made in the cold rollability and cold-forming characteristics. Such improvements, along with production of less directionality in properties. could be effected if the hexagonal close-packed lattice of present alloys could be replaced with a cubic lattice. In 1942, a project, having as its objective the improvement of some of the characteristics of commercial magnesium-base alloys, was initiated at Battelle Memorial Institute under the sponsorship of the Mathieson Chemical Corporation. At that time, one of the authors,* then Chief Metallurgist for the Mathieson Chemical Corporation, postulated that the addition of lithium to magnesium in sufficient quantities to change the crystal structure of the resultant alloy from a hexagonal to a body-centered cubic lattice should produce a magnesium-rich alloy which would have the desired improvements in cold-working characteristics with less directionality in properties. To test this view, a series of alloys was made and was found to have many of the attributes that were predicted. The view that magnesium-lithium alloys were of structural interest was also held by others. In 1943 and 1945, Dean and Andersonl,² obtained patents on magnesium-base alloys containing from about 1 to 10 pct lithium, from about 2 to about 10 pct manganese, and the balance substantially all magnesium; and on magnesium-base alloys containing from about 1 pct to about 10 pct lithium, from about 2 to about 10 pct manganese, from about 0.5 to 2 pct silver, and the balance substantially all magnesium. They noted that an alloy containing 83 pct magnesium, 10 pct manganese, 5 pct lithium, and 2 pct silver could be cold rolled by any of the usual methods and that this alloy was considerably harder and stronger than most other magnesium-base alloys heretofore available. In 1945, Hume-Rothery, et al.,3 predicted that magnesium-lithium base alloys should be soft and ductile and that such compositions, to which was added a third element for the purpose of producing a precipitation-hardening type of alloy, should be ductile, strong, and lighter than magnesium itself. Hume-Rothery investigated the binary magnesium-lithium and ternary magnesium-lithium-silver equilibrium relations and criticized the existing equilibrium diagrams. The binary magnesium-lithium equilibrium diagram has also been investigated by Grube, Von Zeppelin, and Bumm, Henry and Cordiano, Sal'dau and Shamrai, Hof-mann,' and Shamrai.8 The work of most investigators agreed with that of Grube, whose constitution diagram is shown in Fig 1. From the standpoint of development of structural alloys, the room-temperature equilibrium relations are of great interest. An examination of Fig 1 reveals that, from 0 to 5.7 pct lithium, the existing phase is alpha, which is a solution of lithium in hexagonal magnesium. The boundary between the alpha, and alpha plus beta regions, occurs at a Mg/Li of 16.5, corresponding to 5.7 pct lithium by weight. Between 5.7 pct and 10.3 pct lithium, there exists a mixture of the alpha phase (lithium dissolved in hexagonal magnesium) and the beta phase (magnesium dissolved in body-centered-cubic lithium). The boundary of the alpha plus beta and beta regions occurs at a Mg/Li of 8.7, corresponding to a lithium composition of 10.3 pct. Much of the work described here was directed toward obtaining an alloy made up of a large proportion, or entirely, of the body-centered-cubic beta structure. In his early work, Loonam found that specimens of lithium-bearing alloys were very malleable. Ingots of alloys prepared at that time were extruded to 3/8-in. diam bars, and the mechanical properties and the effects of heat treatment were then determined. These data are given in Table 1. The outstanding ductility of the alloys, combined with their moderately high strength, evoked considerable interest.

Jan 1, 1950

By CHARLES E. W.

I. LOCATION. 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 ridge 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, 1906

By M. G. Driessen, H. E. Criner

Possible applications of cyclone thickeners for: (1) clarification of the washery water and, (2) recovery of fine coal from the plant bleed. The paper shows: (1) that it is possible to remove all particles including the very finest, from the circulating water, thus obtaining a closed water system and, (2) that reduction of the ash content of the solids of the plant bleed is feasible by means of cyclone thickeners. Performance data for different size cyclones is given in the form of graphs.

Jan 1, 1950

By Peter Q. Nyce

Law is as old as civilization. In its early stages the so-called law of the jungle, "the survival of the fittest," was entirely operative. Man was quite largely a law unto himself and was likewise his own lawyer. As civilization developed and individuals segregated themselves into bands or communities, man-made laws became a reality, the individual sacrificing certain privileges for the benefit of the band or community in which he was privileged to live. Our present system of law is a continued development of that process. Very early in this development the exigencies of the occasion called into being classes of individuals who were given to study the laws then existing, and this group became known as lawyers. They advised what could or could not be done under existing laws. They were the aggressors in formulating new laws and principles under which the communities must live. Concurrently with the development of the law and the lawyer, the engineering profession was born. In our early civilization, each man was his own engineer; he built his own home, constructed his own bridge, and provided his own means of conveyance. As civilization became more complex, technical study was required to consummate projects and thus meet the requirements of an expanding community. The engineering profession assumed this burden. Both groups were human and thus susceptible to human mistakes and errors. It was Macaulay who said: "The world generally gives its admiration not to the man who does what nobody else ever attempts to do, but to the man who does best what multitudes do well." BiRth of Petroleum Industry In 1859, by the completion of the Drake well in Pennsylvania, the petroleum industry as we know it was born. Its rapid progress since that time has been both extraordinary and remarkable. The zeal of the individual operator to secure all possible oil in the shortest time, even to the extent of bringing into possession a part of the oil underlying a neighbor's property, developed unnecessary drilling, wasteful methods of recovery, great loss of gas, the early abandonment of property with much unrecovered oil thereunder. Such methods, plus

Jan 1, 1931

By W. McA. Johnson

THE work of J. E. Johnson, Jr., on the effect of small amounts of oxygen in cast iron in increasing its strength and resistance to shock, is of interest from the technical and scientific standpoints. The following exposition of the theory carries Mr. Johnson's explanation further and, in my opinion, will disclose certain related phenomena and perhaps shed further light on the subject. Some facts, so novel in character as to excite incredulity, have been accepted finally by many metallurgical authorities. One of these is that oxygen to the amount of 0.060 per cent. in cast iron gives it a breaking strength of 3,500 lb. per square inch, compared with a breaking strength 2,500 lb. per square inch in cast iron of the same composition with re-ect to elements other than oxygen, but having only 0.010 per cent. oxygen. The "oxygenated" cast iron, even if made in a coke furnace, has properties equivalent to the best charcoal pig iron. Mr. Johnson has also established the fact that the variations in combined carbon cannot account for the results. By microphotographic evidence he has shown that in oxygenated cast iron the graphite particles are dense and spherical, while in well-deoxidized cast iron the graphite particles are flaky and leaf-like. It is just a matter of common sense that iron of the latter structure is much weaker than the former. The analytical and microscopical work has been done with care and there is no doubt in my mind about the accuracy of the, experimental results. In this paper then, we shall consider it as accepted that small amounts (0.060 per cent.) of oxygen increase the strength of cast iron by producing a structure in which the round and solid particles of graphite are surrounded firmly by a principal matrix of ferrite. The purpose of this paper is to show that the reason why the graphite particles are round is founded on the fact that the particles of any precipitate are made denser and harder by the presence of a reagent having a solvent action on the precipitate. This can be stated as a law, although I have never seen it so given in any textbook.

Jan 2, 1916

By Harold V. Pearce

THE plant of the Boston and Colorado Smelting Company, at Argo, Colo., has not received special notice in technical or scientific publications for some time past. Dr. Peters' described the development of the reverberatory furnace used at Argo, but he dealt almost exclusively with the increase in size and the corresponding gain in capacity. Since the time of his description the changed conditions have led to a modification of the former smelting practice, and this modification forms the basis of the present paper. No claim is made for personal originality in connection with these improvements, in fact, I expressly disclaim any such intention, since nearly every successful step in the development of the process now used at Argo has been suggested by Dr. Richard Pearce at various times during the past 12 years, though perhaps in a different manner of exe¬cution. These changes would undoubtedly have been made before, were it not that many problems of greater metallurgical importance and momentarily of more urgent need thus had to be solved. At the time to which I refer, economic conditions demanded mainly an increase of capacity. Moreover, the determination and placing of exact losses in smelting were not so imperative as they now are. About three years ago, the time of my appointment to the - management of. the works of the Boston and Colorado Smelting Co., the great decline in the price of copper occurred; the Argo plant, in common with all others engaged in the copper-industry, lost heavily in the market-value of the stocks on hand of ore and furnace-products. Added to this was the unfortunate circumstance that the copper-supply of the Argo plant from general sources began to dwindle; in fact, it almost entirely ceased. About this time the smelting-plants in the west-

Mar 1, 1905

By H. P. Stüwe

HE recent papers of Aust and Rutter112 have again brought to mind the importance of certain "special" orientation relationships between the lattices of two fcc crystals on the mobility of the grain boundary separating them. No theoretical treatment of this problem has been offered till now. The only principle published so far that has given an indication why certain orientation relationships should be "special" is the counting of "coincidence sites" according to the suggestions by Kronberg and Wilson.3 The "coincidence plots" published by these authors show, for instance, that two fcc lattices rotated by 38 deg around a common (111)-axis have 1/7 of their lattice sites in common. Such an orientation relationship is also characteristic for high boundary mobility. The accuracy of the orientation relationship needed for high mobility is not too rigid. Deviations up to 10 deg from the ideal orientation seem to be tolerable as can be gathered from the experimental data.'j4 The auestion arises, then. how the density of coincidence sites will be affected by a deviatioi from mathematical accuracy. This can be checked by a simple model. Two sieves are prepared, the arrangement of the holes corresponding to lattice sites on a (111)-plane in a fcc crystal. They are placed upon each other, Fig. 1. One is kept fixed, the other is rotated around an axis pushed through one hole in common to both. The light falling through holes of both sieves is then a measure for the density of coincidence sites. If the diameter of the holes is very small, light intensity is contributed only by holes the centers of which coincide "exactly." If the diameter of the holes is rather large, some intensity will be contributed by

Jan 1, 1962

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

By Carl H. Beal

The most important factors that should be given consideration in the valuation of oil lands are: (1) the amount of oil the property will produce; (2) the amount of money this oil will bring (based upon the future prices of oil); (3) development and production costs; (4) the rate of interest on the investment; (5) the retirement or amortization of invested capital; and (6) the salvage or "scrap" value of the equipment when the property is exhausted. These factors are of varying importance and some of them may not enter all valuation problems, but most of them should be given consideration in any valuation even though only a rough estimate of the value of the property is desired. The value of a property may be changed over night by the completion of important test wells, by the sudden water flooding, or by a change in the price of oil. The best a petroleum engineer can give is the value of the property under the conditions existing at the time the appraisal is made with a fair forecast of future action of the wells and of the price of oil. Our experience in the scientific valuation of oil lands is not broad and there is very little published information on the subject; it, therefore, becomes necessary in studying such problems to form comparisons with the factors involved in the valuation of mines—the closest parallel. One of the reasons for the lack of substantial progress in oil-land valuation methods has been the necessity of making an estimate of the future production of the oil property to be valued. Oil men and accountants have not generally conceded that such estimates could be made with any degree of accuracy. It has been shown, however, in several recent publications that with certain data available reasonably close estimates can be made. The accuracy of an appraisal depends chiefly on the accuracy of the estimates of future production and of the future price of oil. The accuracy of the former is sometimes necessarily based on geological inferences. Geology is not an exact science and geological data in connection with oil production cannot always be mathematically evaluated.

Jan 1, 1921

By George Wolff

To THE average person, the purport of the items and figures on the balance sheet of a mining company are hazy and the real financial condition of the company is cloaked in obscurity. It is also likely that the satisfaction of the stockholder in his investment, as well as the determination of the prospective investor, rests more on the reputation of the company, his confidence in the management, the stated earnings per share and the dividends paid, than on a comprehension of the information contained in the balance sheet. The balance sheet of any company at best can only closely approximate the true financial condition as of a given date. Any item of asset, except cash, can probably be altered if another's viewpoint is applied. It is difficult and expensive to drill and explore an orebody to determine the entire tonnage of ore therein. Those inherent difficulties render it practically impossible to prepare an absolutely correct balance sheet of a mining company. It is possible, however, to present the facts of a mining company more intelligently and comprehensively than is usually done. With this, in mind, a balance sheet of an imaginary mining company is submitted, with supporting schedules. The same fundamental principles hold true whether we consider a large or a small company. Less complexity is involved in dealing with the affairs of a smaller company. Therefore, for this purpose, the assumed company operates but two mines and a smelting plant. It has been deemed advisable to introduce the features of the operation of a mine acquired prior to March 1, 1913 and one after that date. The presentation therefore is concerned in one mine with the appraisement as of March 1, 1913 and in the other with the appraisement by reason of discovery. A consequential factor pertains to dividends paid from depletion reserves and therefore free of surtax to the stockholders. While supporting schedules, when necessary, give details of certain items on the balance sheet, it seems desirable to give further explanations with respect to some of them. This seems to be important because some mining companies do not treat the items as indicated on the statements submitted.

Jan 1, 1928

(Butte Meeting, August, 1913.) IN metallurgical circle it is. known widely, but somewhat vaguely, that the ease of reduction of metallic .oxides. depends largely on the way they have been prepared. It is likewise known that. different forms of carbon have different and greatly varying reducing powers. It is the purpose of, this paper to show somewhat more definitely and scientifically these facts. Sonic years ago the writer published an account of pyrometric determinations of the reduction temperature of zinc oxides variously prepared and of several kinds.1 In said paper it was shown that the temperature at which zinc oxide evolves zinc according to the equation, ZnO+C? Zn+CO depends upon the nature of -the two reacting bodies. The determinations bad a range of accuracy of from 2°to 6°C.,whereas differences were found to, amount to an extreme of 90° C. So the differences are real ones and must have a definite cause. The equation of boiling water, (H2 O)4 = 4 (H20) has a fixed temperature for? equilibrium of 100° C. at 760 mm. pressure. In general, all equations reacting in the liquid or the gaseous phase have well-defined constant physical conditions which govern the equilibrium point and reaction velocities.

Jan 7, 1913

By Herbert Hoover

THE desire of the engineers over the last few years, growing out of their contact with public affairs, that this Institute should take a wider vision than the narrower field of technology and should apply its skill to the development of civic problems which must lay in their foundation on engineering, has led to this discussion today. Some of us in San Francisco, in discussing this question of the relation of the engineers to civic problems, raised the question as to whether or not in this national emergency it was not the duty of the Mining Engineers to bring, forward their combined skill and knowledge and experience to bear upon the problems of the coal industry. This industry, considered as a whole, is one of the worst functioning industries in the United States. It is equipped with capital, with machinery, plants and labor to a peak load at least 20 per cent. above the average necessity. This peak load, therefore, involves the use of probably 100,000 men diverted from other productive industries; it involves an intermittency of employment through its whole personnel that results not only in a long train of human woe, but results also in a higher cost of coal -to the general public. The problem of whether the industry can, by any device, be cured or even partially cured of its intermittency, is solely an engineering problem. It is therefore an apropos problem for this Institute. Your President and myself and others thought that we could best develop this discussion by calling upon men of large experience in the particular branches of the soft coal industry, to bring the facts in front of this general committee, with a view to an exhaustive discussion and perhaps subsequently the appointment of a committee to formulate those facts and such remedies as may be developed into a report that would be of constructive value.

Jan 3, 1920

By A. Thielen

In experiments for the production of steel the principal problem has always been the introduction into, or removal from, the iron of a definite quantity of carbon. Although the solution of this problem had engaged a more or less blindly and empirically directed effort for a long time, it was only with the development of analytical chemistry that the rôle which carbon plays in the constitution of steel was disclosed in its full significance, and that many of the problems confronting the steel-maker were thereby more clearly defined than before. For a long time, and to a certain extent even to this day, the percentage of carbon in steel has been the controlling means of deter mining its quality and hardness. In many cases the percentage of carbon alone has been relied on for judging large consignments, such as the large deliveries of wire-billets and blooms to America during the past twenty years; and though to-day the influences of the other constituents are recognized and many other considerations are taken into account, and though, moreover, some special steels, such as the Hadfield manganese steel, apparently dispense to a certain extent with the assistance of the carbon, yet fix our Bessemer, Thomas, Siemens and crucible steel the carbon still remains one of the most important constituents, and I venture to say it is indispensable. In order to produce in the Bessemer converter a steel of a certain required percentage of carbon, two methods, as is well known, present themselves. By the one the decarburization process is stopped when the desired carbon limit in the bath has been reached ; by the other the bath is completely decarburizecl, and then a calculated amount of carbon added in the form of spiegel, ferro manganese, etc. In Germany the latter method only was adopted, and it was retained when the Thomas-Gilchrist process for the production of low-Phosphorus steel from high-phosphorus iron eame into use, since from the nature of the new process complete decarburization is neces-

Jan 1, 1891

By Carl Beal

THE most important factors that should be given consideration in valuation of oil land are: (1) the amount of oil the property will produce; (2) the amount of money this oil will bring (based upon the future prices of oil) ; (3) development and production costs; (4) the rate of interest on the investment; (5) the retirement or amortization of invested capital; and (6) the salvage or "scrap" value of the equipment when the property is exhausted. These factors are of varying importance, and some of them may not enter all valuation problems, but most of them should be given consideration in any valuation even though only a rough estimate of the value of the property is desired. The value of a property may be changed over-night by the completion of important test wells, by the sudden water flooding, or by a change in the price of oil. The best a petroleum engineer can give is the value of the property under the conditions existing at the time the appraisal is made with a fair forecast of future action of the wells and of the price of oil. Our experience in the scientific valuation of oil lands is not broad and there is very little published information on the subject; it, therefore, becomes necessary in studying such problems to form comparisons with the factors involved in the valuation of mines-the closest parallel. One of the reasons for the lack of substantial progress in oil-land valuation methods has been the necessity of making an estimate of the future production of the oil property to be valued. Oil men and accountants have not generally conceded that such estimates could be made with any degree of accuracy. It has been shown, however, in several recent publications that with certain data available reasonably close estimates can be made. The accuracy of an appraisal depends chiefly on the accuracy of the estimates of future production and of the future price of oil. The accuracy of the former is sometimes necessarily based on geological inferences. Geology is not an exact science and geological data in connection with oil production cannot always be mathematically evaluated.

Jan 9, 1919

To the American Institute of Mining Engineers: The committee appointed at the February meeting upon Railway Resistances would respectfully report: That one person has been constantly employed in calculating the results of the data taken prior to March 1st, 1876. Also to complete the data taken upon the Lake Shore and Michigan Southern Railway, a diagram was taken upon a through freight train from Cleveland to Chicago, and one from Chicago to Cleveland. So that now we have diagrams from Buffalo to Chicago and return, which, when fully worked up, will give results of the utmost importance in determining the cost of transportation of freight. These data will be of much importance in determining the proper methods of equating grades and curves, which is so essential in the location of new lines. The calculations show that instead of our attempting to formulate results from data obtained on one road, it will be best for the interests of transportation to enlarge the scope of our inquiries, and to extend the experiments so as to include all of the more probable causes which affect the cost of transportation. Were the details of railway equipment constructed alike, much work, which is now necessary, would be saved. It is not uncommon to find upon the same road 10 to 30 different patterns of something in construction to subserve the same purpose, which more or less modifies the friction of the cars. Take the majority of our trunk lines, with this diversity of construction, together with the varying conditions of track and manner of operating, and it will be at once seen that the labor and time to do the work and arrive at correct conclusions will occupy from two to three years. The results already attained in the short time in which they have been carried on, wholly by private enterprise, simply show what may be expected when the aid necessary is given to render them of the highest value to the great industries of the country. That the information may be general and of the greatest importance to our railway interests, the committee deem it advisable to secure, so