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By G. Sachs, A. W. Dana, C. C. Chow

A great number of the investigations on the plastic flow of metals have been concerned with the establishment of a "universal" stress-strain relation. In such a relation some stress function when plotted against a strain function should yield identical curves for the various stress states. In the first investigation of this type, Ludwik and Scheu1 plotted the maximum shearing stress as a function of the maximum principal strain. Later Ros and Eichinger2 introduced two universal stress-strain relations, the one relating the maximum shearing stress to the maximum shearing strain, and the other relating a stress invariant, suggested by von Mises and Haigh, to the corresponding strain invariant. (In more recent investigations the stress and strain invariants are frequently supplemented with some factor to render their meaning more lucid.) A further suggestion which has not attracted appreciable attention is that by Baranski³ who used stress and strain deviators. The most common means of experimentation to determine the relation between stress and strain consists in subjecting thin walled tubes to combined internal pressure and axial tension.4a,4b,4c This method allows the study of plastic flow under stresses which are variable in two directions. However, the plastic flow which can be obtained in this manner is comparatively small, being limited by either tension failure or instability. For copper,'. only the relation between maximum shearing stress and maximum shearing strain yielded good agreement. On the other hand, tests on a stee14b and on an aluminum alloy4c. resulted in systematic deviations if any of the discussed universal stress-strain relations were used. It would seem, therefore, that the agreement mentioned above for copper is only incidental and explained by its high rate of strain hardening compared to that of other metals. Much larger strains than experienced in the tube tests can be obtained by subjecting a thin membrane of a ductile metal, which is restrained at its periphery, to a uniform hydraulic pressure. The thin sheet forms a deep bulge before it fails. The stresses and strains in such a bulge increase with increasing distance from the edge of the clamping "die," the maximum stresses and strains occurring at the pole (crown) of the bulge. While the stress and strain states are determined by the contour of the bulge, the absolute magnitude of the stresses and strains depends upon the hydraulic pressure. The bulge contour is in turn correlated with the geometry of the die opening. The deformation and fracture characteristics of circular bulges, that is, bulges formed with circular clamping dies, have been the subject of numerous experimental and analytical investi-gations.5,6,7 It has been shown that plastically deformed circular bulges develop large and comparatively uniform strains before failure by instability"6b,6c,6d and closely assume a spherical shape.6d Also the distribution of strains across the contour of the bulge is dependent on the metal being investigated and is correlated with, but cannot be predicted from, the metal's stress-strain characteristics. On the other hand, oblong or elliptical bulges, that is, bulges formed with elliptical clamping dies, are not as susceptible to analytical analysis and have not been investigated to the extent that circular bulges have. The few available data6c,7c indicate that stress states are obtained at the poles of the bulges, varying between plane strain and balanced biaxial tension, depending upon the geometry of the die opening. In this paper, the strain state and curvatures exhibited by three bulge shapes, a circular and two elliptical bulges, Fig 1, are analyzed experimentally using methods described in previous publications.6a,6c An attempt is made to derive the stress-strain relations for these bulges, which represent strain states in which the ratio of the two positive principal strains varied between 1.0 and 0.35. In addition, tension tests yielded data for a value of —0.5 for this strain ratio. Such an analysis should indicate the applicability of the various laws correlating stress with strain to the stress and strain states occurring in bulged shapes. Definitions and Nomenclature The definitions of the major stress and strain quantities used in this paper are as follows: s1, s2, s3 = principal normal stresses Sl > s2 > S3 t = shear stress e = conventional (unit) strain e = In (1 + e) El, E2, E3 = principal natural strains 7 = shear strain The maximum shear stress: , _ S1 — S3 lmax = 2 Frequently, the flow stress, s1 — s3 = 2lmax rather than the maximum shear stress is used.

Jan 1, 1950

By Henry Rawdon

Cold-working is generally considered as a process of hardening metals. Diamet-rically opposite statements concerning the applicability of the scratch-hardness method in the testing of cold-worked metals, particularly after severe deformation, which exist in the technical literature led to the study of the results which are summarized in this paper. A series of metals, of which copper, iron and tin are used as illustrations here, were cold rolled to a definite degree without any intermediate annealing and the hardness determined by both the scratch and Brinell methods. The results indicate that the metal hardens rapidly during the initial stages of deformation; however, after a certain stage, which corresponds to a rather definite microstructure, the metal becomes softer and in its final form may be softer than the metal in its initial stage. As part of the study of the scratch-hardness method for metals and alloys in cooperation with one of the technical committees of the American Society for Testing Materials, the authors devoted considerable time to the study of the changes in hardness of metals when cold rolled. Various seemingly contradictory statements in the technical literature concerning the applicability of the scratch-hardness method to such cold-rolled materials were among the principal reasons for the investigation, the results of which are in part presented here. The effect of cold deformation, at least in moderate degrees, on the hardness as measured by the Brinell and other common methods is so well known that further reference is unnecessary. Concerning the scratch hardness of cold-worked metals, Martens and Heyn state' that hardness, whether measured by the ball-pressure method (Kugeldruck) or by the scratch method (Ritzverfahren), will be increased by cold deformation. Jeffries and Archer give a seemingly diametrically opposite view. They state,2 that "the sclerometer (indicating scratch

Jan 1, 1924

By A. D. Hodges

In May, 1850, the first gold from the Comstock lode was discovered in the sands near the Carson river. It had been washed down by natural agencies, through Gold Caflon, from the decomposed rock of the ledge above. Within a few weeks, the precious metal was traced more than three miles in shallow deposits along the bed of the canon, from the river to the Devil's Gate-—a narrow, rocky cleft, notable to the teamsters of a later day chiefly as the place where " Uncle Jimmy Fair" collected high tolls, and could not reduce the rates, because " this was all he had for the education of his poor children." From 1850 to 1857, a fluctuating band of miners, whose number varied from twenty to two hundred, washed the Gold Canon placers with rockers and long-toms, making four to five dollars a day each until the last-named year, when the deposits were in great measure exhausted. The chief settlement of these miners was at Johntown. During only a third of the year was the water-supply sufficient for their work. The remainder of the time they utilized in desultory prospecting of the hills and in occasional forays for supplies among the Mormons in Carson valley. In 1857, the Grosch brothers discovered the Comstock lode at some point, now unknown, in Gold Hill, but their discovery perished with them. Early in 1858, the " Pioneer Quartz Company," having located several of the small surface-veins around Silver City (whose connection with the main lode has never been definitely shown), built an arrastra, and worked some of their ore; but the returns were so small that they soon abandoned this business. The following winter, James Finney and his partners found gold in place in

Jan 1, 1891

By L. A. Willey

Although the interierometric method for the determination of length changes was devised by Fizeau more than three quarters of a century ago, it has not achieved the widespread use in the metallurgical field that its precision and simplicity would seem to warrant. The interferometer and the basic principle are both very simple. When optically plane surfaces held at a very slight angle to each other are illuminated by monochromatic light, rectilinear, equally spaced interference fringes arc formed. Each fringe corresponds to a defiuitc thikness of the wedge formed by the optical flat.;. The difference in wedge thickness between two consecutive fringes is cqual to one half the wave length of the illuminating light. Instruments for vicwing the intertero~ncter have passed through a number of modifications. Outstanding among the improvements were those Abbe. in 1884. His improved instrument permitted micrometric mcasurements to the order of one-hundredth of the width of an interference fringe (i.e., lengths were measured to the order of one two-hulldredth of the mave length of light ). It also permitted the consecutive use of light of several wave lengths. which made possible the determination of the order number of any fringe and therefore the absolute thickness of the wedge at any point. The Abbe dilatometer and methods of measuretment, including corrections to he applied for the change of index of refraction with change in tempcrature and barometric pressure in an air wedge, have been thoroughly described by Pulfrich.' Pulfrich2 made further improvements in the interference measuring apparatus. His instrument embodied all the features of the Abbe dilatometer but was made more versatile by its complete mechanical separation from the interferorneter. The introduction of an Amici prism in the piece permitted the simultaneous observ tion of the whole set of fringe systems developed in the interferometer from the visible light of a geisler tulle. .Also, the introduction of a direct-vision, reflecting prism made it possible to set the fringes parallel to the two vertical fiducial line. of the instrument without the necessity of rotating the interierometcr. Interferometric methods employed ill this country have been developed and dcscribed by Priest, Pelers and Cragoe," Austin,5 Merritt,= Saunders,? and Nix and MaNair. Since none of these authors used the type of instrument that was employed in the present investigation, they Will not be discussed here. This paper will be limited to the description of the interfernmetric apparatus and method used at the Aluminum Research Laboratories and to the presentation of data so obtained. Apparatus and Procedure A general view of the dilatometer, not including equipment for controlling and

Jan 1, 1945

By Charles Austin

IT has been known for several years1 that certain alloys of the Konal type, containing commercial cobalt (99.32 per cent C0 and 0.42 per cent Ni) and varying amounts of ferrotitanium, exhibit very high tensile strengths at 600°C. However, their pro-portional limits and yield points are rela-tively low. Published data1 for the alloys quenched in water from 950°C. and then tested at 600°C. are summarized in the upper section of Fig. I. Similar specimens that were aged at 650°C. for 72 hr., after quench and prior to testing at 600°C., gave the results shown in the lower section of Fig. I. TABLE I.-Analysis of Material I Percentages Constituent Sample Sample Sample 3125 3124 3123 Si 0.25 0.51 o.6o Fe 4.15 10.70 13.17 Ti I.15 3.58 4.70 Mn 0.30 0.41 0.42 Co (by difference)^ 94.15 84.80 81.71 The cobalt from all three samples, united and tested for nickel, gave 0.54 per cent Ni based on the weight of cobalt. In the present work the investigation of the properties of these materials has been extended by a study of the tensile deforma- tion characteristics in moderately long-time tests at 600°, 700° and 800°C. after quenching from various solution tempera-tures. In addition, some metallographic studies have been made to correlate with the deformation tests, and to obtain in- FIG. 1.-EFFECT OF VARYING AMOUNTS OF FERROTITANIUM (FE2TI) ON PHYSICAL PROPER-TIES OF COMMERCIAL COBALT. (C. R. Austin.1) Upper section. Tested at 600°C. after water-quenching from 950°C. Lower section. Tested at 600°C. after water-quenching from 950°C. and aging 72 hr. at 650°C. FIG. 2.-PORTION OF QUASI-BINARY DIAGRAM COBALT-FE2TI AS DETERMINED METALLOGRAPH-ICALLY. formation on the quasi-binary system Cobalt-Fe2Ti. The material, very kindly furnished by the Westinghouse Electric and Manufac-turing Co. in the form of hot-swaged rods of 3/16-in. diameter, analyzed as shown in Table I. The alloys, when originally made up,1 were based upon an iron-titanium com-pound, Fe3Ti, as indicated by the work of

Jan 1, 1940

By J. F. Tavernelli, L. F. Coffin

The deformation and fracture characteristics of eight metals subjected to fully reversed cyclic strain ranging from 0.2 to 50 pct were investigated at room temperature. Strain-hardening characteristics unique to the interna1 structure of a particular metal were found. Complete removal of the strain-hardening effects resulting from prior deformation was brought about by subsequent cyclic strain. Further support for the validity of the inverse relationship between the plastic strain range and the square root of the number of cycles for failure is given. THE resistance of materials to cyclic plastic strain is of interest both from a fundamental and practical point of view. It is now a well-accepted fact that fatigue failure in metals is a consequence of the localized slip deformation which occurs within the individual crystals of metal.'-' Hence the failure process should be strongly dependent upon the magnitude of the gross cyclic plastic deformation of the metal under conditions where this is a measurable quantity. Therefore, an experimental investigation of metals in which the cyclic plastic strain is the independent variable should shed new light on some of the basic aspects of the problem. From the practical point of view, there are many uses for information relating to the cyclic strain resistance of metals. One is the case of thermal stress fatigue where fatigue failure can occur as a consequence of a com- paratively few cycles of thermally induced mechanical deformation. Another is the mechanical working of metals where large cyclic strains are employed. In recent years several publications have appeared relating to the cyclic-strain resistance of metals,8-11 dealing mostly with the fracture aspects where the temperature is cycled simultaneously with the mechanical strain. Some work has been reported on the cyclic-strain resistance of metals at constant temperature, again oriented more toward the fracture aspects of the problem than the deformation aspects. 12-16 The present research investigation was undertaken to obtain information regarding the deformation characteristics of several metals whose structure-property relationships were simple and straightforward under conditions of both cyclic and monotonic strain. It has been shown for example that under cyclic-strain conditions some materials will strain harden, while other materials, particularly cold-worked structures, strain soften and these effects required further clarification.8,17-19 It was also de-

Jan 1, 1960

With a total value to date of well over $200,000.000.00 for its ore production, the Tintic mining district, which is about 100 miles southwest of Salt Lake City, ranks as one of the three main ore producing areas of Utah. In it are located the biggest silver mines of the country, silver having been the chief metal produced in the camp since its start. Tintic's silver production to date has a total value of over $1 00,000,000, approximately half of the value of the camp's ore production, the balance being roughly divided among lead, gold and copper. Discovery of the camp was made in the late sixties. Lack of transportation and ore reduction facilities delayed extensive development of the area for nearly a decade. In recent years Tintic's ore production has ranged from 350,000 to 400,000 tons annually. In 1924 the camp produced one-eighth of the silver produced in the nation with an output of 7,729,700 ounces. Its lead production was 77,765,000 pounds and its gold production 26,285 ounces.

Jan 1, 1925

For the year ending February, 1920 PRESIDENT HORACE V. WINCHELL MINNEAPOLIS, MINN PAST PRESIDENTS PHILIP N. MOORE ST. Louis, Mo. SIDNEY J. JENNINGS NEW YORK, N. Y. FIRST VICE-PRESIDENT A. R. LEDOUX NEW YORK, N. Y. TREASURER GEORGE D. BARRON NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON NEW YORK, N. Y.

Jan 4, 1919

By K. Takahashi, I. Iwasaki

The methyl stretching vibrations for a series of normal xanthates, isoxanthates and normal amines were determined with the aid of an infrared spectro-photometer, and the results were compared with published information on the corresponding alcohols. The frequency shifts of methyl stretching vibrations may be attributed to the inductive effect of polar groups. The hydrogens in the shorter chain alkyl groups are somewhat polar and can be expected to interact with water molecules by hydrogen bonding. Contact angle, surface tension lowering, solubility, and critical micelle concentration appear to be related to the induced polarity of the alkyl groups. Traube's rule states that in homologous series of compounds solubility decreases and surface activity increases regularly with the size of the hydrocarbon group. Analyzing the work of transfer of a solute from solution to surface, Langmuir' interpreted this rule to mean that each CH2 group added to a molecule produced its effect independently of the others. It is also well known2 that the maximum equilibrium contact angle with sulfhydryl collectors is independent of the polar groups and of the sulfide minerals, and that it increases to a certain limit with the number of carbon atoms in the alkyl group. This observation is thought to demonstrate the orientation of the collector molecules at the sulfide surfaces. The dependence on the hydrocarbon chain length is usually explained as due to the screening of the force field of polar mineral surfaces.3-5 Here again, Langmuir's principle of independent surface action appears to be implied. Heteropolar compounds consist of nonpolar and polar groups, the former being the hydrocarbon group and the latter containing such electronegative atoms as O, N, S, P, or halogens. According to Palit6 the hydrogens in the alkyl groups are more electroposi- tive than in the paraffins owing to the negative inductive effect of the polar groups and a possibility that a hydrogen bond with water molecules ensues. Goto and Takenaka7 provided direct evidence of the inductive effect by measuring the shift of the C-H stretching vibrations of alcohols, acids, and alkyl bromides with an infrared spectrophotometer. Their approach appeared to be directly applicable to the studies of surface activity both at air-water and water-mineral interfaces encountered in flotation systems. The present article attempts to relate the C-H stretching vibrations of alkyl xanthates, alcohols, and amines with such flotation chemistry parameters as contact angle, surface tension lowering, solubility, and critical micelle concentration. MATERIALS AND METHODS Normal xanthates from methyl to octyl inclusive and the isopropyl, isobutyl, and isoamyl xanthates used in this investigation were prepared in the usual manner.8 Normal amine hydrochlorides with carbon chain lengths of 1, 2, 4, and 6 were from Distillation Products Industries, of 8 from Archer-Daniels-Midland Co., and of 10, 12, 14 and 16 from Armour and Co. Normal propylamines, pentylamines and heptylamines from Distillation Products Industries were used both as received and as hydrochloride formed by converting the amines according to the procedure described by Li9 Perkin-Elmer Model 521 and 621 infrared spectro-photometers were used to investigate the spectra in the frequency region of 3050 to 2800 cm-' with frequency scale expansion. The accuracy of the frequency readings was within + 1 cm-1. The KBr micropellet technique was used to prepare the xan-thate samples for measurements, and the halocarbon mull technique was used for amines and amine hydrochlorides. EXPERIMENTAL RESULTS Fig. 1 shows the CH3 asymmetric stretching vibrations as a function of the number of carbons in the alkyl group for normal xanthates, isoxanthates and amines. Also included in the figure are data for normal alcohols and isoalcohols taken from the article

Jan 1, 1970

By Franklin J. Hill, Theodore D. Tiemann

Sized fractions of Wisconsin Gogebic taconite were reduced with hydrogen over the temperature range from 600° to 1000°C. In general, the degree and rate of reduction increase with temperature. Particle size has no observable effect except in the smaller fractions at 900°C and above, where reduction is impeded, possibly due to the siliceous nature of the ore. Gaseous diffusion appears to be significant as a rate controlling factor at certain stages. THE depletion of high grade iron ore reserves in the United States has established the need to utilize all available iron ore deposits, both in long range planning and from the viewpoint of national emergency. This has led to extensive research and development in this field. The beneficiation of Wisconsin Gogebic taconite ore has been previously studied by investigators at the University of Wiscconsin, 1 the United States Bureau of Mines,, Battelle Memorial Institute, 3 and others. Methods investigated have included concentration by flotation processes, magnetic and gravity separation, magnetic roasting and various combinations of them. The foregoing studies have been concerned with the production of an enriched ore suitable for blast furnace use. If the ore could first be reduced to metallic iron and then beneficiated, the product could be used directly in the open hearth or electric steel-making furnace. The by-passing of the blast furnace should enhance the economic feasibility of the beneficiating process. The work reported here,4 was undertaken to establish data on the hydrogen reduction of Wisconsin taconite that would eventually lead to the development of an economic direct reduction process for this and perhaps other low grade siliceous ores. The volume of work on direct reduction can be judged by the fact that 240 direct reduction processes were patented in the United States alone up to 1951, 5 and numerous additional processes have since been developed. Some of the factors contributing to direct reduction development are: 1) The increasing capital cost of the blast furnace and its accessory equipment. 2) The decreasing availability of high grade domestic ore. 3) The high cost of steel scrap for use in the open hearth and electric furnaces. In general, direct reduction processes can be divided into two types; those using a solid reductant (coal, peat, lignite) usually carried out in a kiln, and those using a gaseous reductant (H2, CO) in a shaft furnace or a fluidized bed retort. As there is no low cost coal readily available in northern Wisconsin but natural gas could be quite easily obtained, it is believed a gaseous reductant process would offer the greater feasibility for use on Wisconsin taconite. It is hoped that this preliminary work will beof interest to other investigators in this increasingly important field. TACONITE ORE The ore used in the investigation was obtained originally from the U. S. Bureau of Mines, and consisted of a representative composite made up from trench samples of the Norrie, Pabst, Plymouth, Pence, and Yale members of the Wisconsin Gogebic range iron formation. Chemically, the ore contains approximately 52 pct SiO, and 30 pct Fe. X-ray diffraction and other studies indicate the principal minerals to be quartz (SiO2), hematite (Fe2O3), and goethite (Fe2O3. H2O). Minor amounts of iron containing silicates, siderite (FecO3), and magnetite (FeO-Fe2O3) are present. The iron minerals and quartz are so finely disseminated that the ore requires grinding to less than 200 mesh (74 µ) for essential liberation.l,2 The iron content of each of the several size fractions studied is shown in Table I. EXPERIMENTAL METHOD The method used throughout the investigation was based on that developed by the U. S. Bureau of Mines in Minneaopolis6,7 in which the course of reduction is followed by the loss in weight of the ore sample. More specifically, a 100-g sample of the size frac-

Jan 1, 1962

By H. R. Ogden, E. S. Bartlett, A. G. Imgram

Notched and unnotched tensile specimens of wrought and recrystallized, oxygmted and hydro-genated tantalum and columbium were tested over a range of temperatures selected to encompass the ductile-to-brittle transition. Increasing the oxygen content of tantalum and columbium increased their strength, and raised their ductility transition temperature, but did not cause a marked deterioration of notch properties below that of commercially pure material. The adverse effects of oxygen were more pronounced for recrystallized structures than for wrought material. The effects of hydrogen are complicated by strain aging or slow strain rate hydrogen embrittlement at -105°F. However, in general, hydrogen had only a minor effect an strength, but markedly increased the effective transition tem-terature and caused a deterioration of notch properties . BCC metals including the refractory metals in Groups Va and VIa (V, Cb, Ta and Cr, Mo, W) can be expected to undergo a ductile-to-brittle transition and exhibit brittle fractures at low temperatures.' Notch embrittlement is associated with this phenomenon, and can be a serious design problem. Table I compares the tensile transition behavior and notch sensitivity of commercially pure Group Va and VIa refractory metals. The Group VIa refractory metals have considerably higher transition temperatures, and become notch sensitive at higher temperatures, than do the Group Va refractory metals. In addition, the Group VIa refractory metals are sensitive to metallurgical structure. Recrystallized structures generally have higher transition temperatures than wrought material of the same composition. The relatively poor transition behavior of the recrystallized structures of these metals is generally attributed to the segregation of interstitial impurity atoms at grain boundaries. Pronounced sensitivity to structure is not evident with commercially pure Group Va refractory metals, however. Since these metals have higher solubilities for interstitial elements than do the Group VIa metals ,4 it can be expected that higher total interstitial concentrations are necessary to develop a comparable degree of grain boundary segregation and to produce a similar sensitivity of transition temperature to structure. Increasing only the concentration of interstitial atoms in solution would tend to increase the flow stress of a metal in relation to its cleavage fracture stress and thereby raise its transition temperature, but would not be expected to cause a marked sensitivity of transition temperature to structure. A research program has been conducted at the Battelle Memorial Institute to evaluate the effects of interstitial oxygen and hydrogen on the transition behavior and notch sensitivity of tantalum and columbium, and to evaluate the effects of structure on "contaminated" material. EXPERIMENTAL PROCEDURES Notched and unnotched tensile specimens of oxygenated and hydrogenated tantalum and columbium with both wrought and recrystallized structures were tested over a range of temperatures selected to encompass the ductile-to-brittle transition Oxygen levels selected for study in both tantalum and columbium were nominally 500 and 1000 ppm, whereas nominal hydrogen contents were 150 and 500 ppm in tantalum and 150 and 300 ppm in columbium. Oxygen and hydrogen additions were made directly to 6-in. lengths of 1/2-in.-diam electron beam melted wrought bar stock, in a Sieverts Apparatus. Subsequent high-temperature annealing was required for homogenization of the oxygenated material, but was not necessary in the case of hydrogenated stock. The oxygenated and hydrogenated bars were then swaged to 1/4-in.-diam rods. Tensile specimen blanks were cut from the 1/4-in.-diam rods and annealed to achieve stress-re-

Jan 1, 1963

By Elizabeth L. Robinson

INTRODUCTION The financial structure of the mining industry has changed strikingly over the last thirty years. The changes that have taken place in the last ten years include both the acceleration of adverse trends in familiar balance sheet numbers and ratios, and the subtle but extensive increase in the complexity and diversity of funding sources, both on and off the balance sheet. The objectives of this paper are: 1. to briefly trace the evolution of trends in the mining industry's financial structure; 2. to focus in more detail on changes in the last decade; and 3. to analyze those trends both within the framework of capital structure theory, and in the context of changes in business and economic conditions. This survey focuses primarily on the mining companies listed on the major U.S. stock exchanges, since financial data for these firms are readily available. The producers of minerals are a diverse lot, however, and the quantitative data on "the mineral industry" as characterized in this survey fails to encompass the financial arrangements for the bulk of production worldwide, whether owned by governments or private-sector enterprises. Even large portions of the U.S. minerals industry - subsidiaries of still larger firms, medium-sized privately-held companies, and the small miners - were not included in the quantitative part of the analysis. THE EVOLUTION OF THE INDUSTRY'S FINANCIAL STRUCTURE In the aftermath of the business failures of the Great Depression, most borrowers and lenders considered minimal debt on the balance sheet the soundest policy. By the 1950's, however, a body of literature was developing which demonstrated that the use of leverage could improve the value of the firm, given a corporate tax structure which allows interest, but not dividends, to be deducted from income. Optimal Capital Structure The objective of undertaking a new project is to improve the wealth of the current owners of the firm. If internally-generated funds are insufficient to allow growth at the desired rate, the company can raise funds either by issuing new equity, or by incurring debt. The most attractive source is the one which will provide the funds for the lowest cost. Both stockholders and lenders expect to receive compensation for use of their funds at a rate which reflects two things: (1) the return they could earn in alternative investments, and (2) the riskiness of the projected return. Factors which increase business risk include the variability of demand, sales prices and input prices, and "operating leverage", or the proportion of fixed to variable costs. In addition, from the investors' point of view, the use of financial leverage concentrates risk onto the shareholders, because lenders enjoy a prior claim in the event of bankruptcy. So although financial leverage can increase a project's expected rate of return, and therefore, presumably, earnings per share, too much debt will be perceived as uncomfortably risky by equity investors, and have a negative effect on stock prices. In theory, then, there should be an optimal level of debt which the firm's managers should seek to obtain in its financial structure. The desirable proportion of debt should in general be lower for a firm with a higher inherent business risk. In addition to their own judgement, financial managers are sensitive to the attitudes of lenders, rating agencies, and investment bankers in setting financial targets (Scott and Johnson). In practice, financial structure will also depend upon the company's growth rate and level of profitability, and conditions in the capital markets at a given time.

Jan 1, 1985

By A. K. Csazar, L. W. Holm

This paper describes our investigation of a post-water-flood, oil recovery process which consists of injecting a slug of propane followed by water. Also described are the results obtained by applying a modification of the process in which gas was injected ahead of the water. Under the conditions of the latter experiments, misci-bility was not achieved between the propane and gas. Preliminary experiments or) uniform, watered-out sandstone cores showed that an oil bank could be formed and produced by applying this recovery process. However, since reservoirs are not uniform in structure, the process also was applied to porous media containing irregular porosity and to stratified sand systems. As a supplenzerrt to the experinlental work, a mathernatical procedure was developed for calculating the performance of the recovery process in a bounded, layered, porous system with crossflow between layers. As a specific example, the method was applied to predict the perforrnance of the recovery process in a 6-ft long, two-layer, stratified, unconsolidated sand model for comparison with experinlental data. The calculations were programed for the ZBM 704 computer. The equations and calcula-tional procedure presented can be extended to systems containing any number of randomly distributed permeability variations or any number of parallel layers. INTRODUCTION The problem of recovering the oil that remains in a reservoir which has been waterflooded is receiving considerable attention now as an increasing number of water floods reach an economic limit. A large number of the waterflood projects are in shallow reservoirs which are at pressures below 1,000 psi. It has been demonstrated in the laboratory that post-waterflood oil can be recover-ered by miscible displacement, but the LPG-gas, miscible flood and the enriched gas drive cannot be applied effectively at pressures below 1,000 psi. Only a few reports have appeared in the literature2-4 on low pressure, partially miscible recovery methods. However, it is possible to use LPG in a partially miscible displacement process in a reservoir where pressures of 200 to 1,000 psi can be achieved. Under these Pressures and at normal reservoir temperatures, propane is miscible with the oil; but, of course, gas or water used to drive the propane slug would not be miscible with the propane. Because of the lack of complete miscibility, it has generally been concluded that excessive amounts of propane would be required to recover oil and that such a recovery method would not be economical; however, we have found that under conditions present in certain reservoirs, an imrniscible recovery process can be applied effectively. The oil saturation in reservoirs at the economic limit of waterflood projects is usually in the range of 20 to 35 per cent of the pore space." A certain portion of this oil is left trapped by water in various size pores of the rock, but a good part of this so-called "residual" oil can be present in the less permeable lenses or layers of the reservoir rock which were by-passed to some degree by the water. The oil in these permeability traps can be produced only if favorable pressure gradients are formed in the reservoirs between adjacent zones of high and low permeabilities. A low viscosity liquid, miscible with the oil in place, which is driven by water through a stratified or heterogeneous porous system can aid in the development of these favorable pressure gradients. The oil that is released thereby from the permeability traps can be recovered by the subsequent water flood. Studies were made to determine how much oil could be recovered from homogeneous and stratified cores and models, which had been water flooded, by injecting a slug of propane and driving it with water. The effect of injecting a slug of gas ahead of the water was also determined. Most of the work described herein was done with the propane-water combination; unless otherwise specified, no gas was injected. The principal objectives of the investigation were to determine (1) if an oil bank could be formed and (2) what ratio of oil recovered to propane injected would be obtained. A further objective was to develop a method for calculating fluid-flow performance in stratified systems which would account for fluid transfer between zones in hydrodynamic communication but of different permeabilities. THEORETICAL ANALYSIS In a theoretical study of the recovery process, analytical expressions were derived to calculate the pressure distribution, the fluid flux in longitudinal (parallel to layers) and transversal (across the layers) directions, and the fluid distribution at any point in the system. The equations were developed for a two-layer porous system in which it was assumed that the fluids in the system were incompressible and that capillary and gravity effects were

By Lo-Ching Chang, J. Chipman

The perennial and increasing interest in the chemical behavior of steelmaking slags has led to numerous attempts to formulate the thermodynamic properties of these solutions. The classical view is that of a solution of the component oxides in which certain acidic oxides are more or less completely held in combination with basic or metallic oxides, the nature of the interoxide compounds being derivable from the chemical behavior of the slag or from the mineralogy of a solidified specimen. The known electrical conductivity of slags has pointed to the existence of ions in the solution and a number of attempts have been made to account for the observed facts of slag behavior on the basis of a theory of complete ionization of the solution. It is the purpose of this paper to examine, in the light of ionic theory, a number of recently published series of data on slag-metal and slag-gas equilibria, with the purpose of obtaining a more complete or more satisfactory generalization than has been possible on either of the single bases of simple compound formation or complete ionization. The attempt to formulate the ionic constitution of a complex solution is fraught with many uncertainties. An ion is not something that can be plucked from the solution and examined in detail, nor can its true formula be determined with certainty by any single experimental method. In attempting to express the composition of a slag by various ionic formulas it can be expected that alternative hypotheses of essentially equal merit will present themselves. In the present state of early development of the ionic theory of slags, it may be necessary to make some rather arbitrary choices of ionic formulas in the absence of su- cient information to yield complete certainty. Acids and Bases The classification of slag-forming oxides as acidic or basic apparently dates back into the days of Berzelius. It is difficult to see how the concept could have originated in the early twentieth century when it was fashionable to define an acid or a base as an aqueous solution containing hydrogen or hy-droxyl ions. It is, however, entirely consistent with the modern and more general theory of acids and bases. In this theory, as originally formulated by G. N. Lewis,' a basic molecule is one that has an electron pair which may enter the valence shell of another atom thus binding the two together by the electron-pair bond. An acid molecule is one which is capable of receiving such an electron pair into the shell of one of its atoms. The acid, the base, and the product of neutralization may be either ions or neutral molecules. The product of such a reaction may itself be a base or an acid if it is further capable of giving or accepting an electron pair. Thus a base is a donor of electrons, an acid, an acceptor. In oxide slags the typical and ever-present base is oxide ion, 0-—. In behavior and in importance it is analogous to hydroxyl ion, OH-, which is the typical base of aqueous solutions. There is nothing in the chemistry of slags which is quite analogous to the acid H30+ in aqueous solutions. This is not surprising for in slag systems there is nothing which can be designated as a solvent and no ubiquitous positive ion. The chemistry of slags is in fact more complex than the chemistry of aqueous solutions and the concepts which must be evoked in its study are correspondingly broader. In seeking a basis for a classification of slag-forming oxides as basic or acidic it must be remembered that these terms are not absolute but relative. A substance which acts as a base toward a second substance may act as an acid toward a third. This is less likely to happen among strong bases or acids than among the weak ones; there are numerous examples of weak acids which under the influence of a stronger acid behave as weak bases. Such substances are called amphoteric. A classification of the glass-forming oxides has been proposed by Sun and Silverman² and further developed by Sun3 in which the oxides are arranged in order of decreasing acidity or increasing basicity, each substance being potentially capable of acting as an acid toward substances below it in the list and as a base toward those above it. It is based upon the relative strengths of the metal-to-oxygen bond as determined by the energy required to dissociate the oxide into its component atoms.' Data are available for computation of this energy, at least approximately, for the oxides of slags and glasses. In general those oxides from which it is most difficult to remove the positive atom are the strong acids while those in which it is most loosely held are the strong bases. It is in the latter, of course, that formation of oxide ion occurs most readily as, for example, in CaO which in solution ionizes to form the weak acid Ca++ and the strong base O—. The order of arrangement found by Sun is shown in the first column of Table 1, to which have been added the data for

Jan 1, 1950

By R. Gibson, F. S. Turneaure

The tin deposit of Monserrat, Bolivia, consists of one major vein 1600 m in length. The ore is unusual because of the notable quantity of teallite, even though cassiterite is the principal tin mineral. The deposit, formed at shallow depth under a wide range in temperature, may be classed as xenothermal. Polished sections reveal a complex history of replacement, with low-temperature minerals deposited before high-temperature minerals. THE Monserrat mine1'2 of the Compania Minera Monserrat is located 11 km east of Callipampa, a station on the Antofagasta and Bolivia Railway some 55 km south of Oruro. The mine lies in a group of low hills on the east slope of a broad valley of northerly trend. The valley is separated from the altiplano to the west by a prominent ridge that rises several hundred meters above the surrounding country (fig. 1). Callipampa is situated a short distance west of the ridge, near the east margin of the altiplano. The elevation at Callipampa is 3700 m and at the mine 4100 m. Monserrat is near the northeast limit of what may be called the Poopo-Pazna district, an area of northwesterly trend about 25 km in length and 15 km in width. The district includes the tin-silver prospects of Poopo to the north, the zinc-tin deposits of Salvador to the southwest, and the tin-tourmaline veins of Avicaya to the south. Along the prominent ridge already mentioned, which forms the western limit of the district, there are several tin and antimony prospects including the Trinacria mine, which is famous for its fine specimens of cylindrite. Although the principal ore mineral is cassiterite, the tin deposit of Monserrat contains an unusual amount of teallite. Cassiterite occurs in part as a finely granular mixture with sulphides of iron and zinc and in part as needle tin of late hypogene age. The regional structure is dominated by broad folds typical of the Andes of Central Bolivia and similar to those of the Llallagua district. The area adjacent to the Monserrat mine is underlain by thin-bedded shale somewhat variable in color but predominantly dark grey to black. The beds strike northwest and dip at low angles southwest, forming part of the northeast limb of a major syncline. A resistant sandstone formation, which underlies the black shale, crops out along a ridge east of the mine and also accounts for the high ridge to the west that was previously mentioned. No igneous rock of any kind is found at Monserrat. The nearest intrusive bodies known are the irregular dikes and masses of quartz porphyry at Avicaya about 10 km to the south. Mine Workings The Monserrat property includes one main vein, which can be followed on the surface for 1600 m, and two or three branch veins of distinctly minor importance. The principal haulage tunnel, referred to as the San Carlos adit or level III, extends northeasterly for 1700 m, following the main vein throughout most of this distance. Above the adit, there are

Jan 1, 1951

By F. S. Turneaure, R. Gibson

The tin deposit of Monserrat, Bolivia, consists of one major vein 1600 m in length. The ore is unusual because of the notable quantity of teallite, even though cassiterite is the principal tin mineral. The deposit, formed at shallow depth under a wide range in temperature, may be classed as xenothermal. Polished sections reveal a complex history of replacement, with low-temperature minerals deposited before high-temperature minerals. THE Monserrat mine1'2 of the Compania Minera Monserrat is located 11 km east of Callipampa, a station on the Antofagasta and Bolivia Railway some 55 km south of Oruro. The mine lies in a group of low hills on the east slope of a broad valley of northerly trend. The valley is separated from the altiplano to the west by a prominent ridge that rises several hundred meters above the surrounding country (fig. 1). Callipampa is situated a short distance west of the ridge, near the east margin of the altiplano. The elevation at Callipampa is 3700 m and at the mine 4100 m. Monserrat is near the northeast limit of what may be called the Poopo-Pazna district, an area of northwesterly trend about 25 km in length and 15 km in width. The district includes the tin-silver prospects of Poopo to the north, the zinc-tin deposits of Salvador to the southwest, and the tin-tourmaline veins of Avicaya to the south. Along the prominent ridge already mentioned, which forms the western limit of the district, there are several tin and antimony prospects including the Trinacria mine, which is famous for its fine specimens of cylindrite. Although the principal ore mineral is cassiterite, the tin deposit of Monserrat contains an unusual amount of teallite. Cassiterite occurs in part as a finely granular mixture with sulphides of iron and zinc and in part as needle tin of late hypogene age. The regional structure is dominated by broad folds typical of the Andes of Central Bolivia and similar to those of the Llallagua district. The area adjacent to the Monserrat mine is underlain by thin-bedded shale somewhat variable in color but predominantly dark grey to black. The beds strike northwest and dip at low angles southwest, forming part of the northeast limb of a major syncline. A resistant sandstone formation, which underlies the black shale, crops out along a ridge east of the mine and also accounts for the high ridge to the west that was previously mentioned. No igneous rock of any kind is found at Monserrat. The nearest intrusive bodies known are the irregular dikes and masses of quartz porphyry at Avicaya about 10 km to the south. Mine Workings The Monserrat property includes one main vein, which can be followed on the surface for 1600 m, and two or three branch veins of distinctly minor importance. The principal haulage tunnel, referred to as the San Carlos adit or level III, extends northeasterly for 1700 m, following the main vein throughout most of this distance. Above the adit, there are

Jan 1, 1951

By L. G. Austin

My first contact with industrial milling was during the time I worked in the electricity generating industry in the United Kingdom. In visits to power stations to investigate either deposits in the boiler furnaces or polluting deposits settling around the stacks. I had to check the performance of the vertical coal pulverizers, since poor pulverization aggravated both problems. Naturally, then, when I came to the USA in 1957 to take a PhD in fuel technology at Penn State, I was put to work to review the science of coal pulverization. After this reviewing, I was completely confused. On one hand, there was a well-developed understanding of stress-strain equations, and a rapidly developing knowledge of how stressed, brittle solids fractured, based on the Grifith crack theory. On the other hand, reading in the grinding literature gave me: -Kick's Law, which was clearly not correct in the light of modem fracture theory; -Rittinger's Law, which was also clearly not correct; -Bond's Third Law of Comminution, which was claimed to have something to do with the Grifith crack theory, but where the connection between the two was made by intuitive pseudo-scientific reasoning I could not accept; -the choice of mill motor power for the most common type of coal mill, the Raymond pulverizer, was calculated from the fan power required to move air through the mill. Although I could accept the empirical connection between the two, it made no sense from the point of view of fracture energy. Even today, most books or review chapters on size reduction start from these laws. Incorrect statements abound in the literature, such as "the Hardgrove Index is based on Rittinger's Law," which it is not, "The Bond theory states that work input is proportional to new crack tip length produced in particle breakage," which is not true, etc. My own test work showed that these "laws" did not fit the data for grinding of coal. At about this time, Epstein (1948) and Broadbent and Callcott (1956), following the original work by R.L. Brown (1941) at the British Coal Utilization Research Association, proposed describing breakage as a series of fracture stages. I took their concepts and developed the basic differential equation for a batch grinding process continuous in time, analogous to a batch chemical reactor. Robin Gardner then joined the project and did his PhD on treating batch grinding in the same way as a batch chemical reactor. He found that the basic equation had already been partially derived by Sedlatschek and Bass (1953) in Ger- many. We confirmed experimentally the validity of the equations for describing batch grinding (1962) and formulated the equation describing steady-state continuous grinding in a fully-mixed mill. At about the time this work was published, Gaudin and Meloy (1962) and Filippov (1961) independently published essentially the same equations, but without experimental proof of the validity of the concepts. I will give a brief overview of what these beginnings had led to in the design of mills for size and power, and show some of the results of this more detailed understanding of grinding processes. Concepts of Fracture Mills such as tumbling ball, rod, pebble and autogenous mills and vertical mills such as the Raymond, and E-type, apply compressive stress to lumps or particles relatively slowly. Compressive stress applied to a particle of an elastic brittle solid imparts overall strain energy to the solid and produces local regions of tensile stress, [(Fig. 1)] (Berenbaum and Brodie, 1959).

Jan 1, 1985

By P. Hazebroek, M. Prats, E. E. Allen

Well locations in water floods frequently do not coincide with the ideal well locations associated with the flood pattern which is used. A question of importance is. "How much oil is lost because of this?". This is the problem treated in this paper. It is assumed that each pattern in a five-spot flood has the proper number of production and injection wells but that the wells may be off-pattern. The distance by which a well is off-patern is given in terms of the pattern spacing, defined as the length of one side of a five-spot. The influence of off-pattern wells on the performance of a five-spot flood has been investigated mathematically for unit mobility ratio. All production and injection rates are assumed to remain equal. The loss in recovery resulting from pattern irregularitie: has been calculated at a cumulative water injection corresponding to a 98 per cent water-cut in a regular five-spot. Displacing a single production or injection well by about one-third the pattern distance reduces the total field recovery by 4.4/N per cent of the recovery obtainable with regular spacing, where N is the number of five-spots in the flood (assumed large). When off-pattern wells are separated by at least one regular five-spot and are displaced by less than one-third the pattern distance, the total loss in recovery in a large-scale flood is, at most, 1 per cent of the recovery obtainable from that field with a regular five-spot pattern. However, much higher losses may occur if the off-pattern wells are not separated by a regular five-spot, if the rates are imbalanced, or if the mobility of the injected water is higher than that of the crude. Although the loss in oil recovery due to pattern irregularity often may be low, the off-pattern case will always require injection of more water to reach the same final water-cut. The volume of water injected per unit volume of oil displaced has been calculated for each five-spot adjacent to a five-spot containing a single 08-pattern well. The cumulative water injection at the time of 98 per cent water-cut may be increased by as much as 37 per cent when a production well is displaced one-third the pattern distance toward an injection well. The existence of differences between actual subsurface locations and the idealized well patterns used in secondary recovery operations is well recognized. However, the methods commonly used for predicting waterflood behavior ignore such differences, even when subsurface locations are known. The reason for this is simple. The idealized well patterns are highly symmetrical and, as such, the production history of the pattern (and even of the field) can be determined from that of a few production wells—usually from only one. Consideration of the many irregular well spacings found in a specific field would entail a large amount of work, and then the results would be applicable only to that specific field. In an attempt to provide an answer to the more general problem, this paper considers a water flood having an idealized well pattern, except for one well which is not at its regular location. When several off-pattern wells are present, their contributions are assumed to be additive unless the off-pattern wells are close to each other. Only four positions of the off-center well (at x, y. of Fig. 1) are considered in this paper. These are shown

By C. Atkinson

A method is described for the numerical solution of the diffusion equation with a composition-dependent diffusion coefficient and applied to the radial growth of a cylinder; the radial growth of a sphere, and the symmetric growth of an ellipsoid. Sample applications of the method are made to the growth of particles of proeutectoid ferrite into austenite. RECENTLY&apos; we described a method for numerical solution of the diffusion equation with a composition-dependent diffusion coefficient for the case of the growth of a planar interface. In this paper we extend this method to describe the radial growth of a cylinder, the radial growth of a sphere, and the symmetric growth of an ellipsoid. In the latter case, limiting values of the axial ratios of the ellipsoid reduces the problem to one of a cylinder, a sphere, or a plane depending on the axial ratio. A check on these limiting values is made in the results section. In all of these cases we consider growth from zero size. A natural consequence of this assumption as applied to the sphere, for example, is that the radius of the sphere is proportional to the square root of the time. This is consistent with the condition that the radius is zero initially, i.e., grows from zero size. It may be argued that it is more realistic to consider particles which grow from a nucleus of finite initial size; even in this case the analysis of this paper is likely to be applicable. This can be seen if a comparison is made of the work of Cable and Evans,2 who consider a sphere of initially finite size growing by diffusion in a matrix with a constant diffusion coefficient, with the results of Scriven3 for growth from zero size. This comparison shows that the rates of growth in each case differ trivially by the time the particle has grown to about five times its initial size." This investigation is a generalization of those of Zener,4 Ham,5 and Horvay and cahn6 to the situation often encountered experimentally, in which the diffusion coefficient varies with concentration. First let us consider each of the cases separately. I) GROWTH OF SPHERICAL PARTICLES FROM ZERO SIZE In this case the differential equation in the matrix depends only on R, the radius in spherical coordinates, and can be written: ? 1 <^\ ^13D . , dt U\dRz + R 3Rj + dR dR [ J where C is the composition, t is the time, and D is the diffusion coefficient which depends on c. The boundary conditions will be: c = c, at the moving interface in the matrix, c = c, at infinity in the matrix (and at t = 0, everywhere in the matrix), c = X, is the composition in the spherical particle. Each of the above compositions is assumed constant. In addition there is the flu condition at the moving interface which can be written: , dR0 ~/3c dt \dR/H =Ra where R,, which is a function of t, is the position of the moving interface. We make the substitution q = RI~ in [I] reducing this equation to: & - m - *ws) »i where we have written D = D,F(c) or simply D,F, and Do = D(c,). Thus F[c(q0)] = 1 where q, = ~,/a is the value of the dimensionless parameter q evaluated at the interface. Multiplying Eq. [2] by dq/dc and integrating, we find: where the lower limit of the integral has been chosen so that dc/dq — 0 as c — c,, thereby satisfying the boundary condition at infinity. We require, then, to solve Eq. [3] subject to the condition c = c, when q = q, (this follows from putting R = R, at the interface) together with the flux condition which can be rewritten in terms of q as: Eqs. [3] and [4] together with the condition c = c, at q = q0 enable us to find 77, and the concentration profile c = c(q). Numerical Method. We treat Eq. [3] in the same way as we did the corresponding equation for the planar interface problem&apos; i.e., by dividing the interval c, to c, into n equal steps so that: cr = ca -rbc [5] where r takes the values 0, 1, ... n and we call no,, q1, ... nn the values of n corresponding to the compositions c,, c,, ... c,.

Jan 1, 1970

SAFETY in open-pit mining receives a minimum of notoriety, but its significance in profitable and efficient operation is as great as in other methods of mining. Open-pit operators from Arizona, New Mexico, and Mexico, exchanging ideas on safety at a symposium during the recent annual meeting of the Arizona Section, AIME, discovered unanimity of opinion that the successful safety program depended on managerial and supervisory support with the vigorous cooperation of the employes. Safety Organization The operation of a safety program is dependent on the ability of management to project enthusiasm through the company organization. This requires a suitable method of communication to the supervisory and employee levels so as to approach them in a manner that will inspire cooperation. Safety committees comprised of various combinations of managerial, supervisory, and employe personnel are frequently used for this purpose. The open-cut mine of the Chino Division of the Kennecott Copper Corp., Santa Rita, N. Mex., operates its program through management, a full-time safety engineer, and two safety committees, the Departmental and Shops Safety Committee and the Central Safety Committee. The Departmental and Shops Committee consists of one employe from each department and shop and the safety engineer. The selected members serve for a period of one month. This committee meets once a month, the only representative of management being the safety engineer because it is believed that employes will speak more freely when their supervisors are not present. The duties of the committee are to report hazardous conditions and make recommendations, but the committee has no authority to approve or disapprove. The Central Safety Committee is comprised of supervisory personnel from all departments and shops, and one member of each of the five bargaining organizations. Members of this committee are permanent and hold meetings soon after the departmental group to take action on recommendations of the latter. The committee system insures participation of all levels of personnel in the accident-prevention program, thereby stimulating safety consciousness. The New Cornelia branch of the Phelps-Dodge Corp., uses three groups to conduct the safety program; the General Safety Committee, Division Safety Committee, and the operating-unit safety meetings. The unit safety meetings provide for active participation of employes in discussion of various phases of the program. Within these groups vigorous opinions regarding safety are often expressed and the workmen are critical if they recognize a digression from the adopted safe-practice procedures. These monthly discussions give the program vitality. The Division Safety Committee is composed of the division superintendent and the division department heads, and follows an established pattern in discussion of all phases of the safety program. The General Safety Committee, made up of the manager, division, and department heads, makes decisions on policies and procedures; it renders decisions on recommendations and suggestions. Management at the New Cornelia branch feels this system of safety committees and meetings has been active in advancing the program. Safety Codes In the open-pit mines of the Southwest, a safety code for operation or service of equipment, methods

Jan 1, 1952