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By Hallan Marsh

THE subject of this paper is apt to bring to mind wells ranging from 6000 to over 8000 ft. in depth. However, it is uncommon to pump wells at depths greater than about 5000 ft. Fig. 1 shows the number of wells being pumped at various depths by one company in Southern California. FIG. 1.-NUMBER OF WELLS BEING PUMPED BY ONE COMPANY FROM VARIOUS DEPTHS IN SOUTHERN CALIFORNIA. A few companies have a very few wells pumping at depths greater than this. This paper will deal with wells between 3000 and 5500 ft. in depth. Most California oils at these depths are between 25° and 35 gravity. The subject is so broad that it will be necessary to omit many interesting phases, and to treat others very briefly. Power, power transmission equipment, power efficiency, counterbalancing, sucker rods, pumps and volumetric efficiency will be discussed.

Jan 1, 1928

By Rosewell H. Johnson

Discussion of the paper of ROSWELL H. JOHNSON, presented it the San Francisco meeting, September, 1915, And printed in Bulletin No. 102, June, 1915, pp. 1291 to 1294. WILLIAM A. WILLIAMS, San. Francisco, CaI.-A sliding. scale of royalties was proposed to the Department of the Interior in connection with the fixing of royalties to be charged upon oil leases made on the Osage Reservation in Oklahoma. The possibility of evasion and difficulty of enforcement required close inspection to satisfy all interests, particularly in connection with the exemption from royalty on oil to equal maintenance and interest on the junk. Mr. Johnson discusses the block method, the period method, and the cumulative method, and favors the adoption of the cumulative method with a proviso that the wells should be permitted to be pumped until the gross income is as low as the maintenance cost, which would mean exemption from royalty on the smallest wells. He recommends that depth be the variable factor upon which the sliding royalty is based and suggests that on partially developed territory in the Osage, the royalty be one-sixth for oil wells averaging less than 2,000 ft. in depth, one-eighth for wells from 2,000 to 3,000 ft., and one-twelfth above 3,000 ft.; for the rest of the Osage he suggests one-eighth above 2,800 ft. and one-twelfth below that depth. The net result, if Mr. Johnson's suggestions had been accepted in the Osage, would have been to reduce the then existing rate of royalty and considerably increase the cost of administration. The difficulties in determining the size of wells to be exempt and the possibility of obtaining oil at different depths in the same well might lead to complications which are avoided by charging a flat royalty as now universally charged throughout the United States. It is not uncommon to reduce the royalty when the production of the wells becomes unprofitable at an existing rate of royalty, accomplishing very much the same results as Mr. Johnson has attempted to accomplish by the cumulative royalties, and probably in a manner far more satisfactory to the operator and the lessor. A. C. MCLAUGHLIN, San Francisco, Cal.-The net revenue of the well depends, first, on the cost of production; second, on the amount of oil produced; therefore it would be impossible under Mr. Johnson's system to set a royalty which would be fair to all concerned. If it is impossible to set it at the beginning, it is certainly further impossible to do it from day to clay. I think it is entirely impracticable of application.

Jan 12, 1915

By Howard I. Young

WHEN so many statements are being made relative to the requirements of zinc metal, it is difficult for some of us who are acquainted with the industry to visualize how it is possible to step up production so as to supply some of the fantastic requirement figures that are published from time to time. I shall attempt to approach this subject from the standpoint of existing conditions which affect production, also keeping in mind the price ceiling under which the industry operates. Total production of primary and secondary zinc in the United States for 1941 will be about 878,000 tons, to which should be added about 36,000 tons of Mexican slab zinc available for consumption or export from the United States, giving a total available of 914,000 tons. Production of slab zinc of all grades in 1942 should be 953,000 tons. Adding the available Mexican supply should bring the total to 989,000 tons.

Jan 1, 1942

By A. N. Mitinsky

(San Francisco Meeting, September, 1915) THE theory of elasticity, the science of the strength of materials, and all our calculations regarding engineering structures are based on Hooke's law, that in loaded bodies the deformations are, proportional to the load producing them. Without this law it would be impossible to design intelligently engineering structures such as bridges, frames, axles, etc. This being the case, the proportional limit,1 that is, the point at which deformation ceases to be proportional to load, is the most important factor in engineering design. Further, the working fiber stress should be fixed in reference to the proportional limit instead of, as is usual, in reference to the ultimate strength. The incorrect use of the ultimate strength instead of the proportional limit in setting the working fiber stress is probably clue to two reasons: (1) it is a more delicate operation to measure the proportional limit; (2) it is usually -assumed, though incorrectly, that the proportional limit is determined by the ultimate -strength. In Germany the point at which permanent set first appears is often taken instead of the proportional limit. The two points will coincide if Gerstner's law, that elastic deformations are proportional to the loads producing them both before and after permanent set, is true; and the limit of proportionality and the elastic limit or point of permanent set will both 'be represented on a stress-strain diagram, by the point at which the line ceases to be a straight line and becomes curved-or changes its inclination. It is to be further noted that the difference in definition between proportional limit and elastic limit introduces a difference in methods of determination in the testing laboratory. The German method of determining. the elastic limit by alternately loading and unloading

Jan 8, 1915

G. A. Burr, Parral, Chihuahua, Mexico (communication to the Secretaryt): I regret that Mr. Norris did not give more attention to the hoisting of water in inclined shafts or slopes: the only slope mentioned being Hickory Ridge Slope, No. 4, of the Union Coal Co. The surface arrangement, illustrated in Fig. 12 of his paper, if not unpractical, is at least unscientific and cumbersome. It is my opinion that the back- and sideguides shown in Fig. 12 are not only unnecessary where rails are used as a track, but are unsafe, excepting in the case of a very firm hanging-wall, or roof, and sides of vein-matter, having absolutely no tendency, either to settle from the back, or to squeeze from the sides, an effect which would inevitably force the guides out of alignment. The accompanying illustration, Fig. 1, shows what I consider a better method of hoisting water than that described by Mr. Norris. This method is based on the general practice in metalliferous mines of the West, where skips are used in slopes; and, while it is not original with me, I have frequently used it with very satisfactory results for dumping both ore and water.

Jan 1, 1904

By D. A. Lyon

Discussion of the paper of DORSEY A. LYON and ROBERT M. KEENEY, presented at the San Francisco meeting, September, 1915, and printed in Bulletin No. 104, August, 1915, pp. 1707 to 1730. LAWRENCE ADDICKS, Douglas, Ariz.-I think papers of this character, while general in, nature, are of particular value and interest, because when we figure on competing with the East in electrometallurgical industries, on account of the cheap power on the Pacific Coast, we have to take two or three things into account. In the first place, power very rarely amounts to more than 20 per cent. of the total cost of an operation, even .though it be electrometallurgical, and I think it is the common opinion among those who are not familiar with those particular industries, that it amounts to more than 50 or 60 per cent. Take copper refining; we may say that it is 15 per cent. of the total cost. In the second place, around New York City, with 100 per cent. load factor and a reasonably large load, say 10,000 kw., we can generate from a certain class of coal 1 kw.-hr. for about 0.3c. I might say, however, that 0.3c. does not include overhead charges, interest on the investment, etc. The third factor we have to consider out here is that any product to be salable, must command a retail market. It would be useless to produce wire bars here on the Pacific Coast because there is no place to roll them. If we were going to establish a copper refinery, that part of its output which goes into wire bars would have to be taken care of by building a rolling mill alongside of it to turn it into wire and finally make a product that is salable. I do not think, however, that Mr. Lyon need have excluded copper refining from his industries. There are perhaps 50,000,000 lb. of copper a month refined in this country on a custom basis. I think the smelting companies would be very glad to build refineries here if conditions warranted it. The recent extensions of the Great Falls refinery and of the Tacoma refinery in the last few months give evidence of that.

Jan 12, 1915

By J. C. Fisher

Martensite transformations in steels and other alloys are characterized in part by the absence of composition changes during the growth of a new phase. Transformation occurs rapidly, and there is insufficient time for long range diffusion or partition of alloying elements to take place; martensite reactions in alloys thus are similar to phase transformations in single component systems. A fundamental understanding of martensite transformations in steels is impossible without knowledge of the free energy change upon transforming austenite (face centered cubic iron containing alloying elements) to ferrite (body centered cubic iron containing alloying elements) of the same chemical composition. The present paper assembles the best information available concerning the influence of temperature and composition on this free energy change. Most of the material has been taken from the work of Johansson,' Mehl and Wells,2 Zener3,4 and Smith;5 and indirectly, through these authors, from the work of Austin.6 In agreement with the generally accepted viewpoint, martensite is assumed to be an ordered solution of carbon in ferrite of the same composition as the parent austenite; only at high temperatures and low carbon concentrations is the carbon in ferrite distributed at random. The properties of the disordered solution are estimated by extrapolating the known properties of iron-carbon solid solutions into the range of supersaturation, and the free energy change associated with ordering is estimated from the theory developed by Zener. By incorporating Smith's recent thermodynamic measurements and Zener's theory of ordering, the present analysis modifies previous estimates of the free energy change associ- ated with martensite transformations. Consider a two component system consisting of a solvent A and a solute B. Let Na and Nb represent mol fractions of A and B respectively, let aa = raNa and ab = YbNb represent activities, and let superscripts 1 and 2 refer to phases 1 and 2. The partial molal free energies of A and B in phases 1 and 2 can be summarized as follows: free energy standard state Fa' - Fao1 = RT In an1 pure A' Fa2 - Fa2 = RT In aa2 pure A2 Fb1 - Fbo = RT In ab1 pure B Fs2 - FB2 = RT In aB2 pure B. The free energy of a gram atom of phase 1 is* AF1 = Na'Fa1 + Nb'Fb1 and that of phase 2 is AF2 = NA2FA2 + NB2Fb2. A martensite transformation from phase 1 to phase 2 requires Na1 = Na2 = Na and NB1 = NB2 = Nb, and the free energy change per gram atom accompanying transformation is AFi-2 = NA(Fa2 - Fa1) + Nb(Fb2 - Fb1) = NA[RT In (aA2/aA1) + AFa1?2] + Nb RT In (aB2/aB1) = Na[RT In (ra2/ra1) + AFa1?2] + Nb RT In (TaVTB1). [1] where yn2, yn1, yB2, yB1 are activity coefficients, and where Ma'+* is the free energy change upon transforming a gram atom of pure A from phase 1 to phase 2 at the temperature in question. For martensite transformations in plain carbon steels, A = iron (Fe), B = carbon (C), 1 = austenite (7). 2 = ferrite (a), and Eq 1 is AFr ?a= NFe[RT In (rf.a/rfer) + AFF.r?a] + TVc RT In (eca/rc1)- L2] Nothing is known concerning the values of yFea and yca for carbon concen- , trations in excess of 0.025 pct. However, the approximation rf.7 = 7f." = 1 cannot be appreciably in error for small carbon concentrations, and Eq 2 reduces to Afr-a = NfeFfer?a1 + NC RT In (rca/rcr)- [3] Johanssonl and Zenera have calculated MFfr?a from the specific heat measurements compiled by Austin.6* Their calculated values agree closely, and are summarized in Table 1. The activity coefficients relative to graphite for carbon dissolved in iron vary with temperature according to the relationships d In rcr/d(1/T) = AHcr-R dlnyca/d(l/T) = AHCa/R where AHc? and AHca are the heats of solution of graphite in y and a iron. Assuming the values of AH to be independent of carbon concentration and temperature, In rCr = AHcr/RT + I1 In rca = AHCa/RT + 12

Jan 1, 1950

By AIME AIME

THE steel industry has always been noted for producing men of forceful and versatile personality, many of whom combine the practicality that results from wide experience with an excellent theoretical background that comes from a college training plus years of wide and constant study of metallurgical literature. One of the best known examples of this type is Earle C. Smith, present Chairman of the Iron and Steel Division. After graduating from Ohio State and from Columbia, where he studied under Campbell, Earle started his career at that grand old prewar training school for steel men the Illinois Steel Co., where in the days of the twelve-hour shift he worked on the open-hearth floor. Following World War I, when he was in charge of government inspection at the Central Steel Co., Massillon, Earle held successively jobs of increasing responsibility with Central Alloy Steel, and when this company was taken over by Republic in 1930 he was made assistant district manager and a few years later was appointed chief metallurgist of the whole corporation.

Jan 1, 1942

By W. H. Caruthers

ECONOMIC utilization of all by-products has long been the goal of American industry. One of the first groups that was popularly supposed to have achieved its aim was the meat-packing industry, which reputedly found a use for everything except the squeal of the hog. To the metallurgist, slag has always been the principal wasted by-product, representing a loss not only of material, but of heat. Slag does not possess many qualities that appeal to man's imagination or suggest a romantic influence on the daily life and progress of a community or nation. It is a bulky product, and space for its disposal within reasonable hauling distance of a smelter is not always available; the iron-ore smelter especially has been wont to find space for slag disposal at a premium. Therefore, the success that has been attained in recent years in finding a use for iron blast-furnace slag is notable. It has become a vital economic factor in the construction industry in areas where it is available. Its use may suggest further possibilities of an economic outlet for the slags from nonferrous smelting as well.

Jan 1, 1940

By Chas. A. Ashburnea

THE appliances which have been proposed, and the modifications in the construction of boiler-furnaces which have been made for the prevention of smoke, and the utilization of what are ordinarily called the waste products of combustion, have been innumerable.† †There is now open in London an exhibition "of apparatus of all kinds devised to prevent smoke."

Jan 1, 1882

By F. E. Bachman

Although it has been apparent to me for a long time that too great weight was currently given to the silicon-contents of foundry-iron, and that the theory of the control by silicon of the carbon-contents of cast-iron is unsound, or that, at best, the influence of silicon is too small to be of much practical value as a guide in foundry-work, it never seemed to me desirable to enter the lists against either the " silicon-fad " or the theory, for the reason that I had neither the time nor the facilities to prove my position, nor any better theory to offer. But since Mr. Summers has taken the step, it seems but right that I should give such facts as are at hand in support of his contention. At the same time I do not think these are enough to prove the case if the contrary proposition were not itself, as it seems to me, based on insufficient evidence. Both Keep's and Turner's conclusions seem to be drawn from irons carrying less than the normal amount of carbon; Turner's " base " being, moreover, a steel rather than a pig-iron, and both the white base and the ferro-silicon of Keep being so low in carbon that compounds of them would not give a material approaching the carbon-contents of a normal casting, and having, therefore, little value as showing the effects of silicon on foundry-irons, even if his samples were treated under the same conditions as those to which pig-metal is subjected in making castings.

Jan 1, 1899

By T. P. Meloy

Economic constraints require that the optimum mineral processing circuit be chosen for a given ore and then the circuit be optimized. Meloy (1983) developed a general methodology for finding the best circuit for a given ore. This analysis, however, did not specify a way to optimize the best circuit once it has been found. To optimize a given circuit, it is necessary to find the optimum set points for each unit operation in the circuit. Developed in this paper is a simple, general equation which, when applied, defines the optimum separation set point for the maximum mineral grade. This general equation, Equation (4), applies not only to simple ores, but also to complex ores containing variable and locked particles. Currently, the optimum set point can be calculated only for heavy media and cyclone circuits, because they are the only unit operations for which the necessary data has been measured.

Jan 1, 1984

By Richard P. Rothwell

FIRES in mines are so serious in their consequences and of such frequent occurrence, that their causes and the means of extinguishing them are certainly questions of the greatest interest to a large part of the engineering profession. We have already, in this country, many mines which have been burning for years, and though our hard anthracite is so difficult to ignite that for a quarter of a century after it was first discovered it was not known how to burn it except with the aid of an artificial blast, yet most of the fires which have occurred underground have been in anthracite mines, and in the coal itself. The injury which these fires have caused to properties in various parts of the anthracite regions, and the cost of extinguishing them, would amount to many millions of dollars, and they have also occasioned the loss of many valuable lives. It is not surprising, therefore, that the subject has already attracted much attention, and the exercise of great ingenuity ; and the present communication is made less with the expectation of announcing anything new, than with the object of putting upon record the present state of our knowledge on this subject, or, in other words, of indicating how defective are the present means of combating underground conflagrations. (Causes of Mine Fires.-Even upon the surface, fire is a terrible foe to contend with, and there is probably no other which inspires such thorough and well-founded alarm. With what feelings, then, must we look upon this destructive element, when its field is in the narrow galleries of a mine, where the poisonous products of combustion, spreading in every direction, protect, in the most effectual manner, the fire itself from the attacks of extinguishers, while, if the face of attack be ventilated so as to enable them to approach the seat of the fire, the air current simply increases the extent and violence of the conflagration. Fires underground originate in as various ways as those on the surface, and it is scarcely necessary to say that, except in the rare cases where they are the result of design, they are invariably classed as " accidents," and most generally as " unavoidable accidents." In reality, by an intelligent understanding of their causes and with due precautions, they can almost always be prevented. Ignorance and

Jan 1, 1876

By Eugene Guccione

Evidence that the United States is gradually converting to the metric system of measurement can be perceived today even by housewives in a supermarket. The question is no longer whether but when the country will have completed the conversion. To the extent that any bickering about metrication still exists, the debate now centers on such issues as finding agreement on details of implementation, and whether federal legislation should speed up the metric-conversion process or allow it to proceed along its present evolutionary and voluntary course. Apparently, the voluntary or "make-haste-slowly" approach is gaining widespread support. According to The Research Institute of America, Inc., if and when federal legislation is enacted it will likely include the following national ground rules: (1) A National Metric Conversion Board will develop and submit to the President and Congress a comprehensive plan to achieve a coordinated, minimum-cost changeover. (2) The change- over will be completed 8 to 10 years after the board's plan goes into effect, and by that time the US will be predominantly, though not exclusively, metric. (3) Costs will "lie where they fall"; subsidies, special tax concessions, and antitrust exemptions will not be authorized by the legislation. (4) The changeover will be voluntary because of the recognition that while some firms can "go metric" in a matter of weeks, others may require 15 years or more, and a few might never convert. (5) In determining whether or not to convert, on an individual company basis, adherence will be to the "rule of reason-that is, ". . . do not convert unless the engineering, economic, or other benefits outweigh any metric-related disadvantages. No one is talking about rip- ping up our railroad tracks or rewiring our homes just to conform to the practice of metric nations in Europe." (6) Government is to be part of the solution, not part of the problem; in effect, says The Research Institute of America, the leverage of federal procurement will not be exerted to force-feed the metric changeover but will be coordinated with the sector-by-sector conversion of the economy.*

Jan 12, 1975

By Paul L. Burkhart

THOUGH at an earlier period brief studies had been made by the Lehigh Navigation Coal Company Inc., it was not until 1924 that J. B. Warriner, then general manager, called for a comprehensive study of timber treatment, treating solutions, and related operations. Because of the impossibility of procuring accurate costs and other pertinent treating data, the American Wood Preserving Co. agreed to treat a car of mine timber at the Port Reading plant of the Reading Railroad. Fig. I shows the treating data collected at the treating plant on this timber, which was installed in two of the Lehigh mines in 1925. Table i.—Results of Timber Survey in 1925 before Treated Timber Was Introduced Length of tunnels and gangways ft..... 522,987a Length of tunnels and gangways timbered, ft.................................. 224.880 Number of steel mine sets in use......... 2,412 Number of timber sets in use............ 63,834 Number of timber sets with evidence of rot 50: 419 Number of timber sets with evidence of squeeze..... ...................... I3,415 Percentage of all timber sets showing evidence of failure: BY wet rot........................ 6.0 By dry rot........................ 73.0 By squeeze....................... : Average life of wood set in Panther Valley, years............................... 5.3 • 99.05 miles. In the latter part of 1925, a survey of the tunnels and gangways of the company's Panther Valley mines was made to determine the proportion of gangways or tunnels timbered, cause of timber failures, approximate life of the average wood set and the approximate percentage of treated timber that it would be profitable for the company to use. Results of this survey appear in Table I. Because of the high percentage of timber that gave evidence of failure by rot, as noted in Table I, and a further study of the life of the sections where timbering was necessary, it was deemed advisable to fill 25 per cent of the yearly gangway timber requirement with treated timber. Quantities and Treatments OF Treated Timber Purchased In the early days of the program, none of the large treating companies would accept orders for small quantities of treated timber and the company was compelled to state the quantity of timber it would require at each operation in each month of the year. Table 2 is an example of the tabulation given to the various treating companies to assist them in making a yearly bid on the minimum quantity of timber required by the company during the year 1931. A bill of timber was calculated for each car, the weight of which would be between the minimum and maximum weight permitted for railroad-car loading. The treating company was paid for timber upon delivery at the operation specified. As extra cars of timber were required, they were ordered from the treating company, and payment was required On their receipt, on the basis of the piece or tonnage

Jan 1, 1942

By Paul L. Burkhart

THOUGH at an earlier period brief studies had been made by the Lehigh Navigation Coal Company Inc., it was not until 1924 that J. B. Warriner, then general manager, called for a comprehensive study of timber treatment, treating solutions, and related operations. Because of the impossibility of procuring accurate costs and other pertinent treating data, the American Wood Preserving Co. agreed to treat a car of mine timber at the Port Reading plant of the Reading Railroad. Fig. I shows the treating data collected at the treating plant on this timber, which was installed in two of the Lehigh mines in 1925. Table i.—Results of Timber Survey in 1925 before Treated Timber Was Introduced Length of tunnels and gangways ft..... 522,987a Length of tunnels and gangways timbered, ft.................................. 224.880 Number of steel mine sets in use......... 2,412 Number of timber sets in use............ 63,834 Number of timber sets with evidence of rot 50: 419 Number of timber sets with evidence of squeeze..... ...................... I3,415 Percentage of all timber sets showing evidence of failure: BY wet rot........................ 6.0 By dry rot........................ 73.0 By squeeze....................... : Average life of wood set in Panther Valley, years............................... 5.3 • 99.05 miles. In the latter part of 1925, a survey of the tunnels and gangways of the company's Panther Valley mines was made to determine the proportion of gangways or tunnels timbered, cause of timber failures, approximate life of the average wood set and the approximate percentage of treated timber that it would be profitable for the company to use. Results of this survey appear in Table I. Because of the high percentage of timber that gave evidence of failure by rot, as noted in Table I, and a further study of the life of the sections where timbering was necessary, it was deemed advisable to fill 25 per cent of the yearly gangway timber requirement with treated timber. Quantities and Treatments OF Treated Timber Purchased In the early days of the program, none of the large treating companies would accept orders for small quantities of treated timber and the company was compelled to state the quantity of timber it would require at each operation in each month of the year. Table 2 is an example of the tabulation given to the various treating companies to assist them in making a yearly bid on the minimum quantity of timber required by the company during the year 1931. A bill of timber was calculated for each car, the weight of which would be between the minimum and maximum weight permitted for railroad-car loading. The treating company was paid for timber upon delivery at the operation specified. As extra cars of timber were required, they were ordered from the treating company, and payment was required On their receipt, on the basis of the piece or tonnage

Jan 1, 1942

By Charles Macdonald

WROUGHT-IRON eye-bars for bridges and roofs, designed upon what is known as the pin connection system, have been successfully manufactured in this country for some years. The most approved methods employed have been the hydraulic upsetting process, and by die-forging under a hammer. In upset eyes the fibre of the iron is necessarily much distorted ; and in bars of considerable size, this disturbance seriously impairs the strength of the connection. Mr. Collingwood, in discussing my paper on "Proportions of the Heads of Eye-bars," read before the American Society of Civil Engineers, Jan. 21st, 1874, submitted sketches of certain bars intended for the anchorage of the East River bridge, which had been exposed to the action of sulphuric acid a sufficient length of time to thoroughly cleanse the surfaces, and expose the condition of the fibre. These sketches are here reproduced for the purpose of illustrating the effect of this methpd of manufacture. In Figs. 1, 2, and 3, it will be observed that the fibres at A, and E, have been folded back upon themselves and otherwise twisted and disturbed, in a manner not calculated to inspire confidence in the integrity of the connection. To compensate for this defect, a large excess of metal is thrown into the eye; but a method of manufacture which involves such a necessity, even although it be the one giving the best results thus far, all things being considered, is far from being perfect.

Jan 1, 1879

By Charles Macdonald

Wrought-iron eye-bars for bridges and roofs, designed upon what is known as the pin connection system, have been successfully manufactured in this country for some years. The most approved methods employed have been the hydraulic upsetting process, and by die-forging under a hammer. In upset eyes the fibre of the iron is necessarily much distorted ; and in bars of considerable size, this disturbance seriously impairs the strength of the connection. Mr. Collingwood, in discussing my paper on "Proportions of the Heads of Eye-bars," read before the American Society of Civil Engineers, Jan. 21st, 1874, submitted sketches of certain bars intended for the anchorage of the East River bridge, which had been exposed to the action of sulphuric acid a sufficient length of time to thoroughly cleanse the surfaces, and expose the condition of the fibre. These sketches are here reproduced for the purpose of illustrating the effect of this method of manufacture. In Figs. 1, 2, and 3, it will be observed that the fibres at A, and E, have been folded back upon: themselves and otherwise twisted and disturbed, in a manner not calculated to inspire confidence in the integrity of the connection. To compensate for this defect, a large excess of metal is thrown into the eye; but a method of manufacture which involves such a necessity, even although it be the one giving the best results thus far, all things being considered, is far from being perfect.

Jan 1, 1879

By Randall L. Neal

This paper discusses the impact of taxes at the state and federal level on typical on-shore oil and gas exploration economics in the USA. Taxes considered are the windfall profits excise tax, state production (or severance) taxes, state income tax, and federal income tax. Also considered will be market prices for oil and gas in the USA. The effect of government take as a percent of revenue, on rate of return, discounted Payout, and discounted cumulative cash flow is shown on the attached tables. The conclusion drawn is that tax laws, while rarely the most important factor to be considered when drilling a well, can have significant impact on the profitability of oil and gas ventures, and should be considered when determining where to drill. Hypothetical exploration wells were analyzed for the impact of tax laws on project profitability. The results of this study show that when factors other than taxes are postulated to be the same (such as producing rate, capital, operating costs, and prices), cash flow can vary by as much as 68% due to the differences in the tax laws. Other significant findings for the cases studied include: (a) that discounted payout varied by as much as 1.8 years, (b) that rate of return differed by up to 67% and (c) the total tax rate as a percentage of revenue had a maximum variance of 33%.

Jan 1, 1982

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