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By Barnabas Bryan

During the boom period of 1928 and 1929, several oil companies took advantage of high security prices to sell stocks, thereby securing money for the company very cheaply. Few if any of those companies realized that the money received was not at all cheap in view of the fact that it was for investment in fixed assets at inflated prices. Suppose a company borrowed twenty millions of dollars to expand its marketing facilities during the boom. It diluted its capital and acquired fixed property which could not earn its interest requirements during the following deflation and therefore consumed income from other company activities. The company also had to stand the deflation in the capital value of all the property it bought. Since the mistaken expansion during the boom accelerated the decline in net income during deflation, the financial position of the company was harmed in proportion to the amount of that expansion. Thus the company was unable to get money to buy fixed assets in the depression when all property is cheap. The same condition holds for the company that sold common stock for the purpose of developing potential production in a newly discovered oil field. Regardless of what the ultimate value of the new field may be, potential production does not increase the net income of the company. The difficulty of meeting the enlarged dividend requirements due to the increased number of shares outstanding impairs the financial position of the company during deflation in some relation to the probability of decreased dividends. This company also is not in a position to expand during the depression when properties and companies can be bought for a fraction of their real value. Expansion of fixed assets during boom times has been the ruin of many otherwise good companies. Some of those which most extensively bought property during the post-war boom have not yet recovered. A number of cases could be cited in sugar, leather, fertilizer and wool. This does not seem to be governed by the quality of the property bought, for examination shows the assets to have been of individual high quality in many cases. When recovery is long deferred it is likely to be true, as in sugar or textiles, that the industry has a large "potential" capacity for overproduction.

Jan 1, 1931

By John P. Harmon

This paper was written with two objects in view: (1) To describe in detail what has been done toward the ventilation of the main unit of the Portovelo mines and the results; (2) to give information that may be useful to anyone who may have to make a preliminary mine ventilation survey, with recommendations for the improvement of the existing system and finally the maintenance of the improved system. General Description The mining operations of the South American Development Co. at Portovelo, Province of El oro, Ecuador, are described here only briefly, as a full discussion does not fall within the scope of this paper. The orebodies are of the steeply dipping, gold quartz vein type, averaging about 2.0 meters wide. As shown in Fig. 1, the ore chutes are relatively far apart, making considerable development work necessary before connecting raises can be driven between the levels. Faulting' on a large scale and a parallel vein system have made long dead-end drifts and many crosscuts necessary in the exploration of veins. The ventilation of these dead ends is described under Auxiliary Ventilation. The method of mining2 is the filled rill stope method, similar to the method that is largely employed at the Butte mines. The main shaft of the mine is in the Amarillo Valley, on either side of which mountains rise abruptly to a height of several hundred feet above the collar of the shaft. Entrance is made to the mine: (1) Through the American shaft, which extends vertically from the surface to a depth of 1100 ft., of which only the first 700 ft. are in active use at the present time; (2) levels are driven from the American shaft at intervals of 30 m. (100 ft.), of which only the third, fifth and seventh levels need be considered in the ventilation problem; (3) adits at intervals of 30 m. (100 ft.), with a few exceptions, above the collar of the American shaft.

Jan 1, 1931

By L. P. Teas

Although 1930 has been a year of stagnation, proration and curtailment, the Gulf Coast has measured up to its tradition in the matter of interesting and significant discoveries. Only 2 domes and 7 new structural areas were brought into the producing column in 1930, whereas, in 1929, 13 domes and one structure were added to this list, yet a total of 14 new producing horizons were proved on various domes and structures. On 5 domes new flanks were successfully tested for commercial production. The year 1930 has shown at Barber's Hill that oil in commercial quantities may exist below salt or cap. Numerous wells have been drilled through cap, or even salt itself, into good producing sands. The past year has been particularly notable in the interest and in the number of deep holes drilled. Two wells have gone below 8000 ft. in each of the states of Texas and Louisiana, and in the two states together 14 wells have gone below 7000 ft At the beginning of the year only one well was producing below 6000 ft. in coastal Texas, while at its end, 19 wells were producing or had produced. Geophysical discoveries and activity on the Coast have waned and this type of work has moved further inland. The peaks of production at Pettus, Barber's Hill, Raccoon Bend, Refugio, Orchard and at Humble, in Texas; and at Lake Barre, Port Barre, Black Bayou, White Castle and Vinton in Louisiana, were seen this year. These were new peaks for Humble and Vinton, of course, these fields having previously gone through periods of peak flank production. In Table 1 the completions listed are for the entire month of December in both years. It is remarkable that in 1930, a year of overproduction and proration, there were actually more wildcat operations at its end than at the end of 1929; but it is gratifying that the operations in the proven fields were exactly one-half what they had been at the end of 1929. The price of A grade coastal crude, or oil below 25" Bé., has been cut from $1.30 at the beginning of the year to $1.00 at its close; and B grade, or oil above 25o Bé., has been reduced from a price range of $1.15 to $1.63 down to a range of from $0.75 to $1.22. In spite of these reductions there has been no proration program on the Coast. Systematic

Jan 1, 1931

By S. H. Ash

The coal-mining districts of Washington are mainly situated west of the Cascade Mountains. The eastern boundaries of Whatcom, Skagit, Snohomish, King, Pierce, and Lewis Counties, shown in Figure 1, form the backbone of the mountain range. The mines are on the foothills of the slope and extend to the shores of Puget Sound in the central and northern portions. The subbituminous fields of Lewis, Thurston, and Cowlitz Counties extend into the valleys west of the mountains. The Roslyn field, a small but important area, Lies on the eastern slope of the Cascade Range. If western Washington is divided into three areas from north to south the bituminous coal fields and most of the active mining operations will be found largely in the central area. In the southern portion there are large areas of subbituminous coals of varying quality extending from Centralia to the Columbia River. In the northern portion, mining is at present practically restricted to one mine which is working a subbituminous bed near the city of Bellingham.

Jan 1, 1931

By R. I. C. Manning

The Old Dominion Co, at Globe, Ariz., like the: Phelps Dodge Corporation with which it is closely allied, considers safety a major operating problem. Safety is fostered by this company in consideration of both the humanitarian and economic aspects; the officials, take pride in promoting the welfare of employees, and the management has found that the safest way is the most eco¬nomical and that unless an organization is operated economically it can not continue to exist successfully. In planning and operating any safety, organization, terry things must be taken into consideration because an Enterprise can not be operated solely for safety any more than it can for any other single part of the operations. All work must be planned and executed for the common interest.

Jan 1, 1931

By Alan M., Bateman

MR. JORALEMON'S dispassionate discussion of this subject in TECHNICAL PUBLICATION 340 of the Institute shows clearly some of the failures and successes of geology in the discovery of ore deposits. He forces us to recognize, with humility, that chance has played a greater part than geology in the recent discovery of several great copper deposits. I think, however, he wrongly ascribes to unexpected or chance discovery some deposits that were found as a direct result of geological investigation. I refer to the Rhodesian copper deposits,, particularly Roan Antelope and Mufulira, both mentioned by him as having been found by chance. Also,. I think Mr. Joralemon's paper, inadvertently, does not- give the proper credit for the early recognition of the possibilities of these deposits. I feel sure that Mr. Joralemon and the gentlemen given credit by him will welcome any further information on this subject that will throw light on what will some day- be of. historical interest and importance. Consequently, I should like to set forth some additional data that throw light on who should receive the most credit, and' to indicate that, in my opinion, sound. geological reasoning and not chance is to be, credited for the development of the. Roan Antelope and Muf ulira mines.

Jan 1, 1931

By Ludwig Schmidt

This report, the second of a series, presents the results of laboratory corrosion studies which were made in connection with a one-year test on aluminum lease tanks conducted by the United States Bureau of Mines. Part I of the report contains the results of the field teats.5 The studies were made on an oil lease in a so-called "sour district," near Borger, Tag., where free hydrogen sulphide accompanied the production of oil, gas, and salt water. Steel tanks previously used on the lease had suffered severe corrosion, because steel is inherently susceptible to attack by hydrogen sulphide. Because of the high resistivity of aluminum to the action of hydrogen sulphide, it Was believed that this metal had promising possibilities as a material for the construction of lease tanks in "sour districts." The results of the one-year field teat proved that aluminum lease tanks will withstand corrosion by hydrogen sulphide, but it was found that aluminum was susceptible to attack by salt water, which was invariably present in certain portions of the tanks, and that hydrogen sulphide accelerated this salt-water corrosion in an indirect manner, as will be explained hereinafter. In order to study corrosion conditions encountered in the tanks during the test period, a laboratory was maintained at the site of the aluminum lease tanks.

Jan 1, 1931

By R. D. Leitch

The work of the United States Bureau of Mines on stream pollution by coal-mine drainage has included a study of seasonal variations in acidity and volume of several streams in Pennsylvania. The acidity of these streams has been determined during the two or three years prior to 1930 and the results may be considered to represent "normal" low water conditions. The summer of 1330, however, was unusually dry and represents what may be termed "extreme low water conditions on these streams. This report is a comparison of the results obtained for extreme low water of 1930 and for other years. The streams investigated were Buffalo Creek in Somerset County, Indian Creek (lower 5 miles) in Westmoreland County, Little Toby Creek in Elk and Jefferson Counties, Daguscohonda Run in Elk County and West Creek in Elk and Cameron Counties. These will be treated separately in the order given. Most of the descriptive matter and physical data pertinent to the streams and drainage basins are taken from published reports of the Pennsylvania State Water Supply Commission, 1917.

Jan 1, 1931

By T. A. Rickard

An educated man is distinguished neither by his clothes nor by his knowledge; he is replarkable not for the things he says, but for the way he says them. You cannot even stand with him under an archway in the rain without finding him out. He may talk only of the weather. His words and his phrases alike may be simple. -at distinguishes him is the arrange- ment of his words; however desultory his talk, it will be method- ical; he has habituated himself to foreseeing the part to be played by each word he uses and the place to be taken by each sentence he utters. On the other hand, the uneducated man, though shrewd and well-informed, will relate facts and events as they recur to him, generally in disorder; in his effort to recollect and in his attempt to rectify forgetfulness he will pause irregularly, filling the intervals with meaningless phrases, such as "and then ", "and: so ", or 'said he to me", "said I to him"; and even the contipuous parts of his story will be told confusedly-because he has not learned the proper use of words.* My own experience as an editor of technical manuscripts has taught me that the misuse of 'that' and 'which' is a fruitful cause of obscurity and confusion. The relative pronouns have distinct functions, and no writer can express himself clearly until he has learned to discriminate between these I functions. For example:

Jan 1, 1931

By H. B. Hill

The Salt Flat field, formerly called the Toe -Bruner field, is located northeast of the town of Luling in Caldwell County, Tex. This field, which is a fault structure, approximately parallels and is about 5 miles east of the Old Luling field. The proved area is approximately 1,280 acres, on which 332 producing wells (September, 1930) have been drilled. The majority of the wells are producing from the Edwards limestone at an average total depth of 2,700 feet. A few wells are producing from the Austin chalk or from other formations above the Edwards limestone. The Wilcox formation is exposed, and the fault trace in places is scarcely evident. The strike of the structure is approximately 111. 20 to 45° E. The displacement of the fault is probably 200 to 500 feet. The discovery well was completed in the Austin chalk by the Lutex Oil Co. during April, 1928. In October, 1928, the Sun Oil Co. completed the discovery well in the Edwards pay. This well was an important discovery, as it indicated the potential oil possibilities of the Edwards limestone in echelon fault structures. The discovery led to the development of the third fault field in the Edwards limestone and opened up a large area for future prospecting. The total oil production for the Salt Flat field to and including September, 1930, was 19,833,215 barrels. The most reliable figures available of water production were compiled for a number of leases and wells in the south half of the field. These data show that the water percentage for the average well in this part of the field increased steadily from 30 per cent for January, 1929, to 81 per cent for December, 1929. The estimated daily water production of the entire field for December, 1929, was about 82,000 barrels as compared with a daily oil production of 29,725 barrels; or approximately 2.7 barrels of water were produced with each barrel of oil 14 months after the discovery well was completed in the Edwards pay. Estimates of water production in the (Old) Luling field, which is near the Salt Flat field, place the daily water production at about 150,000 barrels (July, 1929) as compared with a daily oil production of 11,000 barrels. These figures indicate that in the Luling field approximately 14 barrels of water must be lifted for each barrel of oil produced. The Luling field was discovered in August, 1922, and a peak annual production of 10,210,000 barrels was reached during 1924. The production during 1928 was 5,057,000 barrels of oil from an average of 567 producing wells for the year. Although water appeared early in the life of the Luling field, the oil production has been well sustained. Another feature of outstanding interest is the comparatively few producing wells that have been abandoned on account of water during the soven years of operation of this field. Comparison of data between the Luling and Salt Flat fields is of importance because of the nearness of the two fields. The Luling field is a narrow strip or "shoestring" approximately 8 miles long, with a maximum width of 3,400 feet. Production is obtained in the Edwards limestone at an average depth of 2,200 feet on the upthrow side of a fault. Similar conditions of accumulation are found in the Salt Flat field at greater depth to Salt Flat field as outlined (April, 1930) is about 7 miles long? with a maximum width of 2,000 feet. At the time the field work was begun (July, 1929) in the Salt Flat field, drilling operations had been almost completed in the south half of the field, while the north half was still under development. Cross sections and a structure contour map interpret the subsurface conditions in the south half of the field, where the water conditions first became serious.

Jan 1, 1931

By J. R. FINLA

THE three great war periods of recent times involving the-chief industrial, commercial, and military nations of the world have been the following: 1. Wars centering around the French Republic and Napoleon Bonaparte, .1791-1815;. involving every nation in Europe, parts of Asia Minor and *North Africa., and the United States of America. 2. Wars in Europe, Asia, and North -America beginning with the Crimean War, 1854-56, the British Empire, France, Sardinia, and Turkey against Russia; the Sepoy rebellion in India, -1857; -war of France . and Sardinia against ..Austria in Italy, .185.9; :the Taiping rebellion in China, 1861; Civil War in , America, 1861-65; French. occupation .of .M Mexico, .1863; Prussian war against :Denmark, :1864; (Prussia and Italy against Austria sand various -south German : states, 1866; :the Franco-German War, 1870.7,1.

Jan 1, 1931

By Lewis Carroll

AS he contemplates the numerous good things the hard-working committees have evolved for the 140th Meeting of the Institute, the Editor knows just how the walrus felt when he uttered his memorable, if somewhat lugubrious lines. For there are the Annual Reception and Dinner at the Commodore, 'the Gold Supply Symposium, the luncheons, general and special, and the Annual Institute of Metals Lecture, a Round Table on Iron Ore and a wonderful Informal Dance at the Grand Central Art, Gallery, substantial general sessions, a Smoker-and many other things. -Old, friends and new, reminiscences and confidential chats, horizons pushed back by new information and adjusted perspectives, courage revived and ambitions stimulated-one with a flair for the modernistic might make something-or nothing-of the kaleidoscopic preview 'of the coming Annual Meeting.

Jan 1, 1931

By V. L. Eardley-Wilmot

Diatomite as prepared for the market is a fluffy, white powder, remarkably light in weight-it weighs only 10 to 15 pounds per cubic foot, or one-tenth as much as sand. Being extremely porous and inert, it is in large and increasing demand for insulation and filtration purposes, as general filler, and for many other uses. Structure Structurally, diatomite is quite different from any other known commercial material. It is composed of myriads of microscopically small, siliceous shells of diatoms which belong to a group of flowerless aquatic plants called algae. When these plants die, the siliceous remains sink to the bottom of the water and form beds of diatomite. Over 8,000 species of diatoms are known, named, and tabulated. The intricate scroll-work and patterns on many of these are one of the marvels of nature, and yet so small are they that from 40 to 70 million separate diatoms may be contained in one cubic inch of material. However, the size and shape of these diatoms, which vary greatly (compare Figures 5 and 6), have an important bearing on the commercial use of the diatomite. The diatoms in the majority of the known deposits are so typical of that deposit that, after a micro-examination, an expert can usually tell not only from what part of the world, but also from what particular deposit, the sample has come.

Jan 1, 1931

By T. A. Rickard

The writing that is effective is woven with a fine texture into an agreeable pattern; it is free from knots, loose threads, and stray fluff. The instrument that weaves this literary fabric, whether it produce a homely sock or a lordly tapestry, a simple story or a learned 'Itreatise, is a disciplined intelligence, as sure as a steel needle, as precise as a swift loom. The simile breaks down at this point, for the product of the pen is instinct with the human spirit and therefore transcends in beauty anything made by a mere machine. If words are to be woven into eloquent meaning, they must be well knit. Upon the relation of words to each other and of groups of words to other groups, known as phrases, clauses, and sentences, depends the success of writing as a means of trans¬mitting thought from man' to man. To be understood beyond question, you should know not only what your words denote but how to build your sentences; you must not only choose your words aright but construct your sentences properly. A sentence is a combination of words that makes complete sense; it says something about something. ' A clause is a subordinate sentence or a sentence within a sentence. A phrase is a group of words without a predicate; it makes sense, but not complete sense. For example: I shall wait for a few minutes before I go home: The whole statement is a sentence; "I shall wait" and "before I go home" are clauses; "for a few minutes" is an adverbial phrase. The orderly arranging of words and of combinations of words is called `syntax'; and from the original Greek form, ouvaeis (suntaxis), is derived the Greek name for an editor,

Jan 1, 1931

By E. M. Wise

WHEN man became dissatisfied with the mere utilization of physical force and began to use weapons, he made a definite stride forward. At first he used sticks, animal bones and stones, often rudely shaped to some particularly lethal form. These devices, while crude, were moderately effective. How- ever, some of the brighter men of the tribe found that certain particularly heavy "stones" were somewhat ductile and could be hammered into more effective weapons than those previously known. Later, probably through the misuse of one of these weapons to stir the campfire, it was found that heating softened and perhaps actually melted the material. The process of annealing had been discovered! Smelting the more easily reducible metals was in all probability one of those fortuitous accidents which was followed up by thoughtful researchers who ultimately developed the technique of mixing various ores to produce bronze and even some of the nickel content alloys. The resulting products were at first lumps of more or less ductile material which could be hammered to shape, and were thus incidentally hardened by this process. The hardening of metals by alloying and cold working remained for many centuries the only known methods for improving their properties.

Jan 1, 1931

By Paul D. Merica

DURING the Dark Ages, when metallurgy was practiced by the alchemists, any unusual or disturbing variation in metallurgical operations was ascribed to the, presence, in the metals or ores, of an evil spirit, and it was necessary to exorcise and drive it out "by suitable incantations. In this day of science and of engineering, things still incomprehensibly go wrong in the metallurgist's work shop. The metallurgist is even now not unwilling to lay the blame for many such experiences at the door of something which intellectually- much resembles an evil spirit, "gas in the metal." The presence of gases in his metal, he knows, occasions him many very definite troubles which he can clearly distinguish and diagnose-why may it not be also responsible for those which he cannot so well understand?

Jan 1, 1931

By C. L. HUNTZINGER

THE mine here described is in the Witbank district, a coal area of the Transvaal, about 100 miles north- east of Johannesburg. and is owned by the Witbank Colliery, Ltd. The plant has a capacity of 4000 tons per eight hours, and prepares five sizes of coal. The coal seam lies at a depth of about 200 ft. below the surface, and is reached by an inclined shaft sunk at an angle of 18° with the horizontal. Although the thickness of the coal seam varies from 10 to 14 ft. or more, only about a 7-ft. bench is mined. Mining is by the hord and pillar system. Bords are driven 18 ft. wide, with pillars measuring 18 ft. square. The mine is laid out into four sections, each sewed by a main haulage way from the shaft. Arc-wall machines are used for cutting the coal. but all loading is done by hand. Native labor is employed under the supervision of white miners, who do the required blasting. The workings are practically free from gas and water, and very little timber is needed.

Jan 1, 1931

By George S. Rice

STUDIES of ground movement and subsidence caused by mining necessarily chiefly deal with causes and effects of making extensive excavations underground with spans beyond the strength of the un- supported or temporarily timbered roof or hanging wall. Perhaps no other phase of engineering is so de- pendent for results upon the assemblage of what may be called "experience data." That this is the case is cot surprising when one considers the number of variables involved in any at- tempted mathematical formula to determine the angle of draw or the angle of permanent slope of the rocks in any particular case. It is not like dealing with construction materials in which, through testing of. small specimens, in conjunction with the tests of large built- up specimens, relative stresses and strains may be deter- mined and formulas closely approximated for still larger constructions.

Jan 1, 1931

By C. K. Leith

THE outstanding fact of the mineral world today, at home and abroad, is the surplus of current production, and particularly of capacity for production, over current requirements. This is not by Any means a new condition, but never before has it loomed up in such' menacing form. - Those of us who have devoted most of our professional efforts to the discovery and development of 'new mineral supplies now suddenly find ourselves with the job apparently accomplished, waiting for some one else to find an outlet for excess mineral production before we can further. The management of the industry is in much the same boat. The psjrcho16gy of the industry has been so grooved in the direction of acquisition of, minerals that at the present moment the mineral industry confronts the new problem of surplus in more or less of a daze.

Jan 1, 1931

By AIME AIME

NEW YORKERS look forward to the third week of February as the time of the year when they can count on seeing their friends-from far and near gathered in the city for the four-day annual session of the Institute.., Indeed, the metropolitan district is so large that in engineer who lives in New, Jersey and has his office on the lower end of Manhattan island may easily pass a whole year without seeing an acquaintance who lives in Westchester and has an office near Forty-second Street. If the Institute served no other function than to provide a place where friendship may be renewed, ideas exchanged, and new acquaintances made it would still be worth while. But when about 30 technical sessions at which about 160 papers are read and discussed are compressed into four days the annual meeting is also entitled to high rank as an intensive course of post-graduate instruction in the newest development in mining and metallurgical technology. Last, but not least, it is the occasion of a good time for one and all, even if they do get more than a little behind on sleep before the end of the fourth day. Nine o'clock is the time set on Monday morning for the beginning of registration, but a half-hour before that a number have always 'put in an appearance, and this is fortunate, because by 10 o'clock four sessions had begun, those on mining methods, geophysics, a round table on the valuation of coal, and the session of the Local Section delegates. Three committees of the A. S. T. M. were also in simultaneous session, so the meeting may be fairly said to have started "in high."

Jan 1, 1931