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By F. F. Sharpless

ARRIVING at Davis Junction, after leaving Portland, we expected to wait for an hour and a half, but found the superintendent of motive power of the Southern Pacific, Mr. Williams, waiting for us with a car, and were immediately taken aboard this and whisked off to Sacramento. After dinner, we were taken to the railroad shops to see their work in reclaiming scrap steel. We saw them draw off the slag from the electric furnace, and later make a casting. At about 11 o'clock, we took the train for Reno. A delegation of the Nevada Section, with Mr. Kirchen and Mr. Rives at its head, met us at the station. Immediately after breakfast, we started for the property of the Comstock Mines Co., where General Bulkeley Wells was to be our host. We had a de-lightful ride out to the mines and through the old city of Virginia, or through what was left of that old city, reaching General Wells' camp at about 10:30. This contains the newest thing in cyanidation and a remarkably fine iron and concrete mill building. After a trip underground, we were called to luncheon, where about 250 sat down. The afternoon was spent in the mill, and we were taken to Gold Hill, which is a part of Virginia City, for dinner, again as the guests of General Wells, who made a consummate toastmaster. Governor Emmet Boyle was the first speaker; he was followed by President Dwight, and then came President William Sproule of the Southern Pacific. A song, "The Engineer," was followed by Senator Key Pittman, Professor Jones of the State University, Mayor Stuart of Reno, and ex-Senator Charles Hend-erson. The president of the Western Pacific and the president of the Pacific Coast Line were there, also many notable operators of Nevada and California.

Jan 11, 1922

By J. A. Singmaster

A REPORT that it did not pay to use present-day galvanized iron on account of the short life of the material, accompanied by proofs of the state-ment in the form of a tabulated history of the first costs of various kinds of building materials and their main-tenance expense, started an investigation of modern galvanized products. At the very outset it was apparent that our experience with galvanized products was by no means unique. Correspondence with the State Agricultural Depart-ments, the Agricultural Experiment Stations, the County Agents and State Granges all over the United States brought a mass of complaint on this same score. Visits to large buyers of galvanized sheet and wire revealed the same condition coupled with an ever-increasing use of substitutes for galvanized iron. We believe, therefore, that the title of this article is fully warranted by the experience of the consuming public. A study of the proceedings of the various societies having to do with the testing and use of sheet iron and steel products revealed a tremendous amount of work on the life of the base metal itself. Great stress was laid on differences in life of various types of iron and steel, the difference amounting at best to months rather than years. Very little recent attention has been paid to a study of the life of the zinc coating and the causes of its present-day lack of durability. There have been some real exposure studies published, how-ever, which show that the weight of the zinc coating determines the protection afforded by the galvanizing, which is of far greater influence on the life than the base-metal composition. An interesting paper was published by the Phillipine Journal of Science in 1916, entitled: "Galvanized Roofing in the Phillipines," a contribution from the Bureau of Science of the Phillipine Island Government. The author, Mr. Arguelles, found on 18 old galvanized sheets, after from 30 to 35 years' exposure, from 2.3 to 4.1 oz. of zinc per sq. ft. of sheet and sums up the study by saying: Of the various factors influencing the durability of galvanized iron which have been studied with a view towards accounting for the difference in behavior of old and modern sheet, it appears evident that the greater weight of zinc per unit of area on the former accounts for the greater durability.

Jan 10, 1922

By George Laird

IF IT IS true that Sir Walter Raleigh lost his head for his failure to find gold in the Guianas, the trumped up charge of "treason" might better have been "con-tributory negligence." That systematic investigation and development of the gold-bearing areas of both Dutch and French Guiana have not been accomplished is not due so much to the lack of gold as to the geo-graphical, physical and climatic conditions of the two colonies. The Dutch, as a people, are not prospectors. The French look upon "Cayenne," or French Guiana, as DJOEKA BOATS USED IN RIVER TRANSPORTATION. just what it is: a penal colony, which produces a certain amount of balata, gold and essential oils, all of which can be purchased from the natives with far less physical exertion than they can be secured from the "bush" or jungle. The colonies have had their gold "booms," and dur-ing these periods the production has increased to a considerable amount, but the hardships to be endured in reaching the fields, the cost of transporting tools and supplies, the ever-present fevers, the bite of the "57 varieties" of insects and, lastly but not leastly, the abundance of rum in the seaport towns, dampen the ardor of even the strongest; the production of gold is left to the "pork knocker" or illegal gold digger and to the comparatively few producing "mines."

Jan 10, 1922

AUGUST began with a reminder that warfare was still in progress in the world, in that the Greeks, still at war with Turkey, threatened Constantinople in spite of the small British and French forces of occupation and opened a vista of international dangers. There was in this, moreover, a recollection that religious questions in India had prevented the British from permitting a real settlement of the Turkish question, wherein the absence of Russia as a great power is missed. Civil warfare also continued in Ireland and China. Even in the military way the world is far from being at peace. Bloody fighting between the Fascisti (anti-communists) and the com-munists in Italy led to several provinces being put under martial law, but after a while these disturbances were quelled. In the latter part of the month the assassination of Michael Collins in Ireland produced a great shock. From China, however, there came rather favorable news, indicating the early reintegration of that country, which sooner or later ought to play an important part in world affairs. Economically, instead of there being any improve-ment, there grew a clearer perception of how bad things really are. Italian politics were in chaos through inability to find anyone to accept the premiership and assume the all but hopeless task of averting national bankruptcy. The French, too, began to see their own position in true colors, and especially to see how in reconstruction they had incurred debts on the strength of what they hoped to collect from Germany, with at last the understanding that the Germans could not pay and that France herself was thereby put in a desper-ate economic position. As for the Germans, them-selves their Reichsbank defaulted on ordinary bills early in August. As the month wore on the value of marks fell more and more and at the end it appeared that Germany was on the verge of economic collapse. On Aug. 7, another international conference (with America again absent) was assembled in London, this being the thirteenth since the war, and there was a general feeling that it would be the last. The prime question was what is to be done about the German reparations, but underlying was the whole subject of the entente. The conference opened like a meeting of importunate creditors, doubtful whether the debtor had any tangible assets. On Aug. 14 this conference broke up without coming to any useful conclusion. Indeed, the acrimony among the premiers was so sharp that even the entente between Great Britain and France was endangered. The international situation was saved only by the Reparations Commission excusing the Germans from the payment of 50,000,000 gold marks that come due on Aug. 15 But although the entente was nominally preserved there is no longer any illusion about the interests of Great Britain and France being different and that henceforth they will play their own hands. The London conference was really an effort to maintain the partnership, and it failed.

Jan 9, 1922

OF what use is the federation to me and why should I support it?" is a question that has been asked by many members of the constituent societies of the F. A. E. S. during the last year; a question that is asked because the speakers do not realize what the Federated is doing or what is the field of its activities. "What is it doing for the profession and for mankind?" would be a more appropriate question, the answer to which is found in the closing chapter of Prof. Cassius J. Keyser's "Mathematical Philosophy."' The chapter is entitled "Science and Engineering." Professor Keyser writes from the layman's point of view. He is looking at the profession and at engineers from the outside. We have in his thoughts the oppor-tunity that Burns sought when he wrote "Oh wad some power the giftie gie us to see oursels as ithers see us." With the permission of the author and the publisher, we quote the following paragraphs: A layman, viewing a profession from the outside, seeking thus to ascertain its proper relations to the common weal, may bring to the task a certain freedom, which, were he a member of the profession, he might have lost. "Men trained in a profession," said Prof. David Swing, "come by degrees into the profession's channel, and flow only in one direction, and always between the same banks. The master of a learned profession at last becomes its slave. He who follows faithfully any calling wears at last a soul of that call-ing's shape. You remember the death scene of the poor old schoolmaster. He had assembled the boys and girls in the winter mornings and had dismissed them winter evenings after sundown, and had done this for fifty long years. One winter morning he did not appear. Death had struck his old and feeble pulse; but, dying, his mind followed its beautiful but narrow river-bed, and his last words were: It is growing dark-the school is dismissed-let the .girls pass out first."' I shall not be so much concerned with the present status of the science as with its potency and promise. Of individual engineers the ideals may be high or low, worthy or unworthy; but of engineering itself the ideal is great and mighty. It is of that ideal that I intend to speak.

Jan 9, 1922

By John Boardman

THE latest metal-mine accident report available for the United States is that of the Bureau of Mines for the calendar year 1919. Quoting from Table 20, p. 53, of that report, we find that there were 468 men killed, 7 permanently totally disabled, 321 permanently partially disabled, 7848 injured seriously (more than 14 days disability), and 23,330 of 1 to 14 days disability. We have no records to show what the average days lost per case of accident is, but the records for the Anaconda Copper Mining Co. show that, leaving out the fatalities and total permanent disabilities, and counting those in which the lost time was one or more days, the actual days lost due to accidents, for the Butte mines and shops for five years, 1917-1921, were as follows: Accident Statistics, Butte Mines and Shops of A. C. M. Co. Rate Shifts Days Lost Year Accidents Total Shifts 10,000 Shifts Days Lost Per Acci-dent 1917 2,661 3,169,720 8.395 26,734 10.05 1918 2,765 3,545,149 7.799 39,199 14.17 1919 1,381 1,853,143 7.452 22,797 16.50 1920 1,376 1,879,410 7.321 20,164 14.65 1921 376 776,461 4.842 8,287 22.03 Total... 8,559 11,223,883 7.625 117,981 13.80 In order to place an economic value. on this loss, we will assume that all the 468 fatalities and the 7 total permanently disabled in the United States were com-pensated for at the rate which applies in the State of Montana, that is, $5000 each, and that the 8169 serious accidents in the United States were compensated for at an average of $70 per case, thus bringing the estimated compensation paid by metal-mining companies in the United States to the enormous total of $2,946,830 for the year 1919. The figure of $70 per case was obtained by dividing the total amount paid by metal-mining companies under Plan No. 1 of the Montana Compensation Law, for the first five years of its operation, by the total number of serious accidents for those years.

Jan 9, 1922

By Daniel Bloomfield

ONE of the major problems of management is how to restore in some measure the personal relation-ship between employer and employed which, in the days of small concerns, meant better morale among employees. The complexity of industry today, the heterogeneous mass. of workers employed, many .of them new to this country and to its institutions, the inability of those whose task it is to get out production to spend much time on the problems of labor-all these and many other factors serve to make of great impor-tance the question of how to establish more satisfactory mutual good will. While there is no such thing as a sure cure for labor troubles, in spite of the fact that charlatans have been selling alleged cures to guileless employers, study and experience have brought to light methods of approach to the problems confronting management in its relation to labor that are well worth consideration. Labor problems must be approached with common sense and an open mind. Facts must be the basis of action. So it is with the question of morale in industry. What makes or breaks morale? What are the forces behind the actions of men? What is there in one man that makes him act differently from another man under similar circumstances? How are men affected by the actions of others in their own group or by the actions of those under whose supervision they work? These are questions that must be carefully studied if we are, to get at the bottom of industrial unrest. It is an easy thing to say that good will can be created by "treating men right." That involves so many things and points of view that it will hardly serve as a full answer to our problem; but it is a good starting point if we mean by right treatment the payment of wages consistent with the well being of the worker and his family as members of the community, and if we also mean the provision of sanitary, wholesome working conditions and a working schedule that does not overtax the worker physically, and mutuality-a give and take relationship. With this as a basis we can go a step farther and see what else can be done to promote better relations between management and the workers.

Jan 9, 1922

By Leonard Austin

WHAT Colonel Dwight says regarding the treat-ment of oxidized ores1 holds true also of the silver-lead smelting operations in Utah. The ore sought for was such as would, with appropriate fluxes, yield slag, and "lead bullion," as the lead reduced from the ore and carrying its gold and silver, was called. No matte, and probably little or no speiss, was yielded, and hence there was nothing to roast, either of ore or matte. But, by 1880, when I first took hold in smelting, there was quite a production of matte at the works of the Ger-mania Smelting and Refining Co., Utah, because, by that time, ores containing some pyrite and galena were being smelted. This was due, as at the Grant Works, Denver, to the more attractive price paid for the treatment of such ores. The matte, containing about 5 per cent. copper, was accordingly heap-roasted and returned to the blast furnace for the recovery of its contained metals. By this time there had been built a long-bedded, hand-rabbled reverber-atory roaster with a hearth of about 40 by 10 ft. in size, and in this matte and ore, crushed at the sampling mill, was treated. When, in 1892, I took control of this works, called& now the Germania Lead Works, three other roasters had been added, but the prac-tice of heap-roasting continued. This had the merit of needing no equipment, and of doing good work, because the pieces that were imperfectly roasted went back upon the next roast heap. At this time, when some suitable lump ore was obtainable, I roasted in heaps, in a satisfactory way. By 1892, the Bruckner cylinder roaster had been installed, which, compared with the reverberatory roaster, reduced labor. As such a cylinder revolves, a talus of ore is formed within it and at the same time fresh surfaces are exposed to the air, but the trouble was that the air did not reach to the bottom of the cylinder. This we corrected by placing a steam jet at the fire-box end, to project the air down-ward upon this stagnant ore, thus increasing the speed and completeness of roasting without at the same time increasing dust formation. The firing, if skilfully done, gave a somewhat sintered product, but with certain ores a slight access of heat over the normal would cause accretions to form within the cylinder near the fire end. These could be cut off by running back the fire box and barring off the crusts. It was in 1895 that the Bruckner cylinders at the Arkansas Valley plant, Leadville, were giving unsatis-factory service and I was called in to investigate. The steam jet was put in use as at the Germania Lead Works, but we found that, due to the altitude (10,500 ft.), combustion was feebler than at sea level or even at 4000 to 5000 ft. Later it appears, as Colonel Dwight states, that R. D. Rhodes and Mots sought to increase the air supply by admission through perforated tiles, but the trouble was due to the air itself.

Jan 8, 1922

JULY was a month of great turmoil, both economic and political, in many parts of the world. Instead of conditions improving, they seem to have been getting worse. In Ireland, civil war is still in progress. Germany was in the throes of a political upheaval. The meaning of the assassination of Rathenau became clear. It evinced the development of a class struggle between the bourgeois and socialistic parties which may rock the country to its foundation and will increase the difficulties of arranging things with the French and solving the reparations problem. In Poland, a similar contest is developing. Austria is already so completely contaminated by the socialist element that it is unable to get outside assistance and is thus falling into a state of despair but little short of what prevails in Russia. The conference at the Hague came to an abortive end for the reason that it was impossible to discuss affairs with the Russians in any reasonable way. The Germans declared their inability to meet the reparation payment that fell clue on July 15 and the Commissioners for the Allies granted them an abate-ment of a portion thereof and are listening attentively to the supplication of the Germans for a moratorium of one or two years. In the United States, July was a month of widespread labor troubles, accompanied by a great deal of disorder and violence, which led to detachments of the National Guard being called out in several states. The railway shopmen, about 400,000 in number, struck on July 1. The road maintenance men decided not to strike, but many thousands of them quit work without the sanc-tion of their union. There were more strikes in the textile industry in New England and in similar industries all over the country. Early in July, it was estimated that about 1,250,000 men were out on strike. The coal strike continued. Early in the month the President summoned operators and miners to Washing-ton and submitted a plan for the compromising of disputes. After a week's consideration the miners re-fused flatly to agree to anything. The majority of the operators consented to accept the proposed arbitration, but a minority refused. Following this abortive at-tempt the President dismissed the conference with the injunction "to return to your mine properties and resume operation." Production has not increased.

Jan 8, 1922

By C. F. Jackson

THE work of, the Mining Methods Committee is now well under way. Following discussions previous to and during the February meeting, an Outline for Papers on Mining Methods was prepared, and over a thousand copies have now been distributed to committee men, to section secretaries and to members who have indicated any interest in the subject. The objective of the committee is to prepare a symposium on mining methods which will be of real practical value to the operator and engineer in the solution of every-day mining problems. It is planned to cover the entire field of mining in such a way that the different branches of mining, such as coal and ore (iron, copper, lead, zinc and precious metal) can benefit from the experience of the others at points where they have problems in common.. It is realized fully that each of these branches of mining possesses its own peculiar problems, but at the same time, there are prob-lems in connection with each, where the experience in others should be of value. The committee proposes to proceed along the following lines: 1. To present a general classification of mining methods, showing their inter-relationship, and at the same time .provide a common language for the discussion of mining methods and a nomenclature that will have the same meaning wherever used. A com-plete set of illustrations will accompany the classi-fication to make clear the terminology adopted and to show graphically the inter-relationship of methods. 2. To show the relationship between the physical characteristic of the deposit, the economic consider-ations and the. mining method., It is not proposed to treat this subject as a mere academic problem, but to secure reports from every mining company of impor-tance in this country, which will show what methods or modifications and combinations of methods have actually been applied and the physical conditions and economic considerations which have led to the adoption of these methods in each case. The Mining Methods Committee has drawn up an Outline for Papers on Mining Methods to be distributed among mining engineers and operators, giving in detail the information desired. This outline is the result of several months of careful thought and is a composite of the suggestions of many engineers and mining company officials from all parts of the United States.

Jan 7, 1922

By F. R. Ingalsbe

THE proposed revision of the mining law as set forth in the Arentz Bill, now before Congress, is centered about the pretty commonly acknowledged f act that the present law is outlawed both by the large mining companies and the United States Land Office. By common agreement, the law of the apex is non-opera¬tive as between adjacent properties in many instances, and this practice is becoming more common. - If this is a fact, there is no escape from the conclusion that the law is antiquated and should be revised to meet modern conditions more equitable. The thing to be considered seriously is in what direction and to what extent the laws should be changed. Before deciding this, it is logical to inquire in what particulars the present law is troublesome or useless. This was all threshed out by the committee of the Bureau of Mines that worked out the proposed bill, but their testimony was not placed before the public, so far as 1 am aware. Most mine managers and engineers connected with producing properties are a unit in agreeing that the law as applied to the underground extension of orebodies, that is, the "law of the apex," as it is called, is the source of more litigation and expense than any other phase of the law, or perhaps than all other phases combined. This being true, it seems that this part of the law should be changed. Another phase which is troublesome and will continue to be so long as there is unpatented mineral land on the Public Domain, is the discovery requirement. The present law requires that a dis¬covery be made before a claim is staked and the courts certainly agree that such must be the case before patent issues.

Jan 7, 1922

By Allen Rogers

IT IS universal practice for corporations, at the end of the fiscal period, to call in a firm of chartered accountants to audit the books. The effect of this is to put an independent organization's seal of approval on the accounting of the business done by the management. Their report lets the stockholders know that the accounts rendered truly present the results of the year's business. This is as it should be; the average stockholder has no personal contact or even acquaintance with the managers of his enterprise and the approval of their stewardship by an indepen-dent agent is very desirable for maintaining confidence in their honesty and ability. But such an examination deals only with what may be called the arithmetic of the business; even the most elaborate audit, as the practice is at present, goes no further than to verify the items of the inventory. In other words, while checking up the entries showing the transaction's of the year and certifying to the correct-ness of the items of the balance sheet, such a report gives the stockholder no idea of the ability with which his affairs have been managed. If the profit and loss balance is satisfactory, as certified by the public accountants, he assumes that the management has been able; where it is not, he turns to the president's report and usually finds an explanation. Such an explanation never takes the form of admission of mis-takes in business judgment or of bad technical manage-ment. It could hardly be expected that it would. The stockholder is generally furnished, therefore, with a certificate of the honesty of his management, but never one of its ability. He does not worry about the latter as long as dividends come in; when they cease, his action generally finds expression in replacing the management. In other words, so long as profits are realized, he assumes the management to be good, even though its success is a matter beyond its control and better management would make larger profits. When there is no profit, the stockholders have no means of knowing whether it is due to conditions beyond the control of the management, as the annual report is sure to allege, or whether, by better management, profit is possible. Here is where the technical audit comes in.

Jan 6, 1922

DURING the month of March there was some lifting of the veil, revealing somewhat of the maelstrom in the economics and politics of the world. Great Britain was in throes of political controversy, with threats of resignation by Lloyd George and a general election to ensue. Ireland was uneasy with internecine squabbles. The leaders of the opposing sides have been summoned to London for a conference which Parlia-ment believes offers the only hope of a solution of the present difficulties. France, awakening more and more to grim realities, learned of a budget for 1922 calling for more than 50 billion francs, or nearly one-third of the estimated national production, with the prospect that after this deduction is made there will be nothing left over what is required for the immediate support of the, people, and that on a reduced scale. Germany, although hard at work, found itself coming closer and closer to financial collapse and repeated its intimations that it would be unable to keep up with the provisional payments of 31 million gold marks to the Reparations Commission every 10 days as arranged at Cannes. Russia suffered more acutely from the famine and there were evidences of political insubordination among the Ukrainians. Egypt was in trouble arising from determination to win independence. About the middle of March the complete independence of Egypt was established and that country passed into somewhat the same relation-ship toward Great Britain that Panama has to the United States. At the head of the Adriatic, Fiume came into notice again with disorders threatening to produce conflict between Italy and Jugoslavia. In the Near East there were forebodings of trouble through resumption this spring. of the war between Greece and Turkey.

Jan 4, 1922

By Arthur Dwight

WE NOT have to go so very far back, when measured in actual years, to what may be considered the beginning of the industrial era of the great West, the discovery of gold in California in 1848, just 74 years ago. By a strange coincidence, this event occurred within a few days of the signing of the treaty with Mexico which ceded California to the United States. Needless to describe the mighty wave of humanity that hurled itself toward the setting sun in response to that call. The single thought in every one's mind was gold. The gold as they found it in placers or ledges could be so easily worked, and the product was so readily transportable, and available immediately as money, that practically no attention was paid to deposits of the base metals, in the treatment of which cheap transportation was a paramount con-sideration; consequently little progress was made in anything but gold mining until after the Civil War. The next great step was accomplished when East and West were united by the successful construction of the Union Pacific Railroad from Omaha across the great plains and through the Rockies to meet the rails of the Central Pacific coming eastward across the Sierras. The industrial history of our great West really dates from the day when those two hands of steel were joined, on the shores of the Great Salt Lake at Prom-ontory Point,. May 10, 1869. That seems a long time ago when we think of the enormous changes that have been wrought since that day, and when we regard the rich empire that has sprung up in that western land. Into the new empire thus made accessible, by this first thread of steam transportation, flocked a new brood of adventurous spirits from the older communities of the East. This way walked Fate; and as she, went, flung far the line of destiny, That bound an untracked continent to brotherhood from sea to sea; That long gray trail of dream and hope, marked mile by mile with graves that keep On every barren hill and slope some stout heart lost in dreamless sleep. Patience and faith and fortitude were willed to it and justified; Stern, homely virtues, plain and rude, eternal as the sky and wide. Nor ever sea-king dared the sea in sterner mood than these who went Strong armed to wrest from Mystery their birthright, half a continent.

Jan 4, 1922

By J. R. Finlay

THE other day, I fell into conversation with two gentlemen who desired to improve the condition of the people; so that the talk was semi-political. They seemed to agree that I was inclined to be "con-servative," "reactionary," perhaps an "evolutionist," looking upon "reform" with suspicion. Finally I rejoined somewhat in this manner: "You attach to me phrases that I have heard all my life but which convey no meaning to me. It is quite true that I do not make a fetish of terms like reform, liberty, democracy and so forth; neither do I worship the idea that `things are good enough as they are,' `leave well enough. alone' and so forth. There is more satisfaction in building something up than in tearing something down, or in just maintaining something that is already built. Progress is a popular word; but what is progress? In my opinion it is comprised, so far as public welfare is concerned, of two elements: Improvements in production of goods and knowledge; improvements in keeping order." This substitute for politics, economics, reform, pro-gress, conservatism, radicalism, democracy, socialism, monarchism and all the phrases of public welfare may seem over-simple; perhaps it is, but at least it defines something. It seems to me to be at least worth attention.

Jan 4, 1922

By John Goodell

CIVIL engineers seem to number in their ranks more advocates of licensing than are found among the practitioners of other branches of the pro-fession. Licensing was not originated by civil engineers but it was forced upon them in two ways. In the first place, the civil engineering profession has hangers-on like every other profession. The first legislative result of their imperfect accomplishments with which I am familiar occurred in the far West. It was found that early irrigation works were so badly planned in some cases that not only were water rights made very uncertain but considerable sums were invested in structures and ditches which proved inadequate and occasionally complete failures. Water was too valuable to be wasted in that way and money too hard to obtain. In those sections, therefore, laws were passed many years ago which made it obligatory for the design of irrigation works and other structures utilizing water to be made by engineers who had satisfied a board of examiners that they possessed the technical qualifications to plan such works properly. The basic thought on which such laws rest is the same as that on which laws governing the licensing of boiler operators rest, namely, the safety and welfare of the public. While boiler explosions still occur and irrigation works are built which are not wholly satis-factory, these laws have helped the, public, it is gener-ally agreed.

Jan 4, 1922

By Joseph Pogue

IN 1920, 531 million barrels of crude petroleum were consumed in the United States. As imposing as this figure is, the fact that the domestic consumption of crude petroleum has increased at an average rate of 10 per cent. a year for the past decade is more striking. Will this rate of increase in demand continue? If so, the year 1930 will call for 1260 million barrels of petroleum-a staggering volume. On the other hand, may we expect the demand for petroleum to grow as rapidly as it did when the automotive industry was having its most phenomenal expansion? If not, to what extent will the growth of oil requirements decrease? When and to what degree will the petroleum industry become affected by the economic law of diminishing returns? Obviously, this matter requires careful analysis, especially as both national and industrial planning must be predicated upon present estimates of the requirements of the future. The purpose of this paper, accordingly, is to project, as closely as present limitations of knowledge permit, the course of the demand for petroleum in the United States over the next ten years. At first, the problem of estimating the future of a demand as complex as that for petroleum might appear insoluble. Fortunately, however, there are several scientific methods of approaching the problem, centering around a study of rates of industrial growth, which lend considerable hope that the requirements of the immediate future in this field may be approximated with sufficient closeness to have practical value as a basis of action.

Jan 3, 1922

THE great subject of interest in American affairs during February was the consideration of the proposed soldier bonus. This proposal was based upon the idea that, because most of the workers of the United States had enjoyed high wages during war, the soldiers were entitled to "adjusted compensa-tion" in order to equalize things. It overlooked the fact that the soldiers, themselves, had the opportunity to enjoy high wages in 1919 and 1920, when rates were highest. Apart from this, the whole project was founded on fallacies and involved what would be nothing less than economic crime. Although it looked as if the measure were destined to be railroaded through Congress, so great a storm of protest was pelted upon Congress that the present outlook is that the whole project will be abandoned. There was probably some increase in the physical volume of business during February. A rise in prices for agricultural products assisted the farmers mate-rially. These developments, however, are not to be construed as presaging any general upward movement. On the contrary, the current year is to be contem-plated as one of serious labor troubles, following inevit-able reductions of wages. These began in February in the form of an extensive strike in the cotton textile industry of New England, accompanied by some rioting in Rhode Island. The coal miners have had numerous conferences, without coming to any encouraging results, and the stage appears to be fully set for a general strike beginning Apr. 1. About the only question now is whether this will comprise both the bituminous and anthracite miners. If the latter refuse to go out, no serious shortage of coal is anticipated, the belief being that the existing stocks together with the output of the non-union mines will supply the demand, which is sub-normal even now. In the metal industries, lead and zinc were dull but stable. The weakening tendency in iron and steel that was manifest during January appeared to be checked, at least temporarily. Copper was charac-terized by a distinct weakness and a considerable decline in the market. This downward movement was inspired by the news during January that several of the important mining companies were taking steps to resume production. During February the demand for copper, both foreign and domestic, was poor.

Jan 3, 1922

By Edwin Ludlow

IN CONSIDERING the waste in the coal industry, which is the title of this discussion, we must entirely eliminate the anthracite region. The demand for anthracite has been constantly increasing and the mines have been able to run during this last year, while the bituminous field was idle for two-thirds of the time. It is on a 100 per cent. basis, which is the best answer to any waste in industry investigations. The anthracite region is also in a very much better position on account of its control by very large companies which realize that their resources are limited; they must husband these resources in every way and they are making the most careful study of methods of mining and preparation to avoid any possibility of waste. This is well known and realized by the managers of those companies. Even the fine slush which was formerly thrown away is now being stored in the hope that methods will be found by which it can be used economically, either in briquet or pulverized fuel in coking. This has been tried. The anthracite factor may be dismissed from the waste in industry discussion, except as it applies to the general public that burns anthracite; there is a tremen-dous waste of anthracite in the burning of it. Looking at the ash piles where anthracite is burned and seeing the amount of carbon that comes away with the ashes, one realizes that proper efficiency is not obtained in the burning of that coal. Even its higher cost does not seem to bring people to a realization of the necessity of conserving and burning properly the entire coal carbon content of what has cost so large a price. Many people feel that they want to have the coal as large as they can shovel into the furnace; they do not realize that the small coal makes just as many heat units and can be bought at half the price. Consequently, the demand is continually in excess of the probable pro-duction for the larger sizes of anthracite, while the smaller sizes, such as large buckwheat and pea, are a drug on the market and can be bought at nearly half the figure; and yet, if properly burned, these produce just as much heat and can be used with a much greater economy than the large egg and stove.

Jan 3, 1922

By W. R. Ingalls

THE main objective of everybody, individually and collectively as the people of nations, is to earn their living and improve the scale thereof as much and as rapidly as possible. We are able to earn" our living only by working and producing. We I are able to rise to higher standards of comfort only by increasing our production of goods, or diminishing the waste of those that we do produce, or both. This statement is trite. It is equally trite to dwell upon the importance of increased production to be derived from increased efficiency of labor and improved manage-ment; and the good results that would accrue to every-body if employers and employees would work together to secure the maximum of production at the minimum of cost. All of this is nothing more than platitude, to which every intelligent person subscribes in the abstract; but what concerns us especially, and what is neither so easy nor so understandable, is to translate the expres-sion of the abstract principle into formulas for action. The national net income obviously may be increased in two ways, or by both together. One is to diminish the waste of the goods that we already have made available. The other is to increase the supply of goods. .Increasing the supply of goods may involve the elimina-tion of waste, but a distinction is to be drawn between the waste of things that we have and the failure to obtain those that we might have. If we limit the term "waste" to the careless and profligate use of the materials that have come into our possession, together with the absorption of labor in doing obviously unnecessary things; and if we character-ize by the term "inefficiency" the failure to accomplish in our industrial operations the best of which we are capable, we shall create a distinction that will be pro-motive of clear thinking. In this paper I am going to deal with inefficiency, not waste, observing the distinc-tion, arbitrary if you please, that I have made. Without any doubt the greatest inefficiency that exists in our economic affairs is that which causes hundreds of thousands, perhaps millions, of men to be idle a good deal of the time. The major reasons for such idleness are two-fold. One of them is the conse-quence of what for convenience may be called business cycles, although I do not hold to the hypothesis of business cycles as it is now being rather widely expounded. That hypothesis involves the idea of rhyth-mic undulations due to causes unknown, but which it is hoped may be ascertained. The movement of busi-ness in waves up and down is undeniable, but that there are recurrences of cycles every so often is purely imag-inary, I think. It is unnecessary-to digress into that subject. The extents of the rises and falls above and below a median line undoubtedly is less than is commonly supposed.

Jan 3, 1922