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By E. E. AGGER, Arthur Notman

THE proposal has been made in a bill introduced into Congress at the last session by Representative Jones of Michigan that an import duty of 6 c. per lb. shall be placed on copper. This action is urged after eighty years of prosperity for the industry in this country; during most of which copper has been on the free list, and during all of which a tariff would have been without real effect. To comprehend the general situation upon which this action would be imposed, we must refer to the past history of the industry and its trends at the present time. The following table supplies us with a picture of the physical growth of the industry in this country and its relation to that of the world as a whole down to Jan. 1, 1921:

Jan 1, 1925

By Chester O. Ensign

Many publications to date have advocated under- seas mining operations, optimistically overlooking the paucity of information on mineral distribution and the ocean environments in which minerals occur. Such articles (smattered with opinion, as is this article) are herein tempered by my more conservative views on the economics of mining under the seas. For purposes of this paper, underseas mining refers only to the deeper surficial deposits of the continental shelf and the deep sea floor, i.e., the deposits of phosphorite and manganese nodules.

Jan 9, 1966

By D. A. Dahlstrom

Although the liquid-solid cyclone is a relatively recent innovation in the field of coal preparation, various authors have already indicated three distinct applications to operations encountered in the modern tipple. Driessen's articles and work at the Dutch State Mines exhibited its possibilities in the beneficiation of fine coal with apparently high efficiencies down to the 200-mesh fraction. 1 2 3 4 Other publications point out its use as a recoverer, thickener, and preliminary dewatering agent of fine coal which in too many cases is being wasted due largely to former high operating cost limitations 5 6. Finally, certain authors have emphasized the practicability of applying the cyclone to the elimination of coarse and fine solids from water slurries in the tipple in order to produce a water suitable for recycle purposes containing only minute particles far below the 200-mesh size.6 This would result in a closed water system for many cases, with its accompanying economic and operating advantages to locations where water quantity and quality problems are severe; better operation of washing equipment using a consistent water devoid of injurious fine particles; lowered maintenance costs due to the lesser abrasion resulting when the fine abraiding particles are removed; and the greater ease of disposing of refuse streams of reduced volume containing greater percentages of solids.

Jan 1, 1949

By LESTER W. STRAUSS

FOR fifteen months after the other dominions of the British Empire and the entire so-called sterling 11loc loosed the shackles that bound the111 to the gold standard, South Africa, giant among gold-producing nations, remained stubbornly attached to gold at the traditional ratio of 85 shillings in currency to one ounce of gold. But eventually even South Africa had to heed the dictates of trade and the obvious interests of its great gold-mining industry. In December, 1932, South Africa's currency severed its golden bonds. Today the South African pound is 011 a par wit11 the British pound.

Jan 1, 1935

By M. J. Swan, W. C. Foshee, R. R. Klimpel

The large volume of water used in coal preparation plants makes water recycling a necessity. Economical cleaning of dirty water usually requires flocculation with an efficient organic polyelectrolyte. This paper discusses identification of optimum flocculant systems. Supporting laboratory data with on-site tests and full-scale field trails supplies information necessary for matching the polymer to the plant.

Jan 1, 1983

By AIME AIME

WAR undoubtedly accelerates metallurgical progress, although its most obvious effect is a tremendous waste of materials. The necessity for restrictions in normal uses of metals results in a search for substitutes or for enhanced properties that will make a limited supply last longer. An insatiable demand for more metal to be produced more quickly favors trial of new processes, new metallurgical tools, and new methods of fabrication. Greatest advance is made, of course, in practical physical and process metallurgy. Theoretical or fundamental research necessarily must take a secondary position, and is so regarded in this review. It is not that developments in theoretical physical metallurgy are lacking entirely, but, following the same trend noted in other countries as they entered war activities, attention in the U.S.A. has been shifted strongly to those developments having an immediate practical application.

Jan 1, 1943

By F. J. Plecity, J. T. Michalak, W. C. Leslie

W. M. Williams (McGill University)-The authors are to be congratulated on completing this detailed investigation of recrystallization behavior. The present writer has recently completed some research at the University of Toronto on the recrystallization and grain growth behavior of a number of "pure" irons, and he would like to take issue with the authors' contention that recrystallization cannot be followed by means of hardness measurements. Two series of specimens of Ferrovac E, a com- mercially available iron, were annealed to complete recrystallization at 525" and 620" C, measurements being made both of Rockwell hardness and of volume percent recrystallized as a function of annealing time. Good correlation was found between these two quantities and, following the earlier practice of Cook and Richards for copper, hardness measurements were used in an extensive investigation of recrystallization. No anomalous behavior was observed as a result of this practice. Specimens which showed complete softening always showed, (metallographically and by X-rays), completely re-crystallized structures. These observations do not, of course, detract in the least from the results of the work under discus-

Jan 1, 1962

By J. R. Dunn

Planning quarry operations and control of the quality of rock materials at Hudson Cement Co. at East Kingston, N. Y., are special problems because of multiple uses for the stone and the great structural complexity of the rocks. Problems have been largely solved by detailed geologic work. These geologic studies have paid dividends in long and short range planning, in assessment of reserves, in vastly reduced cost of chemical analyses, and in reduced drilling costs. Limestones of the Hudson Valley outcrop along the Hudson River from Albany to Kingston. Old established cement companies are located just south of Catskill and just east and southeast of Hudson, N. Y. The new Atlantic Cement plant is being constructed at Ravena. Hudson Cement located at East Kingston, is a newcomer and is closest to the New York metropolitan area (Plate I).

Jan 11, 1961

By B. Paul

1. INTRODUCTION It is known that the elastic modulus of a metal may be considerably increased by dispersing

Jan 1, 1961

By W. I. Duvall

A brief review of the resonant frequency and ultrasonic pulse methods for obtaining elastic constants of rock samples shows that the equations for an iso-tropic elastic solid commonly used to calculate Young's modulus, modulus of rigidity and Poisson's ratio can result in appreciable error if the rock is even slightly anisotropic. Consideration of the equations that relate bar velocities and free medium velocities to elastic constants for orthotropic, transversely isotropic and isotropic solids shows that a combination of the two methods can be used to determine average elastic constants for a single sample of rock. The determination of elastic constants in different directions requires a large number of tests on oriented samples. The use of both the resonant frequency and ultrasonic pulse methods is recommended so that the determination of both Young's modulus and modulus of rigidity is independent of the determination of Poisson's ratio. The dynamic elastic constants of rock can be determined in the laboratory from measurements on small samples which may be in the form of right circular cylinders (diamond drill core). Either the resonant frequency6 or ultrasonic pulse method1 can be used to determine the longitudinal and shear velocities in the same specimen. The resonant frequency method provides a measure of the longitudinal bar velocity, V,, and the torsional bar velocity Vt; whereas the ultrasonic pulse method provides a measure of the free medium longitudinal velocity, Vp, and the free medium shear velocity, V, . The elastic constants (Young's modulus E, modulus of rigidity G, and Poisson's ratio v) are calculated from the density of the specimen, p, and one of the pairs of velocities by means of equations from isotropic elastic theory. For the resonant frequency method the equations are: It should be noted that Eq. 5 is derived from Eq. 4 and 6 and the relation between the elastic constants for an isotropic solid as given by the first part of Eq. 3. The in situ determination of dynamic elastic constants is accomplished by generating a complex seismic pulse in the rock and measuring the arrival times for the longitudinal and shear phases of the pulse at two distant points.5 From these travel times and the distance of the travel path both Vp and Vs are determined. The density of the rock is determined from samples in the laboratory, and Eq. 4 to 6 are used to calculate the elastic constants. These three methods involve the assumption of isotropy and perfect elasticity, and require the use of the relation v = (E/2G) - 1, which holds only if the elastic constants are the same in at least two directions. The calculation of v by means of Eq. 3 introduces considerable error, as a 1% error in V, and V, results in a 20% error in v. If frequencies for samples with a length-to-diameter ratio greater than four and a length greater than 8 in. are measured carefully, the experimental error can be kept to 1%. However, it is not unreasonable to expect that the variation in Vb and Vt with direction may exceed 1%. Thus, for even a small percentage of anisotropy the use of Eq. 3 can result in considerable error in v. The calculation of v by Eq. 5 also involves some uncertainty as a 1% error in Vs and Vp can result in a 6% error in v. By means of the pulse method both

Jan 1, 1965

By Paul E. Queneau, H. J. Roorda

Cobalt consumption will increase during the next decade at an average rate at least equal that of nickel. In the past, use of cobalt has at times been curtailed by lack of availability or by high price. In the future, output of cobalt derived from copper ores and iron sulfides will continue to grow and output of cobalt from nickel ores will be greatly increased. There should therefore be an adequate supply of this metal at a reasonable price. Nickeliferous limonites constitute by far the largest known terrestrial reserves of cobalt. A process has been conceived, based upon selective reduction and aqueous chlorination for treatment of such ores. The proposed procedure permits good extraction of the ore's cobalt content, comparable to that of the nickel, and is adaptable to large-scale, automated unit operations. Chlorine leaching of the ore enhances its value as a potential source of iron and chromium. Over four thousand years ago, cobalt pigments were employed for decorative purposes in some glass and glazes of Egypt and Persia, and by 1000 B.C. they were widely used in the Middle East.' " However, prior to 1914, virtually no cobalt was produced as metal and ceramics remained the largest consumer of the element as oxide. During World War I cobalt-containing high-speed steels came into their own and the metal's merit in magnet steels was established.

Jan 1, 1971

By D. W. Brunton

THE maps of our large mines are usually prepared with the greatest care; and it is somewhat singular that, in comparison with the great amount of time and money spent in surveying and platting, so little actual use is made of them. Almost the only purpose for which a completed survey-map is afterwards consulted, is the determination of the relative position of the different workings to each other, and to the boundary-lines of the property. After the completion of such a map, it should be made the beginning of another, and in most cases a far more important, undertaking, namely, its utilization as -a starting-point for a complete inventory of the company's underground possessions. The ordinary mine-survey map, being nothing but a record of what has been done, is, in one sense, only ancient history. To increase its value, such additions should be made as will render it a complete statement of the amount and value of ore in sight at any particular time, and a guide for future develop¬ments. Comparatively little extra labor is involved in this undertaking, since the larger and most expensive part of the work has already been completed when the mine has been surveyed and mapped. The necessary additions consist in working out, and platting on the maps, the geology of the mine as exposed in the workings, in such a manner that the geological survey may be of daily use in the development and operation of the mine. The first step towards the production of a geological map consists in tracing individual level-sheets from the general or composite map. The area to be included, outside of the property in question, will depend very much on local conditions; but, for geological, legal and commercial reasons, it should be extended as far as reasonably practicable. The scale to be

Sep 1, 1905

By Donald L. Katz, Leslie J. Noaker

Experimental data are presented for hydrate formation conditions for mixtures of hydrogen sulfide and methane. Vapor-solid equilibrium constants for hydrogen sulfide are also presented. Equilibrium constants, defined here as the ratio of the mole fraction of hydrogen sulfide in the vapor phase (dry basis) to the mole fraction of hydrogen sulfide in the solid phase (dry basis), were calculated using the vapor-solid equilibrium constants for methane presented in an earlier paper. The conditions at which a natural gas will form gas hydrates with water may be computed from its composition, when hydrogen sulfide is present in addition to carbon dioxide and the paraffin hydrocarbons. INTRODUCTION Many gases are known to form solid hydrates in the presence of liquid water at temperatures above 32°F. This hydrate formation is of importance to the natural gas industry inasmuch as most of the constituents found in natural gases will form hydrates. The attention of the industry was called to hydrates by Hammer-schmidtl0 in 1934. A number of papers have been written giving the temperatures and pressures at which these hydrates will form3,4,5,6,7,8,9,10,13,14,15,18,19 and a bibliography on the subject has been compiled13. Deaton and Frost4,5,6,7,8 report work for various pure gases and for some natural gases. Katz and co-workers3,4,13,14,18,19 have reported data for various gases at high pressure. They developed a method of predicting conditions for hydrate formation from equilibrium constants3,19 and from gab gravity." The effects of anti-freeze agents on the formation of hydrogen sulfide hydrate were reported by Bond and Nelson.' The hydrogen sulfide-water system, including hydrate, has been the subject of recent investigation by Sage and co-workers." Mixtures of hydrates behave as solid solutions and an equilibrium exists between the vapor phase and the solid phase that appears to be comparable to the equilibrium between vapor and liquid phases.3,10 By means of the vapor-solid equilibrium constants which have been published for methane, ethane, propane, iso-butane, and carbon dioxidel6 it is possible to determine the temperature and pressure at which hydrates will form for a specific gas mixture when water is present. Hydrogen sulfide which is frequently found in natural gases has a very strong tendency to form hydrate and must enter the solid solution when present in a natural gas forming a hydrate. To determine the effect of hydrogen sulfide when computing the conditions for gas hydrate formation, it is necessary to have the equilibrium constant giving the ratio of the concentration of hydrogen sulfide in the gas phase to the concentration in the solid phase. This paper presents data on hydrate formation for mixtures of hydrogen sulfide and methane and presents the equilibrium constants which were calculated from these data. EXPERIMENTAL PROCEDURE The apparatus used to determine the conditions of hydrate formation for the methane-hydrogen sulfide system was similar to that employed by previous investigators.3,18,19 A charge gas cylinder was used to supply the hydrogen sulfide-methane mixtures, called the charge gas, and to supply the pressure up to 1.000 psia. This

Jan 1, 1955

By Robert E. Sorenson

EXPLORATION for deep-seated orebodies in the Silver Belt area of the Coeur d'Alene mining district is complicated by meager surface expressions of diagnostic criteria, lack of knowledge of the significance of specific alteration phenomena, and the great expense involved in the exploration for ore shoots, the tops of which often occur near sea level elevation or below and as much as 4000 ft or more below the surface. Except for the early studies of Ransome and Calkins in 1903 and 1904,[1] little geological work was done in the Coeur d'Alene district for many years, and it is only during the last 15 to 20 years that complete and careful geological mapping has been applied to most of the mines in the area. Much early information, which now would prove invaluable, is lost in hundreds of miles of caved and inaccessible mine openings not mapped by mining geologists. In more recent years mining geology has become a tool of greater use in the district, and some measurable progress is being made in the accumulation of observations that are adding gradually to the knowledge of ore deposits in the district.

Jan 7, 1951

By E. F. Bailey, W. J. Harris

THE temperature of the ferrite to austenite re-action is established frequently by continuous heating experiments. However, equilibrium studies of this reaction have demonstrated that austenite may form at temperatures considerably below those at which the reaction is first observed during continuous heating. Because of this discrepancy, tempering is sometimes performed above the true critical temperature and in these cases austenite forms during tempering. The lowest temperature at which austenite forms and the kinetics of the reaction have been studied by Bain,' Bleakney and Gros-venor,2 and Dube and Cunningham. This austenite can affect the properties either as austenite per se, if it is retained at room temperature, or as a decomposition product if it transforms. The effect of austenite formation during tempering on low temperature impact properties of an 8 1/2 pct nickel steel was reported by Brophy and Miller4 in work published after the present investigation was initiated. They concluded that the improvement in low-temperature notch toughness which followed tempering at certain temperatures could be attributed to the austenite formed during tempering. Kramer et al.5 found anomalous hardness increases and embrittlement after tempering of a low-carbon manganese-nickel steel. They concluded that austenite formed during tempering, and that the decomposition products were responsible for the increase in hardness and the embrittlement. Quan-titative correlations of the microconstituents and mechanical properties were not made by these investigators. The present study was undertaken in order to establish the kinetics of formation of austenite at various temperatures, the characteristics of the decomposition of this austenite, and the relationship between mechanical properties and the phases present. Experimental Procedure A low-carbon manganese-nickel steel was selected because of the sluggishness of its austenite decom-position reactions. The composition of this steel in percent was: C, 0.10; Mn, 3.52; Ni, 2.34; Mo, 0.52; Cr, 0.17; Si, 0.19; V, 0.15; P, 0.019; and S, 0.020. Samples were prepared by forging sections from a large ingot to 3/4 in. bars. Formation and decomposition of austenite were investigated by dilatometric techniques which were checked by X-ray measurements. Dilatometer specimens were hollow cylinders 1 in. long, 1/2 in. diam, with a 1/8 in. central hole. All specimens were aus-tenitized for 1 hr at 1650°F and quenched in water prior to insertion in the dilatometer. Oxidation was prevented by using an inert atmosphere of purified nitrogen. Dilation was measured with a dial gauge which could be read by interpolation to 0.00005 in. Temperature was maintained within ± 3°F by a Brown Electronik Controller. Chromel-alumel thermocouple leads were welded to opposite ends of the specimen with the specimen serving as the hot junction. As a check on temperature uniformity comparison was made of the specimen temperature as measured with the chromel-alumel leads and the temperature of the center of the specimen as measured with a calibrated platinum—platinum-rhodium thermocouple embedded in asbestos in the central hole of the specimen. During heating a 5°F temperature difference was noted below 1000°F, but none above, while in cooling, a 5°F difference was observed from 1300" to 735°F, but none below. Heating rates of 35°F per min and cooling rates of 60°F per min were employed for all dilatometric studies. For transformation studies below room temperature, the dilatometer was allowed to cool to 150°F and then was quenched into liquid nitrogen.

Jan 1, 1951

By Donald E. Scheck, Da-Rong Chou

The application of geostatistics to coal reserve analysis is discussed. One problem in particular, the selection of the optimum locations for exploratory drill holes, is considered in detail. A new interactive program to help the geologist determine the best locations is described and applied to a specific property. The steps in the process are described and then illustrated using a mine's actual data. First, a variogram is selected based on graphical displayed information from the known sample data. Kriging estimates are made for the region of interest and the blocks within the region. The location of future exploratory drill holes is selected based on the criterion of minimizing the region estimation variance for a given number of exploratory holes. The least number of exploratory holes required to meet a specified upper limit on the regional variance is also determined. The computer generated recommendations for the exploratory drill holes are compared to a manually prepared drilling plan. The post- drilling analysis of the results is compared to the predicted values.

Jan 1, 1983

By W. C. Smith, P. J. Hickey

After a short historical background of the process evolution, this article descvibes present-day plant facilities and operating techniques utilized for high-purity bismuth production. The plant is one of the world's largest, with an annual output of some one million pounds of refined bismutlz. PREVIOUS papers1 written by staff members of Cerro de Pasco Corp. have referred briefly to the production of refined bismuth. Since the Corporation is one of the world's foremost producers of high-purity bismuth, a detailed description of the process for extracting the metal may be of general interest. Following a short historical background of the development of the actual process, this presentation will trace the progress of bismuth from its entry into the primary smelting circuits to its concentration in electrolytic lead cell slimes. Our facilities for the treatment of anode muds will be described and the extractive methods given in some detail, with particular emphasis on the techniques which result in the production of refined metal. HISTORICAL BACKGROUND Shortly after Cerro de Pasco began smelting operations at Oroya, Peru in 1922, it became apparent that the dust carried by copper converter gas contained appreciable amounts of bismuth. Although dust collection efficiency was poor prior to building of the 550-ft stack and installation of the central cottrells in 1938, a large stock of dust was accumulated during the intervening years, having the following approximate composition: Oz. per ton Ag - 11.0 Pct Sn — 0.5 Pct Pb - 49.0 Pct Zn - 6.5 Pct Bi - 2.0 Pct Insol. - 1.5 Pct Cu - 0.7 Pct Fe - 2.3 Pct Sb - 3.0 Pct S - 10.0 Pct As - 7.5 In the mid-1920's, experimental crucible melts of this dust with carbon indicated that most of the bismuth and silver, and some of the lead, could be reduced to a fairly clean bullion. Other products were a small amount of leady copper matte and a slag high in zinc, arsenic, antimony, and lead; this slag contained some tin but only small quantities of silver, bismuth, and copper. After the laboratory results had been confirmed by operation of a small reverberatory, a dust reduction furnace was constructed. The ±10 pct Bi-Pb bullion produced from this operation was stocked until 1930, when an Oroya-designed converter type furnace3 was installed for the elimination of arsenic, antimony, and some lead from the bullion. This process concentrated the bismuth from 10 to about 60 pct. By means of the bismuth process developed4 by W. C. Smith at East Chicago (1909-1914) and the discovery of a method5 for separation of lead from bismuth with chlorine gas in 1929, it became possible to begin production of refined bismuth. Unfortunately, bismuth deleaded with chlorine always contained residual chlorides, and the removal of the chlorides by caustic soda left a lead content of 0.02 to 0.04 pct. This final problem was solved6 by substitution of air-blowing for the caustic treatment, which effectively removed all excess chlorine and gave bismuth which was practically lead-free. In 1934, a pilot electrolytic lead refinery began operations at Oroya. Lead smelting was resumed in 1935 and two years later a 100-ton-per-day lead refinery was put into service. In conjunction with the latter, the present-day Anode Residue Plant was constructed. Until 1940, the plant treated both lead anode slimes and dust reduction bullion. The dust reduction furnace was shut down in that year, and all cottrell dusts (with the exception of the product from the arsenic cottrell) were mixed with pyrite and treated in a Wedge roaster to eliminate all possible arsenic. Calcine from this operation joined the sinter plant feed; hence the bismuth from the copper and lead circuits was collected in the lead bullion and subsequently in lead anode slimes from the electrolytic lead refinery. The latter source has been the only bismuth-bearing material of any consequence entering the Anode Residue Plant from late 1940 to the present. A copper refinery began operating in 1948, and the cell mud from this plant is mixed with lead slimes and processed through the same circuit, though only a small quantity of bismuth is present in electrolytic copper cell residues. BISMUTH INTAKE Present-day routes which are followed by the new bismuth feed from its entry into the primary smelting circuits to its arrival at the Anode Residue Plant are traced schematically in Fig. 1. As illus-

Jan 1, 1962

By William Campbell

(Cleveland Meeting, October, 1912.) THE structure of iron and steel, though the object of so much study and research for the past 25 years, is by no means thoroughly understood. In the first place, we have three or more distinct iron-carbon thermal diagrams, each with its own supporters, and each representing a theory of the structure and constitution of cast-iron. In the second place, by reason of the fact that austenite, the solid solution of carbon in iron, decomposes in the solid state into ferrite, or pure iron, and cementite (Fe3C), and that quenching from above this transition-range, no matter how rapid, cannot entirely prevent the change and thus preserve the austenite by itself at ordinary temperatures, it happens that under the microscope we find, in addition to the ferrite, Fe3C, and austenite, which the thermal diagram of steel requires, it series of transition-products with distinctive structures, to which have ,been given the names martensite, troostite, sorbite, etc. Now these transition-products, in addition to the solid solution, austenite, have been the source of much controversy, at times very bitter. One side would insist that, say, troostite was an entity, which the other side would deny, pointing out that it must be a transition-mixture, with a particular structure. That austenite was a solid solution of carbon in iron has been denied by one school ; we have been told that Fe24C dissolved both Fe3C and Fe, and thus gave rise to a whole series of quenching-products-all this in spite of the fact that no matter how the thermal diagrams differ in regard to cast-iron, they all agree in regard to the solid solution, austenite, for Fe24C finds no place on the diagram. Thus it happens that while the authorities fight both in regard to the iron-carbon diagram and the structures met with in hard- * Associate Professor of Metallurgy, Columbia University in the City of New York.

Dec 1, 1912

By C. A. Heiland

NOT only has the demonstration of progress in all fields of science been characteristic of the Chicago "Century of Progress," but the manner in which the fundamentals of these sciences have been displayed captivated the visitor's eye and ear at the same time. The average individual is interested most in progress which concerns his every-day life. He is fairly well educated in medicine, biology and certain aspects of physics. But how raw materials and chiefly minerals occur, how they are located, taken out of the ground and refined, is something which appears to be more remote from the every-day line of interest, and about which, therefore, the public knows comparatively little. This is particularly true of the oil industry, although it ranks in size second only to agriculture in the United States. In appreciation of the tremendous educational value which a complete exhibit on all phases of the mineral industries would have, both mining and metallurgical as well as oil inter¬ests took steps early to make these exhibits at Chicago a reality. The board of directors of the A. I. M. E. authorized an advisory committee to the Museum of Science and Industry early in 1932. It is divided into four subcommittees - for geology and petroleum, for metal mining, for coal mining, and for metallurgy respectively. The entire committee held its first meeting in Chicago on April 11 and 12, 1932, to advise with the Museum's officials and experts about the most advantageous arrangement of the minerals industries' and geology exhibits.

Jan 1, 1933

By R. L. Minckler

PETROLEUM industry forecasts are constantly made and revised but are not in the nature of predictions. Particularly in the field of demand, many of the factors are far beyond control by the producing industry. Supply reacts on demand and demand reacts on supply. Competent economists in the oil business forecasted a year ago, on the basis of experience, that demand would now be at a much lower level than it is. This increased demand increased the price of crude oil and products, and in turn those increased prices have brought forth increased supply. A reduction in demand would lead to a reduction in supply. Shortages are now world-wide, and costs of secondary importance, so if there were extra supplies in California they would be moved into what are termed "unnatural markets." For example, Argentina is in the market today for California gasoline; that is an unnatural market because of the greater transportation distances from California to Argentina than from normal sources.

Jan 1, 1947