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By E. G. Gaylord

A BRIEF review of the oil conditions in California for a few years prior to 1923 is desirable for a clear comprehension of the development during that year and the results of the development. California's oil production during the five years preceding 1922 had been running from 100,000,000 to 115,000,000 bbl. annually. Crude oil stocks in storage had been declining steadily from 1915 to 1919, when there was a slight increase. They continued to decline through practically all of 1920, when they were drawn on to the extent of 11,350,000 bbl., leaving 20,930,000 bbl. on hand. In 1921, with production approximately 10,000,000 bbl. greater than the previous year, crude-oil stocks increased until, at the end of the year, there were 33,289,000 bbl. on hand. It would seem, therefore, that at the end of 1921 the so-called Pacific Coast province could absorb between 100,000,000 and 105,000,000 bbl. of oil per year, any in excess of this amount going into storage, not being, able to compete in other markets with oil outside the state. During 1922, daily production increased from 316,000 bbl. at the beginning of the year, to 500,000, at the end. This increase was the result entirely of production from the new fields, in the Los Angeles basin. In fact, considerable oil from the older fields of the state was shut-in beginning with March, 1922. As of 1922, the past development of the oil industry of California had been, in a general way, quite regular. As the need grew for more oil, pioneer drilling was increased, resulting in the discovery of new fields here and there. The good prices for crude oil that prevailed during the later part of the War and into 1921 had stimulated an extensive wildcatting campaign by California's larger oil corporations, as well as by smaller independent oil companies and by individuals. Many wildcat wells in California have required, two or three years for their completion, consequently the intensive wildcatting, which might be said to have started in California in 1917 and continued into 1922, found its greatest results with, the discovery of three very productive fields which, for all practical purposes, might as well have come in simultaneously.

Jan 3, 1924

By H. W. Page

Petroleum requirements since V-J day have been appreciably higher than predicted. Foreign operations now exceed maximum wartime levels by about 14 per cent. Domestic operations since V-J day have averaged 92 Per cent of the wartime peak. In spite of maximum foreign refinery runs, large exports of all products, except residual fuel oil, are necessary to meet foreign demand. During the next few years it is expected that foreign operations will continue at capacity, including new installations, but that, because of increases in foreign demand, exports will continue at about their present level. Domestic operations will increase during this period and crude production probably will exceed maximum efficient rates. Even after 10 years some exports probably will be required, but eventually these will be supplanted by increased output of foreign refineries, except for small tributary exports. The increase in domestic requirements will exceed the decline in exports. Unless findings of crude oil exceed present expectations, the increasing demand will be met by increased imports and synthetic methods-—such as the Hydrocarbon Synthesis Process for conversion of natural gas and coal to gasoline and distillates. Catalytic cracking installations will increase as crude availability decreases. This will help to meet the increasing demand for gasoline but will intensify the domestic shortage of residual fuel oil. Eventually larger imports will be required to satisfy the demand for this product. Introduction Under the pressure of the wartime period, there was time only occasionaly to look ahead in anticipation of what the postwar era held for the petroleum industry. Perhaps the general expectation was that a rather pronounced decline in the level of industry petroleum operations would take place shortly after the end of the war, with the impact felt mainly on the economy of the United States- It is of interest now, nine months after V-J day, to take inventory of the near-term situation and see what significant forces are at work. With this as a starting point, it should be possible to engage in something more satisfactory than pure speculation concerning trends in the immediate future and 10 to 20 years ahead. Present and Near-term Situation During the nine-month period following V-J day, foreign crude oil production and rebery operations have actually increased the These activities were at maximum capacity on V-J day but the continuation of drilling programs, the completion of new and rehabilitated refineries and of transportation facilities during the Past nine months have increased the foreign capacity. This added capacity has been fully utilized. Foreign crude oil production in May 1946 is about 14 per cent higher than during July 1945 and refining operations some 12 per cent higher' During the same period there has been a falling off in similar activities within the

Jan 1, 1947

By Paul Billingsley

The Asientos-Tepezala district is in the north of the State of Aguasca-lientes, about 30 miles north of the city of Aguascalientes, the capital. The district is reached by a standard-gage railway on the west side through the junction, Rincon de Romos, which is on the main line of the National Railways of Mexico from El Paso to Aguscalientes. The terminal is Tepezala. On the east side a narrow gage connects Asientos with the junction, San Gil, on the main line, Asientos to San Luis Potosi. Tepezala on the west side of the Asientos hills is about 2 miles from Asientos on the east side. The area between the two mining centers is separated by a low subdued divide which forms the central part of the hills. The district is in a group of isolated hills surrounded by characteristic bolsón plains. The hills rise above the surrounding plains about 6500 to 10,000 ft.; the highest peak is Alta Mira. The two mining districts lie somewhat upon the flanks of the hills at about the same elevation, 7200 ft. The district is an old one and has been known since early in the 17th Century when the mines were worked by the Franciscan Monks. Their mining operations, which were limited to the oxidized ore above the water level, consisted chiefly in extracting silver from the Santa Francisca vein. To judge from the old workings and the remains of surface plant, the operations were on a large scale. By modern mining operations since about 1900, the various mines of the district have been one of the principal sourees of ore for the smelter located at Aguascalientes. Topography The topographic features of the Asientos hills are largely controlled by the character of the underlying rocks. During the Tertiary period, the entire group of hills was probably covered by extrusive volcanic material in the form of cones and lava flows. The central part of these have since been carried away by erosion, so that remnants have been left along the borders of the hills. These remnants form rather conspicuous peaks,

Jan 1, 1927

By R. J. P. Lyon

It is usually assumed1,2 that ore deposition is relatively slow, taking place over tens of thousands of years. Yet many syntheses and phase changes can be completed in the laboratory in a matter of hours, under essentially the same pressure and temperature conditions to be expected in nature. Much has been written about geothermometry, and Ingerson's recent summary2 an hardly be surpassed. Rather than review the whole field, this article will deal specifically with diffusion rates in solid solutions* of the sulfide minerals. In the study and application of temperature-indicating phenomena to problems of ore genesis, the time factor has often been neglected. In the particular case of sulfide systems, the speed of unmixing and diffusion of the constituent phases in the solid solutions has seldom been considered when laboratory data are applied to the genesis of natural sulfide ores. Chalcopyrite and Bornite Intergrowths: Chal-copyrite and bornite are copper iron sulfides often found in association. In many ores the individual grains appear to have mutual boundaries, but bladed intergrowths are quite common. Early workers in the field, " deduced that while these patterns could have been formed by replacement, they could be experimentally reproduced from the unmixing of solid solutions of the two previously homogenized at 475°C. Much of the ore from Roan Antelope mine in the Rhodesian Copper Belt exhibits these bornite-chalcopyrite intergrowths, from which it has been deduced that the ores could have been subjected to a minimum temperature of 475°C. In several recent interpretations,' this temperature rise has been considered to result from a regional metamorphism of an original syngenetic copper-bearing sediment. The same temperature rise to 475 °C was suggested from similar intergrowths in the sulfide- • The general subject of solid solution in structurally similar minerels is treated in many texts'. :' ' and will not be further elucidated. bearing ore from the Happy Jack uranium mine8 on tile Colorado Plateau, although this temperature had a different origin. In 1931 SchwartzV etermined that 475°C represented the unmixing temperature of his bornite-chalcopyrite solid solutions but, more important, that the characteristic intergrowths of bornite and chalcopyrite could be preserved only if the solid solution were chilled quickly to room temperature. This significant corollary has been almost completely neglected by both Davis and Miller.7,8 By suitably decreasing the cooling rate, Schwartz found that the original pattern of the intergrowth was reformed (Fig. 1). The cooling rate was critical. In cooling from 475°C to room temperature in

Jan 1, 1960

By G. H. Clevenger

The reagents now used in flotation consist of various acids or salts, which may be either electrolytes or non-electrolytes, dissolved in water and some substance or combination of substances which function as collecting or frothing agents. At times the only dissolved salts present are those naturally occurring in the water used. The general effect of the electrolyte is to greatly sharpen the separation between the gangue and the concentrate. Examples of this are: The use of sulphuric acid with zinc ores; and of sodium carbonate or calcium oxide (lime) with silver-gold ores. Crude pyroligneous acid is also sometimes used when avail able. Various oxidizing agents, such as permanganates, bichromates, etc., are added in the selective flotation of lead-zinc ores. Many other reagents for performing certain specific functions, either real or imaginary, have been proposed, and a number of them have been tried upon a working scale. The wild orgy of experimentation which is now going on in flotation exceeds even that which followed the introduction of the Washoe process for the treatment of Comstock ores, when, among other things, sage-brush tea and tobacco juice were reagents added to the pans. Out of all this will, of course, eventually come a more or less standard practice for the treatment of each class of ore. Omitting a discussion of the functions of frothing and collecting agents, the reagents used in flotation for this purpose may be classified under five general heads: (1) Essential oils; (2) fixed or fatty oils; (3) alcohols and their combinations with organic acids; (4) coal tar and its refined products; (5) petroleum and its refined products. A flotative agent of some kind is required in flotation as now practiced. A single reagent, as, for example, certain of the essential oils, may perform the dual function of frothing and collecting agent, or a mixture of substances may be required. In this country, the essential oils used have been wood products, and have been almost exclusively confined to the steam-distilled pine oils. At the present time, the supply of these is limited, and the cost almost prohibitive, so that their use has been dispensed with as far as possible. The oils and tars resulting from the destructive distillation of

Jan 1, 1917

By Raymond Howe

SOME time ago,, a prominent engineer asked a representative of the firebrick industry to prepare a comprehensive paper on blast-furnace refractories. It was to have been the purpose of this paper to gather practical experiences from widely different sources, in the hope of determining what kind or kinds of firebrick were best adapted for certain uses. This engineer sent questionnaires to the large consumers of blast-furnace linings and stovebrick and received very detailed replies as to their experiences. These replies are conflicting, but, having been turned over to the writer, form the basis of this attempt to meet the request. Because of the impossibility of making final recommendations at this time, a few of the more interesting and commonly known methods of studying refractories are also discussed, as well as the more recent developments in this field. The first reply to, the questionnaire stated that good service was being secured from the linings. This satisfactory condition was attributed to the use of a very good distributor. The writer believed that manufacturers try to and do produce a good product and that the proper handling of equipment is of the utmost importance, if good results are to be secured. The type of bricks used was not mentioned. The second reply stated that good life was secured from the furnace linings, but that the writer had had soft-fired stovebrick crumble and, for that reason, preferred a hard-fired product for use in this position. The type of bricks used was not mentioned. The third reply stated that firebrick had crumbled from the mantle up; the cause was not known. The fourth reply stated that the stove linings were satisfactory. Hand-made furnace linings failed after 4 years' service so a steam-pressed lining was installed which was still good after 4 years of service. Consequently, a second steam-pressed lining was installed but this disintegrated at the top after the furnace had been in- blast 7 months. The firebrick manufacturer attributed this failure to the expansion of iron blocks that had been installed at the stock line to prevent erosion.

Jan 9, 1919

By W. F. Holbrook

In a previous paper1 a method for the measurement of the comparative desulphurizing power of slags was described and data were presented covering the range of likely slags containing up to 10 per cent MgO. In the present work the range is extended to include slags containing up to 20 per cent MgO, and the effect of temperature on 5 per cent and 15 per cent MgO slags over the range 1475' to 1525' C. is included. The method used was that described in the previous paper except that some of the temperature measurements were made with a noble-metal thermocouple instead of a tungsten-graphite thermocouple. Twelve-gram charges of 0.8 per cent sulphur-metal and 5-gram charges of slag were subjected to heating for 30 min. at a prescribed temperature. The charges were analyzed for sulphur content. For purposes of comparison, desulphurizing power is defined as the ratio of the percentage of sulphur found in the slag to that found in the metal. Six slag and metal charges were made coincidentally in 5/8in. holes in a section of an electrode graphite rod. One slag and metal charge was used as a control by means of which adjustment in the desulphurization value could be made for small variations in temperature and other factors. For convenient presentation of the data, the slags are arranged in groups in each of which one of the four main slag components is constant. Thus, the 15 per cent MgO slags are presented separately from those containing 20 per cent MgO. Slags with Magnesium Oxide Constant 15 Per cent Mg0.—The data on slags containing 15 per cent MgO cover a composition range of 24 to 50 per cent SiO2, 5 to 27 per cent A1203 and 24 to 53 per cent CaO. Variation in composition has been in steps of 2 per cent over much of the area. Because the change in desulphurization power is generally gradual with gradual change in composition, certain sections have been covered in steps of 4 per cent and even

Jan 1, 1938

By R. P. McLaughlin

In most branches of the mining industry it is a well-recognized fact that care must be taken to protect the mineral deposit from undue physical injury. It is comparatively easy to grasp this idea when the mineral is a solid and the lives of workmen depend directly upon the care with which it is removed from its natural position, but when the product is a liquid drawn up from pools several thousand feet beneath the surface of the ground through openings only a few inches in diameter, it requires some imagination to picture underground conditions and the changes which must often occur. The development of the petroleum deposits of California has been attended by numerous accidents, the results of which are readily noticed at the top of the wells and in the profit and loss accounts of the operators. Determination of the cause of these accidents has been the subject of considerable study, which naturally has fallen upon men familiar with technical methods. The greatest damage to the oil deposits of California has resulted from water finding its way into the oil-bearing sands, and it is the purpose of this paper to set forth briefly this phase of the oil industry. Much of the material here presented has previously appeared in publications issued by the California State Mining Bureau, which, under the direction of State Mineralogist Fletcher McN. Hamilton, has investigated the subject and taken steps toward improvement of conditions. The writer, having been in charge of this branch of the Bureau work, has gained considerable knowledge of existing conditions. Generally speaking, the oil-bearing formations of California are soft, unconsolidated sand beds, separated by clay strata, which are also soft. Some of the sand beds carry water instead of oil. All of the beds are more or less separated, probably being of lenticular shape. Very few of the beds in the oil fields lie flat or undisturbed over any great area. Folding and tilting are common, and faulting also occurs in some of the fields. The accumulation of oil is not confined to any single structural feature, such as the anticline, but occurs in many other structural features. Water-bearing strata occur in practically every oil field in the State. Complete data are not at hand for a comparison of the damage

Jan 1, 1916

By Stirling Huntley

With the threatened falling off in production of the lighter oil pools of the Tampico embayment in Mexico, a general search of that country for oil-producing regions has resulted in renewed activity in the region of the Isthmus of Tehuantepec, one of the first districts exploited in Mexico. Since the drilling of the first well in the San Cristobal section by the Pearson interests in 1902, drilling has been continuous, except during 1917-1921, when practically all development was stopped by the revolutionary activity. Early in 1921, a drilling campaign was inaugurated for the purpose of testing out the known salt-dome poolfi on the flanks of the salt masses, rather than on their tops where previous tests had been located. On Dec. 7, 1921, the Aguila Co., with which are consolidated the Pearson interests and which has been the only company active in developing this region, unexpectedly drilled into a sand horizon at 3015 ft. with its Conception well No. 18. The hole was unable to handle the production, as a 1400-ft. string of 121/2-in. casing was hanging in the hole, a salt-water horizon drilled through at about 800 ft., was not cemented off, and 3000 ft. of 4-in. drill stem with rotary bit was in the hole. This well's potential capacity was never determined, but it made 7000 bbl. of 25" Bé. oil through the bit and Pin. drill stem, in one of its sporadic flows before sanding up, and thus proved itself capable of the largest potential production of any well on the Isthmus. The well showed salt water before caving and sanding up with the drill stem still in the hole, and will probably never be used for production. Wells Nos. 22 and 23, drilled nearby, have proved disappointments after making good showings of oil. In the spring of 1922, Ixhuatlan wells Nos. 28 and 29, deep tests supposedly on the flank of the known salt cores in that field, went into solid salt; No. 28 at 2250 ft. and No. 29 at 2400 ft. No. 28 was continued in the salt for 1000 ft. before operations were stopped. Later comple-

Jan 1, 1923

By Albert C. Harding

For several years barite (BaSO4) production has topped such better known minerals as feldspar and fluorspar in annual tonnage and is now well established among our foremost nonmetallic industries. Description Of widespread occurrence in the United States, barite is relatively soft (hardness, 2.5 to 3.5), inert, heavy (specific gravity, 4.5), and is also called "barytes" (sometimes pronounced "bear-i-tease"), "heavy spar" and "tiff." It occurs with granular and earthy structure but usually has coarse, orthorhombic crystallization. It is commonly white, and although occurring in various shades of red, yellow, and gray, barite always gives a white streak and can be scratched by the ordinary prospecting pick. Its softness and weight are usually sufficient to establish field identification. Another aid is the "rotten egg" odor of H2S which sometimes emanates from freshly fractured surfaces. Barite can be readily distinguished from two other minerals which have somewhat similar occurrences and characteristics. The relatively rare celestite, strontium sulphate, has a specific gravity slightly less than 4.00 and gives a distinctively crimson color in a flame test. The very rare wither-ite, barium carbonate, has a specific gravity of 4.3 but readily effervesces with dilute hydrochloric acid. Occurrence All known commercially important barite deposits in the United States occur as re- placements or cavity fillings in schists, shales, limestones, dolomites, and quart-zites, or as residual deposits from such formations. In Georgia, Tennessee, North Carolina, and Missouri, high-grade barite is recovered as fragments from residual clays covering quartzites and dolomites. In Arkansas, Nevada, and California, barite, usually of lower grade, is mined from replacement deposits. These seven states contributed the entire production reported by the U. S. Bureau of Mines for 1945 as given in Table I. Table i—Crude Berile Sold or used by Producers in 1945 State Short Tons Arkansas................... 260.660 Missouri.................... 225.467 Georgia..................... 110,393 Tennessee................... 32,812 Nevada..................... 28,919 Other States............... 37,811 Total..................... 696,062 ('other states,, included only california and North Carolina. Such a large part of this undistributed production came from California that that state probably outranked both Nevada and Tennessee. For the second consecutive year Arkansas was the leading producing state, particularly worthy of note because there was no commercial production of barite there prior to 1941 and because the entire production of Arkansas has come from one large deposit which is being operated by two companies. Consumption The 1945 consumption as reported by the Bureau of Mines was: 482,442 tons as ground barite 139,288 tons in making lithopone 99,173 tons in producing barium ------- chemicals Total 720,903 tons

Jan 1, 1949

By Louis V. Bender, R. E. H. Pomeroy, David H. Browne

E. P. Mathewson, Anaconda, Mont.—After hearing about the success of D. H. Browne with his furnaces, we in Anaconda decided we might venture into the field of pulverized coal for reverberatory smelting. We sent a delegation of investigators to see Mr. Browne and his work, and they returned, filled with enthusiasm, and said they would recommend it strongly.. We thereupon asked for an appropriation, and after some delay obtained the same and fitted up one furnace to use pulverized coal. We copied Mr. Browne's practice and his selection of machinery for drying and pulverizing coal; and we also copied the burner he used, which was a standard article on the market. We got an expert coal-dust machinery man to design our plant, and were very glad we did so as we avoided some of the unpleasantness that had been experienced at other plants through fires and minor explosions. I want to say, before describing our apparatus a little in detail, that we were quite familiar with the work of Mr. SÖrensen, the pioneer in the use of pulverized coal for copper smelting. Our attention had been called to it by Mr. Klepetko early in the game. And afterward we were familiar with the work done at Cananea by Mr. Shelby. We sent an expert to investigate the question 10 years ago. He examined the work of Mr. SÖrensen; and then went to the cement men and examined their work, and reported at great length that coal dust was the ideal fuel for them, as they took the ash from the coal and sold it as cement. He reported that coal-dust firing could not be made economical in reverberatory copper smelting, and his reasons were that a blanket of nonconducting material would cover the charge in a short time and insufficient heat would reach the charge proper, and we would have floaters over all our furnaces. The flues would be stopped by the dust that did not settle on the charge. We accepted that until our Irish friend got busy and showed us how to do it. Then we built a furnace which we thought was a slight improvement over Mr. Browne's. We put railroad tracks over our furnaces to draw the charge to the furnace. We had

Jan 1, 1915

By W. H. Emmons

The exploration of deposits of the metals will never become an exact science. There will always be an element of uncertainty in prospecting and developing mines. In countries where the surface has been closely scrutinized, most of the deposits whose outcrops contain valuable metals have probably been discovered. Many metalliferous deposits, however, are normally so much altered at the surface that the true significance of their outcrops is likely to be obscured. If a deposit is not exposed, its presence may become known by some one of its characteristics that is different in kind or in degree from a similar feature of the associated rock. Thus, a deposit that is not exposed may be discovered because of its magnetic property. So few minerals are strongly magnetic that the value of magnetic surveys is limited, but the dip needle has nevertheless proved of great aid in locating magnetic belts, and these in some regions are associated with workable iron ores. The Cuyuna Iron Range of Minnesota, which does not exhibit any outcrop of iron ore, was discovered by drilling "areas of attraction" that are due to belts of magnetic rocks associated with the iron ores. In some regions the use of the dip needle is justified, even if it does no more than reveal the strike of the rocks, since a knowledge of the latter enables the driller to locate and point his holes to advantage. The measures of gravity by the use of the pendulum are so accurate, or the limit of error is so small, that one might detect the presence of a concealed tabular deposit approximately at the surface, 34 ft. (10.36 m.) thick, having a density double that of the surrounding rocks. However, not many deposits have a density twice that of ordinary rocks and a thickness as great as 34 ft.; if they lie a short distance below the surface the density or the thickness must be even greater. Consequently, there is not much hope of sufficiently developing the gravity method of detecting deposits of heavy ores to make it of practical value. If the limit of error could be reduced to about one-tenth the present factor, and if the rather tedious and painstaking methods of determining gravity that are now in use could be simplified, the method would promise some degree

Jan 1, 1918

By A. B. Kinzel

SILICON and its metallurgical uses have been the subject of speculation since the earliest days of modern civilization. The early philosophers, Theophrastus and Pliny, believed that silica was a special form of ice, an opinion that was not seriously challenged until the seventeenth century. The first comprehensive view of the nature of silica was advanced by Lavoisier in 1787. He assumed silica to be an oxide of an unknown metal. In 1808 Berzelius produced ferrosilicon by heating silica, iron and charcoal. Probably the first produc¬tion of crystallized silicon was in 1854 when H. St. C. Deville accidentally produced the material while electrolyzing a double chloride of aluminum and sodium containing siliceous impurities. It is not strange that the early investigators should have given so much attention to silica and silicon, because of the great natural abundance of the former. Although silicon does not exist in the elemental state in nature, it has been estimated that the lithosphere contains approximately 60 per cent silica; quartz and rock crystal are found in practically every part of the world.

Jan 1, 1933

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco's development of the Weipa bauxite deposits in Northern Queensland in the late 1950's, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960's, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA's interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt's is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor's balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor's activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER'S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By Gifford White

Considerable attention has been directed in recent years to methods of electric prospecting other than the conventional direct-current techniques. It has been extensively recognized that electrical data of a more general nature than that possible by direct-current methods might be useful in geophysical studies. To this end, a number of different types of electric currents have been employed, such as single-frequency alternating currents, square-topped periodic current waves,4 periodic surges of a less specific nature,s and suddenly applied direct current.1,2 Yet, to the author's knowledge, little analysis of these different types of driving currents has been made from the standpoint of network theory to determine just what typc of currents would give the most useful data, and, most important of all, to determine the relation of the data taken by one method to those of another. Without touching on the actual theoretical problem of how currents flow in the earth under specified boundary conditions, some very useful information can be obtained from the study of the fundamental integral equations of electrical networks, throwing light on the problem not ordinarily appreciated by the field worker. Some manipulation of the standard network equations will be made, with the sole purpose in mind of developing expressions leading to practical results. Suppose that four points in the earth have been located and it is wished to obtain the most useful type of electrical data by inserting current into two of them and measuring the potential developed between the other two. The first problem that arises is that of which pair of the four shall be chosen as current grounds. In the direct-current case, where only steady potentials are measured, the selection is of little consequence, but as soon as currents varying with time are used at the current grounds, a new effeet arises. The fact that a varying current is flowing in the current-carrying conductor between the current grounds means that magnetic and electric fields varying with time will be produced

Jan 1, 1940

By G. A. Vissac

In the presentation which follows, wash-ability curves, such as are commonly used in making studies preliminary to the cleaning of any coal or to the concentration of any mineral, have been reduced in each instance to a single straight line; thus all the most important characteristics of the coal or mineral are represented in a form more advantageous than that in which such data usually are shown. To obtain consistent results, float-and-sink data must be based on a single definite narrow size range, which may be designated "a coal unit." It will be shown that such units, each embodying a different size range, can be grouped to form what may be termed "a composite coal." A three-dimensional presentation will emerge, which will closely identify the coal, illustrate its characteristics in a new manner and explain many obscure facts. Float-and-sink Tests For the preliminary study of any cleaning or concentration problem, or in the control of any operation, float-and-sink tests must be made. The results of these tests are grouped in tabular form and then illustrated in various systems of curves; but if such a graphic representation is to have the utmost practical value, it must offer at least the following advantages: (I) It must be easier to read than the tabular results, and (2) it must be easy to plot, check and interpolate. The first requirement will be attained by reducing the number of curves to a minimum, and the second by some system of representation that will use only straight lines. Of the many washing curves now in use, only the "recovery curve," often known as the "composite curve"—a somewhat misleading term—will be considered; Any point on the recovery curve will show what percentage of weight of clean coal can be recovered when the mineral is washed at a certain specific gravity. As an example, the tests listed below Fig. I are illustrated in the drawing by a curve obtained by plotting (I) as abscissas the ash content of the coal recovered and (2) as ordinates the corresponding percentage of refuse discarded; but, in general practice, instead of writing down that weight, it is customary to set down its complement, which is the corresponding weight of coal recovered. From this curve can be deduced the information necessary for the solution of most practical problems. New Form of Graphic Presentation The resemblance of the recovery curve ill Fig. 1, or, for that matter, the recovery curve obtained in common practice! to a Power curve is apparent. The general equation of such a curve is Y = axn, where n is negative. Taking logarithms: log y = a + n log x. Using a logarithmic scale, the equation of the recovery curve will be Y = A + bX. On this logarithmic basis! the recovery graph will be a straight line, using the same variables as in Fig. I; namely, the ash con-

Jan 1, 1942

By Alec M. Crowell, Thomas D. Bailey

Although natural gas was first discovered in Northwest Arkansas in 1887, . near Fort Smith, Sebastian County, the literature contains very little information on the region, which is separated distinctly from the oil area of Southern Arkansas. For that reason this brief and concise report is a summary of developments from discovery to the present time. Northwest Arkansas produced 5,736,-ooo,ooo cu. ft. of natural gas during 1942, the trend of production having been generally upward over the past five years, as is shown in Fig. I. Since 1904 a reserve of 237 billion cubic feet of natural gas has been discovered in Northwest Arkansas, of which approximately 162 billion cubic feet have been expended, leaving a reserve of approximately 75 billion cubic feet available as of Jan. 1, 1943. A prolific new field discovered in Pope County Oct. 23, 1942, will add to the reserve of the region materially. Per well reserves, over-all, are unusually high because of the practice of multiple completion. As yet no commercial deposits of oil have been discovered in Northwest Arkansas. but the gas deposits have proved of immense value industrially, principally in the processing of zinc ore mined in the local area as well as that imported from distant states. With the war, new interest in the exploitation of the metallic ores of the region lends new significance to the gas reserves tabulated herein. Geological Discussion The region covered in this report comprises the Arkansas Valley from Pope County weslward to the Arkansas-Oklahoma state line as shown in Fig. 2. This valley is a westward trending structural trough with sharp-topped ridges and mesa-like mountains rising above the valley's undulating surface. It is bounded on the north by the Ozark Highlands and on the south by the Ouachita Mountains. The sedimentary beds of the Arkansas Valley are composed mainly of noniossil-iferous shales and sandstones. The rocks contain a high content of carbonaceous material and many coal beds are found in the region. The Gxed carbon ratios (ratio of fixed carbon to volatile combustible matter of surface coals) are very high and average about 80 per cent over the region covered in this report. Little or no calcareous material is present. Rocks of the Arkansas Valley are sharply folded, and igneous intrusive rocks cut the sedimentary beds at a few places. The Arkansas Geological Survey' made a detailed reconnaissance survey of the Arkansas Valley province in 1927, the purpose being to delineate the major structural features (Fig. 3) and to point out the possibilities of discovering addi. tional gas deposits. More than fifty anticlines were mapped as a result of this survey. The information gained by this

Jan 1, 1943

Apparatus and a method for determining the volumetric behavior of hydrocarbons at pressures up to 10,000 psia and at temperatures between 0° and 460°F are described. The equipment is suitable for measuring the total volume of the system and the volume of a liquid phase as functions of state within these ranges of temperature and pressure. Introduction During the past two decades there has been a marked increase in the ranges of temperature and pressure encountered in underground hydrocarbon reservoirs of commercial interest. In addition, greater interest in the intensive characteristics of the fluids found in these reservoirs has developed. Apparatus Several types of apparatus have been developed in the authors' laboratory for volumetric measurements of hydrocarbon systems. The earliest equipment described1 was characterized by constant volume, and the weight of material present was varied systematically in order to attain the different pressures desired in the study. Later another apparatus2 was built in which the effective volume of the cylindrical cell, which confined a hydrocarbon sample of constant weight was varied by injection or withdrawal of mercury. The effective total volume of the equilibrium cell was measured by ascertaining the position of the mercury surface but no measurement could be made which gave knowledge of the volumes of individual phases existing within the hydrocarbon system. A third apparatus3 was designed for use at higher pressures and temperatures than the earlier equipment would tolerate. This apparatus was of the variable volume type but was built in the general form of a U-tube, the mercury level being measured at the surface which was not exposed to the hydrocarbon system. This arrangement avoided the need of subjecting measuring equipment to the extremes of temperature at which studies were made, but it gave no provision for measurement of the volumes of individual phases. Although this last apparatus was satisfactory as to accuracy and convenience for many purposes, need was felt for measurements of the volume of the liquid phase of the hydrocarbon system. For this reason a fourth equilibrium apparatus was designed and constructed, and it is the purpose of the present paper to describe it. The equilibrium cell has a working range of temperature from 0° to 460°F at pressures up to 10,000 psi. Provision for measurement of both total volume and liquid-phase volume makes it particularly suitable for the equilibrium study of heterogeneous systems consisting either of simple mixtures or of complex field samples of hydrocarbons. The general arrangement of the ap-

Jan 1, 1948

By R. J. Wysor

J. S. UNGER, Pittsburgh, Pa.-On page 22 reference is made to 36 carloads .of dust shipped. Did the material in that last sample come from a; furnace running on pig iron, ferro alloys, or spiegel? R. J. Wysor.-Pig iron; we have not made any ferro alloys; or spiegel at Bethlehem in the last 3 years. J. S. UNGER.-DO you use domestic or foreign ores? R. J. WYSOR.-In regular practice, largely foreign ores. J. S. UNGER.-How much per unit does it cost to produce that? R. J. WYSOR.-You might say it does not cost anything; we do not change our blast-furnace practice at all to obtain the dust. Although it has been a profitable byproduct, I would rather not have it unless we could reclaim it on a large scale, as we would have better working stoves. J. S. UNGER.-Does the trade take it as readily as natural salts? W. J. WYSOR.-The fertilizer dealers have been anxious to get it. This did not happen, however, until the war started. J. S., UNGER.-They have been willing to take anything since the war started. R. J. WYSOR.-Yes. However, we could have sold the material before the war; in fact, about 4 years ago, we had a contract ready to sign, but we did not think it would pay us to bother with it then. W. H. Ross, Washington, D. C.-We of the Fertilizer Division of the Bureau of Soils have been particularly interested in Mr. Wysor's investigations on the possibilities of recovering potash from the blast furnace, and we look upon the results he obtained as among the-most important that have yet appeared on the subject of finding new sources of .American potash. About 5 years ago we undertook a corresponding investigation on the recovery of potash in the cement industry. Representative samples of raw mix and ground clinker were collected from the different cement plants in this country with a view to analyzing each sample for potash. With the data thus obtained and knowing the ratio between the raw mix and the cement produced and the output of the latter, we thought it possible to calculate approximately for each plant the quantity of potash that escapes daily from the kilns. After partly completing the work, however, it had to be abandoned for a time. It was again taken

Jan 4, 1917

By James J. Wise

INTRODUCTION One basic design feature utilized in all caving and sublevel stoping techniques is the drawpoint. These draw- points may be located on sublevels when using sublevel caving methods, or may be located at the floor pillar when using block caving, sublevel stoping, or vertical crater retreat methods. How the drawpoint is designed and developed, how the ore is withdrawn from it, and how the ore is hauled to the shaft or portal encompasses the loading and hauling function. Historically, predominate loading and hauling equipment for caving and sublevel stoping has been scraper slushes, air powered overshot loaders, and rail mounted train haulage. All of this equipment has two common constraints. 1. The equipment locked into specific work sites and is not easily shifted to another work site. This constraint can often lead to low utilization and low productivity of the equipment. 2. The equipment is designed to work in the horizontal plane, which requires that the various horizontally-oriented working levels be connected by vertical raises. Vertical development by means of raises is not only increasingly expensive, but also is not well adapted to movement of large equipment into the s topes. In the last 20 years, two revolutionary labor saving concepts have become common in caving and sublevel stoping. 1. Long-hole drilling, which has mechanized the development of the drawpoint extraction structures as well as the actual stoping and undercutting. 2. Vertical access by means of trackless ramps between levels, and the consequent use of rubber-tired vehicles not only for loading and hauling ore, but also for the rapid movement of men, material, and equipment into the stopes. The introduction of trackless mining systems for loading and hauling has not been easy. Mine planners have had to re-orient their thinking to the larger operating space required by trackless equipment. Larger access drifts have necessitated reconsideration of mine layouts to insure proper ground support. Spiral ramp developments were often laid out on slopes steeper than the equipment could negotiate economically. Mine operators had to accept the added responsibility of roadway maintenance, water removal, increased ventilation, and more technical mechanical maintenance. As the mine operators enthusiastically embraced the superior productivity of trackless mining systems, they some- times disregarded opportunities to combine the older types of equipment with trackless vehicles to maximize productivity at lowest cost. In order to gain a proper perspective on this problem, it is necessary to review the various techniques of loading and hauling and to become more aware of the advantages or disadvantages that each system or combination contributes. LOADING Loading consists of two functions, (1) primary loading from a drawpoint and (2) secondary loading into long- haul system, a truck, train, or possibly a belt conveyor. Mine planners have four basic loading systems available to fit various operating conditions. These are, (1) gravity, (2) scrapers, (3) rail-mounted loaders, and (4) trackless loaders. Each system can produce optimum results under specific conditions. Gravity Loading Gravity loading is probably the oldest system in general use today.

Jan 1, 1981