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By B. W. Prof. Frazier

I PROPOSE in this paper to treat of the chimney merely as a heat engine, as one of the devices resorted to in practice for the conversion of heat into mechanical work. For the sake of simplicity and clearness in the discussion, let us consider the subject in its simplest form. Conceive a chamber, heated from without, in free communicatioH at one end with the external atmosphere, and at the other end opening into a vertical chimney. Let the. cross-section of the chamber be so great, relatively to that of the chimney, that we can neglect the actual energy of the air passing through the chamber. We will neglect, also, all passive resistances to the passage of the air. We will assume that the cross-section of the chimney is constant, and that the air in passing through it neither gains nor loses heat. The following symbols will be employed in the discussion : Po = the normal pressure of the atmosphere, which, it is assumed, is the pressure existing at the level of the chamber. Po = 10332.96 kilograms per square meter. P2 = the pressure of the external atmosphere at the top of the chimney. To = the, absolute temperature of melting ice by the centigrade scale. This is assumed to be the temperature of the external air at the level of the chamber. To = 273°. T2 =the absolute temperature of the air as it passes from the chamber to the chimney. T3 =the absolute temperature of the air as it issues from the chimney. to, t2, t3 are the temperatures, as recorded on the centigrade ther¬mometer, corresponding to the absolute temperatures To, T2, T3 re-spectively to = 0° C. In general, t = T- 273. Io, I2, I3, represent the intrinsic energy of the air at the temperatures To, T2, T3 respectively.

Jan 1, 1882

By H. M. Roche

MAGNETITE mining and milling in the Eastern States was sharply curtailed in 1938, production showing a decrease of 36 per cent from 1936 and 57 per cent from 1937. Six mines, one in Pennsylvania, two in New York, and three in New Jersey were in operation, either part or full time, during the year. In recent years ten Eastern magnetite mines have been more or less active but since the World War the market for Eastern ores- has been spotty. The scrapping of Eastern merchant pig iron furnaces, imports of cheaply mined duty-free foreign ore, and high freight cost have been contributing factors.

Jan 1, 1939

By W. N. Carr, J. R. Biard, B. S. Reed

An analysis of the semiconductor injection laser is presented which is based on a phenomenological model using device and material parameters. The intent of the laser threshold analysis is not to predict from theory the actual threshold current density but rather to provide a logical means of interpreting experimental results. The device and material parameters have been selected such that they describe both the threshold conditions and quantum efficiency of the lasev. A technique is proposed whereby the current required to obtain a population inversion is predicted from device 1-V characteristics. Experimental data are presented which support the analysis. THIS investigation is concerned with the characteristics of GaAs lasers fabricated in this laboratory. However, the assumptions used in these calculations should not limit their application to GaAs alone. It is felt that the analysis is sufficiently general to be useful in describing the operation of other semiconductor-laser materials. ANALYSIS heavily doped semiconductors to be considered. The absorption and/or generation of optical radiation may be completely specified in terms of q(E) and the probability functions f,,(E) and f,(E) which define the occupancy of the valence-band and conduction-band levels, respectively. The symbols used in this analysis are listed at the end. Following the approach of all' it can be shown that the effective gain coefficient, g, in the plane of a forward-biased P -N junction is g(E)=-ai@)[1-fv(E)-fc(E)] [1I In particular Eq. [I] holds for the photon energy at which lasing occurs, Ep. Throughout the following discussion Eq. [I] is considered only for the lasing transition E = Ep. For simplicity the functional energy dependence of the various factors is omitted in subsequent equations. Unless otherwise stated the symbols used represent the values at Ep. If the analysis is limited to the P-type side of the laser junction, the function q(l -f,,) is recognized as the band-to-band absorption in the P-type material at thermal equilibrium. Under forward-bias conditions the function f, is determined by the electron quasi Fermi level in P-type material. For sufficiently large forward bias the second term in Eq. [3] will become dominant and net gain will result; i.e., g will become positive. In order to simplify the subsequent analysis several assumptions are in order at this point. a) No conductivity modulation occurs. /„ is independent of f, and therefore go is a constant. b) The P-type material is heavily doped such that the degeneracy of the valence band permits popu-

Jan 1, 1964

[Separates of all the Technical Publications published in 1928 are available at Institute headquarters. All the papers are on file in public, university and technical libraries, and when so indicated in the list, may be found either in the TRANSACTIONS or in the special volumes issued by the Institute] . METAL MINING TECHNICAL TRANS. PUBLI- TITLE AUTHOR MEETING VOLUME CATION AND PAGE* No. 50 .The Eötvös Torsion Balance D. C. Barton New York Method of Mapping Geologic Feb., 1928 Structure 52 A Cartographic Correction for the C. A. Heiland New York Eötvös Torsion Balance Feb., 1928 61. Liquid-oxygen Blasting at Chuqui- H. C. Schultz, New York camata, Chile F. K. Middleton Hunter Feb., 1928 76, 108, 123 64 Working Methods of Practical Geo- Hans Haalck New York physics Feb., 1928 65 Experiments with Eötvös Torsion P. W. George New York Balance in the Tri-State Zinc and Feb., 1928 Lead District 74 Gravity Surveying in Great Britain H. Shaw New York Feb., 1928 75 The Computation of Eötvös Gravity E. Lancaster-Jones New York Effects Feb., 1928 82 Earth-resistivity Measurements in W. 0. Hotchkiss, New York the Lake Superior Copper Country W. J. Rooney, Feb., 1928 James Fisher 83 Mining Methods and Records at the Roy W. Moore New York 76, 56, 90 United Eastern Mine Feb., 1928 98 Recent Results in Electrical Pros- Hans Lundberg New York

Jan 1, 1928

By J. B. Dyess

TARNISH films on some of the common metals (particularly on copper and silver) have been of much scientific and commercial concern for a long time, but before the development of the electrical method1 of measuring film thicknesses there was no satisfactory quantitative approach by which to study the separate parts of these complex films. This method has been adapted to the measurement of duplex (cuprous-cupric) oxide films on copper .2 In the present work it has been used to measure tarnish films on copper when they were mixtures of cuprous oxide and cuprous sulphide, and also when they contained cuprous oxide, cupric oxide and cuprous sulphide, each component part being measured at a different potential value. Oxide-coated copper specimens, prepared by heating copper in air at chosen temperatures for given periods, were exposed to moist hydrogen. sulphide in air to form the various oxide-sulphide films studied. The comparative resistances afforded by (1) different thicknesses of oxide films, and also (2) equal thicknesses of oxide and sulphide films, against severe attacks of hydrogen sulphide were measured. The electrical method requires that the time be observed for the cathodic reduction of each part of the film substance, and these respective time values multiplied by the constant current give the corresponding quantities of electricity expended. Then each millicoulomb per square centimeter represents a film thickness of T= MX10 8 2D X 96,494 X 103 (a) where M is weight of oxide (or sulphide) giving one gram-atom of oxygen (or sulphur) for cathodic reduction, D is density of the oxide (or sulphide) and t is the thickness in Angström units per millicoulomb per square centimeter. The value of t for cuprous sulphide (cubical) is 14.27, and is obtained by substituting 5.78 for D and 159.20 for M in equation a. Previous values2 of t for cuprous and cupric oxides (12.36 and 6.39, respectively) were used in the present work.

Jan 1, 1939

No greater opportunity for public service has ever been presented to the engineers of the United States, as a class, than the campaign to make thrift a permanent American habit, conducted through the Savings Division off the Treasury Department. The engineer owes a duty to his community, to his country, by reason of the very fact that he is an engineer. By reason of his position and influence, his education and experience, he owes to his country the duty of public service. The public understands that the opportunities of the engineer have allowed him to equip himself to handle logically and properly questions affecting the public. He has been trained to maintain a constructive viewpoint. His work is constructive and he builds for the future. The qualities that the public deems necessary for public service have been bred in him. The time has gone by when the professional man can perform his whole duty to himself and his community by shrouding himself and his calling in mystery and locking himself away from the public in office or laboratory. The duty of public service is calling for every man whose training has fitted him to perform that service. The engineers of the country have demonstrated their capacity and their willingness for public service. Throughout the war period they, have been found in every branch of governmental and. civilian activity which could contribute to national success, doing their share to promote national efficiency. Their duties are not over.

Jan 7, 1919

By L. C. Brown, J. S. Kirkaldy

Measurements have been made of carbon diffuswn in the five ternary austenites Fe-C-Si, Fe-C-Ni, Fe-C-Co, Fe-C-Mn, and Fe-C-Cr in which the carbon (component 1) diffuses through interstitial sites and the ternary addition (component 2) diffuses substitutionally. Values of the diffusion-coefficient ratio, D12/D11 were determined for each system with finite couples using the transient equilibrium method. The effect of temperature and of concentrations of both the carbon and substitutional component upon D12/D was examined and was found to agree with the theoretical predictions. It is concluded that within an experimental uncertainty of 10 to 15 pct, it is possible to calculate the ratio D12/D11 from purely thermody-namic data. Difficulties of measuring the other off-diagonal coefficient, 4,, are discussed. Any quantitative attack on the fundamentals of the hardenability problem in steel must begin with the multicomponent diffusion formalism and with the accumulation of data pertaining thereto. In a recent paper Kirkaldy and purdy 1 employed the formalism derived from irreversible thermodynamics to treat the problem of diffusion in ternary austenites. In the latter solutions, carbon diffuses through interstitial sites and the substitutional component diffuses through the lattice. Examples were given of diffusion in the systems Fe-Mn-C and Fe-Si-C. In the present paper, we present new results on and discuss their agreement with the thermody-namic theory. Since the theory has been slightly modified from the original presentation of Kirkaldy and Purdy, their results on Fe-Si-C and Fe-Mn-C have been recalculated and are presented here for completeness. The flux of the interstitial component with respect to a fixed lattice framework can be written as a linear expansion in the independent concentration gradients, where X1 and X2 are the independent thermody-namic forces in the lattice fixed frame of reference. These forces can be obtained from the general statement for forces in a volume fixed frame2 if the partial molar volume of carbon atoms is set equal to zero and that of the substitutional component 2 is set equal to unity, viz where the are the chemical potentials and the N's are mole fractions. Introducing into [3] and [4] the function If, as suggested by statistical arguments, the off-diagonal interaction L12 is sufficiently small, [6] reduces to i.e., the coefficient ratio becomes purely thermo-dynamic. The activity of components 1 and 2 in a dilute ternary system (standard state at infinite dilution) may be represented by the expansion3

Jan 1, 1964

By Benjamin Smith Lyman

THE importance of topography to geology is so commonly underrated as to deserve to be pointed out again and again. The relation of topography to the different branches of geology may be seen best by a glance at them all. Geology is well understood to consist of the observation of facts about rocks as materials of the earth (geognosy), and the explanation of those facts (geognosy). The facts to observe are : I. GEOMETRICAL, as (1) structure, including the dip and strike at different points, the size, shape, and position of basins and saddles; (2) vertical section, that is, the thickness of rock groups and of their parts ; (3) horizontal or geographical position. 11. PHYSICAL, such as texture, whether sedimentary or crystalline ; and, if crystalline, whether granitic, porphyritic, amygdaloidal, globular, or concretionary ; whether compact or granular; coarse or fine; pervious or impervious; hard or soft; firm or tender; with cleavage or without ; massive or thin ; the microscopic structure ; also whether magnetic or not ; soluble or insoluble ; fusible or infusible ; and the constituent minerals. 111. CHEMICAL that is, the composition of the rocks and of their minerals and their affinities. IV. PALAENTOLOGICAL, as what kind of fossils are in the rocks,

By Henry D. Hibbard

I. INTRODUCTION. THESE impurities are perhaps the most important things in steel-especially steel made by the oxidation processes-the effect of which has not been at least approximately determined. By oxidation processes I mean the Bessemer and Siemens-Martin, during which the metalloids in the charge are removed by oxidation. It has been truly said that it is a clear advantage to have a new name for a new thing. To secure this and to economize space, let us adopt the name sonim (plural sonims) to designate the solid non-metallic impurities existing in steel or other metal. I would define a sonim as a solid non-metallic portion of matter existing as an impurity in metal. A piece of sand, brick, clay, or such material, imbedded in metal, would be considered as a foreign body, not as an impurity, and therefore not a sonim. The studies of sonims of which the results have been published hitherto, have been made chiefly or wholly on finished or at least on cold steel, without much, if any, regard to the specific methods by which the steel was made. While many of the results so obtained are valuable, they give little help in determining the cause, effect, or cure of the disease. It is not enough, in such a study, to know merely the commercial name of the process; for within the field of each process lies a great number of possible variations, each of which will yield a result differing in some respect from all others; and the control of sonims is particularly dependent. on the metallurgical treatment of the metal, because of the inability of analytical chemistry to throw much light on their presence, condition, and effect, as they usually occur in commercial steels. The microscope aids more, perhaps, than chemistry in their study.

Apr 1, 1911

By Walter W. Bradley

AT ONE TIME OR ANOTHER and in greater or less amounts, gold has been mined in at least 40 of California's 58 counties. It may not be inappropriate, by way of introduction, to give a brief historical statement relative to her production of the yellow metal. The presence of gold in the gravels of San Gabriel, San Francisquito, and other streams near Los Angeles, was known and they were worked in a small way by the Indians, at least as early as. 1841' and possibly 1820. -On March 2, 1844, Don Manuel Castanares, deputy for California to the Congress of Mexico, reported' to his government that placers near Los Angeles had yielded up to December, 1.843, a total of 2000 oz. of gold dust, most of which had been sent (via Mexico) to tile United States Mint at Philadelphia.

Jan 1, 1932

By Louis A. Carapella, William E. Shaw

Magnesium and its alloys have long been characterized as possessing limited capacity for mechanical forming at atmospheric temperatures prior to rupturing despite their outstanding performances in this respect at elevated temperatures. Responsible for this behavior are the fundamental facts that these hexagonal-type metals have comparatively few slip elements at low temperatures for any extensive deformation and that, at high temperatures, additional slip elements become operative, thus enhancing greater plasticity under strain. The transitionai point has been set at 2 25°C by Schmidl for single crystals, and at 250°C by Morel1 and Hanawalt² for extruded magnesium metal. In a recent X-ray investigation on poly-crystalline magnesium-alloy sheets, Barrett and Haller3 have revealed that, below the transitional tempelature, the initial plastic deformation proceeds mostly by a twinning action; that, above such a temperature, the action is mostly by slip. The deep-drawing performance of the magnesium + 1.5 pct alloy sheet† over a wide range of temperatures has been investigated by Weber and Vanden Berg,' and their results are presented in Fig I. It should be noted from this work that a maximum drawability of about 25 pct at room temperature has been obtained on this alloy under the conventional deep-drawing operations. For the same alloy, it is now possible to augment the cold drawability to about 40 pct by a process to be disclosed. Hitherto, this value has been obtained only by deep-drawing the alloy at around 230°C. That greater plastic flow is attainable at atmospheric temperatures on magnesium under certain deformational techniques was discovered by the authors6 in their analyses of plastic-deformational behaviors of pure magnesium. This fact is best illustrated in Fig 2 from the Har-greaves analysis6 performed by the authors under two different modes of loading. For direct test, a separate unstrained specimen was used for each load duration, whereas for the integrated test the same specimen was employed for all the five intermittent loadings so that the load duration was made additive throughout the investigation. The higher plastic flow-rate at room temperature, as designated by the Har-greaves constant S, was obtained by the integrated or intermittent loading procedure. The authors6 in further tests showed that, under such a procedure greater plastic flow was also realized with a progressive increase in deformatione 1 loads. These findings have been applicd

Jan 1, 1947

By William E. Shaw, Louis A. Carapella

Magnesium and its alloys have long been characterized as possessing limited capacity for mechanical forming at atmospheric temperatures prior to rupturing despite their outstanding performances in this respect at elevated temperatures. Responsible for this behavior are the fundamental facts that these hexagonal-type metals have comparatively few slip elements at low temperatures for any extensive deformation and that, at high temperatures, additional slip elements become operative, thus enhancing greater plasticity under strain. The transitionai point has been set at 2 25°C by Schmidl for single crystals, and at 250°C by Morel1 and Hanawalt² for extruded magnesium metal. In a recent X-ray investigation on poly-crystalline magnesium-alloy sheets, Barrett and Haller3 have revealed that, below the transitional tempelature, the initial plastic deformation proceeds mostly by a twinning action; that, above such a temperature, the action is mostly by slip. The deep-drawing performance of the magnesium + 1.5 pct alloy sheet† over a wide range of temperatures has been investigated by Weber and Vanden Berg,' and their results are presented in Fig I. It should be noted from this work that a maximum drawability of about 25 pct at room temperature has been obtained on this alloy under the conventional deep-drawing operations. For the same alloy, it is now possible to augment the cold drawability to about 40 pct by a process to be disclosed. Hitherto, this value has been obtained only by deep-drawing the alloy at around 230°C. That greater plastic flow is attainable at atmospheric temperatures on magnesium under certain deformational techniques was discovered by the authors6 in their analyses of plastic-deformational behaviors of pure magnesium. This fact is best illustrated in Fig 2 from the Har-greaves analysis6 performed by the authors under two different modes of loading. For direct test, a separate unstrained specimen was used for each load duration, whereas for the integrated test the same specimen was employed for all the five intermittent loadings so that the load duration was made additive throughout the investigation. The higher plastic flow-rate at room temperature, as designated by the Har-greaves constant S, was obtained by the integrated or intermittent loading procedure. The authors6 in further tests showed that, under such a procedure greater plastic flow was also realized with a progressive increase in deformatione 1 loads. These findings have been applicd

Jan 1, 1947

Anticipating the increasing importance of establishing working conditions on a scientific basis, the Department of Labor created the Working Conditions Service. This service is distinct from that performed by the Mediation and Conciliation branch, which deals with working conditions and industrial relations as controversial issues between employers and employees. The work of the Service is conducted through three coordinated divisions; Division of Industrial Hygiene and Medicine, Division of Labor Administration, and Division of Safety Engineering. The Division of Industrial Hygiene and Medicine will develop standards of sanitation and medical practice in industries. The personnel of this Division is detailed from the United States Public Health Service. The Division of Labor Administration will advise employers as to employment systems and labor management policies, and assist in putting into operation standard policies.

Jan 2, 1919

By G. R. Mansfield

THE geologic structure of the Idaho phosphate field has an important bearing on the classifica-tion and the exploitation of the lands that contain phosphate. Maps and structure sections1 recently made available show that the phosphate is mainly preserved in downfolded or downfaulted areas. Since the phos- phate beds are generally rather soft and lie between harder and thicker formations they have been forced to adjust themselves to these formations during epochs of disturbance of the earth's crust, so that they are frequently affected by minor folds and by faults which may help exploitation by producing undue thickness at certain places or may hinder it by cutting out the phosphate at other places where according to expecta-tion it should be present. A particularly important structural feature which affects both the distribution and the exploitation of the phosphate beds is the great Bannock overthrust by which one or more slices or blocks of the earth's crust have been pushed over other blocks like ice cakes on a pond. Thus in this region a great flap of folded rocks lies across other rock structures for a distance of approximately 35 miles. Most of the commercially accessible phosphate deposits, shown in the maps that accompany the report cited, are in this flap, which con-stitutes the upper block of the overthrust. In some places, however, the phosphate in the lower block is also accessible. In both blocks post-phosphate rocks exposed at the surface here and there indicate that phos-phate beds may lie at greater or less depth below. The presence of the Bannock overthrust beneath much of the area reported is known by the occurrence of windows in the upper block both within the quadrangles mapped and in areas farther west. The portions of the lower block exposed in these windows show stratigraphic dis-cordance with the surrounding formations. The depth of the fault plane at most places, however, can be told only by drilling or actual mining. Some of the folds in the upper block are relatively deep and it seems fairly certain that the phosphate that may originally have been present in their deeper parts has been removed by thrust faulting. The estimates of phosphate reserves in folds liable to be affected by the Bannock overthrust may therefore need ultimate revision depending on the depth of this fault plane, as it may subsequently be ascertained.

Jan 1, 1928

By I. Fatt, D. N. Saraf

A method is described for measuring two- and three-phase relative permeabilities in sandstones or sand packs using a nuclear magnetic resonance (NMR) technique to determine fluid saturations. Two- and three-phase relative permeabilities have been determined on Boise sandstone using the NMR technique of saturation measurement. Three-phase relative permeability to water was found to depend only on the water saturation, whereas three-phase permeability to oil depended on both the water and oil saturations. Relative permeability to gas in three-phase flow was found to depend only on the total liquid saturation. INTRODUCTION Three-phase relative permeabilities are extremely useful in calculating field performance for reservoirs being produced by simultaneous water and gas drives. Three-phase relative permeability data are also needed for analyzing solution gas-drive reservoirs which are partially depleted and are being produced by water drive. Some thermal recovery processes involve three-phase flow which require three-phase relative permeability data for predicting reservoir behavior. Unfortunately, three-phase relative permeability measurements have rarely been made. Also, because of the scarcity of three-phase data, it has not been possible to date to relate other measured rock characteristics to the relative permeabilities with a great certainty. Leverett and Lewis,l Reid2 and Snell3 have reported three-phase relative permeability data on unconsolidated sands. Leverett and Lewis used ring electrodes spaced along the length of the sand sample to measure the resistivity of the sample which was assumed to be monotonically related to brine saturation. Gas saturation was determined from pressure-volume measurements. Oil saturation was obtained by material balance on the cell containing the sand sample. This method is involved and time consuming. Another difficulty arises from the fact that the resistivity of the sand is a function not only of saturation of brine but also of the distribution and saturation history of the brine in the pore spaces. Reid2 used a gamma ray absorption technique for measuring liquid saturation. This method has the disadvantage that total liquid saturation rather than oil or brine saturation is all that can be measured and still another method is required to determine the saturations of individual components. snel13 used a neutron bombardment method which also required a separate determination of the individual component saturations. Caudle et al.4 measured three-phase relative permeability on consolidated sandstones using vacuum distillation for determining fluid saturations. Distillation after each reading makes this technique very lengthy and time consuming. Corey et a1. 5 and Naar and Wygal 6 measured three-phase relative permeability on sandstones by the capillary-pressure method. Semipermeable diaphragm assemblies were used at each end of the core specimen to keep the water phase in the core. Gravimetric methods were used to determine fluid saturations. Sarem7 recently reported an unsteady-state method for measuring three-phase relative permeability on sandstones. This method is an extension of Welge's method8 for measuring two-phase relative permeability. Although Sarem's method is simple and comparatively fast, the assumptions involved may oversimplify the problem. Sarem's assumption, that in all rocks relative permeability to each fluid will depend only on the saturation of that fluid, seems to be rather unrealistic. Neglecting capillary effects at the end of the core is also a weak assumption. Donaldson and dean9 measured three-phase relative permeability using a method similar to Sarem's.

By M. ROWE, H. E. Gilliland, L. BARNES

The authors of this paper are to be commended for a clear exposition of a timely subject. However, some important conclusions, in addition to those presented in the paper, can be drawn from the results of their elaborate and rather complete numerical computations. First of all, the major part of the calculations presented in the paper are for semi-infinite slabs of oil shale (the authors designate this as Model I) and a question must be posed — Are these elaborate computations needed to arrive at realistic estimates of the shale oil displaced. Consider the model of Lauwerier* that corresponds to the authors Model I if thermal conduction parallel to the fracture be neglected. If one also neglects the finite (but relatively small) heat capacity of the material in the fracture, it is easily shown from Lauwerier's solution that the cumulative oil production would be:

Jan 1, 1969

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.

By P. E. Fitzgerald

ACIDIZING, as the terns is used in the petroleum production industry, involves the use of hydrochloric acid in predominantly limestone formations, resulting in the lowering of resistance offered to the flow of oil and gas through the oil-bearing formation, usually with resultant increased production. A number of articles have been written on the chemical treatment of oil and gas wells; a bibliography of these works will appear in Volume 123 of the Institute's TRANSACTIONS (1937), and a few other references are appended to this paper.

Jan 1, 1937

By Jasper L. Stuckey

PYROPHYLLITE, first identified as soapstone,1 later as agalmatolite,2 and finally as pyrophyllite,3 has been known to occur in North Carolina for more than 130 years and has been produced intermittently in commercial amounts for the past 100 years. Pyrophyllite mining, however, has become a major industry in North Carolina only during the past 25 years. North Carolina and California are the chief producing states. Current annual production averages 125,000 tons, of which slightly more than 90 pct comes from North Carolina. Distribution and Geologic Setting: All known pyrophyllite deposits in North Carolina are associated with rocks of the Carolina Slate Belt,4 which is composed of a vast series of metamorphosed volcanic and sedimentary materials, occurring as two zones extending in a northeast-southwest direction across the state. The larger of these zones, lying in the central Piedmont region, varies from 8 to 50 miles wide. The smaller zone lies along the eastern edge of the Piedmont region and is partly covered by coastal plain sediments.

Jan 1, 1958

By W. L. Remick

The hydrotator coal-cleaning process was developed as an economic necessity to meet the ever-increasing demand for an inexpensive method of cleaning coal down to the sizes ordinarily referred to as "dust." As the most urgent demand seemed to be in the anthracite field, all experimental work has been conducted in that territory during the past two years, with the exception of a few months during the strike of 1925-26, when some experiments were performed in the Alabama bituminous fields. The first commercial plant was constructed at the Middle Creek Colliery of the Philadelphia & Reading Coal & Iron Co.,. Pottsville, Pa. This plant is now operating. Application The field of application of the process is: 1. Cleaning anthracite fines, ordinarily described as "slush" or "silt." Slush contains all sizes from 3/32 in. down to and including I(dust." (Anthracite passing a 3/32-in. mesh is also referred to as No. 2 Barley and No. 4 Buckwheat.) 2. Cleaning sizes too fine for recovery by other methods. 3. Removal of coal from sand circulated in the Chance sand-flotation process. 4. Cleaning of bituminous sizes from % in. down to "dust." 5. As equipment for the performance of the froth flotation process. 6. Other separating, extraction and washing processes which may be considered outside the realm of coal cleaning. Principle of Operation Fig. 1 shows the method of classification practiced under the Hydrotator patent.' In coal cleaning the machines are operated as "hindered settling" classifiers, the flow of solids and liquids being so controlled that the units may be combined in series.

Jan 1, 1927