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By Wheeler North

THE United Eastern Mining Co.'s property is located in the Oatman, Gold Roads mining district of Mohave County, Ariz. The mine and mill are some 26 mi. (41.8 km.) southwest of Kingman, the nearest railway connection. The ore consists of a mixture of calcite and quartz with some andesite. The values, which are mainly gold, alloyed with approximately 34 per cent., by weight, of silver, are extremely fine so that fine grinding is a most important factor in extraction. The milling process, briefly, consists of single-stage, coarse-crushing, two-stage ball milling in cyanide solution, followed by combined mechanical and air agitation, and by straight counter-current decantation. The Merrill zinc-dust precipitation method is used to recover the values, and is preceded by the Crowe vacuum treatment of the solution. The most notable features of the plant are the absence of filters, and the use of short peb mills loaded with steel balls, for fine grinding. As originally designed, the capacity of the mill was to be 200 tons per day, although the grinding end was to be capable of handling double that amount. By adding extra agitators and thickeners and by some alterations to the grinding end, the daily capacity has been raised to 285 tons. This, it is hoped, may be increased to 300 tons during the warm months of the present year. TONNAGE MILLED PER DAY 1917 average 234 Maximum month 272 Minimum month 146 1918 average 253 Maximum month 276 Minimum month 217 As this article primarily deals with plant operations, those interested in the mechanical description are referred to the article by Mr. Otto Wartenweiler,1 the designing engineer, which gives the details and costs of design and construction. The following changes have been made since that article was published:

Jan 8, 1919

By H. H. Richardson, E. H. Dix

Of all the alloying elements used in commercial aluminum alloys, copper stands out as by far the most important, and it is perhaps for this reason that the constitution of the aluminum-copper system has received the attention of a number of experimenters covering a period of approximately 20 years. It would be expected that during this time the equilibrium relations would have been thoroughly and exactly worked out. In a general way this is true, but there is a surprising lack of agreement in the details of the high aluminum end of the diagram, particularly in regard to the solid solubility of copper in aluminum, which has been given variously as 2 per cent. to 5 per cent. at the eutectic temperature. The importance of this is much greater than might at first appear to one unfamiliar with modern commercial aluminum alloys. This is true because, with one exception, the susceptibility of the strong alloys to heat treatment depends, in part at least, upon the solid solubility relations of copper in aluminum. In 1919, Merica, Waltenberg, and Freeman1 published the first detailed information on these solubility relations. They found that the solubility of copper decreases with falling temperature from about 4 per cent. at 525" C. to about 1 per cent. at 300" C. and is apparently still diminishing at lower temperatures. In 1921 there was published a brief account of the results obtained in the National Physical Laboratory, Teddington, England.2 This laboratory, however, reported that 5 per cent. of copper is soluble in aluminum at 540" C., and that this amount decreases to about 3 per cent. at 20" C. In the same year Ohtani and Hemmi3 reported a solubility of 4.8 per cent. copper at 520" C., 2.6 per cent. at 460" C. and 1.5 per cent. at 420" C.

Jan 1, 1926

Jan 1, 1970

By W. A. Ver Wiebe

Spurred on by the very high demands for new crude supplies resulting from World War 11, the oil men of Kansas strained every effort in 1943 to find as many new pools as possible. In all, 1761 test wells were drilled, ,of which 895 were successful in finding new oil supplies and 32 in finding new gas supplies. The total number of wildcat wells drilled in Kansas was 577, including the so-called "extension wildcats," which are located less than 2 miles from production. As a result of the very determined effort to find new oil reserves, 49 of the wildcat test wells found new oil pools in western Kansas and 7 found new oil pools in eastern Kansas. There were 289 rank wildcat tests, and among these 28 were successful ventures. They are responsible for 26 of the new oil pools recorded for the year and 2 of the new gas pools recorded. The ratio of dry holes to producing wells among such rank wildcats is thus approximately 10 to I (289 dry and 28 good). This compares with a ratio of II: I in 1942 and 6:1 in 1941; the same in 1940 and 5:Iin 1939. With nearly all wells flowing to their maximum economic capacity, the total production for Kansas during 1943 reached a new high; that is, 107,700,000 bbl., compared with 97,000,000 during the previous year. Similarly, the amount of gas sold during 1943 made a new high point on the production curve. The total amount was 122 billion cubic feet, compared with about 98 1/2 billion cubic feet for the year previous. As usual, the large Hugoton field of south- western Kansas accounted for approximately half of the total gas production. Highlights of the Year Despite the fact that 56 new pools were found in Kansas during 1943, it must be admitted that the future reserves of the state have not been increased greatly. Most of the new pools seem to be of minor value, although it is admittedly impossible to gauge the future production of any pool in Kansas with any exactitude. Judging by the later performance of some of the pools found in 1942 and in 1941, less than five of the new pools are likely to make any great contribution to the state's future oil reserves. Taking up the counties of Kansas in alphabetical order, the following statements summarize the highlights of the year. In Graham County, the Morel pool was extended to the southeast and this pool now promises to become one of the important pools of western Kansas. Several of the older wells have already contributed more than I000,000 bbl. of oil, and such a figure is considered very satisfactory in Kansas. In McPherson County, important new reserves were found by persistent drilling in township 17 S., R. I. W., the most northeastern township of the county. Many new wells in older pools and discovery wells in new pools make this region look promising. The Lindsborg pool, which had a sensational revival during 1942, was also extended in a number of directions and has now become a rather large producing area with a fairly high future potential capacity.

Jan 1, 1944

By W. A. Ver Wiebe

Spurred on by the very high demands for new crude supplies resulting from World War 11, the oil men of Kansas strained every effort in 1943 to find as many new pools as possible. In all, 1761 test wells were drilled, ,of which 895 were successful in finding new oil supplies and 32 in finding new gas supplies. The total number of wildcat wells drilled in Kansas was 577, including the so-called "extension wildcats," which are located less than 2 miles from production. As a result of the very determined effort to find new oil reserves, 49 of the wildcat test wells found new oil pools in western Kansas and 7 found new oil pools in eastern Kansas. There were 289 rank wildcat tests, and among these 28 were successful ventures. They are responsible for 26 of the new oil pools recorded for the year and 2 of the new gas pools recorded. The ratio of dry holes to producing wells among such rank wildcats is thus approximately 10 to I (289 dry and 28 good). This compares with a ratio of II: I in 1942 and 6:1 in 1941; the same in 1940 and 5:Iin 1939. With nearly all wells flowing to their maximum economic capacity, the total production for Kansas during 1943 reached a new high; that is, 107,700,000 bbl., compared with 97,000,000 during the previous year. Similarly, the amount of gas sold during 1943 made a new high point on the production curve. The total amount was 122 billion cubic feet, compared with about 98 1/2 billion cubic feet for the year previous. As usual, the large Hugoton field of south- western Kansas accounted for approximately half of the total gas production. Highlights of the Year Despite the fact that 56 new pools were found in Kansas during 1943, it must be admitted that the future reserves of the state have not been increased greatly. Most of the new pools seem to be of minor value, although it is admittedly impossible to gauge the future production of any pool in Kansas with any exactitude. Judging by the later performance of some of the pools found in 1942 and in 1941, less than five of the new pools are likely to make any great contribution to the state's future oil reserves. Taking up the counties of Kansas in alphabetical order, the following statements summarize the highlights of the year. In Graham County, the Morel pool was extended to the southeast and this pool now promises to become one of the important pools of western Kansas. Several of the older wells have already contributed more than I000,000 bbl. of oil, and such a figure is considered very satisfactory in Kansas. In McPherson County, important new reserves were found by persistent drilling in township 17 S., R. I. W., the most northeastern township of the county. Many new wells in older pools and discovery wells in new pools make this region look promising. The Lindsborg pool, which had a sensational revival during 1942, was also extended in a number of directions and has now become a rather large producing area with a fairly high future potential capacity.

Jan 1, 1944

By Frank B. McKune

This is something new in my life. A lot of you men here today I do not know, and some I do know. So if you have any remarks to make, I wish you would give your name and the name of your company. This is the first Acid Meeting which has been held under the auspices of the National Open-Hearth Steel Conference, and I hope it is a success. Whether it is a success or not depends entirely upon the support we get. If it does get good support, I have the idea it will be continued as a regular feature of the National Open-Hearth Steel Conference. We all think we have pretty good practices. But we can all learn and I hope that you, gentlemen, who take issue with the things someone else has said will stand up and give your opinions. Otherwise, the meeting will fall rather flat, and we won't get a great deal out of it; and there will not be enough interest shown by the National Committee to continue to place the meeting on the regular yearly program.

Jan 1, 1940

By A. B. Kinzel

ALTHOUGH the iron-carbon diagram has undergone many changes in the last 20 years, the region below the eutectoid line and up to approxi-mately 1.7 per cent carbon has been little affected. This region is generally considered to consist of cementite and ferrite. Graphite has been noted occasionally in the hypereutectoid steel region, and the ready formation of graphite nodules in malleable cast iron is a phenomenon difficult to interpret in the light of cementite, supposedly stable at sub-eutectoid temperatures. In this case the graphite formation has been partly explained by the presence of silicon, and many have believed that silicon acts to change the stable state rather than to accelerate reactions so as to arrive at the stable state in a briefer period of time. Consider-ation of this phenomenon indicates that cementite is not the stable phase in the temperature composition zone referred to. In the course of examining a low-carbon steel tube taken from a petroleum cracking still, which had been in service for approximately three years at temperatures somewhat below the eutectoid temperature, observations were made that shed light on this entire subject. The tube in question analyzed:1 C, 0.15 per cent; Mn, 0.49; Si, 0.02; S, 0.023; P, 0.015. The microstructure of the tube after service is shown in Figs. 1 and 2. From these it is evident that cementite as such is absent, and that in its place nodular graphite has been formed. In order to check this observation further, samples taken from the tube were heated at 850° C. for varying periods of time. The small samples were put into a large hot furnace, and the total time is recorded. The structure of the

Jan 1, 1934

NEW- MEMBERS The following list comprises the names of those persons who became members during the period Feb. 10, 1917 to Mar. 10, 1917. ANDERSON, .LAWRENCE W., Min. Engr., Boston Mine, Utah Copper Co. Bingham, Utah. AUSTIN, JOHN W., Assayer, Magma Copper Co., P. 0. Box 101, Superior, Ariz. BARNARD, C. W., Treas. and Resident Mgr., Arizona Asbestos Assn., Globe, Ariz. BIERMAN, A. C : Geol., Producers Oil Co., Box 75, Houston, Tex. BOCHERT, W. C., Prof. of Mining, South Dakota State School of Mines, Rapid City, So. Dak. BROOKS, FLOYD R., Shift Boss, Mond Nickel Co., Ltd., Worthington, Ont., Can. BROWN, CECIL J., Draftsman &,Surveyor, Wallaroo SC Moonta Min. & Smelt. Co., Wallaroo, South Australia. BURRAGE, ALBERT C., Vice-Pres., Chile Copper Co., 85 Amos Bldg.; Boston, Mass. BURGESS, JOHN ALBERT Genl. Supt., United Eastern Min. Co., Oatman, Ariz. CARLOCK, JOHN BRUCE, Supt., O'Neall Oil Process Co., - 608 Haas Bldg., Los Angeles, Cal. CARPENTER, BYRON H., Min. Engr., . . Willoughby, Ohio.

Jan 4, 1917

By C. K. Leith, W. J. NEAD

(Glen Summit Meeting, June, 1911.) . ONE Of the most significant developments in the iron industry in recent years has been the discovery and opening of enormous reserves of low-grade ore in eastern and northeastern Cuba. The two principal fields are the Mayari and the Moa, situated on Nipe bay, in the Province of Oriente. A less well-known district of the same type is that of Baracoa, at the east of the island, and another is in Camaguey province in central Cuba. In the comprehensive estimates of the iron-ore reserves of the world, published during the summer of 1910 by the International Geological Congress in Sweden,' these Cuban deposits are estimated at about 2,000,000,000 tons. Certain it is that the reserve is a large one. The Spanish-American Iron Co., the Juragua Iron Co. (Bethlehem Steel Co.), the U. S. Steel Corporation, and others have been active in this exploration.. The Spanish-American Iron Co. has established a port for the handling of these ores at Felton, has built a railway 16 miles to the ore-fields, and has opened up deposits for steam-shovel mining. Its expenditures have reached an aggregate of about $6,000,000 in preparation for the handling of these ores. Shipment of the ore to Sparrow's Point, Md., has begun and may be expected to rise to a considerable amount in the near future. The ore reaches this point at a cost per unit of iron considerably lower than Lake Superior ores, and the presence of a low percentage of nickel gives a desirable steel. It is not the purpose of this article to consider these ores from a commercial stand-point, but rather to discuss their-origin. If our conclusions are correct, they throw light on the character of the deposits which should have some commercial significance. 1 The Iron Ore Resources of the World, an inquiry made upon the initiative of the Executive Committee of the Eleventh International Geological Congress, Stockholm, vol. ii., p. 795 (1910).

Mar 1, 1911

AT the fall meeting of the Iron and Steel Division, Oct. 4, 1934, in New York, a symposium was held on Slag Control in the Making of Iron and Steel. The chairman was J. H. Nead and the vice chairman, G. B. Waterhouse. The latter presided at both morning and afternoon sessions. The papers and discussions were presented in the order in which they appear on the following pages. To meet space requirements, much of this material has been considerably condensed. CONTENTS [ ]

Jan 1, 1935

By AIME AIME

QUALITY and size do not ordinarily go hand in hand, but there is good evidence that both these attributes reached a new peak at the Annual Meeting of the Institute in New York just concluded. Certainly, the total attendance of 2500 was far above any yet attained, as might be expected with the recent rapid growth of Institute member- ship. General comment indicates that the quality of the papers also was notable, though not measurable by so definite a yardstick as attendance. During the meeting 49 technical sessions were held, at which more than 250 formal papers were presented. In addition, there were some thirty special meetings of committees, Divisions, and other Institute groups. In reporting the Annual Meeting eleven years ago the statement was made that "unless the Engineering Societies should build for themselves a new building it is probable that no meeting can be larger," and "the fifth floor, where a buffet lunch is served each day, has reached its full capacity and it seems quite evident that any future development of Institute meetings must be along the lines of quality, not size." Unfortunately the angel to succeed Andrew Carnegie, who financed the building of the present home of the Institute 35 years ago, has not yet ' appeared. Even if some one would merely build another elevator or two in the present building it would help. Fortunately, the modern auditorium of the American Radiator & Standard

Jan 1, 1940

By Edwin Ludlow

T HE OPEN FORUM on this subject called by Mr. Hoover at the recent meeting of the Institute' brought out a large number of very able papers, and a very full discussion of all the problems involved. The criticisms of the bituminous industry were: 1. That it was over-developed with the possible output nearly 50 per cent. in excess of the present requirements; that during the summer there were plenty of cars and no orders, and during the winter there were plenty of orders but no cars. 2. That the mines were not properly developed from an engineering standpoint, and that the recovery of the coal varies from 50 per cent. to 95 per cent. 3. That this industry, employing over 600,000 men, could, if running full time, release 100,000 men for other work. 4. That the studies made by the engineers of the Fuel Administration showed that the cost of production increased with a loss of time and that with a 50 per cent. operation the increase in cost was about 40 per cent.

Jan 1, 1920

By J. H. Westbrook, R. W. Guard

The influence of a number of alloying additions on the structure and hardness of Ni3Al (?') has been studied. Three general effects have been observed.. solid-solution hardening, strain aging, and defect hardening arising from deviations from stoichiometry. The solid-solution hardening phenomena are complicated relative to binary terminal solid solutions due to the possibility of virtually independent substitution for the component elements and to the concomitant effects of strain aging. In many superior nickel-base high-temperature alloys the elevated temperature strength is attributable to the presence of a dispersion of Ni3A1 (?') in a solid-solution matrix. Examples of such alloys are Inconel X-550, Inco 713, Waspalloy, and Nimonic 80. It is, therefore, appropriate to seek a further understanding of the properties and alloying behavior of this compound. Ni3Al, the compound most rich in nickel in the nickel-aluminum binary system, was first detected by litakal but not established with certainty until the much later studies of Bradley and Taylor' and Alexander and Vaughan.3 More recently the mechanism of formation was clarified by Floyd4 who showed that Ni3Al is the product of a peritectic reaction at 1395°C between the melt and the compound NiAl in agreement with the original suggestion of Alexander and Vaughan.3 Ni3Al has the ordered face-centered-cubic or Cu3Au structure in which the nickel atoms occupy the face centers and the aluminum atoms the cube corners, a0 = 3.570A. Despite earlier reports to the contrary. the compound apparently remains ordered at least to 1000oC.5 It exists over a narrow range of compositions (-3 pct wide) whose limits and temperature dependencies thereof have been reviewed recently by Taylor and Floyd.' Most previous workers have found Ni3Al to be both hard and brittle7,8 although Maxwell and Grala8 obtained 2.5 to 6 pct tensile elongation at room temperature and Alexander and vaughan3 described the material as "hard and tough" on the basis of observations made while preparing metallographic specimens. In a recent study one of the present authors found that although considerable intergranu-lar brittleness was evident: individual grains of a coarse-grained inert atmosphere arc-melted specimen were readily deformable.l0 The same study also showed Ni3Al to have an anomalous temperature dependence of hardness in that such a curve exhibits a number of peaks between room temperature and 800°C which could not be associated with any microscopically observable precipitation reactions or polymorphic transformations. It was, therefore, proposed in the present study to elucidate the anomalous high-temperature strength behavior and to examine the solid-solution alloying of this compound and the effects of such alloying on hardness. Sample Preparation and Experimental Procedure-Samples, both of pure Ni,Al and of various alloyed solid solutions based on Ni3Al, were prepared by arc melting 100-g buttons in an inert atmosphere arc furnace. All buttons were heat treated for 4 hr at 1275oC and examined metallographically for homogeneity. Microstructures were typically homogeneous and single phase with ASTM grain size about 1 and unusually clean grain boundaries. Chemical analyses showed good correspondence (within a few tenths of a percent) with intended compositions. Microindentation hardness data were obtained from room temperature to 800°C in vacuo using a balanced-beam type loading system in an instrument to be described in detail elsewhere." In general a 100-g load, a loading rate of 1 mm per min and an indentation time of 15 sec were used. Various indenter materials were used according to the materials bein tested because of specimen-indenter interaction. Fl Measurements of the Vickers-type indentations were made at room temperature. Hardness-temperature curves were run at least twice on each sample to ensure that surface work-hardening effects had been eliminated." Precision lattice-parameter measurements were made on powder samples using a back-reflection

Jan 1, 1960

By David White

ATTENTION has been given to the sources and supply of the raw vegetal matter and. the conditions of its submission to the process of sedimentation. An original and most valuable review has been made of the more important or significant chemical compounds originally contained in the organic debris, and of the biochemical changes-undergone by the latter during deposition. Consideration also has been given to the factors controlling the selective biochemical decomposition, in whole or in part, of :this debris, and the deposition, as, sediments, of the undecomposed plant structures and compounds, together with more or less of the so-called "ulmic," or "humic," organic decomposition products in colloidal solution.1 BIOCHEMICAL CHANGES END IN PEAT FORMATION The biochemical process terminates in the peat stage of coal formation, and with the cessation of this process organic sedimentation is completed. All subsequent changes result from geological causes and conditions. The deposits are in the form of peats of different types, organic muds, oozes, etc. They are essentially uncompressed and are wholly unconsolidated, and their water content is great, amounting to over 85 per cent. near the surface of the deposit. Many of the chemical compounds remain as in the once living organisms; others are biochemically broken down and new ones formed.

Jan 2, 1925

By R. V. Norris

The anthracite coal trade, with a shipment averaging about 70,000,000 tons per year, differs essentially from other coal business, iii the fact that the larger sizes, comprising about 65 per cent. of the total, are used almost exclusively for domestic purposes, principally during the winter months; and that for proper combustion close-sizing is imperative, so that eight sizes are made; broken, egg, stove, and nut, known as prepared sizes, and pea, buckwheat, rice, and barley, known as steam sizes. These sizes are made in the regular course of preparation, and but little variation in the natural percentage of each is practicable. Thus it is necessary either to work the collieries intermittently, or to dispose of all the varying sizes in their fixed proportions. Unfortunately, the market does not at all times absorb the coal in proper proportions, and rather than interfere with the regular operation of the mines it has been found economical to provide storage for the excess. While the cellars of' the consumers are the great storage-plants of the country, this capacity is not under the control of the trade, except so far as reduced prices during the spring and summer months may tempt the use of this reserve. The same remark applies but with less force to the retail yards, which, though usually small, store in the aggregate a large amount of anthracite. While every effort is made to utilize to the utmost the individual storage-capacity of the country, there still remains the necessity for taking care of the irregularities of the market by the construction of storage-plants under the direct control of the producers. Such plants are usually the property of the railroads, and are situated at points most convenient from a traffic stand-point.

Jan 1, 1912

By Alexander B. Morris

Studies such as the investigations into the solubility of gases in crude oil under various conditions, which have been carried on during the past three or four years, are very interesting from an academic point of view, but this consideration alone is hardly sufficient to warrant the large contributions from the industry necessary to maintain them. Some definite benefit to the industry as a whole should be forthcoming. The purpose of this paper is to direct the attention of company engineers, and company executives, to some of the ways in which the information gained from these studies can be made directly profitable. This work has two principal economic aspects. One affects the investment budget, and through it the financial requirements of the companies. The other affects operations, and through this course is reflected in current earnings. It will be shown that, as a direct result of the investigations into gas solubility, undertaken in the recent past by various investigators, it is now possible: 1. To determine more accurately the amount of reservoir oil originally present. 2. To obtain closer control on operating conditions, to effect more economical recovery. 3. To predict earlier and more dependably when and how much surface lifting equipment will be needed. 4. To reduce, or entirely avoid the very large investment in gasoline recovery equipment now frequently found necessary. 5. To control the gravity of the pipe-line oil so as to secure the greatest possible revenue from the products of the well. 6. To effect the recovery of a large amount of gasoline now wasted while the practicability of a gasoline recovery system is being decided. 7. To plan operations, by comparison with the history of old properties operated without this new information, so as to avoid the mistakes of ignorance made in the past. These points will be discussed in the following pages, though not necessarily in the order stated. There is so much overlapping of the points themselves, and of the data from which they have been drawn as conclusions, that to treat them in any particular order would require

Jan 1, 1935

By W. W. Norton

The gradually increasing proportion of sulphide ores which lead smelters of to-day are called upon to handle has caused the roasting problem to become one of ever greater importance. Mines have increased in depth, methods of concentration have improved, competition in the purchase of ores has become more keen and it has been clear that new and modern methods of eliminating sulphur must receive a large share of attention. We may look back a score of years or so and recall the old hand roasters, some of which turned out a finely divided roasted product, and others fashioned with a "fuse-box" wherein the roasted ore was slagged. Then came mechanical furnaces of several types, the Bruckner cylinder, the Brown-O'Harra, the Ropp, and others, all designed to cut out the cumbersome hand labor of the old reverberatories. Roasting costs were thereupon reduced and tonnages stimulated to a gratifying extent. However, it seems to have been early recognized that this very feature of a greater amount of roasted sulphide ore as compared with oxide ore brought with it a train of difficulties at the blast furnaces. The mechanically roasted ore was fine physically, the blast furnaces were choked and the troubles of the smelterman were not at an end. Then the Huntington-Heberlein pot system of roasting appeared upon the scene, and later on the Dwight-Lloyd machines were invented, and inasmuch as both of these processes were designed not only to roast the ore but to agglomerate it as well, it was apparent that distinct steps in advance had been achieved. At the Murray plant, modern up-to-date roasting practice is fully exemplified and there are now in successful operation roasting furnaces or devices of several sorts: namely, Godfrey revolving-hearth furnaces, Wedge multiple-hearth mechanical roasters, Dwight-Lloyd sintering machines, and Huntington-Heberlein pots. Godfrey and Wedge furnaces will properly handle material high in sulphur, say ores with 25, 30, and 35 per cent. of that element; D. & L. machines and H. & H. pots will positively not treat efficiently ores or mixtures containing anywhere near the sulphur content mentioned, but are confined to charges containing in the neighborhood of 15 or 18 per cent. In passing, it may also be explained that, so far as the knowledge of the writer goes, Godfrey and Wedge furnaces do not economically eliminate sulphur to an extent

Jan 1, 1915

By T. S. Blair

I feel a certain sense of responsibility in bringing before you the subject of the direct process in iron manufacture. I am aware that, in such a body as I have now the honor of addressing, there are few who are not already so well informed upon its past history that it would be a weariness to them to listen to anything else than an account of practical success. Yet, to claim that success involves so much that, if I do not make good my claim, I deservedly expose myself to severe criticism. The whole literature of the art, so far as it relates to the direct process, is, up to this time, but a history of failure. It is safe to say that more money, time, and talent have been fruitlessly spent in the pursuit of this object than in all the other unsuccessful efforts in the whole line of iron metallurgy. A distinguished authority in patent law has remarked that " the invention records of the United States and of foreign countries are filled with the waifs and abandoned relics of these abortive struggles." Dr. Percy, whose great work may be taken as an epitome of all that was worth mention, whether useful or curious, in pig-iron metallurgy, up to the date of its publication (1864), after giving elaborate accounts of various attempts at the direct process, condenses his own opinion of all that had been then effected, into a brief but summary comment upon a pamphlet of one of the sanguine inventors who had said: "It is evident that the present mode of working iron

By Forest Mintz

Many oil and gas producers find it advantageous to borrow against the value of their hydrocarbon re- serves. This paper considers the requirements for a reserve based loan and the calculations that a bank would perform to arrive at a loan amount. Three of the most common loan structures, i.e. a term loan, a production payment, and a revolving credit/term loan will be discussed. A typical outline for each type of loan is presented. Finally, a comparison of major considerations in the three financing techniques is shown.

Jan 1, 1982

By John Tyssowski

IN 1925, Harry Howard Stout, then metallurgist for Phelps Dodge Corporation, while investigating the cleaning of cathode copper by various gases at elevated temper-atures below the melting point of the metal, observed in the laboratory that particles of pure copper heated in a closed tube filled with hydrogen seemingly "stuck together." By further investigation he found that there was actual crystal growth across the boundaries of the particles of pure metal; in other words, there was a complete new crystal realignment and growth throughout the newly formed copper mass. It was coalescence, not adhesion; the several parti-cles had become one unit. From this dis-covery has been developed the coalescence process, whereby copper of cathode purity is squirted out in semifabricated form from an extrusion press, by the appli-cation of about 30c0 tons pressure on a 10-in. piston. Stout decided that cathode copper pro-duced by electrolytic deposition was the logical source of the pure copper required for the coalescence process, but as there was no way of reducing the ordinary tough commercial cathodes to the small particles required he was confronted by a serious problem at the outset. Under his direction, this problem was solved by William H, Osborn and Harry Howard Stout, Jr. They developed the process and technique for producing cathode copper in brittle, friable form, and to them must be given the greater part of the credit for this phase of the development program as well as for that relating to the gas cleaning of the cathode particles.

Jan 1, 1940