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By L. C. Kern

This paper presents information on the use of a new propping agent (malleable aluminum particles) which has been used successfully for producing high-conductivity fractures. The conductivity of a packed fracture depends on the width of the fracture as well as the permeability of the propping material. It is significant that the flow capacity of a propped crack is often increased many fold by propping the crack with a sparse distribution of particles. However, the flow capacity of a sparsely propped crack can be limited by two phenomena: (I) crushing of the propping particles, and (2) embedment of the propping particles in the formation walls. Malleable aluminum particles exhibit interesting properties which tend to overcome these limitations. As high loads are applied to the particles they will deform slightly, rather than shattering. The deformation results in a greater bearing area against the formation wall. This reduces the stress on the particle and reduces particle penetration into the formation. The behavior of aluminum particles under load and the bearing capacities of serveral formation rocks have been measured in the laboratory. By properly using these data, as explained in this paper, the flow capacities of aluminum-propped cracks can be calculated for a variety of conditions. Aluminum particles have been used successfully in the field to prop fractures. Where high-conductivity fractures were needed, the aluminum-propped fractures have given greater well stimulation than could have been expected for conventional fracturing processes. INTRODUCTION The purpose of a hydraulic fracture treatment is to create a conductive channel from the wellbore out into the oil or gas formation. The word conductive is emphasized because we believe that the fracture conductivity (flow capacity) is one of the most important factors influencing fracturing results. Previous papers have pointed out the additional well stimulation that can sometimes be achieved by increasing fracture conductivity. Several years ago, we investigated in some detail the effect of fracture conductivity on productivity increases to be expeced from vertical fractures. Both electrical analog and theoretical studies of unsteady-state flow behavior were made. A discussion of the electrical analog equipment and some of the results of the study were given in a previous paper' by Dyes, Kemp and Caudle. Further details were given recently by McGuire and Sikora.5 Fig. 1 shows the remarkable influence of relative fracture flow capacity and length on well stimulation. Briefly, the study indicates the following. 1. High-permeability formations require high-conductivity cracks for best results. 2. The longer the crack, the higher the fracture conductivity required for best results. 3. If the conductivity of the crack is very large compared to the formation (i.e., flow is not being limited by crack conductivity), then the longer the fracture, the better will be the results. Judging from recently published articles,1,314 there is current interest in methods for obtaining high fracture conductivities. Hence, we would like to present in this paper a discussion of a new fracture propping process (use of aluminum particle) which we have used successfully to obtain highly conductive fractures. There are several factors which influence the conductivity of a propped crack. Conventional fracturing techniques frequently result in a crack completely packed with fracturing sand. For such conditions, the crack conductivity is the product of the width of the packed fracture and the permeability of the propping material. It is significant that a large increase in conductivity sometimes can be obtained by propping with particles which are distributed sparsely (less than a

By H. L. Stone, A. O. Garder

A numerical method of solving the partial differential equations which describe the one-dimensional displacement of oil by gas has been presented. Possible extension of the method to treat multidimensional flow is discussed, and the limitations of this extension are indicated. Using this method, it is possible to allow for the existence of a gas cap, the presence of any number of gas-injection or oil-production wells and the evolution of dissolved gas from the oil. It is also possible to allow for variation in the cross-sectional area, elevation, porosity and permeability of the reservoir. The influence of relative permeability and the force of gravity in the direction of flow upon the displacement is considered. The influence of capillary pressure upon the flow and the effect of gravity in the direction perpendicular to flow are neglected. The physical properties 01 the fluids are considered to be Junctions of pressure only, and equilibrium between contiguous phases is assumed. The numerical calculations can be readily carried out by the use of a digital computer. Several example analyses have been performed using the IBM 704 computer, and about one-third of an hour of computing time was required per case. Reservoir behavior predicted by use of this numerical method was compared to data obtained by other methods for three cases — complete pressure maintenance, dissolved-gas drive and gas-cap drive. The independent solutions to these problems were obtained by analytical solution, laboratory experiment and field data, respectively. Agreement of the numerical solution with data from these sources was good; this agreement establishes the convergence and accuracy of the numerical method. INTRODUCTION Most petroleum reservoirs can be produced by any one of several alternative programs. When a reservoir is produced by primary methods, production economics can be influenced by controlling the number and location of wells and the flow rate of each well. An even greater influence may be achieved by augmenting the recovery of oil obtainable by primary methods. This can be accomplished by injection of fluids such as water, natural or enriched gas or a bank of light liquid hydrocarbons. Selection of the most desirable operation requires a means of predicting the reservoir behavior which will result from each of the several alternative programs. The purpose of this paper is to present a mathematical method for predicting the behavior of reservoirs produced by gas-cap drive, dissolved-gas drive or pressure maintenance by gas injection. The method described herein takes cognizance of phase changes caused by a decline or an increase (due to gas injection) in reservoir pressure, of the presence of a gas cap and of the effect of gravity on the flow of gas and oil. Relative permeability relationships are used to define the flow properties of the rock. Allowance is made for variation in cross-sectional area, elevation, permeability and porosity of the reservoir. Both the influence of capillary pressure upon the flow and pressure gradients in the gas cap are neglected. Whenever a liquid phase and a gas phase are in contact, they are assumed to be in equilibrium. The physical properties of the fluids are considered to be functions of pressure only. Therefore, if the method is to be used to predict the effects of a gas-injection program, mixtures of the injected gas and formation crude should-have the same physical properties as mixtures of formation gas and crude. The equations to be presented in this paper apply only to a one-dimensional case; therefore, they neglect the influence of gravity in the direction transverse to the flow. As is well known, this gravitational influence may lead to overriding of oil by gas. Consequently, this procedure as presented is most applicable to long, thin reservoirs for which gravity overriding is not important. On the other hand, the equations presented can be generalized to treat multidimensional flow and, hence, to consider gravity overriding, if desired. A word of caution on two points is advisable here, however. First, the authors have not demonstrated the accuracy of the numerical technique for multidimensional flow. Second, and more important, capillary pressure will often be of importance in multidimensional problems. Obviously, in such cases a generalization of the

By Oscar E. Harder

THE TERM "physical metallurgy' is used in the title of this lecture in preference to "metallography ?because the former has a broader meaning with most audiences, some people thinking of the latter as being limited to work with the microscope. This distinction, how- ever, has not been held by the out- standing workers in the field of metallography, such as the late Professor Sauveur. In the broadest sense metallography is essentially the same as physical metallurgy. The American Society for Testing Materials has adopted-the following definition: "Metallography is that branch of science which relates to the constitution and structure, and their relation to the properties of metals and alloys." This definition might be improved by adding after "properties" -"and their industrial and scientific uses." Metallography has also been defined as the science of metals and alloys. Physical metallurgy is to be distinguished from process metallurgy in that the latter relates particularly to the production of metals from the ores.

Jan 1, 1940

By Hsun Hu, R. S. Cline

A detailed studj) of texture formation in 2 pet Al-Fe single crystals with initial orientations of approximately (111) [112], (112) [111], and (112) [111] was made by examining the textures developed on the surface and at various interior sections of the crystal after rolling to various amounts. Depending' upon the initial orientation of the crystal, the surface and interior textures may differ only in sharpness, or may differ essentially in orientation. The orientation of the (111) [112] crystal does not change upon rolling up to 70 pet, but after rolling more than 90 pet a distinct component of (001) (110] orientation is developed. The texture formed in the two (112) (1111 type crystals consists of (111) (1121 and (001) (1101 components. The latter, however, is largely confined to the surface layers. The textures formed on both sides of the crystal are identical, and the texture composition profile is approximately symmetrical with respect to the central section of the strip thickness. The formation of these texture components is analyzed. DURING the past seven or eight years, deformation and recrystallization textures in rolled Si-Fe single crystals have been extensively studied by various investigators.1-7 From these studies, much knowledge on texture formation in bee crystals of various initial orientations was obtained. However, these results also raised many questions, regarding particularly the correlation between deformation and recrystallization textures, as well as the deformation texture itself of some particular crystals. To take a (111) [112] type crystal as an example, it was shown by Dunn and Koh2, 3 that this orientation does not change during deformation by rolling. This finding is consistent with the conclusion reached by Barrett and Leven-son8 with respect to iron crystals that (111) [112] is one of the stable end orientations. However, different recrystallization textures were observed by Dunn and Koh3 in (111) [112] type crystals of different initial thickness, which widened differently during rolling even though their deformation textures were identical. Another interesting example, also from the results of Dunn and Koh2'3 is that of texture formation in a (112) [111] crystal. This crystal developed a two-component deformation texture of (111) [112] plus (001) [110]. Its recrystallization texture, however, was found to be predominantly (110) [001], which is related to the (111) [112] component by a simple [110] rotation. This crystal, therefore, behaved as if the other deformation texture component, (001) [110], were not present. There are also discrepancies among the results of different investigators, as well as numerous unexplained fine features of the deformation texture of crystals of various initial orientations. In order to have a better understanding of all of these points, a detailed study of deformation textures is greatly needed. One of the obvious things that has been completely overlooked in previous texture studies is the possible effect of surface texture. All past work on the texture of Si-Fe single crystals was conducted in a rather simple manner, i.e., the rolled crystals were etched to a very thin sheet; then their textures were examined by transmission X-ray techniques. For recrystallization texture studies, unless precautions are taken by etching off a sufficient amount of the surface layer before annealing, the texture developed in the interior may be affected by the surface layer, which may well have a different initial texture and which may have undergone recrystallization earlier than the interior of the specimen. Because of this effect, it is now planned to reexamine the texture of various rolled and annealed single crystals at the surface, and at various sections below the surface by using reflection techniques. In some cases, both surfaces of the rolled crystal will be examined. In one of Dunn's early papers,9 he noted that at an early stage of rolling the crystal seems to divide roughly through the middle to become a sample which in effect consists of two layers having some what different orientations. This effect has never been further explored. The investigation described in the present paper constitutes the beginning of a series of thorough investigations of texture formation in deformed bee single crystals designed to clear up some of the uncertainties which have been discussed. We have chosen a high-purity 2 pet Al-Fe alloy for this investigation. It is known that the allotropic transformation of iron is eliminated by alloying with approximately 1petAl. Such an alloy, being very similar to silicon ferrite, can be heated to the solidus temperature without phase transformation. One reason for choosing A1-Fe instead of Si-Fe for the present investigation is that we have been able to make single crystals of a vacuum-melted high-purity A1-Fe alloy by the strain-anneal method without much difficulty, but were not successful in doing so with a vacuum-melted high-purity Si-Fe alloy. For many research purposes,

Jan 1, 1962

By J. L. Giove, J. M. Hodge, R. G. Storm

The hardenability effect of molybdenum has been evaluated by a number of investigators, including one of the present authors.1,2,3,4,6 Considerable discreMncy exists, however, among the results of these various investigators, and two of them, Brophy3 and Kramer,4 have indicated that the apparent hardenability effect of molybdenun would vary, depending upon the other alloying elements in the steels being considered. The results of previous, unpublished work conducted at the Duquesne Works Laboratory of the Carnegie-Illinois Steel Corporation also have indicated significant differences in the hardenability effect of molybdenu~n in nickel and in chromium steels. The present investigation was undertaken in an effort to establish the mechanism governing this difference in the hardenability effect of molybdenum. This work involved both end-quench hardenability and isothermal transformation tests on two series of steels of varying molybdenum content. One steel contained 3 pct nickel and the other 1 pct chromium. It was hoped that such studies would shed further light on the mechanism of this behavior. Materials and Experimental Work MATERIALS The chemical compositions of the steels used in this investigation arc shown in Table 1. These steels were furnished by Battelle Memorial Institutc in the form of 100-lb induction furnace ingots. The top half of each ingot was forged to 1 3/8-in. square billets and then rolled to I-in. round bar stock for isothermal transforma- tion studies. The bottom half of each ingot was forged into approximately 1 1/4-in. rounds for end quench tests. All of the steels were normalized from 1650°F and tempered at 1100°F before nlachming to end quench or isothermal samples. END-QUENCH TESTS standard l-in. diam end-quench tests were made on each of the steels. The test bars were austenitized at 1600°F for 30 min,, quenched in a standard Jominy jig, and hardness surveys were made in all tests. The 95 pct martensite point was deterInined from hardness values5 and cheeked by metallographic examination. The jominy distance values for 95 pct martensite were converted to hardellability values in terms of ideal diameter (Dl), using a revised carve for the relationship between Jominy distance and ideal diameter. This curve was based on the cooling time from the A1 to the bainite nose temperatures rather than on the usual criterion of half-temperature time. The cooling rates as determined by Russell and Williamson9 were used as a basis for this relationship. The derivation of this curve is described in detail in the appendix. ISOTHERMAL TRANSFORMATION STUDIES Samples for the isothermal transformation studies were quarter sectors of 1/16.is-in. thick slices from the 1-in. round bars. All samples were austenitized for a total the of 15 min., transferred rapidly to a lead bath for isothermal transformation, and brine quenched from the lead bath. A time of 3 see was allowed for the sample to come to the temperature of the lead bath, and this time was not included in the isothermal transformation times. Each sample was examined metallo-graphically at a magnification of 100 diam. The per cent transformation was estimated by comparison with standard micrographs, and the values were plotted against the on log/log coordinate paper. At least 4 and as Inany as 10. points were plotted for each steel. A line was drawn through the points for each steel, and the times for 5 pct transformation were obtained from the plot for each steel. Isothermal transformation diagrams in terms of 5 pet total transformation, covering the temperature range of 800 to 1200°F, were determined in this manner for an austenitizing temperature of 1600°F. The times for 5 pct transformation at the bainite nose for austenitizing temperatures of 1800 and 2000°F were also determined in the same manner. These times for 5 pct total transfor-

Jan 1, 1950

By E. A. Holbrook

IN view of what has happened in - the past three years, it seems incredible that industrial corporations continue to write to engineering and mines schools for "promising members of the graduating class," or, indeed, that they even send representatives to the colleges to interview engineering graduates. Certainly, by this time, every company should be aware of the fact that recent engineering graduates are almost nonexistent and the number is not likely to increase within the next several years. At the February, 1945, annual meeting of the Local Section delegates of the A.I.M.E. in New York, W. B. Plank, professor of mining engineering at Lafayette College, summarized well the situation of the colleges by titling his talk "The Lost Generation of Engineers."

Jan 1, 1945

By Paul Hunt

UP to June, 1923, the Park-Utah mine had shipped about 94,000 tons of a direet-smelting ore of a gross value of $4,200,000, or about $45. a ton. These values were in gold and silver only, although the ore carried small amounts of lead, copper and zinc. Freight, treatment and deductions had averaged $15.40 a ton. At the expiration of the Pittman Silver Act there was in sight about 30,000 tons of a similar ore with a gross value of about $15 a ton in gold and silver, and a large body of partly developed lead-zinc ore of a gross value of about $20 a ton, 40 per cent. of which was represented by the lead-zinc content and the balance by the silver and gold. Mine costs had been high during the life of the Pittman Act, but as a large part of the profits had gone into equipment of the mine and the orebodies were large and had good walls, we knew that mine costs could be greatly reduced. We were therefore faced by the necessity of getting lower freight and smelter rates or of concentrating the ore. We did obtain better freight rates on lower grade ore, and a favorable smelting rate on the small tonnage of siliccous silver-gold ore, but this smelter rate could not be applied to the lead-zinc ore with any profit to ourselves. The Judge mill of the Park City Mining & Smelting Co., with which we were affiliated, was running to capacity; if we built our own mill it ineant a 5-mile freight haul to a satisfactory millsite and a year's delay. Fortunately, the International Sillelting Co. had just inherited a mill at Tooele which, with some changes, was about double the catpscity required for its own ores. Flotation tests were run on Park-Utah ore and a contract entered into with a low base treatment charge per ton, the tariff being largely fixed by the metallurgical deductions. This contract has been admirably calculated so that the miner can follow a lean orenbody to its limit. Such a procedure has no doubt made it difficult for the smelting company at times, but it has resulted in finding ore extensions that otherwise might have been missed, so In the long run it has profited too. A flat rate per ton would have been like mining up to the claim endlines in a great many of the stopes. In order to offer such a contract it can be inferred that the smelting company must have been able to make high reeoveries and high-grade products on a very lean ore.

Jan 1, 1928

Jan 1, 1936

By LIONEL E. BOOTH

ORE tests are made for the purpose of determining the correct methods of treatment for any particular ore. They should be conducted so as to insure that the results obtained in actual mill practice, on ore of similar grade and physical nature, will duplicate the results obtained in the test work. As the expenditure of many thousand of dollars may be involved in the building of the necessary mill, the testing of ores calls for extreme care and skill in handling laboratory machines, and a knowledge of actual practice to guard against the danger of obtaining results in test work that would be impractical to duplicate on a commercial scale. The importance of a correct sample of the ore is at once apparent. No matter with what degree of care the test 4rk is done, it loses its value when made on an unrepresentative sample. It is the first safeguard against future disappointments in the loss of capital and time. A number of failures in the past have been traced directly to faulty or lax methods in obtaining the ore sample.

Jan 1, 1924

By G. Pizzi, G. M. Ciucci, G. L. Chierici

The use of the material balance equation to estimate the volume of hydrocarbons originally present in a reservoir, whose producing mechanism is partly due to water drive, has been discussed in the literature by several authors. There is no general agreement upon the possibility of obtaining reliable results by this method. Gas reservoirs in contact with an active aquifer are considered in this paper. Theoretical considerations based on the cybernetic principle of uncertainty (which states that the internal structure of a system cannot be uniquely determined from its observed external behavior) lead to the conclusion that the volume of gas originally present in a reservoir of this type cannot be uniquely determined from its past history. The range of values which encompasses the actual value of the reserves varies from case to case and must be determined by either numerical or analogical methods. Results obtained for six gas fields are reported. All these fields were produced with small fluctuations in their production rates, as is common practice for gas reservoirs; no gas storage fields were considered. Results obtained show that reserves values in a range of 1 to 2, associated with appropriate aquifers, allow the matching of the reservoir past history with mean-square deviations less than the experimental errors involved in pressure and produclion measurements. Similar results have been found in several other partial water drive gas reservoirs. From these results it is concluded that gas reserves cannot be uniquely determined from the past performance of partial water drive reservoirs, at least in cases where the reservoir has been submitted to small fluctuations in the production rates, and pressure data of normal accuracy are available. INTRODUCTION A number of authors have analyzed the problem of estimating the reserves originally present in a partial water drive reservoir from its past pressure-production performance. Literature which deals with this subject can be grouped, according to their conclusions, as follows. 1. A reliable value for the reserves can be obtained even if reservoir data (pressure and cumulative production) are affected by errors within the normal range.'-' 2. A reliable value for the reserves can be obtained only if reservoir data are very accurate'- or if past production performance has been subjected to abrupt variations in the production rate."' 3. No unique value for the reserves can be obtained from reservoir past production performance. This conclusion has been based upon theoretical considerations" and verified in several field cases. The purpose of this paper, which deals only with partial water drive gas reservoirs, is to test the above conclusions against actual field cases. Some theoretical considerations on this problem are also presented. THEORETICAL CONSIDERATIONS As the behavior of a gas reservoir communicating with an aquifer depends on both the aquifer and the reservoir characteristics, the physical system to be studied is the combined gas reservoir plus aquifer. The information which is available for studying the performance of such a system is the well production rates and bottom-hole pressures, all given as functions of time. The external behavior of the reservoir-aquifer system is therefore described by 2n input variables (Gp, Wp,) and n output variables (p,), n being the number of wells in the reservoir. In reservoir engineering it is common practice to consider the reservoir as a whole, disregarding the internal distribution of pressures and of producing wells. This practice is equivalent to substituting the above multi-variable system with a single-variable system, where the average reservoir pressure is the only output variable and the cumulative production G,(t) and W,(t) are the input variables. The internal structure of such a system, defined by initial gas reserves G, aquifer shape and dimensions, boundary conditions and petrophysical parameters distribution throughout the aquifer, is unknown. Therefore, from a cybernetic point of view the system is a "black-box It has been demonstrated" that for a blackbox the indetermination principle holds. Accordingly, the number of different internal structures (or set of parameters) which can account for the observed external behavior is infinite. As a consequence, the initial reserves cannot be uniquely determined from the reservoir past performance. When W,(t) is known, the determination of G from

By Walter C. Smith

THE Cerro de Pasco Copper Corp. began to produce bismuth at the Oroya smelter in 1929, at which time the only important consumption of that metal was in the manufacture, of pharmaceutical compounds, and the normal supply of metal exceeded the demand. With a new and major producer entering the field, additional uses for bismuth had to be developed. A survey indicated that the most promising opportunity lay in fusible alloys containing bismuth. A large number of bismuth alloys were known and a few of them were being used in the manufacture of automatic sprinkler heads and safety plugs. The literature cover in,- the- alloys was found to be sketchy and contradictory. Research, development, and educational work carrried on by the Corporation during the past fifteen years has resulted in greatly enlarged uses for the metal. In general the low-melting bismuth alloys are of high specific gravity, relatively soft, of low tensile strength, brittle to shock, yet subject to plastic

Jan 1, 1945

By Harold Margolin, W. R. Hibbard, R. W. Fenn, H. P. Moore

Deformation lines, also called etch markings or strain markings, are non-effaceable lines developed in individual grains by etching a metal specimen which has been cold worked sufficiently to cause atomic non-conformity or slight orientation differences within the grains. Etching occurs more rapidly at these lines of high chemical reactivity to produce a result similar to that revealing grain boundaries. Wider etching effects forming bands have been found. They are believed to be bands of deformation lines which form areas of measurably different orientation from the crystal matrix. The crystallite rotations causing these bands have been shown by Barrett2 to contribute to deformation textures. Although deformation lines have been observed in many metals, the amount of deformation requireti for their appearance has been established only in general terms. Mathewson and Phillips3 observed the first appearance of deformation lines in cold-rolled alpha brass at about 20 pct reduction in thickness using the standard ammonium hydroxide hydrogen peroxide etchant. Price and Davidson4 noted defor- mation lines in common high brass after 26.5 pct reduction by cold rolling using the same etchant. Johnson6 observed dark thick forklike lines in 99.99 pct pure copper reduced 31.8 pct. Adcock6 observed deformation lines in 80-20 copper-nickel alloy rolled 50 pct. Samans7 found no deformation lines in alpha brass single crystals cold rolled 9.5 pct but they did appear after 25 pct reduction using ammonium hydroxide and hydrogen peroxide etchant. Barrett and Levenson8 observed deformation bands in drawn polycrystalline iron at very small reductions in area and noted that their initial appearance perhaps depends on grain size and other conditions. They reported deformation bands in a single crystal of iron reduced 6 pct by drawing. Brickg noted that deformation lines in 70-30 brass apparently associated with I I I I ) planes appeared after reductions of from 20-50 pct by cold rolling. Brick and Williamson10 noted that in single crystals of 70-30 alpha brass "as in polycrystalline brass, no deformation markings appeared until reductions exceeded 20 pct." Cook and Richards" reported that in Copper cold rolled less than about 50 Pet few strain markings were apparent but for higher reductions many strain markings appeared transverse to the rolled direction. In a review article Brick and Phillips12 noted that previous studies had not shown deformation lines in cold rolled alpha brass below 20 pet reduction and added that 4

Jan 1, 1949

By H. P. Moore, R. W. Fenn, Harold Margolin, W. R. Hibbard

Deformation lines, also called etch markings or strain markings, are non-effaceable lines developed in individual grains by etching a metal specimen which has been cold worked sufficiently to cause atomic non-conformity or slight orientation differences within the grains. Etching occurs more rapidly at these lines of high chemical reactivity to produce a result similar to that revealing grain boundaries. Wider etching effects forming bands have been found. They are believed to be bands of deformation lines which form areas of measurably different orientation from the crystal matrix. The crystallite rotations causing these bands have been shown by Barrett2 to contribute to deformation textures. Although deformation lines have been observed in many metals, the amount of deformation requireti for their appearance has been established only in general terms. Mathewson and Phillips3 observed the first appearance of deformation lines in cold-rolled alpha brass at about 20 pct reduction in thickness using the standard ammonium hydroxide hydrogen peroxide etchant. Price and Davidson4 noted defor- mation lines in common high brass after 26.5 pct reduction by cold rolling using the same etchant. Johnson6 observed dark thick forklike lines in 99.99 pct pure copper reduced 31.8 pct. Adcock6 observed deformation lines in 80-20 copper-nickel alloy rolled 50 pct. Samans7 found no deformation lines in alpha brass single crystals cold rolled 9.5 pct but they did appear after 25 pct reduction using ammonium hydroxide and hydrogen peroxide etchant. Barrett and Levenson8 observed deformation bands in drawn polycrystalline iron at very small reductions in area and noted that their initial appearance perhaps depends on grain size and other conditions. They reported deformation bands in a single crystal of iron reduced 6 pct by drawing. Brickg noted that deformation lines in 70-30 brass apparently associated with I I I I ) planes appeared after reductions of from 20-50 pct by cold rolling. Brick and Williamson10 noted that in single crystals of 70-30 alpha brass "as in polycrystalline brass, no deformation markings appeared until reductions exceeded 20 pct." Cook and Richards" reported that in Copper cold rolled less than about 50 Pet few strain markings were apparent but for higher reductions many strain markings appeared transverse to the rolled direction. In a review article Brick and Phillips12 noted that previous studies had not shown deformation lines in cold rolled alpha brass below 20 pet reduction and added that 4

Jan 1, 1949

By Carl L. Renzoni

INTRODUCTION This paper defines equity as the issuance of a permanent interest in the business on a broadly distributed basis. As such, it excludes the issuance of equity to either a merchant bank or to another corporation. Nearly twenty years ago the equity markets were very simple: The instruments used were primarily common shares, convertible debentures or convertible preferred shares. Another equity-type option often used, especially by junior companies, was the sale of joint venture interests. Issue sizes were generally in the order of $25 - $100 million and issues were syndicated primarily in North America and Europe by one or two investment dealers. Mining corporations today benefit from a market with much more depth. Issues are syndicated by dealers on a truly international basis, and issue sizes now often range up to $300 million. Moreover, dealers are now willing to take significant risk in buying the issues for redistribution. This discussion of trends in equity markets will encompass: 1) common shares 2) warrants to buy common shares 3) convertible debentures 4) commodity backed instruments A review follows of events that affect the mining industry and investment dealers as they have a bearing on the equity markets for the metal producers. FACTORS AFFECTING THE MINING INDUSTRY The current business cycle, up to October 1987, had been characterised by a buoyant stock market and depressed base metal prices. Mining companies entered this period with weak balance sheets and little prospect of cash flows meeting capital needs. The issuance of equity and the sale of assets were used extensively to reduce debt to manageable levels. During this period, the relative high price for gold, and more important, the very high earnings and cash flow multiples afforded to gold producers, caused companies to target gold as the only game in town. The need for capital to acquire and develop gold properties prompted an unprecedented volume of equity issues. (Burns Fry led or co-managed over $1 billion of mining equity issues per year during this period). This high demand for equity capital by the industry prompted an increase in the use of equity instruments, such as commodity backed instruments. In addition, government tax incentive programs in Canada, such as flow-through shares, allowed smaller companies to raise significantly more equity than would otherwise have been possible. Over $1 billion in flow-through equity was raised in 1987 alone. The abundance of flow-through capital in Canada made it easy to form a new company. One flow-through share fund developed a system of providing the working capital required for a company to be eligible to receive flow-through share capital so that an entrepreneur required only a mining property to get started. Many new companies were formed and several flourished in a buoyant stock market environment to the point that market capitalizations grew to $100 million or more. The current period is in stark contrast to that before October 1987. The equity markets are generally available to the resource industry only on a window basis and only for senior companies and for special situations. The industry is benefitting from buoyant metal prices, and bankers are anxious to provide debt capital. Investment dealers previously processing several equity issues

Jan 1, 1990

By E. M. Wise

THE properties required of gold alloys for jewelry are not well standardized, due in part to problems peculiar to certain branches of the jewelry industry, in part to the individual preference of the fabricator and to his willingness to cope with certain difficulties in manufacture, which arise with the use of certain alloys. GENERAL REQUIREMENTS In general, the properties desired may be classed as follows: 1. Color should conform to the dictates of good taste and smart style. 2. Corrosion resistance and tarnish resistance should be good. This is to a considerable extent determined by the carat. Resistance to such corrosive agents as mercuric chloride as well as certain depilatories is unreasonable to expect and difficult to meet. 3. Strength and hardness must be adequate to maintain the delicate contours of finely modeled jewelry. 4. Wear resistance must be great enough to resist abnormal wear, such as is encountered by a wedding ring in a lifetime of wear. 5. Ductility must be sufficient to permit the fabrication of drawn shells, tubes and difficult shapes. Material having a yield point of not less than 60,000 lb. per sq. in., an ultimate strength of 100,000 lb. per sq. in., and an elongation of 40 per cent. is desirable. 6. Melting point should be between 800° and 1200° C.

Jan 1, 1928

By W. H. Class

The embrittling effects of oxygen, ozone, nitrogen, air, and surface residues, on NaCl has been investigated. The embrittlement by ozone and oxygen was found to be associated with the formation of a NaClO3 surface compound. In these cases the initial crack that was responsible for fracture (in a bend test) always nucleated at the corners between the tension and side faces. The behavior of air was very erratic and on certain days did not produce enzbrittlement. During these periods, crystals that had become embrittled by the ozone treatment completely recovered their ductility after a short exposure to the ambient atmosphere, It was established many years ago1 that considerable ductility could be obtained in NaCl single-crystal specimens if the crystal surfaces were dissolved in water either during or immediately prior to the test. The original interpretation of this effect by Joffe attributed the enhanced ductility to the removal of surface microcracks by dissolution. Later investigations2'3 have suggested that the exclusion of air from the specimen surface is the criterion for extensive plastic flow prior to fracture. The air em-brittlement in this later work was attributed to the diffusion of gaseous atoms into the surface layers of the crystal, thereby impeding the movement of dislocations. This model satisfactorily accounts for the reembrittlement observed after further air exposure subsequent to the water dissolution treatment. However, the situation has recently become more complex by the observations in several laboratories4-t that under certain conditions air exposure does not impair the ductility of NaC1. It has also been recognized5 that improper drying operations after water dissolution can leave surface precipitates that lead to embrittlement. Cleavage defects on as-cleaved crystals can often be another source of embrittlement. In the present work the effect of the gaseous atmospheres nitrogen, argon, air, oxygen, and ozone, on the ductility of rock salt was studied extensively. The embrittlement resulting from oxygen and ozone exposures was found to be associated with the formation of a NaC1O3 surface film. It is suggested that certain atmospheres, one of which often can be ambient air, which inhibit the formation or favor the decomposition of this compound, can promote ductility. Thus one aspect of the Joffe effect is certainly related to the removal of surface compounds or complexes by water dissolution. The effect of surface precipitates that remain after drying operations and of cleavage defects were also studied. In neither of the latter cases was the embrittlement as severe as that found with a NaClO3 surface layer. PROCEDURE AND SPECIMEN PREPARATION The nature of the embrittlement produced by the agents mentioned above was studied by means of microscopy, mechanical testing, and X-ray diffraction. Specimens were cleaved from large crystals of optical quality sodium chloride obtained from the Harshaw Chemical Co., and, except for those tested in the as-cleaved condition, were given a 15- to 20-sec immersion in distilled water followed by a rinse in absolute methyl alcohol. The specimens were then blotted on a soft, absorbent paper, and dried by a few seconds exposure to a stream of warm, dry air. Such a procedure was found to give a control surface which was microscopically free of residues. (A few crystals were intentionally painted with a concentrated NaCl solution in order to investigate the effect of surface residues). All specimens were of 0.140 sq in. cross-section. Crystals prepared in the above manner were immediately placed in a gas train where they could be exposed to the desired gases for preselected periods of time. For the oxygen and nitrogen exposures, pure reagent-grade gases were employed. The ozone was provided in the form of an ozone-oxygen mixture (approximately 10 pct ozone) prepared by passing commercial grade oxygen over a strong ultraviolet light source. All gases were dried prior to their introduction into the train. Since argon was found to be completely inert in its behavior (i.e., residue-free specimens that were exposed to argon were not embrittled), it was periodically utilized to check the control specimen surfaces as well as the condition of the gas train used for aging the specimens. After exposure to the gaseous media in question, the crystals to be used for the measurement of the strain to fracture were transferred from the gas train to a protective oil bath (without further exposure to the atmosphere) where the tests were conducted in three-point bending. The apparatus was so adjusted that the load could be applied at a constant, continuous rate. Other Snecimens from the gas train were deformed

Jan 1, 1962

By T. Wasson

The same limitations' that characterized 1931 existed in the old fields of Indiana and Illinois during 1932. Prices remained low. The average for the year for Illinois and southwestern Indiana was $1.032 as against $0.852 for 1931 and $1.616 for 1930. In September a curtailment of production of about 25 per cent became effective and was continued to the end of the year. There were no new discoveries and very little wildcatting was done. Considering the age of the wells, and the number still producing, there were few abandonments. The most outstanding thing about the old fields in these states is their long continued productivity. Illinois The fields along the southeast end of the LaSalle anticline had their peak of 33,686,000 bbl. in 1908. In 1932, with a 25 per cent restriction for 355 months, these fields produced 4,661,000 bb1.l There were 52 new completions (most of them in old territory) and of these 33 were dry, 8 were gas, and 11 were oil wells. The new oil wells had a total initial of 102 bbl., or an average of 9.3 bbl. per well. Nineteen of the new producers were in Crawford County. There were about 200 wells abandoned in the old southeast fields in 1932 as compared to 210 in 1931. The greatest number, 86, were in Lawrence County. To the end of 1932, the four major counties—Clark, Crawford, Lawrence and Wabash—had produced almost 394,000,000 bbl. from 92,160 acres. Better than one-half of this was produced in Lawrence County from 26,240 acres. The Dupo area of Sinclair County had no additions to production although four wells were drilled. On the Jacksonville structure in Morgan County, six gas wells with an average depth of 300 ft. were drilled to sands in the base of the Pennsylvanian. They produced an open-flow total initial of 2,000,000 cu. ft. This gas will be developed further to supply a local market.

Jan 1, 1933

By Raymond M. Howe

Additional data have been secured on the disintegration of furnace linings and the spalling of stove brick. The first article on the disintegration of furnace linings appears to have been written by John Pattinson in 1876.l The furnace involved was 85 ft. (25.0 m.) higher and 27 ft. (8.2 m.) in diameter at the boshes; after being in blast five years, the top brick became contaminated with carbon and disintegrated. An examination of the lining showed that the discolored, disintegrated brick were in a zone found from 35 to 67 ft. (10.6 to 20.4 m.) above the hearth; immediately below, in a zone extending from 22 to 40 ft. (6.7 to 12.1 m.) above the hearth, the brick were hard and porcelain-like in appearance. Analyses of samples taken from the different sections are given in Table I. The water-soluble portion found in the sample taken 39 ft. (11.8 m.) above the hearth had a composition approximately as follows: silica, 0.50 per cent.; lime, 0.04 per cent.; potash, 0.78 per cent.; soda, 0.20 per cent.; potassium chloride, 6.19 per cent.; moisture, 1.03 per cent.; total, 8.74 per cent. The carbon Table 1.—-Analyses of Samples Taken from Diferent Sections of Furnace . I ii In Iv v Section 67 Section 45 Seotion 39 Section of Original ft Above ft above ft above vitrified Lining Hearth Hearth Hearth Portion Per Cent. per Cent per Cent per cent. per Cent Silica........................... 55.70 55.60 55.67 47.60 37.07, Alumina........................ 35.50 35.40 30.00 26.47 23.18 Ferric oxide..................... 3.00 1.32 0.96 Lime........................... 0.23 0.06 0.17 Magnesia....................... 1.22 0.95 0.86 0.00 Potash......................... 2.60 2.10 5.30 7.54 21.59 Soda.........,.................. 0.45 0.42 1.67 0-76 6.28 Ca1bon ......................... 2.05 3.24 5.97 Carbon dioxide.................................. 2.. 17 Water...................................... 7.70 Water-soluble........................... 8.74

Jan 1, 1920

By Percival Roberts

I DESIRE to present this evening a few notes from the standpoint of a manufacturer upon the subject of tests of iron for structural purposes; not that I have any new facts to which to call your attention, but rather a statement of a few of the objectionable features of the present modes of operation, showing the absolute necessity of important and very radical changes. At the present time, as most of you are well aware, proposals for materials are accompanied by certain specifications as to quality and tests to which the manufactured article must conform. Evolved in many cases from the inner consciousness of some one more expert in theory than in practice, we find a few of the specifications to be good, many bad, and some indifferent. Appended are specimens of specifications of the most prominent engineers and railroad companies, which may be taken as representing the best and most intelligently framed specifications which we now have, arid yet in some pints scarcely satisfactory, owing to misunderstanding of tests as now made. To show the very varied opinions held as to proper quality of iron for bridge-work, I give the tests of two lots of fron made by inspectors with the results, which were referred to the maker with the following commensts : Lot No. 1. Teat of Iron for Eyebars. Reduced area. Elongation. Size. Per cent. Per cent. Breaking load. 4" x 1 3/8 26 25 68,500 Bent 120° around 1 1/2" bar with fracture. Reduced area. Elongation. Size. Percent. Percent. Breaking load. 6" x 1 7/15 24 24 48,820 Bent 110° around 2" bar. This iron should bend 180° without fracture, and is therefore rejected. Lot No. 2. Test of Iron for Brirlye. All measurements taken upon a parallel section of 10". Iron for tension members. Breaking load Elongation. size. per aquare inch. Percent. 1 5/8 49,600 20 14 61,600 27

Jan 1, 1882

By F. F. Hintze

Petroleum production in the Rocky Mountain district during 1929 registered a small decline from that of the previous year, conforming with a gradual decrease in the amount of oil produced during the last few years. A number of causes may be mentioned to account for this result, chiefly overproduction in other regions and the apparent desire of operators in this territory to conform to the policy of proration and retrenchment adopted by special agreement among operators in many of the fields. Unit operation has been adopted to control oil production from the Sundance sands in the Salt Creek field, Wyoming, in line with the general effort to stabilize this phase of the industry and prevent excessive drilling of new wells. Another factor which greatly retarded development in the Rocky Mountain region was the executive order of President Hoover issued in March refusing the award of new prospecting permits to future applicants and threatening cancellation of all existing permits upon which actual drilling had not been done as specified by law. Only four states in the Rocky Mountain region are important oil producers. In 1929 Wyoming led with an average daily output of 52,600 bbl., followed by Montana, with 10,730 bbl.; Colorado, with 6500 bbl., and New Mexico with 2700 bbl. daily average. These states bear the following percentage relation to total production in the Rocky Mountain district: Wyoming, 72; Montana, 15; Colorado, 9; New Mexico, 4., (Table 1.) The total average daily production was approximately 73,000 bbl. and the total production of all four states during the year was 26,534,606 bbl. This is 2.7 per cent. of the total oil production of the United States during this period. Colorado Although Colorado is not a large producer of oil and natural gas, its oil operations are widely distributed over the state. The Florence field is one of the oldest oil fields in the country, and there are good reasons for believing that the state will retain its place for many years to

Jan 1, 1930