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By Thomas R. Stauffer

The principle that conventional schemes for taxing petroleum or mineral resources are "inefficient" is illustrated using simulation calculations tested against an "ideal" system. Inefficiency is defined as the relative success in maximizing expected government revenues from the resources. Most systems fail because: 1) they leave oil in limbo, i.e. unproduced because of excessive fiscal burden; or 2) they unnecessarily increase the variance in the explorationist'c, rate of return by undertaxing large fields and overtaxing smaller but infra-marginal fields. This increases his discount rate and reduces taxable surplus. An "ideal" tax system is specified which maximizes government revenues while minimizing risk to the operator. Two criteria are developed: 1) the tax falls to zero on fields which yield only the minimum necessary rate of return ("marginal" fields); and 2) the after-tax present value of all fields is the same for all fields above a threshhold size. In particular, marginal fields, while contrib- uting little to expected values, do contribute to reducing variance and hence risk praemia by distributing the exploration costs over a higher probability of successful outcomes.

Jan 1, 1982

By Charles Janin

(San Francisco Meeting, October, 1911.) THE first successful bucket-elevator dredge to operate in California was put in commission at Oroville in March, 1898. There had been numerous previous attempts at dredging, but none of the earlier boats proved a success. The gold-miners in California early conceived the idea of a machine to dig gravel from the beds and bars of auriferous streams that were inaccessible by the methods then employed, and it was only a few months after the discovery of gold in California that such a machine was. shipped around Cape Horn from New York to San Francisco. This was, however, but the forerunner of many failures in gold-dredging, and was soon at the bottom of the Sacramento river. During succeeding years many other unsuccessful attempts were made, and it was not until 1897 that a dredge of the single-lift bucket-elevator type was floated on the Yuba river. This dredge was built by the Risdon Iron Works for R. H. Postlethwaite, and would probably have been a success if it had been operated on some of the rich Oroville ground instead of in a turbulent stream, where the dredge was wrecked during a flood, and was not repaired. Fig. 1 is a sketch-map of California, showing gold-dredging areas. It is not my intention to narrate in detail the history of the early failures in gold-dredging, and the various steps in the development of the modern boat, but merely to touch upon this in a general way, and to call attention to the wide difference in capacity and operating-cost between the first successful dredge, with an actual capacity of 600 cu. yd. per day-though its rated capacity was in excess of this-and the present modern dredge with 15-cu. ft. buckets, and an average capacity of 250,000 cu. .yd. per month. Even this enormous capacity has several times been exceeded on monthly runs. The first successful dredges

Mar 1, 1912

By Roland Blanchard

Recent discovery at Mount Isa of copper mineralization in commercial amount at a depth of 1000 ft., coinciding with downward termination of ore at about the same depth within the larger silver-lead-zinc lenses that have been the standby of Mount Isa's production to date, has been cited as an example in support of mineral zoning. A previous paper by the author and Graham Hall1 furnished a detailed description of the geology of the ore at Mount Isa as exposed up to that time, but necessarily dealt mainly with the silver-lead-zinc mineralization. Most of the geologic facts that constitute the first half of the present paper were set forth in the previous one in much greater detail, with full supporting evidence for the facts cited. The large amount of underground development (approximately 20 miles) and the extensive exploration carried out by diamond drilling (100,000 ft.) at Mount Isa, added to extensive microscope work conducted over a period of years, both by the company's staff and by others, had made possible the calculation within fairly close limits of mineralogical composition of the principal mineralized block of ground down to 1000-ft. depth, and had established closely the mineral succession, with reasons for deposition of the various minerals in the patterns now occupied by them. The geologic facts as outlined in the previous paper remain as stated; but because substantial development within the new copper ore body and further exploratory diamond drilling within the new silver-lead-zinc area (Racecourse) have taken place since that paper was written, statements and figures relating to those two areas in the present paper supersede those furnished in the previous one. The recent work likewise has established more clearly the paragenetic relationship between the chalco-pyrite and galena. Evidence confirming the relationship is furnished in the present paper. The facts of ore occurrence at Mount Isa show Accepted Zonal Succession Silver sulphantimonides Galena Sphalerite Tetrahedrite Arsenical sulphides Chalcopyrite Pyrrhotite Mount Isa Succession I In the main but prob- Silver sulphantimonides ably not wholly Tetrahedrite I contemporaneous Galena Pyrrhotite Sphalerite Arsenical sulphides They show further: (I) that instead of the silver-lead minerals yielding to increased zinc in depth, the zinc yields to increased silver-lead; (2) no dovetailing of the silver-lead-zinc sulphides into chalcopyrite takes place; (3) despite the large amount of pyrrhotite deposited in the district (estimated at upward of 100,000,000 tons), its deposition took place under moderately low temperature conditions; (4) no evidence has been found for increase in temperature of deposition, with depth, to deepest exploration in ore (1475 ft.). The anomalous condition at Mount Jsa, both as to the unorthodox mineral succession and the largely unorthodox patteru of mineral distribution, is explained in the present paper,

Jan 1, 1949

By Roland Blanchard

Recent discovery at Mount Isa of copper mineralization in commercial amount at a depth of 1000 ft., coinciding with downward termination of ore at about the same depth within the larger silver-lead-zinc lenses that have been the standby of Mount Isa's production to date, has been cited as an example in support of mineral zoning. A previous paper by the author and Graham Hall1 furnished a detailed description of the geology of the ore at Mount Isa as exposed up to that time, but necessarily dealt mainly with the silver-lead-zinc mineralization. Most of the geologic facts that constitute the first half of the present paper were set forth in the previous one in much greater detail, with full supporting evidence for the facts cited. The large amount of underground development (approximately 20 miles) and the extensive exploration carried out by diamond drilling (100,000 ft.) at Mount Isa, added to extensive microscope work conducted over a period of years, both by the company's staff and by others, had made possible the calculation within fairly close limits of mineralogical composition of the principal mineralized block of ground down to 1000-ft. depth, and had established closely the mineral succession, with reasons for deposition of the various minerals in the patterns now occupied by them. The geologic facts as outlined in the previous paper remain as stated; but because substantial development within the new copper ore body and further exploratory diamond drilling within the new silver-lead-zinc area (Racecourse) have taken place since that paper was written, statements and figures relating to those two areas in the present paper supersede those furnished in the previous one. The recent work likewise has established more clearly the paragenetic relationship between the chalco-pyrite and galena. Evidence confirming the relationship is furnished in the present paper. The facts of ore occurrence at Mount Isa show Accepted Zonal Succession Silver sulphantimonides Galena Sphalerite Tetrahedrite Arsenical sulphides Chalcopyrite Pyrrhotite Mount Isa Succession I In the main but prob- Silver sulphantimonides ably not wholly Tetrahedrite I contemporaneous Galena Pyrrhotite Sphalerite Arsenical sulphides They show further: (I) that instead of the silver-lead minerals yielding to increased zinc in depth, the zinc yields to increased silver-lead; (2) no dovetailing of the silver-lead-zinc sulphides into chalcopyrite takes place; (3) despite the large amount of pyrrhotite deposited in the district (estimated at upward of 100,000,000 tons), its deposition took place under moderately low temperature conditions; (4) no evidence has been found for increase in temperature of deposition, with depth, to deepest exploration in ore (1475 ft.). The anomalous condition at Mount Jsa, both as to the unorthodox mineral succession and the largely unorthodox patteru of mineral distribution, is explained in the present paper,

Jan 1, 1949

Jan 1, 1915

By Mark Eisner

ONE'S JOB is the watershed down which the rest of one's life tends to flow write the Lynds in the first pages of their classic social study, "Middletown in Transition." Certainly engineers will confirm this statement after a check among those in their own profession with whose lives they are at all familiar. I have no hesitancy in acknowledging the truth of their observation for the men and women who are engaged in the profession of the law. It has been often remarked that American public life is overrun with members of the law profession. The highest public office in the land, that of President. has been occupied by lawyers almost to the exclusion of citizens of any of the other professions. Twenty-two Presidents of the United States out of the total of 31, were members of the bar. For the most part, members of Congress, the governors of the states, the state legislators and the mayors and other local leaders, men who occupy important positions of responsibility and public trust, have had legal training. Now this fact is no mere accident. Those who were fitted for the "job" of the practice of the law are favorably placed with respect to their participation in public life. Thus public service and public office is the watershed down which the "lawyer's" life tends to flow.

Jan 1, 1940

McCulloch, Leon.-Experiments with Sherardizing. Discussed by Fred. L. Wolf, Willis M. Peirce, Jesse L. Jones, O. W. Storey, David R. Kellogg, William H. Finkeldey, L. H. Marshall 2 Bassett, W. H. and Davis, C. H.-Spectrum Analysis in an Industrial Laboratory. Discussed by C. S. Brainin, C. H. Davis, W. H. Bassett, George K. Burgess, George K. Elliott, Leonard Waldo, Keivin Burns 8 Roast, Harold J. and Pascoe, Charles F.-Arsenical Bearing Metals. Discussed by Jesse L. Jones, William A. Cowan,. William K. Frank, William M. Corse, Harold J. Roast 10 Bain, Edgar C.-Crystal Structure of Solid Solutions. Discussed by Ancel St. John, Edgar C. Bain, Paul D. Merica 14 Peirce, Willis M.-Studies on the Constitution of Binary Zinc-base Alloys. Discussed by George K. Burgess, Willis M. Peirce, D. H. Ingall, J. L. Haughton, K. E. Bingham 16 Webster, William R.-Application in Rolling of Effects of Carbon, Phosphorus and Manganese on Mechanical Properties of Steel. Discussed by George B. Waterhouse, J. O. Liebig, Ralph H. Sweetser, H. T. Morris, F. D. Carney, W. P. Barba, John H. Nelson, George K. Burgess 19 Barba, W. P. and Howe, Henry M.-Acid Open-hearth Process for Manufacture of Gun Steels and Fine Steels. Discussed by W. J. Priestley, Haakon Styri, C. T. Patterson, Harry Brearley, W. P. Barba, George F. Comstock, Alexander L. Feild 24 Kellogg, David R.-Electrolytic Deposition of Iron for Building up Worn or Undersized Parts. Discussed by Jesse L. Jones, William Blum, C. R. Hayward, George K. Burgess, C. P. Perin, David R. Kellogg 33 McQuaid, H. W. and Elm, E. W.-Effect of Quality of Steel on Case-carburizing Results. Discussed by H. J. French and L. Jordan, W. J. Priestley, M. H. Schmid, A. E. White, H. J. Stagg and S. C. Spalding, Henry S. Rawdon, J. S. Vanick 35 Phillips, Arthur and Davenport, E. S.-Malleableizing of White Cast Iron. Discussed by Samuel Epstein, H. A. Schwartz, A. E. White, R. S. Archer.... 58 Priestley, William J.-Effect of Sulfur and Oxides in Ordnance Steel. Discussed by Harry T. Morris, William J. Priestley, C. P. Perin, James H. Gray, W. P. Barba, Haakon Styri, Frank D. Carney, W. L. Harbrecht, George F. Comstock, E. J. Janitzky 67

Jan 5, 1922

The plans for the activities of the Petroleum Division for the coming year do not differ materially from those of the past several years. The fall meeting is scheduled for Oct. 12 and 13 and is to be held at Tulsa, Oklahoma. The Division, of course, will take part in the annual meeting of the Institute at New York. A fall meeting will also be held in California at approximately the same time as the meeting at Tulsa. A number of papers are to be presented at the two meetings simultaneously. The various committees are at work arranging the programs. The Division will continue to be active in its various fields of endeavor, such as stabilization, production reviews, and economics, but special stress is to be laid on the engineering and research fields. In the past the Division has served as a forum for open and frank discussion of problems confronting the engineers in the oil industry. It is hoped that it will continue to function in this capacity. Papers presenting original ideas and extending the boundaries of knowledge and understanding in the field of petroleum production will be welcomed. Members who have interesting information to contribute should not wait until called upon by one of the Committees, but should offer a paper at the earliest opportunity. The past year has seen a decided strengthening of the control over production, with prospects of even more rigid control in the future. It is essential that production programs under such control be carefully planned and it is highly desirable that petroleum engineers take an active part in the planning, to insure efficient production of oil and minimize the waste of this natural resource. At a time like this, when it is difficult to keep the production of oil within reasonable limits, it may seem unnecessary to improve the efficiency of production methods, but, as has been aptly said, the trouble is not that we have too great a reserve of oil but that we are producing tomorrow's oil today. Therefore it behooves those who are entrusted with the engineering and scientific phases of production to learn how to get the greatest yield economically possible from the present and future fields in order that we may enjoy the advantages of petroleum products for a long time to come.

Jan 1, 1934

ANNUAL meeting of the Woman's Auxiliary of the American Institute of Mining and Metal-lurgical Engineers convened on Tuesday morn-ing, Feb. 20, the president, Mrs. H. W. Hardinge, presiding. President Hardinge, in opening the meet-ing, said: "I have the honor and great pleasure to welcome you to our seventh annual meeting. It has been a happy year, though I started in fear and trembling. My fear is partly gone and my trembling becomes less as time goes on. Never has a chairman had such splendid cooperation and harmony in her work; no. matter how much was asked nor what the task, I have always received the same answer, `We are with you, of course we can do it.' Often the road has been untried and the way full of snares, but we have all pulled together. Is it any wonder we have had a prosperous year? I cannot thank the governing -board and officers enough for their help." Mrs. Hardinge described her trip through the West last summer, during which she visited many of the local sections of the Auxiliary. She also spoke of the work of the Rossiter Raymond memorial library which has been started as an activity of the Woman's Auxiliary. Mrs. Reynders read the minutes of the last annual meeting, and Mrs. Kemp read the treasurer's report. The latter showed that on Feb. 1, 1922, there was a bank balance of $683.61 and on Feb. 10, 1923, the bal-ance was $947.93. Mrs. Westervelt expressed the sorrow of the Auxiliary for the death -of Mrs. Florence Howe Hall and of Mrs. Levi P. Holbrook.

Jan 4, 1923

By CHRIS A. HARTNAGEL

For the second consecutive year, the production of crude petroleum in New York has fallen below the 5,000,000-bbl. Mark that had prevailed previously since 1937. In 1945, the output totaled 4,658,000 bbl., a decrease of slightly more, than one per cent from the 1944 production. This total represents 2 per cent of the stripper-well production of the United States, which in turn is I 3 per cent of the total annual yield of the nation's petroleum.

Jan 1, 1946

By Heinrich Ries

Fullers' earth is a clay-like substance, which has the property of decolorizing or clarifying oils. An ultimate chemical analysis shows it to differ from most ordinary clays in having usually a high percentage of combined water and a low amount of alumina. There is probably a large amount of hydrous silica present. Fullers' earth possesses little or no plasticity, and in order to work properly has to be ground very fine. A chemical analysis is of little value at present in determining its quality; only a practical test suffices. Up to about two years ago all of the fullers' earth used in this country was imported from England; but about that time deposits were discovered in Florida, "† and since then rumors of its occurrence have been coming from all parts of the country. Next to the Florida deposits of fullers' earth, those of South Dakota are the most extensive thus far discovered in this country. The earth was first discovered near Fairburn, Custer county, and other deposits have since been prospected at Argyle, Minnekahta and other localities. Fairburn.—One of the first deposits located and opened up is five miles southeast of Fairburn, Custer county. The mine is a mile from the Fremont, Elkhorn and Missouri Valley Railroad, and the section exposed shows, beginning at the top: Feet. Micaceous sandy clay,......... 6 Fullers' earth,..........9 Micaceous sandstone,......... The fullers' earth passes upwards into the sandy clay, but in its purer portions it is a yellowish, gritty clay, with a somewhat

Jan 1, 1898

By Charles S. Barrett

THERE is a road into the microscopic realm that has remained untraveled through all these years of intense activity with high-power optical and electron microscopy. The road is worthy of careful scouting by metallurgists and other investigators, for it leads into relatively new country and it makes some areas accessible that heretofore could be reached only by very indirect paths or by the use of imagination. And when the road passes through familiar territory it frequently permits a new view of commonplace things that should prove of value from time to time. An accepted way to interest people in new sights such as this is to present an illustrated travelogue. This I propose to do, using many pictures taken in my recent exploration of this road. In the manner of travelogues, I shall touch briefly upon a large number of different subjects in physical metallurgy and shall, attempt to give an exhaustive treatment of none, for the objective is to provide a means for further research, to interest others in it, and to indicate what appears at the moment to be profitable directions for it to take. The method I shall present involves X-rays, but does not make use of the usual accompaniments of X-ray research such as reciprocal lattices, Fourier series, or the stereographic projection. The method is so simple in its fundamentals that it could have been developed 20 years ago, or perhaps even 30 years ago. It is well to have a destination for our travels, so that when we are through we shall have explored some region of importance, despite our preoccupation with the novel means of transportation and our interest in the sights to be seen along the way. So let us name the Cold Worked State as our destination, and make side trips into the territories known as Recovery, Recrystallization, and Precipitation-hardening. A great many investigations have been made of the nature of cold-worked metal, and a great variety of methods used, many of which are indirect, such as X-ray line intensities, X-ray line widths, calorimetric measurements, and magnetic measurements. Since comprehensive reviews of these investigations have been published in recent years, they need not be discussed here. The investigations that were the direct forerunners of the present work should be first mentioned. In 1931 I became interested in the structure of individual spots in X-ray diffraction patterns.1 When a crystal is placed in the narrow pencil of X-rays in a Laue camera, the spots recorded on the film are not always uniformly black, but may have an internal structure. The meaning of this may be understood from Fig. 1, which represents a narrow beam containing X-rays of many wave lengths ("general radiation") penetrating a crystal in the direction of the arrow and forming a pattern on the vertical film at the right.

Jan 1, 1945

By VlNTON H. CLARKE

Diamond-drill blasthole sloping has now been used for a long enough time to permit us to discuss fairly its problems from the ore-breaking angle and to attempt to peer into its future. To do this we have gathered information from many properties through questionnaires. The operators have indicated fairly well in their answers what they think of the method. The many variations of methods have by now been fairly well developed, and performance rates and. mining costs are well established at each property. All this can be laid down on paper with fair completeness. Now. knowing all this, what will the future of the method be? To attempt to look into the future of a mining method immediately brings to light many problems and variables. For instance: why were diamond drills used in the first place? What has the cost trend been? In what type of deposit has the method proved most advantageous? What will the future cost of diamonds be? What are the possible substitutes?

Jan 1, 1949

By ALFREDO INTZAUGARAT, MIGUEL BERRO

During the years 1943 through 1945, there was a decrease in the total oil production in Argentina. In the fields of Comodoro Rivadavia (Chubut Territory) and Mendoza and Salta Provinces, the production obtained was as shown in Table I. The only place where there was a small increase was Plaza Huincul, in the Neuquen Territory and Lunlunta, in the Mendoza Province.

Jan 1, 1946

By Arnold K. Reese

It is not the purpose of the writer to set forth in these notes anything new or surprising in blast-furnace practice, but simply to lay before the Institute the somewhat unusual results obtained during a period of six consecutive months, ending April 30, 1896, at the Dover furnace of the Penn Iron and Coal Co., and to give, with these results, the conditions under which they were obtained, and all figures pertaining to that period. This plant was entirely rebuilt, on thoroughly modern and improved plans, in the spring of 1895, by Frank C. Roberts & Co., of Philadelphia.

Jan 1, 1898

By M. M., Fine

In a laboratory study of grinding and classification' of silica sand, a satisfactory means of producing the medium-fine specification sand desired by producers of flint-glass containers was developed. The best procedure consisted of ball-mill grinding and double classification, which gave a properly sized sand containing less iron than the feed.

Jan 1, 1950

By R. HAYDEN, H. B. HALLOWELL, H. O. Hofman

THE object of refining copper in the reverberatory furnace is to obtain a metal which will have the highest attainable degree of malleability, ductility and electric conductivity, and present at the same time a level surface when it solidifies in the mold after casting. These desirable physical properties are governed by the character of the impurities and the forms in which they are present, by the amount of cuprous oxide retained by the copper, by the quantity of gas held in solid solution, by the casting-temperature, and by the thickness of the casting. The effects of impurities, of cuprous oxide and of gases upon the mechanical properties of copper have been studied by Hampe in his classical paper "Contributions to the Metallurgy of Copper." The most recent research into the effect of metals upon the electrical conductivity of copper is that of Addicks.2 The influence of cuprous oxide upon the electrical conductivity has been investigated by Walker' and Addicks.4 The absorption of gases has received' attention by Hampe,5 Stahl 6 and Heyn.7 The effects of casting-temperature have been noted by Stahl.8

Mar 1, 1907

While coal was mined in New Mexico in 1860, production was on a small scale during the period considered here, and Table 77 contains all the data found. [ ]

Jan 1, 1942

By AIME AIME

FEW indeed are the sections of the country where trained or partly trained workers have not already been hired by a war industry plant or will be within the near future. Yet right in the midst of the heavily industrialized East lies the anthracite area, home of a million people, whose productive power has persistently been by-passed either by private industry or by the Government Plant Site Board. The chief reason given for not locating war plants in the area is that it is not within the strategic zone, but in numerous instances elsewhere this rule has been waived. Furthermore, the anthracite region is well protected on all sides by mountains and is at all points more than 100 miles inland. Continued depression in the anthracite industry and a crippling blow dealt by the war emergency to the production of silk and rayon goods, the chief manufacturing activity of the area, have resulted in a heavy migration, particularly of trained young workers, into near-by industrial areas. At least 50,000 people are currently unemployed, with the likelihood of an increase in coming months, and as many families are on relief.

Jan 1, 1942

By G. F. Comstock

The subject of transverse fissures in steel rails has been discussed very thoroughly in recent years from various points of view and the final opinions expressed may be roughly classified into two groups: That these fissures are the result merely of fatigue of the steel and are independent of the quality of the metal. That the quality of the metal and the mill practice must have something to do with them. The first point of view was most ably and logically presented by J. E. Howard,' and in the discussion of this paper, as well as in several other preceding publications, Dr. P. H. Dudley, Consulting Engineer of the New York Central Lines, has strongly defended the other opinion.2 The steel makers of the country have naturally rallied under Mr. Howard's banner, hoping to place the entire blame for these failures upon the railroads with their high wheel-loads, hard steel, heavy traffic, and sometimes inferior road-bed; while the railroad men, on the other hand, have been busy accumulating statistics and records in the effort to find an actual reason in the rails themselves that would account for the seemingly haphazard occurrence of transverse fissures under varying conditions and at widely separated points. The view that these fissures were due merely to normal fatigue under alternating stresses seemed most reasonable to the writer until quite recently, because from work done in this laboratory, as well as the work of other investigators, of the problem, no structural differences, in the vast majority of cases, were found between metal at the nuclei of transverse fissures and metal at similar positions in the same rails or in other rails that had not developed fissures. Within the last year or two, however, since the method of etching polished sections for the microscope with a oupric chloride solution has been tried systematically on lengthwise sections, passing through the nuclei of transverse fissures, evidence

Jan 1, 1920