Large Purchases Research Articles

Is there any hope for agriculture in California's rapid growth areas?

The experience of San Diego County, California, indicates that none of the commonly used legislative methods of preserving valuable agricultural land (large lot zoning, differential taxation, purchase or transfer of development rights, creation of exclusive agricultural districts) may be successful in very rapidly urbanizing metropolitan areas. Unless a local municipality can purchase the land outright, the profits to be made from selling greatly appreciated suburban land for development will tempt even the most dedicated farmer to sell and seek out less vulnerable land elsewhere. Steps such as large lot zoning need to be taken early to keep large blocks of agricultural land intact, the retention of these lands must be made part of a mandatory rather than a voluntary program in order to be successful, and the local jurisdictions must be sure that adequate economic incentives are available for those persons who do wish to continue farming the land.

A Scientific Study of Pencil Lead Components

Abstract The term “lead” pencil is a misnomer in that the pencil contains no lead but rather is composed of three primary ingredients in varying proportions: graphites, clays, and waxes [1]. Since its introduction during the 16th century, the pencil has become the most widely used writing instrument throughout the world. Americans yearly consume over two billion pencils, with the U.S. government and Bell Telephone System being the largest purchasers. It has been reported that enough pencils are produced every year in the United States to supply every American with one pencil every 40 days.

The measurement of acceptability differences between brands of convenience products sold as dry mixes

SummaryHedonic scale tests using adult member panels to screen brands of three product types for use in schools, indicated that significant acceptability differences attributable to brand occurred with chocolate and strawberry desserts but not with creme caramel. Subsequent investigations in two schools with panels of eighty‐four children confirmed the preliminary findings.The study indicated that important acceptability differences between brands of similar products exist and that hedonic scale testing with small panels on single occasions can be used to screen products by large scale food purchasers for decision making purposes.

A Bayesian Model of Demand for Information about Product Quality

WHENEVER THERE IS UNCERTAINTY about product quality a consumer may benefit from obtaining information about the performance of commodities; indeed the choice of what information to purchase becomes an essential part of the consumption decision. Consumers acquire information from a variety of sources. For some commodities it is possible to test small amounts of a product before making a large purchase; taking a test drive in a car is an example. In other cases information is gathered informally from acquaintances. In yet other instances, information is supplied by newspapers, magazines and consumer information organizations. Regardless of the method used to collect information, the acquisition process is usually costly, sometimes in terms of time and often in terms of money. When the consumer makes the decision to purchase information he weighs these costs against the benefits of being informed. The purpose of this paper is to develop a theory which explains consumer expenditures for product quality information. The theory is related to the neoclassical consumer theory but differs from it in several critical respects. There are important reasons why the standard consumer theory is inappropriate for the study of information demand. The primary reason is that information is fundamentally different from other commodities, and the difference is crucial. Consumers demand most other commodities for the desirable attributes they possess, whereas information possesses none of these attributeS. A consumer purchases information because it helps him to make better purchases. The demand for information is therefore a derived demand that only arises when product quality is uncertain. These special features of information may give rise to demand behavior quite different from that usually observed for commodities. Since the neoclassical theory cannot be interpreted to incorporate the special features of information it is unable to explain the unique properties of information demand. The theory presented in this paper should also be constrasted to Stigler's early contribution [10] to the economic theory of information. Stigler investigated consumer demand for information about prices of products. He did not treat the demand for information about product quality. Nor is it possible to simply extend his analysis to explain consumer demand for product quality information. The demands for the two types of information arise for different reasons

Accroissement de la propriété paysanne et développement de l'exploitation moyenne

The peasant landownership has increased in the Châtillonnais for forty years. The peasants gained this landownership upon all kinds of non peasant landowners. The two main groups of non peasant ladowners. The two main groups of non peasant landowners are the foUowing : first darks and member of the working class who are the heirs of their family estates and sell during the all studied period. Owing to their large land purchases, the peasants gained the first place on the land market. The cost of this practice is very high. The middle sized farmers are the main purchasers. By this way they help on the poorer farmers disappearing and stop the development of large sized farmers who use wage-earning workers. But they get into debt and are in difficulties. In order to improve their position some farmers' unions ask for a land- ownership rights reform : they want a control on lease contracts, and a continity of the non peasant landownership under their own control on land using.

The changing role of the institution in health care. The 1970 Harvey Cushing oration.

✓ The dramatic changes in institutional health care since Harvey Cushing's era are reviewed by the director of the American Hospital Association, and predictions made concerning the even greater changes in the years ahead. The author sees the hospital's role in health care as growing rather than diminishing and urges the medical profession to actively shape its future. He calls outmoded the concept of the hospital as a set of walls but believes its influence must spread into all segments of heath care. Its role as the guarantor of the quality of care must likewise be spread, and he believes that the traditional fee-for-service solo practice will not be acceptable to the large purchasers of health care except in those instances where there is a close physical and organizational tie to the central institution, the hospital. He asks in view of the importance of the hospital, that those who work in it and for it should look to see if the traditional organizational pattern of our voluntary hospital can meet the demands to be placed upon it by such sophisticated purchasers as Blue Cross, insurance, and government. He foresees increasing adoption of the straight-line organization in the hospital rather than the orthodox triad of governing board, medical staff, and administration.

Communist China's Trade Relations with Latin America

Research Article| September 01 1970 Communist China's Trade Relations with Latin America George Ginsburgs, George Ginsburgs Search for other works by this author on: This Site PubMed Google Scholar Arthur Stahnke Arthur Stahnke Search for other works by this author on: This Site PubMed Google Scholar Far Eastern Survey (1941) 10 (9): 803–819. https://doi.org/10.2307/2643031 Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Share Icon Share Facebook Twitter LinkedIn MailTo Tools Icon Tools Get Permissions Cite Icon Cite Search Site Citation George Ginsburgs, Arthur Stahnke; Communist China's Trade Relations with Latin America. Far Eastern Survey 19 May 1941; 10 (9): 803–819. doi: https://doi.org/10.2307/2643031 Download citation file: Ris (Zotero) Reference Manager EasyBib Bookends Mendeley Papers EndNote RefWorks BibTex toolbar search Search Dropdown Menu toolbar search search input Search input auto suggest filter your search All ContentAsian Survey Search This content is only available via PDF. Copyright 1970 Regents of the University of California Article PDF first page preview Close Modal You do not currently have access to this content.

Completion Practices and Techniques in Deep Gas Producers of the Delaware Basin

Abstract In the past 5 years more than 80 of the deepest wells in the world have been drilled below 20,000 ft in the Delaware basin of West Texas. Most of these wells have been tremendous gas producers and have required some extraordinary completion procedures. The main factors causing completion problems are depth, pressure, temperature, high producing rates, and extensive stimulation treatments. Pronounced changes in tubing length (as much as 22 ft within a few hours) are caused by temperature and pressure fluctuations that occur between treating and flowing. Presented are equations to calculate elongation and shortening, and a graph to calculate expansion. Described and discussed are a widely used typical completion as well as some newer completion practices. A recently developed well completion tool, the production "packer bore" receptacle, is described. Introduction In the past 5 years some of the deepest producing wells in the world have been completed in the Delaware basin of West Texas. More than 80 wells deeper than 20,000 ft, and another 50 ranging from 16,000 to 19,000 ft have been drilled. Extreme depth, high pressure, high temperature, high production rates, and extensive stimulation treatments production rates, and extensive stimulation treatments present problems in completing these deep wells. Completions present problems in completing these deep wells. Completions at over 20,000 ft are not routine and demand extensive study to handle future delivery and re-entry requirements. Large Acid Treatments Usually, high-rate, high-pressure acid treatments make better wells in the Delaware basin. Most deep producing gas wells are treated in this manner. The pay zone porosity usually is distributed over 1,000 to 1,600 ft of porosity usually is distributed over 1,000 to 1,600 ft of lime or dolomite. Adequate treatments of each zone of porosity require relatively large amounts of acid. Optimum results usually are obtained with treatments totalling about 25,000 gal. However, some treatments have been made using over 200,000 gal. To achieve a satisfactory penetration distance past the wellbore, the acid must be retarded and should be injected at relatively high rates. Retardation is extremely difficult at the temperatures (250 to 350F) encountered in deep wells. However, even with the difficulty experienced to date in retarding acid, amazing results have been obtained from treatments of deep wells. High acid injection rates are almost a necessity to stimulate a hot, deep reservoir. Assume that a 1,500-ft section is perforated with only 50 holes. An injection rate of 25 bbl/min is required to allow 1/2 bbl/min/hole if all holes are open. A 1/2 -in. diameter perforation will pass 3 bbl/min with slightly over 400 psi differential pressure. If all 50 perforations happen to be open, approximately 150 bbl/min perforations happen to be open, approximately 150 bbl/min could be injected at 400 psi pressure drop across perforations. perforations. Injection rates of this magnitude are not physically possible even with the larger tubing sizes installed in most possible even with the larger tubing sizes installed in most deep completions; therefore, perforations should be kept to a minimum to assure adequate distribution of acid. Experience shows that, normally, no more than 25 percent of the perforations are open during the first part of percent of the perforations are open during the first part of a treatment. Improvements are constantly being made in acid retardation. At present, retardation time is often insufficient. The current acid recommendation from most treatment service companies for deep, hot wells is a mixture of 15 percent hydrochloric acid and formic acid. Normally, 8 percent of the mixture is formic acid and 92 percent is a 15 percent mix of hydrochloric acid. Large Production Flow Rates Gas purchasers usually contract to buy gas from a deep well on the basis of 1 MMcf/D for each 8 Bscf of reserves. With reserves ranging from 100 to 200 Bscf/well, the daily producing rate can easily be 10 to 25 MMcf. Thus, an operator must design and install completion equipment adequate to supply these volumes. Above-normal capacity often must be designed into the completion to compensate for "take or pay" gas contract. At original BHP, a gas well can deliver a given volume of gas with a minimum friction drop through the producing string. Future declines in pressure may mean the producing string. Future declines in pressure may mean the same production rate can be maintained only at the risk of higher friction loss in the tubing string. Thus, tubing strings also should be designed to permit continued high producing rates at lower formation pressures. producing rates at lower formation pressures. JPT P. 921

Implications of Recent Changes in United States Farm Price Support Policies

AYEAR ago there was widespread concern, in the United States at least, that the world was running out of food. Most news relating to current food production and supplies was unfavorable. The monsoons in India were failing for the second successive year. Short grain crops in the Communist countries had required large purchases from Western exporters. The disappearance of excess stocks in the United States and an unfavorable wheat yield outlook contributed to the uncertainty. After a careful assessment of probable world needs in the 18 months ahead, the national wheat acreage allotments for the 1967 crop were increased sharply. Within a few weeks after announcement of the larger allotment for the 1967 wheat crop, the world outlook turned more favorable. Canada, Australia, and the Soviet Union harvested record wheat crops. Argentina and western Europe harvested good crops of both wheat and feed grains. Feed grain harvests in eastern Europe were good, and a few months later South Africa produced a record corn crop. These excellent crops increased world export availabilities and also reduced the import demands in some of the deficit areas. As a result, United States exports of feed grains, soybeans, and wheat in the past six months have been lower than anticipated. We in the United States appear to have met the 1966 food emergency with our reserve production capacity not fully tested. We brought some 20 million acres back into production this year, increasing wheat, feed grains, and soybean acreages. On the basis of current yield estimates, we expect to supply all available commercial and concessional export outlets from the 1967 crops, add modestly to our 426-million-bushel wheat stocks and our 100-millionbushel soybean carry-over, and maintain a 40to 45-million-ton feed grain carry-over.

Depreciation: A Rising Cost of Processing Food Products

T OTAL DEPRECIATION charges made by food processing corporations were almost as large as their total net income after taxes in 1959 (Figure 1).1 The difference between the two has been narrowing during the last decade. For all industries in the economy, depreciation exceeded profits (after taxes) during both 1958 and 1959. Depreciation is an imputed cost. It may appear to be arbitrarily determined by accounting conventions. Nevertheless, it is a cost of doing business to the extent that it measures capital consumption. It is in the context of a marketing cost that I will examine trends and factors behind the rise in depreciation. Depreciation costs of food processing corporations more than doubled between 1949 and 1959. Since 1939, they increased more than fourfold. Depreciation per dollar of total receipts declined during World War II. From a low point of 0.7 cents per dollar of total receipts in 1946, depreciation rose steadily to 1.5 cents per dollar in 1959. This rise represents a 5.5 percent annual average rate of increase. Why is depreciation rising? Is it because of large postwar purchases of new machinery and equipment? Is it owed to the adoption of rapid methods of depreciation? Or, are assets being depreciated in a shorter period of time? This paper will be concerned with measuring the importance of these various forces. Original cost times the annual rate of write-off is the method of computing annual depreciation. The rise in total depreciation costs, thus, must be due either to a rise in total cost of depreciable assets, an increase in the rate of write-off, or some combination of the two. Gross depreciable assets of food processing corporations increased only slightly between 1939 and 1946. But since 1946, the rise has been steadily upward. Between 1946 and 1959 the annual rate of increase was 7.6 percent.2 This rise obviously has pushed total depreciation charges upward. But, the rise in depreciable assets per dollar of total receipts amounted

College Museum Notes

In the spirit of John Henry Cardinal Newman's observation that the university as a center of excellence should have “a place for seeing galleries of first-rate pictures,” the University of Notre Dame had an art collection as early as 1850, when Indiana was still a wilderness. However, this first collection was totally destroyed by fire in 1855. A new collection was started but was not substantially established until a large purchase was made in 1917, of paintings comprising part of the Braschi collection in Rome. Although the original inventory glows with famous names, many of the Braschi paintings are not what they were once thought to be. Fortunately, some of them can be exhibited today as fine examples of less well-known painters, e.g. Andrea Leone (fig. 6), Vignali, Allegrini.

Stresses and Strains of Japan’s Expansion

FANTASTIC AND FASCINATING may not be usual words of a scholar but they express the reaction of a two-week observer and two-month student of Japan's economy. Much has been written about the Phoenix-like recovery from the ashes of the war bombing, and how the growth of the Japanese economy has continued to out-pace that of all other nations. The rise in living standards is remarkable. Today that economy faces serious financial strains and problems, some inherent but most arising from the recent rapid expansion. Bank credit has been stretched to an unbelievable extent and foreign exchange problems are large. The May prospectus of the Japan Development Bank is a valuable source for summarized statistics. The impressions I write are my interpretation of many statements, facts, opinions and observations. As the Japanese Government exercises considerable control over many phases of the economy any discussion must consider both political and economic facts. The first phase of the Japanese boom, the period of post-war rehabilitation, was over by 1955, according to the White Book of Japan's Planning Agency, hereafter referred to as EPA. At that time, however, Japan's basic industries were not yet fully equipped and almost none of her industries had been able to catch up with Western technological advances. In the following five-year period, Gross National Product increased at an average annual rate of 10% (the highest rate in the world) and producer's durable equipment investment by 29% annually from approximately $2.1 billion to $8.4 billion. In the summer of 1960, after the political riots in Tokyo, the ruling Kishi Government was replaced by Prime Minister Ikeda, an advocate of high economic growth. With a general election set for Nov. 20, 1960, Prime Minister Ikeda announced a economic and pledged his government to a doubling over the next 10 years with a target of 9% annual growth for the years 1961-63. Although this was less than the average for the preceding five years the announcement had an immediate and powerful psychological effect. The survey of investment (construction) programs of important companies, which was collected generally before the announcement, showed an expected increase of 10% over the preceding year while that collected in Jan. showed an increase of a minimum of 35% and a maximum of 50%. Under the new income doubling policy the budget was increased, the Bank of Japan lowered its discount rate, commercial banks followed by lowering rates on loans and, on April 1, 1961, reduced interest rates on deposits. In July the EPA published the Economic White Book for Fiscal 1961 analyzing Japan's economy and outlining targets and problems of the Plan for Doubling National Income. Critics of this White Book say the work seemed to be not a plan but a long range forecast based on the premise that since the economy grew at a rate of 10% annually for the previous six years a doubling in 10 years or an annual growth of 7.2% would come as a matter of course. The importance of the so-called plan was its effectiveness as a slogan which created confidence by spelling out to the people the growth which was occurring and could be expected to come. The increase in the GNP in fiscal is estimated as 16.3% which becomes 11.6% when adjusted for price increases that accompanied the boom. Equipment investments by industry in reached the level anticipated for 1970 and totaled over $10.4 billion. Consumer prices, which had been remarkably steady, rose 9%. More serious was the much publicized adverse balance of trade that was aggravated by the large purchases of equipment and accumulation of raw materials by the rapidly growing industries. Current transactions

THE EFFECT OF CASH BUYING AND CREDIT BUYING ON CONSUMER LIQUID SAVINGS*

THERE ARE SOME consumers who consistently pay cash; others are willing to use instalment credit for at least some purchases. If cash buyers are thriftier people who plan ahead and save financing charges, they may be expected to add to their liquid assets, on the average, more than credit users. An alternative hypothesis is that credit users may use instalment payments as a budgeting device, paying for large items out of income and never touching their liquid savings for this purpose. By thus recognizing the difficulty of rebuilding liquid-asset balances (bonds and bank accounts), credit users may, on the average, add more to their liquid assets, or reduce them less, than cash buyers. In this study we attempt to test these contradictory hypotheses by making use of some previously unpublished data from the 1955 Survey of Consumer Finances. Besides being asked in that year how much their holdings of liquid assets had increased or decreased over their holdings a year earlier, consumers were also asked how they handled their finances when making large purchases for use in their homes. Most respondents said either that they paid cash or that they bought on credit.1 Our procedure will be to compare the changes in holdings of liquid assets of those who said they preferred to make cash purchases with those who said they preferred to make credit purchases. Since there are also Survey data available on the absolute

A Retrospective Look at a Profitable Water Flood

Abstract The history of Flood 12, a former intensive air-gas repressuring project, is discussed. The sand body is described and core graphs are given showing an upper and lower section of the Bartlesville sand body. The conventional five-spot waterflood development and well completions in these sand sections are outlined. The plant design and distributing systems are reviewed. A comparison is made between intermittent and continuous flowing for producing wells with continuous flowing yielding the better results. The waterflood recovery is determined to be above average for similar nearby projects. Since there seems to be still significant quantities of recoverable oil remaining, especially in the upper sand, plans are proceeding to exploit this reserve. Introduction The two leases which make up the area known as Flood 12 are the Riverland and the Scudder, located in the Alluwe pool of Nowata County, Okla. (Fig. 1). Their earlier history has been discussed before. The Riverland is the northernmost 80-acre tract and was formed by unitizing three leases. The Scudder lease, on the south, is also an 80-acre lease. Although the entire 160 acres has been flooded from a single water plant, the oil production of the two tracts has been run from separate tank batteries. Since there has been some difference in the primary history of the two tracts, and also some difference in their development for water flooding, they will be discussed separately. Both of these tracts were purchased from an independent operator in 1951 as a small part of a larger purchase. Sinclair obtained control of operations Aug. 1, 1951. At that time, the development of the flood was largely completed, the plant was constructed and over 3 million bbl of water had been injected. Except for the change in operating practices instituted by Sinclair and the drilling of additional wells to exploit the sand body more intensively, Flood 12 has been operated from the development program instituted by the former owner. Because it was a part of a large purchase, no actual cash value was assigned to Flood 12 as such. However, the estimated worth attributed to Flood 12 at date of purchase has been more than justified by its performance since then.

Manufacture of Radio Sets for Export

ACCORDING to the Electrical Times of November 16, British manufacturers are often criticized for not studying the requirements of overseas markets. The reason for much of this criticism is easy to understand, as the conditions in the home markets of several of our international competitors are very similar to those in overseas countries which are large purchasers. To take a case in point, consider the export of radio sets.

The Rayon Industry in Japan

I N RECENT years, nothing has attracted more attention and comment in the textile world than the amazing growth of the Japanese rayon industry. Within the span of 14 years, from 1918 to 1932, Japan increased her rayon production 700 times, with the result that Japan is today one of the world's four great rayon producers. In 1918 Japan's rayon production was 100,000 pounds; in 1924 it jumped to 1,368,000 pounds, and in 1932 it reached the unprecedented figure of 70,389,600 pounds. To attain their present position, the rayon producers of Japan had to overcome many obstacles, of which the two more difficult were: (1) the persistent resentment of the manufacturers and, (2) the cold refusal of the Japanese public to accept rayon as a useful commodity. However, the manufacturers finally gave in, and the attitude of the people changed. Today almost 52% of the rayon manufactured in Japan is consumed there, mostly by women in the form of rayon kimono and natsuobi or summer sashes. The more important rayon nianufacturing prefectures in Japan are Fukui, Gumma, Kyoto, Ishikawa, and Aichi. Of these Fukui comes first. That prefecture has been known for centuries as the principal manufacturer of textiles. When artificial silk made its appearance, it was natural for the manufacturers of Fukui to be the first to experiment with the new product. Fukui produces a little over 10%, while Fukui, Gumma, Kyoto, and Ishikawa combined, produce more than one-half of the total rayon manufactured in Japan. The year 1918, which marked the end of the World War, was the starting point of the phenomenal growth of the Japanese rayon industry. It was in that year that the rayon producers, who had been previously manufacturing guncotton, primarily to supply the needs of the army, suddenly turned their interest to commercial rayon production. Their concern was aroused specially, when European rayon began to pour into Japanese markets in appreciable quantities. By the purchase of foreign patents and with the aid of experts from abroad, coupled with the consistent, energetic support of the Imperial Government, Japanese rayon producers trimmed themselves into first-class condition for the world's production contest. At first, rayon was manufactured primarily to meet the needs of home markets. Shortly after the interest of the Japanese people was captured, merchants in other countries began to send orders for the product. The neighboring country, China, has been one of Japan's early and great markets for rayon. After China placed a boycott on Japanese goods in 1932, the market there was considerably curtailed. However, as relations between the two countries improve, Japan will probably capture again a large market in her neighbor's territory. For many years, due to her low tariff, Germany has been a large purchaser of Japanese rayon. But a recent raise in the German tariff and increased rayon production there have virtually closed that market to outsiders. The United States, heretofore, imported a large quantity of rayon from Japan. In June 1929 America placed

Power Alcohol

THE motor-car, of which there are so many millions, has provided a market as never before for a variety of manufactured products, and above all for the fuel used to drive its engine. It is responsible for the development of the great oil industry, including such highly technical sections of it as refining and cracking. The fact that only some favoured territories contain oil has introduced a new factor into the balance of inter national trade, resulting, for example, in large purchases of oil by British and European countries from the United States. Had world conditions remained what is termed normal, there would have been no desire to do other than buy oil of satis factory quality at the cheapest delivered price, irrespective of its origin, but as a consequence of the dislocation of exchanges and the parlous con dition of agriculture, the provision of substitutes for imported oil is being considered in a number of countries. Most of these alternatives would scarcely stand the test of scientific economics in normal times, a fact which necessitates their adoption under some form of government protection or compulsion, but it is none the less probable that, once established, a series of conditions might be set up which would favour and justify their con tinuation. At all events, the stimulus to invention and experiment, with the object of replacing imported oil by some other fuel, is present in all non-oil producing countries.

A Papyrus Fragment of Acts in the Michigan Collection

Papyrus 1571 of the Michigan Collection was bought in Cairo in 1924 in a large purchase, which was allotted to the contributing institutions by Mr. H. I. Bell of the British Museum. Many documents in the Michigan part of the purchase came from the Fayûm, but no further evidence is obtainable regarding the place of origin of this fragment. It came to us in three pieces, of which one was only partly unfolded and all were so dirty as to be rather illegible, but the papyrus was already designated as a portion of Acts and dated in the fourth century.

VIII.—Elizabethan Sheldon Tapestries

For many centuries, though a good many tapestries were woven in France, Flanders was the chief centre of the industry, and supplied the various European countries with tapestries and hangings of a similar character. Cloths of Arras were in demand for English country houses, and large purchases were made from time to time by the richer nobles. It was, however, at the beginning of the sixteenth century that tapestries came increasingly into demand and favour in England, as is evident by the fine collection made by Cardinal Wolsey for Hampton Court, and that of King Henry VIII for his own palaces. The inventory taken after his death records over 2,000 specimens, while a writer states that ‘one ship from the Continent carried no less than one thousand tapestries for the King of England’. Agents were employed in Flanders to secure the finest specimens as they were woven.

Large Purchase of Radium

Large Purchase of Radium