Document 3m1V71zbkJ1nOyxDZ6V9Epxx

LIA20622 ANNUAL MEETING OF THE MEMBERS OF THE LEAD INDUSTRIES ASSOCIATION New York., N. Y. May 3, 1938 The annual meeting of the members of the Lead In dustries Association was held on Tuesday, May 3, 1938, at lt30 P. M., at the Waldorf-Astoria Hotel, Mew York City. Present Representing F. H. Brownell American Smelting 4 Refining Co. K. C. Brownell American Smelting & Refining Co. W. R. Dice Eagle-Plcher Lead Co. P. 5. Sprague Metals Refining Co. F. *. Rockwell National Lead Co. 0. M. Chapin, Jr. St. Joseph Lad Co. 1. H. Cornell St. Joseph Lead Co. Clinton H. Crane St. Joseph Lead Co. F. F. Colcord United States Smelting Refining and Mining Co. Inc. F. E. Wormser, Secretary-Treasurer R. L. Ziegfeld, Assistant Secretary Represented by Proxy Johnston Tin Foil 4 Metal Co. Marks Lissberger 4 Son, Inc. Nassau Smelting 4 Refining Co. Korth-Western Metal mi'g. Co. Northwest Lead Co. Park Utah Consolidated Mines Co. River Smelting 4 Refining Co. Rochester Lead Works, Inc. Sherwin-Williams Co. Sllversteln 4 Pinsof Inc. Standard Rolling Mills, Inc. Mining Co. The meeting was called to order with Mr. Clinton H. Crane in the chair. The minutes of the Annual Meeting of March 16, 1937 were approved. PEPORT OF THE TREASURER The report of the Treasurer was read and accepted as Exhibit "A" attached. PFPORT OF THE SECRETARY The report of the Secretary'was read and approved as followsi V LIA20623 Annual Meetingt Kay 3, 1938 PrpQRT or THE SECRETARY Tha following la a brief rpsurnA of the activities of the Lead Industrie* Association covering the calendar year 1937, the ninth year since its organisation. Jfenbershla Member* of the Lead Industries Association comprised 54 companies at the beginning of 1937 and 57 companies at the end of 1937, the largest number in its history, with one resig nation during the year, a net increase of three members. Statistics The collection and distribution of trade statistics relating to numerous lead products continued without interrup tion during the year, the usual annual report appearing in March, 1938. Federal Legislation (1) Taflff - In November, the State Department announced its in tention to negotiate a reciprocal trade treaty with the United Aingdom, Newfoundland and the British Colonial Empire, and, as the procedure of the State Department now-a-days is to publish a list of those commodities which will be considered in the treaty negotiations, industry has an opportunity to know whether or not Its own products are to be Included. The lead pigments, bottle caps, lead-covered cable, and lead ores being Involved in the British treaty, a brief was prepared and filed with the Com mittee for Reciprocity Information in opposition to a reduction in the rates on commodities In which jre were Interested . Copies of the briefs were submitted to all members. Subsequently, the Department of State announced that a revision was contemplated In the trade treaty with the Government of Canada and that lead ores and pig leid were to be among the commodities included In the negotiations. Therefore, another brief was prepared to state our opposition to a reduction in the rates on these commodities in the Canadian negotiations, copy of which was transmitted to all members. (P) Inventory Valuation for Tax Purposes - The Association placed Itself on record as favoring the optional use of the "last-in first-out" system of inventory valuation for tax purposes by the Bureau of Internal Revenue. A basic change in the revenue law is necessary to permit this practice and is being urged upon Congress by numerous industries. Annual Meeting! May 5, l3 (Secretary* Report Continued) Publications (1) "Lend* - Six lasues of our bi-monthly magazine, LEAD, appeared"during 1937, but an important change was Bade In the distribution of copies because a new publication, known as PLUHor.P.S* FOPUM, designed exclusively for the plumbing trade, was begun in June. The list of easier and Journey man plumber*, Jobbers, and vocational schools was removed to for the nucleus of a Bailing list for PLUMBERS' FORUM. LEAD continued to print almost exclusively original ar ticles and It continues not only to build up good-will for numerous lead products but, at tlaes, there Is a direct con nection between the sale of lead on certain architectural Jobs and the appearance of s o b# Item relating to the aetal In the magazine. (2) "Plumbers* Forum* - Believing that it was essential to give sore national aupport to the activities of our three plumbing field representatives than the Association had heretofore provided, we began the publication of a magazine for Journeymen and master plumbers throughout the United States in June, endeavoring to moke each issue helpful to the craft by furnishing practical Information on the every day working of lead products and their installation and to make It a meeting place for a discussion of the plumber*' lead problems. The success of this magazine has far ex ceeded our expectations. The first few issues became quick ly exhausted and there is no doubt but what the small coat of the publication of this magazine has been handsomely re paid in publicity for our products and members. (3) Leaflet on L.T.A. Standards - Owing to a demand for in formation as to the Standard of the Lead Industries Associa tion for lead pipe, traps and bends, an attractive four-page leaflet wt* prepared for distribution to the trade by the Association and interested members. (4) Contributed Articles - During the year we provided the trade press with an article, "Summary of Notes on Lead Roof ing". In audition, many of the Items that appeared in our publication were reprinted in full or In part by the trade press. / Promotional Activities (1^ Plumbing Promotion Program - A detailed report was furnlshe3~subscribing members at the end of the year on our Plumbing and Water Works Promotion activities. The program has been enlarged to introduce several new features! (a) Publication of the magazine, PLUMBERS' FORUM, (b) Adoption of a modest advertising program In the plumbing trade Journals and water works maga zines, and Annual Meetingi -4- May 3, 1938 (c) Adoption of Seal of Approval on lead pi pa, traps, bends and calking lead. Beating the Lead Industries Associa tion Standard. As usual, h great Bany Plumbers* Conventions were attended, together with the Annual Convention of the National Association of Master Plumbers at Atlantlo City, where a special exhibit had been prepared. The display was of such great Interest that it attracted wide attention and was later shipped to Utah and the Pacific Coast, where it 1st still being used for educational pur poses. There is no doubt that, despite the compara tively modest sum which is being spent on plumbing and water works promotion throughout the United States by our Association, the work has already restored lead to plumbing codes where it had been displaced and that the plumber is again turning to the metal instead of substi tutes. In addition, we note that trade schools are em phasising the importance of lead work. We feel that it will only take a few more years to remedy in large measure the lack of properly trained apprentices in the plumbing business. The trade literature recognizes the return to lead work. Following the adoption of the use of the' Seal of Approval of the association for lead pipe, traps and bends, the Association, as of November 1st, adopted a Standard for Calking Lead and the use of the Seal of Ap proval on Calking Lead meeting that Standard. Already we have been informed that the American Water Works Associa tion is contemplating the adoption of this Standard as its own and that various contractors are using the Stan dard in their specifications, together with the Seal, as an assurance of procuring the finest quality lead for the purpose. (?) Lumber Products-3etter Paint Campaign - The Campaign completed the third year or its activity in 1937. The lumber and other associations cooperating with the work grew to 44 and interest in the objectives of the Campaign has, if anything, been intensified, A detailed report of the activities was provided subscribing members at the end of the year. The Campaign utilized. In part, the medium of State retail lumber dealers conventions to further lti message. Our two rield representatives appeared at as many of these conventions as possible and spoke on the Importance of using only white lead in oil or the higheat grade prepared paint to protect lumber. This work was followed by visits to the Important national lumber menu-, facturers' association headquarters, such as, the Western Red Cedar, Red Cedar Shingle Bureau, California Redwood, Western Pine, and others, to acquaint them fully with our LIA20626 \ Annual Meeting I -6- May 3, 1938 methods and to receive their assistance. The Campaign also used a trailer, donated by the Douglas *lr Plywood Association, which carried an educational oxhlbit on paint and painting throughout parts of the middle west during the late Spring, Summer and Fell. Millions of painting Instructions leaflets have been distributed at the expense of the Important cooperating national lumber associations, end, In ad dition, painting labels were devised for use on drop siding, which will probably be put In use In 1938. The lumber Industry appears to be keenly In terested In the continuation of the program and it has undoubtedly focussed more attention on paint problems by the lumber producers than ever before. The entire paint Industry, as well as the lumber Industry, faces serious competition these days from the use of composi tion shingles in low-priced home construction, the shingle manufacturer stressing the point that they do not require painting. This trend, of course, la due In large part to the dissatisfaction of paint users with the painting service they have received. The Campaign has brought about close coopera tion between our own Association and the lumber Industry of the United States. (Z>) Miscellaneous - It has been disturbing to observe numerous attacks cade upon white lead by a few competi tive paint products. Illustrating the divergent points of view existing between some prepared paint manufacturers and the producers of white lead. From our early experience with the Lumber Products-Better Paint Campaign, we know that at least one manufacturer of low-grade paint, who had gone so far as to make bitter attacks on our product, quickly changed his formula and incorporated white lead in his paint, after the Campaign was launched, and the attacks ceased abruptly. Perhaps there la a lesson in this episode. Some of our members producing litharge are worried over a trend away from lead-bearing enamels In stove and pottery manufacture. A preliminary investiga tion by this office Indicates that some litharge or leaded-frlt users are Influenced by the health hazard to enamel workers in the use of leaded enamels. One stove manufacturer has indicated that he can not obtain the delicate pastel tints desired with a leaded frit. In any event, it does seem as if the litharge producers In the Association might properly survey the whole field and decide what, if anything, can be done Jointly by them to hold or expand their existing market in the enamel and pottery field. Annual Meeting! -e- Kay 8, 1938 I(F-AP.-Pgl8QRIW0 S. The most Important activity of the Association on the subject of lead poisoning was the eonferenoe of physicians and surgeons of member companies, held in Chicago on April 6, 1937, at which our guests were Dra. Aub and Falrhall, who have long been associated with the fundamental medical research on lead at Parvard University. This conference was perhaps the most help ful from e medical standpoint on lead ever held in the United States. It reviewed our existing knowledge of lead poisoning and enabled the doctors who faced the problem every day to exchange helpful views. A trans cript of the meeting was prepared and circulated to all our members. An investigation of the lead content of evapora ted milk, sponsored jointly by the Evaporated Milk Associa tion, the International Tin Research and Development Coun cil, and the Lead Industries Association, was concluded in 1937 by Dr. Falrhall and his findings published in the November, 1937 issue of the Journal of Industrial hygiene and Toxicology*. The investigation gave solder, as used in sealing evaporated milk cans, a clean bill of health, great ly relieving the anxiety of the evaporated milk producers and helping to dispel for all time the efforts which are made periodically to discredit the use of one drop of solder for the purpose. We also assisted in a revision of the paper pre pared by Dr. 81dney Hegus of the University of Virginia, for use by the American Water Works Association, on the Physiological Aspects of Mineral Salts in Public Water Supplies". Our contribution consisted in providing the author with up-to-the minute data on lead so that the ac curacy of his presentation, as it affected our metal, was Improved. From our own experience, we know how important It Is to see that health comments about lead products are within the facts. RESEARCH t We have supplied lead discs for the American leather Chemists Association, who are making a study of the corrosion-resisting qualities of various materials serving the tanning industry. We expect to receive a re port of their investigation for distribution to our mem bers after it has been completed. COHCLUSIOlf All the activities of the Lead Industries Association remain fundamental in scope. They deal with LU20628 Annual Meetings -7- Kay 5, 1986 vital ubjecta of trade Information, legislation, trad# promotion and health, that can not bo maintained aa economically or efficiently by individual members as they can be collectively. With the growing complexity of business and the multiplication of problems every company has to me6t, not to mention inter-industry com petition, It does appear as if the trade association has become In Indispensable agency of Industry, performing a function that It alone can best discharge. Respectfully submitted. ecretary. ELECTION OF DIRECTORS A quorum being present, in person or by proxy, the following Directors were duly nominated, and there being no other nominations, and all nomlnuees being eli gible, the following were unanimously elected Directors of the Lead Industries Association for the ensuing years B. W. Zimmer F. H. Brownell Clarence Glass 8. A. Easton A. E. Bendelarl Ivan Reitler J. F. McCarthy P. E. Sprague F. f. Rockwell 0. R. Friendly R. 8, Reynolds Clinton R. Crane James Ivers J. W. fade F. F. Colcord representing American Metal Co. Ltd. American Smelting k Refining Co, Anaconda Sales Co. Bunker Hill k Sullivan Mining * Concentrating Co. Eagle-Plcher Lead Co. Federated Metals Division of American Smelt, k Ref. Co. Hecla Mining Co. Metals Refining Co. Rational Lead Co. Park Utah Consolidated Mimes Co. Reynolds Metals Co. St. Joseph Lead Co. Silver King Coalition Mines Co, Untie Standard Mining Co. United States Smelting Refining k Mining Co. Ino. The meeting adjourned at ltlO P.M. Secretary. Z0bZq '/ Aaaoolate l!*Vir ic-^JLflCJELWiaJC:. UlSiXttnfflL BP IS A. Alpha hUl A Belling Mills, Ino, 353 Hudson Ara. Brooklyn, B.f. The Ar*rIcon Metal Co. Ltd. 1 Broadway Re* Tork, B.T. American 6-olti.ri A Rectlniag Co. K 0 Broad**/ la* Tork, B.T. Tb* Andre we La-d Co .Ine. 30-4S Orawnpolnt Are. Long I aland City,B.T. Baker Load Mfg. Co, 28 Cherry St, Voroeoter, Mias. Btaksr hill A c'illria Mining A Concentrating Co, Polios*, Idaho. Cambridge Seel ting Co. 100 Peclflo St. Omabrldg*, Mill. Carro do Paaco Copper Corp. 44 Vail St. Be* Tork, B.T. CM of Cocao 11 dated Mining Co, Eureka, Utah. Crown Metal Co. 117-* feat Miingten St .Milwaukee, Vis. Dayrock Kind as Co. Ballaoe, Idaho, Dickson 7etherpr.>of Boll Oo. P.0 Jo* 334 Bvanaton, 111. Dirlslon Lwl Co. 834 Veat Cult It, Chicago, 111. The Pagle-Ptcher load Oo. Tempi* Bar Bldg. Cincinnati, Ohio The llectrio Auto-Lite Co. Toledo, Ohio. Button Load Co. (The Midden Oo.) 600 Penn Are. Scranton, Pa. Evans load Company (harleaton, V. Via. Pedoral Ml alas A Saeltlng Co. 130 Broadway Be* Tork, B.T. Pederated Mo tola Dirlslon of American Saultins A Refining Co. 120 Broadway Be* Tork. B.T. The Plaraa Load Co., lac. Bradley Ava. and School St. Lons Island City,B.T. B. P. Puller A Co. 301 Mission St. San Pranclaoo.Cal. Oardlnar Metal Co. 4820 South Campbell At *.Chicago, 111. Oeneral Lead Manufacturing Co, 2132 Market St. Dearer, Colo, Goldsmith Bros.&nslt. A Refining Co. 58 Past Washington St. CMcago, 111. Hanmond Lead Products, Inc., Plrat Trust Bids. Esmond, Ind. Hecla Mlalas Co. Ballece, Idaho. Hercules Minins Co. Tad lace, Idaho. Hudson Smelting A Refining Co. 85-95 Hyatt A**. Kewark, B.J. Icpcrlal Type Uatal Co. 3400 Araalngo are. Philadelphia, fa. International Smelting A Beflnlnc Oo. (Anaconda Sales Co., Agents) 25 Broadway Be* Tork, B.T. The Johnston Tin Poll A Metal Co. 6015-6120 S.Broadway. St. Louie, Mo. Kahn Brothers 785 Husboldt St. Brooklyn, B.T. Kansas City Saeltlng Co. 2215-23 Oulnott# St. Kansas City, Mo. The Learln Metals Corp. Monsanto Post Offlea East St.Louis, 111. Maries Li saberger A Son, Inc, 23-01 Borden Are. Long Island City,B.T. Motels Roflalcg Co. (Hie Oil Idea Oo.) Hammond, Ind. Bassau Soeltlas A Ref Inins Co. Inc. SO Church St. Be* Tork, B .T, Rational Lead Co. Ill Broadway Be* Tork, B.T. Borth American Smelting Co. Inc. Edgaaont and Tioga Ste. Phllalelphia, Pa. The Horth-Teatern Metal Mfg. Co. 1328 Horth 2nd St. Minneapolis, Minn. Borthwett Lead Company 2700 - 16th ATe.S.V.(Earbor Island),Seattle,Bash, Park Utah Consolidated Mines Co. Continental Bank Bldg. Salt U'ke City,Utah. Reynolds Metal* Co. Pederal Reserra Apra Building, Richmond, Ta. Rlror Saeltlng A Refining Co. 4193 dlay Road Cleveland, Ohio Rochester Lead Works, Inc. 380 Exchange St, Rocheatsr, B.T, St. Joseph Lead Co. 25C Park Arena* Be* Tork, B.T. Bierman Lead Co. Wallace, Idaho The Shorwin-Williams Co, 101 Prospect Are.B.T. Cleveland, Ohio Sllrer King Coalition Mines Co. 1010 Kearns Bldg. Salt lake City,Utah. SUrersteln A Plnaof, Xno. 1708-1720 Elston Are. Qtlcago, 111. Standard Rolling Mils, Inc. 143 Jeroll St. Brooklyn, B.T. Temarack A Custer Consolidated Mining Co. Wallace, Idaho Tlntio Standard ltlnlng Co. Balkar Bank Bldg. Salt Lake City,Utah. United American Hotels Corp. 196 Diamond St. Brooklyn, B.f. United State* Sraolt.Ref.A Mining Co.Inc.,57 William St. Bew Turk, B.T. White Metal Rolling A Staqplng Corp, 80 Moultrie St, Brooklyn, K.T. Winchester Repeating Arms Co, Bew Haven, Conn. N 2397.01 HASKINS & SELLS CIKTiriCO PUBLIC ACCOUNTANTS Exhibit *1* Annual *eetla* - May 8, 1988 ** CAST 40 STSCCT NCW YORK ACCOUNTANTS1 CKRTT21CATS I/jad Industries Associations Ve have male An examination of the balance sheet of Lead Industries Association as of December 31, 1937, and of its statement of income and expenses for the year ended, that date. In connection therewith, we made a revlaw of the accounting methods and examined or tested accounting records of the Association and other supporting evidence in a manner and to the extent which we considered appropriate In viex of the system of internal accounting control. In our opinion, based upon such examination, the accompanying balance sheet, with the footnote thereon, and statement of income and expenses, fairly present, in accordance with accepted principles of accounting, the financial condition of the Association at Decem ber 31, 1937, and the results of its operations for the year ended that date. New York, February 28, 1938. $ * N 2397.02 l1^20630 !^W*Jl ' 1 LAD'llDt?3THE3 ASSOCIATION BAL/U.'OS 3>-ST. EECaCTSR 31. 1937 AS 3ST 3 CASH........................................................................................................................... d u s ?a. iaa^i-3........................................................................................................ ADVANCES ?CBTBATBLIHG SXPHJSSS......................................................................... $30,722.9S 1,82s.oo 9S0.00 TOTAL. . . ............................................ l33.M97.9S LIA3ILITIL3 a d 11 s s >; < v s 3 ACC-CSD SOCIAL SECCICCTY TAXB3............................................................................ Iu>dSK7S3t Crlinary Fund......................................................... ................. $16,6M7.13 Umber Products - Better Paint Carapaign Bund............ 8M6.M8 Plimbing Promotion Fund................................. ................... .. 12,239.6*4 Sheet Lead Pronotlon Fund............ .. 3.002.00 i I Total reserves..................... .. $ 762.70 32.73S.2S TOTAL................................................. .. j33.M97.9S HOTS: The cost of furniture, fixtures, and equipraent has been written off to expense. ?i -r -j- -- -<--> .j.^***,.* ^..T.,,,.-imrryn.. . " LIA20632 0- -y--f *, *. .^31 m .C' T jl twit*' 3TLTZDCrC C? IHCOiG AIH ECPS.'SHS ?CR ES 'EM, EN-33 X>3Cg:^?a 31. 1937*______________________ CHDIIvAHY TOTAL________FTPS) LUMBER paoixjcrs - BETTER PAINT CAMPAIGN SHEET PLUMBIM3 LEAD PPOUOTIiN PROMOTION INCOME - Members' &SSd9SlIi6ntf8 3llS.001.00 $50.080.00 t25.i2l.00 136.198.00 13.002.00 ]tfPi:N.SE3: Salaries.................... $ 43,444.16 $24,609.16 $10,560.00 $ 8,275.00 Travel expense......... 17,892.57 1,309.05 8,722.30 7,861.22 Medical research - payment to Harvard Uealcal School......... .. 4,000.00 4,000.00 Advertising and industrial ex- hibit3....................... 6,074.73 3,533.74 4,540,99 Printing and illus- * tration.................... 7,827.12 5,077.59 461.52 2,288.01 Mailing expenses... 5,168.20 %4,022.53 351.49 794.18 Pont and light. 2,790.42 2,790.42 Telephone and fi telegraph.............. 563.51 563.51 Association dues... 301.20 187.20 114.00 Stationery and office supplies.. 652.08 652.08 Social security taxes......... ............... 1,114.09, 1,114.09 Book3 and subscrip- . tions............ ' 404.35 ^04.35 tslntertainnent. luncheons, etc... 898.34 112.66 73.10 712.58 ^Professional services................ 115.00 115.00 Expense of annual meeting.................. 32.43 32.43 Furniture and fix--' :- tures......................... 215.07 215.07 Premium on trea- * surer's bond,,... Miscellaneous...... 25,00 3.120.18 25.00 655.36 1.540.54 924.28 Total expenses... $ 96.638.45 S45.ees.50 325.242.69 325.510.26 lfBT Ii.CGME POP THE 9 TEAR............................... $ 16,362.55 $ 4,194.SO $ 476.31 $10,687.74 $3,002.00 iLW..-.Vi, AT :-INNIl 0? YEAR......................... 14.372.70 12.452^63 368.17 1.551.90 a HEIKYEG AT ::!I> OF TEAR........................... i J.V^7-*-U i_,. ^.^12^39^/^2^