Document 5kJxoeQk3XXbXDBg95O293yGV

A ^* ;. . ;,j, ' *f'*' ' v"",;>" LEAD INDUSTRIES ASSOCIATION Greyber building/ 420 Lexington Avonuo Nw York, tt Y. Jim* 26, 1936. . bjt'Aur-tX'Jf'W jpgjjWjMyiffpsw; '' -- Juns 26, 1936, d h at t or assournox pr o po s ed t o r ad o pt io n sr ffis LZAD IXTCST3IZS ASSOCIATION IN SUPPORT Of TEA DM OV ISA KOriJUI, STOCI UZTHOD or CALCULATION or p r o mt s a n d iKTiSroar v a l u a t io n m c o s po s aIa a n d TAX PU8POSSS. SHCIAAS, la certain Industries. among others, the production, re fining sod fabrication of non-ferrous metals, the use of a basic formal mlnlnxw stock carried at fixed price* la a veil-recognised and accepted accounting practice ehlch most clearly reflect! inccae; BOf, TEARETORg, B* IT RASOLTffi: That tha load Industries Aiaociatlon approvee the use of a basic normal minimum stock carried at fixed price* to ascertain accurai.ly the Income of smelters, refiners, processors end fabricators of lead and similar metals, and respect fully requests the United States Bureau of Internal Revenue to authorise In addition to the methods heretofore prescribed In regulations issued br it the uee of this or max similar method as 7> 3 a leeful method of valuing inventories and costing sales In the computation of taxable Income for the torposee of United States federal income tax. ? BA IT rURTHAS RaS0L7xD that the representatives of the smelters, refiners, processors, and fabricators of lead and similar metals be urged to publish and circulate this resolution, and that the - officers of this Association be, and ther are hereby authorised and Instructed to submit copies of this resolution to such public and private bodies and agencies, as thty may deem expedient la the best Interssts of the Association's members. > '. ' rf