Document 7O8BKjrxvJxD8j72xz2r2Rok6

LIA20765 \ i i > S a n n u a l me e t in g o f t h e Vv,'7- ; g' op fi;r LEAD I SI",: :'THf.S ASfOCIATION New York, N.Y. May 1, 1948 The annual meeting of the members of the Lead Industries Association was held on Friday, May 1, 1948, at 1:45 P.M., at the Vtaldorf-Astorla Hotel, Hew York City. PRESENT REPRESENTING W. F. Black K. C. Erownell F. F. Russell J. A. Stone F. M. Hart J. U. Herndon J. A. Costello A. F. Knight E. L. Newhouse, Jr Clarence Glass f. P. Carroll J. A. Martino D. A. licrson H. C. Wildner F. Charrington F. G. Page C. H. Crane Andrerr Fletcher F. E. uormser G. H. LeFevre H. G. Ross T. G. Stover American Mtel Co. Ltd. American Smelting Sc Refining Co. Cerro de Pasco Copper Corp. Tlvlslon Lead Co. E. I. duPont de Nemours k Co. Inc. E. I. duPont de Nemours Sc Co. Inc. Ethyl Corp. Euston Lead Co. Federated Metals Tlvlslon American Smelting k Refining Co. International Smelting k Feflnlng Co. (Ancconda Sales Co., Agents) N-tional Lead Co. National Lead Co. National Lead Co. National Lead Co. North American Smelting Co. Phelps Eodge Corp. St. Joseph Lead Co. St. Joseph Lead Co. St. Joseph Lead Co. United States Smelting Refining Sc Mining Co. Inc. V.'estern Electric Co. Inc. Western Electric Co. Inc. F. L. Zlegfeld, Secretary-Treasurer Manfred Bowdltch, Tlrector of Health and Safety FEPRFgF??TFP EY PFOXY Alpha Metals, Inc. Eunker Hill k Sullivan Mining & Concentrating Co. Chief Consolidated Fining Co. The Eagle-Picher Co. Evans Metal Co. Federal Lining It Smelting Co. The Flemn Lead Co. Inc. W. P. Fuller & Co. General Lead Manufacturing Co. Hammond Lead Products, Tnc. Hecla Mining Co. The Imperial Type Metal Co. The Johnston Tin Foil k Metal Co. Kalin I-ros. Knapp Mills, Inc. "twmr pw yanw^>n *-, LlVz0766 \ Annual Meeting Minutes May El, 1948 -E Lead Products Co. Inc. John P. MacGregor Lead Co. Kew Park Mining Co. Northwest Lend Co. Park Utah Consolidated Mines Co River Smelting k Refining Co. Rochester Lead Works, Inc. Shattuck Eenn Mining Corp. Sliver King Coalition Mines Co Standard Rolling Kills, Inc. Sunshine Mining Co. Tintlc Standard Mining Co, TTensley Metal Products Co. Winchester Repeating Arcs Co. Mr. Crane occupied the chair. The minutes of the previous meeting held on May 9, 1947 were approved. REPORT OF THE SECRETARY AND TREASURER The report of the secretary and treasurer was approved, and is attached as Exhibit "A." REPORT OF THE PF-ESIIEKT The president said that this was the last official report he would make to the Association as it was his desire to retire from office at this recilng. He expressed his deep appreciation of the cooperation that he had received froa all the members during his veers as president of the Association. He said that he was proud of the conception of an organization like the Lead Indus tries Association that contained different elements and yet had always acted so harmoniously for the best interests of all. Speaking of the lead situation, he said that everybody knew that it was In short supply and tlu t he could hold out no great hope for relief so long as the present boom in business lasts. He said that production in the world is less th:-n It has been In the past and that production 13 all that the mines can supply with available labor. He felt that the temporary and short-term sus pension of the tariff, now before Congress, will not be opposed. He believed that the world market rill become the Kew York market after suspension of the duty. He also hoped that the Mexican strike would soon be settled and offer some relief to consumers of lead. ELECTION OF THE BOARD OE DIRECTORS The president then read a list of the Eoard of Directors of the Lead Industries Association, with changes as requested by member companies represented on the Board. A quorum being `Y1 "Ijw1 ll| mu . >ll >1 I I -**S^ -'-fW** i.'-- ... .. Annual Meeting Minutes May 21, 1948 -S- present, in parson or by proxy, the following Directors were duly nominated and unanimously elected Directors of the Lead Industries Association for the ensuing yeart REPRESENTING Norman Hickman, Vice Pres K. C. Brownell Executive Vice Pres. Clarence Glass, Ylce Pres S. A. Easton, President A. E. Bendelari, Director J. H. Schaefer, Vice Pres E. L. Nemhouse, Jr., Pres L. E. Hanley, President P. E. Sprague, Vice Pres. J. A. Martino, President 0. T.. Friendly, Vice Pres F. E. Wormser, Vice Pres. Janes Ivers, Vice Pres. J. n. Hade, President George Hlxter, Vice Pres. American Metal Co. Ltd. American Smelting t Pefining Co. Anaconda Sales Co., Agents, Inter national Smelting & Refining Co. Bunker Hill & Sullivan Mining t Concentrating Co. Eagle-PIcher Co. Ethyl Corp. Federated Metals Division American Smelting Refining Co. Hecla Mining Co. The Glidden Co. National Lend Co. Park Utah Consolidated Mines Co. St. Joseph Lead Co. Silver King Coalition Mines Co. Tintic Standard Mining Co. United States Smelting Refining fc Mining Co. Inc. The entire meeting then rose in recognition and appreciation of Mr. Crane's long and valued service as president of the Associ ation. Mr. Glass stated that he would like to go a steo further in showing the appreciation of the membership for the time, effort and leadership that Hr. Crane has glv-n the Association. He regu larly moved that a resolution be prepared to that effect, that a copy be sent to Mr. Crane and that it be recorded in the minutes. Motion was seconded and carried. i t I V LIA20768 Annual Meeting Exhibit "A" Kay 21, 1?M REE,'?? or THE SECRT<JtT SuaBaritlng the Actlvltlee c: the Lead Industries Association for t hs fear 19u7 ! 1 4 i MS3ERSHIP Pour new neater*, two rtguler and two associate, were welccoed into the Association in 191,7. The two associate mcnbora arc producers of lead in foreign countries who export pig lead to the United Stati s. They are Cerro d# Pasco Copper Corp. and Consolidated Mining and Smelting Co. of Canada, ltd. Addition of these companies to the Mexican and Australian producers who were already members, provides representation in the Association for aost of the foreign lead sold in this country. The two new regular members were E. I. duPcnt de Henours and Co., Inc., and Knapp Mills, Inc. Tie former is a leader in the chemical industry and manufactures such important lead conpounda as tetraethyl lead, color pig ments and insecticides. The latter is a manufacturer of lead equipment for the chemical industries. One resignation was received during tho year, that of the Sherwini Ti11lasts Co., which is no longer engaged in the manufacture of lead products. The only important changs in our statistical service during the year was in our reports of secondary lead operations. These reports have for many years covered receipts end stocks of battery plates at smelters and production from all forms of scrap. Hith the end of the war it became increasingly diffi cult to keep the cooperation of certain secondary smelters, not members of tr.o Association, with tho result that tho reports were too lato and too incomplete to be of value. Their publication was suspended during 19L7 and efforts are now being directed toward publishing a simplified secondary lead report, or which more prompt and more complete cooperation can be obtained. It is hoped that tho new report con soon be initiated. Me have continued to avoid duplication with the American Bureau of Metal Statistics and the U. S. Bureau of Mines in our statistical efforts. Toward this end we are presently engaged in exploring the possibilities of closer cooperation with tho American Bureau of Metal Statistics in the interests of an overall Improvement in currently available statistics for lead. O N 1855.01 i: jii --""" ' wuaiii>y^,"r --1* ^mwrm'1 "gw* ' LIA20769 'if Annual Meeting -2 - May 21* 1?W LEAD HTOIEKE More and bo re attention has been paid by the Association to thia object which constitute* cne of the Industry's foremost problems. Not only ust the Bedical profession and the publio and Industry generally be kept fully informed of the true facts of the lead haiard, ao often misunderstood and exaggerated. It la equally Important that the lead productna and consuming Indus tries themselves maintain the highest hyglonlc standards and have available to them the latest and best nodical and engineering infamotion to make this possi ble. With approval of adequate funds to engage a full-tlao Dli'eetor of Health and Safety for the Association, a search was modu for the best man for the position. The services of Mr, Monfrod Bowditch, who has hod many years of experience In this and allied fields* were finally secured and his active comeotioo with the Association began shortly alter the year end. During 19U7 two research projects on load poisoning which were fi nanced by earlier grants of the Association* wore continued. One is at Johns Hopkins Hospital end involves a search for an antidote for lead poisoning. This was financed Jointly with the Research Cooperation, An agreement has been reached with ovr co-sponsor of this project th-. any patents resulting from the work, whether they pre-dato our connection with it or not, shall be made avail able to the public without charge. Tho other project Is at the Children's Hospital in Boston and is de signed to study lead poisoning and particularly its diagnosis In children, especially to check the value of X-ray diagnoses by laboratory methods. In connection with tho resistance to the use of red lead on ships by the 0. S. Navy bocauso of tho pcssiblo lu-.d hacard, Dr. Ernest W, Brown, Captain* Retired, U. S, Havy Medical Ccrps, now Executive Officer to the Committee on Scientific Development and Education of the American Nodical Association, was retained to make a study of the incidence of lead poisoning in shipbuilding and repair. Tt*a report showod that with ordinary controls the use of red lead la perfectly safe. The report was submitted to the Havy and is being rewritten in suitable form for publication in OCCUPATIONAL MaDICIKL, published by the Council on Industrial Health of the American Nodical Association. Papers on the lead hazard in water distribution were delivered by staff members at the annual neetings of tlic American S^siuty for Sanitary Engi neering and the Western Flushing Official? Association. Our Lead Hygiene and Safety Bulletins were circulated to members from time to time throughout the year at in the past. These are designed to keep members posted on tho latest literature and developments in load hygiene. WASHINGTON ACTIVITIES Material shortages and tho international situation sorved to continue Washington as a moat important element in tho transaction of all business. The only lead products listed for consideration of tarix'f reductions at the Ocnova mm* wjmysr ww >. ww mm LIA20770 2 0 Annual Meeting -3 - My 21, 19L8 Confsrsnes on International Trade were the pigments and lead araenate. The Association filed a brief with the Committee for Reciprocity Information opposing tariff reductions on these products, As a result only minor reductions in a few products were put into effect. By order of the Executive Committee, the Secretary filed a statement with the Ccoaitteo on Publio Lands of the Houso of Representatives in oppcaltion to H, R. 22,55, a bill introduced by Congresmasn Russoll of Nevada to estab lish a subsidy program for nen-ferrous metal mines. The bill was approved by the Coenittee but never reached the floor of the House for consideration. It is still pending. In its place the Allen Bill, H, R. 1602, to extend the wartime Premium Price Plan on copper, lead and tine for two years, was sent to the floor and passed both the House and Senate. It was vetoed by t:.e President and prem iums thus ceased on June 30, 191*7, There have been many other time consuming but necessary Washington activities. A close relationship has been maintained with tho 0, S. Bureau of Nines, which is important in tho ucvclo.E-nt of tho Administration's mineral policies. Wo have also been ablo to render tne Bureau considerable aa sistone* in its statistical work. The Munitions Board is another agency with which we have attempted to work closely because of its lntcn st in ain.r.l policies and stockpiling. Tho National Security Resources Be-.-_rd and t!.e- trcald-.-.t'a Le.rd of Ecoa.'-d.c Advi sors arc equally Important in this respect. We have further maintained our friendly relationships with tho Office of Materials Distribution of the Department of Casa, rec.vith the State Depart ment, with the Bureau of Standards, with the Atomic Energy Ccraaissicn and other Government agencies. The Secretary addressed tho personnel of the Naval Research Labora tories on lead as one of a scries of lectures on various important mate rials with which they work. Bl'LLnTIIIS FCR UD2BLRS Publication of our Information Bulletins for members was contlnuod from time to tine during lVli7, These bulletins attempt to keep members posted on current articles, mainly in the trade press, dealing with lead or related subjects. Also Included aro items of general interest to u mbers. With the final discontinuance of virtually '.11 Government controls on lead, publication of our Reconversion lulletins, containing Government orders and similar information, has been l.ss frio.uent. However, they were published as needed throughout tho year, particularly relating to tho allitd metals, tin and antimony, which aro still under control. i l 'HP' " pyiwi .ww>rLUD? ' tm i'fc lilTT ' ii' iTj 'iwm.m.wFji ,.L*f W wiy.wp g i IWMilp<.ili|n!i'P<MU)iP.JIHJI 0 ` 1 : i Annual Meeting - I* Mty 21, 19M PROHOTIOW l ACTIVITIES As In the pest two years, cost of our promotional activities in 191,7 were conducted on on a somewhat curtailed basis because of the lead short age, Hcwever,their importance carnet be underestimated at a time when high prices and shortages to tend to stimulate efforts at substitution of other materlala for lead. iTCTE LEAD A.e only promotional activities conducted in the interests of white lead during 191,7 were those of the Educational Service Division, fonearly the Agricultural Service Division, In the past, this work was confined to eehoola of vocational agriculture and U-H Clubs, During the past year, horever, it was expanded into veterans training courses and vocational schools in cities where apprentice painters ere trained, New instructional cabinets end teach ing aids were prepared for these purposes, the material for veterans training being paid for in full by instructors using the equipment, Tne agricultural features of this program were continued but not expanded, Wc enjoy the coopers tlon of the American Turpentine Farmers Association Cooperative in these actiri ties* A detailed report of this program has been provided to members sup porting the Educational Service Division, This i.'ork is highly regarded in educational circles and despite the handicap cf a white lead shortage has been most successful. The TThite lead Research Cremittee formed two years ago was dormant throughout the year but may be reactivated at any appropriate time. RED LEAD PROGRAM This program has continued to progress and will soon be in a posi tion to benefit fren the various research programs initiated in past years. The Rod Lead Technical Committee not regularly during the year and a full time Technical Director, Mr, C. J, Vender Valk, was added oo oiio staff in August, 191,7. An extensive atmospheric exposure program wa3 and will begin this year, Tho Committee cooperated closely with the Government in the prepare tlon of new Federal specifications for red load paint, soon to be Issued. The work financed by our Red Lead Division at Bnttclle Memorial Institute on tho effects of paint on welding tr i completed and a report issued. This was submitted to the Navy at a mooting in Washington. A paper on the subject was also read at the annual meeting of tho American Welding Society, Reference has already been mado to curtain medical investigations relating to the uso of red lead in ship construction and maintenance. Substantial progress is being made with tho Navy toward testing of red load paints recoencnded by the Committee, A complete report of our rod lead activities has been provided all members supporting this work. The very .`..K&i, n*.in^rV.'l>a til*mrfTfcya ..Vj^i^aa*- ! 1 i 0 i Innail Mewting 5 **7 21, 191*8 nature t exposure testing of paints ubi results sloe of attainment but this D1vision noe has s sufficient background of testa to embark upon s broader publicity program, which la being dune et the present tine, Nevertheless it is felt that results of the work of the Rod Lead Technical Coeaaitteo have already been gratifying In several directions. The naibcrs of the Ccaoittee deserve high oacnendatlon for their unselfish contribution of time and effort to the suooeaa of this program. jgTAUJC UJtD PBCCXT3 PftJCftAH Two years ago this program branched into tho chemical construction field. Unfortunately, In September, 1x17, we lost the services of the chealcal engineer doing this work but arrangements have since been mode to carry it on. A number of ehccical installations were studied for the performance of lead and conpctltlve material.; and reports issued to muabero. Likewise, severs! articles an lead's performance in contact with certain corrosive chemicals were prepared and published In tho cheated trade press. Two field men continued tho promotion of lead in plumbing and water distribution. They node constant contact with the trade end -.dth city officials to be sure that lead received proper troctacnt in pluahlnt. codas. Heavy pres sure was brought to bear to displace le. d In many Inat. i-;jj because of the high price but this pressure was successfully resisted ir. ilj every case. These men also protected tho interests of lead In the many tv ti.al standard plumbing codes being prepared by such orgnniiatiens as tho Aii-ruuan Society of Ue-chanical Engineers, tiatlcnal Association of Building Officials, t)io Housing and Home Finance Agency of the United States, end others. Considerable progress was also made in the establishment of olasses to teach plumbers lead uerk so that there a ill bo an adequate supply of mechan ics capable of installing lead. In this ve ciijoycd the full cooperation of members in seeing that these classes obU'nc l n-.terials ct minimus cost. Wo have also worked closely with the Federal Apprentice Training Service on this phase of the program. Tho Metallic Lead Products Division cui Lilted lead products at four conventions during the year - - the National Au.'ecictlon of Corrosion Engineers in Chicago, tho National Association of Master Plumbers in Milwaukee, the American Mater Works Association in San Francisco, and the National Uetal Exposi tion in Chicago. Only one issuo of PLUMBERS' FQrt'JM was published in 191(7. A detailed ruport of the activities of this Division trcs recently sent to all supporting members. CEISRAL rftOUnTIOM Publication of our skagatinc LLD has been a i:r. ined on a strictly limited basis through tho lead shortage, :*.rely to kt c u.;i.d before users and potential users and to create good-u/ill, unly one is..uj w.-.s published in 191*7. Nevertheless It has continued to create a largo number of requests for techni cal assistance on tho part of users. f l 1MJM JMM -- LIA20773 Annual Meeting 0 -6 ic s :e l l \n e"u s_ ActmTirs Hay *1, 19i*fl The Lead Industries Association Is fortunately constituted of both producing and contusing branches of the industry. In tils direction lies greet er strength and an opportunity for each trench of the industry to be acquainted with the problocs of the other. This entails a responsibility on tlie part of the Secretary to maintain aa close personal contact with ell members as possible end to keep then Informed of activities end developments throughout the industry. As e etep teward accomplishing this, the Secretary attends Dairy nett ings of other groups in which atubers are intorented or of allied industries. Addressee on lead were delivered by the Secretary before tho annual convention of tho Colorado Mining Association in Denver in Fsbru-r. , 19lt7, and of the Mining Association of Montana in Butto in August, l'/V,'. :k also attended the meeting of tho American Mining Congrtrs in El Paso in ' jt-bur, tho national Mttal Congress in Chicago in October, tho annual st-. tints of the national Associ ation of Corrosion Engineers, tho American Institute of lining and letall ur.ical Engineers, the & ric-r. Society for lo.tiVateri-ls, uni the American ..'atcr Works Association, "no Stj-v t ry or rum.: re cf t:. ; t'-i'f are active in many technical scclotitr, push as those aer.tionod -sui t'w American Chemical Society, the Electrochemical '.citty, ti.e Industrial .vidua ar.d I-hay Society, and others. Tho Association is also frequently culled upon for technical articles and for assistance in the prep.-ration of wany to-!ideal publications. In this connection three chapters on lead were prepared i\ r the new edition of tho Metals Handbook, puclished by the Antrican Society for ;,.tols, and coordination of the entire section on load was undertaken. Article! w..re also written for Engineer ing and Mining Journal end various other aagazl;>cs. HESIUKATIO!! oy THE S3CHSTAET Cn May 12, 19ii7, Mr. Folix Woraser, secretary and treasurer of the Association sir.co its foraatlcn in 1923, resigned to take up another position in Industry. Tho new secretary wishes to pay tribute here to the foresight and leadership of his predecessor under whoso guidance the Association attained a high level of rospect and ncccnplisiracnt, Ihe Board of Directors presented the retiring secretary with a beautifully illuminated certificate on which tbe foilowing resolution of the Beard was inscribedj WH/p!EAS Felix Edgar Womaer has reriy. d Secretary snd Treasurer of tho Lead Indus tries Association after aoro tJian 13 yuara of senrico in that capacity, and TWiLl^S thj Association has grown under his guidance to a position of great prestige end respect not only in the metal industries but in ell private busi ness and public circles with wUch it has coco in contact, rm 9WM mmm LIA20774 Annual Meeting -7 - May 21, X9U0 BE IT dESCLVcS THAT the Board of Director* of the Lead Industrie* Association ex presses Its deep appreciation for Ur. Woroaer's long, efficient and inspiring service as adcinistratlve head of the Association and for his unwavering efforts in behalf of the industry be so ebl) represented. At the tino of the former secretary's rea? Ration, Ur. Robert Llrvllejr Zle^feld was appointed acting secretary and trj. oarur. He eras appoint ed secretary and treasurer by the Executive Ccomittoe an Vavaaber 17, I9u7. The new secretary wishes to express his deep appreciation of the loyalty and cooperation of the neatership and of tho Association staff who help ed to smooth the transition from one 3towardsnip to another. j "U illJtm' ifMBfff LIA20775 1 May, 19b h q ^t .3 or t h e l p .p t n '^t r in as s o c iat io n Alpha Metals, Inc.- 36) Hudson Are. Brooklyn 1, N, T. The American Metal Co., Ltd. 61 Broadway New York 6, N. Y. American Smelting > Refining Co* 120 Broadway New York 5, N. Y.- Broken Hill Associated Soelters Proprietary Ltd, Collins House Melbourne Cl, Australia Broken Hill South, Ltd*- Box 19b-C, C.P.O.- Melbourne, Australia Bunker Hill 4 Sullivan Pining and Concentrating Co. Kellogg, Idaho Cambridge Smelting Co* 100 Pacific Street Cambridge, Mass.- Cerro de Pasco Copper Corp. bO Vail Street New York 5, N, Y. Chief Consolidated fining Co* Eureka, Utah The Consolidated )lining and Smelting Company of Canada, Ltd* 21$ St. Jones St. V. Montreal 1, Canada Day Mines, Inc* Wallace, Idaho Dickson Weatherproof Nail Co*' P.0. Box $90 Evanston b, 111. Division Lead Co* 636 V. Kinzie Street Chicago 22, 111.- E. I. duPont de lleaours h Co., Inc. Wilmington 96, Del*. The Eagle-Pieher Co. American Building Cincinnati 1, Ohio The Electric Auto-Lite Co. P.0. Box 931 Toledo 1, Ohio Ethyl Corporation b05 Lexington Ave.- Kew York 17, N. Y.. Euston Lead Co.-(The (Hidden Co.) 50'1 Penn ve. Serai ton 3, Pa. Evans Lead Dir,-(National Lead Co.) P.0. Box 1L67 Charleston 2$, V. Ya. Evans Metal Co.' P.0. Box 7, No. Sid ' "r. Atlanta, Ga. Federal ''Irving & Smelting Go* 120 Broadway Lew York 5, N. Y.- Federated Metals Division of American Smelting & Refining Co. 120 Broadray r w York 5, N. Y. The Firestone Tire 4 Rubber Co* Box P, Firestone FarliAkron 17, Ohio The Fleam Lead Co*, Inc. Bradley Ave. 4 School Stn c-t long Island City 1, N. Y. B. P.- Puller 4 Co. Gardiner Metal Co* General Lead Manufacturing Co. 301 Mission Street San Francisco 19, Cal.. 1820 3. C-mpbell .vve,Chicago 32, 111.2132 Market Stnct Denver 2, Colo. laser Lead Co.> Inc. 31 Wyckoff Ave. Brorklvn 27, N.- Y.. Goldsmith Bros. Smelting 4 Refining Co .58 E. Washington St. Chicago 2, HI.. Hasoond Lead Products Inc. Hecla Mining Co. Hudson Smelting 4 Refining Co. Imperial Type Metal Co. International Smelting 4 Refining Co. First Trust Bldg, 65-95 Hyatt Ave. 31|00 Aramingo Hammond, Ind. Wallace, Idaho Newark 5, N.- J* Philadelphia 3b, Pa. (Anaconda Sales Co. Agents) 25 Broadway New York It, N. Y. The Johnston Tin Foil 4 Hotal Co. Kahn Brothers 6016-6120 S, Broadway St. Louis 11, Ho. 785 Humboldt St. Brooklyn 22, N. Y. The Kansas City Smelting 4 Kfg. Co. Knapp Mills, Inc. 2215-23 Gulnottc St.- Kansas City 1, Mo. 121 Broad St. New York It, N. Y. Lead Products Co. 709 N. Velasco Houston 3, Tux.. John R, MacGregor Lead Co. Ictals Refining Co, (Tho Gliddcn Co.) Mike Horse Mining 4 Milling Co. National Lead Co. New Park Mining Co, North American Snoltlng Co., Inc, It520 V, 15th St. Chicago 23, 111. Hammond, Ind* 620 Power Bldg* Helena, Ifent. Ill Broadway Hew York 6, N. Y* Kcctlfy, Utah Edjemont 4 Tioga Sta.pjilndelphla 3b, Pa. See Footnote, Page 2. f r  i1*?- *tgwmiwg wop u^^^o7'rb Pago 2 May, MS MEMBERS OP THE LEAD II.TUSTaiFS ASSOCIATIOH .North Broken Hill, Ltd. Rorthwest lead Co* The Okonito Co* Park Utah Consolidated Mines Co* Phelps Codec Corp, Fiver Sr.clting & Refining Co* Rochester `eAd Works, Inc. St. Joseph Lead Co, Shattuck Denn )lnlng Corp. Silver King Coalition Minus Co* Silvcrstcin & Pinsof, Inc. Standard Rolling Mills, Inc. Sunshine Mining Co* Tintic Standard Mining Co, Untied Ar.crienn Metals Corp. United States Saultlng Refining and Mining Co,, Inc, The Victory idaite Metal Co, Hy-n Vicncr & Sons Vulcan Lead Products Co* The 7cnslcy Metal Products Co, 7cstern Smelting & Refining Co. Western Electric Co,, Inc. White Petal Rolling It Stamping Corp. Winchester Repeating Iras Co, Tho Zinc Corp,, Ltd, Box 1<>03-R, C.P.O, Melbourne, Australia 2700 16th ,'.vet, S, W,Seattle L, Mash, Passaic, N, J. Continental Bank Bldg, Salt Lako City 1, Utah LO %all Str-ct Hew Tork 5, N, T, L195 Brrdlry Rond Cleveland 1, Ohio 360 Exchange St, 250 Park .'.ve. Rochester 6, N, I, Mew fork 17, a. T. 120 Broadway Mew Tork 5, H, T. 1010 Kearns Bldg. Salt Lake City 1, Utah 1706-1720 Liston .'.ve.Chic.ago 22, 111. 1L3 Jewell St, Brooklyn 22, H. T, 115 N. Second St. T'kina, Wash. Walker Bank Bldg. S It Lako City 1, Utah I96 Diaoond St. ..uklyn 22, M, T. 57 Villian Street 1205 "ain St. 5300 H-tch -r St. 15L5 '. P4 tree St, 1LL5 o-~r St. 60L T t' T Bldg. 195 Sro'd./ny 80 Voultric St. Pox 362.-!), G.F.O. R w Tork 5, H. T. Cleveland 13, Ohio P.iCTDond 5. Va., Milatukee h, Vfts, Dirvcr 2, Colo, Phoenix, Arit, New Tork 7, N, T. Brooklyn 22, H, T Hew Haven li. Conn, Melbourne, Australia if i i Associate Ucaber, l Ta 20777 ^U-a--^ _ .... ' ' L -* Annual Meeting HASKINS A SELLS CtftTtriCO PU*L>Q AOeOUMTAWTS Q, Fxhibit "B" May 1, 1948 I AT 44 TMCCT NEW YORK 17 f y _ 9 * ACcx>PK,i>}rrs c k k t it ic a t b Lead Industries Association! >e hare examined the balance sheet of Lead Industries Association as of December 31, 1947 and the related state ment of income, expenses, and reserves for the year ended that date. Our examination tins made in accordance with generally accepted auditing stajidards and Included such tests of the accounting records and such other auditing procedures as ve considered necessary in the circumstances. In our opinion, the accompanying balance sheet and statement of income, expenses, and reserves present fairly the financial condition of the Association at December 31, 1947 and the results of its operations for the year ended that date, in conformity rith generally accepted accounting principles applied on a basis consistent rith that of the preceding year. Ne lork, March 31, 1948. IS 1855.02 4jfc -  ****^'** V * jf&WM*^gpJWWI. * *iy m wi'i myu, mum iii <fj LIA20778 i i l k a d in ix -s t r id s a s s o c ia t io n b a ia n c e s k k k t . is q e x h k r 31, 194? A 3 8 BT8 CASH............................................................................................... 1108,81*3.31 OBLIGATIONS OF THE UNITED STATES - At OOflt: Certificates of indebtedness, 7/8*, due Jhne 1, 1948........................ Savings notea, series C, due June 1, 1950................ ............ .. 47,000.00 50,000.00 ADVANCES FORTRAVELING EXPENSES......................................................................... 2,900.00 if A2R TRAVELDSPCSIT......................................................... **75,00 i TOTAL.......................................... 1709.168.31 i I 1 I a c c o u n t s ?Aimi AJD 8 K 3 B B V E S I ACCOU.iTS PAYABLE...................................................................................................... $ 650.00 RESERVES: General Program EUnd..................................................................... $98,390.64 Ordinary Fund....................................................... 43,551.88 Safety and Hygiene Fund....................... ................................... 19,212.51 Agricultural Service Division Fund.................... 7,512.75 Vhite Lead Research Division Fund...................................... 10,024.00 Ked Lead Division lund....................... ..................... ............... .*6,577.33 metallic Lead Iroducts Division Fund.......................... .. 4,520.76 Sheet Lead Division Fund............................. 3,002.00 Southern Agricultural Service Livislon Fund.......... 1,726.44 Reserve for New Book........................... ....................................... m.q po .q o Total reserves................................................................ 208.518.31 TOTAL.......................................... $209.168,31 NOTE: The cost of furniture, fixtures, automobiles, and equipment has been rrltten off to expense. i ip< LIA20779 S4:,: . .rrhip ass**: stents T~ ' l**-'?............. ...... *r l,.'.erm't on atli.'.vticr" ',,. > Uhif'-d .. C .ie of tecka pricitd in prior year. TotaJ. liiCo^o.......................... EXFiRSuES: Salaries.................................................... .................. .. Bent and light......................................................... .. Telephone and telegraph............................ ............... . . --' . . . Stationery and office supplies............. 1,771.66 Trarel ci; -.use.................................. .. 26,242.00 Entertainment, lurch ocns, etc................... .. 3,135,46 Research and research material................ 4,235.50 Printing........................................................................ . S,369.6a Sal* of hooka printed................ .. 2,161.63 . ( . Illustrations............................................ .................... .. 359.51 Mailing expense....................................... ................ 2,884.60 Cost of publications: Lead................................ ......................................... .. Pluabers* Lead Forun................................................. Association dues....................................................... .. Social security taxes............. ................................. Books and subscriptions*........................................... 1,661.53 1,657.76 577.50 1,492.46 339.31,;,. * Furniture, fixtures, and office equipment..... 604.46 Conventions and exhibits............................................ Meetings............................................................................... 3,920.75 79 7.92 4 H equipment, cabinets, and fila equipment, etc..................................................................................... 4,469.23 Sale of fila slide equipment......................... .. 724.46 Awards................................................ ............................ .. 747.50 Consultation fees................... ............................ .. 1,739.25 Miscellaneous.................. ............................................. .. 2,572.23 Metal Fowler Association - for services....... ___aazi *s <l Total erpunaes * net......... .... EXCESS 0? IN'CCEZ (SG'ESSSS) FOR TUB TEAR............... 25.00 5. f 0 1774 RESSRV13 AT RSCHiTflMl 0? TSAR................... .................. 202.053.45 119.C79.33 5 :S, 633.56 5,611.74 - > r "?! 2,237.05 4,921.33 . 1,225.08 r'- 580.89 ' 53.98 * 1,860.79 ' 1,861.53 ; 348.00 882.27 333.31 ` 604.46 ji 725.69 3,375.00 ilixLIZilo 418,293.-40 25.253.48 RESERVES AT EOT OF TEAR 3.513. 1 43,390.64 *43,551.99 * Bopresenta a t:  rn^n^pfcpu'w llw V-wu>^ '4U*m -- m lU20180 * - r- j \ ~ r ,-\ -*,-1,00.00 1 nc rs ' (> '* r".^ $ 9,100.00 468,29 % 3,53 292.71 441,61 125,62 8,245.16 332.26 4,326.96 2,161.63 89.48 575.17 v ,i .^.:3 v * . , j. , ^ O r. . "'.-o . -,;-3.75 4 3,448.11 til,331.40 125.41 91.55 1,516.39 413.25 4,286.80 9,372.77 579.36' 460.79 164.22 284.42 t - , **; 4 4,500.00 2,060.08 565.01 ' ' > s ~ i t ] v / *Xij*05,, 90.00 1,657.76 . ' v'. - 229.50 142.31 317.88 - > 60*00 386.69 1,000,00 401.73 4,288.44 794.46 122.50 327.41 - . .. 3,534.06 702.77 ' * V. k 739.25 438.38 343.32 1 95.15 130.79 625.00 310.70 ? l.V.i'.B'J l**6^4,12 i4,55r-.39 i!Va2.51 .* *! -7 .3 r q i 5,130.59 12.643.34 i 7,512.75 J10.024,00 ;10,024,00 ill. 274.72 j 8,376,78 8.200.55 $16,577.33 429,565.09 $ 412,33 4.933.09 S 4,520.76 t 8.632.78 t 1,367.22 S3.002.00 359.22 S4.000.00 4r 3 * 0 0 2 00 fe X h 7 < 13 W ^4 xu&>2 .-Ansfer between funds