Document Egyp0Zm6Q1m9YEZ2M8L3yKpj

^ *-- tnwfc?>ynnf-.. '.' PFi' LIA20622 ANNUAL MEETING OF THE MEMBERS OF THE LEAD INDUSTRIES ASSOCIATION New York, N. Y. Key 3, 1938 The annual seating of the members of the Lead In due trie* Association was held on Tuesday, May 3, 1938, at IEiZO 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 Lead 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 Llssberger 4 Son, Inc. Nassau Smelting 4 Refining Co. North-Western Metal Mfg. 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 reed 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 Meetingl May S, 1959 (Secretary* Report Continued) Publications (1) "Lend* - Six Issues 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 PLUHo'r'.RS' FORUM, designed exclusively for the pluabing trade, was begun in June. The list of master and JourneyBan plumber*, Jobbers, and vocational schools was removed to for the nucleus of a nailing list for PLUMBERS' FORUM.' LEAD continued to print almost exclusively original ar ticles and it continues not only to build up good-will for nunerous lead products but, at tines, there is a direct con nection between the sale of lead on certain architectural Jobs and the appearance of soae item relating to the aetal In the nagaslne. (2) 'Plumbers* Forum" - Believing that it was essential to give sore national support to the activities of our three plumbing field representatives than the Association had heretofore provided, we began the publication of s magazine for Journeymen and master plumbers throughout the United States in June, endeavoring to make 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 plumbers' 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 cost of the publication of this magazine has been handsomely re paid in publicity for our products and members. (3) Leaflet on L.I.A. Standards - Owing to 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 ; 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 addition, many of the items that appeared in our publication were reprinted in full or in part by the trade press. , / Promotional AcUvlUei (1) Plumbing Promotion Program - A detailed report was fuxnlshecTsubscribing members at the end of the year on our Pluabing and Water Works Promotion activities. The program has been enlarged to introduce several new features! fa) 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. mi .1 LIA20627 * Annual Meeting! -d- May 8, 1938 fcE4P..rai8QRIW0 v The most Important activity of the Assoolation 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. Fairhall 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 facta. 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 ,`IMMUU SJP'U li llHHHipiBl iTlMW* ' UI^20628 W*?"'` **** Annual Meeting* -7- Kay 5, 1988 vital ubjecta of trade Information, legislation, trada promotion and health, that can not bo maintained as 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. ELECTION Or DIRECTORS A quorum being present, in person or by proxy, the following directors were duly nominated, ana 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 yeart B. W. Zimmer F. H. Brownell Clarence Glass 8. A. Easton A. E. Bendelarl Ivan Reitler J. F. McCarthy P. E. Sprague F. W. Rockwell 0. N. Friendly R. S. Reynolds Clinton R. Crane James Ivers J. W. Wade - F. F. Colcord representing American Metal Co. Ltd. American Smelting A Refining Co, Anaconda Sales Co. Bunker Hill A Sullivan Mining * Concentrating Co. Eagle-Plcher Lead Co. Federated Metals Division of American Smelt. A Ref. Co. Hecla Mining Co. Metals Refining Co. National Lead Co. Park Utah Consolidated Mimes Co. Reynolds Metals Co. St. Joseph Lead Co. Silver King Coalition Mines Co, Tlntlc Standard Mining Co. United States Smelting Refining A Mining Co. Ino. The meeting adjourned at 1*10 P.X. Secretary. Z0bZq '/ Aaeoolate l!*Vir iB'ssiJZJBuaaJir ijii.-u&osi&zm. KP IS d. Alpha hUl A Bulling Mills, Ino, 353 Hudson Ara. Brooklyn, B.f. The Ac*rIcon Metal Co. Ltd. 1 J rond*y He* Tork, B.T. American Salting A Rmtlniag Co. K 0 Broad**/ In Tork, B.T. Tb* Ju.drewc La-d Co .Ine. 30-4S reenpolnt Are. Long Island City,B.T. Baker Load Mfg. Co, 28 Cherry St, Voroeoter, ih.se. Btaksr hill A c'illria Mining A Concentrating Co, Polios*, Idaho. Csabrldge {halting Co. 100 PaclflO St. Omabridge, Mill. Carro do Paco Copper Corp. 44 Vail St. Bee Tork, B.T. CM of Conaoll dated Mining Co, Eureka, Utah. Crown Metal Co. 117-* *t Miingten St .Uileaakae, Vis. Deyrock Kind as Co. Ballaoe, Idaho, Dickson 7eatherpr.tof Boll Oo. P.0 Jo* C34 Branston, 111. Division Lwl Co. B3 Vest Dul* It, Chicago, XU. The Pagle-Ptcher load Oo. Tempi* Bor Bldg* Cincinnati, Ohds The llectrio Auto-Lite Co. Toledo, Ohio. Button Load Co. (The Midden Oo.) 600 Penn Are. Scranton, Pa. Evans load Company (harleaton, V. Ta. Pedoral Ml alas A Sseltlng Co. 130 Broadway Bee Tork, B.T. Pederated Mo tola Birlslon of American Saultins A Refining Co. 120 Broadway Bee Tork. B.T. The Plsmn Load Co., lac. Bradley Are. and School St. Lons Island City,B.T. B. P. Puller A Co. 301 Mission St. San Pranclsoo.Cal. Oardlnar Metal Co. 4820 South Campbell At *.Chicago, 111. Oeneral Lead Manufacturing Co, 2132 Market St. Dearer, Colo, Golden! th Bros.&aelt. A Refining Co. 58 Past Washington St. CMcago, 111. Hacmond Lead Products, Inc., Plrat Trust Bldg. Hammond, Ind. Hecla Mlalas Co. Bailees, Idaho. Hercules Minins Co. Bailees, Idaho. Hudson Smelting A Refining Co. 85-95 Hyatt Aye. Keeark, B.J. Icporlal Type Uatal Co. 3400 Araalngo are. Philadelphia, fa. International Smelting A Beflnlnc Oo. (Anaconda Sales Co., Agents) 25 Broadeay Bee Tork, B.T. The Johnston Tin Poll A Metal Co. 6015-6120 S.Broadway. St. Louie, Mo. Kahn Brothers 785 Hunboldt St. Brooklyn, B.T. Kansas City Sue It lag Co. 2215-23 Oulnotte St. Kansas City, Mo. The Lewin Metals Corp. Monsanto Post Office East St.Louis, 111. Maries Li saberger A Son, Inc, 23-01 Borden Are. Long Island City,B.T. Motels Refining Co. (Hie Oil Idea Oo.) Hammond, Ind. Bassan Smelting A Refining Co. Inc. SO Church St. Bee Tork, B .T, Rational Lead Co. Ill Broadeay Bee Tork, B.T. Borth American Smelting Co. Inc. Edgaaont and Tioga Sts. Philadelphia, Pa. Ths Borth-Vestem Metal Mfg. Co. 1328 Horth 2nd St. Minneapolis, Minn. Borthwest Lead Company 2700 - 16th ATe.S.V.(E&rbor Island).Seattle,Bash. Park Utah Consolidated Mines Co. Continental Bank Bldg. Salt Lcke City,Utah. Reynolds Metals Co. Pederal Reserve Apr-3 Building, Richmond, Ta. Rlvor Saeltlng A Refining Co. 4193 Aley Road Cleveland, Ohio Rochester Lead Works, Inc. 380 Exg/ucge St, Rochastsr, B.T. St. Joseph Lead Co. 25C Park Arena* Bew Tork, B.T. Sierman Lead Co. Wallace, Idaho The Shorwin-Williams Co, 101 Prospect Are.B.T. C levsland, Ohio Sllrer King Coalition Mines Co. 1010 Kearns Bldg. Salt lake City,Utah. SIlrerstein A Plnsof, Ino. 1708-1720 Elston Are. Qtlcago, 111, Standard Rolling Mils, Inc. 143 Jeroll St. Brooklyn, B.T. Teeaarsuuk A Custer Consolidated Mining Co. , Wallace, Idaho Tlntio Standard Itinlng Co. Balkar Bank Bldg. Salt Lake City,Utah. United American Metals Corp. 196 Diamond St. Brooklyn, B.f. United States Smolt.Ref.A Mining Co.Inc.,57 William St. Bew Turk, B.T. White Metal Rolling A Stamping Corp, 80 Moultrie St, Brooklyn, K.T. Winchester Repeating Arms Co, Bew Haven, Conn. N 2397.01 LIA 20631 Sm * ' HASKINS & SELLS Exhibit *1* Annual Meeting - May 8, 1988 CCftTtriCO PUUC ACCOLNTAMTS X ** CAST 40"* TACCT NEW YOAK S' 31 i ? \ i% iI ! i j u s c c mc a n t s * c k h t o ic a t s Leal Industries Association: Ve have male an examination of the balance sheet of Leal 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 review of the accounting methods and examined or tested accounting records of the Association and other supporting evidence in a wanner and to the extent which we consider'd appropriate in vier of the system of internal accounting control. In our opinion, based upon such examination, the aooaapanjring 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 * i LU20b3 1 Vi/ LMP DPU3TBIB3 ASSOCIATION . 'i ___________________________BAMJ.'CS 3)SgT. IECaOgR 31. 1937 -4 . AS 3ST 3 CASH................................................................................................................................... DUS FrtOL. iaaJl-3........................................................................................................ ADVANCES ?CB TBAVHLIHG SXPSUSSS........................................................................ $30,722.95 1,82S.00 950.00 TOTAL. . . ............................................ $33.997,95 LIABILITIES A D__ H S 3 < V S 3 ACCBUSD SOCIAL SECILCCTY TAXS3............................................................................ BSdSK7S31 Ordinary TunA............................................................................. .. $16,697.13 Umber Product,a - Better Paint Carapaign Bund............ 8U6.M8 Plumbing Promotion Fund................................. ..................... .. 12,239.6*4 Sheet Lead Pronotlon Fund............ .. 3.002.00 i I Total reserves............................ .. $ 762.70 32.735.29 TOTAL................................................. .. I33.M97.9S HOTS: The cost of furniture, fixtures, and ` 4 -t equipraent has been written off to expense.  uus..<".ng? !w LIA20632 * " - u~~*l>'rf'~frwr y.K.**sm r T> s t a t l c c .-t c? in c o me a id e x p e n s es ?0B Tig YEAR ENTS) P3CK^r3 31, 1937' CHDIKAHF TOTAL________ PJ1S LUlffiKBpaoiMcrs - BKTCEt PAINT CAMPAIGN SHEET PUTJBirO Ty.AH PBOUOTIiN PROMOTION INCOME - Members' &S3d3Sl^ntf8 * i *115.001.00 *50.060.00 *25.721.00 *36.198.00 *3.002.00 EXPENSES! Salaries.,.................. $ 93,999.16 *29,609.16 *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 Medical School......... .. 9,000.00 % 9,000.00 Advertising and industrial ex hit its....................... Printing and illus- 8,079.73 % 3,533.79 9,590,99 t tration.................... 7,827.12 5,077.59 961.52 2,288.01 Mailing expenses... 5,168.20 %9,022,53 351.99 799.18 t Pont and light. 2,790.92 2,790.92 Telephone and ft telegraph.............. 563.51 563.51 Association dues... 301.20 167.20 119.00 Stationery and office supplies.. 652.08 652.08 Social security taxes......... ............... 1,119.0$ 1,119.09 Book3 and subscrip- r tions........................ ' 909.35 *4 09.35 tslntertaiment, luncheons, etc... 898.39 112.66 73.10 712.58 professional . services................ 115.00 115.00 Expense of annual meeting.................. 32.93 32.93 Furniture and fix-'-' :. tures............. 215.07 215.07 Premium on trea- * surer's bond,,... 25,00 25.00 Miscellaneous...... 3.120.18 655.36 1.590.59 929.28 Total expenses... * 96^38^95 *95.885.50 325.292.69 *25.510.26 WET INCOME FOR THE y e ar ............................... * 16,362.55 $ 9,199.50 * 978.31 *10,687.79 *3,002.00 RKoH.iV is AT :-INNIl Of 19.372.70 12.952.63 368.17 1.551.90 a HSHn YHS AT :-,!3 OF .. ............................... i A^7Al-2^J.V^7-%U