Document KJjZy3d3g7JkQK5mModykMbGo

New York, N. Y BOARD OF DIRECTORS MEETING MINUTES December 1, 1959 A meeting of the Board of Directors of the Lead Industries Association was held on Tuesday, December 1, 1959* at the offices of the Association. PRESENT REPRESENTING K. V. Green, Chairman S. D. Strauss J. S. Bers M. M. Zoller J. A. Costello R. D. Bradford F. E. Hurless J. A. Martino W.H.H.Cranmer Andrew Fletcher G. H. LeFevre The Electric Storage Battery Co. American Staelting and Refining Co. Bers & Co. Inc. Eagle-PIcher Co. Ethyl Corp. Federated Metals Division American Smelting and Refining Co. International Staelting and Refining Co. (Anaconda Sales Co., Agents) National Lead Co. Rev Park Mining Co. St. Joseph Lead Co. United States Smelting Refining and . Mining Co. OTHERS PRESENT J. S. Smart, Jr. D. A. Mersan R. G. Kenly C. M. Chapin, Jr. C. R. Ince American Smelting and Refining Co. National Lead Co. New Jersey Zinc Co. St. Joseph Lead Co. St. Joseph Lead Co. Robert L. Ziegfeld, Secretary-Treasurer Schrade F. Radtke, Director of Research David M. Borclna, Assistant to Secretary Samuel E. Eck, Assistant to Director of Research The meeting was called to order at 11:05 A.M. with Mr. Green presiding. - The minutes of the previous meeting of April 22, 1959> were approved. The chairman then requested the committee to rise in silent prayer for our late president, Mr. John D. Bradley. A motion was made, seconded and unanimously approved to adopt the following resolution concerning Mr. Bradley far transmission to his family and associates. LI troth', Board of Directors Meeting Minutes -2- December 1, 1959 IK MEMORIAM WHEREAS, John Davis Bradley vas serving as Chalraian of the Board of Directors, President, and Chairman of the . Executive Committee of the Lead Industries Association at his untimely death on November 26, 1959# and had contrib uted unselfishly of his time, energy and ability towards its growth and success, now therefore be it RESOLVED That the Board of Directors of the Lead Industries Association, on its behalf and that of the entire membership and staff, express to his family, friends and associates sincerest sympathy, and appreciation for his invaluable contributions to the lead industry and for his friendship and unswerving integrity of purpose. The chairman stated that it had been the Association's practice to have the president of the Association serve also as chairman of the board. He thought it might be well for the Nominating Cccmittee to con sider the possibility of nominating different individuals for each of these important posts. SELECTION OF INTERIM PRESIDENT Mr. Andrew Fletcher was appointed interim chairman of the Exec utive Committee, which was requested to meet within the next two weeks to select an interim president of the Association to serve until the next annual meeting. - CONSIDERATION OF 19^0 BUDGETS At the request of the chairman, the secretary then discussed the i960 budgets. 1. Ordinary, Pension, Health and Safety Funds The secretary reported that the rates per ton for the recommended i960 budgets for these three divisions would require an increase of approximately 25 per cent in the 1959 rates per ton. After seme discussion, it vas regularly moved, seconded and unanimously recommended that the budget for i960 for each of these Funds he approved as submitted. (These budget data were submitted to the board of directors on November 2k, 1959-) 2. Industry Development Fund At the request of the chairman, the secretary then reviewed the Industry Development program for i960. (Budget data sub mitted to board of directors on November 2k, 1959.) LI4C06&2 HI i Board of Directors Meeting Minutes -3- December 1, 1959 The secretary called attention to an error in the recom mended i960 budget as submitted. The change vas not in the total hut simply in a subtotal. The figure for Total Publica tions should have read $51>500 instead of $45>000. The secretary reported that a contingency fund of $30,000 had been placed In this budget to take care of promoting the results of research that may be completed during i960. The secretary also reported that this budget had been re viewed and approved by the Industry Development Committee. A motion vas thereupon made, seconded and unanimously ap proved to accept the Industry Development Fund budget of $268,800 as recommended. The secretary reported that the rate per ton established at the Industry Development Committee meeting of 39 cents per ton for raising the Industry Development Fund monies vas based on an estimate of total pig lead sales in the United States for the year 1959* The secretary stated that he believed the actual total sales for 1959 would probably be lover than estimated in. view of the statistics available to vis since the estimate vas' n made. It vas his thought that a more realistic rate per ton figure would be around 4l or 42 cents per ton. . A motion vas thereupon made, seconded and unanimously ap proved that the secretary establish a rate per ton as soon as final figures on total pig lead sales in 1959 are available and that subscribers to the Industry Development Fund be notified immediately of the rate per ton that will be required to raise the necessary funds. 3. Expanded Research Fund The chairman then requested the director of research to present his report. Dr. Radtke reported that all of the research projects and funds allotted to each of the projects had been reviewed and recommended by the various subcommittees up to and including the Technical Steering Coranittee and Industry Development Committee. (These data were submitted to the board of directors on November 20, 1959> but revised data as of November 23 were presented at the meeting.) The research director briefly reviewed the various research projects which were under way and those contemplated for i960. A motion vas made, seconded and unanimously approved that il-J the budget of $359*330 for Expanded Research in i960 be accepted. The director of research reported that to raise these monies, a rate per ton of 34 cents would be necessary. Budgets as approved are attached as Exhibit A. L 11C 01 6 3 Board of Directors Meeting Minutes -k- December 1, 1959 INVESTMENT CF RESERVES At the request of the chairman, the secretary then reported that all Invested reserves of the Association are nov In savings bank ac counts. He asked, however, with the higher yield of Gevemoent short term securities, whether consideration should be given to Investing some or all of these funds in other than savings accounts. He also stated that no research funds are now Invested, but the past year's experience indicates sizable sums always on deposit. Should sane of this be invested? * The directors discussed the various investment possibilities and were of the unanimous opinion that the Association's reserve funds should continue to be invested in savings bank accounts. . The secretary was requested to present suggestions as to the amount of research funds that can be placed on deposit in savings accounts and to present his specific reccnmendatlons at the next Executive Canmittee meeting. CONSIDERATION OF INCORPORATING THE ASSOCIATION At the request of the chairman, the secretary reported that he_ had secured legal advice as to the advisability of incorporating the Asso ciation. He stated that the lawyers see no urgent need at this time for incorporating. After some discussion, the board felt it advisable that the secretary take the preliminary steps for incorporating the Associa tion for a possible vote of the membership at the next annual meeting, if it is felt that incorporation of the Association at that time would be advisable. MEMBERSHIP--RESIGNATION OF OKONIIE CO. The secretary reported that he had received a letter of resigna tion from Ckonlte Company. A motion was thereupon made, seconded and unanimously approved that the resignation of Ckonlte Company be accepted with regret. APPROVAL OF NOMINATING CCMOTTEE HI PRESIDENT The chairman then requested, and this was concurred in by the board, that the appointment of a Nominating Canalttee for directors of the Association and for the election of officers he tabled until a new president had been appointed by the Executive Cccmittee. PIG LEAD STATISTICS . - The chairman reported that there was a considerable discrepancy in the pig lead sales as reported weekly by the "Bigineering and Mining Journal" and those reported monthly by the Lead Industries Association. He said that almost invariably less than 5 per cent of what Lead Industries Association reports monthly is included in the "Engineering and Mining Journal" figures. It was his opinion that some steps should be taken to correct the wide variance in the two sets of figures. LI A COfc 64 v3 ' ___ Board of Directors Meeting Minutes *5- December 1, 1959 i The board recommended that the secretary, in company with the chairman, discuss this situation vlth Mr. George H. Cleaver of the "Engineering and Mining Journal" to determine if there is any possi bility of the tvo organizations' figures being in closer balance. There being no further business, the meeting adjourned at 12:20 P.M. Att. n L I ACC6 Board of Directors Meeting Minutes--December 1, 1959 ORDINARY FUND * Rent and Light Moving and related expenses Hev space contingencies Salaries Social security taxes Group Insurance Furniture, fixtures and equipment Travel Entertainment and luncheons Meetings Office supplies Mailing Telephone and telegraph Dues Bocks and subscriptions Printing Pension Fund Miscellaneous and contingencies Total Ordinary Fund Budget Approved I960 Budget $10,500 3,500 1,000 30,000 700 1,200 2,000 5,000 1,000 2,500 2,100 2,500 1,500 100 300 500 13,000 2,500 $79,900 Exhibit "A" Page 1 HEALTH AND SAFETY FUND Approved I960 Budget Salaries Social security taxes Travel Entertainment and luncheons Research and research materials Office supplies Telephone and telegraph Books and subscriptions Dues Mailing Miscellaneous and contingencies Total Health and Safety Budget $17,500 300 2,500 400 2,500 500 300 600 150 500 500 $25,750 LIC06fat N 662.01 Board of Directors Meeting Minutes--December 1, 1959 INDUSTRY DEVELQPMEIfr FUND * Publications: "Lead" Architectural Flyers and Construction Bulletins Reprints Ceramic Supplements Pigment Technical Letters Sweet's Architectural & Light Construction Catalogs Sweet's Design Catalog "Lead Work for Modern Plumbing" Total Publications Publicity Conventions & Exhibits Apprentice Contest Advertising: Product Design Construction (Metals) Pigments Ceramics Total Advertising _ - _ Administrative & Technical Service: Salaries and taxes Rent Consulting fees Travel Test programs Entertainment & luncheons Meetings Mailing Association dues Telephone & telegraph Books & subscriptions Miscellaneous & contingencies Total Administrative & Technical Service Promotion of Research Results Total Industry Development Fund Budget Exhibit "A" Page 2 Approved I960 Budget $22,000 5*000 2,000 3,000 3,000 7,000 6,500 3>000 $51,500 7,500 15,000 600 12,000 10,000 9*000 10,000 41,000 85,000 7,000 3,000 17,000 1*500 1*500 1,000 1,500 500 700 500 4,000 123*200 30,000 $268,800 LI tcoe.67 r- ; . '\ Board of Directors Meeting Minutes--December 1, 1959 Exhibit "A" Page 3 RESEARCH FTJKD Research Projects: Metallurgical: IP-8-60 LP-26-60 LP-9-60 IP-7-60 IP-16-60 IP-31-60 Fundamental Investigation of Lead Powder Metallurgy Production of Lead Coated Steel Fiber-Reinforced Lead Lead Asbestos Pads for VibrationAttenuation Lead for Sound Attenuation Lead Metallurgical Fellowship at the Univer sity of Melbourne Total Metallurgical Research Approved I960 Budget $15,000 10,000 25,000 10,000 30,000 4,000 $94,000 Chemical: IP-10-60 LP-ll-60 IP-18-60 Lead Chemicals High Emission Lead Compounds Continuation of Ceramic Fellowships Lead Organic Compounds Investigation of Lead Ferroelectric Can- pounds--Ceramic Fellowship Ceramic Glazes for Lightweight Aggregate Building Blocks--Ceramic Fellowship Development of a Primer Paint Incorporating Lead Compounds and Water SolubleVehicles Total Chemical Research 36,000 4,000 24,100 20,000 . 3,000 3,000 25,000 115,100 Electrochemlcal: Fundamental Surface Characteristics of Lead Fundamental Study of the Electrochemical Behavior of Lead in Various Media In cluding Cyclic Conditions High Speed Plating of Lead Total Electrochemical Research 4,000 10,000 10,000 24,000 Undesignated Research Fund TOTAL RESEARCH PROJECTS 60,000 $293,100 (Continued on next page) LI AC utC-f Board of Directors Meeting Minutes--December 1, 1959 RESEARCH FUND (Continued) Administrative: Salaries Pension reserve transfer Group insurance Insurance and taxes Employment agency fees and moving expenses for tech nical personnel and secretarial additions Technical association memberships Travel expense Rent Moving expenses (to larger office) Direct Contingency Furniture and fixtures Printing and office supplies General . Quarterly progress reports Telephone and telegraph Postage and express -- Books and periodicals " Office services Bookkeeping fees Auditing fees Legal fees Administration advance Total Administrative Total Research Projects TOTAL RESEARCH FUKD Exhibit "A" Page 4 Approved I960 Budget $36,205 1,075 75 525 750 150 10,000 3,275 ' 750 250 1,500 1,125 1,000 1,250 750 100 500 300 250 2,500 3,900 ----- $66,230 293,100 $359,330 LIAC0fct9 i\