Document MGnayoKoEdb2m78RpaZJYQe7V

m<m> mymumyiu. mtnWifPEagpwfP^^ '---................... ................ - LEAD INDUSTRIES ASSOCIATION 410 UONOTON AVKNUK NEW YONK 17, N. V. - - --- -- ............. April 18, 19li9 To Meabers of the Iced Industries Association! SUBJECT! High tights of Annual Meeting The enclosed copy of press release concerning the recent snnusl acuting of the Issociation In Chicago alii serve to give you * brief suasary of what transpired at the aeetlng. Conplcte proceedings of the Meting are being printed and we bopo to be able to send you a copy within a few weeks* ery truly yours. O I 1 wjJJUMl JW'.J '.uJJi JU'IWiWP ipnw--Ml I HHHI imini l!liliwwa--w 2A8^1 lU tub ifcnfcmmftilifa*ftHff*aiS*i I'lrM'iir t-rnTttm * ~1-,, ir---- For Immediate rtlim April 8, 19U9 Lead Industrie* Association ti?0 Lexington Avenu* New York 17, N.T, 'i 9 1 At the annual business meeting of the Lead Industries Association held at the Drake Hotel, Chicago, on April 8, the members unanimously re elected the Board of Directors, as follows. Noman Hickman K. C. Brownell Clarence Glass S. A. Easton A. E. Bendelarl J. H. Schaefer E. L, Newhouse, Jr. L. E. Hanley J. P. Ruth J. A. Uartlno 0. N. Friendly F. E* Normser James Ivera J. V. Hade George fixter The American Metal Co. Ltd. American Smelting A Refining Oo. Anaconda Sales Co,, Agents, Tnternatlonal Smelting A Refininr; Co. linker Rill A Sullivan Klnlng A Concentrating Co. Eaglo-Pleher Co. Ethyl Corp. Federated iktala Division of American Smelting A Refining Co. Hccla Klnlng Co. The Olidden Co. National Lead Co. Park Utah Consolidated Idrves Co. St. Joseph Lead Co, Silver King Coalition Vines Co. Tintle Standard fining Co, United States Smelting Refining A Mining Co, Inc. Officers ware reelected and are as follows! F. E. Rormser, president K. C. Brorncll,, Tic* president J. A. Uartlno, Vice Prcrtd-nt The Executive CoccitUu, appointed by the Board of Directors, Includes the officers, as veil as L L Hanley, president, H*da Mining Company and Ocorg* Viator, vice president of the United States Smelting Refining & Mining Co. Inc* Froeilnent representatives of the lead Industry not yesterday in Chicago to discuss the load production outlook as wvll as the outlook for soae important lead products. This tlnely review of lead's position In the rapidly changing metal market was tho subject of the ?lst annual meeting of the Lead Industries Association. 3u*..g ..g-gi --ra i wf ivi.wm--ew'^^w^rwywvww o N 1784.01 kl.. m i diiwBfgiwpiWNwww^ iij u iit w L IA 2 A 89 2 ^P^f1 nHi i W IJ IIJ I I !Ill iiim w w w ^l p w iW |O W v m w ^*m m w w e n 'w ^iM Ji il ' n ' i ..M |W nJ M ii in r "* -k-- * >..ii.,M;>iiai^.>],ii.< -2Tn his opening remarks, Felix E, Tormaor, president of the Association O and rice president of tho St. Joseph Lead Company, Mew York, pointed out that *A free market, operating in the American system of free enterprise, has brought about a swift correction of the serious world-wide lead shortage," The first session at the one-day closed meetii* held at the Drake Hotel, at which sligntly over one hundred members were present, cowered the domestic and foreign supply position of lead, This session was presided ower by F. S. Mulock, vice president, United States Smelting Refining A Mining Co. Xne., Salt Lake City, Utah. Tho first speaker, Mr. J. B. Heffner, general sunagar. Bunker Rill and Sullivan Wining and Concentrating Co., Kellogg, Idaho, stated that, "It is doubtful if any year exceeded 191*8 in the amount of capital invested in new mining or milling plants. In rehabilitation of old plants and in intensiflod and widened exploration in the northwest aros, all of idaieh were directly duo to the high price for lead. There are drawbacks now facing the mining industry of tho northwest in the fora of almost punitive taxation, declining metal prices, high cost of labor and supplies and the tariff situation. Mr. T. A. kardlaw, Jr., general manager. International Smelting A fining Company, Salt Lake City, Utah, fo-lt that the srirket condition In load is rapidly reaching a point where mine production in the Utah and southwest ares will be ap preciably adversely affected, particularly with respect to the maintenance of proper exploration and development work. He also cited figures to show ths sub stantial increase* in mine production between 191*6 and 191*8 in virtually every state In the area under discussion. Mr. Francis Cameron, vice president, St. Joseph Lead Company, Mow fork, re viewing ths lead production figures in the mldwestcrn and eastern states, stated that if thsy can look forward to a period of profitable metal prices, there is little dcubt that their mines can continue to sustiln for same y.iars to c o m their present rets of production. *v T? ^ 1*24893 'iiikm iii -3yr. R. T. Ooodwin, vice president, American Saelting & ttoflning Company, o New fork, (poke on the international In id production outlook. Reviewing world load production, he pointed out thit Increased production now in prospect should balanc* decreases due to exhaustion of known nines and the suspension of operations of marginal nines unable to operate profitably at lmwer prices. Foreign lead for the next two or three years should approximate 850,000 tons, the sane as the estimated world production for 1?U8. Hr. Ooodwin described the precarious position of the inert car. Investor in nany foreign countries, pointing out tho onerous taxation and unfair exchange regulations employed by nany of then which served virtually to stifle many potential sources of lead. While nany nations have failed to respond to the overtures on the part of this country to develop their resources nany others, in cluding the British Colonies and Danlnions, have encouraged foreign investment* by not placing barriers on the payment of dividends or Interest in dollars. In same cases, tax concessions were nade to foster the investment of nine capital. $ According to Uarc S. Goldsmith, president. Goldsmith Bros, Smelting and Refining Company, Chicago, the- importance of secondary lead production is Indicated by the fact that in twenty years, it has grown from under one-third to over one-half of the entire domestic lead production. Despite recent indications to the con trary, the secondary market price is not beeoeiinr independent of the primary market. When the lead market eventually finds a balance between supply and demand and a mors normal price level, the addition of a timely calculated stockpiling program should again find the primary and secondary markets working lnterdcpenduntly* At the present tlae, according to Ur. Ooldirdth, forces are at work which ladicata that the future secondary lead market will hold closer to the p: lmary market price and will, like the primary market, gradually develop a more steadying influence oo price. The two main reasons for this are, (1) that better scrap distribution channels have been organised that will not be as exposed to speculative hoarding or dumping, and (2) that secondary lead will not be so exclusively dependent upon the fluctuating destand of the battery industry because s such larger percentage of soft Tm* JWEVJ e L1A24894 mm* tf^rtTitM--IT * linYVrtrf rnSm lfnrtfmrt i'jftTr Trtlfclih m -1 - lead and corroding lead of highest purity are now being produced directly from scrap battery plate* to meet the dan and of most other lead consumer*. Therefore, with a steadier scrap supply and a sore varied consulting demand, secondary production should not be exposed to such market extremes as it has in the past. This weans that there will eventually be a nor* harmonious relationship between secondary and primary production and price which trill Inevitably benefit the entire load Industry. Dr R. B. VeCorsdck, Chief of the Nonftrrous Metals Division of the Munitions Board, Washington, D. C., spoke about the functions of his office In the defense pro* gram and particularly about the part played by lead. Operations of the Oovcrnaxmt Stockpiling Program were described, along with an outline of the viewpoint of the Munitions Board on subsidy and related legislation. The afternoon session covered the outlook for some Important lead products and was presided over by Ur. D. A. Uerson, vice president of the Rational lead Canp*T, Mew Tor*. Discussing the outlook for lead in cable- ihesthtr.g, Jt, K. Spofford, purchas ing agent. The Okonite Company, Psssalc, U.J., stated that "Constant changes in the requirements for eiectrlc cables hat resulted In nost cases In * reduction In the asount of lead sheathing necessary." He also went on to describe several newer dovilopstAtit* which art being tested and whleh require no lead covering. a v* 1 ewsiwaM m !is ipjpgeigMppRMI LIA2A895 -..W, -**Swa-i.~ittr> mi rfTarn.n i?-! ..'fwviftr. - 5- Vr J. H Schaefer, vice president, Ethyl Corporation, Baton Rouge, La., stated that iihwi the demand for gasoline is lose than the production capacity, then competition, together with cutcmobils englno lmprovcmenta, fore** a steady in* crease in the antiknock quality, resulting in an lncreass in the demand for tctre athyl lead which In a period of lesa than twenty years ha* crown to be one of the fire or six largest load consumers. To cope with the increasing demand for tetra ethyl lead, the Ethyl Corporation plans to expand lta production facilities v.ry aubetantlally durlnf 191,9 and 1?50. lfr. W. p. Carroll, aanager, petal Departeent, Rational Lead Canpany, Row fork, in discussing the outlook for extruded and rolled lead products cited in stance* where Inroads were Bade in the use of lead In the chemical and process in dustries by substitute materials taking advantage of the high lead price. jy com parative testing and proper education, it is hoped that the nteber of substitutes classed *1 competitive from the *tanapoint of Serviceability may bt materially re duced. Also, tV 33 percent decline in tho leal price will help to curtail tha use of ruch substitutes, particularly- in the case of water s-rvlces. Since the' storage battery industry accounts for bc-twe-n ono-half and two-thirds of the 1<ad oxide sale*,* U. U. Toller, vie preside-nt, fhs EaglwPicher Sales Cocpary, Cincinnati, Ohio, ctated that, "the well being of th* latter is largely dependent on th* well being of the forcer. Substitute* for lead oxides have been gaining in th.- Ceraalc industry. L-.ad oxide* bav. been gaining or hold ing their own in the pottery and insecticide field." Rr. Toller cited th cooperativs efforts of the Red Lead Jvchnieal C<rmlttcs of tho Lead industries Associ ation, vhieh are devoted to tho development of improving red \*ad paint. Tha Best proalslng outlet for load oxides appear* to be shown by the- television industry which depends to a lrg extent on leaded glass. lum wgl WWP*-- mewi.nwpwi^^nwiwn? n <; \_I^2^8qb '-"'- II an I Mil iniiifT"*! r invr5dl'ii1^i'-`-!->mi<iii-~ ------ - %f-5 ---ua.-it-i^i.' -L--...--.e--e-- -6In discussing the decline In the voluna of white lead uaage, kr. A. IU Knight, manager, Euston U-ad Company, Scranton, ?a., blamed the high price of pig lead for placing white lead virtually out of the paint pigment narkot. Even with lower lead prices, ho felt that the original white lead market could scarcely be regained In view of the intcrla development of substitute materials. ltr. A. K. Callis, general sales manager, Federated Petals Division, American Smelting and Refining Company, Sew fork, in discussing the outlook for mlxeq metals stated that despite tin. abnormally high price of tin and load, pro duction In 19VT -Td 19uS was high. In 19U8, solder production Increased 25 per cent over that of 19U6 and babbitt 13 percent, while type metal sales declined 18 percent In the saae period, Noteworthy is the fact that two-thirds of the in crease in solder costs was due to increases In tin costs. The decline In type metal sales was due, Ur. Callis felt, to the printing industry's use of type which normally would remain unused in standing form, -hen prices rise. Instead of buying new type, the industry stabilises Its metal cost by utilising old type In this manner, Kr. H. A. Harvey, vice president, tuto-Lltc mattery Corporation, Klagara Falls, u.T. and president, Association of American Battery Uanufacturers, Inc., in discussing the outlook for storage bctte-rles stated that expectation* of the in dustry until Ally *re for low production and tale* of re-ilaceaent batteries, which. Incidentally, constitute 00 percent of automobile- battery production. Con siderable progress should bo made ty then toward the reduction of high inventories so that promotion and tales will probably be close to the peak years of 19ti719U0, Anticipated sale* and production increases, however, would represent a de cline of 20 perCeTit or more- for the curr>t year, compared with 19U7 and 19l8. With plentiful supplies of batteries, the battery industry has gone back to th* old tradition of a flat spring Season and a fall peak deaund which should pull the tattry business out of the slump for thu third quarter. Jir. Harvey empha- i!r--v BMW! ` 4jMWP ii mmmm* .... LI&2A897 'nsrtfirrtifti -g*.^--- - 7died that claims for the cadmium battery are wholly unjustified. It 1 deflnitoly unsuitable for automobile uso because of the poor performance at low tempera tures and excessive site, weight and cost for equal capacity, furthermore, cad mium Is a scare* and costly sietal which is not available in quantitive sufficient for any considerable battery production. The following plants of menbtr companies were visited the following dayi Federated Metals Division of the American Smelting and defining Company, at Thltlng, Indiana, and the D.S.S. Load Refinery at East Chicago, Indiana, < y . ie ni . n i i InV 0 A III I i .I.u,i)l.'pi