Document e5dka4zjBqvYMdjYZvO5yMng

k&fj&r*'-' '. a -J, / ' - ' -Vv *i i 1 iTi' Pah' i TTrlflaijii wwfc m ~i'il 'u ! i f(tL rn ii--A vBfc. LEAD INDUSTRIES ASSOCIATION Graybar building, 420 laxlngton Avnnv* N*w York, K. Y, JelT 10, 193b, To Hashers of ths Load Indoatrlae JL,*oelation: Attached herewith plan.*, find a draft of tha roao- lutlou in support of tha uoa of tha normal stock *thod of calculation of profit* and lnraatory volantIon for oorcorata ad tax popoMi, which dlffora froa tha wording of too ?aao> lutioa auhadttad to you uadar data of Juna 26. tha attached draft 1* Is tha fora which tha Ooppar Inntltut* la now eoaaldarisc for adoption ty It* on aaohors. till you kindly lot aa know whathar thia fora aaeta with your qpprovalt laipactfully your*. Sacratary. i ` vr^Tiwufw July 10, 1936. 1HZZU5, la certain Industries, exon* others, the refining end fabrication of bo b ferrous Betels, the use of e heslo normal Minina stock carried *t fixed prices Is * veilrecognised, accepted accounting practice shlch, lo the opinion of executives ead accotntsBts connect*! ith those Industries, aost cleerly reflects Income, IDS, T&ZSUORX, 2S XT HXSOLTJB, Shat the lead Zadustrlee Association approves the use of a basic normal minimum stock carried at fixed prices as clearly reflecting the Income of smelters, refiners, processors mad fabrlcatore of lead ead elmller metale and respectfully re quests and urges the United States Bureau of lateraal Beveaue to permit under regulations Issued hy It the use of this or similar methods of valuing Inventory aad costing sales in the computation of taxable Income for purposes of United States federal Income tax, ae aa optional alternative to the method previously used, B IT warn BXSOLTO that the officers of this Association he, aad they are, hereby authorised to sufeadt copies of this resolution to each public ead private bodies ad agencies ae any member of this Association may request.