Document xd6q1gxVqNoVajaEGL4mrK186

New York, N.Y. BOARD OF DIRECTORS MEETING December 5, 1955 A meeting of the Board of Directors of the Lead Industries Association was held on Monday, December 5, 1955, at 12:00 noon, at The Bankers Club, New York, N.Y. PRESENT REPRESENTING Andrew Fletcher, Chairman Jean Vuillequez S. D. Strauss K. W. Green J. A. Costello E. L. Newhouse, Jr. Clarence Glass J. A. Martino F. S. Mulock St. Joseph Lead Co. The American Metal Co. Ltd. American Smelting and Refining Co. Electric Storage Battery Co. Ethyl Corp. Federated Metals Division American Smelting and Refining Co. International Smelting and Refining Co. (Anaconda Sales Co., Agents) National Lead Co. United States Smelting Refining & Mining Co.Inc. OTHERS J. J. Lennon W. B. Clancy D. A. Merson W. J. Welch C. M. Chapin, Jr C. R. Ince N. R. Taylor The American Metal Co. Ltd. American Smelting and Refining Co. National Lead Co. n tt it St. Joseph Lead Co. n n tt United States Smelting Refining & Mining Co.Inc. Robert L. Ziegfeld, Secretary-Treasurer Manfred Bowditch, Director, Health and Safety The meeting was called to order with Mr. Andrew Fletcher in the chair. The minutes of the previous meeting of April 27, 1955, were approved. REPORT OF THE SECRETARY The chairman requested the secretary to report briefly on the activities of the Association during the past year. His report is attached as Exhibit "A." REPORT OF THE TREASURER The chairman then stated that the report of the treasurer for the first ten months of the year had been circulated to the Board and is attached as Exhibit "B," with reconmendations for the 1956 budgets. It was stated that approval of these budgets would probably mean no increase in the rates of sub scription per ton because of the increased tonnage in 1955 as compared with 1954. After some discussion, the budgets for 1956 were approved as recommended, and follow: LIA005A? Board of Directors Meeting Minutes -2- Deceraber 5, 1955 BUDGET -------- 1956 APPROVED BUDGET TO BE SUBSCRIBED FROM OTHER SOURCES TRANSFEES FROM INDUSTRY DEVELOPMENT FUND FROM RESERVES Ordinary Fund $99,500 $76,000 $19,000a $ 4,500 - Safety and Hygiene Fund 24,000 20,000 - - $4,000 Metallic Lead Products Fund 40,000 9,000b - 23,000 8,000 Pigments and Chemicals Fund 15,000 5,500b - 9,500 - Ceramic Fund 17,000 - - 15,000 2,000 Radiation Shielding Fund - - - - - Industry De velopment Fund 57.000 -52,000d -5,000e TOTAL $195,500 $167,500'- $19,000 $9,000 a. $16,000 from Metal Powder Association and $3,000 from interest and miscellaneous sources. b. From manufacturers only. c. No appropriation pending completion of survey. d. Transferred to other funds. e. Added to reserves. OFFICE LEASE The lease on the Association*s office space was then considered. It was pointed out that when the lease expired on April 30, 1955, it was decided to renew for only one year, with the thought that the Association might get together with the American Zinc Institute in joint space when both leases ex pired on April 30, 1956. The building is asking an increase from $5.00 to $6.32 per sq. ft. for the 1,804 sq. ft. of office space, qnd from $2.56 to $2.82 for the 117 sq. ft. of storage space. It was decided that the matter should be left with the management to get full information together for a decision of the Executive Committee in January. L I A -.46 Board of Directors Meeting Minutes n t< -3- December 5, 1955 APPLICATION FOR MEMBERSHIP CONTINENTAL SMELTING & PIEFINING CO. The application for regular membership in the Association of the Continental Smelting and Refining Co., 7751 West A7th Street, McCook, 111. was considered and the Company was elected to membership. 1958 ANNUAL MEETING It was agreed that the annual meeting of the Association in 1958 should be held jointly with the American Zinc Institute in St. Louis, at the Chase and Park Plaza Hotels, provided similar action were taken by the Board of the American Zinc Institute. NOMINATING COMMITTEE The Board appointed the following Nominating Conmittee for the Board of Directors at the next annual meeting of the Association: T. G. Stover F. A. Wardlaw, Jr. D. A. Merson Western Electric Co. Inc. International Smelting & Refining Co. National Lead Co. Meeting adjourned at 2:00 P.M. L IA 005 4 S $oard of Directors ike ting Minutes Exhibit "A." December 5, 1955 REPORT 07 THE SECRETARY In ny opinion, 1955 was ono of the most active and progressive years in the history of the Association* For the first tine in its existence an Industry Development Fund has been created, subscribed by the sellers of pig lead, to be used for any technical and promotional activity which the Industry Development Connittee deems worthy of support, A Technical Steering Committee was established to guide the Association in technical matters and to pass upon the technical soundness of any research or development activities# As a result, at least four new activi ties were undertaken during the year# A Cable Sheathing Committee of experts in that field was appointed, met twice, and worked out a program of cooperative research with manufacturers of coxytinuous extrusion presses to perfect continuous extrusion of lead alloy cable sheathing. This brought into being a program to protect lead*s market as a cable sheathing material as recommended by the secretary five years ago# Also, a Ceramics Committee, composed of mombers best versed in tho use of lead in ceramics, was organized, met twice, and now has most of tho first draft cf a complete Manual on tho use of lead in coramics prepared, Tho growing use of load in porcelain enamol for aluminum was the spark which brought the program into being at this time although such a program was first recommended four years earlier. (Tho secretary displayed a porcelain enameled cast aluminum cooking utensil which h'^' just been placed on the market by Club Aluminum, and was tho latest in a series of developments concerning porcelain enameled aluminum, which requires about UO per cent of load in tho onamel,) Porcelain enameled aluminum is now used on mary of the new Navy ships, in tho interiors of Now Yorkis now subway cars, and on tho extorior of at least three^or four large buildings,^ A survey of tho market for load as a nuclear shielding material is in progress by Walter Kiddo Nuclear Laboratories for the Association, with a report on the first phase of this work duo around the ond of the year# Tho Industry Dovolopment Committee has approved the use of sufficient funds from its fund to increase the publication of LEAD from two to four times a year, as recommended on sevoral occasions in tho past# tion. There has been no major change in the statistical services of the Associa Thore aro a numbor of activities which do not come to tho attention of the mombers but are important to tho industry. Economic inquiries from such sources as tho First National City Bank, Chasc-Manhattan Bank, Bache A Co., and other finan cial institutions, magazines and colleges are received regularly. Also, the Associa tion prepared mary articles on lead for various publications in the interest of dis seminating accurate information. Examples during the past year are a chapter for an economic geography toxt book, being edited by a professor at Dartmouth University, one for an Encyclopedia of Chemistry being prepared fcy a professor at the University of Illinois, one for the Encyclopedia Americana, and for the National Lexicographic Board. The Association assisted in the preparation of articles for the Architectural Graphic Standards and Specifications, a high school text book entitled, BA New World of Chemistry," and an Encyclopedia called, nOur Wonderful World," The Association prepares annual reviews for such magazines as ENGINEERING k MINING JOURNAL, STEEL AND IRON AGE. LIA005 5C N 634.01 Exhibit "A" -2- December 5, 1955 Through the Information Bulletins sent to the Association members, attempts are made to keep the membership informed of tho activities of the Association and to r^i: call to their attention developments in the industry of which they might not other wise be aware* I am pleased to note that tho American Zinc Load & Smelting Co., and Pend Oreille Minos & Metals Co., have become regular members of the Association during tho past year and that Tsumeb Corp,, although not appearing as a member, is sub scribing to the Association^ activities on the same basis as other members# Referring to tho Safety and Hygiene Division of the Association, I feel that tho importance of these activities are often underestimated. A large amount of work that the Association is doing is in tho interests of uniform warning label ing of lead products. This involves close watch of state and local regulations before they are issued, which is largely accomplished through friendly relations with the various authorities involved* An example is the General Services Adminis tration's regulation that would have required on tho label for lead oxides a warning to wear a dust mask. Since this did not conform with good practice or regulations already adopted by other jurisdictions, the Association was able to have this un reasonable requirement removed* This problem of childhood lead poisoning should also not be undorstimated. Our work on this subject in Boston is being continuod but under a now arrangement which has cost tho Association very little money during 1955, and will continue similarly in 1956* A report about to be issued by tho Society of the Plastic Industries, in }_ its original form, contained unfoundod statements dorogatory to the use of lead stabilizers in plastic pipe. Close relationship with mary of the industrial hy gienists involvod in this project has made it possible to eliminate these unfounded statements. Tho Committee of the American Standards Association, having to do with the allowable limits of load in the atmosphere, of which our health and safety director is chairman, is now working on an upward revision of tho allowable limits which should rosult in savings in cost of vontilation equipnent both to members and to their customers* Tho stuefcr conducted for tho Association by the Harvard School of Industrial Health for the Navy on the welding of rod lead painted stool and the continuing tests of rod lead water tank interior paints which had been successful in having tho Amy withdraw its objection to tho use of these paints, should also be montioned* An example of tho far reaching effects and ramifications of the safety and hygiene work of the Association was an inquiry recently received from the Sun Chemical Co*, which had been making a certain product, used for textilo coating, in stainless stool or glass lined vessels# The Company wished to convert to tho use of load lined vessels but it found that the product would bo contaminated by one part per million of lead. The Company wished to know whether this amount of lead in the product would cause dermatitis if the coated textiles wore worn, or lead poisoning if they were chewod by children. Because of tho reputation established ^ by the Association in this field they wore reassured and will undoubtedly use the \ load linod tanks on tho basis of factual information supplied by tho Association* LI4C0551 Exhibit 3 December 5, 1955 The Association continues to issue Safety and Hygiene bulletins to its nombors as occasion warrants in order to keep members posted on developments in tho field of lead hygiene# Referring to the Metallic Lead Products Division, a new printing of 5,000 plumber's toxt books has been made during tho year, 6,000 previously printed having boon distributed* Sales are now at tho rato of 1,000 to 1,500 copies per year and practically all of the original printing cost will have been recovered when tho now edition has been sold* Field work among plumbers has boon continued but it has been found neces sary to do work directly with architects and builders not only on load plumbing materials but other lead products which enter construction of all types* Since a competent man with architectural or construction experience may bo added to the staff, tho work of this Division will bo intensified among architects and builders. The Association has proparod a number of specifications for architectural uses of lead, one of which, for chemical laboratory wastes, tables, troughs, otc*, was issued early in tho year* Although only in mimeographed form, it was well re ceived and 120 inquiries were roceived for it immediately after its mention in LEAD. Other specifications are roaty for issuance* Plumber's Forum continues to be published on a semi-annual basis* We were given complimentary exhibit space at the International Apprentice Contest of the Plumbers Union and a member of the staff was judge of the lead work. In chemical construction several bulletins were issued for members, uni versities, construction companies and the like, and a number of articles were pre pared for CHEMICAL ENGINEERING, and INDUSTRIAL &. ENGINEERING CHEMISTRY. A member of the staff has been extremely active in the National Association of Corrosion Engineers and has become recognized as a corrosion expert* This staff member has continued to lecture at various colleges when tho opportunity arises aixl presented a paper on the Testing of Lead Chemical Equipment at the National Metal Congress* A Committee, composed of representatives of four member companies, and chairmanned ty a member of the staff, has almost completed the Soldering Handbook* to be published by the American Welding Socioty* The Pigments and Chemicals Division devoted most of its activities to red lead paints. Tho Red Lead Technical Conmittoo met soveral times during the year, two additional Red Lead Technical Letters are in preparation, one being in the hands of the printers at the present time. To cite an example of the value of these Letters, the Standard Oil Co* of Calif*, selected a paint from an earlier Letter, and after its own tests, has adopted it as standard for all its structural steel priming. Lists of Inquiries, resulting from these Technical Letters, are sont to tho red lead member manufacturers each month. This Division has also developed new prints for galvanized surfaces which should bo publicized within the next few months. This has the possibility of open ing an extensive new market for red lead paints* L I AC05 5? Exhibit "A" -U- Decembor 5# 1955 A project is also under way to study tho bohavior of rod load formulations with a number of new vohiclos that have boon developed* The Association has continued to support tho Stool Structures Painting Council, which gets its principal support from tho American Institute of Stool Construction, and is represented on both the research and oxocutivo connittoes of tho Council* LI4C0552 gig co o S 3E 55 II CM UN 88 8 IA\A UN UN 33k O o% rH ir\ un 888O' I \A I UN \A\A * v CM CM CM CM rt o le l5 i CA ^* *v <n h CM CM vO un UN UN S' <: e-< fi s CD n u o Pc o S3 o to e S o5 CD X r\ u CO Hz 3o nz H3 ft. CJ 3 8 UNUN | s ^ UN Ov O 8 * \r\ o 8 vr\t <n^ v CM VO H rH o CO J DO 8o_ oo UN UN 8 > v i H i-3 VO O VO rH CVI t*- Os co pf rr\ rn c m CM C E*3 Z <z mC 5fc =; CO oo o v CM o O oO I PJ CM 1 8 P* CM 8 8o o ^ , pf O -3 CM CM CO CM o 8 " i *> qv Ov vO rH o UN UN CO CO o UN il Tv\ u-\ Os CM rH UN SBoc, -Bo 3UN Ov e rH 1 UN 0 o UN UN p to UN Ov &.** P. T3 Ov D. t, T3 H P <5 aap O o p u3 ft! E-c O SS CD H CVI CA- UN vo r- r rH vO UN Ov 4 V 0 O 3 CD T3 5 P (2 Ov 8 8 UN v * i O UN UN III CM UN UN rH O 8 8UN UN V <v NO UN Ov UN * CM UN UN 8 3UN vl UN 0 rH 9} 1 < ^ O S 8 v to H o. o c 5 s. p < % UN VO 8 8 P? Os rr\ CM CM CM CN 8 CO o CM CM O CM 8 o V co PJ I 8 -3 CM -f n IH u 5 vO 8 H rHt ooo r pf! E E o 6 CM O ^O UN v O MD Pf Ov Ov UN C- H Ov 8 UN v Ov Ov vO UN Ov CM rH Os UN If UN 3 Ov UN UN Ov rH sUN S'Ov rH H rH <0 I C *o g0) CA p ap "Si9 VO UN Ov rH I a & 3VO 83 K vO UN Ov o 53 UNj p n Ov a p t, h <H on rH 6 CD a 5 T> P to <3 g 5z o K, V o o CO P 8 d! ft! 3 Ov S3 CM CA rH UN VO N 634.02 (a ) See in d iv id u a l fund F in a n c ia l Statem ent f o r d e ta ils BUDGET DATA ORDINARY FUND (INCLUDING SAFETY AND HYGIENE) It is estimated that Ordinary Fund expenditures for 1956, to continue operations without any major change, would have to be in creased approximately $10,000, This increase is primarily brought about by the establishment of the Pension Fund, which will require about $7,000 to maintain in 1956, and an increase in office rental after April 30, 1956, which has been asked by the owners of the Graybar Building. In addition, the Industry Development Fund has recommended a transfer of $4,500 from the Industry Development Fund to the Ordinary Fund, to increase the frequency of publication of our magazine, LEAD, from semi-annually to quarterly. This, however, would entail no increase in cost to the Ordinary Fund itself. It is recommended that there be no change in the approved budget of the Safety and Hygiene Fund for 1956 of $24,000. Ac tually only $20,000 was spent in 1955 out of this Fund, which added C4,000 to its reserves. This was largely due to the fact that arrangements were made for continuing our research at the Childrens Hospital in Boston on childhood lead poisoning, at practically no cost to us. This will also be true in 1956, but we have requests to give moderate support to other research ac tivities on lead poisoning, which are being thoroughly investi gated from a medical standpoint and which would appear to be meritorious. In 1955 total subscriptions to these two funds amounted to $93,000. By drawing from the reserves of the Safety and Hygiene Fund to the extent of $4,000, thereby returning the reserves of this Fund to their January 1, 1955 level, total subscriptions for 1956 should be about $96,000, which would maintain the Ordinary Fund reserves at their present level of $50,000. Subscriptions, therefore, would have to be increased only $3,000 despite the increase in costs. Because of the in creased volume of business done by members in 1955 it is prob able that this small increase in subscriptions will result in no increase in the rate per ton. Receipts from the Metal Powder Association, interest on savings accounts, and sale of publications, is expected to be about $19,000 in 1956, the same as in 1955* l_ 1 f C 3 - 5 f ORDINARY FUND Financial Statement January 1 to October 31, 1955 and Estimated Full Year Expenditures . Jan* 1 to Oct. 31 Estinatod Full Year Rent and Light Furniture, Fixtures and Equipment Salaries Social Security Taxes Travel Expense "LEAD" Printing Mailing Office Supplies Association Dues Entertainment and Luncheons Meetings Telephone and Telegraph Books and Subscriptions Illustrations Miscellaneous $ 7,31*0.19 621: .38 1*3,831.77 751* .1*5 5,1*01*.09 2,1*76.12 766.36 91*1.06 1,228.19 113.00 31*9.1*8 1,330.71 1,095.78 313.32 97.70 1,61*8.15 $ 8,930.00 750.00 52,820.00 950.00 6,500.00 l*,i*co.oo 780.00 1,200.00 1,600,00 300*00 1.000,00 1,500.00 1,500.00 1*20.00 150.00 2,000.00 Total Expenditures 68,811*. 75 81*,300.00 Balance, Jan. 1, 1955 Less: Bad Debts 1*7,067.93 1*00.00 $ 1*6,667.98 1*6,667.98 Receipts Subscriptions (Full Year) Less: Outstanding Subscriptions Metal Powder Association "Lead in Modern Industry" Interest os Savings Accounts 69,521*.00 - 71*6*75 68,777.25 12,000.00 96.1*3 - 69,52l*.00 16,000.00 100.00 2,300.00 Less: Expenditures Advances and Deposits 68,811*.75 2,650.00 127,51*1.66 71,1*61*. 75 13l*,591.98 81*, 800.00 Balance, Nov. 1, 1955 Reserve for Pension Fund Total Balance, Nov. 1, 1955 56,076.91 1*9,791.98 78,961.90 Est* 70,961.90 $135,038.81 Jan. 1, 1956 $128,753.88 Cash Cash Savings Accounts 1*5,551*.56 89,1*81*. 25 36,969.63 91,781*. 25 $135,038.81 $128,753.88 L^C0^^7 SAFETY AND HYGIENE DIVISION Financial Statement January 1 to October 31, 1955 and Estimated Full Year Expenditures Jan. 1 to Oct. 31 Salaries Social Security Taxes Travel Expense Printing Office Supplies Mailing Telephone and Telegrroh Books and Subscriptions Research Meetings Association Dues Illustrations Entertainment and Luncheons Miscellaneous $13.758.1:9 208.72 8oil, 18 77.10 72.09 129.77 163.1*2 18a.51 31*7.10 3.00 59.50 11:9.70 271.37 U16.06 Total Expenditures = $16,705.01 Balance, Jan. 1, 1955 $2i*,i*70.1*3 Receipts Subscriptions (Full Year) 21;,000.00 1*8,1*70.1*3 Less: Expenditures Advance 16,705.01 300.00 17,005.01 Balance, Nov, 1, 1955 $31,1*65.1*2 Estimated Full Year $16,380.00 220.00 1,200.00 80,00 100.00 160,00 2 00o 00 250.00 5oooo 10.00 150.00 200.00 ilOO.OO 550.00 $20,1*00.00 - $21*,1*70.1*3 21*, 000.00 1*8,1*70.1*3 20,1*00.00 Est. Jan. 1, 1956 $28,071* .1*3 7) LIACOP 5P BUDGET DATA METALLIC LEAD PRODUCTS FUND The recommendations made for this Fund in 1956 have been approved by the Industry Development Committee and the prin cipal member contributors to the program among lead products manu facturers. It involves reductions in subscriptions from manu facturers and in transfers from the Industry Development Fund in proportion to the total subscribed from these sources, to make subscriptions in 1956 $32,000 compared with $37,000 in 1955* Expenditures, however, are recommended at $40,000 compared with $37,000 in 1955. It is, therefore, intended that $8,000 should be drawn from reserves in 1956, an amount equal to what was added to - reserves in 1955. The addition to reserves this year were_due to the fact that certain increased activities recommended for 1955 were not put into effect due to our inability to find the right man in the architectural field at a salary which we were able to pay. It is hoped that with the small increase in reconmended ex penditures reconmended for 1956, we will be able to find the right man and place the program into operation promptly. It would in volve continuance of our field work in lead plumbing and in the lead chemical construction which have been carried on for a number of years, and the addition of a concentrated effort in the entire construction field through the addition to our field staff of a competent architect or practical construction man. LI AC 05 59 METALLIC LEAD PRODUCTS DIVISION Financial Statement January 1 to October 31, 1955 and Estimated Full Tear Expenditures Jan. 1 to Oct, 31 Salaries Social Security Taxes Travel Expense Mailing PLUMBERS* FORUM Association Dues Entertainment and Luncheons Meetings Telephone and Telegraph Illustrations Office Supplies Printing Books and Subscriptions Apprenticeship Contest "Lead Work for Modern Plumbing" Miscellaneous 9,050.30 166.53 6,300.81* 226.50 1,61*1.58 172.00 569.71* 513.90 130.60 61*.93 26.31* - lit.21 71.17 600.62 3,912.16 160.73 Estimated Full Tear 010,880.00 170.00 8,000.00 300.00 3,200.00 200.00 700.00 600.00 150.00 100.00 5o.oo 50.00 150.00 600.00 3,900.00 200.00 Total Expenditures $23,601*81 $29,250.00 Balance, Jan. 1, 1955 Less; Bad Debts 16,209.00 - 770.00 $15,519.00 $15,519.00 Receipts Industry Develop, Fund (Full Tear)1 Subscriptions (Full Tear) 10,806.00 Less; Outstanding subscriptions - 75.50 26,500.00 10,730.50 26.500.00 10.306.00 "Lead Work for Modern Plumbing" 913.01* 970.00 Less; Expenditures Advance Balance, Nov, 1, 1955 23,601.81 350.00 53,662.51* 23,951.81 $29,710.73 Est, Jan. 1, 1956 53.795.00 29.250.00 $21*, 51*5.00 LltC056C BUDGET DATA PIGMENTS AND CHEMICALS FUND The recommended budget for this Division has been approved by the Industry Development Committee and the principal member manufacturers producing; red lead for paint. It is recommended that both subscriptions from such manufacturers, and the transfer from the Industry Development Fund be the same as in 1955* and that expenditures in the same amount as 1955 also be approved. r~\ This would permit continuance of the work of the Red Lead Technical Committee and the publication of Red Lead Technical Letters and publicity material, as in the past, and since the full approved budget was not spent in 1955* would also permit a moderate increase in the publicity activities. It is felt that this program has been highly successful in the past and should not be disturbed. O u LIAC0561 PIGMENTS AND CHEMICALS DIVISION Financial Statement January 1 to October 31, 1955 and Estimated Full Year Expenditures Jan 1 to Oct. 31 Consulting Faes Salaries Social Socurity Taxes Travel Expense Telephone and Telegraph Meetings Printing Illustrations Research Material Books and Subscriptions Mailing Office Supplies Miscellaneous !t 250.00 5,325.78 128.73 386.91 9.71 31*.00 111.71 92.63 1,010.09 20.65 32U.73 96.50 1U3.1*5 Total Expenditures 7,931*. 89 Balance, Jan. 1, 1955 $ 3,01*7.11* Receipts Industry Develop. Fund (Full Year) Subscriptions (Full Year) 5,688.00 Less: Outstanding Subscriptions - 1*1*.25 9,500.00 5,61*3.75 Estimated Full Year $ 315.00 6,360.00 11*0.00 500.00 15.00 70.00 2,600.00 100.00 1,010.00 5o.oo 1,1*00.00 31*0.00 200.00 13,100.00 ' $3,81*7.11* 9,500.00 5,608.00 Less: Expenditures Balance, Nov. 1, 1955 Reserve for Research 10,990.09 19,035.11* . 7,931*.09 13,100.00 Est. 11,056.00 Jaifc 1, 1956 $ 5,935.11* 1,750.00 Cash Balance, Nov. 1, 1955 $12,806.00 BUDGET DATA INDUSTRY DEVELOPMENT FUND Subscriptions to and transfers from the Industry Develop ment Fund as recommended for 1956, have been approved by the Industry Development Conmittee. It Is estimated that receipts to this Fund will be about $5,000 higher in 1956, without increasing the rate of subscription of 71 per ton, due to increased sales of pig lead by members in 1955* The transfers approved by the Conmittee for 1956 are $23,000 to the Metallic Lead Products Fund, $9,500 to the Pigments and Chemicals Fund, $15,000 to the Ceramic Fund, and $4,500 to the Ordinary Fund for the publication of two additional issues of our publication, LEAD. It is estimated that this Fund will have a balance of about $15,500 after making these transfers, which may be used during the coming year for further activities in the field of radiation shielding, or for other purposes as the occasion warrants. For example, the Association has organized a Cable Sheathing Conmittee of cable producers which has met twice and has outlined some possible research activities. It is not known at this tine whether any money, or how much money, will be required for the future operations of the program planned by this group. BUDGET DATA CERAMIC FUND This Fund is financed entirely by transfers from the Industry Development Fund and was approved in 1955 to the end of 1956 by both the Industry Development and Executive Committees of the Association. It, therefore, appears that it needs no formal ac tion by the directors at this time. It should be said, however, that considerable progress has already been made in getting these activities under way. A tech nical committee of the best ceramic experts in our own industry has been organized and met twice, and the preparation of a complete manual on lead in the ceramic industries is well under way. BUDGET DATA RADIATION SHIELDING FUND In 1955 an appropriation of $2,500 from the Industry De velopment Fund was approved by both the Industry Development and Execu tive Committees of the Association, to engage outside consultants to make a preliminary survey on the market for lead in the field of radia tion shielding. This survey is now under way by Walter Kidde Nuclear Laboratories, Inc., and a report is expected around the end of the year. No recommendations for further expenditures are made at this time. It is expected that when the report has been received and given careful study, further appropriations may be considered. LIAC0563 FINANCIAL STATEMENTS January 1 to October 31, 195$ and Estimated Full Year INDUS TOY DEVELOPMENT FUND Expenditures Jan, 1 to Oct* 31 Estimated Full Year Transfers to* Metallic Lead Products Division Fund Pigments & Chemicals Division Fund Ceramic Fund Radiation Shielding Fund $26,500.00 9.500.00 3,000.00 2.500.00 $26,500.00 9.500.00 3,000.00 2.500.00 Total Expenditures 1*1,500.00 la,500.00 Receipts Subscriptions (Full Year) Plus: Subscriptions in Advance 51,032.00 221.50 $52,053.50 051,832.00 Less: Expenditures Balance, November 1, 1955 1*1,500,00 Est. 1*1,500.00 Jan, 1, 010,553.50 1956 010,332.00 CERAMIC FUND Expenditures Jan, 1 to Oct, ;31 Estimated Full Year Consulting Fee Travel 0200.00 79.98 0800.00 200,00 Total Expenditures 0279.98 $1,000.00 Receipts Transfer from Industry Development Fund 03,000.00 03,000.00 Less: Expenditures Balance, November 1, 1955 279.98 02,720.02 Est. 1,000.00 Jan. 1, 1956 02,000.00 RADIATION SHIFT!)TNG FUND Expenditures Jan. 1 to Oct, :31 Estimated Full Year Shielding Survey Total Expenditures Receipts Transfer from Industry Development Fund - 02,500.00 2,500.00 $2,500.00 $2,500.00 Less: Expenditures Balance, November 1, 1955 02,500.00 Est. JdHi lj 1956 2,500.00 -- LI C05bL