Document xdrM07Ljmbd5LDOwjZg35DZ0Q

/.. LEAD INDUSTRIES ASSOCIATION, INC. 291 MADISON AVKNUC NIW VOUK 17, N. Y. SUBJECT TO REVISION aj c u al HEsrrao op t ee h s eer s or t h s IF.AD DTOSTRIE3 ASSOCIATION, IHC. St. Louis, Missouri April 10-11, 1962 U i(H IB M * IJ g i 11jib ) iwmf W, Tbs Annual nesting of tbs members of tbs Lead industries Association, Inc. vis held on Tuesday and Wednesday, April 10-11, 1962 at ths Chase-Park Plara Hotel, St. Louis, Missouri. Members Present Representing Max Adler Clarence K. Canard Vincent E. Dorman John J. Lennon Charles Bagler Jean Vuilleque* K. H. Brownell J. C. Duck J. S. Smart, Jr. Simcn D. Strauss Chas. W. Ambler R. K. Carpenter C. H. Cotterlll Paul E. Gibbons Geo. L. Spencer, Jr. Carl A. Underhill, Jr. R. A. Young R. 0. Erickson P. H. Burless Boland J. Lapee Frank P. Barton Julian S. Bers R. J. Hopkins H. W. Halted John A. Rathjen Sidney Z. 8weet Valter G. Hlscock Reel 8. Kirby A. Y. Betbune M. E. Elmors W. 0. Hewitt Geo. A. Larson C. B. Schwab I. L. Barker David A. Bancel Ivor Thompson Allied Stoeltlng Corp. American Metal Climax, Inc. do do do do American Smelting A Refining Co. do do do American Zinc, Lead A Smelting Co. do do do do do do The Anaconda Company do do The 0. A. Avrll Co. Bers A Co., Inc. Broken Hill Associated Smelters Pty., Ltd. (C. Tennant, Sons A Co. of H.Y., Agents) do do Consolidated Zinc Corp. Ltd.) !Electrolytic Zinc Co. of Australasia Ltd.) The Bunker Hill Co. do do do do Cerro Corporation do do ~'~  *.<11 J Jill* IfW^yv W * -M'-?.*-^IM^****-*^.** **%****: '^frfMyff LIA212A3 Annual Meeting Minutes Lott E. Taylor E. H. Gautochl R. Hendricks A. V. Marcolin A. D. Turnbull A. 0. Wolff Wray D. Fannin C. S. Anderson E. A. Black John Busklrk A. A. Hama R. Kruger S. F. Miller H. 0. Riggs Cecil Bassett W. D. Atteberry 0. B. Carter E. J. Ritchie J. B. Wade Miles M. Roller J. W. Brodhacker K. W. Green M. McMullan, Jr. John R. Smyth E. R. Anderson J. A. Costello Robert D. Bradford Aubrey M. Callls R. A. Gardiner, Jr. R. A. Gardiner, IH W. P. Wilke, III H. E. Harper J. V. Hurph J. Jennings Efcnett A. Torney Willian J. Welch Henry Whitson V. J. Brazier Wb. A. Oekey Malcolm Bonynge Francis Cameron R. F. Dcciling John R. Diglehora Andrew Fletcher C. D. Henderson Charles R. Ince R. E. Jordan Carleton C. Long Donald K. Lourie Joseph A. Raising Joseph 0. Sevick J. W. Sherman John Q. Vehn -2- April 10-11, 1562 Compania Miners Asarco, 3.A. Consolidated Mining 4 Gr.elting Co. of Canada, Ltd. do do do do Day Mines, Inc. Delco Reny Div., General Motors Corp. do do do do do do Dixie Lead Co. The Eagle-Picher Co. do do do do The Electric Storage Battery Co. do do do Ethyl Corp. do Federated Metals Div.,American Qaelting & Refining 00 do Gardiner Metal Company do Hamond Lead Products, Inc. Beela Mining Co. Murdock Lead Co. (Southern Lead Co.) Rational Lead Ccnpany do do do 01 in iiathlecon Chemical Corp. do St. Joseph Lead Co. do do do do do do do do do do do do 4o ! wp^ i i ill i ;u h i j . i i .i m U f w i^ iw .w y i n _,..>^9. cKn, I^*W, Hpgq-Vftrtoi** Li A 2l2^Q < * Annual Meeting Minute* 3 April 10-11, 19^2 Jack C. Pierce Maurice Rey Benton Boyd J. George Oang* D. J. Bert* F. L. Warner Hcvard Novaeel Reuben VleDer B. F. McKinney Robert H. Quenell C. R. Willard Shattuck Denn Mining Corp. Soclete Minlere et Metallurgique de Penarroye United States Smelting Refining and Mining Co. do do do Victory White Metal Co. Byman Vlener & Son* Western Lead Product* Co. do Willard Lead Product* Co. Represented by Proxy Alpha Metal*, Inc. Dickson Weatherproof Rail Co. lead Product* Company, Inc. Martin Marietta Corporation (Metals Disintegrating Dlv.) Metalead Product* Corp. Hevaoot Mining Corp. Fhelpa Dodge Corp. Revere Copper and Braes, Inc. Sunshine Mining Co. Guest* Sholchiro Abe Edvard 0. Abel Robert Barrett Richard J. Bauer Philip R. Blanc Ezra Blount John Boomer Frank 0. Breyer Kattbev Broderick Hr. Colart C. H. Deane Too Dempsey T. L. Diamond Varady Elemer E. L. Frank Gerald Frank* D. B. Fraser Borman A. FTeytag Jake Fuegleln Arthur J. Gerval* Levi* S. Ooodfrlend Paul Outerman Paul V. Biggin* W. D. Hook Jacques Jerusalem F. R. Jeffrey Henry E. Jensen Kenneth Jones Bill Kester Miaul Mining & Smelting Co., Ltd. Minnesota Mining & Manufacturing Co. Metalworking Bevs Henning Bros. A Smith, Inc. Indussa Corporation Product* Finishing Business Week Fluor-Slngmaster Si Breyer, Inc. Allied Chemical Corp., Solvay Process Division Cle des Metaux d'Overpelt - Loooel et de Corphalie Primary Metal A Mineral Carp. Metalworking Bevs T. L. Diamond & Co., Inc. Instltuto Italieno Fiombo Zinco Philipp Bro*. Philipp Bros. Dept- of Mines A Technical Survey* Budd Co. Globe-Democrat Rational Zinc Co., Inc. Levis S. Ooodfrlend A Associate* Metal Trader*, Inc. 0. S. Tyson A Co., Inc. W. R. Grace A Co. Cle Royale Asturlenne de* Mine* Rational Zinc Company, Inc. CAD Batteries Dlv., Electric Autollt* Precision Metal Molding St. Louis Post-Dispatch '1 ' JwpjBpwggjw^ii1.1 v;,... aateraf.. 'miWftVniii'.. IA21250 i 4 Annual Meeting Minute* -V- April 10-11, 19& j T. J. Kieraan John ?. Abernethy Co. i A. H. Larsen University of Missouri Frederick 0. Lauer Bankers Trust Co. H. 0. Mason Globe-Union, Inc. C. K. Morehouse Globe Union, Inc. John Mothervay General Cable Corp. Oustav Mueller Gould-Rational Batteries, Inc. J. R. O'Connell Engineering 4 Mining Journal R. C. Parker Cocnonvealth Litharge and Red Lead Pty Ltd. R. R. Parlour Canadian Embassy Fraud* J. Felly British Embassy John C. Russell Fluor-Singnaster 4 Breyer, Inc. A. A. Bchaxt Philipp Bros. A. W. Schlechten University of Missouri Janes V. Stafford American Metal Market Joe A. Stone Division Lead Co. R. L. Stubbs Lead & Zinc Development Assns. Mortimer J. Sullivan Rational Zinc Co., Inc. folchi Takit* Mitsui Mining & Sncltlng Co., Ltd. Jim Tanner The Wall Street Journal David Veit Precision Metal Molding V. C. Wansbrough Canadian Metal Mining Assn. Erlan Wilson Steel Magazine Clark L. Wilson Doergency Lead Zinc Coras. R. V. Wolf University of HI ascurl J. 21merman Miles Metal Corp. Ooverrment Representative* Harlan P. Bramble H. M. Callaway Robert W. Geehan W. W. Bopton H. G. Iverson H. Kenworthy Joseph C. McCasklll Fred Ketzeband J. A. Rowland Donald Sham Richard H. Spencer Paul Zinner Dept, of State Dept, of Interior U. S. Bureau of Mine* Dept, of Interior U. S. Bureau of Mine* U. S. Bureau of Mine* Dept, of Interior U. S. Bureau of Mine* U. S. Bureau of Mine* Dept, of Camaerce U. S. Bureau of Mine* U. S. Bureau of Mine* LeadIndustries Association Staff Robert L. Zlegfeld, Executive Vice President David M. Borein* Bruce Fader Don Fowler Edwin J. Martin Jerry Smith Robert Travis j r( r. <**&**&*" ., ***/VC'd `f.-m L "f A- Z 2 5 1 Annual Meeting Minute* -5* April 10-11, 19o2 Expanded Research Prograa--LIA-AZI Staff A. R. Cock S. X. Eck Louis Kettler 3. f. Radtke The minutes of the previous meeting of May 2-3, 19^1 wore circulated to members after that meeting and no changes or corrections vere received. The president welcomed ths participants at the meeting end made the following remarks: Welcome to the Sth annual Joint session of the American Zinc Institute and Lead Industries Association. It is also the 44th annual meeting of American Zinc Institute and the 34th annual meeting of the Lead Industries Association. The purpose of these Associations and their Expanded Research Pro gram Is to promote present and new usee for lead and zinc. The acccrspllshment of this task has become more complex, more challenging, and, of course, more expensive. But our competitors - substitute materials - are ever more and more aggressive and spend more and more money. I am confident that the lead and zinc Industries In their cooperative programs to increase the consumption of the two metals are doing this part of their marketing Job more effectively and far, far cheaper than some of their competitors vho employ solely the individual company, rather than the Industry, approach to their many marketing problems. The two broad disciplines in running any business seem to me to be to produce as efficiently and cheaply as possible, with due regard to the balancing of production with sales, and to market the production as effectively as possible, having always In mind competitive factors within the industry and the interplay of alternative materials. If these two broad disciplines are properly observed there should be a fair return on the capital employed In the business. In the first discipline, the lead and zinc industry has been only partially successful. It has done veil its mining, milling and metal lurgical beneficlatlon where costs have been kept at a minimum by efficient processes and research. It has developed a good product. But in the balancing of production to consumption the Industry has done poorly. For example, in the Free World, over the five year period 1957 to 19^1, about 750,000 tons of lead and 550,000 tons of zinc were produced In excess of consumption. This was about 5/^ of the total pro duction. Some of this excess vent to the U.S. Government stockpile and it may fervently be hoped that it will stay there. But too much of it vent Into stocks In the hands of producers which are depressing lead and zinc prices. At last reckoning these stocks vere about 450,000 tons of lead and 330,000 tons of zinc. These are total stocks In the bands of producers. Bov much of these stocks are excessive Is not jxibllshed. trfivwA. vewV-'WJTOupwu.1.. , r.-iaj rmsD i,mi;.,)> vmmn a apt y 1 LTAZ1252 Annual Meeting Minute# -6- April 10-H, 1962 But excess stocks are substantial and therefore the near-tern outlook for better prices is not bright. The International Lead end Zinc Study Croup has had a number of meetings to grapple vith this problem. This Group has had, I think, good success in improving the statistics available, although such yet remains to be done on this score, but has not yet been able to accomplish the real remedy which, in ny opinion, can only be curtailment of Etna and smelter production to a rate permitting fairly quick disposal of the excess stocks and thereafter production in line ulth demand. Long ago the copper industry realized that the health of Its industry depended on avoiding overproduction. During the period 1957 to 19^1 pro duction and consumption of copper in the Free World were in balance. This was brought about partly by voluntary curtailments of production by the largest and most efficient producers even though less efficient and smaller producers operated at capacity. I believe that this pxslicy of individual copper producers has revarded then by relatively stable and fair copper prices. They avoided depleting their nines at unremuncratire prices. But in lead and zinc the thinking appears to be different - at least in scoe quarters. It has been published in the press that certain pro ducers here and abroad Intend to maintain capacity production or to increase production because or despite of the depressed prices. This may be an effective corrective to the excessive stocks and to overpro duction but it Is certainly the most p>alnful to producers and their stockholders and the period of adjustment vill be lorg. Such a policy in this day and age could easily result in complete government control of production, distribution and prices. In the second broad discipline the lead and zinc industry has come a long vay. It established its Exp>anded Research Program in 1953 end it has increased its activity and effectiveness in the other areas of marketing. Consumption of the two metals in the lilted States has been disappointing. Over the period 1957 to 19&1 lead has shown a decline where as zinc has Just about maintained its position. But outside of the lilted States there have been good Increases, not comparable perhaps with other materials like alumlntsa, or copp>er, but nevertheless a picture of solid, though not spectacular, growth. The lack of growth In the United States Is not limited to lead and zinc; it applies also to ccrppcr, steel and other materials and manufactured products. But on & Free World basis the consumption of lead and zinc has been increasing and I believe that a share of the credit for these in creases or for retaining scoe of the markets which might otherwise have been lost, belongs to ERP, LIA, AZI, and the many development associations in foreign countries. The current consumption figures are good. The business outlook abroad, while not as dynamic In Europe and Japan as in recent years, con tinues to promise improvement in nearly all countries. The improvement i yt.v- -.V > '--. t^'`.^--^TP<|t***'--'*-5.i**r*- -------LIA?1253 Annual Meeting Minute* -7- April 10-11, 1962 In the United State* has teen le than spectacular tut appear* to be olid, though gradual. If vr can maintain our general econctolc picture' at a steady rata of growth, 1J&? should be a good consumption year for both metal*. REPORT 07 KOMWATISO COMMITTEE FCR DIRECTORS Mr. Ivor Thocpson, chairman of the nominating Coendttee for th* Board of Directors, reported for his Committee, composed, In addition to himself, of Messrs. Fran* Barton, C. E. Bassett and Jack C. Pierce, and placed In nomination the following slate: Julian Bers R. D. Bradford D. R. Carter J. A. Costello V. H. B. Cranaer '..'ruy Porpln K. W. Green r. B. Buries* C. R. Inc* J. A. Martino C. 0. Rice C. E. Schwab S. D. Strauss Jean Vulllequet V. P. Wilke, HI Bers & Company, Inc. Federated Metals Division, American ftoelting and Refining Company The Eagle-Picher Company Ethyl Corporation Bev Park Mining Company Day Mines, Inc. The Electric Storage Battery Company Anaconda Sales Company St. Joseph Lead Company Rational Lead Company U. 8. Smelting Refining and Mining Company The Bunker Hill Company American Smelting and Refining Company American Metal Climax, Inc. Kflgmond Lead Products, Inc. There being no further nominations, the slate was unanimously elected. REPORT 07 THE SECRETARY-TREASURER The secretary-treasurer reported to the membership oa the 1961 activities and plans for 19^2- His report for 1961 was circulated to members on March 26, 1962 and the staff report presented at the meeting Is avail able on request. REPORT 07 THE RESEARCH DIRECTOR The research director and his staff and seme of the research con tractors reported on the progress of the various research projects. ADDRESSES AT MEEH30 The following talks were delivered at the annual meeting: Lead and Zinc--A fertile field for Promotion......... R. L. Stubbs, DirectorGeneral, Lead Development Assn., and Zinc Development Assn., London Seme Process and Assembly Innovations in the Lead-acid Battery......... Ear. C. K. Morehouse, vice president. Globe Battery Dlv., Globe Uhlon, Inc. Mju m t f g y .................in I\ ! m j J P'inw iwy.i'Wf.ww P fi fgw y in iJ M j i L I ? Z 1 ?. 5 4 .* . 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