Document 0JMDqd4Oj5aX1dk2w0g6xb39k

MINUTES OF MEETING OF EXECUTIVE COMMITTEE HELD MONDAY, JANUARY 8, 1968, at 10:00 o'clock A.M. PRESENT: Messrs. Martino, Henrich, Johnston, MacGuffie, Merrell, and Rowley (J. A. Martino, Chairman; T. P. Mesick, Secretary) PRESENT BY INVITATION: Mr. P. C. Muccilli The minutes of the meeting of December 29, 1967, were duly approved. Upon motion, the following applications for appropria tions were duly approved: Contributions $ 3,500.00: Membership Dues for Year 1968 in the American Mining Congress. 300.00: Contribution to Engineering Career Day Committee. 4,096.47: Membership Subscription to Lead Industries Association, Inc., from January 1, 1968 to March 31, 1968. Manufacturing Committee 190,987.00: Fifty-six (56) Automotive Vehicles - (Net Cost - $123,271.00). 152,600.00: Fourteen (14) Industrial Trucks - (Net Cost - $127,805.00). 47,966.00: Ten (10) Trucks - (Net Cost - $39,175.00). 4,987.00: Atlanta Branch; Overexpenditure, Relocation of Laboratory and Installation of Spectrograph, Atlanta, Georgia - Expiration Date - January 8, 1968. Chicago Branch 5,265.00: Purchase of Snow 2-Spindle Vertical Drilling Machine for Screw Machine Department, Chicago, Illinois - Expiration Date - April 30, 1968. 180,000.00: Purchase and Installation of 3 Acme 1-5/8-Inch RB-8 Screw Machines, Chicago, Illinois Expiration Date - January 31, 1969. EN-4375 (EXECUTIVE COMMITTEE - JANUARY 8, 1968) $ 79,822.00: 12,015.00: 5,570.00: , . :2 000 00 3,159.00: 2,311,765.00: 6,363.00: 35,132.00: Doehler-Jarvis Division Provide Additional Facilities for Zinc Production, Toledo No. 1 Plant, Ohio - Expiration Date July 31, 1968. Building of Holding Furnace for 2,000 Ton Aluminum Casting Machine, Toledo No. 2 Plant, Ohio - Expi ration Date - April 30, 1968. General Office Legal Services of Murphy and Murphy for period June 15, 1967 to December 31, 1967. Retainer Fee of Murphy and Murphy for Legal Services for period January 1, 1968 to December 31, 1968. Pacific Coast Branch; Purchase of 1968 Ford 4-Door Ranch Wagon, Lynwood, Washington - Expiration Date - January 31, 1968. Research Laboratories; Hightstown Research Labora tories Budget for 1968, Hightstown, New Jersey. Titanium Division - Sayreville Plant Installation of Nuclear Density Measuring System for Crude TiCl - Expiration Date - March 31, 1968. Alterations to A, B and C Line Gas Cooling Towers Expiration Date - June 30, 1968. The Committee approved the recommendation of the Manu facturing Committee for the scrapping of No. 3 acid plant pump tank of the Titanium Division at St. Louis, Missouri, for the sum of $750.00. Upon motion duly made and seconded, the following resolution was unanimously adopted: RESOLVED, That the President or a Vice President of this Company is hereby authorized and directed to make, execute and deliver in the name of and under the seal of this Company an Agreement for the Sale of Real Estate covering approximately 6.49 acres of land on 0000-NLI-000021292 EN-43/b (EXECUTIVE COMMITTEE - JANUARY 8, 1968) Wyckoffs Mills Road, in the Township of East Windsor, County of Mercer, State of New Jersey, as more par ticularly described in said Agreement, in consideration of the sum of five thousand dollars ($5,000.00) per acre; and the Secretary or an Assistant Secretary of this Company is authorized and directed to affix the seal of this Company to said Agreement and to attest the same. Upon motion duly made and seconded, the following preamble and resolutions were unanimously adopted: WHEREAS, BARDID INTERNATIONAL, S.p.A., of Rome, Italy, a subsidiary of National Lead Company, may from time to time require assistance in connection with the obtaining of financing from BANCA COMMERCIALS ITALIANA, Rome, Italy; NOW THEREFORE IT IS RESOLVED, That this Corporation assist its afore said subsidiary in obtaining such financing for the period from December 1, 1967 to October 31, 1968, up to a maximum amount outstanding at any one time of Lire 155,000,000 at 6% interest per annum, and in connection therewith, pledge for the aforesaid period U.S. Dollar Deposits of $250,000,00, to bear interest at the rate of not less than 5% per annum, and execute such guarantees or other documents as may be required by BANCA COMMERCIALS ITALIANA; and be it further RESOLVED, That the President or any Vice President, or the Treasurer or the Assistant Treasurer is hereby authorized to do such acts and execute such documents as may be required to effectuate the foregoing purposes. Upon motion duly made and seconded, the following preamble and resolutions were unanimously adopted: WHEREAS, BAROID INTERNATIONAL, S.p.A., of Rome, Italy, a subsidiary of NATIONAL LEAD COMPANY, may from time to time require assistance in connection 0000-NLI-000021293 (EXECUTIVE COMMITTEE - JANUARY 8, 1968) with the obtaining of financing from CREDITO ITALIANO, Rome, Italy; NOW THEREFORE IT IS RESOLVED, That this Corporation assist its afore said subsidiary in obtaining such financing for the period from January 1, 1968 to November 30, 1968, up to a maximum amount outstanding at any one time of Lire 88,750,000 at 6% interest per annum, and in con nection therewith, pledge for the aforesaid period U.S, Dollar Deposits of $142,000.00, to bear interest at the rate of not less than 5% per annum, and execute such guarantees or other documents as may be required by CREDITO ITALIANO; and be it further RESOLVED, That the President or any Vice President, or the Treasurer or the Assistant Treasurer is hereby authorized to do such acts and execute such documents as may be required to effectuate the foregoing purposes. Upon motion duly made, seconded and carried, the following resolutions were unanimously adopted: RESOLVED, That The Chase Manhattan Bank, N.A., (hereinafter called the ''Bank") as a designated depositary of this corporation be and it is hereby requested, authorized and directed to honor all checks, drafts or other orders for payment of money drawn in this corporation's name on its NATIONAL LEAD COMPANY, 111 Broadway - EXECUTIVE PAYROLL ACCOUNT - 910-1-092683; CENTRAL PAYROLL ACCOUNT A-910-2-001709; CENTRAL PAYROLL B-910-2-001642 and CENTRAL PAYROLL C-910-2-001717 (including those drawn to the individual order of any person or persons whose names appear thereon as signer or signers thereof) when bearing or purporting to bear the facsimile signature of Archer D. Sargent, Assistant Treasurer; and the Bank shall be entitled to honor and to charge this corporation for all such checks, drafts or other orders for the payment of money, regardless of by whom or by what means the actual or purported 0000-NLI-000021294 EN-43/8 (EXECUTIVE COMMITTEE - JANUARY 8, 1968) facsimile signature thereon may have been affixed thereto, if such facsimile signature resembles the facsimile specimens from time to time filed with the Bank by the Secretary or other officer of this corpo ration; and FURTHER RESOLVED, That the previous authorization of Thomas F. Owens to sign by facsimile signature or otherwise against the aforesaid accounts is hereby rescinded; and FURTHER RESOLVED, That all previous authorizations for the signing and honoring of checks, drafts or other ordeis for the payment of money drawn on the said Bank by this corporation are hereby continued in full force and effect as amplified or amended hereby. The Committee ratified and approved the investments made during the week ended January 1, 1968, as set forth in the list attached to and made a part of these minutes. Upon motion, the meeting then adjourned. Secretary 0000-NLI-000021295 INVESTMENT OF SURPLUS FUNDS TO MR T P VESICK.SECRETARY DATE January 5, lQfifi t will be appreciated if you will obtain Tf^nvestments f during the NAME week ended Executive Committee approval for the 3r..i _ FACE AMOUNT PRINCIPAL ACCRUED INTEREST following purchas-es TOTAL DUE DATE TAX* BL! HAS I3 The Chase Manhattan Bank, N. A. 5 1/2? Certificate of Deposit "Repurchase date: 1-2-68 General Electric Credit Corp. 5 1/2? Note Commercial Credit Corporation 5 1/2? Note National Lead Company 1 3/8? Debentures 2,000,000. 1,800,000. , , .1 000 000 19,000. lit,915.00 2,000,000.00 2-1-68" 5-0 1,798,900.00 1-2-68 5.50: 999,236.11 1-2-68 5.501 196.27 15,111.27 1-1-88 12.22 For Amos-Thompson Corporation: Kane County, Illinois School District #129, 1 3/1? Bonds I , .25 000 21,330.50 31.03 21,361.53 12-1-68 7.692 I C. ADDRESSEE 3 MESSRS. MARTINO HEMRICH' JOHNSTON MAC GUFFIE ROWLEY MERRELL OWENS 0000-NLI-000021296 l APPROVED BY EXECUTIVE COMMITTEE ON lilt. 7 T. P. MESICK SFCRETARY