Document 15Bx56nJZe6wr2Q6gYVOLjmn5

j'limiteg of' Meeting of EXECUTIVE COMMITTEE held Wednesday,. November 20, 1948, at 10{15, o '.g Hq ^AJL---------- PKESEETsMessrs. Rockwell, Croft, Garesehe, Scatty, Martino, Simon and Warshow (fr. 0. Bates, Secretary) ABS1M9 Mr, Rowe The minutes of the meeting of Sovember 13 1946 were duly approved. Upon, motion the following applications for appropria tions were unanimously approved; $ 4S?48.2X; 2,24l.8li 2S 038,76; 5,930.00s 53,000,00s 2,322,00; -The Panada Metal Company.', Ltd.,...; purchase of 3-ton. Chevrolet cab and chassis, Toronto. 0Mcago,,Braa,di Gverespend!ture, repairs to outside building wall of stack yard building, Southern. Works, Thr chase of Buick ip-door sedan, Rational lead Company of Massachusetts; repairs to 1585 extrusion press, Titanium Division -4 Savreville Plant" installa tion of wells #13, 14, 15, 16 ana #3 pump in #2 Booster .Station, BuhernaX Water System. Titanium Division St, Louis Plant; renewal sulphide feed tank, Upon separate motions duly made and seconded the follow ing resolutions were each unanimously adopted; BJSSOXjYED, That this Committee recommends to the Board of Directors the acceptance of the offer of Canadian Industries Limited to sell to this Company at a price of $738,000, with, adjustment for earnings in 1946, the majority interest of said Canadian Industries Limited in Canadian Titanium Pigments Limited, as outlined in letter of Hovemher 1,SB 1946 from President Fletcher W, Rockwell to the Directors of Rational Lead Company, EESOLyEDj That this Committee recommends to the Board of Directors the. adoption, of a resolution that the officers of the Company and all Branch and Division. Managers he authorized and directed to pay as of December 1, 1946- to each employee in the Company1s service on Hovemher 30* 1946 ii 0000-NU-000039070 lH-19'8? (EXECUTIVE OOMMlEEEii - HoVember 20, 1946) (excluding officers and directors of the parent company) extra compensation equal to 5-1/2$ of the salary or wages up to a maximum of $3*000.00. recgiTed 'by such eaiplQiyees. in .the. flrsf alpren months of'l946s apd g 'further rppo^pn&abiphi. that liifp. aafion bp t&Jaan op tpe pajatr of;' each' whodllyoifiaed subsidiary1 In the Uhl ted States and Gahsda. Upon motion the meeting then adjourned. j;|h 0000-NU-0000390U