Document 1yDdxy88E485EM1pa5EzoEgrE
MINUTES OF MEETING MCA EXECUTIVE COMMITTEE The Links Club, New York City
Tuesday, February 8,1972
Following breakfast at 9:00 a.m. , the meeting was called to order by Chairman Dawson.
There were present:
David H. Dawson, Chairman John W. Brooks John T. Connor William J. Driver William B. Graham T. G. Hughes
James E. Magoffin Max A. Minnig Charles S. Munson George W. Russell F. Perry Wilson James R. Carnes
General Counsel:
Lloyd Symington
1. Financial Report for Eight Months Ended January 31, 1972. Mr. Carnes reported that income for the eight months ended January 31 was$1, 776,440, approximately $58, 000 short of the budget estimate for the entire fiscal year. However, anticipated additional income from investments of $43, 000, supplemented by publication sales, should lift income slightly above the budget estimate of $1,835,000 by the end of the fiscal year. Transferred to income in January was $14, 188 representing net income from the Semiannual Meeting last November. This was approximately $1,800 more than earned from the previous year's meeting.
Expenses for the eight months were $1,062,407 or approximately 83 percent of the prorated budget for the period. With the forthcoming payment of annual retirement plan costs and the usual increased rate of expenditures on projects as the end of the fiscal year approaches, this percentage of expend itures to budget is expected to increase. In addition to the current budget ex penses reported,. $62, 875 was expended from project funds brought forward from previous years.
All staff departments have operated within both their operating ex pense and project budgets.
2. Proposed Schedule for Regional Meetings of the Board of Direc tors and Association General Meetings. Furnished to those present and sum marized by Mr. Carnes was the following proposed schedule of meetings for Fiscal Year 1972-73.
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1/
November 21,--1972""
New York City
Semiannual Meeting
March 12-13, 1973
2/
April 9-10, 1973--
3/ June 7-9, 1973"
Houston, Texas
Regional Board Meeting
Washington, D. C.
President's Reception and Board Meeting
White Sulphur Springs, West Virginia
Annual Meeting
1 / Executive Committee and Board Meetings to be held on previous day.
2/ Joint Meeting of Executive and Finance Committees to be held on April 9.
3/ Executive Committee and Board Meetings to be held on June 6.
It was reported that firm scheduling of the Houston Regional Meeting would have to await confirmation by the Board of Directors of the Texas Chemical Council in April after which it was proposed to place the schedule* on the agenda for the May MCA Board meeting. Following discussion, it wars agreed to recommend to the Board of Directors that the proposed schedule be approved and that the October 1972 Board Meeting should be scheduled on the regular meeting date, October 10, the day following the new Monday legal holiday for Columbus Day.
3. Proposed Rules of Organization and Procedure for Economic Policy Review Committee. Furnished to those present and summarized by Mr. Driver were proposed Rules of Organization and Procedure for the Economic Policy Review Committee. Mr. Russell reported briefly on the most recent meeting of the Committee and on the progress being made with its program. Thereafter, it was agreed to recommend to the Board of Direc tors at its March meeting that the proposed Rules of Organization and Proce dure be approved.
4. Proposed Research Program on the Carcinogenic Potential of Vinyl Chloride. Furnished to those present and summarized by Mr. Driver was a description of a proposed research program to investigate the carcino genic potential of vinyl chloride estimated to cost $350, 000 and developed by an ad hoc group of interested company representatives. The project would be administered by MCA and funded from voluntary subscriptions of interested companies. If the required commitment of funds to support the project is forthcoming, a specific project proposal will be presented for approval by the Board of Directors. Following consideration, the proposed project was ap proved for planning purposes, subject to later presentation of a specific pro posal to the Board for final approval after the necessary funds have been subscribed.
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