Document 2br06DBBM1QNQDqxGqZmL3qg

WETHERILL & BROTHER. INC. Philadelphia, Pa. January 16, 1959. In conformity with Article 17 of the By-Laws and pursuant to the action of the Shareholders at the Annual Meeting held at the offices of the company, Monday, January sixteenth, 1959, at two o'clock P. M., the Board of Directors of WETHERILL & EROTHER, INC. convened at 2tl5 P.M. on Monday, January sixteenth, 1959, in Room 601 Penfield Building, 1528 Chestnut Street, in the City of Philadelphia. The following Directors were present ! Edward F. Beale 3. French Reeves 'firm*'".being a majority of the Directors and constituting a quorum of The Minutes of the previous Meeting were read and- The Chairman, Edward F. Beale, stated that the first business to come before the Meeting was the election of Officers. The following persons were thereupon nominated for Officers of the Corporation to serve fbr one year and until their successors are chosen and shall have qualifiedj Chairman of the Board - Edward F. Eeale President Fletcher W. Rockwell Vice President S. French Reeves Secretary William H. Fisher Treasurer William H. Fisher There being no other nominations and all the Directors voted, the Chairman announced that the aforesaid and unanimously chosen as said Officers respectively. cretary and Treasurer submitted a brief report on the for the,year 1938, which report is made a part of It was further stated that in addition to the regular business conducted by the Company, cognisance should be taken of the services which are being rendered to the Titanium Pigment Corporation whose Philadelphia office is located in the Wetherill & Brother office in the Penfield Building. Meeting on motion adjourned. W. H. Fisher - Secretary. 1ETHERILL & BROTHER, IRC, CPERATlJSS - TEAR 1988 I furnish below a condensed operating statement of Wetherlll ft Brother, Inc., for the year 1958, as reflected by our Profit ft loss Statement. Ike gross figures for sales, cost of sales, etc. have been reduced to the per ton basis, and also prepared to show monthly average of sales, expenses and profit. Sales Cost of Sales Gross Profit Expn6# Set Profit 59,255. - jiaSh 9,962. 10.112. 15C. 145.00 119.0Q 24.00 ,-34t3 36 Average Per Month 4,958. 830. w. 13. Our total sales for the year 1958 were 414 tons*'- ' totalling 159,255.81, which oompare with last year*s figure# showing 445 tons valued at $75,021.60. In quantity, these total sales comprise the following! -M8L lfcite Lead (dry ft in oil) Oxides Miscellaneous 258 155 1 414 .MS. 280 180 g_ 445 In analyising the above rtatm*nt, reflecting a loss of $150.00 for the year, I believe this oon be attributed in the main to diminished gross profit, as we received less per tan for Id, while the cost of goads purchased from John T. was not reduoed proportionately. Our gross profit year was $8.00 per ton less than In 1957, while saving as they were $4.00 per ton less in 1958 (Thus, our net profit was $4.00 per ton less, resulting ` 3.00. V. H. Fisher, Secretary-Treasurer. 0000-NLI-000020087 N 2457.01