Document 3GVDnNoarXZgjJRqxrQ6zVBJ

Qf NATIONAL LEAD COMPANY h e l d a t III Br o a d w a y , Ne w Yo r k Cit y , Tu e s d a y , Ma y 24, 1955, a t 11:15 o 'c l o c k A. M.- pr esent L. T. Be a l e W. V. Bu r l e y A. H. Dr e w e s J. A. Ma r t in o D. A. Me r s o n H. C G. L. Ra t c l if f e J . H . Re id Win t h r o p Sa r g e n t , H. T. Wa r s h o w W. J . We l c h W I LDNER Jr ABSENT Mr . J . A. Ta y l o r Th e Pr e s id e n t , J. A. Ma r t in o , a c t e d a s Ch a ir ma n OF THE MEETING, AND J. B. HENRICH, ACTED AS SECRETARY. A SUMMARY OF THE MINUTES OF THE LAST PRECEDING me e t in g h e l d Ap r il 21, 1955 w a s p r e s e n t e d a n d u p o n mo t io n , t h e HEADING OF THE MINUTES OF THE PREVIOUS MEETING WAS WAIVED, AND THE MINUTES WERE UNANIMOUSLY APPROVED. Up o n mo t io n s e a c h d u l y ma d e a n d s e c o n d e d , t h e FOLLOWING RESOLUTIONS WERE UNANIMOUSLY ADOPTED: RESOLVED, Th a t t h e a c t io n s o f t h e Ex e c u t iv e Co mmit t e e a s s e t f o r t h in t h e min u t e s o f it s me e t in g s o f Ma y II, a n d Ma y 18, 1955, s u b mit t e d a t THIS MEETING AND INVOLVING EXPENDITURES AND APPRO PRIATIONS o f $803,437.73, b e a n d t h e y h e r e b y a r e APPROVED . RESOLVED, Th a t Div id e n d No . 113 o f $1.50 a SHARE ON THE CLASS B PREFERRED STOCK OF THE COMPANY, BE AND IT HEREBY IS DECLARED PAYABLE FROM SURPLUS Fu n d a n d Pr o f it s o n Au g u s t I, 1955, t o s t o c k h o l d e r s o f r e c o r d a t c l o s e o f b u s in e s s Ju l y II, 1955. RESOLVED, Th a t a o iv id e n d o f 500 a s h a r e o n t h e $5 p a r s h a r e s o f t h e Co mmo n St o c k o f t h e Co mp a n y NOW AUTHORIZED AND OUTSTANDING, AND STILL OUTSTAND ING ON THE RECORD DATE HEREIN FIXED, BE AND IT HEREBY IS OECLARED, PAYABLE FROM SURPLUS FUND AND ,Pr o f it s o n Ju n e 29, 1955, t o s t o c k h o l d e r s o f r e c o r d AT CLOSE OF BUSINESS JUNE 6 1955. 0000-NLI-000022027 (BOARD OF DIRECTORS Ma y 24, 1955) Up o n mo t io n d u l y ma d e a n d s e c o n d e d , t h e f o l l o w in g RESOLUTION WAS UNANIMOUSLY ADOPTED! RESOLVED, Th a t t h e p r o p e r o f f ic e r s o f t h is Co mp a n y a n d o f it s f o l l o w in g w h o l l y -o w n e d s u b s id i a r ie s : Na t io n a l Le a d Co mp a n y o f Ha w a ii; Na t io n a l Le a d Co mp a n y o f Oh io ; Na t io n a l Le a d Co mp a n y o f Ma s s a c h u s e t t s ; Un it e d Le a d Co mp a n y ; Ame r ic a n Be a r in g Co r p o r a t io n ; Ma g n u s Me t a l Co r p o r a t io n ; Ma g n u s 3r a s s Mf g . Co mp a n y ; Do e h l e r -Ja r v i s Co r p o r a t io n ; b e AND THEY HEREBY ARE AUTHORIZED AND DIRECTED TO MAKE, EXECUTE AND DELIVER IN THE RESPECTIVE NAMES OF AND ON BEHALF OF THIS COMPANY AND OF ITS AFORESAID WHOLLY-OWNED SUBSIDIARIES, AN APPROPRIATE LETTER f o r m o f Re q u e s t f o r Re n e g o t ia t io n o n a c o n s o l id a t e d BASIS FOR THE YEAR 1953. Up o n mo t io n , t h e me e t in g t h e n a d j o u r n e d 0000-NLI-000022028