Document 3QvQrG69jKMOrKmzD1JEXjgk6

MINUTES OF MEETING OF EXECUTIVE COMMITTEE HELD MONDAY, OCTOBER 14, 1968, at 10;00 o'clock A.M. PRESENT: Messrs. Rowley, Henrich, Johnston, Martino, Merrell, and Oriing (E. R, Rowley, Chairman; T. P, Mesick, Secretary) PRESENT BY INVITATION: Mr. A. V. Bender The minutes of the meeting of September.25, 1968, were duly approved. Upon motion, the following applications for appro priations were duly approved: Contributions $ 3,603.85: Membership Subscription to Lead Industries Association, Inc. - Assessment #4. 7,062.50: Dues for Quarter Year Ending December 31, 1968 in the National Paint, Varnish and Lacquer Association, Inc. 54,724.00: Manufacturing Committee; Thirteen (13) Auto mobiles - (Net Cost - $32,793.00). 9,700.00: Barber Die Casting Co. Limited; Purchase of Holding Furnace and Installation of Aluminum Die Casting Machine, Hamilton, Ontario, Canada - Expiration Date - November 30, 1968 . The Bunting Brass and Bronze Company 7,970.00: Installation of Mold Weight Shifter Mechanics Toledo, Ohio - Expiration Date - November 30, 1968. 17,885.00: Replacement of Screw Machines, Toledo, Ohio Expiration Date - November 30, 1968. Canadian Titanium Pigments Limited 9,700.00: Reinforcement of No. 2 Calciner Steel Shell and Replacement of Approximately 18 LF of Refractory Lining at Feed End, Varennes, Canada - Expiration Date - October 30, 1968. 6,815.00: Purchase of Safety Equipment, Varennes, Canada - Expiration Date - December 31, 1968. 0000-NLI-000021314 EN-4455 $ n Lj (EXECUTIVE COMMITTEE - OCTOBER 14, 1968) 1,449.00: 13,140.00: 32,379.00: 6,206.02: 2,500.00: 137,000.00: 43,600.00: 27,400.00: 28,620.00: 18,047.00: ` 16,000.00: 35,000.00: * ``-.-'Vi- . . ^ --V * ,,vv , v ~i r - * Doehler-Jarvis Division Overexpenditure, Purchase and Installation of Two Sweco Vibro-Energy Finishing Mills, Grand Rapids, Michigan - Expiration Date October 14, 1968. Purchase and Installation of" One Fume and After Burner Hood on Aluminum Remelt Furnace, Toledo No. 1 Plant, Ohio - Expi ration Date - November 30, 1968. Purchase and Installation of One Wheelabrator Corp. ''Tumblast" De-Burring Machine, Toledo No. 1 Plant, Ohio - Expiration Date December 31, 1968. General Office Services of Pehle, Luxford, Riemer, Schlezinger & Naiden from 6/1/68 through 9/30/68 - $5,700.00; Reimbursable Expendi tures through 9/30/68 - $506.02. Retainer for Wilentz, Goldman & Spitzer: for the period October 1, 1968 to September 30, 1969, Hightstown Research Laboratories; Purchase of MS-702 Mass Spectrometer, Hightstown, New Jersey - Expiration Date - October 31, 1969. Hoyt Metal Co. of Australia Pty. Ltd.; Instal lation of New Solder Extrusion Press and Associated Plant, Sydney, New South Wales, Australia - Expiration Date - June 30, 1969. Lakeshore Die Casting Limited; Purchase and Installation of One Kozma 14,000 Pound Aluminum Melting Furnace, Guelph* Ontario, Canada - Expiration Date - October 31, 1968. Metal* Division " Purchase and Installation of* 4 New Horizontal Rod Casting Machines, Chicago, Illinois - Expiration Date - March 31, 1969. Installation of New Topping for Concrete Slab, Perth Amboy, New Jersey - Expiration Date -/ December 31, 1968. * - -V Mining and Exploration Department * ,' Tungsten Exploration Costs, La Gloria Mine, Sonora, Mexico. " '/ 4. Copper Exploration Costs, Greenlee County, Arizona. ' '7 -V' ,, - . - #AtX, Vi X 0000-NLI-000021315 INVESTMENT OF SURPLUS FUNDS TO MR T P MESICK. SECRETARY 44SUI* d at e October 10, 1968 It will be appreciated if you will obtain Executive Committee approval for the following purchases of investments during the week ended October 7. 1Q68--- NAME FACE AMOUNT PRINCIPAL ACCRUED INTEREST TOTAL DUE DATE INTCttCS TAXA8. BAS> U. S. Treasury Bonds 5 Repurchase 10-3-68 Repurchase 10-7-68 Repurchase 10-8-68 5/8%: 1,000,000. 1,000,000. 1,000,000. Chrysler Corporation 5 3/U% Note 750,000. Commercial Credit Corporation 5 3/hf Note U. S. Treasury Bonds 5 5/8% ^additional for the week ended 9-23-68 750,000. i 500,000. National Lead Company Common Stock: 5, 000 Sharss 1, 600 Shar 2S 1, 300 Shar s 800 Shar 2S , , . '1 000 000 00 8-15-71*1 5-8" , , . *1 000 000 00 8-15-7M 5.8^ , , . *1 000 000 00 8-15-7U1 5.8: 7U9.28l.25. 10-9-68 5.75 7U9,U01.0U 10-7-68 5-75 500,000.00 8-15-7U 5-37 320,117.83 101.22U.53 8U.002.93 51,237.88 ^*0 MESSRS. MARTINO HENRICH . JOHNSTON jdbcxfttttstx ">30 088 a ROWLEY MERRELL ttftttc Orling APPROVED BY EXECUTIVE COMMITTEE October 14,' 1968. 0000-NLI-000021317 ^ ^ *(rt; tfaiiieK. s ec r et ar y <. . 't* ", owi *^sswsssis^'-*' - . 'vr-v^r- : ~~ ? If he appreciated If you will obtain Executive Coamittet approval for the folloalof P tteieots during the week ended gfgtafrsr 39. NAME PACE AMOUNT PRINCIPAL Accmieo INTI ROT L * tft:.. V- \J- tg> * ' *!R*5 m t a*b. *W U. 8. Treoouiy Bonds 5 5/M Hcpurchaoo 9--30--68 U. S. Treaaury lo*da 5 5/M Repurcheat 9--25--68 , , .1 500 000 , , .1 000 000 l,5OO,OO0.0Q>' 1,000,000.06 U. 8. Treaaury Booda 5 5/M Repurchaae 10-1-68 Kroger Cox^any Rote 5 3/^3t Repurchaae 9-27-68 C. I. T. financial Rote 5 5/M 500,000. , , .1 000 000 , , .1 000 000 998,593.75 10-3- 5-6 Rational Lead Company Cctmon Stock: 3, 000 Sheu ea 1, 300 Shaj es 800 Sh&i ea 700 Shaj ea 190,797.00 82.U88.9V 50.12U.29 UU.229.U2 (EXECUTIVE COMMITTEE - OCTOBER 14, 1968) The Committee approved the recommendation of the Appropriations Review Committee for the donation of a warehouse building of the Baroid Division at Belle Fourche, South Dakota, to the Belle Fourche School Board. The Committee approved and ratified the borrowing of $9,000,000.00 from The Chase Manhattan Bank, N.A., effective September 26, 1968 for a period of 120 days at an interest rate of 6 percent. The Committee approved a change in the basis upon which purchases of the Company's 4-3/8% Debentures may be made in the open market from a flat price to a price which will provide an effective yield to the Company of 10.70 percent. The Committee approved the Corporate Advertising Budget for the year 1969 in an amount of $242,000.00 for magazine space and production costs as recommended by the Director of Public Relations and Advertising. The Committee authorized an expenditure of $50,000.00 for the design and engineering costs of new office space to be located at the Company's plant at Sayreville, New Jersey and occupied by the Titanium Pigment Division. 0000-NLI-000021319 (EXECUTIVE COMMITTEEE - OCTOBER 14, 1968) Upon motion duly made and seconded, the following resolution was unanimously adopted: RESOLVED, That the President or any Vice President of NATIONAL LEAD COMPANY and the Secretary, or an Assistant Secretary, be and they hereby are authorized and directed to make, execute and deliver in the name of and under the seal of NATIONAL LEAD COMPANY that certain Guarantee of Performance, uncon ditionally guaranteeing to the United States of America the full, prompt, and faithful performance by NATIONAL LEAD COMPANY OF OHIO of each of the pro visions and conditions of Contract No. AT-(30-1)-1156, as amended, including Modification No. 34, and any modification which may be executed in connection therewith. The Committee ratified and approved the investments made during the weeks ended September 30th, and October 7th, 1968, as set forth in the lists attached to and made a part of these minutes. Upon motion, the meeting then adjourned. "7 Secretary 0000-NLI-000021320 \