Document 447BKM7YG0xr3LEgbp5KZ5jJj

The Chairman presented to the meeting statements of net Income end of net Current Assets, estimated as of September 50,1948, which on motion duly made and seoonded, were approved and ordered placed on file. was: On motion duly made, seconded and unanimously adopted. It ' RESOLVED, that the action of the Offloors of tbs Company In approving the following Appropriations be and the same hereby Is ratified, approved and confirmed: ^ Description Amount 480 Concrete loading platform for Balter Truoks at , Perth Amboy. *19,058.00 184 Drilling a third deap sell near reservoir In I Pine Canyon and purottating and Installing naw I pump for well at Tooelt Plant 8,150.00 I i There was presented to the masting the oontraot of sale between the Company and the Eagle-Plcber Company executed September 27, jl946 ooverlng the aale and transfer to the Eagle-Plcher Company of a parcel of land on which tha Company's East Chloago, Indiana, Plant Is loeattd, together with aQ buildings and improvements thsrson, all fix tures, aaoessorles, msahlneseed maohlnery, lead and sine bearing material*. matsrlal*ojand supplies. Items made especially for the East Chloago Plant, Items now/ order by tha Company and the assignment to tha Eagla-Pioher Company of the Company's 0. S. Patents Hoe. 2,156,420 and 2,174,559 for a consideration of *988,000 subjsot to any mutual revision upon the comple tion of the inventory afsaterlale and supplies, which amount la to be paid as followti | a. *500,000 was received from the Eagle-Ploher Company upon the ixeoutlon of tha oontraot. b. *475,000 1* deposited In the Guaranty Trust company of Hew York to ba paid over totha Company upon tbs dalivary to and aoceptanoe by the Eagle-Plofaar Company of a deed and abstract of title oover lng the realty included In tha oontract of sals, o. Balance of purohaee prloe ta ke paid In oeah by tha Eagle-Ploher Company to tha Company on or before delivery sad acoeptanoe of tha dead. Watsrrates, power bills, real eatate and peraonal property taxes wlllbe apportioned as of October 1, 1946 and flra Insurance on tha buildings now in effect shall ba maintained by tha Company until tha clos ing of tha title. After dleoueelon It waa on motion duly made, seoonded and inanimously adopted; RESOLVED, that tha Prasldent or Vide President and Secretary or Assistant Secretary be and they hereby are author ised and empowered on behalf of tbs Company to exaoute and de liver to tha Eagle-Plohar Company a deed of the following I deeorlbed real eatata belonging to the Company looatad In Eaat Chloago, Iittlaaa: PNYC 00010345 N12775