Document 4JJJ0610Nrqd96v256XQQkM0p

September 20, 1948 At a regular meeting of the Director* of John T. Levi* & Bro*. Company, held this day at their offices in the Widener Building, there were presents J. W. Gardiner, President 3. P. Reeves, Tice President and Treasurer A. X. Wilson, Tice President X. H. Kerritt, Secretary L. T. Beale, Director Geo. A. Watts, Director The meeting was called to order by Xr. J. W. Gardiner, who presided, and Xr. X. R. Xerritt reported the minutes of the mooting. The minutes of tho meeting of August 16th vers road and approved. The following comparative figures for tho month of August 1947 and 1948 and for the eight months of 1947 end 1948 were submitted* August 1947 - Profit $12,228.04 8 months 1947 - Profit $413,901.15 August 1948 - Profit $70,440*55 8 months 1948 - Profit $312,317.24 Xr. Reeves gave a report on funds that have been loaned to employees during the past thirteen years since the lean system was establishes in 1935. During that time we have loaned a total of $19,671.56 and have outstanding at the present time $326.50, all of which is good and collectible. During this entire period the company has never lost a cent and has created a tremendous amount of good will. Xr. Watts explained the many difficulties in obtaining lead of almost any kind at the present time. On motion duly made and seconded, it was unanimously RESOLVED - to authorise the blanking out of Xr. Gardiner's facsimile signature on our salary checks and substitute instead the single personal signature of Xr. J. W. Gardiner, Jr., President in place of Xr. S. French Reeves, Tice President, retiring. This applies to cheeks drawn on the Pennsylvania Company. An interim application has been sent to Wow Tork in the amount of $7823.00 for a CAR to cover the palletising of drum handling in our Oxide Department. The regular report of shipments for the week ending September 17th was submitted. There being no further business, upon m`* ` ` NL 000040726