Document 4gdDBMzKeq681zq7015aDzw1

MINUTES OF MEETING OF EXECUTIVE COMMITTEE HELD THURSDAY, JULY 5, 1962, at 11:00 o'clock A.M. PRESENT: Messrs. Martino, Corddry, Drewes, Henrich, Merson, Reid, Welch, and Wildner (J. A. Martino, Chairman; J. B. Henrich, Secretary) PRESENT BY INVITATION: Mr. P. C. Muccilli The minutes of the meeting of June 27, 1962, were duly approved. Upon motion, the following applications for appropria tions were duly approved: $ 2,515.50: 24,626.00: 40,059.00: LA 1,613/13/-: (U.S.$3,598.00) LA 1,402/10/-: (U.S.$3,127.00) LA 7,500: (U.S.$16,725.00) $ 1,025,100.00: 185,200.00: 4,030.00: Contribution; Membership Subscription to Lead Industries Association, Inc. from July 1 to September 30, 1962. Chicago Branch; Blast Furnace Changes, American Lead Plant, Indianapolis, Indiana - Expiration Date - November 30, 1962. Magnus Metal Division; Purchase of J&L Auto matic Turret Lathe, Cincinnati, Ohio Expiration Date - November 30, 1962. Mineral Deposits, Pty. Ltd. Purchase of Land Rover for Exploration, Sydney, Australia. Purchase of House Trailer for Exploration, Sydney, Australia. Purchase of Mining Lease, Port Macquarie, N.S.W. - Expiration Date - July, 1965. Nalcon Division Overexpenditure, Erection of Battery Separator Plant, Sayreville, New Jersey - Expiration Date - July 31, 1962. Equipment for Wetting Agent Treatment of Nalcon Pulp, Sayreville, New Jersey - Expiration Date - November 30, 1962. Pioneer Aluminum, Inc.; Purchase of Used Clark Forklift, Los Angeles, California - Expiration Date - August 31, 1962. N 1359 0000-NLI-000021196 EL-3551 (EXECUTIVE COMMITTEE - JULY 5, 1962) Titanium Division - MacIntyre Development $ 1,550.00: Overexpenditure, Overhaul of Seven Diesel Engines for 22-ton Euclid Trucks - Expira tion Date - July 30, 1962. 3,342.00: Overexpenditure, Replacement of Dorrco Drum Filters with One Top Feed Filter - Expira tion Date - December 31, 1962. Titanium Division - St. Louis Plant 8,430.00: Replacement of No. 8 Goulds Boiler Feedwater Pump - Expiration Date - December 31, 1962. 20,960.00: Repairs to No. 6 Acid Plant Unit - Expiration Date - December 31, 1962. 8,610.00: Repair of Damage to Barge Dock - Expiration Date - December 31, 1962. Upon motion duly made and seconded, the following reso lution was unanimously adopted: RESOLVED, That the NEVADA BANK OF COMMERCE, Battle Mountain, Nevada, be and it hereby is consti tuted a depositary of funds of the Baroid Division of National Lead Company, under an account to be styled "BAROID DIVISION, NATIONAL LEAD COMPANY - SUPERINTEND ENT'S ACCOUNT", and that Marcus M. Durfee, D. M. Middleton, and J. T. Keim (any one of them), be and they hereby are authorized and empowered to sign checks, drafts and other instruments for the payment of money drawn against said account and generally to transact any and all business with said Bank, except the borrow ing of money. Upon motion duly made and seconded, the following reso lution was unanimously adopted: RESOLVED, That the President or a Vice President of this Company be and he hereby is authorized and di rected to make, execute and deliver in the name of and on behalf of this Company the following instruments granting, for nominal consideration , to the State of Missouri, acting through its State Highway Commission, 0000-NLI-000021197 EL-3552 (EXECUTIVE COMMITTEE - JULY 5, 1962) rights for highway improvement purposes in and to certain parcels of land owned by this Company west of Fredericktown, in Madison County, Missouri: (a) two Right-of-Way Easements, (b) a Sight Distance Easement, (c) a Borrow Pit Easement, (d) a Temporary Construction Easement; and that the Secretary or an Assistant Secretary of this Company be and he hereby is authorized and di rected to affix the seal of this Company to said in struments and to attest the same. The Committee ratified and approved the purchase for the sum of $924,375.00, of $1,000,000.00 (Canadian) Hudson's Bay Company 5 3/47* Note due September 27, 1962, on a taxable yield basis of 3 3/4%. The Committee ratified and approved the purchase for the sum of $1,686,408.27, of $1,685,000.00 Boston, Massachusetts Tax Anticipation Notes 1.66%, due November 1, 1962, at a tax-free yield of 1.57%. The Committee ratified and approved the purchase for the sum of $1,501,422.95, of $1,500,000.00 Boston, Massachusetts Tax Anticipation Notes 1.64%, due November 1, 1962, at a tax-free yield of 1.60%. Upon motion, the meeting then adjourned. Secretary 0000-NLI-000021198