Document 5bV5XJx4VXD6j9J2bKK4VKyve

New ^ork City, on Thursday, November 15, 1928, at 10 o'clock A. M. Present: Messrs. Beale, Beschorman, Brodrick, Carpenter, Carter, Cornish, Croft, Field, McCarty, Rockwell, Si^ford, Taylor and Thompson. Absent: Messrs. Caselton and Dorsey Present by invitation: Mr. Merrick. The minutes of the regular meeting held October 25, 1928, were read and duly approved. On separate motions the following resolutions were each unanimously adopted, the roll being called where the expenditure of money was involved. RESOLVED, that the following actions of the Executive Committee be and they hereby are approved. Approving ex penditure of $20,432.96 and $11,629.28, respectively, by United Lead Company, in addition to amounts previously approved or appropriated for the purpose, for the completion of construction of electrode paste plant and construction of laboratory and welfare building and machine shop at its Keokuk plant. Appropriating $ 1,650.00 for construction of new concrete retaining wall and sheds at Collier Works, St. Louis Branch. RESOLVED, that the affixing of the seal of the Company to the following documents be and it hereby is approved. General Research Certified extract from minutes of Laboratories Directors' Meeting of April 19, 1928, showing election of corporate officers - in connection with permit to use alcohol under National Prohinition Act. 0000-NLI-000021799 160 General Research Laboratories (continued) Certified copy of Certificate of Organization of National Lead Company as amended April 21, 1927, for same purpose as last above. Certified copy of Directors' resolution of October 25, 1928, authorizing signatures to applica tions for withdrawals under National Prohibition Act permit. General Office Certified copy of Directors' resolu tion of October 25, 1928, declaring quarterly dividend No. 147 on Class A Preferred Stock. RESOLVED, that Dividend No. 7 of $1.50 per share on the Class B Preferred Stock of the Company be and it hereby is de clared, payable from Surplus Fund and Profits on February 1, 1929, to stockholders of record at close of business January 18, 1929. RESOLVED, that a quarterly dividend of $1.25 per share on the Common Stock of the Company be and it hereby is declared, payable from Surplus Fund and Profits on December 31, 1928, to stockholders of record at close of business December 14, 1928. RESOLVED, that the proposed purchase by National Pigments and Chemical Company from R. A. Fredricks of the latter's lease hold interest in certain barytes lands of El Portal Mining Company in the Yosemite Valley, California, for the sum of $60,000. in cash, and the negotiation of a new lease with said El Portal Mining Company for the term of ten years providing for the payment of a royalty of $1.00 per ton of barium ore mined and removed thereunder, superseding the leasehold interest so to be acquired from said Fredricks, be and it hereby is approved. RESOLVED, that the sum of $3300. be and it hereby is appropriated for the purchase and installation of mechanical pounders for two long cylinders and sixty-two short cylinders at Maurer White Lead Plant, Atlantic Branch, in conformity with letter of Mr. B. G. Sidford, Manager, dated November 10, 1928. RESOLVED, that the sum of $1750. be and it hereby is appropriated for the purchase and installation of a barrel hooping machine and auxiliary equipment for Maurer White Lead Plant, Atlantic Branch, in conformity with letter of Mr. 0. G. Sidford, Manager, dated November 10, 1928. RESOLVED, that the sum of $1500. be and it hereby is appropriated for painting all buildings at Maurer Mixed Metal Plant, Atlantic Branch, in conformity with letter of Mr. A. W. Van Deusen, Plant Manager, dated November 15, 1928. 0000-NLI-000021800 16 RESOLVED, that the sum of $700. be and it hereby is appropriated for the purchase and installation of a heating boiler for flatting oil department Crooke Works, Atlantic Branch, in conformity with letter of Mr. H. G. Sidford, Manager, dated November 10, 1928. RESOLVED, that the sum of $1200. be and it hereby is appropriated for experimentation in the production of; litharge of low gravity at Southern Works, Chicago Branch, in conformity with letter of Mr. Charles E. Field, Manager, dated November 14, 1928. RESOLVED, that the officers of the Company be and they hereby are authorized and directed in its name and behalf to contribute the sum of $4500. to the Norris Gregg Memoraial Fund for the establishment and maintenance at Washington, D. C. of an experimental laboratory for the paint and varnish industry. RESOLVED, that the proposed negotiation for the purchase by Chadwick-Boston Lead Company of the machinery and good will of Cambridge Smelting Works at a price of not to exceed $18,000. be and it hereby is approved, subject to final approval by the Executive Committee of actual price, terms and other details. RESOLVED, that the pension of $250. a month heretofore granted Mrs. Frances M. Thompson, widow of the late Sheldon Thompson, be and it hereby is continued for the term of one year beginning January 1, 1929. RESOLVED, that the matter of advertising appropriation for the year 1929, submitted this Board by Mr. Carter for the Advertising Committee, be and it hereby is referred back to said Committee for further consideration as to the advisability and cost of increasing the amount of proposed advertising in newpapers or magazines. RESOLVED, that the proposed expenditure of the sum of $79,000. by United States Cartridge Company for advertising during the year 1929 be and it hereby is approved. RESOLVED, that this Board approves the recommendation of the sales Committee that the price on Dutch Boy flatting oil be made uniform at all Branches and hereby constitutes Messrs. Carter, Beschorman and Sidford a committee to determine said price. RESOLVED, that this Board approves the recommendation of the Sales Committee that Dutch Boy red lead in oil be ground and offered for sale in soft paste form and authorizes Mr. F. W. Rockwell, Production Manager, to establish the necessary standards for such production. RESOLVED, that effective November 19, 1928, authority be and t hereby is given to accept orders for white lead in oil, red lead in oil and dry white lead and oxides in kegs at present card prices for delivery up to March 31, 1929, and to date invoices as of the latter date on shipments made after January 1, 1929, such dating on shipments made before Janiary 1, 1929, to be allowed only when deemed necessary by Branch Managers; dealers purchasing 0000-NLI-000021801 \