Document 659woVxqROj8w7eDmLow4gow3

MINUTES Or THE ANNUAL NESTING Or THE STOCKHOLDERS OF M. H. DETRICK COMPANY, A DELAWARE CORPORATION, AT 10 A. M. ON HARCH 17. 1949. PROCEEDINGS The Annual Meeting of the Stockholders of U. H. Detrick Company was held at the office of the canpany. 111 V/est Washington Street, Chicago 2, Illinois. The meeting was called to order at 10:15 A. if. by Louis H. Hosbein, Chairman - and N. S. Evans, acting as secretary. Present in person and voting were: Shares Otto Bauraruk E. J. Buehler Eleanore Cantlon John W. Clasmann Charlotte Detrick Ifyrcn Detrick Ben Downer , Walter Ehrlich N. S. Evans Louis Feifer R. D. Foltz Herman Henning Robert Higgins John Hosbein Louis H. Hosbein Otto Jaros K. 0. Johanson K. T. Kimmlinger H. A. Knautz Edward Larson William Ourada Frank Pollen Joseph Renan Leonard Sattier William Sheehan Edward F. Streit R. C. Warner Otto Welcome Otto Welchko J. C. Wilson 30 5 10 100 ISO 3CO 4 125 60 10 451^ 5 135 60 lo53i 40 150 90 60 5 55 562 235 4 5 30 210 5 33 14Si Present by Proxy: 4761* J. B. Arthur George Avery C. W.Bauer H. F.Bauer 250 10 30 50 2- - Carried over Present by Proxy (ConVd.) Shares Jack Brockbank The W. Clasmann Company Florence Ehrlich Louis Ellman Alan Dietrich Foltz John Y/. Foltz June W. Foltz Thomas R.Foltz Charles R.Fondersmith Cora If. Goldsmith F. V/. Goldsmith Guy Heard I. C. Holubovsky David James Hosbein Adolph Klawitter Philip Link D. G. Lynch Frances E. & James McClellan H. J. Me Pherson Edward Paul Isabel E. Pollen W. J. Power E. V.'. Rix Elsie Roman James H. Reman Harold Rowley 3. F. Sears George Sorensen N. E. Stoffel J. T. Thorpe, Inc. E. C. Tourje Maude H. Warner Robert C. Warner 20 50 350 325 30 30 850 30 75 45 10 20 40 41 20 60 38 25 15 5 457 10 65 30 10 10 30 25 4 200 32A 80 30 Absent, Not Voting: 3402 James Cemy Fred Ellnan Opal W. Hosbein Roger Louis Hosbein Ray Over Edward Petroski Laurence V?. Warner 5 56 800 45 30 10 ___ 20_ 976 476l 3402i 976 9140 shares 1 V He pointed, out that Aurora had shipped approximately 5465,000 worth of materials in 1946, which was about 1/10 of 1^ of the total of all insulation, sold in the United States; therefore, M. H. Detrick Company believes there is room for considerable expansion in the field. As a consequence, M. H. Detrick Company intends to spend about $70,000 at Aurora to install a boiler which will bum low grade oil and produce two to three times as much steam as the present boiler, allowing for the heating of the inside of the plant and giving the workmen more confortable conditions than at the present time. This new boiler installation is expected to effect a $3,000 yearly fuel saving. During the year we shipped $5,223,000 wortrTof materials, which was an increase over 1947 of $1,100,000, Droviding an increase in profit of $15,000. The percentage of profit was down during the year due partly to our keeping the sales price down, to spending approximately $9,000 with the Battelle Memorial Institute for research and partly to paying Fred Raymond approximately $5,000 for developing a new insulating block machine. Mr. Hosbein believes that within another month the new block machine will be in experimental operation and that it will take approximately another month for changes and adjustments before this machine is in actual --o*.ahi ne onrwii hi on . Insulations Division