Document 6GJkEbgezmYKqgyxDg3DwmD9
winu^es of Regular .Meeting of the Board of directors of National ^ead Company held at no. Ill Broadway, i<ev, York City on Thursday. February IB. 193)2. at 10 o'clock A. M.
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Present: Messrs. Beale, Besch.orman, ^roarick, Carter,
Cornisn, Croft, Field, Rockwell, Cicforc, Taylor and Thompson.
Absent: Messrs. Carpenter, Caselton, Lorsey ana ^cCarty.
Present by invitation: Messrs. nail, Greene and derrick.
ihe minutes of the regular monthly meeting held January PI,
IP?:.-., 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.
txESOLVLb, that the following actions of the
___ executive Committee be and they hereby are approved.
Appriving ex
penditure of
61,000.00 by United states Cartridge
Company for advertising
during the year 1952.
Authorizing the contribution of *1000. toward the expenses
of Br. Fredrick L. Hoffman in conducting a European investigation
of legislation affecting the use of white lead.
Granting pensions of 74.65 a month and *50.00 a month,
respectively, effective .March 1, 195m, to Andrew J. urar.ville
(Mixed Paint Lepartment) and George J. Steinmann ^Seattle warehouse),
national Lead Company of California.
^educing list price of nutch Boy wall ^riraer from'5.00
to 1-2.75 per gallon. Approving tentative modification of Winchester Company
"manufacturing Contract" dated September 50, 1906, as proposed
in letter of -r. j . M. Oiin, Vice rresident, of the new successor
Viincnester Company dated February 1, 1952.
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Approving proposal to w. S. nobinson for organization
of new Company to handle titanium business in ureat Britain,
capitalized initially at 530,000 to be issued as follows:-
50,000 to Titan Company, me., (125,000 thereof for license
under patents, technical knowledge and good will and 115,000
thereof for cash), llo,000 to imperial cruel ting Corporation
for cash, and the remaining 115,000 to Imperial Chemical
industries or other satisfactory associates for cash.
,
rii,oGL'/nn, that the affixing o; tne seal of tne
Company to the following documents be and it hereby
is approved.
-
Ceneral Office
Certified copy of directors' resolution of January 11, 1952, declaring quarterly dividend on Class " Preferred Stock payable March 15, 1911.
Atlantic Branch
Proof of claim, etc., in re
^eventhal baint upplv Co.
Proof of debt in re Choen
Eros., inc., bankrupt.
Bill or sale to
H. aowe
of Willys-hnight coach 1929,
motor ho. 50cl3.
r'roof of debt and. power or
attorney in re ^aul ^inskoff,
bankrupt.
Proof of debt and power of
attorney in re Sam Stogel, bankrupt.
Proof of debt and power of
attorney in re Fanny Stogel,
bankrupt.
Proof of debt and power of
attorney in re Albert P. Chill Co.,
bankrupt.
hmoOLVi-D, that the net deduction from Plant investment during the year 1951 of the amount of 7,916.95, before charges for depreciation and depletion, including deductions for property sold, discarded and written down, be and it hereby is approved
and confirmed.
ru.oOLVBD, that the following net amounts, after charges
for the year, be and they hereby are appropriated to standing
reserve Accounts from earnings of the year 1931, and from current
and accumulates reserves of subsidiary corporations:
To Depreciation and depletion .'eservee
541,805.46
making the authorized standing reserve Accounts of the Company as at December 31, 1931, after normal accruals, tax payments and recoveries for the year as follows:
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