Document 82N2E9wZE39LJ0NKVxrVDMB1y

utes of Monthly Meet ihg'-of;the'Board of Directors .gational Lead Company held at 'So. Ill- Broadway, *:?ork City, on Tuesday, December 14,- 19S7uriht ii* * _______ ID oT clock A:.~ tti rr '--r: 0 ,i^uTfs., * `J.r ' - r* C/'present: Messrs'* - ' 1 k ' - r*- o - : -'* p ' < '; r- ' - > _ ^: .i'r'l -a T Beale ^ ^ \/ ^y E. J. Cornishi^--''F. 'W.tR6chwell v' 'y^^ Beale ss.vw ,, w; H. Croft S "-H*' ~D ^ -Bidford ^ ^ ^ Be s chorman ^ Carter *' *- ^ r - ' 0.-H.-Greene-^V yp'fjL-'Charles Simon v ~ * , Kendall Marsh *A*S4S^^GG., - W:; Thomposon ^ - Caselton SsXS. Tf. ^f ; Meredithrv/^/'H ; 'T. Warshow ^ s" "r '-Taout . fi^upe -;C 1 ;oru *:> ' - Absent: Messrs. A-^p^ic^cvuf :-r^i tv v*ir i r; ,ur "*l- * ; * * ` I.' ft. < C <*.GCi L <->C tC OT Present by invitation:-/ iS ;i. proven. The minutes of,the`la$t'preceding:meeting>h4ld ' ' - ....... ----- r->.t S i o sober 25, 1937 ` were resid * and; dtily >approved i ~ `,.-'0 -'o. t i- On motion duly made and'seconded-the actiods of the orj-i* v *1 h r;v: a utive Committee'sincevthe'-last meetiftg_&f the Board as rr. ere from the item ni *}-'.C ,00";* for forth in the minutes_iof its meetings 'held-December 1st U~ 1 i>3r`H. t'T --C. Vei'tiS-iir -.V-Xt -- i f'-jJO . 9th, 1937, submitted for the approval of the meeting. j duly and unanimously approvedi'-'the-'roll being'called on j `.-O; .v- ry sre ro c-'r.url. r-u*" items involving the expenditure df-moneyC -^neric-.n over Upon motion duly made and seconded'the-affixing of the al of the Company to sundry documents'specified:in schedule bmitted by"the Secretary was`duly and unanimously approved, atified and confirmed and said schedule was ordered filed ^ y t; t * C* , ^ '. ' = . . r` -,;iSr, with the minutes of the meeting. :.r ;t -._ -f 1-----. ^'-iniv " 'ri. hi ' d e..l ;':if. Upon separate motions"the following^resolutions were r . ; *. ' " - ; y , 5CO cq. each unanimously-adopted,'the ;roll':being. called: where the ex- - r-; < i. V ' '/ >- 'f . - U -v:. - ' ; , '-slu . penditure Of money was involved.;:.'"- a r, -to: LCt:.. 0000-NLI-000021981 RESOLVED., that the^sum.of $4795. be and it hereby is appropriated for sundry alter-".. gtions and additions to white. lead pulping and mixing equipmentAtlantic'Works, .Atlantic',, Branch, for adaptation to separate pulping of'. Dutch Process and Carter, Process' white lead,,, h in conformity .with, letter of Mr. Viambold, General Superintendent, ' dated November 22,1,1937. RESOLVED, that the .authorization "by tha Manufacturing Committee of the expenditure of the net amount of *5090.98 during the period',,' November 23rd . to December'13th,. 1937 for. the., , purchase of 2, Chevrolet-'coupes,'2 Chevrolet'town sedans, 1 Plymouth^ coupe and' 1 Ford .pilckup Itv -> truck for Company use,-In, conformity with', re portof Mr. s. W. Rockwell, ^..Chairman, datepi_. Dec ember 13, 1937, be and it hereby is approved. v` " RESOLVED, 'that the sum of'^448,000'.1,'ln-"` eluding $110,000. for. advertising features in place of tjhe, 8l3S.,500,.lheretofore, appropriated for that.'purpose^he. and. Xi~ hereby is appropriated for general'advertising of paint materials, for the year 1938, in cohf ormltyr .with revised,Budget A submitted by., the Advertising Department after eliminating therefrom the item., of - $28,000. for Farm Papers Advertising and. .after reducing, the i t em for Busihe ssfPaper s Ad'ver tising' from_ $52,000. to $32,0001,;. - ' '"tWi-- RESOLVED, that the officers of the Company be and they hereby are authorized to,contribute the sum of $1800. to .the 1938, budget, of American kining Congress, being an increase of 60% ov.er the contribution of the Company for the_year 1937 pursuant to-corresponding lncreas'e'Mn the . annual budget of, said Congress, provided that a like increase is made--in a substantial majority in amount'of the' contributions of the other principal supporting members of said. Congress. _ J . RESOLVED, that the proposed purchase by' lohn 1.. Lewis & Bros. Company of. the- tri angular .parcel of/ land adjoining, its Philadelphia Plant,, bounded by" Cumberland, Almond .and Moyer. Streets;ahd containing approximately 55^,5.00 sq. ft"., at a price of 60 per square foot*,' in con formity with letters of Mr. Edward F. Beale, President, dated November 29th and December 10th, 1937, be and it hereby is approved. 0000-NLI-000021982 RESOLVED,. that the officers of the Company be and they herepy hire authorized and- empowered -to:, sell ana deliver to The H<jyt $etal Company qf r.v-.-Great Britain Limited, at -current market price, 421,036 Ordinary Shares of (Goodlas s wall and Lead Industries Limited of- the par value of 10 s. each : now owned by the Company, of which -419,036 shares are registered in the name of this Company and 2000 shares are registered in. the name of .J4r.. William Cnarlos Bescnorman -as it6 nomine ej and ;be wLt further- RESOItfBD, that th^.;offleers of thq. Company-; be and -they, hereby are authorized, empowered, and directed- to'rexecute and deliver >in its name 'and , ,: behalf .transfer deed'.to The 'Rqyt Metal CojtHaqy of r Great -Britain Limited, -of Putney, London 6.- 4*. pU>, England, covering -419,036 Ordinary Shares mfn. ._,g ^ Goodlass ball and Lead Industries Limited nowt owned by thistCompany and .registeredgin its. name,. pursuant.to the sale - thereof heretofore authorized. HEBOLVfiD,- uthat.-the. officers of.ithe..,c-:.. <r Company. ;be :and they .-hereby are authorized, era-' powered and directed to^x_ec.ptand deliver in its name and behalf"^that certain agreement be tween S. h T. Metal,. Company and this'Company.f. dated December 31, 1936 providing for the assign ment to this Company for/ the period therein specified of all patent g, patent applications and trade mark registrations relating to Satco metal, and for the reassignment . tnqreof'`by this Company upon the expiration of said period. RESOLVED, that for the better protection of the interest of this Company in the manu facture and sale of "Satco" metal, under license granted by S. & T. uiet.al Company to Magnus Company Inc., predecessor of this Company, under date of December 16, 1934, as subsequently amended Govember 23, 1936, the officers of the Company be and they hereby are authorized, empowered and directed to take such steps as may be necessary, at the expense of this Company, to procure registration of the trade mark ''Satco" ,in the name of this Company or in that of any of its subsidiary companies at home or abroad, in all countries in which such trade mark protection is by said officers deemed advisable and practicable. 1 j !' i 1938 0000-NLI-000021983 \ HESO LVED, that as at close* of business all salaried officers and all full -rtirae employees-'df - the Company -who - sha 11 tnen- reached the age of seventy years-"shall'be retired/ v from office or active employment ofiT such'-peri si ofiis as they shall then respectively be"entitled and that thereafter every salaried officer and full time employee of the Company who. shall have continued in tne active service of the'Company .until attaining" tne age of seventy years shall be" similarly' retired,- as of the last day of the calendar month"in which ~ ` * he shall have attained that age;, provided,. however, . that no Directors of the.Company;nor'aqy;candidatef for election as Director shdll he dlshuallfid~from continued service as a Director ` or ;f roar election * in that capacity, as the case, may.be, by. reason .pf.having attained the age of seventy _y ear $;_ and .'be; *.it: '." 1' ' FURTHER RESOLVED, that this 3oard hereby'* ' recommends the. adoption of tile policy laid down in tne foregoing resolution by all ..corporations iu ith^e ,. and Canada in/.which this .'Company . owns.. f interest. v\ >n j ' *' * e. * . i -tiz,'1* - v - J *! 0000-NLI-000021984