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Tb* Choinaea eaaouBood that tbe poetise vetild proceed wit& the dee*
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vhsreupoo tb* following officer* of tfce Ccespoay taw ooiirateA*
Psrtfifafc *. Scgrtty Ctoiroaa ftb* fep&d .of PUeetos*
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VUXard C* Ufihtor, lUeoutiv* Vice Yralfttat
B. tU tfexcy. Vice**d*ia*t *
Alexatifo* . &s*a&, tioe President
Harvey X* Slaughter* Vied President
Mm H* tieefce* Vico fWPideafc
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President v.;v ":
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. W/ttevid SUUeujyVib* Prartdoat
: Clatis P# tex*o*j Vic* Pmideat
fiiehstfd o* Veetiey* Woe President
; Robert 0 Horner, secretary '/.
` William 0* Phillip*, Emeuror
George 0 Varner, Oectroller i
Willard f*\ Stetaelbttear* AeaUtont Secretary /;
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- Oa notion node, aeoended pad
carried,' t*laafclefta ware:
closed wA tbo Seoroteor w tisfcrocfied to'Mt ^
director* present for tbe election of pm officer* above noalmted.
fte fdlcwinc director* irwe ntwtnated to Hm a* regular wmfcer* off
tbe Stteoutiv* Ccanltteet . ' '
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Bright ?# oyc*# CbaWen Willard C. lighter B* w* Mttegr Mtttuftir P ftncaa pdfcertB* Baraer
K**sr*t ilemy b. Slaughter and Mil H. Veekaw* elao omliwted t*
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' pa Nation***, aeoortlad and ttnaotnouriy carried,tbe flogreUryea*
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director* vote
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currently at a level of $22>000,060, vw ot t^tr p^ for tbe i^S fteeal year* of each of the Ceapeuw'* **^
chaaicifl Departaetst presented in a an^wib toM/Becwato
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to ea<& of the director** . He* dark JP*>fce^
Of FUfCb&M9/ COBtt&ntfid `wawAwkl
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opinion, there vas no
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yet available for
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; -*'. SlW l>lfeotora coolderoft ana, on ^ioo aaAc and eeoonaod/ WMrilwc***\y
approved Big l*7^3^A ln the eaouat of $21,800 covering an eA<loswl *aq?Ca4itm*e
Bivleloa'a Cleveland plant*
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approved %gr. the! Board ofldroeteroM Mftyl7# l$57#ie Meeaaltated By the poor
Board* Shea# Pivlsioa** tttaaiua dioxide plant at fit. fctleoa, *atiaor,
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Chemical Industries, Inei, or ouch other subsidiary me migit bofarmd by the .
She* Chemical Corporation to mmifo&ur* and fixx titanium dioxide. taler
the proponed oostsmet/the buyer would acquire all pt the' land, building*, <
machinery and o^ulpocat owwsd by the Oca$*n? at St.Belem, except the tuildlEg
housing the cadmium color plant and the c^iljomnt within and adjacent to iimt
plant need In cq&riim pigment cparatSxns, and equipment, office furniture and
fixture# in the research ligorstcuy, term total consideration of ^10,500,000.
It vould aieo oc^ulre, t bool value/ mil useful rair aberiias, reagent };/"
chemicals, factory supplies, Voat-ln*<proc^ inveatorie*/ OiA *miideaaiw
located on the plant jn^adLsee*'' ms* items currently on head vero estimated .
by Hr* Balsoy to have m/booh Wine mf syffoosimateiy #2,000/000. 2be principal
provisions of the pn^oM contract were, mwnevlsod in a wmorendme dated: '
'Deoedbtr ll mddrwed by the Becrttofy to the Chidrme coples.'of:i?ttch'ww*i-
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sidttltted to each of the directors* PoUcwing careful Consideration of the ;
proposal, and on motion wade and seconded, it wee wwaimousiy
maotVffl, that the Agrecesnt betmate Shea Chemical Industries, Xnc. and this Cowpacy, oorartres purchase mad .cole .of the V Chtsdcale-Pigaegte Metal PiTisica1* Bt Helena titanium ' - IlmMe plasty hi mat it -'is hereby mgsWed ms submitted to >>'. - .this meeting, subject to maohmodifications os aear.be eavrovm&^.^v^ by both the Omdiasn aad the Vliw Presidei^ In chorme of the . fflmmlreie iMsmenti Metel e Division for the purpose of meoem* -v-v wodotlag may leader or leaders of funds, mot to exceed 43,000,000/ necessary to flnsnoe mopaeltloB ef ths plant by the heyer-and '' ,:: to idlfioatlott .amd-lipekiB chebpse igswed ty the hee^^ . which do mot materially aTfect themriMrtenei.ef the dsrlj|ms%'^t.-:<V'- y
-: nmm wexvm, tint the escrow egreemmit mortgage, mod Mattel mertgsee to be meed in eald Agreement be end they are herehy epievfed
Mr. saxmi e. UfAw, ftMuUm Itee
CLD008067
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Choairgr Division Jiad carerullyrevlBvod its fine cbeml^ ppcrafcloa*. Based : : :f
upon this review and the ecoooolo outlook for tbs CoagpargrU flndchaaicai
Vasinase, Hr* R. 0* Vestley, Vice yrosiiw* of the Cbsmriy Division, tied
recaosenSed that the operation* he digaoptlaacd fsra^tately. . bn potlonaeds
and escorted, the Directors \msnlswualy approved lusediatod^
and
Bhaadoaowt of the operations snd authorised Hr. Veotley and other office** to take the oeoessaxy action to utilise vltbin the Coiixix^
used in the namfocture of fine cbaaicole which sdghtbe adaptable to other' ;
operations* It vas further agreed that any e^Upawxt Which could not he /'..
utilised should he diimntlcd, setupped, efccndoned or sold on the feecttem*
Obtainable not later than August 51,195$#
V A report hy Hr. Plena M. Davidson, Choinwn of: the IfetentCooftfttee,
dated December 10, 1957# covering activities of the Coewittee during
year 1957,. vas received and considered by the Directors* Mr* Davidson, oho '
vas present during coaMderetloo of hie report and answered ^stiow oocbernl^
the Comlttee> activities, use eoajOiaw^
Cboiraoa onhia report,
on the progress achieved hy thefatant Cctttttle* in carrying out tbs Company*# .
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patent prograa.
She Directors reviewed the
oesithly report dated DeoeMber lO
on natters Wvhl&^
and ibcewtlvs Oonalttee aotien had been token aak:;'
oo which other action vas fending*
: Vbe Directors,.
deeoaM, omntaocs\y ad^ted tts'/-,;
fallowing resdutloo revolted Vthe'ptded Bo m* of feeds
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the sathcirlsstion srantea to MMera*
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Board of fes&ei
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oaeoutive officer* f till e*x!parU<n
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She Bowa of Sttafo Of tbeCity of C&A^/J*to4uty V '
yegiptweai tb*i* wsabentfiip iaifcia Bcutod of **d* la -.^119;
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tom of thin ooc^oiotlOQ, tywortUng iotbe saW^^:^^r:v:C'^';;
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83 7$ ESSOINED, tbet sail ttuiijb iO^y^XUj^i^
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tloaa of oid Board of frode* for as& abobBlfofthX*........
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