Document 8d0rzJKQmZ2mXmdYXKv4Go3d

Minutes of resting <xf the S&ecutiva Coealttod of 0Hddoa Congas? leld at tl# office of the Coeeg&y# PCX) UaJoa Ccmarco Building# Cleve land# Ohio, Ofi Bsii&y# Jjwrjaty 20, 1958# at $tQQ ?-M. he follwlnc reabsrs of tha Cossalttes vsro prices* tvirfrt r. Jcycc B V. M&xey Alexander D* ftmc&n Hebert D* Homer Harvey t, Slaughter Mr, Willard C, tighter wse not present at the recrti&s* Mr* vfoyco# Chatman# presided ur4 Ur* Homer# Secretary, recorded tbs ntnutes* 3tos Cb&iraan reported that Me# R E* Dorftoeycr, Director of Acquisi tions# had Initiated certain diecusaiom vith V\ Victor Jtac&t directed toward the possible sale of the CJieaicale^>i[pats-:^tftla Divioioa,i Scranton# Pennsylvania# pleat tad vfcite iced husineco to a corporation controlled or to ho formed by Mr, Momt* Previous regotlutiona iritb Hr, Morris Haroaas end other prospects# no reported by Mr* Halsey to 11 Directors i&y IT# 1997# bod not resulted in disposition of the Co^any'o Samtca cpcrotlons and# therefore# action tabes by the Ccmlttoe Hey 23# 1557 c^provins a proposed egpeesaant with Hr* Saroess for tbs sals of the plant on certain toms offered Boroc&e and other prospective porefcasera at that tine# vas# oa notion nsde and exceeded# umuatocttsiy retelo&od. Mr* Dorftotgrar wss thereupon# on notion ends and nesoo&ed# una&lasusly authorized to proceed with bio negotiations with Mr. Muscat Tor the sale of the plcmt end tho Company1* white load, busizeoo, with the underetooling that if ho vas successful in these negotiations, e contract would he submitted to th Directors or the Ccmittoo for final approval. The Cocaraittoe considered sad, a notion mdo end seconded, unanlaousSy approved supploacatBry PMS llo* 8q ^-A in the nwount of 20*500 coloring costs to bo incurred over cud above the 2$6,775 authorized by the Directors on September Eb, 1957 for the repair oat rehabilitation of the Cbeourgy Division's Chicago protein plant* Xt was pointed out that property dosage Insurance pro ceeds froa the fire loss at the plant totaled 282,881 and that the Ccapaey's net expenditure for t&dexztlzatloa and plant ii^rovoaemt would apprcudaoto only *3M9*. The Secretary said that in connection with the sole of 15 acres of the north portion of the Ctecposy's property at Buena Ifcrfc, California, to United Wallpaper, Inc. pursuant to a contract approved by the Directors cm Kcwasbor 25, 1957, it would be accessary to provide the title company with a resolution authorizing the calc which included a legal description of the property. On notion node and seconded it was unanimously RESOLVED, that the sale of the 15-acre parcel of real property at Buena Dark, California, belonging to the Cespany to United Wallpaper, Inc., aa set forth in the Salas Deposit Receipt Agreeneat dated April 6, 1957 sutaltted to the meting end authorizing the conveyance of the following described real property to said United vailpepcr, Xnc., be and the sane is hereby authorized cod. approved* All of lots 7a 8 and 9 in block A of the Buena Park Euca lyptus Tract, in the city of Buena Baric, county of Orange, state of California, aa per asp recorded in book 5 page 25 of MUeeUaneoua Maps, in the office of the county recorder C7Ln008lll 1/20/58 of said comity* csd theme portions of lot 2 In sold block A and of lfcuftert Strict vacated by resolution of tfco Board ^Supervisors of Oror^fe Comity* a copy fvhich was l^eorded Sopta^r ll, lp49 tn bc>o^ l6^ pe^ of Official Records end of Botryoidco Street vacated by reso lution of the Bawd of Bupervicors of Ortmso County* a copy of which vaa recorded Octdter 8# 1952. i boefc 8394 page 107 of Official Records* lying north of o line parallel with the center line ef.the'Un*p$BO& street (ow town r o Eighth Street) adjoining the Booth lino of lots 1 to 6 of Uhltc&er's Addition to Buena Bos* os per oe> recorded In bock 2? page 10 of Miscellaneous Records* in the office of tbo county recorder of .tos Ar^oles County* California/ which parallel line intersects tho center line of Knott Avenue on the vest (efcswn os "County Road*' bn sold seep of the Buena Ifcrk Eucalyptus Tract) at a point which is north 1117*91 feet frea its intersection with the said center lino of Eighth Street and South 10to*4p feet from its intersection with the center line of the Southern Pacific Railroad Ccapoiy'o right of way 100 foot vide* EXCEPT that portion thereof included within a strip of land h$ ibet wide which lea 17 foot Southerly and 2d feet Northerly of the following described line* Beginning at a point cm the center line of the sold Southern Pacific Bailrood Ccspony's 100 foot right of way South 57 02* 05" Bact 12fel30 feet alccg said center line fret* Its intersection with the west line of "Sec* 35# T 3 8* R 11 V* s*B*M*" e* indicated on said nap of Buena Park Eucalyptus Tract; thence South 32 97* 55* Vest 35*00 feet; thence South 30*16" Vest 427*70 foot to the beginning of a cum* tangent# con* . cave northeasterly and having * radius of 300 fleet; thence Southwesterly elcog said curve throutfi a central angla of 16 58* 5t*# an are distance of 68.92 feet; thence South 76 29* 10" Vest 565*21 feet to a point in tbs said vest line of section 35# distant thereon Couth 0* 30* 50" East 1210*00 feet fron the northwest comer of said section 35# as conveyed to the QraagsCoonty flood Control District by deed . rwcoaded Hey 6* 1955# in book 3057 pass 394 of Offioial Bocords* la tbs office of the county xewaxter of said county* ALSO EflCSST that portion thereof described os follows1 Be* giniiing at the intersection of the northwesterly line of the aid *5 foot strip of, land conveyed to the 0range County Hood Control District with the souttsiesterly line of said Southern . Rseifie Eallroad Goepany's 100 foot sight of vay; thence Sorth* westerly 40.00 feet along said southwesterly right of way line; tbeaoe Southwesterly 73*55 foot at right angles fron the said southwesterly right of vsy line to said norttoesterly line; tbehoe northeasterly 83*72 feet to the point of beginMj q q , also as GL00081I2 1/20/58 u conveyed to the Cranso County Flood Control District by deed recorded May 6, 1955, in book 3057 joga 3<& of Official Iteeords, in the .office of tbs county recorder of e&ld county. HEtlKsa IE:30IiVZ>, that the proper officer# of this Ccrapary bo end they txo hereby authorised to execute euch documents of conveyance, transfer and Gssigirisnt and to toko such other cctioa no nay bo necessary to cowwuaate said woe. On notion ttodo oM seconded the Cemittoe unanimously approved a con* trust vith Tbc American District Telegraph Ccapary dated January 20, 1958. 5frs contract provides for the installation of .certain uaterflw indicators end other c^uijoant pertaiulsig to cvn alarm cystcia ct the Feint Elvision's Cleveland plant end is terminable on September 1, 1950. Jtocurring cfcar&es of $1,809 vill be incurred annually under the egroemnt* There being no further business to coo? before the Ccenittee, the Meeting vos adjourned at 1:00 ?.M G LD 00 8113 1/20/58 imwm or amiua or 593 S3S0J31VS OCftftETO&S or m ofiBXK$ c o k h m? Mimics of rating of the iszccutiva Cca&litoe of Eh* 01idde Ccrapsuy Iteld at tl office* of the CcaQ8x&$ 9&> Union Cc&asrcQ huiUUm, Clovc- lor4, Ohio, rai Mradsy, Jsmiary 0, ut P.M. She follwlr.# msibers of tha Cwaoilttce were preooEti IVlsht P* JO^CO 8* V?* M&xcy AlcsooSer D &uic& Pckert D* Homer Harvey L* Slca^iter Mr, Ulllnrd C- Lighter wse not present et the nectlng. Mr* Joyce, Chalrsxm, presided ad Ur* Howaer, Uecnetary, rcccwd&d the ninutes. ffhe Chatman reported that Hr* R* E* Dcrfoeyerr, Director of Acquisi tions, had initiated certain discussions vitb Mr* Victor Muoc&i directed toward the possible sals of tba Cke^ciOedf^m-Mr/t<as Division** Screwton, Pennsylvania, plant *z vhlto lead buslr^so to a corporation controlled or to bo fanned by Hr* Muscat* Previous negotiations vitb Mr* Morris ttoxoam end - other prospects, no reported by Mr* Halsey to tl Directors ifcy 17# 1927, bod . not resulted In dlopooitioo of the Ccopaay'o Scranton operations and, therefore, '--*$' action token ty the Ccnadttoe May 3, 1937 approving a proposed eeroeaoab vlth V Hr* ifrrtrefte for the sale of the plant on certain terns offered Haroeat end other : j < prospective purchasers at that tine, was, oa notion node and seconded, unsntecosSy 4 rescinded* Mr* Dcvftoeyer was thereupon, on notion node and seconded, unanimously ^ ft *,ii Ct-D0082lo a//5 ` authorized to proceed with his negotiations with to. ifcseat Tor the Bale of the plant end the Cotqp&ny'o white lead business, with the UttleretonUng that if he ves successful in these negotiations, a contract would he eubaitted to the Directors or the Ccoaittoo for final approval. Ccazraittoe considered onl, ca notion node and necoaded, unanliwusly approved wypplCEiifataay PK Ho. 6o4-A in the tuaouot of $20,500 covering coots to be incurred over end above the $296,775 authorized by the Directors on September 24, 1957 for the repair and rehabilitation of the Cbetzurgy Division's Chicago protein plant* It was pointed out that property dosage insurance pro* coeds froa the fire loss at tbs plant totaled $S2,88i and that the Canary's net expenditure for Boder&izatioa and plant ii^provoacat would spproxiHato only $34,394. ?he Secretary said that in connection with the sale of 15 acres of the north portion of the Company's property at Buena Fork, California, to United Vollpoper, Inc. pursuant to a contract approved by the Directors on Koveisber 26, 1957, it would be nceoosaxy to provide the title caap&ny with a resolution authorizing the calc which included a logoi description of the properly. On notion node and seconded it was ussni&st&ly HS50DVKD, that the sale of the 15-acre parcel of real property at Buena Bark, California# belonging to the Cosp&ny to United Wallpaper, Ino*, as set forth in the Solas Deposit fiecelpt Agreeneat dated April 6, 1957 suldtted to tbs neatly end authorizing the conveyance of the follcvii^ described real property to said United Vfellpeper, Zae, be and the asae is hereby authorized and approved* All of lots 7# 3 and 9 in block A of the Buena Bark Euca lyptus Tract, in the city of Buena Park, county of Orange, state of California, aa per sop recorded in book 5 page 25 of Miscellaneous tops, in the office of the county recorder GLD0081U 1/20/58 1 of said county, tad tfcooc portions of lot 2 in said block A end of Ifeuftet Street vacated by resolution of tho Board of Supervlsoro of Orange County, a $opy of. which was k^ooi^fid soptce^r 11^ ^'bool: 1^9 pe^o of Official Records and of Botryoideo Street vacated by reso* lutioaof the Board of tv$crvicorc of Ot o as o County, e ' copy of vhich vaa recorded October 8, 1952 la boefc 859^ pose lOf Official Records, lying north of o line parallel with the castor lino of the un*n$s5d street (/ toxwa b Eighth Street) adjoining the south lino of lota 1 to 6 of Whitaker9** Addition to Buena Park cs per nap recorded in booh 25 pQ$> 10 or Hiscellanoous Records, in the office of the county recorder of Lee Armeies County, California, which parallax line intersect* the center line of Xhott Avenue on the vestt (cbm as "County Bead" on said vzp of the Buena Vark Eucalyptus Tract) at a point vhich is north HlT.pl feat froa its intersection vith the said center lino of Eighth Street and South lolo.tp feet freo its Intersection with the center line of the Southern Pacific Bollrced Coqpasy's right of vay 1X50 foot vide* . EXCEPT that portion thereof included vithin a atrip of land fbet vide which lea 17 ftect Southerly and 2d feet Northerly of the renewing described lines Beginning at a point on the center line of the sold Southern Pacific Ball* road CoBpony9* 100 foot right of vay South 97 029 09" East 12fel.30 feet along said center lics froa Its lstersectlOB vith tbs vest line of "See. 35, ? 3 &, R U V, as indicated on said mp of Buena Park Eucalyptus Tracts thonco South 32? Si* 55w Vest 35.00 feet; thence South 6l $VU$* Vest *27*70 feet to tbs beginning of a curve, tangent, coo* . cave northwesterly and having* radius ot 30Q feet; thence Southwesterly dcog said curve through a central angle of K5 58* 5t% n are distance of 68*$2 feet; thence South 1&> 299 10* Vest 565*1 feet to point in tbs said vast 11ns of section 35, distant thereon Couth cr 30* 50 East 1210*00 feet fron the oertteest corner of said section 35, os ooovoyed to the OnsngeCounty Flood Control District by deed . recorded Hay 6, 1555, in book 3057 pass 39** of Official Records, in the office of the county recorder of aid county* ALSO EXCEPT that portion thereof described a* follows) Be* ginning at the intersection of the northwesterly line of the said *5 foot strip of. land ooaveyed to the Orange County Hood Control District vith ths coutteesterly lias of sold Southern Bscifio Railroad Ccspwy's 100 foot right of way; them 86rth* westerly kO,00 test along said oorthwesterly right of vay line; them Southwesterly 73*55 ftet at right angle# fires the said southwesterly right of v*y line to said noarttesaterly line; them Partheasterly 83*72 feet to the point of begto&lt$, also as GLD008112 1/20/58 u conveyed to the Oraaga County Flood Control District by deed recorded Kay 6> 1955/ in book 3057 page 394 of Official Iteeord*/ in tbo office of tbs county recorder of cold county* nutCaSn RS33LVED, tbit the pre^r officer# of tMe Company bo end they era hereby authorised to execute such docutwrats of conveyance, transfer and assigreaent end to take such other action no ray bo neceseaxy to cc$urutja&te said sale* On notion node and seconded the Cccaittoe unanimously approved a eon* tract vlth The American District Telegraph Ccqjary dated January 20, 1958* *n*s contract provides for the installation of cortain vaterflav indicators end other c^uipoant pertain to cm olom oyster at the faint Dividon'o Cleveland plant and is terainable on September 1, 1950. 5^urrig charges of $1/809 vill be incurred annually under the egraesent* There being no further business to cotj? before the Cccaaittca, the locating vos adjourned at t:00 F.H* G LDOO 8113 1/20/58