Document 91eJ98z0wyO0Z3kO2d6QXRa2e
Minutes of Regular Meeting of the Board of directors of National Bead Company held at a o . Ill Broadway, New fork City, on Thursday, January 21, 1952, at
10 o'clock A. h.
Present: Messrs. Beschornan, Brodrick, Carter, Cornish,
Croft, Field, McCarty, Rockwell. Sidford, 'iaylor ana Thompson.
Absent: Messrs. Beale, Carpenter, Caselton and horsey.
Present by invitation: Messrs. Bail, Greene and Merrick.
The minutes of the regular meeting held December 17, 1931,
were read and duly approved.
On separate motions the following resolutions were each
unanimously adootea, the roll being called wnere the expendit ire of
money was involved.
nboOLVhf, that the following actions of tne
executive Committee be and they hereby are approved.
Approving ex-
oenditure of
10,500.00 by The nobertson Lead Mfg. Co.,
i<td., for completing tne con
struction of an 30 foot ex
tension to its Montreal Plant.
do 1,400.00 (U. 3. currency,), by The nobertson Lead Mfg. Co., Ltd.,
for purchase and installation of new roll for Lead Mill at its Montreal Plant.
Annrooriating
* 3,479.43, in addition to previous appro priation, to cover cost of extending pig casting machine building, etc., at Perth mbov riant, Atlantic Branch.
do $ 792.81 to cover cost of experimental and development work in pro ducing Lick combination lead bend and brass ferrule at Perth Amboy Plant, Atlantic Branch.
do 516.40 for purchase of moulds for Dross Department, Perth Am'coy Plant, Atlantic Branch.
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Appropriating
Approving ex penditure of
627.55
for purchase and installation of'additional ecuipment for the manufacture of 6" heavy lead pipe at Eckstein norks, Cincinnati Branch.
625.00
by John 'i. Lewis i' at -o s . Co., for the purchase of a Chevrolet couoe for ammunition salesman.
Authorizing the following changes in prices anc terms of
sale of products effective December 23, 1331:
White lead in oil, red lead in oil ana dry wnite lead
and oxides in kegs - prices reduced ljj per lb., for ce-
livery from January 1 to -larch :1, 1351 with usual nro-
tection to dealers to June 30, 1352, against orice re-
auction and with authority for advance dating of invoices,
up to ''arch 31, 1952, where necessary or advisable.
cry wnite lead and basic sulphate in bbls. - price
reduced
per lb.
Dry red lead ana litharge in bbls., less than carload
lots - differential over pig leac reduced 2r per pound,
and terms changed
net 60 days, 2/c 15 davs, to net SO
days, 1% 10 days.
Aoorovine Agreement with ihe Virginia Smelting Corooration
dated De center 25, 1331, for the acquisition of a controlling
interest in the secondary lean business of said company at Norfolk, Va., by means of the advance of not to exceed .100,003. to a new company to be organized to cover cost o: assets to be acquired by said new company from said Virginia Company ana necessar y working capital for said new company, national Lead Company to receive the notes of said new company for tne amount so ad van cea and 60% of the capital stock of said new company.
Approving the action of the officers of the Lorn cany in consenting on its behalf, as a stockholder of Newton Lie Casting Corooration, to the sale of the assets of the latter to uoehler Lie Lasting Co. for Id ,000 shares of common stock of said uoenler Co. without par value anc cash to the amount of tne value of inventories, all as provided in an Agreement be tween said two companies dated January 9, 1332, and in executing in the name anc behalf of the Company, in consideration of such sale, an Agreement dated January 9, 1932, not to compete with said uoenler Company and not to dispose of the snares of its stock to be received by this Company, to the extent and for the resoective oerioas specified in said Agreement.
Authorizing the employment of Joseph . Bray for a term of six months from January 15, 1952, to perform such duties as may be assigned him by the President, at a total compensation of 5,000. and expenses.
Appointing James a . Caselton Principal Agent of the Jon any in Missouri vice George w. Carpenter.
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