Document 93X6gNaNqzGNbaZ4eV8neMdk3
reggujjgf kgsjiHG Pels. 26. 1946.
Nil 104
V-
PNTC00006761,
INTERNATIONAL SMELTING AND BEFTHING COMPANY
DIRECTORS1 MEETING - FEBRUARY 26, 1946
~
~ PROGRAM
~~ "" 1
(Secretary's Copy)
IlsOO A. M.
/ LA : i
DIHEC10 R, S
Cornelius F. Kelley-
W. H. Hoover
Frederick Lalst '
Robert E. Dwyer '
Clyde E* Weed v
James R; Bobbins Sy
io
~E.
0.
Soweer^nwJlne Ja a J-'i ,
J,
Minutes of the Meeting held January 22, 1946, to be read and approved, f
Presentation of Statements of Net Inc.ome and Net Current Assets as of January 31, 1946.
/
Approval of Appropriations:
No.
Description
Amount
113*
Rebuilding equipment necessary to produce lead sulphate from white lead at the White Lead Plant, East Chicago $ 9,000.00 .
171*
Relocation of packing equipment at the Zinc Oxide Plant,
East Chicago.
19,300.00 -
* These Appropriations are for the purpose of enabling the plant to produce about 1800 tons per year of leaded zinc oxide from by-products produced in the muffle furnaces and lead sulphate to be produced from white lead and sulphuric acid. The relocation of the packing equipment will remedy a bad situation which now exists in the sine oxide packing plant.
'A
159-A
Cancellation of excess appropriation in connection with
Estimate No. 159 covering the replacement of 17 open
knife switches at the Tooele Plant.
273.46
______________________________________________
_______________ ^ - -vT-TZlATZ J
Resolution to be adopted authorizing the proper officers of the Company to //
execute deed covering the transfer of Lot 8, Block 1, Elton Subdivision,
v
Tooele, Utah to Ernest I. Reddick and Lucile B. Reddick, in consideration of
the stun of 1.00.
r
Resolution to be adopted authorizing the proper officers of the Company to execute deed to Herman Pedersen covering the release of approximately 49.534 acres in Tooele, Utah, known as the Edgemont addition, in consideration of v
the sum of $2,000.00.
Adjournment.
PNYC0C006762
2to2MIiKj1ItBlijaDElQ^
SECRETARY'S COPY
RESOLUTION REGARDING DEED COVERING TRANSFER OF PROPERTY TO ERNEST I RSDDIC? AND: DOCILE B. REDDICK;
RESOLVED, that the proper Officers be and. they hereby are authorized to execute deed, dated February 1, 1946^-ln favor of Err.e31 I, RedRick and Lucile B> Reddick,"Ills wife, residents of Tooele City, Utah, covering the foilowing .deachlbed: property:
All of Lot 8, Block 1, Elton subdivision. Plat "A", Tooele City, Tooele County, State of Utah*
RESOLUTION REGARDING DEED COVERING SALE OF LAND TO HERMAN PEDERSEN; RESOLVED, that the proper Officers be and they hereby are authorized to execute Deedf dated November 15, 1945, in favor of Herman Pedersen, a resident of Tooele, Utah, covering the following described property: Beginning at a point South Eighty-nine degrees Eight minutea Thirty seconds (89 8' 30") West Thirteen hundred twenty-six and forty-seven hundredths (1326.47) feet from the Northeast corner of Section Twenty-3even (27), Township Three (J), South, Range Four (4) West, Salt Lake Meridian; thence South 0 degrees Fifty-two minutes (0 52') East Sixteen hundred seventy-two and seventy-nine hundredths (1672,79) feet to the Right-of-way fence of the Tooele Valley Railroad; thence South Eighty-two degrees 0 minutes (82 O') West Nine hundred nine and three hundredths (909.03) feet; thence North One degree one minute (1 01') East Two hundred ninety-four and twenty-Six hundredths (294,26) feet; thence South Eighty-two degrees thirty-five minutes (820 35*) West Four hundred four and twenty hundredths (404.20) feet to road fence, thence North 0 degrees twenty-nine minutes (0 29') West Fifteen hundred fifty-six and thirteen hundredth* (1566.13) feet, thence North Eighty-nine degrees fifty-seven minute* (89 57') East Twelve hundred eighty-four and twenty-seven hundredths (12Q4.27) feet to beginning containing 49.534 acres.
PNYC000C6763
. INTERNATIONAL SMELTING AND REFTHING COMPANY SUMMARY OF REGULAR MONTHLY MEETING OF BOARD OF BIRECTORS
HELD JANUARY 22, 1946. (PrtTloua Meeting)
Minutes of the Meeting held December 26, 1945 were read and approved. Statements of Net Income and Net Current Assets as of December 31, 1945 ware approved and ordered placed on file. Resolution was adopted ratifying and approving the action of the Officers In authorizing adjustment of Appropriations in connection with Estimate Nos. 160 and 470, resulting in a credit of $94.40. Resolution was adopted ratifying and approving the action Of the Officers of the Company in authorizing Contribution of $5,000.00 to the Mormon Church Monument Fund for the erection of a monument at Emigration Canyon, Utah.
Adjournment.
N11104.01
pNYCOOOdQ|64
urtsBumoga. s ms l t x bs as p b e -is ih g c o mpah i
ms md bar o t v i ?oa oiaacTCRsi Msariso - f s bbu abt 26, 1946
ESTIMATED B3T IS3DITS
Smelting Department Baritan Copper Sorts Lead Refining Department Sine Oxide Department White Lead Department Miscellaneous Income
Deduct: Administratire Krpensee Capital \'Stock Tex
Miscellaneous Taxea Interest - Anaconda Copper Mining Co,
Lose - Depreciation & Obsolescence
Leas - Federal Income Tax
RET 15C0ME
Add -- Set Income of Subsidiary Companies
C0B30LIPATKD SIT ISC0ME
Month of January
19+6 $ 12,610
103,615 8 -043 '>,690 6,993
$113,731
$ 7=500
$ 7,500 $106,231
50,840
$ 55,391 21,000
$ 3+,391
Jfcnth of January
19+5
$ 7,+27 102,802 11 ,+21 2,283 10,1+5 5,265
$139,3+3
$ 7.+73 +17
16,979
$ 2+,869
$114,+7+ 55,76+
$ 58,710 16,+00
$ +2,310
BALAECE - January 1, 19+6
COSSOLIDATEP S0HPLD3 ACCOOKT
ADD - Set Income - One Month ended January 31, 1946
3ALASCl . January 31 19+6
$803,11+ 3+.391
$837,505
^11104.02 PNYC0C006765
INTERHATIOMAI S.MSIJITO AffD: REFIHIHC COMPAMY .'.'-EMORAMSm FOR DIRECTORS1 KEEIING - FEBRUARY 26. 1946
ESTIMATED HffP INCOME - SMELT IRQ DEPARTMEMT
Tooele Lead Plant Tooele Copper Plant Tooele Sulphide Concentrator Tooele Slag Plant Miami Plant
Deduct: Tramway Expense Outside Exploration Selling1 Commission Oxide Concentrator
Less: Depreciation RET DOOMS
Month of January 19*6
$ 23,899 2,244 9,189
26,081 23,000 $ 9,405
$ 197 416
2,,000 592
$.._ 3.205 $ 12,610
17.7U $30.321
Month of January 1945
$ 5,466 26,472 3,002 19,621 29.500
$ 14,179
$ 134 3,814 2,200 604
$ '6.752 $ 7,427
16,683 $ 9,256
^11104.03 PNYCCC0C6766
IOTgRBlTIOHU, SMELTISG ASP REFIHIRG COMPtKT MBBRAMStM FOR DIRECTORS' MEBTIKG - FEBHOART 26, 1946
ESTIMATED RET INCOME - RARITAIT OOPPSB IQum
profit on Toll* Profit on Premiums Profit on Gilding Metal Profit on Sales Electro Sheet Department Uiecellaneone Income
Lass - General Expense Selling Sxpenses Buying Srpenasa
-
Less - Depreciation Ket Income
Month of January
1946
.. $67,105 . 35,279 2,160
1.975 2,141
400 $104,740 $ 1,000
125
$ . 1.125 $103,615
-g?-+5* $ 78.163
Month of January
1945
$77,550 17,265 6.586 2,860 1,884 2,582
$104,959 $ 1,000
294 863 $ 2.157 $102,802 2*7?
$ 73,052
^VU04.4
PNXC0C006767
IsSSSSSFHSTIm&JKuRIC
INTEBNATIOKAL SMELTING AND BEFIHIHC COTAF-CIY 1 MEMORANDUM FOB DIBBCTOBS'' MEETING - FEBRUABT 26, 19*6 ESTIMATED NET, INCOME - LEAD REFINING. z in c o x id e : a n d mu t e l f &d d e p ar t me n t s
LEAD REFINING DEPARTMENT Operatlag Income Depreciation
ZINC OXIDE d e p a r t me n t Sales of Zinc Oxide SlaV Zinc
Cost of Sales - Zinc Oxide Slab Zinc
Operating Froflt: Zinc Oxide Slab Zinc
Depreciation: Zinc Oxide Slab Zinc
Set Income: Zinc Oxide `Slab Zinc
ZINC OXIDE Pounds Sold Sales Price Cost of Sale*
s l ab zin c
Pounds Sold Sales Price Cost of Sales
WHITE LEAD DEPARTMENT Sales of Lead Products Cost of Sales
.Depreciation
SETT INCOME
Pounds of Lesd Products Sold Sales Price Cost of Sales
Month of January 19*6
$ 8,0*3 2-958
$ S.Q85
$108,512 79,066
$100,822 79.066
imlm
$ 7,690 $ 7,690
$ 1.5*0 $-T3*r
$ 6,150 $ 6tl50
1,525,000 7.12* 6,60*
950,262 8.32* 8.32*
$129,582 122,589
$-T,W
$ 3.81* 1.*97.6JO
8.65* 8.19*
Month of January 19*5
$ 11,*21 2.932
$ 8'*b 9'
$ 72,190 **,223
$m,*i3
$ 69,907 **.223
$mti35'
$ 2,283
rrm
$ ls*9*
rrm
$ 789
$--~m
869,110 8.30* 8.04*
520,092 8.50* 8.50*
$199,887 189,7*2
$ ;' *,905
$ 2,312,*20
8.64* 8.20*
pMYC00006768
N11104.05
INTERNATIONAL SMELTING AMI REFINING COMPANY MBTOBAHIPM FOB DIRECTORS' MEETING - PE5BUART 26, 1946
NET CURRENT AND QTHEB ASSETS -JANUARY 31, 19*6
CURRENT gSSarS:
Supplies
Metals:
In Process
Finished:
Lead
7,711,574 lbs. C
4.46a*
Copper
17,754,56} lbs. d
8.987*
Silrer Gold
2,000,062 on. S
58.52 *
11,502 oss. 8 $3*.*4-
By-Products
Reserre for Freight db Refining Charge*
Manufactured Products: Lead Products Zinc Oxide Mixed Metals Raritan Copper forks - Electro Sheet
Accounts Eeceivable: Tolls Others
Inter-Company - Anaconda Sale* Company
Cash
CURRENT LIABILITIES: Taxes Accounts Payable Wage* Payable
NET CURRENT ASSETS
UTHER ASSETS: Installment house and land tales and other accounts receivable, leas reserve
BALANCE - NET CU5SBST AND OTHER ASSETS
I
I
$ 344,553 1,596,472 770,468 396,125 23.093
$3.TJ6!ni 567.609
$ 178.495 376,294 98.796 6,568
$ 847,830 544,019 464,544
$ 144,905 1.153,643 125,925
$ 903,106 2,325,210
2,563,102
660,153
1.856,393 343.520
$8,651,484
1,424,471 $7,227,013
9.632
Cc :o q 6 ?69
N11104.06
IJSBKPIKf
an^pswisssti'
!
INTERNATIONAL SMELTING ,J1D REFINING COMPANY MEMORANDUM FOB DIRECTORS1 MEET IMG - FEBRUARY 26. 1946
SALES, DELIVERIES ASX) .-ROSUCTIOK - ALL, DEPARTMENTS
SMELTER PRODUCTION: Copper - Lbs. - Tooele: Custom Toll Miami: Custom Toll
Lead. - Lbs. - Tooele
SCRAP COPPER RECEIVED AT PERTH AMBOY Custom Fabrication Toll
REFINERY PRODUCTION Copper - Grose Less - Toll Scrap
Lead - Lbs. Silrer - Ozs. Gold - Ozs.
SALES: Copper - Lbs. Tooele Miami Raritan
Lead - Lba
DSL 17 ERIE i
Copper - Lbs. Tooele Miami Raritan
Lead - Lbs.
ZINC OXIDE: Production - Lbs. Dellrerles - Lbs.
SLAB ZINC Production - Lbs. Dellrerles - Lbs.
Month of January
1946
Month of January
1945
121,379 419,764 .
215,487 9,578,485 I5/?3?*n? 37*88 ^36
969,348 672,819
357,920 12,899,680
W.W.W
"7,357,204
287,954
1.587,435 r.875.387
162,087 1.387.366 Trri9.4?T
42.547,952 1,587.435
40.9ko.5i7
6,670,067 563,746 4,514
27,817,340 1,387,366
sr.ai.m
6,527,376 784,192 6,972
100,000 50,000 250
1$2,250` .
6.179,059
1,100,000 400,000 250
TTj5'e.'j?0
4,789,133
121.379 215,487
-
JST.W4-
5,979,348
11,,554265,,200000
50,800
950,262
969,348 357,920
250
"IT 527.518
4,099,735
710,200
869,110
700,000 520,09.2
I-er Cent Increase Decrees*
27. r 3.9
21.0
55,0 2,2
2.l
n5.9 29.0
74.6 45.8 117.7 75.5 52.7 82.7
pHtCOCOOO^0
w
DEEDS Ernest I. Reddick "and Lucile B. Reddick Herman Pedersen (See Pile "DEEDS" - Polder No. 5)
mno4M
.PNYC000C"6 771
uiaaiaWWran
INTERNATIONAL SMELTING ASP REFINING COMPANY
CONDENSED SUMMARY OP MINUTES DiRECTo!g,nmTTl^'r!gEBHWMT S5'. 1946
Minutes of the regular monthly meeting of the Board of Directors held January 22,1946 were read and approved*
Statements of Net Income and Net Current Assets as of January 31, 1946 were approved and ordered placed on file.
Resolution was adopted ratifying the action of the Officers in approving Appropriations In the amount of $28,300.00 and Cancellation of excess appropriation In connection with Estimate No. 159 covering replacement of 17 open knife switches at Tooele Plant in the amount of $273.46.
Resolution was adopted authorizing the proper officers to execute deed covering transfer of Lot 8, Block 1, Elton Subdivision Tooele, Utah to Ernest I. Reddick and Lucile B. Reddick in consideration of $1.00.
Resolution was adopted authorizing the proper officers to execute deed to Herman Pedersen covering release of approximately 49.534 acres in Tooele, Utah, known as Edgemont addition, in consideration of $2,000*00
Adjournment.
PNlrC00677^
N11104.09
A rogular ana ting of tho Bou4 t Dirootora of tha
XHX'-HBaTIOVAT* JMELIIJW AJtO kSFlMIHQ CO*?dK ail hold at tha
offlea of tha Conpony, o. U SroadM^ law fork, I. T., on
Tuaadoy, Pabruary lid, 1940, ak UsOO o'aloak A. .
BHKaBXti ABSAXTI
Maaara. Prodarl ah Ini at lohart B. Dwyar Clydo I. toad Jnnan 8. Mbblna Bihart 0. Sowarwina
Camallua T. Kalloy . E. Kaorar
In tho abaanow of kho fraal4oat, hr. Fradarlek Lai at,
Tloo Proaldant, aakad ak Chaiman of tho hooting and hr. C. g.
Mann# taaratary kharaof.
Tho alnutas of tho rogular monthly anating of tha Board
of Dlroatora hold Janaary 8k, 194d work road, and an notion duly
aada, aooondod and adopted war* approrad.
Tho Cholrnan proaontod to tho Mooting ateteaonte of
dot Tinw and of lot Currant Aaoota, a a kinatod aa of January 31,
l*4d, wblah, on notion Only aada and aooondod, woro approrad and
ardorod plaaod an filo .
On noklan duly aada, aoaondad and unoalaoualy adopted.
It anai
IBS3OTB, that tha aatlon of kko Offloora af tho Coapany in approving tho following Approprlatloaa and Oaaoollatloa ho, oad tha aoaa horohy la ratlflad, approrad and aooflmadt
111
Ilk
UlEifliai
tehuilding ognlpnont nooossary to prodnoo load aulphato fraa ahlto load at tha Bhtta load Plant, Baat Chioago
iasssi 09,000.00
1T1
Rolooatioa of paoklng aqulpaant at tha Zina Qxldo riant, Baat Chioago.
19,300.00
Canoollatloni
159-A
Canaallation of ozeoaa appropriation In aonaontion with Batina to Bo. 199 aovoring kho roplaooaont of 17 opon knlfa awltahoa
ak kho Tooolo riant
373.49
PN7C00006 773
N11104.1
*
The SeOrekary presented Deeda prepared la mo miUo d
lth the transfer aad h U or cartaln lul located la fsttUi Utah.
On action duly aada, seconded and unaaiaoualy adopted.
It Nil
KXBOLTKD, that the proper Offleers of this Coapeay be ad they hereby are aalherlasd to eases te deed dated Febru ary 1, IMA, eeverlac the treaafer of Let A, Bleek 1, Alton SwMlTlaloa, Toeele, Utah, te Xraest I. Bcddtak sad Luelle A. be Ad let, hie wife, reeldente of tbeele City, Utah, la consideration of the ana ef One Cellar <#1*09,
On notion duly aade, eesooded aad uenelneusly adopted.
It aaai
KXSOLTXO, that the proper Offleera of thla Coapeay be and they hereby are eatherleed to eaerute Bead, dated lorne bar It* IMi, la Avar at temea Pedersen, a resident of taeele, Utah, la eonslderation of the sen ef Toe Thousand Cellars (A#000.00) eeeeriag the Mlsslaf described property)
lenlanlea et a point South tlstitr alee decrees lUM alnatos Thirty seconds (AA A* JO*; Met Thirteen hundred Meaty ala end fortyeaten hnadrsdtha (UM.4T) feet fron the lertheast earner at Bastion Treatyearns (IT), Toonehlp Three (J), South* Bnoae Four (4) abet, Adit Labs herIdles) theess Seuth 0 dearsee Fifty tee niautos (0a*') Beet Blstosa tndril sematytee end aeoeatyalaa haodredtha (IdTB.Tt) feet to the BlCht-sr-nay fosse ef toe Tooele Thllay Bailreedt theses Aouthllehtytoe is erase 0 atantes (AC* O') Aset line ton laid ala* sad three toaaredthe (tOA.OJ) fast) thanes Berth one hpet am slants (1* 01'} Beat Tm hmdred alas tyfour and t-atp ati In iiedri Ito (BM.M)_|betf thanes SouthHhty
rt lirni thirtyfire alaotee (A*4 J4) Beet Four hundred
four and tonety hroulredtha (dOd*M) Cant to rend feaee, thenoe Barth 0 dMHNM toontynlae Mmtoc { ) heat Fifteen --deed HftynlS aad thirtom bahiitti (ISM.lJ} feet, theaee Berth Blektyalns decrees flftr aema el an toe (at* AT') Beat toblte hnml elchtyfmr aad toentyeevan headredthe (1BA4.ST) feet te te^ntti aantele! ns dS.BM asree.
There being am farther beeleeee before the Beard, an
nailan dOy ends, eeeeeded aad adapted, the neetlac adjourned.
(CORPORATE SEAL)
(S) 0. E. MCRAH teeretaryT
(S) C. F. KELLET fan tman.
PNYC0000677^