Document ByGJj4pJ63kp5E6zRvQbmo56j
BOARD OF DIRECTORS MEETING
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PNYC0OOO6842
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PfTERMATIOKAL SMELTING AND REFININC CCUPAHY DIRECTORS' MEETING - SEPTEMBER 2$, 194$.
Seoretery' Copy 11:00 A. M.
PROGRAM
DIRECTORS
Coraeliu F. Kelley-- William Wraith vw Frederick LaistV/ Robert E. Dwyer'/
Clyde 8. Weed---------James R. Bobbin*--
Elbert 0. Sowsmine
Due to lack of quorum the meeting of August 28, 1945, was adjourned. Minute* of the Meeting held July 24, 1945, to be read and approTed.
Protestation of Statements of Set Inoome aad.Iet Current Assets as of August 31, 1945. to be sread and appro-red.
Approml of Appropriation:
Ho. Desorlptlon
151 For a Tale Sooop Truok for the Bast Chisago Plant
- Installing natural Gas Bquijmjant'^jrjej^mmmhden'-K*. s*Sh Miami Uippei tUlllMUy'
169 Installing a 2HP 10C+ Pressure Boiler at the East Chicago Plant
Amount
6,300.00
12,315.00
. 890.00 19.505.00
Resolution to be adapted ratifyfi^ and appro-ring the notion of the Offioers of the Companyin axeouting on Auguat*l6, 1945i,]_-i behalf of the Ccnpasy, Gas Sales Agreement with the ` El Paso Natural 8a* Castpany aererisg Mia purchase of Batumi Gas for Industrial us* at Inspiration Arlsena.
RESOLVED, that the aetlom of the Offioers of the Company in executing on behalf of the Company on August 16, 1945, Gas Sales Agreement between the El Paso Hatural Gas Company and the International Smelting and Refining Company, oorering the purchase of Hatural Gas for industrial use at Inspira tion, Arison*., be and it hareby is in all r aapeota ratified, approred and oonfirmed.
Adjournment,
PNVC00006843
INTERNATIONAL SMET.TTNft ASP REFINING COMPANY SUMMARY OF REGULAR MONTHLY .MEETING OF BOARD OF nTffEr.Tnss
HELD JULY 84. 1945
Minutes of Regular Monthly Meeting held Jtae 26, JL945 were read and approved.
Statements of Net Income and Net Current Assets, estimated as of June 30, 1945, were approved and ordered placed on file.
Resolution was adopted ratifying and approving the action of the Officers of the Conpany in authorizing Appropriations in the amount of $14,550.
Resolution was adopted ratifying and approving the action of the Officers in executing on behalf of the Comparer on June 25, 1945 a Supplemental Smelting Contract with the Miami Copper Company, extending and modifying the Smelting Contract between the Miami, Copper Company and the International Smelting and Refining Company dated November 16, 1929, foeretnfei e mullflBd ami gJL58'fia.Ud
Resolution was adopted authorizing the Officers of the Company to execute a Warranty Deed conveying and granting to Alice Marsden UcLaws and Willard L. UcLaws, a tract of land in Tooele City, Tooele County, Utah, known ass Lot 14 Block 2 Kelsey Subdivision, Tooele Cits Utah far the sum of $250.
Resolution was adopted ratifying the action of the Officers in fixing the declared value of the Capital Stoek of the Company as of December 51, 1944 at $10,000,000. for the purpose of filing the Capital Stock Tax Return on or before July 31, 1945..
Adjournment.
P*YC00006844
\
N11108.01
UTMBTATIOgAL ilDMIB iP HBIlm; g>wT
jEBcaupai FoapmoKBs* mnis . spyaww ^ im
8STIMATE) ST! noon
Staelting Department Baritan Copper York* Lead Refining Department Sine 0x14* Department White Leal Department Accrued Intereet on idraace* to
Leases Sold
Miscellaneous
Month of Angnst 1945
$ 28,152 80,991 8,860 14,140 8,052
Deduct!
Glaciar Peak Leu* - Cancelled Adranee* Written Off Lou on Sol* of Claims!
Talker Mining Company Admihistratire bpsnsas Capital Stock lax Mlaoallaneoua Tart* Interest - 6% Detanturss
- Anaconda Copper Mining Co,
* iiiM
$* ^
8,000 1,042
$ 9,042
Lm - Depreciation fc Oheoleecanca
8 56,745 &&&.
Federal Inoone Taxes
nr neon
$ 10,234 2.800
7,43+
Add - let Income of Sabsldlnrjr Companies -
00130LIDAT*D JUT OTCD*
Month of July 1945
$ 49,983 76,920 6,228 15.848 5,485
$ 54,498
*-
7,990 1,042
30
$ 9.062 8 45,436
f6.ii*6 $ 1.110
$ 1.110
$ 1.110
Sight Vos, ended Aag, -31. 1945
$ 150,932 928,459 49,58? 95.889 31.589
18,500 18.296
$ 928.208
Sight Mos. ended Aug,
31, 1944
$ 50,709 714,121 67.758 46,632 32,010
-4frlff
* 757,889
$-
$ 60,711 45,240
44,628 82.318 12,084
5.963
56.501
$ 201.494
726,714 12ia?71.
$ 330,443 113.693*
72,192 6,667 8,223
234,639 92.816
$ 520,488
$ 237,401 "jiffs
$ 204,194
$ 216,730
$ 204,194
163 8 ^2SS1S6S.E9S1S3mi
74,779 8 278,973
COWOLIDAgB) 30BPHB ACOOC1T B1LUCT - Jaurj' 1, 1945 (Adjusted)
j SE
- ** Inooa* - Sitfit Month* ended Aogort 31, 1945
BADUCT - August 31, 1945
*Includes - 1939 Federal Iucoma Texas - Int*r**t on *u m "
$25,498 8.295
PNrC0000684s
N11108.02
DiTEBirmom s me d t h t g - a s h r e p iu iu g c o mpa f t ItasORAKDUM FOR DIRECTORS1 ItBETIEC - SEPTIKBEB. 25. 1945
ESJ.I1H.TBD RET IRCOMB - SMELT IRC pCPitmrain'
Tooele Lead Plant Tooele Copper Pleat Tooele Sulphide Concentrator Tooele Slag Plant Hiatal Plant
Deduct: Tramway Srpenee Outside Sxploration Selling CoBBlielon Oxide Concentrator
Deae: Depreciation
Honth of August 19+5
$33,510 . +76
2,880 18,658
12.909, $25,++8
Month of July
19+5
Eight Hoe* ended lug.
31, 19+5
Eight nos. ended Aug.
31, 19*+
$+8,859 5.879 2,665
22,792 13.2+3 $+7.853
$16<;,6+9 218,951 17,180 185,158 69,789
*H2-+73
$79,+0 1+5.090
59,1+2 178,251 117,807 $130,270
$ 129 200
1,800 --a? * 2.70+ $28,152 16,2+6 $++.698
$ 129 191
1,235 575
$ 2,130 $+9,983
16,28+ $66.267
$ 1,060 16,+03 16,367 +,629
* 38.859 $150,932
132,630 $283.562
$ 1.551 +6,3+5 22,386 9,279
$ 79,561 $ 50,709
152,153 $101,444
pN*C00t068<*b
-- V*R*'*
IBTE5HATI0HAL, SMELTISO AKD RSFISIHG COMPATf MSjfOS-AJIltJU FOB DIHECTQBS' MEBTI1IC - SEPTOtBEH. 25, 1945
ESTIMATED MET ISCOICE - RARITAH COPPER STOUTS
Profit on Tolls Profit on Prsalnas Profit on Gilding Metal Profit on Sales Electro Sheet Department Klscell&nsotui Incoas
Leas - General Expense Selling Expenses Buying Expenses
Less - Depreciation
Month of Angust
194-5
Month of July 1945
$34,971 ' 3*9,917
1,984 9.410
.388
800
$82,726
$44,132 26.548 2,900 10,326 691 791
$79,588
Eight Mos. ended Aug.
31, 1945
$598,671 173,928 78,260 87,433 4,213 11,852
$944,531
Eight Mos. ended Aug.
31, 1944
$542,307 37,866 62,310 82,547 11,666 16,549
$729,913
$904 831
' Ui22L
$80,991
$55^48
$ 1,000 837 831
$ - 2.668
$ 76,920
_25x 13
$ 51.785
$ 2,000 7,707 6,765
$ 16,472
$928,459
220,388
$308.971
$ 2,000 6,585 7,207
$ 15,792
$714,121
. 230,703
1
PNVC00006847
N11108.04
nrestonTiam s h e l t ik o a h p e c t h h c c o mp a t t HBCBAJDOU FOB DffiBCT0B3' IfSBTISG - Sepnanreu 25, 1945 ESTIMATED BET ISCOltE - LEAP BEFISIHG. 2I5C OXIDE ABD TOITS LEAD DEPABT1CESTS
LEAD BEFIBIHG DEPABTMEHT Operating Income Less: Depreciation
SET IBCOUB
2 ISC OXIDE DfvP.RTMiBn> Salas of zinc Oxide Slab Zina
Cost of Salas - Zina Oxide Slab Zina
Operating Profit: Zinc Oxide Slab Zina
Depreciation: Zinc Oxide Slab Zinc
let Incase: Zinc Oxide Slab Zinc
ZIBC OXIDE Pounds Sold Sales Price Cost of Sale*
SLAB ZISC Pounds Sold Sales Price Cost of Sales
WHITE LEAD DEPABTMT Sales of Lead Products Cost of Sales
Less: Depreciation
HET IICOME
Pounds of Lead Products Sold Sales Price Cost of Sales
Month of August 1945
Month of ` July
1945
Eight MOB, ended Aug..
31. 1945
Sight Mo a. ended A'ug.
31, 1944
$ 6,860 2,411
t 4.449
$ 6,228 2,818
$ 3.410
$ 49,585 20,636
$ 28,949
* 67,753 23.800
$ 91,558
$146,001 ... V#
*148,556
$131,861 ^2j ?SZ
$178,189 4,184
$182,373
$162,341 4,184
$166,525
$1,034,723 156,765
$1,191,438
$ 938,834 156,765
$1,095,559
$1,011,162 77.798
$1,088,960
$ 965.956 76,372
$1,042,328
$ 14,140 t 14.140
* 15,848 $ 15,848
* 95,885 * 95,889
* 45,196 1,426
$ 46,622
$ 1,302 -L3"
$ 1,199 * 1.199
$ 12.253 * 12,253
$ 16,827 1,084
$ 17,911
* 12,838 * 12.838
$ 14.649 $ 14,649
* 83,636 $ *3,636
* 28,379 342
$ 28,721
1,713,190
8.52# 7.70#
2,104,050 8.47# 7.72#
12,079,750 8.56# 7.77#
11,667,233 8.67# 8.28#
30,550 8.36# 8.36#
50,030 8.36# 8.36#
1,842,726 8.50# 8.50#
921,068 8.45# 8.29#
* 44,857 jzhm * 8,052
1.109
. $ 9,161
520,965 8.61#
10.15#
9
$ 46,164 40.679
$"3,485 1.110
* 4,375
525,136 8.79# 7.75#
$ 442,991 474,580
$31,589 10.364
t 41,953
$ 695,872 727.882
* 32,010 17.028
$ 49.035
4,943,452 8.96# . 9.60#
7,879,864 8.83# 9.24#
PNYC000Q6848
^11108.05
rrmrigiom aranyo iiD b po h io augur MacaumoK f o b b ibs c t o mi* locarno - s e p t bc b b as, 15+5
m cnHBgf a id OTgn a s s et s - ip g o s t 31. m;
CUSHaTT 133FTS, Supplies Metals! In Process Finished: lead Copper SilTer Cold
Byproducts
5,231,851
lhi. *.+68<
18,253.17+
U*. O 5.105*
1,838,050
HU, O 35.55*
16.355.767 ou. o $3+.++
Baser. for Freigit and fiefinin* Charges
*
hmf*etaxed Prodaoti i load Product! Sins Olid!
Earltan Copper Work! - *l!ctre *hast OepartMut
Accounts SscsiTchlei loll! Other!
Caah
$ +12,480 1,661,57+
660,7+3 563,251 _ 17.273 3,315.721 636.500
162.338 322.117
____12*22*
1.105.+25 -M.,222
$1,074,688 2,417,201
2,678,821
454,827 1.525,778
37+.76+ $8,566,075
c o bbo t t tiamniii
-
ftwi
Aoeo-a&ta P*jmbl * in^Oos^anrr^.
Anaconda Sales Oo^M0t'`
.
Other Account! PaynhiiK?"-'f,.
"
Wage! Payable
or curant am
Pig MBIl
Adrsneas te madry alalas coapanlee, including adTaoeea on oree, leas reeerres
laetallaeat houae and land Bale! and ether account! raeelrmhle, leaa reeerre
BALtjCB - IB CTOBBf ATP OTHBB ASSETS
$ 155.005
85 .+55 1.265.606 ___ ?1*1
1.605.252 $6,556,781
$ 1+.5+0 11.+70
26.010
PNYC000068+9 >
N1H08.06
IHTM1TI0J1I, SMELTIHC lim BCTHTHG COMPART
^SUDRITOOM FOB DIRECTORS' MEETISC - SEPTEMBER 26. 1945
SALES, DELIVERIES ASP PRODUCTIOUT-ALl DEP>BTVCTni
SKELTER PRODUCT I OH: Copper - Lbs. - Tooele: Custom Toll Miami: Custom Toll
Lead. - Lbs. Tooele
SCRIP COPPER RECEIVED IT PERTH vunT Cu bton Fabrication Toll Metals Reaerre
RffllHERT PRODUCT 101 Copper - Gross Less - Toll Scrap
Lead - Lba. Sllrer - Osa. Gold - Ois
SlT-ESr Copper - Lbs. Tooele Miami Raritan
Lead - Lbs.
DELIVERIES: Copper - Lbs. Tooele Miami Raritan
Lead - Lba.
ZIIC OXIDE: Production - Lbs. Dellrsries - Lbs.
SUB Z3C:
Production - lba* Delireriea - Lba,
Month of August 194-5
Eight Hos. ended Aug,
31, 1945
Sight Moso ended jtugo
31, 1944
per Cent Increase
77,722 601,515
5,345,280 6,452,738
21% 262 2,195,662 8.268.152 91,380.377 9,l66.651 To 5,3')4.651
3,285,389
155,072
1,172,492
1,327.46a
25,122,759
928,136 10,417,045 "T1.3X5.ia5
7,167,665
12,359,229
3,345,468 89,880,650 1*27753751?
30,831,293
761,000' 8,618,773
690,208 TTTSEOST
o,1:
12.5
12.7
20,332,735 259,567,737
1.172.492 Trtm'.ih
10,417.049 559.146.68H
5,407,426 904,170 7,227
46,033,607 6,265,744
52,525
215,208,964 8,618,773
3ft75W!l91
51,218,523 7,944.069 72,434
20,6
10.1
21.1 27.5
592,000 4.892.000
225,000 2.125.000
1.200
306.677
" B18.2'66' -jTmtm
8.150.000 3.050.000
879.163 T275737TC3
5,790,319 45,630.340 ' 52,059,970
39.3 12.3
219,262 1,200
226.462
4,002,497
4,788,345 2,195,662
306,677 7.2^0.604
31,648,018
9,374,198 3.345,468
920,294 "137639.963
36,835,246
46.5 14.1
997,400 12,383,370 1,713,190 12,079,750
11,841,230 11,667,233
4,6 3-5
58,600 30,550
1,463,094 1.842,726
542,176 169.9 921,068 100.1
pNYC0C006850
N11108.07
AGREEMENT" EL PASO NATURAL GAS COMPANY - (INSPIRATION CONS
COPPER CO.) See file "Agreements"
PNYC00C06a51
Nil 108.08
i l-waimrfMraiMite'-'S**'
A regular masting of tft* Board of Director* of ths
IHTSRHATIONAL SMELTING AND RiPIHIMO COMPAIY was hold at tha
offioa of tha Company, Ho. 25 Broadway, Haw York, H. Y., on
Tuaaday, September 25, 1945, at 11:00 o'clook A, M.
PRESENT: ABSBHT:
Kaaara:
VIUlan Wraith Predarlok Lalat Robert E. Dwyer
Elbert 0. 3owarwina
Kaaara: Cornallua P, Halley Clyde E. Weed
Jamea R. Bobbins
In tha abaanea of tha Praaidant, Mr. Frederick Lalat,
Vice President, aoted as Chairman of tha Meeting and Mr. C. K.
Moran aotad as Saoretary.
As tha August monthly nesting was adjourned due to lack
of quorum, tha Minutes of tha regular monthly Mating of tha
Board of Direotors of tha Cosnany held on July 24, 1945, ware
read and, on notion mads and duly seconded, wars approved.
Tha Chairman presented to tha nesting Statements of
Hat Ineoaa and Hat Currant Assets, estimated as of August 31, 1945,
whioh, on notion duly made, seconded and adopted, were approved
on file.
duly made, seconded and unanimously adopted.
**.***
RESOLVED, that the action of the Officers of the Company In approving the following Appropriations be,
and the asms hereby la, ratified, approved and confirmed:
Ho. Description
Amount
151 Por a Yale Scoop Truck for the East
Chicago Plant
$6,300.00
Installing natural 3as Equipment In Miami Smelter
12,315.00
169 Installing a 2 HP - 100 lb. Pressure
Boiler at the East Chicago Plant
890.00
819.505.00 There was prsasntad to tha masting azsoutsd copy of Oas Salas Agreement between >1 Paso Hatural Oaa Company and
V < <3 O O O
N11108.09
International Smmltlng and Rafining Company coloring tha purooaaa
of Iatural Oaa for Induatrlal uaa at Inaplratlon, Arlsona.
On motion duly mada, aaoondad and unanlmoualy adoptad,
It vaas
RJSSOLVED, that tha aotlon of tha Offl cara of tha Company In aza outing on bahalf of thdi Company on Auguat IS, 1946, Qaa Salaa Agraamaht bataaan tha 51 Paao Iatural Oaa Company and tha Intarnatlonal Saalting and Raflnlng Company, oorarlng tha purahaaa of Iatural Oaa for Induatrlal uaa at Inaplratlon, Arlaona, ba and It baraby la In all raapaota ratlflad, approvad and conf lrmad.
Thara balng no furthar bualnaaa bafora tha Board, oa
motion duly mada, aaoondad and adoptad, tha aaatlng adjMrnad.
(CORPORATE SEAL) da orafe
(5) FREDERICK LAIST Chairman
rn
-Ttsr
2-
'`'"'C0"06. 53
STATS or XX* TORE )
) 33 COONTX or HOT YORK )
We. the underelgnad, FREDERICK LA.IST, Vice President of the IXTERXATIOHAL SXELTIXG AJTD REFIXIRQ COXPAST. a Hon tana corporation, end C. X. XORAH, Secretary thereof, do hereby certify under the seal of said Corporation that the attached and foregoing la a full and complete eopy or duplloata of all prooeedlnga had at the Regular Meeting of the Board of Directors
of a aid International Saeltlng and Refining Coapany, held at the office of the Coapany. Xo. 86 Broadway, Xaw fork, V. T., on Septeaber 25, 1946, aa entered In the Minute Book of aaid Coapany, and la a full, true and ooxrect tranaorlpt and record of eaoh and erery act and thing dona, proceeding had, end notion
and resolution adopted thereat. WITXBSS our reapeotlve hands this 23rd day of
October, A. D. 1946.
-- * C (CQRPOBATI SSAt^
(S) FREDERICK UIST Vloe President
(S) C. E. HORAN Secretary
p '",0004834
N11108.1
8S8WSa
