Document DMzOe6dRB1LOEDwaJnRYOjqQM

Minutes of Annual Meeting -5- June 27-28, 1973 July 1. 1972 June 3C. 1973 Change Active Members "agional feeders Licensees 25 10 3 23 (2) 11 1 8 In Mr. Cache's Report it was indicated that we lost Silver Line Products, Inc. and the Johns-Itaavilie Corporation. At the conclusion of Mr. Gatke's Report, the Secretary advised that Auto Specialties Corporation of St Joseph, Michigan was also terminating its membership. the Secretary was directed to contact Cali-Blok and Scan Pac, Inc. relative to their applying fer membership. There were several comments made concerning some South American manufacturers whom It Is believed are using the FHSI Hunters on products exported to the United States. Amur those mentioned was Pasta Clutch, S.A. (Mexico), Francisco Stedlle S.A. (Brazil), and `lanufaeturas Multiples, S.A. (Venezuela). It was recommended that the Secretary determine if these manufacturers are using the copyrighted Fl-iSl Nushers. Upon motion duly made, seconded and unanimously approved, it was RESOLVED: That the Report of the Mepberhhln Committee je accepted aa read. INVESTMENT ADVISORY COMMITTEE Ur. oison, Chairman of the Investment Advisory Committee, submitted the Report for his Committee. See EXHIBIT 4. In summary, the Chairman pointed out that the luetltutu has transferred a coneids rable amount of its savings bank money to time deposits ;-.t Higher intersst rates. upon motion July made, seconded and unanimously passed, it was K2SOLVLD: To accept the Report of the Investment Advisory Committee as read. THE BUDGET COMMITTEE P.ITCRT Mr. Carl Weber, Chainsan of the Budget Committee, presented his Report with the Propneed Budget for 1973-74. See EXHIBIT 5. in summary, die Proposed fudge! for 1973-74 calls for total expenses of $74,130 vs. the 1972-73 budgeted sxpensea of $73,795. This is an increase amounting to less than IX. The major Item In the Budget is salaries and the budget indicates a slight increase over that actually 3pent in the 1972-73 fiscal year. The only item which is a significant departure from the prior year's Budget Is the amount of $3,500 in the Pending Project category. This figure is for a pension and insurance program which' it la planned will start early la the 1973-74 fiscal year. Opon motion duly safe, secoadad, and unanimously approved, it was FMSI00007