Document GGr4ERzmz6QkoqGpKGRVppEm

CITY" subj ec t Cleveland, Ohio February 23, 1959 All Directors DATE FOR Matters on which Dircctora mi/or Executive Ccnnlttee Action hao bom Taken and on which otter Action 1* fending ANSWERING TETTER OF FACTT Division 1* (7) - We are still awaiting receipt of mmwted eapiea of the Tbchaolo^ical ttc rvlce and Trademark AgreetHSute approved by our Director* July 29, 1953. No nply has as yet been received to ti folloiMxp Letter written by Mr. Dupont on February 1959* CtogporaUon,tf CgpXfo (7) - Dlscusoions with Mr. Ayres, General # principal stockholder, have been deferred until such tine m he le Able to represent a controlling interest of this corporation in hie negotiations. 3* Se&sso Kato> Kaloha. Ltd. (6) - It is anticipated this matter till be discussed firing Mr. rtoawaurarB visit the latter pert of this month in connection vlth renewal of lehihars's titanium dioxide contract. 4. Finska Fyfl och Fernlsofobrlto (17) - We are still waiting receipt of executed copies of tJis industrial point I.ieense Agreement approved by our Directors Baptertbcr 34, 1937* fte reply has os yet been received to a follow-up letter written by Mr. Dtpont on February 2, 1959* 5. PpdfftM Faint Cownaay ^of Ysacguyer (3) - Kegotiatlorw for the acquisition of the stook or assets of this corporation, ae authorised by the Directors Hoveaijer % 195O, have been swatting devTiojfwwato vlth reopect to the General Paint Coiporatlm of Canada. However, Jt is now contemplated by Mr. Dorftaayer that negotiations vlth Tfrxtfb*s vlJl proceed as soon ns Mr. Ikmean has had an opportunity to meet and discuss this natter vlth Douglas* Kr. Grant. m&m 1. Bcraoton Plant (0) - There have been m new developments. We ore awaittog a report on the Truetoe*s *fforte to salvage IHMont~Mxplann f Marins Instruments, Inc. as a going operation prior to initiating efforts which we believe, If the corporation is not rehabilitated, vlll pemtt us to secure title to the properly covered by cur mvtrpat t a price coirmnurote with its fair mrket valvie vd establish a claim ns a general creditor for the balance of the indebtedness due us* FppD piviaiow 1* Proposed gala ofJBorwalk float (30) - Another prospect is currently investigating this property.if Tt afjpcarri ^ 4* not interested in submitting an offer, the property will bo listed on an exclusive basis with a real estate igrat at $181,345 (appraised GLD009969 N 2242 Pending Matter* -a- 1959Wbiuary 2h value), with the understanding we will consider offer* from $153/635 up (the net hook valuo), a* authorised by the Executive Comities on February 10, 1959. 9. (6) - 1* anticipated the pto&m a^thoriised by the l-vccuttvc Ceanittee on former 7# 195# to secure option* on virto*'n pro^ertlMj in the Bergman Street area vlH be eonpleted thla nonth. Nego tiation* will thexevgpoa be reopened vlth the LoulsvlLU Textlie* Coepany for the purchane of tho preforrrd tract J.wiediately ndiolnlng our Louisville plant. 3- feagfloftAottilsUloo of Proyrty oa ia*ton Avenue in Chlc*> -* the Jktttisr lAinfcar Coepany ha* rojtectsd "nr offer of $I.V> per square foot for epproxinately w,000 C're.w fe*t- r>f it* property on Riston Avenue. Bo further action la contemplated pending an intntlotion by Mr. Pollard as to Whether it is absolutely essential that vo ncq-ilro ft'lrtniunM pr-^rt.y in tltin area at this time. __________ Q,; -- On FSbr.iary 1 1959/ the Executive Corsnltteo authorised ti*v luting of this property with a m\ estate brobsr on an Oflclunlve had si for -t n^OoOoOo (highest apprealisnal), wniilth the understanding we muld consider offer* from 771/000 (lowest appraisal) up. Bid* will be solicited this week for dismantling *r\d disposal of the buildings, machinery and oq'iljnent. A tents- tire offer -r $60,090 w* mcelved iribeeyvwt to the Executive fomlttee** action. Due to indications rrw brokers that prospect* exlet at the $73/000 level, the offeror was advised that hi* offer vcald have to be increased to approximately $69,000, Which would net us tha sq?pro*imte equivalent of a sales price at the higher figire lest real estate commission. m/m cmiQAL mmm 1. ??PS>P^.Bate- gfj/jpfl (*>) * American Nortt has accepted cwr propoasal that it purchase a,, iA>.-*neal of our unireproved land at dadMonrille for $3500, with the right in uo to repurchase at the same price* Ae3a IQIWBQ* WaMmaJfXe WM aIlafa W(m the process of preparation. BKSEABCE PKPAWMCTT 1. >ow been reel of the srprorira fronting on tha Ohio Tutrolbe in Broadview Hsl#rt* as a site for a Central Research laboratory. It le anticipated current negotiations will reeult in our Obtaining an option on the 16-acre parcel. However, alternative site* will be investigated before a definite proposal for purchase of the Broadview Haight* property la eiftaltted to the Executive Committee for approval. CKtlnAL 'VTtA COMPANY A* Central Qoya Conpapy (l) - Negotiations with GLD009970