Document JJzq3oabNeQwDQDQ4dVk6QgRZ

MINUTES OP MEETING- OP THE EXECUTIVE COMMITTEE OP THE GLIDBEN COMPANY Minutes of meeting of the Executive Committee of The Glidden Company, held at the office of the Company, 1396 Union Commerce Building, Cleveland, Ohio, on September 3* 19^1 at 2 PM. Presents AdriariD. Joyce R. H. Horsburgh R. V. Levenhagen Ata meeting of the Executive Committee held on May 2, 1941 the decision was made to discontinue the hard metal production at Hammond, The decision also was that should it seem advantageous later to resume the production of hard metal that could easily be done because the equipment was to be maintained intact for the purpose. Due to the unusual conditions arising from the defense program the situation has changed since the meeting of May 2,l94l and correspondence and discussions by Mr.P.E.Sprague with Mr.D.N. Burruss of the Hammond Branch has resulted in a recommendation that the manufacture be resumed to such an extent as in the opinion of Messrs. Sprague and Burruss is warranted by the present situation. Because of the high prices of antimonial lead, the strong demand and the limited supply, it is apparent that profitable sales can be made on the basis of buying virgin metals and making the alloy therefrom. This is particularly true on defense contracts where priority supplies of virgin metals are obtainable. After a thorough discussion it was the opinion of the Committee that we should proceed to take such business on hard lead as can be profitably taken under the operating conditions mentioned. There being no further business to come before the meeting, same was on motion duly made and seconded, adjourned. GLD007423