Document JNGOnBjX64Jbjv7ROpxEoXbQX

Min u t e s o f Me e t in g o f EXECUTIVE COMMITTEE h e l d We d n e s d a y , ________ Oc t o b e r 8, 1952, a t 11:00 o 'c l o c k A M.________________________ PRESENT: Me s s r s . Ma r t in o , Me r s o n , Re i d , Wa r s h o w a n d Wil d n e r (J. A. Ma r t in o , Ch a ir ma n ; J. B. He n r ic h , Se c r e t a r y ) ABSENT: Me s s r s . Bu r l e y a n d Dr e w e s Th e min u t e s o f t h e me e t in g o f Se p t e mb e r 24, 1952 w e r e OULY APPROVED. Up o n mo t io n , t h e f o l l o w in g a p p l ic a t io n s f o r a p p r o p r ia t io n s WERE DULY APPROVED: $ 29,000.00: I ,000.00: I ,000.00: I I ,474.25: 4,544.84: 2,553.38: 44,954.00: 62.10: I 3 I,000.00: 3,700.00: 10,172.61: 3,500.00: , . :1 001 14 Co n t r ib u t io n s Co n t r ib u t io n t o t h e Co mmu n it y Ch e s t (t o b e a l l o c a t e d b y t h e Tr e a s u r e r a mo n g v a r io u s b r a n c h e s a n d s u b s id i a r ie s o f t h e Co mp a n y ). Co n t r ib u t io n t o t h e Co mmit t e e f o r Ec o n o mic De v e l o p me n t . Co n t r ib u t io n t o s p e c ia l f u n d o f t h e Na t io n a l As s o c ia t io n o f Ma n u f a c t u r e r s f o r t h e p r o mo t io n a n d d i s t r ia u- TION OF BOOKLET ON VOCATIONAL GUIDANCE. Su b s c r ip t io n s t o Le a d In d u s t r ie s As s o c ia t io n f o r t h e p e r io d Oc t o b e r I t o De c e mb e r 31, 1952: Me mb e r s h ip , in c l u d in g s a f e t y a n d h y g ie n e $ 5,615.00 Re d Le a d Div is io n I,445.00 Me t a l l ic Le a d Pr o d u c t s Div is io n 4.214.25 Ba r o id Sa l e s Div is io n $ I I ,474.25 Re p l a c e me n t o f Un io n Emp l o y e e s Bu s , Eq u ip me n t No . 409, Ma g n e t Co v e Pl a n t , Ma l v e r n , Ar k a n s a s . Pu r c h a s e o f 1952 Do d g e Co r o n e t Se d a n , Ho u s t o n , Te x a s . Bu l k Ba r o id St o r a g e a n d Dis t r ib u t io n St a t io n , Ame s , Te x a s . Ge n e r a l Of f ic e ; Ou t -o f -Po c k e t Ex p e n s e s o f Su mme r s , O'Ha r a & Do r s e y f o r t h e mo n t h o f Se p t e mb e r , 1952, in c o n n e c t io n w it h OPS Ca s e . Na t io n a l Le a d Co mp a n y , S. A.: Imp r o v e me n t s o f Vil l a Nu e v a Fa r m, Ca s t a n o Min e Pr o j e c t , Sa n Ju a n , Ar g e n t in a . Ph il a d e l p h ia Br a n c h ; Re p a ir s t o Ro s s Wa t e r Gr in d in g Mi l l , Ph il a d e l p h ia , Pa . Th e Ch a s . Ta y l o r 's So n s Co mp a n y Ov e r e x p ., Re b u il d No . 3 Ki l n , Ke n t u c k y . Su r v e y o f Ta y l o r Pl a n t s b y Co n s u l t a n t , Ke n t u c k y a n d Oh io . Tit a n iu m Al l o y Ma n u f a c t u r in g Di v i s i o n ; Ov e r e x p ., Pu r c h a s e a n d In s t a l l a t io n o f Th r e e Pe b b l e Mi l l s , Nia g a r a Fa l l s , Ne w Yo r k . 0000-NLI-000021081 (EXECUTIVE COMMITTEE Oc t o b e r 8, 1952) Tit a n iu m Al l o y Ma n u f a c t u r in g Co ., Pt y . Limit e d b A 10,513.-- Pr o s p e c t in g f o r Ru t il e b e t w e e n No o s a Riv e r a n d In s k ip Po in t , Qu e e n s l a n d , Au s t r a l ia . bA I ,510___ Tr a n s f e r o f Eq u ip me n t a n d Er e c t io n o f Co n c e n t r a t in g Pl a n t , Wo o l g o o l g a , N.S.W., Au s t r a l ia . bA l , l 4-0 . -- Pu r c h a s e o f Tw o Wil f l e y Ta b l e s f o r Wo o l g o o l g a Pl a n t , Tw e e d He a d s , N.S.W., Au s t r a l ia . $ 9.821.00 Tit a n iu m Div is io n - St , Lo u is Pl a n t : Re p a ir s t o 1.778.00 Tit a n iu m Su l f a t e So l u t io n Ve n t in g Sy s t e m. Tit a n iu m Di v i s i o n - Sa y r e v il l e Pl a n t ; Ov e r e x p ., Re p a ir s t o No . 24 Ol iv e r Wa s h in g Fil t e r . Th e Co mmit t e e a u t h o r iz e d t h e p u r c h a s e o f $2,000,000 U. S. Tr e a s u r y Bil l s d u e De c e mb e r 18, 1952, r e p l a c in g l ik e p r in c ip a l a mo u n t o f U. S. Tr e a s u r y Bil l s ma t u r in g Oc t o b e r 9, 1952. Th e Co mmit t e e a p p r o v e d t h e e x c h a n g e o f $1,000,000 U. S. Tr e a s u r y Bil l s d u e De c e mb e r II, 1952 f o r a l ik e p r in c ip a l a mo u n t o f U. S. Tr e a s u r y Bil l s d u e De c e mb e r 4, 1952. Th e Co mmit t e e r a t if ie d a n d c o n f ir me d t h e p u r c h a s e o n Ma r c h 7, 1952, o f 66 s h a r e s o f t h e c o mmo n s t o c k o f Co mp a n ia Ga s Liq u id 5. A., f o r t h e s u m o f $17,049.78. Th e Co mmit t e e r a t if ie d a n d c o n f ir me d t h e p u r c h a s e o n Ma r c h 7, 1952, o f 440 s h a r e s o f t h e p r e f e r r e d s t o c k o f Co mp a n ia Ga s Liq u id o S. A., f o r t h e s u m o f $44,000.00, a n d t h e b o r r o w in g o f a l l o r p a r t OF SAID SUM OF $44,000.00 AT a n a p p r o p r ia t e r a t e o f in t e r e s t . Up o n mo t io n d u l y ma d e a n d s e c o n d e d , t h e f o l l o w in g r e s o l u t io n w a s u n a n imo u s l y a d o p t e d : RESOLVED, Th a t t h e p r o p e r o f f ic e r s o f t h is Co mp a n y b e a n d t h e y h e r e b y a r e a u t h o r iz e d a n d d ir e c t e d t o MAKE, EXECUTE AND DELIVER IN THE NAME OF AND UNDER THE SEAL o f t h is Co mp a n y t h a t c e r t a in "Op t io n f o r Pu r c h a s e o f Pa t e n t e d Pl a c e r Min in g Cl a ims " p r o v id in g f o r t h e g r a n t in g o f AN OPTION b y THIS COMPANY TO ARTHUR H. READ, ET AL. FOR THE p u r c h a s e , u p o n t h e t e r ms a n d c o n d it io n s t h e r e in s p e c if ie d o f t h o s e c e r t a in p a t e n t e d p l a c e r min in g c l a ims s it u a t e d in 0000-NLI-000021082 (EXECUTIVE COMMITTEE Oc t o b e r 8, 1952) To w n s h ip 57 No r t h o f Ra n g e 65 We s t , o f t h e 6t h Pr in c ip a l Me r id ia n , in t h e Co u n t y o f Cr o o k , St a t e o f Wy o min g a n d d e s c r ib e d in t h a t c e r t a in a g r e e me n t d a t e d Ap r il 16, 1951 BETWEEN THIS COMPANY AND SAID ARTHUR H. READ, ET AL. Up o n , mo t io n d u l y ma d e a n d s e c o n d e o , t h e f o l l o w in g r e s o l u t io n WAS UNANIMOUSLY ADOPTED: RESOLVED, Th a t t h e p r o p e r o f f ic e r s o f t h is Co mp a n y b e a n d t h e y h e r e b y a r e a u t h o r iz e d a n d d ir e c t e d t o MAKE, EXECUTE AND DELIVER IN THE NAME OF AND UNDER THE SEAL o f t h is Co mp a n y , a n a p p r o p r ia t e c o n v e y a n c e t o A. C. Sk in n e r OR HIS NOMINEES, OF a TRIANGULAR SEGMENT OF LAND, CONTAINING APPROXIMATELY 0.75 ACRE, LOCATED IN THE EXTREME SOUTHWEST CORNER OF THE SO-CALLED ANDERS TRACT OWNED BY THIS COMPANY in Du v a l Co u n t y , Fl o r id a , in e x c h a n g e f o r a c o n v e y a n c e f r o m s a id A. C. Sk in n e r t o t h is Co mp a n y o f a 100-f o o t w id e r ig h t o f -w a y , CONTAINING APPROXIMATELY 10 ACRES, LOCATED ACROSS THE NORTH BOUNDARY OF SECTION 12, T3S, R27E, DUVAL COUNTY, Fl o r id a , a l l a s s h o w n in t h e ma p s u b mit t e d t o t h is me e t in g . Up o n mo t io n d u l y ma d e a n d s e c o n d e d , t h e f o l l o w in g r e s o l u t io n s WERE UNANIMOUSLY ADOPTED I BE IT RESOLVED: 1. Th a t t h e CENTRAL NATIONAL BANK IN CHICAGO, b e , an d it h er eby is d es ig n at ed as a d e p o s it a r y in w h ic h FUNDS OF THIS CORPORATION MAY BE DEPOSITED BY ITS OFFICERS, AGENTS AND EMPLOYEES, AND THAT ANY OF SAID OFFICERS, AGENTS, OR EMPLOYEES OF THIS CORPORATION BE, AND EACH OF THEM HEREBY IS AUTHORIZED TO ENDORSE IN THE NAME OF THIS CORPORATION FOR DEPOSIT OR NEGOTIATION, ANY AND ALL CHECKS, DRAFTS, NOTES, BILLS OF EXCHANGE AND ORDERS FOR THE PAYMENT OF MONEY, EITHER BELONGING TO OR COMING INTO THE POSSESSION OF THIS CORPORA TION. En d o r s e me n t s f o r d e p o s it ma y b e w r it t e n o r s t a mp e d ENDORSEMENT OF THE CORPORATION WITHOUT DESIGNATION OF THE PERSON MAKING SUCH ENDORSEMENT. THE ACCOUNT HEREBY ESTABLISHED IS TO b e ENTITLED "NATIONAL LEAD COMPANY, CHICAGO BRANCH PAY ROLL ACCOUNT". 2. Th a t t h e s a id Ba n k b e , a n d it h e r e b y is AUTHORIZED TO PAY OUT FUNDS ON DEPOSIT WITH IT FROM TIME TO TIME TO THE CREDIT OF THIS CORPORATION WITH THE SAID BANK OUT OF THIS ACCOUNT OF THIS CORPORATION WITH THE SAID BANK, UPON CHECKS, DRAFTS AND INFORMAL OR LETTER E. G. Te h l e , L. L. ORDERS INCLUDING ORDERS OR DIRECTIONS IN FORM SIGNED BY P. J. PATER, A. R. MIL L AS,, Da r a y (a n y o n e o f t h e m), in c l u d in g t h o s e DRAWN TO THE INDIVIDUAL ORDER OF ANY SUCH.OFFICER ANo/oR OTHER PERSON SIGNING THE SAME ANo/oR TENDERED FOR DEPOSIT TO 0000-NLI-000021083 (EXECUTIVE COMMITTEE Oc t o b e r 8, 1952) THE INDIVIDUAL ACCOUNT OF ANY SUCH OFFICER OR OTHER PERSON, WITHOUT FURTHER INQUIRY OR REGARD TO THE AUTHORITY OF SAID OFFICERS AND/OR OTHER PERSONS OR THE USE OF THE SAID CHECKS, DRAFTS AND ORDERS OR THE PROCEEDS THEREOF. I w it h 3. Th a t t h e Tr e a s u r e r t h e Pr e s id e n t o r a Vic e Pr e s id e n t JOINTLY o r a n As s is t a n t Tr e a s u r e r o f t h is c o r p o r a t io n a r e h e r e b y a u t h o r iz e d f r o m t ime t o t ime o n b e h a l f o f t io n t o b o r r o w mo n e y f r o m s a id Ba n k in s u c h a mo u n t s , t h is c o r po r a f or such LENGTH OF TIME, AT SUCH RATES OF INTEREST, AND UPON SUCH OTHER TERMS AND CONDITIONS AS TO THEM OR ANY OF THEM MAY SEEM EXPEDIENT; AS EVIDENCE OF THE INDEBTEDNESS THEREBY CREATED, TO EXECUTE AND DELIVER IN THE NAME OF THIS CORPORATION, ITS PROMISSORY NOTES, WITH OR WITHOUT POWERS TO CONFESS JUDGMENT AGAINST THIS CORPORA TION, DRAFTS OR AGREEMENTS FOR THE REPAYMENT OF ANY SUMS SO BOR ROWED AND OTHER LIKE OBLIGATIONS? THEY AND EACH OF THEM ARE HEREBY AUTHORIZED TO DISCOUNT WITH THE SAID BANK ANY OF THE NOTES, BILLS RECEIVABLE OR ACCEPTANCES HELD BY THIS CORPORATION U.PON SUCH TERMS AS THEY OR ANY OF THEM MAY DEEM ADVISABLE, TO PLEDGE OR HY POTHECATE AS SECURITY TO SAID BANK ANY OF THE NOTES, BONOS, STOCKS, BILLS RECEIVABLE, WAREHOUSE RECEIPTS ANd /o R OTHER DOCUMENTS, AC COUNTS, SECURITIES AND/OR PROPERTY NOW OR HEREAFTER BELONGING TO THIS CORPORATION, ON SUCH TERMS, PROVISIONS AND CONDITIONS AS MAY BE DEEMED PROPER BY SAID PERSONS OR ANY OF THEM, WITH FULL POWER AND AUTHORITY IN EACH INSTANCE TO EXECUTE AND OELIVER ANY AND ALL ENDORSEMENTS OR INSTRUMENTS OF ASSIGNMENT OR TRANSFER AS MAY BE NECESSARY OR PROPER IN EACH CASE EFFECTUALLY TO TRANSFER TO s a id Ba n k t i t l e a n d p o s s e s s io n t o t h e p r o p e r t y a n d /o r s e c u r it ie s s o PLEDGED, HYPOTHECATED, DISCOUNTED OR DELIVERED. 4. Th a t t h e Pr e s id e n t o r a Vic e Pr e s id e n t JOINTLY w it h t h e Tr e a s u r e r o r a n As s is t a n t Tr e a s u r e r o f t h is c o r p o r a t io n BE, a n d e a c h o f t h e m is h e r e b y a u t h o r iz e d f r o m t ime t o t ime , f o r AND ON BEHALF OF THIS CORPORATION, EITHER IN HIS RESPECTIVE OFFI CIAL OR INDIVIDUAL CAPACITY, TO WITHDRAW, RECEIPT FOR AND DELIVER TRUST RECEIPTS FOR, SAVINGS DEPOSITS, SECURITIES, OR OTHER PROPERTY OF ANY KINO WHATSOEVER, PURCHASED FROM, LEFT W I TH , OR HELD BY THE SAID BANK FOR SAFEKEEPING OR AS COLLATERAL SECURITY OR FOR DELIVERY AND/OR COLLECTION. 5. Th a t t h e s a id Ba n k , a s s u c h d e p o s it a r y , s h a l l b e ENTITLED TO RELY UPON THE TERMS OF THESE RESOLUTIONS AS VESTING IN THE DESIGNATED OFFICERS OF THE CORPORATION COMPLETE AUTHORITY TO ACT ON ITS BEHALF IN THE MANNER AND TO THE EXTENT HEREIN SET FORTH, AND SHALL BE UNDER NO OBLIGATION TO MAKE FURTHER INQUIRY WITH RESPECT THERETO, AND SHALL ASSUME NO RESPONSIBILITY OR LIABILITY FOR THE APPLICATION OF ANY OF THE FUNDS DEPOSITED WITH IT OR BORROWED FROM IT PURSUANT TO THE PROVISIONS OF THESE RESO LUTIONS. 0000-NLI-000021084 (EXECUTIVE COMMITTEE Oc t o b e r 8, 1952) 6. Th a t t h e Se c r e t a r y o f t h is c o r p o r a t io n is d i r e c t e d TO FILE WITH THE SAID BANK A COPY OF THESE RESOLUTIONS DULY CERTIFIED UNDER THE SEAL OF THIS CORPORATION, TOGETHER WITH A LIST OF THE OFFICERS ANd /o R AGENTS OF THE CORPORATION EMPOWERED -TO- ACT- HEREUNDER, AND THAT THE SAID BANK SHALL BE ENTITLED AS AGAINST THIS CORPORATION, TO PRESUME CONCLUSIVELY THAT T-HE AUTHORITY OF THE PERSONS SO CERTIFIED TO ACT ON BE HALF OF THIS CORPORATION CONTINUES UNTIL EXPRESSLY NOTIFIED IN WRITING TO THE CONTRARY, BY APPROPRIATE RESOLUTIONS OF THIS CORPORATION. 7. Th a t t h e s a id Ba n k s h a l l b e e n t it l e d t o p r e s u me CONCLUSIVELY THAT EACH OF THE FOREGOING RESOLUTIONS CONTINUES IN FULL FORCE AND EFFECT UNTIL EXPRESS WRITTEN NOTICE OF ITS RESCISSION OR MOD IF IC I AT I ON, ACCOMPANIED BY A COPY OF THE PROPER RESOLUTION EFFECTING SUCH MODIFICATION OR RESCISSION DULY CERTIFIED BY THE SECRETARY OF THE CORPORATION OVER ITS "SEAL, SHALL HAVE BEEN DELIVERED TO IT AT ITS OFFICE IN THE Cit y o f Ch ic a g o , Il l i n o i s , a n d s h a l l b e in d e mn if ie d a n d s a v e d HARMLESS FROM ANY LOSS SUFFERED OR LIABILITY INCURREO BY IT IN RELIANCE ON THE AUTHORITY DELEGATED BY THE TERMS OF SAID RESO LUTIONS PRIOR TO RECEIPT OF SUCH NOTICE OF RESCISSION OR MODI FICATION. 8. Th a t t h e s e r e s o l u t io n s s h a l l s u p e r s e d e a n y a n d ALL PREVIOUS RESOLUTIONS OF SIMILAR IMPORT. Up o n mo t io n d u l y ma d e a n d s e c o n d e d , t h e f o l l o w in g r e s o l u t io n WAS UNANIMOUSLY ADOPTED! RESOLVED: Th a t t h e Ce n t r a l Na t io n a l Ba n k in Ch ic a g o a s a d e s ig n a t e d d e p o s it a r y o f t h is c o r p o r a t io n b e AND IT IS HEREBY REQUESTED, AUTHORIZED AND DIRECTED TO HONOR CHECKS, DRAFTS, OR OTHER ORDERS FOR THE PAYMENT OF MONEY DRAWN IN THIS CORPORATION'S NAME, AGAINST THE ACCOUNT ENTITLED "NATIONAL LEAD COMPANY, CHICAGO BRANCH PAYROLL ACCOUNT", in c l u d in g THOSE DRAWN TO THE INDIVIDUAL ORDER OF ANY PERSON OR PERSONS WHOSE NAME OR NAMES APPEAR THEREON AS SIGNER OR SIGNERS THEREOF, WHEN BEARING OR PURPORTING TO BEAR THE FACSIMILE SIG NATURE OF THE f o l l o w in g ; P. J. Pa t e r a n d t h e Ce n t r a l Na t io n a l Ba n k in Ch ic a g o s h a l l b e e n t it l e d t o HONOR AND TO CHARGE THIS CORPORATION FOR ALL CHECKS, DRAFTS, OR OTHER ORDERS, REGARDLESS OF BY WHOM OR BY WHAT MEANS THE 0000-NLI-000021085 ^ L. (EXECUTIVE COMMITTEE - Oc t o b e r 8, 1952} FACSIMILE SIGNATURE OR SIGNATURES THEREON MAY HAVE BEEN AFFIXED THERETO, IF SUCH FACSIMILE SIGNATURE OR SIGNATURES RESEMBLE THE FACSIMILE SPECIMENS DULY CERTIFIED To/oR FILED w it h t h e Ce n t r a l Na t io n a l Ba n k in Ch ic a g o b y t h e Se c r e t a r y o r OTHER OFFICER OF THIS CORPORATION. Up o n mo t io n , t h e me e t in g t h e n a d j o u r n e d . * 0000-NLI-000021086 t