Document Jr0OEaKzdyO0YGxeXkb0X9gpa

cur cl ^ecl end, Ohio c at * .Titrm 19; 1957 f o r All Directors s ubj ec t letters on Which Director* en^/or Executive Omslttee Action Fh Been Taken and on Which Other Action 1* Bending ANSWERINO LETTER OF Faint Division 1 * flacloral &e PlnturuH, P. A. {10} Renegotiation of our basic end ''Panestle" c>nTmrT vlt'h jrcVr 1 on Yi cwcTfloc:Vr. Bodrijrwcr' acceptance of tha prera^ulsitea to wwwvVwmt of these ccntn^tn eatabiiabed by the Executive fhxwlttee on Mr\y J?7 ?. Contract vita. V, h. grace ft Co. rufrsldlsjy in Ecuador (10) - V* hnv# accepted Articles wnA fey-Lav* prapartiS. end ^y Gfrsc* f'or this subsidiary. Shares Issued OICA will bs delivered by the subsidiary to Mr. Fhl.1.1ip*. 3- Contract with u, p. Orece & Co* EMbsiaisry In Colcabla, (10) - Wo hart accepted ArlTeles and fry-Lcv# prepfieiT and /(led ^y'5rnno'"Jror"THt rubai diary. Pharos <Boed OTCA will bn delivered by tho subsidiary to Mr. Fhllllps. it. AacnJgent of Rlpolln Agmacat (10) - Our Bcptenber J*>, 1951 Agraswant> vlth Fipolin (^"Wrla j license tlfin"Tinnufr>ctura of wntcr-thlnned cwulslon paints in franca end Algeria and induatri.nl end nelntenance finishes in Prance, Algeria* Great Fritnln and Belgium. About, r year ago RJpoltn proposed emending these Agneotsents rn<i certain revinlons vara fMecueeed with the Paint Division. A draft of an emended contract, which would Include printing Rlpolin tha right to manufacture industrial and maintenance finishes in Trol ion! end additional technical provisions It requested, tmt forwarded to piped in for areproval. Flpolin haa informed us that tha amended contract is being reviewed by it* attorneys. S FFE's Corprina Rebnbllitnt.Utfi of Cleveland Float (P) - ITP's covering reconstruction and rebel; 1 VTtation oTTRa <?i .velan*Vp5.an heve, to data, been approved in th* total crvnint of $1,75?>*10. iro.lcrt approval for additional item* totalling $?6Q,000 he* been granted. 6. Rais of fransrillt Branch (;>) - It Is anticipated that this sals, as authorised by on MarcVl?, will be concluded within y> day. 7. Acquisition of Additional Property at flow Orleans riant (1) - Tha owner of the two snail tract* 0/lend adjoinl'nr ttn MjntJiivision's flex Orleans plant has offered to *e.\l the property to tha remreuy for $52,500. further negotiation* sr# in progress to obtain this property at n price of $35>O00 ns authorised by the Eneeutive Comal ttee cm April P$. 8* Qllflflen Panama. B. A. (1) * Articles of Incorporation of this subsidiary of OICA Iviv# Traen filed In rsrwen. Inocrj'ctatlon should be completed within the next 30 days. 9* Purchase of Minnesota Hialnf,1, 8- iVutufaduring CoOT\ny froperty - A contract covering the purchase of the Wt-H pn pait.y JocnPeijf ot Vl.woo'll Arrnme, Cleveland, Ohio, es rmtborired by the Director* on ie>y 17, hnn been executed. It Is anticipated that v* will tnke title to the property by July 3. GLD009850 N 2227 All Directors -P- JUne 19, 1957 10. Fucrto Mean Branch - k contract covering purchase of assets of Import Trading Company 'oT Hsnturee, Puerto Nico, os Authorise by the Executive Committee on June 11, he* been execute* by Import Trading Company and GICA. The business assets of that company will be acquired on June 0. ChaPlcals-Plfynente-Metelw DivlsJon .1. Agreement with Industries QulnJcas Basics* fle Mexico 3 F. (2) - The Technic*! Pervio* Agreement between aiCA an rf fniuetrla a TallinLena Besices de Mexico ft. F. ha* not yet been approved by Naciona! Financier*. ?. Curibcrlp.nd Island (1) - Americrn Exploration l Mining Co. hat submitted a bid to the Ifnistee to purchase outright over IP,000 acres of the Island for $9>700#000* The purchone price would be paid over n period of PO years, vlth cash payments totalling $1,000, (XX) being mde prior end upon transfer of the property. Of the regaining installments, $1,500,000 venl* be guaranteed by the Canadian Bank of Costnere of Seattle, Washington. The gum-erne Court of rieorgip, during the week of July 8, will hear arguments on Mesdreies Rockefeller's and Rice's pills of Exceptions to Judge Thoms' rulings on demurrers filed at the WooiMne bearings on April 9* lt rulings will probably be determinative of tbe valid!t" of cur CvHberland Island Leaas Agreement, the bearing on Mr. Carter Carnegie's motion for reconsideration end modification of Judge Thoms' rulings has been postponed until .Tuns ?5. The Trustee's Motion for dlwsissal of Mrs. Rockefeller's Federal Court action will be heard Jims 3 Proposed Bale of Scranton. Pennsylvania Plant - Mr. Bnrocas, the prospective buyer of the gcranion plant, did not accept the puroha.ee offer extended by the Company, and negotiation* for the as l a of the plant to other parties are pending. Food Division1 1. Transfer of Qondlaent and Coconut Operations to Bsthlehan - Transfer of condiment and coconut operations 'frex* 1dmhirat to bethlehcm, as approved by the Directors on April 19, is awaiting completion of authorised alterations to the new plant. Estimated, completion date is September 1. ? Fropoced Sale of iron street and fforwalk Hants * lib offers of purchase for either I'm Iron Btreet or honra7.lt ptants' Twim Wen received as a result of the listing of tbs go plants with real estate agents as approved by the Executive Ccsmittee on April 1. PDH/bJs R. D. Homer (The figure in parentheses is mrRer of consecutive months item has been pending.) GlD009851