Document Jr5EekVawe4Vn8MpLR2qz3LYr

1683 M3BU3SS OF MEETIHG OF TEE EXECUTIVE CCMMimE OF THE GL33S3EH COMPAHf' Minutes of ejecting of the Executive Cossolttee of The Gliddoa Company held at tho office of the Company, 900 tfclon Commerce Building, devdead, Ohio, on Wednesday, July 5, 196L, at 10:00 A.H. The following msribero of the Conmittee vere present: Bright P. Joyce B. V* Maxey Willard c. lighter Robert D. Hoaxer Earvey L. Slaughter Mr. Alexander D. Duncan did not attend the meeting. Messrs. H. W. Cooper, R. I*. Lechner end James Bom of the Ccaqpony'e advertising agency, Maldrum & Fewsnith, Inc., attended the seating at the Invitation of the Chairman. Also present at the meeting vere the following Paint Division personnel: Messrs. P. V. tfeidhar&t. Vice President; Willard P. Stot2olborger, Director of Branches; W. D. Kinoell, Jr., Eational Trade Bales Manager; T. E. Turney, Advertising Manager; and R. B. Woodward, Sales Promotion. Manager. Mr. Joyce, Chairman, presided and Mr. Beasier. Secretary, recorded the minutes. Messrs. Hoidbardt, Cooper and Lecbner described the Point 017101011*8 Rational Trade Soles advertising plans for the Coeqpaoy's 19& fiscal year, following which the Committee, on motion made and seconded, unanimously approved the following advertising Budget: Gl-D009in 7/5/fil 1686 1961 BUDGET Trade Soles National Other National Local Canada (National) General Rainfc (National) $1,491,993 204,500 1,885,000 190,000 115 a000 $3,966,^50 1961 ESTIMATED EXTEJSE $1,275,805 249.000 1,830,583 175.000 90.000 $3,620,393 1962 BUDGET $1,390,276 420,500 1,930,000 200,000 ____2&gg? $4,035,776 The foregoing budget was approved with the understanding that the espen&iturea authorised could "be reduced at the discretion of Division manage ment toy elimination of certain planned advertising as might from time to time appear desirable, and with the further \mderstending that if Division management deemed it advisable for any one of a nuniber of reasons to increase advertising e^enditures, particularly those Involving local newspaper advertising, Ur* Neidhar&t would request authorisation to mahs such additional ea&endltures os were deemed desirable, in Which event the Coxsnittee would be receptive to such request* There being no further business to come before the Committee, the meeting was adjoureed at 11:4o A.M* GLD009142 7/5/61