Document K6nvpo8YdGmx41p5L5pmXgXaN

Philadelphia, Pa. duly 18, lf8l. it a regular Mating of the Dlrootora of John T. Lewie h Brea. Co. held thia dej in their effieee in the Wideaer Building, there were presentt J. V. Gardiner, President 8. Preach Reeves, flee President i. M. Vilaen, flee President Kerris 8. Merritt, Seerstarp The meeting mas sailed te erder by Mr. d. W. Gardiner, who presided In the absence ef Mr. Edward P. Beale, and Mr. Merrie B. Merritt reported the minutes ef the nesting. The minutes ef ear meeting ef duly 7 were read end approved. Mr. Reeves reported that he had received approval ef our CiR applica tion in the amount of $850.00 to sever a two-ton eleetrle hoist in our metal department and also approval of our OhR application for an appropria tion ef :$9388.0 to cover a now white-lead filter drum, filter tank, pump, etc. Mr. Reeves reported the following sooperative figures for the first six months of 1980 and 191 without including any Vow York overhead s \ ism 1981 - Profit $18,980.58 19*10 Profit 8,887.51 19*1 - Profit $190,881.87 1980 - Profit 55,950.78 1981 Sales (tons) 1980 Sales (tens) 1981 Sales (Talus) 1980 Sales (Talus) 18,317 11,150 $3,580,008.00 8,051,395.00 N 27123 la view of the possibility that second-hand drum for linseed oil may get very scares, Mr. Merritt was authorised to arrange with the Glebe Steel Drum Company whenever it scene neeeeeary, for the purchase ef 3,000 drums at $1.50 each with the understanding that we will issue our chock la sdvcace ac needed by the Glebe Steel Drum Company eo that they ean accumulate these drums. Then the balance cf 50# per drum for cleaning and painting will be paid when the drone are actually delivered te our plant. They will Irene a regular bill ef cale te us for these drums and will render a regular monthly account of the quantity of drama that they keep on hand for ua, which else will be subject te cur inspection at any time. Moreover, these drama will be fully insured. This was ths method suggested by the South Philadelphia Rational Bank, with whom the Globa Stool Drum Co. carry their bank aceoant. Tbe regular weekly report ef shipment# for the week ending duly 11 was submitted.