Document KGwOyMnjR1Bbr6epqjQ2ze2a0

June 7, 197L Twin Bridges Marriott, Arlington, Virginia In Attendance AMATZX CORPORATION J. L. Rainey M. J. Scanlan OARLOCK INC. ?. S. Kanke A. Kuzauk NICCLET INDUSTRIES, INC. G. G. Gabrislson, Jr. RAYEESTOS-MANHATTAN, INC. W. A. Guenther M. Q. Scowcroft SOUTHERN ASBESTOS CO.'tPANT E. C. Bratc UNIROYAL, INC. L. D. Lenihan (Arthur, Qj-y & tCaiiSTi) E. A. Morris ASBESTOS CORPORATION LTD. ?. E. Leclerc CANADIAN JOHNS-MANVILLE CO. III. N. W. Hendry (J-M) R. B. Von Wald (J-M) CAS5IAR ASBESTOS CORPORATION LTD. D. B. McDermott LAKE ASBESTOS OF QUEBEC LTD. E. A. Farrell C. E. StieYken (Asarco) NIPPON ASBESTOS CO. LTD. X. Mori Y. Sato T3A INDUSTRIAL PRODUCTS LTD. H. J. Corson HULL, TOWTLL, NORMAN, BARRETT 4 JOHNSON W. B. Alcorn, Jr. (ATI Attorney) ASBESTOS TEXTILE INSTITUTE D. M. Fagan, Executive Secretary Total attendance during the two-day 197L Spring Meeting was 21 people including 19 members, 3 wives, 1 staff member and 1 Legal Counsel representing 12 companies, plus 2 representatives of the ATI. ^ MINUTES -. ihe Spring 1971 General Meeting of the Asbestos Textile Ir.st was called to order at 9:00 aJune 7, 1971, by President M. ccowcroft, of Raybestos-Manhattan, Inc. `mere .A1Q01-9W3 Vn002135 s yj C ,, C 4 4 0 2 i 2. President Scowcroft officially welcomed the small but select group in attendance. He stated that the. reason for the lesser amount of attendees va:s, of course, that the subject of the meeting was the Texas Litigation and that none of the usual committee activities hed been scheduled. He then requested that each in attendance rise and give his name and business affiliation. The list is as per page 1 of these Minutes. * 2. Upon calling for the reading of the Minutes of the last stated meeting, it was moved by E. A. Morris, seconded by G. G. Gabrieison, Jr., and so carried, to dispense with the reading of said minutes. l. The President called for the i 3 .M. ursr .-iorrts gave the report, briefly as follows and in detail as per the attached 'Report of Funds as of May 15, 1974. Total on Hand as*of September 1, 19'7} (the beginning of the current Fiscal Tear) was $16,113*. 56; re ceipts from book sales, dues, etc., were $15,279.98; disbursements amounted to 321,023.58 (the bulk of which were for litigation costs and attorneys' fees); and the Balance on Hand as of May 15, 1971., amounted to 310,369.96. This figure should further be reduced by some 32CG0.C0 for an unanticipated litigation expense which means as of today the net worth of the organization is approximately " 33C00.C0. It was moved by C. E. Stiefken, seconded by A. Xuzmuic, and so carried, to accept the Financial Report as presented. The ' retort will be filed for audit. 2- It was reported by President Scowcroft that the 1974 Annual Meet ing of the Institute will be held, as scheduled, at The Cloister, Sea Island, Georgia, Wednesday through Friday, September 25-27, 19'T4. The meeting will include regular committee meetings and report and a Fibre Producers' Report. He further advised the Executive Secre tary will mail the.meeting notices to the general membership earlier than usual since The Cloister has recently established the policy c: requiring a $75.00 advance deposit for each room by mid-August. Q-- 5. The following matters concerning membership were announced by the "^resident. Johns-Manville Corporation'has changed its status in the ATI in that it has dropped its Class A/Regular Member classification, but the membership has been picked up by Canadian Johns-Manvilie Co. Lt C.J-M is now the ATI member company as a Class C/Associate, which-4, the category for miners of asbe'stos spinning fibers. The President expressed it was his pleasure, on behalf of ohe Institute, to welcome Asahi Asbestos Co. Ltd., Tokyo, Japan, as a new Class D/Associate Member. t x. 2- C. E. Stiefken informed the President that the Chrysotile As'cesManual, 3rd edition, should be available in about six months' time. President Scowcroft said that further information wtll be at hand at the 1974 Annual Meeting on Sea Island. MX n a004403 /V 002136 -age > -- ~Z General Meeting -- 6/7/74. 3. I* was announced by the President, that the Bpgr'd-of Governors had' voted to fora an.ad hoc committee. It will operate within the pre sent structure of the Institute and its ''function, and sole purees e* " will be to provide a forum composed-of,,**.eprAftatgives'of bdtfj 4egu-" lar and Associate Members, including. the ainer^j- to" qonsider litjigrtion matters and to make recomrthd^iions to. the 361rd of "Governors ' concerning the defense of the pending litigation.'- '-This frill give the 3oard the benefit of the thinking of the Institute's total mem bership. The President emphasized that sach representatives who sit on the ad hoc committee will have an equal vote' on that committee meeting. - . President Scowcroft advised-he had appointed R B.* Von Wald, c: Johns-Man-villa Corporation, as'Chairman of the ad'hoc committee,, with 2. C. 3rattj of Southern Asbestos Company,**as Vice-Chairman, then named the following member companies as having expressed thg desire . to have representation on'the ad hoc committed: Amatex Corporation, Asbestos Corporation Ltd., Bell Asbestos Mines Ltd., Cassiar Asbestos Corporation Ltd., Lake Asbestos of Quebec Ltd-.<- Nicolet Industries,. Inc., Nippon Asbestos Co. Ltd., Oarlock Inc., Raybestos-Mankarcsan^ . Inc., Southern Asbesto-s Company, T3A Industrial Products Ltd. and Uniroyal, Inc.. He requested that each of these companies_designat'e its representative to sit on the ad hoc committee'and that other . member companies who are interested in being represented*on the ad- hoc committee should so advise Mr. Von*Wald, himself or the ATI Executive Secretary. - * As Chairman of the ad hoc committee, Mr. Von Wald said that the committee is designed as a means ,by .which Associate Members can obtain information about the Texas Litigation and can provide input into the Board of Governors of any thoughts concerningwthe defense and posture of the case and actions they think may be necessary with respect to the litigation. The committee is designed strictly for the litigation and not for any. other'purpose. He hopes initial ly to make contact with everyone who is interested--or they may . write him at Johns-Manvilie Corporation, Greenwood Plaza, Denver, Colorado S0217. He s*id the litigation Is important to each company, ever, though it may not have individual exposure, and that it is a ' critical litigation for Industry in general, as well as for the asbestos industry in particular. * Following an inquiry from the floor, Mr. Von Wald concurred that the lawyers active on the ad hoc committee would represent ATI' mem ber companies and would consider positions that ATI should taker In answer to another question, Mr. Von Wald.stated it is not the ' intent of the ad hoc committee to supervise the litigation. The 1-- tigation is supervised by the ATI Board 'of'-.GortfrnoPs: The ad hoc ^ committee is designed as a medium through which :the Associate-Members- ... can have a voice in what goes on and can ,^et specific information about the litigation. Under the present structure of the ATI* -he primary responsibility for the Institute lieswith the Bqard of ' Governors only. c~e aq-wv 10/93 002137 VTJ *304401 Page L ATI General ing 5 n 'll 9. President Scowcroft confirmed the information that previously had been sent to the general membership in that ATI has redesignated its legal counsel from Cadwalader, Wickersham k Taft to Hull, Towill Moraan, Barrett and Johnson, or more specifically, to Wendel 3. Alcorn, Jr. This change was made with the unreserved blessing of Cadwalader, the primary reason being that Cadwalader had recommended Wendell Alcorn as Trial Counsel for the Texas Litigation and that as that litigation proceeded it became clear both to ATI and to Cadwal ader that the substantial function of ATI's counsel, at least for the short term, would be to defend these cases. It became obvious that the most efficient and economical method of conducting the defense was through the retention of one law firs to act both as Trial Counsel and as General Counsel. On behalf of the ATI, President Scowcroft expressed delight ir. having Wendell Alcorn again working with us. 1C. President Scowcroft reiterated that the 197L Annual *Meeting of the Institute will be held as scheduled. It is the intent of the Board of Governors to keep the Institute going but it must marshall its resources in order to be able to afford the cost of the litiga tion. 11. The President then turned the meeting over to Trial Counsel for a briefing on the progress of the cases pending in Tyler, Texas. His remarks are recorded in a "Memorandum of Attorney-Client Confer ence, June 7, 197L" and which is available for inspection by members of ATI at the Office of the Executive Secretary. 12. There being no further business to be brought before the member ship, a move for adjournment was made by A. Kuzmuk, seconded by C. E. Stiefken, and so carried. The meeting was adjourned at 11:30 a.m. Respectfully submitted. Doris M. Fagan Executive Secretary AQ-WV 10/93 002138 \ ASBESTOS TEXTILE INSTITUTE Fiscal Year ending Augusz 31, 1?"-; Report of Funds Period: September 1, 1973, thru May 15, 1974 0004406 Balance on Hand September 1, General Fund Reserve Fund Petty Cash Fund 1973 -- Total on Hand at 9/1/73 Receipts General Fund - Dues for Year 1973 Book Sales Magnetite Samples $ 2,633.68 13,346.91 87.97 $ 125.00 86.71 25.00 Reserve Fund - Dues fcr Year 1974 Interest to 12/31/73 ' Total Receipts ........................ 14,250.00 > rj a / Disbursements Legal Retainer & Expenses (to 3/31/74) Secretary's Gross Wages Taxes on Wages Paid by ATI ATI Meeting Expense (10/73 & 2/74) Secretary's Meeting/Travel Expense Telephone (8/73-4/74) Printing Supplies/Services Postage Office Supplies Miscellaneous Revision of Test Manual (J.L.Tucker) Rental of Office Space Accountant (Caruso - F/Y 72-73) ASTM Dues for Year 1974 Gifts/Flowers/Plaques, etc. Insurance Litigation: Office Expenses Sec'y Travel Expenses (4/74) ATI Meeting Expenses (4/74) Legal Services (1st Qtr 74) N $ 4,805.98 1,448.00 123.16 1,444.85 469.05 471.76 406.81 394.84 138.09 96.99 405.00 300.00 2S.00 63.34 125.00 189.05 149.39 7.18 9,965.09 Total Disbursements . . . BALANCE OM HAND MAY 15, 1974 .... Funds as of May IS, 1974 -- General Fund Reserve Fund Petty Cash Fund $ 1,473.55 8,890.18 6.23 TOTAL AVAILABLE FUNDS MAY 15, 1974 . Assets as of May 15, 1974 -- Total runds, as listed above Accounts P.eceivable - Rook Sales Magnetite Samples 1974 Dues Furniture Equipment (Nominal Value) S 10,369.96 6.46 5.00 375.00 1.00 AQ-WV 10/93 002139 TOTAL ASSETS ......................... TOTAL LIABILITIES . . . * TOTAL NET WORTH MAY 15, 1974 . . $ 16,118.56 * 15,279.99 $ 31,393.5; - 21,028.58 S 10,369.96 $ 10,369.96 S 10,757.42 S 10,757.42