Document KRLpqKpGJXGy8MnvO5wb1aEZ6

January 19, 1948 Poliowing the Annua1 Hooting of Stockholders the newly oloctod direstore hold a sooting and thooo present ware* Leonard f* Boalo J. v* Gardiner, Jr* J# A# Martino Harris 8* Herritt 3* Prsnsk leaves d* 4. Watta A. Merten Wilson Tha sooting waa oallod to ardor top Hr* J. A* Hartino who aotod aa Qhairsan of tha sooting and Hr. Harris 8* Harritt reported the sinstoa* Upon notion duly sado and oooosdod it waa dooidod to dieponoo with tho reading of tho ainatee of osr sooting of Jaatarp 12, 1948* Upon notion made and aoeondod tho following offloors wore nesinatod to serve during tho esosiag poors J* W* Gardiner, Jr., president 3. p. leaves, ties Proaidont osd froaoaror A* II# Wilson, fioo Prosidost Harris 8* Hsrritt, Secretary 8# S# Rholl, Assistant Treasurer Hr# leaves snbnittod tho following oonsomtlvo figures for tho nonth of December 1946 and 1947 and for tho twelve souths of 1946 sad 1947# In ths osss of tho figures for 1946 the norasl steak spates hso boon eliminated for Hovamber end December* December 1946 * Profit 191,986*06 12 soothe 1946 - Profit 8147,000*81 Doeasber 1947 - profit 818,219*46 12 sentha 1947 - Profit 8902,208*13 Hr# leaves aloe reported that 121 employees participated is tho profit sharing plan* fksir aalarlaa amounted to 8426,000*00 or an avarago salary of 83,600#00 per parson. On notion duly sado and aoeondod it woo unanimously dooidod that appli* oatIon should ho soda for authorisation to pop tho Spiosopal Hospital $1.00 per employee during tha year 1948 or in tho neighborhood of 8480*00* Hr* loaves reported that oar now labor eontraat had boon approved running up to January 15, 1949# Xt was decided that it night be wall to look into the sale abroad of our hpdraulio linseed oil prosees and other affiliated equipment# Hr* Gardiner snbnittod tho attached report of devalepnente at this branch during tha your 1947* Thera being no further businaaa, upon motion tha nesting adjourned*