Document LgmVw39MMM16KemvQ6YBKOdLz

Minutes of Meeting of EXECUTITB G0MMITT3E held Friday, M~?.c.h 2, 1951 > at -------------------- 1 I?! n=riiro, Purify, Irc^e".. lfcvari?'. He id, Simon, Warshow and VTiidner (<j # A(i Iiarimo , Chairman: *>. B* HcnriC-t., secretary) UpO'n motion, the ibllowfng applications for appropriations were duly approved: % Contributions $ 20,000.00: 0ontri"bution to the Red Gross (to be allocated "by the Treasurer among various "branches and subsidiaries of 3,540.00: the Company). Fellowship at Lehigh University for Sifty Products Re- search cud Development for one year heginning March 1, 1951. 8,856.00: Ea.roid Sales Division: Purchase of Membership in River Ce'-T Count'jy Club, Houston, Texas for Mr. G. B. Coale. 1,839.71: 01a. Miners, y R^finadora: Ford 3/4-Ton Pickup Truck, Bernal, Mexico. 1,298.28: Cesicral Office: Cash Advanced hy Broheck, Phleger & Harrison for Rational Lead Company Account in con nection with Wolfe, et al. v. Rational Lead Company* et al, (Treble Damage Action) from Dec. 11, 1950 to Peb. 7, 1951. 5,500.00: Titanium Alloy Manufacturing Division: Services rendered by Osborne, Copp & Markham in connection with the Com pany's Florida business, including zoning, highway, taxes and the like. Titanium Division - MacIntyre .Develpument 2,424.40: 5,012*76: 24,480.00: Repairs to Mo. 21 Conveyor. Repairs to Conveyors Ro. 22 and Ro. 23. Replacement of Mine Tractors. The Committee confirmed the purchase on March 1, 1951 of $4,000,000 IT. S Treasury Bills due ninety days thereafter, the same purehasedfrom part of the pro ceeds of $8,750,000 U. S* Treasury Bills, maturing on March 1, 1951* In accordance with the letter of March 2, 1951 from Mr. Charles Simon, Treasurer, to Mr, J. A, Martino, President, the Committee authorized the deposit of $500,000 U. S. Government Bonds 2-l/4$, due 12/15/59-62, and $250,000 U. S. Government Bonds 2~l/2$ due 12/15/67-72, with the lew York Agency of The Royal Bank of Canada, in order to reduce the rate of interest from 4~l/2$ per annum to 3-1/2$ per asn.ua on the overdrafts of The Canada Metal Company Upon motion, the meeting then adjourned. itP| 0000-NLI-000039119 1