Document M4Jyng3RBz4JK57XLBxzQ534j

Cleveland* Ohio January 82, i960 MATTERS Off WHICH DIRECTORS AHD/q R EXECUTIVE OOMMITOEE ACTIOS HAS HEEff TAKER AHD Off WHICH OTHER ACTIOH IS FEKDI1W To* All Directors PAXHZ ELViaiOtt 1* Baflnlln & Hblirfhlad, Ltd. (Denmark) (18) -- Further negotiations with respect to the TeehooiogicaT Service and Trademark Agreements approved by our Directors July 89, 1953, are still awaiting Mr. Khud Christensen's visit to this country. cimi(M~irL(2mis-mm Division 1* Scranton Plant (19) -- As authorised by our Executive Conmittee Sept. 14, 1959, the Scranton real estate, machinery and equipment were sold at public auction co December 15. The sale grossed $51*391 - eonprised of $35*000 for the real estate and $lo,391 for the machinery ana equipment. 2. Travancore Minerals Limited (India) (3) -- We have not yet received executed copies of the five-year ilmenlte requirements contract approved by our Directors May 86, 1959* Travancore's delay in signing this contract does not, however, prejudice arrangements already made by our C-F-M Division to procure ilmenlte from Travanoore* FOOD DIVISION 1. fforwalk Plant (31) -- There has been no activity regarding the proposed sale of this property, as authorised by the Executive Committee February 18, 1959, at either its appraised value of $181,850 or at any price. We are now renting 10,480 square feet of the plant on a short-term basis at a monthly rental of $337* 2. Proposed Acquisition of Property in Louisville (XT) -- negotiations for acquisitloa of additional land in Louisville for expansion of the Food Division's vegetable oil refinery, as authorized by the Executive Conmittee October 13, 1959, are progressing as expected. feet of land adjacent to our Elston Avenue plant will be initiated by Mr. Dutton early next week. If successful, a proposal for the purchase of this property will be prepared for submission by Mr. Slaughter to the Directors. GL Do 10 091 Fending Hitters -2- January 22, i960 h. Red V Coconut Products (7) -- The proposed agreement covering arrangements considered by cur Directors on June 23, 1959, uhereby Durkee vill purchase a portion of its annual requirements of flake and other coconut cuts from General Foods, is being evaluated by our Food Division and our Legal Department is concurrently preparing a counter-proposal for etbmisslon to Oeneral Foods- If a sutually satisfactory agreement can be negotiated, It vill be submitted to Bed V, vho have previously indicated their receptiveness to the type of arrange ment Mr- Slaughter has In mind, prior to submission to the Directors for final approval- HDHsMcG Rt D itlKKR (The figure in parentheses is nuriber of consecutive months item has been pending) GLD010092