Document MoMey3BgrxnX3wvaEe8QD4YEk

MINUTES OF MEETING OF EXECUTIVE COMMITTEE HELD MONDAY, _APRIL 14, 1969, at 10:30 o'clock A.M. PRESENT: Messrs. Rowley, Henrich, Johnston, Merrell, and Orling (E. R. Rowley, Chairman; T. P. Mesick, Secretary) ABSENT: Mr. J. A. Martino PRESENT BY INVITATION: Mr. A. V. Bender The minutes of the meeting of March 26, 1969, were duly approved. Upon motion, the following applications for appropria tions were duly approved: $ 4,820.35: Contribution; Membership Subscription to Lead Industries Association, Inc. - Assessment #2. Doehler-Jarvis Division 201,264.00: Purchase of Fifty-four Automobiles, Toledo, Ohio (Less Trade-in allowance of $70,300.00) - Expiration Date - January 31, 1970. 32,814.00: Overexpenditure, Purchase of 2,000 Ton Aluminum Casting Machine, Toledo No. 2 Plant, Ohio - Expiration Date - April 30, 20,042.81: 1969. General Office; Services of Alexander & Green rendered during the period January 1, 1969 to and including March 31, 1969 - $19,500.00; Disbursements - $542.81. Mineral Deposits Pty. Limited 53,556.00: Purchase of One Crawler Bulldozer, Crescent Head, New South Wales, Australia (Less Trade-in allowance of $22,613.00) - Expi ration Date - May 31, 1969. 446,991.00: Construction of New Offices, Workshops and Ancillary Buildings at Ashmore Road, Southport, Queensland, Australia - Expi , . : ration Date - February 28, 1970. 20 000 00 Nuclear Division; Leasing of Additional Office Space, Wilmington, Delaware - Expi ration Date - May 31, 1971. 0000-NLI-000021331 EN-4496 (EXECUTIVE COMMITTEE - APRIL 14, 1969) Titanium Pigment Division - 'Sayreville Plant $ 73,028.00: 'Overexpenditure, Annual`Inspection of and Repairs to "E" Acid Unit - Expiration Date - April 30, 1969. 13,492.00: Overexpenditure, Utilization of Hot Gas Burners at Conversion - Expiration Date April 14, `1969.' The Committee approved and ratified the borrowing of funds, for a period of ninety days, with interest at the prime rate of 7 1/2% as follows: The Chase Manhattan Bank, N. A., $3,000,000; Irving Trust Company, $3,000,000; First National City Bank of New York, $2,000,000; Morgan Guaranty Trust Company of New York, $2,000,000. Upon motion duly made and seconded, the following resolutions were unanimously adopted: RESOLVED, That the HARRIS TRUST AND SAVINGS BANK, Chicago, be and is hereby designated a depositary in which the funds of this corporation may be deposited by its officers, agents, and employees and that any officer of this corporation be and he is hereby autho rized for and on behalf of this corporation to open an account or accounts with said Bank and to make such arrangements for the conduct thereof as to him shall seem proper; and that any officer, employee or agent of this corporation is hereby authorized to endorse for deposit negotiable instruments and orders for the payment of money, which endorsements may be made in writing or by a stamp and with or without designation of the person so endorsing; and that in the absence of any such endorsement said Bank be and is hereby autho rized to make such endorsement itself for deposit in the name of the corporation; 0000-NLI-000021332 INVESTMENT OF SURPLUS FUNDS TO MR T P MESICK. SECRETARY DATE April 9, 1969 MENRICM M6RRELL \ INVESTMENT OF SURPLUS FUNDS TO MR T P MESICK. SECRETARY DATE April 9, 1969 HENRICM mERREIL \ (EXECUTIVE COMMITTEE - APRIL 14, 1969) C FURTHER RESOLVED, That checks, drafts and orders for the payment of money withdrawing funds from said account or accounts may be signed by any two of the following: the Chairman of the Board, the President, any Vice President, the Treasurer, any -Assistant Treasurer, the Secretary, any Assistant Secretary of this corporation, and that said-Bank be and is hereby authorized and directed to honor, pay and charge to the proper and respective accounts of this corporation all checks, drafts and orders for the payment of money so drawn, when so executed, without inquiring as to the circumstances of issue or the disposition of proceeds, whether payable to or to the order of, or endorsed, or negotiated by any officer or person par ticipating in the execution thereof, or,whether de posited to the individual credit of any such officer or persons, or otherwise; FURTHER RESOLVED, That any two of the following: the Chairman of the Board, the President, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary of this corporation be and hereby are authorized upon such terms and con ditions as them shall seem proper: To borrow money and incur liabilities for, on behalf and in the name of this corporation, to sign, execute and deliver acceptances and promissory notes (including notes with a confession of judgment clause) and other obligations of this corporation for such amounts, for such time, at such rate of interest or discount and upon such terms as to them shall seem proper. t The Committee ratified and approved the investments made during the weeks ended March 31st, and April 7th, 1969, as set forth in the lists attached to and made a part of these minutes. Upon motion, the meeting then adjourned. 'f- /I. Secretary 0000-NLI-000021335