Document NGy4E1MNodvovVwzJKkwgj5Ky

in t e r n a t io n a l SMELTING ANO REPINING COMPANY NI1106 p,,'oo(J6aoa 2ecretarj^3_Cogj INTERNATIONAL SMELTING AMP REFINING COMPANY DIRECTORS' MEETING - NOVEMBER 27. 1945 lliOO A.M. PROGRAM DIRE C T 0 R 3 lustful IHjuUk Cornelius F. Kelley* William Wraith// Frederick Laist/ Robert E. Dwyer/Clyde E. Weed / / James R. Hobbina/ / Elbert * 30werwine n-------- ------------------------------------------------------------------ Minutes of the Meeting held October 23, 1945, to be read and approved. / Presentation of Statements of Net*'Income and Net Current Assets as of / October 31, 1945, to be read and approved, / Approval of Appropriations: No. Description 170 Installing 15 ton capacity Scale for weighing custom metal purchases at the Zinc Oxide Plant 154 Purchase and Installation of a 12-ton capacity Fairbanka-Korse Scale and mechanical lifting tong to handle the 10 ton East Helena blocks at the East Chicago Plant 152 Installing St. Joseph Dezincing Process at the Lead Refinery of the East Chicago Plant Amount $2,500.00 3,450.00 13,063.00 $19,013.00 u Resolution in connection with execution of agreement with the Middlesex Dock and Foundation Company, in - See Resolution attached. RESOLVED, that the action of the Officers of the" Company-'ln executing agreement dated October 24, 1945 between the-'International Smelting and Refining Company and the Middlesex Dock and Foundation Company covering repairs to this company's dock at the Perth Amboy Plant, Perth Amboy,'N. J., be And It hereby is ratified, approved-and confirmed,' Adjournment. pNtC0CQ06b0<9 RESOLVED, that the action of the Officers of the Company in executing Agreement, dated October 24, 1945, between this Cospeny and the Middlesex Dock and' Foundation CaojjsLoy, covering repairs to the International Smelting and Refining Company's dock at the Perth Amboy Plant, Perth Amboy, N. J., amounting to $24,795^0, be and it hereby is ratified, approved and confirmed. ^11106.01 \ nrrgauTioiAi, s mb i/t h o a s p Bgano c o ip a b t amamor or agooLAS bositmc mu s t no o p b o a r d or d ir e c t o r s Xlnutec ot the Meeting held September 25, 1845, were read and approved. Statements of let Income and Safe Currant Asaeta aa of September 50, 1846 wens approved and ordarad plaoad on file. Resolution waa adapted ratifying and approTing the action of the Offloara of the Company in authorising Approprla tloaa In the amount of $8,558.18. Resolution mi adopted ratifying and approving the action of the Offlaara In pami tting the eerpoTate existence of tho Conpany la the State of Colorado to expire by limitation on October 51, 1844 and oanaal ling and reTaking the appointment of Sr. T. 8. Anderaoa, Itealdent Agent of fchla Corporation In the state of Colorado. Baaolutloa waa adapted ratifying and approving the action of the Offlaara of the Company In authorising eonfcrlbutioa 4S> not exceeding $10,000. to the aenpalgn for the rehebllltetion and anlargamant of the forth Amboy Oeneral Hospital. The Chairmen reported that the Company had discharged Ita iadabtadnaaa of $10,600,000. wring bn. tin Ameamda Capper SI Blag Company. Adjournment. p^coo"t8U INTERNATIONAL 3MELTING AMD HKFTNTWfl COMPANY DIRECTORS' MEETING - HOVEMBER 27. 1945 PROGRAM 11:00 A.M. DIREC T0R3 Cornelius F. Kelley William Wraith Frederick Daist Robert E. Dwyer Clyde E. Weed James R, Hobblna Elbert 0. Sows /) / 'i&> Minutes of the Meeting held October 23, 1945, to be read and approved. Presentation of Statements of Net Income and Net Current Assets s of October 31, 1945, to be read and approved. Approval of Appropriations: \ No. Description Amount 170 Installing 15 ton capacity Scale for weigh ing custom metal purchases at the zinc Oxide / Plant $2,500. 00' 154 Purchase and Installation of a 12-ton capacity Falrbanks-Morse Scale and mechani cal lifting tong to handle the 10 ton East Helena blocks at the East Chicago Plan' 152 Installing St. Joseph Dezineing the Dead Refinery of the East Chic $19.013.00 Resolution to be adopted ratifying and .approving the action of the Officers of the Company in executing Agreement dated October 24, 1945 with the Middlesex Dock and Foundation Company covering repairs to the Interrnnaattiioonnaall.SSmmeeltltiinngg.aanr d Refinlpe/company dock at Perth Amboy, I. J. amounting to $24,795.50. Adjournment PNYC00006812 N11106.03 * IMTIBHATI0HA1 3MMLTIIG AID BBFIHUO COMPATT mb c r a ib o m f o b p ib h o t o b s * mb b iic - ip w mb ib 27, 1945 Bmjn ip usoia Smelting Department Baritan Copper Morke Lead Befitting Department Sine Oxide Department White Lead Department Accrued Interest on Adranees to Leases Sold Miscellaneous Month sf October __ i2*2__ $28,643 41,020 7,432 3,626 1,596 Ded.net i Glacier Peak Lease Cancelled Adrenees Written Off Lose on Sale of Claims, talker lining Company Adminietratire Expenses Capital Stock fax Miscellaneous Seas*. Interest - 6% Debentures -Anaconda Copper Mining Co. - 193? Incase faxes $25,031 $- 7,500 Lee8 - Depreciation Obtoleseence Federal Income Texes *. hpo $17,551 $31,218 1ST HOOKS $31,218 Add - Hat Income of Subsidiary Companies OOBSOLIDATXD HIT HCOMS $jwia Month of September 1945 $3B,522 26,533 12,123 7.460 2,841 *i2aIL Ten Months ended 0at. 31, 1945 $219,550 939,945 69,532 87,679 26,636 18,500 18.296 $887,766 "Ten Months ended Oct. 31. 1944 $ *4.555 819,267 92,043 37,374 17.714 -56.323 $758,672 $- $- 7,690 71 $ 7.761 $17,928 *5.260 $63,188 $63,188 $63.188 44,628 97,987 10,000 8,619 56,501 8,295 . $226,030 $661,736 490,758 $170,978 60.798* $110,180 '371 $110.551 $ 60,711 *5,240 87,179 8.333 8,392 234,639 126,774 $571,268 $187,404 Zii&k $357,922 $357,922 76,226 $434.148 C0H30LIDATKD SCBPLtB ACCOUHT BALAFCE - January 1. 1945 (Adjusted) AH) - Eet Income * Ten Months ended October Jl0 1945 BALAHCS - October 31. 1945 $642,441 110.551 $752,992 Includes Federal Income Taxes - 1939 ' $ 25,498 PNYC00006813 N11106.04 nmeamioHAi anupiio abb agiirnrs c o mpu t KBCRUnKM fOH PIHBCT0S3' BBIlt -TOTBrtm 27. 194.5 priiurm am nroows - amgiyo nginnm Tooele l*ead Plant Tooele Copper Plant loeele Sulphide Conoentretor Tooele Slag Plant Miami Plant Deduct, Trannray Krpense Outside Srploretion Selling Coiatiaalon Oxide Concentrator Less: Depreciation BET IBCOWS Month of October 1?4} $41,206 2.315 5.075 21.1J3 ,,,8sitga $ii*i52 Month of September 194J ton. Months ended Oat. Jl. 1945 fen Month* ended Oct. 31. 1944 $33,129 441 6.357 13.237 9.086 $i5.53 $236,871 226,771 15,155 219,588 -S*j 35? $174. 146 $126,000 203,043 40.129 211,115 131.846 $-5W7, $ 450 <00 .. 1*5W ___252. $2,590 $28,643 $44,936 $ 4?6 424 1.520 ____518 $ 2.988 $38,522 Him $55,241 $ 2.048 17,746 19,880 5,730 $ 45,404 $219,550 .168.119 $385.669 $ 1.671 56.871 26,359 13.681 $ 98.582 $ 44,535 185,574 $230,109 PNYC0C0068 N11106.05 nmatmoiAit acaanro j x d b pif imo c c k pif t IDBCRUfiraJI FOB DIHKCT0H3' KBCTCBQ - 10YHBXH 27. 1545 mnunm m nrcom - BiBiuir OOPPSB WEES Profit on !oll* Profit on Preolnaa Profit on Gilding )Ut*J Profit on Salas Slsctro Shoot Department Mi8o#ll*ii#ouB Incoat loss - Oenaral Srponso Soiling Bxponses Baying bponsos loss - Depreciation Hat Inoosia Month of Octohar __ i2l_ Month of Saptanhor -15*5 fan Montho aadod Oot. -31, 1545 fan Months ondod Oct. 31. 1944 1 15.385 16,114 1.283 12(206 561 ____2 $ 41.J65 11.255 12,002 5*1 5.726 501 ____2* 5 28.055 558,017 202,044 76,437 76,817 7.075 -ili*2i 5 558.715 5 552,240 70,584 55.655 112.254 14.758 18.357 $ 838.332 *5*5 * . ?? $ 41,020 26.673 $. 14.547 $721 801 -1.322 f 26,533 22.851 * - 3.642 $ 2,000 5,174 7.556 18.770 ? 535,545 iaw. $ 665.594 $ 2,000 8,197 8.868 t 1 819,267 278.674 $ 540.593 PNYCOCOC6815 N1U06.06 ead<l<tti!tttsESaliiiKi&>ui<tiiiiM!iMai9K9a' 6 nreBaAfiom amas in mnmrg cogirr SPCBAIPOK TOR BIBSCTOSSi MBHIQ - mmm ;7. 19AC agaHffP m aooicc - LM) ggirots. *no cxm in b w u h Hurrao DspiRmw. Operating Inooae ia: Depreciation ira noon Z9C 0X1D* .IDtmnni Salas of Has Oxids Salsa of Slat line Cot of Sadat - Mine Oxida - Slab Xiao Operating Profiti Sino Oxida Slab Siac Depredation: Slao Oxida Slab lino Jtet Inoonai Sino Oxida Slab Sino sore oxint Pounds Sold Sales Prioa Coat of Salas SLAB STIC Pounds Sold Salas Prise Cost of Salas VE1TX HID mpUMVBi* Solos of Load Product# Cost of Salos Los st Poproolatloa ns xxaovx Ponnds of Lead Products Sold Salas Prioa Oast of Salas Sonth of Oetobar South of Septamber 1545 lei Souths anted Oct. 51. 1545 *i *>sths aadsd Oot. 31. 1944 * 7,432 JL261 1402a *56*013 %2*t22i * 58.387 J8j M *10221 $ 3.626 *-3.626 * 851 * 831 * 8.755 Lli22 814,850 6.87* 6.43* * 12,123 -L.7l * 5.422 * 69,532 26.401 * -33.131 92,04? ..?3.o?7 * 121.080 12.474 IgaKl ; *64,145 i*dZi *76,621 * 7.460 *1,147,652 -337.571 *1x385.223 *1.059.573 --137.371 *ii!22iii * 87.675 u.m * 728 *--87,679 * 13,812 * 728 * 8,188 * 13.812 * 73.867 * 8.188 * 73.867 *1.255.590 ___ *433* *1,340,122 *1,219,641 -- 83.107 *1x332,748 * >5.949 1.425 *--32.137* * 20.555 1.084 *_ 21.639 * 15,354 341 *--12,7??. 728,200 7.77* 8.8o* 13.622,800 8.42* 7.78* 14,516,483 8,65* 8.40* 887.756 8.85* 8.25* 150,008 8.31* 8.51* 2.820,530 8.42* 8.42* 981,104 8.62* 8.61* * 82,4.54 80.858 * 1.556 *.850 * 294 506,421 5.10* 8.52* * 87,847 50.688 *2.841 2.221 * 5.062 1.038,405 8.46* 8.73* * 613.292 IM635.928 * i*.*7? *--*1.111 6.888.318 8.50* 9.29* 1 547,334 .-.765,048 * 17,714 23.106 *--W.820 10,734,557 8.83* 8.59* pHYC00CC66 N11106.07 * OPTZBHAglOWAL 3MHJH0 irn gPTirXHG oagirr imBBAHDOlt FOB DIRZCTOBS* KH5TIES - TOTBCBWH 21. Wj SB COBHgra iHP OTOE ASSETS - OOJOBBt n. 194S COBBEST ASSBTSt Suppllee Betalei In Pros*** Mulshed: Lead Copper Silrer Gold By-Product* 8,793,326 IB*. 15.677.111 IB*. 8.547?' 1.911.683 oi. 35.71* 14,215 >u, $34.38 Eeserve for Freight end Beflning Charges Manufactured Product!i Lead Product* Zinc Oxide Burl ten Copper Work* - Electro Sheet Department Account* BectiraBle: Poll* Other* Inter-Company - Anaconda Sala a Company- Cash $ 392,886 1.405.75* 686,529 488,726 _12^2i $2,991,193 - 742.453 $ 162,744 368,559 -...Ifttl? $1,118,091 400,597 - 165,9*5 COHEHTr LIABILITIES t Tax** Accounts Payable Wages Payable SET COHHSST ASSETS 0T5SH ASSETS t advances to sundry mining companies. Including advance* on ore*, less reserves Installment house and land aalas and other accounts receivable, lets reserve BALAHCB - HET CUHESST UP OTESB ASSETS $ 108,773 1,325,354 ,, 1P8??5 $ 21,124 10.760 $ 969,907 2,564,426 2,2*8,760 5*5,318 1,684,633 --iliiiii $8,492,002 1.543.122 $6,948,880 51,884 $6.980.764 PNYC00G06817 N11106.08 ISTERHATIOHAL SMELTING jap BSFIHIHG COMPAMT 1CEMORAKCUM gQg DIRECTORS' MEETIRS- - BOTEmh k b 27, 194-5 `SALES, DELIVERIES AID PRODOCTI0H - ALL DEPABTMEITS SMELTER. FE0DD3TI.0H: Copper ~ Lba . - Tooele: Custom Toll Miami: Custom Toll Lead - Lbs* Tooele SCRAP COPPER RECEIVED AT PERTH AlfRny Custom Fabrication Tall Metals Reserre HEPIHEBT PRODUCT1QH Copper Ores* Leas - Toll Scrap Lead * Lbs . Silver - Czso Geld - OtS) SALES: Copper - Lbs. Tooele Miami Haritan Lead - Lbs 0 DELIVERIES: Copper - Lbs 6 Tooele Miami Han tan Lead * Lbflo Z1SC OXIDE: Production - Lbs, Deliveries - Lbs,, 'LAB 2IEC: Preduction - Lba0 Deliveries - Lba. Month of October 1945 ' Ten Months ended Oct. 31, 1945 Ten Months ended Oct. 31. 1944 Per Cent Increase 44,762 367,899 292,810 10,289.223 10.994.69A 3,128,770 5,435,791 7.191,227 2,690,156 109.288.346 124,605.520 31,675.809 8.396,858 14,533,282 4,101,368 112,089.073 35.165,019 128,608 2,418,}20 2,546.928 1,056,744 14,295,249 1S.J5i.99J 1,073,165 12,047,701 690.208 "15 rail.on 23J08.885 2,418.320 6,849,738 825,181 6,809 300,216,125 14,295,249 285.920.876 58,835,535 7,708,913 64,586 263,166,287 12,047.701 251.118.586 62,489,881 9,567,955 86,473 10.3 9.9 11.2 13.9 5.8 19.4 25.3 350,000 ' 32.615 ------ 5,681,559 4,892,450 2,725,000 339.292 1.956.745 58,570,781 9.150.000 5.550.000 1,008,040 "11.968.046 64,366,359 41.9 5.9 292,810 34,348 4.1A4.661 5,364,329 2,690,156 341.025 8.395.510 41,512,293 10,603,391 4,101,368 1,049.171 15,753,930 43,910,810 1,274,400 814,850 14,466,170 13,622,800 14,145,430 14,516,483 573,400 827,796 2,697,694 2,820.530 580,976 981,104 46.7 5.5 2.3 6.2 364.J 187.5 PNrC00QQ6818 N11106.09 FOH APPROPRIATIONS h OS. 170, 1$4, 152 SEE "APPROPRIATION PILE" PNYC0C006ol9 N11106.1 Mimamil-Tiia "AGREEMENT" MIDDLESEX DOCK AND FOUNDATION COMPANY see file "Agreements" PNYCOO006820 N11106.ll INTERNATIONAL SMELTING AMD REFINING COMPANY CONDENSED SPMMARY OF MINUTES DIRECTORS' MEETING - NOVEMBER *7,"1945. Minutes of the regular monthly meeting of the Board of Directors held October 23, 1945, were read and approved. Statements of Net Income and of Net Current Assets as of October 31, 1945 were approved and ordered placed on file* Resolution was adopted ratifying the action of the Officer's in approving Appropriations in the amount of $19,013.0(1 as follows: Installing 15 ton capacity Scale for weighing custom metal purchases at the Z^nc Oxide Plant, East Chicago $2,500.00 Purchase and Installation of a 12 ton capacity Falrbanks-Morse Scale and mechanipal lifting tong to handle the 10 ton East Helena blocks at the East Chicago Plant 3,450.00 Installing St. Joseph Dezincing Process at the Lead Refinery of the East Chicago Plant 13,063.00 $19.013.00 Resolution was adopted ratifying and approving the action of the Officers of the Company in executing Agreement dated Oct. 24, 1945 between the International Smelting and Refining Co. and the Middlesex Dock & Foundation Co. cover ing repairs to the company's dock at Perth Amboy, New Jersey, amounting to $24,795.50. Adjournment. PNYC00C06821 N11106.12 A regular wasting of the Board of Dlreotore of the INTBHBATIOKAt 3*StTIRa MO RKPIIISO COMPABX IU hold a* the office of tho Company, So. 38 Broadway, low York. . X.. on Tuesday, forombar 37, 1048, at 11:00 o'clock A. M. PRK82IT* Maaar*. Cornelius P. Xolloy Billlaa Brslth Frodsrlok Laiat Clydo I. Wood fanes R. Bobbins Slbort 0. Soworwlno ABSKBTl Bobert I. Dwywr tho President, Mr. Cornelius F. Kolloy, so ted aa Chairaan of tho nesting and Mr. C. B. Moran, Secretary thoraof. Ibo Minutes of tho regular Monthly nesting of tho Board of Dlrootors hold on Oetobor 88, 1948 wars road, and on notion duly aada, aaooadod and adopted aaro approrod. Tho Chairman proaontod to tht Mooting statenonta of lot Inoono and of fat Currant Aaaota, aa Stinted aa of Oo to bar 31, 1948, whloh, on notion duly nado and soaondod, woro approrod and ordorod plaoad on fllo. On Motion duly nado, aaooadod and unanimously adopted. It was HXSOLTBD, that tho action of tho Offloara of tho OMpaay In approving tho following Appropriations, bo, and tho oano horoby is, ratified, opprorod and aooflraod: 5Sj l 170 DwOOrlptlOO Amount Inatelling 18 ton oapaalty Boala for weighing austOM natal purchases at tho Sins Oxide Plant, last Chicago $3,800.00 184 Purohaoo and Inatallatioa of a 18 ton oapa city Fairbanks-Moraa Seale and naohosleal lifting tong to handle tbo 10 ton Beat Helena blocks at the Bast Chisago Plant 3,480.00 188 Installing St. Joseph Daalnolng Process st tho toad Refinery of tho BestChicago Plant 13,083.00 tta.gi9g There woo proaontod to tho Mooting Agreement, dated Oetobor 24, 1948, between this Company end tho Middlesex Dock A PNrC00006B2Z N11106.13 Foundation Co., c o t *ring rapaira to tha Coaipany'a dook at tha Forth Amboy Plant, Forth Amboy, V. J. It vaa On motion duly mad*, aaoondad and unanimoualy adoptad. RSS01VSS. that tha action of tha Offiaars of tha Company in axaoutlng Agraaaant, da tad Oo tobar 34, 1946, batmaan thla Company and tha Klddlaaai Dock A Foundation Co., coTaring rapaira to tha Zntarnational 3m*1ting and Baflning Company'a dook at tha Parth Amboy Plant, Farth Amboy, I. J., amounting to $84,796.40, b* and it haraby la ratlflad, approTad and oonflmad. Thar* baing no further buainaaa bafor* tha Board, on motion duly mad*, aaooodad and adoptad, tha maating adjournad. Atairman Aaaratary -a- f PNYC00006823