Document NeG4w82QOKzYe6EyyGmwoye3p

PHILADELPHIA, PA January 30, If 3? At a regular meeting of the Directors of John T. Lewis & Bros Co* held this day is their offices in the Widensr Building, there were presents Edward F. Beale, Chairman of the Board 3. french Koeveffl', Yiee President and Treasurer J* I, oerdlner, flee President aorris H. Merritt,, Secretary Leonard T. Beale, Director The meeting was called to order by Mr. Edward ?. Beale, who preside d $ and Mr. Morris H. Merritt reported the minutes of the meeting. The minutes of the meeting held January 23 were read and approved. Mr. Beeves referred to hie meeting in Hew York on January 27 with % Rockwell about the retirement annuity plan for our employees who only work every other week. Be then read the resolution suggested in Mr. Boekwell*s letter of January 27,, which was adopted unanimously but with the thought that we should be very careful about extending such loans. The resolution follows % Resolved, that until June 30, If3? in the ease of any employee coming within the scope of the National Lead , f Company*s Executive Committee resolution of December f, 1937, summarised in Mr. Bates* eiroular letter of December 15* If 37, whose financial circumstances after investigation seem to warrant it, the Lewis Company lend him out of the Company funds such amount up to 75^ of his accumulated contributions toward retirement annuity as seems necessary and justified for his relief, to be repaid upon his restoration to full time employment at sueh rate as is thought proper. Also, Mr. Beeves stated that he would be glad to report to this Board once a month on this situation. It was unanimously decided to approve an lnoentive plan for increas ing the white-lead tonnage in our territory from January 1 to June 30* 1939* By this plan our territory is divided into four areas and rewards in the total amount apt to exceed $600.00 aro offered to the salesmen and promotion, men in the two areas producing the best increases. Mr. Cardiner submitted comparative sales and expense figures for each of our various salesmen. The regular weekly report of shipments was also submitted. There being no further business upon motion the meeting adjourned. Secretary, ML 000041223