Document R95QkrVRKjBOR7EqpzDLyggz

mwo 01 t h f oimv covpm. Km OK TgE6*h J*T AT m* iv&. Ulnute* of thw Regular Annual Heating of the Board of Directors of The Glidden C'jupony, duly held at tl/* offlot of the. Corjpany, Cleveland, Ohio, at 11 o'clock A.K. on Friday, Uay 5th, 192a, pursuant to call and notlos. Iho meeting .as collad to order by tbs President, Hr. Adrian Ii, Joyce and Ur. B, E, Borsburgh, Secretary, recorded the minute*. Cta roll call the following cambers re found to be present: Adrian I>. Joyoa B. H. Horsburgb 0. A. Has** Otto Hiller fc. V. Levenhegen E, B. Tinker H. h. Hamilton P. L. F. Biting F. X, Gllddan X. A. Ollddan Harold T. Clark constituting a majority of the Board. The absent camber of the Board was Hr, J.B. Nutt. She Directors then took the oath of office and were duly sworn in as members of the beard for the ensuir^ year. The Coal man then stated that the first thing In order eras the electicn of the officers for the ensuing year and that nomination* v.ere in order for President. Sir. Adrian I>. Joyce waa duly nominated for the office of President. T. isnominetion *a* duly seeondrd and there being n' further noainatica* a notion was mad and seconded that the nominations be closed and that the Secretary be instructed to cast the unanimous ballot of all directors present for Ur. Adrian t-. Jcyoe a* President. This c-tion was carried unani mously. ihs President then called for nomination* for the office of First Vice-President. THK OUDDKN COMPANY r u mb aooe, wee* N13460 GLD021186 Vr. 0. A. B*n wa duly nominated for the office of Tint Vice-President. Thi* nomination are* ddly seconded and there being no further nominations a notion we* made and seconded that the nominations ha oloaad and that the Secratary ha instructed to oast the unanimous ballot of all director* present for 5r. 0. A. Haag# as ?irt Vice-Presider.t. This motion was carried unanl- mouely. 3ha Proaidant than called for nominations for tha ofxica of Second Vice-President. Ur. 8. W. LsTanhagen was duly noodnatad for the offioa of 8eoond Vioe-Pratidsnt. Thia nomination was duly eteon&ed and there being no further nomination* a action was made and .seconded that the nomination! he * closed and that the Secretary be instructed to oast the unanimous ballot of all director* present for Ur. B. V. Leranhagen at Seoond Vice-President. This motion me* carried unanimously. The President then called for nomination* for the offioa of Sea rotary-? reaaarar. Ur. B. 8. Horaburgh we* duly nominated for the offioa of Secretary-Treasurer. This nomination was duly aioonded and there being no further nominations a motion nt maide and *acondad that th* nominations bt- oloeal and that the Secretary be instructed to cast the un&niorus ballot of all directors present for V.r. B. H. Korsburgh as Secretary-Treasurer. This motion te carried unanimously. 3he Secretary-Treasurer, 4r.B. H. Eoraburgh than stated that Vr. G. *. Brume had been acting as Assistant Secretary during the pet year and that he deemed it advisable to continue this appointment, hereupon, on motion duly made, seconded and unanimously carried, the follca'ing resolution was adopted: VHE SUDDEN COMPANY Kaeoee Stone. Pmi Oo k mc t -S* Mh. GOT w. BOUSE - ASSiaTjmT SK-cFTART. BESOLVSp, that lir, Guy W. Hous* ba and horaby i* ra-a^polntsd a* Aalst*:nt Secretary of tbe Cou^pany, to hold office during the plasura of tha board, ta to authority on behalf of the Coj>any*to *iB anl oountar- ign chaoka and to sign atock certificate*. tor. Borsburgh next atatad that ha beliarad it advisable to again authorise tha aignatura of Mr. P.I. Power at Assistant Treasurer to sign payroll checks and alao to sign and countersign othar checks of tha Conpaay. thereupon, on notion duly mad* and seconded, tha following rasolutlwi aftt unanimously adopted! VB. t. W. POTOB - ASSISTANT TREASPHffi. BKSOLVEC, that Mr. F. 0. Powar b and herrby ia appointed Assistant* Treasurer f tha Cospeny, to hold offioa daring tha plaaauro of tha board* and ha authorised to use this daIgnation as Assistant Treasurer only for tha purpose ef Signing payroll Cheoks and signing and countarsignlnf othar ohaoka of tha company. Jha Secretary further atatad that ha hollared it adrisable and necessary io oontinua tha authorisation of Mr. H. K. blllinu.' tlgnatur* aa Spoi*l Vice-President in order that M . tilliaa* might* sign tha atook carti fl oat* of tha Company. V>her-t}.on, on motlunduly mad a end seconded, tha following resolution waa unanimously adoptad? MR. P,, K. tILLTAIS - SPECIAL VICB-P^ESIPKN?, JUJ?OLVED, That Mr. fi. X. Williams bo and hereby is re-appointed Special Vice-President to act as such during tha pleasurs of the Board, and b* authorised to use the d- aignation of Vice-Praaidant only for the purpoaa of signing atock certificates. LIWSFFI) OIL 13U, - SI. I,POTS MISSOURI. The Preiciant,i'r. Jcyc*, then atatad that ha bad for so&etims boon ende*rorir.g to Kara the Linseed Oil Mill at St. Souls, Missouri, put in operation tm stat'd that ha had been negotiating with Sir. S. I:, lllay of tha Fredonla Llnaaad Oil Products Company, Fredonla, Kansas, Who is an expert THK OUODCN COMPANY Itccoab Bo o k . Baas Co ms c t b* had entered into & tentative agreement to the afr'ect that a company should hs incorporate! to ba known as th* fcJound City Linseed Oil Cenpaiy; fifty percent (50^) of th stock of which company is to bo onned by She Gliddsn Compony and fifty psrcsnt (50) hy Mr. Wiley. The Gliddsn Coapaiy would agrss to lease ths Linsead Oil Mill, real estate, buildings end equipment, to this operating company for e period Ootamncing Way l&t'n, 1922 end extending to July l*t, 1923 et e monthly rental of One Thousand Dollsrs, ($1,000) per Bionth, with ths privilege to ths lessee to renew ths loess for an additional period of four (d) jroers by mutual consent enu else an option to purchaaa tbs property at its book raluo or a pries to be abroad upon whoa icrawl lows* la executed. The Gliddsn Company across to advance tbo money for nsuciqg the oeceseety luprovements and for operating expenses, any sush sums to bear interest at the rats of six parcant (.6$) per annum acd to be paid to Ths Gliddsn Company by ths operating company prior to th* distribution of any profits. It is further agreed that any profit* or any loss*** shall be split equally between The Gli&den Cp.psny and '>. Yiley, or the Company repre sented by him. Jlft*>r a lengthy discussion a motion v.aa duly mads and seconded thst the ^resident b* aotborix-d to ent*r into a contract with VH-y lor ths operati n of ths Linsssd ill Mill felony'th lines outlines. On b^ing put, the action v*s, carried tin&nin^usly.  UTHQPQSE TLAHT - BAT/rmiHE: MABTLAVD. Kr. Jryc* then gave a report on theLithopone Plant,EaJtier re, Maryland. Be *utrd that he thought it advisable to take out a charter M a aeparate company i:i the State of Maryland, >1* coamany to he known as The Chemical and Pigment* Company. A action was duly cade and seconded that tbs hoard of Directors approve the Incorporation of *uck a cwqp&ny In the State of Maryland. ?hla aotlrn was oarrled unanimously. BIPOLIH. Mr. Jryce then rendered a report with reference to the Manufacture of hipolin ana the ealee of this Inarnsl during the time that Sha Olldden Coafsany he* heenaanufaoturlng earn*. Be stated that he hoped to bars s. Dipoil;', adopted as a standard for finishing autosotiles >nd he thought this aotiou would ha taken by sweral high cla&s atutoaobila^magufacturera in the near future. Mr. Joyce also rendered report with reference to the company's business for the past two months and with special reference to the tales being made to the Ford Automobile Coupany. a . t nmv c o mp a c t - p e a b h b p ia o t . Mr. 0. A. hssua,Vice-President, then rendered report %ith ' refer-nue to the heading plant. M*. Kueae stated that business at the Beading plant was vary good and tbs plant was now operating twenty-four Lours a dsy end that the outlook was very bright for a successful year at heading. Araco::iA c c -it r a c t ^ Mr. J yce then stated thit he had been successful in s-curing an amendment to the Annconda Dvai contract so as to have that corpor ation deliver leal to cur voricus plants, thus waking a saving to The Glidden Company of something like two thousand Dollars (i><5,000) per mouth. THE OUDOEN COMPANY Wc c o k b SkMMc PASS Co ms c t  ADVB. RISING aiPQLTV. * longthy discusslim th*n took plaoa with rsfsmja* to tb sdirortising policy on Bipolln. Mr. L*T-nhagn rndar*4 report upon Kipolln sals* nxpla-ining th n*na*r in which this onawl had V- sdrartlsad. /. notion vra* duly msda and asoondad th.t thft advertising on th* kipolin Ihiuwl ha continued. This notion was carried unanimously. Shaw being no furthsr business to corns bafor* tha Bating, it was on notion duly sad* and aaeondwl, adjourned. THE OUOtHtN COMPANY Mc o o mo Vooit Pa s s Cowwci