Document VoKxeqGEndvoyKqJ5DynZmMq

A Quarterly Heating of the joard of Jirectors of tae i0aconda lead Products Company was aeld at tae office of cne ;os?any, -:3* 25 sroadway, i.'ew Vorxt City, Tuesday, Jecember ieta ;^25. at 2:30 o'clock 9. 1. PT.-JSflT: Messrs. William Wraith, Jenjanin 3. Tnayer jnd fdward 1. Sperry. A333I;?: Messrs. 0. ?. helley and finer A. Sperry. . Ur. William 'Wraith, President of the Company, acted as chairman of the meeting. * "The minutes of the meeting of the 3oard of .directors aeld on September 15t'n 1925, were read and approved. ' The Chairman presented to the meeting the Balance Sheet of the Company as of October 31st 1925, and statement of let Income estimated as of Tovecber oOth 1925. On motion, duly seconded and carried, it was U3S0LV3.D: That the said 3aiance Sheet and Statement of let Income be approved and the same are hereby ordered filed wita tae secretary and made a permanent file of the Company in connection with this resolution. On motion, duly seconded and carried, it was H3S0LV3D: That tae action of the officers of the Com pany in executing the following agreement dated larch 21st ls25 with tne United Metals Selling Company be, and tne same is hereby ratified, approved and confirmed: AGHB3M3NT, made this 1st day of March, in tne Tear Uineteen hundred and twenty-five, between AIiACOHDA L3A0 ^HOUCCTS CJMPAifY. a corporation organized and existing under the "I 1 ' I . *i i H a i I PMTC0C006195 j#s tia0 otate of Delaware (hereinafter called the "Droaucts -oapany" 1, party of the hirst part, and UITITHD 'iRTALS jfLIIDC -3nJany, a corporation organized and existing tinder the laws of [jie 3tate of Delaware (nereinai ter called tae "Sellinpr company':, oarty of tne second part: JIKdT The jelling company is nere'oy appointed tne sale gnd exclusive agent of tne products Company for a perioa of 3ne (1) year from :.;arch 1st, 1925, to sell, upon commission, S11 the vmite lead tnat nay be produced by tne Products Com pany oBCOflD The jelling Company shall use ita best endeavors to procure the highest marhet price for the said product, and shall guarantee to tne products Company tne payment of tne' proceeds of all sales made by it. THIRD The terms and conditions of sale may be prescribed by the Products Company, but the jelling Company shall be free to maie sales at any time, at the prevailing market rates, unless expressly requested in writing not to do so by tne Products Company. JOUhTH ' As compensation for ito services, the jelling Company 3hall receive and retain a commission, at the rate of two per cent ( Zfo) on tae price received for all products aold by it. ' yi?TH All freight and otner cnarp-es and expenses, except pHtCO 0006196 tpe actual expense incurred by tne Selling Company in making 3aies, ^ball be borne and paid by one iroducts Company. SIXTH ' The yelling Company snail advance, from time to :ime, upon written request of tne products company, ^i.-nty- five (85i per cent of tne market value of an, products consigned to or held by it or oy any corporation controlled by it upon tne pledge with, tne jelling Company of neeotiaole bills of lading or storage receipts, of a cuaracter to pass title to tne pledgee, for tne same; such advances to be repaid out of the proceeds tnereof. Interest to oe cnarged at tne market rate for commercial loans but not less tnan five (5) per cent- per annum. In case such proceeds shall be less tnan tne amount so advanced by tne Selling Company, witn interest as aforesaid, the Products Company snail forthwith pay to the Selling Company the deficiency; and the selling Company snail have the right to pledge the products represented by such bills of lading or storage receipts for an amount equal to, out not exceeding, tne amounts advanced by it to the products Company. IH '.VITHBoS V.'HEHBOi',. tne parties hereto have caused this Agreement to be executed, under tneir respective corporate seals, by tneir respective officers tuereunto duly authorized, tne day and year fir3t above written. (3iSAI>) Alh.COIIJa LHAD P.nOJUGTS CQiiPAilY, Attest: By__ y/HAJ^TH ~ ~~ President. J. 3. HHNIIASSY,: ~ Secretary. (S3A1) Attest: liiilT-ii) IISTAIS SB1LIHG COHPAHY, 3y___JOHif A. UcCAHTHY, Tice President'. C. V/SLCH, secretary. ! -U. PNYC00006197 yarned 'aere being no furtaer busine^o before :ae 3bard, duly made, seconded and carried, tde meeting ad- C7<b--- rh~ oecretary. % 1 PNTC00006198