Document Y4546mp3OQ3wQ7Z3LxbEJGOn

CITY Cleveland, Ohio llATE March PI, 1956 foi All directors sur j ec t hhttei* oa Which W.rtetom aod/or Executive Oamlttee Action Was Been Taken and on Which Other Action it Fending ANSWERIN'} LETTER OF faint Division 1. Amendment of Rlpolln Agreement (19) - Certain proponed amendment* hate been presented to fclpoliii, and any r^mwnt Incorporating theae ameoAatnts will be submitted to the Board or Executive CcHnlttee for approval. 2. C-011 Agreement (2) - The revision of the License Agreement with Kweo Research nn<TEngineering Company authorised by the Executive Committee on January 6 has been prepared and presented to Pin no for execution* Eeao hae acknowledged receipt of the revised Agreement but ae yet hae not signed the agreement or consented thereon. 3. General Paint Corporation of Canada, Limited (2) - Ifegotiations with Oeneral, aa nirtWrieeA ty the itre^Hl^ Comlttee on January 8, will be resumed on or about April 15 when Mr. Ayres returns free* vacation* * General Paint Corporation, Baa rrancisco, Calif* - As authorised by the Executive C'oBwit'tee on 'March IB, negotiations will be unfccrtaken on Wednesday, March P6, to obtain a ecmitment free* General to aell certain of ita paint assets to the C<tnpony, and any Agreement ravering r.tch acquisition will ba submitted to the Board for approval* Chatnleals-Pigsants-MetiLla Division 1* gale of Scranton. Jtmnsylvanla Plant (9) - The Agreement covering the sale of this p1*ur o burwnt-Alrplane f }brine instruments, me*, as approved by the Executive Coewiittee on March 3, has been executed, and it ia anticipated that final closing under this Afrecrwit will be on Mhrch 31, 1950* Food Division 1* Proposed Bale of Iron Street and Horvalk Haute (9) - Ho offers of purchase for ifce 'riorvalk planet Tiers been recelreAj h6v*ver7~th*r* has been Increased Interest in this plant. An offer of purchase for the Iron Etrset plant has been received In the amount of $^5,000. xt is possible that this offer nay be Increased* ?. Proposed Sale of Elmhurst, Long Island Property (7) - The first floor of the Elraireb p) ant has been leased to the keniar Warehousing and piatributing Corp. effective March 10, 1958 at a monthly rental of $H800. This lease may be terminated by the Company upon 60 days' written notice. Banter continues to be a prospective purchaser for the property, and it is presently obtaining engineering and con struction estimates covering changes in the plant which would be necessary for its operations. If satisfactory financing arrangements can be made, it is pro bable that Renter will submit a firm purchase offer for this property* WFfl/bJo w* P. gtetrelberger CLP 0099 ?3 (The figure in parentheses is ninber of consecutive months item has been pending*)