Document YGqGe2vjXeYZGpvvM82jV1D3D

Dr. Robert B. O'Connor United States Steel Corporation Leo Teptow American Iron fc Steel Institute Robert T. Ross Ford Motor Company Dr. Joseph F. Treon Atlas Chemical Industries, Inc. Elgin D. Sallee American Can Company Theodore C. Waters Miles U Stoekbridge Dr. O. A. Sander Marquette University Dr. C. Arthur Webb Mellon Institute ,Dr, John F. Shronts General Mills, Inc. Dr. Blaine B. Wescott MPC Corporation Dr. G. R. Simmons Western Electric Company Paul S. Wise American Mutual Insurance Alliance Dr. Kenneth W. Smith Johns*Manvllle Corporation Dr. John A. Zapp, Jr. E. J. du Pont de Nemours & Company There being no other nominations, a motion was made, seconded and passed unanimously that the persons named in the report of the Nominating Committee be elected to serve on the Board of Trustees for the year 1964. The Chairman called upon Mr. T. F. Hatch to submit his report as Treasurer of the Foundation. Mr, Hatch summarised the financial statement pointing out that, by using actual fig* ures to September JO and estimating to December 31, we expect to end the year 1963 with total cash and savings of about $89,965.06, and will have an estimated excess expense over income of $13, 073. 65. With regard to membership in 1963, five companies joined the Foundation, one mem* ber increased their dues, and nine members resigned, thus leaving us with a decrease in dues of $1,225.00 as of September 30. Based upon anticipated income and expense for 1964, we propose a total budget of $180, 500. 00. Because of severat contracts with the National Institutes of Health, which are conducted through Mellon Institute, the Foundation will receive salary credits amount* ing to about $39,000. 00, Mr. Hatch moved that a contract be approved for 1964 between Mellon Institute and Industrial Hygiene Foundation In the sum of $139,000.00 covering the major cost of operation of the Foundation during the year 1964. This motion was soconded and unanimously passed. Following presentation of the Treasurer's report, it was moved, seconded, and passed that the Treasurer's report be accepted. * * The Chairman explained that the Foundation, since its inception, has received contlnu* ous financial support from Mellon Institute. From 1935 until 1958, this amount was significantly higher than at present, but a review of experience indicates that an average grant of.about $30,000. 00 has been made to the Foundation each year since 1958. It has been the generous supplementary contribution from Mellon Institute which has enabled IHF to continue its operations for 28 years without modification of Us dues structure. It was taken into account by the Board in 1963 that it 3.