Document Yj5OD8VwpZyMea5wpyK4MMvYD

A Quarterly Heating of the joard of Jirectors of tae ;0aConda Lead Products Company was aeld at tae office of cne ;onpaf-i'* 25 sroadway, ilew Vorxt City, Tuesday, Jecember 15tu ;^25. at 2:30 o'clocu 9. L. PT.-JSLLT: Messrs. William wraith, Jenjanin 3. Tnayer jnd Ldward 1. Sperry. A3S3I;?: Messrs. G. ?. Kelley and Liner 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 Hat 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 tue secretary and made a permanent file of the Company in connection with this resolution. On motion, duly seconded and carried, it was H3S0LV32: That tue 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 Larch, in tne Tear Uineteen hundred and twenty-five, between AIiACOHDA L3AJ gHjhCCTS COMPANY, a corporation organized and existing under tue iE *' I 1 PKYC0C006195 of the otate of Delaware (hereinafter called the "i'roducta ^oopany" 1, party of the hirst part, and UITITDD laTAL3 ShLlIDD -3npany, a corporation organized and existing under the laws of t4le otate of Delaware (Hereinafter called tae "Selling Company -;, 0arty of tne second part: flHST The jelling company is nere'oy appointed tne sole gnd exclusive agent of tne products Company for a period of joe (1) yaar from Karch 1st, 1925, to sell, upon commission, all the vmite lead tnat nay be produced by tne products Com pany* S3C0HD The jelling Company shall use ita best endeavors to procure the highest marhet price for the said product, and 3hall 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 maJce sales at any time, at the prevailing narxet rates, unless expressly requested in writing not to do so by tne products company. JOUr.TB A3 compensation for ito services, the jelling Company 3hall receive and retain a commission, at the rate of two per cent ( Zfo) on tne price received for all products sold by it. j*I?TH All freigut and otner cnarges and expenses, except pHtCO 00061^6 tjje actual expense incurred by tne Selling Company in maiin? saies, = hall be borne and paid bj one products Company'. SIXTH The palling Company snail advance, from time to rise, upon written request of tne products company, _,i.-nty- five (85i per cent oi tne market value oi an, products aonsigned to or held by it or oy any corporation controlled by it upon tne pledge with tne jelling Company oi neeotiaole bills oi lading or storage receipts, oi a cuaracter to pass title to tne pledgee, ior tne same; such advances to be repaid out oi the proceeds tnereof. Interest to oe cnarged at tne mariet rate ior commercial loans but not less tnan iive (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 thereunto duly authorized, tne day and year iir3t above written. (3iSAI>) AlhiCOIIJa LBAD PnODUGTS COiiPAiJY, Attest: By__ ~ ~~ President. J. 3. HHNIIASSY,: Secretary. (33A1) Attest: liiilTBi) UBTALS SB1LIHG COHPAHY, 3y___JOHIJ A. UcCAHTHY, Tice President. C, V/BLCH, secretary. ! -U. PNYC00006197 PNTC00006198