Document a47Kwrw3zzkzv6R5gj8d6mJd9

X Quarterly Meeting oi the Board of Directors of tne i0ac3nda Lead products Company was deld at tne office of tne -jiipany, lo. 25 Broadway, L'ew Yorx City, Tuesday, December lta X^25. aC 2:30 o'clock P. M. PLLSiliT: Messrs. William Wraith, Uenjaain 1. Tnayer jud fdward 1. sparry. A3SSUT: Messrs. 0. ?. Kelley and finer A. Sperry. Mr. William Wraith, President of the Company, acted as chairman of the meeting. "Che minutes of the meeting of the 3oard of Directors held on September ISth 1925, were read and approved. The Cnairman presented to the meeting the Balance Sheet of the Company as of October 31st 1925, and .Statement of let Income estimated as of lovember oOth 1925. Jn motion, duly seconded and carried, it was IfoOLVfD: That the said 3alance 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 RBSOLVBD: That tne action of the officers of the Com pany in executing the following agreement dated March 21st ls25 ith tne United Metals Selling Company be, and tne same is hereby ratified, approved and confirmed: AUS33H3HT, made this 1st day of March, in tne ?ear Nineteen hundred and twenty-five, between AIIACOWDA IfAD jHjbCCTS CJUPA1JY. a corporation organized and existing under tie | 1 i NU075 PMTC0C00619f> of the otate of Selaware (hereinafter called the "Products 1J| -oflpany"). party Of the first part, and UITIT3D ISTADS a corporation organized and existing under the laws of 00 otate of Delaware (hereinafter called tne "Celling Company!, oa,rty of the second part: RIBCT The celling Company is hereby appointed tne sole and exclusive agent of tne products Company for a period of 30e (1) year from "arch lat, 1925, to sell, upon commission, all the wnite lead tnat may be produced by tne Products Com pany , CBCOUD The celling Company shall use its best endeavors to procure the highest marhet price for the said product, and shall guarantee to the 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 celling Company shall be free to mailce sales at any time, at the prevailing market rates, unless expressly requested in writing not to do so by tne products Company. JOPHTH As compensation for it., services, the celling Company shall receive and retain a commission, at the rate of two per cent (2>5) on tne price received for all products aold by it. BIRTH All freignt and otner charges and expenses, except pHtCOOOGb^6 fiie actual expanse incurred by tne Selling Company in making 3sles,: shall be borne and paid by tne .roducts Company. SIXTH Che jelling Company snail advance, from time to time, upon written request ox' tae products company, _;i.-nty- five (85) 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 nesotiaole bills of lading or storage receipts, of a cnaracter to pass title to tne pledgee, for tne same; such advances to be repaid out of the proceeds tnereof. Interest to be cnarged at tne market rate for commercial loans but not less than five (5) per cent- per annum. In case such proceeds shall be less tnan t.'.e amount so advanced by tne jelling Company, with interest as aforesaid, tne products Company snail forthwith pay to the jelling Company the deficiency; and the jelling Company shall have the right to pledge the products represented by such bills of lading or storage receipts for an amount equal to, but not exceeding, tne amounts advanced by it to the products Company. 111 '.VITIISSS , tne parties hereto have caused this Agreement to fie executed, under tneir respective corporate seals, fiy tneir respective officers tnereunto duly autnorized, tne day and year first above 'written. (38AL) Alw.C0II.3A L3AD fuOhoCTo C0i.llAllY, Attest; ay__,f-j. >V5AITH President. J. 3. ilSirilSSSY, Secretary CUITA-D i.lSCALS SEALIHG COMPANY, Attest: 3y__ JOHU A. IbJiuoCuAtiAUTi HiiYl,; Vice President. Secretary. J 4 PNYC00006197 I "aera being no furSuer business before one loard, 3& 30tion duly made, seconded and carried, the meeting ad^urned* 6 oecretar^. PNYC00006198