Document b5eenYYj5gmKr3LB16p11gvVg

Minutes of Regular Meeting of the Board of directors of National Lead Company held at wo. Ill Broadway, Lew fork City, on Thursday, April 21, 19.22, at 10 o* clone A. A._______________________________ Present: Aessrs. Eeale, Leschorman, Erocrick, Carpenter, Carter, Caselton, Cornish, Croft, Lorsey, riela, hockwell, Sicl'ord, Taylor and. Thompson. Absent: Ar. LcCarty. Present by invitation: Aessrs. Lail, ^reene and Aerrick. The minutes of the regular monthly meeting held -arch 17, 1932, were read and duly approved. On separate motions-the following resolutions were each unanimously adopted, the roll being called where the expenditure of money was involved. nnbGijVEL, that the following actions of the executive Committee be and they hereby are approved. Appropriating S 1400.00 for the construction and equip ment of a room for testing paint drying properties under conditions of controlled temperature auG humidity at the Oeneral Keseracn Laboratories. do ip 1106.00 Approving ex penditure of 1050.00 to 1250.00 for floor repairs and purchase and installation of new scale and electric hoist in Secondary ^etal department, Eckstein works, Cincinnati branch. by Aorris c. ^irk * Son, j-nc., for the purchase of two Ford roadsters for salesmen. do C 750.00 by national Lead company of California for the purchase of a Ford coach or coupe`for Seattle salesman. do ip 1343.00 by Lational-boston Lead Company, in addition to turn-in allowance on two old cars replaced, for the purchase of three two-door V3 Ford cars for salesmen. .u. SOLVES, that the report of the Comrr.itt.ee appointed to audit the treasurer's books and to verify the securities of the Comoany, dated April 20, 1S32, and submitted at this meeting, reporting said books correct and saic securities verified, be and it"hereby is accepted, approved and ordered filed. R_SuL7cL, that this Board aooroves the advance bv this Conrany to American Lead Corporation, a corporation to be organized under the laws of the state of indiana, with a capitalization of 10,000 shares without par value, for trie purpose of acquiring all the assets anc business of American Lead Company, an existing Indiana corporation engaged in the secondary lead business at Indianapolis, Indiana, and of its affiliate hillside Realty Company, of funds sufficient to enable said new corporation to purchase all tne physical assets of said American Lead Company and hillside Realty company substantially upon the terms stipulated in letter of vice President Beschorman to ur. -*ax bobbins, Vice ^resident of said American Loaa Company dated April 18, 1932, anc of such additional amounts as. may be necessary to provide working capital for said new corporation, and an undertaking on the part of this Company to supervise the business of said new corporation and contribute the technical knowledge, skill and experience of its officers to the economical conduct and development thereof, in considerationcf the issue to this Company of the 6,': demand notes of said new corporation to a principal amount eepuai to the sums so advanced it by this Company, and of 6,000 shares of the capital stock of said new corporation. hnCcLVch, that the sun of 314,020. be and it hereby is appropriated for the purchase and installation of equipment for making welded tegs of 100 pounds capacity at steel Package r'lant, st. Louis branch, in conformity with letter of -.r. * . . a . LaHerman, Superintendent, dated Hared 7, 1932. RnoOLVED, that the sum of 3527. be and it hereby is appropriated for the purchase of a Chevrolet coupe for Unite Leaa Sales Promotion representative, Atlantic Branch, in conformity wit.i letter of Hr. H. L. Bidford, manager, dated *pril 13, 1932. ABSOLVES, that the expenditure of tne sum of v575. by national Lead Company of California for tne purchase of a Ford four cylinder Tudor-sedan for its Sacramento ammunition salesman, in conformity with letter of Hr. James B. **eister, Vice f resident, dated April 14, 1932, be and it hereby is approved. On motion the meeting then adjourned. ,1 'M/ / Secretary. 0000-NLI-000021867