Document byQ3O31O96jb0qo3DgK6LRg0o
Min u t e s o f Re g u l a r Mo n t h l y Me e t in g o f t h e Bo a r d o f Dir e c t o r s 0F NATIONAL LE.^D COMPANY h e l d a t III Br o a d w a y , New Yo r k Cit y ,
Tu e s d a y , Ja n u a r y 25, 1955, a t 11:45 q Ic l o c k A.M.____________
WESENT
L. T. Be a l e V . Bu r l e y
J. n. Ma r t in o 3 . A . fi E R S 0 N 3. L. RATCLIFFE
J . H . Re id J. A. Ta y l o r H . T. Wa r sh ow W . J . WEL CH H . C . W I LD NER
Me s s r s . A. H. Dr e w e s a n d Win t h r o p Sa r g e n t , Jr .
Th e Pr e s id e n t , J. n. Ma r t in o , a c t e d a s Ch a ir ma n o f
TME me e t in g , a n d J. 3. He n r ic h a c t e d a s Se c r e t a r y .
a s u mma r y o f t h e min u t e s o f t h e l a s t p r e c e d in g me e t
in g h e l d No v e mb e r 23, 1954 w a s p r e s e n t e d a n d u p o n mo t io n , t h e r e a d
in g o f t h e min u t e s o f t h e p r e v io u s me e t in g w a s w a iv e d a n d t h e
min u t e s w e r e u n a n imo u s l y a p p r o v e d .
Up o n mo t io n s d u l y ma d e a n d s e c o n d e d , 't h e f o l l o w in g
RESOLUTIONS WERE EACH UNANIMOUSLY ADOPTED
RESOLVED, Th a t t h e a c t io n s o f t h e Ex e c u t iv e Co mmit t e e a s s e t f o r t h in t h e min u t e s o f it s me e t in g s h e l d No v e mb e r 23, De c e mb e r I, De c e mb e r 8, De c e mb e r 17, a n o De c e mb e r 22, 1954; a n d o n Ja n u a r y 13, a n d Ja n u a r y 19, 1955; s u b mit t e d a t t h is me e t in g a n d in v o l v in g e x p e n d it u r e s a n d a p p r o p r ia t io n s o f 3,454,296.76 a n d 31,002,477.97 r e s p e c t iv e l y , b e a n d t h e y h e r e b y a r e appr o ved.
RESOLVED, Th a t Div id e n d No . 2d 3 o f 1.75 a s h a r e o n t h e Cl a s s A Pr e f e r r e d St o c k o f t h e Co mp a n y a n d o n t h e Pr e f e r r e d St o c k o f t h e Co mp a n y a u t h o r iz e d p r io r t o Ap r il 21, 1927, a n d s t il l o u t s t a n d in g , b e a n d it h e r e b y is d e c l a r e d , p a y a b l e f r o m Su r p l u s Fu n d a n d Pr o f it s o n Ma r c h 15, 1955, t o s t o c k h o l d e r s o f r e c o r d a t c l o s e o f b u s in e s s Fe b r u a r y 18, 1955.
Up o n mo t io n s d u l y ma d e a n d s e c o n d e d , t h e f o l l o w in g
^SOLUTIONS w e r e EACH UNANIMOUSLY ADOPTED
RESOLVED, Th a t in c o n f o r mit y w it h t h e By -La w s o f t h e Co mp a n y , t h is Bo a r d h e r e b y f ix e s Ma r c h 31, 1955
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(BOARD OF DIRECTORS - Ja n u a r y 25, 1955)
AS THE RECORD DATE FOR THE DETERMINATION OF STOCKHOLDERS ENTITLED TO VOTE AT THE ANNUAL MEETING OF STOCKHOLDERS o f t h e Co mp a n y t o e e h e l d a t it s Pr in c ip a l Of f ic e in Sa y r e v il l e , Ne w Je r s e y , o n Th u r s d a y , Ap r il 21, 1955, a t 11:00 o 'c l o c k A. M.
RESOLVED, Th a t Wil l ia m V. Bu r l e y , Al f r e d H Dr e w e s , Win t h r o p Sa r g e n t , Jr ., a n d Ja me s n. Ta y l o r , BE AND THEY HEREBY ARE DESIGNATED AS THE NOMINEES OF THIS 30ARD FOR ELECTION TO THE OFFICE OF DIRECTOR OF Na t io n a l Le a d Co mp a n y a t t h e An n u a l Me e t in g o f St o c k h o l d e r s , THEREOF, TO BE HELD APRIL 21, 1955.
RESOLVED, Th a t s u b j e c t t o t h e a p p r o v a l o f t h e STOCKHOLDERS AT THE ANNUAL MEETING ON APRIL 21, 1955, THE FIRM OF LY3RAND, ROSS BROS. & MONTGOMERY BE ENGAGED TO AUDIT THE COMPANY'S BOOKS AND ACCOUNTS FOR THE YEAR 19 55.
FURTHER RESOLVED, Th a t a r e p r e s e n t a t iv e o f s a id FIRM BE PRESENT AT THE ANNUAL MEETING ON APRIL 19, 1955.
RESOLVED, Th a t Da v id ,,. Me r s o n , He r ma n T. /Ja r s h o w , a n d Ha r r y C. Wil d n e r , b e a n d t h e y h e r e b y a r e c o n s t it u t e d a Co mmit t e e t o r e c e iv e a n d v o t e p r o x ie s f o r t h e a n n u a l Me e t in g o f St o c k h o l d e r s t o b e h e l d a p r il 21, 1955.
RESOLVED, Th a t Ar t h u r K. Sn o w d e n a n d Mic h a e l Us s BE AND THEY HEREBY ARE APPOINTED INSPECTORS OF ELECTION TO SERVE AT THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD APRIL 21, 1955.
Up o n mo t io n d u l y ma d e a n d s e c o n d e d , t h e f o l l o w i N G
RESOLUTIONS WERE UNANIMOUSLY ADOPTED
RESOLVED, Th a t t h e r e is h e r e b y a u t h o r iz e d t h e EXCHANGE OF SEVENTY-ONE THOUSAND (71,000) SHARES OF THE Co mmo n $5 p a r s t o c k o f Na t io n a l Le a d Co mp a n y f o r a l l o f THE OUTSTANDING FOUR HUNDRED SIXTY ONE THOUSAND, SEVEN HUNDRED AND FIFTY (451,750) SHARES OF THE COMMON CAPITAL STOCK OF ?l PAR VALUE OF THE SOUTHERN SCREW COMPANY.
FURTHER RESOLVED, Th a t t h e p r o p e r o f f ic e r s o f t h is Co mp a n y b e a n d t h e y h e r e b y a r e a u t h o r iz e d a n d d ir e c t e d TO MAKE, EXECUTE AND DELIVER ALL NECESSARY DOCUMENTS AND DO ALL THINGS REQUIRED IN CARRYING OUT THE INTENTS AND PURPOSES OF THE FOREGOING RESOLUTION.
Up o n mo t io n , t h e me e t in g t h e n a d j o u r n e d
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