Document d8kD5eRz5zXz0dD83rmMx695

MINUTES OF JOINT MEETING MCA EXECUTIVE AND FINANCE COMMITTEES Conference Room, MCA Headquarters Washington, D. C. - April 12, 1965 Following luncheon at the Washington Hilton, the members adjourned to the MCA Conference Room. The meeting was called to order by Chairman McCurdy at 1:45 p. m. There were present: Chester M. Brown George H. Decker William P. Drake Ralph K. Gottshall Thomas C. Jones W. P. Marsh, Jr. C. B. McCoy Richard C. McCurdy Thomas S. Nichols Robert B. Semple R. C. Swain Harold E. Thayer O. V. Tracy W. N. Williams M. F. Crass, Jr. General Counsel: Lloyd Symington Present by Invitation: D. H. Dawson, E. I. du Pont de Nemours & Co. Leland I. Doan, The Dow Chemical Company George H. Baker, Wyandotte Chemicals Corporation 1. Ten Months' Financial Report. It was reported that the Association is operating in the black for the ten months to date, although the margin is very slight -- approximately $1,400, Two departmental budgets are out of balance -Public Relations and Information Service. For the year, it is still expected that the over-all budget will be balanced. The income picture has been quite favorable. To date total receipts are $1, 176, 650, which is approximately $45, 000 more than the preliminary income estimate. Increased interest rates and the acquisition of 11 new members are largely accountable for this, plus sales of the Economic Facts book series. Surplus on May 31 should approximate six months operating expense which is the level deemed desirable by the Board. 2. Budget and Financing for Fiscal 1965-66. Sent to members of the two committees on March 22 was a memorandum outlining in detail a proposed budget for the fiscal year beginning June 1, 1965, together with a method of financing it. Subsequent to this mailing three additional program proposals were received from MCA committees which, in turn, were mailed to Executive and Finance Committee members for advance consideration. It was agreed to entertain discussion on these items prior to consideration of the over-all budget. (a) International Trade Committee. Survey of taxes and tariffs on f chemical products traded in world markets. This survey, requested by the MCA technical specialists acting as advisors to the U. S. GATT negotiators, would be handled by Horace J. De Podwin CMA 061261 2- - Associates Inc. at a cost of $7,000. Following discussion, the project was approved with the understanding that it would get under way immediately and be paid for out of current contingency funds. (b) Public Relations Committee. Water Management Information Program. Mr. Baker orally presented this proposal which he estimated would cost $100, 000. This would be in addition to the previously submitted Public Relations budget of $222, 150 and the programs recommended by the Environmental Health Advisory Committee. (c) Environmental Health Advisory Committee. Chemical Industry Information Agency on Environmental Health. During lunch, Mr. Logan presented this matter consisting at the outset of a survey to be conducted by the firm of Booz, Allen & Hamilton, followed later on by definitive steps to implement the survey findings at an estimated cost of $100, 000. The sum of $30, 000 has already been included in the tentative budget. Cost quoted by the BAH firm for the survey was not to exceed $45, 000. Those present then discussed generally the proposed budget as submitted. Without inclusion of the two supplemental items described above, the amount totals $1,215, 7 30 -- 7.7% higher than the budget for the current year. Financing under the present base will raise approximately $1, 232, 000. Because of the dues system's tie-in with volume of sales, this would result in increased member ship fees for approximately 75 member firms. A motion was then made that the budget as originally sent out by the Secretary-Treasurer on March 22 be approved. This was amended to provide an additional $5, 000 for the Environmental Health survey (to $35, 000) but to exclude the two additional requests of $100, 000 each. The motion, as amended, was seconded and unanimously approved by those present. It was agreed that the budget, totalling $1, 220, 730, be recommended to the Board of Directors for favorable action. 3. Program of May 11, 1965, Directors' Meeting. It has been proposed by the Public Relations and Environmental Health Advisory Committees that the Honorable James M. Quigley, Assistant Secretary, Department of Health, Education, and Welfare, be invited to attend the May 11 Board meeting in New York City and address the Directors at that time. Following discussion it was agreed to recommend to the Directors that such invitation be extended. Further, if Mr. Quigley accepts, he should be invited to present his remarks during the meeting and not at the luncheon, in which case the meeting should start at 10:30 rather than 11:00 a.m. 4. Change in Name -- Committee on Tank Cars, Tank Trucks and Portable Tanks. It was reported that the above Committee had unanimously recommended that the name of the Committee be changed to "Transportation Equipment Committee". It is believed that this name properly describes the functions of the Committee and that it will be less cumbersome and better understood. Following discussion, it was agreed that a favorable recommendation CMA 061262 l -3- on the matter should be presented to the Directors at their meeting the next day. 5. Physical Properties Research. General Decker reported briefly on status of the Texas A & M research project which is currently financed from member company subscriptions with matching funds provided by the National Bureau of Standards. The Project Subcommittee has recommended and the parent Research Advisory Committee is now considering the undertaking of an extended program which, if agreed to, would require at least a three-fold increase in financial support. 6. Proposed Reception for Foreign Dignitaries. A proposal has been received from the MCA Washington Advisory Committee that a reception in honor of the chiefs of a selected group of diplomatic delegations to the United States be arranged by the Association during next fall or winter. Cost would be borne by the participating companies. Following discussion it was agreed that no action should be taken on this proposal. 7. Reception for Members of Congress and Government Executives. General Decker briefly reported on plans for the reception which would take place that evening. On the basis of acceptances received, it is anticipated that an excellent turnout of officials, particularly Members of Congress, will be on hand. There being no further business to come before the meeting, it was unanimously resolved to adjourn. M. F. Crass, Jr. Secretary-Treasurer CMA 061263 i