Document dQJa7Z9xm36kkGZjrpVvV81mb

Meeting of Directors,. . co LU A Meeting of the Directors of Corning Glass Y/orks was held at the office of the Corporation in Corning, N.Y., on the 21st day of December, 1936, at 2:30 o'clock in the afternoon. [s., li_ CD? f. i- ~~ There were present: Messrs. Alexander D. Falck, Alanson B. Houghton, , Amory Houghton, Arthur-A. Houghton, Jr., t Eugene C. Sullivan, JoEn L. Thomas, r . r` *- oeing six oi the seven Directors and all that were in Coming on this dste, with the exception of Mr. George B. Hollister, who was confined to the hospital. -'5 O - The Chairman of the Board, Mr. Alexander D. Falck, called the meeting to order. * v . The--Minutes of the Meeting held November 30, 1936, ..were read and approved*- were The Treasurer, Mr. John L. Thornes, reported that there,, 2348 shares of First Preferred Stock m the hands of th Treasurer and recommended that this stock be cancelled. Itwas therefore, upon motion-of Mr. Arthur A. Houghton, Jr., seconded by Mr. Eugene C. Sullivan, unanimously RESOLVED that the Twenty Three Hundred and Forty Eight shares be retired and cancelled. The President. Mr. Amory Houghton, requested an appropriation of $50,000 for distribution as bonuses in his discretion. Upon motion of Mr. Alanson B. Houghton, seconded by Mr. Arthur A. Houghton, Jr., it was unanimously RESULTED that this appropriation be granted. . * . uHEHEAS, the President has reported to this Board that the net earunrs of the Company for the current year will - approximate $3,200,000 after taxes, that 51,161,187.25 has been paid in dividends, and recommended the allotment of 51*276,000.00 for certain specific purposes necessary for the Company's business, and THIS DOCUMENT.WAS NOV.A RECORD OF PPG industries; IN^.DID'Nqj come from IT'S FILES ANDCANNOT SE AUTHENTICATED BY PP& IHDUSTRIES.'INC. * | BB 0023220 | 4514 WHEREAS, after careful consideration this Board approves of the all taent of funds for such puxpos s. therefore be it RESOLVED, that the following amounts be allotted from said earnings of the corporation and expended for the ------------ indicated as the officers of the Corporation may for Coming Kealty corporation to meet costs of mew fork City buildings $200,000 and of its uorning development- $100,000 $300,000. 1*0 cover commitments to uwens-Illinois. Glass account Glass ribre patent -To cover commitment on ox>cke patent |ksrx1T-'TM. ' for Fibre products riant PeU 30,000. , .6 000 r* r, 9 r* > ?* i , i \C $ ' - : Hew tank. ' lcWicfe ---- . . Jivl PPG FH.ES Hew equipment ; 100,000 ... further expansion * 100,000 $300,000. \ for 3" ritch coming machine under order 90,000. For Improvements Hacbeth -rlants 250,000. ; * for j?ittsburgh-uomin^"Corporation/ "2/Original subscription,for stock $50,000. $rtmtooo: ,`<ir factoiy purposes v;..:/ .000. 300.000. ` and be it further . - RESOLVER, that the foregoing allotments for capital purposes be set up on the books or the Corporation in am account * marked "Reserve for 1936 Allotments." * On motion of Hr. Amory Houghton, seconded by Hr. Arthur A. Houghton, Jr.. it was unanimously RESOLVED that a . dividend of ,$6.00 per share be declared to holders of#no par value Common Stock of the Corporation of record of this date, payable December 23, 1936. On'motionof Hr. Arthur A. Houghton, Jr.. seconded by Hr. Eugene C. Sullivan,, it was unanimously RESOLVED -. * H' com Pennsylvania, to form a new corporation, entitled/'Coming Glass forks", the proper officers of this company are directed.to forth with execute a proper instrument, or instruments, of assignment to vest in Amory Houston of Coming, New York, each and every right, excepting all license rights, that this company may have in any and' all united States patents, and applications therefor; TH^DS^r^^^.^McStetSf.reBistrations for trade narks and ^PG INDUSTRIES,4NC. DIQ-NOT^QMi/FRQfth ., . ' 7 :irsntEsMDj bb_<>2322 1_j .- BY fPG INDUSTRY. IN/. /* .