Document daMzj24RkX7ea720EEyYbD9Kq

I5 National Insulation Manufacturers association 441 LEXINGTON AVENUE - NSW YORK 17. N. Y. PLAINTIFF'S EXHIBIT evmco MINUTES PLAINTIFF'S EXHIBIT of BOARD OF DIRECTORS MEETING of the NATIONAL INSULATION MANUFACTURERS ASSOCIATION Fonts Vedra Beach, Fla* May 6, 1960 The meeting was called to order at 3:30 A M. by Chairman . K. Lucha with, the following in attendance: DIRECTORS . K. Lucha N. L. Barr (Froxy for R. R. Foster) R. E. Buckley Frank Christenson A. M. Ehrat, Jr. J. 3. Jobe F. D. Kaley Ike Keith F. W. Muller E. T. Plummer (Proxy for E. T. Jol H. T. Williams Mundet Cork Corp. Xaaobey it Mattison Company Pittsburgh Coming Corp. Refractory & Insulation Corp. Baidwin-Zhret-Hill, hie. Johns-Manville Sales Corp. Pittsburgh Flats Glass Co. Forty-Eight Insulations Inc. Guctin-Bacon Mfg. Company Union Asbestos & Rubber Co. Owens-Coming Fiberglaa Corp. OTHERS PRESENT F. T. Christenson, Treasurer D. L. Hinmon M. L Ruddock, Legal Counsel J. M. Barnhart Refractory & Insulation Corp. Johns-Manville Sales Corp. Cadwalader, Wickeraham it Taft National Insulation Mfrs. Assn. APPROVAL OF MINUTES A motion was made, seconded and passed That the Minutes of the Board of Directors Meeting of January 13, I960, as bulletined by the Association office be approved. 2 TREASURER'S REPORT The Association's Balance Sheet and Statement of Income and Expendi tures as of April 15, I960, were outlined. The Treasurer's Report is attached to these Minutes and made part thereof. It was asked that in the future a Comparison of Budget to Actual Expen ditures be part of the Treasurer's Report. STATISTICAL REPORTING ON A GEOGRAPHIC BASIS Discussion on this subject revealed that the membership was desirous of receiving statistical reports on a geographic basis based on six regions, quarterly, including accumulated totals. The estimated cost of this work to NIMAt as received from Price "Waterhouse Sc Company, will be approximately $1, 200. per year. Mr. Barnhart is to contact Price Waterhouse St Company and aok *V-Tn to start their report as soon as the six months figures are available from the member companies. A map was exhibited showing the regions that were to be reportod in. Several comments were made to the effect that the boundaries to the regions should be defined on a slightly different basis. Mr. Barnhart was asked to talk to Mr. F. W. Muller and redefine the areas. A map showing the regional areas that axe to be reported in will be circulated to the Board of Directors. SAFETY PROGRAM It was the consensus that the establishment of a NIMA Safety Program with respect to health should be dropped. APPOINTMENT OF A NOMINATING COMMITTEE A Nominating Committee was appointed by President Luchs for the purpose o preparing a slate of candidates for Directors and Officers for nomination for these positions at the Annual Meeting. The Commit tee will consist of A. M. Ehret, Jr., Chairman. Mr. Frank Christenson and Mr. F. W. Muller. PUBLICITY FRCGRAM 3 Discussion on a program to adopt for distribution of the brochure pre pared by Sumner Rider Sc Associates led to a motion being made by Mr. N. L. Barr, seconded by Mr. J. B. Jobe and passed That in order to place the project on a self-liquidating basis a cost of $0. 35 per copy shall be charged to the individual companies ordering the brochure, $0. 10 of which shall be placed in the NIMA treasury to defray the expense of mailing the brochure to inquiries that are received by the Association headquarters. TECHNICAL 8c RESEARCH COMMITTEE REPORT Action on the report made by the Technical 5c Research Committee concerning requests made at a meeting in Washington, D, C, , will be deferred to the next Board of Directors meeting. OTHER BUSINESS (a) The Board of Directors authorized the following salaries for the NIMA staff, retroactive to January 1, I960: Mr. J. M. Barnhart - $12,500.00 per year (Increase of $1,000.00) Miss H. C. Lynch - $5, 800. 00 per year (Increase of $300. 00) (b) An air conditioning unit was authorized by the Board of Directors to be bought and installed for the NIMA headquarters. The cost of the installed unit and electrical work will be in the neighborhood of $475.00. OTHER BUSINESS (Con^d.) 4 (c) 2 waa announced that the Animal Meeting will be held at the Seaview Country Club, Abaecoa, N. J, , oa October 10 and 11, 1960. ADJOURNMENT There being no further business, it was moved, seconded and passed That the meeting be adjourned. Respectfully submitted M. Barnhart NATIONAL INSULATION MANUFACTURERS ASSOCIATION Balance Sheet &a of April 15, I960 CURRENT: Chase Manhattan Bank Bowery Savings Bank Emigrant Savings Bank Accounts Receivable ACCOUNTS PAYABLE: ASTM $ 4. 00 District Director 370. 16 N. Y. State Income Tan Bureau 99. 00 ^N. Y. State Employment Insurance 106. 25 Cadwalader, Wicker3ham c Taft 875. 00 Cushman 2c Wakefield Inc. 137. 48 L. F. MacAdazns Inc. 20. 00 N. Y. Telephone Company 22. 12 Peerless Towel Supply Co, 2. 40 Pine Kill Water Company 6. 70 Price Waterhouse Sc Co. 200. 00 Spartan Stationers Inc. 24. 82 Sumner Rider Sc Associates 3,006. 99 R. C Farlett 50. Q0 J. M. Barnhart 382. 09 Kazel C. Lynch 188. 39 National Mineral Wool Aa3n. 122. 04 1/1/60 over Expense 4/15/60 Total Liabilities & Surplus $ 11,681..26 2,137..09 $ 12, 125. 23 1,208,83 5,851,73 250,00 $ 19, 435. 79 $ 5,617.44 13,818.35 $ 19, 435, 79 NATIONAL INSULATION MANUFACTURERS ASSOCIATION Statement of Income and Expenditures January 1 thru April 15, I960 INCOME: Assessments Publications Savings Account Interest Accounts Receivable Less: Accts, Rec. 1959 $ $ TOTAL 21,400.00 21. 20 62.78 2Sqoo 21, 733*98 36,85 $ 21, 697. 13 EXPENSES: Salaries Social Sec. Sc With'g. Taxes Postage Telephone Sc Telegrams Stationery Sc Office Supplies Travel Sc Conference - Exec. Secy. Technical Advisor Meeting Expense Office Rent Office Equipment Electricity Miscellaneous Services Attorney Authorised Expense Promotional Publicity' Publicity Program $ Balance: Income over Expense Balance as of 1/1/60 Balance as of 4/15/60 5, 793. 42 1, 060. 85 113.91 76.37 131.21 996.44 594. 56 374.40 399.00 142.72 19.18 67. 25 875.00 566.04 87. 60 8,256.99 $ 19, 560.04 $ 2,137.09 $ 11, 681, 26 $ 13,818.35 * L, P. MacAdams Heating Sc Piping Bureau of Census $ 80.00 .7.00 60 $ 87.60 NATIONAL. INSULATION MANUFACTURERS ASSOCIATION Statement of Income and Expenditures January 1 thru April 15, I960 INCOME; Assessments Publications Savings Account Interest Accounts Receivable Less; Accts. Rec. 1959 $ $ TOTAL 21,400.00 21.20 62, 78 250*00 21, 733*98 36.85 $ 21,697. 13 EXPENSES; Salaries $ 5, 793.42 Social Sec. Sc With'g. Taxes 1, 060. 35 Postage 113.91 Telephone Sc Telegrams 76.37 Stationery Sc Office Supplies 131.21 Travel Sc Conference - Exec. Secy 996.44 Technical Advisor 594. 56 Meeting Expense 374.40 Office Rent 399.00 Office Equipment Electricity 142.72 19. 18 Miscellaneous Services 67. 35 Attorney 875. 00 Authorized Expense 566.04 Promotional Publicity ' 87. 60 Publicity Program 8, 256. 99 $ 19,560.04 Balance; Income over Expense Balance as of 1/1/60 $ 2,137.09 $ 11, 681. 26 Balance as of 4/ 15/ 60 $ 13, 818.35 * L. F. MacAdams Heating Sc Piping Bureau of Census $ 80. 00 7.00 , 60 $ 87, 60