Document mB84G5orOLr81EJxL38oZVKg0

Cleveland, Ohio April 27, 1959 MATTERS ON WHICH DIRECTORS AND/OR EXECUTIVE COIM1TTEE ACTION HAS BEEN TAKEN AND ON WHICH OTHER ACTION IS PENDING TO: All Directors PAINT DIVISION 1- Budolln & Holmblad, Ltd. (9) - Vie are still awaiting receipt of executed copies of the Technological Service and Trademark Agreements approved by our Directors July 29, 1958. Mr. Axelsen, President, advised Mr. Dupont on March 7 that we would hear from him as soon as he had had an opportunity to discuss the matter with Mr. Lars Foss, who visited us the latter part of February. No further word haB been received and Mr. Dupont plans to follow the matter this week. 2. General Paint Corporation of Canada (9) - The status of this natter remains un changed. Discussions with iir. Ayres, General's principal stockholder, have been deferred until such time as he is able to represent a controlling interest of this corporation in his negotiations. 3- Sokison Kako Kalsha, Ltd. (8) - We were advised by Mr. Nakamura during his visit earlier this month that Ishihara had been informally advised that the Japanese Foreign Investzuent Commission would not approve tbs proposed Technological Service and Trademark Agreements approved by our Directors August 26, 1958* A proposal alternative to the immediate execution of these Agreements is now being explored. As soon as further information is received from Ishihara, an alternative proposal wi.ll be submitted. 4* Flnska Farrc och Fernlssfabrlks (19) - Wn are still awaiting receipt of executed copies of the Industrial Paint License Agreement approved by our Directors Spt. 24, 1957* No reply has been received to follow-up letters written by Mr. Dupont on February 2 and April 1, 1959* 5 Douglass Paint; Company of Vancouver (5) - A draft of a contract covering acquisi tion of the assets of this company and Its affiliate, Howat-Grant, Ltd., is being prepared for submission by Mr. Dorfmeyer to Douglass * Mr. Grant. 6* Scarfe d Co., Ltd, (l) - Investigations by Mr. Dorfmeyer directed toward the possible acquisition of the stock of this Canadian paint manufacturer by The Gliddra Ceerpany, Limited are continuing. CHEMICALS -FIGMENTS -METALS DIVISION Scranton Plant (10) - We are preparing 1 submit a proposal to the Trustee in Bankruptcy of JXunont-Airplpn & Marine Instruments, Inc., for approval by the court, Which we hope will permit vs to secure title to the Scranton property covered by our mortgage at a price commnsurate with its fair market value and establish a claim as a general creditor for the balance of Indebtedness due us. Fending Hatters Report -2 1 7.i -April 27, 1959 FOOD Division 1* Proposed Sale of Norwalk Plant (22) - The property has "been listed with CraginLnog-Free & Co., as authorized by the Executive Coranittee on February 18, 1959, and a program is now under way to advertise it in the "Industrial Property Guide" -- a publication of the Society of Industrial Realtors which roaches industry and lending industrial realtors throughout the country. 2- Proposed Acquisition of Property in Louisville (8) - Due to inflated asking prices for property in tl Berguan-Orrasby Streets area, the program authorized by the Executive Committee on Novertber 7, 1958, to secure options on various properties, is receiving further review and evaluation. Further recarmenflations with respect to this proposed acquisition will he submitted prior to the next Board meeting. 3- Proposed Acquisition of Property on Elston Avenue in Chicago (3) - The Food Division is continuing to investigate acquisition, of property other than that owned by the Dettler Lurtber Company adjoining its Logan Boulevard refinery as the solution to its problem of acquiring additional land for expansion. Proposed Disposition of Hillside Frcrperty (2) - It is anticipated that a contract will be awarded this veek for dismantling and. disposal of the buildings, machinery and equipment at the Food Division's abandoned hydrogen plant. The property him been 11b ted with Houston, Settle & Co., as authorized by the Executive Committee on February 18, 1959* ORGANIC CHEMICAL DIVISION 1* Proposed. Sale of Land to ftnerican Korlt Company (6) - As authorized by the Executive Cojsnittee on November 12, 1958, an agreement end deed have been submitted to American Norit's how? office in Holland covering the sale to it of a parcel of our unimproved land at Jacksonville for $8500, vith the right in us to repurchase at the same price. Execution of the agreement is expected shortly. 2. Proponed Construction of Tall Oil Acidulation Plant at Coosa Pines, Alabama (l) Negotiations with the Coosa River Newsprint Cc^nny"with respect to the construction by our Company of an acidulation plant on the basis considered by the Executive Committee on February 12, 1959, aro progressing. If a decision to proceed is made, on agreement vUl be submitted to the Board of Directors or Executive Committee for approval. r es ear c h mvtKMEHT l' jfoPpQPftd Acquisition of Property for Central Research Laboratory (k) - Rezoning of the 38-acre tract fronting on the Ohio Turnpike in Broadview Heights is expected to be approved by the Broadview Heights Council, on Msy 15, 1959* Meanwhile, engineer ing determinations and title investigations axe progressing. GLD0100P8