Document oYBm56m4egYwXy0L5565Z6O3

A Quarterly Heating oi the Board of Directors of tne iriaconda lead products Company was held at tne office of tne ,,.,0pany, Wo. 25 Broadway, Hew "orx City, Tuesday, December 15tn 1925.. aC 2:30 o'clock f. H. yy.DoiHT: Messrs. William Wraith, Benjamin j. Thayer idward 1. .sparry. ABdiiUT: Messrs. 0. ?. ilelley and liner A. .sparry. Mr- William Wraith, President of the Company, acted sS chairman of the meeting. "Che minutes of the meeting of the 3oard of Directors iieid on September 15th 1925, were read and approved. ' Che Cnairman presented to the meeting the Balance Sheet of the Company as of October 31st 1925, and .Statement of Jet Income estimated as of November .:0th 1925. Jn notion, duly seconded and carried, it was MioOLVlD: That the said 3alance Sheet and .statement of Wet Income be approved and the same are hereby ordered filed witn tue .secretary and made a permanent file of the Company in connection with this resolution. On motion, duly seconded and carried, it was KidOLVlD: That tne action of the officers of the Com pany in executing the following agreement dated March 21st ls25 with tne United Metals Selling Company be, and tne same is hereby- ratified, approved and confirmed: AUiSSlinT, made this 1st day of March, in tne Jear Nineteen hundred and twenty-five, between AIMCOWDA LBAD jjPDccTd COUPAiJY. a corporation organized and existing under tne *! 1 1 j 1 I' i> t. N11075 PNYC0C006195 0 tiie ^tats Delaware (hereinafter called the "Products W jgflpany"). party of the first part, and Ulrica URTAD3 SRlim a . ,p0pany, a corporation organized and existing- under the lav/s of tJle state of Delaware (hereinafter called tne "galling company}, Darty the second part: ` FIH3T The jelling company is hereby appointed tne sole and exclusive agent of tae products Company for a period of one (1) year from "arch 1st, 1925, to sell, upon commission, 311 the waite lead tnat may be produced by tne Products Com pany 3SCOND The belling Company shall use its best endeavors to procure the highest market price for the said product, and ghall guarantee to the Products Company tne payment of tne' proceeds of all sales made by it. THIRD The terms and conditions of sale may be prescribed by the Products Company, but the jelling Company shall be free to make sales at any time, at the prevailing marxet rates, unless expressly requested in writing not to do so by tne Products Company. FOURTH ` As compensation for it.= services, the jelling Company shall receive and retain a commission, at the rate of two per cent (2fo) on tne price received for all products sold by it. ` P1! RTH All freignt and otner cnarp-es and expenses, except pHtC00006^6 t-ag actual expanse incurred by tne Selling Company in making 3ale9* shall be borne and paid by tne products Company. SIXTH 0 The selling Company snail advance, from time to time, upon written request oi tae jroducts company, S,i.-nty- five (85) per cent of tne market value of an., products consigned to or held by it or oy any corporation controlled by it upon tne pledge with tne jelling Company of negotiaole bills of lading or storage receipts, of a enaracter to pass title to tne pledgee, for tne same; such advances to be repaid out of the proceeds tnereof. Interest to be cnarged at tne market rate for commercial loans but not less than five (5) per cent- per annum. In case such proceeds shall be less tnan tne amount so advanced by tne Selling Company, with interest as aforesaid, tne products Company snail forthwith pay to the Selling Company the deficiency; and the Selling Company shall have the right to pledge the products represented by such bills of lading or storage receipts for an amount equal to, but not exceeding, tne amounts advanced by it to the aroduets Company. Ill '.VITIISSS '.VHHHiiOi', , tne parties hereto have caused this Agreement to fie executed, under tneir respective corporate seals, fiy tneir respective officers tuereumo duly authorized, tne day and year first above written. (3SAL) AlhiCOIISa. LEAN P-vDijJC73 COMPANY, Attest: By ,7:1. >VRAITH President. J. . 3. HSlfllSSSY, Secretary. (SSAI) Attest: blilT^J I.ISTALS SELLING COMPANY, 3y JOHN a. McCarthy. Vice President. C. \U V/SICH. - Secretary. PNYC00006197 PNYC00006198