Document pqyk6zdnVVeOKm03xdJoqmqk

MINUTES OF MEETING OF THE EXECUTIVE COMMITTEE OF THE GLIDDBjT COMPANY Minutes of meeting of the Executive Committee of The Glidden Company held at the office of the Company* 1396 Union Trust Building, Cleveland, Ohio, on Thursday, February 18, 1937, at 2:30 o*clock P.M. The meeting was presided over by Mr* Adrian D. Joyce, President, and Mr, R* H. Eorsburgh recorded the minutes as Secretazy, Present: Adrien I), Joyce H. H* Rorsburgh R, V, Levenhagen The chairman stated t hat the meeting had been called to consider the purchase of land and the erection of a Nelio- Resin plant at Valdosta, Georgia and pointed out that the Nello-Resin operation was on a profitable basis and that if we are to get the full measure of business available it would be necessary to increase our production facilities and erect a plant at a point idlere the supply of gum thus is available oh an advantageous basis. Whereupon, on motion duly made end carried, the following resolution was adopted: RESOLVED that an expenditure of One Hundred Fifty Eight Thousand Dollars ($158,000*00) coveting the erection of a Nelio-Resin plant at Valdosta, Georgia; $150,000* for plant and equipment, $4,000. for land and $4,000* for engineering expense; be and is hereby approved, subject to final approval by the Board of Directors at their next meeting* There being no further business to come before the meeting, same was upon motion duly made and carried, adjourned. GLD007329