Document rxdnLbDj2kwYpg0yNeNre66vJ

Philadelphia, Pa., August 14, 1944. At a regular meeting of the Directors of John T. Lewis A Bros. Company, held this day at their offices in the Widener Building, there were presents J. W. Gardiner, President S* P. Reeves, Ties President A. M. Wilson, Ties President L. T Beale, Director The meeting was ealled to order by Mr. J* W. Gardiner, who presided, and Mr. A. M. Wilson, reported the minntes of the meeting. The minutes of the meeting of July 12, were read and approved* The Directors expressed regret on the death of Mrs. Rolen Lange, on August 5. Mrs. Lange was employed by this eompaay for twenty~three year* as telephone operator. Mr. Reeves made further reference to industrial fumes from our Oil Refinery as they affect the resident# adjacent to our plant. The residents involved are reasonable in their presentations and are satisfied that this condition will be overcome when our now Oil Refinery is in operation. Mr. Reeves reported that an agreement of salo has boon aigmod covering our Fifth Street property, in the amount of $11,000.00. Final settlement will take place October 1. Mr. Reeves presented a Certificate of Merit from th Commonwealth of Pennsylvania, Department of Labor and Industry, to the management and employees of this company, in recognition of a safety record bettor than the state average for the year 1943. k/'On a motion made by Mr* Gardiner, and seoonded by Mir. L. T. Beale, it was unanimously deeidsd to make a lean to Mr. Walter Morris, Manager of Raw x Material Sales, in the amount of $9,000.00, at 3^, with the assignment of J5Q0 shares of Motional Lead Company*s common stock and Rational Load ' r, H' Company*s Group Life Insurance Policy as collateral. Mr. Morris will amortize this at a minimum rate of 5> per annum, and has the privilege of paying off any balance at any time, which ho moans to do well within five years* Mr. Gardiner reported that Mr. Watte had sold 87,000 pounds of shell strip metal to S. G. Budd. Mr. Wilson summarised the activities of the Refined Linseed Oil Department for the first six months of 1944, with some statistics as fellows 194? 1944 Percentage of Total Sales in Special Oils Percentage of Total Sales to Refined and Varnish Oils Pereentage of Total Sales to Heat Bodied Oils 4o.8 15*5 11.5 48.1 21.5 14.2 Continued \ V NL 000040888 This indicates that the trend toward* a higher percentage of Spesial Oils on which the profit margin is greater than on Saw* is being maintained. There being no further business* upon motion the meeting adjourned. A. Wilson* Anting Secretary. 1 ) NL 000040889