Document x1k3YZjp9R432eyQZ70yYYxZ6

MAM h( Ml* UEETXNO OF DIRECTORS OF TI SHEKWIH-VTILLIABS COKFAH*. A meeting of the Board of Directors of this Company ms hold at && prospect Avenue, N. W., Clvoland, Ohio, at 10t30 A. H., Friday, Hay 10; 194$, , tm following being present* ' M. J. Fortier George Ovmd C. p. Jardon Z. S. rtin L. R. Schroedor A, tt. Steudei H, D. Whittloesy Thos. E. Wilson Absenti k. D. Baldwin C. 3. Baton R, J. Main D. A. Kohr L. W. Wolcott. Ur. A. W, Stoudel, President, acted as Chairman, and Ur. L. 13. Schrooder, Secretary. On motion, duly nude, seconded amt carried, tha minutes of the meeting of April 20, 1945, wert> approved as read. The Chairman reviewed the history of the Company's investment iin the Titanium patents which were acquired by the Company, Seuoaber 31, 1937, when 5,000 shares of ooauon stock of The Shorwia-Willlaas Cmpany were issued in exchange for the patents and property of The Burgess Titanium Cooj*>ny. He pointed out that, after the Conpaty lad operated a pilot unit In Gloucester City, N. J., it was determined in 1940 to build the present plant, which was necesoorily regarded as experimental in view of the small output,in relation to the Company's requtemonts,whioh could be expected even when the plant was In full operation. It was hoped that this axperiuental plant would prove successful and that accordingly a larger plant with a minimum capacity of 10,000 tons psr year would prove desirable. Tha Chairman then commented on the record of losses incurred by the Company in this operation since the year 1937. a statement of which had been furnished to each director* Hs them stated that It had boon found that the cost of making titanium dioxide ty the Colony's process was prohibitive, its pointed out that the Company's process Involved the use as chemical agents of fluorine at a cost of $&0 per ton and ammonia at a cost of $90 per ton. winreas under the sulphate process, the patents for which art controlled by two other companies, *ulpUuric acid is employed at a cost of only L0 to $L2 par ton. and so a result it is Imperative that practically all of tbs fluorine and ammonia be recovered for re-use. It has, however, been found isqtoseible to obtain satisfactory re covery of those chemical agents, because of their axtreooly corrosive action. ' The extra oost involved in the recovery process had addod greatly to the final cost of the product, so muoh so than even based on the largest output so for i i RECORD BOOK PAGE. .ATTEST.. 0007-SWP-034456 N21729