Document x51EQDQBLYbJ16JVLyMwn44mb

September 16, 1949 At a regular meeting of the Directors of John T. Lewie & Bros. Company held thla day In their offloe, 2607 B. Cumberland Street, Philadelphia, Penneylvania there were preeentt J. W. Gardiner, Preaident X. H. Xerritt, Seoretary L. T. Beale, Director A. B. XcGarron, Director Valter Xorrie, Director G. A. Watte, Director The meeting wee called to order by Xr. J. V. Gardiner, who preeidcd, and Xr. X. R. Xerritt reported the minutee of the meeting. Xr. Shell, Treaeurer, Xr. Patera, Comptroller, and Xr. Ravin, General Superintendent, were asked to Join the meeting. The minutee of our meeting of Auguat 19th were read and approved. The following comparative flguree for the month of Auguat 1946 end 1949 and for the eight montha of 1946 end 1949 were aubmitted ea follows, but no normal stock adjustment la included in these figuresi Auguat 1946 Profit $67,616.32 8 months 1948 - Profit $282,678.20 Auguat 1949 - Profit $111,883.73 8 months 1949 - Loss $30,257.85 Xr. Peters explained that the profit shown above of $111,883.73 would have been approximately $16,000 leas if our inventories and other figures had*been baaed on the average market price of pig lead. He also explained that we are still 19Jf under 1948 on a tonnage basis and 15$ under 1948 on a gallonage basis. The Board noted that beginning January 1, 1950 the name of this branch will be HATI0RAL LEAD COUPART, Philadelphia branch. Various comments wore made that the metal business and the red lead in oil business is becoming much more competitive. There being no further business, upon motion the meeting adjourned. NL 000040706