Document ykgaDz9rq1gBy4xd2NKDQQMj4

FOR COMPLETE FILE ON SALE TO SAQLE-PICHER COMPANY OF THE EAST CHICAGO, INDIANA, PLANT SEE FILE - CONTRACTS "INTERNATIONAL SMELTING AND REFINING COMPANY - EAGLEPICKER COMPANY" Nlllll PNlTCQ0006d7 im mromm oaatm eg rm aul tr oaowtgoo bbj cm oaw a. ix Tbm a** iwn<i< * to* naatoai to* m*tn< af *al 1 i* aa i to* raitiMi n* to* ?KlMf lator <mM toftoator 17, 1946 wmiai to* *al* m* timfba to to* i(toflM*c Caw af yaraal T In* n aU*h to* ni|nr inf -tfnpt. TatIn*. Pitot la Iitotot, tooatoaar tth all baUQtapa to* lafrnwrti thtran, all rixtora*. ataanarln, *ato la a* m* toatlaary, 1m* a* atoa laartot atorkU, -Iwlrti MwUi ItoM ato MfHkUr Mr to* to** tol--pa Plaa* ItoM na to artotr *7 to* Oamaqr to* tot Mtfr--t to to* topla Pltoar Onynqr *T toa niii|**rl 0. *. Manto tau 2,158,410 to* I,ltoS9 far a int *art*f tf t>tfl,JOO nfcjito to ny atoaal rarlala* oyn toa a)*- tlto af ta* laitortaay f ntarlal* a* tafyliaa, Otto tonat la to ba fail* a* fallatan a. 4990*000 toa rtaatto* Sraa to* --eitoWaMr t^aa to* atatta t* MTS*om i* k|t*iM to to* OtoMaOr to*** OMtotor of * Tut t* b yak* raar to toa Painty ayaa toa Wtoty to to* M**|ptMM by toa Taplarlakar Ctoyny aC a tot aato atotmt 'to1' tltto naatlac to* iaMy taalaato* to to* --toaa* af *al*a *. nltoto to ytont yrlaa to b* yto* to *ato *y to* topi* Pl*ir Cnjnny to to* Otytoy * to btoto * toll*ary to* tony*m* af 'to* to*. tor ntoOa fffnr MUo* root Mtot ni fwonal yrayarty tooto toll to ayy*r> tin** a* at 'abator 1* 19*6 aa* firm tom* a* to* totltto** tan la artto* atoll b* i-r--*--* *r to* ono**r *i ta* **** r ** onto. PA^oc006fi78 N11111.01 ( v t ) * * * n PNrcocoo6a79 A regular meeting of the Board of Dlreotors of the IHTKRRATIOKAL 3WLTIR0 AID REPIBIBO COMPART *aa bold at tho offloo of tho Company, Ro. 2$ Broadway, Row York, K. T., on Tuesday, Ootobor 22, 1946* at lit 00 o*cloak A. . PHKSSSTi Mossr*. Comal 1us T. Kelley frederlok Lalot Robert s. Omyer fame 8. Bobbins K. 0. aovermlno ABBKRTl . H. Hoover Clyde t. Baad The Proaidant, Br Cemellua 8. Kallay, acted as Chairman of tba Boot lny and Kr. C. K, Moran, Secretary tho roof. - the alnutoo of tha regular aonthly meeting of tha Board of Directors hold September 24, 194 were. read end, on aotlon duly aado, aoooodad and adopted, were approved. Tha Chalraan praeanted to the meeting statements of Rot Inoooa end of Rot Current Aaeote, estimated ao of Sop toobor 30, 1946, ahlSh on aotlon duly wade and aoeonded, wore approved end orderod placed on file. On aotlon duly aedo, aeeondcd and unanimously adopted. It ail KX30LYSS, that tha aetioa of tha Offleora of tha Coapaay In approving tha folio*lrvg Appropria tions bo and tha aaao hereby la ratified, approved and eonfiraedi Bo, Description Amount 480 Conoroto loading platfora for Baker Truaks at Perth Juaboy. #19,058.00 161; Drilling a third deep call near reservoir In Pine Canyon and purchasing end Installing new puav for well at Tooele riant 8,150,00 Thera *aa presented to tho seating tha contract of 1ale between tha Company and tha Zaglo-Flohor Colony ezseutod Soptowbor 27, 1946 covering tha sale and transfer to tha BagloPlehar Coapaay of a parcel of land on which tha Company* e Sast Chicago, Indiana, Plant la located, together with ell buildings end Improvements thereon, ell fixtures, seeesaorlea, machines and aaohlnery, lead end ml no bearing materials, matarlala and supplies. Items made especially for the Beat Chisago Plant, Items no* on order by the Company and the assignment to the Eagle-PIohor Company of the Company's 0, S. Patents Roe, 2,156,420 and 2,174,559 for a consideration of #988,000 subject to any mutual revision upon tho oompletlon of tho inventory of materials and supplies, efaioh amount is to be paid aa follows1 a. #500,000 aea reoelved from tha Bagla-Pleher Company upon tho axaautlon of tha contract, b. #475,000 la deposited in the Ouaranty Trust Company of Bo* Tbrk to bo paid over to the Company upon the delivery to and aoeeptenoe by tho Saglo-Plohor Company of e deed and abstract of title covering tho realty lnoludod Is - the contract of sale. PNYC00006880 N11111.02 -2- c. Balance of purohaee pride to bo paid la oeeh by the Sagls-Pleber Coapeny to the Coapaay oa op before delivery tad tooopttnoo of tbo deed* MteP rotes, power bills, pool sststo and porsoatl property taxes wriillll hbo* folrpiMpoItrfctio1AnfleAdil to fotff DOooftaobKoowp 11, 11Q94!|/ ttndA Afl4roo Insurance on tbo buildings now In offset shall bo Mlnttlnod by tho Coapmy until tbo aloslng of tho title. After discussion It iu on action duly atdo, seconded and tmanlaoualy tdoptodi RKSOLTTO, that tho President op Ties President tnd Secretary op Assistant Soarottpy bo tnd they horoby tro authorised tnd tapooorod on behalf of the Cowpeny to axeeute tad dollrop to tho Tegl s-Plaher Ooopoay t dood of tho following dotorlbod rotl ostate belonging to tho Coapaay looated In loot Chicago, tadtaaai A port of Bloat thirteen (1J) la tbo aubdlvlaloa of tho Soatbooot quarter (I* 1/4.) of Sootloa twenty-eight (28) Township thirtyseven (57) Mrth, Kongo nine (9) tut of tho Sooond Prlnglpel Mrlalan la Lake County, Indiana, being aoro portloulaply dooopibod to folloosi ' loginning at tho point of Intoroestloa of tho South line of Sootloa tvwnty-elght (28) aforwaald with a lino parallel to tad thirty (}0) feet Mat ef the loot llao of the seventyfirs (75) foot right of way of the Baltimore tod Ohio Chi asgo Terminal Kallroad Coapaqr; thoroo forth alghtr-olght (80) hewn tea tad one quarter (lO-l/Tp) aisntea faat a 41a- llao of olid seetiomf tboaoo Torth fifty (90) degrade tad thirty-one (31) alawtoo Mol a lUwtaaoo of eewwa haadrod four and throe toatha (70h.3) foot1 theosa Mrth twaaty-nlno 7-four aad imi half drod fifty-oowoa aad sixty-two hundredths (157bd) foot to a point la a llao parallel to and thirty (30) feat Mat of the Mat llaa of tho aoroatywHwo (75) foot right of way of tbo Baltlaoro and Ohio Chicago Teminal Ballroad Co.| thonoo south six haadrod four end nine tontho (6o(p.J) foot to tbo plaoo of boglrwilng. Aloe part of Bloat four (4) la tho Subdivision of part af tha Sorthweet Quarter (*.w. lA.) of Sootloa thirty-throo (JJ), Township thlrtyasvoa (57) lorth. Rang# nine (9) seat of tbs Seeond Prlnslpal Mrldlaa, In taka County, Indiana dasorlbod as followsj Beginning at a point on tbo Mrth lino of Sootloa thirty- (33) aforesaid, one hundred (100) foot pNtC0000fc881 aetncoasiissarawBiSBiiian^^ f. ! ! 1 IXTSRX*TIoaEt> MBTXM and .4 Resolution to be adopted authoriaing the Preaident or Vic, President and S.cr.tary op Assistant S-cr.tary to .x.cut. and deliver to the 8agle-Picher Company a deed covering the sala of tha East Chicago, Indiana plant and auch other In#truaants of transfer as any ba required in connection with thj^ contract of ial*UMV^ 4*^^- /juJZmJ - C^ / ;; ' '* . ..idi.Tfl.s4.- , ... N11111.03 After diaouaaia* It vaa oa motion duly ute, aaeondad and unanimously tdoyloli ^ ^ a^: u-~ RMOLTBB, test tea Fraaldant snd Saaratary^ba and teoy haraby arm auteorlaad and ampoaarad on bahalf of tha Company to axaauta and dalirar to tea *a*la-?iahar Company a daad of tea raal aatata balonclnc to tea Coapany loaatad. In lut Chicago, Gad'*-* gi* /, ^ *A-V ^ f *v J Indiana, in aaoordanea with tea aootraat af sala haratofora aatarad Into batvaan tea Coapamy and tha tagla-flabar Ooapany on Saptaabar 27, 19if6 and praaantad ta tel* maatiag* aid ta onoaata or aaaaa to ba axaautad soah otear and furtear prapar and raaaooahla Inatrwmat* * af tranafar aa aay to ra^ulrad for tea purpaaa af aarrylnmrt ta* intent and prarlalom of tea aald aaatraat of aala. / / PNYCOC006fi64 The President reported that the operations at East Chicago, Indiana, had been terminated and the Plant had been closed. Alter discussion, it was, on motion dulj made, seconded and unanimously adopted: RESOLVED, that the Officers of the Company be and they . < ' hereby are authorized to make arrangements to sell and dispose of the land, buildings, and equipment now owned by this Company located at East Chicago, Indiana* . --nnh terms and rnnilltli ll',w]....... T~`T`~ II"*1 * N11111.04 COPT September 20, 1946. Mr. J. R. Bobbins, President Anaconda Copper Mining Company B u 1 1 d In g. Dear Mr, Bobbins: Tou will be Interested In the latest suamary of the situation as It pertains to the offer Eagle-Pleher has made for the Bast Chicago Plant. Belov I am shoving Bagle'a definite proposals as they now stand: 1) Cash payment for plant and equipment as covered bj Mr. Jurden's appraisal. Including 57.1 acres of land 2) Material and Supplies ................. # 800,000.00 56,676.18 5) Storeroom Supplies . .............. . 79,950.12 4) Items that vre made especially for the Bast Chicago Plant and for vhioh so far we have found no market . 5,000.00 TOTAL ... % 921,626.30 In addition to the above, there la a good possibility that Bagle may buy the following as Indicated: 5) Lead and sine bearing materials, including the approxi mately 22$ lead and W antimony slag 60,000.00 6) Items on order not yet delivered, estimated fair value 10,000.00 TOTAL . . . . 4 70,000.00 . In addition to the above, ve can r eaaonably expect to derive some additional r avenue, either Indirectly because of the pur chase of the plant by Cagle or by direct sale to etbor parties. 7) 25.7 acres of lend ............................................................................................# 75,000.00 8) Pension savings If Xagls purchases our property ... 55,000.00 9) freestorage forprivate carAMAC01DA three years . . 10,000.00 10) Payment forpover lineeaeeaent ......... .. 4.000.00 TOTAL . . # 124,000.00 ORAJTO TOTAL . . |1,115,626.30 PNYC00CC6886 N11111.05 Hr. J. R. Bobbin* 2- September 20, 19I4.6 A Wv oomamnts eonoemlng some of the Itess above may help to clarify tha situation. Item, if.) Ship #5,000.00 sua would include such Item* a* car borundum retort* mad* aapaolally to fit our French furnaces, special isad silver room bottlaa, one old and on* new refinery kettle whose dimen sions only fit our refinery, and aoma carborundum ar.d clay mixed that 1* designed for uaa in tha construction of muffle furnace*. With the except ion of the last item, Kagla, according to thair present plana, would have no use for any of tha item* for several years, but they haw* agreed to pal #5 ,000*00 for the lot, and Kr. Johnson and I are convinced that ve cannot obtain that much from the sale or salvage to others. Item 5) The lead, and alno bearing materials, particularly the 800 tons of high lead slag, would probably only bring approximately #50,000.00 if sold to others. * undoubtedly can get #60,000.00 gross from other 1ourcoa for these items, but the freight and loading chargee would cut the net as indicated to about #50*000,00. Item 6} This consist* mainly of l*ad-in-oil cans of various slsss that haT* been lithographed with our t redemark. These cans are being re-painted and will be elaased, more or less, as second-grade Item* on account of the re-painting. Kr. Stolte doas not have all the details, but w* believe #10,000.00 is a fair prio* that can be recovered. Item 7) The Wood Hirer Oil A Refining Company are apparently very Interested in the 25*7 acre* of land and I have asked them #87,500.00 for the acreage. They believe this is a llttla high, but I am Inclined to think if they buy at all they will pay that amount for it. If they do not parches# the lend, there are others who will, although it la questionable whether w* can realise over #5*000.00 per aor* In other directions. Item 8) The willingness of the Xagle-Richer Company to use our crews because they wish to operate the antlaonlal lead part of the refinery, white lead, lead-tn--oil and sine oxide, would save us directly on two pen sioners. on* a fire-year contract and the other on a three year approxi mately #55,000.00. Indirectly, the fact that they; will employ moat of the mam aver JO Ac sc far have been unable to find suitable jobs, will in my opiniss* indicate indirect saving to us as well as a great deal of trouble trying to pisee these men. Item 9) The proposal for free storage of the private ear In volves free rental -- the Anaoonda Company to pay for heating the car shed and for any actual aerrloea performed in taking car* of the oar. The Traffic Department In Chicago has indicated that a minimum of #10.00 a day would be chargcdi for storage in the abed unless w# can find e suit able building In on* of our Weetern plants that could be bad free* oo**6'1 coo Mr. J. H. Bobbin* -3 \ September 20, 192*6. It** 10) Kagle-Picher has agreed to change th* pow list easement Iron * location parallel and adjacent to th* canal to on* parallel to the traoka on the eaat aid* of th* plant. northern Indiana hare agreed t o pay u* fip, 000.00 for th* easement and the paper* are now being prepared. You understand, of course, that taxes will b* prorated accord ing to the date th* property la transferred to Eagle, On Insurance, all of ua so far who hare discussed the matter bellere that It would be best for us to pay the premium on the Insurance which we carry up to the day we transfer title and for Eagle to take out their own Insurance accord ing to their own Idea*, starting the date they take orer the plant. Youra rery t ruly. F.0.Case:*e ce - Mr. *. H. Hoorer Mr. F. La1st PNTC00006888