Document ym1og8w85pVqngVzrXLd8yvk3

The Chairman presented to the meeting statements of Net Income end of Met Current Assets, estimated as of September 301946, which on motion duly made and seconded, were approved and ordered plaeed on file. was: On motion duly made, seconded and unanimously adopted, it RESOLVED, that the action cf the Officers of the Company .* ill approving the following Appropriations be and the same hereby is ratified approved and confirmed: ): Description Amount 480 Concrete loading platform for Baker Trucks at Perth Amboy. #19,038.00 L64 Drilling a third deep well near reservoir in Pine Canyon and purchasing and Installing new i pump for well at Tootle Plant 6,150.00 I There was presented to the meeting the oontraot of sale }etween the Company and the Eagle-Plofaar Company exeouted September 27. .946 covering the sale and transfer to the Eagle-Ploher Company of & >aroel of land on which the Company's East Chicago, Indiana, Plant is ooated, together with all buildings and Improvements thereon, all fix* ures, aooessories, machine send machinery, lead and xlno bearing materials, latsrlals^and supplies, ltsms made especially for the Eaat Chicago Plant, Items now/ order by the Company and the assignment to the Eagle-Piohsr company of the Company's 0. S. Patents Hoe. 2,156,420 and 2,174,569 for a consideration of #988,000 subject to any mutual revision upon the oompleIIion of the Inventory ofmaterlals and supplies, whioh amount Is to be paid Iks follows$ a. #500,000 was reoeived from the Eagle-Piohsr Company upon the xecution of the oontraot. b. #475,000 is deposited in the duaranty Trust Company of Sew York to be paid over tothe Company upon the delivery to and acceptance by the EaglfPloher Company of a dead and abstract of title cover* lng tbs realty included In the oontraot of salt. o. Balance of purchase price toil paid in oath by the EaglfPloher Company to the Company on or before delivery and aocsptance of the deed Water,rates* power bills* real estate and personal property axes willbe apportioned aa of Ootobsr 1* 1946 aad flro insuranoe on the wildings now in effeot shall be maintained by the Company until the clos* Bg of the title. After dlsousslon it was on motion duly made, seoondtd and namimouely adopted; RESOLVED, that tbo Pr.tld.nl or Via. Prtaldont and Soar*tar, or ittl.ttnt saoratarjr bo and thop bar*bp art authorlsed and empowered on behalf of tbe Company to execute aad de* liver to the Eagle-Piohsr Company a deed of the following described real estate belonging to the Company located In East Chicago* Indiana: PNYC 00010345