Document zLrMmKja7XXEE7ELZwrrpqm7

General Meeting June 7, 1974 Twin Bridges Marriott, Arlington, Virginia Ir. Attendance AMAT2X CORPORATION J. L, Rainey M. J. Scanlan OARLOCK INC. ?. 5. KarJce A. Xuzauie aiCCLST INDUSTRIES, INC. 0. 0. Gabrielscn, Jr. RAYE2STOS-XANHATTAN, INC. W. A. Guenther M. Q. Scowcroft SOUTHERN ASBESTOS CO:<PANT 2. C. Brae: UNIROYAL , INC. i. D. tenihan ; Arthur i Dry k Kalis*! Morris ASBESTOS CORPORATION LTD. P. E. tocierc CANADIAN JCMS-MANVILL2 CO. ltd. N. w. Hendry (J-M) R. B. Von Wald {J~M) CAS3IAR ASBESTOS CORPORATION LTD. O. B. McDermott LAKE ASBESTOS OF QUEBEC LTD. 2. A. Farrell C. E. Stiefkea (Asarco) NIPPON ASBESTOS CO. LTD. K. Mori Y. Sato TBA INDUSTRIAL PRODUCTS LTD. H. J. Corson HULL, TOWILl, NORMAN, BAREST? k JOUNSON W. B. Alcorn, Jr. (ATI Attorn*;-) ASBESTOS TEXTILE INSTITUTE D. M. Fagan, Executive Secretary Total attendance during the two-day 1974 Spring Meeting was 24 peot.e including 19 members, ) wives, 1 staff member and 1 Legal Cour.se*; ,representing 12 companies, plus 2 representatives of the AT. * HI 0225 1. The Spring 1974 General Meeting of the Asbestos Textile Institute was called to order at 9:00 a^mv, June 7, 1974, by President A. Scowcroft, of Raybestos-Manhattan, Inc. o WV-03436 Page 2 -- a?- jer.erau Msettr.j - c/?/?x 2. President Scowcroft officially welcomed the small hue select group in attendance. He stated that the reason for the lesser amount of attendees wars, of course, that the subject of the seating was the Texas Litigation and that none of the usual committee activities had been scheduled. He 'then reauested that each in attendance rise and ,, give his name and business affiliation. The list is as per page 1 of these Minutes. 2. Upon calling for the reading of the Minutes of the last stated meeting, it was moved by 2. A, Morris, seconded by 0. G. Cabrielson, Jr., and so carried, to dispense with the reading of said minutes. t Report of runes as of .ssy i*, xv/4. ;otax on hand as ox oepcescer . 19/3 (the beginning of the current Fiscal Tear) was $16,113.5$; re ceipts from book sales, dues, etc., were $15,279.93; disbursements amounted to 321,023.58 (the bulk of which were for litigation costs ' ar.d attorneys' fees); and the 2alar.ee on Hand as of May 15 1974, amounted to S10,369.96. This figure should further be reduced by some $2000.CO for an unanticipated litigation expense which means as of today the net worth of the organisation is approximately.- $3000.CO. It was moved by C. 2. Stiefken, seconded by A. Xusrnuk, ar.d so carried, to accept the Financial Report as presented. The retort will be filed for audit. . 5. It was reported by President Scowcroft chat the 1974 Annual Meet ing of the Institute will be held, as scheduled, at The Cloister, c Sea Island, Georgia, Wednesday through Friday, September 25-27, 1974. The meeting will include regular committee meetings and report and a Fibre Producers' Report. He further advised the Executive Secre tary will mail the^meeting notices to the general membership eariiar chan usual since The Cloister has recently established the policy cf requiring a $75.00 advance deposit for each room by mid-August. 9- 5. The following matters concerning membership were announced by the "resident. Johns-Manville Corporation'has changed its status in the ATI ir. that it has dropped its Class A/JUgular Member classification, but the membership has been picked up by Canadian Johns-"Manvil'le Xo. ltd. a C.J-M is now the ATX member company as a Class C/Assooiate, which is :he category for miners of asbestos spinning CLt%rs. The President expressed it was his pleasure, on behalf of ohe Institute, to welcome Asahi Asbestos Co. Ltd., Tokyo, Japan, as a new Class D/Associate Member. 7. C. 2. Stiefken informed the President that the Chrysotile Asfces- Manual, 3rd edition, should be available in about six months' time. President Scowcroft said that further information * " ~~Ii be at hand at the 1974 Annual Meeting on Sea Island. i-** * ATI 0004403 LAQ-WY ? 10/93 602136 rage } -- ATI General rfeetir.g - 6/7/74 9. It was announced by the President that the 8pgi-of Governors had * voted to fores an.ad hoc committee. It will operate within the pre sent structure of the Institute and itssfunction, and sole purwie' * will be to provide a forum comtksed or,-reprjuuvt^iveslof boat Jugu lar and Associate Ambers, including, the mineto* consider litiga tion matters and to make recoaf+hdttions to the 3&rd of Governors * concerning the defense of the pending litigation.'' '-this eill five the Board the benefit of the thinking of the Institute's totai mem bership. The President emphasised that such representatives who sit os the ad hoc committee will have an equal vote* on that committee and that the recommendations passed by that committee will be made * to the Board of Governors. It is planned that a meeting of the ad- *f hoc committee will take place prior to each AIT Board of. Governorst setting. -' President Scowcroft advised, he had-appointed R, Bn Pen WaldT^of Johr.s-Manviile Corporation, as Chairman of the ad hoc committee,, with 2. C, Bract> of Southern Asbestos Company,*-as Vice-Chairman. #e then named the following membey companies as having expressed thp desire to have reorssentation on the ad hoc committee: Amatex forpcration. Asbestos Corporation Ltd., Bell Asbestos Mines Ltd., Cassiar Asbestos Corporation Ltd., Lake Asbestos of Quebec Ltdr Kicelet Industries, Inc., Kipcon Asbestos Co. Ltd., Oarlock Inc., Raybe stoa-Mintartssgn* Inc., Southern Asbestos Company, TBA Industrial Products Ltd. and Uniroyal, Inc. He requested that each of these companies designatV its representative to sit on the ad hoc committee*and that other member companies who are interested in being represented*on the ad* hoc committee should so advise Mr. Von Wald, himself or the ATI Executive Secretary, As Chairman of the ad hoc committee, MT. Von Wald said that the committee is designed as a means .by which Associate Members can obtain information about the Texas Litigation and can provide input into the Board of Governors of any thoughts concemingwthe defense ar.d posture of the case and actions they think may be necessary with respect to the litigation. The committee Is designed strictly for the litigation and not for any other purpose. Kb hopes initial ly to make contact with everyone who is interestgd-*or they may write him at Johns-Manvilie Corporation, Greenwood Plata, Denver, Colorado 80217. He sqid the litigatiofi Vs important to each company, .ever, though it may not have individual exposure, and that it is a critical litigation for Industry in general, as well as for the asbestos industry in particular. Following an inquiry from the floor, Mr. Von Wald concurred that the lawyers active on the ad hoc committee would represent ATI mem:- ter companies and would consider positions that ATI should take? In answer to another question, Mr. Von Wald, stated it is net t.. intent of the ad hoc committee to supervise the litigation. The tigation is supervised by the ATI Board t>f\Gcrr*roopp; Tha ad hcc committee is designed as a medium through which^the Asaoeiate*nemb*rs. can have a voice in what goes on and can get specific infomattor. about the litigation. Under the present structure of the ATI? tr-b crinary responsibility for the Institute lies-with the Bqard *of Sovtmors only. *\ cr*,..... LAQ-WV - ATE ''204401 10J93 0C2137 Page L ATI General r'oetiag -- 6/7'74 2^ President Seowcroft confirmed the information that previously had teen sent to the general membership in that ATI has redesignated its legal counsel from Cadwalader, Wickershaa k Taft to Hull, Towill, .'loraan, Barrett and Johnson, or more specifically, to tfendel 3, Alcorn, Jr. This change was made with the unreserved blessing of Cadwalader, the prlaary reason being that Cadwalader had recommended Wendell Alcorn as Trial Counsel for the Texas Litigation and that as that litigation proceeded it became clear both to ATI and to Cadwaladtr that the substantial function of ATI's counsel, at least for the short term, would be to defend these cases. It became obvious that the most efficient and economical method of conducting the defense was through the retention of one law firm to act both as Trial Counsel and as General Counsel. On behalf of the ATI, .... President Scowerft expressed delight in having Wendell Alcorn again working with us. ---> 10. President $cowerft reiterated that the 197L Annual Meeting of the Institute will be held as scheduled. It is the intent of the Board of Governors to keep the Institute going but it must marshall its resources in order to be able to afford the cost of the litiga tion. 11. The President then turned the meeting over to Trial Counsel for aoriefing on the progress of the cases pending in Tyler, Texas. His remarks are recorded in a "ftemorandua of Attorney-Client Confer ence, June 7, 1971" and which Is available for Inspection by members of ATI at the Office of the Executive Secretary. 12. There being no further business to be brought before the member ship, a move for adjournment was made by A* Kusmuk, seconded by C. E. Stiefken, and so carried. The meeting was adjourned at 1100 a.m. Respectfully submitted, Doris M. Fagan Executive "Secretary /V 002138 ATI 9440: V as3estcs textile ::?sr: TS Fiscal Viif ending August 31, 137; Report off Funds Periods September 1, 1973, thru May 15, 1974 0004406 Balance on Hand September 1, 1973 -- General Fund Reserve Fund Petty Cash Fund Total on Sand at 9/1/73 Receipts General Fund - Dues for Year 1973 Book Sales Magnetite Samples S 2,683.98 13,346.91 87.97 8 125,00 86.71 25.00 Reserve Fund - Dues for Year 1974 Interest to 12/31/73 Total Receipts ...... 14,250.00 793.27 Disbursements * Legal Retainer & Expenses (to 3/31/74} $ 4,805.98 Secretary's Gross Wages 1,448.00 Taxes on Wages Paid by ATX 123.16 ATI Meeting Expense (10/73 * 2/74) 1,444.8$ Secretary's Keeting/Travel Expense 469.05 Telephone (0/73-4/74) 471.76 Printing Supplies/Services 406.81 Postage 394.84 Office Supplies 6 Miscellaneous 138.09 Revision off Test Manual (J.L.Tucker) 96.99 Rental of Office Spec# 405.00 Accountant (Caruso - F/Y 72-73) 300.00 ASTM Dues for Year 1974 25.00 Giffts/Flowers/Plaques, etc. Insurance 63.34 125.00 litigation: Office Expenses 189.05 See'y Travel Expenses (4/74) 149.39 AJI Meeting Expenses (4/74) 7.18 legal Services (1st Qtr 74) 9,965.09 Total Disbursements . . BALANCE OH HAND MAY 15, 1974 .... Funds as of May 15, 1974 -- Genersl Fund Reserve Fund Petty Cash Fund 8 1,473.55 8,890.18 6.23 TOTAL AVAILABLE FUNDS MAY i15, 1974 . Assets as of May 15, 1974 -- Total Funds, as listed ehcvo Accounts Receivable - Rook Sales Magnetite Samples 1974 Dues Furniture & Equipment (Nominal Value) 5 10,369.96 6.46 5.00 375.00 1.00 TOTAL. ASSETS........................ TOTAL LIAS HIT: ES . . . TOTAL NET WORTH !JAY IS , 1974 . . UQ'WXo2139 10/93 002139 $ 16,118.56 * 15,279.39 $ 31,393.54 < l , S.f - 21,028.58 6 10,369.96 , $ 10,369.96 S 10,757.42 6 10,757.42