Document ze5BERvV3YKdkOQgB8RRk2nR

aTY Cleveland, Ohio DATIr*Tjrufcry 81, 195 ,0'' Ml Director* subj ec t otters on Which Director* nnft/or Executive Committee Action Has Been Taken and on Which Other Action la Banding ANSWEftJNQ IETTI* OF PaintDivision 1* Aaeadaeat of Blpolin Agreement (1(3) - Negotiations with respect to this pro* pose'A nrmndrvent will be continued during the week of February 17 when Msitrit Bayun and Pels visit Cleveland, 2. Sale of gmngvUJLc Branch (10) - a suitable location for the new Evansville Branch Has'not'as yet teen Toun?. The sale of our present Evansville Branch property, as authorieed by the directors on March 15, 1957# will be delayed until arrangenents ean be made to assure obtaining other suitable branch facilities* 3 ITE's Covering Rehabilitation of Cleveland Plant (4) - Changes in the expendi tures covered by ffE I-Vj I-b7 approved Hy the feoard on September 84, 1957, suggested by the Chief Engineer, Insurance Muiager and Controller are to be sub mitted by Mr. Duncan to the Board or Executive Ccmlttee at the February or March meeting. 4. c-Oll Agreement (1) - The revision of the License Agreement with Esso Research 55ZT Engineering Company authorised by the Executive Conalttee on January 6 has been prepared and presented to Esso for execution. 5* General faint Corporation of Canada, Limited (1} - Negotiations with Qeneral, as authoriteA Vy toe Executive Ccmlttee on January 6, will be refused on or about April 15 when Mr. Ayres returns frm vacation. Chnsicals-pigaents-Mstals Division 1. Proposed sale of Seranton, Pennsylvania Rant (0) negotiations for the sale of tills plant are still pending. Food Division 1. Proposed Bale of Iron Street and Norwalk Plants (0) - No offers of purchase for either the iron street or Horvailt plants have been received. With respect to the Norwalk plant, five non-exclusive real estate brokers art attempting to find a purchaser, and one company has evidenced a definite interest in this property. 2* Proposed Bale of Elmhurst, long island property (6) - No reasonable offers of purchase for this pJjant have Ten received. Bis property Is now listed with a nuaber of industrial brokers, and several brokers are extremely active in soliciting prospective purchasers. A one year lease, which can be terminated by the Company upon 60 days1 notice, of the first floor of the plant is being prepared and will be submitted for approval. It is believe that a partial GLD009917 All Director# -2- February 21, 195* occupancy of the plant vlll facilitate it* *ale and, In addition, to a grant extent, defray our carrying coat* of tha building* Southern Chealcal Pivision1 1. crertvood Street miooation (7) - The Southern Cbenical Dirieioo'e negotiation* with tte City of Jackaonrilie for the relocation of Creetvood Street are pending, nnd, at the present tine, the City hat indicated that the total eoat of thl* project will eubetantially exceed the aunt of $12,500 a* authorleed by the director* on April 19, 1957* 2* Adell Chealcal Ccegany ~ The agrenent authorited by the Smcutir* Connlttee on January H ha* been presented, to Aden for execution* Whether Adell will execute such an agreenent appear* to be dependent upon pine oil nartcet condition** WPfl/hJ* V* P. Stetselberger GL 0009918 (The figure in parentheee* 1* nunber of eoneeeutlr* nonth* lten ha* been pending*)