Document zobzjB9O7d9GQ2wmYRnmozaba

City, on Thursday, April 15. 1926, at 10 o^lock A. M. Present: Messrs. Beschorman, Brodrick, Carpenter, Carter, Cornish, Field, Gregg, McCarty, Rockwell, Sidford, Taylor, Thompson and W'ettstein. Absent: Messrs. Beale and Dorsey. The minutes of the regular meeting held March 18, 1926, were read and duly approved. On separate motions the following resolutions were each unanimously adopted, the roll being called where the expenditure of money was involved. RESOLVED, that the following actions of the Executive Committee be and they hereby are approved. Appropriating Approving ex penditure of i do do $69,500.00 $ 4,235.00 $ 2,375.00 $ 961.00 for purhchase and installation of two Symons Disc Crushers, for increasing flotation plant and for additional tanks and thickening apparatus at St. Francois Mill, St. Louis Smelting <* Refining Works, by John T. Lewis & Bros. Co. for changing fire boxes of mechanical furnaces in the Oxide Department of its Philadelphia Plant, by John T. Lewis * Bros. Co. for improvements and additions to the Printing Department at its Philadelphia Plant, by John T. Lewis & Bros. Co. for purchase of Burroughs MoonHopkins billing machine. Authorizing contribution of $2000.toward the expenses for the current year of Linseed Oil Consumers Flax Development Committee. Approving purchase by National Pigments & Chemical Company from Richwoods Development Company of 4786.51 acres, more or less, of barytes ore lands in Washington and Jefferson Counties, Missouri, for the sum of $50,000. Appointing Harry G. Matthews an Assistant Comptroller of the Atlantic Branch of the Company. 0000-NLI-000021758 RESOLVED, that the officers of the Company be and they hereby are authorized to contribute the sum of $1000. toward the expenses of a survey of the cost of doing business for the paint distributor, to be conducted by the Harvard University Bureau of Business Research under the auspices of The National Association of Paint Distributors. RESOLVED, that the officers of the Company i be and they hereby are authorized and empowered, pursuant to negotiations heretofore conducted by Mr. Evans McCarty and reported to this Board, to offer to sell to Winchester Repeating Arms Company the Capital Stock and/or assess and business of United States Cartridge Company, with certain exceptions as here inafter specified, at a price equal to the cost of raw materials, goods in process and finished goods on hand at a date to be agreed upon for the consummation of the transaction, payable in cash from time to time as said materials are worked up and liquidated, plus the sum of $750,000. payable by the demand note of said Winchester Repeating Arms Company to be later exchanged for securities of said Company satisfactory to this Company; upon the express understanding that there shall be excluded from this transaction the real estate and buildings of said United States Cartridge Company at Perth Amboy, N. J., and the machinery, tools, inventory, patents, licenses, accounts receivable and good will of the radiator business of said United States Cartridge Company; and that said officers be and they hereby are further authorized and empowered as a part of the transaction herein authorized to enter into an agreement with said Winchester Repeating Arms Company whereby this Company shall continue, for such time as may be mutually agreeable to both parties and upon the same terms as are now in effect between this Company and said United States Cartridge Company, the distribution and sale of United States Cartridge Company ammunition, U.S. Brands; and that said officers be and they hereby are further authorized and empowered, in the event of acceptance of said offer, to execute and deliver any and all such agreements, assignments and other instruments, and to take any and all such steps as may in their judgment be necessary or expedient to consummate the transaction herein authorized. RESOLVED, that the proposed expenditure of the sum of $955. by National Lead Company of Massachusetts, including turn-in value of old car replaced, for the purchase of a Chrysler 4-cylinder coupe for salesman, in conformity with letter of Mr. A. H. Brodrick, Treasurer, dated April 2, 1926, be and it hereby is approved. RESOLVED, that the proposed sale by Bass-Hueter Paint Company of that certain vacant lot of land owned by it in the City of San Francisco and adjoining the property of the Pacific Rolling Mill Company, and the proposed expenditure by it of the sum of approximately $80,000. in improvements to that other certain vacant lot of land owned by it in said City of San Francisco at the southeast corner of Army and Kansas Streets, consisting of grading, construction of spur track, installation of storage tanks and construction of lacquer plant and other service buildings, in conformity with letter of Mr. E. H. Dyer, President, dated April 1, 1926, be and they hereby are generally approved, subject, as respects said improvements, to specific approval of detailed plans by this Board or by the Executive 0000-NLI-000021759 16 Committee before contracts therefor are let. On motion the meeting tf'nen adjourned. / Secretary. Minutes of Annual Meeting of the Board of Directors of National Lead Company held at 15 Exchange Place, Jersey City, N. J., on Thursday, April 15, 1S26, at 1: o1clock P. M. Present: Messrs. Beale, Beschorman, Brodrick, Carpenter, Carter, Cornish, Field, Gregg, McCarty, Rockwell, Sidford, Taylor, Thompson and Wettstein. Absent: Mr. Dorsey. On motion duly made and seconded Mr. George 0. Carpenter was appointed temporary Ghairman of the meeting, Mr. Cole, Secretary, acting as Secretary thereof. The Chairman reported that at the Annual Meeting of Stockholders just concluded the following Directors of the Company, wnose terms then expired, had been re-elected Directors for a term of three years ending witn the third Thursday in April 1929, or until others are chosen and qualified in their stead: Messts. Edward F. Beale, George 0. Carpenter, Evans McCarty, William N. Taylor and John R. Wettstein. The meeting then proceeded to fill the office of President of the Company for the ensuing year. Pursuant to nomination duly made and to vote duly taken Mr. Edward J. Cornish was unanimously elected President of the Company for the ensuing year and until his successor shall be elected and qualified. Mr. Carpenter thereupon vacated the Chair in favor of Mr. Cornish. The meeting thereupon proceeded to the election of three Vice Presidents of the Company for the ensuing year. Pursuant to nominations duly made and to vote duly taken Messrs. George 0. Carpenter, Norris B. Gregg and Edward F. Beale were unanimously elected Vice Presidents of the Company for the ensuing year and until their repsective successors shall be elected and qualified. 0000-NLI-000021760