Tobacco Documents Online

28 June~ 19'~,. 1940 A regmlaa-meeting of' the Board of Directors of P., Lorillard Com- pany xass held today at the office of the Company, 119 West 40th Street, New York City. J.. 5.. FYeeman J. A. Glascock Buford Scott Todd.Wooli On motion duIDy made and seconded, the meeting adjourned. Secretary en motion duIly made and seconded, the reading of the minutes of. the previous meeting was dispensed w3.th.. unanimously There were present Messrs.: G. H. Hummel G. D. Whitefield E'. S. Bowling H. A. Kent On motion of'Mr. Kent„ seconded by Mr. Whitefield, it was RESOLVED: That the Transfer Books of'the Registered.Fi¢e Per Cent Bonds of this Company shall be closed at three o"clock P.M.. July 15, 1940, for the payment of interest thereon, due August 1,, 1940,: and shall be reopened at ten o'clock A.M. August 2„ 1940. On motion of Mr. Kent,, seconded by Mr. Freeman, the following ad- vertising,expendi!ture was in all respects approved, ratified, and confirmeds Contract dated June 7, 1940 ccovering adh.ertising of UNION LEADER Tobacco in the News section.of'the Trade Union Courier, New York eity,, from July l through, December 31„ 1940, at a cost of $8.33'for each advertisement. On motion of Mr. Freeman, seconded by Mr. Kent, it was unanimously RESOLVED: That the Company contribute the sum of One Hundred Dollars (4100) to the Jersey City, N.J., Chapter of' the American Red Cross. On motion of' 1lr.. Scott,, seconded by Mr. YPhiLtefieldi,, it was unanimously RESOLVED: That the Company contribute the sum of Txo Hundred Dollars ($200) to the R3ic.hmond, Va. Chapter of the American Red'Cross. It was brought to the attention of the meeting, that Internal Revenue Tax rates on tol3aoco products'may belchanged and that such action might ne- cessitate changes in packages and selling prices of tobacco; products manufac.- tured by the Company. After discussion, on.motiion of Mr. Scottr seconded.by Mr.Freeman,, it was unanimously RESOLVED: That the Officers of the Cbmpany are hereby autho- rized;to take such action as they deem-proper at any time.to:make changes in. packages and selling prices: tobacco products manufactured by this Company. 88111811