Tobacco Documents Online

August 21, 19429 7 was held A regular meeting of'the Board of Directors of'P'. Loril!ard Company today at the office of' the Compacy;, 119' West 40th Street, New York City. There were present Messrs.:' H. A. Kent E. S'. Boxling VP. J. Halley J. S!. Freeman, F. Hopewell J. J. Driscoil J. T. Keel Bufcard Scott ToddlYYooi In the absence of Mr. Hnmmeh, Chairman, 1Kr. gent, President, presided and the Secretary acted as Secretary of the meeting.. On motion duly made and seconded!., the reading of the minutes of the previous meeting was dispensed with. On motion of Mr. Bowling„ seconded by lllr. Fteeman, it was unandmous]y RESOLVED: That a dividend of $1.75 per share on the PreferrediStock of this Company be and i't hereby is declared payable October 1, 19l.2, to stock- holders of record at the close of business September 15,,19J;2. On motion of Mr. Bowling, seconded by Mr. Hopewell, it was unanimous RESOLVED: That an interim dividend of 25'0 per share on the outstand- ing Common Stock of this Company be and it hereby is declared payable October 1, 1942, to'stockholders of record at the close of business September 15,,1942. On motion of Mr. Halley, seconded by Mr. Driecoll, it was unanimously RESOLVED: That the Transfer Books of the Registered Seven Per Cent Bonds of this Company shal:]l be closed at three o"clock P.M. September 15, 1942 for the payment of' interest thereon, due October 1i, 1942, and shall be, reopened at 10' 0'clock A.M. October 2, 1942'. On motion of`Bdr. Driscoll, seconded by Mr. Bowling, the following advertising expenditures were in all respects approved, ratified, and confirmed: Estimate No. 82-Supplement D of' J. Walter Thompson Company dated August 7, 1942, . covering newspaper advertising of'OLD GOLD Cigarettes during August and September, 1942,at aco~st of $275,075."«Estimate No. 36-B of Lennen &Mi.tchell I!IIc. dated August 10,, 1942 covering radio advertising of BEECH-NUT' Cigarettes over Station WHN, New York City, September 14 through December 11, 1942, at a cost of $1L;.,680.25. Estimate No. 8'5' of Ji. Walter Thompson Company dated' lugust 11,, 1942, covering play-by-play broadcast of' football games durirlg, the 1942 sseason, of the New York Giants, over Station WHN, New York City, September 27 through December 6y, 1942, at a cost of S33',7z7.50. 88111 896 Estimate No. 86 of' J', Walter Thompson Company disted~ August 13, 1942, covering, radio advertising of OLD GOLD Cigarettes over twelve stations in Chicago, Louis- vill e, St. , Loui s, , M'emphi s, Salt Lake Ci'ty„! and 1[ii3.wauk'ee,, at a costof $5,750. Contract dated August 14, 1942' with~ Davis Outdoor' Adv. Co., Detroit, Mich.,, for

9'8 fortyr-two additiona]l st,andard' size three sheet panels advertising BEECH-N1U'It' Chewing TSliacc% from September 1, 1942 through December 31, 1943, at a cost of $,2.25 per panel per monthy being a supplement to contract with said' Compatny dated April 22 and May 12, 1942'. Contract dated~July 2]l, 1942 with Navy Athletic Associ:ation of the United States Naval Academy for a quarter page advertisement of OLD GOLD Cigarettes in~the 1942 football program of the Naval Academy, at a cost of $200,, and aa similar advertisement in the program for the Army-Navy Game program at a cost of $200,, or a total cost of t400. On motion duly made and seconded, the meeting adjourned. Secretary