Tobacco Documents Online

14G November 22,, 1943' regular An adjourned/meet ing, of' the Board of Directors of' P'. Lorillard Company was held today at the office of' the Company, 1i19' West 40th Street, New Fork City, at three o'clock P.M. There were present Messrs.: G. H. Hummel. H.A.Kent~ E. S. Bowling W. J. Halley Ji. S. Freeman F. Hopewell H. F. Temple Todd Wool Mr. Humme];, Chairman, presided,, and! the Secretary acted as Secretary of the meeting. On motion duly made and seconded', the reading of' the m3inutes of' the pre- vious,meeting was dispensed with. Onimotion of Mr. Bowling, seconded by Mr. Renty it was unenimously RESOLVED: That the dividend iaf $1.75 per share on the Preferred Stock of' this Compary, which would otherwise be payable on the first business dey in January, 1944, be and the same is hereby, by way of' anticipation,, declared and" made pagablle:onDecember17', 1943r tostockholdersofre~cordat thecioseofbusiness on December 3', 19!l,3. FQFtTHER RESOLVED: That a final dividend for the year 1943 of 45¢ per share on the outstandiing,CommomStock of'thi~,s Company be and the same iss hereby declared and'made payable on December 17, 1943, to stockholders of record attheclose ofbnusinessonDecember 3, 1943- FURTHER RESOLVED: That the proper Officers of the Company be and they hereby are authorized and directed to deliver, on or before the 16th day of December, 1943, the amount required to make pay?ment of the above dividends,, to wit, the sum of $1,182„506.85, to The bi~ew lork Trust Company, 100 Broadway, Bew York City, N. Y., which said sum in this manner is hereby irreQocably set aside for and allocated to the payment of said dividends and shall be used by said Trust Company for the payment of said dividends in accordance with the terms of this Resolution. FURTHER RESOLVED: TlpLt the aforesaid dividends an&each of' them, be charged against current earnings of the Company for the year 1943,, out of-and with respect to wh.ich they are intendied-to-be declared and paid, and that to the extent such earnings are not sufficient for that purpose they be charged against surplus ands undivided profits of the Company. On motion of M1r. lQent, .seconded by Mr. Temple,; the following adeertising expenditures were in all respects approved, ra;tified, and confirmed: Estimates of' J'. Walter Thompson Company as follows: #151 dated hovember 9„ 1943 covering advertising-of flLD -GQLD' Ciga.rettes during 1944 in Service Publl.3ications therein set out, at a cost of $28,072'.g6. #1522 dated November 8', 1943 coaering adwertising of OLD GOLD Cigarettes during 1944 in magazines therein set out,; at a cost of' $55i,4/,.8'.43. #150 Supplement A dated November 16, 1943'covering advertising of OLD GOLD' 88111981

Cigarettes in "Winged oictory"' issue of the Playbill, November 2]1, 1943, tthrough May 201, 194+44,, at a cost of $295.45. On motion duly made andiseconded„ the meeting, adj ourned'. 147 Secretary