Tobacco Documents Online

~`-?'4! October 21, 1942 Aregular meeting of the Executive Committee of P. Lorillard Company was held' tod'ay at the office of' the Company, 119 West 40th Street, New York City. There were present Messrs.: G. H'. Hummel Hi. A. Kent E. S. Bowling d. T. Driscoll W. J. Halley di. S. Freeman F. Hopewell Toad itiool On motion duly made and seconded, the reading of the kinute s of' the previ'ous meeting was dispensed with. On motion of Mr. Freeman, seconded by Mr. Bowlino, it wass unanimously RESOLVED: That the action of the President and the Treasurer of' this Company in borrowing„ on tlotober 15,, 1942a on behalf of this Company from the Guaranty Trust Company, 140 Broadway, New York, New York, the sum of One Million Dollars ($11,000,,000)', and in executing and delivering in the name of this Company its promissory note evidencing said debt,, bearing, said date and payable at said bamk rinety (90), days from said date, with interest at the rate of'l-fl% per annum from said date, be and the same hereby is in all respects approved, ratified, and confirmed. On motion of Mr. Hopewell, seconded'by Mr. Kent, it was unanimously RESOLVED: That the action of'the President and the Treasurer of' this Company in borrow3.ng,, on October 19, 19/.,2s, =behalf' of this Company from The New Xork Trust Company„ 100 Broadway, 1Vew Y'ork, New Xork,, the sum of' One Million Dollars ($1,000,000)', and in executing and delivering in the name of this Company its promissory note evidencing said debt, bearing saidd date and payable at said bankiinety-one (91) days from said date, with interest at the rate of 1-,'~% per annum from saidid'ate, be and the same hereby is in all respects approved, ratified, and confirmed.. Un motion of tir. Hopewell, seconded by Wir. Bowling, it was unanimuuslyr RESOLVED: That the action of the Yresident and the Treasurer of this Company in borrowing, on Uctober 20, 19'L,:2', on behalf of this Company from the National City Bank of New York, 55 Wall Street, New York, New York,, the sum of'One Million Dollars ($1,000,000') and in executing and delivering in the name of this Company its promissory note evidencing,said debt,, bearing, said date and paTable at said bank four (h)' months from said date, with interest at the rate of 1-~j% per annum from said date, be and the same hereby is in alll respects approved, ratified, and confirmed. Un motion of Mr. Hopewell, seconded by Mr. Bowling, it was unanimously Rr,,SC;LVEDz That the action of the President and the Treasurer of this Company in borrowing, on October 21, 19/+2,, on behalf' of' this Company from the Guaranty Trust Company, 140 BroadWay, New York, New York, the sum of Three Million Dollars ($3,,000,000) and in executing and delivering in the name of'this t%ompany its promissory note evidenc3ng said debt, bearing,said date and payable at" said' bank ninety (90) days from said date, with interest at the rate of 11% per annam from said date, be and the same hereby Is in all respectsw approvred, ratified!, and confirmed. b867616a

19-_? On motion of rfir.,Hopewelil, seconded by Mr. Freeman, it was unanimuusly RESc.7LiTED: That the following empl~:oyments of salesmen, as listed below, with the authorization of the Sales Dept. and the approval of G.D. Whitefield, Executive Vice-Presid'ent and'W.J. Halley, Vice-President, be and the same hereby are in all respects approved!„ ratified, and confirmed: At the rate of r Eff'ective r Derald Jacob Eshelman $25 per week lU/i9/4:2 Clinton LeShore nand' 25 "' " "' Roy Frederic Sa.atman 28 n rt Ir. un motion of Mr. Freeman, seconded by Mr. Bowlino,, it was unanimously RESOLVED: That the fo llocving, increases in salary of' salesmen, all of them being by virtue of the estabTiished wage agreements and in operation of an established plan of' wage increases based upon length of" service,, be and the same hereby are in all respects approved',, ratified',, and confirmedl:, From the rate of : '1'o the rate of ; Effective : Leo Josep h Moulin $23' per week $25 per week 10/ab/42 Cecil Cooper Perry 23' °t "' 25 n n ~, Ray Thomas Biggerstaff 23'n n 25 n n n Billie Snider 23' " n 25 n n n Michael Joseph Carfagno 28' n n 30 n n ~~ on motion of' Mr. Freeman, seconded by fl9.r., Hopewell, it was unanimously RESOLVED: That the following employments at the Old Gold Branch be and' the same hereby are in all respects approved!, ratified, andi confirmed: At the rate of': Effective: William J. Garveyr 9300 per month 10/i9/L,2. Kenneth E. borton 50 per week n On motion of'Mr. Hopewell, seconded by Mr. Freeman, it was unanimously RESOLVED: That the increase inirate of pay of ' the following, employees, due to promotions,, be and the same hereby are in all respects approved, ratified,, amd' conf irmed:. th t f t T th f Effe ti Whitlock Branch Mrs. Josephine E. Moore, Asst. Forelady From e ra e o : 50¢'per hour e ra o e o : $30 per week c ve: 10/Y2/42'. Francis A. Read'y, Foreman $38 per week $40 per week 10/Y9/Lt2'. Thomas H. Fletcher,,Asst.F.oreman $32.50 per week $35' n n „ Charles H. Gantt Jr., Asst. Fore- man 60¢ per hour $30 Un motion of Mr. Hopewell, seconded by Mr. BoR]liing,, the folloYing, ad1asr- tising,expenditures were in all respects approved, ratified, andiconfirmed': Contract dated October 1, 1942 with S.B. Simon ][nc-., Boston, Nlass., covering OLD GOLD Cigarette advertising,in the Garden-Arena Sports News covering all spoPts events held at the Boston Kadison Square Garden during the 1942-43 seasonr at a cost of' $200.. Estimate #95 of J, Walter Thompson Company dated September 24, 1942 coQering, play-by -play broadcasts of baseball games played by the Brooklyn National League Team, during the 1943 season, sponsored by OLD GOLD Ci!garettes, at a cost of' $276, 66'T .82 . 68s7si61,

Estimate #96 of J. Walter Thompson Company dated' uctolier 9', 19L;2' covering, OLD OOLD Cigarette advertisi'ng, in the October 28, 1942 ' iissue of The Finan- cial World, at a cost of $?.25. On motion duly made and seconded, the meeting adjpurned'. C -11")~1~"L l~~ Secretary