Tobacco Documents Online

2 7 4 February 23, 1944 A regular meeting of the Executive Committee of P. LoriLlard Company was held today at the office of the Company, 119'Tdest 40th Street, New York City.. There were present Messrs.: G. H. Hummel H. A. Kent G. D. ;ahitefield' E. S. Bowling W. J. Halley J. S. Freeman F. Hopewell Toddl Plool Mr. Hummel, Chairman, presided, and the Secretary acted a.s Secretary of the meeting. On motion.dul,y made and seconded, the reading,of the minutes of thee previous meeting was dispensed with. On motion of Mr. Whitefield, seconded by Mr. Bowling, it was unanimous ly RESOLVED: That the~ actimof' the president and the Treasurer of this Company in borrowing, oaFebruary 18, 1944, onibehalf' of' this Company from The New York Trust Company, 100'Broadway, ]New York City, N. Y., the sum of' One Mi ! iom Dollars ($;1„O00,000) and'l in executing and'i delivering in the name of'this Companyits promissory note evidencing said debt,, bearing,said' date and payable at said bank ninety (90)' days from said d'ate, with interest at the rate of 12% per annum from said date,; be amd'the same hereby is in all respects approved,, ratifiied,, and confirmed. On motion of Mr. H'opewel'.l,, seconded' by Mr. Bowling, it was unanimously RESOLVED: That the increase in salary of Ar. R. W. Young,,from the rate of A3',536'per annum, to the rate of !t'4,000 per annum, effective February 1, 1944, due to promotion to Assistant Export Manager,, be and the same hereby is in all respects approved,, ratified,, and confirmed'., on motion of' Mr. Hopewell, seconded by Mr. Halley, it was unanimously RESOLVED': That the adjustment in salary of Thomas Malerba Adamo, Salesman, from the rate of $33'per week, to the rate of'105 per week, effective February 7, 1944,, in accordance with labor agreement between this Company and 1holesale Candy & Tobacco Salesmen's Union, be and the same hereby is in all respects approved, ratified,, andconfirmed. On motion of' Mr. Hopewell~:, seconded' by Mr. Whitefield, the following advertising expenditures were in lrespects approved',, ratified, and con- f'irmedx . Contract dated February 9,, 1944 with Circus Ptxblishing Compamy,, 1Vevr:York City, covering advertising of Company products in the Official Magazine and Digest of Ringling Brothers, Barnum and' Bailey Circus„ during, the 1944 season,, at a cost of $2, 000. Estimatesof J. Walter Thompson Company as follows: #176dated!February 11, 1944 for additional expenditure of $700 entailed in broadcasting,the Bob Crosby Show, sponsored by OLD GOLD Cigarettes, from ses7s3ia

the El Toro Marine Base on February 27, 1944. ff177 dated February 11, 1944 covering adverti.~ing of OLD GOLD Cigarettes in the Chicago Tribune, at a cost of !t,5y396. The Secretary laid' before the meeting contract with Dun & Bradstreet Inc. for its business service as tiiereinset out, for tne term of one year beginning Karch 1,, 1944, at an aggregate cost of $5,435, which On motion; of' Mr. ilalley,, seconded by Mr. Freem:.n,, was in all respects approved, ratified, andconflrmed!. On motion of' Mr. Kent, seconded by Mr. Halley,, it was unanimously RESOLVED: That this Company contribute to the American Red Cross the sum of Twelve Thousand! Dollars (9.k12,000) to be allocated between the New York Office of this Company and its various branches. On motion duly made and seconded, the meeting adjourned. ,~~+c. ~~I~~' Secretary