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April 22, 1943 191 Anadjourned'meeting of the Executive Committee of P'. Lorillard Company was held' today at the off ice of' the Companyr,, 119 W'est 40th Street,, New York City, at 11 o''clock A.M. There were present Messrs.: G. D. Whitefield. l;. J. Halley J. S. Freeman F. Hopewell Todd Wool In the absence of Mr. IHummel and Ir. Aent, Mr. u. D. Whitefield, Executive Vice- President, presided, and the Secretary acted as Secretarj 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. Hopewell, seconded by Mr. Freeman, it was unanimously RESOLVED: That the action of the President and' the Treasurer of'this Company in renewing on April 15, 1943, on behalf'of'this Company, the loan made January 15,. 1943, from the Chemical Bank and Trust Company, 165 Broadway, New York City, in the sum of One Million Dollars ($1,000,000),, and in executing and deLiveringin the name of thls°/mpYromissory note evidencing said debt, bearing date of April 15, 1943, and payabl~ at said'bank ninety (90) days from said date, with interest at the rate of 12% per annum from said date, be and' the same hereby is in all respects approved,, rgtified, and confirmed. On motion of' Mr. Hopewell, seconded by Mr. Freeman, it was unanimously RESOLVED: That the action of the President and the Treasurer of this Company in renewing on April 19, 1943, on behalf of'this Company, the loan made January 18, 1943, from the National City_. Bank of New York, 55 Wall Street, New York City,, in the sum of Two Million Dollars (,$2,000,000)', and in executing,and delivering,in the name of this Company its promissory note evidencing said debt, bearing,dGte of'April 19, 1943, and payable at saiid bank ninety-one (91) days from said date, with interest at the rate of 11% per annum from said date, be and the same hereby is in all respects approved,, ratified, and confirmed. On motion of tutr. Freeman,, seconded by Mr. Hopewell, it was unanimously RESOLVED: That the action of the President and the Treasurer of this Company in renewing on April 19, 1943, on behalf of'this Company, the loan made January 18', 1943, fromiThe New York Trust Company, 100 Broadway, New York City, in the sum of One!Mi'llionDohlars($1„000,000),and in executing and delivering in the nameof' thisCompa.ny its'promissory note evidencing said debt, bearing date of'A'pril 19, 1943, anc payable at said bank ninety-one (91) days from said date,, with interest at the rate of'l~~ per annum~from said date, be and the same hereby is in all respects approved, ratif ied!, andiconfirmed. Onimotion of Mr. Freeman, seconded'by Mr. Hopewell, it was unanimously RESOLVED: That the action of the President andithe Treasurer of'this Company in renewing on,April 191, 1943, on behalf of this Company, the loan made January 19, 1943, from the Guaranty Trust Company of New York, 140' Broad!way,, New York City, in the sum of'Three Million Dollars ($3,000,000), and!in executing and delivering inn the name of' this Company its promissory note evidencing said debt, bearing date of April 19, 1943', and W'yable at said bank ninety-one (91) days from said date, with interest at the rate of'1-gl%per annum from said date,, be and the same hereby is in all respects approved, ratified, and confirmed. 6867623$

192 On motion of Ur. Halley,: seconded by Mr. Hopewell,: it was unanimously RESOLVED: That the fol:lowing,employments of salesmen, as listed' below, with the authorization of the Sales Dept. and the approval of G.D. Un:itefield, Executive Vice-President and W.J. Halley, Vice-President, be and tne same hereby are in all respects:approved, ratified', and'confirmed: At the rate of: Effective: John Nelson Barrett $2:5perweek 4/19/43 Ernest Lee Simmons 251 n u n Bernard!Francis Vandevel~:de 25 n rr n Eskay Benjamin Palmer 25 n n n On motion of Mr. Ha]~.ley,, seconded by Mr. Hopewell, the following adver- tising expenditure was in: all respects approved, ratified, andconfirriled: Contract between this Company and Cole Brothers Circus,, evidencedby letters dated April 12, 1943 and April 19, 1943, for advertising OLD GOLD. Cigarettes and'BEECH-NUT Tobacco in all of'Cole Brothers circus programs for the 1943 season, at a cost of $200. On motion duly made and seconded, the meeting adjourned.. Secretary