Tobacco Documents Online

July 7, 1943 ?13' A regular meeting of' the Executive Committee of P. Lorillard Company was held today at the office of' the Cbmpany,, 119 West 40th Street, I3ew, York City. There were present Miessrs, : H. A. Kent. G. D. Whitefield E. S. Bowling W., J. Halley F. Hopewell J. T. Keel H. F. Temple Todd Wool In the absence of Mr. Hummel, Chairman,, Mr. Kent, 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. Hbpewell, seconded by Mr. Bowling, it was unanimousl';y RESOLVED: That the action of'the President and the Treasurer of'this Company in renewing, on July 6, 1943, on behalf of this Company, theloanmade,Apri.l 5, 1943, from the Chemical Bank and Trust Company, 165 Broadway, New York City, ini the sum of One Million Dollars ($1,000,-000)' and in executing and' delivering in the name of'this Company its promissory note evideneing,said, debt, bea.ring date of' JiLIy6, 191+,3',, and payableatsaid bankn3netfiy (~90) days fram said, date, with interest at the rate of 1-21%per annum from said date, be and the same hereby is in all respects approved'a, ratified, and confirmed. On motion of' Mr. Keel,, seconded by Mr. Whitefield, it was unsnimously RESOLVED: That the action of the President andr the Treasurer of' this Company in renewing on Tul,y 6: 1943'y on bel2a:lf' of' this Company.. the loan mad'e April 6,. 1943, from the Nstionah City Bank of' New York, 55 Wall Street, New York City, in the sum.of Five Hundred Thousand'Dollars ($500,000), and in executing and deAiver- ing in the name of'this Company its promissory note evidencing said debt, bearing date of' July 6, 1943, and payable at said bank ninety (90) days from sai~:d date,, with interest at the rate of 1~1%,per annum from said date, be and the same hereby is in all respects approued,, ratified', and confirmed!. On motion,of Mr. Halley, seconded by Ur. Hopewell, the following advertising expenditures were in all respects approved, ratified, and confirmed: Estimate #L28' Supplement H, of' J. Walter Thompson Company dated June 30, 191+3„ for estimated production cost of $46,000 on OLD GOT,D Cigarette newspaper advertising covered by Estimate #128 and Supplements A throu&G, January 11 through July 10!,, 1943. Contract dated June 11r 1943 for advertisement in the Year Book of the Wholesale C&nctr & Toba.cco Salesmen's Union, at a cost of $100. On motion duly made and'seconded, the meeting adjjourned. r""'+ lozf4 Secretary