The Western news. [volume] (Libby, Mont.) 1933-current, 1939-04-20

III may -
and held al the office OF the COM
pany in Chicago, Illinois, or Detroit,
Michigan al such place as may be
designated BY the Board of Direc-
tiers. and such special meetings may
be called at any time by the Presl-
dent or bY any three members of
the Board or may be held at any
time and place without notice by
unanimous written consent of all
the members of the Board or by the
presence of all members of the
Board al such meeting. In case the
meetings of the Board of Directors
shall be held al the office of the
company in Chicago. Illinois. or else
where outside of the state of Mon
tana either the original or full and
proceedings had al any such meet
ng or meetings. certified by the
President and Secretary under seal,
shall be sent and kept at the prin-
eipal office or place of business of
the company in Montana. and shall
be part of the records in Montana.
B. To take action on the approval
or disapproval of an agreement duly
ratified and approved by resolution
of the Board of Directors duly
adopted by such board on the goth
day of March. 1889. which agree
ment is described as follows:
An agreement in writing. dated
the goth day of March, 1899. ex-
ecuted by the proper officers of the
respective corporations IN behalf of
such corporations. and ratified and
by the Board of Directors
of this company. subject to ap-
proval and adoption by the stock
holders of this company for the sale
by Universal Insulation Company
an Illinois corporation, as vendor TO
The Zonolite Company, Montana
corporation, as vendee, of all cor
porate property, rights and credits
OF the vendor corporation, including
its real estate, mining claims-pat-
ented and not patented-both lode
and placer. in and near Libby, Mon
tana. described generally as follows:
Lots 2. 3, 8, IN section 30, block
or township 81. range 80, acres l03
talong Great Northern frontage
miles east ofLibby and purchased
as terminal of an aerial tram line). j
land in lot and N. w. As. E. 4
Less Right of Way in section 3,
block or township 30, range 81,
acres 8l2 Tin Libby proper, and
placer mining claim-patented =
Vermiculite No 4 in Rainy creek,
unorganized, Mining District, Lin
coin County, Montana; placer min
ing clalms-not patented-being
Vermiculite Nos. 2, 3, 5 and 6, re-
corded in the office of the County
Clerk and Recorder for Lincoln
County, Montana, in Book II of
Placer Locations, at pages 88, 90,
81 and 81, respectively; % lode min
ing clalms-not Observation-Disclosures
in the office of the County Clerk
and Recorder for Lincoln County,
in Quartz Locations Book
10 at pages 2l3 209, 249, Isl. 253,
Els, 1913, 203, 205, 217, Eat, 229, 231,
1873 and 207 and in Quartz Loca-
tons Book 43 at pages 463, 462, 472,
1859, 464, 456, 465 and All, frame stor-
age building, timber bin storage and
frame dwelling on said lot 5. 4
frame cabins; 2 log cabins; frame
mill building; frame machine shop
on said placer claim number 4; mum
arous articles Of mining equipment:
power plant installation and all
equipment, machine shop building
and equipment: tram and equip
nent; steel mill and all tools and
equipment, number of patents /
covering composition production and
expanding of Vermiculite, insula-
ion, process of treating Vermicu-
lite, apparatus for expanding Yer /
manufacture of Vermic- |
llite bonded material, ore treat |
nents, plaster and other processes;
trademarks; the building lease of
the Chicago plant at 2601 West
10Th Street with option to pur-
'hase, and all tools, machinery,
equipment and furniture therein;
number of prepaid insurance poll
les; credits, MISUNDERSTANDING all
If the property, rights and credits
If the vendor corporation except
patents No. l898774 and No. 1898830 /
'elating to sLamisilite," and except
ng vendor corporations Silver /
lake" business and its right, title
md interest in and to mining claims
md equipment in and near Pony,
Montana, and certain equipment /
purchased for the treatment of
'Silverflake' ore at Libby, Nom
ana, and at Chicago, Illinois, and
quantity of such "Sil-
'erflake" ore, and which sale is
ublect to debts, duties, liabilities
nd obligations of the vendor cor
namely: current accounts
incurred within thirty 500 days pre-
eding the date of transfer and an
unpaid balance due to Otto A. La
us under contract between him
nd the vendor corporation made
n 1888 and modified August T, 1887,
he purchase price to be paid by
he vendee, The Zonolite Company,
0 the vendor corporation, as nearly
S can now be determined is 318.584
hares of the common capital stock
1 this vendee corporation.
Further material provisions of
UGH contract are:
That the name of The Zonolite h
company be changed to Universal
onolite Insulation Co.; that it es-
ablish principal office for the