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2/39 p.2
RESOLVED, that the resolution entitled "RECULAR ° BANK ACCOUNTS", adopted’ at a meeting
of the Board of Directors of January
5, 1936, be amended so that the signature
of Denn ° qd and enforeible when affixed to any instrument described in thst resolution, as though it
were the signature of 4 vice-president,
and that the designation of Dennis F. O’Brien as a proper signatory to such instruments
is made consonant with Article VI. Section
1, of the By-Laws, and that Dennis F. O'Brien be empowered to affix his signature validly > to such instruments from Mey 1, 1939yto May
15, 1939 inclusive.
2. The Treasurer reported that the Chase National Bank hed sold for the United Artists Corporetion R.M. 22,763.24 at “ 5.96 cents and that this disposes of the German Marks belongirg to the United Artists Corporetion and Reliance Pictures, Inc. The Treasurer also reported that this was done with the approval of Reliance Pictures, Inc.
=. The Treasurer reported that all changes in the aa Directorates of the Continentel European subsidisries, «pproved by the Board of this compeny on October 7, 1938, had been duly made, ené-in addition in 7
Belgium Mr. L. Lewis was elected as an additional director
and in Czechoslovakia Mr. L. Lewis was elected instead of Mr. L. Kastner (the approval of October 7th ey covered Kastner end not Lewis). ; He also reported that United Artists Export has on file undated : letters of resignation from all the local directors.
4. Argentine aoe on ee At the Directors’ meeting held December ‘ & resolution was adopted which provided for the withholding from producers an amount equivalent to the
estimeted Argentine Surcharge claim and that 912 such withholdings be put in 2 special -benk account.
instructions were given to Argentine to make withholdings and to deposit in the special bank account, but Price, Waterhouse, in its report on the audit of the accounts as at December 31, 1938, states that such entries should never have been sét up in the branch books . as they might imply an acceptance of the Exchenge Board's interpretetion.
It wes the unanimous opinion of all present that the special benk eccount in the Argentine be closed end that we discontinue withholcings in the Argentine, and in place thereof, make the
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