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“pon =e tion of Zr. Fermnypacier, éuir secomse an unantmousiy carries, at the weetines of tae Seard of Directors Belc Sta Jape 13945, a Specie: cocmetttes comeisting. of Messrs. csie, repad
end ‘filis wes epoointes by the Fresigent “to stud; beers question of T@ductio= of expenses sf tne Corperation anc to report te nines Seard as to the advissbility sf reducine expsnses their @eriiest convenfence.* :
she Solicwins is the Zesort oF the committee, with reco=2 wendations:>
“Tol” Competitive conditions zovermin= the terms for 2 eggs Te Sistrioution of thg, hizhest quality sreduct cre ed
SS preclude the’ probability of profitable wb cadlrcongy &
: unless cross income can be realizec st leve subdsten
3 Richer tnan pest UF anticisatedac averaces.
Belsnce Sheet veotition of the Corporation over
@ perio’ cf ly the pest three years has =e
..gonai stent ly srated, while during the sexe reriot
the cost ef both ae ana foreicn operation hes cons‘ stessiy increase<. =
Te= lopposetion’s total world-«eide expenses sre currently fuming at cae ce oe rate in excess of ; : (7,500,000. @8 commars*: with , SyP02, 00 e in 1344 and 2546595 299. in 1942, or edout gt greater within three :
= Committee realizes thet e portion of the *
aoe to caus {Sach es Labor Unton reguireSee nents} tm as Mnccmennta ecntrol, but it ts 1% ~~
Gefinite Bo pees that controllable expenacs sve ————— subject to adequate centralizeé supervision.