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New Albany Box & Basket Company

Board of Directors Minutes

October 5, 2002

The following information was recorded from the record books of Shareholder Meeting Minutes and Board of Directors Minutes books from December 7, 1893 (first meeting) until December 6, 1943.  The following is just of summary of some of the information and only contains information, which was pertinent to the history of the company. Shares of stock listed below are from the Corporation Stock Register.

Heath Morris Co.

1st Stockholders Meeting - to establish the company, December 7, 1893

Directors:                                             Shares

Ira. G. Strunk                                40

Jno J. Miller                                 10

W. R. Heath                                240

W. F. Morris                                210

           500

Director’s fee for attendance $2.00

            Salary

Ira. G. Strunk

Jno J. Miller            Secretary & Treasurer        $1000/yr

W. R. Heath            President                          $1500/yr

W. F. Morris            Vice President                   $1500/yr

Directors meeting July 30, 1894

A branch office was opened in Cincinnati, Ohio

F. F. Myers employed to run office, also required to buy stock, purchased 40 shares of stock from Wm. Heath 

Annual meeting 12/20/1894                                          Salary               Shares 

I. G. Strunk                                                                                40

Imo J. Miller            Secretary & Treasurer           $1000/yr            10

W. R. Heath            President                             $1500/yr          200

W. F. Morris            Vice President                      $1500/yr          210

Frank F. Myers                                                                            40

                  500       

Annual Meeting 12/18/1895

I. G. Strunk

Imo J. Miller              Secretary & Treasurer

W. R. Heath                          

W. F. Morris              Vice President         

Frank F. Myers           President         won by a 3 to 2 vote    

Annual meeting 12/16/1896

Directors                                                                         Shares

Imo J. Miller                  Secretary & Treasurer                10

W. R. Heath                                                                178

W. F. Morris                    Vice President                       302 (91 held temp.)

Frank F. Myers            President                                     10 

Total       500     

There was a fight over issues of Strunk being a director of the company since he had sold his shares in the company on 12/2/1896. Frank Myers has also sold the majority of his stock on 12/2/96. Wm. Morris obtained these shares and there was a reference to litigation over the stock of Strunk and Myers sold on 12/2/96.  Wm Heath apparently sided with Myers and Strunk over control and was bought out.

Directors Meeting            1/30/1897       

Charles Schwartzel, F. H. Keller and Louise Blemker purchased stock in the company from the shares sold by Myers, Strunk and Heath.   

Stockholders meeting 2/1/1897

Directors:                                                                     Salary               Shares

Charles Schwartzel         President                       $    600/yr         135

F. H. Keller                                                                                  11 (1 Share 9/7/97)

W. F. Morris                  Vice President                 $1,200/yr          210     

Imo J. Miller                  Secretary& Treas.            $1,080/yr           37 (27 Shares4/27/97)

Louise Blemker              Owner but not a director                           57

Stockholders meeting 4/28/1897

Frank N. Morey was elected a director - Manager of Factory                      50

            Total                   500                 

Stockholders meeting 8/28/1897

12% Dividend 

Annual meeting 12/15/1897

Directors                                                                    Salary               Shares

Charles Schwartzel         President                      $   750/yr         135

W. F. Morris                  Secretary & Treasurer     $1,500/yr         247

F. N. Morey                   Vice President                $1,500/yr          50

Margaret Schwartzel       Owner                                                  68

Total          500     

Directors Meeting 1/31/1898

Dividend of $2000

Decided to change the name to the New Albany Box & Basket Company

July 4, 1898 William Morris sold 27 shares of stock to Charles Schwartzel and Frank Morey.

Annual Meeting 12/21/1898 - New Albany Box & Basket Company

Directors                                                                             Salary               Shares

Charles Schwartzel        President                                 $750/yr           152

W. F. Morris                  Secretary & Treasurer              $1,500/yr         220

F. N. Morey                   Vice President                         $1,500/yr          60  

Margaret Schwartzel       Owner/non-director                                        68

        Total                     500                 

Directors Meeting            4/28/1899

F. N. Morey sold his stock to Charles Schwartzel and W. F. Morris               

No records of meeting until 6/23/1902

Directors Meeting 6/23/1902

Directors

Charles Schwartzel                    250 Shares

W. F. Morris                             250 Shares

James N. Conner elected a director

Charles Schwartzel resigned and wanted to sell his stock

James N. Conner named President

Stockholders Meeting 8/6/1902

Charles Schwartzel bought out the remaining stockholders

Owners

Charles Schwartzel

John Cullen?

(Ownership and number of shares owned and by whom could not be found)

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

John T. Cullen                   Vice President

Directors Meeting 10/10/1903

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

John T. Cullen                   Vice President

F. H. Keller

Edward Hannon

Dividend of $3500 declared 

1906 Dividend            $6000

1907 Dividend            $10000

End of Book One

Stockholders meeting 12/16/1908

Present

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Frank Schwartzel

John T. Cullen                  Vice President

F. H. Keller

Edward Hannon

Margaret Cullen

Elizabeth Cullen

Lula Blenker

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

John T. Cullen                  Vice President

F. H. Keller

Edward Hannon

Stockholders Meeting 2/4/1909

Company reorganized with new by-laws

Directors Meeting 11/29/1909

Dividend $10,000

Stockholders Meeting 12/2/1910

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

John T. Cullen   

Edward Hannon                Manager of Louisville Branch Factory

Frank Schwartzel             Vice President

Dividend            $10,000

Stockholders Meeting 10/24/1911

Directors:

Charles Schwartzel          President

Joseph Schwartzel          Secretary & Treasures

Edward Hannon               Manager of Louisville Branch Factory

Dividend $10,000

Stockholder Meeting            8/9/1912

Directors:

Charles Schwartzel           President

Joseph Schwartzel           Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

Dividend $10,000

Directors Meeting 12/16/1912

Dividend $10,000

Directors Meeting 9/24/1914

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Dividend $10,000

Directors Meeting            12/1/1914

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Directors Meeting 4/27/1915

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Directors Meeting 10/14/1915

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Profits:                                     $27,885

Dividend:                                  $20,000

Directors Meeting 10/4/1916

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Profits:                                     $24,902

Dividend:                                  $20,000

Directors Meeting 9/18/1917

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Paid off loan from shareholders $25,000

Dividend:                                $15,000

Sprinklers installed for $8763

Shareholders Meeting 11/14/1918

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walter

Directors Meeting 11/14/1918

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Dividend:                                   $20,000

Directors Meeting 8/1/1919

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Dividend:                                 $15,000

Purchased:                                1591.5 acres at $28.00/acre     

Directors Meeting 11/14/1919

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters

Shareholders Meeting 11/14/1919

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

George Walters  

Purchased:                                 Liberty & Victory Bonds, War Savings Bonds

Profits :                                     $31,511

Directors Meeting 3/29/1920

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon            Manager of Louisville Branch Factory

George Walters

                   Purchased 1350 acres - Tiger Tail branch, Dyer Co., Tenn. - $20.00/acre land next to the Burgie Tract

         Salaries set at:

    Charles Schwartzel       $26,000

    Joe Schwartzel            $18,000

    Ed Hannon                   $  3,300

    George Walters            $  3,300

    Isadore Marguet            $ 1,080

Directors Meeting 6/28/1920

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

George Walters resigned and sold his stock

Directors Meeting/shareholders meeting 6/6/1921

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Dividend $50,000

Directors Meeting 12/6/1921

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

A timber deal was formed with the Meugel Box Co. of Louisville, Ky. with the new venture to be called the Island Logging Co.

Directors Meeting 2/13/1922

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Dividend:                                  $25,000

 

Directors Meeting 10/30/1922

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Shareholders meeting 10/30/1922

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Directors meeting 7/2/1923

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Dividend:                                 $25000

Directors meeting 11/26/1922

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Directors meeting 6/6/1924

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Discussed fire on Jan. 30, 1924 which destroyed warehouses 4 &5, water damage to warehouses 2 & 3

 

Dividend:                                $25000

Directors meeting 2/2/1925

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Discussed a fire on 6/8/1924 which destroyed the Drying Sheds

Purchased:                                504 acres near Miston, Tenn. for $17500

Dividend:                                 $25,000

Directors meeting 1/12/1926

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Sold all the Hickory standing on the Burgie & Boatsman timberland for $4500, noted as a big price for the timber sold

          A federal tax problem was settled for $11,000 in back taxes for 1917 through 1924

Dividend:                                    $25,000

 Directors meeting 1/14/1927

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Business off a bit

Dividend:                                 $25000

Directors meeting 11/9/1927

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Discussed additions to the factory as more floor space was needed

Directors meeting 1/24/1928

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Dividend $25000

Directors meeting 1/30/1929

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Discussed the very long time it took for the addition to the factory to be completed and the slow delivery of machinery and that all machinery was still not operational.  Without the addition to the factory they could not have taken a lattice basket order from Cincinnati and that it was well to have the order as business was very slow in fact lattice baskets they were making was a larger percent of all goods being sold during the past several months.

Also discussed an addition to the dry kiln in making it three stories.  The dry kiln was in bad condition having been poorly constructed when built.  This resulted in much higher cost for improvements

Profits for the year was very low due to prices being low and competition was keen due to so many new factories being built through out the country.  Expect that profits will be smaller in the coming years.

Dividend $25,000

 

Discussed selling 1161.5 acres of Tennessee timberland for $100,000. If the sale went though they would still have 909 acres in Tennessee, which they would like to sell for $60,000.

 

They discussed making an extension to the office and warehouse.

Directors meeting 7/5/1929

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

 

Meeting to approve the sale of 1161.5 acres in Tennessee.

Directors meeting 1/7/1930

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Profits were low and the dividend was reduced to $20,000

Directors meeting 7/11/1930

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Sales were down as compared to one year ago due to bad growing season.

Stockholders and Directors meeting 1/292/1931

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

All owners represented by the four directors

 

Lost $7800 from the basket business, business in general was bad.

No dividend paid

Directors meeting 11/13/1931

Directors:

Charles Schwartzel            President

Joseph Schwartzel            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Directors meeting 10/8/1932

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

The year was fair but the demand was down and there was a need to cut expenses as much as possible.

Directors meeting 4/26/1933

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

The demand for bushel baskets was down and market baskets.

Directors meeting 4/18/1934

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon            Manager of Louisville Branch Factory

John Cullen

Business outlook was not very promising.

 

Stockholders and Directors meeting 10/1/1935

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

It was agreed to purchase the machinery of the English Basket & Container Company but not to purchase the company or its buildings.

It was agreed to transfer 3000 shares of stock in the Standard Oil Company of Kentucky which was in the Name of the New Albany Box & Basket Company but which belonged to the estate of Charles Schwartzel. The shares were transferred as follows:

Catherine Schwartzel             1500

Margaret Moser                        250

Anna Marie Osborne                  250

Helen Schmitt                          250

Charles P. Marguet                   250

Joseph A Marguet                     250

Audrey Marguet                        250

 

 Dividend: $25,000

Directors meeting 12/19/1938

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Profits:                                     $7,000

Dividend:                                 $10,000

Stockholders and Directors meeting 10/21/1939

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph Marguet

Profits:                                     $18,000

Dividend:                                  $30,000

Stockholders and Directors meeting 10/26/1940

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph Marguet

          Profits:                                    $12,000

Dividend:                                 $12,000

Stockholders and Directors meeting 11/1/1941

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph A. Marguet            Vice President

Shareholders Represented by:

Joseph Schwartzel           175 shares as per proxy

Joseph Marguet                 19

Ed Hannon                        28

Charles P Marguet             20

Charles P. Marguet          246 shares by proxy

Total                    488                 

Profits:                                   $24,000

Dividend:                                $15,000

Stockholders and Directors meeting 10/31/1942

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                 Manager of Louisville Branch Factory

John Cullen

Joseph A. Marguet            Vice President

Profits:                                     $35,000

Dividend:                                  $35,000 less federal taxes

Directors meeting 4/14/1943

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph A. Marguet            Vice President

Sold 479 acres and 430 acres $86,000

Stockholders and Directors meeting 10/23/1943

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Profits were good; all profits less federal tax went to dividends

Joseph A. Marguet            Vice President

Stockholders and Directors meeting 12/6/1943

Directors:

Joseph Schwartzel            President

Charles P. Marguet            Secretary & Treasures

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph A. Marguet            Vice President

Company was reorganized as follows:

Directors:

Charles P. Marguet            President

Edward Hannon                Manager of Louisville Branch Factory

John Cullen

Joseph A. Marguet            Secretary & Treasures Vice-President

Margaret Moser

Joseph Schwartzel resigned