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[Hamilton Manufacturing Company meeting minutes, 1941-1947]


Co., Inc. He requested authorization by the board for the sale
of the property, and suggested that a minimum price of $47,000
be set. The president's verbal report relative to the Rahway
property was accepted and approved by unanimous vote of the
directors, and by a like vote the president was authorized to
conclude the sale of the Rahway property at a price not less
than $47,000; and a proposed form of contract covering the
immediate sale of the property to Merck & Co., Inc. was examined
by the directors and unanimously approved, and execution thereof
by the president and secretary of this company was authorized.
The president then presented a written report relative
to distribution of a Christmas bonus to employees, as follows:
"To the Board of Directors of
Hamilton Manufacturing Company:
Shortly before the Christmas of 1940 the company
distributed a Christmas bonus to employees amounting
to 5% of their earnings for the year then about to
end, and shortly before Christmas of 1941 distri-
buted a like 5% bonus on earnings of the second
one-half of the year. In January of 1942 the
company gr&nted a 7% general increase to employees
and at that time notified employees that in view
of this increase there would by no 1942 year-end bonus.
Notwithstanding this practical abrogation of the
company's customary December bonus, it is the
opinion of myself and other officers of the company
that if possible we should arrange to make some
form of present or bonus distribution this year
and we have decided to do it in the form of a $25
War Bond to each employee of one year's standing
or more, with war stamps for those employees who
have been with us less than a year. We have made
all preliminary arrangements to obtain the bonds
and stamps, but are faced with the restrictive
provisions of the Act of Congress commonly known
as the Wages and Salaries Stabilization Act of
October 2, 1942. If it had not been for the abro-
gation of the 1942 year-end bonus that was made
early in 1942, it is probable that the company could
safely make this distribution of bonds and
stamps because the amount involved for each
employee would be less than the 5% previously

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