LUCILLE "LUCY" BALL - CORPORATE MINUTES SIGNED 04/20/1955 CO-SIGNED BY: MARTIN N. LEEDS, ANDREW G. HICKOX, DESI ARNAZ SR. - HFSID 172796
DESILU VOTES TO GUARANTEE A $30,000 LOAN DESI AND LUCY ARE NEGOTIATING WITH THE BANK OF AMERICA LUCILLE BALL and DESI ARNAZ. "Desi Arnaz" as President, "Lucille Ball" as Vice-President, "Martin N. Leeds" as Executive Vice-President and "Andrew G.
Sale Price $1,190.00
DESILU VOTES TO GUARANTEE A $30,000 LOAN DESI AND LUCY ARE NEGOTIATING WITH THE BANK OF AMERICA
LUCILLE BALL and DESI ARNAZ. "Desi Arnaz" as President, "Lucille Ball" as Vice-President, "Martin N. Leeds" as Executive Vice-President and "Andrew G. Hickox" (twice) as Vice President and Secretary, 2p, 8½x11. [Hollywood, California], 1955 April 20. Headed: "Minutes of Special Meeting of the Directors of Desilu Productions Inc." At the meeting, Desilu Productions Inc. was "authorized to guarantee the payment to the Bank of America...of a 120 day interest bearing note in the amount of thirty thousand ($30,000) dollars to be executed by Lucille Ball and Desi Arnaz...." I Love Lucy premiered on CBS on October 15, 1951. It was television's first smash hit situation comedy and the first sitcom to be filmed before a live audience. In its six seasons, I Love Lucy ranked third (1951-1952), first (1952-1955, 1956-1957) and second (1955-1956) in the Nielsen ratings. One of the classic I Love Lucy episodes was televised on April 18, 1955, just two days before this meeting. In "The Star Upstairs", Lucy finds out that actor Cornell Wilde is staying in the hotel's penthouse and she wants to see him; he'd be the 100th movie star she's seen since she, Ricky, Fred and Ethel arrived in Hollywood. Comedienne LUCILLE BALL (1911-1989) and her husband, Cuban bandleader DESI ARNAZ (1917-1986) had formed Desilu, which became one of the world's largest television production companies, to produce I Love Lucy after CBS had denied Lucy's request that her husband play her spouse on the show. In 1957, Lucy and Desi sold the rerun rights to I Love Lucy to CBS Films for $5 million. They used the money to help Desilu Productions purchase the RKO motion-picture lot, where both had worked as actors years before. With their expanded facilities, the couple produced such successful programs as Our Miss Brooks, The Untouchables, The Danny Thomas Show, Mission Impossible and Star Trek. In 1960, when Lucy and Desi divorced, they divided Desilu's assets in half; two years later, Lucy bought out Desi for $3 million. MARTIN N. LEEDS, the Executive Vice President of Desilu, later joined CBS. In 1993, he published Desilu: The Story of Lucille Ball and Desi Arnaz. Binder holes at top. Staple holes and paper clip impression in upper left corner. Light diagonal fold in blank lower left of signature page. Otherwise, fine condition.
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