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for [red underline]] extraordinary meeting [[/red underline]] of [[red underline]] board of Directors [[/red underline]] at 11:30AM [[red underline]] Mansoff [[/red underline]] Foersterling, Creevey Peters. Williams and myself present. Explained general situation of our business. Then Peters made suggestion to diminish our loan of $175000 to R. & H. by $100.000 [[strikethrough]] I kno [[/strikethrough]] [[red underline]] I had to use much caution not to offend the R&H. [[/red underline]] group but Mansolf stated he had no objection and we could have all of the $175000 if we so desired. [[red underline]] Creevey [[/red underline]] in his clumsy way tried to postpone action till next meeting [[red underline]] but Peters and Williams remarked [[/red underline]] that if any action had to be taken it should be done [[red underline]] now [[/red  underline]] because we do not know what [[red underline]] the war will bring us [[/red underline]] before that time. Fortunately
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there was not the slightest objection neither from the part of [[red underline]] Mansolf [[/red underline]] nor Foersterling [[red underline]] Foersterling [[/red underline]] in fact suggested that the $100.000 be deposited in three different parts. $20.000 in our bank. and $40.000 each in two different trust Companies one of them being the Union Trust Co ^[[of N.Y]] the other the Life Insurance Trust Co of N.Y. I felt glad when it was all over because I realized my responsability as a director for the fact that at these [[red underline]] uncertain war times [[/red underline]] we should have loaned ^[[R&H]] at 3%. such a large amount of money to one single business concern altho' it is true that after me they are the largest stock holders. The vote was unanimous.
I went to Chemists Club where I met [[red underline]] Cohoe [[/red underline]] of Toronto and DePew of Montreal.