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76 [[letter "B" in left margin]] is outspoken - no halfway measures nor halfhearted cooperation this time. April 3. Arrived here at 7 A.M. Albert at station drove me to Yonkers. Spent most of day dictating [[strikethrough]] and [[/strikethrough]] reports of [[red underlined]] Naval Board work etc. [[/red underlined]] [[letter "B" in left margin with annotation]] 2 h. [[/annotations in margin]] Two hours on patent suit preparation. Miss Copenhaver still here [[black underlined]] April 4. [[/black underlined]] Left early for meeting of Board Directors General Bakelite Co. - All present. Orders are higher than any month before: [[red underlined]] $116,000.00 [[/red underlined]] or about 280,000 pounds. Agreement as to exchange of licenses of lacquer patents with Condensite ratified. I called attention to necessity of readjusting our capitalization or [[ink smudged]] stock issue [[/ink smudged]] ^[[stock issue]] in view of new war taxes which strike us very unfairly, because [[annotation in left margin]] [[black underline]] War taxes! [[/black underline]] [[/annotation]] [[end page]] [[start page]] 77 we have been [[red underlined]] capitalized too conservatively. [[/red underlined]] Committee of Creevey and myself will examine this matter and report I submitted that my [[red underlined]] time is so much taken up with matters of Bakelite Co on account of patent suits that I have to forego giving attention to other professional work and [[/red underlined]] and am losing considerable fees on this account. Therefore I suggest that I should paid for professional services by the hour by Gen. [[ink smudged]] Bakelite [[/ink smudged]] Bakelite Co fixing a [[red underlined]] maximum [[/red underlined]] rate per year but not making it a salary. Favorably accepted to take up this matter next meeting at my suggestion I also suggest that this year we should declare [[red underlined]] less dividends and accumulate surplus and invest it in view of the fact that after the war our company [[/red underlined]]
