Viewing page 20 of 84

This transcription has been completed. Contact us with corrections.

34
during my absence. At factory had conference with MacDonald then later saw [[red underline]] Rossi [[/red underline]] who is going off on a short vacation. Orders [[red underline]] very slight, [[/red underline]] [[strikethrough]] almost [[/strikethrough]] all departments almost idle.
Department I just discharged foreman who was urging workmen to do as little as possible. The fool probably does not know that we are running at considerable loss in that department.
Ordered new gaff for main sail 
Afternoon at 4 P.M. meeting in Townsend's office with Kirk Brown and Schleussner and Townsend for discussing further our plans of consolidation 
[[two short vertical lines in left margin]]
I told to Kirk Brown that I shall be the [[red underline]] biggest loser [[/red underline]] because I should have to give up my personal control in my company. That in
[[end page]]
[[start page]]
35
any consolidation it will be our duty [[red underline]] to be fair and square [[/red underline]] and to continue to act towards minority interests the way [[red underline]] I have acted in General Bakelite Co. [[/red underline]]
We decided to draw up each on our side a plan for computing relative values of the stock of each company and a voting arrangement whereby two of the controling interests could not band together so as to crush the third. This seems [[red underline]] simple enough to me [[/red underline]] by bringing in a rule whereby any measures require a certain percentage of the votes of the directors so that decision should have to be nearly unanimous.
[[red underline]] Kirk Brown [[/red underline]] seems willing to let us compute earnings without [[red underline]] deduction [[/red underline]] of