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asked him that if there is any objection going further he should speak now. He says there is no objection so I called Hays at the phone who found me at R&H office and then and there explained to Hays whole situation. Told him to look into the matter and report as soon as possible how the whole thing could be carried out. Explained him that the method of [[strikethrough]] assessment [[/strikethrough]] computing assets of both companies should be the same and carried out by the same man acceptable by both That assets should be computed on present values not purchase price nor book values. That no value
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should be inserted for patents or trade marks or good will but that the latter should be computed from the earnings of each company without however deducting from the latter, any fees or salaries fixed to officers or directors [[strikethrough]] as nec [[/strikethrough]] nor any federal taxes.
He suggests making a new company incorporated in Delaware and exchange our stock pro rata indicated by the evaluation of respective assets. Told him to study the method by which the chemical companies were consolidated into the Allied Chemical Co. Returned home during afternoon at G. Director's meeting and stockholders meeting of G.B.Co Everybody present