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[[underlined]] Cs [[/underlined]] is the calculated valuation of good will expressed in Dollars. P + Cs = R.
R. is the ratio in which the stock of the new company will be divided amongst the 3 companies the Bakelite Co. getting 8000 shares expressed by R. while the Condensite Co gets R' and the Redmanol R". The ratio of shares held by each company R, R' and R" standing in the same ratio as each Physical assets + good will stands (P+Cs = R)
If we accept this formula then the whole discussion can be carried on its merits. [[strikethrough]] fo [[/strikethrough]] as well as the ratio division of stock and proportionate representation of different groups of stockholders by means of a voting trust arrangement.
Nov. 26. Busy early this morning studying the situation. Called
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up ^[[(phone)]] Williams who has been away told him of what had happened since I last saw him without going in details and that we had an adjourned meeting for Monday to which I invite him, but he says he has another engagement but thinks we are going along on proper lines.
A dismal rainy dark day. At 3 P.M met Hays at University Club and explained to him my plan of formula for ascertaining value of goodwill.
Supper at University Club then home.
Nov. 27. (Sunday) Went to see Townsend at Great Neck at 4 P.M. Dismal rainy drive. Celine with me Spent 2 hours with Townsend discussed pending merger with him He likes my formula for computing good will. Calls my attention to fact that we shall have to ascertain whether Redmanol
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