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158
[[vertical annotation in red in left margin]] Consolidation [[left margin]]
that he together with the executive committee would decide in frequent meetings as to business policy etc. being advised by the heads of each of the companies. But that I would become chairman of the Board of Directors other board to have less frequent meetings and to decide by matters of policy and finance. In the board the different groups of stockholders would be represented in the same ratio as their respective holdings. That later on after the period of voting trust had expired. New groupings could be made according to any shifting of possession of stock. That we however contemplated as far as G.B. Co was concerned
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159
[[vertical annotation in red in left margin]] Consolidation ? [[left margin]]
that the present stockholders would arrange a voting trust representing their block for a certain number of years so as to prevent inducements of manipulating purchase or option of stock by insiders or outsiders with the intention of wresting control. That we contemplated making a provision similar to the one under which I now held my stock that in the event of any stockholder of our group wanting to sell his stock he should first give an option to subscribe at the same price by [[strikethrough]] stock [[/strikethrough]] the combined stockholders of our group. But all this were details to be discussed later. I expressed our desire to keep employes and managers in the different companies except in cases where they were obviously undesirable. That our spirit