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1/ What was the value of the stock of the G. B. Co [[strikethrough]] at [[/strikethrough]] and of the Condensite Co at the time when Redmanol entered the field and deduct from it the money actually paid in and call this the good will of each of the two companies and add this to factor Cs. [[strikethrough]] and [[/strikethrough]] and make no division by 4 of the factor Cs of Redmanol as found by our proposed formula. For instance in 1914 [[strikethrough]] or 1915 [[/strikethrough]] (or 1915?) when Redmonal began delivering goods. The value of the shares of G.B. Co was probably 125, or $1000000 for the total stock, deduct from the $360000
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and we call 1000000 - 360000 = 440000. The value of the good will of the G.B. Co. at that time. [[strikethrough]] the value of [[/strikethrough]]
Same calculation for Condensite and this sum obtained for [[strikethrough]] each [[/strikethrough]] each Co. is to be added to Cs after Cs has been divided by 3.
In our case it would be
      Cs
     ----  + 44000 = good will at present.
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2/ Another way [[strikethrough]] is to [[/strikethrough]] if it is not possible to agree upon the value of our stock in 1914 or 1915, is to go to our books and total the earnings from 1911 to 1915 divide by 8 and multiply by 100 and this will give the good will in each case, capitalized at 8%.
    

Transcription Notes:
(@AntelopeWest) Another one to fix. I am unable to reproduce the notation, Cs divided by 3, as it is written, thus the transcribed notation. Also note: Baekeland's math is faulty. 1,000,000 - 360,000 = 640,000, not 440,000, and at the end of 1/, using his faulty math, 44,000 should be 440,000.