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stock he might be able to devote his time to us. Matter is left open for future discussion.
June 12. Early to office. [[strikethrough]] Man [[/strikethrough]] Long interview with Hays, then afternoon Kirk Brown etc.
June 13. Offered Bender position as chemist which he accepts.
Met DeMuth, Berger and my son at our office. Long conference concerning Schulte situation.
Everything very friendly. My son has made good progress in all this and is well posted
June 14. Early to office. Afternoon long session with Schleussner to whom I reported results of my interviews with everybody since I saw him last week. We both agree. Did not take up with him discussion I had with Hays about extra dividend. Hays thinks we ought to declare extra dividend because our
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surplus is "dangerously" high. I demonstrate there is nothing "dangerous" in this. That it is our duty to become as strong as possible for future events and for the time our patents expire by increasing our resources still further and to have ready money in abundance so that we can avail ourselves of any advantageous event which presents itself. Told him about career of Standard Oil Co. which success has almost entirely been due to large available surplus while its competitors were chronically short of money. - That present prosperity of our enterprise may be short-lived in view of nearing expiration of our patents and strenuous competition. New tariff conditions, increase in price of raw materials, increasing labor troubles in U.S etc all threaten us. Furthermore we shall