Viewing page 69 of 98

This transcription has been completed. Contact us with corrections.

132
to net as follows:
1/ make Bakelite Corporation an operating company
2/ Put Sanford and Gordon Brown in N.Y. office to represent Bakelite Corporation and its divisions instead of Condensite Co.
3/ Make Holmes. Director of Technical publicity to cooperate with advertising committee which is commercial publicity. Holmes to [[strikethrough]] write article [[/strikethrough]] lecture and write articles for technical papers etc.
4/ Get larger office space.
July 30. Kaspen arrived here to confer about offer of Kirk Brown to sell his stock. [[strikethrough]] Book value [[/strikethrough]] Hays, Schleussner, Geroge B and George R., Rossi [[strikethrough]] all [[strikethrough]] Redman all discuss terms. Book value now is $138. In view of the fact that our company depends
[[end page]]
133
on patents which are soon to expire and has not a sufficiently large number of diversified customers we risk to lose our largest customers as soon as we lose our patent monopoly. Of course we expect to work hard and make all our plans to face this condition by strenuous development. Yet the fair price for [[strikethrough]] our [[/strikethrough]] the stock would be $150 a share. Kaspen suggested we each write the figure we guess Brown will ask. I wrote 300 all the others much lower. But I being to know Brown.
When Kaspen returned I heard my guess was right! Kaspen sys Kirk Brown in his conversation hinted at nuisance value.
Took Sanford Brown to University Club. for lunch He confirms my suspicion that the Brown boys would be very