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spoken a year ago about the desirability of having George B as a Director, so that [[underline]] in case of my death they could elect him President, has offered me [[\underline]] to withdraw and let George B be elected.  I told him [[underline]] I hoped Townsend might withdraw, [[\underline]] or Karpen might, without harm to himself allows one of his directors, for instance his brother to be replaced by [[underline]] George Baekeland. [[\underline]]  I would do it if I were in Karpen's place but [[underline]] neither Karpen [[\underline]] nor [[underline]] Schleussner [[\underline]] nor [[underline]] R & H [[\underline]] are not inclined to magnanimous attitudes and usually claim for themselves [[underline]] all what belongs to them. [[\underline]]  Under the circumstances I shall have to do the next

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best thing and [[underline]] replace George Roll by George Baekeland [[\underline]] as there is very [[underline]] little probability that in case I did, George Roll [[\underline]] would be elected President while they might be more disposed to let George Baekeland succeed me.  [[underline]] I am in a very embarassing condition. [[\underline]]  If I reelect Townsend I simply jeopardize my position.  If I accept Townsend's withdrawal I loose a friend.  Then there is that same question which recurs now for the 3d time, where [[underline]] Schleussner and Karpen [[\underline]] band together and [[underline]] want each $30000 [[\underline]] for their services and make me accept $60000 which virtually means the equivalent of 5% more dividends and makes me pay 1/3 of