Viewing page 8 of 100
It looks like you're using a mobile device. We recommend using a physical keyboard for transcription entry.
10 preferred getting 150 percent on liquidation since preferred today is worth about 150. All other provisions quite acceptable. You pay nothing but [[underline]] release any claim against Germans. [[/underline]] Later Sachs said Berlin unagreeable wanted [[underline]] you and us [[/underline]] ^[[Bakelite]] buy 40% paying cash. Advise Sachs absolutely unagreeable. His associate returning Berlin [[strikethrough]] in [[/strikethrough]] Saturday to convince Berlin absolute control alone acceptable to us. [[strikethrough]] st [[/strikethrough]] Have not agreed you will surrender your claims for such percentage of shares but feel proposition might interest you." - [[underline]] Hays. [[/underline]] This all means as far as I can see: 1/ That we pay no cash. 2/ That we guarantee $25000 a year (present earnings) on the base of 7% [[underline]] cumulative [[/underline]] stock to present stockholders. [[end page]] [[start page]] 11 3/ That preferred stock has no vote unless for some reason or another, preferred of 7% is not paid for 3 years. 4/ The present stockholders of B.G. get 49% of common stock, and Bakelite Corporation [[underline]] 51% [[/underline]] 5/ My present stock in B.G gets reduced from [[underline]] 28% to 20% [[/underline]] so that I get 20% of the cumulative preferred and 20% of the 49% common allotted to B.G. present stockholders. 6/ This brings [[strikethrough]] my to [[/strikethrough]] total holdings of Bakelite Corporation and myself to about 60% of total voting common stock of Bakelite Gesellschaft 7/ [[underline]] After 7% cumulative preferred is paid common gets its dividends [[/underline]] but as soon as common dividend gets above 7%, the preferred participates an equal 2% with the common then after the 7% + 2% + 2% is exceeded common gets all.
Please note that the language and terminology used in this collection reflects the context and culture of the time of its creation, and may include culturally sensitive information. As an historical document, its contents may be at odds with contemporary views and terminology. The information within this collection does not reflect the views of the Smithsonian Institution, but is available in its original form to facilitate research. For questions or comments regarding sensitive content, access, and use related to this collection, please contact firstname.lastname@example.org.