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36 a very pleasing personality and made a good speech. Neighbor on the right had lost [[underlined]] $300000 in a mine in North Dakota. - and resented it [[/underlined]] All afternoon conference with [[underlined]] Kingsbury and Potter Perkins [[/underlined]] drawing up amended agreement between Damard and P&J. - [[underlined]] Fog oppressive on lungs. [[/underlined]] [[underlined]] Nov. 26 Thank Heavens, fog is gone and it rains again [[/underlined]] First met [[underlined]] Kingsbury [[strikethrough]] at his o [[/strikethrough]] then Potter, [[/underlined]] and [[double underlined]] Swinburne [[/double underlined]] with [[underlined]] Bishop [[/underlined]] and talked over the situation. [[underlined]] I have come to the conclusion that in order to insure control of Bakelite Corporation and yet have enough shares [[/underlined]] disposable for allowing [[underlined]] Bishop, Potter, Kingsbury and others [[/underlined]] active in Damard, [[underlined]] Redmanol and Moldensite to become stockholders or increase their pre- [[/underlined]] [[end page]] [[start page]] 37 [[underlined]] sent holdings and thus to reduce [[/underlined]] the proportion of stock alloted to [[underlined]] Pinchon & Johnson and other passive [[/underlined]] or non active stockholders the [[underlined]] margin in our favor will be too small [[/underlined]] if we have only a capitalization of [[underlined]] 120000£ [[/underlined]] which would mean 35000£ to present Damard 30000£ Moldensite 20000£ Redmanol 5000£ Ferguson 30000£ cash supplied by us -------- 120000£ of which [[underlined]] 80000£ would be in our name [[/underlined]] but [[strikethrough]] disposib [[/strikethrough]] some of it kept for the [[underlined]] sale to employes.. [[/underlined]] These 40000£ will hardly be sufficient for nearing expenses for [[underlined]] laminated equipment additional equipment and cash at hand. [[/underlined]] So I proposed to make it [[underlined]] 140000£ or about 700000$ [[/underlined]] and that [[underlined]] we pay up only part of the subscription price of the 50000£ cash shares subscribed for by cash from us. [[/underlined]] This will