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move to general office buildings of [[underlined]] Bethune. [[strikethrough]] Had [[/strikethrough]] Surcouf [[/underlined]] took me to [[underlined]] Mercier's office the latter's son being present. [[/underlined]] Explained to them candidly history of Bakelite, also that of [[underlined]] Damard, Mouldensite & Redmanol. [[/underlined]] Our arrangement with [[underlined]] Japan, [[/underlined]] then [[underlined]] England [[/underlined]] and with the [[underlined]] Germans. [[/underlined]] Told them of our [[underlined]] net and gross profits. [[/underlined]] Our different point of view of the [[underlined]] Germans [[/underlined]] who [[underlined]] merely looked at Bakelite [[/underlined]] as a means to further the [[underlined]] sale of their cresol [[/underlined]] and phenol. Told him since I got acquainted with [[underlined]] Bethune [[/underlined]] Company, found situation very different than P.& J. were willing to go half and half with present stockholders, provision being made to [[underlined]] protect [[/underlined]] our interests as [[underlined]] well as [[/underlined]]
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that of minority stockholders against arbitrary action. Read him my principal stipulations which were the base [[strikethrough]] as [[/strikethrough]] for [[underlined]] British arrangement. Were open for arrangement [[/underlined]] according to [[underlined]] German [[/underlined]] plan or [[underlined]] British [[/underlined]] plan [[underlined]] German plan less desirable here [[/underlined]] in as far as profits were undecisive. Very pleasant meeting. [[underlined]] They are very desirous [[/underlined]] of our cooperation but [[underlined]] do not want to concede us above 50%. [[/underlined]] even now we shall be the larger stockholders than they. French law further [[underlined]] more protects minority stockholders [[/underlined]] unless majority controls 75% of stock.
Then took rest and joined [[underlined]] Surcouf [[/underlined]] and [[underlined]] La Roche [[/underlined]] again in afternoon.  (Mrs. Surcouf listening where details of arrangements were discussed according to [[underlined]] British plan. [[/underlined]] The [[underlined]] main points [[/underlined]] were [[underlined]] set forth [[/underlined]] in a letter