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152 of [[underlined]]Bakelite Corporation[[\underlined]] and how [[underlined]]lucky[[\underlined]] we are [[underlined]]to have set aside sufficient reserve funds[[\underlined]] for [[underlined]]passing this present period[[\underlined]] for which we were prepared [[underlined]]since several years.[[\underlined]] How our reduction in sales and profits is much less than what I expected and how at present we are still earning net profits at the rate of [[underlined]]30$[[\underlined]] per share. [[underlined]]Halowax[[\underlined]] is paying [[underlined]]well so is Autopaint.[[\underlined]] Further conference with [[underlined]]Swan Rossi & Geo B[[\underlined]] about [[underlined]]lowering selling prices.[[\underlined]] Cut proposed will wipe out our profits on molding material at least [[underlined]]$200000[[\underlined]] unless we get increased business which now is held by our competitors. [[underlined]]Profits[[\underlined]] on [[underlined]]transparent are rapidly diminishing[[\underlined]] towards the vanishing point. On the other hand [[underlined]]Halowax[[\underlined]] and [[end page]] [[start page]] 153 [[underlined]]Autopaint[[\underlined]] are increasing steadily, and new articles are finding a market and market for new paper is approaching. Told to all of them that I do not mind the loss for the money am perfectly willing to try the experiment but want the independent opinion of [[underlined]]Karpen and Schleussner[[\underlined]] not influenced by my views [[underlined]]Oct 27. Karpen[[\underlined]] fully [[underlined]]agrees[[\underlined]] - We wired him. - [[underlined]]Schleussner[[\underlined]] independently [[underlined]]comes to same conclusions so we all agree[[\underlined]] independently [[left margin]] X [[\left margin]] Professor [[underlined]]Molinari[[\underlined]] here. Makes excellent impression. Spoke French. All morning session with him discussing different matters, explain our views, aims, methods plans and purposes. Took him for lunch at [[underlined]]University Club.[[\underlined]] Afternoon 2.30 P.M visit of [[underlined]]Parsons[[\underlined]] whom I interrogated concerning A.C.S. decision