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156
[[left margin in red]] Price of Bakelite Stock [[/red underline]]
here at 11. A.M. Explained the whole situation [[red underline]] to him Thinks anything above 360$ too high. But I tell him that in order to avoid unpleasant surprises of ^[[two]] strange and objectionable directors coming in our directorate at a time when we need all our joint [[strikethrough]] and [[/strikethrough]] best will for constructive efforts during our most critical period. I am willing to offer as much as [[strikthrough]] 400 [[/strikethrough]] 400 or $2000000 for the block of 5000 shares. I want specially to avoid that any of the foreign Kartels or Trusts should try to break in thru some bank or another who [[strikethrough]] log [[strikethrough]] purchasing the stock might get in two directors. That at present our English, German and Italian Company were presented [[/red underline]] [[strikethrough thru ou [[/strikethrough]]
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157
[[left margin in red]] Sale of Stock [[/left margin]]
of [[red underline]] entering Kartels [[/red underline]] because we had more [[red underline]] than 50% of the stock [[/red underline]] But that this obstacle might [[red underline]] be removed if some way or another representatives or agents of the Kartels [[/red underline]] could get a [[red underline]] foothold in on board. Asked to K. whether he would take 1000 shares [[/red underline]] for his account if I took 4000. [[red underline]] He says Karpen Bros has no spare money at present but suggest that the Corporation should buy the stock from its own surplus. Showed him the danger of doing so and withdrawing 2 millions Dollar from our reserves at a a time when we [[strikethrough]] see [[/strikethrough]] shall have to use all our reserves cash for new plant, for the for the paper machine and [[strikethrough]] p [[/strikethrough]] varnish developments, also for probably investment in plant for making CH2O by the [[/red underline]] new