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[[left margin in red]] Purchase of R&H Bakelite Stock [[/left margin]]
[[red underline]] gas process. [[/red underline]] and for which I [[red underline]] have entered negotiations [[/red underline]] with the representative of [[red underline]] another firm that is a large use of CH2O [[/red underline]] and which possibly [[red underline]] may join us in building the plant with us etc. Furthermore our income of our reserves is needed for our several program. [[strikethrough]] specially no [[/strikethrough]] which if interrupted will mean the slow death of our enterprise depending on research. in a field where so many competitors are very active [[/red underline]]
We both went to see [[red underline]] Schluessner and Hamman. [[/red underline]] told them we would write them a letter declining [[red underline]] their offer at 450$ as being absurdly [[/red underline]] too high, but wanted to advise them [[red underline]] verbally [[/red underline]] that if they would consider [[red underline]] 400$ [[/red underline]] (but not a cent more)
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a share. we would reopen negotiations with every probably of closing the deal. [[vertical red and black lines in left margin]] [[red and black underline]] Altho' 400$ was much too high I was willing to make a considerable money sacrifice too keep outsider out of the company [[/red and black underline]] [[/lines in left margin]] at its most critical period where every one had to cooperate constructively [[red underline]] instead of playing business politics [[/red underline]]
The letter rejecting the $450 offer was sent by special messenger. [[red underline]] Carueth and Hamman have and in absurd and unbalanced idea about the value of their stock that I doubt [[/red underline]] whether they [[red underline]] will reopen the case. [[/red underline]] So I have sent in order to my broker to buy [[strikethrough]] securities [[/strikethrough]] stock securities with the $300000 cash I have now in the bank. so as to benefit by [[strikethrough]] the present [[/strikethrough]] ^[[any]] slump in the stock market. - [[strikethrough]] Karpen left afternoon [[/strikethrough]] 
[[underline]] July 28 [[/underline]] Had another long