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L.H. [[underlined]]Daugherty[[\underlined]] interests had arranged an exclusive contract [[underlined]]with R&H[[\underlined]] giving them the monopoly for their new process of Methanol and formaldehyde, [[underlined]]on their induced belief that R&H and Bakelite were one and that Bakelite[[\underlined]] bought all its formaldehyde from R&H.  [[left margin red vertical line]]  Reminded him furthermore of the recent statement by Hamman that R&H consider that it does R&H harm to be known to be associated with Bakelite, and when they try to sell raw materials to competitors of Bakelite.  I thus annuled all his arguments.  Then he said that with him it was much a matter of sentiment in view of the long association of R&H with Bakelite since the beginning.  Told him that with me it was also a
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matter of sentiment and that I regretted very much, personally to have to lose him.  But the [[underlined]]attitude of R&H during the late years had become more and more different from our pleasant relations in the past.[[\underlined]]  That this was due not to Schleussner or Hamman but to the men on the board who now seem to rule their policies.  That Schleussner was not an important stockholder in Bakelite, but a large stockholder and vice-president of R&H.  That on our board he did not represent himself but R&H [[underlined]]whose spokesman he was.[[\underlined]]  He was acting under a [[underlined]]mandate from them:[[\underlined]] compelled to act the way he was instructed by them.  [[underlined]]If not he was either untrue[[\underlined]] to his mandate and open to censure, [[underlined]]or compelled[[\underlined]] in cases which might arise to take a stand detrimental