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[[left margin in red]] Trist & Pantone [[/left margin]]
and according to Townsend seemed the weak point. An entirely friendly [[strikethrough]] situation [[/strikethrough]] and frank discussion on both sides. Then [[red underlined]] invited him to answer himself [[/red underlined]] the objections of Townsend as to the patents. So we went together to Townsends office this afternoon.- [[red underline]] Townsend [[/red underline]] was ill [[red underlined]] with a cold and rather [[/red underlined]] nervous impatient and gloomy, and suggested that instead of proposed contract Trist give us exclusive license and be paid by royalties part of earning being set aside for defending possible patents suits. Said that 3 similar arrangements had been made for similar cases with Union C&C. [[strikethrough]] I asked him whether po [[/strikethrough]] But in his cases the patentees were corporations, while here we have to deal with a man who has spent large sums of money on his process and wants to see some of it back as soon as
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[[left margin in red]] Trist [[/left margin]]
possible. - Townsend showed a letter to [[red underline]] Swan [[/red underline]] advising to make immediately some [[red underlined]] fundamental experiments to determine on how far the disclosures of the [[/red underlined]] prior art would enable infringers to imitate the technical effect of the later patents of Trist. - We all agreed this was good suggestion specially in view of [[red underline]] Trist [[/red underline]] being present so as to guide us and explain. Afterwards took [[red underline]] Trist [[/red underline]] to University Club for supper at our "Engineers table" which he seemed to enjoy much.
[[underline]] Sept. 17. [[/underline]] Directors meeting at 11 AM Hays was here at 10 A.M. Explained to him my latest meeting with [[red underline]] Barret [[/red underline]] and how since then had been able to study calculations made by accountants of U.C.&C. and that the latter simply [[red underlined]] had charged our Bakelite pfd shares as a liability against assets! [[/red underlined]] This of course is absolutely contrary to the preliminary stipulations I had made