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[[circled]] 1 [[/circled]]   1931
[[underline]] June 17. ^[[1931]] [[/underline]]
[[vertical note left margin in red]] Threatening conditions [[/vertical note left margin in red]]
Spent all morning and most part of afternoon with [[red underline]] Redman [[/red underline]] passing in review present [[red underline]] threatening situation [[/red underline]] of our company, [[red underline]] confronting him with figures [[/red underline]] indicating our [[red underline]] rapidly falling off of [[/red underline]] sales and enormous [[red underline]] reduction of earnings while general expenses are increasing, specially his research department [[/red underline]] and how thru construction of our new [[red underline]] 2000000$ factory, his 200000$ [[/red underline]] addition, Pantone etc our [[red underline]] liquid assets are being reduced rapidly [[/red underline]] and have already sunk to nearly [[red underline]] 4 millions, [[/red underline]] ^[[in red]] [[(!)]] [[/in red]] while we have [[red underline]] not yet written off our losses in Italy caused thru lack of judgement and slowness
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