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Told him that in the accounting Horne had left a provision for [[red underline]] $20000 [[/red underline]] monthly to be spent on [[red underline]] bonus. [[/red underline]] - This being an amount he had carried each year since in 1929 we had given as much, and that thus far nothing had been spent of this amount [[strikethrough]] as [[/strikethrough]] nothing had been spent and that [[red underline]] A. Karpen [[/red underline]] had [[red underline]] said that no bonus should be [[/red underline]] allowed [[red underline]] except [[/red underline]] [[strikethrough]] for [[/strikethrough]] when warranted [[red underline]] for exceptional good returns [[/red underline]] or exceptional [[red underline]] services [[/red underline]] etc. and that we had concluded to await the results of the end of the year. That in the meantime our [[red underline]] profits had kept on declining since end of 1929 [[/red underline]] and kept on declining all thru 1930 and kept
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[[vertical note left margin in red]] No sign of improvement [[/vertical note left margin in red]]
on thus every following month in 1931 and [[red underline]] there was no sign of improvement [[/red underline]] - Yet our general expenses kept on increasing 
It was difficult to discuss with him because all what he has to bring forward is hope and expectations. "Give us two years more and you will see" etc. 
[[vertical note left margin in red]] [[red underline]] Redman [[/red underline]] Redman]]opposed to Byck [[/vertical note left margin in red]]
Also touched gently upon the fact that he had told to [[red underline]] Morry [[/red underline]] that if [[red underline]] Byck [[/red underline]] was appointed on the Patent division [[red underline]] "he would not let him come into the research buildings" [[/red underline]] [[in red]] !! [[/in red]] 
He did not contradict when I asked him whether he had said so or not. He simply kept silent and then I told him that if he had any [[strikethrough]] neg [[/strikethrough]] objection based on anything but personal antipathy it was his duty

Transcription Notes:
rt page 5/ vertical left margin note "Redman opposed to Byck" it's unclear if Redman is underlined or if "opposed to Byck" is a strikethrough.

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