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year. - [[red underline]] while net year we shall probably have no earnings [[/red underline]] [[strikethrough]] to make [[/strikethrough]] [[red underline]] from which to make [[/red underline]] deductions. After my urgings Sandford Brown telephoned to Sachs to hurry up final straightening up of Italian situation before end of 1931
[[underline]] Oct 31. [[/underline]] Very busy day at Snug Rock changing again details of draft of [[red underline]] new French agreement. - I am getting rather fed up with all these endless uninteresting matters [[/red underling]] which take all my time. Shall try to [[red underline]] leave next Saturday for Florida. [[/red underline]] so busy week ahead That [[red underline]] unfortunate letter contract to Surcouf which George signed and delivered to Surcouf without giving me an opportunity to read it has been the cause of more than a years trouble and preoccupation and has robbed [[/red underline]]
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me ^[[and others]] of much time which we needed for ^[[incomparably]] more important matters [[red underline]] La Bakelite has never earned anything and never will and [[/red underline]] all we can expect from these entanglements is tricks, trouble and recriminations.
[[underline]] Nov. 1. 1931. [[/underline]] George Baekeland here for discussing several pending business matters. and our [[red underline]]y steadily more threatening condition in Bakelite [[/red underline]] [[strikethrough]] and [[/strikethrough]] The necessity of writing off Italy and any other losses this year while we still show earnings ^[[so as to be able to deduct them from our taxes]] Next year with our steadily diminishing returns we may not have any earnings to deduct from. Dont see why we could not sell our Italian shares here at public auction so as any businessman does who for book keeping sale wants to establish losses. Should afterwards we find out that our auction sale was below value, we can always then restate the proper value