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[[underlined in red]] Karpen why he did not [[/underlined in red]] buy wheat, or cotton or rubber but he did not answer.
Even [[underlined in red]] Halowax is $5000 [[/underlined in red]] in red ink this month. Then [[underlined in red]] Karpen let the cat out [[/underlined in red]] of the bag by proposing [[underlined in red]] Sanford Brown as ^[[vice-]] president. [[/underlined in red]] Told them could not support this unless bye laws will changed to curtail power of vice presidents. At present I carried the moral and real responsibilities of our corporation without having the necessary authorities. [[underlined in red]] Vice presidents [[/underlined]] had repeatedly, not by evil intentions, but by simple lack of realising my responsibilities, acted and [[underlined in red]] signed important papers without advising me. One of the most regrettable incidents was the notorious Surcouf agreement [[/underlined in red]] signed without consulting me on June 24 - 1929, and several other instances. Therefore before
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acquiescing with Karpens motion wanted to have the Bye-laws changed accordingly. - This was done.
Afterwards [[underlined in red]] Sanford Brown [[/underlined in red]] came to see me thanking me for having appointed him vice-president and telling me: "I did not expect it and Mr. Karpen proposed me without having even spoken about it to me beforehand." !?!?... Just [[underlined in red]] like S.B! [[/underlined in red]]
[[strikethrough]] Sit [[/strikethrough]] Situation at present is for Nov. 1931 
Bakelite Del. Halowax, Painesville    Total
  - 1813       -5110     -2180     =  -9103
Total       11 months 1931 is = +   311,951$
as compar   11   "    1930    = + 1,084,340$
To morrow further discussion
[[underline]] Dec. 18. [[/underline]] Showed them estimated results in each dept for total 1931
From which results that [[underlined in red]] Halowax [[/underlined in red]] will have made about [[underlined in red]] 85000$ but several of our departments [[/underlined in red]] in Bakelite (laminated varnish & grindstone resins) have each [[underlined in red]] made decidedly more, [[/underlined in red]] while the largest loser is molding materials