Viewing page 21 of 101

This transcription has been completed. Contact us with corrections.

36
[[red underline]] advertised [[/red underline]] the use of [[underline]] Durium [[/underline]] made from Resorcinol as if it were a new discovery which was to revolutionise the plastic art etc. Much [[red underline]] advertisements [[/red underline]] and newspaper articles, together with [[red underline]] stock promoting [[/red underline]] etc. technical difficulties, etc [[red underline]] put the company in bankrupcy. [[/red underline]] - Its assets were repurchased by the present group. The young men met there made a good impression and it looks as if this enterprise were entering a better period.
At 2P.M meeting with [[strikethrough]] Geor [[/strikethrough]] [[red underline]] Operating Committee: [[/red underline]] Geo B, Sanford Brown. Redman & Rossi. I went over all pending questions and more specially analysed the paying and the losing divisions of Bakelite establishing the relative merits of [[red underline]] Halowax division [[/red underline]] in 
[[end page]]
[[start page]]
37
comparison to the [[red underline]] much better paying divisions of our resins [[/red underline]], laminated varnishes, cement and lacquer.
Our [[red underline]] losses occur principally in molding materials [[/red underline]] where we made a considerable reduction in price to increase volume of sales which did not occur [[red underline]] Other losing [[/red underline]] departments are [[red underline]] New air drying [[/red underline]] varnish resins due to extraordinary expenses of introduction and research Same applies to paper department Afterwards had a private talk [[strikethrough]] of [/strikethrough]] with Sanford Brown in regard to a letter he wrote me asking permission [[strikethrough]] for [[/strikethrough]] to show ^[[to Operating Committee]] what he calls "a confidential(!) letter" to me analysing and critisising the way Bakelite Corporation is run. [[red underline]] A fault finding stupid letter to which I have already written an answer [[/red underline]]