Viewing page 31 of 63

This transcription has been completed. Contact us with corrections.

56/
[[left margin in red]] Bakelite 
Rutgerswerke[[/left margin in red]]
[[underline]] June 28 [[/underline]]. [[red underline]] Sachs [[/red underline]] had telegraphed me from Berlin for [[strikethrough]] a long [[/strikethrough]] an urgent interview and arrived this morning. Told me that [[strikethrough]] in case [[/strikethrough]] they hope recent decision of Patent office in their favor, of the [[red underline]] lime patent [[/red underline]], will they hope place them in a favored position towards their competitors. 
Nevertheless they want to be prepared against price-cutting and Rutgers had offered them besides the 5% below market price for phenol and cresol they are receiving now to offer them temporarily a further reduction to enable them to face price cutting in case it occurs. But if at these reduced prices Bakelite Gesellschaft would still make a profit, then [[red underline]] Rutgerswerke [[/red underline]] would be [[strikethrough]] reinforced [[strikethrough]] reimbursed thereof to the amount of their further reduction in price beyond the 5%. Should they not make profits in one year, then the rebate would be reimbursable the following year [[strikethrough]] etc [[/strikethrough]] or at such time as they made again profits. The arrangement was temporary and could be canceled either by Rutgers or by Bakelite Ges. Asked Sachs to write me a letter to this effect and I would write my answer. In this answer I accepted the proposition which could be canceled at any time, [[overwritten]] and - [[/overwritten]] after I had proposed that accountings would never be deferred long than every 6 months, so as to avoid a large debt accumulating. - This Sachs accepted. Told Sachs about letter of George concerning progress with [[red underline]] Rogers Paper Co [[/red underline]] At 11:30. There was a formal meeting of the board of directors of Bakelite Ltd. Kingsbury, Swinbourne, Potter, Perkins [[strikethrough]] and [[/strikethrough]] Beroliet and myself being present, also Cooper.
[[end page]]
[[start page]]
57/
[[left margin in red]] Bakelite Ltd Annual Directors [[/left margin in red]]
[[red underline]] Cooper [[/red underline]] practically conducted the meeting and did it very well. Various reports were read and approved. Outstanding was [[red underline]] further increase in sales [[/red underline]] both in lbs and in gold value above same period [[strikethrough]] of [[/strikethrough]] ending [[strikethrough]] May [[/strikethrough]] June 1 - 1932 over 1931. Results would even be better except that on account of moving. They were behind in filling orders for laminated, which was rapidly being eliminated [[red underline]] Beroliet [[/red underline]] seems a pleasant man who says nothing, and Kingsbury says [[strikethrough]] be [[/strikethrough]] B. seems to believe more in Bakelite than in Pinchon & Johnson
Drew 30£ from Bakelite Ltd
[[left margin in red]] [[red underline]] Hoover [[/red underline]] [[/left margin]]
[[red underline]] Hoover's bombshell of yesterday announcing his demand for reduction of all armaments to 1/3 [[/red underline]] what it is to day is much supported by the French socialists also by liberal people here, but answer is dodged by conservatives. Hoover wants: yes or no, at Lausanne, [[red underline]] before taking up debts [[/red underline]] or war reparations. After the meeting we all went to a nearby restaurant for [[strikethrough]] supper [[/striketrhough]] dinner.
[[underline]] June 29 [[/underline]]  
[[left margin in red]] Salas [[/left margin in red]] 
A further talk about [[red underline]] Halowax [[/red underline]] with Potter, in presence of Kingsbury and [[red underline]] Luis Salas. [[/red underline]] - The latter is specially occupied with [[red underline]] Halowax [[red underline]] introduction. Potter says that competition they have had from [[red underline]] Imperial Chemicals [[/red underline]] and others, where trade has been taken away, was for the lower unrefined grades. - [[red underline]] Salas [[red underline]] has offered the new wire-coating mixture to the heads of ^[[telephone]] telegraph (postal service) they say they are interested if it is fireproof but cannot pay more than 5% more over what they are now. [[red underline]] Kingsbury [[/red underline]] thinks fireproof wire important. I told to [[red underline]] Salas [[/red underline]] that question of price vanishes if better technical effect shows compensatory value. - Gave him