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[[left margin red]] Formaldehyde contracts [[/left margin red]] [[left margin]] Geo. B & Rossi present [[/left margin]]
while they do not imagine what serious charges and financial responsibilities I have
[[underlined in red]] Dr. Davidson [[/underlined in red]] and Mr Johnson came here by appointment to discuss further the [[underlined in red]] formaldehyde [[/underlined in red]] contract. I told them we had decided not to enter into any contract which could not be terminated at the option of each party after one year. That the conception of [[underlined in red]] building a factory of which we both parties [[/underlined in red]] would be [[underlined in red]] joint owners, [[strikethrough]] made [[/strikethrough]] would result [[strikethrough]] in a [[/strikethrough]] automatically in binding ourselves [[/underlined in red]] for a long period. That in view of present very unsettled conditions of business and politics [[underlined in red]] nobody could forsee what unexpected changes might take place in the business [[/underlined in red]] and political situation of the U.S and of the world He readily accepted my point of view. - They proposed the [[underlined in red]] continuation of the Status quo., namely we to buy [[/strikethrough]] f [[/strikethrough]] methanol from Union Carbide as at present and let [[/underlined in red]] Dupont convert it in [[underlined in red]] formaldehyde [[/underlined in red]] as it done now. - He stated that [[underlined in red]] 
[[left margin red]] Bakelite the largest consumer of methanol [[/left margin red]] U. Carbide cannot afford to lose our methanol trade, [[/underlined in red]] we [[/underlined in red]] being the largest consumer in the U.S. If they lost our trade they [[/underlined in red]] would be compelled to shut down their expensive plant, and thus increase their over head charges. or they would be compelled to make formaldehyde themselves try to sell it, or use it themselves for making plastics. He mentioned that [[strikethrough]] Dr [[/strikethrough]] [[underlined in red]] Dent of Durey [[/underlined in red]] had tried
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[[left margin in red]] Dr. Taylor leaves Carl Marks Ripper Durey [[/left margin in red]]
to form connection. To which I answered that nothing would please me better than such an arrangement if Dupont consents. That [[underlined in red]] we deemed to remain friends with Dupont as well as U. Carbide. [[/underlined in red]] But that he must undertake the task of persuading the Dupont representatives. - That as far as [[underlined in red]] Dent and Durey [[/underlined in red]] are concerned it was well known that [[underlined in red]] for the last 2 or 3 years they had tried to sell out or merge, but had not succeeded in doing [[/underlined in red]] so. - Mailed check $250 to Murray Wrote to Ripper that have tried in vain to reach his agent Karl Marks. and sent weekend letter to Sachs. about this and requestig him to tell discreetly to [[underlined in red]] Ripper [[/underlined in red]] that Carl Marks. as his agent is not a fortunate choice.
[[underlined]] July 30. [[/underlined]] Saturday. Stayed home to work here on pending matters. Bright & cool. Start visit to Larchmont Y. C.
[[underlined]] July 31. - Sunday. [[/underlined]] Same beautiful weather All day writing letters and other paper work
[[underlined]] Aug 1. [[/underlined]] long interview with [[strikethrough]] Taylor [[/strikethrough]] [[underlined in red]] Dr. Taylor [[/underlined in red]] our [[underlined in red]] physicist, [[/underlined in red]] telling him resolution of Operating Committee who has decided to send him notice to terminate his services by Dec 31 - 1931. In the mean time his present salary will be maintained until Sept 1. then a further reductin of 10% for remaining months. Explained him present conditions which compel us to reduce salaries and that everybody but he had accepted the reduction therefore Operating Comm. decide to give him notice. But before doing so I wanted to have one interview with him to hear his side. He says he cannot find another position now and we should at lest give him until July 1 - 1933 for terminating his engagement That he has put all his savings in a  

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