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90
[[vertical annotation in left margin in red]] !130000$ [[red underlined]] Ripper [[/red underlined]] [[/left margin in red]]
new field as one would expect
Aug 9. [[red underlined]] Karl Marx, [[/red underlined]], representative of [[red underlined]] Ripper [[/red underlined]] here. He is a better qualified man than I was led to believe. So I immediately telegraphed to Sachs reassessing my opinion which I wired him about 2 weeks ago when I explained my doubts whether Marx was a suitable man. Also wrote [[red underlined]] Ripper [[/red underlined]] to that effect. Asked him what Ripper wants for his American patents before we go further into the matter. [[red underlined]] Marx said $130 000 [[/red underlined]] told him this offer did not attract him and asked Marx and Ripper to make an arrangement on a royalty base, or any method where the reward is proportionate to the results
Evening went to the University Club with some mangos for dinner
[[vertical annotation in red in left margin]] Upswing in Wall Street [[/left margin]]
Aug 10 [[strikethrough]] Aug 10 [[/strikethrough]] Afternoon [[red underlined]] meeting Harberger with George [[/red underlined]]. Hays, Rossi and Holmgren about his proposition.  Told Hays and others will [[red underlined]] risk $15000 and no more. [[/red underlined]] Afternoon Sandford of Yonkers came to see me, he wants to ship fancy articles of Bakelite to South America
[[red underlined]] Stocks and bonds are going up [[/red underlined]] what seemed very low a few months ago seems high (!) now. Am told Europeans, speculators who had sold out their holdings by being frightened about anti-American propaganda in [[red underlined]] Europe [[/red underlined]] and are now purchasing [[strikethrough]] what the [[/strikethrough]] at prices which they consider bargains [[strikethrough]] have [[/strikethrough]] are [[red underlined]] now shipping gold to U.S. to purchase our securities [[/red underlined]]. A few months ago they did the reverse hence the drop in securities followed by selling here, by people who had to sacrifice
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[[vertical annotation in left margin in red]] Recovery in business [[/left margin]] 
securities on which they had borrowed and could not renew their loans when due. [[strikethrough]] Of course whether [[/strikethrough]] Am told also that [[underlined in red]] Europeans thought they were smart in selling short and now are hurrying to cover themselves [[/underlined in red]] hence the renewed gold movement from Europe to U.S.
[[underlined]] Aug 11. [[/underlined]] A Frenchman, Henri de [[Maguin?]] came here to offer us U.S patents for a French product called [[underlined in red]] Thiobonite.a resin [[/underlined in red]] obtained by acting with [[underlined in red]] S2Cl2 on phenol-alderhyde resins [[/underlined in red]] and afterwards compounding [[underlined in red]] with rubber. [[/underlined in red]] Left me one black disc about 4" diam, rather poorly molded and with holes in the surface They claim wonderful properties for it. [[Maguin?]] says he knows nothing about the product except the published printed matter which he left with me. - Told him would first examine the U.S patents, then compare our tests with those published by that company before going further [[underlined in red]] George [[/underlined in red]] Baekeland is [[underlined in red]] impetuous with the Harsberger matter [[/underlined in red]] and seems impatient because I do not feel so optimistic. [[underlined in red]] Wrote him [[down?]] or two pages my arguments for caution. [[/underlined in red]] Hays has drawn up a provisional letter contract, but I [[underlined in red]] do not like it at all, nor does Hays nor Rossi nor Sanford Brown [[/underlined in red]] The trouble with George Baekeland he is [[underlined in red]] too impetuous and too optimistic after he once has made up his mind [[/underlined in red]] on any new subject which strikes his fancy. Forgets that this same impetuosity brought us in that [[underlined in red]] Surcouf trouble, [[/underlined in red]] that we 

Transcription Notes:
Pretty sure it is "mango[e]s" not "managers" for dinner. Baekeland frequently reported bringing things like fresh fruit and homemade wines to these dinners. 'underlined in red' is the same as 'red underline' Why edit just to change this, instructions not clear which might be more appropriate except they do say the word 'underlined' had a 'd' and not 'underline' without the last 'd' Seems a waste of time unless someone has clarification as to which is more appropriate from Institute