Viewing page 57 of 65

105/
[[left margin in red]] Howard Coffin [[/left margin in red]]
about this and organised a [[underlined in red]] board of advisers which [[/underlined in red]] seem [[underlined in red]] to have no coordination. [[/underlined in red]] A man is one department by carrying out his decisions, upsets everything in another department etc.
[[underlined in red]] Coffin calls it "a mess". [[/underlined in red]] and told them so at Washington and pointed out their absolute lack of coordination Compares present situation to a zig-saw puzzle of which all the blocks are thrown pell mell and distributed among so many persons who stubbornly hold to their own piece. [[underlined in red]] Notwithstanding the pleasure [[/underlined in red]] of [[underlined in red]] meeting my remaining fellow. [[/underlined in red]] members of the board; the whole discussion made a very chilling impression on all of us. [[left margin in red ad underlined]] Franklin Roosevelt [[/left margin]][[underlined in red]] Frank Roosevelt got into quite a jam with his advisors of the "Brain Trust." [[/underlined in red]] and we do not seem at the end of it. since the tinkering with the [[underlined in red]] Gold Dollar. Every one I meet is perplexed as to what [[/underlined in red]] we may expect next.
Home at midnight.
[[underlined]] Nov 12. (Sunday) [[/underlined]] All day studying & writing - several problems
[[underlined]] Nov 13 [[/underlined]] Busy day. News about [[underlined in red]] little Freddie not encouraging [[/underlined in red]] New examination by specialist in New York sees no progress and he will have to continue in [[underlined in red]] bed for several months [[/underlined in red]] so as to try healing by time.
[[underlined]] Nov 14 [[/underlined]] Mailed another 50$ to Rachel [[strikethrough]] then no [[/strikethrough]] Feel very depressed
[[underlined]] Nov 15 [[/underlined]] & 16. at office. at 4:30 [[underlined in red]] George Hasslacher [[/underlined in red]] came to see me. He had written me a letter saying that it might be better for Bakelite Corporation if the directors were not all officers and included some outsiders
[[end page]]
[[start page]]
106/
[[left margin in red]] [[underlined]] 2000000$ [[/underlined]] to buy our Roessler Hasslacher Co R & H and George Hasslacher! [[/left margin in red]]
Also the [[underlined in red]] disadvantage [[/underlined in red]] of [[underlined in red]] our stock not being listed [[/underlined in red]] and thus making if difficult to put a value on it whenever estates had to be adjusted, by death etc.
Told him [[underlined in red]] condition of Bakelite [[/underlined in red]] and how it [[underlined in red]] should not be confused with the tricks which the directors of Roessler Hasslacher. [[/underlined in red]] played and who altho' representing the minority of stock allocated to themselves exorbitant salaries and bonuses and options to purchase stock at low prices etc. Told him I myself would like to have our stock on the Exchange so as to have a proper idea of its value. But the Stock exchange does not permit to list a stock of which the majority of the shares are [[strikethrough]] not [[/strikethrough]] owned by a few shareholders. He was astonished when [[underlined in red]] I told him that I received no more compensation than the other men [[/underlined in red]] on our directorate except Hays. That on the contrary, when I get 15000$ a year for fees, it means that I [[underlined in red]] only get about one half because [[/underlined in red]] I take it out of my own property [[underlined in red]] having about 1/2 of the total stock, [[/underlined in red]] and when [[underlined in red]] after deducting my taxes I have less than $7000.00. [[/underlined in red]] He was astonished also when I told him there was no bonus and that when Bonuses were alloted they never exceeded in conjunction with salaries $30000.00 as the highest after I [[underlined in red]] got rid of R&H and Karpen coalition who wanted to induce me to take a fat slice [[underlined in red]] before salaries and dividends. That this was the reason [[underlined in red]] why I took about $2000000.00 [[/underlined in red]] of my [[strikethrough]] good [[/strikethrough]] well invested money [[underlined in red]] to buy out R&H [[/underlined in red]] 5000 shares of Bakelite and thus break up the coalition of Karpen and R&H who wanted to put their interests ahead of those of our corporation  
Please note that the language and terminology used in this collection reflects the context and culture of the time of its creation, and may include culturally sensitive information. As an historical document, its contents may be at odds with contemporary views and terminology. The information within this collection does not reflect the views of the Smithsonian Institution, but is available in its original form to facilitate research. For questions or comments regarding sensitive content, access, and use related to this collection, please contact transcribe@si.edu.