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I believe that the ratio of profit sharing is much too high.  George thinks so too.  But since the Government politicians are taxing so mercilessly "excess profits" it is better to divide the profits with the employes, than to put it in the hands of our vote-buying political administration in Washington. - I have lent to the Company $100000.00 without interest so that they should not have to borrow from the bank during thesedays when such large cash disbursements have to be made.  The net profits (before taxes and bonus) were for the year 1937 about 1,900,000.00, decidedly higher than last year; notwithstanding the violent business collapse which has occurred during the last weeks before the end of the year.  Prospects for earning
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on account of increasing debts of the U.S.A and ever increasing spilling of money, together with the war in the Far East and in Europe look rather dark.  This evening I paid a visit to Dr. Kurt Ripper and his wife at their hotel (Central Park Hotel) and had a friendly chat with them.
[[underlined]] Dec 27 [[/underlined]]  At office.  This afternoon the new Movie of Bakelite was shown to the members of the Baekeland family, in the counsel room of Bakelite Corportation.  Present besides myself Celine Baekeland, Celine Roll, Brooksie Baekeland, Hendrich Baekeland Roll, Celine B. Roll, Nina Baekeland, Peter B. Roll
Absent:  George B & his daughter who had other engagements.  Also present: Men Holmgren &
[[left margin]] (This was on afternoon of [[underlined]] Dec. 29.) [[/underlined]] [[/left margin]]