Evening journal., 1909-01-08
POWDER HEARING
RESUMED TO-DAY
conl.-.-l rrorn r1rst Page.

shares OF the following companies
which were controlled by the Equit-
able Company. The Monarch, North
western. Birmingham, Globe and In
diana Powder Companies.
Presented Records.
Mr. Olin presented other documen-
tary evidence including tho records of
payments made for oversales and un-
dersales by the Equitable co. to the
European companies in accordance
with an agreement betwee nthe various
manufacturers of powder, known as
the European agreement
Mr.. Scarlet asked the witness if the
Equitable Powder Co. withdrew from
tho 1896 association and Mr.. Olin re-
piled that it did. giving notice to that
effect in the latter part of March. 1908.
This association was known as the
Gunpowder Trade Association and was
organized to regulate the price of pow
der an detc. Iic. said he had been
president of the Phoenix Powder 20.
for seven years, but he resigned, his
resignation taking effect in November.
1903. Whether the Phoenix Company
was at present ineXistance he did not
know.
He testified that the tota lamount of
the payments made 10y the Equitable
Company on account OF the European
agreement amounted 10 s6,06S.S9.
Questioned by Counsel.
Frederick Seymour. an attorney OF
New York, representing the Equitable
Company questioned Mr. Olin on mat
ters pertaining to the affairs Of his
company. The latter said the DUPONT
Company held 400 shares of 1000 i'm the
Equitable Company. He also said that
at noe time were the duPonts repre-
scented in the Board of Directors. Of
five members. of the Equitable Com
pany, by more than two members. He
said the duPonts made no effort TO
control the Equitable Company He
said his company knew nothing Of the
European agreement and explained the
! payments made by the Equitable by
/ saying that the company was mem-
bcr of the Black Powder Trade Asso-
citation and it bore its portion of the
expense of that organization.
In reply to Mr.. Scarlet. Mr.. Oin
said ii,at except for oversales the Equit-
| able Company had not been fined.
There was fine then for over
sales" said Mr.. Scarlet.
There was a penalty replied Mr
Olin.
/ YESTERDAY AFTERNOONS Session
/ At yesterday afternoons hearing Alexis
/ !. DUPONT, secretary Of the defendant
I company. gave testimony concerning rec
ords OF the concern and the companies
either owned or controlled by it.
/ Another witness was Richard Stout,
lie said he never knew Of European
! agreement until he saw on account of il
/ in the newspapers in testimony. IIe said
/ he had heard in a general way of such an
/ agreement but never knew it to be a
/ fact. lie gave testimony showing where
money was paid to the Phoenix Powder
/ Company and where that concern paid
I 10 the DUPONT Company for oversales and
undersales.
/ lie called off list of checks drawn to tho
order of that concern from 1897 TO 1908 and
/ also named two sums of money paid by
/ the Phoenix Company TO the duPonts. The
credits follow: December IS 1897 Si5S6 Sc.
March IL, 1895. $99s September 80. 1899 S..
as6.25: January ., 1900 s6,9101o: March i2
1900. S9.l9i.95; September 49, 1900. Ss4J2Ss
January 3. 1901. S5.0s6 q: December Is. 1901
s3sG5.o7 March ~. 1902 Si9Sl.O7 March 25
l9os. Seoa3.81; July l. 1908. SS.92262
The debts were: June Is, 1902 SS,ilG.S;
and August 2S. 1902. s35l9S9.
When the Phoenix Company was dis.
solved the witness could not say.
William Coyne. who testified at the
morning session. was recalled and gave
figures concerning the sales by the DUPONT
Company of dynamite and other oxplo
sives during 1905, 1905 and 1907 The dyna.
mite sales for these three years were 10.
o1L2l3 l5L75G.7lS Pnd 165.lSG02S pounds re-
spectively. He also gave figures for tho
sales OF other powders.
The witness said that every powder
company in the country aside from IN,
DUPONT Company was considered an I'm.
dependent concern. He said that his com
pauy had sold =. 40 per cent. of the dyna
mite disposed of in the United States las
year: from 65 10 20 per cent Of the black
sporting powder and from 20 TO 20 pei
cent. Of tho smolleless powder.
MI Scarlet asked the witness If he coult
furnish him with an estimate Of the sale,
OF tho independent companies during In,
past year by Friday and Mr. Coyne sait
he thought he could.
e. \. Wcad was called 10 the witnes,
stand but did not testify as it was decide,
TO adjourn until this morning at II o'clock