Evening journal., 1912-02-27
GREATEST
YEAR FOR The
DUPONT co.
Much Of Increased Profit
Will Go to Customers in
Lower Prices
NET EARNINGS GO
BEYOND SIX MILLIONS

The annual report of the E. l. du-
Pont deNemours Powder Company
was issued today The year 1911,
though not one Of generally active
business throughout the United
States. has brought to the company
the greatest year in its history. The
condition OF the company, it is set
out, is extremely healthy. notwith-
standing the fact that the factories
OF the concern are not fully occupied.
A dividend of i've per cent on pre-
fered stock and twelve per cent. on
common stock was paid during the
year The net earnings for the year
were S6,544,7OS. There is an accumn-
lated surplus of S16.662755.
Should business actively resume in
this country 'the company expects the
showing TO be still more satisfactory,
though, following a policy adopted by
the directors the report states. a
considerable measure of the increased
profit will be given to the company's
customers, through reduction In
prices.
On account of the extremely slow
growth in general business during the
past four years the report states,
tho company has not needed for ex-
tension Of business funds In addi-
ton to those already provided through
tho sale of securities and investment
of surplus earnings This condition,
the report further states, cannot last
indefinitely, and it seems reasonable
to expect further Offering Of new
stock. though probably not within
the next twelve months.
Tho report shows a new total cash
Investment for the year of $l,5ll,-
729. 25. making "A grand total OF S2o,-
269, 1857 invested since August l.
1908.
Referring to the company's case IN
the United States Court the report
states:
"As the stockholders have already
learned from the daily journals an
interlocutory decree was issued by the
II. S. Circuit Court in the suit of the
u. S. Government versus this company,
October 18th last was fixed by the
Court as the date for the hearing. 20
determine the exact nature of the final
decree. but this date was postponed
and is now fixed for March 4th. The
officers and directors of the company
have experienced great difficulty in
learning in what ways or particulars
our operations have violated OF are
violating the Antitrust Law, and,
therefore, Il has been dinicult TO de-
termine what steps should be taken
I'm order that we should fully comply
with this law. However. a suggestion
as to the character OF final deere,
! has been elaborated for submission tC
the Court, and we trust that this veX-
atious matter WILL In the near future
be finally disposed Of The eNpendi-
ture of money and time which this liti-
cation has imposed upon the company
has been very heavy, so that the in
! furious effects of an adverse decree
will to a material extent be Offset by
cessation of these expenditures
which have already covered a period
OF more than four years"
The report shows that there were
2.163 stockholders Of the company in
I
employees of the company, a situation
which is a source of qualification C
the directors.
The company is continuing the plar
ofof Offering stock to its employees ant
also the plan of distributing number
Of shares of common stock in the wa,
of bonus to those OF the employees VIII,
have earned additional compensation
through exceptional effort and attain
ment Under this plan, since its Ia
ception. there have been distributed al
: bonus S30S shares of common stock
while under the stock subscription
j, plan there have been purchased b.
employees 6910 shares of preferre
+ stock and -OS1 shares of common
stock.
The pension plan of the compan
Q remains In force as heretofore an
the total expenditure for pensions ha
9 now reached a maximum (Sl21 53O.s
during the year 19l1) A definite per
> sion system has been in force for
10 few years only. At the beginning n
l. annual increase in pensioners W,
large. but at present a balance b.
e. tween the annually added pensioneI
sl and those who fall from the list seen
'i TO be established
y The company has continued throug
out the year a regular dividend OF
s. per cent quarterly on the commG
N stock and. in addition, an extra qua
y terly dividend of / per cent, makif
Is a total of II per cent paid during Il
year.
u The report is signed by pierre
dupOnt acting DroSidcnt ~