New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-20
To til e 41zR thirty-yeat
gold bondholders of E.
|. du Point de Nemours
Powder Co.

Under the terms OF the fnal decree On,
tered by the Circuit Court Of the United
States In the suit OF United States Of Amer.
lea against f. !. du Pont de Nemours Pow.
der Company and others, II has been nscss-
sary to create two new companies as follows:
The Hercules Powder Company, a Dela.
ware corporation, whose total assets will az.
gregate approximately Sl3,000000 This
Company will. issue $4,000 900 par value OF
90 ten-year gold bonds, redeemable at l02s
and interest. The estimated earnings o. the
Company are equal TO three times the annual
interest charge Of $4,000 on their pro-
posed bond issue. The entire interest oa
these bonds will be guaranteed by E. l. Gu
Pont &c Nemours Powder Company.
The Atlas Powder Company, Delaware
corporation, whose total assets Will aggrs-
gate approximately $7000,O00 This Com.
ten-year gold bonds, redeemable at 1927 ana
interest The estimated earnings Of the
Company are equal 10 three times the annual
interest charge Of $4,000 on their pro-
posed bond issue. The entire interest on
these bonds will be guaranteed by E l. d.
Pont de Eemours Powder Company.
The Trust Agreements, under which thsss
bonds will be issued, may be inspected Al
the office OF Guaranty Trust Company Of
New York, as soon as the forms Of bonds
are approved by the Court.
The decree REQUIRES that both ne soooooN
OF Hercules Powder Company bonds and the
1900, 900 OF Atlas Powder Company bonds
shall be delivered to K. l. du Pont De
Nemours Powder Company In part payment
for the property tTdUSIeTTeu DV the ldtter 70
these two new companies. The decree fur.
Their requires that one-half OF these bonds,
10 witt SO. 600 par value OF SO tsn-year
gold bonds OF the Hercules Powder Company,
and 81. 500 900 par value OF 81 ten-year gold
bonds OF the Atlas Powder Company or the
proceeds thereof shall be distributed.
z. I. Lu Pont de Nemours Powder Com.
pany to comply with this condition have sod
the bonds Just referred to- to wit, 10000
Hercules Powder Company, and $1,000 900
Atlas Powder Company at par and accrued
interest to a Syndicate, with the provision
however that the holders OF the 4h% thirty
wear gold bonds Of T.. J. du Pont de Nemou1
Powder Company shall be given the PRO,
right to purchase these Sc bonds at par and
accrued interest, provided payment therefor
is made with the 4lAee thirty-year gold bonds
OF E. du Pcnt de Nemours Powder Com
pany, valued at 5000 per bond.
= /. du Pont de Nemours Powder Com
pany are. therefore, now extending 70 ther
4keo bondhoIders the privilege OF subscribing
to $4,000, 900 Of Hercules Powder Company
bonds and $4,000, 900 Of Atlas Powder Com.
pany bonds under the following terms and
conditions:
list. II not exceeding SO. 900 Of tn.
400 bonds are offered for exchange, each
bondholder shall be entitled TO receive $500
par value OF Hercules Powder Company and
$500 par value in bonds or Atlas Powder
Company, I'm exchange for each $1,000 par
value in 4het bonds OF the E. l. du Pont
de Nemours Powder Company held by him
As the total amount OF these new bonds
available for exchange aggregates 100000
and is therefore insufficient TO exchange the
entire authorized issue OF sl600O,0Oo e
du Point lie Nemours Powder Company 40
bonds outstanding, the right Is reserved to
decrease the allotment pro rata 70 each bond
holder in the event or over-subscrfption
Thus. II only $4,000. 900 Of the 4iass bond,
are offered in exchange, holder OF $1,000
of such bonds will receive:
$4,000 Hercules bonds at par. 900
$4,000 Atlas 5000