The Penn's Grove record., 1913-03-07
Official Wind-up of Powder Trust

Officially and legally the Powder Trust
has been shattered, and is now a thing OF
the past, Judges Gray, Burlington and
MCPHERSON have approved the report of
the dissolution of the Trust, as submitted
by Attorneys j. P. Laffey, of Whining
Ton, and George s. Graham, of Philadel-
phia, William A. Glasgow, Jr., represent
ed the Government as special counsel,
and had no objection to offer to the re-
revised report, and the Court entered it's
decree of approval.
The report sets out that the E. l. du-
Pont de Nemours Powder Company. the
Hazard Powder Company, the Delaware
Securities Company, the Eastern Dyma-
mite Company, the California Invest
ment Company, the Judson Dynamite
and Powder Company and the Latin &
Rand Powder Company have all been
dissolved; that two new corporations
namely, the Hercules Powder Company
and the Atlas Powder Company have
been organized under the corporation
laws OF Delaware, which, with the du-
Pont Powder Company make three separ-
ate corporations now engaged in the
business.
ORGANIZATION OF NEW CONCERNS.
The Hercules Powder Company has a
capital stock of $40, 900, 900 divided into
10000 shares. The officers and direc-
tors are r. III. Durham, president; j. L.
Sicily, vice-president; Il. w. Bacchus,
vlce-president; q. FL. Markell, secretary
and treasurer, and F. w. Stark.
The Atlas Powder Company has a CAP
ital stock of SIS, 600, 600, divided into 5O,-
600 shares. and it's officers and directors
are w. j. Webster, president; ]. F. Van
Leer, vice-president; w. A. Layfeld,
vice-president; E. B. Coy. secretary and
treasurer. and John s. Scott.
None OF these persons has ever been an
officer or director of the Trust, but all
We're employees experienced in the bust
ness.
APPoRTIoNING THE PLANTS
The following plants have been trans
ferred to the Hercules Powder Company:
For the manufacture of dynamite, the
plants at Kenville, N. j.; Marquette,
Mich, and Pinole, Cal. For the manu-
facture OF blasting powder, the plants at
S~osendale, N. Y; Ringtown, Pa.
Youngstown, O.; Pleasant Prairie, Wis.,:
Turck, Kan, and Santa Cruz, Cal. For
the manufacture of sporting powder, the
plants at Hazardyille, Conn, and
Schaghticoke, N. Y.
The Atlas Powder Company will own
and operate the plants for the manufact-
ure OF dynamite at Hopatcong, N. j.,
Senter, Mich; Atlas, Mo-, and VigorIt,
Cal, and the powder plants at Riker,
Pa, Shenandoah, Pa, Ooltewah, Pa,
Belleyille, H., Pittsburg, Kan, and Pat
terson, o.
The valuation Of the Hercules Com
pany's plants, together with the con-
tracts, patent rights, processes, trade
marks, brands, good will and other ill.,
tangible property included in the trans
fer, is SIS, 600, 900, and OF the Atlas Pow
der Company, $6, 100000.
WHAT THE DUPoNTs KEEP
The dupont Powder Company in addi-
ton to the plants at Carney's Point, N. J.
and Haskell, N. j., for the manufacture
of smokeless Powder principally for the
United States army and navy, retain the
plants at Ashburn, Mo-, Barksdale, Wis,
DUPONT, WASH, Emporium, Pa, Hart
ford City, Ind, Louviers, COL, Gibbs
town, N. j., Lewisburg, Ala, for the
manufacture of dynamite and for the
manufacture of blasting powder the
plants at Augusta, Col, Copuayks, Ala,
Oliphant Furnace, Pa, Mooar, Ia, Mem
ours w. Va, and Wilpen, Mimi, and for
the manufacture OF sporting powder, the
plants at Brandywine, Del and Wayne,
N. J. The valuation placed on these is
$10.S14, 70S. 10.
There Were q companies named AS de-
PENDANTS i'll the suit of the Government
to dissolve the Trust, and according to
the report the Courts decree has been
complied with, and by the formation OF
the two new companies and the distribu-
ton among them of the different plants
and other property the dupont Company
now retains 81 per cent. OF the dynamite
capacity and 40. 0S per cent. OF the pov-
der business.