Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1915-03-06
The World Wide War Trust


90 make machinery with which 20
manufacture powder. Dewey went into
his Geht az Manila short OF powder
ven short OF Il. went about the
| country lsctgTinE before clubs and
other organizations explaining why We
we're short % powder and what the
trouble was. The conditions were bad.
[ You should have facilities FOR making
I your own powder and an abundance OF
facilities. There ought 20 be a great
big government plant on the Pacific
coaFt Ia California. Oregon. or Wash
lnEton- AS I say. there ought 20 be a
. government plant on the Pacific coast
IN the Puget Sound district. There
ought % be another In the Mississippi
valley district or the middle west. and
then there should be another on the
east coast With these facilities YOU
would have plants eXteading from
coast TO coast. and the total invest
mcut would be very small.
Question. 2 notice yen refer 20 the
fact that S35 100000 OF common stock
uu1u uhicE a dividend OF is per cent
WAS te-'ared. was watered stock. so
called. Nhat o. tic basis for that
statement:
" waddeu. Tho capital stock of
ths DUPONT trust. watch IS organize 4
unde- the laws OF New Jersey. IS S25.-
COCOON preferred. ana az first. S25.000.-
600 % common. and later increased 10
s-5 .00p.0Oc % comurCn. making the to-
tsl capita. stock see 100000. The pre-
fcrreI stock represented their prop
CTty. their holdings. and their assets
OF al descriptions. and was put on the
market az $50 share. Taking their
own estimate % their cwu wealth at
taat time the complete assets. 20 per
cont % So. 900 Cot would be s17.50O.-
600. which would De the actual value
90 tho assets and the common stock
gEs water. a- % o.
Question. DO YOU know 20 whom the
common stock was issued az the time
% the organization or subsequently
Air Waddeu AZ the death of Eu-
gene DlPout ln January. 1902. the
prsridcat OF the company. the old com.
rHry. three men. r.. O.. Dupont. Pierre
uuFoul and Alfred DUPONT. formed
atar was known aE the Delaware 1902
UarroT tiuu.- with q capital OF S2u.-
100000. and thoy issued $4,000 600 90
stock The cash paid iu by the three
aas $4,000. or 81 900 apiece. The three
mfa-I called tacm the triumvIrate-.
took 90 per cent % the stock. $1,000
600 of the stock. for promotion fees. .
swing 100000 % the stock Co the
1893 Delaware corporation. the old
company and they also gave tie notes
90 This company Tor s12000ooo. uu-
secured Later they formed the big
holding company. che r T. DUPONT de- /
Seuuurr Powder company. OF New
IrrrrF. with a capital 90 $50 100000. +
100000 OF common and s-5.lu0.upt
at preferred These three fellows. tho
fFIlmElrafr. for their Delaware cor
r1satou. of which they owned 20 peg
cent. took about IS per cent % The
combined common and preferred stock. .
.Ge control OF o.. l1T promotion fees. /
and fEcg made the Srw jersey cor
Gurafi1u pass a resolution guarantee
ms payment OF the Si2.0lO.OD1 that
.ury had given the Delaware corpora
ton FOR tho purchase OF their stock.
tuL theF lii &c. The total Investment f
1f the three men iu the DUPONT trust
EaE $4,000 .u cash. that IS all the
money they ever uut in 90. and that IS
.he testimony of Pierre Dupont. treas
IFrr OF the trust
Question Iu the governments
sasrf
or. WaddclL Yes. You can get it
Ia tile br.ss OF the f1cts. Sc you desire