Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-10-27
To the
4h% BOndholders of
E. |. du Pont de Nemours
Powder Company

In accordance with plan announced
in letter to our stockholders dated
August 18th, 1915, the Directors Of our
Company with the consent of more
than two-thirds of the stockholders
have sold the entire properties OF the
Company to E. /. du Pont de Nemours
q Company, a Delaware corporation,
FOR 10000, 100000, payable as follows:
$1,4S4,100.00 in cash;
59,681, 10000 par value in debenture
stock Of e. l. du Pont de Nemours 4
Company.
$58,S64, 10000 par value in common
stock Of E. I. du Pont de Nemours {
Company.
This is all of the stock that will be
issued by e. l. du Pont de Nemours &
Company at this time. The properties
were sold subject to the lien or charge
OF our 4h9o bonds and e. l. du Pont de
Nemours G. Company assumed all Of
the liabilities of our Company except
capital stock liability and funded debt.
There is now offered to our 4heo
pondholders opportunity to exchange
their 4hTo bonds at par for SO cumu-
lative non-voting debenture stock Of p.
l. du Pont de Nemours G. Company at
par. ln other words, for every $1,000
pond there will be issued In exchange
$1,000 par value $50 cumulative non
voting debenture stock OF E. l. du Pont
de Nemours & Company. Interest at
the rate OF Az 20 per annum from June
LIST. to October 25th will be raid on all
bonds exchanged; dividends al the rate
OF $50 per annum will accumulate on
the debenture stock from october 2oth
1915. The bondholders desiring to take
advantage of this offering should for
ward their bonds to the Bankers Trust
Company 16 Wall Street New York
CITY with the name and address IN
which the new debenture stock is to DO
issued. All bonds received in exchanee
hereunder will be retired and cancelled.
The charter of e. !. du Pont De Ne
mours & Company carries the foAoNlhg
provisions for the prote ction OF the ne-
benture stockholders:
Non-voting debenture shares shall
bear cumulative dividends at the rate
OF $50 per annum.
Non-voting debenture shares may Do
called for payment at $l25.OO per
share.
No mortgage or other specific lien
may be placed upon the whole or any
part OF the property of the company
without the consent Of 1870 In amonn'
OF the total debenture stock outstand-
Ing except that this provision shall mol
apply TO purchase money mortgages Or
70 the assumption OF mortgages Or
liens upon property purchased. nor
shall II prevent the pledge for the ppr-
pose of securing cash to be used IN
the ordinary course of the business OF
the company Of securities at any ums
held and owned by the company, pro,
Vided such cash advances are secuieee
on obligations OF the company Win
maturities not more than three yeas
from date thereof.
In case OF dissolution (whether vol
untary or Involuntary debentuIs
shares shall have preference over the
common stock on distribution OF as
sets to the par amount thereof plus ac-
cumulated dividends.
The non-yoting debenture stock shan
nave no voting privileges except 's' :.
IN the event the company shall fall 70
pay any dividend thereon and such de-
Iault shall continue for a period OF ~
months, In which event the voting ana
non-voting debenture stockholders snaH
nave the sole right OF voting 70 the ex'
ciusion OF the common stockholders io'
the ensuing year and for each yea
thereafter until the company shall pa,
al accrued dividends on said debentpt'
Stock and (b) In the event OF the ne
earnings OF the company In any csl
endar year amounting TO less than w
on the amount OF debentnre stock issue.
and outstanding during such calenoal
year then the non-votine debentuI'
stockholders shall have equal v9tln'
rights with the common stoekhoiuen
which voting rights shall continue vn
III the net earnings OF the company 70
some future calendar year snail equ,
s3o on the amount OF debenture stoe'
issued and outstanding in such fu'V''
THE COMPANY RESERVES Ih''
RIGHT TO WITHDRAW THE Ab0f'
| OFFER TO EXCHANGE ~ pc
bENTuRE BONDS OF OUR cD4
PANY FOR 69b DEBENTURE hIOp1
OF y. ]. Du POINT DE NEMOUhs
COMPANY ON DEcEMBEk fst is''
FL. d Poni Dc hsmsuIl Powder cenp''I
JOHN J. RAsKoe. Treasures.