Evening journal., 1915-08-20
Tsvo Americans Lost In Baltic Tragedy
Continued From First Page.

Continued From First Page
standing there being sl6,Oos 900 of such
stock, can be exchanged share for share
for six per cent. non-voting debenture
stock of the new company; or
Five per cent. preferred stock can be
exchanged for six per cent voting deb
+ enture stock in the new company on a
basis of ss3 l-3 of new six per cent
voting stock for 800 of five per cent.
present preferred stock, with the privi-
lege of exchanging every $50 l-S of such
six per cent. voting stock for 800 of six
per cent. non-yoting stock prior to April
25. 1916.
While the proposed new plan will
mean an increase in income of one
and one-half per cent. to holders of
j 4 1-2 per cent. bonds who make the
: exchange offered. and an increase of
one per cent in income to holders Of
five per cent. preferred stock who
make the exchange offered. the
greatest melon" is that offered to
common stockholders Not only will
they continue to hold their present
shares in the DUPONT Company. but
they viii receive two shares in the
new company for each share they
hold in the present company. While
! Il Is not specifically stated, after the
exchanges of bonds and preferred
stock and new debenture stock are
made. the present DUPONT Company
will have remaining in its treasury
( S29, ,427700 of six per cent debenture
stock of the new company that has
not been parcelled out. This is
equivalent to par on the present COM
mon stock
The proposed six per cent deben-
ture stock follows the form of the old
English security. and is preferred as
TO dividends and as to assets in event
of dissolution of the new company.
Rarely has there been a re-fnanc-
ing project of a great corporation
that has shown such consideration to
holders of all classes of its securi-
ties as that projected by the DUPONT
interests.
While the COMMON stock in the new
company win have a market value of ap.
proXimately one.half the value of the
present dupont common stock. il is ex.
pected that because Of its lower mar.
ket price there will be an active demand
for il, particularly since there is a belief
in well-informed financial circles that
the book value of dupont common stock
is considerably in excess of the present
market price. As an investment. the
new six per cent. stock will take a po-
sition as one Of the most desirable in.
dustral securities in this country, it
was freely predicted today. II was
pointed out that no bonds can be issued
or other lien created ahead of il without
the consent of holders of seventy-fivt
per cent. of the new debenture stock
Because of the wonderful growth OF
the powder business, the DUPONT inter.
ests have expanded into many diversified
and essential industries. among which
may be mentioned the manufacture Of
fabrikoid and the acquisition Of nitrate
OF soda properties in Chile, South Amer.
lea. Nitrate of soda is one of the prin-
cipal ingredients used in the manufsc.
turo of explosives.
The dupont powder industry. which
was originally established in the veal
1902 on the banks of the Brandywine by
the pioneer Eleutherc l. dupont de Ne
mours. an ancestor Of the DUPONT fam
lily. was first incorporated under tb,
name Of +. I. DUPONT de Nemours s
Company, and this coupled with the fact
that the duPonts are staunch and Iowa
supporters of their native State, has re
/ suited in the decision to choose theii
old name L. |. DUPONT dc Nemours q
Company and to incorporate their bust
ness under the laws of Delaware.
II Is officially announced that the
personnel Of the directorate and the
management Of Z. !. DUPONT dc Ne,
mours and Company of Delaware will
be identical with that of the present
, company, which is as follows:
Officers.
President---Pierre s. dupont
Vice-presidents-H NJ. Barksdale
Z. G.. Buckner Frank L. Connable
Alfred l. DUPONT, Irenee DUPONT. vii
i liam DUPONT, J. A. Haskell, Charlie.
, l.. Patterson.
Secretary-Alexis I. DUPONT
q Treasurer-John J. Raskob.
Directors--P. S. DUPONT. chairman
: Henry Belin, Jr. II. f. Brown, K. G
] Buckner, r. r. NJ. Carpenter. Franl
@ L. Connable, William Coyne, A. Fell,
D DUPONT, Alexis I. dupont, Alfred !
I DUPONT. Eugene Z. DUPONT. Franci
I. DUPONT. II. f. dupont. William du
Pont. II. G. Haskell. j. A. Haskell
J. p Laffey. Charles L. Patterson
n John j. Raskob.
I Finance committee-P. s. DUPONT
= chairman Alfred l. dupont, Irene
d dupont, William DUPONT. John j
{ Raskob.
d Executive committee-Irenee du
: Pont, chairman; II. F. Brown. R.