Evening journal., 1915-12-09
continued from Flrst Page.

upon the stock acquired from 1. Cole-
man DUPONT.
He further asks that a decree be
entered declaring it to be the duty OF
the holders of the 4. c. DUPONT stock
70 assign and transfer it to E. |. du-
Pont de Nemours and Company upon
reimbursement Of cost of acquiring
said stock from T. Coleman dupont,
together with expenses incident
hereto. and also requiring the indi-
yidual defendants and each OF them
20 account to Il. !. DUPONT de Nemours
and Company from any individual div
ldends received on the stock acquired
rom T. Coleman dupont.
He further prays that a decree be
entered requiring that the matter of
the acquisition of the shares OF stock
OF T. Coleman DUPONT. or the pro-
ceeds thereof. in the stock of E. /. du-
POnt de Nemours and Company be
submitted to the board of directors
of E. /. dupont de Nemours and Com
pany for its action, and that the in
dividual defendants, members Of the
board of directors OF the Il. l. DUPONT
de Nemours and Company and inter
ested in tho acquisition of the stock Of
0DANAhoh IOlAA anu AliN uuA Oul
Securities Company, or otherwise, be
enjoined from voting at the meeting
OF the board of directors aforesaid.
Judge Bradford issued a subpoena
veturnable December 2S. which was
served today on the defendants.
There is no action thus far in tho
suit that will prevent the payment OF
the thirty per cent. dividend on the new
DUPONT common stock on December ~
although the declaration Of that dividend
is attacked in the suit.
Philip +. DUPONT, the complainant
while a stockhoder is not an officer OF
the powder company. He lives at Mor
ion, Pa, and is prominent as yachts
man. He is represented by John G.
johnson. William Glasgow, Jr., anC
Henry p Brown, of Philadelphia, anC
Robert Pennington, of this city. Mr.
johnson, who it is understood drew tn,
bill, is one of the foremost lawyers o
the United States
Philip +. dupont in his complaint
asks that the honorable court vii
grant TO complainant not only the VIII
of injunction as hereinhefore prayed bu
also a writ Of subpoena directing anl
commanding the defendants to appca
and make answer at a time fixed by th
court under penalty therein TO b
named, and then and there full answer
make to all and singular premises. In
not under oath, answer under oath he
ing expressly waived, and further {
stand to. perform and abide such orde
and decree herein as shall to the cour
seem meet"
The complainant alleges in the bill
that he is the owner of 6sj shares q
stock in +. l. DUPONT dc Ncmours an
Company, $40 shares Of common stoc
Of T.. J. de NemOurs Powder Company
and was at the time Of purchase OF
Coleman duPont's stock the owner &
ass shares cf preferred and 49, share
of common stock in the old company
Mr.. DUPONT saws he brings the actio
in behalf Of himself and7 such 9th,
stockholdcrs who may contribute an
become parties To IL.
Mr.. DUPONT in his bill recites ths
T. Coleman dupont resigned from tn
board of directors If +. l. dupont
Nemours Powder Company on Marc
6. 1915. and A. Felix duPon was ten
porarily elected to fill the vacanc.
Correspondence relating to the tram
action during December. 1914. is Sc
forth in the bill. one letter being tha
of T. c. DUPONT as president of tn
company to the finance committee {
the company on December %. 1871
which was presented by Pierre S. dl
Pont. vice-president. Offering to Sc
10000 shares of the common stock {
the company at S160 per share. an
onr,4r,,fffna 10
ed the question of purchacing In
stock on behalf Of the comply, an
unanimously concurred in the opinic
that a purchase of the stock Tor II
company was to its advantage. and a
ter discussion a resolution was move
that Pierre S. DUPONT be instructe
TO advise L. Il. Dunham, attorney Il
T. Coleman DUPONT that the finan,
committee do not feel justified
paying more than S125 per share f
This stock at this time Pierre S.
Pont. voting in the negative on sa
resolution, and members of the Fl
ance committee being at the tin
Pierre S. DUPONT. chairman; 7. Col
man DUPONT. Alfred !. dupont al
William dupont.
Continuing the bill alleges tn
when. however, the resolution afoi
said of the finance committee VI
Transcribed upon the minute book
appeared as follows:
Mr. p. S. DUPONT presented a le
ter from Mr.. 7. c. DUPONT. Offering
sell 20, 700 shares of common stock
this company at S160 per share.
ter discussion. il was moved and ca
ricd (Mr. p. S. DUPONT voting in q
negative) that Mr.. p. s. dupont
instructed to advise Mr.. L. l.. Du
ham. attorney for Mr.. r. c. duPoi
that we do not feel justified in payil
more than SIPS per share for II
stock. inadvertently leaving off t
words at this time which were
fact a part Of the resolution as adoI
cd by said finance committee
The complainant sets forth his
lief that the unanimous feeling of I
committee was in favor of the pt
chase OF the stock as advantageous
The L. I. DUPONT dc Nomours POwd
Company, and it was thereto
thought desirable TO express TO
Coleman dupont, through Pierre
dupont. vice-president, that it "
thought that the price. TO wit 81
per share. was too high, and the he
was felt by the members of
finance committee that the S;
Pierre 5. DUPONT might secure /
ter proposition for the purchase
the stock IRON r. Coleman DUPONT
"On or about the lOsh of fcbru'
1915, fearing that I. Coleman dup
- hal not understood the position Ia
s the members Of the insncc conn
ice Alfred I. duPcnt requested of Pi'
:. dupont that i, would furnish to