The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-27
To the
412% Bondholders Of
E. |. du Pont de Nemours
Powder Company

II a~ccoTuance WIN plan
IN letter to u stockholders, dated
august 18th, 1915, the Directors of
our Company with the consent of
more than two-thirds Of the stock
holders have sold the entire properties
OF n Company to y. I. du Point de
Nemours Il Company. a Delaware cor
poration, for $40, 900, 900. 90, payable
az follows.
el.4S4,10o.oO in cash;
S59.66l. 10000 par value i'm dehen-
ture stock Of II. 7. du Pont de Ne
mours x Company:
*5S,s54. 10000 par value in common
stock or r. !. du Pont de Nemours 4
Company.
This Is all Of the stock that will he
issued by f. I. du Pont de Nemours 4
company at this time. The properties
were sold subject Ia the lien or charge
~ our AZ bonds and T.. I. du Pont
de Nemours a Company assumed all
OF the liabilities Of our Company ex-
cept capital stock liability and funded
debt.
There is q offered to our az
b%ondholders opportunity To exchange
their AZ bonds at par for 60 cumu-
lative non-voting ~debenturc stock If
r.. j. du Pont de Nemours n Company
AT par. In other words for every
y 1000 bond there will be issued in ex-
change VI 900 par value go cumula-
tive non-voting %debenture stock of
r. |. du Pont de Nemours A. COMPANY.
interest at the rate Of p r per an
mum from June LIST 10 October 25th
will he paid on all bonds exchanged;
dividends at the rate Of Sc per annum
will accumulate on the ~debenture stock
October 25th, 1873. The bond
holders desiring to take advantage of
this offering should forward their
bonds to the Bankers Trust Company,
lS Wall Street. New York CITY. with
the name and address in which the
new stock is To he issued.
All bonds received in exchange here
under will be retired and cancelled.
The charter OF r. /. du iunt de Ne
mours Il Company carries the follow
ing provisions for the protection of
the d~ebenture stockholders:
Non-voting d~ebenturc shares shall
bear cumulative dividends at the rate
OF 60 per annum
Non-voting ~debenture shares may
he called for payment At $l25.0O per
share.
No mortgage or other specific lien
may be placed upon the whole or any
part of the property of the
without the consent Of 15Nc in amount
OF the total d~ebenture stock outstand-
ing except that this provision shall not
apply To purchase mons tga
or to the assumption Of mortgage or
liens upon property purchased. nor
shall II prevent the pledge for the pur-
pose OF securing cash 10 he used in
the ordinary course NJ the business of
the company of securities at any time
held and owned by the pro-
vided such cash advances are secured
on obligations Of the with
maturities not more than three years
from date thereof.
In case Of dissolution whether vol
untary mr. Involuntary dehentura
shares shall have preference over the
common stock on distribution Of assets
TO the par amount thereof plus acCu-
INFLATED dividends.
The non-voting dehonture stock
shall have no voting privileges except
td) in the event the company shall
fail to pay any dividend thereon and
such default shall continue for "A
period Of six months. In which event
the voting and non-voting %debenture
stockholders shall have the sole right
OF voting Ia the exclusion of the com
mon stockholders for the ensuing year
for each ear thereafter until the
company shall pay all accrued divi-
dends on said debcnture stock: and
,bD in the event Of the net earnings
Of the company in any calendar year
amounting to less than &c on the
amount of ~debenture stock issued and
outstanding during such calendar year
then the non voting debenture stock
holders shall have equal voting rights
with the common stockholders which
voting rights shall continue until the
net earnings Of h company for some
future calendar year shall equal o."
On the amount Of dobenturc stock is
sued and outstanding in such future
year
THE COMPANY RESERVES THE
RIGHT TO WITHDRAW THE
ABOVE OFFER TO EXCHANGE
Az DEBESTIRE BONDS OF OUR
COMPANY FOR Sc DERENTURE
STOCK OF II. |. DU POINT DE NE
MOtRS a. COMPANY on DECEM-
BIER lsT. 1918.
{. |. du Pont de Nemours Powder Company
JOHN !. RASkOR, Treasurer.