The Birmingham age-herald., 1915-06-18
which Colonel du Pont perfected his plans and built this great structure

l which Colonel du Pont perfected his plans and built this great structure. It has been the understa nding that he was aided iI tine financing of this SJ the Equitable Life Assurance company itself. That may be the reason. in view of the fact that 1t has been presumed
 that the estate of the late J Pierpont Morgan would sell the majority stock
 which was bought some years ago by
 MT. Morgan provided terms and purchaser were satisfactory why Colonel du Fonts
 name has occasionally and in surmise
 been mentioned as the possible purchaser. It goes without saying that the Morgan estate would not have sold this stock had there not been assurance that the trus- tee policy whereby the election of direc- tors is exclusively in the hands of three trustees would be maintained.
 The late George Westinghouse was one of the three trustees who were named by Thomas F. Ryan after he bought ma jority of Equitable stock Grover Cleve- land and Morgan J. O'Brien being the other two. MT. Westinghouse, when he had leisure, was fond of talking informal ly about the methods adopted by the trus- tees and also the probability of ultimate naturalization of the company. How per fectly was faith maintained in these trus- tees was revealed at the time MT. Nor gan purchased the Ryan interest. The deed creating the trustees was deposited with safe deposit company. and Mir. Morgan did not see 1t until after he had secul ed control. It was not until after the Morgan purchase was withdrawn from the safe deposit box and in that fact is to be discovered the absolute fidel- ity with which the trustees fulfilled their duties.
 MT. Westinghouse sometimes said that not until either by legislative enactment
 or in some other satisfactory way could there be reached an agreement by means of which the poicyholders would get pos session of this stock would complete naturalization be made possible. A serious question, in MT. Westinghouse opinion.
 was raised when the proposition involv- ing the purchase of the stock for the policyholders was under discussion. No individual or any group of individuals would came to pay N,0000oo or whereabouts
 for stock of the par value of s1O0,OOo which
 was limited to per cent dividend mere ly as an investment. If the policy holders wanted to wipe out the stock
 there seemed only one way to do 1t, and
 that was to take from the surplus as
 much as would be necessary to secure the stock. A good many policyholders objected to this and in this objection was the obstacle to naturalization. The legis- lature at last did something which Mir. Westinghouse recommended, for it author ized the use of the surplus or such por- ton as was neCfSSdTy lOT lHe purcHdSc of this stock. Undoubtedly Colonel du Pont looks ahead to the time when there
 will be agreement that the surplus be
 drawn upon to pay for this stock. In that event. he will receive no more than he paid for the stock. plus interest. Then. the policy holders having bought the stock. it can be cancelled and a way will be opened for perfect naturalization of this company.
 The Governments Appeal When the hearing in the proceedings brought by the government to dissolve the United States Steel corporation was in progress there seemed to be tacit un-
 derstanding that if the circuit court sus- tained the Steel company unanimously the department of justice at Washington would not think it worth while to appeal. And now, although the Attorney General is reported to have decided to make ap- | peal, still the feeling is that-in any event | not until the supreme court has decided | the International Harvester company l case-will the appeal be pressed, and if | the court should give de- sion in favor l of the Harvester company basing its opin- i ion upon the argument offered by the counsel for the company, then the Attor- l ney General would be disposed to look upon 1t as waste of time and expense l to press an appeal from the circuit courts decisl6n h the United statss Steel cor~
 poration;s sase.