Evening journal., 1915-08-20
DUPONT POWDER
BUSINESS TO. Be
sold TO new CO.
Continued from Page Two.

share of common STOCK IN our com- 1
oany will continue to hold it and in /
addition will receive two shares of the /
common stock of Z. /. DUPONT de Ne |
mours g. Company.
The above plan has been worked |
out as the result of the most mature /
1eliberation and we are confident that !
it will appeal to our security holders
as most desirable.
We, therefore. request you TO sign
the attached form of assent TO the
carrying out of this plan and return IL
to us al your earliest convenience.
being careful to sign exactly as your
name appears on your stock certifi-
,ate.
Any information in connection with
the matters herein referred to will be
cheerfully furnished upon request,
Respectfully submitted.
Pierre S. DUPONT.
President.
Assent of Stockholders.
ITO be signed and returned to p. s..
DUPONT. PRESIDENT
Whereas, The board of directors of f.
I. DUPONT de Nemours Powder Company
have approved plan for readiusting the
financial affairs of that company, which
plan may be summarized as follows;
(a). A new corporation to be known
as E. |. DUPONT de Nemours and Com
pany will be incorporated under the
laws of the State of Delaware which
company will have three classes OF
stock, viz: 6 per cent cumulative voting
debentre stock, per cent. cumulative
non-voting debenture stock and common
stock Except as to voting powers, the
rights of each class of debenture stock
shall be identical and shall be as fol-
lows Cumulative 6 per cent. dividends
payable quarterly, with preference upon
any distribution Of assets to the extent
Of 500 per share and accumulated div
dends in case of dissolution whether
voluntary or Involuntary; the non-vOt-
ing debenture stock 10 have voting
rights in common with the voting rights
in common with the voting debenture
stock. and to the exclusion Of the COM
mon stock in case the company shall fail
to pay any quarterly dividend thereon
and such default shall continue for a
period of six months, and to have equai
voting rights with the voting debenture
stock and common stock in case the
earnings in any year shall amount 10
less than Q per cent. of the amount Of
dcbenture stock issued and outstanding;
both classes of debenture stock TO be re-
deemable at any dividend date at 1925
per share; no prior lien to be placed
upon any Of the property of the corpo-
ration without the consent of three
fourths Of the combined debenture
stock but this shall not apply 10 current
allegations for the procurement Of work
III ~hr1 -
run fer more than three years from the
date thereof.
lbl. To sell, assign. convey and trans
fer TO F. ]. dupont de Nemours and Com
pany all the assets of every nature Of
7. ]. dupont de Nemours Powder Com
nany. subject to all the liabilities Of
that corporation, including its bone
issues, and subject to any lien OF charge
securing any of said obligations, all o
which obligations shall be assumed by
p. / DUPONT de Nemours and Company.
Tn consideration therefor the Della
ware corporation to pay 81 ,4s4. 100 II
cash. 5ss. .542 shares of the common stocl
and 596.6l7 shares of the debentur'
stock of Z. I. DUPONT de Nemours and
Company.
(c). The E. I. DUPONT de Nemours
Powder Company to redeem its per
cent bonds at los per cent. In cash ;
to offer to the holders OF its 1-2 per
cent. debenture bonds ten shares of
said non-voting debenture stock for
each 1000 Of said bonds; to offer
TO the holders of its preferred stock
at their option either one share of
said non-voting debenture stock for
each share of said preferred stock. OF
sS3 1-3 par value of said voting
iebenture stock for each share of said
preferred stock. and in case the latter
option is exercised will further, al
any time prior to April 25. 1916, ex'
change any such voting debenture
stock for non-voting debenture stocl
by giving therefore one share of non
voting debenture stock for eacl
$50 1-3 par value Of said voting de-
benture stock;
And, Whereas, Under the charter o.
said E. l. DUPONT de Nemours Powder
Company, the written assent of two
thirds in amount of the stockholderI
of said company is necessary to salt
sale. conveyance. assignment anC
transfer of its property, assets, rights
and privileges as an entirety;
Now. Therefore. We, the under
signed stockholders of f. l. duPon
ie Nemours Powder Company. hereb!
assent, for and on behalf of all th
stock in said corporation held by u
respectively, to the sale. conveyance
assignment and transfer of all tn
property. assets. rights and privilege
Of said corporation as an entirety Il
f. I. DUPONT de Nemours and Com
pany hereinbefore referred TO and 70
the consideration hereinbefore men
TONED; and we further authorize IN
directors of said corporation to TAX
steps as may be necessary to carr
out the same.
This assent, however. shall not be
come effective until such time as J
l. DUPONT de Nemours and Compan
shall have been organized, and tn
board OF directors of said E. I. duPon
de Nemours Powder Company sha
have passed resolutions authorizin
said sale, conveyance, assignment an
transfer, as above procided, for tn
consideration above mentioned. an
further shall have authorized the OF
fers of exchange OF the said securitie