Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-12-30
ANTITRUST ACT BREAK
SOUGHT IN DU POINT ROW
from Page One

Continued from Page One
1902 and dissolved June 1S. 1912, by a de-
cree of the District Court of the United
States, on the ground that it's existence
constituted violation of the Sherman
antitrust law.
The Court found that the old e. l. du
Pont de NemourS & Co. was stock
holding company, in which powerful in
terests were pooled to such an extent
as to effectively control the affairs OF
the consolidated powder companies. AS
a result of the court decree, the holding
company was dissolved and the manu-
facture of explosives was divided among
the present Il. |. du Pont de Nemours x
Co., the Hercules Powder Company and
the Atlas Powder Company.
1t is understood the Department of
Justice is now working on the theory
that the new du Pont Securities Company
was conceived and is operating to ac-
eompliSh the same purpose for which the
dissolved stock holding company existed,
namely, for the pooling of the present IL.
/ du Pont de Memours & Co. stock in
such way as to control the aftairs OF
this enormous corporation.
In addition to the companies defendant
In the dissolution suit, decided June l3,
1912, certain individuals were found guilty
OF maintaining a combination in re-
straint of interstate commerce in powder
and other explosives and have monopo-
lied part of such commerce." in viola
ton of the Sherman law.
These individuals We're:
T. Coleman du Pont, Pierre S. du Pont
Alexis l. du Pont Alfred 1. du Pont. Eu-
gene du Pont. Eugene e. du Pont. Henry
#. du Pont. Irenee du Pont, Francis l. du
Pont, Victor du Pont. Jr., Jonathan A
Haskell, Arthur j. MoXham, Hamilton
II. Barksdale, Edmund G.. Buckner and
Frank l.. Connable.
The court decree ordered that these de-
fendants be "enJoined from continuing
the combination and monopoly, and that
the said combination and monopoly be
dissolved"
The suit now being brought by Philip
T. du Pont to dissolve the du Pont Securi-
ties Company alleges that the stock hold
ings of the Securities Company largely
comprise that formerly held by the dis
solved companies.
NAMING OF MORGAN & co.
The question which nearly every banker
In Wilmington is asking Is upon what
ground can the Government Intervene
The most sensational feature of the case
thus far brought to light is the fact that
Morgan & Co. has been named by Pierre
du Pont, who is president of the powder
company and the holder of the largest
block of du Pont Securities stock, as
$40 WALNUT NIlO hcBOtidbSI po'o"V'S'V
loan which was used to make the first
cash payment to II. Coleman du Pont for
his 63,31i shares of common stock at 500
share Crecently it touched $1,000 a share),
and 1859 shares of preferred at $50. Ac-
eording to dispatches from Washington,
il Is reported that the Morgan interests
assured President Wilson that the COM
pany acted only as fiscal agents for the
Allies and was not interested in any of
me industrials which supplied material
to the warning nations. Morgan & Co. re-
tained 10 per cent. of the loan, according
70 the answer filed by Pierre du Pont in
the present equity suit, This whole trans
action is being investigated by the Gov
ernment
An attorney for Pierre S. du Pont told
: reporter for the EVENING LEDGER that
Morgan & Co. simply acted as brokeuT
Tor the loan. which was oyersubseribed.
the most involved question is that which