Evening journal., 1916-06-30


soldiers light blue. for that's the color
The minutes of special meeting of |
the board Of directors on January 10. |
1916, two days after the above letter 1
was sent out, were put in evidence |
and read These minutes showed that /
In accordance with the recommends
tions OF p. S. DUPONT, the board re-
moved Alfred l. DUPONT from the |
various Offices specified. after a full /
discussion of the matter. The resolu
tion removing Alfred l. DUPONT was |
offered by lrenee DUPONT and second |
ed by John j. Raskob.
All directors present. the minutes |
i showed, voted for the removal Of Al |
\ fred l. DUPONT from his offices with |
the exception OF Francis /. DUPONT !
voted mo" and Alexis l. DUPONT was
recorded not voting, as he thought
more time should have been given
for consideration Of the subject
Mr.. Glasgow was seeking to get in
evidence the notice that Alfred l. du-
Pont received telling him OF his re-
moval from Office by the board OF di-
rectors when counsel had another
tilt.
Mr. Graham was addressing the
court in making objection TO this
notice. when Mr. Glasgow turned TO
him and started TO talk.
Address the court, not me-" said
Mr.. Graham.
III / don't hear you can't reply"
Mr.. Glasgow stated
Sometimes you can't even them"
retorted Congressman Graham.
5 That's true" replied Mr.. Glasgow,
and asked Mr.. Graham what he was
n taking up the time OF the court for
i ohjecting so much.
:. "Weu, that's the difference between
myself and my friend on the other
l. side. When ! am in error / admit
" it, he never" Mr.. Graham re.
n marked.
ID "Well. / am open to conviction
= but / would like to see the fellow
,t who can convince me- Mr. Glasgow
! retorted which remark caused a
4 broad smile i'm the court room.
a Some time was occupied in a
wrangle between counsel over the
a minutes, which would show the de-
\ positories of the company and who
I had the selection OF these deposit
/, tories from January /. 1914, to March
= 81, 1915. Eventually the finance
committee minute books for that
length OF time we're turned over TO
10 the complainants by the defense As
it will require some time to get from
the minute books the exact data that
is required. this line of examination
q was abandoned for the time being.
a Changed His Mind.
Mr. DUPONT was questioned by Mr..
Glasgow as to what caused him to
o change his mind between the time Of
r the meeting of the finance committee
o on December %. 1914, when he
thought Si60 a share was too much
o for II. G. duPont's stock and the meet
ing of the board of directors held
l. March TO- 1915. when he offered a
resolution TO buy the same stock for
o 5000 a share.
He replied that on December % the
}. old company had contracts for fur
s nishing 100000 pounds Of powder
e 10 the Allies and that on March II the
company had closed or was about tC
e close contracts for 100000 600 pounds
I OF powder for the Allies. The witness
/ said. 81 felt that the company was
r then placed in a position where Il
d had no alternative but to purchase the
II 7. c. dupont stock at any price" II
o stated that il was his opinion that the
u company at some time would have
u to meet the obligations incurred by
" the dupont Securities Company In
" buying this stock
y Mr.. dupont was then asked whal
" percentage OF the price OF this stock
n the company has paid since March l
70 1915 and he replied $lS3 share on
n the old powder company's stock.
1t Mr.. dupont was next questioned as
ID TO the dividends that have been paid
4. by the old company and the new COM
le pany from March IS. 1915, until the
le present time He testified that the
total dividends paid on the stock OF
el the old company from March 10, 1915,
t. m until the time the new company
n. was organized, were 25 per cent. The
u dividends paid on the stock of the
ID new company up until this time were
ID 79 per cent This, he stated, was on
De a Capitalization Of S120.000000 in the
Delaware company, which would be
10 double the amount OF the old com
le pany. or 1853 per cent. Adding th'
Is 25 per cent. paid on stock OF the OLE
company. he testified. it made a tota
20 of 1S3 per cent. paid on the stool
l. since March Is, 1915, up until tn
present time.
y "And what was the price of Tn
l. r. C. DUPONT common stock bought b
p. S. dupont and his associates" in
u quired Mr. Glasgow.
y Two hundred dollars a share II
o. piled Mr. DUPONT
AT this point court took rece'
10 until o'clock.
e GEORGETOWN P. o. S. OF A. ELECT
Special to THE EVENING JOURNAL