Evening journal., 1916-07-11

as | am not supposed TO but got one |
letter passed by Board OF censorship. !
Glad TO know $4,000, 900 is safe this
is 100000 increase since left and
think If we get started we will be
able TO ship more or faster than was
figured out at first it's pity we can't
make the McCarty powder that drys
in "a hours for the IS inch guns and
this is when / felt McCarty greatest
value would be.
Dictate a letter or two to me ad-
vising how things are going. Love
to family.
Your affec Cousin.
(S) Coleman.
HerTe's Letter TO Coleman.
Pierre duPont's reply under date Of
January 2 was next offered and read:
Coleman DUPONT, President,
Rochester, Minnesota.
My dear Coleman: I was very
happy to receive your letter OF jan
uary the 6th. particularly as II was
in your own handwriting. indicating
that you are feeling much better. I
could hardly believe that you would
be about so quickly after all that you
have gone through in the past few
weeks. II all indicates to me that
the fifteen pounds you have lost was
mostly in useless parts that have
given you lot OF trouble but are
now in position where they cannot
90 so.
1 feel you must be much disap-
pointed in the question of the stock
subscription. I used my best judg-
ment in not trying to force the situa-
ton. Possibly 1 could have put it
through by insisting. but at great
risk of having the other side pitted
against me; that might have compli-
Gated the whole plan for good and all
AS II remains now. feel that the
| proposition is open for reconsidera-
tion at your option, of course
Willie civilian duPon) is away at
present. but will be back in a couple
OF weeks, at which time l will take
u the work again. unless 1 have
word from you to the contrary. Ny
] judgment is that the deal will go
through this time.
The march of the smokeless pow
der business Is going on uninterrupt-
ed. In order to take care Of deliv-
cries for the latter part Of this yea-
we have now increased our manu-
featuring capacity TO 5000. 900 pounds
gun cotton per month. The powder
manufacturing capacity is not quite
equal to this. but a new negotiation
VIII probably make it necessary 10
round out the 100000 gun cotton
capacity per annum to a similar ac-
count Of powder. The actual sales OF
the latter now amount TO 5000 900
pounds, OF which 100000 are for
the British Government, and, though
not signed up. everything is in readi-
ness for final action: also the Rus
sian order for 5000, 900 pounds is stu
unsigned, but everything is arranged
and there is no doubt that the first
payment will be made within the
next week. This may seem like ar
old story. but each day we get closer
to the goal. In addition to the above
order we have sold 10000 pounds
OF gun cotton and 5.6s4.375 pounds
of trinitrotoluol. In all these con
tracts the prices have been main
tanned. We are now negotiating
second order OF $4,000 pound
with Nobels and 100000 pouud
with Bethlehem steel.
Day before yesterday in New
/ York, Colonel Buckner and I me
the financial representative OF th'
Russian Empire, whose mission Fl
the States is to place Russian securi
ties in New York. He spoke quite
frankly about their endeavors TO es
tablish credit and of the advantag,
: to his country II a large block Of
/ per cert bCLds could be placed will
, us. The discussion led to a PROPOSE
/ ton bv us to furnish 10000. OOi
Lounds of powder over 1915, payaoi
one-half bonds at market pricl
4 $50 to $50 and one-half cash; S1.0
1 per pound. subject TO discount o
:, 2 1-2 per cent. at time of final pay
o nent. We also made an alternqt,v
proposition for 8O.00O,000 poun
% under similar conditions Of payment
e but delivery extending three month
|. into 1917, with the additional provi
sion that our company was TO pur
chase at the signing of the cont.ac
$1,000, 900 in the Russian per cen
bonds.
This feature was added on accour
is of the recommendation OF the kus
" sian representative that a subscriptio
TO the bonds at this time would hav
a very good effect on the Russia
|
g. final result will be equivalent TO az
It cepting 40 per cent. in cash and s
n per cent. in bonds. As the cash pay
ment will let us out with some prof
N it seems unlikely that the net resu
1t will be anything but very satisfa'
10 tory. Russian 4 per cent bonds. bs
II fore the war, sold in the 90's; toda
n they are about 80. The total bon
J. Indebtedness Of the Russian Empii
amounts TO $4,000, 600, 900; populatio
,e 1912, 170,0O0,000 This compar'
OF with the Indebtedness Of others
ID this way:
a France ............. $500, 600. .OC
ut German States and
et Empire ........... 4,9OO,OOO,O O'
Or United Kingdom and
II colonies ........... 3,7OO, ,0OO,O OF
w United States ........ 1000, ,0OO,O1
in Considering the vast and enormol
ne resources of the Russian Empire.
y, would seem their bonds are the safe
ys of all the warning nations. The Ru
sian representative, Gregory Wilel
to kin, received our proposition
or though he thought something mig
i'll come of this and purposed cablir
y Petrograd Immediately. AS we ga
him ten days for reply, we will pro
i'll ably know shortly how far our prop
p sition interests them. I am prepare
II TO have a reply suggesting full pa
eti ment in bonds. If such an off
at should come TO us / would incline
n its acceptance.
i'll We have given a great deal OF CO
ait sideration TO the proposed law pr