Evening journal., 1916-07-14
CEN. I. {. DUPONT
OFFERED STOCK TO
CO TO employees
Distribution of Shares His
Object, Former President
Says on Stand
NOT allowed TO ANSWER
QUESTION AS TO INTENTION


T Coleman DUPONT, former presi-
dent of the Powder Company. the sale
of whose large block of the oompany's
stock to P. S. dupont and associates
resulted in Philip F. and Alfred l.
DUPONT and their associates bringing
the present suit, was called to the
witness stand in the United States
Court shortly before the noon recess
today.
General DUPONT had only Just got
started in his testimony when coun-
sci got into wrangle over a question
asked by Mr. Graham as TO whether
or not he would have sold his stock
to the Powder Company for other pur-
poses than distribution among en-
ployes.
After some argument the court sus-
tanned the objection and the witness
was withdrawn by Mr.. Graham
Counsel for the defendants stated
that this would probably end the testi-
monv Of General DUPONT. He Is not
subject to cross examination because
all that he was asked about is already
in the record. This sudden termination
of General duPonts testimony was
much Of a surprise. Mr.. Graham asked
that an exception be noted in the record
evidently for purpose Of appeal If nee
essary.
There was considerable speculation
among the spectators previous to the
opening of the session as TO who
would be called to the stand, now
that P S DUPONT had completed his
testimony.
Counsel and principals on both
sides we're in their customary places
early. and all looked ready for the
days battle.
r. Coleman DUPONT. wearing a thin
stripped suit and a loud light blue
| sport" shirt and stock. was early in
the room and chatted freely with
| some of his friends The number
of women IN the audience was larger
than usual and practically an tsof
| them were dressed entirely in white.
Frank L. Connable was among
those who were seated on the defend
ants side Of the room when court
opened.
P. S. dupont. John j. Raskob Irenee
dupont and Merritt Fisher. secretary
to the board of directors. were busy
going over a pile Of papers at the
defendants table.
There was little or no activity at
the complainants' table previous to
the opening Of court except for
chats" among counsel
II was 1105 o'clock when Judge
Thompson entered and about ten
minutes was occupied by Mr. Graham.
of counsel for the defendants. in
making some minor corrections in the
record
There seemed to be some disap-
pointment among the spectators when
Mr.. Graham called L. R Beardslee as
the first witness.
Mr. Beardslee testified that in
! December. 1914. and March 1915, he
was secretary of the finance commit
| tee Of the f. / DUPONT de Nemours
Powder Company and is assistant
secretary of the present corporation.
He was shown the minutes Of the
finance committee of the meeting of
! December. %. 1914 He identified the
/ minutes and also the signatures of
Alfred and p. S. DUPONT to the
minutes and also that Of Mr. Laffey
as to the legality of the meeting. This
was the meeting when the resolution
was adopted refusing $3.50 a share
for T. c. duPont's stock and fixing
SIPS as a reasonable price. II was
from this resolution that Alfred l.
dupont contended the words Eat this
time were omitted
The witness said that when he took
the minutes to Alfred I. DUPONT for
signature the latter did not approve
of the wording of them. He suggest
ed a change. which the witness, how
ever, could not remember Mr..
Beardslee, as a result of the sugges-
ton, said he took the minutes back
10 P. S. DUPONT, and a change was
agreed on between the two (P S. and
| Alfred ID, but witness could not re-
member what il was. The minutes
as shown to him by Mr.. Graham, he
said, contained the change which was
agreed to and now stands as the
signed minutes of the meeting.
Mr.. Beardslee said he was present
at the meetings of the board Of di-
rectors on March 6 and 10, 1915 He
said he took some stenographic notes
of what he considered important mat
ters that were discussed at these two
meetings. The witness explained that
il was not a complete report of the
meeting, nor had he been asked TO
take the notes by p S. DUPONT, John
, ]. Raskob OF any one else.
II was not his custom always to
take stenographic notes at the meet
ing. but occasionally he did so, he
, said
|, Mr.. Beardslee said in about july,
1915. Alfred I. dupont came TO him
, and asked il he had made any notes
of the two meetings Of the board. He
replied that he had and was then
asked by Mr.. DUPONT TO furnish him
with those notes The witness said
he had been transferred TO the mill
tary sales department under Colonel
Buckner, and that his papers had all
been disarranged. He could not find
the notes at that time, and so in
formed Alfred l. dupont
The witness explained that some
time after that and after this suit had
been filed he did find his notes among
some personal papers, and he trans
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