Evening journal., 1916-07-15
Deposits DIDN'T
Influence loan
SAYS MR.. RASKOB
Continued from First Page.


journment should be until Monday or
Mr.. Graham held out for
as a convenience to himself.
and Mr. Johnson and Mr.. Glasgw op-
posed the suggestion. The court ad-
journed until Monday. MIR. Graham
noticeably was provoked over court
not adjourning until Tuesday he
claiming that he had arranged to at
tend to some personal business on
Monday.
General dupont Called
When court reconvened yesterday
afternoon General r. c dupont who
had left the stand in dramatic man
ner at the morning session. was re-
called. Mr.. Graham, Of counsel for
the defendants. then made 10 the
court separately the three offers that
he had made at one time at the morn
ing session. as to what he desired TO
prove by the witness Mr. Glasgow
objected TO each offer, and was sus-
tanned in each instance.
In addition 10 this. Mr. Graham
said he desired to make this
prove by the witness: There
never was made TO or received from
r. c. DUPONT. any offer TO sell or buy
63,314 shares Of his common stock or
14.59s shares OF his preferred stock
. for the company and there never was
, such an offer which the company
could avail itself Of"
Mr. Glasgow said he would object
TO the offer as a whole but did not OBJ
iect TO the latter part Of the offer
Mr. Graham then said he would
make the offer as a whole Mr. Glas-
gov objected. and was sustained by
the court
Mr. Graham, at this point, said he
was through with the witness. As
General DUPONT left the stand, he re-
marked, Are you done with me?'
Unless Mr. Glasgow wants to cross
question you" laughingly remarked
Mr. Graham.
Mr. Glasgow remarked "Mr. Gra-
ham can't entice me today.
General dupont then took a seat
among the spectators.
John j. Raskob was called to
the stand
MT RaslSOb Testifles.
MI Raskob said his position in the
company during 1914 and 1915. was
treasurer. and in 1915 he was also a
director Of the powder company.
The witness was asked by Mr.. Gra-
ham what was the first he heard
about the purchasing Of the holdings
of T. c. DUPONT, in the company
The witness replied that on Fehru-
airy II, 1915, p S. DUPONT showed 10
him letter from T. c. DUPONT, rela-
tive 70 him selling some Of his stock
He said Mr. DUPONT asked him to read
the letter over and talk to him about
- later which he did He said con-
ference was arranged between Irenee
! Dammot Pierre S dupont. r. r. NJ
| Carpenter and himself Felix DUPONT
was not present at the first confer
enco but was present at the other
conference
The witness said as a result OF that
conference the six Of them decided to
try and purchase tho holdings OF T. c.
DUPONT
The witness was asked to continue
his account OF matters leading up to
the purchase Of the stock and when
he started 10 tell Of what was contain
ed in kilograms and letters already
put in evidence. Mr.. Glasgow objected
10 the witness giving his version OF
these communications. claiming that
they should speak for themselves. and
was sustained by the court Under
this procedure when the witness
realized a point in his relation that
dealt with a telegram or letter, he
was simply asked to identify that
particular paper
Mr. Raskob said after the confer
ence with the men mentioned. and the
decision TO buy T. c duPont's stock
he went to New York on February IS
1915. TO Mr.. Porter. Of Morgan and
Company. He told Mr. Porter that
they (the syndicate mentioned) had an
opportunity to buy r. c. duPonts
stock. Witness said he told Mr.. Por-
ter that the transaction would proba.
bly, involve thirteen or fourteen mil
lion dollars. and that they hoped t,
get Mr. dupont 70 accept a note run
ming for a terms of years. and to Dor
row the remainder to pay in cash.
Talks With Mr. Porter.
The witness was taken over thi
ground as TO what he said 10 Mr.
! Porter as to the proposed loan HI
SAID he told Mr. Porter that the.
would form a corporation 10 finance
the T. c. dupont holdings and that ad.
ditional holdings would be put into that
company which would give a note &c
T. c. DUPONT for a part of the amour
and a note 10 the Morgan Compan.
for the remainder that would be re
quired. He said there was a differ
ence Of opinion at first between him
self and Mr.. Porter, relative 10 th'
note of interest, but that six per cent
was eventually agreed on.
One point in the agreement witt
Mr.. Porter, the witness said, was tina
all dividends that might be declared
on the stock should go TO the bank
ers taking the loan first TO pay th'
interest. and then the principal ThI
witness saw P. S. dupont, in New
York. that night. and told him the
result Of his interview with Mr.
Porter and later he reported to the
others interested.
Mr. Raskob said on February q
Mr. Porter told him over the tele.
phone that the arrangements for the
/, loan were satisfactory Mr.. Raskot
, stated that he and P. S. dupont went
10 New York on February %. wher
al the final agreements and detail,