Evening journal., 1916-07-11

all the details arranged. I suggest that
the transaction be kept confidential.
| VIII let you know as soon as It IL
announced. which Of course must be
fairly soon. have arranged for the
loan In New York, but some details
VIII have to be finished on TUESDAY.
February twenty-thlrd (Mondav being
bank holiday I viii arrange i'm
mediately with Lou Durham for the
transfers.
Your affectionate cousin
Pierre s. dupont.
Letter 10 J. P. Morgan & Co.
The following letter next was nut
on record:
February "a. 1915.
J. p. Morgan & Company,
New York City.
Gentlemen:
Attention OF Mr.. Porter.
wish TO confirm my understand
ing OF our conversation OF Yesterday
We are Incorporating the dupont Sc
curities Company under the laws OF
the State OF Delaware with a capitai-
ization OF $500. 900, which company
win purchase 1889 shares Of the
preferred and 81 4O1 shares OF the
common stocks OF r. I. dupont de Ne
mours Powder Company The COM
pany will issue a seven year note OF
! Sb,903,7i5 10 T. c. dupont. CARRYING
$4,000 shares OF the common stock
OF Il. I. DUPONT de Nemours Powder
Company as collateral. They will
also issue note for ss.500,0O pay
able eighteen months after date, with
Interest at the rate OF six per cent.
per annum, to be sold by you at par.
The collateral on this note will be
1889 shares OF preferred and 54.5e1
shares OF the common stocks OF u.
/. DUPONT de Nemours Powder Com
pany, coupled with underwriting or
guaranty agreement. The company is
to have the right TO renew this note
for further period Of eighteen
months at the same rate OF Interest
commission OF 1 IL per cent. "a
to be paid on such part as may be
/ renewed.
Papers Of incorporation are being
prepared today by our counsel Mr.
william s Hilles. who, with Mr.. Ras-
kob, will meet Mr.. Prosser and coun-
sci OF the Bankers Trust Company in
New York tomorrow with view to
agreeing on all the forms Of neces-
sary resolutions. forms OF notes
guaranty agreement. etc: the lnten-
b tion being to file the certificate OF
incorporation on next Monday at
Dover, Delaware, and complete the
transaction In New York on Tuesday
at which time the sS,5O0,OO cash win
! be available
The commission for your services
! In connection with this transaction
will be S17O,000. being per cent. on
D the amount Of the loan.
Very truly yours.
Pierre S. dupont
The Bankers Trust Company note
n was put In evidence as follows:
New York. March 2, 1915.
y Eighteen CS) months after date fol
value received the undersigned prom
" ise to pay to the Bankers Trus
~ Company, or order. at it's office il
~ the city OF New York. in funds cur
30 rent az the New York Clearing HOUSE
- with interest from the date hereof. a
80 the rate OF six per cent. per annun
n payable on the first days OF Januar
"' April, July and October. eight millic
Ave hundred thousand and ,00-i
($S.500, oO0) dollars. ana the followif
Ie is hereby deposited with said Tru
re Company. as collateral security. r,
a ln the payment Of this and any oths
~ liability or liabilities Of the under
signed, or which may hereafter b
o. contracted or existing, due or to be
come due to. or held. or to be held by
said Trust Company viz; 54.59
shares OF common. and 1889 share
: OF preferred. capital stock OF r. ]
DUPONT de Nemours Powder Company
This note may be extended at tn
= option Of the undersigned for a fur
!, ther period Of eighteen Gs) month
upon the payment Of a sum equal Z
. one and one-haif per cent (h 9o) o
:. the principal amount hereof. So lon
=, as this note is unpaid. all dividend
payable on the stock pledged here
~ under shell be paid directly to, and ar
a piled by. said Trust Company o
:. account Of interest then due. or I
- fall due. from time TO time. Any bal
=, ance or any accumulations therec
not so applied to be held to be apple
at the maturity hereof upon the prin
iv cipal.
The separate agreement OF guar
antee also was spread on the record
II follows:
In consideration Of the making b
er Bankers Trust Company. az the re
nix quest Of the undersigned OF the loai
six Of $500, 900 TO the DUPONT Securi
d. ties Company. evidenced by the not
nd OF such company. dated March 2
n 1915. upon the terms thereof On
DIS form hereto attached), and of tn
on sum OF one dollar. the undersigned
hereby guarante severally. but no
Jointly Bankers Trust Company, IL
ad successors, endorses or assigns, il
NJ and TO the amounts set opposite thei
a. respective signatures, prompt pay
e. ment OF the principal and interest o
the said note according TO the term
,s. thereof, either at the original matur
< ity date thereof or at the date I
which the same may be extended, a
provided therein, and do hereby con
~ sent that the time OF the paymer
ad of said note may be extended a
- therein provided. without notice TO {
- further assent from the undersigne
ed guarantors, and that the undersigne
"A guarantors will remain bound upC
ar their several guarantees notwithstanl
IN guarantors waive demand of payne
from DUPONT Securities Company, 4
maker of said note, and also wal
~, notice Of non-payment of said 10
"A or note, and also waive notice of a
sale OF the collateral securities hs
for said note. 1t is understood II
when and as any one guarantor sh
make a payment under such guaran
such guarantor shall receive fro
.