Evening journal., 1916-05-18

ed that Pierre S. dupont, Edmund G.
Buckner, John J. Raswob and John p.
Laffey caused the entire $4,000 shares
OF common stock OF the International
Powder Company, owned by the du-
Pont Powder Company to be retired
and cancelled for no consideration
whatever.
The cancellation OF this entire com.
mon stock issue, II is claimed. left the
International Powder Company with
81. or .9OS with which to cancel the
remainder Of its outstanding stock
namely 1888 shares OF preferred
Thereupon in May. 1915. the indivld-
ual defendants caused he Interna-
tional Powder Company to retire these
preferred holdings at the rate OF s120
a share. the plaintiffs allege.
Although II is alleged much OF this
stock belonged to the DUPONT Powder
Company. It Is asserted that S12O "a
share was paid TO 4. G.. Buckner upon
1853 shares OF preferred stock stand
ing In his name. II Is further stated
that the complalnants ARE Informed,
believe and aver that e. G. Buckner
has not accounted 10 the said com
pany'' for the money thus paid to him
The individual defendants IN effect
ing the payment of S120 q share on
these holdings did defraud the du-
Pont Powder Company Of large sums
Of money. aggregatlng several hundred
thousand dollars. which II was entitled
to receive as a stockhOlder OF the In
ternatlonal Powder Company" allege
the complainants.
Tho DUPONT Powder Company Il
is alleged, should have received these
large sums either by payment at the
rate Of S96.50 upon It's preferred stock
I'm the International Powder Company
instead of the $50 a share Il did re-
ceive, or should have received at least
the S346.3is which should have been
available for distribution on the com
mon stock Of the International Pow
der Company
The plaintiff also allege that
/ throughout the period covered by the
! transactions complained of and since
/ then the individual defendants "own-
4 cd or controlled a large majority Of
4 the outstanding capital stock OF the
! DUPONT Powder Company and that
the board OF directors of the COM
pany were controlled by the defend
ants and co-operated with them In
the Illegal plan and actions herein
complained Of" For these reasons.
, i is asserted Il has at all times been
impossible for the minority stock
holders of the DUPONT Powder Com
pany TO seek redress within the COM
pany
The complalnants ask that each de-
fendant answer the bin Of complaint
and disclose the names Of those who
held the 1875 shares Of preferred
stock Of the International Powder
Company when these holdings were
retired at Sl2O share They also
desire that the defendants show the
+ names of the holders OF the 25,554
/ shares OF preferred stock Of the In.
/ tornational Powder Company which
we're cancelled prior to dissolution of
that corporation.
4 The defendants are also called upor
to show the number OF shares of the
preferred stock Of the Internatlona
Powder Company standing In the
name OF the DUPONT Powder Companl
April 90 1916. the number of shares
OF such stock owned by the duPon
Powder Company on that date bu
standing In the names OF other pei
sons together with the names Of sue
persons, The plaintiffs also desir
that the time and manner Of cancella
tion of the $4,000 shares Of common
stock held by the DUPONT POwde
Company be shown by the defendants
The DUPONT Powder Company. 7
Coleman dupont. E. G. Buckner AM
Piorre $. DUPONT. trustees for the In
ternational Powder Company, are re
qured 10 make complete discover.
touching and concerning all resolu
tions adopted and all actions author
lied or taken by the directors or CON
mittees of either or oOth OF said COZ
porations relating 30 the cancellation
OF the common stock of the duPOn
International Powder ComN amy tn
: cancellation of certain shares of pre-
ferred stock at less tian par and th
payment of Sl20 per share on the n
naming shares OF preferred stock q
- the said corporation Issued and on
, standing. they are also called upo
10 disclose the manner of dissOlutiO
Of the International Powder Con
p pany and to account for all money
4 received by them and disbursed /
them as trustees.
, The plaintiffs also ask in pariiculs
o that h. G.. Buckner be required 10 az
. count for the 1853 shares Of pr
. ferred stock Of the International Pow
2 der Company standing in his name
the lime of the dissolution Of the co
fporation He is asked TO show who
a this stock was acquired, the mann'
# OF acquisition and the price paid f
d them. the dates and amounts OF a
k dividends paid on this stock and q
e amount paid upon these holdings
{ the dissolution Of the Information
4 Powder Company.
n The complainants further ask tn
2. a decree be entered requiring I. Col
l. man dupont. E. G. Buckner al
= Pierre $. dupont to account 10 the d
9 Pont Powder Company for the su
S Of S346.31S illegally diverted fro
! that. company through the illegal al
fraudulent cancellation of the cor
r mon stock Of the International Po'
l. der Company for such 9th
e sums as the court shall find to ha
been Justly due and payable TO Il
{, dupont Powder Company by reas'
y Of its ownership OF common and pr
! ferred stock OF tho dupont Intern
tional Powder Company
!. 1 rODI prizes SOAR