Evening journal., 1916-07-01
CROSS-EXANINATION
OF A. |. DUPONT BEGINS
CONTINUED from Page u.

vi Tie It DUl UNI DlUIlIU
CONTINUED from Page II.
saying "it looks like IT," or some sim
liar answer. He was cross-examined
closely as TO his objection TO the re-
organization of the company, after he
had approved of il at a meeting Of
the finance committee, and also gave
his approval as a stockholder after
holders Of two-thirds Of the stock had
approved OF il.
The prospects are that the cross
examination will last for several more
hours. Mr.. Graham had practically
only just started his cross-examina-
ton when a recess was taken until
Monday.
The Tits between counsel were not
so frequent yesterday afternoon, al
though Messrs. Glasgow and Graham
indulged in an exchange several
times. The former made objection on
one occasion when Mr. Graham re-
ferred to the witness (Alfred /.
Dupont as the principal complain
ant
Il was expected that an adjourn
ment Of the case would be taken un-
til next Wednesday on account of
Tuesday being a holiday. SOME OF
the counsel were suggesting such an
adjournment when John G. Johnson
of counsel for the complainants, OBJ
iected. and asked that a session be
held on Monday This was the first
active part that Mr.. Johnson, who Is
looked as one Of the foremost cor
poration lawyers in the United States
had taken in. the case. The court
agreed that there should be a session
on Mondey and the adjournment was
taken until II o'clock that day.
/ Records In Evidence.
/ At the opening of the afternoon ses-
! sion. Mr. Glasgow. Of counsel for the
( complainants. stated that he desired
! to offer in evidence the minute book
/ Of the finance committee. covering
I the period from January I. 1914, to
March 81. 1915. for the purpose OF
showing that the finance committee
{ did not determine when the bank
( balances should be maintained.
Without any action being taken on
! the admission of all the minutes. Mr.
Glasgow took them up, one by one
stating in each instance that he offer
: ed in the minute of such a meeting
in evidence and in most instances II
went I'm without objections.
The first minute that Mr. Glasgow
read from was one of a meeting oi
! the finance committee on August 20
! 1914. under the head Of bank deposits
in which the president was author
lied to take up with the treasurer
"As to how our bank balances should
be distributed in case we should de-
sire to make loans at any time AL
fred DUPONT was authorized TO take
up the same subject with the Pennsyl
vania Company.
A minute from a meeting OF the com
mittee held November II, 1914, sug
gested an account with j. P. Morgan
and Company. but there was also ;
paragraph whereby the committee ad
vised against any change in "oul
present method Of handling bank &C
counts"
AT a meeting Of the committee hel'
on December .. 1914. a resolution wa
adopted authorizing the treasurer Y
open an account with the ). +. MOI
gan Co. firm. but provided that NJ
checks be honored unless signed b.
at least two of the following men
lT. c. dupont. Alexis /. dupont
Charles Copeland. r. n. Weed, JOIN
]. Raskob. Lammot dupont and
4 William T. Saltmarch.
A minute OF the meeting OF Feb
ruary IS, 1915. showed that the treas
urer suggested by letter that the com
pany maintain a balance OF from
$500 900 to 81 100000, with the Nor
gan Company.
The committee, at meeting OF
March 10. 1915. authorized the treas
lurer to maintain a balance of from
$500 600 TO 100000, with j. P. Nor
gan and Company.
These minutes were all admitted
into evidence.
At this point, Mr. Glasgow asked
the defense to produce the letter from
the treasurer, John j. Raskob, to the