Evening journal., 1916-06-28
SUIT OVER sale
Of GEN.DUPONT' s
STOCK UNDER WAY
Alfred |. dupont TeStifieS
About Company's Negoti-
ationS for Powder Shares
MIXUP over letters IS
BROUGHT OUT IN court


With but few preliminaries, the suit
of Philip +. dupont and others against
the DUPONT Powder Company, Pierre ).
dupont and his associates, comprising
the dupont Securities Company, was
started promptly at ~ o'clock before
Judge j. Whitaker Thompson, Of
Philadelphia, in the United states Dis
trict Court today
In many respects this is the most
noted case over heard in the local Fed
eral Court This is especially true as
10 the amount of money involved IN
the suit and the brilliant array OF legal
talent ON each side, which includes some
Of the most noted corporation attorneys
in the country.
The suit grows out Of the sale of the
stock of General r. Coleman DUPONT TO
Pierre $. DUPONT and his associates. The
complainants seek 10 have the sale set
aside and the stock turned over TO the
powder company. on the ground that II
should have been purchased by the di-
rectors for the company instead of for
individuals. General DUPONT received
about sl6.OO0O00 for his stock. The
present market value of that stock IS
about S60OOO000.
II is thought that this is the largest
sum ever involved in any suit in the
local Federal Court. The prospects are
that the case will last several weeks.
Tor some time experts have been going
over the books of the concern to secure
data for the complainants. which will
expedite the suit. Experts Of the COM
plainants have spent a week going over
This data already compiled by the com
panv. to see that it is what the com
panv has been asked to produce in this
suit.
In no previous case has there ever
been such an array Of noted lawyers
in one case in this State. John G..
johnson. OF Philadelphia. rated as the
foremost corporation lawyer in the
country. Is chief counsel for the COM
plainants. other counsel for the COM
plainants are William A. Glasgow, IT.,
OF Philadelphia, spoken of 70 sue
ceed Charles z. Hughes on the Su-
preme bench: Henry p Brown, Of
Philadelphia. and Robert Pennington,
of this city. Counsel for the defend
ants include William II. Button, OF
New York; Congressman George s.
Graham. of Philadelphia; Judge John
p. Laffey and William s. Hilles. Of
this city.
Among those present in the room
when the case started we're p. $. du-
Pont, president Of the r. 7. DUPONT de
Nemours and Company; Irenee du-
Pont, vice-president; John j. Raskob,
treasurer; Alexis DUPONT, secretary;
A. Felix DUPONT. a director; Lammoi
DUPONT. a director, and several other
OF the defendants 10 the suit.
Among the complainants present
were Alfred l. dupont. Philip f. du-
Pont. who brought the original suit
and Francis l. DUPONT. T. Coleman
DUPONT whose stock was sold, was a
spectator with many other prominent
business and professional men of the
city. General DUPONT will be a wit
ness.
The case was opened when Mr.
Glasgow. for the complainants. offer
ed the answers of the various defend
ants, but he later withdrew this of.
fer and will make it again later.
The charters OF the various defend
ant companies were offered in evi-
dence by Mr.. Glasgow. Congressman
Graham. for the defendants. objected
10 the charter of the new company
going in. on the ground that it was
organized after the events complained
of by the complainants Judge Thomp-
son. very business-like. over-ruleC
the objection and counsel for the de
PENDANTS had one exception noted. Al
the charters we're admitted in evil
dence.
Counsel for the defendants also OBJ
5ected to the certificates offered II
evidence giving the company the righ
TO do business in this State. The OBJ
iections were over-ruled and an eX
ception was noted. Mr.. Glasgow saiC
he offered these to show "the historl
OF the transaction
Control OF the DUPONT Company Il
not involved in the present suit II wa
said today, prior TO the trial, II heinz
pointed out that at the annual meet
ing in March the present administra
ton of the company controlled thu
election without voting the stool
bought from General 7. c. DUPONT.
Alfred |. DUPONT First Witness.
Alfred /. DUPONT. one OF the com
plainants in the suit, and formerly
vice-president and a director Of the
J.. I. DUPONT de Nemours and Com
pany. was the first witness called L
the stand.
William A. Glasgow. OF Philadel
phia. conducted the examination o
Mr. DUPONT. who testified he had beer
connected with the powder business
since 1884. and was vice-president o
the r. l. DUPONT de Nemours Powde
Company. organized in 1908. Mr.
Glasgow questioned the witness as L
the properties that we're purchased il
1908. following the death OF Eugene
DUPONT. who had been at the head o
The DUPONT powder business. Mr.. Glas
CONTINUED on Page Two.)