Evening journal., 1916-07-25


special faYOrs or immunities of any
description whatsoever, and that all
that they ask is fair play and Just
ltseatment."
Mr.. Scott Enlightens.
Senator DUPONT next introduced
Mr. Scott as chairman Of the stock
holders committee appointed at a
public meeting in Wilmington. Mr..
Scott had prepared no set speech, but
he talked in business way to SEN
ators Thomas and Stone. He pointed
out that the revenue bill singles out
Delaware in its discrimination. and
will work great financial injury TO
thousands Of Delawareans. not only
stockholders but workmen depend
ent upon the powder industry. II the
bill is passed as framed.
AS an evidence. Of It's sweeping ma
ture he pointed out that 1900 holders
Of DUPONT common stock own 100
shares or less. and they would be the
most seriously affected by having the
stock value impaired and pared down
by the revenue tax as II is proposed
to do.
Mr. Scott stated that with this tax
stockholders would be paying three
taxes-the general corporation tax.
the income tax and now the war mu-
nitions tax, "As for the latter,
know Of no human reason for such
tax" he added
It was pointed out that with the
levying of the revenue tax it would
mean an additional expense Of S31
placed on each share Of DUPONT stock,
and with the dupont Company en-
/ ploying so 600 workers in Delaware
New Jersey and Virginia, and few
other States. the company might be
compelled to discontinue taking or
ders for war contracts.
The government Mr.. Scott said. has
/ been receiving powder from the du-
/ Pont Company at the old rate of So
cents a pound, and while 1t is said by
| the company that it could not sell
| powder at this price TO the govern
ment with the new tax effective, there
is a clause setting forth that the gov
eminent shall not pay more than
/ that amount for its powder.
The income Of the proposed tax,
Mr.. Scott said, would amount TO about
S7O,0O0,0O0 and Delaware. with its
headquarters for two-thirds OF NUM-
tions plants and a population OF one
five-hundredth Of the country was TO
be taxed 100 times more than its pro-
portionate share Of the tax. The total
amount TO be raised here, Mr.. Scott
said would be about S21 100000 Sc
cured from Delaware industries.
He cited numerous products, such
as gasoline, automobiles, and a long
list of materials on which great prof
its have been made because OF the
war that are not even included in the
schedules of taxation of the war reve-
nue. bill, and contended that this was
a most unjust discrimination.
The committee was greatly inter.
ested in Mr.. Scott's business-lik,
presentation of the case, and behint
closed doors asked him many slgnif
cant questions. Mr., Scott had studied
the subject thoroughly, and gave tn
, committee much enlightening infor
nation.
Following the conference OF Senate
DUPONT and Mr.. Scott with the com
mittee, they retired. and then Senator
Salisbury led in the large delegation
from his Office. He introduced eaci
person 10 Senators Stone and Thomas
and soon the hearing, somewhat be.
lated, was under way.
"Is all of Delaware hereg" asked Sen
ator Stone iocularly.
eve only brought those who are il
good humor; we're afraid the other
might assassinate you" laughingly re
piled Senator Salisbury.
Senator saulsburyss Words.
Il hope that you will appreciate,
said Senator Salisbury" that this IL
a community coming before this sub
committee TO represent the creates
industry, located in that State, tha
is TO be found along the Atlantic sea
board"
Are they interested in prepared
ness" interrupted Senator Stone. II
comes high. you know. They're we'll
groomed, anyway"
Eyes, they come well-groomed an,
prepared 10 pay their fair share o
tax, but they don't want to pay some
ones else share" replied Senate
Salisbury. The pending bill. il en-
, acted, would mean in tax S35 a shar
on every share of common stock o
the DUPONT Powder Company"
What is the market value Of III
stock inquired Senator Stone.
1925 to S2s5 a share" replie
I Senator Salisbury.
What dividends have been paid o
l it" asked Senator Thomas.
e 81 read testimony given in the SUI
- in a Wilmington court that dividend
: equal to S1S3 a share have been paid
D explains Senator Salisbury. That
!, in eighteen months. l want TO say ths
2 rye never heard of such a tax as
{ proposed in this bill on the gros
I receipts I've never heard Of such
B tax in the history of the world.
This company and these stockholC
ers are willing 10 pay their share {
taxes IL they are taxed as other con
. panies or men are who have mad
money in the past two years"
Senator Stone said he had rea
I newspaper reports that a tax {
, seventy-seven per cent. had bee
levied by England on munitions con
! panies. and be remarked that th
facts easily could be ascertained b
/ cable from the American ambassadc
in London. Senator Stone said
, quoted that tax 10 meet the statemer
! of Senator Salisbury that he ha
, never heard Of such A tax as tn;
7 proposed in the revenue bill on e,
. plosives.
Il say that I can prove that n
such tax has even been levied in III