Evening journal., 1916-07-12

that on the 23d day Of February the
deposit with the National City Bank
was FIVE hundred and twenty-five
thousand dollars and on the gath of
February it ran up to nine hundred
and hfty-eight thousand dollars? A.
No, was not aware Of it.
@. Were you aware Of the fact
that on the 2Sd of February the de-
posit in the Chase National Bank was
one hundred and ninety-three thou
sand dollars and that on the oath it
r~n up TO five hundred and ninety
three thousand dollars? A. am
not surprised, no.
@. Were you aware Of the fact
that on the 23d of February your de-
post In the Hanover Bank was one
hundred and five thousand dollars IL
had been the day before-no. one
hundred and ninety-nine thousand
dollars ii had been on the 23d the
day before, and that on the oath Of
February IL ran up to FIVE hundred
and ninety-three thousand dollars?
A. I do not know that I was aware
of the fact. 1 do not remember hav-
ing IL called to my attention.
Q. Were you aware Of the fact
that the deposit in the Hanover Bank
was one hundred and ninety-three
thousand dollars on the 23d of Feb
ruary, and on the gath was five hun
dred and ninety-fve thousand dol
lars. A. I do not think 1 was, no
other banks whose balances simi-
larly increased at that time we're
enumerated and then Mr Johnson
asked the witness:
Q. Would you have been surprised
to have found that the balance I'm the
Philadelphia National Bank on the
23rd was one million two hundred and
ninety-five thousand dollars, and that
Il fell on the oath TO about eight hum
dred and Ave thousand dollars? A
Not az all surprised.
Q. Were YOU a director Of the
Philadelphia National Bank? A. I
am, yes.
@. How was IL possible. after lodg-
ment in those banks Of these deposits
10 have the amounts withdrawn un-
less Raskob and YOU or Irnee DUPONT
agreed that it should be done? A
The responsibility was with the finance
committee. II the balances were not
according 10 their liking. It was their
duty to-
Q. How was It possible for Alfred
l. DUPONT for instance, when Irenee
DUPONT you and Raskob were on the
finance committee-which took place
when?
Mr. Graham: Raskob was not on
the finance committee.
Mr. Glasgow; ?. s. DUPONT. Irenee
DUPONT. William DUPONT and Alfred
I. DUPONT.
BY Mr. Johnson; @ with VIII
liam and Alfred I on the finance com
mittee, with Irenee DUPONT and you
on the finance committee. how was II
possible 20 withdraw those balances
under any action Of Alfred and VIII
liam dupont? A. II was the duty OF
William DUPONT and Alfred DUPONT as
we'll as the other members Of tn,
1 finance commmittee to see that tn,
balances we're properly kept The
company did that for them. and ALFRED
and wilram-it was their sole dut,
to attend 10 the finance committee az
fairs n thoy objected 10 any balance
II should have been brought up in tn,
finance committee meeting n the
finance committee refused 70 do what
they required. It should have beer
taken 10 the board
O. I am talking now about the
Finance Committee so far as William
and Alfred DUPONT were concerned
could they have compelled you and
Irenee DUPONT 10 bring about a with
drawal of these bank deposits? A.
have explained how that might be
done. by bringing the matter up be
fore the Finance Committee, and If
that committee did not act favorably
in the way that they suggested. tC
bring the entire transaction to the
Board and the Board would settle
that question, and they we're the only
people employed to do so.
Q. on the 4th OF March you tol'
Alfred dupont that you were goinl
to hold on to these shares of stock
did you not? A. I did.
@. And would not give them t.
the company? A. No, I would no
sell them TO the company.
Q. What brought about you
change OF heart which LED to you
letter Of the 5th of March? A.
decided after that meeting. that Il
order to be perfectly fair with every
body, II was right TO consider an of
fer from the Board of Directors, {
have their opinion.
O. And if the Board Of Director
voted in favor of the taking of thes
shares. do you mean TO say that yo
would then have turned them owe
on the terms suggested in your lei
ter TO the company? A. I did nc
say that.
Q. What do you say? A. I d
say that II the Board OF Director
had presented arguments in favor {
buying that stock on the part Of III
/