Evening journal., 1916-07-11

letter the witness said that he had
not the opportunity again to talk to
J. willie" who was away, but both he
and Alfred had opposed the offer at
the financial committee meeting. he
u considered he had his opinion OF il.
p. p. S. DUPONT. in this letter also said;
II believe a number Of the execu-
tive committee were anxious to take
the stock. I will do nothing until /
hear from you"
A Letter from 7. c. to p. S. du-
Pont, dated January Is. 1915, confirm
ed his telegram withdrawing the off
er He said in this letter, as Christ
mas and New Years had passed with
out the offer being accepted, another
two or three months would make no
difference. although he had been
anxious that il be accepted for the
good of the company, and for the ben
eft Of the employees. He said that
when he returned it was possible that
he and the witness would be able TO
work out some ether plan. The writer
also stated in this letter that he un-
derstood Alfred l. DUPONT considered
the common stock worth $780,
In a letter dated January 20 1915.
from T. c. to p S. dupont stated that
he had received the letter Of the wit
ness dated January IS. and that he
was sure they could work out some
plan on his return that would be ben
efcial.
Another letter dated January 25.
1915. from P. S. 70 T. c. DUPONT, was
read The witness said at the time
he wrote this letter, the negotiations
for T. c. duPont's stock we're all off,
as the latter had withdrawn his offer
In this letter the witness stated that
Alfred S. DUPONT had approached him
with a suggestion that treasury stock
he sold to the more important en-
Iployes He said he did not know
what Alfred L DUPONT had in mind.
but that he thought both his. T. G.
duPont's and Alfred ]. duPont's prop
ositions would be considered The
witness in this letter told of the clos
ing of a contract with the Noble Com
pany. representing the British Gov
ernment, for 6,5OO,OOO pounds of ex-
plosives He also said that Mr. Buck
ner had taken up with Morgan and
Company, the matter of deliveries for
the bTlLlSn government.
In this same letter the witness told
of himself. Irenee dupont and Colonel
E. G. Buckner, going to New York to
meet Mr. Kraftmeyer relative to
British contracts. He said Mr.. Kraft
meyer told him that he had heard
that he, a pro-German firm, in New
York, had gotten control of the pow
der company, because Of the embar-
rassment of one Of the largest stock
holders. He said he assured Mr..
Kraftmeyer that there was no truth
in such a report, and that the latter
seemed pleased to learn that fact
In this same letter the witness IT
s. duPont) told T. c. dupont, that
the contracts at that time amounted
to 1915 900 pounds and that there
were offers for additional contracts
o OF 100000 pounds.
j. Feared German Control.
e The witness testified that previous
: TO the meeting OF the finance commit
It tee Of January q, he told Alfred 7
n dupont what had been said by Mr.
Kraftmeyer and II was following thiI
Z. that he (the witness) made the sug
r. gestion that the four largest individ
= ual stockholders pool their interests
o to assure customers that there was nc
I chance OF outside interests getting
control Of the company.
William DUPONT. in his testimony
had testified that he was out of the
. city the latter part Of January, 1918
The witness said he was sure that
, William DUPONT was present at the
b. finance committee meeting Of Jan
uary 27. and the minutes that were
b. produced also showed that he was
b present at that meeting.
A letter from the treasurer. dated
January 90 1915, to the board Of di-
I rectors, in which he told OF buyins
S stock 10 meet the bonus allotment
for employees, was pleaced in evi'
: dence.
Mr.. DUPONT also testified that the
stock bought by the company and re
! ferred to at the morning session, was
. to be distributed among employees un
der the bonus plan.
"Mr DUPONT, afterwards you anC
: your associates bought the entire
: holdings Of T. c. DUPONT, did you not
= asked Mr. Graham
4 "We did replied the witness.
\ He was then asked TO explain the
: transactions leading up to the pur
chase OF the stock
Mr.. DUPONT said on February II, h'
I talked with l.. L Dunham, T. c. du
|. Points representative. who told hin
= II. c. dupont wanted TO sell 10000
shares Of his stock at 5000. The wit
iness said he asked Mr. Dunham il Mr.
= DUPONT would pool his remaining
n holdings with those buying the 10000
5 shares
n The witness said Mr. Dunham com
, municated with T. C. DUPONT. and la
r ter told him that T c. dupont saiC
s, he would sell all his holdings. but
would not pool any part unless h
,r knew conditions Of the pooling.
J. Following receipt Of this informa
p ton. the witness said he conferre'
with lrenee DUPONT, John ]. Raskoh
- r. r. NJ. Carpenter and Lammot du
Is Pont, and they agreed 70 attempt Z
l. purchase the stock.
;. Afterwards he said Mr.. Raskob wa
p sent 10 New York TO see what loan
70 could be placed for the common stock
,s He said on his return Mr. Rasko
\ told him that he had seen MIR. Porter
70 of Morgan and Company and tha
/, the latter had taken an interest 4
= the matter. and thought the loan
could be secured Mr. Raskob tol
: him that Mr. Porter went out to con
suit others, and on his return tol
L. -r