Evening journal., 1916-07-27
DAPONT POWDER Case
COMES TO AN END.
Continued From First Page.)

-
gov took up the many letters that
passed between P. S. DUPONT and T.
G. DUPONT. and also some letters from
Alfred l. dupont. He contended that
there was nothing in these offers to
show anything but what every offer
that T. Coleman DUPONT made to sell
stock. was made for the stock either
to 60 to the company or to the en-
ployes, and no offer to Pierre dupont
personally.
Mr.. Glasgow argued that the tes-
timony shows that Pierre dupont
started negotiations secretly, without
even the knowledge Of Coleman OF
Durham, for this stock. for himself
and his family, outside Of Raskob. He
contended that other officers had no
idea that Pierre was thinking Of buy
ing this stock and thereby betrayine
the great trust that had been placed
in him by the company.
At this point in his argument Mr.
Glasgow contended that after the
stock was bought Il was sold to the
DUPONT Securities Company, at a pro-
fit Of $1.9770O0, and that it was this
promoters water profit that was dis
tributed among the employees He
spoke Of the conference between P
S dupont and others. at the time
that the stock was purchased. and he
referred to this as a conference be-
tween Pierre, his two brothers, his
brother-in-law and that man Ras-
kob" Continuing Mr.. Glasgow said
He doubled crossed Coleman as we'll
as the company"
God Almighty, did you ever have
such a proposition as that before
you" said Mr.. Glasgow, addressing
the court.
Mr. Glasgow talked at some length
about the visit Of Mr.. Raskob. TO Nor
gan and Company, when the money
was borrowed and asked why some
one else who was more interested.
Irenee or Lammot, for instance did
not make the notable trip to Morgan
and Company.
Mr. Glasgow said he thought the
evidence showed that the credit of
the company had been used but that
Il was not absolutely necessary to
prove that, as il was only a side light,
but the real thing was the influence
secured over the directors which
made them act for the company. He
declared that these directors had
assisted in forcing dividends out OF
70 81 inc
failure to pay for the loan and that
SlSS a share was paid on the stock
in Is months and more would have
been paid had they not been stopped
by some one in New Jersey.
Mr. Glasgow dramatically declared
I'VE have the exhibit OF these men
sitting on the board in the employ
of p. s DUPONT, personally. They
held stock in their pocket Of the Sc
curities Company. given to them BY
p. S. DUPONT from the brokers' com
mission of the deal by which the
stock was turned over to the Secur-
tiles Company.
Mr. Glasgow claimed that the 1850
shares Of stock of the DUPONT Secur-
tiles Company. given to the different
pany. by Pierre S. dupont. person
ally, with the present value Of the
stock and dividends declared, amount
ed to more than $350000 each. but
he said this was not a large transac-
tion if he would save $42.00O,000 to
this Securities Company. on this
stock
In concluding his argument. Mr.. Glas-
gov contendcd that Pierre 5. dupont
turned his back on Alfred L., William
and Francis s. dupont when they oh
iectcd TO himself and associates buying
the T. @. DUPONT stock. In referring tC
the olTer that 2. s. dupont made to a
number of members Of the DUPONT fam
ily. some Of them directors of the com
pany. 10 sell them some of the dupont
Securities Company stock, Mr.. Glasgow
said;
''He took them up on 70 high noun
tain. an exceedingly high mountain o.
high finance, and he showed them the
world and the glory thereof, and n,
said to thcm 'All this will give 70,
if YOU fall down and worship me, an,
nine of them said: Tt is written, tho,
shalt worship the Lord thy God and Hin
only shalt thou serve. and this Is wrong
and VIC viii not do it,
Mr. Glasgow's closing remarks fol
low;
81 ask Your Honor in administerin,
equity and Justice to make these mel
who have been paid within sixteen dol
lars share and are ready 20 get m
balance out Of the treasury Of the com
pany, to turn this stock in so that every
stockholdcr may have an equal odvan
taee in the prospects Of this compan,
and In ifs nrnffs alreadr nalnnd y