Evening journal., 1916-07-26

/
action; the enemy of Coleman DUPONT,
fighting him at every turn, the man
who said" l will not give one hundred
and twenty-five dollars a share for
this stock" the man who sat in the
committee room and bought the stock
for corporate purposes at as high as
one hundred and eighty-six dollars !,
a share during that interval. What !
was the purpose7 Waiting for some (
thing to drop. He thought that T. /
Coleman DUPONT was environed and in .
trouble and he was waiting to get his /
grip on that which would put him in /
control Of this company and enable I
him to direct its affairs.
Oh, yes. tell me that there is mean /
ness in acquiring this stock and dis /
tributing forty thousand shares
among the men who sweat blood in
bringing about this stupendous sue
cess. tell you there is a picture OF
meanness and infinitely worse. II is
the picture of man who siSs down
from March until December, and then
when everything is clear and the pro-
fits are made to a large degree and
certainty has taken the place Of un-
certainty, he files his Bill in Equity
for the purpose Of putting his hand in
the pockets Of these men and taking
out Of their pockets what they risked
to win. and putting it into the pockets
Of the treasury of this corporation,
and most largely to himself for he
has seventy-five thousand shares Of
this stock We're IL not for the fact
of the supreme genius of this man
and his associates who we're welded
to him, like a band OF brothers, this
stupendous success, pouring money
into the Golfers of this company could
not have been brought about And
now does he come forward and say,
at is true, you have taken the place
Of danger: you have put your per
sonal fortune at risk in buying this
stock? Yes. you did. but what do /
care for that? You have made tre-
mendous lot Of money from this, and
I must take II away. Therefore 1t is
that / remember that in that resolu-
ton there was at this time" or pres
emily" but it never was in his mind
! before. At no meeting, at no time, at
no place was il ever suggested by him
that that was in that resolution.
Three-FOld Answer.
Ny answer to that first proposition
/ is three-fold: First. the agency never
existed; second, there was never any
corporate act manifesting a desire TO
get the stock to go to these men;
there never was any corporate act
manifested to acquire the stock for
/ the corporation.
I ask Your Honors attention to this
! in passing. When this gentleman
! ~ g FaN4r g n
T c. dupont what does he say in il?
He says he acquired this block Of
stock, part of it. for the men. He
said part of it for the men before that
letter was written. On the stand
questioned him and pinned him down
TO the admission that there never was
suggested a share Of It staying with
the corporation. On the contrary, he
said, Il considered il an opportunity
to make a loss for the corporation and
not a profit. The corporation had not
penny's worth of interest in It at
all, but I saw it would make loss
for the corporation il l put IL through
and not a profit; but he suggests
showing that the ruling passion was
strong, and that his idea was that
some Of it was TO go TO the men. These
two men had only one idea. and that
was to pass the stock to the en-
ployes of the corporation for their
own good and the good of the cor
poration and they carried IL out The
record of this case shows that out of
that entire purchase. some twenty-one
thousand shares alone belonged TO
Pierre s. dupont. If Your Honor will
look at the answers TO the interrogo-
tories which have been fled you will
ascertain this to be the truth.
The second proposition was that
they got this through their official
relations to this corporation in a
monetary way. Is that true? Is
there anything in this case more
thoroughly exploded than that they
made any improper use of their posi-
ton or standing?
No thing can be said with greater
truth than that a man is what he is
Whether it is through his official re-
lation TO a corporation or through his
own we'll known personal character
and integrity, whatever he is when
! he presents himself for loan IS taken
into account. Take Judge Gary, OF
} the United States Steel Corporation
going to effect a loan. Can he
separate himself from his corporation
7 from the mere fact that he makes z
loan in his own name? Something
comes to him as a credit. There is &
credit coming to man through his
personal relations to a corporation
! Could that be used against him and
given-as a ground for robbing him ol
personal and private liberty and pro
b fte in a nersonal transaction? Fal
from IT,
will not trouble Your Honor viii
what is fresh in your memory There
were fourteen banks that participated
81 in this loan. Mr.. Raskob said that 4
was closed with Morgan & Company
Mr.. Dawson, of Morgan & Company
81 said that it was closed with Morgan &
Company; they placed it with theii
customers. Why did they happen (,
select these banks, / wonder? Tit
answer seems 10 spring out Of thi
evidence itself, which says why not
/ These banks knew,of the dealings tina
were going on. They knew the bank
e in which they had deposits. The.
I largely distributed to these depost
e tories this money which was receivel
( from the Allies and that passei
, through the hands of Morgan Com
pany. OF course they would natural
ly seek the people who knew some
{ thing about this stock and about thi
D corporation and about these men; bu
Y these men did not seek them. chal
9 lenge the finding of the fact that the,
b used their place or power in an,
way to benefit themselves. They pu
thar indivfdua1 andorcanaenf ~, fl