The Penn's Grove record., 1916-10-27
TRUE ANERICAN|SM
War Brides Resent Income Tax
On .112 Per Cent. Profits.
Let Us Smile

In another column is an article from
last Sundays Wilmington Star in which
Is announced that there will be work for
the men on Carney Point after the Eur-
opean orders for war powder are flleJ
The skilled chemists and the efficient
business organization of the big dupont
Company is such as will meet the worlds
needs In a new industrial awakening
Whlch mas taken place of the old. when
the great European war is over. More
IMAM a year ago it was announced THAT
the demands for indus trial products ex-
ceeded the ordinary demands for war
powder. 1t has also been reported that
the duPonts made powder cheaper than
ffench manufacturers since their new
methods of recovering alcohol. ether and
water drying have been introduced.
Therefore they can compete with the
world.
The oil cracking plant on Deep Water
Point is in working order, but the large
salt peter plant is now being constructed
and will not be in working order. for six
months.
The fact that the Democratic govern
ment officials did not accept the offer of
the Company to erect a plant to recover
nitrogen from the air is to be locally re-
GREETED. Whether it was because some
OF the prominent officials were in poll
tics or whether it was because the Con-
gressmen thought a plant owned by and
run with government-eontrolled water
power would be more serviceable to the
nation at large, free from the changing
urhInR, ~ nAlsk,aa1 -
to decide for the general public welfare
or the individual local interest.
The income tax levy of II 1-2 per
cent. on the net enormous profits is
mentioned as a cause for political re-
sentiment. Unprecendent political activi-
ties have been put in motion to get the
workmen to vote for the Republican
candidates. This having been brought
to public notice, Pierre S. dupont, pres
ldent of the Company, in last Mondays
Philadelphia Record, stated that "The
company. as an organization had taken
no part in the campaign and has not
sought to influence it's employees. Some
of the employees have not hesitated to
emphasize their Importance in discussing
the political situation" He also said:
GfIAs TIA u III Int GLlptOt Oh lllS
company is free to vote as he pleases
and to work for whatever candidate, ma
tional, State or local, he pleases."
READS THE RECORD.
The Record has received a letter
from Charles X. Weston, publicity man
ager of the DUPONT Company, stating
that he had read the article in last
weeks issue on powder in Politics."
and sent Herewith a copy of Mr.. du-
Points letter to the Philadelphia Record.
the contents of which is published above
and elsewhere.
The letter proves our statement of
last week that the old-fashion industrial
heads of the company, the chemists and
promoters of business were too busy at
tending to industrial needs to get irri-
tated over a tax of $14 a share when
they had sos profit left and can sell
their stock for nearly three times the
value of two years ago.
DUPONTS STOCKS.
Turn to your stock market and see
that there are FIVE different DUPONT
stocks. By legal legerdemain four are
selling from 100 par to $105, because
the dividends were made low or fixed
on preferred. This preferred stock on
which only five and six per cent. is paid,
is what has been offered the workmen.
A few who had a tip to buy dupont &
Co. common and came into sudden
wealth and profit are the War Brides.
1t is worth $500 a share.
Some officials lave had their salar-
T. ol-a-ro1 a~1 4anafhnr With thair
incomes lave over $4,000 for single men
and $4,000 for married, and are hit
tby the income tax enacted by a Dem
ocratic administration. We do not
blame any man for turning Republican
who it hit by the income tax. If his
pocket governs his head, let hin give
his reasons. Others would gladly pay
the tax if they got the big profits.
POWDER PROFITS.
Turn to a Wilmington paper of March
2 and read: after providing for bond
interest and preferred dividends the bal
ance of $55.542,275 was 94.3 per cent.
on S5S. S54, 200 common stock for 1915"
Read again last June: '"The DUPONT Co.
paid S16,O OO. 900 in dividends which was
"a per cent"
The tax by Congress was II IL per
cent. on net profits. The tax article says
it mounts to $14 a share or o~ne-eighth,
which makes the profit 112 per cent, and
9S per cent. less the tax. This tax is to
last only while the European war lasts.
BY getting this tax business has been
relieved of stamps on deeds, bonds,
notes and other commercial business
transactions.
All the bonuses on wage and other
expenses have been paid before this tax
is imposed on net profits.
To avoid paying this tax which some
have been made to believe they have
been robbed of by a Democratic Con-
gress it can be sold for about $500 a
share and the money invested elsewhere
where the profits will not be taxed 10 -
per cent. or one cent out of 8 on the
earnings.