Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-01-28

,ana or an Englshman probably sent 10
yyiln1ington to inspect explosives prior
to their being shipped to Europe. Again,
tbere may be n vivacious group of oper-
oiic stars who are to perform in the
evening at the playhouse in the du Pont
I3uilding other guests include a bond
salesman or two from New York or Phil
odelphia and a considerable number of
,,en who have come to Wilmington TO
transact business with officials of f.. 1.
an Pont dc NemOurs & Co.
II has already been said that there are
fc,y evidences of war bride" wealth in
Wilmington This is true, but there is
peverthcless n small group of men in
tbot city connected with the powder com
nonv who have CLEANED up fortunes
since the outbreak of the war in Europe.
p. S. DU PoNT THE LION.
In this group Pierre S. du Pont presi-
dont of f. l. du Pont de Nemours e.
Co stands out conspcuously In tho
current issue of the American Magazine
the statement is made that he has prob
oblv profited more by the war than any
other individual in the country" That
Is putting the case mildly.
pierre S. du Pont and II other directors
NJ the powder company are defendants in
the suit now pending in the District Court
Of the United States in Delaware. Philip
n du Pont of Merton, Pa, and some
eight OtneG llltHlDtIS VI lllt uu L ont lull-
ilv nre attempting to force Pierre S. du
Pont and his Associates" to turn over
stock valued at more than S5O,OO0,0OO to
o. !. du Pont de Nemours &c Co.
The stock in question was purchased
less than year ago from T. Coleman du
pont, former president of the powder
company, for about $iiOCOOOO. It is
alleged that Pierre s. du Pont and the
other defendant directors betrayed their
trust to the stockholders of the powder
company by voting down an offer by
which the company itself might have
obtained this stock in order that they
might acquire 1t for themselves and real
lze huge profits on these war brides"
REALIZED S2o,OOOOOO.
whether or not the allegation is true
Pierre s. du Pont and his Associates
bought the stock in question and it has
increased in value by about 100000 in
the last IL months 1t Is asserted in
Wilmington that Pierre S. du Pont kept
the lions share" of these holdings, and
that he has personally realized more than
$40, CGO by the deal.
But that little transaction by no means
represents Pierre S. du Points only iron
In the fire He personally owns n block
of stock in the powder company amount
ing to many thousand shares, and has
realized on these in the same ratio as he
did on the holdings acquired from L.
Coleman du Pont. Some idea as to the
extent Of these personal holdings may be
: derived from the fact that Pierre S.
du pont and the other defendant directors
referred to are now rCputed to control
almost 40 per cent. of the entire voting
, stock issue of Il. /. du Pont de Nemours
& Co, This stock issue comprises 100000
shares Of common stock and 100000 shares
OF voting debenture stock. The remainder
ID ., tf. oil - n
Is in non-vot'ng dcDenture stock.
Another source from which the tremen-
dous wealth of Pierre S. du POnt was
acquired is found in his interests in the
Atlas and the Hercules Powder Com
panies which were created from the IL. J..
du Pont de Ncmours Powder Company by
the Federal dissolution decree of 1912.
The stockholders in the original powder
company kept their stock. and in addition
received many million shares in the newly
created companies This "gift' stock of
the Atlas Powder Company and the
Hercules Powder Company is now selling
In the neighborhoOd of $3.50 and $3.50 II
share, respectively, and has, of course,
paid handsome dividends in the mean
time. Stock in the du Pont Powder Com
pany obtained in 1912 has now realized a
cash profit of about 500 per cent.
Pierre 5. du pont is also credited with
having u large interest in the Aetna
Powder Company, which was formed
shortly after the outbreak of the war in
Europe. His cousin, Lammot Belin. is a
vice president and treasurer of the new
company, and as Pierre S. du Pont re
Gently Aarried Lammot Bcln's sister the
tie between the two has been made
stronger than ever. No one ventures to
estimate the amount OF money that the
president of T. I. du Pont de Nemours
& Co. may have made during the last
year in this field.
The number of similar enterprises with
which the name of Pierre S. du Pont Is
connected is too great to mention. 1t Is
the common statement in Wilmington
that "he himself doesn't know how many
millions he makes week" Some say
he has made $5O,OOO,OOO in the last year;
others assert that he has 'only" realized
about $4,000 OC0.
THE STORY OF RASKOB.
Another striking figure in the get
rlch-quiclS" group OF the powder COM
pany is John j. Raskob treasurer of the
corporation and member of the Finance
Committee. He was found" by Pierre
S. du Pont, and brought into the employ
Of the company as his secretary In
1902.
Time and again the story of the find
ing of Raskob has been printed. 1t is
said he was a conductor on street car
to the attention of Pierre S. du Pont when
he returned change for a s. bill given
him a week before. The story has
never been satisfactorily substantated
however. AS far as any one is able 70
learn, Raskob was born in Lockport.
New York. His father is said to have
kept a cigar store there, Raskob learned
stenography, and finally came into the
employ of the Lorain Steel Company
in Lorain. o.. and is thought to have
met Pierre S. du Pont when with that
company.
Raskob had a valuable asset in the
friendship of Pierre S. du Pont His
advance in the company was rapid and
finally eliminated i'm his appointment "a
the board of directors and positions on the
Finance and Executive Committees OF the
corporation. When Pierre S. du Pont re-
signed as treasurer of the powder COM
pany to assume the presidency made va
cant by the resignation of T. Coleman du