Evening journal., 1917-04-13

Quantity,
pounds.
cannon OBSERVATION-DISCLOSURES oo'-ul ~
Rifle OBSERVATION-DISCLOSURES. a'H9-'1uV
Guncotton NEUTRALITY-SUSPICIOUS.. o'llz'OJv
Triton OBSERVATION-DISCLOSURES. o'"o4'''J
Total Observation-Disclosures. 55,909,575
In addition 10 the above we have Of
fers for l4,027.5 500 lbs
Your afIectionate cousin,
Pierre $. DUPONT
In this letter Coleman's proposal to
sell his stock is still under consideration
and it appears that the stock on Jan
uary 25th had risen 10 the price of ISIS
or 100 ON the market. IL also shows
what was Pierre's judgment of the div
idcnd earning value of the stock.
The conversation with Mr.. kraitmeier,
referred TO in the foregoing letter, was
later the subject of discussion between
Pierre and Alfred aud the suggestion
was made that Pierre, Alfred, William
and Coleman deposit their stock for the
purpose of preventing what seems TO
have been feared by Mr.. Kraftmeier, and
In pursuance of that, Pierre wrote 10
Coleman as follows:
January 2sth. 1915.
Ny dear Coleman: In talking over
the Kraftmeier rumor with Finance
Committee, il was suggested that we
four large stockholders place our stock
together for a period of time covering
this extraordinary war condition with
an agreement that tho certificates would
not be sold or used as collateral unless
BY common consent. / do not think IL
was intended TO mean that any individ-
ual would be forbidden TO use his GER
tihcates without consent of the others.
In my opinion it would be better to
agree that one could not use his certih-
Gates unless the others knew about it,.
Alfred proposed that any loans that
might be now outstanding with DUPONT
stock as collateral could be taken up by
tho company and thus enable each indi-
vidual TO carry out the plan. The com
pany could not suffer by this as they
rannot put out within a reasonable time
their large cash balance at more than or
uinary interest. Surely with company
stock as collateral it would be more than
safe. After suggesting this plan Alfred
stated he had no loan on his stock, in
. way that suggested proposal for a
showdown. Willie then stated that he
had no loans. / said that l had none.
As far as l know neither was acquaint-
pd with the others proposition up ia
that moment. They then asked me To
communicate with you to see II you
would approve Of the plan as outlined
Personally, 1 think II a good idea, a.
our ability to state positively that con
troll of the stock was absolutely SAT-
would put our foreign orders in nue.
better position. Our business with tn
side OF the Allies is so large now
.toImqy mean to them the turning point o
The war. IL is therefore, of the utmos
Importance that they know our situa
ton. If you approve the plan and ar
IN position TO have Lou Durham put
through, it would be very good thin
TO tell Mr.. Kraftmeier that we have dc
termined to do this in order to assnr
our customers of the true position.
"Your aiIectionate cousin,
"Pierre S. DUPONT"
To this Coleman replied;
Rochester, Mimi, Jan. 81, 1915.
Dear Pierre-I am in receipt of YOU
letter of january 2Sth, in regard TO dc
posting stock and am sending the an
Ewer through Lew in same mail, if it
not inconsistent with what he has don
since left and the statement I mad
from memory correspond with the n
cord he will take or mail IL TO you.
have been out of touch with the detail
left in Lewis hands so long that thi
Is only fair to him and me, neither d
care to give you ancient history.
"Your aft. cousin,
Coleman dupont"
Pierre and Alfred had some discussio
on January 23rd and Pierre testified tn;
at that time he told Alfred that Col
mans offer had been turned down" /
William and Alfred on December 23r
Alfred denies that Pierre made Oh
statement TO him on January 23rd al
states that he had no conversation wit
Pierre on the subject of Colemans off
until February 10th on which date the
was a meeting of the Finance Commi
tee at which Pierre, Alfred and VILLA
Nvere present. The evidence bears Of
sAlfreds statement. Alfred testified
Follows, in relation to what occurred
that meeting;
- GAS was about TO leave the rooi
] remarked to Mr.. p. S. dupont, He
are the negotiations for the Coleman d
Pont stock progressingf He remark
to me, why, they are all off, / sai
Since wheng I had not been inform
that they had been called off. He sal
'They were called of shortly after VI
land Mr.. William dupont turned doy
mis- offer in December / said, But {
offer was not turned down I sal
There was merely difference of OPT
ion as to price, and it was my undo
tstanding chat you wer TO convy to
G. dupont through Mr. Durham the j
formation of the fact that we belle
the price that he demanded for the stoC
OF one hundred and sixty dollars a shai
70 be excessive, and we suggested o
hundred and twenty-five dollars a sha
as proper price for the stock at IN
time Mr.. p. S. dupont said, 9Th
was not my understanding My und,
standing was that you turned down \
l. = duPonts offer definitely I q
peaied to MIR. William dupont who =,
seated across the table. within &
iel OF me, and ! asked him whether
understanding was consistent u-itb ,
own. lie said il was. / tbaD sa;a
ar. p. 5. dupont, there seems A. u.
'sen some MISUNDERSTANDING as 70
poSition taken by Mr.. William d,,p
Add myself as TO the meeting in hoo,
~. and 1 desire to have this ma
cleared up ] said, You have unint
stoaally misinformed Mr. I. c. dup
ns-j suggest that Mr. William duI
aai J write to Mr.. 4. G. dupont set
krsi, our views Mr. p S. dull
Asrscd that that would be an excel
,g.rse to pursue. 1hereupon / a
a.. p. s. dupont if he would XII
sel,I me such correspondence as had ,
e.i between himself and Mr.. Dunbar
*. T. c. DUPONT IN reference to
1. a.