Evening journal., 1917-10-10
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The wonderful showing OF Pierre S.
dupont and his associates at the OUT
set disclosed a great victory for them.
Hamilton NJ. Barksdale, a director Of
The company, voted the big block OF
stock Of the defendants and that OBJ
taInod by proxy.
w. A.. Glasgow, Jr., Of counsel for
the plaintiffs, flled q formal protest
against the question OF the purchase
OF the disputed stock being submitted
TO the meeting.
He also. on behalf OF the plaintiffs,
protested against the counting OF any
stock owned by the defendants or by
any employees Of the company, or by
ANY person under the influence or
control Of the defendants
The plaintiffs had not voted their
stock up to > o'clock, and II was re-
ported they might not cast their votes
although their ballots were prepared.
The plaintiffs intend te-attack the
result Of today's meeting before Judge
Thompson, and to try to have consid-.
cradle Of the stock voted excluded
from being counted.
The vote today is being taken In ac-
cord with the decree Of Judge J. Whit
aker Thompson, who sat In the United
states Court in the case Of Philip +. du-
pont and others against Pierre s. du-
pont and his associates. Philip +. du-
Pont and the .co-complainants, who in
clude Alfred ]. dupont Francis j, du-
pont. William dupont and some others.
alleged that tho stock offered by y.
Coleman dupont should have been
bought by the powder company Tor
itself. and that Pierre S. dupont and
his associates lawfully were not en-
titled TO buy it for themselves. The
plaintiffs asked that the defendants be
required 10 turn the disputed stock,
with the dividends on It over to the
company at a price originally paid Tor
Il by the defendants 90 n. G. dupont.
The disputed stock at issue today m
olides 633l4 shares of common stock
of the old DUPONT Company, l2b'62s
shares of common stock of the new
dupont Company, and 4,539 shares Of
debenture stock OF the new dePont
Company. The stock at issue Is valued
at about S40O00,OOO and the dividends
paid on il aggregate about S20OOOO0O.
Judge Hastings announced that the
polls will be open from II o'clock noon
until 6 o'clock this evening. The canvass
of the vote may require several days.
Considerable of the stock is being voted
by proxy.
OF the 6OOO shares of stock issued
the disputed l2662s shares h barred
from being counted. and there is some
treasury stock that will not be voted.
This leaves 473l32 shares eligible to be
voted today.
In calling the meeting to order, Judge
Hastings read extracts from the decree
aled by Judge Thompson In the case.
Mr.. Hastings also made a speech in
which he outlined the procedure he
expected TO follow FOR the meeting.
After quoting at length from the de
cree and telling of the legal prelimi
naries he had complied with, Judg
Hastings announced:
"Fhis being the day. the hour an
place designated in said notice for hold
ing said meeting, ! do hereby call th
meeting TO order.
Il appoint Charles G. Guyer to az
as secretary of the meeting, and he wi
make stcnographic notes of all tn
franspires between the special mast,
and any stockholder. and the speciI
master and the counsel for the con
plananis or defendants In this suit.
"Tho decree provides that each bal
lot shall contain a copy Of the fesolu
tion voted on, and for the convenieno
OF the stockholders the special maste
has prepared a ballot which ne desire
The stockholders TO use. or course, th
stockholders are not in any way com
PEELED TO use this particular ballot
Paragraph i6 Of The decree may be
compiled without using this particular
form. Inasmuch, however, as the bal
lots have to be returned to the court
it would be a great convenience to the
special master and to the court To have
the ballots uniform, and for that reason
the stockholders are requested TO ust
the ballots which have been prepared
for them.
"All ballots offered, up until G
O'Clock today, will be received by the
Special Master AT o'clock today
we will take a recess until tomorrow
morning and then begin to examine
the ballots for the purpose Of count
ing the votes. When we begin TO
count the ballots counsel on either
side will have an opportunity to make
any objection they care 10 make with
respect 10 any ballot II is not pos
sible 20 examine and count the ballots
as they are received, but both sides
shall have an opportunity to fully eX-
anime each ballot before it is counted
by the Special Master for or against
The resolution
The Special Master will have
clerks OF his own selection to enter
.ne number OF shares voted for and
sesusC me resolution, i'm duplicate,
~, es are announced by him Coun-
SCI on ether SD. may er1,,. 800 -.
~ lheiI own for. the purpose of veri-
Tying the work done by CLERKS annoI,t
ed by the Special Master. Sncb nor
sons so selected can either verif,. tb
work done or make separate Net,
whichever they prefer. II such mo,
sons are selected by Counsel the
names should be reported to IN
Special Master. The secretary wi
please make this statement a mart
the minutes Of the meeting.
'The polls are now open"
Judge Hastings introduced
above remarks by reading the folio
ing:
Pierre S. dupont ct al. being No.
In equity in the District Court of
United States for the district of d
ware. Hon. J. w. Thompson. the
trict Judge, on August IL, 1917,
a decree, which among other things
vided as follows:
"sss g That the question whe
said +. / DUPONT dc Ncmours and G
pany shall acquire said stock and
dividends or proceeds OF dividends tn
on. shall be submitted TO the ST
holders of said corporation at a m
ing to be called for that purpose by,