Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-05-07
?. 5. DUPONT WRITES
TO STOCKHOLDERS
Points Out Wrong View
Some Persons Have
About Judges Opinion
WILL NOT DISCUSS
CASE AT THIS TIME

Stockholders OF E. l. dupont de
Nemours and Company have received
the following letter from Pierre S.
DUPONT. president sent out under
date Of Friday last
Wilmington, Del, May 4, 1917.
ITO the Stockholders Of Z. ]. DUPONT
de Nemours and Company:
"There is enclosed herewith opinion
Of the court in the case Of Philip f.
dupont. ct. al. VS.. Pierre S. dupont.
ct al. This importat document was
prepared for distribution to stock
holders. but withheld in the expecta-
ton that the decree Of the court
hereunder might be sent with it.
Counsel for the plaintiffs in this
! case has taken exception 10 the state
ment in my circular letter issued
April 18th, 1917. viz:
The decision of Judge Thompson
is important TO the stockholders OF
=. I. dupont de Nemours and Com
pany. not only with respect to the ul-
innate disposition Of the stock pur-
chased from Mr.. T. Coleman DUPONT.
| but also in regard TO its effect on the
personnel of the management Of the
company. The latter has passed
through a two-year period OF great
est prosperity, due entirely to the
I prompt execution Of great business
development by those in charge of the
companys affairs. The executive COM
mitiee OF the board of directors. con-
sisting Of Irenee DUPONT. II. r.
Brown, r. R. NJ. Caruenter, f. L. Con
| nable, William COyne, LammOt du-
Pont, II. G. Haskell j. j. Raskob and
F. G. Tallman. together with the able
men that they have gathered about
them are the responsible factors IN
this success. Against these men the
decision makes no finding of bad faith
betrayal of trust or wrong doing OF
any Kind. In this Judge Thompson is
in complete accord with both the
plaintiffs and defendants in the case
as no accusation has been made
against the conduct Of any Of these
men The stockholders may rest as
sured that The management of the af
fairs OF the company remains as here
tofOre, in control OF an able body o.
men whose character is left unscath
ed By this opinion
"While the writer has carefully exam
ined the opinion OF the court and IS O
the belief that this statement Is correct
stockholders are invited to read tn
opinion with care and to determine thu
question for themselves.
1T should be noted that to date tn
court has entered no decree IN this suit
The enclosed opinion of the court vii
be later followed by final decree whic
likely will be handed down by tn
court after the special meeting Of III
stockholders Of your company which tn
court is of the opinion should be hel
for the purpose of giving the stockhold
ers opportunity Of deciding whether tn
company should purchase the stock
question. Some stockholders hay
wrongly concluded that the court has Dc
cided that opportunity shall be otfere
the stockholders, Individually, TO pun
chase their pro rata share OF this stool
Such. however, is not the case. III
opinion of the court clearly states th
stockholders arc TO vote on the questio
, of whether or not the company shall az
. quire for itself 3,3l4 shares of the CON
mon stock OF T. J. dupont de NemouI
Powder Company and l2662S shares G
the common stock Of +. l. dupont d
Nemours 81 Company
Mr.. duPont's letter sets forth an a,
counting of the stock bought from i.
DUPONT. with the dividends paid on
and legal interest thereon. such as wa
filed i'm the United States Court las
week, and concludes
Until a court decree IS entered,
I is improper that the writer shoul
! enter into any discussion Of the case
The copy of the opinion and the fore
, going data. however, constitute infoI
nation that the stockholders shcul
have and it is therefore supplied An
= stakeholder is. of course. at libert
) to address TO the directors or officer
Of the company, any inquiries he ma
3 wish to have answered in connectio
] with this important litigation. Pierr
S. dupont, President"