Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-04-25
'I|lvZI| ''''
llSSTOCK PLAN
er Company Denies
nspiracy in Reply to
D New Litigation
LED AID TO SERVICE
Halls Contend That Gifts to
Employees Has Increased
Earnings
WILMINGTON. Del. April %.

w Del. Aprll 20
Ulcers and directors OF the dupont Com
today filed answer in the Unite,
~ District Court IN the suit instituted
1F Z last by Eleanor DUPONT Perot. o
Mantown. in which she attacked thu
tany's stock bonus plan.
III. Perot was one of the plaintiffs who
I'D with Alfred I. dupont In the stock
cbase suit recently decided In favor OF
plaintiffs and of which the late John
johnson was chief counsel. The
wer denies fatty every charge of fraud
conspiracy made By her and points out
the bonus system has been In oper-
on since 1904 and that as administered
the company II has been of incalcul-
g value In effecting faithful and eff
nt service from employees.
1.-The counsel OF record who will defend
- suit are United States Senator Phiian-
F q. Knox. Of Pittsburgh; Richard "
odabury. one of the chief counsel In the
)oI Trust litigation Congressman George
9raham, of Philadelphia, who was coun.
IN the stock-purchase suit: william s.
Hes. Of Wilmington: William II. Button
New York, and Judge John =. Laffey,
neral counsel of the du Pont company.
Up to date, the answer says, several thou
md employees have become partners IN
ne corporations activities through the
FVrkings of this bonus plan. large ma
1f1ty of these beneficiaries are minor en-
0oyes of the company.
CONSPIRACY DENIED
The defendants absolutely deny exist
nee of any conspiracy or scheme having
~ its purpose distribution to themselves
n other favored employees of the assets
the company to which they were not
rhAtr al.
~ thought of increasing their control of
- corporation through these distributions
y alleged in the bill Of complaint
They deny the allegation that the stock
~ been voted by n bonus trustee. 1t has
IN voted by those in whose names 1t was
iced as reward for their services None
the defendants. the answer says, has at
1opted to exercise any control over the
v<ing OF this stock or has in any way sug-
ceted to holders how they shall vote The
eqver states that there has been expended
ON the fund of Il. |. du Pont de Nemours
Co. (the present operating company
ON the time of its organization until the
ing OF this bill the sum of s10.S77.566.9l,
n purchase of bonus stock.
IN answer to the paragraph in the bill of
lmplaint asking for the names of the
pnders of this stock the defendants say
~ the bonus stock was acquired from
me to time In the open market at the best
rice for which 1t was possible to pur-
1ase It,
One section on bill of complaint refers |
Decifically to an award OF $3.50, 900 made |
Colonel Edmund q. Buckner. director
military sales for the company.
REWARD TO BUCKNER
The answer states that this award was |
Ade TOR most conspicuous service rendered |
Solonel Buckner and was made In due |
clrse and by proper authority. Colonel |
eckner is vice president a. the COM !
ny and Is the man who had personal |
4rge OF all the negotiations which brough. |
the du Pont Company the hundreds of |
1lions of dollars in contracts for war {,
Qnitions supplied to the beliigerent ma
pns or Europe which have become allies |
n the United States since this country
ciared war on Germany.
NO intimation has been given by Alfred
and Philip du Pont, the latter of Merton
I. as to who will succeed the late .Jobn
gJohnson as counsel. William A. elias
~, OF Philadelphia. who assisted Mr.
nnson- may. however be made chief coun: