Evening journal., 1917-04-13
Decision in dupont Powder Case

CONTINUED From Page Fifteen)
because there is no evidence TO either
support or contradict it.
IS. Answer: II is so found. J. p.
Morgan & Company also relied upon the
Official connection of Pierre and his as
socatcs with the Powder Company.
50. answer: This point is declined
because it involves n conclusion not sup
ported bv the evidence as to what was
the usual and ordinary course of J. +.
Morgan & Company's business. IL IS
found that j. T. Morgan 4 Company did
rciv npon the value of the stock and the
personal guarantees in addition TO the
other circumstances inducing them 20
make loans as hcrcinbeforo found in this
opinion.
81. Answer: This request is declined.
The facts in evidence show that there
WAS an understanding on the part of
Pierre and Raskoh that the depository
banks were 20 participate in the loan
81. Answer; This request is declined.
G5. Answer; IL is SO found, provid-
ed the Company had purchased upon
the terms dictated by Pierre and his
associates and the term their interest
refers TO the number of shares they were
to receive under either arrangement
They had 40 that time a personal inter
est In carrying out what would be 60
Pierre's interest in preference TO the in
terests of the stockholders.
&C. Answer: This request is declined.
The evidence shows that Mr.. Laiey
could have had no information upon
which TO volunteer such statement. un-
less he had been askd the question by
Pierre.
"a. Answer; Il is so found with the
qualification that the voting In favor of
the resolution, Of tho shares for which
the proxies were obtained through the
circular letter hereinbefore referred TO
was a fraud upon those stockholders and
the company, and the result so obtained
is null and void.
IS. Answer; The latter part Of this
request is declined from the words "but
the statements" 10 the end of the re-
quest The words Total Working Capt.
tall used upon the forms were used i'm
the commercial sense 60 indicate the
quick OF fluid assets and those quick and
fluid assets were considered as its work
ing capital by the Company. As TO the
first part Of the request, it is found as
stated therein.
rs. Answer; This request is declined
70. Answer; This request is declined
81. Answer; This request is declined
except as to the statement in the first
paragraph that Pierre purchased the
stock of r. Coleman DUPONT for himself
and his associates.
50. Answer; This request is declined
FOR the reasons hercinbefore stated in
the discussion of the effect of the vote
of approval.
AS TO all of the requests of the defen-
dants for findings of fact, with the ex.
ception Of those above specifically an
awered, ] find as requested and such
findings are made the findings of the
Court and a part of this opinion.
The plaintiffs requests for conclusions
OF law are answered as follows:
J.. Answer; It is so found.
p Answer: II is so found.
3. Answer; u is so found.
a. Answer; Il is - found.
:. Answers IL is so found subject To
what has been stated as the conclusion
of the Court upon the submission of the
question OF acquiring the stock to a meet
ing OF the stockholders of the Il. l du.
Pont de Nemours & Company, and pro.
Nided the stockholders decide that th,
Company shall avail itself Of its riqhl
''-.@ r ,quire the stock.
The defendants requesta for cpnclu
sions Of law are answered as follows,
J. Answer. This request is declined
2. Answer: This request Is declined
3 Answer; This request is declined
4. Answer: This request is declined.
D. Answer; This request is declined.
The latter part of the request is a mixed
conclusion OF fact and law and too broad
to be justified by the evidence.
o Answer; IL is so found.
Z. Answer; This request is declined
IS applied 10 the Powder Company if tbe
word Speculate is used in the sense
OF purchasing its stock for investment.
for retirement or for resale.
s. Answer; This request is deslined
as having no relation TO the facts IN this
case.
Q. Answer; This request is declined.
IN view of the sense in which the de-
PENDANTS have used the word surplus.
10. Answer: IL is so found
H. Answer; The general proposition
Of law is correct, but it has no bearing
upon the facts in this case and is there
fore declined. The action of the Board
was obtained under circumstances which
made II fraud upon the Company and
the stockholders The fact that there
were existing conditions which would
justify the exercise OF a fair discretion
becomes immaterial.
-. Answer: II is so found.
l3. Answer; IL is so found.