Every evening, Wilmington daily commercial., 1918-02-25


granting stock bonuses to members
of the Executive Committee under
the Company's stock bonus plan.'
The foregoing committee OF tho
: Directors consisted OF the following:
| p. $. DUPONT. Eug~ie e.. DUPONT,
| A. Felix DUPONT, Alfred I. DUPONT,
j. A. HASKELL j. i. Laffey. Henry
Belin. .Tr.. Alexis I. DUPONT. III. l.. du-
Pont. Francis /. DUPONT, William du-
! Pont. G. l.. Patterson. u. q. Buckner.
The committee met on January 81,
1916. after due notice Of the meeting
| had been given to all members of
| the committee.
| The following members attended:
| +. S. DUPONT, Eugene e. DUPONT,
| a. Felix DUPONT J. y. Haskell, j. T..
] Laffey, Alexis / DUPONT, II. II. dupont
Francis l. DUPONT, G. l.. Patterson.
| ut will be noted that among those
falling to attend this meeting was
Alfred 1. duPont.)
This committee reported to the
Board February %. 1915. that after
careful consideration of the matter
referred to the committee, stock ho-
muses. of the common stock of r. J.
| DUPONT deNemours and Company
were awarded under the Company's
plan To the following members of the
! Executive Committee, I'm the amounts
set opposite their respective names:
II. l.. Brown, $50 shares DUPONT
| Company Common: 1renee DUPONT.
400 shares DUPONT Company Com
mon: II. G.. Hakell. s25 shares. du-
| Pont Company Common: r. X. Nj.
| Carpenter. zoo shares DUPONT Com
pany Common: Lammot DUPONT. 200
shares DUPONT Company Common:
]. j. Raskob. 200 shares DUPONT
| Company Common; William Coyne,
| 200 shares DUPONT" Company Com
mon; +. l.. Connable. 100 shares du-
Pont Company Common.
| After receiving ind considering
said report the same was accepted
without dissenting voice. ordered
| filed, and the committee discharged.
Mr.. Francis |. DUPONT was present
at this meeting
| In asking the stockholders 20 re-
affirm the bonus plan and authorize
its continuance, Il is proper TO recall
10 your minds the reasons which led
the old Company TO adopt II and tire
present Company to continue II.
/ First and foremost among these
| reasons was the recognition of the
| facts, by those In charge of the af
fairs Of the Company, tin after all.
tho success of the company. and the
| profits to he returned To the stock
| holders. were dependent primarily.
| If not indeed exclusively. upon the
| energy. industry. ability. integrity,
devotion, and loyalty Of tho men who
were responsible for the conduct and
actual operations Of the Company,
| and that these men. were. therefore,
entitled in equity and good con
science tn a reasonable percentage OF
the profits obtained by their efforts.
/ Second IL was appreciated that
sustained personal interest in the
work and in the future Of the Com
| pany--w -wholekearted and unstinted
co operation I'm it's activities and loy
, atty among its component parts
were Indispensable clements in 4 big
successful enterprise. and that these
could only he obtained by having
each employee who was responsible
for the successful carrying on OF the
Company's essential operation feel
that he was actually in the position
where his future welfare depended
first upon his own work and next
upon the work Of his associates. In
! other words. the great mainsprings
| OF human action We're to be touched
! by tile effective generous, operation
| OF a bonus plan. the active principle
| of which was that the bonus award
| should be. as the Executive Com
mittee in 1904 expressed il. large
! enough to be a great reward to those
who fave earned it and a subject OF
| great emulation to those who hope to
| earn it,
/ AS to the situation developed un-
| der the operation of the Bonus Plan
| one other factor became increasingly
apparent namely that the full meas
ure OF the genius and ability of the
! exceptional men whose continued ser
vice the Bonus Plan Was securing.
could only be availed of by giving
them "a voice in the general manage
ment o. the Company, and III the
councils which shaped its policies.
Accordingly. a number OF them were
elected To the Board Of Directors.
and appointed TO position on the ri
nance and Executive Committees. It
is impossible to oyer-estimate the
benefits which have resulted from
accomplishing of the last three
years the proud position OF the
Company today.
It was realized. OF course, that il
would he unfair to those OF the men
referred 70 who should be appointed
on the Executive Committee TO de-
prive them of the Bonus Plan. Fur
thermore, the European War pre-
! sented to the Company unusual and
} vast opportunities. In order that they
should be promptly grasped the
, Board of Directors, among other
steps taken to that end, adopted
amendments &c" and "f' eliminating
restrictions from the Bonus Plan. thus
J making it an instrumentality for Sc
} curing extraordinary effort more
: nearly commensurate with the goa
sought. How sound was this policy
is sufficiently attested by the Won
lderful achievements OF the Com
pany's employees during the pas
three years and the marvellous re
suits which have flowed therefrom.
During 1915 it became evident that
owing to the obtaining OF favorable
war contracts. the earnings OF the
Company during thg., year would be
so large az TO render available for
distribution under the per cent.
feature of the Bonus Plan. a much
larger sum than was anticipated
when this feature vas adopted in
1900. Careful consideration was ac-
,ordingly given TO the question as 10