Every evening, Wilmington daily commercial., 1918-02-25
DUPONT BONUSPLAN
TO Be AN ISSUE At
ANNUAL MEETING
Pierre du Pont, President of the
Company, Asks Stockholders
10 Approve the System.
AN AMENDMENT PROPOSED

Tho du Font companv's bonus plan,
ndcr which more than Sl0.DO,Om WAS
lstrihutcd among employees IN two years,
vii he gwen special attention by tho
Stockholders at the annual meeting, to
he held on March II. With a call for
the meeting. which has been issued,
here - bcIng sent long letter from the
directors and signed by Pierre :. du Pont
president of the company giving the
complcte record of these awards and ask
inc that the stockholders approve the
,rtion taken IN each individual ease, rs
we'll a. the administration of the bonus
plan ln general
\ proposed amendment 20 the bylaws
Is submitted. designed to give the directors
unquCStlunahlc power to continue and to
alter or amend the bonus plan. 80 that IN
the future there may bC no possible
ground on " hlch TO question the awarding
~ bonuses. which officers uf the company
declare has done moS 10 bring about the
phenomenal success of Its wartime &C
tlvitv than any other one thing
The shareholders not only arc asked To
approve the awards that have been ulsdo,
lut "a take q husnCSSlikC view ~ the
future which the president points out
looms large with wonderful business
possibilities
In considering The future policy Of
the COMPANY, he SAYS. u should bc
remembered hat tho people of | mtcd
-talc> hay now joined tho \llics IN the
Usr With Germany cur government
has placed with us such large orders that
" ar again compcllcdto greatly enlarge
nur plant and equipment FOR manufacture
tng We have Stll Ia solve many great
rrnhl-u,- connected with tins work
Patriotism. therefore. requires that we
take no hackv ard step now that will IN
The slightest reduce the present high
efficiency 81 our operating forces Fur
thor. when tho war ends VIC shall have
military powder plants aggrcgatIng =
value oi upwards a S60 600 600 which will
bc supcrtluous for ordinary purposes.
Mess We can then tind now uses for these
plants. thcv will then become valuClcss.
NrcadN the men who 50 successfully met
The recent extraordinary emergency
quickly and understandings scizIrg and
developing the opportunity which the
war created are engaged with equal
energy and foresight IN working out plans
for tho use of these vast works alter the
var Ii can hardly bc To the interest OF
the stock holders that our employees should
he deprived of the stimulus to successful
cnacavor which the Bonus Plan affords
The letter 10 the stockholders gives n
history ~ the bonus plan from ITS incep-
fIon m l9u5. hen the old powder com
panN hrst adopted n.
THE UoNrS rLAN.
Tho honu- plan rs originally proposed
irnvldcd that seven per cent OF the
,rofits after paving siN per cent on the
irbcut,lrc aud five pcr cent on the com
4 Il
mplnvc~ The war contracts ot 1919
nd 1916 brought such large profits that
hIs seven pcr cent Was vastly IN excess
4 what had been distributed heretofore.
or th, wear 1918. the earnings. after
rc,llar dividends had been set aside. were
nor, than as .oeO.0 of this sum 4
rfflc more than 81 0O0.0 900 was awarded
= emploVcs. the rest going to common
fockholdcrs For the wear 1916 tho
,arnlngs above fixed dividends amounted
a more than Sill O00. 600 of which
more than ST. 100000 was invested In
took aw ardcd as bonuses. These awards
serr vhai arr known As { lass b
BONUSES There Is another, known as
Class awarded for conspicuous
services The total cost to the company
II the stock and cash distributed during
these Two wears IN both classes was
slOS76 .070 o.
l. Is pointed out IN the letter 10 the
stockholders that the stock awards made
under the bonus plan do not become
immediately the property OF the employees
Il Is only after FIVE wears Of continuous
service that the stock Is finally delivered
to the beneficiary. he being credited with
one-siNtleth OF II each month. the design
belng 20 have each recipient deeply and
continuously Interested IN working for
the greater success OF the company
The bonus awards for 1917. have been
d,.laved. pending the action TO be taken
a. thls meeting. the letter saying that the
Director feel that before proceeding fur
ther with the execution OF the bonus plan
'h,y should know whether II still has the
approval 81 The stockholders. and If not
vhai change hey desire made.
PRESIDENT ~ FONTS LETTLR
following Is the text Of President
Pierre du Pont : letter to the stock
holder
continued on page