Evening journal., 1918-02-22
DU PlNT COMPANY
Gets INTEREST IN
General MOTORS
IContInued ION FIrsl Page.l

Continued From First Page.l
eral Motors. This is 70 be accomplished
through the doubling OF General
Motors present capitalization and the
exchange Of iis shares on the basis Of
one and one-seveuth shares for each
share OF Chevrolet When thesprocese
Is completed there viii be only General
Motors stock outstanding This com
pany now has s20OOoo00 OF six per
cent preferred stock. which will be in
creased % S1OO0OOOO and SS2 6OOOO0 OF
common. which Will be increased 10
SiJ000O.OO0 raising the stock capital
from si02. 100000 10 S200000.O00 OF the
$50. 10000 OF common stock. Si5.OO00O0
was acquired by the Durant eroup and
Is lodged in the Chevrolet treasury
Directors issue Statement
This increase In capitalization was,
decided upon al "a meeting OF General
Motors Directors yesterday, with the
following explanations
The board recommended that an OF.
Ter be made To- purchase The assets OF
the Chevrolet Motor Company. exclu.
siye of ITS stock holdings In General
Motors Corporation. paying therefor
2s2,6si shares Of the common stock or
General Motors Corporation. This stock
together with the 10000 shares OF Gen
eral Motors common stock now In the
treasury OF the Chevrolet Motor Com
pany. VIII amount 20 732 6si shares or
IL shares Of General Motors Corpo-
ration common stock for each share
of Chevrolet Motor Company stock nov
outstanding.
e. J. dupont dc Nemours & Co
announced their acquisition Of substan
tial stock holdings In General Motors
Corporation and Chevrolet Motor Com-
pany, ia which they. together with "
C. Durant. now own the controlling
interest. Their purchases were COW
cred nearly entirely by private CON
tract
1T is part OF the policy OF the COM
pany 10 acquire industrial interests.
which will replace their military busi
ness after tho cessation OF hoslilltles
AS Is we'll known, the motors companies
are thoroughly equipped Ia every par.
ticular. especially In their organization
Of practical men, which Is accounted
among their most valuable assets. Mr.
Durant viii continue president OF the
motors companies so ably developed and
operated under his management and In
which he Is still the largest stock
holder.
"E l. dupont de Nemours & Co are
now represented on the Board OF Direc-
tors Of General Motors Corporation by
J. a. iIaskin. j. J. Raskob. p :. du-
pont. irenee Dupont. and Henry du-
poni the two last named having been
elected directors yesterday. II NJ Barks
dale Vice-president Of + J. dupont DE-
Nemours g. Co. is a director OF Chc,-
rolet Motor Company.
Mr.. Durant Remains Chairman.
"The majority Of the directors o
General Motors Corporation VIII con
tinue as at present. 10 consist Of Nh
Duranl chairman The managers @
the chief departments Of the company
who have shared In the development %
the motors industry. and other mef
long Identified with Mr. Durant 10 hi.
enterprises
In addition 10 their election as mem
bers Of the board Of directors OF Cen
I eral Motors Corporation. lrenee dn-
/ Pont and Henry 2. dupont were elected
members Of the finance committee of
General Motors Corporation Louis @.
kaufman resigned as member Of the
finance committee and chairman therc-
or, but continues as director.
The new finance committee consists
of !. j. Raskob. chairman; p s. du-
poni. II. +. dupont. Irenee dupont "
c. Durant. J. a.. Haskell and j. n Me
Clement
The new executive committee consists
Of W. q. Durant. chairman; w p
Chysler. u. n. Collins. W. L. Day j..
A. Haskell. z. Yer Linden anf F. W
Warner.