Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1918-02-25

specifically stated to Mr.. ?. s.
DUPONT that ] had always disap-
proved OF the distribution or the
Stockholders funds under our
present bonus plan and for that
reason ! could not endorse tho
present bonus plan. and hence the
specific wording Of the resolution
as offered IL. As IL Is now eN-
pressed in Mr.. =. $. duPonrs letter
TO the board Of directors II gives
an erroneous impression, which I
hasten to correct. ] might fur
thermore state that the list Of
awards to certain members OF the .
executive committc as shown In
Mr. =. $ duPonts letter. repre-
sent his recommendation and arc
not the result Of any discrimina-
ton by the finance committee
itself
submit this letter as matter
OF record. and viii ask that you
read IL TO the board OF directors
when Mr.. D. s. duPonts letter Is
brought up for consideration
Yours truly.
CSigned) Alfred I. DUPONT"
After considering said resolution
and said letter. the board unanimous
ly passed a resolution reading as fol-
lows;
Whereas. the board OF directors
has heretofore authorized the grant
ing OF bonuses TO members of the
executive committee under tho COM
panys stock bonus plan. and provided
that the finance committee he auth
orlzod ana empowered TO act I'm the
matter OF granting such bonuses TO
members of the executive committee;
and
Whereas. the finance committee
has not agreed on a recommendation
for such bonuses.
Therefore. be IL Resolved. That the
matter of granting stock bonuses
under the company's plan to Nom
bers Of the executive committee Ice
referred 20 a committee Of the direc-
tors of this company. consisting of all
the members Of the board of directors.
except such directors as are members
of the Executive Committee with full
power to act finally in the matter of
granting stock bonuses TO members
Of the Executive Committee under
the Company's stock bonus plan"
The foregoing committee Of the
Directors consisted Of the following:
=. $. dupont EugsIc T. dupont.
a. Felix DUPONT, Alfred l. DUPONT.
j. A. HASKELL, j. p. Laffey. Henry
Belin. Jr.. Alexis I. DUPONT. II. F. du-
Pont, Francis ]. DUPONT, William du-
Pont. c.. L. Patterson, e. 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:
i. S. DUPONT Eugene T. dupont,
A. Felix DUPONT. j. a. Haskell. j. =.
Laffey. Alexis I DUPONT H. +. DUPONT
Francis !. DUPONT. c.. l.. Patterson
ct viii 5e noted that among those
failing TO attend this meeting was
Nlfred 7. duPont)
This committee reported TO the
Board February %. 1916, that after
careful consideration of the matter
referred to tho committee, stock bo-
muses. OF the common stock OF =. l.
DUPONT deNemours and Company
We're awarded under the Company's
plan 10 the following members of the
Executive Committee. in the amounts
set opposite their respective names:
49, T.. Brown. $50 shares dupont
Company Common; Irenee dupont,
400 shares DUPONT Company Com
mon II. G.. TIakell. 325 shares. du-
Pont Company Common; r.. r. NJ.
Carpenter. 200 shares DUPONT Com-
pany Common; Lammot DUPONT. 200
shares DUPONT Company Common;
j. j. Raskob. 200 shares dupont
Company Common: William Coyne,
200 shares DUPONT Company Com
mon: i. l.. Connable 100 shares du-
Pont Company Common.
After receiving and considering
said report the same was accepted
without dissenting voice. ordered
filed. and the committee discharged.
Mr.. Francis 7. DUPONT was present
at this meeting.
I'm asking the stockholders 10 re-
affirm the bonus plan and authorize
ita continuance it is proper TO recall
TO Your minds the reasons which led
the old Company TO adopt it and the
present Company to continue Il.
First and foremost among these
reasons was the recognition of the
facts. by those in charge OF the af-
fairs OF the Company. q nt after all.
tho success OF the company, and the
profits to be returned to the stock
holders. were dependent primarily,
II not indeed exclusively upon the
energy. industry, ability. integrity,
devotion. and loyalty of the men who
were responsible for the conduct and
actual operations Of the Company,
aud that these men, were, therefore
cnliilcd in cnultv and good con-