The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-03-07
monopoly which existed before the

monopoly which existed before the
war,
The manufacture of varnishes and
colors is another industry which hls
been taken over and. the report says,
promises good results. The relation
OF tn industry to the explosives lies
In common interest in the production
OF so-c1lled heavy chemicals in which
the DuPonts have been engaged for
many years 1t also bears close re-
lauon to the production of dyes The
manufacture of Py-ra-lin, entered into
by the DuPonts through the purchase
of the Arlington company has been
doubled since this plant was taken
over In. 1915 and under peace condi-
, aons has great promise 81 future &C.
| The General Motors Deal.
The report deals at length with the
purchase OF large interest In the
General Moters corporation saying:
! while there Is no immediate rela-
uon between the explosives industry
and the manufacture OF motors this in
vestment was made in such a way as
to give opportunity for our financial
organization to be of service and at
the same time increase greatly our
financial strength. The large engi-
neering and construction forces Of our
company, the development. legal and
accounting department facilities cou-
pied with the demands Of the motor
industry for talent of that kind, has
furnished connecting link which
eeems desirable in all investments. The
consumption of paints, varnishes and
faprikoid In the manufacture OF auto
mobiles gives another common inter-
est In entering this field it was
necessary to make investment In q
thoroughly developed property. This
has been found in the General Motors
corporation. already equipped In a
most thorough manner with technical
men of experience for the proper con-
duct OF its business. The officers OF
+. l. Du Pont de Nemours and COM
pany are fortune In having. secured
27.6 per cent interest In this corpo-
ration as IT now stands equipped with
factories for producing all kinds OF
cars. tractors and trucks, together with
the greater part of the accessories
needed in their manufacture. We feel
fortunate also In our partnership with
William c. Durant, president OF the
General Motors corporation and the
rather and leader Of the motor indus
try not only in the United States but
In the world. This alliance leaves the
management and general conduct of
the General Motors corporation as
heretofore. except, that the RESPONSE
piiity for financial management il now
shared by the officers of our company.
The general function of the DUPONT in
terests is advisory only, though al
ready there has sprung up an intimacy
between the organizations that prom
ises great benefit through the ex-
change of facilities and use of inpor-
tnat men for specific duties to which
they are particularly well adapted"
Bonus Payments Helped
The president of the company pays
a most glowing tribute to the employees
who have made this great war work
possible and says that ''in seeking
means OF continuing this satisfactory
conduct OF the company's business. too
much cannot be said In favor OF the
bonus plan of the company. The off,
GERS and directors believe 1t has been
OF great value In securing and retain
ing at highest efficiency the best men
In the explosives industry" For the
year just closed s0oe shares of De-
benture stock and $3.50 shares of COM
mon stock costing $3.1s2.AaS.72 have
been distributed to 2,32s employees
The Total cost of these securities dis
tributed for the four years 1sl5-1sIs
has been s16.37a.914.1l OF the 1903
stockholders 3.220 or as per cent are
emnioyes OF the company.
The report calls attention to a suit
which has been brought by group OF
stockholders attacking this distribution
under the bonus plain, which has been
In ERECT for twelve years. This action
the report saws was the more surpris-
Ing because the suit was not brought
until these stockholders had been en-
riched without effort on their part by
dividends almost equal TO the total
bonuses paid out TO the workers dur
ing the first two years of the war
period. IT liz to be noted also that the
leading stockholders in the suit have
participated both as officers and d.
rectors of the company in the estab-
fishing OF the bonus plan and In it's
administration.
Lewis Is Candidate.