Evening journal., 1919-03-05

!
shares OF common stock of L. !. du Ponf
dc Nemours Powder Company, 24,3Ol
shares Of debenture stock of L. J.
du font de Nemours s Company, A., $50
shares Of common stock of 4. l. du Pont
De Nemours ~ Company. For the year
lels, S.OO6 shares OF debenture stock Of
l.. /. du Pont dc Nemours & Company
and siOsO shares of the common stock of
J.. J. du Pont de Nemours & Company
'cost value S3.162,49372l have been
awarded for distribution as r bonus Ia
S,5zO employees by the Executive and
FINANCE Committee and finally approved
by the Special Committee Of the Board
OF Directors. The total cost of these
securities for the four years, lQl5-lgIs,
has been Sl6,370,9l4ll The merits OF
the plan have been recognized bv the
officers and directors OF the company
and ITS predecessor for many wears,
Formerly the directors themselves
owned majority of the common stock
and, throughout, other stockholders
nave been informed as to the operations
/ ot The plan, therefore it has not been
thought necessary TO ask for specific
action to approved bonus granted at the
annual meetings However to the sur
/ prise OF many directors, law suit has
been brought by small number of
/ stockholders attacking the validity Of
the bonus plan. This action was the
more surprising because the suit was
not brought until these stockholders had
been enriched, without effort on their
part, by dividends almost equal TO the
total bonus paid out 10 the workers
during the first two years of the war
period. lt is to be- noted also that the
leading stockholders in the suit have
participated, both as officers and dircc-
tors OF the company, in the establishing
of the bonus plan and in its admnistra-
tion.
On account of this law suit specific
ratification and approval of the bonus
plan and the administration thereof WAS
asked at the last stockholders meeting.
OF the total shares represented hv per
son or proxy 4l4.263 were recorded in
favor of such ratification and none
against, a favorable vote of 1906.
tSeventy per cent. of the voting stock
Was represented at this meeting.l At
the coming annual meeting the stock
holders will be asked TO ratify and APP
prove the administration of the bonus
plan during the wear 1918 and IFS con-
tinuation in the future
Since the beginning of the war the Off
GERS of the company have been active in
preparation for peaceful pursuits and. a.
opportunity has offered, many new pro
jeets have been investigated in order TO
supplement the former commercial tusi-
ness of i. T. du Pont dc Nemours Pow
der Company. Over one hundred differ
ent subjects have been under scrutiny
and many are still followed actively.
The principal investments already made
are:
First.-The manufacture of Py-ra-ln.
the chemical relation of which TO MILL
taTy powders is such as to make il
very desirable addition to the list of our
products. Entry into this business was
through the purchase of the Arlington
Company, already successful manu-
facturer of many years standing The
business has expanded TO approximately
double its output when taken over ina
1918 and under peace conditions has
great promise of further development.
Sccond.-The manufacture of paints,
varnishes and colors. The relation of
this industry to explosives lies in COM
mon interest in the production of Ger
tain so-called heavy chemicals" while
a more intimate tie exists between the
paint and color industry and the so
called chemical mixture business in
which the Du Pont Company has been
engaged for many years. The manufar-
turc OF colors has also a close relation
10 the production of dyes. Our entry
into the paint and color industry has
been through the purchase of the fol
lowing interests
Harrison Brothers & Company, Inc.
concern ITell knewn and of long stand
ing, for a period deven longer than the
life Of the Du Pont interests.
Cawley Clark & Company.
BecktOn Chemical Company.
Bridgeport Wood Finishing Company
Flint Varuish and Color Works.
New England Oil, Paint and Varnish
Company.
These purchases have given import
,nce TO this line of business and have
established a working trade at the out
set. The acquisition is further attrsc-
i've in the great field opened for the
use OF by-products and inter-
.hange Of facilities.
Third.-Dve manufacture. The chemi-
al composition Of many dyes being sim
lar in nature to that of number of
modern explosives, makes study and de-
'elopment OF the dye industry an ap
,ropriate adjunct TO the main business
f L. J. du Pont dc Nemours & Com
ANY The industry being comparatively
lew in this country, il was decided tu
btan rights TO patents and processes,
tartng in the industry without. nut
leus of existing business and contrary
o the plan followed in other cases. IL
ras originally thought that a part OF
he apparatus for the installation of tho
We industry could bc diverted from the
of explosives at the term-
alton of the war. but continuation ot
oltilities has negatiVed this eXpecta-
on. The company is already producing
ldigo in large quantity and is produc
no fair amounts of many other dyes,
Ii of satisfactory quality. The busI-
ess is complex but of great interest and
romisc.
Fourth.-AIanufactur of motors. The
,terest of certain officers of the COM
any in the motor field was engaged for
ANY months prior TO the making OF an
lvestmcnt by the company
While there is no immediate relation be
yeen the explosives industry and the
of motors, this investment
as made In such a way as TO give op-
ortunitv for our financial organization
, be of service and at the same time
Icrease greatly our financial strength
he large engineering and construction
,rces of our company, the develop
ent. legal and accounting department
cilities, coupled with the demands of
Ie motor industry for talent of that
md. has furnished connecting Iink