Every evening, Wilmington daily commercial., 1920-02-19
BIG STRUGGLE ON
Con tinusti from pass l

others could be given. Now there are
| more than evidences that tho du Pont
group II running = course which doea
not meet the views Of the Older in
tercsts, the more 40 ~ 1T has more OF
less closely allied with itself 1t least two
Of the biggest financial Institutions in
New York.
Common report is that within the
last few days measures were taken
intended to force curtnilment Of
activities in certain directions. They
were applied, rs understood, during
those daw last week when. the stock
market WIS much demoralizcd.
while it cannot be confirmcd--stch
happenings Arc not until safe time
sfterward, in the usual habit Of We'll
street---rcport has it that certain very
large pool holdings Of Baldwin Loco
motive Works common were taken
lover by bankers close to those who
have been dominant in the affairs OF
that important industrial concern, and
that certain other tOo-extcnded spec
ulativc operations were closed out under
considerable pressure, which, extended
also to certain other stocks which were
collateral for loans, caused Iate-after-
noon substitution Of Some $40, ,0O0, 900 in
Liberty bonds, said to have been sent
posthaste from Wilmington after the
telephone had related some conditions.
INVOLVES MOTORS FINANCING.
From what il learned today, and the
information comes from pretty high
up in the counsels of the big camp,
the du Pont group, in this particular
case represented by w. G. Durant, is
To be obliged to make what are re-
svnv.lcJ m ,,ronc~ <.r,,o 10, a,pprct ,rs,
with and precedent to n big financing
of the General Motors Corporation.
That great concern has been making
rapid progress, expanding its opera
tions greatly, not only in building au-
tomobiles and motortr,icks. but III man.
ufacture of the chief accessories and
supplies. This has meant tremendous
capital investment, which 20 far those
conducting the business have been snc-
cessful IN providing.
"But as il happens, doubtless partly
owing TO the prevailing general condi-
tinns, the latest undertaken financing.
which proposed sale To holders OF the
present preferred and debenture stocks
of new z per cent debenture stock un-
der plan which contemplated raising
in such way about s85 10000 new cash,
failed to result Ms expected II is stated
that only some s12,OOo,0 900 was realized
under the offer which was made to the
shareholders last month, and that to
cover its commitments the General
Motors Corporation must have $50
OO0,0 or s3S, 900, 900 more than ii has
obtained from the recent financial plan.
at is frankly admitted that the Cen
eral Motors Corporation is a wonder
fully good proposition, notvlthstand-
ing that the market price Of its COM
mon stock ranged today between 23l
and DAB, TO compare with the high price
of 406l2 last November. So good is it
and the prospects SO bright that the
chief owning interests are disposed To
keep all for themselves. They are ready
10 finance and pay well for the capital,
bat they are very much averse TO yield
ing anything from their valuable equities.
wall Street anticipates that sooner
or later there will be an agreement,
and expects that when il Is reached
the du Pont group and it's associates
in the General Motors Corporation
will have made terms acceptable TO
the Rockefellcr-Morgan interests allied
with the First National Bank and the
National City Bank, with j. p. Morgan
& Co, probably acting rs fiscal agents
for the big motor corporation"