Every evening, Wilmington daily commercial., 1920-11-23
Du POINT INTERESTS
Continued from pA9s l

Negotiations for the acquisition n be-
tween ~ 300, 900 and q, ,OOO, 600 shares h cid
by Mr.. du Pont by the du Points wsrel
begun last Thursday, IL was said yester-
day, and werc completed yesterday morn
ing. II had been supposed for some days
that a large block Of the stock wns ovur-
hanging tho market, and the announce
ment served to allay nll market fears an
the stock promptly advanced, going from
IA 70 15L. On last Friday Il bad sold at
121, the lowest for the present year, M
compared with AZ, the years high, on
March 20.
The taking ovrr Of the Durnnt stock
does not mean the elimination of MK.
Dunnt NJ an active force in the Affairs
Of the company. He . said still to retain
"A large stock interest In the company
variously estimated at ~ much az ! 800,
600 shares According to information avail
able yesterday he will in all probability
continue for time being as president,
but may ultimately become chairman OF
the Board Of Directors.
Adding the 100000 or moro shares
which Mr.. du Pont will get M n result
Of this operation, TO his known former
holdings, will give total Of approx
mately 7,0OO,O 900 shares In his hands.
There are outstanding about 20,0O0,O0O
shares Of the common stock, 30 that MIR.
du Pont now will have ownership Of APP
proximately 3713 per cent OF the com
pany's common rhnres, The Morgan hold
ings have not been stated, but IL WAS said
yesterday that they held enough adj
ditional stock TO give to- the du Pont-
Morgan group more than 81 per sent of
the stock
TgApv OUTLOOK pRIsHTKR
The Morgans came into active identif-
cation with General Motors last June
when IL was announced that they had
agreed 20 underwrite 1,4l9,856 share. Of
3,21o,s56 shares Of new stock. OF this
amount, 100000 shares were to be taken
by British interests. The common stock
holders Of record June IL had the right to
subscribe 20 the stock underwritten by
Morgan & Co. at $40 n share IN the pro
portion Of one new share 20 each five shares
The company now has capital out
standing 20,o69,l95 shares Of common
stock of no par value, this including the
equivalent Of 800 par share which have
not been converted as yet. There is also
outstanding SIG, 10000 Of o per cent pre-
ferred, y25, $50, 800 per cent debenture
and $50 421 300 of per cent debeuture.
The company has no funded debt.
It's authorized capitalization cnnrists
of 50,0OO,OOO shares Of common stock Of
no par vnlue, s20, 100000 preferred, $500
oO0, 900 of 7 per cent debenture, and 800
GOO, 900 Of 9 per cent debenture stock.
II WAS estimated some time ago that
the company would do grozs business
Of 81 900, 000,ooo this year. The business
Of the corporation has, however. been
substantially otutailed during recent weeks
in view Of the falling off Of demand for
IL waa asserted Il few days
ago that the Cadillac plant Of the COM
pnny was the only one which had been un-
affected by the curtailrnent The deoreas-
ed value Of business is reported to be not
as large now as it was several weeks ago.
the Chevrolet Company, which has been
shut down for some time, having resumed
operations on a modified scale following
almost complete shut down. The other
plants. which were not affected 80 drasti-
callv as Chevrolet are also showing i'm
provement, according TO recent advicor.