Every evening, Wilmington daily commercial., 1921-06-08
HERCULES POWDER
COMPANY ACQUIRES
ALL AETNA HOLDINGS
continued from paRe I.

Continued from page l.
with the existing management. judy
ed by the usual experience at corr
norate elections, amounts to contip,
by a substantial majority.
How Hercules Develops.
BY this purchase the Hercules Co.
will acquire high explosives, or dyna~
mite plants near birmingham. Ala.
Emporium, Pa. Sinnamahoning, Pa
Ishpeming. Mich. and Fayville. ILL.,
two black blasting powder plants. ono
at Goes Station, Ohio. and the other
near birmingham, Ala, n plant for tho
manufacture of blasting caps and
electric blasting caps at Port EVEN,
N. Y. and plant for the manufacture
of illuminate of mercury, for use In
blasting caps, at Prescott, Ontario,
Canada. The explosives industry diff
fers from most others In that Il In
limited geographically in making sales
because of freight rates. 1t is only pos
sihle To ship such commodities limit
ed distance from the place OF manu-
facture before a point Is reached at
which transportation costs make IL
impossible to compete with other com
panies having plants nearer the par
ticular consuming center.
The principal Significance of this
transaction 10 the Hercules Co. Is that
It will in the future, because of the
location OF the Aetna plants. bc able
to enter territories i'm which Il has
found it unprofitablo to sell.
1t will thereby be able to compete all
tho attranggFs,Itxs
plosives manufacturers
Opinion of the Court.
In the unanimous decision of the
court on the petition referred 10 above.
Judge Wolley states I'm part "A care
fui review of the explosives industry
set forth by the petitioner in elaborate
detail with reference to areas of con-
number and distribution of
producing plants. and competitive con
ditions, the accuracy of which is in no
challenged. has convinced us
that in permitting the Hercules Pow
dor Co. to acquire the several proper
ties of the Aetna Explosives Co, actual
In the industry within
their respective regions will remain
though the number of
competitors will, OF course. be reduced
by the withdrawal of one. Indeed. ii Is
represented that competi-
ton will he increased by thus
the Hercules Powder Co
in its contest for business against the
iu Pont Co, its strongest rival How
ever that may be. we arc satisfied,
after careful study of great volume
data Gathered fyfAFt r4fh FS,4l
sources, a recital of which in this
opinion is quite impracticablc, that the
proposed purchase of the Aetna prop
arties by the Hercules Powder Co. will
not disturb the position in the in
iustry which the court has made for |
he Hercules Powder Co: that il win |
not abridge the purpose for which the
court employs that company in main
tanning the separation Of the offend
ing members Of the combination pre-
viously existing and that ii will not
throw out of balance the competitive
conditions in the industry which the
court sought and which evidently il
has achieved by the instrumentalities
of the Hercules Powder Co.
To Concentrate Here.
with the Aetna Cos. business. the
Hercules Powder Co. becomes a much
larger factor in the explosives bust
ness OF the United States" said j. IT.
Skelly vice-presidcnt OF the Hercules
90. The company is now in a posi-
ton to compete for business in all
parts of the United States. and viii be