Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-03-07

30. Dut by reason or advances from tho
United statcs held by this company.
and credits due the United States on
purchase of materials In claims, the
net cash received from the thirty-four
claims was 31,1a1,274.36.
The ten claims outstanding Deccm-
Der 81. 1921, aggregate 3l.064. 2bS.<7.
but OF this amount 3169,009.06 has
been collected. and after deduction of
credits duo the United States for pur-
chase OF materials in these claims.
there remains due your company
1853. 1880.
Operating Rcorgnnization--As n re-
suit OF thorough study Of the highly
centralized form OF operating orRani-
zation OF tho du Pont Co., your d.
rectors decided In the past year to
segregate Its five principal industries.
explosives. cellulose products. pyra-
lin, paint and dycstuffs. placing each
In charge OF general manager,
maintaining for the common use OF
all. certain specialized functions. such
as purchasing. engineering, account
ing, etc. This change was put into
effect In October, so that sufficient time
has not elapsed for the expected ef-
fects to be fully realized However,
II seems very clear that important ad-
vantages have been gained.
This change has necessitated draw
ing from the executive and finance
committees OF the company such In
dividuals as were pre- eminently fitted
TO act as general managers OF certain
OF the departments and who, mani
testify, could not. In their new posi-
lions, spare the time required for
duties on either committee.
Bonus Plan-Earnings from the
manufacturing undertakings ddrins
the year 1921 We're less than the mini.
mum amount specified In your com.
pany's bonus plan, and consequently
no stock was awarded employees. This
In the first year since the adoption OF
the plan that this has been the case.
The reduction In volume OF YOU
company's business has required tn,
dismissal OF n large number OF en-
ployes who In the past have beer
awarded bonuses. Acting in accord
ance with its special powers In such
matters. the executive committee pass
ed on ZACH case and where the bonus
benC. had been laid OFF for lacl
OF ", n satisfactory record an,
was v 80 of such consideration. n,
was not deprived Of his interest fl
the bonuses previously awarded {,
him.. -Four hundred and thirty-si,
employees were thus favorably treate,
during the year 1921.
) Stock Subscription Plan--Notice ha
been sent To the employees that tn
stock subscription plan would be con
: tinued for the year 1922 without ohanW
= from last year. In response. the EN-
; ployes have subscribed TO $50 share
! Of debenture stock hereunder.
A participating payment OF one pc
; cent extra WAS made TO tho ''partici
: pants" for the year 1921. on accoun
!, OF earnings for the year 1920.
! Pension Plan-Your company Ia
I continued its pension plan by whic
: employees who have become incapaci
taied after fifteen years or more {
: faithful service are granted com
pensation in an amount varying wit
the length OF their service and rat
. of their previous wages. All pension
paid during the year 1921 have bee
taken up in cost of operations, leay
ms the capital amount OF the reserv
set up for pensions the same as It wa
on January !. 1921.
Following is the complete divider
record OF your company and It's pr,
decessor-E. /. du Pont de Nemoul
; Powder Co. &c
? Z. L. du Point De Nemours PovA