Evening journal., 1922-05-24
TOLIST DUPONT
ONN. !. change
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quantities of explosives; material for
road building and other activities
are prepared with the aid of explo-
sives; land is cleared, trees are plant
ed and much farm cultivation is car
ried on with the output OF the pow
der factories. The uses To which
explosives are put are increasing
constantly and increasingly large
quantities are being produced.
Powder For Commercial Use
During all the wars in which the
country has been engaged, the du-
Pont works were the chief sources
Of supply for powder and during the
recent World War, forty per cent OF
all the explosives used by the United
States and the Allies was supplied
from its plants. But the company's
business development has been due
to the commercial uses OF explosives
rather than to their use in war. AS
a matter OF fact during the company's
entire history, this country has been
engaged in war less than ten years
and the national demand for COM
mercial explosives has increased
each year since 1902 except when
business was interrupted by warfare.
The dupont Company was man
aged as a partnership for one hun
dred years until in 1903. a group of
the younger generation OF the fam
lily took over the business and
formed a corporation with an auth
orized capital of S50.00O,000.
The manufacture OF explosives
moved along new lines and within
the next few years became a chem |
ical industry OF the highest i'm
portance. This line of progress nat
urally led the company into many
allied activities. II was only a step !
powders into the manufacture of
leather substitutes, pyralin and arti-
icial silk. The chemical develop
nent naturally led into other allied
ines such as the manufacture of
iyestuffs. paints and varnishes. acids
md heavy commercial chemicals.
In 1915 the demands made on the
company by the Allies engaged in
he World War necessitated a flnan- (
'ial reorganization and the present
was then organized with
IN authorized capital OF S240. .000.-
100. About half of this was issued
nd was held by 1927 stockholders,
627 of whom held debenture stock
nd 2020. the common stock.
'hange i'm Financial Status
Since that time. the company's
nancial status has undergone !
light change. The only important
dditional financing II has done was !
o issue sS5 100000 in bonds TO I
nance a large purchase OF General {
fotors common stock. The dupont I
company owns S6.95 per cent or !
,62S.137 shares OF the common ]
took of General Motors Corpora I
ion. representing an asset value, at /
resent market quotations, of over ]
900. The dupont holdings
4 General Motors stock are equiv !
lent TO 12 shares OF General Motors
with market value of about s175)
or each share OF DUPONT Common /
There is outstanding I'm addition 10
he bond issue. S1,73S.750 OF voting
ebenture stock. s69,521.250 OF nom
oting debenture stock and 6S,
as, 800 OF common stock. all OF a 5
ar value OF 500.
Since Incorporation in 1915 has Z
aid dividends on the Common stock Il
ithout interruption. averaging a
$50 per cent per share annually
cash securities The present n
vidend rate Is per cent =
According to the balance sheet of c.
ecember 81, 1921, net assets On- o
uding goodwill, etc.) applicable n
Common stock. amounted to s204 :
II share. %Reckoning securities 4
vned at market value instead of
st, these assets would be S243 per
are. Company's surplus. De-
mber 81, 1921. was s66.OS0,659.
lsh in bank, March 81, 1922, was
S,5OO,000 a