The Bismarck tribune., 1934-09-13
SALES COOPERATION
With english firm
REVEALED BY PROBE
Corporation Was Able to PLAY
Cash Dividends Of 100
Per Cent in 1916
FOUR OF FAMILY TESTIFY
Taxable income Jumped From
$4,642,534 to $127,574,.
725 in Three Years

Washington, Sept. 13.-R-Eu-
dence the e. I. du Pont de Nemours
company and Imperial Chemical In
dustries, Ltd, Of England, in 1882 en-
tered into an agreement for "sales
cooperation" for disposal Of their
products in Europe, Asia and South
America, was presented Thursday to
the senate munitions committee.
The committee also learned Gen.
eral Douglas Macarthur, as acting
secretary Of war, had advised the du
Pont company nothing in its files re-
ferring to secret military plans Of the
United States was to be made public
in connection with the senate hear
ing.
A communicated stamped confid-
entail referred to the fact that "a
large production" Of war materials
was to be assigned the du Pont
company.
with four members Of the du Pont
family present, the committee set
out to draw q picture Of how q large
part Of the profits was invested by the
firm in other American industries,
and OF their ramifications in recent
years.
A financial statement showing the
du Pont corporation now owns about
$27O, ,O00, 900 In capital stocks Of about
20 other corporations in the United
States and abroad was presented as
A.. nn~.,..S<%n> kvonAA {$e f&s,o vanaoH Ase
pansion since the war.
Millions Paid IN Bonuses
The committee also learned that
$1,000, 900 in bonuses was paid off,
GERS and employees Of the E. I. du Pont
de Nemours corporation between 1914
and 1919.
During that period the corporation
filled 81 ,245 000, 900 Of World War or
ders. The largest bonuses were paid
in 1916, the year before the United
States entered the war. That year
bonuses totaled $6,514,0o0.
The testimony was given principally
by Pierre du Pont, chairman Of the
board. Three other members Of the
family, Irenee, Lammot and Felix,
sat listening.
Chairman Nye, seeking to develop
what percentage Of other companies
the corporation had acquired. read =
list Of concerns In which the du Pont
firm had an interest Of 100000 or
more. The list included:
The Remington Arms Company.
the Peters Cartridge Company, the
German I. q. Company, South Amer
ican Explosives, French Duco COM
pany, German Duco Company, the
Bakelite Company, the du Pont Film
Company, the du Pont Rayon Com
pany. the du Pont Celophane Com
pany, the Perth Amboy Chemical
Works, the italian Celluloid Com
pany, the National Ammonia Com
pany.
Own ~ Per Cent General Motors
Describing the company's holdings,
du Pont said its interest In General
Motors had increased in value from
an original investment Of 940,O00,O00
to $l54.00o,000.
The corporation owns 100000
shares Of General Motors common
stock, which 1t carries on its books at
. value Of slightly more than SIS per
share contrasted with the present
market value Of approximately $40 per
share. This Is about p per cent Of
outstanding Genera. Motors stock.
Attention also was given personal
finances Of the four leading members
Of the firm-Lammot du Pont, pres.
ident: Pierre, chairman Of the board:
1renee, vice president and Felix, cou-
sin Of these three brothers who also
Is q vice president.