Word: christianae
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...Fonts mention any Du Pont-G.M.-Rubber agreement, but he did add a footnote on his personal history. In 1926, on his marriage to Irénée's daughter Margaretta, Irénée had presented Greenewalt with 1,000 shares of stock in Christiana Securities Co., the holding company that controls Du Pont. The stock was then worth about $1,000,000 (current value: $6,500,000). But that, said Greenewalt, was a Du Pont gesture "to give an employee incentive, just like any other bonus...
...wife was permanently injured in a blast that killed 36 workmen in 1818; Lammot du Pont, father of the brothers Pierre, Lammot and Irénée, was mortally injured in 1884 while trying to "quench" some fuming nitroglycerin to avert a disaster. *Christiana, which still holds 27% of Du Pont stock, paid $200 a share for Coleman du Pont's stock. Each share of Du Pont common has since risen to a market value (counting splits) of $11,779 and has paid a total of $5,958.91 in dividends...
...Christiana Securities Co., the Du Fonts' family holding company, which owns more than 27% of Du Font's common stock, paid a year-end dividend of $174.25, bringing the total for the year to $407.25 v. $258.60 in 1949. Price of Christiana stock: $5,400 a share...
Despite its size, the Du Pont chain of command which Tom Clark wanted to dismember was simple. The Du Pont family controls the Christiana Securities Co. (TIME, Feb. 21), a holding company in which anyone can buy stock (current bid price: $3,050 a share). Christiana Securities Co., plus other holdings of the Du Pont family, control E.I. du Pont de Nemours & Co. In turn, Du Pont controls General Motors Corp. through its 10 million shares of G.M. stock. Du Pont and G.M. together own Kinetic Chemicals, Inc., a maker of refrigerants; G.M. and Standard Oil Co. (N.J.) own Ethyl...
...Christiana is the highest-priced stock on the market. It was quoted last week, over the counter, at $3,005 bid, $3,055 asked. Even at that price, it seemed to be a bargain. By buying a share of Christiana, an investor would indirectly own 19½ shares of Du Pont stock, almost three shares more than if he had spent the same amount of cash to buy Du Pont stock...