Word: ponts
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...came up. After the 1934 battle had been lost, Senator La Follette declared that the opposition was in the hands of J.P. Morgan. On continual guard against governmental power projects, private power companies realize the vast potentialities of the St. Lawrence. In 1921, Alcoa, General Electric, and Du Pont wanted to buy the rights for power development on the river from Ogdensburg, New York, to Montreal. They were willing to throw the navigation in for free, but were turned down. Although spokesmen for private power claim that the supply is adequate, New York and New England are paying rates that...
Chipped. E. I. du Pont de Nemours & Co. sweetened the market for a new 40,000-share common stock issue by announcing a record gross of $795,538,075 in 1947, a 20% increase over 1946. Net profits after taxes were $120,009,760, up 6%. Du Pont worried about "excessive construction costs" in its expansion program, set up a reserve that chipped $1.51 off share earnings, brought them to $9.88 per share...
There was more trouble when Du Pont and other competitors raised their rayon prices in December. Bazelon vetoed any price hike for North American and American Bemberg. He ordered them to continue selling at 10% below the general market price. The irate directors resigned in a body...
...biggest tycoon of the lot, E. I. du Pont de Nemours & Co.'s Walter S. Carpenter Jr., took time to write the longest letter, four single-spaced pages packed with some hard sense about salaries. What it came down to, Carpenter told Complainant Benson, was this: How much did the company profit on the high-priced executives-and how much were they worth in the going market? As for Du Pont executives, he wrote: "I believe competitors . . . would be willing to pay . . . as much. . . . I believe the company's interest is better served by paying that compensation than...
Taxes were so high, said Carpenter, that a raise in salary from $50,000 to $100,000 a year gives a man an actual increase of only $12,000, and leaves him a spendable total of $38,000. If the salaries of Du Pont's nine executive committeemen (the top management) were completely eliminated, said he, it would add only 9.3? per share to the company's earnings (some $113,000,000 in 1947). Carpenter then checked his present salary ($175,000) against what he earned 25 years ago ($78,570). He found that present taxes leave...