Word: ponts
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...handful of the 36 men who run the $858,000,000 industrial empire of E. I. du Pont de Nemours & Co., last week's gathering in the Wilmington, Del. board room was just another directors' meeting. Their 138-year-old firm had had a good year: 1939 net $93,219,000, an all-time high. Declaration of a quarterly dividend, other routine matters, were quickly dispatched. A secretary rose and began reading from some slips of paper...
Unexpected was the first slip's message: aging (70), sentimental Pierre Samuel du Pont, who was seated at the head of the long, oval, mahogany table, had resigned as chairman of the board. Granddaddy of the Du Pont clan, he had been with the company for almost 50 years, starting as a chemist, moving from the presidency to the chairmanship in 1919. He was ready to retire to his enormous hothouses at Longwood Gardens, where he plucks orchids and figs, to sit in the evening on his broad plaza and watch his $500,000 fountain swish and spurt...
Startling too was the secretary's next slip announcing the resignation of Brother Irénée, vice chairman. Seventh Du Pont to have the job, he had taken over the presidency from Brother Pierre, had been vice chairman since...
...where retirement is . . . incidental to desire for relief from responsibilities. . . ." But Lammot did not leave the company. He was quietly elected chairman of the board. Then the directors turned to a slender, broad-domed, greying man beside him: Walter Samuel Carpenter Jr., 52, long known as the Du Pont crown prince. He was elected president-the first non-Du Pont to head the company in nearly a century. Unlike his elder brother,* Walter Carpenter is not even a Du Pont-in-law. Quitting Cornell in his senior year to take a Du Pont job in Chile, he loped...
Welcome as this was to unlicensed manufacturers, they knew that their chances of getting much of the synthetic yarn were slim. For the big Du Pont plant at Seaford, Del. can turn out in the next twelve months only enough yarn for about 5,000,000 dozen pairs of nylon stockings-10% of the annual women's silk hose demand. A second plant, now building, will not swing into full production for a year. Discouraging, too, to hosiery makers was the possibility of nylon's becoming a war material. Last week the U. S. Army was testing...