ARMS INQUIRY

Hawke's Bay Tribune, Volume XXIV, Issue 234, 15 September 1934, Page 7

ARMS INQUIRY

U.S. Company’s Astonishing

Growth

By Telegraph—Press Assn.—Copyright WASHINGTON, September 13. The wide ramifications and huge growth ot assets of the du Pont Company during the war was disclosed to-day in the arms inquiry. The company’s resources grew from 81,000,000 dollars in 1910 to 258,000,000 in 1915 and 308,000,000 in 1918. Seventeen million dollars in war bonuses were paid to officers of the company.

Tho firm's wealth grew to such an extent that an outlet in other industries had to be found, with the result that the company has investments of 202,000,000 dollars throughout the world, including many in other explosives companies. Evidence was also introduced that an agreement existed between the du Pont Company and Imperial Chemicals Industries, Ltd., which give the American concern exclusive rights for powder sales in Europe and South America, while the British firm reserved Asia as its territory.

The chairman of the board, Mr Pierre du Pont, commenting on war-time profits, said: “I think it is very unbecoming to create the impression that our profits wore wrung out. of the Allies, who were at our nercy. They came to us because wo could serve them, and no-one else could. IV o made powder for 60 different guns, and not one pound failed. The Allies were glad to pay us what they did.”