WAR WEALTH

Northern Advocate, 15 September 1934, Page 9

WAR WEALTH

COLOSSAL GAINS DUPONT CORPORATION TERRITORIAL COMPACT. SERVING THE ALLIES. (United Press Association—By Electric Telegraph.—Copyright.) WASHINGTON, September 13. The wide ramifications and huge growth of the assets of the Dupont Corporation during the Great War were disclosed today at the sitting of the Munitions Investigation Committee of the Senate,

The firm’s resources grew from 81,000,000 dollars in 1910 to 258,000,000 dollars in 1915 and 308,000,000 in 1918. A total of 17,000,000 dollars in war bonuses was paid to officei's of the corporation, the wealth of which grew to such an extent that an outlet in other industries had to be found.

The result is that the corporation has investments totalling 202.000,000 dollars throughout the world, including interests in many other companies which deal in explosives. Evidence also was given that an agreement existed between the Dupont Corporation and Imperial Chemical Industries, Ltd., which gave the American concern the exclusive right to sales of gunpowder in Europe and South America, while the British firm reserved Asia as its territory. The chairman of the board, Mr Pierre Dupont, in commenting on the corporation’s profits during the war said: “I think it would be very unbecoming to create the impression that our profits werfe wrung out of the Allies, or that they were at our mercy. They came to us because we could serve them and no one else could. “We made powder for 60 different guns, and not one pound of it failed the Allies, who were glad to pay us what they did.” 1