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...Rocks. Far from restraining G.M., Du Pont was one good reason why G.M. grew; without the stock purchase there would quite likely have been...
...first few hours after the U.S. Supreme Court laid down the antitrust law to Du Pont last week (see NATIONAL AFFAIRS), Wall Street reacted with anticipation. Du Pont stock shot up 6 points to 202½ in the hope of big stock dividends following the court's ruling that Du Pont interests must give up their 23% control (64 million shares) of General Motors stock, worth $2.7 billion. But when Wall Street took a more careful look, Du Pont stock slipped back down. Both Du Pont and G.M. stock fluctuated nervously for the rest of the week, as everyone...
...Tire & Rubber Co.; Gulf Oil has a 12% interest in Texas Gulf Sulphur, which supplies Gulf with sulphur; Olin Mathieson Chemical has 25.8% of Marquardt Aircraft and 50% of rocketmaker Reaction Motors, for which it is helping develop rocket fuel. And by successfully going back 30 years to trip Du Pont, trustbusters had won the right to try any company for things it did in long years past...
...businessman seriously believes that Du Pont bought into General Motors merely to wrap up a market for paint. Although the Supreme Court ruled that by its working control of G.M., Du Pont had been able to force its products on the automaker (specifically that Du Pont had supplied General Motors with about 67% of its paint and finish supplies, between 38% and 52% of its textile requirements in the years 1946 and 1947), the two items together make up only about 2% (or $20) of an auto's total cost. Du Font's total G.M. business amounted...
General Motors in existence today. When Du Pont took control during the post-World War I depression, the young auto giant was headed for the rocks. Brilliant, mercurial William Crapo Durant, who put the company together, was $80 million in debt and on the verge of bankruptcy. Du Pont had already put $49 million into the company's stock. By risking another $31 million of its capital, Du Pont bailed out Durant and put the company back on course, not only with cash, but also with managerial talent. Du Pont President Pierre S. du Pont, who had been actively...