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Show I Magnate vV 1 PIERRE S. DUPONT His tranaacMewa bring Inquiry. SEC LAUNCHES DU PONT PROBE WASHINGTON, Juna ( CTV The ecurltie commission announced oday it had atarted to Investigate wived in alleged "discrepancies" re-lorted re-lorted in transactions in Du Pont ommon stock by Pierre 8. Du Pont, h airman of ths company's board. Tha commission said these "dis-rt "dis-rt panel ea" had come to light In orrectlon of Du Pont common tock transactions submitted to the E C by Du Pont Ths commission' announcement aid: "The official summary of tranaao-lona tranaao-lona and holdings of officers, dirso-ors dirso-ors and principal company stock-loldera stock-loldera published todsy Includes orrectlon submitted by Pierre 8. u Pont, chairman of the board f E. L Du Pont da Nemours A- Co-f Co-f SO previous reports of his direct oldlngs In tha common stock of :at company sine November, 934." Tha commission said that, wfaara-a wfaara-a tha original reports showed aub-tantial aub-tantial net long positions, the Drrected reports showed that throughout tha period he owed iibstantially mora share than he wned." As of December 31, 1U4, he re-orted re-orted h held 13,252 sbarss, the ommlssion said. "His corrected report states thst 11 thst data he was minus 108,10 nares." Various reports filed In ths ln-rvening ln-rvening period showed be held lbstantial amounts, ths commis-on commis-on stated, "while corrected reports towed he was minus substantial nounts." Ths commission assarted further 1st the original report for Feb-lary Feb-lary 28, 1939, showed holdings of 1.394, whils the corrected amount as "minus 26,042." "In response to Inquiries ths com-ission com-ission statsd It has undertaken determine the facts and clrcura-ances clrcura-ances involved in these discrep-icies," discrep-icies," ths S E C announcement id. . WILMINGTON DeL, June 9 NS) Pltrre S. du Pont chairman tha board of E. 1 du Pont de emours company.' today charged 1 incorrect the securities and ex-lange ex-lange commission report that he as "short" about 25.000 shares of mmon stock of the company. In a prepared statement Du Pont id: "The securities and exchange com-Ission com-Ission at Washington hss released statement from which it may spur sp-ur that I am 'short' about 25.000 tare of the common stock of E. I. 1 Pont de Nemours A Co. How-er, How-er, mlns Is not a short account In e usual form made through a oker'a office, but results from and keeping with a long-term con-ct con-ct entered Into in December, 1919. "Throughout this period I have en a large bolder, either directly indirectly, of the common stock E. L du Pons ds Nemours A Co. lis was fully brought out in a cent hearing before the district urt of the United States for the strict of Delaware when that court und that while my direct holdings this Du Pont stock, as of De-mber De-mber 23, 1919, totaled 74 shares ily, my reversionary interest nounted to 24.000 shares and my Iditional Indirect holdings to 71.-5 71.-5 shares. "At present my direct holdings e almost 85.000 shares, and In Idition I have indirect holdings of er 140.000 shares; therefore, the ficial report doe not correctly set rth the extent of my interest as 1 Investor, In tha shares of com-on com-on stock of E. L du Pont de Ne-ours Ne-ours company." |