Before the U.S. District Court in Chicago last week, Du Pont answered the Government's proposed plan to eliminate Du Font's control of General Motors. Du-Pont flatly said that it would fight the Government's proposal requiring it to distribute two-thirds of its 63 million G.M. shares to its stockholders over a period of ten years, sell the remaining one-third on the open market (TIME, Nov. 4). Said Du Pont: "A harsh, unreasonable and wholly unnecessary penalty."
Instead, the company offered to hand over all voting rights on Du Pont-held G.M. stock to its 185,000 stockholders on a pro rata basis. The family-controlled Christiana...
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