The Federal Reporter with Key-Number Annotations, Volume 256: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, May-July, 1919. Page: 163
xiv, 992 p. ; 23 cm.View a full description of this legislative document.
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DU PONT V. DU PONT
neys have told them their company cannot l]on the money to tile direet6rs.
Technically, this may be correct; but I do not think they should hesitate to
put the thing through, nor do I think they will. The Atlas people, acting un-
der -the same laws (of Delaware), have accepted the proposition and I under-
stand from Lou I)unham today have taken over the stock. Undoubtedly' the
Hercules will come to the same conclusion."
We here note that this was the letter which Pierre did not turn over
to Alfred in compliance with his request on February 10th, and,which
Pierre says he did not then give him, because he regarded it as a person-
al one. It is quite evident the letter, while it did report the reception of
Coleman's offer and to that extent was a business letter, was one which
Pierre rightly.termed personal, and one which he naturally would not
care to hand over to Alfred on account of the terms he used in report-
ing that Alfred had changed his attitude toward the offer. We are re-
ferred to nothing in the letter which would have in any way affected
anything which Alfred wrote Coleman in his letter of February 16th
quoted above, and a reading of this personal letter would certainly not
have been conducive to the spirit of good will which, the welfare of the
company demanded should exist between its officials. The letter con-
tains nothing pertinent to the case which in any aspect Pierre had any
interest in concealing, and it is quite evident that in any aspect the
withholding of it from Alfred was a matter of judgment, and not of
violation of duty. On the other hand, and as evidencing the then state
of mind of Pierre toward Coleman's offer, it is significant that, although
Pierre regarded the offer as not accepted, it is quite evident that his ef-
fort was to keep Coleman from being rebuffed, and induce Coleman to
carry the offer along. He tells him his Hercules plan was accepted in
good spirit, that he thinks it will go through, and that his Atlas plan was
accepted. And his suggestion "I think it wise to let the matter rest for
the moment, preferably until I can see you, before taking any other
step," was certainly along the line of encouraging Coleman to go
ahead with this plan.
On receipt of Pierre's letter, Coleman did not withdraw his offer,
but left it still open, writing Pierre on January 6, 1915:
"Perhaps it would be well for me to withdraw the proposition; if you think
so, do it."
If Pierre had any ulterior purpose, here was his opportunity to
withdraw the offer, for Coleman authorized him to do so. But the let-
ter of Pierre to Coleman in reply, January 9, 1915, shows Pierre urging
Coleman to follow up his offer. We quote what Pierre wrote:
"I feel you must be much disappointed in the question of the stock sub.
scription. I used my best judgment in not trying to force the situation. Pos.
sibly I could have put it through by iisi4sting, but at great risk of having the
other side pitted against me; that might have complicated the whole plan' for
good and all. As it remains now, I feel that the proposition' is open for re-
4conideratton at your option, of course. Willie is away at present, but will
be back in a couple of weeks, at i hich tume I wtll take usp the swork again,
unless I have word from you to the contrary. My judgment is thpt the deal
tomli go through tlts timee"
ThatPierre's letter had the effect of encouraging Coleman rto a'llow
his offer to stand is shown by Coleman's reply, Jandary l1iht,'163
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The Federal Reporter with Key-Number Annotations, Volume 256: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, May-July, 1919., legislative document, 1919; Saint Paul, Minnesota. (https://digital.library.unt.edu/ark:/67531/metadc38827/m1/177/: accessed March 28, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.