America 1919-Chapter 937 - 320, DuPont who takes the initiative to visit

Everything was proceeding in an orderly manner, and by the time December arrived, the U.S. presidential election was officially over, with Coolidge unsurprisingly becoming the President of the United States.

Donnie personally went to Washington to express his congratulations to Coolidge.

After Donnie returned to Atlantic City and spent a pleasant Christmas with his family.

The world welcomed 1924, and Atlantic City welcomed a new guest.

Irene DuPont of the DuPont Family.

Irene DuPont is the brother of Pierre DuPont.

As everyone knows, the core business of the DuPont Family is gunpowder, but in fact, after World War I, the DuPont Family had begun to consider transforming their family business.

So Pierre DuPont invaded General Motors, becoming the president of General Motors, while Irene DuPont took over the family’s gunpowder business.

Any company in the United States ultimately hopes to enter Wall Street and transform their family into a financial family.

Rockefeller did so, and the DuPont family is no different.

Rockefeller wished to achieve his goal by acquiring and holding some banks, but the DuPonts, having a closer relationship with Morgan, abandoned such a development plan and chose instead to invest in more companies.

For example, a branch of the DuPont Family began investing in the aviation field, while another branch started investing in Florida, and at this time, the branch investing in Florida had already become a major investor in Florida!

However, this branch and Pierre DuPont’s branch had some family disputes, so the two families currently were not on speaking terms, but later as the Florida branch encountered issues, they eventually chose to bow to Pierre DuPont’s branch, and Pierre DuPont graciously accepted their apology.

Moreover, the most important investment for the DuPont Family was actually in the field of chemistry, and this investment was handled by Irene DuPont.

For instance, in 1920, DuPont Corporation, together with the Synthetic Textile Company, established the DuPont Fiber Silk Company, with DuPont Corporation investing 60% and purchasing the patent rights for this product in North America, and this factory was the first artificial silk production factory in the United States.

Initially, the DuPont Family didn’t pay much attention to this investment because clothing made of synthetic silk lacked softness and elasticity, but these shortcomings didn’t matter given the low price of synthetic silk.

Once synthetic silk was introduced, it immediately gained popularity, and seeing this situation, the DuPont Family did not hesitate and immediately bought all the shares and patent rights from the Synthetic Textile Company.

Subsequently, the DuPont Family began to increase production, and to meet market demand, they even established three super factories, with the largest factory valued at 46 million US Dollars, employing 6,400 workers!

By 1937, the National Resources Committee of the United States had listed telephones, automobiles, airplanes, movies, radio, and synthetic silk as the six major achievements of the 20th century!

It was exactly due to the success in synthetic silk that made the DuPont Family put more emphasis on investment in the field of chemistry.

They soon discovered the product glassine, and like with synthetic silk, DuPont Corporation began collaborating with Cotyval Fiber Company, which invented glassine, to jointly build a glassine production plant.

After construction was completed, DuPont Corporation bought all the property rights.

This product had higher technical requirements than synthetic silk, and DuPont Corporation conducted over two thousand experiments to achieve satisfactory results.

After the product was launched, it was very well received, and to produce glassine, DuPont Corporation established seven factories in succession; although this investment was enormous, it could bring a profit of 5 million US Dollars annually for the DuPont Family.

Subsequently, DuPont Corporation partnered with France’s Pathe Trading Company to set up DuPont Film Manufacturing Company, and similarly, after obtaining all the technology and achieving success in the market, DuPont Corporation acquired all of Pathe Trading Company’s assets in the United States.

It can be said that DuPont Corporation has now surpassed all chemical companies in the United States in the field of chemistry.

The fact that Irene DuPont, who is now in charge of this business, came by surprised Donnie, as his business had nothing to do with the field of chemistry?

Nevertheless, Donnie warmly entertained Irene DuPont!

After some pleasantries between the two, Irene DuPont stated the purpose of her visit.

"Mr. Block, we at DuPont want to purchase all the patent rights of your company’s ethylene acetylene, and we hope Mr. Block can let it go. Furthermore, we at DuPont will certainly offer Mr. Block a satisfactory price!"

Donnie was a bit confused upon hearing this, ethylene acetylene? Donnie didn’t recall purchasing a patent for this thing?

"Mr. DuPont, please wait a moment, I am not very familiar with this matter, let me call my assistant to inquire about it!"

Donnie called Bobby Moselle to ask about the particulars.

Irene DuPont looked at Donnie, bewildered at his unawareness of the matter, feeling quite sentimental internally, for after analysis by DuPont Corporation’s internal researchers, ethylene acetylene was expected to change the future rubber market—and yet Donnie didn’t know?

Bobby Moselle thought briefly and then answered Donnie’s question.