The new ADDUSERS.EXE from Supplement 4 has a command line switch that supports this functionality. Here is the new syntax:

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addusers \[\\computername\] \{/c \[/p:\{l | c | e | d\}\] | /d | /e\} filename \[/s:x\] \[/?\]

Where:

\\computername
  is the computer on which you want to create user accounts
  or from which you want to write user accounts. if you
  do not specify a computer name, addusers will use the
  local computer by default.

/c
  creates user accounts, local groups, and global groups
  as specified by filename.

/p:
  followed by l, c, e, or d, or any combination of
  the four, sets the following account-creation
  options (must be used in conjuction with /c):

l
  users do not have to change passwords at next logon.

c
  users cannot change passwords.

e
  passwords never expire (implies l option).

d
  accounts are disabled.
  if you do not specify this option, all accounts will
  be created with the usermgr.exe defaults.

/d
  dumps (writes) user accounts, local groups, and global
  groups to filename. Mote that choosing to dump current
  user accounts does not save the account's passwords
  or any security information for the accounts. To back up
  security information for accounts, a tape backup should
  be used. Also, note that since password information is
  not saved in a user account dump, using the same file
  to create accounts will cause all passwords of newly
  created accounts to be empty. All created users will
  be required to change their password at logon by default,
  unless you add password to the file.

/e
  deletes user accounts as specified by filename.
  Caution Be careful when erasing user accounts, as it
  is not possible to recreate the user account with the
  same SID. This option, however, cannot erase built-in
  default accounts. Also, be aware that when a local or
  global group is included in the text file, the /e
  switch does not just remove the user from the group,
  but also eliminates the entire group.

filename
  is the comma-delimited input/output file that
  addusers will use for data.

/s:x
  changes the character used for separating fields
  in the file. The x should be replaced with the new
  character to be used for separating fields.
  For example, /s:~ would make the "~" (tilde) the
  field-separation character. If this option is not specified,
  the default separator, a comma (","), is used.
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