Jtnk I, 1907.) 



THE INDIA RUBBER WORLD 



281 



United States Rubber Co.'s Annual. 



THE fifteenth aiimial meeting ot shareholders ol the United 

 States Rubber Co., incorporated luider the laws of \ew 

 Jersey, was held at the registered offices of the company 

 in that state, at New Hrunswick, on May 21. The operations 

 of the company during the last business year and its condition 

 at the close of the year, arc indicated in the annual reports of 

 officers, as read and approved, and which arc presented here: 



PRESIDENT'S ANNUAL REPORT. 



To THE Stockholders of the United States Rubber Co.: 

 Your president has now served the company for the past six 

 years. A few comparisons between the condition of the com- 

 pany in 1901 and now will be of interest. 



The company was then paying no dividends upon any of its 

 stocks : it is now paying full dividends upon its preferred stocks. 

 The company's net sales for the previous year were $20,853,- 

 633-94; its net sales for the year ending March 3I, 1907, exclu- 

 sive of the Rubber Goods Manufacturing Co.. were $39,715,730.- 

 66. and with the sales of the latter company of $19,737,120.81, 

 were $59,452,851.47. The net profits of the company for the year 

 ending March 31, 1902, were $119,495.60, and for the year end- 

 ing March 31. 1907, were $4,590,382.72. with but $689,308.32 of 

 the Rubber Goods company's profits of $2,004,484.26 included. 



The surplus of the company, which was then nominal, is now 

 $6,126,706.44. 



The report of the treasurer which follows gives in detail the 

 result of the operations of the United States Rubber Co. and 

 its subsidiary companies for the last fiscal year, and their con- 

 dition at the close of the year. 



The volume of business and the net profits are the most satis- 

 factory of any year in the history of the company, and when 

 considered in connection with the operations of the Rubber Goods 

 Manufacturing Co. the showing is still further improved. 



The net profits of the Rubber Goods Manufacturing Co. for 

 the year 1905 were $1,358,485.29, while for the year 1906 the profits 

 were $2,004,484.26. Of this profit there is but $689,308.32 in- 

 cluded in the report of the treasurer of the United States Rub- 

 ber Co. appended hereto. The volume of business done by the 

 Rubber Goods company also increased $2,074,667.81 over the 

 previous year. 



The extensive manufacturing plants belonging to the company 

 have been maintained in the best condition, and many improve- 

 ments made during the year, the cost of which has been charged 

 to operating expenses. 



To accommodate the increased business of the company some 

 new construction has been found necessary, and at certain of 

 our factories new buildings are now in course of erection, 

 among which is a large wire insulating plant at the National 

 factory at Bristol, Rhode Island. 



The United States Rubber Co. and the Rubber Goods Manu- 

 facturing Co. have further united their operations in purchasing, 

 selling and manufacturing, to the great benefit of both com- 

 panies. The executive offices of the Rubber Goods company in 

 New York have been moved to the same building (No. 42 

 Broadway) as those of the United States Rubber Co., and be- 

 tween the officers and directors of the two companies the most 

 complete harmony and cooperation exist. 



Practically the whole of the common stock of tlic Rubber 

 Goods Manufacturing Co. has now been exchanged for the sec- 

 ond preferred stock of the United States Rubber Co. There is 

 about $3,000,000 of the preferred stock of the Rubber Goods com- 

 pany still unexchanged, as to which your directors have thought 

 it as well to take no action, at least for the present. 



Great advance has been made during the year in the develop- 

 ment of our facilities for providing through the General Rubber 



Co. for our very large consumption of crude rubber. In addi- 

 tion -to houses previously establislicd, we have added during 

 the year those of William Symington & Co., Limited, at Lon- 

 don and Liverpool, through which we have our representatives 

 in the principal crude rubber markets of Europe. Our Para 

 and Manaos houses now draw direct on our London house in 

 payment for certain of our rubber purchases, thus saving 

 bankers' commissions heretofore paid. We also have further 

 developed our facilities whereby wc get "nearer the tree" in 

 procuring a part of our supply of crude rubber. The General 

 Rubber Co. has added a selling department to its facilities 

 during the year. 



A suggested consolidation with the Continental Rubber Co. 

 was deemed by your directors to be non-advisable in the present 

 development of the so called mechanical process of obtaining 

 crude rubber through the grinding up of shrubs producing the 

 gum. which is done extensively by the Continental Rubber Co., 

 but that coinpany and the General Rubber Co. have now agreed 

 upon the terms of an arrangement which insures complete har- 

 mony and cooperation hereafter between the United Stales Rub- 

 ber Co. and the Continental Rubber Co. and between those 

 connected with both companies. 



There have been transactions of the company of importance 

 to stockholders in which your president and some of the direc- 

 tors have participated. 



Owing to the generally severe winter just passed, there is 

 every indication of a largely increased business in rubber foot- 

 wear the coming year. The market is bare of goods and our 

 unfilled orders are 60.5 per cent greater than they were at this 

 time last year. In the miscellaneous lines of rubber goods 

 equally favorable conditions exist, and there is every promise 

 that the year to coine wmII prove to be the most prosperous in 

 the history of the company. 



The record books of the directors and of the executive commit- 

 tee will as usual be open for inspection by stockholders at and 

 before the annual meeting, this report as last year being sent 

 out in advance of the meeting. Respectfully submitted, 



S.SML'EL P. COLT, Presidtnt. 

 New Hrunswick. Xtw Jer5cy, May 21, 1907. 



TREAStTRER'S REPORT. 



TIIK UNITED .ST.'VTK.S RIP.P.ER CO. .\XI) SUB.SIDI.^RY 

 COMPANIES. 



C0XS0LID.\TED GENERAL BALANCE ShEET, MaRCH 3I, I907. 



IXot including Assets or Liabilities of the Rubber Goods Manufacturing 

 Co.. or of its subsidiary companits. 1 



ASSETS. 



Property and plants (including 



shares of R. G. M. Co.) $74,455,762.80 



Inventories, Mf'd goods and mate- 

 rials $18,404,726.75 



Cash 2.061.401.27 



Bills and loans receivable 3.681. 129.19 



Accounts receivable 8,687,631.17 



Securities owned 7.3i7-759-.'?8 



Miscellaneous assets 859,919.56 41.012.567.32 



Total assets $115,468,330.12 



LIABILITIES. 



Capital stock. First preferred $36.26; 



Capital stock. Second preferred.... 9.84'- 



Capital stock. Common 25.000.1 kid in $7 1. it 1.600.00 



Boston Rubber Shoe Co., Deben- 

 tures 4.800,000.00 



United States Rubber Co., Funding 

 notes 8,000,000.00 



Fixed surpluses (Subsidiary c'oin- 

 panies) 8,134,849.37 



