282 



THE INDIA RUBBER WORLD 



[June i, 1907. 



Loans and notes payable $6,821,077.55 



Merchandise accounts payable 737.384.91 



Due General Rubber Co 7,269,441.07 14,827,903.53 



Deferred liabilities 594,281.78 



Reserve for depreciation of securi- 

 ties 1,000,000.00 



Reserve for dividends 872.989.00 



Surplus 6,126,706.44 



Total liabilities $115,468,330.12 



CONSOUD.^TED I.VCOME STATEMENT FOR Ye.\R EnDING M.\RCH 3I, 



1907. 



Gross sales. Boots and shoes and 



miscellaneous $60,568,852.27 



Net sales. Boots and shoes and 



miscellaneous $39,715,730.66 



Cost of goods sold 33,125,921.96 



Manufacturing profits $6,589,808.70 



Freight, taxes, insurance, general 



and selling expenses 1,931.746.16 



Operating profits $4,658,062.54 



Rubber Goods Mf'g Co., Dividends, 



as adj usted $689,308.32 



Other income 872,031.85 1,561,340.17 



Total income $6,219,402.71 



Less: 



Interest and commission on Fund- 

 ing notes and borrowed money... $1,228,954.28 



Interest on Boston Rubber Shoe 



Co. debentures 240.000.00 



Interest allowed customers for pre- 

 payments 93.532.19 1,562,486.47 



Net income to surplus $4,656,916.24 



Deductions for bad debts, etc 66,533.52 



Net profits $4,590,382.72 



Dividends 3,485,956.00 



Surplus for period $1,104,426.72 



Surplus April i, 1906 5,022,279.72 



Surplus March 31, 1907 $6,126,706.44 



JOHN J. WATSON, Jr., Treasurer. 

 THE ANITOAL ELECTION. 



The board of directors, nineteen members, vvas reelected. 

 The list is as follows, together with the number of terms for 

 which each member of the board has been chosen ; 



Walter S. Ballou, Providence, Rhode Island. [Fifth term.] 

 Elias C. Benedict, Xo. 80 Broadway, New York. [Sixth term.] 

 Anthony N. Brady, Xo. 54 Wall street. New York. [Fourth 



term] 



Samuel P. Colt. Bristol, Rhode Island. [Sixteenth term] 

 Harrv E. Converse, Boston. Massachusetts. [Tenth term.] 

 Charles H. Dale, No. 16 Warren street. New York. [Second 



term.] 

 James B. Ford, No. 42 Broadway, New York [Sixteenth term.] 

 J. How;ird Ford, No. 42 Broadway, New York. [Sixteenth 



term. I 



F'rank S. Hastings, No. 80 Broadway, New- York. [Third 



term. I 



Francis L. lline, Xo. 2 Wall street, Xew York. [Fifth term.] 

 Henry L. Hotchkiss, New Haven, Connecticut. [Sixteenth 



term.] 



Arthur I-. Kelky, Providence. Rhode Island. [Second term.] 



Lester. Leland. Boston. Massachusetts. I Ninth term.] 



Homer E. Sawyer. No. 42 Broadway, New York. [Second 



term.) 



Frederick M. Shepard, No. 787 Broadway, New York. [Six- 

 teenth term.] 



Francis Lyndc Stetson, No. 15 Broad street. New. York. 



[Sixth term] 

 William H. Truesdale, No. 26 Exchange place. New York. 



[Third term.] 

 John D. Vermeule, No. 503 Broadway, New York. [Eleventh 



term. | 



John J. Watson, Jr., No. 42 Broadway, New York. [Third 



term.] 



The newly elected board met in New York on May 24 and 

 after organizing reelected the following officers and executive 

 committee : 



President — Samuel P. Colt. 



First Vice President — James B. Ford. 



Second Vice President — Lester Lelanu. 



General Manager — Homer E. Sawyer. 



Treasurer — John J. Watson, Jr. 



Assistant Treasurer — W. G. Parsons. 



Secretary — Samuel Norris. 



Assistant Secretary — John D. Carberry. 



The executive committee consists of Samuel P. Colt, James 

 B. Ford, Lester Leland, E. C. Benedict, Walter S. Ballou and 

 Anthony N. Brady. 



THE 'CONTINENTAL" AND ALLIED COMPANIES. 



The reference in President Colt's report to negotiations with 

 the Continental Rubber Co. was awaited with considerable in- 

 terest, in view of various statements that have appeared in 

 the press, though the report proves not to be very definite. 

 In last month's India Rubber World (page 256) negotiations 

 were referred to between the United States Rubber Co. and the 

 Intercontinental Rubber Co., with an intimation that no de- 

 cision had been reached. The record of the last named com- 

 pany and of its subsidiary companies to date is as follows : 



Intercontinental Rubber Co., incorporated New Jersey De- 

 cember 6. 1906; authorized capital, $40,000,000 — preferred, $10,- 

 000,000 ; common, $30,000,000. Registered office : No. 15 Ex- 

 change place, Jersey City, N. J. 



Continental Rubber Co. of America, incorporated New 

 Jersey January 6, 1906; authorized capital, $30,000,000. 

 Registered office: No. 15 Exchange place, Jersey City, N. J. 



Continental Rubber Co., incorporated New Jersey 

 May 13, 1903 (as American Rubber Co.) and June 29, 

 1903; authorized capital (January 27, 1905), $562,000 — 

 all preferred. Office: No. Ill Broadway, New York. 

 Continental-Mexican Rubber Co., incorporated New 

 Jersey October 14, 1904; capital, $100,000. Office: No. 

 Ill Broadway, New Y'ork. 

 American Congo "Co., incorporated New York October 

 22, 1906; capital, $510,000. Office: No. 35 Nassau street. 

 New York. 

 The "Continent.al" companies are now operating actively in 

 the exploitation of "guayule" rubber in Mexico, and the Amer- 

 ican Congo Co. are laying the foundation for work on a con- 

 cession granted recently by the Congo Free State government. 

 The arrangement mentioned by President Colt doubtless refers 

 to the purchase of crude rubber from the Continental com- 

 panies, as they later may purchase from the Congo through 

 allied interests. In various published interviews, President Colt 

 has been quoted as -saying that the United States Rubber Co. 

 had under consideration plans for engaging in the Congo trade 

 in the way of buying rubber direct, and it may be that the 

 way will now be open through connections with the .American 

 Congo Co. 



Recent newspaper reports have been based evidently upon 

 the impression that the Continental Rubber Co. might establish 

 factories for rubber goods as a means of disposing of their 

 guayule product, and that the fact of their thus becoming com- 

 petitors of the United States Rubber Co. as manufacturers had 

 led the latter to consider the question of a general consolida- 

 tion, but all of this lacks authentic confirmation. 



The latest report regarding the transaction between the 

 United States and Intercontinental companies is the latter 

 will sell guayule rubber exclusively to the United States 

 company, which agrees not to enter the field of the guayule 

 production. The United States Rubber Co.. it is stated, have 

 an option for the purchase of a stock interest in the 

 Intercontinental Rubber Co. 



