354 



THE INDIA RUBBER WORLD 



[August i, 1907. 



ized, $100,000. Incorporators: Robert D. Benson, Henry 

 Binns and John D. Suffern, all of Passaic, N. J. 



Howard Ramie Fiber Manufacturing Co., June 20, 1907, 

 under the laws of New York; to manufacture vegetable fibers 

 into fabrics; capital, $1,000,000. Incorporators: H. H. How- 

 ard, H. Miller-Howard and A. Hillebrandt, all of New York 

 city. 



The M. W. Dunton Co. (Providence, R. I.) have been in- 

 corporated under the Rhode Island law-s, with $50,000 capital, 

 to succeed to the business of M. W. Dunton & Co., manu- 

 facturers of uncoated cotton armature tapes and other in- 

 sulating material. 



The Ferguson Waterproof Co. filed articles of incorpora- 

 tion under the laws of Missouri, April 30, 1907, with $200,000 

 capital, in equal amounts of preferred and common stock. 

 The object is stated to be the manufacture of waterproof gar- 

 ments and other waterproof goods, at Paducah, Kentucky. 

 The principal shareholders are Forrest Ferguson, a St. Louis 

 dry goods merchant (president of the company), and David 

 M. Flournoy, a broker, of Paducah. Mr. Ferguson informs 

 The India Rubber World that the company will not use rubber. 



The Priest Tire Co., June 8, 1907, under the Wisconsin 

 laws; capital authorized, $100,000. Incorporators: George 

 Beyer, Frank Fisher, Jr., Augustus F. Priest and W. P. Cook, 

 all of Oconto, Wis. The object is to exploit a tire patented 

 by Mr. Priest, who becomes secretary of the company. The 

 present address of the company is No. 315 Everett building, 

 Akron, Ohio, in which city the tire probably will be manu- 

 factured. 



Hazen-Brown Co., Inc., May 29, 1907, under the Massa- 

 chusetts laws; to make rubber and other cements; capital, 

 $30,000. George D. Hazen, president ; Louis Brown, vice-presi- 

 dent; Max Brown, treasurer. Office: Brockton, Mass. The 

 company report: "Our business is manufacturing and marketing 

 to the shoe industry our product called 'Hazenite,' which is in- 

 tended to be used as a folding cement for oily leather." 



MOTOR CABS FOR NEW YORK. 



The New \"ork Motor Cab Co., Limited, has been formed ni 

 London, with £303,000 [=$1,474,549.50] capital, to supply in New 

 Y'ork a service of 300 Darracq motor cars, of the 14-16 H.p. four 

 cylinder landaulette type, for four or five passengers, and fitted 

 with taximeters. The rate of fares mentioned is 30 cents for the 

 first half mile and 10 cents for each additional quarter mile. 

 The cost to the company of the cabs, Paris delivery, is to be 

 ^352 [=$1,713] each. The operating cost estimates include $2 per 

 cab per day for tires. The average receipts per day are figured 

 at $24 per cab, the average gross profit $19.20, and the total 

 yearly net profit $953,400. The cabs are to be practically the 

 same as those now used in London and Paris. W. K. Vander- 

 bilt, Jr., is reported in a London paper to be financially inter- 

 ested. 



GENERAL ELECTRIC CO.S REPORT. 



The fifteenth annual report of the General Electric Co. 

 (Schenectady, New York), for the year ending January 31, 1907, 

 shows: Goods billed to customers during the year, $60,071,883; 

 orders received, $60,483,659; profits (after writing off $2,834,- 

 123.80 for depreciation of plants), $8,427,842.68; dividends paid, 

 $4,344,342; surplus at the end of the year, $15,110,796.77. The 

 capital authorized is $80,000,000, and the amount issued $65,134,- 

 130. The land area of the three manufacturing plants is about 

 445 acres ; the number of employes 28,000. The patent account, 

 figured as an asset of $4,000,000 in 1899, has been reduced 

 gradually to $1. The report mentions that electric motors in 

 industrial establishments continue to increase in numbers and 

 in variety of applications. The company have in hand contracts 

 for motors of special design, for driving steel rolling mills, of 

 an average capacity of 10,000 h. p. [Last year's report in The 

 India Rubber World, July i, 1906— page 335.] 



THE SUMMER SHUTDOWN. 



The two factories of the Woonsockct Rubber Co. closed on 

 July 26 and will resume work on August 6. This date was 

 chosen for the annual shutdown in order to allow the em- 

 ployes to celebrate "Old Home Week" at Providence. 



The Hood Rubber Co. resumed work at their factory on 

 the Monday following July 4, after having been shut down 

 during the intervening days. 



The Republic Rubber Co. (Youngstown, Ohio), after hav- 

 ing closed their factories for a few days for repairs and the 

 annual inventory, resumed work on July 5. 



The factory of the National India Rubber Co. (Bristol, 

 Rhode Island) resumed work on the Monday following July 

 4, after a shutdown of three days. The tennis shoe output 

 lately has been doubled. 



RUBBER SOLED LEATHER SHOE CO. 



Fayette W. Wheeler, admitted to the bar at Boston in 

 1898, has been disbarred on account of transactions growing 

 out of his connection with the Rubber Soled Leather Shoe 

 Co., of Soutli Framingham, Mass. This company, formed in 

 1897 and petitioned into bankruptcy in 1904, elected Wheeler 

 as president and general manager in 1902. He is charged 

 with having, by misrepresentations, induced a certain Mrs. 

 Sturtevant, now deceased, to sign notes for the company, the 

 facts concerning which have come to light fully only of late. 

 The company was formed to make a shoe patented by George 

 F. Butterfield. 



DIVIDEND PAYMENTS. 



Dividends on the shares of the following companies were 

 payable on July i: 



Boston Belting Co., quarterly, $2 per share. 



Robins Conveying Belt Co., preferred, semi-annual, 3^ per 

 cent. 



American Chicle Co., preferred, quarterly, 1J2 per cent. 



Celluloid Co., quarterly, 1^/2 per cent. 



The directors of the United Shoe Machinery Corporation 

 [see The India Rubber World, July i, 1907 — page 316] de- 

 clared a dividend of lyi per cent, on the preferred shares and 

 a dividend of 2 per cent, on the common shares, both payable 

 July 15. .All the shares are of the par value of $25. This was 

 in addition to a stock dividend amounting to 25 per cent, on the 

 common stock authorized at the annual meeting in June. 



TRIAL OF WALTER K. FREEMAN. 



The conviction of Walter K. Freeman on a charge of larceny 

 made by Parke, Davis & Co., manufacturing chemists, in a New 

 York court, was reported in The India Rubber World of April i 

 last (page 225). He was sentenced to the State prison for three 

 years, but made various motions for a new trial, on which a 

 final hearing was not reached until July 22, when the sentence 

 pronounced in April was confirmed. Freeman has succeeded in 

 gaining another opportunity to move for a new trial, in a higher 

 court, which motion will come up in September, Freeman has 

 been confined in the Tombs prison in New York for more than 

 a year, and is now held in $10,000 bail. 



ELECTRIC RUBBER MANUFACTURING CO. 



The sale of the plant of the Electric Rubber Manufacturing 

 Co. (Rutherford, New Jersey), in bankruptcy, was reported in 

 the last issue of this paper (page 321). The receivers have since 

 notified the creditors that the Manhattan Storage Co. (New 

 York) make certain claims against the company, in respect of 

 tires alleged to have been bought under guarantee and found 

 to be of poor quality, and the creditors of the rubber company 

 were invited to appear on July 29, at the chancery court in Jersey 

 City, when the receivers were to pray for the direction of the 

 court as to the claims above mentioned. The Rutherford prop- 

 erty sold for $85,000, or in excess of the admitted claims. 



