310 



THE INDIA RUBBER WORLD 



[June i, 1903. 



Less : 



Interest and commissions on " Funding 



Notes " and borrowed money $785,143.35 



Interest on Boston Rubber Shoe Co. De 



bentures 240.000 00 



Interest allowed customers for prepay- 

 ments 154,340.30 1,170,480.05 



Net income to surplus f 1,594.908 16 



Deductions from surplus, bad debts, etc 252.459.84 



Surplus for period $[,3.12,448.32 



Surplus April I, 1902 42,01 1 75 



Surplus March 31, 1903 $[,384,460.07 



[The treasurer of the company is James B. FORD, ] 



auditor's REPORT. 



We have examined the books and accounts of the United States Rub- 

 ber Co. and its subsidiary companies for the year ended March 31,1903, 

 and 



We hereby certify that the accompanying Consolidated General Bal- 

 ance Sheet and Consolidated Income and Profit and Loss Accounts agree 

 with the books of the companies, and correctly set forth the financial 

 condition of the companies on March 31, 1903, and the results of their 

 operations for the year ended March 31, 1903, and 



That on that date the quick assets of the United States Rubber Co. 

 and its subsidiary companies, including inventories of raw materials and 

 manufactured goods on hand exceeded all the liabilities, other than capi- 

 tal stock, reserves, surplus accounts and the $12,000,000 collateral fund- 

 ing gold notes, to the extent of $20,4 1 1 ,479 27. 



It is the custom of the company, in lieu of a general charge to depre- 

 ciation, to charge to expense all betterments and improvements to plants 

 and property. haskins & sells, 



New York, May 16, 1903. Certified Public Accounlanls. 



THE ANNUAL ELECTION. 

 Fifteen directors were elected— the same number as for two 



years past — though the by-laws since 1899 have provided for 

 nineteen directors. Two changes were made in the board, 

 Walter S. Ballou, president of the Joseph Banigan Rubber Co., 

 and Ephraim L. Corning, a director in the Boston Rubber Shoe 

 Co., being elected in place of Middleton S. Burrill and the late 

 Frederic C. Sayles. There were 264,890 votes cast, all in favor 

 of the official ticket. The board is now constituted as follows, 

 the figures in parenthesis indicating the number of full terms 

 for which each member has been elected to date: 



Wai per S. BALLOU, Providence, Rhode Island, fi] 



E. C. Benedict, New York city. [2] 



Sami el P. Colt, Providence, Rhode Island. [12] 



E. S. CONVERSE, Boston, Massachusetts, [h] 



H E. Converse, Boston, Massachusetts, [b] 



COSTELLO C. Converse, Boston, Massachusetts. [3] 



Ephraim L. Corning, Boston, Massachusetts. [1] 



James B. Ford, New York city. [12] 



J. Howard Ford, New York city. [12] 



Francis L. Hine, New York city. [2] 



Henry L. Hotchkiss, New Haven, Connecticut. [12J 



Lester Leland, Boston, Massachusetts. [5] 



Frederick M. Shepard, East Orange, New Jersey. [12] 



Francis Lynde Stetson, New York city. [2J 



John D. Vermeule, New York city. [7] 



The newly elected board met in New York on May 22, and 

 after organizing elected the following officers and executive 

 committee for the ensuing year : 



President — Samuel P. Colt. 



Vice Ptesidetil—CosTEiA.0 C. Converse. 



Second Vice President — Lester Leland. 



Treasurer — James B. Ford 



Secretary — Samuel Norris. 



Assistant Treasurer — John J. Watson, Jr. 



Assistant Secretary — John D. Carberry. 



The Executive Committee consists of Samuel P. Colt, Cos- 

 tello C. Converse, Lester Leland, James B. Ford, and E. C. 

 Benedict. 



Official Boards of the Constituent Rubber Companies. 



Meyer Rubber Co. 



[Election, March 24, 1903 ] 



Dirkctors : Samuel P. Colt, James Deshler, J 

 Howard Ford, James B. Ford, Lester Leland, H. M 

 Sadler, Jr., C. C. Converse. 



President — J. Howard Ford. 



Vice President— H. M.Sadler, Jr. 



Treasurer — James B. Ford. 



Assistant Treasurer — John J. Watson, Jr. 



Secretary— Samuel Norris. 



Lycoming Rubber Co. 

 [Election, May 18, 190 ,.] 

 Directors : J. A. Beeber, Samuel P. Colt, James B, 

 Ford, Lester Leland, S. N. Williams. 

 President and Treasurer — S.N. Williams. 

 Secretary—]. A. Beeber. 



Bay State Rubber Co. 



[February 18, 1903 ] 

 Directors: H. E. Converse, Lester Leland, F. T, 

 Ryder. 

 President— W. E. Converse. 

 Treasurer — Lester Leland. 

 Secretary- F. T. Ryder. 



National India Rubber Co. 



[Election, April ra, 1903 ] 



P, scTORS: Samuel P. Colt, Henry L. Hotchkiss, 

 Charles A. Emerson, William T. C. Wardwell, Fred- 

 erick T. Ryder. 



President and Treasurer — Samuel P. Colt. 



Secretary— Walter de F. Brown. 



Goodyear's India Rubber Glove Mfg Co. 



[Election, May 22, 1903.] 

 tors: John D. Vermeule, James B. Ford, Sam- 

 uel P. Colt. C. Van Vliet, LestCI Leland. 

 President — J. D. Vermeule. 

 Treasurer— C. Van Vliet. 



Secretary — F. F. Schaffer. 



Goodyear's Metallic Rubber Shoe Co. 



[Election. May 22, 1903,] 

 Directors: John D. Vermeule, Lester Leland, Sam- 

 uel P. Colt, James Ford, Costello C. Converse. 

 President— Samuel P. Colt. 

 Treasurer— Wm. T. Rodenbach. 

 Assistant Treasurer — A. H Dayton. 

 Secretary— Charles T. McCarthy. 



Boston Rubber Shoe Co. 



[Election, May 4, 1903.] 



Dirbctoks: Elisha S. Converse, Ephraim L. Corn, 

 ing, Costello C. Converse, Henry E. Converse, Erskine 

 F, Bickford, Lester Leland, Samuel P. Colt. 



President — E. S. Converse. 



I 'ice President — C C Converse. 



Treasurer and General Manager — Lester Leland. 



Assistant Treasurer Harry P. Ballard. 



Secretary and Assistant General Manager — Fred- 

 erick T. Ryder. 



American Rubber Co. 

 [Election. May 5, 1902 -Election 1903 adjourned.] 



Directors: William R. Dupee, Samuel P. Colt. 

 Harry E. Con%-erse, Lester Leland, Costello C. Con- 

 verse. 



President— William R. Dupee. 



Tt easurer and Clerk— George P. Eustis. 



Boston Rubber Co. 



[Election, May 5, 1902— Election 1903 adjourned.] 

 Directors : S. Lewis Gillctt, George P. Eustis, Sam- 

 uel P. Coll, Harry E. Converse, Lester Leland. 

 President—S. Lewis Gillett. 

 Treasurer and Clerk- George P. Eustis. 



New Brunswick Rubber Co. 

 [Election. March 24, 1903 ] 

 tors : Samuel P. Colt, James Deshler, James 

 B. Ford, H. M. Sadler, Jr., John J. Watson, Jr. 

 President— James Deshler. 

 Treasure* — John J. Watson, Jr. 

 Secretary — H. M. Sadler, Jr. 



Colchester Rubber Co. 



[Election. 1896. J 

 Directors : Samuel P. Colt, Robert D. Evans. Henry 

 T. Bragg, H. M. Sadler, Jr. 

 President — Samuel P. Colt. 

 Treasurer— Heniy T. Bragg. 



Joseph Banigan Rubber Co. 

 [Election May rt, 1903 ] 

 Directors : Walter S. Ballou, Edward R. Rice, Sam- 

 uel P. Colt, John J. Watson, Jr., Homer E. Sawyer. 



President, General Manager ant Secretary— Wal- 

 ter S. Ballou. 



Treasurer— John J Watson, Jr. 



Woonsocket Rubber Co. 



[Election May 11, 1903 ] 



Directors: Samuel P. Colt, John W. Ellis, Walter 

 A. Read. James Harris, Walter S. Ballou, Homer E. 

 Sawyer, John J. Watson, Jr. 



President — Samuel P. Colt. 



Treasurer and Secretary — Clarence H. Guild. 



General Superintendent— John Robson. 



Superintendent — George Schlosser. 



Marvel Rubber Co. 



[Election May 11,1903.] 

 Directors: Samuel P. Colt, John W. Ellis, Walter 

 A. Read, James Harris, Walter S. Ballou. 

 President— Samuel P. Colt. 

 Treasurer and Secretary — Clarence II. Guild. 



The L. Candee & Co. 

 [Election May 11, 1903.] 

 Directors: Henry L. Hotchkiss, Samuel P. Colt, 

 James B. Ford, Lester Leland, H Stuart Hotchkiss. 

 President — Henry L. Hotchkiss. 



Vice President and Seer, tary — H. Stuart Hotchkiss. 

 Treasurer — George E. Bailey. 



Hammond Buckle Co. 



President— H. L. Hotchkiss. 

 Secretary and Treasure' — A. D. Field. 



