394 



THE INDIA RUBBER WORLD 



[August i, 1903. 



large creditors, and many notes to other parties are well scat- 

 tered. Liabilities are stated at about $677,000 and the assets 

 $626,000. The last statement of capital was $295,000, and the 

 amount of sales $1.600000. Lewis T. Bartlett and Elias W. 

 Lavers have been appointed receivers, by the United Slates 

 court. At a meeting of creditors on July 8, Mr. Foster stated 

 that the firm's finances for 23 years past had been looked after 

 by E. E. Leavitt, a member of the firm, in whom the others 

 had full confidence. The first knowledge of the firm's embar- 

 rassed condition came after the disappearance of Mr. Leavitt, 

 upon an examination of the books. The creditors appointed a 

 committee to act in their behalf, consisting of John McNair, a 

 Lynn bank president (chairman) ; C. M. Brett, C. S. Fuller, and 

 I. L. Prouty, shoe manufacturers ; and George P. Eustis, rep- 

 resenting the United States Rubber Co. 



MODEL RUBBER CO. 'S PLANT TO BE USED. 

 A company has been organized, under the style cf Brindle 

 Brothers, to manufacture elastic webbing, feather edge tapes 

 in cotton and silk, and all kinds of narrow fabrics, in the plant 

 occupied by the late Model Rubber Co., in Oak street, VVoon- 

 socket, Rhode Island. Robert Brindle is president and treas- 

 urer and Thomas Brindle general manager. The factory 

 buildings have not been used since the end of 1901, and were 

 disposed of at public sale on August 21, 1902, to Fred L. Smith- 



TERRENCE MCARTY TO MAKE RUBBER SHOES? 

 In reply to an inquiry Terrence McCarty, of Bristol, Rhode 

 Island, informs The India Rubber World: "I am just 

 breaking ground to set up my engine and dynamo and have 

 purchased some rubber machinery. My plans, however, are 

 not yet perfected, but I assure you that I shall be pleased to 

 give you full particulars as soon as there is anything for publi- 

 cation." Mr. McCarty, after having been connected with the 

 National India Rubber Co., organized the Byfield Rubber Co. 

 at Bristol and was superintendent of its factory so long as the 

 company continued in business. In the summer of 1900 Mr. 

 McCarty purchased land adjoining the Byfield factory and 

 erected a building on it, which he still owns and will utilize in 

 his new industry. It is understood in Bristol that the product 

 is to be rubber footwear. 



ALDEN RUBBER CO. — NEW YORK BRANCH. 

 The Alden Rubber Co. (Barberton, Ohio) have opened a 

 branch store in New York at No. 11 1 Chambers street, which 

 has been placed in charge of Mr. C J. McDaniel, whose exper- 

 ience in the Eastern states, in connection with leading rubber 

 companies, has equipped him admirably for the sale of the 

 specialties which he is now marketing for the Alden company. 



THE POPE MANUFACTURING CO. 



The complete organization is now reported of this company, 

 headed by Colonel Albert A. Pope, as mentioned already in 

 these pages. The official list follows : 



Directors— William A. Read, Colgate Hoyt, F. S. Smithers, G. F. 

 Crane, Alfred L. Pope — all of New York ; Albert A. Pope and Charles 

 Iliyden, Boston ; Colonel George Pope, Orange, New Jersey; S. C. 

 Winslow, Worcester. Mass. ; G. T. Hollistcr, Rutherford, N. J. 



President — ALBERT A. Pope. 



Vice President — ALBERT L. Pope. 



Treasurer — George Pope. 



Secretary — Paul Walton. 



On the evening of July 3 a reception was tendered to Colonel 

 Albert Pope at Hartford, Connecticut, by the Business Men's 

 Association of that city, and attended by the Governor and 

 leading citizens. In addressingthe guests, Colonel Pope spoke 

 hopefully of the future of the bicycle trade, though the success 

 of his company would not depend upon that alone. They will 

 also make automobiles. " The automobile," said he, " is as 



much bigger than the bicycle as it weighs more than the bi- 

 cycle," and a new model was being worked out to be made at 

 the Columbia factory, in Hartford. They would introduce 

 other features, also; a contract had been signed for the manu- 

 facture of an improved cash register, for example, and Colonel 

 Pope predicted that there would be work enough for all the 

 factories taken over from the American Bicycle Co. 



APSLEY RUBBER CO. (HUDSON, MASS.) 

 The annual statement of condition (May 4, 1903), filed with 

 the Massachusetts commissioner of corporations, gives the fol- 

 lowing details : 



ASSETS, LIABILITIES. 



Real estate $164,(127 Capital stock $450,000 



Machinery 158,20s Debts 454,027 



Cash and debts receivable 381,083 Profit and loss 60,558 



Stock in process 236,827 



Patents, trade marks... 23.S40 Total $964,585 



Total $964,585 



WOONSOCKET RUBBER CO. 

 The details of the statement of condition (March 31, 1903) 

 filed by this company with the Massachusetts commissioner of 

 corporations compare with the statement for the preceding 

 year as follows : 



Assets: J9°3- 1902. 



Real estate $ 897,543 $ 902,403 



Machinery 324,135 336,659 



Cash and debts receivable 3,411,309 1,705,443 



Stocks in process 1,640,297 2,083.850 



Adjustment of inventory 1,198,994 



Miscellaneous 1,188 



Total ... $7,473,466 



Liabilities: 



Capital stock $3,000,000 



2,805,999 



Debts 



Fixed surplus. 

 Profit and loss. 



,613,900 

 53,567 



§5,028,355 



$3,000,000 



1,543,861 



414,905 



69,589 



Total $7,473466 $5,028,355 



The factory has been running full time all summer, with an 

 unusually large working force. It was reported lately that the 

 force of women employed in the " Alice " mill was about to be 

 increased from 300 to 400, and that there probably would be 

 no shutdown for the summer. 



BANKRUPTCY OF DRESSER & CO. (NEW YORK). 

 Judge Adams, of the United States district court in New 

 York, on July 9. signed an order for adjudication in bankruptcy 

 of Dresser & Co., commission merchants in hosiery, silks, and 

 elastic webbing, Nos. 15-17 Greene street, New York, and re- 

 ferred the matter to Stanley W. Dexter, referee in bankruptcy, 

 of No. 71 Broadway. It had previously become known to the 

 firm's creditors that D. Le Roy Dresser, the head of the firm, 

 would not be able to fulfil his agreement [see The India Rub- 

 ber World, May 1 — page 279] to deposit securities sufficient 

 to meet all their claims, owing to the depreciation which said 

 securities had undergone, and the creditors may not now re- 

 ceive more than 25 or 30 per cent, of their claims. ==The time 

 allowed to the receivers appointed under the original proceed- 

 ings in this case, to continue business, was finally extended to 

 July 27. Up to June 29 they had sold $314,956 worth of goods, 

 on which $159 290 had been collected, besides collections of 

 $390,000 due the firm on open account on old business. On 

 July 12 the outstanding accounts were reported at $1 1 1.000, and 

 the receivers had a balance in bank of $89076, with current ex- 

 penses paid.= = The affairs of Dresser & Co. appear to have be- 

 come involved through the connection of Mr. Dresser with 

 the organization of the United States Shipbuilding Co., the 



