February i, 1906.] 



THE INDIA RUBBER 'WORLD 



169 



NEWS OF THE AMERICAN RUBBER TRADE. 



ATLANTIC RUBBER SHOE CO. 



AT a special meeting of stockholders of the Atlantic 

 Rubber Shoe Co., on December 20, 1905, the capital 

 stock of the company, which was ^10,000,000, con- 

 sisting of $2,500,000 preferred, and $7,500,000 common, was 

 reduced to S86o,ooo, being divided into $500,000 preferred 

 and $300,000 common. This was done by reducing the par 

 value of the shares, the number remaining the same On 

 January 3 at the annual meeting of stockholders of the com- 

 pany the following were elected directors for one year : 

 Latham A. Fish, John H. Flagler, George D. MacKay, Frank 

 N. White, Joseph O. Stokes, John R. Hegeman, Fdward H. 

 Litchfield, Thomas B. Hidden, G. Trowbridge Ilollister. At 

 a meeting of the directors, in New York, on January 24, 

 John H. Flagler was elected president ; George I). MacKay, 

 vice president; and George W. Palmer, secretary and treas- 

 urer. 



UNITED STATES RUBBER CO. — DIVIDENDS 

 The board of directors of the United .States Rubber Co., on 

 January 4, declared a dividend of 2 per cent, upon the First 

 Preferred stock (including all the preferred stock now out- 

 standing) for the quarter beginning October i, 1905, and a 

 dividend of i ^ per cent, upon the Second Preferred stock for 

 the same quarter, from the net earnings of the company, 

 such dividends being payable, on January 3 1 , without closing 

 of transfer books, to shareholders of record on January 15. 

 The net earnings for the first nine months of the fiscal year 

 (December partially estimated) are stated to be approximately 

 $3,162,000, without reference to dividends on the Rubber 

 Goods Manufacturing Co. stock, excepting for one-quarter 

 upon Preferred stock in the company's treasury. The net 

 earnings for the corresponding period last year were $3,140,- 

 312.67. 



A circular issued by Drake, Mastin & Co., stock brokers of 

 New York, follows : 



W'K submit herewith for the information of our friends and 

 others who may be interested, a condensed statement which we con- 

 sider a conservative forecast of the probable result of the business 

 of the United States Rubber Co. for the fiscal year ending March 

 31, 1906 : 



Estimated net earnings of tlie United States Rubber Co $3,500,000 



President Dale of the Rubber Goods Mfg. Co. (an auxiliary 

 of the United States Rubber Co.) estimates that the net 

 earnings of that company will be for the same period 

 $2,500,000 of which there will accure to the United 

 States Rubber Co 1,836,000 



Estimated total net income $5 336.000 



Less 8 per cent, on $28,640,300 1st preferred stock 



$2,291,224 

 Less 6 per cent, on $8,447,300 2d preferred stock 



508,638 $2,799 862 



Surplus applicable Ic dividends on common stock $2,536,138 



Equal to about 11 per cent, on $23,666,000 common 

 stock of the United States Rubber Co. outstand- 

 ing. 



THE SPECIAL MEETING. 

 At the special meeting of shareholders of the United 

 States Rubber Co., held on January 3, the proposed amend- 

 ments to the by laws were adopted — in relation to increasing 

 the board of directors to 21, and modifying the details of 



bond issues and allottment of dividends. The by-laws al - 

 ready in force provided for 19 directors, and as onlj' 17 were 

 elected at the last annual meeting, two additions to the board 

 were made at the special meeting : Charles H. Dale, presi- 

 dent of the Rubber Goods Manufacturing Co., and Arthur 

 L. Kelley, a director in the same company and president of 

 the Mechanical Fabric Co. (Providence, Rhodelsland). 

 BISHOP GUTTA-PERCHA CO. (NEW YORK). 

 At the annual meeting of the shareholders of this com- 

 pany, held on January 10 at the oflSce of the company, No. 

 420 East Twenty-fifth street, the following persons were 

 elected directors : Henry A. Reed, William Boardman Reed. 

 Henry D. Reed, Louis F. Reed, and Ellen I. Anderson, the 

 list being the same as last year except that Louis F. Reed 

 succeeds Amos A. Browning. Henrj' A. Reed was reelected 

 president and treasurer, and William Boardman Reed, vice 

 president. Louis F. Reed was reappointed secretary and 

 Henry D. Reed, superintendent. The usual semi annual 

 dividend of 5 per cent, was declared. 



THE GORHAM RUBBER CO. BEYOND THE PACIFIC. 



The Gorham Rubber Co. (San Francisco, California), with 

 tj'pical enterprise, have opened a depot for the sale of their 

 goods in the important city of Osaka, Japan, where they 

 carry a large stock of mechanical rubber goods, druggists' 

 sundries, and bicj'cle tires, all in charge of a resident Japanese 

 who has been most successful in disposing of their goods. = = 

 Mr. E. H. Parrish, vice president of the Gorham company, is 

 now touring the Far East. Not in an automobile but on 

 two big grips containing samples of bicycle tires and other 

 productions that the companj^ so successfully market. \\Tien 

 last heard of he was on his way from Australia to the Straits 

 Settlements, and from there he goes to China, the Philippine 

 Islands, and Jajian before returning home. 



SEMICENTENNIAL OF THE TYER RUBBER CO. 



This year will complete the first half century of the Tyer 

 Rubber Co. (Andover, Massachusetts), the business having 

 been founded in 1856 by Hehrj' George Tyer, an English 

 gentleman who began to devote his inventive genius to 

 India-rubber in New Jersey, in 1840. The chief product of 

 the Andover factory, at first, was what was called the 

 ' ' Compo " shoe, made of leather and cemented together with 

 Gutta-percha by a process invented by Mr. Tyer. Later he 

 secured a palent for the "Congress" arctic which was ac- 

 quired by the Wales-Goodyear Shoe Co. In 1866 Mr. Tyer 

 began to make rubber druggists' sundries, in which line he 

 developed many improvements, this becoming in time the 

 chief product of the factory. In 1876 the business was in- 

 corporated as the Tyer Rubber Co., Mr. Tj-er filling the office 

 of president until his death, in 1882. He was succeeded as 

 president by his son, Horace H. Tyer, and in the same year 

 John H. Flint was elected treasurer, and under their com- 

 bined management the company's business has shown a con- 

 stant growth and solidity. The company's staff meanwhile 

 has grown in size and efficiency, but this paragraph must 

 close with the mention of Frederick H. Jones, who, beginning 

 with the company 20 years ago, has risen to the position of 

 general manager. 



