May 



1906.] 



THE INDIA RUBBER WORLD 



251 



RUBBER GOODS MANUFACTURING CO.'S REPORT. 



THE seventh annual meeting of the shareholders of 

 the Rubber Goods Manufacturing Co., incorporated 

 under the laws of New Jersey, was held on April 12, 

 at the registered offices of the company in that state, 

 in Jersey Citj-. The following statement of the condition of 

 the company was made to the shareholders in reports of the 

 president and treasurer : 



To THE Stockholdkrs of the Rubber Goods Manueact- 

 URING Co. : 111 suhiiiittiiig the seventh annual report of your com- 

 pany, I beg to call attention to its excellent coiulition, evidenced 

 by the increase in business, in equipnieiit, and in il.s facilities for 

 obtaining supplies of crude rubber. 



At the time of the last annual report there was a one-quarter 

 interest of the Morgan & Wright company outstanding, which has 

 since been acquired. This company operated at great disadvantage 

 in several leased premises. During the year there has been erected 

 at Detroit, Michigan, the best equipped and most modern plant in 

 the world, having a capacity of 15,000,000 per year, as against 

 $2 000,000, the united capacity of the former leased premises. The 

 company has had no benefit from this plant the past year, as it has 

 been in process of construction. It will, however, be in full oper- 

 ation this summer. 



The above accounts in part for the increase in the investment 

 account. The balance is accounted for by the interest that this 

 company acquired in the General Rubber Co. 



Another most important step forward during the past year is the 

 uniting of the operations of this company with the United States 

 Rubber Co. in the purchase of crude rubber. This unity of action 

 has been effected throuj^h the joint ownership of this company and 

 the United States Rubber Co. of all the stock of the General Rubber 

 Co. The benefits derived from these connections in the past six 

 months warrant the expectation that in the near future your com- 

 pany, together with the United States Rubber Co., will occupy a 

 position of unique advantage in this most important branch of the 

 business. 



All crude materials employed in the manufacture of our prod- 

 uct, — rubber, cotton duck, etc., ranged higher in price in I905 

 than in any previous year in the history of the industry. 



The maintenance of plants and equipment without exception has 

 received the same careful attention as in previous years, and their 

 values to day greatly exceed their original cost. 



Reports received from the various allied companies for the first 

 (piarter of 1906 show a gratifying increase of sales over the same 



period of 1905. Respectfully, 



CH.\RLES H. DALE, President. 

 Jersey City, New Jersey, April 12, 1906. 



BALANCE SHEET. 

 A.SSETS. 



March 31, 1906 Marcli 31, 1905. 



Cash § 383,593.('5 ? 349.164-64 



Mortgage notes (for property 



sold) 19,000.00 23,000.00 



.\ccounts receivable 7,792 26 5.244.33 



Investments, Stocks of allied 



companies 27,458.77969 25.033279.69 



Total S27 869 165 60 $24,993,100.00 



LIABILITIES. 



Preferred stock $10,351,400.00 $ 8,051,400.00 



Common stock 16,941,700.00 16,941,700.00 



Total $27,293,100.00 524.993,100.00 



Surplus S 576065.60 $ 417,588.66 



INCOMES AND DISBURSEMENTS. 



For Year Endinc. March 31, 1906. 



Balance brought from 1905 $ 417,588.66 



Amount realized on old items previously charged off 10,173.84 



Income from dividends declared by allied companies 



for year 962,323 91 



Total |l,390 086.41 



Kxpen.ses paid for year '. 134,922.81 



Net income $1 255,163.^10 



l-'onr dividends paid to March 31, 1906, Preferred . 679,098.00 



Balance, surjjlus $ 576,065.60 



Synopsis of Operations of Allied Companies for Years 

 End INC. December 31. 



Ic;04. Iii05. 



Sales $14,556,289.00 f 17,662.453.00 



Gross earnings 1,901,63002 2,202,035.77 



Net balance of profit 1,150,717.56 135S.485.29 



Dividends declared for year. . . a 810,746.16 4986,835.91 



[a -To March 31, 1905 ; *— To March 31, 1906. 1 



A motion to reduce the number of directors from 15 to 9 

 was adopted, 246,409 shares being voted in favor of the res- 

 olution and 49 votes against. Article II, section I of the bj'- 

 laws now reads in part as follows : 



The board of directors shall consist of 9 stockholders, or such 

 greater number, not exceeding 21, as may, by amendment hereof, 

 be from time to time prescribed. The board of directors may at 

 any time increase their number by election to such board of an 

 additional person or persons, who shall be stockholders of the com- 

 pany, as provided for the articles of incorporation. 



The following were then elected directors, the new mem- 

 bers of the board being indicated by italics : 

 Charles H. Dale, Einest Ilopkinson, Charles .\. Hunter, 



Frank W. Eddy, Arthur L. Kelley, Samuel P. Colt, 



Aul/wny A^. Brady, Lester Leland . John J. Watson, Jr. 



The directors elected last year and not on the new board 

 are Talbot J. Taylor, Harry Keene, Edward Lauterbach, M. 

 I. Blanchard, H. O. Smith, C. J. Butler, William Seward, 

 Jr., E. J. Coughlin, W. J. Courtney, and John H. Cobb. 

 Colonel Colt was first elected a member of the board several 

 months ago. Charles H. Dale and Arthur L. Kellej', of the 

 Rubber Goods board, were elected directors of the United 

 States Rubber Co. in January last, and it is understood that 

 other representatives of the Rubber Goods company will be 

 added shortly to the board of the Ignited States company. 



The first meeting of the new board of the Rubber Goods 

 Manufacturing Co. was held on April 13, when the follow- 

 ing officers were elected : 



/'rw/V/t'w/— Charles H. Dale (reelected) 



Viec Presidents — hP.&TPM I.eland (second vice president 

 United States Rubber Co.) ; Charles A. Hlkter (reelected). 



Secrelaiy and Treasurer — John J. W.-^tson, Jr., (treasurer 

 United Slates Rubber Co. ). 



Assistant Secretary and Assistant Treasurer — James McGuf- 

 FOG (reelected). 



« * » 



The newspapers have contained references to certain ques- 

 tions asked of the management by Mr. August Hecksher, 

 stated to be the holder of 1500 shares of common and 2400 

 shares of preferred stock in the Rubber Goods Manufactur- 

 ing Co. It appears that, prior to the meeting on April 12, 

 Mr. Hecksher' served notice of his intention to submit some 

 questions, and was invited to put them in writing. He did 



