152 



THE INDIA RUBBER WORLD 



[January i, 1909. 



TTNITED STATES EUBBER 00. FINANCES. 



A SPEOAL meeting of the stockholders of the United States 

 Rubber Co. was called to be held at the principal office of 

 the company, at New Brunswick, N. J., on December 29, to 

 take action upon the following resolutions, proposed by the 

 board of directors, and of which tlie shareholders had notice 

 in a circular issued December I : 



"Resolved, That assent be and is hereby given to the pledge 

 by this company of all or any shares of the capital stock of 

 all or any corporations now owned or hereafter acquired by 

 it, as security for a proposed issue of $20,000,000 of ten year 

 6 per cent, collateral sinking fund gold bonds of this company. 



"Resolved, That the board of directors be and they are 

 hereby authorized from time to time to take appropriate 

 action with reference to the issue and sale of not exceeding 

 $20,000,000 of ten year 6 per cent, collateral trust sinking 

 fund gold bonds of this company, to be secured by the pledge 

 of shares of stock of subsidiary companies of this company 

 under an indenture to be executed and delivered to the Central 

 Trust Co. of New York, or such other trust company as shall 

 be designated by the board of directors as trustee. 



"Resolved, That the form of collateral indenture securing 

 said ten year 6 per cent, collateral trust sinking fund gold 

 bonds, to be presented at said meeting, be in all respects 

 approved and the execution and delivery of said collateral 

 indenture be authorized." 



The proposition of the directors looked to the sale of $15,- 

 000,000 of these bonds for the purpose of funding $8,000,000 

 United States Rubber Co., maturing September 15, 1909, and 

 $4,500,000 Boston Rubber Shoe Co., maturing September 15, 

 1910, both issues being redeemable March 15, 1909, and to 

 provide for the present floating indebtedness of the company. 

 The circular stated: "A sale is to be made to a syndicate (in 

 which some of your directors will participate), upon terms 

 which are deemed more favorable to the company than those 

 of any former refunding, and which will be reported at the 

 stockholders' special meeting." It is further stated: 



"On March 31, 1902, the total amount of outstanding fund- 

 ing notes and Boston Rubber Shoe Co. debentures was $16,- 

 800,000; on March 31, 1908, by payments out of earnings this 

 had been reduced to $12,800,000. At the same time the book 

 surplus had been increased by the sum of $6,142,802.83. For 

 the year ending March 31, 1902, sales were $21,196,429.81; for 

 the year ending March 31, 1908, $41,860,425.96. These figures 

 do not include the transactions of the Rubber Goods Manu- 

 facturing Co." 



The shareholders, at the special meeting, gave their assent 

 to the proposal of the directors. 



tmiTED STATES RtTBFER CO.'S SHARES. 



Transactions on the New York Stock Exchange for four 

 weeks, ending December 19: 



Common Stock. 



Sales 3,635 shares High 36>'g Low 35 



Sales 3,330 shares High 36 Low 34^ 



Sales 2,100 shares High 34-)4 Low 34 



Sales 2,400 shares High 34^ Low 32^ 



For the year — High, 37 M, Aug. 7; Low, 17H, Feb- 26. 

 Last ycar^High, 52 J^; Low, 13'A. 



First Preferred Stock. 

 Sales 4,500 shares High 107 Low 1055^ 

 Sales 3,17s shares High 108 Low loSyi 

 Sales 2,050 shares High 108 Low 107 

 Sales 1,560 shares High 108 Low 105 



For the year — High, 108, Dec. 2; Low, 76, Feb. 19. 



Last year — High, iog%'. Low, 61 J4. 



Second Preferred Stock. 



Week November 28 Sales 1,250 shares High ysVi Low 74 



Week December 5 Sales 500 shares High 75^ Low 74 



Week December 12 Sales 605 shares High 75 Low 74^^ 



Week December ig Sales 600 shares High 75 Low 72 



For the year — High, 75j^, Nov. 27; Low, 42, Feb. 21. 

 Last year — High, 78 J^; Low, 39. 



Week November 28 

 Week December 5 

 Week December 12 

 Week December 19 



Week November 28 

 Week December 5 

 Week December 12 

 Week December 19 



POPE MANUFACTURING CO. REORGANIZED. 



Incorporation papers were filed under the laws of Connecticut 

 on December 12 for a new Pope Manufacturing Co., being a 

 reorganization of the New Jersey company by the same name 

 which has been in receivers' hands since August 14, 1907. The 

 capital stated is $6,500,000 — $2,500,000 preferred and $4,000,000 

 common, all at $100 per share. The incorporators were Albert L. 

 Pope, Colonel George Pope, Charles E. Walker, and Wilbur C. 

 Walker — respectively vice president, treasurer, second vice presi- 

 dent, and secretary of the company in liquidation. The directors 

 chosen are Harry Bonner, Frederich H. Ecker, August Heck- 

 scher, Louis E. Freedman, Albert Stickney, A. W. Pope, Henry 

 B. Poor, A. L. Pope, and Milton Ferguson. It will be seen that 

 Colonel Albert A. Pope is not included on the board. 



The original Pope Manufacturing Co. was organized by Colonel 

 Pope in the early days of the bicycle industry and achieved great 

 success. The company was included in the $40,000,000 American 

 Bicycle Co. formed in 1899 and when this company went into 

 liquidation what remained of the assets was taken over by Colonel 

 Pope, who organized a new Pope Manaufacturing Co. in 1903, 

 with an authorized capital of $22,500,000. The purpose was to 

 revive the bicycle industry if possible, and to engage largely in 

 the manufacture of automobiles. This company made a voluntary 

 assignment in 1907, since which time some of the numerous fac- 

 tories controlled by it have been disposed of and others have been 

 operated at a profit by the receivers. The creditors have been 

 paid in full, with interest at 6 per cent. 



A GOODLY SUPPLY OF RUBBER. 



It has often been jokingly suggested that all rubber manufac- 

 turers did not use rubber. Indeed tradition has it that at one 

 time the ubiquitous Magowan, in order to prove to a customer 

 that he really knew what Para rubber was, opened his safe and 

 produced the factory's stock for temporary inspection. That 



"A Goodly Supply of Rubber 



all manufacturers to-day do use rubber and the best, however, 

 goes without saying, else why should rubber be so high? Right 

 in line with this thought, the prettiest factory stock we have 

 seen of Para rubber in a manufacturer's storehouse is shown in 

 the accompanying reproduction of a photograph taken at the 

 storehouse of the Hood Rubber Co., East Watertown, 

 Massachusetts. 



CHEAPER RATES FROM THE WEST. 



The Merchants' Association of New York have received ad- 

 vices that the Rock Island-Frisco system has authorized mer- 

 chants' rates to New York for the spring of 1909, from all points 

 reached by its line, the special rate being lyi fares for the round 

 trip. It will be in effect on different dates from January 16 to 

 the end of February, with a 30-day return limit. This new 

 movement places merchants in the far West and Southwest on 

 an equality with those in nearby centers, who have enjoyed re- 

 duced rates for a number of years. 



