February i, 1909.] 



THE INDIA RUBBER WORLD 



171 



Some Rubber Interests in Europe. 



LARGE DUNLOP MANUFACTURING PROFITS. 



AT the tenth annual meeting of the Dunlop Rubber Co., 

 Limited (London, November 27), the reports showed net 

 profits for the year ended August 31, 1908, of £302,918 

 [= $1,474,150.45], which permitted the declaration of dividends 

 for the year of 106 per cent., the same as for the preceding twelve 

 months. The Dunlop Rubber Co. is a subsidiary of the Dunlnp 

 Pneumatic Tyre Co., Limited, constituting the manufacturing 

 division of the latter. The capital is £220,000 [= $1,070,6310] in 

 £1 shares, of which 181,881 arc held by the Dunlop Pneumatic 

 Tyre Co. The remaining 38,119 shares, not issued until March, 

 1907, are held by individual shareholders in the Pneumatic Tyre 

 Company. The total investment to date by the tire company in 

 the manufacturing company is stated at £225,437, while the divi- 

 dends have amounted to £768,762. The market value of the 

 181,881 shares now held by the tire company was stated recently 

 at about £1.330,000. The Dunlop Rubber Co. was operated for 

 the first year at a loss of £724 js. -d., since which time the yearly 

 profits have been : 



In 1901 £14.097 In 1905 £144,497 



In 1902 54.854 In 1906 209,969 



In 1903 88,823 In 1907 300,060 



In 1904 157,517 In 1908 302,918 



[The Dunlop Pneumatic Tyre Co., Limited, in addition to the 

 income here referred to as derived from manufacturing, have 

 their profits as a tire selling concern, not to mention their rubber 

 trade interests outside of Great Britain.] 



The chairman (Mr. Harvey du Cros, j. p.) referred to the ad- 

 verse conditions of the cycle and motor trades during the year, 

 though these conditions were not regarded as serious or lasting. 

 The company made special efforts in developing their general 

 rubber goods trade, with the result that the net profits for the 

 year were greater than in any former period. The company 

 anticipate a great benefit from the development of the taxicab 

 interest. There has been created under the direct control of the 

 Dunlop Rubber Co. a company prepared to undertake the mainte- 

 nance and running of cabs of any make, foreign or English, 

 from which alone a profit is assured, aside from which it is 

 believed that the close relation into which the company will 

 be brought with the cab proprietors will tend to the wider intro- 

 duction of Dunlop tires in this field. Mr. du Cros referred 

 briefly in his remarks to the interest of his company in a new 

 mill in Japan in course of erection, and which was expected to 

 be in full swing before the next annual meeting. 



The report of the Dunlop Pneumatic Tyre Co., Limited, for 

 the year ended September 30. 1908, shows profits, after providing 

 for fees, depreciation, and debenture interest, of £192,941 {=: 

 $938,947.38). Dividends as follows: Preference shares, 5 per 

 cent., amounting to £49.748; ordinary shares, 8 per cent., amount- 

 ing to £49,998; deferred shares, six months at the rate of 5 

 per cent., and six months at the rate of II per cent., amount- 

 ing to £39.996, the total dividend distribution being £139,742 

 [= $680,054.44]. It is evident that the income of the company 

 has been gained largely from the profits of the Dunlop Rubber 

 Co., Limited, but on this point the report affords no informa- 

 tion. It would be manifestly inaccurate to add the reported pro- 

 fits of the Rubber company and the Tyre company as represent- 

 ing the net income of the Dunlop interests. 



The Dunlop Rubber Co., Limited, is the subject of a leading 

 article in The Financier (London), headed "Dunlop Finance," 

 and in which appears an analysis of the company's accounts in- 

 dicating the payment last year of £24,526 [$119,35578] in man- 

 aging directors' commissions. The joint managing directors 

 are Messrs. Harvev du Cros and Arthur du Cros. 



SILVERTOWN COMPANY PROFITS. 



The report of The India-Rubber, Gutta-Percha and Telegraph 

 Works Co., Limited, presented at the annual meeting on Decem- 

 ber 15, shows a net profit for the year of £52,946, against £56,809 

 I4J-. for the year ended September 30, 1907. The general busi- 

 ness showed an increase over the year previous, but the com- 

 petition on the Continent had adversely affected the tire trade 

 of their French works, and the company had not escaped the 

 effects of depression in the electrical industry. There had been 

 little doing in submarine cable work. The dividends for the 

 year were, as usual, 10 per cent. An issue of £12,500 additional 

 in preference shares was made during the year. 



PALMER TYRE, LIMITED. 



The profit for the year ended September 30, 1908, was £10,365, 

 against £7,684 for the preceding year, and the dividend I2j4 

 per cent., against 5 per cent. The company is owned by the 

 India-Rubbcr, Gutta-Percha and Telegraph Works Co, Limited. 



GORTON RUBBER CCS GOOD YEAR. 



The Gorton Rubber Ca., Limited, of Openshaw, Manchester 

 [see The India Rubber World, November i, 1908 — page 41], 

 made a good showing for the year ending September 30. The 

 balance available for distribution was £3,993 [^19,431.93], and 

 the directors recommended a dividend of 75/2 per cent, on or- 

 dinary and preference shares. During the year the capital was 

 increased from £25,000 to £30,000 [= $145,995]. The company 

 make tires. 



AN ENGLISH OWNED FACTORY IN AUSTRIA. 



A NEW rubber factory in Austria is registered under the style 

 Stcinklammhofer Gummi-Werke G. m. b. H., with headquarters 

 at Vienna, and 200,500 kronen {= $40,701.50] capital. The situa- 

 tion is some 50 miles east of Vienna, on a stream well suited for 

 generating electric power. The business is owned and will be 

 controlled by G. W. Laugbton & Co., Limited, of Clayton, Man- 

 chester, manufacturers of mechanical rubbers and also reclaimed 

 rubber and substitutes. Plant was supplied by Francis Shaw & 

 Co., of Manchester. 



BRITISH RUBBER NOTES. 



At the seventh annual meeting of New Pegamoid, Limited 

 (London, December 8), a better financial showing was made 

 than for some time past, due in part to the lower price of cot- 

 ton, and particularly of camphor. The dividend declared was 

 3 per cent, for the year, absorbing £9.000. For the year ending 

 September 30, 1907, no dividend was declared. 



Hood Rubber Co., Limited, registered in London, September 

 16, 1908; capital £5,000 [=$24,332.50]. Objects, to buy and 

 sell rubber and other footwear, and to adopt an agreement with 

 the Hood Rubber Co., (Boston) and C. W. Randall, hitherto 

 representative in Europe of the Hood Company. The first 

 three directors are ; C. W. Randall, Frederic C. and R. P. Hood. 



W. & A. Bates, Limited, of the India Rubber Works at St. 

 Mary's Mills, Leicester, under date of November 3, advise The 

 India Rubber World: "We have the pleasure to inform you that 

 we have this day appointed as additional directors of this com- 

 pany Mr. Alfred Henry Faulkner and Mr. Ebenezer Healey, 

 junior. The original directors, namely, Mr. William Henry 

 Bates, Mr. Hugh Faulkner, and Mr. Phillip II. Lockhart, retain 

 all their original holdings and responsibilities in the company." 



The gross profit of R. & J. Dick, Limited, for the business 

 year was £63,411, and the net profit £40,124 [^195,263.45] The 

 preference dividend was 554 per cent. A dividend was paid 

 on the ordinary shares for the period from February 20 to 

 August 31, at the rate of 4 per cent, per year. 



