286 



THE INDIA RUBBER WORLD 



[May I, 1909 



Rubber Goods Manufacturing Co.'s Annual. 



THE tenth annual meeting of the shareholders of the Rubber showed a decrease of less than 14 per cent. The earnings were 



Goods Manufacturing Co., a corporation of Xew Jersey, $2,203,519.19 as compared with $2,371,827.44 for 1907, a decrease 



was held at the registered offices of the company in of about 7.1 per cent. Thus it appears that while the volume of 



Jersey City, on Thursday, April 8. The annual reports of the the business of your company has been afifected during the year 



officers of the company were read and approved, and are given by general conditions existing throughout the country, the profits 



here in full form. hav.e not been correspondingly decreased. 



PRESIDENT WATSON'S EEPOET. '^'''^ ^^'^^" P^""' °^ ^^e decrease in sales in 1908 was due to a 



T- ~ r> ^ •« r falling off in the railroad demand for air-brake hose, steam hose 



lo THE Stockholders of the Rubber Goods Manufacturing . 1, . , , , , ■ , , , 



^ , , . , , , , . . and other material, a demand which recentlv has decidedly 



Co. : In this, the tenth, annual report of your company, it is our . , ■ ^ 



' . , ,, ,, ■ r . , improved, 



purpose to furnish to our stockholders information somewhat t-, ^ u-i .■ i_ . . , , , , . ■ 



-,,,., . . . , , , , Ihe automobile tire business increased, the sales having been 



more full than in former years, giving m place of the usual state- ^1 , ^ r • .1 l- » r .1 , ■„ 



... , .0 & {[jg largest of any in the history of the company, and a still 



ments, a consolidated statement of assets and liabilities of the , , , , • . ,'. , , , 



TiLUi-jiMi- ■ ^ J- t-j- • larger volume for the year 1909 is indicated by the present con- 



Kubber Goods iManufacturing Co. and its subsidiary companies, ,.^. ,, ^. , , ..... 



..... ... , „ , o > 1 dition of orders. Owing to the greater demand for our tires, it 



showing their condition as of December 31, 1908, and also a con- , . . 1 ,1 ■ r , , 



,. , , . , , ' . . ... has been necessarv to enlarge the capacity of the plants where 



sohdated income statement of the company and its subsidiary ., ..„ ^. ,„ „,, „ iir • 1 „ , ..r- o t., ■ 



, . ^, . T^ 1 o ^'i*^ Hartford, 'Morgan & Wright" and G & J" tires are 



companies showing the operations to December 31, 1908. r^ij nj ., , ■ , 



„ ^, o L . i , . J ■ 1 manufactured, and we are confident that the tires manufactured 



ror the year 1908, the total sales as compared with 1907, r ,, . .■ , l 1 ^ 



by these companies continue to be the best on the market. 



All of the plants of the company have been maintained in ex- 



TREASURER'S REPORT. cellcnt Condition, and in many instances extensive improvements 



Consolidated General Balance Sheet December 31, 1908. a"d additions have been made. 



The selling organization of the United States Rubber Co. has 



ASSETS. 1. .i- J . , , , , 



been utilized to a greater extent than previouslv, and the volume 



Property, plants^and investments $23,505,177.76 of goods distributed through this channel has 'largely increased. 



Patents and trade marks (less charged oft for ...... , . , . , .„ , . 



depreciation) 2 ^60 787 i;8 ^^'' indications that in the future the company will derive 



Inventories, manufactured goods greater benefits from this source. 



and materials $6,996,189.86 The regular quarterly dividends of 154 per cent, have been paid 



„ii, ■• '. 'T, ^°'''^ s"^^ ^ o on the preferred stock and four dividends of i per cent. each,. 



Bills and accounts receivable.... •^,^22.828.82 11,226,^84.07 , . ■ , . .j , , 



Securities owned $S.i37.oo have, during the year, been paid on the common stock. 



Stock owned in Gen'l Rubber Co. 1,000,000.00 1,005,137.00 It is my sad duty to report the loss sustained by your com- 



pany in the death of our late president, Charles H. Dale, which/ 



Total assets $38,106,486.41 occurred on July 18, 1908. Mr. Dale had for many years been 



LIABILITIES. ^ conspicuous figure in the rubber goods industry, having 



Capital stock, preferred $10,351,400.00 achieved great success in the organization and management of 



Capital stock, common 16,041,700.00 $27,293,100.00 The Peerless Rubber Manufacturing Co., one of the subsidiary 



Bonds of Mechanical Rubber Co. and New companies of the Rubber Goods Manufacturing Co. Mr. Dale 



York Belting and Packing Co., (less amount was one of the original incorporators of your company, and on^ 



BilirLd accounts' payable". ■.■.■.■.'.■.■.■. '.'.'.'.'.'.'.'.'. 2,690,'724.6? ^P"' '4. 1903, was elected its president, holding the office until 



Sinking fund for bonds 515.038.47 the time of his death. Respectfully submitted. 



Fixed surpluses (subsidiary companies) 2,499,218.65 JOHN J. W.-^TSON, Jr., President. 



Surplus 4,168,894.68 Jersey City. New Jersey, April 8, 1909. 



Total liabilities $38,106,486.41 



Of the above "surplus" minority stockholders in two companies would ^he annual election resulted in the board of directors being 



be entitled to $109,95^.68. continued without change, except that Samuel Norris succeeded 



The contingent liability for certain guarantees, which are offset by cor- , , _,,_,_, ^ , ., , ■ . r ^, 



responding contingent assets, is not included. the late Charles H. Dale. On April 15 the resignation of Mr. 



r^„^,, ....„„ T«-^„,.^ c .,..,-,-,. ,.»..,. , „,,„ ^^ tr T-\ Norris was accepted, and Homer E. Sawver, genera] manager 



Consolid.^ted Income Statement for the \ear Ending De- . 1 & & 



_,.,,„^„ _, ,„„o of the United States Rubber Co., elected in his stead. The board 

 cember 31, 1900. 



Net sales for year 1908 $18,491,987.90 ""'^ ''^"'^^ ' Anthony N, Brady, Ernest Hopkinson. Lester Le- 



land, Samuel P. Colt, Charles A. Hunter, Homer E. Sawyer, 



Earnings subsidiary companies for year ending Frank W. Eddy, Arthur L, Kelley, John J. Watson. Jr. 



December 31, 1908 $2,203,519.19 At a meeting of the board, held on April 8. at No. 42 



Expenses, home office (9 months).. $51,175.99 Broadway, New York, the following were reelected officers of 



Maintenance and repairs 104,335.37 the company: John J. Watson, Jr., president; Lester Leland and 



Sinking fund for bonds 63,424.66 $218,936.0.2 Charles A. Hunter, vice-presidents; Thomas H. Lee, treas- 



' urer ; Samuel Norris, secretary, and John D. Carberrv. assistant 



Net profits $1,084,58^ 17 ^ \ ■ ^ I ^ ' 



T-N- -J J i",y"^,3'jj-i/ treasurer and assistant secretary. 



Dividends 1.051,699.50 t-, r .1 . r. j t, u -r n 



, ihe financial reports were audited by Henry i. B,raga, 



Surplus for period $932,883.67 c. p. A. 



Surplus and working capital March 31, 1908.. 4.446,211.35 



... . $5,379,095,02 Ecuador,' — The United States consul general at Guavaquil re- 



Amonnts charged off for depreciation of ^^ ^^^^ j,,^ mwml of rubber e.'cported from Ecuador in 1907 



plants, patents, etc 1,210,200.34 , t |.i o<,;o a . » »u 



, , was 1,031,510 pounds, of which 810,084 pounds was sent to the 



Surplus and working capital December 31, 1908 $4,168,894.68 United States. 



