434 



THE INDIA RUBBER WORLD 



[September i, 1909. 



News of the American Rubber Trade. 



APSLEY RU3BEK CO. BUSY. 



THE Apsley Rubber Co. (Hudson, Massachusetts) were re- 

 ported as working at full ticket, and not likely to 

 shut down for inventory and repairs. The Hon. L. D. 

 Apsley, president of the company, has been lately in the West, 

 going as far as Seattle, where are the coast headquarters of the 

 Rubber Manufacturing and Distributing Co., of which he is also 

 president. The Rubber Manufacturing and Distributing Co. have 

 organized a fine display at the Glove and Leather Market Fair, 

 in Chicago. 



STAMFORD INDUSTRIES. 



The Daily Advocate of Stamford, Connecticut, issued recently 

 a triennial industrial edition which is not only a most creditable 

 publication, but makes a good showing for the leading industries 

 of Stamford. The rubber branch is represented by The Stam- 

 ford Rubber Supply Co., manufacturers of rubber substitutes, 

 and The Atlantic Insulated Wire and Cable Co. The Rutherford 

 Wheel Co., manufacturers of steel wheels for automobiles, are 

 also located in Stamford, and a considerable business is done 

 in that city in automobile tires. 



CONSUMERS' RUBBER CO. ENLARGING. 



The growth of business of the Consumers Rubber Co. (Bris- 

 tol, Rhode Island) has led the proprietor, Mr. Terrence McCarty, 

 to purchase additional ground adjacent to the property, on which 

 he intends erecting a new building for factory purposes. The 

 wire insulating plant is to be enlarged, with a view to meeting 

 the demand for larger-sized insulated cables than have been 

 made at this plant hitherto. The footwear factory has been pro- 

 ducing 2,400 pairs daily of late. 



WE3TINGH0USE ELECTRIC PROFITS. 



Thl annual report of the Westinghouse Electric and Manu- 

 facturing Co. for the year ended March 31, 1909, points out that 

 the affairs of the company were taken out of the hands of the 

 receivers December 5, 1908. Manufacturing operations were car- 

 ried on under the receivership without cessation, though on a 

 smaller scale. Gross earnings were $20,606,592.04, against 

 $34,175,548 two years previous. The net manufacturing profits 

 were $650,783.53, and other income (from royalties, etc.) brought 

 the total income to $1,966,258.65. Deducting interest, and 

 $5i3>3i6.l4 for depreciation of plant, there was, instead of a net 

 income, a deficit of $918,682.91. The report says: "While there 

 has been a decided improvement in the business of the company 

 since the beginning of the year, it has not yet nearly reached 

 normal proportions, although the outlook and inquiries indicate 

 that in the near future the full capacity of your various works 

 will be required to meet the demand." The financial report 

 states the surplus on March 31, 1909, at $8,980,324.69, against 

 $12,595,151-67 March 31, 1907. 



IMPROVED ACTIVITY OF GENERAL ELECTRIC. 



The General Electric Co. were reported early in the last month 

 to be giving employment to about 25,000 persons. At the high 

 point of the company's business in 1907 the number of employes 

 had reached about 31,000, but following the depression the figure 

 fell to about 19.000. The increase in the number of employes 

 has been gradual, keeping pace with the slow but constant im- 

 provement in sale. It is estimated that the number of employes 

 will be increased to 30,000 within a year. 



AMERICAN MOTOR CABS. 



The India-Rnbber Journal says : "We learn that our American 

 cousins are about to place upon the roads in the chief cities in 

 the States, motor cabs of home manufacture, which will mean 

 increased demand for rubber tires, which at the lowest computa- 



tion means 20s. a week per vehicle for tires alone — £52 a year. 

 A similar development is also expected in the old country in 

 other towns, so that there should be a big increase in the demand 

 for tires and a similar increased consumption of rubber." 



UNITED STATES RUBBER CO.'S ISSUES. 



Transactions on the New York Stock E.xchange for four 

 weeks, ending August 21 : 



Common Stock. $25,000,000. 



[Less $1,334,000 in treasury of a subsidiary company.] 

 Last Dividend, April 30, 1900 — 1^. 

 Week July 31. .. . Sales 3,700 shares High 42 Low 38;4 

 Week August 7. Sales 31,220 shares High 47}/^ Low 42 

 Week August 14. Sales 48,525 shares High 53 Low 45 

 Week August 21. Sales 65,743 shares High 57.)^ Low 50 

 For the year — High, 57^, Aug. 19; Low, 27, Feb. 24. 

 Last year — High, 37J4: Low, i7j^. 



First Preferred Stock, $36,263,000. 



Last Dividend, July 31, 1909 — 2%. 



Week July 31.... Sales 2,250 shares High 117 Low n6j4 



Week August 7. Sales 6,170 shares High 119 Low 117 



Week August 14. Sales 10.620 shares High I20j4 Low 117 



Week August 21. Sales 5,070 shares High I20'4 Low Ii8j4 



For the year — High, i2oJ4, Aug. 14; Low, 98, Jan. 29. 



Last year — High, 108; Low, 76. 



Second Preferred Stock, $9,965,000. 



Last dividend, July 31, 1909 — i ^%. 



Week July 31. .. . Sales 410 shares High 8354 Low 83 



Week August 7. Sales 6.245 shares High 87 Low 84 



Week August 14. Sales 4,935 shares High 88}^ Low 86 



Week August 21. Sales 2,150 shares High 88J4 Low 8654 



For the year — High, 88j/^, Aug. 14; Low, 67j^, Feb. 25. 

 Last year — High, 755^; Low, 42. 



Six Per Cent. Certificates, $20,000,000. 



[$15,000,000 issued.] 



Week July 31.... Sales 27 certs. High 10554 Low 105K 



Week August 7. Sales 78 certs. High 105^ Low 105 



Week August 14. Sales zy certs. High losYz Low 105 



Week August 21. Sales 75 certs. High 105^ Low 104J4 



The New York American's review of Wall Street for the 

 week ending August 21, a period of much activity in stocks, 

 says : "One stock strong throughout the excitement was United 

 States Rubber common. This stock is to get a dividend at the 

 rate of 4 per cent., the initial payment to be announced in 

 October, at the latest, and perhaps at the regular meeting to be 

 held September 16. There is a party of directors opposed to 

 this dividend, but it is suspected that they have sold out their 

 shares and would like to repurchase before the action that the 

 most influential directors have announced will be taken." 



On the contrary, the Boston News Bureau reports : "A 

 leading director of the company says : 'The matter of starting 

 dividends on the $25,000,000 common, this year has not been 

 considered by the board and is not likely to be. It is en- 

 tirely too early to talk common dividends. We have had a good 

 year and arc earning a substantial surplus for the common, but 

 directors will go slow in paying out these earnings as dividends 

 when they can be utilized to better advantage in the property.' 



"The nearness of dividends on Rubber common depends en- 

 tirely upon the continuance of good earnings. With another 

 year as good as the one through which the company is now 

 passing common dividends would be fairly certain, and if the 

 outlook favored a third year of substantial earnings, would be 

 practically assured." 



The latest quotations are 5l!4 for common and iiS]^ for 

 first preferred. 



