Mav I, 1905.] 



THE INDIA RUBBER WORLD 



267 



RUBBER GOODS MANUFACTURING CO.'S REPORT. 



THE sixth annual meeting of the shareholders of the Rub- 

 ber Goods Manufacturing Co., incorporated under the 

 laws of New Jersey, was held on April 13, at the reg- 

 istered offices of the company in that state, in Jersey 

 City. The following statement to the shareholders was pre- 

 sented by the president, Charles H. Dale : 



" In submitting the sixth annual report of the company, I am 

 pleased to state that it shows an increase in volume over the 

 preceding year, notwithstanding the depression in business 

 which existed from August, 1903, to July, 1904. During the 

 year 1904, however, the price of crude rubber was from 12 to 14 

 per cent, higher than at any time previous in the history of the 

 industry, and this, of course, has had its effect on the profits. 



" Particular care and attention has been given to all the plants 

 to maintain them in a condition of highest possible efficiency. 

 Business is now in a satisfactory condition and all the subsid- 

 iary companies show a surplus at the end of the year." 



The customary annual business report was presented, ac- 

 companied by a certificate by the company's auditors, Messrs. 

 Bragg & Marin, certified public accountants, and the whole ap- 

 proved. In the report as presented, all statements referred 

 only to the last business year. But for convenience of com- 

 parison, the corresponding figures for the four previous years, 

 are here included, in connection with the Balance Sheet shown 

 on this page, as given in the respective annual reports. 

 THE NEW DIRECTORATE. 



The annual election for directors resulted in no change in 

 the board beyond the substitution of Maurice I. Blanchard for 

 William T. Cole. The list is now as follows : 



Charles II. Dale, No. 6S Murray street. New York. 



Ernest Hopkinson, No. 253 Broadway, New York. 



Talbot J. Tayior, No. 30 Broad street, New York. 



Harry Keene. No. 253 Broadway, New York. 



Charles A. Hunter. New Durham, New Jersey. 



Frank W. Eddy, Detroit, Michigan. 



Edward Lautenbacii. No. 22 William street, New York. 



ARrmiR L. Kei lev. Providence, Rhode Island. 



Maurice I. Blanciiarm, vice president and manajjer Mechanical 

 Rubber Co., Cleveland, Ohio. 



Howard O. Smith, president Indianapolis Rubber Co.. Indianapo- 

 lis, Indiana. 



Charles J. Butler, president Morgan & Wright, Chicago. Illinois. 



William Sewakd, Jr., treasurer Hartford Rubber Works Co., Hart- 

 ford, CoTnecticut. 



E. J. Couc.llLiN, general factory manager, Mechanical Rubber Co. 



W. J. Courtney, railroad manager Peerless Rubber Manufacturing 

 Co. 



John H. Codb, general manager New York Belting and Packing Co., 

 Limited. 



The executive committee cemainsas last year : Messrsi Dale, 

 Hopkinson, Keene. Taylor, Hunter, Seward, and Coughlin. 



At a meeting of the reorganized board the following were 

 reelected officers for one year : 



Presiiiint and Chairman Executive Committee — Charlks H. Dale. 



Vice Presidents — Ernest Hopkinson, Talbot J. Tavlor, and 

 Charles A. Hunter. 



Secretary and Treasurer — Harry Keene. 



Assistant Secretary and Treasurer-] AMKS McGuFFOr. 



The value of sales reported by the company for the several 

 years has been as follows : 



1900 f;i3.364,o9o 1903 $14,310,752 



1901 14,348,048 I(j04 14.556,^89 



1902 13,999,329 



It is understood to be the policy of the company not to re- 

 sume dividends on the common stock until the surplus indi- 

 cates a probability that the payment of such dividends can be 

 maintained regularly. 



INCOMES AND DISBURSEMENTS. 

 KoR Ykar Ending Makch 31, 1905. 



Balance brought from 1904 $ 360,844 76 



Income from dividends declared by allied companies for 



year 756,790.16 



Total $1,117,634.92 



Expenses paid for year $11 7,759.99 



Charged off, loss on properties, contracts, 



guarantees, and for depreciation , 18,688.27 



Total expenses, etc. 



Net income .... 



Four dividends paid to March 31, 1905. preferred. 



136,448.26 



$981,186.66 

 563,598.00 



Balance, surplus $417,588.66 



iCONllNUED ON NEXT PAGE.\ 



BALANCE SHEET FOR 



Cash 



Mortgage notes (for property sold) 



Accounts receivable 



Treasury stock at cost 



Plants owned 



Office furniture and fixtures owned 



Net earnings of properties less amount 



received to date 



Investments, Stocks of allied companies. 



Mar. 31, 1905. 

 ? 349.164 64 

 23,000 00 

 S.244-33 



25,033.279 69 



Total $25410,688.66 



Mar. 31. 1905 



Bills payable (for money borrowed). . . . $ 



Accounts payable, to allied companies. . 



Accounts payable, to others 



Deposits by companies 



Preferred stock 8,051,40000 



Common stock 16.941,70000 



Total $24,993,100 00 



Surplus $417,588.66 



Iy04-OS, COMPARED WITH FORMER YEARS. 

 assets. 



Mar. 31, 1904. 



$305,848.98 



3 1 ,000 00 



3,920.68 



3.547.08 



25,015,279.69 



$25.359.59''.43 

 liabilities. 



Mar. 31, 1904. 



5.651.67 



8,051,400.00 

 16,941,700.00 



124,998.751.67 

 $360,844.76 



Mar. 31, 1903. 



$ 56,619.36 



31,000.00 



205.537.13 



120,000.00 



1,026.«0 



24,808,279.69 

 $25,222,462.98 



Mar. 3t, 1903. 



8,051,400.00 

 16,941,700.00 



$24,993,100.00 

 $229,362.98 



Dec. 31, 1901. 



$ 74,323 07 



15,000.00 



876,856.83 



292,443.00 



110,85605 



24,928,646.83 

 $26,298,125.78 



Dec. 31, 1901. 

 % 450,000 00 

 597,326 42 

 53.657-44 



8,051,400.00 

 16,941,700.00 



$26,094,083 86 

 $204,041.92 



Feb. I, igoi 

 $425,746.12 



45.5S5-I9 



1,271,783.77 

 25.141,149 og 



$26,884,264.47 

 Feb, I, 1901. 



405,317.33 



8,051,400.00 



16,941,700.00 



$25,398,417.33 

 $1,485,847.14 



