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THE INDIA RUBBER WORLD 



[June i, 1905. 



NEWS OF THE AMERICAN RUBBER TRADE. 



RUBBER GOODS MANUFACTURING CO. 



THE directors, at a meeting in New York on May 19, 

 declared the twenty-fidh regular quarterly dividend 

 of 1)4 per cent, on the preferred shares of the com- 

 pany, out of earnings, payable on June 15 to all share- 

 holders of record on June 5. Checks will be mailed to regis- 

 tered addresses. 



MANUFACTURED RUBBER CO. (PHILADELPHIA). 

 The annual meeting of shareholders of this compaay— the 

 first since the reorganizatiort — was held on May 10 at the reg- 

 istered offices in Camden, New Jersey. It was stated that the 

 factory at Metuchen, New Jersey, had been improved during 

 the year at a cost of $1 2,000, and that mortgages on the factory 

 amounting to $23,000 had been bought in, leaving the plant 

 now free of all incumbrances. The operation of the plant had 

 shown an encouraging profit, and the output for 1905 was sta- 

 ted to be largely sold ahead. The directors elected are Clay- 

 ton E. Piatt, John S. Arndt, George G. Peterson, D. A. Cutler, 

 ]. P. Cunningham, Edward J. Dumee, and A. S. Hardy. 



WOONSOCKET RUBBER CO. — ELECTION. 

 At the annual meeting of shareholders of the Woonsocket 

 Rubber Co., at Woonsocket, Rhode Island, on /Vpril 24, the 

 following directors were elected : Samuel P. Colt, Walter A. 

 Read, John W. Ellis, James Harris, Walter S. Ballou, Homer 

 E. Sawyer, John J. Watson, Jr. The directors, after organiz- 

 ing, elected Colonel Samuel P. Colt president and general 

 manager, and Charles H. Guild secretary and treasurer. There 

 is no change in the list. A statement of the financial condi- 

 tion on March 31, 1905, filed with the Massachusetts commis- 

 sioner of corporations, follows : 



ASSETS. LIABILITIES. 



Real estate $ 897,543 Capital stock $3,000,000 



Machinery 292,843 Accounts payable.... 408,872 



Merchandise 3,017,449 Special indebtedness.. 1,800,000 



Cash and receivables. .. . 94.955 Fixed surplus 1,613,900 



Adjustment of inventory. 1,198,994 Profit and loss 479,012 



Special account receiv- 

 able 1,800,000 



Total $7,301,784 Total $7,301,784 



The item of $i,Soo,ooo, on both sides of the above account, 

 relates to a special account with the United States rubber. 

 Last year the amount figured as $2,800,000. 



NEW COMBINATION IN THE COTTON DUCK INDUSTRY. 

 Plans have been formulated for the complete merger of the 

 Mt. V'ernon-Woodberry Cotton Duck Co. and the United 

 States Cotton Duck Corporation — two companies which have 

 been closely allied, though not always able to work together in 

 complete harmony owing to the difficulty of distributing the 

 orders received so as to satisfy conflicting claims. Both com- 

 panies own valuable mills, located in various states, and valua- 

 ble brands and trade marks. The holders of the securities of 

 the two companies were invited to deposit the same, not later 

 than May 29, with certain named trust companies, with a view 

 to their exchange for shares of a new corporation, to be formed 

 under the laws of Delaware, under the name Consolidated Cot- 

 ton Duck Co. One result of the merger will be a substantial re- 

 duction of the capital. The new company will be capitalized 

 at $6,000,000 in 6 per cent, cumulative preferred shares and 

 $7,000,000 in common stock — a total of $13,000,000, all in shares 

 of $50, par value. It is understood that there will be no syndi- 



cate or other commissions, and that the trust companies named 

 as depositaries of the securities will serve without charge. The 

 organization of the United States Cotton Duck Corporation 

 was reported in Thk India Rubber World July i, 1901. 

 (page 291), since which time its relations with the Mt. Vernon- 

 Woodberry Cotton Duck Co. have been modified, and the cap- 

 ital issues largely reduced from the original figure. 



AMERICAN RUBBER CO. — ELECTION. 

 A I' the annual meeting of shareholders, in Boston, on May 

 3, the old board was reelected as follows: Samuel Pomeroy 

 Colt, William R. Dupee, Harry E. Converse, Lester Leland, 

 and Costello C. Converse. At a subsequent meeting of the di- 

 rectors William R. Dupee was reelected president and George 

 P. Eustis treasurer and clerk. The following financial state- 

 ment was submitted and approved ; 



ASSETS. 



Plant (Land, buildings, machinery, and fixtures) % 322,831.47 



Cash 33.9&2 53 



Bills receivable, Special 600,000.00 



Accounts receivable (Classed good) 876,508.62 



Inventory (Conservative cost) 1 ,839,684.25 



Miscellaneous 22,00000 



Total assets $3.69^,986 87 



I. I A n 1 L I T I E s. 



Capital $1 ,000,000 00 



Bills payable 465,000.00 



Bills payable. Special : 600,000.00 



Accounts payable 11,84942 



Fixed surplus 865,734.01 



Profit and loss 752,403.44 



Total liabilities $3,694,986.87 



THE CANADIAN RUBBER CO. OF MONTREAL. 

 This statement is authorized by Mr. D. Lome McGibbon, 

 general manager of this company, that during the current year 

 no less a sum than $250,000 has been allocated by the directors 

 for the purpose of not only improving the present plant in the 

 way of additional machinery, etc., but in the erection of new 

 factories for the manufacture of certain lines of goods handled 

 at present in a restricted way, but for which there is believed 

 to be a great possibility in the Dominion. It is anticipated by 

 the management that the additions which have been planned 

 will increase the present producing capacity by at least 50 per 

 cent., and involve the employment of a large business force. It 

 may be mentioned that during 1904, more than $240,000 was 

 spent by the management on additions and improvements to 

 the factory. The factory was established more than 50 years 

 ago, and additions have been made from time to time until 

 now the various buildings cover more than 12 acres, 



AN UNUSUAL SUIT FOR DAMAGES. 

 A DAMAGE suit rather peculiar in its nature has been brought 

 against The Republic Rubber Co. (Youngstown, Ohio) by An- 

 drew X. Johnson, a railroad employe living at Two Harbors, 

 Minnesota. Previously Johnson had sued the Duluth and Iron 

 Range Railway Co. for $30,000, because of personal injuries al- 

 leged to have been received while testing rubber hose in the 

 macnine shops of that company. Johnson now brings a second 

 suit for damages, in the sum of $6250, against the alleged man- 

 ufacturers of the rubber hose, on the ground of its having less 

 strength than was claimed for it, and of his having no means 

 to determine this fact before undertaking the test. 



