62 



THE INDIA RUBBER WORLD 



[November i, 1902. 



ers, who are large holders of the company's obligations. Just 

 when the reorganization committee will have plans completed 

 for the adjustment of the company's afTairs is reported to be un- 

 certain. It is stated that the order of the court permitting the 

 issuance of certificates to the amount of $500,000 against the 

 stocks of the International Motor Car Co. and the Federal 

 Manufacturing Co., which are owned by the American Bicycle 

 Co., will put the affairs of those concerns in a much stronger 

 position. It is said that the entire $500,000 has been subscribed. 

 It is intimated that the American Cycle Manufacturing Co., 

 which is also controlled by the American Bicycle Co., and is in 

 the hands of receivers, will seek to improve its finances by 

 asking the court for permission to issue some sort of certifi- 

 cates. 



IOWA RUBBER CO. (DAVI-NPORT, IOWa). 

 This company have filed amended articles of incorporation 

 with reference to the shares of capital stock. Formerly their 

 capital of $300,000 was divided into 10,000 shares of $30 each. 

 Under the change the total number of shares is 1000, of $300 

 each. Frank M. Hanna is president; Fred W. Noel, vice 

 president; and S. H. Noel, secretary and treasurer. 



NEW YORK STOCK EXCHANGE QUOTATIONS. 

 United States Rubber Co. : 



Rubber Gooi-; Minufactunng Co.: 



DATES. 



Week ending Sep. 20 

 Week ending Sep. 27 

 Week ending Oct. 4 

 Week ending Oct. 11 

 Week ending Oct. iS 

 Week ending Oct. 25 



Prefhrred. 



Sales. High Low 



2,780 

 160 

 100 

 100 

 500 



2,780 



72 



71 



68^ 



69 



71 



73 



68 J^ 



71 



68 5< 



69 

 69 



7lJ^ 



PEQUANOC RUBBER CO. (BUTLER, N. J,) 

 The Pequanoc Rubber Co. have increased their capital 

 stock from $60,000 to $120,000, and are planning several addi- 

 tions to their plant, having been obliged for some time past to 

 work their factory night and day in order to keep pace with 

 their orders. They have developed a splendid reputation for 

 a high grade reclaimed rubber made by a purely mechanical 

 process, perfected on new lines, the product of which is win- 

 ning great confidence in the rubber trade. It is unusually 

 clean and free from metals, adulterants, acids, or alkalies, and 

 the fiber is as cleanly removed by the mechanical process as 

 by any chemical process. Mr. Joseph F. McLean, president 

 and manager of the company, has developed a large acquaint- 

 ance with the rubber trade throughout the country, having 

 been in the rubber business all his life, and he has brought to 

 the reclaiming business a practical knowledge of how the pro- 

 duct is used in the diflterent branches of the rubber industry, 

 and thus been aided in developing a standard of product for 

 the Pequanoc company that is appreciated by the trade. 



A RUBBER SUIT DISMISSED. 

 The bill in equity brought by Charles R. Flint, of New York, 

 against the Boston Woven Hose and Rubber Co. et. al. of Bos- 

 ton, to enforce against Theodore A. Dodge and others, as pres- 

 ident and directors of that company, the liability imposed by 



the Massachusetts revised laws. Chapter CX, section 58, to pay 

 an unsatisfied judgment of $22,503 held by the plaintifT against 

 the corporation, upon the ground that its debts exceeded its 

 capital stock, was dismissed in the superior court at Boston on 

 October 23, demurrers filed by the defendants having been sus- 

 tained. The plaintiff, it is decided, cannot maintain his bill be- 

 cause it did not appear that the excess of the corporation's 

 debts over its capital stock was on Sept. 30, 1899, when he be- 

 gan his suit, in which he got judgment, as the statute requires. 

 He alleged that, on June 16, 1898, when the company made an 

 assignment for the benefit of its creditors, its direct liabilities 

 were $1,160,000, and its indirect liabilities were $350,000, while 

 its capital stock was only $900,000. Subsequently, by the pay- 

 ment of dividends by the assignees to those creditors who as- 

 sented to it, the company's debts, he alleged, had become re- 

 duced to less than the amount of the capital stock. 

 NEW INCORPORATIONS. 



International Rubber Manufacturing Co. (Jersey City, 

 N. J.), September 29, under New Jersey laws, to manufacture 

 mechanical rubber goods ; capital, $100,000. Incorporators: 

 Berthold Loewenthal, Edward D. Loewenthal, Wesley T. 

 Snowden. Further details are given in another column. 



=The Lyon Rubber Co, (Akron, Ohio), October i, under 

 Delaware laws ; capital, $10,000. This company has been en- 

 gaged, for some months past, in the manufacture of rubber 

 gloves, nipples, ice bags, and the like. 



= Hanover Rubber Co., October 15, under New York laws; 

 capital, $4000. Incorporators: Thomas F.Stevenson and T. S. 

 Corey, of Brooklyn, and G. R. Shepard, of New York. The 

 object is the proofing of cloth for the mackintosh trade, and 

 machinery is now being secured for a plant to be erected in 

 Brooklyn. The new company hope to be able to handle wider 

 goods than any now on the market. 



= Superior Rubber and Manufacturing Co., October 21, 

 under New Jersey laws ; capital, $150,000. Incorporators : C. V. 

 Childs, S. Bloomfield, and H. N. Smith. Registered office : 

 No. 525 Main street, East Orange, New Jersey. The company 

 will manufacture rubber sundries and molded goods at Cuya- 

 hoga Falls, near Akron, Ohio, and several Akron parties are 

 interested. 



=The India Rubber World has a letter from Chicago stat- 

 ing : "Noting the item in your number of October i, in which it 

 is stated, referring to the incorporation of the Empire Rubber 

 Manufacturing Co., Chicago, under the Illinois laws, that such 

 company was to coverthe business in Illinois of the New Jersey 

 corporation of the same name, I will ask you to please correct 

 said statement. The Illinois company has no connection what- 

 ever with the New Jersey company." An inquiry for more de- 

 tails regarding the new company brought the response : " The 

 incorporators of the Empire Rubber Manufacturing Co. do not 

 care to give out any information regarding their business. A 

 little later on they will be pleased to accede to your request." 



TRADE NEWS NOTES. 



The Single Tube Automobile and Bicycle Tire Co. are 

 proceeding against the Lake Shore Rubber Co. (Erie, Pennsyl- 

 vania) for infringement of the Tillinghast tire patent. Their 

 bill of complaint was filed July 30 last, in the United States cir- 

 cuit court for the western district of Pennsylvania. 



=C. C. Sigler. formerly a rubber manufacturer in Cleveland, 

 Ohio, as Sipe & Sigler, making hard-rubber battery jars for the 

 Willard storage battery, has entered the wholesale jewelry busi- 

 ness at Akron. Mr. Sigler was formerly in this business before 

 he took up the rubber manufacture. Several disastrous fires 

 in the factory were the main cause of his leaving the latter. 



