May I, 1902.] 



THE INDIA RUBBER WORLD 



261 



THE SAFETY INSULATED WIRE AND CABLE CO. 



THIS company, after having operated under a New York 

 charter since 1S88, was incorporated April 16, under 

 New Jersey laws, with $1,500,000 capital. The new cor- 

 poration has been formed under direction of a syndicate 

 organized by Zimmerman & Forshay, banlcers of New York, 

 to acquire all the property of the old company, at present man- 

 ufacturing in West Twenty-eighth street. New York, and to 

 provide increased facilities, and about $300,000 additional 

 working capital, for^the extension of the business. The success 

 of the original company had its inception in the perfecting of 

 machinery for the seamless covering of wires for electrical 

 purposes, with special rubber insulating compounds. In addi- 

 tion to making wires and cables for leading traction, electric 

 light, power, telegraph, and telephone companies, a subma- 

 rine cable department was added some three years ago, since 

 which time several hundreds of miles of ocean cables have 

 been made for the United States government in the Philip- 

 pines and elsewhere, and an important order is now being exe- 

 cuted for a foreign government. The present factory (embrac- 

 ing ten buildings 25X70 feet, rented), notwithstanding it has 

 been operated night and day for three years, has been unable 

 to meet the growing requirements of the company. Hence the 

 company. In 1899, purchased for $100,000 cash, 13 acres of water 

 front property at Bayonne, New Jersey, upon which the neces- 

 sary brick buildings have been erected for the accommodation 

 of the machinery now in the New York factory, the lease on 

 which expires May i, 1902. The two main buildings at Bay- 

 onne are two stories high and 500 feet long. The boiler house 

 (with 150 foot brick chimney) has a capacity of 1600 HP. 

 Sterling boilers. The engine now completed, of 500 HP., will 

 supply the main power, and additional engines for driving dy- 

 namos for the supply of light, and power to some of the ma- 

 chines, have been purchased. To meet the demands for deep 

 sea cable, armoring machinery of the latest design has been 

 constructed in England especially for the company. 



The treasurer of the old company, Leonard F. Requa, having 

 determined to retire from business, arrangements were made 

 with him for the purchase of the entire capital stock (2500 

 shares). He will, however, be a member of the board. B. M. 

 Whitlock, who had been president of the company, will remain 

 with the new corporation in charge of its afTairs, subscribing 

 for a substantial amount of its securities. The force of sales- 

 men, electricians, and foremen of the old company will be re- 

 tained. Of the authorized capital stock of $1,500,000, there 

 will be retained in the treasury for the present $500,000. One 

 million dollars of an authorized $1,250,000 first mortgage 6 per 

 cent, sinking fund gold bonds will be issued, the balance being 

 also left in the treasury, not to be used except to acquire addi- 

 tional property or for working capital. 



It is stated that the Safety Insulated Wire and Cable Co. have 

 made a net profit during every month of their existence. The 

 recent net earnings, after deductions for questionable accounts 

 and depreciation of plant, are stated to have been $133,355.99 

 in 1900 and $142,472.79 in 1901. The company was stated 

 recently to have unfilled contracts on its books amounting to 

 $1,352,000. 



The founder of The Safety Insulated Wire and Cable Co., 

 was Leonard F. Requa. It was his ambition to produce a wire 

 having an insulation composed of Para rubber compound which 

 could be applied to the electrical conductors in a seamless form. 



and, after experimenting for some eighteen months, he suc- 

 ceeded in accomplishing what he desired. The finished pro- 

 duct was first submitted to George G. Ward, of the Commer- 

 cial Cable Co., who saw at once the advantage of having a 

 seamless wire, and when the Safely company was organized, 

 Mr. Ward gave it the name which it now bears. Hector de 

 Castro, who was then president of the Commercial Cable Co., 

 became the first president-of the Safety company. He was suc- 

 ceeded by Horace K. Thurber, 



The Safety company was organized in 1888 with $15,000 bor- 

 rowed money, of which $7. 500 was contributed by Mr. Thurber, 

 and $7,500 by Henry E. Hawley, of the firm of Carter & Haw- 

 ley. At the time these gentlemen loaned the money, they 

 thought it was enough to lose if it was not a success, but should 

 it have the merit it was thought to have and more money was 

 required, they would willingly advance the same. Mr. Requa 

 was appointed general manager, and before $8,000 of the $l5,- 

 000 had been expended, he was enabled to show these gentle- 

 men that there was a small profit in the business, over and 

 above the expenses. 



The two first orders that were received by the Safety com- 

 pany were from the New York Telephone Co., one dated June 

 26, 1888, for five miles of No. 18 Brown & Sharpe gage insul- 

 ated wire, and this order was followed on June 29, 1888, for fifty 

 miles. The receiving of the second order convinced the gen- 

 tlemen connected with the company that there was merit in the 

 invention, and that the company would succeed. 



Soon after this, the telegraph wires in New York were ordered 

 underground by the then mayor, Hugh J. Grant, and the en- 

 gineers in charge of the electric lighting companies were con- 

 vinced that the process of applying the insulation to the con- 

 ductor in a seamless form was much safer for carrying their 

 high current than any other wire then manufactured, the result 

 being that the Safety company were taxed to the utmost capa- 

 city to fill orders for underground cable to take the place of 

 overhead wires. The company have been enlarging their plant 

 and increasing their machinery from that time to this, until it 

 has become the largest insulating wire company in the United 

 States, and compares very favorably with the older companies 

 in Europe. 



Mr. Requa has filled the different positions in the company 

 of general manager, vice president, treasurer, and president. 

 He gave the strictest attention to the business in all its de- 

 tails, and in the early years of the company frequently was at 

 his office until 12 o'clock at night. He was the manufacturer, 

 salesman, and collector until the business had assumed such 

 large proportions that he was obliged to gather a staff of sales- 

 men, and create departments for the different branches in the 

 electrical line. 



The government work department was placed under the 

 management of Ira W. Henry ; the telegraph and electric light 

 department in charge of Avery P. Eckert ; and the telephone 

 department in charge of Herbert T. Richards, who ably aided 

 Mr. Requa in the development of the business. The Safety 

 company are now shipping their product to all parts of the 

 United States and to different parts of the world, and during 

 the Spanish-American war came to the front and demon- 

 strated to the United States government that submarine cables 

 could be manufactured by them and be equally as good as any 

 that were manufactured in Europe. 



