January i, 1903.] 



THE INDIA RUBBER WORLD 



137 



patent being held invalid in one appellate circuit and valid in 

 another, in which event the United Stales supreme court would 

 be obliged to give a hearing to the matter if called upon to do 

 so. As the matter stands, the assailants of the patent hold a 

 decision from the highest court that has pronounced judgment, 

 and any further step will have to be taken by the patties ad- 

 versely affected by that decision, who are the Consolidated 

 Rubber Tire Co. They have given no public intimation of 

 what their further course may be. 



NEW YORK STOCK EXCHANGE dUOTATIONS. 

 United States Rubber Co. : 



Rubber Goods Manufacturing Co.: 



DATES. 



Week ending Nov. 22 

 Week ending Nov. 2q 

 Week ending Dec. 6 

 Week ending Dec. 13 

 Week ending Dec. 20 



Preferred. 



Sales. I High 



800 



430 



355 

 450 

 967 



72}^ 



72 

 71 



703^ 

 70 



71 



70?3' 



63 

 69K 



NEW ENGLAND RUBBER CLUB. 

 The club is now cert.iin of a place in the World's Hall of 

 Fame, for Frank E. Buttolph. who created the famous Buttolph 

 collection of menus at the New York Public Library, writes 

 asking for two vienus of the club's recent Thanksgiving dinner, 

 saying : " It is very novel, and certainly unlike anything I pos- 

 sess, though variety is a distinguishing feature of my large 

 library collection. I would greatly like to send one to the 

 British Museum in London and keep the other here." 



RUBBER TRADE ON THE PACIFIC COAST. 

 The Gorham Rubber Co. (San Francisco, California) are now 

 occupying one of the finest office and warehouse buildings in 

 the city. With the new lines that they take up on January 

 1st they will occupy four fl jors each 40 X 137 feet. The San 

 Francisco store and the branch at Seattle, employ some twenty 

 men, the latest addition to the force being Mr. F. G. Sargent 

 who for many years past has been with the Goodyear Rubber 

 Co., of San Francisco. 



CHEWING-GUM INDUSTRY AT PITTSBURGH. 

 A CHEWING GUM manufactory, independent of the American 

 Chicle Co., is in operation at Pittsburgh, Pennsylvaria, in addi- 

 tion to the one at San Francisco, mentioned in this paper last 

 month. It is that of The Chuddy Manufacturing Co., started 

 under private ownership in 1889 and incorporated under Penn- 

 sy'vania laws in 190T. The f ffi^ers are Charles H. Humbert 

 president; William K. McGinncss, treasurer; and Frank W. 

 Smith, secretary. The address is No. 3 Barker place. 



THE L. CANDEE & CO. (NEW HAVEN). 

 The factory of this company was reported recently to have 

 1700 names on the pay roll, and to be in need of more experi- 

 enced rubber workers than could be found. The orders re- 

 ceived during the month past had exceeded by 50 per cent, the 

 capacity of the factory. A similar condition is reported from 

 other factories. The weather of late has stimulated the buying 

 of rubber boots and shoes, besides which dealers in many sec- 

 tions had begun the season without left over goods. The num- 



ber of orders on hand at the various factories insures plenty of 

 work for several months to come. 



AMERICAN BELTING CC (YOUNGSTOWN, OHIo). 

 J. Edwin Davis has retired from the Republic Rubber Co., 

 to devote his entire time to the American Belting Co., incor- 

 porated May 23, 1901, with $50,000 capital, to manufacture can- 

 vas stitched belting. Mr. Davis is president of the company 

 and William W. Hunter, who has been with the company from 

 the beginning, is treasurer and manager. The company's busi- 

 ness in stitched belting is now double what was originally 

 planned, and the capital will be increased with a view to add- 

 ing a rubber molded goods department. 



AMERICAN BICYCLE CO. REORGANIZATION. 

 Notice has been given that the reorganization committee of 

 the above company — now in the hands of receivers — represent- 

 ing large amounts of its debentures and preferred and common 

 stock, have adopted a plan and agreement of reorganization 

 which is filed with the Central Trust Co. of New York, at Nc. 

 54 Wall street. The holders of the company's securities are 

 invited to deposit the same with the Trust company not later 

 than January 7, 1903. in exchange for negotiable receipts. 

 When, in the judgment of the committee, a sufficient amount 

 of securities shall have been deposited, the plan will be declared 

 effective. Upon the purchase of the properties of the Ameri- 

 can Bicycle Co. by the committee, under the provision of the 

 agreement, a new company is to be organized to acquire such 

 property, which will authorize the issue of $2,500,000 in 6 per 

 cent, cumulative first preferred stock ; $10,000,000 in non cumu- 

 lative 6 per cent, preferred stock ; and $10,000,000 in common' 

 stock. Holders of the present 5 per cent, debentures are to 

 receive 100 per cent, in new second preferred stock ; holdersof 

 present preferred stock to receive, on payment of $9 per share, 

 $9 in new first preferred stock and $50 in new common stock; 

 holders of present common stock to receive, on payment of $9 

 per share, $9 in new first preferred stock and $25 in new com- 

 mon stock. The present capital and debentures of the com- 

 pany amount to $36 146,400, requiring annually for interest, 

 preferred dividend, and sinking fund 11,358,143. Under the 

 proposed reorganization there will be a capital of $22,500,000 

 with a requirement of $750,000 for preferred dividend instead 

 of the old annual charge of $1,358,143. The proposed pay- 

 ments by stockholders would yield $2,428,676 in cash, which 

 would provide for the outstanding debts of the company and 

 of the constituent corporations, and leave more ample working 

 capital than the company have had hitherto. It is stated that 

 Colonel Albert A. Pope, who is a larger holder of the com- 

 pany's bonds than any other individual, is in favor of the 

 adoption of the reorganization plan, but that the plan will be 

 strongly opposed. There has been a widespread feeling ■ 

 that Colonel Pope will be chosen as the head of such company 

 as ultimately may be formed to succeed the present American 

 Bicycle Co. = = The table which follows is a record of transac- 

 tions on the New York Stock Exchange in the company's se- 

 curities for several weeks past: 



DATES. 



Week ending Nov. 8 

 Week ending Nov. 15 

 Week ending Nov, 22 

 Week ending Nov. 29 

 Week ending Dec. 6 

 Week ending Dec, 13 

 Week ending Dec. 20 

 Week ending Dec. 27 



