March i, 1903.] 



THE INDIA RUBBER V/ORLD 



205 



NEWS OF THE AMERICAN RUBBER TRADE. 



people's hard rubber CO. (AKRON, OHIO.) 



AT a special meeting of shareholders of the People's Hard 

 Rubber Co., on February 2, the action of the directors 

 in causing an assignment to be made [reported in the 

 last India Rubber World] was ratified by the holders 

 of a majority of the stock. Later, on the same day, a petition 

 was filed in the common pleas court, asking that this ratifica- 

 tion be set aside, and praying for damages in the sum of $200,- 

 000. There are several plaintiffs, residing in Akrcm and else- 

 where, and representing about 125 shares of capital. The de- 

 fendants are the present directors of the People's company. 

 On February 2, also, exceptions to the inventory filed in the 

 probate court following the assignment, were filed by Musser 

 & Kohler, attorneys for the minority shareholders. It was set 

 forth that the real estate was appraised at too low a rate, and 

 that no value was placed upon trade marks or secret processes, 

 the shortage in the aggregate valuation being claimed to be 

 $130,649.77. It was asked that the appraisal be set aside. The 

 hearing of the exceptions was begun before Judge Pardee on 

 February 23, with the expectation that several days would be 

 consumed. Meanwhile the People's plant remains idle. 



REPUBLIC RUBBER CO. (> OUNGSTOWN, OHIO.) 

 At the annual meeting of the directors on February 9, Presi- 

 dent Henry K. Wick declined reelection on account of the 

 pressure of other business matters. The officers chosen were: 



President — Warner Arms. 

 Vice Preiident—C H. BOOTH. 



Secretary and Treastirer — JOHN ToD. ' 



Superintendent and Genetal Manager — John S. McClurg. 



The board includes — besides Messrs. Arms, Booth, and Tod 

 — H. K Wick, John C. Wick, George Tod, H. M. Robinson, 

 and A. E. Adams. A favorable condition of business is re- 

 ported, there being enough orders in hand to keep the factory 

 well employed. 



SWEET TIRE AND RUBBER CO. CBATAVIA, N. Y. ) 

 At a stockholders meeting on February 13 it was voted to in- 

 crease the capital from $80,000 to $90,000, and the additional 

 issue was subscribed for by those present. It was reported at 

 that time that the factory would probably be ready for opera- 

 tion by the end of the month. 



NATIONAL INDIA RUBBER CO. 

 The third annual banquet by the company to their employes 

 occurred at the De Wolf Inn (Bristol, Rhode Island), on the 

 evening of February 14. The interior of the inn had been 

 specially decorared. There were about 70 guests. The menu 

 was printed upon miniature rubber coats, made at the National 

 ompany's factory. Manager H. H.Shepard was toastmaster. 

 Treasurer W. De F. Brown, giving some account of the business 

 of the company, said that in 1900 the payroll amounted to 

 $295,000, and in 1902 to $355,000 — an increase of $60,000.="= 

 The factory was visited on February 16 by two official repre- 

 sentatives of the state of Amazonas (Brazil) — Senhor Porfirio 

 Nogueira, secretary of state, and Senhor Eneas Martins, late 

 inspector of the treasury — who are in the United States on a 

 financial mission for the government at Manaos. After the 

 factory had been inspected, the Brazilians were entertained at 

 dinner at the home of President Samuel P. Colt, together with 

 several other officers of the National company and the United 

 States Rubber Co.=-=It is stated that the National India Rub- 



ber Co. began the month of February with all departments of the 

 factory busy and in need of more help. There were 1385 names 

 on the payroll — only 18 less than the greatest number in the 

 long history of the factory. The National company were re- 

 ported lately to be making 625 cases of tennis goods daily. 

 The export of these goods is now becoming important. 



MISHAWAKA WOOLEN MANUFACTURING CO. 

 The sole agency lor New England for the " Ball Band " rub- 

 ber shoes manufactured by the Mishawaka Woolen Manufact- 

 uring Co. (Mishawaka, Indiana) is now held by Dunham Broth- 

 ers, shoe wholesalers and retailers, of Brattleboro, Vermont. 

 This firm hold an annual "school of instruction" for their 

 salesmen, which occurred this year on January 29 and 30. It 

 was attended for the fourth successive year by President M. V. 

 Beiger, of the Mishawaka company. On the eveningof January 

 30 was given the annual banquet tendered by the Messrs. Dun- 

 ham to all their employes. In an address to the guests Mr. 

 Beiger gave the following figures illustrating the growth of the 

 Mishawaka company — manufacturers of felt boots, and, since 

 1899, of rubber shoes, for use in " Combination " goods. Be- 

 ginning in 1889 the sales were $65,000; in 1S90, $269,000; 1891, 

 $270,000; 1892. $317,000 ; 1893, $385,000; 1894, $390,000 ; 1895, 

 $514,000; 1896, $605,000; 1897, $709,000; 1898, $1,382,000; 

 1899. 1,907,000; 1900. $2,828,000; 1901, $3,027,000; 1902, $4,- 

 048,000. 



STANDARD UNDERGROUND CABLE CO. 



The annual meeting was held at Pittsburgh on January 29. 

 The earnings of last year amounted to $3,984,531, an increase 

 of $664,000 over the year before, and the greatest in the history 

 of the company. The surplus, $265,564 at the beginning of 

 1901, has been swelled to $760,350. Meanwhile the company 

 have made large additions to their plants, part of which were 

 paid for by a new stock issue. During 1902 the company paid 

 four quarterly dividends of 2 per cent, and one extra dividend 

 of 2 per cent. The consumption during the year included 

 8.200,000 pounds of copper wire and 18.126,000 pounds of lead. 

 The new copper rod and wire mills at Perth Amboy, New Jer- 

 sey — 300 X 180 feet, a portion being three stories and basement 

 in height — will hereafter produce from copper bars the wire 

 used by the company in the manufacture of cables and insu- 

 lated wire, and some will go on the market. The rubber insu- 

 lation work of the company is now done at Perth Amboy. 



ELECTRICAL CONSOLIDATION. 

 On February 12 was announced the transfer of the Stanley 

 Electric Manufacturing Co. (Pittsfield, Massachusetts) to a 

 syndicate of capitalists affiliated with the Several Electric Co. 

 The latter company, incorporated in 1892, was the result of 

 consolidating important electrical manufacturing interests, on 

 what was then a gigantic scale of capitalization. Later the 

 capital was greatly reduced, through writing off large patent 

 accounts, etc., after which it was again increased. The out- 

 standing capital is now $41,880,153, with bonds amounting to 

 $2,148,490. The company manufacture a wide variety of elec- 

 trical equipment, at Schenectady, New York, and Lynn, Massa- 

 chusetts, and have at the former place an extensive plant for 

 insulated wire and cables. Their $100 shares, listed on the New 

 York Stock Exchange, have sold since January i, 1903, at from 

 183 to 202X. The Stanley company, now absorbed, have made 

 a specialty of heavy long distance electric railway systems, em- 



