380 



THE INDIA RUBBER WORLD 



[April 1, 1913. 



THE SEAItLESS COHFANY ISSUES STOCK. 



The Seamless Rubber Company, of New Haven, Conn., which 

 makes the Bragg stitched tire, has certified to an issue of 5,000 

 shares of its treasury stock. The issue makes the total out- 

 standing stock $1,000,000, of which one-half is common. 



PHESIDENT WORK'S ANNUAL REPORT. 



M the annual meeting of the B. F. Goodrich Co., held March 

 12, President B. G. Work read the following report : 



"Since the purchase of the Diamond Rubber Co., on April 1st, 

 1912, e.xcellcnt progress has been made in the unification of the 

 Goodrich and Diamond organizations and their plants, providing 

 thereby for great improvement in economy and a large increase 

 in capacity. 



"The report of the treasurer as certified by public accountants 

 shows the company to be in a strong financial condition. 



"As I pointed out in the published report, the bringing together 

 of two large organizations entails a great many readjustments, 

 the benefits of which do not appear immediately. It has been 

 the policy of your directors to place the company upon a sound 

 economical basis of operation as quickly as possible, and, while 

 this may have interfered with the showing of earnings for the 

 period, they feel that the best interests of the stockholders have 

 been conserved for the future. 



"The volume of business transacted during the nine months 

 was practically the same as that of our company combined with 

 that of the Diamond company for the corresponding period the 

 previous year. 



"It is unnecessary for me to comment on the disturbed labor 

 conditions which have existed among the rubber industries in 

 Akron during the past month, as you are all undoubtedly familiar 

 with them. 



"In reference to the future, I believe that it should be the 

 policy of this company to husband its resources and accumulate 

 a substantial surplus, and I shall not recommend to the directors 

 the payment of a dividend on the common stock for the current 

 period, nor until sucli substantial surplus over and above the 

 preferred dividend and amortization requirements shall have 

 been accumulated from the earnings." 



GOODRICH STATEMENT FOR NINE MONTHS. 

 The statement of The B. F. Goodrich Co., Akron, Ohio, for 

 the nine months ending December 31, 1912, shows net sales 

 amounting to over $37,000,000 ; with net earnings of over $3,500,- 

 000 and undivided profits for that period of a little over $800,000. 

 The detailed statement is given below : 



Income Account. 



Net sales nine months $37,533,861.00 



Expense 33,814,526.87 



Net profit 3.719.334.13 



Other income 571,844.51 



Total income 4.291.178.64 



Depreciation 440.851.73 



Interest on bills payable 327.837.92 



Net profit nine months 3,522.488.99 



Assets. 



Plants, good will, etc $70,685,721.89 



Investments other companies 1,635,957.93 



Twenty thousand five hundred and 

 eighty-seven shares preferred at cost. 2,227,117.03 



Inventory 16,226,639.63 



Trade accounts receivable 5,147.703.47 



Other accounts receivable 1,223.186.26 



Bills receivable 606.944.44 



Cash 803,224.60 



Prepaid accounts 229,618.98 



Total $98,786,114.26 



Ll.-\BILITIES. 



Common stock $60,000,000.00 



Preferred stock 30,000,000.00 



Bills payable 6,479,410.54 



Accounts payable 653,185,45 



Sundry 547,283.03 



Contingent reserve 300,000.00 



Nine months' profit $3,522,488.99 



Preferred dividend 1,519,505.75 



Common dividend 1,196,748.00 



Total dividend $2,716,253.75 



L lulivided profit 806,235.24 



Total $98,786,114.26 



THE MULCONROY COUPLING AND NIPPLE. 



'T'WO mcclianical devices extensively used by rubber manu- 



•*• facturers are the Mulconroy Coupling and Nipple, said 



to be original types. They are specially designed for high 



pressure steam, air and water and are described as very durable. 



The new features of the coupling are represented in the 

 smooth stem, rounded and tapered, permitting easy access 

 into the hose without injury to the tube, and a grooved lip 

 at the spud-end of the stem, which prevents loss of the 

 washer, a frequent cause of annoyance and lost time. The 

 improved clamps cover the exterior of the hose so com- 

 pletely that when they are tightened they do not injure the 

 hose cover itself. They are sufficiently long to cause such 



pressure at the end of the hose 

 or stem, so as to occasion no 

 injury. The projections over 

 the collar render it impossible 

 for the coupling to blow off, 

 irrespective of pressure. 



The new Mulconroy nipples 

 are made with a thread of 

 such size as to render the use 

 of reducers unnecessary. For 

 instance, J^-inch nipples are 

 made with either J^-inch, fl- 

 inch or J<-inch thread, and the 

 J-rJ-inch nipples with either J^- 

 inch, Vj-inch or 3/J-inch thread. Both couplings and nipples are 

 made from maileable iron and threads are standard iron pipe. 



HUBBEH WORKERS GET AN INCREASE. 



The A. & A. Rubber Co., Soutii Framingham, Massachusetts, 

 early in March posted a notice announcing a 5 per cent, increase 

 in the wages of all its employees, to take effect immediately. 

 Voluntary increases in the wage rate are great lubricators of 

 factory operations. 



