April i, 1901.] 



THE INDIA RUBBER W^ORLD 



215 



charge of both the Chicago and San Francisco business, and 

 alternating between these two points. Mr. Mcllroy is well 

 acquainted with the rubber trade of the entire West, and will 

 no doubt be successful in his additional territory. 



NEW ENGLAND RUBBER CLUB. 



The annual meeting of the New England Rubber Club, 

 which conies April 15, will be called by the executive commit- 

 tee on that date and adjourned to May 3. the date of the spring 

 dinner, which, by the way, promises to be a notable affair, 

 brilliant speakers having been engaged and a most interesting 

 program provided. 



AMERICAN CHICLE CO. 



Under the amendments to the internal revenue law adopted 

 in the closing days of the last congress, the tax on chewing 

 gum of 4 cents on $1 packages will cease on July i next. The 

 immediate effect of this news was an advance in quotations of 

 American Chicle shares, on the idea that the removal of the 

 tax will result in a large saving to the company and a corre- 

 sponding increase in the net earnings. = = The company was 

 incorporated in New Jersey June 2, 1889. It is capitalized for 

 $9.000,000 — in 30,000 6 per cent, cumulative preference shares 

 and 60,000 common shares, all issued. There is no bonded 

 debt. The constituent companies are The Adams «& Sons Co. 

 (Brooklyn, N. Y.) ; Beenian Chemical Co. (Cleveland, Ohio) ; 

 Kisme Gum Co. (Louisville, Ky.) ; J. P. Primley (Chicago) ; W. 

 ). White (Cleveland, Ohio) ; Stephen T. Britton (Toronto, On- 

 tario.)The company is reported to control 85 per cent, of the 

 chewing gum production in the United States, and the annual 

 output is given as $3,200,000. On this basis revenue stamps to 

 the amount of $128,000 would be needed. Quarterly dividends 

 on the preferred shares have been paid regularly since October, 

 1899, the sixth dividend of 1% per cent, having been paid in 

 January last — a total of 9 per cent. During the same time divi- 

 dends on common stock were paid amounting to 13 per cent. 

 The manufacturers agreed not to offer stock until April i, 1901, 

 but private sales have been made. The common sold first at 

 60 and the preferred at 85. Lately common has been quoted at 

 90 and preferred at 8i. = = Imports of Chicle gum into the 

 United States during the seven months ending January 31 in 

 each year have been : 



iSgg. 1900, 1901. 



Pounds i,25i,2gi 1,425.665 1,441,500 



Value $190,096 $211,525 $334,517 



Value per pound 15. 2 cents. 14.9 cents. 23.2 cents. 



These values per pound are, of course, the invoice values at 

 the exporting points. In addition to charges, and importers' 

 profits, must be considered the import duty of 10 cents per 

 pound, so that recent quotations for Chicle in New York have 

 been in the neighborhood of 40 cents. 



After the above had been put in type a dividend was declared 

 of \% per cent, on the preferred and also of lyi per cent, on 

 the common stock, payable April 1. The last preceding divi- 

 dend on common had been 2^ per cent, and on account of the 

 declme in the rate the quotations on common stock dropped 

 to 78 bid, 83 asked. 



THE RUBBER SCRAP SITUATION. 

 The market has been without any special feature during the 

 month, prices being practically unchanged, though perhaps a 

 trifle lower. Dealers who can afford to buy for storage have 

 been adding to their holdings, regarding 7 to 7}i cents a low 

 price, while some others have been selling in order to avoid 

 becoming overstocked. The importation of scrap has declined 

 very materially. The average at New York during a recent 

 twelvemonths was 1.202,600 pounds ; for January the figures 

 were 889,302 pounds and for February only 341,361 pounds. A 



prominent operator informs The India Rubber World that 

 he is now selling in Germany 200 tons of foreign rubber scrap 

 at about the price in New York for domestic scrap — a condi- 

 tion which naturally discourages importation here, and lessens 

 any hope that imported scrap will soon serve to still further 

 reduce prices of domestic stock. 



MISHAWAKA WOOLEN MANUFACTURING CO. 

 An additional building has been erected for the rubber de- 

 partment, which was occupied by a portion of the force em- 

 ployed in this department early in the past month— ^^The 

 newspapers recently reported a fire in the Mishawaka factoiy, 

 but Mr. E. A. Saunders informs The India Rubber World 

 that the only damage done was by water, with which the 

 sprinkler system in use promptly flooded the room where some 

 benzine and cement were accidenily ignited with a match. 



UNITED STATES RUBBER CO. 



The following is a record of transactions in the shares of 

 this company, on the New York Stock Exchange, during two 

 months past : 



NEW INCORPORATIONS. 



New Era Automobile and Rubber Co., February 26, under 

 Maine laws; capital, $1,000,000. William Halkyard, president ; 

 W. G. Kendall, 'reasurer— both of Providence, Rhode Island. 



= The Tougas Machine Co. (Brockton, Massachusetts), un- 

 der West Virginia laws; capital, $200,000. To manufacture a 

 new machine for cutting rubber soles on a bevel, patented by 

 the Tougas brothers. John B. Tougas, of Worcester, is presi- 

 dent ; George S. Tougas, of the Brockton Die Co., vice presi- 

 dent ; John C. Frederick, secretary ; Joseph O. Tougas, treas- 

 urer. It is intended not to sell the machines, but to permit 

 their use on a royalty basis. 



= Nonpareil Manufacturing Co., March i, under Maine laws, 

 to deal in rubber and leather goods ; capital, $25,000. Presi- 

 dent: Franklin G. Saylor, Franklin, Mass. Treasurer: Wal- 

 ter Thurber, Providence, R. I. 



= The A. C. Gibson Co. (Buffalo, New York), February 21, 

 under New York laws, to carry on the rubber stamp business 

 formerly conductea by the late Alexander C. Gibson ; capital, 

 S7650. Incorporators : Ada S. Gibson, C. C. Gibson, Edward 

 D. Gibson. 



=The Consumers' Rubber Co. (Cleveland, Ohio), March 15, 

 under Ohio laws, to conduct a general wholesale and retail 

 business in rubber goods and mill supplies; capital, $25,000. 

 Incorporators: S. R. Driffield, B. E. Frazier, Charles L. 

 Schwartz, E. W. Briggs, W. W. Elliott. The business has been 

 conducted hitherto as a partnership. 



= The Mahoning Rubber Manufacturing Co. (Youngstown, 

 Ohio), February 28, under Ohio laws ; capital, $400,000. Incor- 

 porators : Henry K. Wick, W. Scott Bonnell, H. Lincoln Row- 

 land, John Tod, John S. McClurg. Further particulars appear 

 in another column. 



=Combination Rubber and Belting Co., March 7, under New 

 Jersey laws, to manufacture rubber goods ; capital, $350,000. 



