196 



THE INDIA RUBBER WORLD 



[JaiNuarv 1. 1914. 



STATEMENT OF THE BOSTON BELTING CO. 



.-\ condensed snmniary of the balance .-ihcct of tlic Boston 

 Melting Co.. as of September 30 last, is as follows: 



Li.\BlLITIES. 



Capital Stock $1,000,000(10 



Reserve Fund .SOO.OOO.OO 



Profit and Loss 129,166.17 



Notes Payable 351,000.00 



Unsettled Bills 1,974.55 



.VSSET.S. 



Real Estate (Land and Buildings)... $329,711.85 



Machinery 271 .286.81 



Tools, Furniture and Fixtures 102.122.91 



Water Privilege 150,000.00 



Cash 102,149.47 



Bonds Receivable; Notes Receivable 1 _ ._ . 



Investment .-Vcc't ; Accounts '■ J '^-'■'°^-'-' 



Merchandise 580,734.93 



Trade Marks 100.00 



Sundries 50.00 



$2,282,140.72 $2,282,140.72 

 The statement shows : 



Quick Assets $1,428,869.15 



Debts 352,974.55 



Excess of Quick Assets $1,075,894.60 



SUBSCRIPTIONS TO THE NEW UNITED STATES RUBBER PREFERRED 



STOCK. 



On X^ovember 6 a circular was sent out by the United States 

 Rubber Co. to its stockholders announcing a new issue of tirst 

 preferred 8 per cent, stock to the amount of $9,422,000, each 

 stockholder being offered the privilege of subscribing for one 

 share of the new stock for every ten of either preferred or 

 common then held. 



The time limit of this subscription offer expired on December 

 15, and on the following day the company issued the statement 

 given below : 



■'The amount of subscriptions received from our stockholders 

 under the company's offering of its lirst preferred stock, with 

 a few from abroad to be added, is $1,715,700. Considering that 

 general financial conditions have not been propitious to the 

 placing of securities of any kind, the subscriptions are as much 

 as has recently been anticipated. 



"In making the offering, the directors intended, as was stated 

 in their circular, after first giving our own stockholders and 

 none others the privilege of subscribing at par, to place the un- 

 subscribed portion in position to be disposed of to the public 

 above par when times improve ; the strong financial condition of 

 the company making it inexpedient to offer the unsubscribed 

 stock outside until general linancial conditions are more favor- 

 able than at present. The imtaken stock will not be disposed of 

 to the public except at a figure substantially above par. Mean- 

 while, as a result of the above, the company has ne;irly $2,000,000 

 additional permanent working capital.'' 



RUBBER COMPANY DIVIDENDS. 



On December 3 the directors of the Rubber ("loods Manufactur- 

 ing Co. declared the fifty-ninth regular quarterly dividend of 1^4 

 per cent, on the preferred stock and a dividend of 1 per cent, on 

 the common stock — both payable Decemlicr 15, 1913, to stock- 

 holders of record at the close of business on December 10. 



The Batavia Rubber Co. has declared a regular quarterly divi- 

 dend of 1^ per cent, on its preferred stock and of 1 per cent, 

 on its common stock, with an extra dividend of 14 per cent, on 

 the common — payable January 1 on stock of record on Decem- 

 ber 15. 



TRADE NEWS NOTES, 



The Southern Tire & Rubber Co., incorporated in December, 

 1912, under the laws of Florida, has arranged for the erection 

 of a factory at Augusta, Georgia, for the manufacture of auto- 

 mobile tires. The new building is to be 52 x 100 feet, on a site 

 in the vicinity of the Armour Fertilizer Works, two acres of 

 laud on the Central Railroad having been purchased by the 

 company for this purpose. The present expectation is to com- 

 mence production by early spring. 



.\ factory is being erected at Ecorse, Michi.gan. by the 

 Williamson Pneumatic Tire Co. 



Long Island City is soon to have a new tire manufacturing 

 industry, a site for a factory for the production of automobile 

 tires having recently been purchased in that city by the Akron 

 Tire Co. The property covered by this purchase is located on 

 the south side of Skillman avenue, between Honeywell avenue 

 and Moore street, and comprises approximately 17.500 square 

 feet. 



Work has been practically completed on the brick addition 

 to the plant of the Fairfield Rubber Co., at Fairfield, Connecticut. 



The Hewitt Rubber Co. of Buffalo, New York, is erecting a 

 power house at its plant located at Kensington avenue and the 

 New York Central Railroad, and a large amount of equipment 

 will be installed, the estimated cost of the improvements being 

 $61,000. 



The Askani Ruliber Co. has completed installation of the 

 rubber reclaiming machinery required in its factory on North 

 street, INIilford, Connecticut. 



The creditors of the Ennis Rubber Manufacturing Co., of 

 Xew York, are to receive 3]4 per cent, in settlement of their 

 claims, a "first and final" dividend of this amount having 

 recently been ordered paid. 



The Hardright Brush Co., of Belleville, New Jersey — manu- 

 facturing brushes with rubber bristle setting and other patented 

 and distinctive features — has adopted the trade-mark brand 

 "Hardright" for its specialty, the use of the brand "Rubber-Vulc" 

 and of the corpor.ite name "The Rubber Bound Brush Co." hav- 

 ing been refused by New Jersey State courts. 



The capital stock of the Vulcan Rubber Co., of Erie, Penn- 

 sylvania, has been increased from $100,000 to $200,000. 



The Dreadnaught Tire & Rubber Co. is to open its new tire 

 manufacturing plant at Orangeville, Maryland, on January 1, 

 with a force of 200 workmen. This company was incorporated 

 in February, 1913, with a capital stock of $1,000,000. 



The Goodyear Tire & Rubber Co. of Akron has taken over 

 the Standard Tire Protector Co. of that city and will hereafter 

 distribute Standard Tire Protectors to the trade through its 

 various branches. 



According to the statement of the Swinehart Tire & Rubber 

 Co., of Akron, filed in Boston, the assets of the company on 

 .August 31 amounted to $1,325,616, including cash and accounts 

 receivable, $435,503 ; manufactured products and merchandise, 

 $561,519; real estate valued at $90,242, and machinery valued at 

 $165,955. The liabilities of the company are shown to include 

 capital stock outstanding, $800,000; accounts payable, $441,717, 

 and a profit and loss account of $73,392. 



The Coluirib Tyres Import Co., incorporated in New York in 

 September, and located at 1891 Broadway, succeeds the concern 

 known as the Russian Tyre Sales Co., whose headquarWrs are 

 at Riga, Russia. 



The new service station of the B. F. Goodrich Co.. at 1780 

 Broadway, New York, will be devoted exclusively to motor 

 truck tires. The quarters occupied by the company at this 

 address comprise about 20,000 feet of floor space, used for 

 garage, shop and stock carrying purposes, the shop being located 

 on the ground floor. 



