January i. iio.] 



THE INDIA RUBBER WORLD 



147 



News of the American Rubber Trade. 



SHAREHOLDERS of the Revere Rubber Co. (Boston) lately 

 received circulars offering $200 for their stock, to be de- 

 posited with the Safe Deposit and Trust Co., and the First 

 National Bank of New York, on or before December 24. It was 

 soon reported that a majority of the holders had assented to the 

 proposition, which was made with a view to merger with the 

 Rubber Goods Manufacturing Co. The lalter are understood 

 to have experienced a shortage of plant capacity. Through the 

 control of the Rubber Goods Manufacturing Co. by the United 

 States Rubber Co., the latter will thus succeed to the ownership 

 of the Revere Rubber Co. 



The Revere company are capitalized at $2,000,000, in $100 

 shares, with approximately 300 holders. Recently shares were 

 reported to have changed hands at $195. For some years 8 per 

 ■cent, dividends have been paid. No authorized public statement 

 has come out as yet, but it is understood that the intention of all 

 concerned that the Revere company is to keep its individuality, 

 as has been the case with other important factories acquired by 

 the United States Rubber Co. 



The result of the annual election of the Revere Rubber Co., to 

 be held on January 12. is looked forward to with interest. At 

 present the directorate embraces Costello C. Converse (presi- 

 dent), E. S. Williams (treasurer and clerk), H. M. Rogers, E. 

 S. Grew. Henry C. Morse, I. W. Chick, and F. W. Pitcher. 



The Revere Rubber Co. succeeded the Boston Elastic Fabric 

 Co., which was organized in 1863 under the presidency of Liveras 

 Hull, to whom a large part of the first share capital was issued 

 in respect of some patents of his. In February, 1864, the com- 

 pany bought a brick factory at Chelsea, Massachusetts. Three 

 years later the company took on the manufacture of mechanical 

 rubber goods, after having elected to the presidency Charles Mc- 

 Burney, who had been with the Boston Belting Co. There were 

 various changes in the board, and in 1883 the reorganization of 

 the business, since which time it has been continuously successful. 

 It may be mentioned that Mr. Henry C. Morse, still on the board 

 and so long known as the efficient treasurer, first became a 

 director 29 years ago. 



UNITED STATES ItUBBER CO.— INCREASE OF CAPITAL. 



The shareholders of the United States Rubber Co. have 

 received a circular dated December 23 inviting subscriptions to 

 37.370 shares ($3,737,000) of the first preferred stock of the 

 company, now in the treasury, to be distributed proportionately 

 with the present holdings of the subscribers, at the price of $110 

 per share, the privilege being open until February I. The direc- 

 tors also purpose selling to a syndicate (including among its 

 participants President Samuel P. Colt and some other directors) 

 $2,500,000 of the first mortgage bonds of the company, and at 

 the option of the company on or before December 20, 1910, to sell 

 to the syndicate $2,500,000 additional in bonds, all at par. The 

 syndicate agree in the meantime to lend to the company $2,500,000 

 upon the pledge of the second lot of bonds, and also to take at 

 $110 per share any of the preferred stock which under the offer 

 already mentioned may not be taken by the shareholders. The 

 bonds referred to are a part of the $20,000,000 issue of December, 

 1908, of which thus far only $15,000,000 have been allotted. The 

 directors of the company in announcing the new issue say : 



"The increase, as well as the extension of the business of the 

 United States Rubber Co., including the acquisition of properties 

 deemed advisable and advantageous for the company, during the 

 year 1009, has been such as to require from its officers attentive 

 consideration of its steadily increasing cash requirements, espe- 

 cially in view of the unprecedented rise in the price of crude 

 rubber and the corresponding increase in the amount of cash 



locked up in materials and in the manufactured stock awaiting 

 sale. This condition has been brought before the directors, who 

 are of opinion that these needs should be met by permanent pro- 

 vision, and not by short time loans or discounts." 



REMOVAL OF GEORGE BORGFELDT & CO. 



The importing house of George Borgfeldt & Co. (New York) 

 have removed from the premises long occupied by them in West 

 Fourth street to the large new building which they constructed 

 recently at Sixteenth street and Irving place. The removal oc- 

 curred on Saturday afternoon, December 4, and on Monday morn- 

 ing at 8 o'clock the employees took up their duties in the new 

 building, without confusion or disorder. There were ten floors in 

 the old building, each a block long, from which thousands of 

 samples had to be checked and packed, but every article was in 

 its proper place in the new building at the opening of the next 

 business day. Besides, an office force of 500 persons was as 

 promptly placed, with their desks and other fixtures. Although 

 unofficially Messrs. Borgfeldt & Co. were fully established in 

 their new headquarters as stated, the official day for visitors will 

 remain as originally planned, January 3, as by that time the new 

 samples now arriving from Europe will be opened up. 



BOSTON BELTING CCS NEW BUILDING. 



The Boston Belting Co., during the past year, have added a 

 new factory building to their extensive plant at Roxbury Cross- 

 ing, in Boston, and now have it in full operation. A piece of 

 land directly across a private way from the main plant was 

 purchased ; the old building situated on it torn down or removed, 

 and a new building, 105x64 feet, erected thereon. It is of brick, 

 four stories high, and of slow burning mill construction, built 

 in accordance with the best ideas of modern mill design. It is 

 used exclusively for the cotton weaving and braiding departments 

 which the company have developed of late years. The walls are 

 built with narrow thick pilasters, permitting wide windows which 

 extend up to the under side of the floors, thus insuring an abund- 

 ance of sky light so essential to a textile factory. The lower 

 floor is of concrete, but the other floors are of plank four inches 

 thick. A large hydraulic plunger elevator with a 9-foot square 

 platform, situated near the center of the building, serves all 

 departments. Power is furnished by a Westinghouse gas engine, 

 whose cylinder jackets are made use of for heating the wash 

 water for the mill. Steam for heating is supplied from the 



Boston Belting Co.'s New Buildinc 



