318 



THE INDIA RUBBER WORLD 



[June i, 1910. 



It may be noted that Mr. Deshler has served already upon 

 the board, under elections on October 15, 1892, and April 

 18, 1893. 



The newly elected board met in New York and after 

 organizing elected the following officers and executive 

 committee: 



President — Samuel P. Colt. 



Vice President — James B. Ford. 



Second Vice President — Lester Leland. 



Treasurer — James B. Ford (succeeding John J. Watson, Jr.). 



Assist tint Treasurer — W. G. Parsons. 



Secretary — Sa m uel Norms. 

 [ssistant Secretary — John D. Carberry. 



Executive Com mil tee — Samuel P. Colt, James B. Ford, Lester 

 Leland, E. C. Benedict, Walter S. Ballon, Anthony N. Brady, 

 Elisha S. Williams (succeeding John J. Watson Jr.). 



amendment of by-laws. 



Among the various amendments to the by-laws of the 

 company voted upon by the stockholders was the following, 

 which was adopted: 



Resolved, that Article II of the by-laws be amended by adding 

 thereto the following section 7: 



Section 7. — Contracts. Inasmuch as the directors of this company 

 are men of large and diversified business interests, and are likely to 

 be connected with other corporations with which from time to time 

 this company may have business dealings, no contract or other trans- 

 action between this company and any corporation, the majority of 

 whose stock is directly or indirectly owned or controlled by this 

 company, shall be affected by the fact that the directors of this company 

 voting in favor of such contract or transaction, are also interested in 

 or are directors or officers of such other corporation ; nor shall any 

 such contract or other transaction with any other corporation be so 

 affected in any case by reason of the fact that directors of this com- 

 pany are interested in or are directors in or officers of such other 

 corporattion, if, at the meeting of the board or committee of this 

 company making, authorizing, or confirming such contract or trans- 

 action, there shall be present a quorum not so interested, provided 

 a majority of such quorum shall vote in favor of such contract or 

 transaction; and any director of this company may individually for 

 his own account be a party to or be or become interested in any 

 contract or transaction of this company, provided that such contract 

 or transaction shall be authorized, approved or ratified by the affirma- 

 tive vote of at least ten directors not so interested. 



At any meeting of the board, or of a committee of this company at 

 which a contract or transaction is made, authorized, or ratified, any 

 director who is interested therein, either individually or as a director 

 of another corporation which is interested therein, shall disclose the 

 nature of his interest therein and withdraw from the meeting while 

 such contract or transaction is under discussion, and the remaining 

 directors shall cause to be entered on the minutes of the meeting the 

 statement that they are informed as to such interest of such other 

 directors, and that at that time they themselves neither have nor intend 

 to have any such interest therein. 



The board of directors in its discretion may submit any contract 

 or act for approval or ratification at any annual meeting of the stock- 

 holders, or at any meeting of the stockholders called for the purpose 

 of considering any such act or contract; and any contract or act that 

 shall be approved or be ratified by the vote of the holders of a majority 

 of the capital stock of the company which is represented in person 

 or by proxy at such meeting (provided that a lawful quorum of stock- 

 holders be there represented in person or by proxy) shall be as valid 

 and as binding upon the corporation and upon each and all of the 

 stockholders as though it had been authorized, approved or ratified by 

 every stockholder of the corporation. 



BUSINESS OF THE COMPANY. 



The following table, showing the amount of net profits of 

 the United States Rubber Co. and the amounts disbursed in 

 dividends since the organization of the company, has been 

 compiled from the printed reports of the successive treas- 

 urers of the corporation: 



Year Ending — Net Profits. Dividends. 



J6as:ffi::::::::::::::::::::l ts«vam*i 



March 31, 1895 $2,716,370.00 $2,056,190.00 



March 31, 1896 2,339,790.60 1,552,040.00 



March 31, 1897 1,999,611.34 1,552,040.00 



March 31, 1898 2,070,750.41 1,552,040.00 



March 31, 1899 3,226,513.46 1,882,040.00 



Year Ending — Net Profits. Dividends. 



March 31, 1900 $3,007,887.54 $2,828,680.00 



March 31, 1901 62,605.57 705.76500 



March 31, 1902 deficit none 



March 31, 1903 1,594,908.16 none 



March 31, 1004 1,575,641.29 none 



March 31, 1905 3,761,922.63 1,882,040.00 



March 31, 1906 3,881,270.23 2,846,092.00 



March 31, 1907 4,590,382.72 3,485,956.00 



March 31, 1908 3.553,556.14 3.495.448-00 



March 31, 1909 4.507.65? 39 3,408.940.00 



March 31, 1010 5-535, 163-15 3.574,205.oo 



CANADIAN CONSOLIDATED RUBBER CO.. LIMITED. 



The figures which follow represent the financial condition of 

 this company at the end of the calendar year 1909: 



ASSETS. 



Cash $1,811.47 



Accounts receivable 71,148.68 



Furniture and fixtures 4,240.29 



Investments in the capital stock of subsidiary com- 

 panies 7,296,950.00 



[Being 97 per cent, of the capital of The Canadian 

 Rubber Co. of Montreal, Limited, and 100 per cent. 

 of the capital stock of the Granby Rubber Co., Lim- 

 ited; the Maple Leaf Rubber Co., Limited; and the 

 Berlin Rubber Co., Limited.] 



Total $7,374,150.44 



LIABILITIES. 



Six per cent, bonds : 



Authorized $2,600,000.00 



Less unissued 58,700.00 $2,541,300.00 



Preferred capital stock : 



Issued 1,980,000.00 



Less in trust (Royal Trust Co.)... 20,545.00 1,959,455.00 



Common capital stock : 



Issued 2,805,500.00 



Less in trust (Royal Trust Co.).. 8,805.00 2,796,695.00 



At credit of profit and loss 76,700.44 



Total $7,374,150.44 



PROFIT AND LOSS ACCOUNT. 



By balance brought forward $33,386.29 



By dividends from subsidiary companies. $313,787.58 



By revenue from other sources 193,958.70 507,746.28 



Total $541,132.57 



To bond interest $515,296.00 



To preferred dividends (7%) 136,732.75 



To common dividends (4%) 111,741.00 



To general expense 64,662.38 464,432.13 



Surplus $76,700.44 



The gross earnings compare with $356,684 in 1908. The divi- 

 dends are the same, with the exception of an increase of $601 



in the preference dividend. 



* * * 



The list of officers of the Canadian Rubber Co. of Montreal, 



Limited, has undergone some changes of late. Mr. McGibbon 



remains president and the list as a whole now stands as follows : 



President — D. Lorne McGibbon. 



General Manager — F. H. Ward. 



Manager Footwear Department — \V. Binmore. 



Manager Mechanical Goods — F. E. Partridge. 



Secretary and Treasurer — Leonard L>. Shaw. 



Elastic or plastic products designed as substitutes for india- 

 rubber or gutta-percha are the subject of the British patent 

 (No. 27,688 — 1908) issued to Wallace and Reynaud. Gum 

 resins extracted from the Xanthorrhceas or other like trees 

 are added to a bath of vegetable oil heated to a temperature 

 above 200 C. A mixture of equal parts of linseed oil and 

 gum resin is specified. 



Women Tapping Rubber. — Malay women have now taken to 

 tapping rubber and on an estate, not far from Taiping, some of 

 them can be seen regularly at work. They are said to be quite 

 clever at the job and remarkably clean and swift. — Pinang 

 Gazette. 



