June i, 1910.] 



THE INDIA RUBBER WORLD 



319 



Rubber Goods Manufacturing Co.'s Annual. 



THE eleventh annual meeting of the shareholders of the 

 Rubber Goods Manufacturing Co., a corporation of New 

 Jersey, was held at the registered offices of the company 

 in Jersey City, on Thursday, May 19. The annual reports of the 

 rs nf the company were read and aproved, ami are given 

 here in full form. 



PRESIDENT WILLIAMS'S EEPORT. 



To he Stockholders of the Rubber Goods Manufac- 

 turing Co.: Your president did not conn- into office until 

 January 1, 1910, or at the close of the fiscal year of the com- 

 pany 



'file annual report of the treasurer of your company 

 shows a large increase in sales over all preceding years. 

 This increase has applied to all lines of goods manufac- 

 tured by your company, although much more largely to 

 automobile tires, extraordinary attention having been 

 given to this branch of the business, with the view of 

 bringing about a materially increased demand for our 

 tires. This has been accomplished, but in so doing 

 largely increased expenses, together with increased equip- 

 ment, have been called for, which has prevented our 

 showing a proportionate increase in net earnings, but 

 from which we shall derive much benefit in the future. 



The maintenance of all plants and equipment has re- 

 ceived and is receiving the same careful attention as in 

 previous years, and all are in excellent condition. 



The increase in bills and accounts payable is the re- 

 sult of high prices for crude rubber and other materials 

 and larger volume of business. It will be noted that in- 

 ventories show a corresponding increase. Respectfully 

 submitted. ELISHA S. WILLIAMS, President. 



Jersey City, New Jersey, April 14, 1910. 



treasurers report. 

 Consolidated General Balance Sheet, December 31, 1909. 



ASSETS. 



Property, plants and investments $,24,786,194.24 



Patents and trade marks 2,311,621.32 



Inventories, manufactured goods 



and materials $12,917,183.90 



Cash 1,121,737.63 



Bills and accounts receivable... 3,611,417.22 17,650,338.75 



Securities owned 7,822.42 



Stock owned in General Rubber 



Co 1,000,000 1,007,822.42 



Miscellaneous assets 202,743.51 



Total assets $45,958,720.24 



LIABILITIES. 



Capital stock, preferred $10,351,400.00 



Capital stock, common 16,941,700.00 



Bonds of Mechanical Rubber Co. 



and New York Belting and 



Packing Co. (less amount owned) $983,510.00 

 Sinking fund cash in hands of 



trustee 130,108.27 



Reserve for redemption of bonds 



Bills and accounts payable 



Reserve for new construction 



Reserve for federal excise tax 



Fixed surplus (subsidiary companies) 



Surplus 



$27,293,100.00 



853.40173 



588.548.53 



8.675.780.31 



523,643.05 



23,160.74 



2.499,218.65 



5,501,867.23 



Consolidated Summary of Income and Profit and Loss for 



Yeas Ended December 31, 1909. 

 Net sales $25,629,592.71 



Earnings of subsidiary companies $2,332,920.65 



Realized from securities hereto- 

 fore charged off $160,000.00 



Less: 

 Expenses of home office 122,949.04 37.050.96 



Xet profits $2,369,971.61 



Dividends • • . . $963,489.00 



Added to reserve for redemption 



of bonds 73,510.06 1,036,999.06 



Surplus for the period $1,332,972.55 



Surplus and working capital January 1, 1909.. 4,168,894.68 



Surplus and working capital December 31, 1909 $5,501,867.23 

 Respectfully submitted, 



THOMAS H. LEE, Treasurer ' 



The annual election resulted in the election of the following 

 directors of whom two are new, Messrs. Williams and Ford. 

 The name of Mr. Watson, previously on the board, does not 

 appear this year. At a meeting of the board held on May 20, 

 at No. 42 Broadway, the election of officers resulted : 



President. — Elisiia S. Williams. 



I ic: Presidents. — Lester Leland ami Char-es A. Hunter. 



Treasurer. — E. J. IIathorne. 



Assistant Treasurer. — John D. Carberry. 



Secretary. — Samuel Norris. 



Assistant Secretary. — John 0. Carberry. 



Executive Committee. Llisha S. Williams, Lester Leland, Anthony N. 

 Brady, Samuel P. Colt, Ernest Hopkinson, Charles A. Hunter, and Homer E. 

 Sawyer. 



The certificate of audit of the company's accounts is signed 

 by Haskins & Sells, certified accountants. 



The following record of the volume cf net sales by the 

 Rubber Goods Manufacturing Co. and the subsidiary companies 

 is compiled from the successive annual reports as published: 



1900 $13,364,090.00 



1901 14,348,046.00 



1902 13,999,329.00 



1903 14,310,752.00 



1904 14,556,289.00 



1905 $17,662,453.00 



1906 19,737,120.81 



1907 21,473,823.28 



1908 18,491,987.90 



1909 25,629,592.71 



GUTTA-PERCHA IN SURGERY. 



Total liabilities $45,958,720.24 



Of the above "surplus" minority stockholders would be entitled to 

 $127,379.55. _ 



Contingent liabilities for certain guarantees which are offset by corre- 

 sponding contingent assets, are not included. 



\V J KITING in the Journal of the American Medical Asso- 

 " * ciation, Dr. Frank speaks of the lack of familiarity with 

 gutta-percha and its surgical uses and the confusion that 

 exists between it and rubber tissue. While there are points 

 of similarity between them, they are very different and are 

 not available for the same purposes. He reviews the history 

 of the substance and its surgical use, and says his own atten- 

 tion was called to it by its unirritating properties. Surgeons, 

 on its first introduction, made rather extensive use of it, but 

 since its supercession by plaster of paris as a splint material 

 very little has appeared in regard to it in medical literature. 

 He speaks especially of its value as an occlusive dressing, for 

 which it has advantages over oiled silk in that it is free from 

 odor, is more pliable, and is not disintegrated by body tem- 

 perature and moisture. It is also valuable for drainage, and 

 he gives a large number of applications in which it may be 

 useful. He also reports his experiments with the sterilization 

 of this substance and finds that it can be sterilized effectually 

 by a I to 1,000 or 1 to 2,000 bichloride of mercury solution, 

 which does not seem to affect its physical properties. 



Prices Not Elastic. — Just now the price of rubber stretches 

 readily, but won't contract. — New Albany (Indiana} Tribune. 



