October 1. 1920.] 



THE INDIA RUBBER WORLD 



39 



News of the American Rubber Industry 



DIVIDENDS 



THE American Zinc, Lead & Smelting Co., Boston, Massa- 

 chusetts, and St. Louis, Missouri, has declared its regular 

 quarterly dividend of $1.50 per share, payable November 1 

 on preferred stook of record October 15, 1920. 



Ames-Holden-McCready, Limited, Montreal, Quebec, has 

 declared its quarterly dividend of 154 per cent, payable 

 October 1 on preferred stock of record September 17, 1920. 



The Boston Woven Hose & Rubber Co., Boston, Massa- 

 chusetts, declared its quarterly dividend of $3 per share, pay- 

 able September IS on stock of record September 1, 1920. 



The Corn Products Refining Co., New York City, has de- 

 clared a quarterly dividend of $1 and an extra dividend of 

 fifty cents per share, both payable October 20 on common 

 stock, and a quarterly dividend of $1.75 per share payable 

 October IS on preferred stock, all on stock of record Oc- 

 tober 4, 1920. 



The Driver-Harris Co., Harrison, New Jersey, has declared 

 quarterly dividends of one and three-quarters and two per 

 cent on preferred and common stock, respectively, both pay- 

 able October 1 on stock of record September 20, 1920. 



The E. I. du Pont de Nemours & Co. (incorporated), Wil- 

 mington, Delaware, has declared a dividend oi lyi per cent 

 on its debenture stock, payable October 25 on stock of record 

 October 9, 1920; also a quarterly dividend of $2 cash and 

 $2.50 stock per sliare, payable September IS on common stock of 

 record August 31, 1920. 



Tlie Harbirshaw Electric Cable Company, Inc., Yonkers, 

 N. Y., has declared its regular quarterly dividend of il'/z 

 cents per share, payable October 1, on stock of record Sep- 

 tember 20, 1920. 



The Kelly-Springfield Tire Co., New York City, has de- 

 clared a quarterly dividend of $1.50 per share on its six per 

 cent preferred stock, payable October 1 on stock of record 

 September 20, 1920. 



The Keystone Tire & Rubber Co., Inc., New York City, 

 has declared a quarterly dividend of 5 per cent, payable 

 October 1 on preferred stock of record September IS, 1920. 



The McGraw Tire & Rubber Co., Cleveland and East 

 Palestine. Ohio, has declared its regular quarterly dividend 

 of one and three-quarters per cent. 



The National Aniline & Chemical Co., New York City, has 

 declared a dividend of 1J4 per cent on preferred stock of 

 record September 13, payable October 1, 1920; also a stock 

 dividend of four-tenths of one share of common stock, pay- 

 able October 9 on common stock of record October 1, 1920. 



The Salmon Falls Manufacturing Co., Boston, Massachu- 

 setts, declared a regular quarterly dividend of 2j/2 per cent, 

 payable September 1 to stockholders of record .August 25, 1920. 



The United Shoe Machinery Corporation, Boston, Massachu- 

 setts, has declared dividends of one and one-half per cent on 

 preferred stock and of 50 cents per share on common stock, both 

 payable October 5 on stock of record September 20, 1920. 



FINANCIAL NOTES 



The president of the First National Bank of Philadelphia issues 

 a statement which says, in part : "The country is making excel- 

 lent progress in cashing in its high price inventories, and, slowly 

 but surely, the nation is adopting a more reasonable price level. 

 The situation must be handled with great care, however, as 



transition is no easy task because of the extraordinarily high level 

 attained by general prices throughout the list of commodities." 



Net earnings of The Mason Tire & Rubber Co. for the third 

 quarter ended July 31, were $152,011.16. This makes total net 

 earnings for the first nine months of the present fiscal year of 

 $}yH,490.18, before deduction of taxes, bait after deduction of de- 

 preciation. Net earnings for the first nine months of last year 

 amounted to $195,000, so that current earnings are running at the 

 rate of four times larger than the preceding year. 



The following is a statement of earnings of the United States 

 Rubber Co. for the six months ended June 30, 1920: Total sales, 

 $129,588,986; net income before interest, but after provision for 

 depreciation and for Federal, Canadian and British taxes, $15,- 

 596,831; interest, $1,905,907; net income, $13,690,924; dividends 

 first preferred stock, $2,600,000; dividends to minority stockhold- 

 ers of sub-companies, $9,359; total dividends, $2,609,359; balance, 

 $11,081,565; dividends common stock, including provision quar- 

 terly dividend payable July 31, 1920, $3,240,000: surplus, $7,841,- 

 565; previous surplus, $52,310,162; total surplus, $60,151,727: less 

 12'-^ per cent common stock dividend, $9,000,000; total surplus, 

 $51,151,727; additions to surplus account, $338,308; final surplus, 

 $51,490,034. 



The consolidated general balance sheet as of June 30, last, 

 .'hows : 



Assets— Cash, $14,333,748; accounts receivable, $50,938,776; 

 notes and loans receivable, $2,953,238; United States Liberty 

 Bonds, etc., $44,876; notes receivable of employes given for pur- 

 chase, of capital stock, $7,758,564; manufactured goods and mate- 

 rial, $127,846,245; securities owned and held in insurance fund, 

 $2,331,778; securities owned, including stock of United States 

 Rubber Co. held by subsidiary companies, $5,098,096; plants, 

 properties and investments including rubber plantations, $161,243,- 

 873; prepaid and deferred'as.sets, $3,371,649; total, $375,920,847. 



Liabilities: Total capital stock. $146,277,400; accounts payable 

 and accrued liabilities. $24,113,347; acceptances payable for im- 

 portation of crude rubber. $1,644,485; notes and loans payable, 

 $41,255,000; L^nitcd States Rubber first and refunding mortgage 

 bonds, etc., $67,026,800; general reserves, $16,021,666; insurance 

 fund reserve, etc., $2,705,367 ; reserve for depreciation of property, 

 $15,757,469; reserve for preferred dividend payable July 31, 1920, 

 $1,300,000; reserve for dividend on common stock payable hily 

 31, 192t), $1,620,000; fixed surpluses subsidiary companies, $6,709,- 

 275; surplus, $51,490,035; total, $375,920,847. 



The Goodyear Tire & Rubber Co.'s sales for .\ugust exceeded 

 $19,000,000, according to announcement by the company. This 

 is $2,000,000 more than sales of July, which totaled $17,185,000, 

 and brings the total sales for the first ten months of the fiscal 

 year to more than $180,000,000 or $13,000,000 in excess of total 

 business for the entire fiscal year of 1919. 



RUBBER STOCK QUOTATIONS 



The following quol.itinns on the rievcl.lnil .Stock Exchan(?e, September 

 20. of stock of the principal rubber companies were supplied by Otis & Co 

 Cuyahoga Building, Cleveland, Ohio. ' 



r.ast 



17 . T t r, r- ^^^^ B""" Asked 



Firestone T. & R. Co 117 



Firestone T. & R. Co., I st pfd 93 



Firestone T. & R. Co., 2d pfd iSU 'hsVi '..'. 



Ceneral T. & R. Co , pfd 102 ... 102V4 



The R. F r;.iodrich Co szy. " 



The R. F. Gofxlrich Co.. pfd 87 '87 



The GiKidyear T. & R. Co 10054 99 100 



The Coodvcar T. S: R, Co.. 1st pfd 83 82'/< 83',^ 



Kelly-.Soringfield T. & R. (^o 156"^ 



Kelly-Sprini-fieM T. & R. Co., pfd 120 



The Miller Rubber Co 120 118 



Portage Rubber Co S9'/i 50 58 



Portat'e Rubber Co., pfd 60 70 



•Star Rubber Co 350W . . 



Swinchart T. & R. Co SO 



V'ictor Rubber Co 29 25 29 



