"62 



THE INDIA RUBBER WORLD 



July 1, 1921 



Olden Rubber Co. was organized several years ago by Israel H. 

 Albert. 



The scrap rubber plant of Samuel Kravitz, Xew and Union 

 streets, was recently destroyed b\' fire, causing a loss of about 

 $30,000. Spontaneous combustion is the cause advanced for the 

 blaze, the fire having started in bales of rubber at the foot of 

 the elevator shaft. 



Colonel Washington A. Roebling, who recently passed his eighty- 

 fourth birthday, has been elected president of John A. Roebling's 

 Sons Co., Trenton, N. J., wire rope manufacturer, succesding his 

 nephew, Karl G. Roebling, whose obituary appears in this issue. 

 Colonel Roebling has long been identified with bridge construc- 

 tion. His most notable achievement was the completion of tlie 

 Brooklyn Bridge. 



Joseph S. Papier, who conducts two automobile tire stores in 

 Trenton, has purchased the building he occupies at 15 East Front 

 street and will greatly enlarge the place. Mr. Papier is the Trenton 

 representative for the Pennsylvania vacuum cup and Lee puncture 

 proof tires. 



The Thermoid Rubber Co. has erected a frame office adjoining 

 its plant on East State street, Trenton, to make more room for 

 the additional force. The company was its own contractor and 

 builder. 



The Hamilton Rubber Manufacturing Co. is installing larger 

 and heavier machinery at the plant in East Trenton, in an addi- 

 tion 36 by 6 feet being erected for the purpose. 



The property now occupied by the Universal Tire & Tube 

 Market, 249 North Broad street, Trenton, has been sold and 

 the concern is seeking new quarters. 



\V. E. Saunders, of the Essex Rubber Co., Trenton, recently 

 addressed the members of the Trenton Shoe Club. He explained 

 to them the manufacture and uses of rubber as applied to shoes 

 and the various processes through which rubber passes before 

 it is finally made into soles and heels. 



MISCELLANEOUS NEW JERSEY NOTES 



The Sterling Tire Corporation, Rutherford, New Jersey, has 

 recently opened a direct factory branch at 1509 South Michigan 

 avenue, Chicago, Illinois. At this plant a full stock of tires 

 and tubes will be carried, and an attempt will be made to reach 

 from this point the entire West. Elmer Williams will have the 

 ."Supervision of the branch and will act as western sales manager. 

 Mr. Williams was formerly district manager for the Rubber 

 Corporation of .America at Chicago, Illinois. 



R 



THE RUBBER TRADE IN RHODE ISLAND 



By Our Regular Correspondent 



EDUCTIONS in manufacturers' tire and tube prices, ranging 

 from 10 to 25 per cent according to the grade and make, 

 have caused a price readjustment among the retailers and dealers 

 here that has been very noticeable. As these revisions bring tire 

 costs to the consumer almost to a level with the pre-war sched- 

 ules, there has been a very perceptible stimulation of business. 

 Not only has there been a noticeable increase in sales but the 

 dealers are showing a disposition to stock somewhat more heavily 

 than has been the case before in many months. 



Relative to the boot and shoe industry, little can be said. 

 There is no market and all the mills are either shut down entirely 

 or running on such a short schedule as to be practically nil. This 

 is the rule rather than the exception and there is apparently little 

 prospect of any material betterment for some time to come. Sev- 

 eral of the larger plants have endeavored to operate on a short 

 schedule so as to maintain the unity of the working forces, but 

 this has been found to be utterly imiwssible. 



The plants that are producing druggists' supplies, novelties 

 and other articles of rubber are doing something although not 



being operated to the full capacity of their equipment. But even 

 with these departments there is comparatively little enthusiasm 

 and the operations are almost hand to mouth, orders being cleared 

 up almost as rapidly as they are booked. 



With this lethargy in rubber manufacturing lines a correspond- 

 ing dullness is carried into the textile and fabric plants that 

 furnish these goods for various purposes of the rubber industry. 

 Some of the mills that are producmg textiles for tire fabrics are 

 moderately busy but none are being operated to a sufficient de- 

 gree to burden them to any extent. There is a generally optimistic 

 feeling among these manufacturers although it can hardly be 

 called very enthusiastic. A general revival in other businesses 

 would unquestionably be substantially reflected in an increased 

 activity in the tire business and its accessories and supplies. 

 Everybody is ready and waiting and the millennium cannot come 

 too quickly to suit both employer and employe. 



The American Wringer Co. deficit of $317,998.64, reported 

 recently by the Industrial Trust Co., Providence, as receiver 

 for the wringer corporation, brought no pleasure to the latter's 

 stockholders. It was the first statement after the appraisal of 

 assets and liabilities of American Wringer as of January 26, 

 1921, the date of the appointment of the Industrial Trust as tem- 

 porary receiver. The plant and inventory were revalued by 

 Lockwood, Greene & Co. as of January 26 and the items ap- 

 proved were $306,059.22 below their original book values. The 

 wringer concern's condition is not as favorable as was hoped by 

 the more sanguine among its stockholders and friends. 



Total claims of merchandise creditors filed at the time the 

 statement was made up aggregated about $600,000, and out- 

 standing creditors' claims on notes held by banks foot up about 

 $835,000. It will require a later report for the consideration of 

 and decision on the claims of creditors. Also, there are accrued 

 taxes and wages to be satisfied. Orders booked for wringers 

 were about one-third nonual for the first four months of the 

 present year. The company's installment business, perhaps, was 

 not a happy idea, and there was much of it, and too little working 

 capital. 



Following are the principal items of the balance sheets of 

 American Wringer, as of January 26, 1920 (furnished by the 

 company itself), and as of January 26, 1921 (furnished by the 

 receiver). On the former date the assets and liabilities balanced 

 at $2,471,027.37 and on the latter at $2,944,563.82. Real estate, 

 machinery and fixtures were given separately, a year ago, and 

 "bunched" this year. The capital stock remained at $1,750,000. 

 "Patents, trade marks and good will" would not seem to be very 

 valuable as a market asset to a concern thus situated, but com- 

 parison of the items selected, as below, may be of interest : 



Assets 



January 1, January 26, 



1920 1921 



Plant, etc $823,253.51 $940,852.00 



.Merchandise 934,157.79 1,027,133.02 



Cash 95,766.31 165,479.35 



Investments 153,215.75 22,705.00 



Notes Receivable 37.059.11 41,181.04 



Accounts receivable 312.569.19 300,779.92 



Patents, etc 110,978.71 111,257.21 



Liabilities 



Accounts payable $126,277.37 $342,865.24 



Notes payable 475,000.00 842.000.00 



Surplus 90,000.00 •317,998.64 



•Deficit. 



The company had, as of January 26, 1921, contingent liabilities 

 of $95,470.95 for notes discounted and its "cash" includes $10,362.15 

 on deposit in Europe, at par of exchange. 



John F. Sweeney, for 32 years with the American Wringer Co., 

 Woonsocket, and for the past six months plant manager, severed 

 his connection with that cor[)oration on June 10. He has been 

 succeeded by George R. Keltic, the following notice having been 

 posted, signed by William G. Roelker, secretary of the Industrial 

 Trust Co., receiver for the American Wringer Co. : "George R. 



