December 1. 1920 



THE INDIA RUBBER WORLD 



189 



News of the American Rubber Industry 



T 



DIVIDENDS 



HE AjAX Rubber Co., Inc., Xew York City, has declared a 

 quarterly dividend of $1 per share, payable December 15 on 

 common stock of record November 30, 1920. 



The Brutiswick-Balke-Collender Co., Chicago, Illinois, recently 

 declared its quarterly dividend of one and three-quarters per 

 cent, payable November 15 on common stock of record November 

 5, 1920. 



The Canadian General Electric Co., Limited, Toronto, Ontario, 

 has declared its quarterly dividend of two per cent on stock of 

 record December 15, 1920, payable January 1, 1921. 



The Converse Rubber Shoe Co., Maiden, Massachusetts, 

 has declared the semi-annual dividend on its seven per cent 

 preferred stock. 



The Firestone Tire & Rubber Co., Akron, Ohio, recently de- 

 clared its quarterly dividend of one and three-quarters per cent, 

 payable November 15 on preferred stock of record November 1, 

 1920. 



The General Electric Co., Schenectady, New York, has declared 

 a quarterly dividend of $2 per share and a semi-annual dividend 

 of two per cent in stock, both payable January 15 on stock of 

 record December 8, 1920. 



The B. F. Goodrich Co., .\kron, Ohio, and New York City, 

 has declared a quarterly dividend of $1.50 per share, payable 

 February 15, 1921, to common stock of record February 4, 1921, 

 and a quarterly dividend of $1.75 per share, payable January 1, 

 1921, to preferred stock of record December 21, 1920. 



Hamilton Tire & Rubber Co., Detroit, Michigan, declared a 

 cash dividend of si.x per cent on all stock of record at its annual 

 meeting in October. 



The Hood Rubber Co., VVatertown, Massachusetts, has declared 

 a quarterly dividend of one and three-quarters per cent payable 

 November 1 to stock of record October 20, 1920. 



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

 declared a quarterly dividend of one and three-quarters per cent, 

 payable December 31 on preferred stock of record December 13, 

 1920. 



Swinehart Tire &. Rubber Co., Akron, Ohio, has deferred pay- 

 ment of dividend on the common stock, but has declared the 

 regular quarterly dividend on the preferred stock, payable 

 December IS, 1920. 



FINANCIAL NOTES 



At a special meeting of the common stockholders of the Hood 

 Rubber Co., VVatertown, Massachusetts, October 27, it was voted 

 to change the existing common stock into 100,000 shares of com- 

 mon stock without par value and holders of the outstanding 

 common stock heretofore having a par value of $100 a share were 

 notified to exchange the certificates therefor for shares of com- 

 mon stock without par value on the basis of two shares without 

 par value for each share previously outstanding, this exchange 

 to be made as of November 5, 1920. From that date dividends 

 are to be declared on shares without par value only. 



The Goodyear Tire & Rubber Co., Akron, Ohio, has passed the 

 quarterly dividend on the common stock for the first time in its 

 existence of 22 years. The outstanding common stock exceeds 

 $61,000,000, and the outstanding preferred approximates $59,- 

 000,000. The action on the regular quarterly dividend on the 

 preferred will be taken in January. The common paid 12 per 

 cent annually until the last meeting, when it was reduced to 10 

 per cent. 



Net sales of the Lee Tire & Rubber Co., the operating organiza- 

 tion of the Lee Rubber & Tire Corporation, for the nine months 

 ended September 30, last, amounted to $6,204,586, compared with 

 $4,492,189 in the same period in 1919, an increase of $1,712,397. 

 After all charges, but before tax reductions, there was a net 

 profit in the nine months of $640,684, contrasted with $460,512 

 in the same period a year ago, an increase of $180,172. 



In reply to a request for a statement regarding the dividend 

 policy of the United States Rubber Co. and of its position gen- 

 erally, Colonel Samuel P. Colt, chairman of the board, said : 



"The officials of the L^nited States Rubber Co. see no reason 

 to change the policy of the company adopted over a year ago 

 when the common stock was placed upon an 8 per cent dividend 

 basis. 



"The profits of the company for the year will substantially 

 exceed all regular dividend requirements, notwithstanding tiie 

 falling off in the tire trade, which constitutes only one-third of the 

 entire business of the company. 



"The company's situation as to crude rubber, in which there 

 has been an unusual price decline, is all that could be asked. The 

 company has no forward contracts and, therefore, has taken advan- 

 tage of making purchases at the lower levels of prices, which, 

 together with the substantial supply from its own eastern planta- 

 tions, puts the company in a most favorable position as to 

 crude rubber. 



"The company has lieretofore made liberal reserves from income 

 to cover possible shrinkage in inventory values due to decline in 

 prices." 



The Marathon Tire & Rubber Co., Cuyahoga Falls, Ohio, will 

 reduce the par on its capital stock from $100 to $10 a share. 

 Calling in the old stock has resulted in a drop in value on the local 

 exchange from $40 to $4.50 a share. 



The stockholders of the Westinghouse Electric & Manufactur- 

 ing Co. have authorized an increase of $30,000,000 in the indebted- 

 ness of the company, and also increased the capital stock from 

 $75,000,000 to $125,000,000. 



NEW YORK STOCK EXCHANGE QUOTATIONS 



N'oVEMBEK 20, 1920 



High Low 



Aiax Rubber Co., Inc 32^ 311i 



The Fisk Rubber Co U]4 14 



Tbe B. F. Goodricb Co 41 40Vi 



The B. F. C?oodrich Co.. pfd 80'/i 80 



Kelly-Springfield Tire Co 41 40^ 



Kcllv-Spritufficld Tire Co., pfd ... 



Kevstone T. S: R. Co.. Inc S% 8W 



Lee R. & T. Corp 17.H 17)| 



I'nited States Rubber Co 6l'/i 59 



L'nued States Rubber Co., pfd lOO^S iOO'A 



I..ast 



14 

 41 

 80 



41 



"m 



17 

 5954 



iooyi 



CLEVELAND STOCK EXCHANGE QUOTATIONS 



The foUdwing quotations on tbe Cleveland Stock Exchange. November 

 19. of .stock of the i>rincipal rubber companies were supplied by Otis & Co., 

 Cuyahoga Building, Cleveland. Ohio. 



Last 



Sale Bid .Asked 



Firestone T. & R. Co 103 100 



Firestone T. & R Co.. 1st pfd STA 85^^ 885^ 



Firestone T. S: R. Co., 2 pfd 81^5 ... 85 



Cencral T. & R. Co., pfd 89 



The H. F. Goodrich Co 41'/i 



The B. F. Goodrich Co.. pfd 83 



Tbe C.oodycar T. & R. Co 42Ji 41 42 



The Coddvear T. & R. Co., pfd 69 68}i 69 



Kclly-Sprincfield T. & R. Co 49 



KcllySpringfield T. & R. Co.. pfd 120 



The Miller Rubber Co 99 90 99 



Portage Rubber Co 45 ... 38 



I'ortage Rubber Co., pfd 57% 56 



Star Rubber Co 3S0)< 



Swinehart T. & R. Co 39 



\'ictor Rubber Co 16 15 22 



