January 1, 1921 



THE INDIA RUBBER WORLD 



271 



News of the American Rubber Industry 



FINANCIAL NOTES 



TO coNSER\-E its cash resources The Fisk Rubber Co., Chicopee 

 Falls, Massachusetts, has passed the quarterly dividend of 75 

 cents a share on common stock, due January 1, 1921, although 

 it has been more than earned during the past year. The regular 

 quarterly dividend of IM per cent on the first preferred stock 

 has been declared payable February 1 to stockholders of record 

 January 21, 1921. 



The financial position of the company is sound, with quick 

 assets in the ratio of two to one to liabilities. Sales for the 

 twelve months ended December 21 were approximately $42,000,- 

 000 against $43,600,000 in 1919, the company's biggest year. 

 While inventories are larger than normal, finished tires con- 

 sist of standard salable sizes, mostly four-inch and under. At 

 the end of the year stocks of cotton fabric, rubber and other 

 materials are to be marked down to sound values, the re- 

 adjustment being effected out of 1920 earnings without drawing 

 on the previously accumulated surplus. Spring business to date 

 is reported fully up to that of last year, being little affected by 

 the, present condition of the automobile industry, as less than 

 25 per cent of total sales are for original equipment. 



Sales of The Mason Tire & Rubber Co., Kent, Ohio, for its 

 fiscal year ended October 31, were $6,598,000.00, being 95 per cent 

 greater than last year. Net earnings, after heavy charge offs, 

 to reduce inventories and raw materials from original cost to 

 " present market values, amounted to $524,000.00, being 135 per 

 cent increase over the preceding year. Comparative sales and 

 earnings for the past four years are as follows : 



Year Sales Earnings 



1917 $1,200,000. $104,457.60 



1918 2,324,000. 203,406.47 



1919 3,468,000. 223,705.52 



1920 6,598,000. 524,742.73 



The Mason company does not have a pound of high-priced 

 fabric or rubber on undelivered contracts, and its inventories 

 of finished tires in stock at factory and its twenty-two branches 

 are less than normal. Sales, which gradually declined until 

 October, have since gone steadily upward, and January sales 

 will almost be normal. 



The report of the Firestone Tire & Rubber Co. for the last 

 fiscal year shows total sales of $114,980,260 compared with $91,- 

 078,514 for the preceding year, an increase of 26 per cent. The 

 report states that the high peak of production was reached in 

 April when the daily average was 28,000 tires. Net earnings 

 were $9,396,912. The company set aside $8,151,750 for deprecia- 

 tion of inventory. Total current assets exclusive of investments 

 in other companies and in securities, as well as investments in 

 land, machinery and equipment, were $73,732,502. Total assets 

 were $107,404,200, against which there were total current liabilities 

 of $32,684,569. 



The financial statement of the Boston Woven Hose & Rubber 

 Company as of August 31, 1920, disclosed total assets of $10,- 

 448,348 contrasted with $7,340,409 the same time a year ago. 

 Merchandise is carried at $4,926,299, against $2,675,255 last year; 

 and cash and debts receivable contrast $2,506,938 with $1,809,192 

 in the previous year. Accounts and notes payable arc placed at 

 $3,336,352. compared with $1,460,026; and the surplus is reported 

 at $2,161,996 against $2,030,383 in 1919. 



Plans for $40,000,000 financing and the selection of a new board 

 of directors for The Goodyear Tire & Rubber Co., Akron, Ohio, 

 had virtually been completed when suit for receivership was filed 

 in the Common Pleas Court at Columbus, Ohio, by Frank S. 

 Monnett as a stockholder. This suit was subsequently dismissed 

 bv the court. 



The directors of The McGraw Tire & Rubber Co., East Pales- 

 tine, Ohio, in order to conserve cash resources have voted to omit 

 the quarterly dividend on the preferred stock. This action was 

 taken in view of the general trade and credit conditions through- 

 out the country. 



DIVIDENDS DECLARED 



Company Stock 



American Chicle Co Pfd 



Apsley Kdbber Co Pfd. 



Bergougnan Rubber Corporation.. Pfd. 

 Boston Woven Hose & Rubber Co. Com. 

 Boston Woven Hose & Rubber Co. Pfd. 



Brunswick-Balkc-Collender Co Pfd. 



Canadian Consolidated Rubber Co., 



Ltd Pfd. 



Dayton Rubber Manufaf turing Co. Com. 



Delion Tire & Rubber Co Pfd. 



du Pont, E. I., de Nemours S: Co. Com. 

 du Pont. E. I., de Nemours & Co. Com. 

 (lu Pont. !•:. I., de Nemours S: Co. Deb. 



Firestone Tire & Rubber Co Com. 



Habirshaw Electric Cable Co.. Inc. Com. 

 Hood Rubber Products Co., Inc. . . Pfd. 



Kelly-SprinRfield Tire Co 6% Pfd. 



Pennsylvania Rubber Co Com. 



Pennsylvania Rubber Co Pfd. 



Salmon Falls Manufacturing Co... . Com. 

 United Shoe Machinery Corporation Com. 

 United Shoe Machinery Corpor.Ttion Pfd. 



Rate 



lM%q. 

 3K%8.a. 

 lK%q. 

 $3q. 

 $3 s.a. 



lH%q. 



m%i- 



2% q. 

 2% q. 



2K% stk. 

 l'A% 

 6% a. 

 $0.37 H 

 lH%q. 

 $1.50 q. 

 1 5^ % q. 

 lM%q. 

 2"^%q. 

 $0.50 q. 

 $0.37!/j q. 



Pay- 

 able 

 .Tan. 3 

 Jan. 1 



Dec. 15 

 Dec. 15 

 Jan. 1 



Dec. 31 

 Jan. 1 

 Jan. 1 

 Dec. 15 

 Dec. 15 

 Jan. 25 

 Dec. 30 



Dec. 1 



Jan. 1 

 Dec. 31 

 Dec. 31 

 Dec. 1 

 Jan. 5 

 Jan. 5 



Stock of 

 Record 

 Dec. 18 

 Dec. 27 



Dec. 1 

 Dec. 1 

 Dec. 20 



Dec. 22 



Dec. 15 



Dec. 24 



Nov. 30 



Nov. 30 



Jan. 10 



Nov. 20 

 Dec. 17 

 Dec. 15 

 Dec. IS 

 Nov. IS 

 Dec. 20 

 Dec. 20 



NEW YORK STOCK EXCHANGE QUOTATIONS 



December 23, 1920 



-Ajax Rubber Co., Inc 



The Fisk Rubber Co 



The B. F. Goodrich Co 



The B. F. Goodrich Co., pfd... 



Kelly-Springfield Tire Co 



Kelly-Springfield Tire Co., pfd. 



Keystone T. & R. Co., Inc 



Lee R. & T. Corp 



United States Rubber Co 



United States Rubber Co., pfd. 



CLEVELAND STOCK EXCHANGE QUOTATIONS 



The following quotations on the Cleveland Stock Exchange, December 

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

 Cuyahoga Building, Cleveland. Ohio. 



Last 

 Sale 



80 



1st pfd 81)4 



& R. Co., 2d pfd 74 



" " " 89 



35?i 

 75'A 

 26 



szyi 



Firestone T. & R. Co. 



Firestone T. & R. Co., 



Firestone T. 



General T. & R. Co., pfd 



The B. F. Goodrich Co 



The B. F. Goodrich Co., pfd... 



The Goodyear T. & R. Co 



The Goodyear T. & R. Co., pfd 



Kelly-Springfield T. & R. Co 49 



Kelly-Springfield T. & R. Co., pfd 120 



The Miller Rubber Co 75 



The Miller Rubber Co., pfd 76 



Portage Rubber Co 20 



Portage Rubber Co., pfd 49 



Star Rubber Co 350M 



Swinehart T. & R. Co 39 



Victor Rubber Co IS 



Bid 



80 



Asked 



82 



sm 



74 



21 



71 



12 



22 

 46 



75 

 78 



22^ 

 50 



28 



NEW INCORPORATIONS 



A. C. G. Sales Co., Inc., December 13 (New York), $100,000. A. C. 

 Geraci, Buffalo, New York; P. I.isi, Mclntyre; J. Isgro, Punxsutawney — 

 both in Pennsylvania. To sell tires. 



Barker Insulation Co., Inc., December 8 (New York), $1,000. W. P. 

 and J. H. Barker; C. A. Barner — all of 27 William street, New York City. 

 To manufacture waterproof and insuLated fabrics. 



Burlock Non-Skid Tire Corp., The, November 29 (Delaware), $250,000. 

 J. E. Burlock; C. E. Speigel; W. D. Beardsley— all of Nyack, New York. 

 To manufacture tires. 



Cigol-Behrens Rubber Mfg. Co., The, November 10 (New Jersey), 

 $350,000. J. H. Hchrens, president .ind treasurer; L. G. Davenport, secre- 

 tary^ Principal office, I-odi, Bergen County, New Jersey. To manufacture 

 molded rubber goods, etc. 



Collins Puncture Proof Tube Co., November 26 (New Jersey), $200 000. 

 J. Kmzley, Jr.; W. B. Mackay, Jr.; J. W. Mercer— all of Hackensack, New 

 Jersey. Principal office. Hackensack, New Jersey. To manufacture tires 

 and tubes. 



Dayton Rubber Mfg. Co., December 3 (Delaware), $200,000. C T. 

 Cohee; C. B. Outten; S. L. Mackey — all of Wilmington, Delaware. To 

 manufacture rubber tires. 



Dixie Tire & Rubber Association. November 12 (Delaware) $500 000 

 J. E. Mayo; J. D. Youngblood; R. T. Meadow— all of Dallas, Texas. 



