September 1, lf21 



THE INDIA RUBBER WORLD 



917 



News of the American Rubber Industry 



FINANCIAL NOTES 



THE FISK. FEDEHAL AND NINIGRET MERGER PROPOSES IMPORTANT 



CHANGES 



APROi'usF.D readjustment in its capital stock, and the ac- 

 quisition of the properties of the Federal Rubber Co., and 

 the Xinigret Co., are being considered by The Fisk Rubber 

 Co. Because of the decline in the market values of rubber and cot- 

 ton fabric which meant that finished stock was written down to a 

 new basis of twenty cents a pound for rubber and a correspond- 

 ing basis for fabric, the balance sheets of Fisk and Federal show 

 a deficit instead of a surplus. Costs, however, are now being 

 figured on the new basis, whereby the companies can readily meet 

 competition based on present market values. In fact, on this 

 basis the business is showing normal profits during the current 

 quarter. Orders and sales of Fisk tires are close to the maximum 

 level, while production is Hearing capacity. The Federal is also 

 showing greater activity, while the prospects of a continuance of 

 business are most encouraging. It has been considered desir- 

 able for the F'isk company to acquire the assets of both the 

 Federal and Ninigret companies, thus enabling a direct mortgage 

 to be given on all properties. 



The Fisk company proposes to issue $10,000,000 20-year mort- 

 gage bonds and to increase the authorized amount of the first 

 and second preferred stocks and the common stock as decided 

 by the proxy committees. An option may be given for 10 years 

 on 50,000 shares of common stock at $5 a share to facilitate the 

 sale of the bonds or second preferred stock or common stock, 

 cr both may be otherwise sold or disposed of on option given 

 at such prices and on such terms as the proxy committees shall 

 approve. 



First preferred Federal shareholders will receive Fisk first 

 preferred share for share and S8"4 cents a share as a dividend 

 adjustment, dividends on the Fisk stock to cumulate from May 

 1, 1921. A siiTiilar exchange is offered for the Fisk second pre- 

 ferred, with the Fisk dividend to cumulate from June 1. Federal 

 common stockholders are to receive share for share of Fisk 

 common. Ninigret common shareholders are to receive Fisk 

 common stock as Fisk directors decide. 



REPUBLIC PROTECTIVE COMMITTEES 



The jirotective committee for the first preferred stock of the 

 Republic Rubber Corporation, Youngstown, Ohio, consists of 

 H. M. Geiger. The Geiger-Jones Co., Canton, Ohio; Fred S. 

 Borton, Borton & Borton, Cleveland, Ohio ; Wilford P. 

 Arms, The Realty Guarantee & Trust Co., Youngstown, Ohio; 

 and Richard Brown, secretary. The Realty Guarantee & Trust 

 Co. The protective committee for the second preferred and 

 common stock consists of W. S. Banks, D. W. Myers and Phillip 

 H. Schaff. C. W. Ullman, Dollar Savings & Trust Co., Youngs- 

 town, Ohio, is secretary. 



GOODYEAR TIRE & RUBBER CO. OF CANADA, LIMITED 



Encouraging indications of present and continued prosperity are 

 evidenced by the recent report of the Goodyear Tire & Rubber 

 Co. of Canada, Limited. The debt of $2,826,000 to the parent 

 company, The Goodyear Tire & Rubber Co., Akron, Ohio, has 

 been liquidated by allotting it at par 28,260 shares of 6 per cent 

 prior preference stock, while satisfactory arran.gements have also 

 been made with fabric and rubber commitment creditors. 



The Canadian company's surplus now amounts to $2,833,458.28, 

 which will be held available, and is more than ample to meet 

 the excess cost of all materials contracted for but undelivered. 

 Jime operations showed a net profit of $92,253.39. 



At the special general meeting of the shareholders of the com- 

 pany, held July 18, 1921, the following officers were elected : F. 



G. Wilmer, president; C. H. Carlisle, vice-president and general 

 manager; J. G. Lane, treasurer; H. N. Barry, secretary; R. P. D. 

 Graham, assistant treasurer; R. C. Berkinshaw, assistant secre- 

 tary: H. C. Lower, general sales manager; E. II. Koken, fac- 

 tory superintendent. 



The newly-elected board of directors includes the following: 

 E. G. Wilmer, C. H. Carlisle, G. M. Stadelman, P. W. Litchfield, 

 J. E. McAllister, P. A. Thomson, J. G. Lane. 



DIVIDENDS DECLARED 



The Firestone Tire & Rubber Co., Akron, Ohio, declared its 

 regular quarterly dividend of one and three-quarters per cent 

 on preferred stock of record August 1, payable August IS, 1921. 



The B. F. Goodrich Co., Akron, Ohio, has declared the regular 

 quarterly dividend of one and three-quarters per cent on pre- 

 ferred stock of record September 21, payable October 1, 1921. 



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

 its regular quarterly dividend of one and three-quarters per cent 

 on preferred stock of record August 2, payable September 1, 1921. 



The Lee Rubber & Tire Corporation, Conshohocken, Pennsyl- 

 vania, has declared its quarterly dividend of fifty cents a share 

 on common stock of record August 15, payable September 1, 1921. 



NEW YORK STOCK EXCHANGE QUOTATIONS 



August 22, 1921 



High Low 



Fisk Rubber Co.. The 9 9 



B. F. Goodrich Co.. The iO'A 29% 



Kelly-SprirfieW Tire Co 36 J4 iSYi 



Keystone T. & R. Co.. Inc.. The Uii. 12 



Lee R. & T. CorpoTatioii 24W 24!4 



United St.iles Ruijbcr Cc 46H ii'A 



United States Riibher Cf., 1st pfd 86 SS-Kl 



Last 



9 

 29^ 



12 



24 "4 

 45>^ 

 85J4 



AKRON RUBBER STOCK QUOTATIONS 



The followin.L; ,ire closing (|uotations of .August 17, supplied by 



The App-Hillman Co., Second National Building, Akron, Ohio: 



Bid .\5kcd 



American K. & T. Co.. com 30 40 



.\ma7t n Rubber Co., The • • ' ^ 



Firestone T. & R. Co., com 60 62 



Firestone T. & R. Co., 6% pfd 80 85 



Firestone T. & R. Co.. 7% pfd ?0 /I 



General T. & R. Co.. The, com. .. 200 



General T. & R. Co., The, 7% pfd 75 78 



Goodrich, B. F., Co., The, com 30 31 



Goodrich, B. F., Co.. The, pfd 70 75 



Goodrich, B. F.. Co., The. 5-yr. 7% notes 90 91 



Goodyear T. & R. Co., The, com.. 11 !1!4 



Goodyear T. & R. Co., The, 7% pfd 2TA 28 



India T. & R. Co., com • • 70 



India T. & R. Co., 7% pfd 60 70 



Mason T. & K. Co., The, cm 9!4 11 



Mason T. & R. Co., The. 7% pfd 50 56 



Marathon T. & R. Co., com 2/2 3^2 



Miller Rubber Co., The, com 55 60 



Miller Rubber Co.. The, »% pfd 62 65 



Mohawk Rubber Co., The f? 



Phoenix Rubber Co., com \' 



Phoenix Kublier Co., pfd • »" 



Portapc Rubber Co., The, coat 2 4 



Portage Rubber Co., The. 7% pfcl ■» ^ 



Republic Rujjber Corporation, com !4 A 



Republic Rubber Corporatirn. 7% pfd 7 9 



Republic Rubber Corporatirn. 8% pfd 2 4 



Rubber Products Co.. The ■ 50 



Standard Tire Co., com »" 



Standard Tire Co., pfd g}} 



Star Rubber Co., com '[J 



Star Rubber Co., 8% pfd 10" 



Swinehart T. & R. Co., co'Ti. . .. ^0 



Swinehart T. & R. Co.. 7% pfd '0 



NEW INCORPORATIONS 



Armorclad M.annfacturing Co., Inc., August 2 (New Jersey). $100,000. 

 F Bender Paterson; A. Finkcnsieper, Oifton: L. Auerbach. Passaic— all 

 in New Jersey. Principal ofSce. 37 South Fourth street. Clifton. New 

 Jersey. A?ent in charsc A. Finkcnsieper. To buy, sell, and deal in auto- 

 mobile accessories, tires, tubes, etc. ,,,.,,■ t> n 



I! & n. Tire Co. Aiieust 11 (Delaware), $50,000. J. Williams; R. O. 



Bl.nkely; F. Bradour. Delaware AKent. Capital Trust Co. of Delaware, 

 Wilmington, Delaware. To deal in antom-.bile tires 



