442 



THE INDIA RUBBER WORLD 



March 1, 1921 



However, the directors will consider the advisability of appro- 

 priating to reserves a sum. not exceeding $6,000,000 from the 

 net surplus for the year 1920. 



.A substantial part of the inventory shrinkage applies to cot- 

 ton fabrics made to the company's own specifications and neces- 

 sarily ordered well in advance. On the basis of fairly normal 

 business all contract fabrics will soon be consumed. The com- 

 pany has had no forw^ard contracts for crude rubber and has 

 taken advantage of prevailing low market prices, .^t the close 

 of the year there was on hand and subject to delivery about 

 seven months' supply at an average cost of 26.79 cents per pound, 

 making it unnecessary to write off anything on account of crude 

 rubber. .\ short inventory position on all other materials and 

 supplies has enabled taking advantage of declining prices, with 

 the result that inventories are considered fair on the basis of 

 the prevailing market. Discounts for prompt payment of pur- 

 chase invoices have substantially excce<led the interest paid on 

 current borrowing. 



Chairman .Samuel P. Colt points out that with the fall in prices 

 of materials and supplies, inventories should come down and 

 current borrowing be proportionately reduced. Operations for 

 the year 1921 will obviously get the benefit of writing down in- 

 ventories, and while, owing to general bitsiness conditions, the 

 present outlook is not what it was a year ago, there are signs 

 of improvement in trade, and considering the large and diversified 

 product of the company it is believed that earnings will be satis- 

 factory to stockholders. The larger part of the new construction 

 laid nut prior to 1920 has been completed and paid for so that 

 no additional expansion of fixed properties will be necessary for 

 some time. 



The chief items of the preliminary general balance sheet as of 

 December 31 for the years 1919 and 1920 are as follows: 



1920 1919 



Current assets $195,505.2-43 $161,875,05- 



Total asbcts - 389.245.980 319,534.20-i 



Current liabilities 66.425.626 24.332.718 



Total liabilities 153,452.426 92.139,718 



Reserves 29,459.852 33.074.447 



Capital .stock 146,277,200 135.300,600 



Surpluses 60,056,502 59.019.438 



Total liabilities, reserves ami caiiital 389,245.980 319.534.204 



DIVIDENDS DECLARED 



Stock of 



Company Stock Kate Payable Record 



American Chicle Co Pfd. l^%q. Apr. 1 Mar. 19 



Brunswick-Ralke-Collender Cti , . . ".A" Com. lVi% i\. Feb. 15 Feb. 5 



General Electric Co Com. $2 q. .'\nr. 15 M.ir. 9 



Crtjodrich. B. F. Co., Tbe Pfd. 1 J4 % q. Apr. 1 Mar. 22 



Hood Rubber Co Pfd. 1M% q. Mar. 1 Feb. 21 



Miller Robber Co.. Tbe Pfd. 2% q. Mar. 1 Feb. 10 



Rub Tex Products, Inc Pfd. 7% an. Feb. 1 



Tver Rubber Co Pfd. $1.50 q. Feb, 1 5 



AKRON RUBBER STOCK QUOTATIONS 



The following are closing quotations of February 17, s 



by The .'Kpp-Hillman Co., Second National Building, Akron, 



Bid 



American R. & T. Co., cent 4iJ 



Amazon Rubl>er Co.. Tbe 



Firestone T. & R., Com 7" 



Firestone T. & R., 6% pfd 84 



Firestone T. & R.. 7% |ifd SO 



C.eneral T. .«; R. Co.. The, com 180 



C.eneral T. & R. Co., The. 7% pfd 80 



noodrich. B. F.. The. com 39 



CKXxiricb. B. F.. The, pfd 82 



(.oodrich. B. F., The, 5-vr. 7% notes 90 



Goodyear T. & R. Co., The, com 13 



Goodyear T. & R. Co., The. 7% pfd 30'/. 



India T. & R Co., com lOO 



India T. & R. Co.. 7% pfd 



Mason T. & R. Co.. The. com 17 



Mason T ft R. Co., The. 7% pfd : 64 



Marathon T. & R. Co., com 3 



Miller P.ubber f:o., Tb'i. com 84 



Miller Rubber Co.. The. 8% pfd 86 



Mohawk Rubber Co., Tbe 141) 



PorlaRc Ri-bbcr Co., Tbe, com 17 



PortaKC Rubber Co., 1 he, 7% pfd 



Republic Rubber, com }i 



Republic R-:bl)er, 7% pfd 



Republic Rubber, R% pfd..., 9 



Rubber Products Co.. The. . ; ; 



Star Rubber Co.. com 



Star Rubber Co. 8% pfd .' 



Swinehnrt T. .>; R. cini... : 30 



Swinchart T. f: R.. 7% pf-l 



upplied 

 Ohio: 



Asked 



65 



45 



Si 



87 



83 

 .?05 



85 



39',S 



83 



90M 



13-V4 



31 

 130 



80 



20 



66 

 4 



85 



87 

 152 



19 



42 

 1 



30 



11 

 lOO 

 100 

 100 



40 



?0 



l;id Askc.i 



Phoeni.v Rul-ber (. o.. com 18 



PhienLt Rubber Co., pfd 88 



Standard Tire Cp.. com 100 



.Standard Tir.- Co.. pfd 90 



NEW YORK STOCK EXCHANGE QUOTATIONS 



Fecrl'/.rv 24, 1921 



Mi^h Low Ijist 



Ajax Rubber Co.. Inc 28"/. 25H 25J4 



The Fisk Rubber Co 14i^ 14 14 



The H. 1\ 'loodrich Co 36!4 34'/i 35% 



The 11. F. t.oodrich Cc, pfd 78 78 78 



KcllySprinclicId Tire Co 44 39 39'4 



Kclly-Spriniffield Tiro Co , pfd 



Keystone T. & R. Cr., Inc IS/j 14K iSH 



I.ee R. & T. Cori: 20M 20^ 20Ji 



United States Rubber Co 68Vi 65^ 66!.4 



United States Rubber Co., 1st pfd .. .. ' 



NEW INCORPORATIONS 



.\cmc Mia. Corp.. February 15, 1921 (New York), $15,000. L. B. 

 Wishnevsky, 422 Lenox Road; L. N. Larson, 4814 New Utrecht avenue, 

 both in Brooklyn; W. F. White. 250 West 103rd street, New York City — 

 both in New York. To manufacture auto rims. 



.•\rmorcord Co.. Inc., February 9. 1921 (Maine), $100,000. D. O. Camp- 

 bell, president and treasurer; J. H. Hudson, clerk — both of Sangerville, 

 Maine. Principal office. Sangerville, Maine. To m.inufacture and repair 

 automobile tubes and tires. 



.\siatlc Rubber Import Corp., January 28, 1921 (New York), $25,000. A. 

 Marcus. 912 Tiffany street; D. Kolkin, 943 East 179th street; J. Zaiowitz, 

 35 Norfolk street — all of New York City. 



Automobile Tire Co. of California. December 27, 1920 (California), $150.- 

 000. H. A. Demai-est. Bryson .^pts., 2701 Wilshire Blvd.; E. W. Demarest, 

 2806 Dalton avenue; J. A. Leuthold, 1232 West Fifth street — all of Los 

 .\ngeles, California. Principal office, Los .Angeles, California. To manu- 

 facture, buy, sell and deal in rubber tires and tubes, etc. 



California Rubber Co., October 1, 1920 (California), $5,000,000. R. L. 

 Brown, president; H. P. .\dams, vice-president and treasurer; J. R. Jones, 

 secretary; R. F. Boyles and .\. E. Littler, directors — all of 2 Pine street, 

 San Francisco. California. Principal office. Oceanic Building. 2 Pine street, 

 San Francisco, ("alifornia. To manufacture tubes, tires and rubber f'oods. 



Camp Tire Co., Inc.. February 1. 1921 (New York). $20,000. Geo. E., 

 Harold H. and (^lenevieve H. Camp — all of Utica, New York. Principal 

 office. Utica. New York. 



Eagle Belting Corp., February 11, 1921 (New York). $150,000. J. H. 

 Zimon, 749 Fillmore avenue; J. Pryzgucki, 261 Chandler street, both of 

 Buffalo; S. Pryzimski, Post Office Box 478, N. Tonawanda — both in New 

 York- Principal office, Bu*Taloi, New York. To manufacture leather and 

 rubber belting, et'-. 



Economy Tire Exchange, Inc., December 23, 1920 (New Jersey), $100,- 

 nOO. H. Cohen, 197 Livingston street; H. A. Harrison, 220 Weequahic 

 avenue; H. Setten, 3S1 Peshine avenue — all of Newark. New Jersey. Prin- 

 cipal office, 9-15 Clinton street, Newark, New Jersey, .\gent in charge, M. 

 Rashkes. To deal in tires and automobile accessories of every kind. 



Ellicott Tire & Repair Co., Inc., Februai-y 3, 1921 (New York), $20,000. 

 Leonard S. and \Y. Kenneth .Mien, 320 Sumner street; T. R. Wheeler, 170 

 Anderson Place — both of Buffalo, New York. Principal office, Buffalo, 

 New York. To repair automobile tires. 



Eskridge Tire Co., October 18, 1920 (Maryland), $100,000. D. R. Esk- 

 ridge; M. R. Robinson; I. Michaelson; F. Caplan. Principal office, 868 N. 

 Howard street, Baltimore, Maryland. To purchase and sell tires of all 

 kinds. 



Hansen Wind Shield Cleaner Co.. February 7, 1921 (New York), $300,- 

 OOO. H. P. Hansen; W. E. Caldwell; H. Bjornwaldo— all of 25 Park 

 avenue. New York City. 



Ibex Rubber Corp.. February 7. 1921 (Delaware), $125,000. G. O. 

 Smalley. Round Brook; W. F. Jennings. Plainfield — both in New Jersey; 

 11. J. Lindsley, Detroit, Michigan. To manufacture rubber and rubber 

 products. 



l.ockuood Tire Si Mfg. Corp., February 18, 1921 (Delaware), $2,500,000. 

 (). .M. l.ockwood; H. J. Clay; R. Becker— all of Buffalo, New York. To 

 manufacture tires. 



Manhattan Tire Corp.. February 3, 1921 (New York), $75,000. W. 

 Keaney. 144 West 54th street; E. Antkes, 701 Seventh avenue; R. A. 

 Wicksel, 15 East 40th street — all of New York City. To manufacture 

 automobile tires. 



MasterCraft Fountain Pen Corp., February 7, 1921 (New York). $250,- 

 000. M. E. and I. H. Hcilbrun; .-V. A. Flescbcr— all of 59 Park Place, 

 New York City. To m.inufacturc fountain pens. 



Nu-Air Tire & Rubber Corp.. February 8, 1921 (Delaware), $1,000,000. 

 T. L. Croteau; M. A. Bruce; S. E. Dill— all of Wilmington, Delaware. 

 To manufacture tires. 



O. C T. Sectional Tire & Rubber Co.. February 8, 1921 (Delaware), 

 $1,000,000. J. B. O'Connor; L. T. Atwater; S. L. Carter — all of Kansas 

 City. Missouri. To manufacture and sell jineumatic tires. 



Philadelphia Vulcanizing Machine & Rubber Co.. January 27. 1921 (Dela- 

 ware). $50,000. R. Sattertbwait; M. Daniel; M. Kosher — all of Philadel- 

 phia, Pennsylvania. To manufacture tires and tubes. 



Red Raven Rubber Co.. January 26, 1921 (New Jersey), $62,750. J. 

 II. Dwork; A. Freedman; D. Feingofd — all of 152-158 Sussex avenue, 

 Newark, New Jersey. Principal office. 152-158 .Sussex avenue, Newark, 

 New Jersey. Agent in charge. J. H. Dwork. To manufacture, buy, sell, 

 export all kinds of rubber tires and tubes, etc. 



Watertown .Steam Vulcanizing Works, Inc.. February 11, 1921 (New 

 York), $25,000. E. B. Salmon, Jr.; C. J. Grabosky; G. W. Fox — all of 

 Syracuse, New York. Principal office, Watertown, New York. To repair 

 tires. 



Wids Co., The. January 20, 1921 (Massachusetts), $300,000. B. Sander- 

 son; II. L. F. Kreger; R. R. Wigglesworth ; W. S. Felton; B. Harwoojl; 

 E. T. Connolly — all of 84 State street. Boston. Massachusetts. Principal 

 office, Boston, Massachusetts. To manufacture and deal in rubber products, 

 etc. 



Wonder Garter Co., January 7, 1921 (Massachusetts), $100,000. J. J. 

 Moore. Hingham; A. P. Watson. 105 Middle street, Braintree; J. Kelley. 

 342 Washington street, Weymouth- — all in Massachusetts. To manufacture 

 and deal in furnishing goods of all kinds including garters, supporters, 

 elastic goods, webbing, etc. 



