378 



THE INDIA RUBBER WORLD 



[May 1, 1912. 



THE RUBBER TRADE IN AKRON. 



By a Resident Corrcs/'OiHlciil. 

 D UBBER stocks in Akron have been "very active again this 

 ■* ^ last month. The directors of The Goodyear Tire and 

 Rubber Co. took definite action on the proposed refinancing. The 

 new capital will be ten million common and five million preferred, 

 of which five million common and two million preferred will be 

 issued, leaving five million common and three million preferred 

 in the treasury. The present capital is $2,500,000 common, of 

 which $2,284,100 is outstanding and one million preferred is out- 

 standing. The present holders of common will get 100 per cent, 

 common bonus and the right to subscribe for $341,800 of new 

 common at par. The old preferred is to be retired at 105, and 

 holders have the right to subscribe for the new preferred, share 

 for share, at par, after which rights to the new preferred revert 

 to the common stock. The new preferred is 7 per cent, cumula- 

 tive, and is retirable after 1915 at 120. In the meantime the five 

 million common and three million preferred held in the treasury 

 will be used for the best interests of the company. It is not 

 stated what dividend the new stock w-ill pay. The new capital 

 seems well within the range of the earning power of the com- 

 pany. The old Goodyear common has been selling at from 

 450 to 460. 



Diamond Rubber stock has been selling at from 320 to 325. 

 The new Goodrich preferred is over-subscribed, it is claimed, 

 for nearly double the amount of stock. Firestone common has 

 been selling in the neighborhood of 246, and Miller at 166 to 168. 



The B. F. Goodrich Co. has just paid the regular quarterly 

 dividend on both common and preferred. The Diamond Rubber 

 Co. quarterly dividends were paid on the 20th, and Firestone 

 common and preferred were paid April IS. The Swinehart 

 quarterly dividends will be paid the fore part of May. 



This new stock issue of the Goodyear is subject to the ap- 

 proval of stockholders at an early nieeting. It. no doubt, will be 

 approved. * * * 



The B. F. Goodrich Co. has published a neat and instructive 

 catalog covering the Pacific Coast service. This gives photo- 

 graphs of points of interest along the Pacific Coast, pictures of 

 each of the persons in the various branch offices, the various 

 routes, pictures of crowds attending the "Tree-to-Tire" enter- 

 tainments, and illustrations of the advantages of Goodrich tires. 

 * * * 



The Goodyear Tire and Rubber Co. is establishing a branch 

 in the City of Mexico, having leased a three-story building at 

 the coriaer of Avenida Juarez and Baldaras. J. C. MacFaydean. 

 formerly in charge of the Indianapolis branch, will have charge 

 of the Mexico City branch. S. F. Fuller will be secretary and 

 treasurer. 



::< ^ :!; 



Mr. Edward C. Newbower, who for several years has been 

 connected with The Standard Tire Protector Co. of Akron, is 

 manager of their branch in San Francisco, California. 



:;: * * 



The American Tire and Rubber Co. have commenced active 

 operations and have a complete plant. They have been having 

 success in the sales of their five-minute cure cement and are 

 strengthening their inner tubes between the beads and where 

 they come in contact with the rim, thus making that part of the 

 tube which suffers the most wear, more able to withstand it. It 

 is claimed that its construction, together with its toughness, pre- 

 vents the tube from becoming pinched between the bead of the 

 casing and holds it vise-like ; a rusty and uneven rim causing 

 blow-outs and in general shortening the life of the tube. 



^ '' ■ * -4; * 



Mr. F. H. Mason, vice-president of The R. F. Goodrich Co., 

 donated 20 acres to the city of .\kron for playgrnund purposes. 

 and in addition agreed to donate to the city $3,000 per year for 

 three years towards its maintenance, provided the city would 



improve the property so it qould be used this summer. This 

 offer was accepted. This land is located along the Little Cuya- 

 hoga River Valley between Lods and North streets, and within 

 a mile of the center of .'\kron. This park is to be called Eliza- 

 beth Park, in memory of his daughter, who died recently, and 

 is suitably located, this lieinc a residence district for people of 



Curtis Hydro-Aeropl.^ne at San- Diego, Cal. 



limited means where a park that will give bathing, skating and 

 room for all athletic games will be very beneficial and highly ap- 

 preciated. Mr. Mason is highly praised for his generous gift. 

 * * * 



Melvin Vaniman has spent the winter relniilding and repairing 

 the balloon "Akron," which will have neither a wire envelope 

 nor a rubber bag. The "Akron" will make the trip across the 

 ocean as soon as there is assurance of good weather. Mr. F. A. 

 Seiberling, president of The Goodyear Tire and Rubber Co., 

 announces that he will manufacture and market the recent in- 

 vention of Mr. Vaniman which solves the problem of equilibrium 

 of the dirigible balloon. Mr. Seiberling says: "I believe Mr. 

 Vaniman's invention is practical and sane and will make an air- 

 ship safe as far as equilibrium is concerned. We will manufac- 

 ture these rubber bags, which will be the air ballast of the dirig- 



SinE View of Curtis Hyiiro-.Veroplane. 



iblc. as soon as the minor details are worked out. Tlicse machines 

 are practical and can carry freight as well as passengers.'" 



* * * 



Are the aeroplane and hydroplane practical? — The success 

 of Lieutenant T. Gordon Ellyson and John T. Powers in flying 

 an aeroplane over Chesapeake Bay from Annapolis to Buckroe 

 Beach, a distance of 145 miles in 147 miiuites, and the fact that 

 Glenn H. Curtiss daily in his school at San Diego, California, is 

 enabled with his hydro-aeroplane to rise from the water, secur- 

 ing almost any altitude desired, landing at tmies on a wharf or 



