394 



THE INDIA RUBBER WORLD 



[May 1, 1912. 



The Rubber Goods Manufacturing Co.'s Annual Report. 



AT the thirteenth annual meeting of the stockholders of the 

 Rubber Goods Manufacturing Co.. held at its office in 

 Jersey City, New Jerse)% April 11, 1912, the president sub- 

 mitted the following report : 



The net sales for the year ending December 31. 1911, were 

 $34,587,269.15 as compared with sales of the previous year of 

 $35,188,295.40, showing a slight decrease. This is entirely ac- 

 counted for by the lower selling prices prevailing the past year, 

 as compared with the previous year, the quantity of goods sold 

 being largely in excess. 



There has been a falling off in sales of mechanical and mis- 

 cellaneous goods, due to general business conditions. Especially 

 is this true of goods sold to the railroads. On the other hand, 

 the sales of automobile and other tires have greatly increased. 



The profits are more satisfactory than in any year in the 

 history of the company, being $3,500,997.23, as compared with 

 1910— $2,122,247.62, and 1909— $2,369,971.61. the profits of 1909 

 being up to that time the largest since the organization of the 

 company. 



The president in his last annual report referred to the organiza- 

 tion of the United States Tire Co. and mentioned briefly the plan 

 of marketing through that company the entire production manu- 

 factured at the Hartford, Morgan and Wright, G. & J. and 

 Revere factories. 



The United States Tire Co. was organized for the purpose on 

 March 1, 1911; agencies have been established in many of the 

 principal cities and large expenses have been involved while 

 making the change, and it has taken the better part of last year 

 in which to perfect these organizations. However, the policy 

 has proven successful and great benefits should be derived there- 

 from in the future. 



While the development of the United States Tire Co. has been 

 going on, much progress has also been made in improving our 

 factory organizations, operations and equipment. Extensive im- 

 provements and additions have also been made at several of our 

 mechanical factories during the year. 



The twenty-story building which is being erected by the 

 United States Rubber Co. on the southeast corner of Broadway 

 at Fifty-eighth street will be ready for occupancy by the United 

 States Tire Co. within a short time. It has also been determined 

 to transfer the offices of the Rubber Goods Manufacturing Co. 

 and the General Rubber Co., as well as those of the United 

 States Rubber Co. itself, to the new building. The locating of 

 all of the principal offices of these companies in one building 

 will unquestionably result in more efficient management of the 

 business, as a whole. 



Crude rubber prices declined during the first six months of 

 1911, the fluctuations being quite marked — fine Para rubber 

 selling in March at $1.68 per pound and in June at 94 cents per 

 pound. The prices during the last six months of the year were 

 fairly steady, and at the end of our fiscal year, December 31, 

 1911, the price of fine Para was $1.04. 



Respectfully submitted, 

 Elisha S. Williams, President. 



TREASURER'S REPORT. 



(Of Rubber Goods Manufacturing Co. and Subsidiary Companies.) 



COXSOLIDATED GENERAL BALANCE ShEET, DeCEJLBER 31. 1911. 

 .\SSETS. 



Property, Plants and Investments... $26,602,908.44 



Patents and Trademarks 1,570,577.89 



Inventories, Mf'd Goods and Ma- 

 terials $10,495,130.68 



Cash 2.043,593.70 



Bills and Accounts Reccivalilc 6,915,644.60 



Stock Owned in General Kublier Co. 1,666,700.00 

 Securities Owned 383,450.00 



19,454,368.98 



Miscellaneous Assets 



Total assets 



2,050.150.00 

 292.136.03 



$49,970,141.34 



I.I.MULITIES. 



Capital Stock, Preferred $10,331,400.00 



Capital Stock, Common 16,941,700.00 



Bonds of Mechanical Rubber Co. and 

 N. Y. Belting & Packing Co. (less 

 amount owned ) 



Sinking Fund Cash in hands of 

 Trustee 



Reserve for Redemption of Bonds... 



Bills and Accounts Payable 



Accounts Payable to General Rubber 



Co 



Reserve for Federal Excise Tax 



Fixed Surplus (Subsidiary Companies) 

 Surplus 



$27,293,100.00 



974,510.00 

 302,220.94 



672.289.06 



454,326.12 

 7,164,541.31 



3,591,355.13 



34,433.81 



2,499,218.65 



8,260,877.26 



$49,970,141.34 



Of the above "Assets" and "Surplus" $185,234.21 represents the ratable 

 interest therein of minority stockholders in Subsidiary Companies of the 

 Rubber Goods Manufacturing Company. 



Contingent liabilities for certain guarantees, which are offset by cor- 

 responding contingent assets, are not included. 



Total liabilities 



co.nsolidated summary of income and profit and loss for 



Year Ended December 31, 1911. 

 ( Of Rubber Goods Manufacturing Co. and Subsidiary Companies.) 

 Net Sales $34,587,269.15 



Earnings 3,607.895.87 



Income from Investments 100,000.00 



Less : 

 Expenses of Home Office. 



$3,707,895.87 

 206,898.64 



Net Profits $3,500,997.23 



*Dividends $2,159,761.93 



Depreciation on Patents and Trade- 

 marks 46,543.43 



2,206.305.36 



Transferred from Reserves to Surplus. 



$1,294,691.87 

 407,653.72 



Surplus for the Period $1,702,345.59 



Surplus and Working Capital January 1, 1911.... 6.558.531.67 



Surplus and Working Capital December 31, 1911.. $8,260,877.26 

 Respectfully submitted, 

 Edward J. Hathorne, Treasurer. 



'Includes $79,827.93 paid minority interests in two Subsidiary Companies. 



