484 



THE INDIA RUBBER WORLD 



[July 1, 1912. 



the work they can do, and il is very difficnlt to secure good men 

 to take the important positions held in the sales departments, 

 both in Akron and in the branches ; so that as many men, i£ not 

 more, will be employed in the sales departments as were em- 

 ployed before, and new sales branches and sub-stations will no 

 doubt be established, thus making room for men who will lose 

 positions as heads of the branch oflfices. At the same time, where 

 two branches are consolidated, the amount of business carried 

 on will not be lessened, but increased. The volume of business 

 will be greater, and consequently the number of people to take 

 care of it must be greater. This company is actively pushing 

 forward its foreign trade, and needs experienced help to handle 

 the business in foreign countries. The hardest proposition for a 

 rubber manufacturer is to secure capable men to fill the impor- 

 tant positions, and the sales department is one of the hardest for 

 which to secure them. 



The Goodrich and Diamond companies have been fortunate in 

 securing some of the most successful business men and rubber 

 experts. The personnel of the new organization will represent 

 some of the strongest talent in the rubber world. Bertram G. 

 Work will be president. His father, Alanson Work, was one of 

 the founders of the Goodrich company. Bertram G. Work is a 

 graduate of Yale. After his graduation he learned the factory 

 end of the rubber business. Starting at the bottom of the ladder, 

 he worked in all the departments of the factory. Securing a 

 thorough knowledge of this business, he was made general 

 superintendent in 1892, and served in that capacity until 1902. 

 He was then elected vice-president, and tilled that office until 

 1907, when he was elected president. The magnificent growth 

 of The B. F. Goodrich Co. has been under his administration, 

 and is largely due his efiforts. 



A. H. Marks will be vice-president and general manager of the 

 new company. He is a Harvard man. He was chemist for the 

 Boston Woven Hose and Rubber Co. from 1895 to 1896, and 

 chemist of the Revere Rubber Co., Boston, in 1897. In 1898. in 

 company with W. B. Miller, he became identified with the Dia- 

 mond Rubber Co. With them were W. B. Hardy and A. H. 

 Noah. Under this organization the Diamond Rubber Co. has 

 had its wonderful growth. Mr. Marks was president of The 

 Alkali Rubber Co. His organizing ability and his knowledge as 

 a rubber expert have given him the soubriquet, "Wizard of the 

 Art." 



E. C. Shaw, a Yale man, will be one of the second vice-presi- 

 dents and works manager. Mr. Shaw is an engineer of high 

 standing, and an organizer of much experience and ability. He 

 has been identified with The B. F. Goodrich Co. since 1895. 



H. E. Raymond, sales manager of The B. F. Goodrich Co., and 

 W. B. Miller, who held the same position with the Diamond 

 Rubber Co., will have charge of the sales department of the new 

 company. H. E. Raymond will have the title of second vice- 

 president and sales manager, and Mr. Miller that of second 

 vice-president and assistant sales manager. Mr. Raymond has 

 been closely identified with The B. F. Goodrich Co. for years, 

 having successfully officiated in several capacities, and the great 

 volume of trade, the thorough manner of covering the rubber 

 field, both national and international, by this company, are at- 

 tributed largely to the untiring efforts of Mr. Raymond. 



W. B. Miller in 1898 was assistant manager of The Revere 

 Rubber Co. Since that time he has been connected with the Dia- 

 mond company. It is said that he entered the Revere company 

 as an office boy, and later became salesman, and in fifteen years 

 became assistant manager. Mr. Miller's experience, generalship, 

 knowledge of men and salesmanship, have made The Diamond 

 Rubber Co.'s selling force the compact and efficient power for 

 business that it is today. 



C. B. Raymond, secretary of the new company, has been con- 

 nected with the Goodrich company for many years. His expe- 

 rience and ability have thoroughly equipped him for the duties 

 of this new position. 



W. A. Means, treasurer of The B. F. Goodrich Co., will be 

 treasurer of the new company. He is a financier of large expe- 

 rience, and has been w-ith The B. F. Goodrich Co. for some 

 time. 



The other officers of the board will be F. A. Hardy, chairman 

 of the board ; F. H. Mason, vice-chairman of the board, and G. E. 

 Norwood, assistant treasurer. 



STATEMENT OF THE B. E. GOODEICH CO. OF NEW YORK, AND 

 SUBSIDIARY COMPANIES. 



The following is the consolidated balance sheet showing the 

 position of the company as at April 1, 1912, after the issue of its 

 capital and the taking over of the assets and liabilities of the 

 B. F. Goodrich Co. of Ohio and the Diamond Rubber Co. of 

 Ohio. 



Real estate, buildings, plant, machinery, goodwill, 

 patents, etc., less unmatured purchase monev 



mortgage of $30,000.00 $72,325,188.42 



Investments in Other Companies 1,650,236.89 



Stock in Treasury 266,990.38 



Current Assets : 



Inventory of materials and sup- 

 plies, goods in process and fin- 

 ished products, partly estimated 



Trade accounts receivable less re- 

 serves for bad debts, discounts, 

 etc 



Other accounts receivable 



Bills receivable 



Cash in banks and on hand 



$17,776,579.76 



5,035,571.22 



1.791.581.29 



463.037.05 



1,390,738.25 



Prepaid insurance, 

 future operations 



interest, etc., chargeable to 



C'^piTAL Stock : 

 600.000 shares of common stock 



of $100.00 each 



300,000 shares of 7 per cent, 

 cumulative preferred stock of 

 $100.00 each 



(Redeemable in case of dissolution, 

 liquidation, merger or consoli- 

 dation at $125.00 per share) . . . - 



Surplus 



26,457,507.57 



177,681.20 



$100,877,604.46 



$60,000,000.00 

 30,000.000.00 



Current Li.\bilities : 



Bills payable $4,310,665.23 



Accounts payable 1,173,811.75 



Sundrv' accruals 153,542.98 



The B. F. Goodrich Co. of Ohio 937,684.98 



The Diamond Rubber Co. of Ohio 850,000.00 



Miscellaneous Reserves 



$90,000,000.00 

 2,200,000.00 



7,425,704.94 

 1,251,899.52 



$100,877,604.46 



The combined profits of The B. F. Goodrich Co. for the period 

 from January 1. 1908, to December 31. 1911. and of The Diamond 

 Rubber Co. for the period from October 1, 1907, to September 

 30, 1911, after charging all expenses of manufacture and manage- 

 ment and selling expenses but before providing for Depreciation 

 of Property and Plant, and the combined gross sales, were 

 respectively as follows, including in each instance the operations 

 of the Goodrich Company for the calendar year and of the 

 Diamond Company for the fiscal year ended September 30. 



Profits. Gross Sales. 



1908 $4,615,098.42 $22,580,107.63 



1909 8,063,146.60 32,087,854.03 



1910 6.384,059.56 45,800.534.93 



1911 7,805,312.48 48,528,112.01 



the Profits being equal to an average per annum of $6,716,904.26. 



The stockholders of The Goodyear Tire and Rubber Co. voted 

 on May 28 to increase the company's capital stock from five mil- 

 lion to ten million common, and from one million to five million 

 preferred. C. W. Seiberling. vice-president of this company, 

 states that the five million preferred will be issued at once. In- 

 stead of being redeemable at 105, as it is at present, it will be re- 



