588 



THE INDIA RUBBER WORLD 



[September 1, 1912. 



tions are much better in the Northwest. In Oregon the mills 

 are now running nearly at full capacity, and this time last year 

 they were not running a third of their capacity, so that this 

 alone is making considerable difference in the business. 



Mat. Burns, with the Goodyear company, is getting out a new 

 tire, at their factory, which is attracting considerable attention, 



owing to its non-puncturable qualities. 



* * * 



David Dorward, Jr., formerly with the Union Oil Company, 

 is now with the General Pipe Line Co., in the capacity of con- 

 structing engineer. The rubber houses are interested in this 

 company at the present time, owing to the fact that it is pre- 

 paring to build many miles of pipe. 



Another avenue of business for the local rubber houses has 

 been opened by the Spreckels Steamship Co., which has again 

 started three large steamships on the Australia route. This line 



was laid off for eight years. 



* * * 



Ed. Garrett, formerly with the Gorham Rubber Co., and now 

 of the Garrett Callaghan Co., has been in the mountains on a 

 shooting trip for six weeks, and intends to stay there until the 

 snow drives him home. 



Mr. Cooley, formerly with the Diamond Rubber Co., has ac- 

 cepted a position with the Gorham-Revere Rubber Co., and is 

 now making the Arizona and Nevada territory. 



Jos. Francisco, W. Horn and A. Howeth, of the Gorham- 

 Revere Rubber Co., are all up in the mountains on a deer hunt. 



Mr. Oliver, who was formerly superintendent of the Amer- 

 ican Rubber Manufacturing Co., has recently started in business 

 for himself, and has opened an automobile tire repairing estab- 

 lishment in Oakland, California. 



Al. Branton, with the Gorham-Revere Rubber Co., has been 

 selected on the Alameda Boat Club crew, which will go to 

 Honolulu, to attend competitive meets. 



Mr. Rough, formerly purchasing agent for the Goodyear Rub- 

 ber Co., has severed connection with the company, and has 

 gone into the general merchandise business. 



The Western Belting & Hose Co., 518 Mission street, reports 

 great success with its Lightning Hose Rack. This device is 

 selling not only locally, but is going extensively into the 

 eastern market as well. 



DR. BAEKELAND ON OUR PATENT SYSTEM. 



"United States Patent System Leaflet No. 3," issued by the 

 American Institute of Chemical Engineers, on "The Abuses of 

 Our Patent System," by Dr. L. H. Baekeland, inventor of "Bake- 

 lite," is an excellent exposition of the very serious defects in our 

 present patent system, and a plea for a revision of present 

 methods. Here is a paragraph taken from the leaflet, which gives 

 an idea of the author's opinion of the legal processes in patent 

 cases at the present time : 



"Woe, indeed, to the poor inventor who tries to enforce his 

 rights against wealthy infringers, aided by skilful lawyers. His 

 well engraved United States patent parchment may then become 

 his certificate of entrance to the poor house, or to the lunatic 

 asylum. All this tends to discourage invention by independent in- 

 dividuals and paralyzes the stimulation of invention our Constitu- 

 tion intended to promote by the patent law. 



"In other words, although the patent law of the United States 

 is about as fine a piece of good progressive legislation as was 

 ever conceived, its enforcement in the United States courts is 

 subject to so many uncertainties, complications, delays, and to 

 such .horrible expenses, that the man with limited resources is '9t 

 an inexpressible disadvantage. 'i,. Ii 



"If any one asks my advice, whether he should take out a 

 patent or not, my invariable answer is : "Can you find the money 

 to defend your right in court? Ifnot, do not waste any time or 

 money on a patent.' " 



A POPULAR MAGAZINE'S VIEW OF A BITBBER INVESTMEHT. 



Quite a number of the popular magazines have introduced 

 a financial department, where they give inquiring readers 

 information, on request, regarding investments. In a recent 

 number of "Lippincott's" the financial expert answers the 

 question: "What is your opinion of the preferred stock of 

 The B. F. Goodrich Co?" as follows. As it is a concise pre- 

 sentation of the case we reprint his reply; 



"The B. F, Goodrich Co. was organized under the laws of 

 New York on May 2, 1912, and has acquired nearly all of 

 the property and assets of the Ohio corporation of the same 

 name, and of the Diamond Rubber Co., an Ohio corporation. 

 The balance sheet and statement of earnings vouched for by 

 Messrs. Deloitte. Plender, Griffiths & Co., chartered ac- 

 countants, shows real estate buildings, plant, machinery. 

 good will and patents worth $72,325,188.42, and current assets 

 of $26,457,507.57. The total assets of the company are $100,- 

 877,604.46. The current liabilities of the company represent- 

 ing the amount of debt outstanding against these assets are 

 $7,425,704.94. The liabilities of the company are nearly all 

 capital stock of which there is $30,000,000 of preferred and 

 $60,000,000 of common olitstanding. Including certain mis- 

 cellaneous reserves in the liabilities the company has $62,- 

 200,000 of assets in excess of its preferred stock. The gross 

 sales of the companies acquired by the Goodrich company 

 have increased from $22,580,107.63 in 1908, to $48,528,112.01 

 in 1911, and during the same period the profits have increased 

 from $4,615,098.42 to $7,805,312.48. The preferred stock calls 

 for 7 per cent, cumulative dividends and on the basis of the 

 profits of 1911 the company has earned nearly four times its 

 preferred dividend. The charter and by-laws of the company 

 provide that no mortgage can be placed upon the company's 

 property, nor can the amount of the preferred stock be in- 

 creased without the consent of three-fourths in interest of 

 each class of the outstanding stock of the company, both 

 preferred and common, and provides, also, that beginning 

 with July 1, 1914, and each and every year thereafter (until 

 all of the preferred stock shall have been redeemed) the com- 

 pany shall annually acquire by redemption or purchase at not 

 to exceed $125 per share, plus accrued dividends, at least 3 

 per cent, of the largest amount in par value of said preferred 

 stock that shall at any time be issued and outstanding. Of 

 its class this preferred stock is unexcelled. In assets, profits 

 and trade position the company is exceptionally strong." 



SAFETY FUSE. 



It cannot be said that safety fuse is especially new. As a mat 

 ter of fact, it was first invented by an Englishman, Bickford bj 

 name, 80 years ago, and patented by him at that time, but since 

 that distant day a great many improvements have been intro 

 duced. The manufacture of safety fuse was established in tht 



LInited States in 1836, m 

 Granby, Connecticut, and 

 soon afterwards moved 

 to Simsbury, Connecticut, 

 where it is still carried on 

 by The Ensign-Bickford 

 Company, successors of 

 the original inventor. 

 They make a variety of 

 safety fuses to meet dif- 

 ■ ferent conditions, their 

 fuse for use under damp 



THE ENSIGN-BICKFORD CO. 



SIMSBURY, CONN. 



conditions, and particularly where the fuse is to go under water, 

 being rendered watfe'rproof by the use of a gutta-percha covering. 

 The gutta-percha is also, in some of these varieties, rendered still 

 further waterproof' by ah application of tape so varnished as to 

 be impervious to air arid uiorsTure. ' This keeps the gutta-percha" 

 from oxidizing and considerably increases its life and usefulness. 



