256 



THE INDIA RUBBER WORLD 



[April i, 1904. 



MR. BANIGAN AS A LABOR AGITATOR. 



THE late Joseph Banigan, who started life as a mixer in a 

 rubber mill at $1.25 a day and no "overtime," and who 

 became one of the wealthiest rubber manufacturers in Amer- 

 ica, once told in strict confidence the following personal expe- 

 rience : 



"When I was a grinder man there was a man worked beside 

 me who was a natural born organizer and politician. He had 

 great ideas about the rights of the working man, and proved to 

 me over and over again that no capitalist could exist if it was 

 not for labor ; that it therefore followed that the laborer should 

 have more say about what he did, that he should work fewer 

 hours, get better pay, and in fact, be a sort of partner of 

 the boss. One of his particular ideas was that a mill man 

 should work only at mixing and warming, that a man who ran 

 a calender should not be asked to do anything else. If a man 

 was put on the heel press, he should stay there at full pay, even 

 if the press was idle, and not be required to sort lasts, or help 

 in the varnish room. His ideas got a strong hold on me until 

 I talked them over with my mother. She soon put a ' bee in my 

 bonnet." 



"'Joseph,' said she, 'do any blessed thing the boss tells 

 you. If you stay on the mixing mill, a dollar and a quarter 

 a day is all you will earn, and all you will get, till the day 

 of your death. Learn to do everything. Stay in the factory 

 till morning if necessary, and you will get more money and 

 may be boss yourself some day." 



"That was the turning point in my career," said Mr. Ban- 

 igan. " I simply took hold of every job and mastered it, and 



in time became, as you know, fairly successful." 



"What about your friend, the man with the ideas?" he 

 was asked. 



" Poor fellow ! He didn't get on very well. He was em- 

 ployed by various mills, but somehow he never had a good 

 job long. At present — I don't know as I should tell it, he is 

 — well, he is getting §2 a day in one of my mills, and I am 

 afraid he doesn't quite earn it. But he is an authority on the 

 ideal relations between labor and capital," said Mr. Banigan, 

 with a twinkle in his eye. 



FOR ALL BLACK RUBBER COMPOUNDS. 



THE many uses to which bituminous products have been put 

 in compounding India-rubber have induced the largest 

 producer of these products in the world — the Barber Asphalt 

 Paving Co. — to establish a New York testing laboratory, and to 

 retain for its director Mr. Clifford Richardson, who has spent 

 several years in investigating the physical conditions of all sorts 

 of bitumen. The result already is that this company, who have 

 long been known to be the pioneers in the manipulation and 

 processing in these materials, are able to-day to furnish prod- 

 ucts different from any on the market and in every way most 

 uniform and satisfactory. In other words, this laboratory pro- 

 duces bitumens of almost any character that the rubber manu- 

 facturer may desire. For example, one of their products, the 

 " Genasco M. R. Hydro-Carbon," made from the highest class 

 of asphalt, is already getting a strong foothold in the rubber 

 trade because of its marvelous adaptability to certain wants in 

 the country. 



REVIEW OF THE CRUDE RUBBER MARKET. 



PRICES of crude rubber during March have been on a 

 steady advance. There has been no reaction whatever 

 in the majority of the grades. New Upriver fine began 

 the month about $1.06 <g> $1.07, and increased steadily 

 until it closed about $1.10 @ $1.11. There was not a single set- 

 back or period of sagging. The same was true of other Para 

 grades, except that Islands was a trifle higher about the 18th or 

 19th of the month than at the close. New Islands fine opened 

 about $1.03 and steadily advanced until it was sold at somethirg 

 like $1.09 @ $1.10 about the date mentioned, stocks being ex- 

 ceptionally light at that time. Subsequently the quotations 

 eased off about 2 cents. 



In Africans prices have steadily and rapidly advanced. Prime 

 Lopori strip, which was thought to be high at 85 @ 86 at the 

 first of the month, was hardly obtainable at less than 93 at the 

 close. The Antwerp auction on March 18 disclosed the fact 

 that the offerings were comparatively poor and small, and that 

 the bidders were eager and numerous. Only 297 tons were 

 offered, and this was mostly in small lots, with many inferior 

 parcels. The valuation estimated was an average of 15 cen- 

 times above the sales of February, and the prices brought at 

 the auction were from 50 to 55 centimes above the valuation. 

 American firms bought very little, their bids for the most 

 part being too low. One importer, for instance, sent a bid for 

 75,000 pounds at 1% cents above valuation, but the rubber he 

 wanted sold at \%. cents above valuation. Further details ap- 

 pear in another column. 



There is very little crude rubber to be had on the market, in 

 spite of the unusually large receipts during the past two 

 months. Importers are sold out in advance of arrivals, and 



none of them is able to carry any stock. The manufacturers 

 except a few of the very large ones, are believed to be without 

 stocks and are eagerly inquiring for rubber, in many instances 

 for immediate necessities. The big combination companies are 

 fairly well supplied, having received the greater part of the re- 

 cent heavy importations. The Rubber Goods Manufacturing 

 Co. not only has its factories well fitted up, but has stored a 

 large quantity in its new warehouse at Passaic, New Jersey. 

 The United States Rubber Co. has been a large importer of rub- 

 ber, and also a large buyer in the home market, and, it is under- 

 stood, is fairly well supplied. A few other large companies are 

 also apparently easy, but most of the smaller concerns are anx- 

 ious seekers for crude rubber. 



The official figures from the United States customs service 

 indicate the heavy rate of importations of rubber of late, as 

 compared with former years. The figures show the volume of 

 imports of rubber, of all grades, for the first eight months 

 July to February inclusive) of the three past fiscal years: 



Pounds. 



July I, 1 90 1, to February 28, 1902 32,891,798 



July I, 1902, to February 28, 1903 34>579.4^4 



July 1, 1903, to February 29, 1904 38,667,140 



Taking into consideration the invoice values of the rubber 

 imported, the average value of all grades, per pound, has been 

 as follows: 



July 1, 1901, to Februaay 28, 1902 49.3 cents. 



July I, 1902, to February 2S, 1903 54.3 cents. 



July I, 1903, to February 29, 1904 67.9 cents. 



The average import price for the last eight months would 

 appear, therefore, to have been 37^ per cent, higher than for 

 the corresponding eight months two years ago. 



