May i, 1904.] 



THE INDIA RUBBER WORLD 



283 



RUBBER GOODS MANUFACTURING CO. 



BALANCE SHEET. 



[In the report as presented, all statements referred only to the last business year. But for convenience of comparison, the 

 corresponding figures for the three previous years are here included, as- shown in the respective annual reports. For earlier 

 figures, reference is made to The India Rubber World of May I, 1903— page 26-.] 



Cash 



Mortgage notes (for property sold) 



Accounts receivable 



Treasury stock at cost 



Plants owned 



Office furniture and fixtures owned 



Net earnings of properties less amount 



received to date 



Investments, Stocks of allied companies. 



Mar. 31, rg04- 



Hills payable (for money borrowed) ... . $ 



Accounts payable, to allied companies. . 



Accounts payable, to others 5,651.67 



Deposits by companies 



Preferred stock 8,051,400.00 



Common stock 16,941,700.00 



Total $24,998,751.67 



Surplus. 



THE fifth annual 

 meeting of the 

 shareholders of 

 the Rubber 

 Goods Manufacturing 

 Co., incorporated under 

 the laws of New Jersey, 

 was held on April 14, at 

 the registered offices of 

 the company in that 

 state, in Jersey City. 

 The annual report of 

 the president, Charles 

 H. Dale, presented in 

 printed form and read 

 at the meeting, follows 

 in full: 



"In connection with 

 the statement of the au- 

 ditors for the year end- 

 ing March 31, 1904, I 

 wish to draw attention 

 to the fact that while 

 business was good dur- 

 ing the first half of the year 1903, the general depression in 

 trade throughout the entire country commencing in August, 

 1903, has been keenly felt by the rubber industry. Notwith- 

 standing this, the sales for the year show an increase over pre- 

 ceding years. 



" In considering the percentage of profit, it must be borne in 

 mind that although the percentage is slightly lower than 

 last year, this is in face of the enormous increase in the cost 

 of crude material — notably rubber and cotton. 



" The closest attention has been paid to the maintenance of 

 the plants, the sum of $209,644.73 having been expended dur- 

 ing the past year for this purpose as against $149,576.65 for the 

 previous year ; so that it is fair to say that all the properties 

 are to-day practically as good as new. 



" Finally, where an appraisal of quantities and values has been 

 necessary, as in stock on hand and accounts and bills receiv- 

 able, it has been made on a most conservative basis; and I can 

 personally guarantee that the appraisals, both as to quantities 

 and value, are in every instance under, rather than over true 

 values." 



The customary annual business reports were presented, ac- 

 companied by a certificate by the company's auditors, Messrs. 

 Bragg & Marin, certified public accountants, and the whole 

 approved. 



THE NEW DIRECTORATE. 



The annual election for directors resulted in the choice of 

 the following, the first nine named being reelected : 



Charles H. Dale, No. 16 Murray street, New York. 

 Ernest Hopkinson, No. 253 Broadway, New York. 

 Talbot J. Taylor, No. 30 Broad street, New York. 

 Harry Keene, No. 253 Broadway, New York. 

 Charles A. Hunter, New Durham, New Jersey. 

 Frank W. Eddy, Detroit, Michigan. 

 Edward Lauterbach, No. 22 William street, New York. 

 Arthur L. Kklley, Providence, Rhode Island. 

 William T. Cole, No. 68 Murray street, New York. 

 Howard O. Smith, president Indianapolis Rubber Co., Indianapo- 

 lis, Indiana. 



ASSETS. 



Mar. 31, 1904, 



$305,848.98 



31,000.00 



3,920.68 



Mar. 3r, 1903. 



$ 56,619.36 



31,000.00 



205,537-13 



3.547.08 



25,015,279.69 



120,000.00 

 1,026.80 



Dec. 31, r9or.* 



$ 74.323 07 



15,000.00 



876,856.83 



292,443.00 



110,856.05 



Feb. 1, 1901. 

 $.125,746.12 



45.5S5.I9 



24,808,279.69 24,928,646.83 



1,271,783.77 

 25.141,149 09 



Total $25,359,596.43 $25,222,462.98 $26,298,125.78 $26,884,264.47 



liabilities. 



Mar. 3t, 1903. 



Dec. 31, 1901. 

 $ 450,000.00 

 597,326 42 

 53.65744 



8,051,400.00 

 16,941,700.00 



8,051,400.00 

 16,941,700.00 



Feb. 1, 1901. 



405,317-33 



8,051,400.00 



16,941,700.00 



$360,844.76 



$24,993,100.00 

 $229,362.98 



$26,094,083 86 

 $204,041.92 



$25,398,417.33 

 $1,485,847.14 



Charles J. Butler, manager Morgan & Wright, Chicago, Illinois, 



William Seward, Jr., treasurer Hartford Rubber Works Co., 

 Hartford, Connecticut. 



E. J. Coughlin, general factory manager, Mechanical Rubber Co. 



W. J. Courtney, railroad manager Peerless Rubber Manufacturing 

 Co. 



John H. Cobb, general manager the New York Belting and Packing 

 Co., Limited. 



The retiring directors were Middleton S. Burrill, Henry 

 Steers (deceased), Henry R. Wilkening, James B. Taylor, 

 Lewis D. Parker, and H. Carroll Winchester. 



The new executive committee consists of Messrs. Dale, Hop- 

 kinson, Keene, Taylor. Hunter, Seward, and Coughlin. 



At a meeting of the reorganized board the following were 

 elected officers for one year : 



President and Chairman Executive Committee — Charles H. Dale. 



Vice Presidents — Ernest Hopkinson, Talbot J. Taylor, and 

 Charles A. Hunter. 



Sectetary and Treasurer — Harry Keene. 



Assistant Secretary and Treasurer— J AMES McGuFFOG. 



The company's sales for 1903 were reported at $14310,752. 

 In preceding years they had been : $13,999,329 in 1902 ; $14 348, 

 048 in 1901 ; $13,364,090 in i9co.==The year's earnings amount 

 to nearly 14 per cent, on the business of $14,000,000. 



INCOMES AND DISBURSEMENTS. 

 For Year Ending March 31, 1904. 



Balance brought over from 1903 $ 229,362.98 



Income from dividends declared by allied companies for 



year 880,468.72 



Interest account— excess of receipts over payments for 



year 5,58404 



Total $1 ,115.415.74 



. Expenses paid for year $103,701.60 



Charged off, loss on properties, contracts, 



guarantees, and for depreciation 87,271.38 



Total expenses, etc. 



190,972.98 



Net income $924,442.76 



Four dividends paid to March 3r, 1904, preferred 563,598.00 



Balance, surplus $360,844.76 



