October 1, 1919. 



THE INDIA RUBBER WORLD 



News of the American Rubber Industry. 



DIVIDENDS. 



THE Aja.x Rubber Co., Inc., New York City, has declared a 

 quarterly dividend of $1.50, which was payable September 15 

 on slock of record August 30, 1919. 



The Apsley Rubber Co., Hudson, Massachusetts, has declared 

 its semi-annual dividend of three and one-half per cent, payable 

 October 1 on common stock of record September 30, 1919. 



The American Chicle Co., New York City, has declared its 

 quarterly dividend of one and one-half per cent, payable Oc- 

 tober 1 on preferred stock of record Septembei 21, 1919. 



The Firestone Tire & Rubber Co., Akron, Ohio, has declared 

 its regular quarterly dividend of one and one-half per cent, 

 payable September 20 on common stock of record September 

 21, 1919. 



The General Electric Co., Schenectady, New York, has de- 

 clared its quarterly dividend of two per cent on stock of record 

 September IS, payable October 15, 1919. 



Globe Rubber Tire Manufacturing Co., Trenton, New Jersey, 

 has declared its quarterly dividend of one and one-half per 

 cent paj'able September 15 on stock of record August 3, 1919. 



The B. F. Goodrich Co., Akron, Ohio, has declared its quar- 

 terly dividend of $1 a share, payable November 15 on common 

 stock of record November 5, 1919. 



The Kelly-Springlield Tire Co., New York City, has declared 

 its quarterly dividend of $1.50 per share, payable October 1 on 

 its six per cent preferred stock of record September 15, 1919. 



The Keystone Tire & Rubber Co., New York City, has de- 

 clared a stock dividend of fifteen per cent, payable September 

 15 on stock of record September 2, 1919. 



The Pennsylvania Rubber Co., East Pittsburgh, Pennsylvania, 

 has declared its regular quarterly dividend of 1J4 pcr cent on 

 preferred stock and lyi per cent on common stock, payable 

 September 30 on stock of record September 15, 1919. 



The Plymouth Rubber Co., Canton, Massachusetts, declared 

 its quarterly dividend of $1.75 a share, payable September 2, on 

 preferred stock of record August 5, 1919. 



The Portage Rubber Co., Akron, Ohio, has declared its quar- 

 terly dividend of one and three-quarters per cent, payable Octo- 

 ber 1 on preferred stock of record September 20, 1919. 



The Tyer Rubber Co., Andover, Massachusetts, declared its 

 quarterly dividend of $1.50 per share, payable August 15, 1919, 

 on preferred stock. 



The United Shoe Machinery Corp., Boston, Massachusetts, 

 has declared quarterly dividends of $1 a share on common stock 

 and 37J^ cents a share on preferred stock, payable October 4, on 

 stock of record September 16, 1919. 



FINANCIAL NOTES. 



H. S. Firestone, president of the Firestone Tire & Rubber 

 Co., in his annual address to the directors of the company on 

 September 5, 1919, explained why the capitalization has been 

 raised to $75,000,000. Said he : 



It is less than three years ago that we increased our pre- 

 ferred stock from $1,000,000 to $10,000,000. At that time we 

 had no idea of ever using more than $5,000,000 of that pre- 

 ferred issue, and with that experience in mind and not know- 

 ing what the future might bring forth, we decided to make 

 our preferred capital stock sufficiently large so that we could 

 without expense and complications issue more at any time. 

 and therefore it seemed advisable to raise from $10,000,000 to 

 $50,000,000. It is necessary to have half as much common 

 stock as preferred, and therefore it was necessary to increase 

 the common stock to $25,000,000. We do not intend to make 

 any issue of common stock at this time, and when we do sell 



it we hope that it may be possible to ofler the common stock 

 to our employes. 



The August sales of the Firestone Tire & Rubber Co., 

 amounted to $10,000,000. The entire sales of the company 

 in 1911 were only $7,462,000. In other words, in the single 

 month of August the company billed out 33 per cent, more 

 goods than for the full year 1911. For the full year to Oc- 

 tober 31 next, Firestone will easily do $90,000,000 of business 

 and for the following fiscal year, making allowance for the 

 efifect of the expansion program, gross should considerably 

 overtop the $100,000,000 mark. 



With a turnover in excess of $5,000,000, The Fisk Rubber 

 Co. liad in August the biggest month in its history. Its sub- 

 sidiary. Federal Rubber, also reached a new sales mark of 

 $1,500,000. The Fisk Rubber system therefore did a total 

 business last month of $6,500,000 or at the annual rate of 

 $78,000,000. In this connection it is interesting to note that 

 actual sales of the parent company alone last year were but 

 $36,000,000. The operating profits of both companies last 

 month were close to $1,000,000, which charge-oflfs may re- 

 duce to approximately $800,000. The Fisk earning power has 

 more than kept pace all year with sales expansion and has 

 now reached the point where it is forcing upon directors the 

 necessity of considering common dividends. 



The Republic Rubber Co.'s gross sales for September which 

 are expected to exceed $2,000,000, are running at a rate greater 

 than at any other time in the history of the company. In- 

 debtedness which falls due on October 1. has been anticipated 

 with the result that the company's statement as of that date 

 will for the first time in many years show current assets 

 twice all current liabilities. 



With an increase of approxiinately 56 per cent in sales vol- 

 ume for the first seven inonths in 1919, as compared with the 

 same period in 1918, The Miller Rubber Co. shows every in- 

 dication of breaking all of its previous records at the end of 

 this year. The company did approximately $16,000,000 busi- 

 ness in 1918, and a $23,000,000 figure was set for 1919. From 

 present indications, the latter mark will be passed easily. 



An $800,000 increase in Miller common capital stock has 

 been authorized. Stockholders may subscribe to new stock 

 at $100 par on a basis of one-fifth of their holdings. Miller 

 common has been selling at better than $200 for several 

 months. 



United States Rubber stockholders have ratified the plan 

 calling for increase in capital from $70,000,000 first preferred 

 and $40,000,000 common to $100,000,000 first preferred and 

 $200,000,000 common. Out of 630,221 shares preferred out- 

 standing, 440,026 voted for the plan and out of 360,000 shares 

 common, 309,372 voted in favor. 



The committee on securities of the Stock Exchange has 

 ruled that transactions in common stock of United States 

 Rubber Co. on September 12 shall be ex-rights unless made 

 specifically for cash. Rights may be dealt in on and after 

 September U. 



Tlie capitalization of the Nebraska Tire & Rubber Co., 

 CJmaha, Nebraska, is $500,000 of which $300,000 is preferred, 

 guaranteed 7 per cent, dividends, and $200,000 common. No 

 common stock has been offered for sale. 



