THE INDIA RUBBER WORLD 



[February 1, 1920. 



J. \\ . Thomas, vice-president, in charge of manufacturing; 

 Thomas Clements, vice-president, in charge of offices and pur- 

 chases. 



ANNUAL BALANCE SHEET OF THE FISK RUBBER CO. 

 The Fisk Rubber Co., Chicopce Falls, Massachusetts, has re- 

 cently issued its annual balance sheet for the year ended Sep- 

 tember 30, 1919, which shows the following figures: 



ASSETS. 

 Capital assets: 

 At Chicopce Falls- 

 Land $197,473.63 



Buildings 3 694,739.50 



Mold equipment 868,571.69 



Machinery 2,7:4,145.51 



Plant equipment 2,403.054.19 



.^ . , $9,877,984.52 



At branches — 



Land $171,629.54 



Buildings 93,734.93 



Leasehold 4,523.19 



Equipnieni £or stores 688,310.01 



958,197.67 



Total replacement value $10,836,182.19 



Reserve for depreciation 1,721.624.88 



.Sound value of capital a'sets $9,114,557,31 



Ciood will 8,000,000.00 



$17,114,557.31 



Investments: 

 Miscellaneous, including Federal Rubber Co., 25,500 shares $230,001.00 



Current assets: 



Raw materials and supplies at cost or less $3,968,056.16 



Work in process at cost 728,123.45 



Finished stock at cost 9,652,332.62 



Accounts receivable, less reserve 9,316,650.40 



Notes 71,458.72 



Collateral notes— employes' subscriptions to capital stock 93,277.26 



Cash 3,675.810.95 



Lnited .States Liberty Bonds collateral to 



loan, per contra $2,754,700.00 



Less officers' and employes' payments.... 210.153.50 



2,544,546.50 



$30,050,256.04 



Deferred charges: 



Prepaid rents, royalties, local taxes, interest and in- 



surance •..,..•■ $84,246.78 



Stationery and office supplies 38.026.24 



Other prepaid expenses 143,887.20 



266.160.22 



•Leasehold property is our Pittsburgh branch located 

 on leased land, being charged nff during the period of 

 lease. 



$47,660,974.57 



LIABILITIES. 

 Capital stock: 



7 Per cent cumulative first preferred — 

 .\uthorized and issued: 150,000 shares, 



par $100 $15,000.00.00 



Less purchased for retirement, 5,000 



shares, par $100 500.000.00 



■ $14,500,000.00 



7 Per cent cumulative second preferred 

 convertibles — 

 Authorized 70.000 shares, par $100.... $7,000,000.00 

 Less 20.955 shares, par $100, converted 



into common stock 2,095,500.00 



Outstanding 49,045 shares, par $100 4.904.500.00 



Authorized 800.000 shares, par $25 $20,000,000.00 



Unissued 480,000 shares, par $25 12,000,000.00 



Issued 320,000 shares, par $25 $8,000,000.00 



Issued 114,380 shares, par $25, for con- 

 version of first preferred convertible 

 and second preferred stocks 2.859,500.00 



Outstanding 434,380 shares, par $25 10.859,500.00 



Total capital stock outstanding $30,264,000.00 



Current liabilities: 



Loans payable $1,650,000.09 



Accounts payable 2,830,601.74 



Accrued taxes and wages 276,476.04 



Loans payable, per contra — United States Liberty Bonds. 2,149,500.00 



$6,906,577.78 



Balance of 1918 Federal income and war taxes (due De- 



cember 15. 1919.) $356,547.15 



Excess of appraisal value of capital assets over book value 



at March 31, 1919 $1,027,931.86 



Reserve for branch insurance liability assumed by company. $103,797.90 



Reserve for mileage guarantee 100,416.58 



Reserve for contingencies 52.679 75 



Reserve for 1919 Federal income and war taxes 839,879.74 



$1,096,773.97 



Surplus: 

 Balance .nt December 31, 1918 $4,425,923.35 



u\u.] si :1s restored to general surplus 1,938,542.19 



MiDiiiM i...ivid on sale of 25,000 shares second pre- 

 1 ' <■■'- 875.000.00 



.\li>, . ll.in. .,1., income, including $191,000 resulting from 

 i.uii\i;ri:uH uf first preferred convertible stock into 

 common stock on basis 5 for 195,689.85 



Profit January 1, 1919, to September 30. 1919, per 

 schedule 7 4,199 399.06 



$11,634,554.45 

 Deduct: 



Dividends declared (first preferred stock — to .August 

 1, 1919 $492,796.58 



Dividends declared (second preferred stock — to Septem- 

 ber 1, 1919) 215,774.00 



Provision for Federal income and war taxes 1,012,641.70 



Premium paid for retirement of old issue of first pre- 

 ferred stock and commissions paid underwriters of new 

 first preferred and second preferred stocks 1,878,995.55 



Miscellaneous expenses in connection with isssuc and 



sale of new first preferred and second preferred stocks. 25,202.81 



$3,625,410.64 

 Balance $8,009,143.81 



$47,660,974.57 



The Hood Rubber Co., Watertown, Massachusetts, has formed 

 a new subsidiary company under the name of Hood Products 

 Co., Inc., which will deal in all kinds of rubber and leather 

 goods, has been incorporated under Massachusetts laws with an 

 authorized capital of $1,500,000, consisting of 10,000 preferred 

 and 5,000 common shares. The preferred dividends will be 

 cumulative at 7 per cent. 



Sales of the Mason Tire & Rubber Co. for its third fiscal 

 year, ended October 31, 1919, amounted to $3,468,858.52, with a 

 net profit of $223,705.52. This is an increase of about SO per 

 cent over the preceding year's totals. During the past few 

 months the company has opened ten additional direct factory 

 branches in the United States, making eighteen in operation. 

 The goal is a $7,000,000 business during the present fiscal year. 



DUNLOP AMERICA LIMITED TO BUILD TIRE PLANT AT BUFFALO. 



Dunlop America Limited has been incorporated, and will ac- 

 quire all the rights of the original American Dunlop Tire Co. 

 About 150 acres of land at Buffalo, New York, have been pur- 

 chased, upon which will be erected a tire plant of the most 

 modern kind. Cord fabric, which will be exclusively used, 

 will be spun, twisted and woven from the raw cotton in a spe- 

 cially designed fabric plant on the Buffalo site. The Dunlop 

 company believes in specialization and, therefore, with the ex- 

 ception of the Dunlop golf ball, its production will be confined 

 to high-grade pneumatic cord and solid truck tires. 



Dunlop .America Limited as an American company will be 

 operated by an American staff. The board will include a strong 

 American element, as well as some of the chief members of 

 the board of the British company, and will have the benefit of a 

 full interchange of patents and technical processes with the Brit- 

 ish and other Dunlop companies, as well as the services free of 

 cost of an advisory committee constituted from the e.\pert staff 

 of the British organization. The names of the directors and 

 executive officers of Dunlop Ainerica Limited will be announced 

 later. 



SAVOU> TIRE REORGANIZATION. 



The Savold Tire Corporation, New York City, which was 

 incorporated early in 1919, and whose stocks had such an erratic 

 career on the New York curb market, has been thoroughly re- 

 organized in order that full advantage might be taken of exist- 

 ing possibilities. Those who formerly controlled its policies have 

 stepped aside and a new personnel is now in charge. 



