March 1, 1920.] 



THE INDIA RUBBER WORLD 



News of the American Rubber Trade. 



DIVIDENDS. 



THE .Am.^zon Rubber Co., Akron, Ohio, has declared its semi- 

 annual dividend of three and one-half per cent on preferred 

 stock. 



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

 quarterly dividend of one and one-half per cent, payable April 1 

 on stock of record March 20, 1920. 



The International India Rubber Corp., South Bend, Indiana, 

 has declared the regular annual dividend of seven per cent in 

 cash on the preferred stock for the year 1919 and has also 

 directed a cash distribution out of earnings equal to six per 

 cent on common stock. In addition, the directors have author- 

 ized the payment in cash of the entire accumulated dividends on 

 outstanding preferred stocks for the years 1917 and 1918. 



The Plymouth Rubber Co., Canton, Massachusetts, has de- 

 clared its quarterly dividend of one and three quarters per cent, 

 payable March 1 on preferred stock of record February 24, 

 1920. 



The van der Linde Rubber Co., Limited, Toronto, Ontario, 

 has declared its regular semi-annual dividend at seven per cent, 

 payable to shareholders of record January 1, 1920. 



The Tyer Rubber Co., .\ndover, Massachusetts, declared and 

 paid on February 14, 1920, its quarterly dividend of $1.50 per 

 share on preferred stock. 



FINANCIAL NOTES. 



While the detailed statement of the operations of the United 

 States Rubber Co. for the year 1919 is not yet completed, it is 

 announced that the volume of sales and the net earnings for the 

 past year are the largest in the history of the company. The 

 surplus earnings for the year 1919 will doubtless be ample to 

 cover all dividends paid during the year, including the cash 

 dividends and the common stock dividend of $9,000,000 declared 

 January 8. 



At the close of the year the company had no outstanding 

 notes or obligations other than current accounts and acceptances 

 necessary in the conduct of its business. The cash in bank was 

 over $15,000,000 and $2,800,000 of Liberty Bonds were in its 

 treasury. 



It is estimated that the very substantial enlargement of the 

 company's tire plants at Detroit, Michigan; Indianapolis, In- 

 diana; Hartford, Connecticut; Providence, Rhode Island, and 

 Kitchener, Ontario, Canada, now in progress will, when com- 

 pleted, more than double the present tire production. 



The Portage Rubber Co., Akron and Barberton, Ohio, has of- 

 fered 5000 shares each of its preferred and ordinary stock to 

 its stockholders at par. Each stockholder could subscribe up 

 to 20 per cent of his holdings, but was obliged to take equal 

 amounts of common and preferred. The option terminated on 

 January 10, 1920. 



Sales of The Mason Tire & Rubber Co., Kent. Ohio, for the 

 quarter ended January 31, 1920, amounted to $1,313,927.35, an 

 increase of over 100 per cent over the figures for the same quar- 

 ter of last year, which were $630,930.16. The Mason factory ex- 

 pects to show more than 100 per cent gain in business for the 

 year. The net profits for the quarter show a handsome increase 

 over those for the same period last year. 



The Gillette Rubber Co., Eau Claire, Wisconsin, has issued 

 $750,000. 7 per cent cumulative preferred stock, par value $100. 

 The new capital will provide for expanding both the tire and 

 the raincoat and waterproofing departments. The company 

 began operations in March, 1917, turning out 100 tires a day; 

 its present production is 1000 tires and, when the additions to 

 the plant are completed, will be over 1500 tires a day. 



The sales of the B. F. Goodrich Company in 1919 amounted 

 to $142,000,000 and at the present rate will be $200,000,000 for 

 1920. The common stock paid 6 per cent and the year's earnings 

 show that 24 per cent was earned on it. 



A special meeting of the stockholders will be called for March 

 10, 1920, to consider a plan for financing which will be presented 

 in detail. As part of the plan the directors propose to change the 

 common stock to non-par value shares, in harmony with the 

 action of many of the largest industrial institutions at this time. 

 The stockholders will be asked to increase the number of shares 

 of authorized common stock so as to provide, among other 

 things, for the conversion of the proposed notes. In addition, the 

 directors deemed it advisable to have shares of the new common 

 stock available for purchase by the employes of the company, 

 so that they may participate in the company's prosperity. If the 

 stockholders take the necessary action to authorize the proposed 

 convertible notes, opportunity will be given them, in due course, 

 to subscribe thereto upon favorable terms. The issue has been 

 underwritten by a group of New York bankers. 



E. F. Jones, of Elyria, Ohio, formerly identified with the steel 

 industry, has been elected president of The Republic Rubber 

 Corp. to succeed Guy E. Norwood, who has resigned. 



At a meeting held February 20, the stockholders voted fa- 

 vorably on the resolution of the directors advising amending the 

 articles of incorporation so as to increase the number of shares 

 of common stock without normal or par value from 650,000 to 

 1,500,000 shares, and also so as to increase the amount of work- 

 ing capital from $15,750,000 to $20,000,000. 



The recommendation of the directors was adopted by the 

 following vote, the respective vote of each class of stock ex- 

 ceeding 60 per cent of such stock ; first preferred stock, 42,376 

 shares, second preferred stock, 15,819 shares and common stock, 

 269,787 shares. Total 327,982 shares affirmative, none in the 

 negative. 



FINANCIAL STATEMENT OF THE CONVERSE RUBBER SHOE CO. 



The Converse Rubber Shoe Co.. Maiden, Massachusetts, has 

 recently issued its annua! balance sheet for the year ended De- 

 cember 31, 1919, which shows the following figures adjusted to 

 the sale of a $500,000 preferred stock issue now in the market: 

 Current .Assets. 



Cash $208,102.10 



.■\ccounts receivable 1.261.7S4.58 



Notes receivable 126.618.31 



Liberty bonds 349,958.06 



Raw material 672.003.51 



Finished goods 1,634,891.00 $4,253,327.56 



Investments $ 37,436.21 



Other accounts leceivable 12,995.01 



Plant and equipment 912.929.66 



.\uto trucks 15.773.52 



Leases, trademarks, copyrights 255.000.00 



C.R.S. Co. general capital stock 38,300.00 



C.R.S. Co. preferred stock 4.100.CO 



Prepaid expense 146.915.89 $1,423,450.29 



' ~" $5,676,777.85 



Current Liabilities. 



Notes payable $1,456,200.00 



One year coupon notes 500,000.00 



Accounts payable 168,144.91 



Dividend reserve 13,845.12 $2,138,190.03 



Preferred stock 2.125.0O0.CO 



General capital stock 375.000.00 



Three year gold coupon notes 285 000.00 



Xew York reserve 3,819.53 



Tire adjustment reserve 264.27 



Reserve 148,120.49 



Surplus 601,383.53 $3,538,587.82 



$5,676,777.85 

 The Converse Rubber Shoe Co., Maiden, is offering to the 



