THE INDIA RUBBER WORLD 



public a $500,000 issue of seven per cent cumulative preferred 

 stock, the par value of the shares being $100. The proceeds of 

 this issue will be used to reduce floating debt and to finance the 

 greatly increased volume, the company's sales having jumped 

 from $977,180 in 1913 to $4,923,296 in 1918, and an estimated total 

 of $5,500,000 for the fiscal year ending April 1, 1920. For the 

 past four years the demand for the company's products has 

 greatly exceeded the supply, and during the past two years alone 

 orders aggregating $2,000,000 were refused. 



THE GOODYEAR TIRE & RUBBER CO. STATEMENT. 



According to the annual report of The Goodyear Tire & Ruli- 

 ber Co. for the fiscal year ended October 31, 1919, the last year's 

 business has been the largest and most profitable in the history 

 of the organization. Sales were $168,914,982, against $131,247,382 

 for the preceding year; net profits (subject to Federal tax) were 

 $23,277,245, against $15,388,190 for the preceding year. During 

 the year dividends were paid on the capital stock as follows; 

 first preferred, 7 per cent, $1,664,866; second preferred, 8 per 

 cent, $1,149,074; common, 12 per cent, $2,489,355. In accordance 

 with the articles of incorporation, as amended, capital stock was 

 redeemed during the year as follows: first preferred par value of 

 $609,900 and second preferred $1,318,400. There remains an 

 unappropriated surplus of $33,332,666, subject to Federal taxes 

 for the year. 



During the year the authorized preferred and common stock 

 of the company was increased to $100,000,000 each. Of the new 

 preferred stock ofi^ered to stockholders and employes, $41,135,900 

 has been subscribed by 30,409 persons throughout the country. 

 of which amount $7,843,600 was subscribed by 17,407 employes 

 of the company. 



The balance sheet as of October 31, 1919, follows: 



Second preferred dividends payable Novem- 

 ber 1, 1919 



Federal income and excess profits taxes to 

 October 31, 1918, balance unpaid 



Reserves: 



For doubtful accounts (current) — see contra 

 For doubtful accounts (suspended assets) — 



For insurance on branch stocks 



For industrial compensation 



For pensions 



For depreciation of plant 



Surplus, subject to federal ta.Ncs for the year 



289,200.66 

 ,368.782.17 



21.785,483.60 



182,076.36 



103,335.82 

 38,470.10 

 100,000.00 



$120,276,831.70 



Plant, as per books: 



Real estate and buildings $l/,o 



Machinery and fixtures l/.sC 



Patents, trademarks, designs 



Securities owned — other than V. S. Liberty Bonds— book 



values 



First preferred stock, purchased aTi.l IM m n. .-i:r\. .\^'i2 



shares, par value $359,200 



Notes receivable of officers and enii . i i ; i! -u,. ]:. 



secured by such stock to the par val ;■ : v| j, i '^dh 

 Employes' subscriptions for 2nd pieieiieu sluek iljalance 



unpaid) . 



Inventory and current assets: 



Inventory $35,566,779.06 



Accounts and notes receivable (provision 

 in reservefor doubtful items $231,445.30 



—see contra) 23,635,353.98 



Advances to agents, salesmen and companies 3,648,895.19 

 United States Liberty Bonds. $3,405,800.00 

 Less notes payable, secured 



by same 1,120,000.00 



■ 2,285,800.00 



Cash on deposit and on hand 10,395,241.32 



Advances to the Goodyear Improvement Co. and to The 

 Goodyear Heights Realty Co 



Suspended assets (provision in reserve for doubtful items, 

 $182,076.36— see contra) 



Prepaid rentals, interest, insurance, etc 



$35,260,506.68 

 1.00 



4,440,602.69 



326.993.19 



1,324,741.07 



48.661.68 



STATEMENT OF THE WELLMAN-SEAVER-MORGAN CO. 



The Wellman-Seaver-^lorgan Co. has reduced borrowed cajii- 

 tal from $1,200,000 to $425,000 and regularly paid quarterly divi- 

 dends, besides the deferred dividends on the preferred stock 

 for the years 1917 and 1918. The original issue of preferred 

 stock has been redeemed and cancelled, and there is but one 

 class of preferred stock outstanding. The working capital is 

 ample for anticipated requirements. The condensed balance 

 sheet as of December 31, 1919, follows: 



Assets. 

 Current: 



^?^^ ; ■ •, /.v- ■ • • -^^ • ■, $305,978.14 



Ignited Estates Liberty Bonds 188 54170 



Notes receivable ;;;,] l.i87;80-;24 



Accounts rfceivablc 942,021.92 



Inventory 529.9';.l 4iJ 



Uncompleted contracts l "^^q'^t-^j. 



Other assets :::::::: '74746"'" 



Permanent— land, buildings ;nil niaclrnery 3. 143^317 ""3 



P^'t/n's ,• 264.512.79 



Deferred 31.708.85 



$8,197,914.71 



Liabilities. 

 Current: 



Notes payable $425,000.00 



Accounts payable 712.955.44 



Dividends pavahle lannarv 2. 1920 81,850.00 



Accrued 37,718.50 



Advances on contr.^ct.' 453,554.62 



Reserves 274.722.29 



Capital stock— iireferied 2,500.000.00 



Capital stock— I ...nmu.n ^ 2,540,000.00 



Surplus 1.172,113.86 



$8,197,914.71 



75,532,069.55 

 1,880,328.06 



$120,276,831.70 



Capital and Liabilities. 

 Capital stock (par value $100 per share): 

 First preferred (7 per cent cumulative) — 

 Authorized and issued.... $25,000,000.00 



Less — redeemed 1.826.100.00 



$23,173,900.00 



Second preferred (8 per rent 

 cumulative) : 

 Authorized $25,000,000. issued 14,468.700.00 

 Reserved for issue to em- 

 ployes on partial payment 

 subscriptions 347.100.00 



14.815.800.00 



Less redeemed l,3'8.400.0O 



13.497,400.00 



Common authorized, $50,000,000 issued 20.757.600.00 



Current liabilities: 



Purchase accounts and acceptances payable 7,722,740.24 



Sundry other accounts payable 2,766,021.69 



Notes payable 9,500,000.00 



Accrued first preferred dividends 138.738.84 



HOOD RUBBER PRODUCTS CO., INC. 



The Hood Rubber Co., Watertown. Massachusetis, which has 

 formerly sold its products, both footwear and tires, direct to 

 manufacturers, dealers and jobbers and through subsidiary sell- 

 ing companies, has organized a new corporation, the Hood Rub- 

 ber Products Co., Inc., under the laws of Massachusetts, with 

 a capital of $1,000,000 preferred and $500,000 common stock, to 

 take over the sale and distribution of its products. To the new 

 company will be transferred all the business and assets of the 

 former subsidiaries, namely: Hood Tire Co., Inc., Watertown, 

 Massachusetts; Pilgrim Rubber Footwear Co., Boston, Massa- 

 chusetts: Pioneer Rubber Shoe Co., Minneapolis, Minnesota; 

 Dearborn Rubber Co., Chicago, Illinois; Iowa Rubber Shoe Co., 

 Davenport, Iowa ; Southwest Rubber Footwear Co., Kansas City, 

 Missouri; Capital City Rubber Co., Columbus. Ohio; Grand 

 Rapids Shoe & Rubber Co.. Grand Rapids, Michigan. 



The Hood Rubber Co. retains all the common stock of the 

 new company, and until February 3, 1920, offered the preferred 

 stock first to its own stockholders. The directors of the Hood 

 Rubber Products Co. Inc., include the directors of the Hood 

 Rubber Co. and the officers are : president, Frederic C. Hood ; 

 vice-president, Francis S. Dane and Edward I. .\ldrich; treas- 

 $57,428,900.00 urer, Erie A. Bishop; assistant treasurers, Francis S. Dane and 

 Thomas H. Burton; general manager, William W. Duncan. 

 The sales for 1918 and 1919 amounted to $25,000,000 each year 

 and a substantial increase on this sum is expected in 1920. 



