April 1, 1920.] 



THE INDIA RUBBER WORLD 



of ground, four acres of floor space and the capacity to turn 

 out 1,000 tires a day. The company was incorporated in Ohio 

 in June, 1911, and was amalgamated with the Republic company 

 in 1917; its name was changed to Canton-Blackstone in April, 

 1919. 



In May, 1917, Guy S. Norwood succeeded Mr. Robinson as 

 president of the Republic Rubber Co., coming from The B. F. 

 GoodricJi Co. to take the position. The other officers of the 

 corporation were : L. T. Petersen, Harvel J. Woodward and W. 

 \V. Roc, vice-presidents ; C. F. Garrison. .<iecrctary. and M. I. 

 Arms, 2nd, treasurer. 



In February, 1920, E. F. Jones was elected president to succeed 

 Guy E. Norwood who resigned. The names of the other officers 

 recently elected will be announced later. 



ANNUAL REPORT OF THE B. F. GOODRICH CO. 



Sales for the calender year 1919 were the largest in the history 

 of The B. F. Goodrich Co., Akron, Ohio, aggregating $141,- 

 343,419, on which the company earned net profits amounting to 

 $17,304,813, after making the usual charges for maintenance, de- 

 preciation, bad debts and other items, but before making allow- 

 ance for such Federal income and excess profit taxes as may 

 be finally determined. In 1918 the sales totaled $123,470,187, and 

 in 1917, $87,155,072. 



In consequence of this greatly increased business the dividend 

 on common stock has been advanced from a $4 to $6 per annum 

 basis beginning with the February, 1920, dividend. Sales have 

 been limited only by the ability to produce, and when the addi- 

 tional manufacturing facilities now under 'construction are 

 brought into production this year, the annual business may exceed. 

 $200,000,000. 



The consolidated balance sheet, profit and loss, and surplus ac- 

 counts for the year ended December 31. 1919. are as follows: 



reserve, per balance sheet, December 31, 

 1918, of $1,447,540.22 applied as obso- 

 lescence for years 191S-I919 $19,486,065.22 



Patents and trade-marks 1.00 



Goodwill 57,798,000.00 $77,284,066.22 



Investments and Advances to Other Companies 3,331,360.93 



Foreign Associated Companies, etc., representing the net in- 

 vestment at December 31. 1919 6,054,451.19 



19.066 Shares of 7 Per Cent Cumulative Preferred Stock in 



Treasury at par 1,906.600.00 



Current Assets; 



Raw materials, partly manufactured and 



finished stock $54,184,974.63 



Trade accounts receivable, after deducting 

 reserve to cover doubtful accounts, dis- 

 counts and allowances 23.011,543.22 



Other accounts receivable 550,208.24 



Bills receivable 44,688.24 



United States Liberty Loan Bonds, at 



market prices 2,591,535.32 



Cash in banks and on hand 5,491 



■ Oper^ 



85,874,449.72 



1,264,990.25 



Liabilities. $175,715,918.31 



Capital Stock: 



600,000 shares of common stock of the 



par value of $100 each $60,000,000.00 



450.000 shares of 7 per 

 cent cumulative preferred 

 stock of the par value 



of $100.00 each $45,000,000.00 



Deduct— 54,000 shares of 

 preferred stock re- 

 deemed and cancelled, 

 including $900,000 re- 

 deemed during 1919.. 5,400,000.00 39,600,000.00 $99,600,000.00 

 100,000 shares of 7 per 

 cent cumulative preferred 

 stock of the par value 

 of $100.00 each, author- 

 ized and Unissued $10,000,000.00 



Current Liabilities: 



Bills payable — general $22,068,000.00 



Bills payable — secured by 

 deposit of portion of 

 United States Liberty 

 Loan Bonds, per contra. 2.000,000.00 $24,068,000.00 



Accounts, payable 5,864,069.30 



Sundry accrued liabilities 1,255,739.23 



31,187,808.53 



Contingencies 

 Pensions 



facilities. 



$2,000,000.00 



500,000.00 



1,225,063.73 



>urp]us^ (per annexed account), bore providing for such 

 income and war excess profits taxes as may be finally 

 determined 



ontingent Liabilities: 

 Bankers loans to employes, 

 cured by deposit of 



3.725.063.73 

 41.203,046.05 



stock of this company, 

 purchased by them, and 

 by the guarantee of the 



956,801.36 



$175,715,918.31 



'(The common stock dividend of I per cent, declared October 15, 1919, 



payable February 16, 1920, has not been deducted from the surplus shown 



Profit and Loss Account. 



et sales 



Deduct — Manufacturing, sellii 



1 general adn 



Add— Miscellane 



$141,343,419.45 

 121,579,265.35 



$20,340,214.44 



profit (before providing for such Income and Ex- 

 ■ss Profits Taxes as may be finally determined), 

 ;rried to surplus account 



Total $33,894,923.65 



—Net profit for the year ended December 3: 

 emium and accrued dividends received on 

 150,000 shares of additional preferred stock 



)educt — 7 per cent dividend on preferred stock (Nos. 

 to 31 inclusive) for the year ended De- 

 cember 31, 1919 $2,247,001 



4 per cent dividend on common stock 



(Nos. 16 to 19 inclusive) paid during 



1919 



Reduction of preferred stock purchased, 



from cost to par 



Additional appropriation for pension fu 

 Income and war excess profits taxes paid 



during the year, applicable to 1918 



2,400,000.00 

 77,778.46 



17,304,813.33 



387,000.00 



$51,586,736.98 



10.383.690.93 

 $41,203,046.05 



STATEMENT OF HOOD RUBBER COMPANY. 



Hood Rubber Company's sales for the 1919 calendar year totalled 

 $22,969,664, compared with $22,341,081 in 1918, $18,573,765 in 1917, 

 $11,666,501 in 1916 and $9,083,693 in 1915. Of 1919 total sales, 

 $6,593,984 was from tires, compared with $4,834,925 in 1918. 



Balance sheet as of December 31, 1919, compares with the two 

 previous years as follows : 



.■\SSETS. 



Plant (real . 

 Merchandise 



Cas""".^ . !^!' 





other corporatii 



Notes payable 

 Liberty Bond 

 .Accounts payab 



1919 



$4,200,000 



7,156,022 



3,111,907 



1,084,348 



410,400 



1,000 



103,404 



$3,000,000 

 5,000.000 

 4,860,000 



1918 



$4,000,000 



S.Ol 2,862 



1,202,350 



1,022,878 



285,400 



1,000 



521.020 



$15,045,510 $13,748,131 



1917 



$4,000,000 



4,075,021 



4,323,933 



930,680 



184,400 



$3,000,000 



4,000.000 



4,725,000 



505,000 



148,905 



2,666,605 



$3,000,000 



4.000,000 



4,150,000 



285,840 



Total ..." $16,067,081 $15,045,510 $13,748,131 



The treasurer's report states that earnings for 1919 were less 

 than the three years previous, as prices of footwear were lower 

 and costs higher in 1919 than in 1918. Prices on footwear were 

 advanced on January 1, 1920, and this increased margin, together 

 with the increased efficiency of the factory and the economy of 

 the Hood Rubber Products Co. should show satisfactory earnings 

 for 1920. Xct quick assets have increased from about $5,400,000 

 on December 31, 1918, to about $6,252,000 on December 31, 1919. 



