THE INDIA RUBBER WORLD 



(M/ 



$690,{XX). being 1 per cent of the total amount of bonds issued, 

 was paid lo the sinking fund trustees on January 1, 1919. 



The call for tenders resulted in the purchase of bonds to the 

 par value of $793,000, and these bonds have been retired and the 

 bonded indebtedness reduced by a like amount. 



UUITED STATES EUBBEE EXPORT CO., UlCTED. 



The export sales of the company have increased over the 

 previous year. 



Adverse exchange conditions prevailing in some of our for- 

 eign markets were successfully met and a satisfactory profit 

 maintained. 



Your directors, realizing the value of export markets as a 

 stabilizing factor and the importance of such an outlet, are 

 continuing the policy referred to in the last annual report of 

 maintaining and materially extending our export business. 



GENERAL RUBBER CO. 



Since 1904 this subsidiary lias protected our requirements 

 (now including our Canadian company I of crude rubber in a 

 most satisfactory manner. On January 1, 1920, the name of 

 their London branch, William Symington & Co., Limited, was 

 changed to "General Rubber Co., Ltd." The General Rub- 

 ber Co. now directly or through its subsidiaries entirely owns 

 and operates our houses at London, Liverpool, Singapore, Co- 

 lombo. Para and Manaos. This efficient organization has been 

 recognized by others to such an extent that outside dealers 

 and manufacturers are entrusting to it a large portion of their 

 orders. 



RITBBER PLANTATIONS. 



During the year 1919 the production of our plantations in 

 Sumatra has shown a good increase over previous years due 

 largely to the growth of the trees. It is our intention to con- 

 tinue the extension policy as rapidly as possible in order that 

 eventually a much larger percentage of the rubber consumed 

 by our factories may be obtained from our own plantations, 

 and in connection with this it should be borne in mind that 

 our consumption of crude rubber greatly increases from year 

 to year. In this extension program, the company is not con- 

 fining itself to Sumatra, which is under the government of 

 Holland, but planted properties and areas suitable for planting 

 already have been acquired in other territories, principally on 

 the Malay Peninsula, which is under the British Government. 



As stated in my report for 1918, the management of the pres- 

 ent properties and the new areas being acquired and developed 

 are under the direct control of the United States Rubber Plan- 

 tations, Incorporated, the subsidiaries of which at December 31, 

 1919, were the Holland American Plantage Maatschappij, Si 

 Pare Pare Rubber Maatschappij and Nederland Langkat Rubber 

 Maatschappij, which together own over 90,000 acres in Sumatra, 

 the planted area of which is over four times the size of any 

 other American owned plantation and is the largest unit of 

 rubber planted area in the world. 



OUTLOOK FOE 1920. 



The sales of the company so far this year show a substantial 

 increase over last year. With the completion of our new con- 

 struction now in process, notably in the tire division, our sales 

 and profits for 1920 should be larger than they were in 1919. 



GENERAL FINANCIAL CONDITION. 



The financial condition of the company was never better 

 than it is to-day. However, its expanding business, outlays for 

 new constniction to meet the same, and also the advancing cost 

 of practically all materials entering into our manufactured prod- 

 uct (with the one exception of crude rubber), will in time re- 

 quire more working capital. 



FINAL. 



I am pleased to make mention of the continued fidelity and 

 ability shown by the officers, heads of departments, our Far 

 Eastern and foreign staffs, and other employes of the company 

 and its subsidiaries. 



Respectfully submitted, 



Samuel P. Colt, Chairman. 



THE COMPTROLLER'S REPORT. 



UNITED STATES RUBBER CO. AND SUBSIDIARY COMPANIES. 



Consolidated General Balance Sheet, December 31. 1919. 



ASSETS. 



Cash $20,037,646.20 



Accounts receivable 40,770,427.90 



Notes and loans receivable 1,377,339.05 



United States Liberty Bonds and Victory Notes and Cana- 

 dian Victory Bonds 3,479,902.15 



Notes receivable of employes given for purchase of capital 



stock, secured by such stock to the par value of $9,709,900 8,576,043.41 

 Manufactured goods and material 87,633,699.00 



Total current assets $161,875,057.71 



lecurities owned and held in the insurance fund 2,331,778.75 



.ecurities owned, including stock of United Stales Rubber 



Co. held by subsidiary companies 5,522,317.19 



'lants, properties and investments, including rubber plan- 



Prepaid and deferred assets 

 Total assets . . . 



LIABILITIES, RESERVES AND CAPITAL. 



$319,534,204.01 



Accounts payable and accrued liabilities... $22,902,570.50 

 Acceptances payable for importation of 



1,430,148.20 



payable. 



0.00 



Notes and 1 



Total current liabilities $24,332,718.70 



United States Rubber Co. 

 first and refunding mort- 

 gage 5 per cent gold 



bonds, due 1947 $68,207,000,000 



Less treasury bonds, de- 

 posited as security for 

 United States Rubber 

 Co. 5-year 7 per cent 

 secured gold notes, due 

 December I, 1923 9,000,000,000 



United States Rubber Co. S-year 7 per cent 



secured gold notes, due December 1, 1923 6,000,000.00 

 Tanadian Consolidated Rubber Co., Limited, 



6 per cent gold bonds, due 1946 2,600,000.00 



67,807,000.00 



$1,825,138.51 

 776,370.21 



2,601,508.72 

 Reserve for depreciation of property and 



plants 14,812,254.16 



Reserve for dividend on preferred stock, 



payable January 31, 1920 1,260,442.00 



Reserve for dividend on common stock, 



payable January 31, 1920 1,378,576.00 



33,074.447.17 



Capital stock— Common 72,000,000.00 



Minority — Canadian Consol- 

 idated Rubber Co., Lim- 

 ited, stock 278,500.00 



Total capital stock $135,300,600.00 



Fixed surpluses — -suDsidiary 



companies $6,709,275.00 



Surplus 52,310,162.92 



59,019,438.14 



Total capital stock and surpluses 194,320,038.14 



Total $319,534,204.01 



Respectfully submitted, 



W. G. Parsons, Comptroller. 



MANAGEMENT. 



The management of the business is in the following com- 

 petent hands: 



OFFICERS. 



Samuel P. Colt, chairman; Lester Leland, vice-chairman; 

 Charles B. Seger, president; James B. Ford, vice-president; 

 Homer E. Sawyer, vice-president in charge of footwear divi- 

 sion ; Elisha S. Williams, vice-president in charge of mechanical 

 goods division ; Ernest Hopkinson, vice-president in charge of 

 development department ; J. Newton Gunn. president of United 

 States Tire Co. in charge of tire division ; Samuel Norris, sec- 

 retary ; W. G. Parsons, vice-president and comptroller; H. B. 

 Hubbard and William O. Cutter, assistant comptrollers ; W. H. 

 Blackwell, treasurer ; John D. Carberry, assistant secretary and 

 assistant treasurer; Sherwood S. Green, assistant treasurer; 

 George E. Smith, auditor. 



DIRECTORS. 



James S. Alexander, Walter S. Ballou, James C. Brady, 

 Nicholas F. Brady, Middleton S. Burrill, Samuel P. Colt, Harry 

 E. Converse, Sir Mortimer B. Davis, James Deshler, James B. 

 Ford, James Newton Gunn, Francis L. Hine, Ernest Hopkin- 

 son. Henry L. Hotchkiss, Lester Leland, Nathaniel Meyers, 

 Samuel M. Nicholson, Raymond B. Price. Homer E. Sawyer, 

 Charles B. Seger, William H. Truesdale, Theodore N. Vail, 

 Frank A. \'anderlip, Elisha S. Williams. 



EXECUTIVE COMMITTEE. 



Samuel P. Colt, Lester Leland, Charles B. Seger, James B. 

 Ford. Walter S. Ballou, Nicholas F. Brady. 



