THE INDIA RUBBER WORLD 



517 



NEW PRESIDENT OF A. SCHRADER'S SON, INC. 



Chari.es Schvveinert, the recently elected president of A. 

 Schrader's Son, Inc., Brooklyn, New York, presents a 

 notable instance of that constant advancement through long and 

 faithful service which has 

 been one of the chief bul- 

 warks of success in Amer- 

 ican industry. Thirty-four 

 years ago he entered the 

 employ of the company in 

 the capacity of office boy, 

 and has ever since been 

 associated with the growth 

 and development of the 

 concern from a small 

 three-story factory in New 

 York to the present seven- 

 story fireproof building 

 occupying an entire block 

 in Brooklyn. He has an 

 intimate knowledge of 

 every detail of the busi- 

 ness, gained from experi- 

 ence, and enjoys among 

 the firm's workmen a wide 

 popularity no less genuine 

 ihan the esteem in which 



Ch..XR,.ES ScHWE.XKRT. ,^^ i^ j^^jj ^^^^g ^^^ ^^^ 



who have made and now direct the tire industry. Both rejoice 

 for and with him in this culminating stage of his advancement. 



Mr. Schweinert is an ardent sportsman and numbers among 

 his clubs the New York Athletic Club, the Columbia Yacht Club, 

 Society of Automobile Engineers, Machinery Club and the .^kron 

 City Club. 



STATEMENT AND BALANCE SHEET OF THE 

 INTERCONTINENTAL RUBBER COMPANY. 



•TWE DIRECTORS of the Intercontinental Rubber Company, IS Ex- 

 1 change Place, Jersey City, New Jersey, have submitted to 

 their stockholders the following balance sheet and statement 

 of surplus account for the fiscal year ended December 31, 1919. 

 The statements have been prepared and certified to by Messrs. 

 Loomis, Suffcrn & Fernald, chartered public accountants. New 

 York City. 



CONDITIONS IN MEXICO. 

 Operations at the company's Torreon factory were suspended 

 on June 30, 1919, due to decreased shrub deliveries and low 

 crude rubber prices. Advantage was taken of the opportunity to 

 carry out extensive repairs and alterations, the latter designed 

 to decrease the cost of production and increase recovery of rub- 

 ber. Prices having somewhat recovered and a satisfactory de- 

 mand for guayule rubber having developed, operations were re- 

 sumed on December IS. General conditions throughout Mex- 

 ico have, on the whole, improved and it is believed that a re- 

 currence of paralyzing disorder is improbable. ' Claims for physi- 

 cal losses and damage to property during the revolutionary 

 period have been lodged with a Claims Commission constituted 

 by the Mexican Government, and the case will be followed with 

 due diligence. 



AMERICAN CONGO COMPANY IN AFRICA. 



.\ number of years ago it became apparent to the directors of 

 your company that wild rubber could not be profitably produced 

 from the .African Concessions of the American Congo Company 

 in competition with Malaysian plantations, which will this 

 year produce 90 per cent of the world's supply. Various un- 

 successful attempts were made to utilize the Congo Company's 



position to financial advantage, and in 1916 the option to pur- 

 chase S00,000 hectares of land for Frs. 10,000,000 was allowed 

 to expire, nothing having developed to warrant the expenditure 

 of additional capital. Therefore, during 1919 the directors took 

 advantage of an opportunity to sell the company's stock in the 

 -Vmerican Congo Company for $25,000 in cash plus a contingent 

 interest in a claim against the German Government for rubber 

 roMliscated in Belgium. Although difficult to establish and col- 

 lect, the claim may ultimately have a value to your company of 

 $S6,250. The established loss of $170,112.50 was charged on the 

 company's books against the general reserve previously set up 

 against contingencies of this character. 



SUMATRA PLANTATION. 



The development of the Sumatra plantation continues to show 

 satisfactory progress, but with increased costs due to the fact 

 that rice, the principal food of the estate laborers, now costs eight 

 times the pre-war price. 



ARIZONA GUAYTTLE PLANTATION. 



Experimental work on the .\rizona guayule plantation has 

 continued with what the directors believe to be very encouraging 

 lesults. 



CHILEAN NITRATE SYNDICATE. 



Your company has participated in a syndicate formed to pur- 

 chase and exploit a large tract of proven nitrate land in the 

 Republic of Chile. The enterprise is promising, but its final de- 

 velopment may be held in abeyance until there is an improvement 

 in the general situation with regard to new construction and 

 the procurement of equipment. 



INVESTMENT SECURITIES. 



The item of Investment Securities is made up of Liberty 

 Loans, bonds and short-time notes. As will be seen by refer- 

 ence to the Surplus Account, the sum of $58,202.27 was deducted 

 from income to adjust this account to the market quotations 

 of December 31, 1918. 



By Order of the Bo.^rd of Directors. 



WiLLARi) p. S.MiTH, Secretary. 

 April 5, 1920. 



condensed BALANCE SHEET— DECEMBER 31. 1919. 



.XSSETS. 



Investments in 



Merged and suljsidi.iry cunipanies: 



By cash $3,762,159.09 



By stocl< issues 28,198,575.30 



$31,960.73-4.39 



Patents (exclusive of subsidiary companies) 15,141.77 



Accounts and notes receivable, etc.: 



Advances to subsidiary companies $305,653.71 



Sundry accounts 78,800.90 



384.454.61 



.Advances on rubber 6,061.43 



Investment securities 1,379,346.27 



Cash 316,258.74 



$34,061,997.21 



Capital stock: common $29,031,000.00 



.Accounts payable, ta.xes accrued, etc 20,596.43 



Reserve accounts 564.321.21 



Surplus (as below) 4,446,079.57 



$34,061,997.21 



Surplus Account 



Surplus December 31, 1918 $4,417,297.77 



Total profits and income from invest- 

 ments, etc $215,237.25 



Less: 

 Administration, general expenses 



and taxes 55.923.08 



159,314.17 

 Depreciation in market value of 

 securities at December 31, 1919 58.202.27 101,111.90 



$4,SJ8,409.67 

 Charges .igainst surplus: 



Cost of caring for Mexican properties (or shut-down 

 expenses) 1918-1919 72,330.10 



Surplus December 31, 1919 $4,446,079.57 



