August 1, 1920. 



THE INDIA RUBBER WORLD 



News of the American Rubber Industry 



DIVIDENDS. 



A.mfs-IIoluen-McCreadv, Limited, Montreal Quebec, Canada, 

 (leolared its quarterly dividend of one and one-quarter per 

 cent, payable July 2 on preferred stock of record June 21, 

 1920. 



The Canadian-Connecticut Cotton Mills, Limited, New York 

 City, and Sherbrooke, Quebec, Canada, has declared the follow- 

 ing dividends: ten per cent on both .\ and B stock and an extra 

 dividend of one-half of one per cent, all payable August 2 on 

 stock of record July 15, 1920. 



The Corn Products Retining Co., New York City, declared 

 the regular quarterly dividend of $1 a share on common stock, 

 payable July 20, and one and three-quarters per cent on pre- 

 ferred, payable July 15, besides an extra dividend of one-half of 

 one per cent, all on stock of record July 6, 1920. 



The Firestone Tire & Rubber Co., Akron, Ohio, declared the 

 following quarterly dividends : $2 on common stock, payable 

 June 20 on stock of record June 10, and one and one-half per 

 cent on six per cent preferred stock, payable July IS on stock 

 of record July 1, 1920. 



The General Tire & Rubber Co., Akron, Ohio, declared its 

 quarterly dividend of one and three-quarters per cent on pre- 

 ferred stock of record June 20, payable July 1, 1920. 



The Hood Rubber Co., Watertown, Massachusetts, has declared 

 its quarterly dividend of one and three-quarters per cent, payable 

 -August 2 on preferred stock of record July 20, 1920. 



The Kelly-Springfield Tire Co., New Y'ork City, has declared 

 the following dividends: quarterly, $2 per share, payable August 

 16 on eight per cent preferred stock of record August 2; quar- 

 terly, cash, $1 per share, and quarterly, stock, three per cent, 

 payable August 2 on common stock of record July 17, 1920. 



The Manufactured Rubber Co., Philadelphia, Pennsylvania, 

 declared its quarterly dividend of one and one-half per cent, 

 payable July 7 on stock of record June 30, 1920. 



The Meyer Rubber Co., Columbiana, Ohio, declared its quar- 

 terly dividend of two per cent, payable July IS on outstanding 

 preferred stock of record June 30, 1920. 



The A. J. Stephens Rubber Co., Kansas City, Missouri, de- 

 clared and paid its quarterly dividend on common stock July 1, 

 1920. 



The Sterling Tire Corporation, Rutherford, New Jersey, has 

 declared the following dividends : quarterly, one and three-quar- 

 ters per cent outstanding seven per cent preferred stock; quarterly, 

 two per cent on outstanding scries B. preferred stock ; and one 

 per cent on outstanding common stock — all payable July 20 on 

 stock of record July 6, 1920, 



The Tyer Rubber Co., Andover, Massachusetts, declared its 

 regular quarterly dividend of $1.50 per share, payable July IS. 

 1920, on common stock. 



The United States Rubl)cr Co., New York City, declared its 

 regular quarterly dividends of $2 per share, payable July 31 on 

 both common and first preferred stock of record July IS, 1920. 



The Westinghouse Electric & Manufacturing Co., East Pitts- 

 burgh, Pennsylvania, declared dividends of two per cent on 

 botli preferred and common stock, payable July 15 and July 31, 

 respectively, on stock of record June 30, 1920. 



FINANCIAL NOTES. 



The United States Rubber Company has sold Kuhn, Loeb & 

 Co $20,000,000 ten-year 7H per cent notes, secured by $25,000,000 

 of 6 per cent bonds, issued under the company's first and refund- 

 ing mortgage of January 2, 1917. Owing to the present time 

 being unfavorable for long-term bonds it was in the interest of 



llie C'iniii;iny to Imrrow uiion tlie bonds for a shorter period of 

 time ratlier than to sell them under existing conditions. The 

 bonds themselves run for thirty years from January 2, 1917. 

 The proceeds, with the current surplus earnings, will give the 

 company sufficient funds for the coinpletion of the plant exten- 

 sions now m progress at Detroit, Hartford, Providence and 

 Indianapolis, for the increase of the company's tire production, 

 which is far below the demand. The company does not con- 

 template any further financing and it is not expected that there 

 will be another meeting of the board of directors before the 

 middle of September 



Lee Rubber & Tire Corporation sales for the first six months 

 of 1920 were approximately $4,400,(XX) and net profits before taxes 

 amounted to $500,000. Estimated sales for the year are placed 

 at $8,500,000. Business is active, though June as usual was the 

 low month of the year. Almost SO per cent of Lee's sales are 

 now of its puncture-proof cord tires. 



Westinghouse Electric & Manufacturing Co. is again shipping 

 orders at the annual rate of fully $160,000,000. The transpor- 

 tation congestion has been entirely relieved, and orders are now 

 being shipped without delay. Orders at the parent plant during 

 first quarter of the fiscal year, which began April 1, were ap- 

 proximately $41,000,000, against $16,000,000 in first quarter of 

 the last fiscal year. Annual rate of bookings is thus over $160,- 

 000,000 for the parent plant alone, and for all plants is running 

 well above $180,000,000. 



The remarkable growth of the automobile industry the last 

 four years, especially since the close of the war, is reflected in 

 expanding production and growing prosperity of rubber com- 

 panies. 



Total sales of rubber tires in the United States this year will 

 exceed $1,000,000,000. In 1916 they were less than $500,000,000. 

 In the current year approximately 40,000,000 tires will be pro- 

 duced, compared with 18,500,000 in 1916. In addition, millions 

 of dollars' worth of rubber footwear, clothing and mechanical 

 goods will be turned out. 



The following tabulation from the Boston News Bureau, of 

 four leading rubber companies, shows net profits after taxes per 

 share on common, dividends paid on common, and net sales for 

 1916 and 1919 and estimates for 1920: 



Net Profits 

 U. S, Kiil)l>er: After Ta.xes 



1920 $33,000,000 



1919 17,730,237 



Per Share o 



t Sale. 



•Estimated annual rate. 



aStock dividend of W/, per cent declared J; 

 bCommon dividends at $8 annual 

 tBcfore federal taxes. 



cOn basis of common capitalization after 

 It stock dividend declared June, 1920. 

 dAIso 150 per cent stock dividend. 

 eAlso 100 per cent stock dividend. 

 grCurrent dividends are at annual rate of $4 a share cash 



sumed October, 1919. 



g effect to 150 per 



stock. 



hAls 



9 per 



stock dividend. 



United States Rubber Co, is the largest producer of rubber 

 footwear in the world. It ranks second in production of tires. 

 Large demand for rubber footwear which will accrue this fall, 

 when dealers replace stocks depleted by last winter's severe 



