September I, 1920] 



THE INDIA RUBBER WORLD 



821 



News of the American Rubber Industry. 



DIVIDENDS. 



THE AjAX Rubber Co., Inc., has declared its quarterly divi- 

 dend of $1.50 per share, payable September 15 on common 

 stock of record August 31, 1920. 



The American Chide Co., New York City, has declared its 

 regular quarterly dividend of one and one-half per cent, payable 

 October 1 on both preferred and common stock of record Sep- 

 tember 18, 1920. 



The Bergougnan Rubber Corporation, Trenton, New Jersey, 

 declared a dividend of one and three-quarters per cent, payable 

 .'Kugust 10 on preferred stock of record July 10, 1920. 



The Brunswick-Balke-Collender Co., Chicago, Illinois, has de- 

 clared a stock dividend of 150 per cent, on common stock, payable 

 in new class B stock, in addition to the regular quarterly dividend 

 of one and three-quarters per cent, which was payable August 15 

 on common stock of record August 5, 1920. 



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

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

 August 15 on its seven per cent preferred stock of record July 

 31, 1920. 



The General Electric Co., Schenectady, New York, has de- 

 clared its quarterly dividend of $2 per share, payable October 15, 

 on common stock of record September 9, 1920. 



The B. F. Goodrich Co., Akron, Ohio, and New York Citj-, 

 has declared dividends of $1.75 and $1.50 per share, the first 

 paj'able October 1 on preferred stock of record September 21, 

 and the second payable November 15 on common stock of record 

 November 5, 1920. 



The Goodyear Tire & Rubber Co., Akron, Ohio, has declared 

 its quarterly dividend of two and one-half per cent, payable 

 September 1 on common stock of record August 14, 1920. 



The Lee Rubber & Tire Corporation, Conshohocken, Pennsyl- 

 vania, and New York City, has declared its quarterly dividend 

 of 50 cents per share, payable September 1 on stock of record 

 August 14, 1920. 



The Miller Rubber Co., Akron, Ohio, has declared a quarterly 

 dividend of two per cent, payable October 1 on its new preferred 

 stock of record September 10, 1920. 



The Pennsylvania Rubber Co., Jeannette, Pennsylvania, at a 

 meeting of the board of directors held on August 20, declared its 

 regular quarterly dividends of one and three-quarters per cent 

 on preferred stock and one and one-half per cent on common, 

 both payable September 30 on stock of record September 15, 1920. 



The Rubber Products Co., Barberton, Ohio, has declared its 

 regular quarterly dividend of two per cent, payable September 

 1 on stock of record August 20, 1920. 



The Tyer Rubber Co., Andover, Massachusetts, paid the 

 regular quarterly dividend of $1.50 per share on preferred stock 

 August 15, 1920. 



nNANClAL NOTES. 



Sales of The Mason Tire & Rubber Co., Kent, Ohio, for the 

 third quarter ended July 31, 1920, were $1,748,000, compared with 

 $1,011,000 for the corresponding quarter of 1919, or an increase 

 of over 75 per cent. Sales for the first nine months of the 

 present fiscal year amounted to $5,200,000, compared with $2,550,- 

 000 for the corresponding period of last year, or an increase of 

 more than 100 per cent. 



The sales of The Goodyear Tire & Rubber Co., Akron, Ohio, 

 for the first nine months of 1920 amounted to $162,202,467.21, 



according to official announcements. The company's sales for the 

 whole of 1919 amounted to appro.ximately $168,914,000. The gross 

 sales of the company during July of the present year amounted 

 to $17,185,113, as compared with $15,989,349 during the same 

 month last year. It is estimated that the gross sales of the com- 

 pany will approximate $200,000,000 this year. 



As a result of the new preferred and common stock financing 

 and of its liquidating policy the Goodyear company is reducing 

 its loans at the banks and expects by the end of its fiscal year 

 to have its outstanding floating debt down to modest proportions. 



The Brunswick-Balke Collender Co. reports sales for the six 

 months ended June 30, 1920, of $15,243,178, a gain of $5,181,803. 

 Net profits after all taxes amounted to $2,309,826. Gross sales 

 for the first half of this year were at a record rate, showing 

 an increase of 50 per cent. Stock dividends will be paid from 

 the new stock authorized last April. In the meantime the com- 

 pany sold $3,000,000 common stock to its stockholders at par, in- 

 creasing the amount actually outstanding to $9,000,000. 



The -Ajax Rubber Co., Inc., report net earnings of $1,528,634 for 

 the six months ended June 30, 1920, equivalent to $7.64 a share 

 earned on the 200,000 shares of stock ($50 par value). This com- 

 pares with $1,886,730 or $9.43 a share in the corresponding period 

 of 1919. Gross sales were greater in volume in the first half of 

 this year than in any similar period of the company's history, ex- 

 ceeding the first six months of 1919 by about 16 per cent net. 

 The income account for the six months ended June 30, 1920, 

 compares as follows : 



1920 1919 1918 1917 



N=t earnings •$1,528,634 $1,886,730 $1,959,608 $1,257,461 



Dividends 6U0.'X)0 488,528 426,000 390,000 



$928,634 $1,398,202 $1,533,1 



$867,461 



Surplus .... 



•After providing $157,i 



Net sales of the United States Rubber Co., for the six months 

 from January 1 to June 30, 1920, were $129,588,986, an increase 

 of $30,099,615 over the corresponding period of 1919: and the net 

 income, after deducting all interest charges and after allowing 

 for depreciation and Federal taxes, was $13,690,924, an increase 

 of $3,059,490 over the corresponding period of 1919. 



The balance sheet of The B. F. Goodrich Co., as of June 30, 

 1920, shows as follows : 



Assets : current assets, consisting of cash, bills and accounts re- 

 ceivable, and inventories of raw and finished stock, $104,470,421 ; 

 investments and advances to other companies, $5,793,220, foreign 

 associated companies, etc., $8,802,624; deferred charges, $1,231,813; 

 real estate, plant, buildings and equipment, less reserves of $9,456,- 

 892, $27,762,228; patents and contracts, $1; goodwill $1; total, 

 $148,060,308. 



Liabilities: current liabilities, $31,902,556; 5-year 7 per cent con- 

 vertible gold notes due Apnl 1, 1925, $30,0000,000; reserves for 

 contingencies, pensions and amortization of war facilities, $3,759,- 

 879; preferred capital stock, $38,412,000 (par $100); common 

 (no par) represented by accumulated surplus, $43,985,873: total, 

 $148,060,308. 



The company's net profits were $7,600,000 before Federal taxes 

 for the six months ended June 30, 1920, representing a decline of 

 $100,000 from net profits of $7,700,000 for the corresponding period 

 last year. At first glance this would seem to substantiate recent 

 rumors that tire companies were doing less business. In the case 

 of Goodrich, however, sales for the first half of this year were 

 approximately $20,(XX),000 greater than in the first six months 

 of 1919 and the reason why profits did not show a corresponding 

 increase is attributed to substantial increases in the costs of raw 

 materials. The advance of from 10 per cent to 20 per cent in 



