RIakch 1, 1Q08.] 



THE INDIA RUBBER WORLD 



195 



THE RUBBER TRADE IN CANADA. 



IN view of the numerous nunors which liave appeared in print 

 *■ during the past several months regarding a community of 

 interest between the United States Rubber Co. and the Canadian 

 ConsoHdated Rubber Co., Limited, it may be mentioned that an 

 authorized statement was made public last summer from Mon- 

 treal that "The United States Rubber Co. has not bought a share 

 of stock in the Canadian concern and has not a cent's worth 

 of interest in it." [See The India Rubber World, July i, 1907 — 

 page 324.] The situation as there stated appears still to be true, 

 though it may be noted that a block of stock, understood to 

 amount to $1,500,000, in the Canadian Consolidated Rubber Co., 

 Limited- — of their total capital of $5.000,000 — is held by a syn- 

 dicate formed by capitalists having friendly relations with the 

 United States Rubber Co. The possibility that tliis syndicate may 

 ultimately transfer their holdings to the United States company 

 doubtless is the inspiration for the rumors of consolidation which 



have prevailed. 



* * * 



The Montreal Ilrrald, in regard to a report printed in Can- 

 ada that there were "warring factions" among the company's 

 share holders, said in a recent issue : "It is said that, with only 

 one isolated exception, the .shareholders are unanimous in their 

 position in regard to the sale of the property to the United 

 States Rubber Co. It is understood on every hand that every 

 concern has a price at which it will sell out, and if the share- 

 holders of the Canadian concern can secure advantageous terms, 

 it would be only a matter of business for them to accept. As 

 for those shareholders who may not accept the situation, their 

 rights will, of course, be represpected by the absorbing company. 

 That, at least, is the opinion of one of the shareholders of the 



f!anadian company." 



* * * 



The first annual meeting of the Canadian Consolidated Rubber 

 Co., Limited, was held at Montreal, on February 26, when the 

 financial statement of the company was presented to the share- 

 holders. It is understood that this was very satisfactory, 

 though the date of the meeting was too late in the month for 



a review of its report in this issue. 



* * * 



The resignation of Mr. S. H. C. Miner from the presidency of 

 the Canadian Consolidated Rubber Co., Limited, some months 

 ago has been attributed to his objection to the transfer of shares 

 in the company to the syndicate referred to, and to the policy 

 which made the transfer possible. At any rate Mr. Miner, who 

 has been an important factor in the development of the rubber 

 industry in the Dominion, is planning a new rubber footwear 

 plant there which will be entirely independent of any combina- 

 tion in the trade. At present his proposition relates to the 

 location of the new factory at Granby. 



While the volume of the wholesale rubber shoe trade in 

 Canada has been less than last year, according to The Canadian 

 Shoe and Leather Journal, the results have been apparently 

 satisfactory otherwise. The Journal thinks that the manu- 

 facturers, at least, have not done badly. "Prices on the finished 

 product were made when the rubber market was considerably 

 higher than when the goods came to be made, and although a 

 good deal of rubber was contracted for at higher figures than 

 prevailed during the manufacturing season there was consider- 

 able margin. The rubber manufacturers, therefore, made really 

 two profits last year, one on the goods and another on the raw 

 material." The Journal sees no indication of a reduction in 



rubber footwear prices. 



* * * 



At the annual meeting of the Rubber Boot and Shoe Jobbers' 

 Association of Canada, at Montreal, on January 21, thirty-four 



firms were represented. Interest in the association appears to be 

 well maintained, and it is regarded as being of definite value 

 to the trade. It was stated that during the coming season 

 "seconds" in rubber footwear will be sold exclusively through 

 the jobbing trade. Clarence F. Smith was elected president and 

 Joseph Daoust and N. L. Martin (64 Wellington street, West, 

 Toronto) were reelected treasurer and secretary, respectively. 

 * * * 



A RECENT Montreal financial report quotes the bonds of the 

 Consolidated Canadian Rubber Co., Limited, at 82^:4 to 85. on 

 sales of $14,000, and the asking price since has been higher. 



IN THE FOOTWEAR TRADE. 



'X'HE current fiscal year of the United States Rubber Co., 

 ■*• which closes with the end of this month, will show a greater 

 total volume of business than any previous year, and the indica- 

 tions are that the profits will also prove larger. The detailed 

 report will not be due, however, until near the date of the annual 

 meeting, which occurs this year on May ig. Regarding the 

 company's business, it is to be noted that the bulk of its pro- 

 duction for the business year was sold before the financial flurry 

 last fall. Furthermore, if the present winter should in the end 

 prove unfavorable for the sale of footwear, the effect would not 

 be apparent in the accounts of the manufacturers until the fol- 

 lowing year. It would mean that goods now in the hands of 

 dealers would be held over and lessen the demands upon the 

 factories ne.xt summer. 



No uneasiness has been felt on account of the weather, how- 

 ever. It is true that there was little snow during the earlier 

 part of the winter, but the preceding winter opened in the 

 same mild fashion, winding up with so much snow as to clear 

 out all the dealers' stocks. Somebody in the trade recalls that 

 not until January 25, 1907, was there any real "rubber weather" 

 that winter. The manufacture of rubbers was curtailed this 

 season, however, as a precautionary measure, in view of the 

 unsettled financial situation, but now all the factories are run- 

 ning. 



The Boston Rubber Shoe Co.'s factory Xo. 2 in the Fells dis- 

 trict of Maiden, resumed work with full time on February 5, 

 after a shutdown which began early in December. Factory 

 No. I was shut down at the same time, but remained closed 

 only a few days, and lately was working 7 hours a day. The 

 two rubber footwear factories at Naugatuck, after having been 

 closed since December 14, resumed work on February 10. 



Rubber footwear prices have not been changed this year — 

 either in list quotations or discounts. The policy of the manu- 

 facturers has been to keep prices as stable as possible, lists not 

 having been revised to meet the highest prices attained in the 

 raw material market. Prices to retailers to-day are the same as 

 during 1906 and 1907, except that between January i and April i, 

 1906, an extra 5 per cent, discount was offered to induce the 

 early placing of orders, but no such discount has been aliowed 

 since the last date named. 



The $8,000,000 in funding notes of the United States Rubber 

 Co. outstanding will have to be dealt with very shortly, but plans 

 for their payment have been purposely deferred, with a view 

 to securing the fullest advantage of the continued improvement 

 in bond and money market conditions. 



There appears to have been considerable investment buying of 

 United States Rubber Co. shares of late, it being stated that 

 the number of holders was increased by 800 during the last 

 quarter of 1907. 



It is reported from West Africa that the amount of cotton 

 ginned at the ginneries of the British Cotton Growing Association 

 during 1907 was 9207 bales (of 400 poimds), as compared with 



5841 bales in 1906 and 2762 bales in 1905. 



