March i, 1908.] 



THE INDIA RUBBER WORLD 



199 



News of The American Rubber Trade. 



END OF THE ATLANTIC RUBBER SHOE CO. 



THE trustees on dissolution of the Atlantic Rubber Shoe 

 Co. will offer for sale at auction, on March 20, all the 

 assets of this corporation not already sold, including pat- 

 ents granted to Henry J. Doughty for making rubber shoes 

 by machinery; certain licenses under other patents of Doughty; 

 and machines, molds, and lasts some time used in the factory 

 of The Atlantic Rubber Shoe Co. at Cranston, Rhode Island. 

 The company's factory was sold at auction on November 2, 

 1906, and passed into the possession, it is understood, of the 

 United States Rubber Co., but has not since been operated. It 

 may be noted here that the trustees on dissolution of the 

 Atlantic company are either directors in or employes of the 

 United States Rubber Co. 



The Atlantic Rubber Shoe Co. obtained a charter under the 

 laws of New Jersey in 1901, authorizing a capital of $10,000,000. 

 The object was to revolutionize the manufacture of rubber 

 footwear by the means of new mechanical appliances invented by 

 Henry J. Doughty, and which attracted the attention of rubber 

 men in all countries to an almost unprecedented extent. A fac- 

 tory was erected on an extensive scale at Cranston, Rhode Island, 

 and operated for a few months, closing finally in December, 1904. 

 Later an attempt was made to reorganize the business, and as 

 a step to that end the capital stock was written down to $800,000, 

 since which time the only intelligence made public regarding 

 the company is what is summarized above. 



Following the incorporation of the Atlantic Rubber Shoe Co. 

 a series of corporations was formed under the laws of New 

 Jersey for exploiting the Doughty system of footwear manu- 

 factured under the various foreign patents. On March 14, 1904, 

 identical articles were filed by the following new companies, each 

 with $100,000 capital authorized: 



German-American Rubber Shoe Co. 

 Anglo-American Rubber Shoe Co. 

 Belgian-American Rubber Shoe Co. 

 Franco-American Rubber Shoe Co. 

 International Rubber Shoe Co. (to operate in Russia). 



It is not understood that any active steps were ever taken 

 by the companies here named, and it appears that they have 

 ceased to exist without: the formality of any act of dissolution. 

 In other words, they come to an end simply by doing nothing. 

 On January 6, 1908, the comptroller of the state of New Jersey 

 reported a list of corporations which had failed for two years to 

 pay the corporation taxes assessed under the laws of the state, 

 after which the governor issued a proclamation (dated January 

 18 and made public on February 6), declaring that "the chart- 

 ers of said corporations are repealed and all powers conferred by 

 law upon such corporations declared inoperative and void." This 

 act of the governor does not, of course, affect the validity of 

 the foreign patents, which presumably remain the property of 

 the patentee. 



COTTON DUCK NET PROFITS LESS. 



The annual report of the Consolidated Cotton Duck Co. for 

 the year ending December 31, 1907, shows gross income from 

 sales of $10,621,387. a gain of $680,236. Net earnings were 

 $1,130,566, against $1,301,881.39 for 1906 and $917,172.08 for 

 1905. The cost of material, labor, supplies, etc., was $9,319,162, 

 an increase of $891,735. The labor account alone shows an in- 

 crease of $221,000 on a small increase of production. Of the 

 surplus of $704,566. $242,579 is derived from the operations of 

 the Consolidated Cotton Duck Co. and $461,987 from the opera- 

 tions of Mount Vernon-Woodberry Cotton Duck Co. The 

 regular semi-annual dividend of 3 per cent, is payable on 

 April I. .^t the annual meeting, at Baltimore, on February 17, 

 the director? were reelected. 



The retiring directors and officers of the Mount Vernon- 

 Woodberry Cotton Duck Co. were reelected at the same time, 

 and a semi-annual payment of V/i per cent, made upon the 

 company's income bonds. The annual meeting of the J. Spencer 

 Turner Co., selling agents for the Consolidated Cotton Duck 

 Co., resulted in the reelection of directors and officers. The 

 report showed net earnings of $175,000 for 1907, out of which 

 interest on bonds to the amount of $96,000 was paid and $77,000 

 worth of bonds were redeemed. 



NEW YORK MERCHANTS OPPOSE THE ALDEICH BILL. 



The Merchants' Association of Xew York, which has grown 

 steadily in importance, and now embraces in its membership a 

 number of important rubber firms, has issued a bulletin in op- 

 position to the so-called Aldrich emergency currency bill, now 

 before the United States Senate. The association's committee 

 requests The India Rubber World to state that the arguments 

 which occur to them as justifying opposition to the currency 

 bill will be sent to any part of the country to applicants address- 

 ing the offices of the association, at No. 66 Lafayette street. 

 New York. 



SEWARD RUBBER CO RECEIVER APPOINTED. 



Lucius C. Rvce, of Hartford, was on February 18 appointed 

 temporary receiver for the Seward Rubber Co., by Judge Shum- 

 way, of the superior court, following a meeting of the directors 

 of the company, at which it was voted to discontinue business. 

 The Seward Rubber Co. was incorporated November 23, 1905, 

 with $200,000 capital authorized, and erected a factory at Berlin, 

 Connecticut, which has been running on mechanical goods and 

 mold work. The corporation is declared to be solvent, with 

 assets of the cash value of about $64,000, and liabilities about 

 $28,800. The application states that the corporation is at present 

 threatened with various suits under which attachments may be 

 made and its property wasted. The company was organized by 

 William Seward, formerly vice-president and general manager 

 of the Hartford Rubber Works Co., who has been president of 

 the Seward company. 



NIAGARA RUBBER CO. WIN A SUIT. 



The suit of the Niagara Rubber Co. (Lockport, New York) 

 against Albert Freeman, president of the Trident Tire Co. (New 

 York City) , to secure payment for tires made for the latter con- 

 cern, resulted in a judgment in favor of the plaintiff for $7,500, 

 with interest. Mr. Freeman had bound hirnself personally to 

 secure the contract. The trial was in the New Y'ork supreme 

 court at Lockport. It is reported that efforts are being made 

 to reorganize the Trident company. 



MR. MAYOS SUCCESS AS AN ASSIGNEE. 



The Knox Automobile Co. (Springfield, Massachusetts), which 

 assigned in July last with $975,000 assets and $531,000 liabilities, 

 has been reorganized. The assignee was Alfred N. Mayo, the 

 treasurer of The Fisk Rubber Co., to whose good management 

 the rehabilitation of the company is credited. The assignee 

 issued $500,000 in preferred stock, which was accepted by the 

 creditors in full satisfaction of their claims. 



NEW YORK RUBBER OO.'S ANNUAL. 



At the annual meeting of shareholders of the New York Rub- 

 ber Co., on January 28, the following were elected trustees for 

 the ensuing year: John P. Rider, A. Montgomery, Jr., John 

 .A.cken, V. M. W. Suydam, Rufus A. Brown, W. H. L. Lee. 

 and E. S. Woodward. The officers elected later were : John 

 P. Rider, president; John Acken, vice president; Henrj^ Mont- 

 gomery, second vice president ; Rufus A. Brown, secretary and 

 treasurer. 



