April i, 1908.] 



THE INDIA RUBBER WORLD 



233 



The Rubber Trade in the Dominion. 



CONSOLIDATED COMPAlfY'S SECOND ANNUAL. 



THE second annual meeting of the shareholders of the Can- 

 adian Consolidated Rubber Co., Limited, held at Montreal, on 

 February 26, was marked by a full attendance and complete 

 harmony. The report of the board of directors, which was read 

 and approved, appears in full below. The following shareholders 

 were elected directors for the ensuing year : D. Lome McGibbon, 

 George W. Stephens, J. H. McKechnie, James Robinson, C. C. 

 Ballantyne. A. Pringle, D. Coulson, V. E. Mitchell, W. R. Allan, 

 E. W. Nesbitt, and Sherley Ogilvie. Later the official board was 

 made up as follows : 



President and Managing Director — D. Lorne McGibbon, reelected. 

 yice President — Major George W. Stephens, reelected. 

 Second I'icc President — J. H. McKechnie. (A new office.) 

 Chairman Execiitize Committee — James Robinson. (A new office.) 

 Secretary-Treasurer — P. D. Saylor, succeedinR F. H. Ward. 

 Assistant General Manager — Fleetwood H. Ward. (A new office). 



Annu.\l Report to the Sh.^reholders. 



Your directors beg to submit to you the second annual re- 

 port of the company, covering a period of ten months, from 

 March i to December 31, 1907. 



The work of reorganizing and systematizing the business of 

 the subsidiary companies has proceeded steadily along the lines 

 as originally laid out, with the view of bringing the progress 

 of the various companies more fully under the practical control 

 of the management of this company. A scheme has been devised 

 whereby the monthly results of all the companies may be com- 

 pared and the benefit of any special process in manufacturing, 

 which might formerly have accrued to one company only, is now- 

 shared by all. The consolidation of the purchasing, which now 

 is practically all done by this company, has resulted in a 

 substantial reduction in the prices paid for much of the raw 

 material used in the business. 



Since the last meeting, the outstanding shares of The Granby 

 Rubber Co., Limited, amounting to 250 shares, have been ac- 

 quired and, subsequent to the end of your fiscal year, a mort- 

 gage in favor of The Royal Trust Co. has been placed upon 

 the Granby property for the benefit of this company's bond- 

 holders, and in accordance with the deed of trust executed 

 before Herbert M. Marler, notary, on October 9, 1906. 



Some further transfers have been made by the shareholders of 

 The Canadian Rubber Co., of Montreal, Limited, and there now 

 remain only 904 shares outstanding, of which 45 shares are 

 held by the directors. 



During the year the necessary steps were taken to terminate 

 the fiscal years of all the companies on December 31, and your 

 directors believe that this course will commend itself to you as 

 enabling them in the future to present to you, annually, state- 

 ments for the full current year. 



The individual statements of all the companies have been 

 duly audited and when reduced to the basis of a financial year of 

 twelve months show a total net profit at the rate of $596,982.18 

 per annum, which exceeds the amount required to pay the in- 

 terest on the company's bonds and the dividend on the pre- 

 ferred stock by $311,870.18. 



Total sales made by all the subsidiary companies aggregate 

 $6,659,598.81, showing a satisfactory increase for the year. 



The general condition of the shoe trade has been quite satis- 

 factory during the year, and from present indications it is be- 

 lieved that the year 1908 will show an acceptable increase in the 

 business and earnings of your various companies. 



It is with deep regret that your directors announce that owing 

 to temporary illness your president and managing director, Mr. D. 

 Lorne McGibbon, has applied for six months' leave of absence, 

 which has been granted to him. Your directors feel that all the 

 shareholders will join with them in wishing Mr. McGibbon a 



speedy return to heahh. His labors in the interests of the 

 company, from its inception to the present time, have been in- 

 defatigable, and the statement which is to be submitted to you at 

 this meeting, and the present prosperous condition of all the 

 subsidiary companies which this company controls, speak elo- 

 quently of the success which has attended Mr. McGibbon's ef- 

 forts on behalf of the shareholders. 



For the past year Mr. McGibbon's energies have been devoted 

 to placing all the subsidiary companies on a thoroughly organ- 

 ized basis, and this has been accomplished so efficiently that the 

 outgoing board feel that during Mr. McGibbon's enforced ab- 

 sence the only change which is necessary is to associate more 

 closely with the active management of the company, Mr. J. H. 

 McKechnie and Mr. James Robinson, members of the present 

 board of directors, whose knowledge and experience in the rubber 

 business is beyond question. 



It is intended to appoint Mr. J. H. McKechnie, who for so 

 many years managed the affairs of The Granby Rubber Co., 

 Limited, second vice president, and Mr. James Robinson, who 

 organized and made such a success of The Maple Leaf Rubber 

 Co., Limited, chairman of the executive committee. Both these 

 gentlemen have agreed to accept the positions offered to them 

 and will give the present staffs of this company and the sub- 

 sidiary companies all the advice and assistance in their power. 



JAMES ROEIXSOX, Chairman. 

 NEW RUBBER FOOTWEAR PRICES. 



New lists on. rubber footwear were issued by the Canadian 

 manufacturers on March 2 — practically the same date as last year. 

 On the whole list prices are a trifle lower, though on a number 

 of items no change has been made. Prices are all listed at even 

 figures, in order to meet the views of the retailers, some of whom 

 objected to the odd list prices heretofore in vogue. An item listed 

 last year at 78 cents figures now at 80, or 93 is changed to 95, but 

 in other cases there has been a decline. Similarly, when dis- 

 counts are applied, there are fewer cases of fractions of cents 

 appearing. The discount to retailers is 20 per cent, against I5@3 

 per cent, last year, 20 per cent, in 1905-06, and 17 per cent, in the 

 year before that. The difference is that the retailer will now pay 

 80 cents for an article listed at $1 instead of 82^ cents last year. 

 A special discount of 5 per cent, is allowed on orders placed be- 

 fore May I and shipped before November i, 1908. A similar dis- 

 count for early orders was allowed during the two j-ears preced- 

 ing. Besides these discounts and the customary discount for 

 cash, the manufacturers allow a bonus rebate, to be governed by 

 the volume of orders given by the purchaser during the sea- 

 son, the bonus being payable .April 10, 1909. 



IT PAYS TO WEAR RUBBERS IN MONTREAL. 



The rubber trade in Montreal have been delighted by a deci- 

 sion rendered by Mr. Justice Bruneau in a suit for damages 

 brought against that city by a citizen who slipped upon a defective 

 sidewalk and was injured. The judge condemned the defendant 

 to pay $75 and costs of the action. He observed, however, that 

 as the plaintiff was not wearing rubbers, he could not expect the 

 indemnity to which he might otherwise have been entitled, as he 

 looked upon this as negligence on his part under the circum- 

 stances. 



The decision also was viewed with satisfaction at the Montreal 

 city hall. There is snow on the sidewalks all winter, and slip- 

 ping on them is by no means unusual. If neglect to wear rub- 

 bers is to be recognized as contributory negligence, the author- 

 ities feel that the city's position in the position of defending 

 damage suits will be greatly improved. 



In printing the above it is not intimated that it does not pay 

 to wear rubbers outside of Montreal. 



