February 1, 1916.] 



THE INDIA RUBBER WORLD 



251 



In addition to this, purchases of crude materials during the 

 past year were rather more fortunate than usual. 



These conditions may or may not prevail in the future and the 

 directors are not disposed to base the dividend policy of the 

 company upon results that might prove to be temporary in 

 character. 



While the company has done its share of the so-called war 

 business, the total amount exported direct and through customers 

 has probably not exceeded 5 per cent, of the total gross business 

 of the year. 



A new garage is being built by the Goodrich company, 169 x 315 

 feet in size, and six stories high. Hugh elevators will be in- 

 stalled, making possible the use of the first two floors as a 

 garage both for company and employes, who own over 600 auto- 

 mobiles, valued at about $600,000. The upper stories of the 

 garage will be used as service stations and workshops. 



The boot and shoe salesmen of the Goodrich company held 

 their annual convention at the Akron plant during the last few 

 days of December. Nearly 200 were present. 



The Goodrich company has issued a public challenge, declaring 

 itself willing to throw open its books and records to an inde- 

 pendent audit company in order to prove that it manufactures 

 more auto and truck tires combined than any other concern in 

 America. 



The new Diamond tires are made of "Velvet-Rubber," a re- 

 cently developed rubber composition for which exceptional quali- 

 ties are claimed. 



The annual meeting of the Portage Rubber Co., Barberton, 

 Ohio, was held on January 4, at 10:30 a. m., followed by a 

 luncheon for the stockholders that was served in a recently 

 completed addition to the plant. 



By vote of the stockholders the number of directors was re- 

 duced from ten to eight, and the following directors were 

 elected for 1916: James Christy, M. S. Long, W. W. Wildman, 

 John Kerch, J. D. Raw, Fred H. Snyder, Dr. O. S. Welty and 

 David Reed. The directors elected as officers, James Christy, 

 president; M. S. Long, vice-president; W. J. Anderson, secre- 

 tary, and W. W. Wildman. treasurer and general manager. A 

 quarterly dividend of 1% per cent, was declared on the common 

 stock. Following is the condensed statement of the company, 

 covering the period from December 1, 1914, to December 1, 1915: 

 ASSETS. 



Cash on hand and in bank $60,184.56 



Notes receivable 43,940./2 



Accounts receivable 206,756.09 



Stock on hand ( raw and tini^hed ) 284,842.36 



Real eMale. bnildings and machinerv 337,979.97 



Trademarks, patents and good will 496.000.00 



All other assets 15,536.76 



$1,445,240.46 

 I.iAlilLITIES. 



Accounts payable (pav roll not due) $10,806.57 



Reserve fund (depreciation) 6,992.77 



Capital stock (preferred) 750.000.00 



Capital stock (common) 500,000.00 



Surplus 177,441.12 



$1,445,240.46 



Total sales for year 1915 $1,067,858.30 



Total sales for year 1914 661,848.53 



Increase in volume 1915 over 1914 61.3% 



Total profits for year 1915 129,005.76 



Total profits for year 1914 88,102.13 



Increase per cent, of profit 46.4% 



Since this statement was made the item of trade-marks, pat- 

 ents and good will lias been reduced to $396,000 by taking 

 $100,000 from the surplus. 



The Goodyear Tire & Rubber Co. has established a plan of re- 

 tirement awards by which provision is made for stated monthly 

 payments for life to men employes who have reached the age of 

 70, and women who have reached 65. There is also a condition 

 under which old employes may retire, with awards, under the 

 age limits mentioned. A group insurance plan has been in- 



augurated, which allows an insurance policy for $1,000, free of all 

 cost, to any employee who is or becomes a member of the Good- 

 year Relief Association, a Goodyear institution of long standing 

 which provides sick and disability insurance. 



In order to keep up with orders, it is necessary for the Good- 

 year factory to work every hour of the day and night. The 

 problem of night work has been met by introducing a si.x-hour 

 shift and a bonus system for the special force of men who are to 

 work during the hardest part of the night, from midnight to six 

 a. m. This force will work permanently at night, and in return 

 will gain a bonus of 40 per cent, of the amount earned in the 

 six hours of labor. 



A unique feature of the Goodyear factory is a large tire- 

 finishing room where the sound of a human voice is rarely heard. 

 The 60 men in this department — said to be the only one of its 

 kind in the city — are all deaf-mutes, and it has been found that 

 they are more skillful in lines of work that require keen sight 

 and quick observation than men who can voice their speech. 



The carriage tire department and the fire truck department 

 of the Goodyear company have been combined under one head 

 and placed in charge of F. H. Sawyer, who has had charge of the 

 fire truck department. 



The Adamson Machine Co. will manufacture practically all of 

 the machinery and equipment to be installed in the new plant of 

 the Gillette Safety Tire Co., Eau Claire, Wisconsin. 



The Miller Rubber Co. is to add to its plant an eight-story 

 building, 110x175, and a three-story building, 80x135 feet, con- 

 struction of which will begin in the spring. Facilities for the 

 company's manufacture of toy balloons have been increased. 



Stockholders of the Miller company have been offered the 

 right to subscribe to $500,000 worth of stock in the company to 

 the extent of SO per cent, of their holdings. This stock has been 

 held as treasury stock and is now to be sold. 

 ' » * * 



The addition to the plant of the Star Rubber Co. mentioned 

 last month will comprise a three-story building 70x100 feet. 

 This company has been making automobile sundries and is now 

 to begin the manufacture of tires. 



The Alohawk Rubber Co. has doubled its capital stock, which 

 is now $500,000. 



The first official meeting of the McLean Tire and Rubber Co., 

 Cleveland, Ohio, was held on January 22. The following officers 

 were elected: John C. McLean, president; \V. B. Davis, vice- 

 president, and T. J. Holmden, secretary and treasurer. This 

 organization has purchased the building and equipment of the 

 Morgan & Marshall Rubber & Tire Co., East Liverpool, Ohio, 

 and will commence operating the plant early in February. 



The Keystone Rubber Manufacturing Co., Inc., Erie, Penn- 

 sylvania, is making the "Keystone Universal" inner tube, in black 

 with a red reinforced rim strip adapted for either 30 x 3 or 30 x 

 3J4-inch Ford tires. 



The .\Iuminum Flake Co., with offices in the Ohio Building, 

 Akron, Ohio, has recently completed its new factory on East 

 High street, Barberton, Ohio. The building is 76 x 96 feet. A 

 new drying process and a line of up-to-date machinery have re- 

 cently been installed. 



The General Rubber Manufacturing Co., mentioned last month, 



has changed its name to the General Tire & Rubber Co., and is 



now making tires and tubes at the daily rate of 400 and 1,000, 



respectively, as well as a large output of tire accessories. 



* * * 



F. A. Seiberling, president of the Goodyear Tire & Rubber 



