March 1, 1916.] 



THE INDIA RUBBER WORLD 



301 



News of the American Rubber Trade. 



THE KELLY-SPRINGFIELD TIRE CO. REPORT. 



THE annual report of the Kelly-Springticld Tire Co.. Xew 



York City, for the year ending December 31. 1915, shows 



very gratifying profits. The statement in detail is as 

 follows : 



ST.\TK.MK.NT Ol'" liN'COME AND I'ROFIT .\N1> LOS.S. 



GrobS profits $_',S!<0,0S0.06 



Less: Operating expenses, including .selling, administrative 



and general expenses l,19.i,873.81 



Net operating income $1.684,J06.25 



Other income, net: Cash discounts, interest and miscellaneous. J2.537.5J 



Net income for year $1 ,706.743.77 



l:.\l..\NtK SIIKET. 



Cash in banks and on luui.l $705,051.33 



Notes receivable 104,JJ7.J0 



Accounts receivable $1,261,238.73 



Less reserve for bad debts and discounts... 143,556.40 



1,117,682.33 



Inventories at cost 1,624,607.92 



Deferred charges to operations 30,036.29 



Current assets $3,581,605.07 



Sinking fund on debenture bonds: Cash and debenture bonds 



purchased 131,750.82 



Sinking fund for redemption of first preferred stock 82.00 



Treasury stock— 6 per cent first preferred 86,800.00 



Plant accounts, good uill and patent rights, less reserve for 



depreciation 7,807,523.45 



$11,607,761.34 



LIABILITIES. 



Accounts payable $60,172.13 



Accrued charges 52,849.77 



Dividends and interest payable: 



lyi per cent on first preferred stock issued^, 



due January 2, 1916 $56,373.00 



■ due'january" 2,^^°9 1 6 .''.'^f . ! ".'^. . .1 ?' . .'.""^ . '. 1,874.25 



Interest of 4 per cent on income debenture 

 —bonds outstanding, due April 1, 1916 10,800.00 



69,047.25 



Current liabilities $182,069.15 



Fifty-year sinking fund 4 per cent income debenture bonds.. 270,000.00 



Capital stock: 



6 per cent first preferred $3,758,200.00 



7 per cent second preferred 72,600.00 



Common 4,834,600.00 



8.665,400.00 



Sinking fund for redemption of stock and bonds: 



6 per cent preferred stock $150,328.00 



4 per cent income debenture bonds 142,550.82 



— — 292,878.82 



Reserve for bonus distributions 70,674.38 



Surplus and working capital per annexed statement 2,126,738.99 



$11,607,761.34 

 SURPLUS AND WORKING CAPITAI,. 



Balance, January 1, 1915 $1,134,639.15 



Additions during year: 



Dividend declared on treasury stock $1,302.00 



Profit on purchase of 6 per cent first pre- 

 ferred stock 11,718.00 



13,020.00 



Balance as adjusted $1,147,659.15 



Net income for year ended December 31, 1915 1,706,743.77 



$2,854,402.92 

 Less: 



Quarterly dividends on- 

 First preferred stock, 6 per cent $225,492.00 



Second preferred stock, 7 per cent 46,490.50 



Common stock 265,578.00 



~$537,560.50 



Interest of 4 per cent on income debenture 

 bonds, due April 1, 1916 10,800.00 



Sinking fund of 4 per cent on income de- 

 benture bonds outstanding 10,800.00 



Sinking fund of 2 per cent on 6 per cent 

 first preferred stcck 75,164.00 



$634,324.50 

 Reserve for bonus distributions 70,674.38 



"'^""^"^""^ ''•'''■" 727.663.93 



Balance, December 31, 1915, as per balance sheet $2,126,738.99 



THE ANNUAL MEETING OF THE FISK RUBBER CO. 



.\t the annual meeting of the Fisk Rubber Co., Chicopee 

 Falls, Massachusetts, held February 16, lack of time prevented 

 action being taken on the proposition to increase the capital 

 stock of the company by $10,000,000, consisting of $5,000,000 in 

 second preferred stock and $5,000,000 common stock. This mat- 

 ter will probalily be taken up at the meeting to be held on 

 March 8. 



The regular quarterly dividends of U/i per cent, on preferred 

 stock, payable May 1, and on second preferred stock, payable 

 June 15, were declared. 



H. G. Fisk was re-elected treasurer and clerk, the re-elections 

 to the board of directors being as follows : Stedman Buttrick, 



F. H. Broadwell, J. C. Cole, H. T. Dunn, H. G. Fisk. Fred T. 

 Ley and G. A. Ludington. At the directors' meeting the follow- 

 ing officers were elected: H. T. Dunn, president; E. H. Broad- 

 well, G. A. Ludington and John Kearns, vice-presidents ; R. B. 

 McGaw, secretary and assistant treasurer; E. M. Bogardus, 

 comptroller. J. D. Anderson, E. H. Broadwell, H. T. Dunn, H. 



G. Fisk and G. A. Ludington compose the executive committee. 

 The appointment of J. D. Anderson as sales manager was con- 

 firmed. 



HABIRSHAW WIRE & .CABLE CO. AND ELECTRIC CABLE CO. MERGED. 



The Habirshaw Wire & Cable Co., Yonkers, New York., and 

 the Electric Cable Co., Bridgeport, Connecticut, have merged 

 their financial interests in the new corporation known as the 

 Habirshaw: Electric Cable Co. The officers of the new company 

 are: Edwin W. Moore, president; R. S. Satterlee, vice-president; 

 J. Xelson Shreve, treasurer, and G. N. Waterbury, secretary. 



Both plants will remain under the same tuanagement, but the 

 operating forces will be increased, and extensive plant improve- 

 ments made to meet the rapidly growing demands for the 

 Habirshaw products. 



The machinery of the Waterbury Co., Brooklyn, New York, 

 has been purchased, and will be installed in the Yonkers plant. 

 Here the large underground, high and low tension wire and 

 submarine cables will be made, while the small size insulated 

 wire will be made at Bridgeport, Connecticut. 



The general offices of the company are at 10 East Forty-third 

 street. New York City. James B. Olson has been appointed 

 general sales manager. The Habirshaw company was founded 

 28 years ago by Dr. W. M. Habirshaw, and is one of the oldest 

 concerns in America engaged in the manufacture of rubber- 

 covered wire. 



ANNUAL MEETING OF THE PENNSYLVANIA RUBBER CO. 



.-\t the annual meeting of the Pennsylvania Rubber Co., 

 Jeannette, Pennsylvania, held on February 23, the following of- 

 ficers were elected : Chairman of board, Herbert Du Puy ; presi- 

 dent and treasurer, H. W. Du Puy; vice-president, C. M. 

 Du Puy; general manager, Seneca G. Lewis; secretary, George 

 W. Shively; assistant treasurer, C. G. Morrill; directors, Her- 

 bert Du Puy, H. W. Du Puy, C. M. Du Puy, Seneca G. Lewis 

 and George W. Shively. 



The company's report for the season of 1915 shows appro.x- 

 imately a four million dollar volume of business, with earnings 

 the most satisfactory in the history of the company. The al- 

 ready heavy demand experienced for their new product, the 

 "Ebony Tread" tire, necessitates increase in building and heat- 

 ing capacity, and this new business, together with the already 

 heavy fixed demand for vacuum cup tires, necessitates prepara- 

 tion for the production of not less than 2.000 casings daily. 



