360 



THE INDIA RUBBER WORLD 



I April 1, 1916. 



plantations in Sumatra during the past year. The amount of 

 crude rubber received therefrom in 1915 was relatively small 

 compared with our requirements, but was in excess of previously 

 estimated production. From now on the increase in production 

 of our Sumatra estates will be rapid as tlie great number of 

 young trees arrive at the bearing age. I cannot speak too 

 strongly of the efficiency and loyalty of those in charge of our 

 plantations, and so far all their predictions of success have been 

 more than borne out, and the outlook for the future is most 

 flattering. 



PREP.VREDNKSS. 



Your directors believe that the unsellish efforts of every corpo- 

 ration are needed to achieve adequate preparedness in the United 

 States, whether for peace or defense. Accordingly they have 

 approved of our employes joining the National Guard, and 

 have agreed to give them the necessary time for camp and 

 other military duties without prejudice to their salaries or to 

 their positions with the company. It is also believed that through 

 the fostering of trade associations and the cooperation of such 

 associations much may be accomplished in the direction of in- 

 dustrial mobilization, 'without which true preparedness is im- 

 possible. Finding that the Navy Department of the United 

 States was in need of some research work in aeronautics, but 

 was without an appropriation for carrying on the investigation, 

 your company volunteered to do this work for the government. 

 This was done, and has proven a useful and practical con- 

 tribution to preparedness. 



THE OUTLOOK FOR THE FUTURE. 



At no time in the history of our company has there been greater 

 activity in its business. AH our factories are now being operated 

 at full' capacity, and steps for enlargement of certain plants and 

 for increase of production are being taken, and the work pushed 

 forward with all dispatch. One of the plants now in process 

 of enlargement is the tire factory of Morgan & Wright at De- 

 troit. This work is under way, and when completed will double 

 the capacity of that plant. Since the beginning of the year a 

 property adjoining that plant has been acquired to better carry 

 out this enlargement. 



SEMI-ANNUAL REPORTS. 



In accordance with the action taken by the directors on Sep- 

 tember 16, 1915, the stockholders will be furnished hereafter with 

 semi-annual reports, as of June 30 and December 31. 

 CONCLUSION. 



It again gives me much pleasure to refer to the continued 

 fidelity and ability shown by the officers, heads of departments 

 and employes of the company and its subsidiaries. 



TREASURERS REPORT. 

 UNITED STATES RUBBER CO. AND SUBSIDIARY 



COMPANIES. 

 Consolidated General Balance Sheet, December 31, 1915. 



Property, plar 

 Cash 





Libber pla 



afactured goods : 



and loans receivable... 



Accounts receivable 



Securities, including stock of 

 held by subsidiary companies 



Sinkii 



Miscella 



.$39,768.. 

 . 13,102,407.57 

 . 1,562.983.74 

 . 20,820,333.79 



.$126,347,930.90 







80,203,512.50 



Total Assets $206,551,443.40 



Capital stock, first preferred. 

 Capital stock, second preferre 

 Capital stock, common 



.$59,692,100.00 



458.400.00 



. 36,000.000.00 



Capital stock. Rubber Goods Mfg. Co. — 



Preferred issued $10,351,400.00 



Owned by U. S. R. Co., deposited with trus- 

 tees 8,862,400.00 



Common issued $16,941,700.00 



Owned b) U. S. R. Co., deposited with trus- 

 tees 16,898,400.00 



$96,150,500.00 



Minority Canadian Consolidated 1 



preferred $283,665.(10. Lommm, S 

 Ten-vear 6% cul!,,;. 



U.'S. R. Co 



General Rubber ( 

 Ten-year 5% del.:, 



Mfg. Co 



Fortv-year 6% colIatcr;iI trust g.-ld 1 



Canadian Consolidated Rubber 



lubber Co., Ltd., stock, 



06,535.00 



'king fund gold bonds 



.'.'.'.'.'.".'."$'9',666,'obo.66 



43,300.00 



490,200.00 



16,500,000.00 



Co., Ltd. 



Less 



ed by subsidi: 



.$2,600,000.00 

 3,000.00 



Canadian Consolidated Ruhlxr Co., Ltd. 



5% debentures 2,500,000.00 



Morgan and Wright — 



5% debentures ' $5,000,000.00 



Owned by U. S. R. Co 2,000,000.00 



3,000,000.00 



Mechanical Rubber Co. and New York Belting 



and Packing Co. bonds 791,000.00 



18,858,000.00 



Notes and loans payable 19,939,709.23 



.Acceptances for importation of crude rubber... $1,135,601.08 



Merchandise accounts payable 6,111,514.27 



.Accrued interest, taxes, etc 494,738.92 



7,741,854.27 



Reserved for dividends 1,200,718.00 



Insurance fund reserve .-. $809,499.27 



Employes' accident fund 286,110.06 



1,095,609.33 



Reserve for depreciation 5,000,000.00 



I'ixed surpluses (subsidiary companies) 15,080,230.78 



•Surplus 22,962,321.79 



Total Liabilities $206,551,443.40 



*Of this surplus $223,556.55 pertains to minority stock interests. 



CONSOLIDATED INCO.VIE ST.ATEMENT FOR YEAR ENDING 



DECEMBER 31, 1915. 



Net sales, footwear, tires, mechanical and miscellaneous $92,861,015.98 



Less: 

 Cost of manuf;.cture, selling, general expenses and taxes 79,243,881.84 



Operating profits $13,617,134.14 



Other income tnet) 193,783.92 



Total income $13,810,918.06 



Cash fliscount allowed customers for prepayment 



(net! ; $1,766,659.77 



Deductions for bad debts 375,252.85 



Federal income tax, 1915 182,300.91 



2,324,213.53 



.Vi?( income prior to interest charges $11,486,704.53 



Interest on loans, notes and accounts payable 1,083,927.72 



Interest on funded debt 1,706,687.66 



Net Profits $8,696,089.15 



Income credits applicable to period prior to 1915 836,971.31 



$9,533,060.46 

 Income charges applicable to period prior to 1915 1,175,479.62 



Net Income ." $8,357,580.84 



Dividends— United States Rubber Co. 



1st preferred, 8% $4,764,632.00 



2d preferred, 6% 30,906.00 



Common (April), 1 VS % 540,000.00 



$5,335,538.00 



Dividends to minority stockholders of subsidiary 



companies 139,995.00 



5,475,533.00 



Surplus for period $2,882,047.84 



Surplus beginning of period $20,005,322.75 



.Additions to surplus: 



Capital gain in conversion of second pre- 

 ferred into first preferred stock 25,000.00 



.\djustment applicable to prior year 49,951.20 



20,080,273.95 



Surplus, December 31, 1915 $22,962,321.79 



Respectfully submitted. 



W. G. Parsons, Treasurer. 



ANNUAL ELECTION. 

 BOARD OF DIRECTORS FOR 1916 



The annual meeting of the stockholders of the company was 

 held at .\ew Brunswick, New Jersey, March 22, and the fol- 

 lowing directors were elected : 



Walter S. Ballou, Providence, R. I. 



James C. Brady, New York City. 



Nicholas F. Brady, New York City. 



Middleton S. Burrill, New York City. 



Samuel P. Colt, Providence, R. I. 



Harrv E. Converse, Boston, Mass. 



Edgar B. Davis, Brockton, Mass. 



James Deshler, New Brunswick, N. J. 



James B. Ford, New York City. 



Francis L. Hine, New York City. 



Henry L. Hotchkiss, New Haven, Conn. 



Lester Leland. Boston, Mass. 



Samuel M. Nicholson, Providence, R. I. 



Raymond B. Price, New York City. 



Homer E. Sawyer, New Y'ork City. 



William H. Truesdale, Greenwich, Conn. 



Theodore N. Vail, Boston, Mass. 



Elisha S. Williams, New Y'ork City. 



