May 1, 1916.] 



THE INDIA RUBBER WORLD 



425 



REPORT OF THE CANADIAN CONSOLIDATED 

 RUBBER COMPANY. LIMITED. 



WICE-PRESIDENT and Cicneral Manager T. H. Kiedcr, of 

 the Canadian Consolidated Rubber Co., Limited, under date 

 ol -April 4 submitted his annual report covering the year end- 

 ing December 31, 1915. He states that the volume of business 

 done in 1915 was 20.43 per cent greater than in 1914. While the 

 selling values of some classes of manufacture were advanced, 

 others were reduced, so that the whole difference is very small. 

 This increased volume was attained by the sale of automobile 

 tires throughout the year, and by other lines especially during the 

 last four months of the year. 



Continuing, Mr. Rieder reports: 



The stocks of raw materials show quite an increase, due to 

 increased cost and somewhat larger supplies kept on hand. 

 Manufactured goods show practically no change as a whole, 

 although we were better prepared with tire stocks than the 

 year before. 



We have now completed a tive-year period of our present sales 

 plan and the position of your company in the rubber trade of 

 Canada, as well as the profits, have progressively demonstrated 

 the stability of this policy. Losses by bad debts spread over 

 15,000 active retail accounts have not been abnormal at any time 

 during this period, and due to the policy pursued of making 

 provision for possible bad debts, in proportion to sales, the un- 

 used reserve for bad debts is always ample. 



Your directors sold November 1, 1915, 5 per cent short date 

 debentures to the amount of $2,500,000. The proceeds were used 

 to reduce e.xisting bank loans, and resulted in a slight saving of 

 interest. 



The continuity of staff and management of your compan\' has 

 progressively manifested itself in etticiency and loyalty to your 

 company and in its desire and ability to serve the retail trade 

 in Canada. 



All your properties have been maintained in first class operat- 

 ing condition. Any e.xpenditures for repairs and replacements 

 have been charged to cost of operating. 



For 1916 your directors anticipate a continuance of the confi- 

 dence which the retail trade has in the past given to your com- 

 pany. The year has started with good prospects and your di- 

 rectors have found it necessary to reopen the Granby footwear 

 factory, which had been non-operative for two years, as the re- 

 quirements of our new export department promise to overtax 

 our mills now operating. 



Mr. Rieder closed his report with a brief reference to the death 

 of President JMcKechnie, on February 8, and an expression of 

 appreciation of his many years of valuable service. 



The financial statement of the company is given in full below : 



(OMBi.sED ST.JiTEMENT CONSOLIDATED AND CONSTITUENT 



COMPANIES, DECEMBER 31, 1915. 



Assets. 



Property and plants $5,507,51-1.22 



ufacti:red goods and materials... $3,432,745.66 



71,180.65 



1,490,492.65 



4,218,056.00 



276,675.50 



Cash . . 



Accounts and bills receivable . . 



Investments, including good will. 



Si.x per cent bonds due October 1, 1946 

 Five per cent debentures due December 



Bills payable 



Accounts payable and sundry accruals... 

 Reserve for bad debts, depreciation, etc. 

 Surplus 



$5,805,500.00 

 2,597.000.00 

 2.500,000.00 



$15,096,664.68 



Income. 

 cs, footwear, tires, mechanical and miscellaneous..... $7,522,1 

 goods sold, selling and general expenses, taxes, inter- 

 on borrowed money, repairs, depreciations, provisions 

 bad deltts and tire replacements, net 6,987,1 



OFFICERS AND DIRECTORS OF THE CANADIAN CONSOLID-IIED 

 RUBBER CO.. LIMITED. 



-Vt tlu- annual meeting of the shareholders 1 1 directors were 

 reelected. The vacancies caused by the death uf President -Mc- 

 Kechnie and the retirement of A. J. Kimmel wcie filled by the 

 addition of R. C. Colt and W. A. Eden, both of .Montreal, the full 

 list being as follows : 



Walter Binmore, Montreal, Quebec. 



R. E. Jamieson, Montreal, Quebec. 



E. W. Xesbitt, M.P., Woodstock, Ontario. 



R. B. Price, New York City. 



W. G. Parsons, New York City. 



Homer E. Sawyer, -\ew York City. 



Elisha S. Williams, New York City. 



Colonel S. P. Colt, New York City. 



T. H. Rieder, Berlin, Ontario. 



V. E. Mitchell, K.C., Montreal, Quebec. 



R. C. Colt, Montreal, Quebec. 



W. H. Robinson, Granby, Quebec. 



W. A. Eden, Montreal, Quebec. 



At a meeting of the directors following the sliareholders' meet- 

 ing the following officers were appointed: W'. H. Robinson, 

 president ; T. H. Rieder, vice-president and general manager ; W. 

 A. Eden, secretary ; Walter Binmore, treasurer ; R. C. Colt, assist- 

 ant secretary; .-X. Dwyer, assistant treasurer; T. P. B. Daigneau, 

 assistant treasurer. 



THE NEW YORK UNDERWRITERS' LABORATORrES. 



The work of the electrical department of the L'nderwriters" 

 Laboratories is conducted partly at the principal oflfice and test- 

 ing station in Chicage, and partly at the electrical testing station 

 maintained in connection with the New York office. This ar- 

 rangement, in effect since May, 1912, has been found to be very 

 convenient and economical, inasmuch as a large proportion of 

 the manufacturers of electrical wares are located in the east. 



The electrical testing station in New York is located at 92 

 X'andam street, in a building adjoining a sub-station of the -New 

 ^'ork Edison Co. This location makes available for test pur- 

 poses supply circuits of a range of voltage and current capacities 

 that would be difficult to obtain elsewhere. When special 

 apparatus requires facilities not furnished by the testing station 

 equipment, arrangements are made for doing the work at the 

 factories where the devices are made, or by means of special 

 equipment arranged for the purpose. The station is provided 

 with equipment for insulation resistance tests for rubber-covered 

 wires, although most of this work is conducted at the Chicago 

 office. 



The New York office and electrical laboratory are in charge 

 of Dana Pierce, vice-president ; E. P. Slack and William Small, 

 associate electrical engineers, and C. H. Holway. laboratory 

 assistant. 



UNITED STATES CUSTOMS RULING ON TOY BALLOONS. 



.\ rubber balloon is a toy, even though it has an advertisement 

 painted upon it. Such is the decision of Judge Sullivan in the 

 case of Q. Nervione, Chicago, Illinois. This merchant imported 

 small rubber balloons, some with and others without advertising 

 matter printed on the sides. The collector levied 35 per cent 

 duty on the articles on the ground they were "parts of toys." 

 Entry at 10 per cent was asked under the provision for "manu- 

 factures wholly or in chief value of india rubber or gutta percha, 

 not specially provided for," One of the protestant's w^itnesses 

 testified that most of the balloons were sold for advertising pur- 

 poses. The general appraiser claimed that nowhere in the record 

 was there proof that the balloons were not used by children as 

 playthings, or that they were reasonably fitted for other pur- 

 poses. -Affirming the collector, the decision held that advertising 

 matter on balloons did not prevent a child from usini: them as 

 playthings. '*' 



