410 



THE INDIA RUBBER WORLD 



[April 1, 1917. 



H. L. McCLAREN. 



HL. McCl.AKEX, ulio has recently been elected vice- 

 • presideiil and sales manager of the Ajax Rubber Co., 

 Inc., Xew York City, is a veteran in tlie tire business, his record 



dating back to the 

 days of Morgan & 

 Wright, with whom 

 he advanced to the 

 position of sales 

 manager for the 

 Middle West, con- 

 tinning in the same 

 capacity with the 

 United States Tire 

 Co.. which absorbed 

 the business of that 

 concern. In 1912 he 

 became vice - presi- 

 dent and general 

 manager of the Ra- 

 cine Rubber Co., 

 Racine, Wisconsin, 

 and later, its presi- 

 dent. His achieve- 

 ments with that 

 firm induced the 

 financial i n t e rests 

 back of the Mitchell- 

 Lewis Motor Co.. Racine. Wisconsin, to elect him president, and 

 in this dual capacity he put the motor company on its feet and 

 se.xtupled the business of the tire company. 



The Aja.x Rubber Co., Inc., recently purchased the business of 

 the Racine Rubber Co., and now the products of both companies 

 will be marketed separately under Mr. McClaren's direction. 

 He has resigned his position with the Mitchell-Lewis Motor 

 Co. and will devote his entire energies to the tire business, in 

 which line his record has been a continuous and striking success. 



THE FISK RUBBER CO. REPORT. 



L. McCl.vren. 



A T the recent annual meeting of The Fisk Rubber Co., Chicopee 

 ^ ^ I'alls, Massachusetts, the following officers and directors were 

 elected, all being reelected except J. D. Anderson, who is a new- 

 addition to the board of directors: H. T. Dunn, president; H. 

 G. Fisk. treasurer and clerk; E. H. Broadwell, G. \. Ludington, 

 vice-presidents; R. B. McGaw, assistant treasurer; E. M. Bo- 

 gardus, coni|)troller. Directors: H. T. l)unn. Toledo, Ohio; E. 

 IT lirnadwell, Longmeadow, Massachusetts; Stedman Buttrick, 

 Boston. Massachusetts; J. D. Anderson, H. G. Fisk, G. A. 

 Ludington, Fred T. Lev — all of Springfield, Massachusetts. 



Following is the company's profit and loss report and statement 

 of assets and lialnlities for the fiscal year ending December 31, 

 1916. The total sales for the fiscal year were given as 

 $19,457,788.77. 



.\SSETS. 

 Capit.\l Assets- 



T.an.d, buiUlinss, furniture and 

 fixtures. Chicopee Falls, at 



deorecintecl value $4,779,447.70 



Factory ennip'i'er-t, branch fur- 

 niture and fixtures at depre- 

 ciated valnes 1,089,967.49 



Leasehold property 6,892.59 



Total capital assets $5,876,307.78 



Good will S.OOO.OOO.OO $13,876,307.78 



Investments — 



Fremier Really' Co $112,040.04 



Company's first preferred stock . 

 held for retirement Tanu- 

 .-.ry, 1917 1 292,302.22 404,342.26 



CuKRENT Assets: 



Inventories, raw materials and 

 supplies, work in process and 

 finished jiroduct $7,476,203.58 



Tires in n^c under mileage con- 

 tracts 38,201.87 



Notes and accounts receivable, • 



less reserve for doubtful debts 

 and cash disconnts 3,893.695.64 



Collateral notes from employes 

 for subscrintions to capital 

 stock 99,835.36 



Notes receivable for special de- 

 posits . 1,380,600.00 



Cash in banks, on hand an<l in 



transit 367,088.20 13.255,624.65 



Deferred charges — 



Prci)aid rents, royalties, taxes, 



interest and insurance 170,023.10 



Stationery and office supplies.. 88,618.25 



Other prepaid expenses 21.837.48 266,478.83 



$27,796,753.52 



LIAF.ILITIES. 

 Capit.m. Stock Outstanding: 



First preferred non-convertible 34,400,000.00 



First preferred convertible 5,000,000.00 



Second preferred convertible 4,500,000.00 



Common 8.000,000.00 $21,900,000.00 



Current I.iabit.ities: 



Foans payable 2,150,000.00 



Accounts payable 682,293.58' 



Accrued income tax and wages 37,764.2.3 



Dividends due, not paid 4,485.25 2,874,543.06 



Reserve Accoi-nts 171,768.09 



Surplus ajjpropriated for retirement first preferred stock.... 975,000.00 



Surplus per attached statement 1,875,442.37 



$27,796,753.52 



PROFIT AND LOSS AND SURPLUS. 



Surplus, balance December 31, 1915 $1,246,394.28 



Add: 



Net profits for the year ending December 

 31, 1916. after deducting manufacturing 

 costs, dejireciation and interest on bor- 

 rowed money $1,836,829.86 



Less unusual expenses absorbed 95,125.08 1,741,704.78 



$2,988,099.06 

 Deduct — 



Dividends paid, on first pre- 

 ferred stock $308,000.00 



On second preferred 140.000.00 $448,000.00 



Surplus appropriated for re. 



tirement of first preferred 



stock $375,000.00 



Premium paid on 3,750 shares 



first preferred stock retired. 7,940.58 



Fees and expenses in connec- 

 tion with increase of capital 



stock 16.,S66.11 



Commissions pai^l on sale of 



50,000 shares first preferred 



convertible stock and 5.000 



shares cf second preferred 



stock 273,000.00 $1,112,806.69 



Less miscellaneous slock profits lO.ISO.OO $1,112,656.69 



, Surplus. Iialance Dccemher 31, 1916 $1,875,442,37 



J. & D. TIRE & RUBBER CO. 



-\t the annual meeting of the J. & D. Tire & Rubber Co., 

 Charlotte, North Carolina, held March 1, the following officers 

 were reelected : H. O. Smith, president ; Thos. J. Northway, 

 vice-president ; C. C. Coddington, treasurer, and Lee A. Folger, 

 secretary. These, together with H. S. Leyman, W. G. Welbon, 

 John L. Dabbs, and E. Thomason, constitute the board of direc- 

 tors. 



The company's new plant just completed consists of three 

 buildings of concrete and glass construction, two main buildings, 

 with the mill room in a one-story structure in the center. The 

 arrangeinent is such that additional buildings and equipment may 

 be developed up to a capacity of 2,000 tires per day without any 

 rearrangement of the present plant. Tlie machinery is electrically 

 driven, the vast hydro-electric power sources of that section 

 making electric power inexpensive. Boilers of 250-horse-power 

 are used for heating and vulcanizing. The machinery is new 

 and modern in every particular, and the company e.xpects to 

 develop a very large business under the management of the 

 officers and superintendent, several of whom have had long 

 practical experience in the tire business. 



