414 



THE INDIA RUBBER WORLD 



Apri!. 1. 1917. 



now this company has become one of the largest manufacturers 

 of all types and kinds of pneumatic and solid rubber tires, tire 

 accessories and rims. From a plant covering less than an acre, 

 the Firestone factories have grown until the floor space is more 

 than 40 acres, with promise of continued expansion during the 

 present year. The consolidated balance sheet of the last fiscal 



vear. dated October 31, 1916, follows: 

 I 

 .•\SSETS. 



L.nndr. buildings, machinery and eqiiipnicnl • ..$10,687,963.35 



.Sound value as appraised by .Vmciicaii .\iipraisal Co. 

 as of Scptc.Mnl)cr 30. 1916, plus expenditures in October, 

 1916, for additions lo properly. 



Investments in securities • ^'iin^nif: 



Finished .ind inproccfs goods, materials and supplies 9./ J.5.94y.8U 



Inventoried at co-t. . , , , , ... __, „ 



Suli«cribers to preferred, 6 per cent., cumulative capital .slock 3.UUK.//5.Zj! 

 ($4,000,000.00 realized in cash on November 6, 1916, and 

 the remainder subsequenMv realized.) 



fash .?2;.490.30 



Notes ami accounts receivable— trade debtors 6,829,632.13 



Due from .mployes ,•■••; j 1,10/,OK3.11 



.Account of capital stock purchases and sundry advances. ,(,n?5ii; 



expenditures applicable to future operations 3MJ3-.15 



$34,360,848.56 

 I.I.ABIUTIKS. 

 Preferred. 6 per cent., cumulative capital stock subscriptions.. ^5.000.000.00 



Common Ta'piVal stock : ^?S?'gS?-22 



Notes payable 5.245,843./6 



r.oirowed money. it-, ^ni; ^Q 



Accounts payable to trade creditors ,, lii'oci oJ 



Accounts payable, miscellaneous jbd,b31.5(d 



Sundry creditors, accrued salaries, wa.t!es, ta.xes, interest, 



Welfare^and pension reserve ^•?-n'2^7g8 



wiSs". "'*"*.:::::: :::;:::::::;:;^:: ::::;•••••• ■••■•• i8,306;42M8 



S34.360.S48.56 



The stock distribution plan of the Firestone Tire & Rub- 

 ber Co., previously mentioned, has received remarkable sup- 

 port, 90 per cent of the total force, or over 11,000 Firestone 

 employes, taking advantage of the company's offer to make 

 them shareholders. Rarely, if ever, have employes had the 

 same occasion for feeling their responsibility in so large a 

 business because of their own personal interest and the future 

 interest of their families. They have acquired stock which at 

 time of purchase is quoted at nearly half again what they 

 will pay for it. They have this stock in a company capitalized 

 at $15,000,000, the certified assets of which run over $34,000,- 

 000, the surplus already listed being $18,000,000. All, of which 

 means that they will profit not only through their work in the 

 future and the company's further growth, but that they profit 

 through their good work in the past. 



While the step taken by this important company is of no 

 small significance to the business world in general, it is only 

 the latest achievement in a long program of cooperative 

 measures which form a part of the broad-minded and far- 

 sighted plans of the president, H. S. Firestone, including the 

 $350,000 Firestone Club House opened last year; also "Fire- 

 stone" Park, with its beautifully situated home building plat ; 

 the establishment of the Rubber City Savings Bank near the 

 Firestone factories, and the setting aside of a $1,000,000 fund 

 for lienefits to employes, such as insurance, pensions and the 



like. 



* * * 



Hast .Akron, the home of the American Hard Rubber Co.'s 

 factory and that of the Mohawk Rubber Co., the General Tire 

 &• Rubber Co. and the Goodyear Tire & Rubber Co. is several 

 miles from the banking center of the city. In order to en- 

 courage habits of saving among the factory employes and as 

 a convenience to the manufacturers in this section. The Ohio 

 Savings & Trust Co. has been formed, with officers as follows: 

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

 Rubber Co. ; vice-president, C. \V. McLaughlin, vice-president 

 of the Mohawk Rubber Co. ; treasurer, W. E. Palmer, assistant 

 treasurer of the Goodyear company ; secretary, C. F. .\yers. 



* * * 



In order to secure cash to take care of increased business. 



the Goodyear Tire & Rubber Co. will issue a total of $9,370,- 

 000 in stock, of which $6,000,000 will be preferred and $3,370,- 

 000 common. The preferred stock has been disposed of to 

 bankers, and the common will be offered to stockholders in 

 the ratio of 20 i)er cent of their holdings. The company is 

 capitalized at $50,000,000, half preferred and half common, of 

 which only $17,500,000 of each has been issued. Tlie new 

 financing will bring the total issues to $23,500,000 preferred and 



$20,870,000 common. 



* * * 



.At the last annual- meeting of the stockholders of the Miller 

 Rubber Co., Akron, Ohio, the officers of the company were 

 authorized to turn over to the United States Government the 

 benefit of its organization and equipment in any needed capacity, 

 and hearty cooperation and support were pledged in any emer- 

 gency that may arise. , 



* * * 



The Amazon Rubber Co. is offering to the public, at par, 

 $100 per share, a new issue of stock consisting of $400,000 of 

 common and $100,000 of 7 per cent preferred. This company is 

 rapidly securing national distribution for its product — a standard 

 tire with extra breaker strips on the sides and an extra heavy 

 brow-n tube. 



F. C. Burt, an Akron tire man, has recently joined the sales 

 force of the .Amazon company. 



* * * 



D. A. Murray' is now connected with the sales department of 

 The American Rubber & Tire Co. as district agent, with super- 

 vision of sales in the Central district. 



Fred Kemple, formerly manager of the pneumatic tire depart- 

 ment of the above company, has been promoted to the position 

 of factory superintendent. < 



* * * 



Harry E. Boyd, assistant superintendent of The Adamson 

 Machine Co., died on March 12 of pneumonia, after a few days' 

 illness. Mr. Boyd had been connected with the .Adamson com- 

 pany for five years and was considered one of its most capable 

 and promismg men. His loss is deeply regretted by the firm 

 as well as by his personal friends. 



THE RUBBER TRADE IN BOSTON. 



By Our Rcg.ular Corrcsjyondcnt. 



THE automobile show in Boston, last month, was in many 

 respects the best attended and most productive of busi- 

 ness of any ever held here. Not only were more automobiles 

 sold, but these sales individually averaged higher prices than 

 those of former years. This, in itself, is an indication of the 

 general prosperity of New England and its leading city. 



Not only in pleasure cars but in those intended solely for 

 transporting goods, the demand was unprecedented. To-day 

 there are a hupdred business houses interested in motor trucks 

 where there was one five years ago. Much of the suburban 

 haulage of heavy as well as light merchandise is by these 

 vehicles, while there is a steadily increasing amount of stock 

 and manufactured goods being transported over the road, which 

 formerly was carried by freight over the railroads. Every year 

 this motor-truck business- is extending further and further in 

 point of distance, and naturally has had its effect in bringing 

 business to the motor-truck exhibitors at this auto show. 



Over 500 cars and trucks were shown, together with 170 

 accessory exhibits. The Mechanics Building did not provide 

 enough space, although the basement. Grand Hall, and its gallery, 

 the Exhibition Hall (two floors) and Paul Revere Hall were 

 brou.ght into requisition, and so Horticultural Hall, four blocks 

 west, and the ballroom of the Copley-Plaza Hotel, two blocks 

 north, were used for the overflow. The rubber trade was only 

 meagerly represented, and, as in previous years, there were but 



