418 



THE INDIA RUBBER WORLD 



[April 1, 1917. 



the r'.ihbcr trade. I may mention ' that H. L. Rothband, of 

 Mandleberg & Co., Manchester, has issued a book explaining 

 liis scheme for promoting the employment of disabled soldiers 

 and sailors, .^n objection to what is at present being done 

 by the labor exchanges is that the latter ask the manufac- 

 turers what wages they are prepared to pay a man before 

 they have had an opportunity, by interview, of forming an 

 estimate of the man's probable worth. 



TR.M)E NOTES. 



The establishment of the Pirelli General Cable Works, 

 Limited, at Southampton, has been in operation two years. 

 It is probably the most modern in equipment of all such 

 works. Situated on a private pier, with a great electrical 

 crane and with monorail system, its materials and its finished 

 product can be quickly received, moved to any portion of 

 the plant or shipped with facility. Only a third of the avail- 

 able area is covered with two-story buildings. All the ma- 

 chinery is propelled by electricity, secured from the city 

 mains. .A boiler house supplies steam for rubber working, 

 cable heating and drying, and the lead furnaces are heated 

 by gas produced on the grounds. Both rubber and paper 

 insulated wire are manufactured, as well as tape and insulating 

 material. 



This corporation is a joint enterprise of two world-known 

 concerns, the General Electric Co., Limited, one of the largest 

 firms of electrical manufacturers in Great Britain, and Pirelli 

 & Co., of Milan and Spezia, Italy, tlie largest producers of 

 rubber goods and cables in Italy. Its work is largely on 

 government orders. 



The Parent Tyre Co. has virtually, all its capital of over 

 £2,000,000 invested in the Dunlop Rubber Co., and it has an 

 agreement for a royalty of 6 per cent on the Dunlop net profits. 

 This year the royalty amounts to i24,000, compared with 

 £23,410 a year ago. The maximum dividends of 5 per cent 

 and 8 per cent have been paid on the preferred and common 

 shares, the deferred shares getting 7 per cent. 



In a recent High Court trial, judgment was given for the 

 Alpcrton Rubber Co. in an action to prevent Mr. Manning, 

 its late manager, from utilizing his formula book for the 

 benefit of the Beldan Tyre Co., by whom he is now employed. 

 There were special circumstances in this case, and I am not 

 criticizing the judgment. The defendant's counsel, howevei, 

 asked leave to appeal, saying that the decision affected works 

 managers generally, as they had always considered that they 

 had a right to utilize formulas acquired by them in the course 

 of their employment. The leave to appeal was not granted, 

 though there are many in the trade who would like to have 

 heard tlie decision of the Appeal Court. 



THE SITUATION IN RUSSIA. 



531 a Special Correspondent. 



THE remarkable overthrow of the monarchy and probable 

 estal)Iishment of a republic has opened Russian doors to 

 America and promises to become a milestone in Russian-Ameri- 

 can trade relations. With one-si.xth of the land area of the globe 

 and a population of nearly 200,000,000, our country has long pre- 

 sented one of America's largest possible foreign markets, and 

 one that has been growing rapidly with a rising civilization and 

 quickening development. .Although the circle of the Imperial 

 family had other preferences, the Russian people, if they can 

 maintain the new government, as now seems likely, will wel- 

 come American goods for immediate needs, and after the war, 

 private capital for the development of vast natural resources. 



There is every indication that no contracts or debts will be 

 abrogated as a result of the revolution, as the government's 

 finances are in excellent condition, and the policy of the people 

 contemplates a more energetic prosecution of the war. 



BANKING FACILITIES. 



The lianking machinery of Russia consists of The Imperial 

 Hank, the Land Banks and the Government Savings Banks, all 

 operated by the banking department of the government ; the 

 commercial or joint stock banks, which are private institutions; 

 municipal banks, and mutual credit societies. The Imperial 

 Bank is the largest bank in the world, its statement for October, 

 1916, sliowing total assets $5,150,000,000 at the par value of the 

 ruble*, and the total gold resources of $1,854,000,000. It is the bank 

 of issue for the entire empire, and although it may do a com- 

 mercial banking business, its principal activities are with other 

 banks, for which it receives deposits, makes loans and redis- 

 counts bills. The Land Banks are of two classes, known as the 

 Land Bank of the Nobility and the Land Bank of the Peasants, 

 the latter having been created to facilitate the distribution of 

 land to the peasant classes. The government operates a State 

 Savings Bank with over 10,000 branches scattered through the 

 Empire, which are the depositories of the savings of the peo- 

 ple. On October 1, 1914, their total deposits amounted to about 

 $875,500,000 at the par value of the ruble, but these savings have 

 increased greatly during the war. On August 14, 1916, they ap- 

 proximated $1,64S,000,000. While this is attributable in some 

 measure to .the abnormal prosperity incidental to the war, it is 

 more directly attributable to the abolition of vodka, which has 

 encouraged expenditures chiefly for better living facilities, cloth- 

 mg and food, and greatly increased average savings. The total 

 increase in approximately two years, at the par value of the 

 ruble, amounts to $772,500,000, and at the , present exchange 

 value, about $450,000,000. 



Joint-stock banks, established in Russia in 1864, numbered 45 

 with 732 branches in 1913, with a total capital and surplus of 

 $381,615,000 and with deposits aggregating $1,184,500,000 at the 

 par value of the ruble. Not only do these banks exercise the 

 usual functions uf commercial banking, but they participate in 

 the industrial activities o' the country, financing, and in some 

 cases owning outright, va.i ns industrial and commercial enter- 

 prises. .'\lthoiigh not organized under a general banking law, 

 "^arh has 1 special government charter and operates under the 

 - nervisio' "1 the banking department of the government. This 

 t ■.•ne:".,i'jus banking capital .seems to be fully employed. For 

 •laiiy years rates have averaged high, as is natural in a partially 

 aeveloped country. Bank failures involving a loss by depositors 

 are practically unknown. The business is operated according to 

 banking principles obtaining throughout the world. The com- 

 mercial laws of the country are well established and adequately 

 interpreted by the courts, so that apparently the banking opera- 

 tions of the country are as stable as those of any other nation. 



MOVING THE '•PEOVVODNIK" CO. TO MOSCOW. 



The removal of the entire industry of the "Prowodnik" Co., 

 the pioneer rubber manufacturing concern in Russia, from 

 Riga to Moscow is worthy of more than a passing notice. Here 

 was a practically unpredecented task. An industry with a capital 

 of 50,000.000 rubles,* possessing a plant covering 3,000,000 square 

 meters, machinery requiring 20.000 horse-power engines, and 

 employing 18,000 persons being transferred bodily some 600 or 

 700 miles, rebuilt and reestablished in the short space of a few 

 months, is a feat well worth recording. 



This great industry was situated at Riga, on the gulf of the 

 same name, an arm of the Baltic Sea. It was manufacturing 

 many lines of rubber goods for trade and for the Russian Gov- 

 ernment. As a measure of precaution the factory was closed, 

 but its importance to the government was such that the removal 

 was advised from the coast to the heart of the nation. 



It was a stupendous task, but with an energy worthy of the 

 cause, it was accomplished by the aid of a force of engineers and 

 workmen. Over 5,000 carloads of machinery and material were 



•Ruble equals $0,515. 



