436 



THE INDIA RUBBER WORLD 



[May 1, 1919. 



I would mention that there has been considerable damage by 

 water to one of our smaller estates called the "Langkat." 



On May 23, 1918, the permanent organization of the United 

 States Rubber Plantations, Inc., referred to in the last annual 

 report, was effected, and took over the management of our Su- 

 matra plantations. 



CONCLUSION. 



The volume of business of our company so far this year has 

 been somewhat in excess of the same period of last year, and 

 though we look for a falling ofif in certain lines, especially those 

 where war orders were large, now that we are on a peace basis, 

 the present indications are that our volume for 1919 will be 

 satisfactory. 



It gives mc pleasure to refer to the continued fidelity and 

 ability show-n by the officers, heads of departments, our Far 

 Eastern and foreign staffs, and other employes of the company 

 and its subsidiaries. 



Respectfully submitted. 



Samuel P. Colt, Chairman. 



THE COMPTROLLER'S REPORT. 



UNITED STATES RUBBER CO. AND SUBSIDIARY COMPANIES. 



Consolidated General Balance Sheet, December 31, 1918. 



ASSETS. 



Cash $12,330,286.76 



Accounts receivable 35,566,176.91 



Notes and loans receivable 1,627,472.60 



Manufactured goods and material 70,704,225.80 



Total current assets $120,228,162.07 



Securities, including stock of United States Rubber Com- 

 pany held by subsidiary companies $6,494,432.81 



Property, plants and investments, including rubber planta- 



134,886,551.29 



1,282,303.75 



Prepaid and deferred 

 Total assets 



LIABILITIES. RESERVES AND CAPITAL. 



Accounts payable and accrued liabilities $14,852,944.53 



Acceptances payable for importation of crude 



rubber 942,362.63 



Notes and loans payable 9.465,350.00 



Total current liabilities 



United States Rubber Co. first 



and refunding mortgage 5 



per cent gold bonds, due 



1 947 $69,000,000.00 



Less treasury bonds deposited 



as security for United States 



Rubber Co. 5-year 7 per 



cent secured gold notes, due 



December 1, 1923 9,000,000.00 60.000,000.00 



$262,891,449.92 



Canadian Consolidated Rubber Co. Limited 



6 per cent gold bonds, due 1946 2.600,000.00 



United States Rubber Co. 5-year 7 per cent 



gold notes, due December I, 1923 6,000,000.00 



Underlying bonds 385,000.00 



Cash deposited to provide for 



3PS.000.OO 



Total liabilities 



General reserves 



Insurance fund reserve. . . 

 Employes' accident fund 



,565,618.85 



598,938.72 2,164,557.57 



Reserve for depreciation of property and 



plants 11, 680, 388.57 



Reserve for January dividend on preferred 



stocks 1.24O.498.00 



Capital stock, first preferred 61,722,200.00 



Capital stock, second preferred 403.600.00 



Capital stock, common _; 36,OCO,000.( 



$93,860,657.21 



22,063,665.99 



Total capital stock 98.409.800.00 



Fixed surpluses — subsidiary 



Surplus 



Total capital stock and surpluses $146,967,126.72 



Total liabilities, reserves, and capital 262,891,449.92 



Consolidated Income Statement. 



Total sales , • ■ • ■ 215,398,425,04 



Cost of manufacture, depreciation, selling and general ex- 

 penses and property taxes 169,594,286.00 



Operating profits $45,804,139.04 



Cash discounts allowed customers for prepay- 

 ment, net 5,443,460.64 



Deductions for bad debts 880.046.37 6,323.597.21 



ncome charges, net, including inventory adjustments and 

 provision for federad, Canadian, and British taxes 19.289,534.86 



Net income before interest $20,191,096.97 



riitlts 



Dividends— United States Rubber Co. 



First preferred stock, 8 per cent 



Second preferred stock, 6 per cent 



Dividends to minority stockholders of sub- 

 sidiary companies 



Surplus December 31, 1918 $41,848,051. Sft 



Respectfully submitted, 



W. G. Parsons, Comptroller. 

 DIRECTORS. 



.\t the recent annual meeting of the company the following 

 officers were elected : 



James S. Alexander, New York City. 



Walter S. Ballon, Providence, Rhode Island. 



James C. Brady, New York City. 



Nicholas F. Brady, New York City. 



Middleton S. Burrill, New York City. 



Samuel P. Colt, Providence, Rhode Island. 



Harry E. Converse, Boston, Massachusetts. 



Sir Mortimer B. Davis, Montreal, Quebec. 



James Deshler, New Brunswick, Nevi- Jersey. 



James B. Ford, New York City. 



James Newton Gunn, New York City. 



Francis L. Hine, New York City. 



Ernest Hopkinson, New York City. 



Henry L. Hotchkiss, New Haven, Connecticut. 



William S. Kies, New York City. 



Lester Leland, Boston, Massachusetts. 



Nathaniel Myers, New York City. 



Samuel M. Nicholson, Providence, Rhode Island. 



Raymond B. Price, New York City. 



Homer E. Sawyer, New Y'ork City. 



Charles B. Seger, New York City. 



William H. Truesdale, Greenwich, Connecticut. 



Theodore N. Vail, Boston, Massachusetts. 



Elisha S. Williams, New York City. 



EXECUTIVE COMMITTEE AND OFFICERS. 

 Executive Committee. 



Samuel P. Colt. Lester Leland, Charles B. Seger, James B. 

 Ford, Walter S. Ballon, Nicholas F. Brady. 

 Officers. 



Except for the elevation of Messrs. Colt and Leland to the 

 offices of chairman and vice-chairman, respectively, and the 

 creation of a tire division under the direction of J. Newton Gunn, 

 last year's officers were reelected as follows : Samuel P. Colt, 

 chairman ; Lester Leland, vice-chairman ; Charles B. Seger, 

 president ; James B. Ford, vice-president ; Homer E. Sawyer, 

 vice-president in charge of footwear division; Elisha S. Will- 

 iams, vice-president in charge of mechanical goods division ; J. 

 Newton Gunn, president of United States Tire Co., in charge of 

 tire division; Ernest Hopkinson, vice-president; Samuel Norris, 

 secretary; W. G. Parsons, vice-president and comptroller; H. B. 

 Hubbard and William O. Cutter, assistant comptrollers; W. H. 

 Blackw-eli, treasurer ; John D. Carberry, assistant secretary and 

 assistant treasurer. 



Operating Council. 



Charles B. Soger, chairman ; Homer E. Sawyer, Elisha S. 

 Williams, J. Newton Gunn, Ernest Hopkinson, Theodore Whit- 

 telsey, and W. G. Parsons. 



$39,480,631.83 



The Fort Wayne Tire and Rubber Manufacturing Co., Fort 

 Wayne, Indiana, lias increased its capital from $500,000 to- 

 $1,000,000. 



