M w 1, 1915.] 



THE INDIA RUBBER WORLD 



451 



REPORT OF THE CANADIAN CONSOLIDATED 

 RUBBER COMPANY, LIMITED. 



PRESIDENT D. LORNE McGIBBON, of the Canadian 

 Consolidated Rubber Co., Limited, submitted on April 6 

 his annual report covering the year ending December 31 last. 

 "The volume of business done in 1"14," the president states, 



"maintained that of 1913 when the reduction made in selling 

 prices is considered. The whole volume of sales was onl) 7.98 

 per cent, less than 1913. while reductions in prices were made 

 of a larger percentage on all rubber goods. This maintenance 

 of volume was obtained, notwithstanding what was probablj 

 the most discouraging year that Canada has experienced, due t" 

 the L^reat European war and also the disappointing conditions 



i ' of the Great Lakes. In spite of the unfavorable financial 

 conditions during the entire year we experienced very little dif- 

 ficulty in making satisfactory collections from retailers both in 

 tlie East and the West. Losses by had debts were only slightly 

 increased and ample provision therefor lias been made." 



lie goes on in his report to speak of the fact that the com- 

 pany now owns tile whole capital stock of each of its con- 

 Stituent companies, having during the year acquired all the out- 

 standing shares of the Canadian Rubber Co. of Montreal, Lim- 

 ited, lie states that tin company's tire plant has been in oper- 

 ation throughout the year, with very satisfactory results. He 

 anticipates a successful year for 1915, but says that "under ex- 

 isting conditions no heavy increase in sales should be looked 

 Eoi " 



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



COMBINED STATEMENT CONSOLIDATED AND CONSTITUENT 



COMPANIES— DECEMBER 31, 1914. 



Assets. 



Property and plants $5,452,122.92 



Inventories, manufactured goods and materials. $2,939,429.49 



Cash 57,363.21 



Accounts receivable 1.110.418.81 



Investments, including good will 4,404,904.76 



M ' llaneous 163.856.13 



8,675,972.40 



$14,128,095.32 



Liabilities. 



Preferred capital stock 



Common capital stock 2.805,500.00 



Six per cent, bonds due October 1, 1946 



Bills payable 



Accounts payable $374,279.39 



Mortgage on real estate 1,200.00 



4,785,500.00 

 2,600,000.00 

 3,914.634.23 



Reserve for bad debts, depreciation, etc. 

 Surplus 



575,479.39 



105.217.71 



2.347,263.99 



$14,128,095.32 

 Income. 



Net sales, footwear, tires, mechanical and miscellaneous $6,245,818.83 



Cost of goods sold, selling and general expenses and taxes... 5,282,833.95 



Operating profit 



'Other income 



$962,984. S8 



145,860.34 



Gross income $1,108,845.22 



Bond interest, cash discounts to customers, provision for bad 



debts and interest on borrowed money 629,663.45 



Net income 



Expenses previous period not provided for. 



Surplus for period 



Dividends declared and paid, preferred 7 1 i ' 

 Dividends declared and paid, common 3' '< { 



Net addition to surplus... 

 Surplus, January 1, 1914. 



$479,181.77 

 38,868.51 



$440,313.26 



222,688.50 



$217,624.76 

 2,129,639.23 



Surplus, December 31, 1914 $2,347,263.99 



'Includes a profit on the sale of land. $78,388.67 



OFFICERS AND DIRECTORS OF THE CANADIAN CONSOLIDATED 

 COMPANY. 



At the annual meeting of the shareholders held April 6, 

 D. Lome McG d Duncan Coulson retired from the di- 



rectorate. All tbe other directors were re-elected, and W. 11 

 Robinson, of Granby, Quebec, was added to the board. 

 The board as now con titutei Ci mpi ed of the following 



members: .1. II. McKechnie, T. II. Rieder, Walter Binmore, 

 R. E. Jamieson, Victoi E. Mitchell, E. W.Nesbitt, W. II Robin 

 -on. Col. S. P. Colt, Homer E. Sawyer, E. S Williams. R. B. 

 Price, \\ G Parsons, A. J. Kimmel. 



This leaves two vacancies on the board, no one having been 

 elected to succeed the late fleet wood 11. Ward. 



\t a meeting of tbe directors, following tin shareholders' 

 ir.'. the i' 'If iw ni'j i 'in. , i ■.,', i re appi inted J. E ■ 



president; T. II. Rieder. vice-president and general man 

 Walter Binmore, treasurer; W. \ Eden, seen 

 assistant secretary; A. Dwyer, assistant treasurer. 



THE 30TH BATTALION (CANADIAN) WEARS ARCTICS. 



The April number of "The Dominion," published monthly 



by the Canadian Consolidated Rubber Co., Limited, of Mont- 

 real, Quebec, contains an interesting illustrated paragraph sup- 

 plied by J. A. McKenzie, manager of the company's branch 

 at Victoria, British Columbia. The illustration shows a bat- 

 talion of some 1,200 men which recently left Canada for Eng- 

 land, marching through a street in Victoria; and the para- 

 graph states that each man was equipped with a pair of 

 buckle "Jacques Cartier" arctics, supplied by this branch. 



ANOTHER CANADIAN RUBBER MAN GOES TO THE FRONT. 



Lieutenant-Colonel A. S. Massie. manager of the St. John 

 Division of the Canadian Consolidated Rubbi i ' mited, has 



gone to the front, as tin commanding officer of tbe Divisional 

 Train, Army Service Corps, of the -'nd Canadian Contingent. 



AJAX TIRE MILEAGE CONTEST. 



The Ajax-Grieb Rubber Co. has announced tbe results of its 

 annual up-keep contest in pneumatics, which is open to em- 

 ployed chauffeurs only. The winner of the first prize covered 

 21,985 miles, and 30 of the cash prize winners a 6,509 



miles per tire, which is nearly equal to the record of tin i-i 

 prize winner of last year's contest, who covered 16,782 miles. 

 This is the second year of this contest, and it will be continued 

 for 1915-16 on the same lines. Blanks to be idled out bj chauf- 

 feurs desiring to enter the contest have been supplied to all 

 Ajax dealers. There will be 208 prizes, amounting to $5,000. 



THE MORGAN & MARSHALL COMPANY. 



At the annual meeting of The Morgan & Marshall Rubber & 

 Tire Co.. held at the office of the company in East Liverpool, 

 Ohio, on April 5, the following officers were elected : Patrick 

 McNicol, president; W. A. Hobbs. vice-president; Joseph Betz, 

 secretary and treasurer. These three officers, with R. J. Marshall, 

 D. M. Cronin, Con. Cronin. William Erlanger. W". H. Cochrane, 

 J. H. Cramer, A. F. L'lrich and R. M. Gilleland, were elected to 

 serve as directors for the ensuing year. 



This company has effected a new sales organization and will 

 have ready to put on the market by May 1 a new M. & M red 

 tread tire. 



TIRE DISTRIBUTORS ORGANIZE. 

 At a luncheon early in April plans were made for tbe for- 

 mation of an organization, later effected, at Columbus. Ohio, to 

 be known as the Columbus Para Club, membership in which is 

 confined to automobile or motor truck tire distributors. Rep- 

 resentatives of tbe Goodyear Tire & Rubber Co.. the Firestone 

 Tire & Rubber Co.. and the Kelly-Springfield Co., of Akron ; 

 the Racine Rubber Co., of Racine. Wisconsin; the Lee Tin .^ 

 Rubber Co.. of Conshohocken. Pennsylvania, and the L ; nited 

 States Rubber Co., of New York, were present at the luncheon 

 and became members of the club. 



