Junk 1, 1915.1 



THE INDIA RUBBER WORLD 



475 



T.~ 



%€'l& 



Res. 0. S. Pat. Off. 



Published on the 1st of each Month by 



THE INDIA RUBBER PUBLISHING GO. 



No. 25 West 45th Street, New York. 

 CABLE ADDESS: 1RWORLD. NEW YORK. 



HENRY C. PEARSON, Editor 



Vol. 52. 



JUNE I, 1915. 



No. 3 



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COPYRIGHT, 1915, BY THE INDIA RUBBER PUBLISHING CO. 

 Entered at the New Y r ork postoffice as mail matter of the second class. 



TABLE OF CONTENTS ON LAST PAGE OF READING. 



HAVE WE TURNED THE CORNER? 



' I 'I I E important question is not — Where are you? but — 

 A In what direction are you going? The last half of 

 1914 was undoubtedly a period of very general depression 

 in American business circles but there are now unmis- 

 takable signs that, notwithstanding the uncertainty of the 

 European situation, general business conditions in this 

 country are steadily and noticeably improving. 



( )n the 20th of May the members of the New York 

 State Savings Bank Association convened for their annual 

 meeting in New York City. There were 250 members 

 present, representing almost every savings bank in that 

 state. The most noticeable feature of that convention was 

 optimism. The bankers reported that deposits had not 

 only not fallen off but had been constantly increasing 

 during the last few months, having now reached the vast 

 total of $2,000,000,000 for the state. And recently one 

 of the publications devoted to financial matters gathered 

 reports from 90 different cities representing every section 

 of the country, and these reports quite uniformly stated 



that while local business conditions were not as good as 

 a year ago they had been growing steadily better since 

 the first of the year. 



The condition of the United States Steel Co. is 

 ■■' in ; ill} assumed to afford a very accurate standard b\ 



hii h to measure the situation among railroad- and large 

 industrial corporations, and the earnings of the steel com 

 pan} have grown rapidly since the beginning of the year, 

 being in hebruan 125 per cent, larger than in January 

 and showing in March an increase of 1-50 per cent, over 

 the January earnings. \ large locomotive manufacturing 

 compan) located in Pittsburgh which has been idle for the 

 last two years has announced its intention of resuming 

 operations on a scale requiring l.'Ulii Aorkmen. And ol 

 equal importance with the improving conditions among 

 the railroads and large industrial corporations are the 

 extremely favorable crop reports given out by the govern- 

 ment, showing prospects surpassing any yields in the 

 past — which means great activit) through the whole West. 

 The South is rapidly recovering from its prolonged chill 

 of the early fall when the price of cotton dropped so low 



Never before has there been such a balance of trade 

 piling up in favor of the United States. Merchandise 

 exports are going out from this countr) at the rate of ten 

 million dollars a day or three and a half billions a year, 

 with an estimated balance over imports for the present 

 year of a billion dollars. Plenty of other indications 

 might be mentioned, if these do not suffice, of increasing 

 vitality in the national commercial life. And what is true 

 of business at large is equally true of the rubber trade. 

 ( lur correspondents from various rubber centers speak 

 of the exceptional activity in manufacturing circles: and 

 the prices quoted on the market for shares of the listed 

 rubber stocks show that the public takes an optimistic 

 view of the earning capacity of the large rubber manufac- 

 turing corporations. There certainly are evidences 

 enough that the corner has been turned. 



NO ONE CAN PLEAD IGNORANCE. 



I F there is any one connected with the rubber trade — 

 •*• even with one of its remote accessory ramifications — 

 who is still ignorant of the terms of the guarantee given 

 by American rubber manufacturers to the P>ritish govern- 

 ment in order to secure crude rubber from London he 

 must he someone who either can't read or won't read, for 

 the Rubber Club has taken every possible means to 

 familiarize the entire trade with the character of this guar- 

 antee. Its terms, which were quoted in full in the Feb- 

 ruary issue of this publication, were laid before all the 

 rubber manufacturers of the United States in January, 

 soon after the Rubber Club, through the Control Com- 

 mittee, had made arrangements with the British govern- 



