The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-02-15
INVESTYH ENT NOTES.
Gossip Concerning the United states Rub.
Der Company,


Der Company.
The decline in United States Rubber
stock has at no time been accompanied
by anything like liquidation. No large
blocks have come upon the market, and
at the decline the buying orders are
quite numerous.
Among the various gossipy articles
on the subject, the following from Sat
urday's Boston Advertiser is perhaps
the most interesting:
THE report that Mr.. Banigan con-
templated starting the stock market by
throwing some 5000 shares of United
States Rubber company's stock at it
yesterday morning must have been
premature, as its announcement on
Thursday night destroyed it's value as
coup. since the traders will have a
whole day in which to prepare them
selves for the stock. 1t is within the
bounds of possibility that Mr. Banigan
merely has it in mind to frighten the
holders of this stock, and precipitate a
selling movement on which somebody
may profit to a considerable extent.
The bears haven't had such a conven-
lent basis for depression in values
for many a long day as this Lexow
trust investigation is furnishing them,
and from all appearances they are
making the best of their opportunities.
ut has been a meter of rumor that
the Rubber people would be summoned
before the tribunal at New York, and
this seems especially hard in view of
the poor business the corporation has
been doing of late. An official of the
company is quoted as saying: The
United States Rubber company has
been unfortunate as far as times have
been concerned. Soon after it was or
ganized the 1898 panic struck us and
ever since business has been poor, and
then in addition we have had poor win
tiers for our business.
"'This sensational talk in a New
York paper of our having advanced
prices 100 per cent since our organiza-
ton, arbitrarily closing down factories,
throwing men out of employment and
by reducing the price of third-class
goods temporarily forcing the closing
of the Liberty Rubber company at Sc
| tauket, Long Island, is far from the
truth.
1.-The facts in the case are that the
average increase in the price of rubber
shoes since the organization of the
Rubber company has been IS per cent,
and as an offset crude rubber has ad-
vanced about Is cents a pound on ac-
count of the increased demand for BIZ
cycle tires.
"'Three factories are mentioned at
New Brunswick as having been closed
| one at Colchester, one at Franklin and
one at Setauket Only one factory at
New Brunswick was closed, and that
has been started up again on the man.
ufacture of bicycle tires. The Colches-
ter and Franklin mills were closed as
| they could not be operated profitably,
and we did not close the Setauket mill,
as We have nothing to do with it.
I'VE have not reduced the price of
| third-class goods. but we have intro
duced what we call sfourths, cheap
line of goods for which there is a de-
| manu- Iioiil kocI peOIJIG. IutSe SObuS
are not even branded They are I'M
named orphans. These goods have been
used to compete with the Liberty COM
pany goods. and we have been success
full, as their product has been fifth or
| siXth-class goods"
Yesterdays Boston Herald remarks:
| THAT story that Mr. Banigan would
| throw 800 shares Rubber preferred
stock upon the market ought not to
have deceived anybody Mr. Banigan
is accused of being peculiar, but not of
being unbalanced.'