New-York tribune., 1901-07-26
CHANGES IN RUBBER cos.
c. r. FLINT RESIGNS HIS OFFICE IN THE
UNITED STATES CONCERN TO IDEN-
TIFY HIMSELF WITH MANU-
FEATURING CORPORATION.

James B. Ford first vice-president and Charles
r. Flint treasurer, of the United States Ruooer
Company have resigned. Mr. Flint VINO is chaiF-
man of the executive committee and the largest
shareholder of the Rubber Goods Manufacturing
Company will now take active part in the
management of the latter concern He VIII con-
tinue a director of the United states ffupoer
Company There is no conflict OF interest between
the two corporations. The Rubber Goods Manu-
featuring Company makes no rubber boots OF rup-
Der Shoes the principal product of the United States
Rubber Company. The latter company is snare
holder in the Rubber Goods Manufacturing COM
pany.
Costello c. Converse of Boston. has been elected
first vice-presdent of the United States Rubber
Company and James B. Ford will succeed MI
Flint as treasurer. Mr.. Converse was Wce-preSi-
dent and one of the largest stockholders OF lhe
Boston Rubber Company, of which Lester Leland
the second vce-president of the United states huo
ber Company is general manager. Ihe Boston
Rubber Company. under the Converse-Lelano man
agement. has been successful. Mr. Ford mas oeeh
a director of the United States Rubber Company
since its Incorporation; his company. the Meyer
Rubber Company of Brunswick entering the
United States Rubber Company upon its organiza-
ton in 1892 He is present the largest individual
stockholder OF the United States Rubber Company.
Mr. Flint said yesterday at his office in the Broad
Exchange Building:
terest in the United States Rubber Company. In
view of my large interest in the Rubber Go3as 9
mands on nv time. l have thought 1t better 10
make way for some who had a large stock IN
terest and who, from the point of view or poHcy
and time, could give closer attention TO the AFFAIRS
of the United States company.
When asked if a plan were under way to effect
consolidation of all the crude rubber and rubber
manufacturing concerns of the country, Mr.. Flint
limited that such was the He said:
Twenty years experience in industrial consolda-
ton has convinced that neutral party is
cessary a successful consolidation In the CON
the American Chicle Company the American Cara
mel Company, the United States Bobbin and Shut
tie Company, the National Starch Company and
others, l had connection with either OF the
ton consider that the United States Steel Cor
poration typif1es the of scientific business,
and I have doubt that what has taken place in
the steel industry will eventually come 10 pass in
the rubber industry.
The earnings of the Rubber Goods Manufacturing
Company for the six months ending June so. 1901
were 81 209 563 &c. at the rate of per cent per
annum the preferred stock. and more than II
per cent the common stock. After deducting the
quarterly dividends the preferred stock of
1& per cent, of March and June. and the two
quarterly dividends the common stock of per
cent. of April Is and July 16 together with the
of s120.000 paid TO the American Bicycle Com
pany, in consideration OF the cancellation Of
antees given to that company, there remained a
surplus OF S4H $50 99 which is at the rate OF more
than per cent per annum the common stock.
It was ruInored that the October dividend on the
common stock would be increased at the rate OF at
least per cent per annum. but Mr.. Flint refuted
the story. He said that the directors deemed 1t
plus rather than increase the dividends on the
common stock.