Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1901-11-04
Discussed by India
Rubber World.
A Program Has Been
Mapped Out
But Subscriptions Come
In Slowly.

The Deal Not Likely to Go
Through.
IAN attempt is being made to bring
about further consolidation Of the
mechanical rubber goods industry, says
the India Rubber World '"Tho pro-
moters are understood to have in view
particularly the leading rubber factor
les in Akron, Ohio, none of which, ex-
cept the India Rubber Co., has yet
entered any combination, and also the
principal manufacturers Of rubber tires
elsewhere who still remain independ-
ent. Part Of the program Is to start
with the Rubber Goods Manufacturing
Co. as the basis Of a new corporation.
One report is to the effect that the un-
derwriting syndicate formed in New
York to finance the consolidation have
failed as yet to secure subscriptions
for the greater amount of the money
needed. This is regarded as a dis
couraging fact, and another is the high
standard of valuation of the different
properties fixed by the present own
ers"
~ Il
'It may be noted that denials of over
lures having been made toward a con-
solldation apply to companles-and not
necessarily individuals. In which con-
nection it may be Of interest to quote
from the Akron Daily Democrat the
report that b. G. Work, superintend-
ent of the b. f. Goodrich Co., has been
slated for the general management of
the consolidated interests. He may
be to the rubber business what
Schwab is in the United States Steel
Corporation" :"
Editorially, the India Rubber World
says: 1.-THE newspapers have harvest
ed the periodical crop of rumors, which
may have no more foundation in fact
than usual, regarding the prospect for
another combination in the rubber in
dustry. Though considerable space
has been devoted of late to- such ru-
mors, they are mostly too vague TO
Justify repetition in our news columns,
and we are content to leave them for
consumption outside the rubber trade.
One Of these reports, by the way, is
disposed of in newspaper published
in an important rubber manufactur-
ing center, under the head line, "A Hot
Air Story Whatever that phrase may
mean, it Is evident that the journal in
question has been inspired by the local
members Of the trade with a large de-
gree of skepticism in the matter of a
more comprehensive rubber trust,
than has yet taken shape.
"It would be safe assumption that
any rubber factory In the country
could be bought, provided the price
were made sufficiently attractive to the
present owners. But payment would
have to be made in cash, or at least in
paper more readily negotiable than the
general run of Industrial securities
nowadays. In brief, the rubber indus
try is in good condition today, and
the successful owner of a factory, if
called upon to sell, would probably ask
more for the business than he could
expect to make from it by continuing
In charge. 1t would not be enough to
take big price on paper, to be real
lied only in the event of the combina-
ton proving a success from the dlyi-
dend paying standpoint.
Industrial consolidation, as effect
ed nowadays, calls for the aid of bank
srs, who take blocks of shares as Sc
curity for the money of their custo-
mers or depositors. 1t happens at this
time that the prevailing quotations for
Industrial securities are SO low as to
discourage investments Of this class,
no matter what the particular industry
may happen to be. But so far as the
rubber trade is concerned, the whole
subject has been threshed over and
Dyer again, and it is not probable that
single manufacturer has become
more favorably inclined toward going
into combine as result of what
has been done in consolidating the
ga word fifty spoken
is like apples OF gold in icturo OF silver -
said SoIoruOn. What word can no al