The daily morning journal and courier., 1902-04-14
U. S. RUBBER COMPANY.
An Important Letter Sent Ont by the
 Company to Its stockho olders.

An Important Letter Sent Ont by the
 Company to Its Stockholders.
 The following letter has been sent out by the U. S. Rubber company to it's
 stockholders, of whom there are many
 in this city:
 New York, April II, 1902
 To the stockholders of the United States | Rubber company:
 1 Gentlemen. circular letter has been addressed to the stockholders of the 1 United States Rubber company by Tal- | bot J. Taylor x Co, of the New York stock exchange, asking that proxies be sent to them in order to put themselves | and their associates in control of the l United States Rubber company in place | of the present board of directors. To avoid any misapprehension as to some points of the circular, the man. agement feels it to be it's duty to stock | holders to make the following state ment:
 | 1-There is no competition between | the Rubber Goods Manufacturing com pany, to which the circular refers, and the United States Rubber company. | The United States, Rubber company is interested in the manufacture and sale of rubber boots and shoes, while the Rubber Goods Manufacturing company neither makes nor sells boots or shoes, but other rubber goods only. By the unanimous vote of its direc- tors, about year ago, the United States Rubber company reduced prices in order to meet rapidly growing com petition in the manufacture of boots and shoes The result of such reduc- tion has been the abandonment of sev- eral companies which at the time were proposed, or which, having been organ ized had not started. Three companies then manufacturing rubber boots and shoes have since gone out of business, and others have eurtailed their opera tions While this has been the exper-
 fence of outside. companies, the United States Rubber company and it's sub sidiary companies have increased their gross, sales of rubber boots and shoes from BPS, 550,47 62 for the eleven months ending February 28, 1901, to ,S55,3S47 IS for the eleven months ending February 2S 1902, realizing therefrom prices not far from cost.
 3-Recently the management of the United States Rubber company has funded the entire indebtedness of the company and it's subsidiary companies, thus placing them in thoroughly lnde- pendent position, and enabling the in- troduction of economies not possible so long as there was floating indebtedness requiring continuous attention. The fact that this funding could be accom- plished during the time which in the circular is termed a period Of price war" would suggest that strong fnan- cial interests have confidence in the present management of the company and in it's future stability and prosper ity
 1.-The present board of directors comprises men who during the past half century have built up the rubber boot and shoe industry in this country, and have brought to their present state of efficiency the Boston Rubber Shoe company" the "Goodyear's India Rub ber Glove Manufacturing company, "L. Candee & Co.," and other subsidiary compa nes of the United States Rubber company Very recently there has been | added to the board four directors con- | sidered to be satisfactory to all stock holders. including those issuing the cir l cuar referred to-
 The question. therefore, for the stock | holders to decide is:
 Will they support the present board | of directors, composed as it is and per init them to place the company on | solid foundation where it will earn per | fair returns for it's stockhold- CTS or will they undo that which at | much expense and sacrifice has already | been accomplished in regaining in large part the rubber boot and shoe business 1 of the country, and turn the control of the company oyer to gentlemen who ! have had no experience in the | rubber business. and whose promise of i relief depends upon the formulation of a working agreement, which in their circular is declared with a frankness as unusual as it is dangerous, to be in tended to suppress competitions
 Respectfully,
 Samuel P Colt, President.
 Costello C. Converse vice president;
 James B. Ford, Treasurer;
 Lester Leland, Second vice president.
 me present DOafu ol ulIettolS are Samuel P. Colt President Woonsocket
 Rubber company, Goodyears Metal l.
 lie Rubber Shoe company and Ma
 tioual India Rubber company. Costello C. Converse, Vice president
 Boston Rubber Shoe company. James B. Ford, Treasurer Meyer Rub-
 Der company.
 Lester Leland, Treasurer and General
 Manager Boston Rubber Shoe Com
 pany
 E C. Benedict of F. C. Benedict x Co.,,
 Bankers, New York.
 Middleton s. Burrill of Iabriskie, Bur
 Till & Murray, counsellors at law. ]. s. Converse, President Boston Rub
 Der Shoe company. I, E. Converse, former General Man