New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-18
RUBBER WAR AVERTED.
II greement Bet7ceen u. S. and Con-
tinentag-Figure8 of the q. S.

The possibility has been avertei ot aggressive
warfare by the Continental Rubber Company upon
the United States Rubber Company, following the
breaking off of negotiations for a consolidation.
recently published These negotiations however,
are understood to be only temporarily abandoned.
In the annual report of the United States Rubber
Company, issued yesterday, President Colt an
uounces that the suggested consolidation with the
Continental has been deemed by the directors to
be inadvsable in the present development of the
process employed by the latter in obtaining crude
rubber through the grinding up of shrubs, but that
the Continental Rubber Company and the General
Rubber Company, the latter being a subsidiary OF
the United States Company, dealing with the crude
rubber end of the business, have agreed upon
the terms Of arrangement which insures COM
pete harmony and cooperation hereafter between
the United States Rubber Company and the Con-
tinental Rubber Company and between those con-
nected with both companies President Colt adds:
There have been transactions Of the company of
Importance TO stockholders. in which your pres-
dent and some of the directors have participated"
This may refer to negotiations between the United
States Rubber Company and the 1ntercontnental
Rubber Company which controls the Continental
Rubber Company and the American Congo
Company.
The Continental Rubber Company. It will be
membered, is a corporation controlled by Thomas
F. Ryan. the Guggenheims. John d. Rockefeller,
jr, Senator Aldrich, Of Rhode Island, and other
important financial interests, which is extensively
engaged in the manufacture OF rubber from the
suayule plant in Mexico The same interests a
few months ago obtained from the King of the
Belgians vast concessions in the Congo Free State
among them covering immense tracts Of rubber
lands. The United States Rubber Company, which
is the largest manufacturer In the United States
of rubber boots and shoes. and which. through its
subsidiaries, dominates also the manufacture OF
rubber goods, has long been well intrenched the
crude rubber field, and last fall strengthened its
position by acquiring control Of Alden. symington
d Co, the most important crude rubber firm in
Europe, which subsequently reorganiEed as
William Symington & Co. corporation the entire
capital stock of which is owned by the United
States Rubber Company.
The volume of business and the net profits OF
the United States Rubber Company in the last
fiscal year, President Colt says were the most
satisfactory Of any year In the company's history.
He gives the following comparison of results Of
operation between 1901 the year of his presi-
dency. and the, last fiscal year:
The company was then paving no dividends unon
any OF its stock; it is now paying full dividends
upon Its preferred stocks The eompanys net sales
sales for the year ending March 81 1907 excu-
were $39 rs $50 &C. and with the sales Of the latter
company of $9,7320 ST. $50 452 SOL Al. The net
profits of the company for the year ending March
81 1ste. We're Sl19495 Co. and for the year ending
March g. 1907, $i590SS2 p, with but s6s9 sos %
asa Is included. The surplus Of the company which
was then nominal, is now $6,126706 Al
Every indication, the report says. points toward
a largely increased business in rubber footwear
In the coming year. The market is bare of goods
and the untitled orders are 60h per cent larger than
they this time last year.
The consolidated general balance sheet of the
United States Rubber Company and subsidiary
companies, as of March 81, 1897. follows:
ASSETS
PE M eg and plants Including shares Of R G ga
Inventories manufacturer goods and
Cash 5,.;,h 26si,40