The Barre daily times. (Barre, Vt.) 1897-1959, 1910-08-27
AS TARIFF BENEFICIARY
Earned 100000 Per Month--A Great
Jump in the Profits Of the Inter-
continental Under the Payne
Bill.

drich is hand in glove, according to Wall
street, with the United States Rubber
company, the sl2oooOOoo Infant in.
dustry,7 to protect which ae caused the
tariff on rubber goods to be increased
about 10 per cent.
Among the more striking facts on
which Wall street bases It's assertion
are the following:
Senator Aldrieh is the controlling
stakeholder and virtual owner Of the
S4o,oO00OO lntereontinental Rubber com
pany, which produces more than So per
cent. Of the Mevican crude rubber known
as guayule
The entire production, practically, Of
this company IS taken BY the United
States Rubber company, under special
contract between the two concerns, at a
price said in the trade to be slightly
above the prevailing market price.
The agreement or contract was made
soon after the failure Of an attempt to
force the United States Rubber com
pany to purchase at an exorbitant price
the good viii and property OF tie Inter
continental and subsequent to a threat
by the latter that it would enter the
manufacturing end Of the business it.
self
samuel Pomeroy Colt, president Of the
United States Rubber company, is the
fellow townsmsn, business associate POI
litieal ally and close personal friend OF
Senator Aldrieh,
The majority Of the manufactured
rubber goods affected BY the Increase in
the tariff are goods such as rubber foot
wear, garden hose, etc, in the making
Of which guayule rubber enters extern
siveIy.
Since the passage Of Che Payne-Al
drich tariff law, increasing the duty on
manufactured rubber, the price Of crude
rubber has advanced enormously. al /
though recently it has dropped back +
considerably.
The earnings Of the Intercontinental
Rubber company since the passage Of I
the Payne-Aldrieh tariff law have been /
at the rate Of 100000 a month.
The advantage derived BY the United |
States Rubber company from the in.
crease in the tariff is clearly demon.
strated in the last report of the cor
poration, for the fiscal year ending
March 81. 1910 IN presenting that rel
port TO the stockholders, President Colt
made the following remarks in little
brochure issued eonfdentiallys
tine past year, on the whole, has
been the most prosperous in the history
81 the company. The sales Of merchan-
iise by the United States Rubber com
pany and its subsidiary companies, as
also BY the Rubber Goods Manufactm.
ng company and the Canadian Consoli.
lated Rubber company, limited. were
arger than in any previous year, and
he net profits likewise we're greater.
"The sales Of the company for the
gear were $Ss,7ll05l4s, as against
s3l .ss9,35l.s4 the previous year. Part
II this increase, however. is accounted
or by the higher selling prices which
he company was compelled to establish,
wing TO the higher cost Of crude rubber
md other materials.
AS against S4507 655.s9, the net prof
t. for the year ending March 81, 1909,
hose for the present year are $3.50
6sl5, this net profit being after setting
# 100000 as a reserve for contingen.
les. Should we add to these net prof ,
IS the company's share OF the undivid- /
d profits in which it is stakeholder,
which are not included in the consoll-
ated statement, the profits for the year
would be about 81 ,235,000 c
The export business Of the company J
fas larger than in any previous year
he several foreign agencies for our
tandard brands are now established on {
substantial basis, and We look for 5
steady growth OF this branch Of our Il
:
The profitable condition Of tile export
-ade demonstrates, it was pointed out,
hat the strongly protected 'infant in
ustry" is able to undersell in its own
iarkets the cheap labor product Of
EUROPE, Of which it Processes to be in
ach terror.
If it can do that there, it was added,
here the cost Of transportation across
he Atlantic has to be added to the cost
/ production. there is something wrong
18th the prices at which it sells its
Gods mere and which are 50 per cent
igher than those in the foreign
iarkets
Guayule rubber comes into the com.
y free, so that Senator Aldreh, Thorn
: F. Ryan, John D. Rockefeller and
he others who own the Interconti-
entail Rubber company do not nave to
art with fraction Of the 100000 :
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