The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11

The present company now build
ing its first factory unit on East
Smith Road was formerly organized
as the Akron Universal Tire Co,
Akron and Salem, Ohio. The orig
inal charter being secured under the
laws of the State of Ohio, February
l4th, 1919, with an authorized cap
ital of $7S,000, G. R. Baker, Of Ak
ron, President, Frank Swagey OF
East Liverpool Secretary and Treas
urer. They made arrangements
with the Porter Rubber Company,
Salem, Ohio, to manufacture their
tires and tubes as required Mr..
Baker secured patents on very
unique and striking tire thread design
consisting of az series of pyramids so
arranged as to make an ideal non
skid pattern. Molds and cores were
secured and the first tires placed on
the market in April of 1919. From
the first these new tires met with the
hearty approval of the dealers to
whom they were offered and such a
I volume of business was doneS- the
first year that on April lst, 1920
the company paid nine (9) per
cent dividend on both its common
and preferred stock.
Invited to Medina.
Early in 1920 an effort was made
by local business and professional
men to secure a rubber factory for
Medina and upon canvass, it was
found thatithe citizens would well
come an addition to the local indus
tries. The committee accordingly
through Mr. w. E. Case (Ernie) got
in touch with the officers Of the par
erit company and induced them to
come to Medina, look the situation
over and consider proposition to
locate here. The local citizens
Eommittee finally prevailed on the
officers of The Akron Universal Tire
Company to usbmit to their dealer
stockholders the question of locat-
ing their plant in Medina with the
understanding that the local men
would sell, three hundred thousand
dollars ($3O0,000.00) of the 8 per
cent Preferred stock for the purpose
of enabling the company to increase
its business more rapidly and to
build and equip a plant
Consolidation Effected.
The stockholders Of the old COM
pany agreed to the plan Of locating
here, and on the 18th of July, 1920,
the new Akron Universal Tire ~
Rubber Company took over the en-
tire assets of the former company
and the Company officers were moved
y to Medina. The new company was
also Incorporated under the laws Of
Ohio with an authorized capital of
$800000.00- tax-free and non-assess-
able. The Blue Sky Department
agreed to the plan Of giving the Npur-
chasers Of the first Three Hundred
Thousand Dollars ($300, ,00O.0O
worth of stock, one-half as much
common as each one bought Of the
preferred.
Progress.
Since coming to Medina the Com
pany has continued its policy of hav-
Il Ing tIICS, LuD0b dHuf OtuCi PlOuuStS
manufactured for it BY other com
panies until such tinIe~ as the factory
here can be completed. It has been
greatly handicapped on account of the
various factories inability to keep up
with its orders. Many hundred
dollars more would have been earn
ed except for the fact that tiresNard
tubes could not be secured in the
quantities required. This has been
particularly the case, with the Cord
tire.
Building Being Rushed.
The site is now scene Of actiy-
ity. The progress of the buildings
Is such that the picture herewith Is
ancient history before it can be
printed. The entire structure is
now under cover and work will pro-
ceed regardless Of the weather
IA Going Business.
Everyone should know, that as
above mentioned, the company isl q
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