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Newspaper
Carey Times
Location
Carey, Ohio, United States of America
Date
Dec 04, 1919
Page
8
Ohio corporation charter states authorized capital stock of 1,000,000 dollars divided into 500,000 dollars preferred stock and 500,000 dollars common stock. The filing indicates compliance with state corporate statutes and outlines share class values for governance and equity distribution.
The Carey Tire and Rubber Company organized as an Ohin Corporation to manufacture and sell rubber products. It will produce Carey Tires and Tubes as its initial line and engage in related rubber goods.
Organizers after considering sites selected Carey for its shipping facilities. They bought fifteen acres in the factory district near Hocking Valley and Northern Ohio Railroads to house a first unit and future expansions. The plant will be a reinforced concrete model factory with capacity for 500 tires and 600 tubes daily.
The Carey Tire and Rabber Company appoints an experienced head for each department led by Superintendent B A Seebach who joins from Mayon Tire and Rabber Company where he helped perfect that tire. Officers and directors are seasoned executives aiming to make investments safe and profitable while advancing their own interests.
The Rubber Tire industry is in its infancy yet already shows rising tire and tube production. Domestic demand exceeds output as automobile production grows, and foreign markets expand, making it likely demand will outstrip production for years.
The document projects first year production below capacity with later output of 500 tires and 500 tubes daily. It uses conservative profits of 3.00 per tire and 0.50 per tube, totaling 525000.00 yearly net profit before reserve and distributions. After reserving 200000.00, 185000.00 remains for common stock distribution.
An article urges buying both preferred and common stock, noting a liberal bonus of common stock with each purchase. It explains preferred stock as a first mortgage on company assets, while common stock carries watered stock value until profits formalize, with dividends split to maximize overall gains.
We should be pleased to answer any inquiry you may wish to make and will gladly furnish you any particulars regarding the organization. A letter or card from you will not place you under any obligations to us. We think when you hear what we have to offer that you will be interested. We trust that this will interest you as an investor and we would be glad to have you call at our Carey office and go over the proposition with us. Your inquiry will receive our prompt attention.
Industry reports show demand outpacing production as auto manufacturers face supply challenges. Analysts note tire makers like Fox Tires have benefited from past trends and expect continued profitability amid a growing market.
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