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Newspaper
Carey Times
Location
Carey, Ohio, United States of America
Date
Dec 18, 1919
Page
8
The notice states incorporation under Ohio law with authorized capital stock totaling 1 000 000. It specifies 500 000 dollars in preferred stock and 500 000 dollars in common stock.
The Carey Sire and Rubber Company is an Ohio Corporation formed to manufacture and sell rubber products. It will produce Carey Tires and Tubes as its initial offerings.
The organizers chose Carey for its shipping facilities after considering various sites. They purchased fifteen acres in the factory district beside the Hockisyg Valley and Northern Ohio Railroads to support a factory unit and future expansion. The plant will be modern brick and reinforced concrete with capacity for 500 tires and 600 tubes daily.
The Carey Wire and Rubber Company names an experienced head for each department with Mr. B A Seebach as Superintendent, formerly with Mason Tire and Rubber Company where he helped perfect that tire line. Officers and directors are seasoned and aim to make investments safe and profitable while advancing their own interests.
The Rubber Tire industry is in its infancy and current production is small compared with future needs. Domestic demand for tires and tubes exceeds present output while automobile growth drives higher demand. Foreign markets also show growing appetite for rubber goods, suggesting sustained demand surpassing production for years.
The first year will be below capacity. Afterward 500 tires and 500 tubes daily are planned, about 150000 of each yearly. Profit per tire is $3.00, totaling $450000 annually. Tubes yield 50 cents profit each, about $75000 more. Combined, $525000 before reserves and distributions. After setting aside $200000, $325000 remains for distribution. 14 percent tax on common and preferred stock reduces remaining funds. The figures are presented as a very conservative, achievable estimate.
An old promotional note explains a liberal bonus of common stock with each purchase of preferred stock. It contrasts preferred stock as a first mortgage on company assets with watered common stock, highlighting promised 7 to 14 percent preferred dividends and the potential for large profits through common stock as profits rise.
A parcel of promotional language invites inquiries about an organization offering details and urging visits to the Carey office. The letter assures no obligation from a reply and promises prompt attention to investor interest.
Automakers struggle to meet demand while tire needs surge. The rubber industry has historically delivered gains for investors and is expected to continue profiting as consumption expands.
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