Cooper Review (Cooper, Tex.), Vol. 41, No. 5, Ed. 1 Friday, January 30, 1920 Page: 3 of 10
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fcrt
IB
oney in Promises,
iy Bigger Dividends
AN ABSOLUTTELY SAFE INVESTMENT CARRYING A 20 PER CENT COMMON STOCK BONUS IN AN INDUSTRY WHOSE
SECURITIES ARE GENERALLY RECOGNIZED AS SAFE AND SOUND.
$100,000.00
The Great Republic fire and Rubber Manufacturing Company
Hi ~ 7 PER CENT FIRST MGRIG1SFFHE YEXH CONVERTIBLE GOLD NOTES
Executive Offices, MUSKOGEE, OKLA. (Subscriptions to This Issue Received from $100 Up) Factory, McALESTER, OKLA.
HISTORY AND ORGANIZATION.
The Great Republic TueT!: KuTjTru- Mlg. Company was
organized in the early part of 1917. The present factory
buildings and real estate of the Company was acquired in
August, 1917. The men active in the affairs of the Company
are all successful and experienced executives and they have
surrounded themselves with capable and skilled men as
heads of the various manufacturing departments. Our fac-
tory superintendent having come to us with a record as an
expert in building high grade tires and tubes.
At the present time the Company has agencies estab-
lished in Colorado, Oklahoma, Texas and Louisiana, which
gives us a wide and economical distribution for our pro-
ducts. At this time we have a large volume of unfilled or-
ders on our books. Through the employment of additional
operating capital the volume of our business can be greatly
increased. Of our authorized capital of $500,000.00 there
is at the present time outstanding at par value $160,000.00
and our balance sheet of November 30, 1919, shows net as-
sets in excess of $200,000.00.
BUSINESS: The Company owns and operates a fireproof,
modern and new eqilipped factory at McAlester, Okla-
homa, in which it manufactures high grade automobile
tires and tubes. The Company plans to extend the
scope of its operations at an early date, to include such
'other rubber products as baiting, packing, heels, soles,
and druggist sundries.
AMOUNT OF ISSUE: The total amount of this issue is
$100,000.00 and the trust indenture provides that no
other mortgages of any description shall be issued by
the Company while any part of the issue is outstanding.
DENOMINATION: Thbse notes are issued in danomina-
-• -Piomr of-$4D0, $200. $500, and $1000 each.
DATE OF ISSUE: October 1st, 1919.
MATURITY: Five years after date, or October 1st, 1924.
INTEREST: These notes bear interest at the rate of 7 per
cent per annum, payable semi-annually, evidenced by
coupons attached to notes. The trust indenture furth-
er provides that funds for (he payment of interest
must be deposited with the Trustee at least 30 days be-
fore said interest coupons become due.
TRUSTEE: H. B. Ernest. Both principal interest are
payable at the Exchange National Bank, Muskogee,
Oklahoma, office of the Trustee.
SECURITY: First Mortgage on all assets of the Company,
including factory, machinery, raw material, etc. Ac-
cording to last balance sheet of the Company these
notes have collateral in excess of $2)0,000.00. No other
bonded indebtedness outstanding.
This issue of notes is a direct obligation of the Great
Republic Tire and Rubber Mfg. Company, seccured by a first
mortgage deed of trust on all real estate, buildings, machin-
ery and other assets of the company. Our factory, consist-
ing of large modern fire-proof buildings, is well located at
McAlester, Oklahoma. Our machinery is new and of the
most modern and improved type. Our books are audited
regularly by Baker, Vav/tcr & Wolf, well known certified
.lv’Nhc accountants, whose report of April 12th. 1919, is on
file m our office. After the proceeds of this issue are used
ar provided for in the deed of trust,- in our opinion the net
assets as security for this issue will be at least three dol-
lars far one.
NET QUICK ASSETS: The trust indenture " "‘her pro-
vides that the Company > til nr. ‘.'tU all •
5SET3
cf at least. $100,000. 0.
OBJECT OF ISSUE: Pj m thin dll
give the Company the uece sary n;1 TUonal c •er. in-
' for the purchase of large quant! 1 % < rue rubber and
- other raw material, at favorable mark—. < w b.-!u ■ l'1 *
O'UV to fill the 1 velum e , ; .• • nr *
td to great!v incr< me the scope of 1 heir onera-
McAlester is within one hundred miles of the lead and
fine"mines of UTianigOklahoma, and is closer to the sup-
ply of cotton fabrics than the_tire factories of Akron,
Ohio, and of the East. Every ingredient which enters
into the manufacture of tires and tubes either origi-
nates in the South and in immediate territory of the
factory or passes through the south. These advantages
effecting a reduction in the cost of manufacturing will
enable the company to make AS GOOD a tire and tube
as our Ohio and Eastern competitors, and to sell it at
the SAME price but at a GREATER PROFIT, or it will
enable the Company to make a BETTER tire and tube
than our competitors and to sell it at the SAME PRICE
and make the SAME PROFIT. After paying all fixed
charges, overhead and other necessary expenses the es-
timated profits tor the fiscal year ending December 31,
1920, based upon a business of $500,000, should be 15
per cent upon the outstanding stock of the Company.
The Company’s officials are all men of proven ability and
while each has a general working knowledge of the bus-
iness of every department of the Company, each offi-
cial is a specialist of his line of duty, with the result
ehat a high degree of efficiency is attained.
EARNINGS.
Earnings derived from the sale of tires and tubes for
the past six months show a gross profit of approximately
25 per cent. A large part of these sales were made to deal-
ers at heavy discount and at he time when the Company
was doing only a moderate volTme of business. By operat-
ing to capacity production we see no reason why the per
cent of profits cannoUbe considerably increased. Inquidies
for agencies for the sale of our products have been received
during the past few months, from all over the United States
and several foreign countries.
OFFICERS AND DIRECTORS.
W. IT. Owens, President and General Manager, Musko-
gee, C-kla.
E. C. Marianelli, Vice President and Genera! Counsel,
McAlester, Okla.
H. Erhenberger. Treasurer, Okmulgee, Okla.
W. C. Pope, Secretary, Muskogee, Okla.
Frank Dowell, Director, Oolagah,1 Okla.
Ic. C. Bush, Director, Muskogee, Okla.
C. A. Peterson, Director, Broken Arrow, Okla.
C. W. O’Donnell, Factory Superintendent, McAlester,
Oklahoma.
SAFEGUARDS.
The trust indenture under which these coupon notes
are issued, provides the following:
(1)
(2)
(3)
(4)
(5)
C(
No mortgage or prior liens may be placed upon the
assets of the Company.
Net assets must be maintained at an amount of at
U as $100,000.00—the amount of this issue.
Insurance upon the property must be carried at all
times for an amount equal to the par value of the out-
standing notes. The policies to be assumed to the
trustee for the protection of the noteholders.
Proceeds of issue to be used in strengthening present
assets.
Funds for payments of interest coupons must be de-
posited with Trustee at least 30 days before coupons
are due.
DEMPTION: The tru I ur farther
J''. not- in whole or in part are redeemable, at the
opff m o ’ the Company. uf any interest raying period,
after one year from the date thereof, at 105 and ac-
d interest.
isio further
• if the option cf the hob'.ev thereof, be converted
eru'
mei growth of agencies already established,- unfilled-srdera -
now on our books, and to secure new business that has been
offered to us. The steadily increasing demand for tires and
tubes is so great that we believe that, from present dealers,
orders in hand and new business which has been offered us
we can increase our production to 200 tires and 500 tubes
per day, and sell all of this output at a good profit. Basing
the volume of our business for this year, in our opinion, up-
on the conservative estimate of gross sales amounting to
$500,000.00, we expect, after taking care of depreciation,
taxes, interest, and othei usual expenses, and after paying
the interest on this issue as well as creating a sinking fund
for the redemption of the same, to be able to pay dividends
of 15 per cent on the stock outstanding.
In conclusion, it is our opinion that because of the char-
acter and amount of our assets, our demonstrated earning
power—our standing among the trade and the safeguards
that are incorporated in the deed of trust for the benefit of
the noteholders, this issue of coupon notes, will afford safe-
ty of principal and certainty of prompt interest payments.
Money invsted in Great Republic seven (7) per cent
first mortgage Gold Notes is absolutely safe and is better
than money in the bank, because the rate of interest is high-
er and the further fact that we are offering a substantial
bonus of our common stock. This stock is now selling on
open market at twenty dollars per share and we predict that
it will go much higher before the close of the year. Hold-
ers of “GREAT REPUBLIC” 7 per cent mortgage notes
are entitled to buy their tires at a discount of twenty-five
per cent from the current retail price, and this in its self is
a substantial saving.
An opportunity like this was never before offered you
and you will have to grasp it quickly as this exceptional
high class issue of securities will be quickly absorbed by
hundreds of eager investors who know what tire securities
are.
Consider the following salient facts, 98 per cent of the
Tire Manufacturing concerns have earned from 20 per cent
to 100 per cent per year on the actual money invested. The
market for guaranteed tires is enormous and is constantly
increasing. Hundreds of thousands of new automobiles
are being manufactured everv year, there now being moi*e
than six million in use in the United States alone, and every
automobile in use requires at an average of six tires and
eight inner tubes oer year.
On account of ideal distributing facilities, our location
in the heart of America’s richest coal fields, our easy access
to cotton, rubber and other necessary, raw materials, Okla-
homa is the ideal and logical place for a tire factory. It is
estimated that within a radius of three hundred miles of
our factory there are now in use nearly one million automo-
biles. Our officers and directors are conservative business
men with practical experience in the rubber business. We
now have practically two thousand stockholders numbering
scores of the ‘most, prominent citizens of several states. It is
estimated that Texas, Oklahoma, New Mexi • and Kan si
spent seventy-five million dollar for tires and inner tubes
in 1919. This enormous sum was sent back east to enrich
the fortunate stockholders of eastern tire companies.
Enormous fortunes have been made in the tire indus-
try, from a small investment made several years ago, when
the industry was in its infancy and the demand for tires
was very small compared with the present day demand.
From kb'-tics • Gw-a! we cite the following:
$200 invented in Dunlap Tire ha-? nrwb ________$190,009.09
fid in ai has ma 1? ____________ 75 000 00
$200 inve tt r in Goodrich Tiro has made_______ 164,000.1)0
$200 invested in F’restone T:re has made______ 125,000.00
■
>ne
-n-'i
!. of the Gompar.v at any time
dif/\ This provision is purely
and is node so that if 4 ho com-
'Akq Ct'
COED’
U ■ ; ie istafcli dim::
t FACTS REGARDING
is the owner in Re sun
the fact bu
vul ideally suited for !
ilers.
"or
of the
ih
K BONUS
V ''r63 .*■'
amount, s"
•y attractive a
ye dividends an
id hr
is materially
On
e note--'.older r
nay
take advan-
7 per cc
t
: To mvmh 'C'
V-
n .? 1’- ^ .^4.^
origira1
dommor Sfoek
Mg TkpM
aide
p-i p-.
notes pur-hac
rd.
This makes
$200 invested in Fisk Tire has made
3200 divested in KellytSpringficld Tire has mad
$2)0 invsted in Aiax Tire has made________
\
the
(b
•f
md dollar,sv'invest - 1 in GREA
mertpaae Cold Note s rn
,
1 bv.'.-fd irw.n - v, turned with 7 p cent i
md wo believe at the end c
rl <•* 1 ^ m v l of* r.' * f' W1.** *
60.000. 90
! 90,000.00
55.000. 00
50.000. 00
REPUBLIC
s a free bonus of
t five v jihns your
r
ay-
V
t
f
mo very attractive ar. the security
: v ■ s ivs1in our cn’vioTU pp absolutely safe invert,
ment, and at the same time gives the holder the -T'-v-
latlvp value .of th° common stock. This s!oeV is now
celling at $20 per share and the bonus stock will be is-
sued on this basis. •
T'T'j.'iGE • pur and peer?* d interest.
'
I«FC ATETV: TTrn W. T\ McGinnis, Muskogee. Oklahoma.
■ E: -U. S District Attavney. Firm uf McGinnis & Mo-
Vnov, Mnekog'“. Oklahoma. Hon. E. C. Marfir.nelli,
Me Ale.ster, Oklahomn.
REFERENCE.
P. G. Dun Mercantile Agency, Bradstreets.
SUMMARY.
P :s imp0-stive that we extend and increase our mami-
f '.ctuning facilities so as to enable us to take care of the nor-
nir
tv
>r ar
The
n
.A.
: |
city of Me Ad ?/1
-A fpo rrr>*- linen o
d .tin
d-
-]i
•ilroad"
in/
Oklahoma, *.vk
the Rook NUnd ard M <.
pry is connected with G- n
-"hv'ovh its tv ■-'*1 tadVoad. sidi”. --. M",\lo tor ' :c
head-• ’.artr-.r" vb 1 coal ind isti*" f Oks)'-'’'a, t
by affordin''- chopper fuel. This advantage is in err vl
by the 'Vcd thr.i ' 1 dv to' be in pn**: ig v" >ntiti -■ o it
nnd-r th° C?mv-:r-*/' property, and a contract has h an
made with n cod r.cmnonv for the mining of raid d.
The sc, t • ■" ° . 'oth f< v union and non-union 1 r,
i - low*-," in Mr A1, -.for than m other cities in the state.
This mil-. »*lal!y cud s down the cobt of manufacturing.
a thousand dollars, besides the <
ycvtpvill recu'vo on the same during that p
To n/ericipate in this high class and <
nick ■ ,■< 1 i •, ’’ d, ::'■)! ' !
•xept]
THE GRS^T REPUBLIC TIRE & RUBBER MFG.
( t\\NY, Executive Offices, Muskogee, Okla.
Gentlemen:—Please send me foil particulars of your
pr. : o- i;>n without obh’rntirg me in any way.
I
NAME__________________________________________
I ADDRESS ______________________________________
R
n
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Cooper Review (Cooper, Tex.), Vol. 41, No. 5, Ed. 1 Friday, January 30, 1920, newspaper, January 30, 1920; Cooper, Texas. (https://texashistory.unt.edu/ark:/67531/metapth996219/m1/3/: accessed July 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Delta County Public Library.