The Rubber Tire Industry

The Rubber Tire Industry

The Goodyear Tire & Rubber Co. announce “No war prices on Goodyear Tires,” and F. A. Sieberling, president of the company, thus explains the company’s position: “We advanced Goodyear prices, as others did theirs, when the rubber panic came. Almost in a day crude rubber rose in New York from 55 cents per pound to much over a dollar. And. as most of the world’s rubber comes via London or Antwerp, we saw no way out for a time. The New York supply was too small to consider. European exchange was entirely suspended. Merchant ships had ceased running. But we have an almost world-wide organization, and we brought it at once into play. We have our own experts in London, Colombo, Singapore and Para. We cabled our London people to buy up the pick of the rubber there. By acting quickly and paying cash they obtained 1,500,000 pounds of the finest rubber there. They bought before the advance, before the other buyers saw a way to get London exchange or to bring the rubber here. That big supply of rubber is now nearly all on the way to the Goodyear factory in Akron. It constitutes the best of the London supply. On inferior grades remaining, prices have since been rapidly advanced. We have since taken other steps to insure us a continuous supply, all of the highest grade rubber. In all the chief sources of rubber supply we have experts on the ground. All is being done that can be done to secure the best rubber, the exchange to pay it and the ships to bring it here. The result is that Goodyear tire prices are now the same as in June. We are using the same grade of rubber and the same amount of it as we always have used in these tires. We are running our factory with three shifts of men, twenty-four hours a day. So long as we remain in this fortunate position on rubber, we shall supply tire users at before-war prices to the limit of our capacity.”

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