Margaret, this gives a bit of history when there shares are being made available. I expect that is why we suddenly see the companies mentioned so much in the Times - share prices updated on a regular basis. It seems that this man/companies was worth a fortune???
The profits of the 4 companies are 1922 - £110,708; 1923 -£116,016; 1924 - £134, 288; 1925 - £106,425.
Times - October 18th 1926
PROSPECTUS The company has been formed for the purposes mentioned in the memorandum of association and with the immediate object of taking over the business and net assets as on 30th November 1925 with the profits since that date except as in herinafter mentioned, of the present private company, Phillips Rubbers Lyd., of 142, 144 and 146 Old Street, London E.C.1. This company and its undermentioned subsiduary companies are the proprietors, manufacturers ans distributors of the well known PHILLIPS RUBBER SOLES AND HEELS for boots and shoes including the celebrated:
Phillips 'Military' Soles and Heels
Phillips 'President' Soles and 'Stick-a-Soles'
Phillips 'President' and 'Magna' Heels
Phillips Heel Tips
The assets to be aquired include all the issued shares in the following subsiduary companies viz:- Phillips Patents Ltd., 142, 144, and 146 Old Street, London, E.C.1
Premier Waterproof and Rubber Co., Ltd., Guide Bridge, near Manchester
Progress of Business
The original business was established by Mr. W.W. Phillips in 1898, and was converted into a limited company in 1903 under the title of Phillips Patents Limited. The business gradually developed, and became very extensive; and in November 1919, a new private company, Phillips Rubbers Ltd., was formed. This company aquired all the issued shares in the original company and in the Premier Waterproof and Rubber Co., Ltd. [which for some years previously had been manufacturing soles and heels for it], and shortly after that date the latter company became and has since been exclusively engaged in the manufacture of Phillips Rubber Soles and heels. In December 1923, further developments took place, and all the issued shares in the Guide Bridge Rubber Co., Ltd., were aquired; and since then, that company has been exclusively occupied in the manufacture of soles and heels for Phillips Patents Ltd. Many millions of pairs pf 'Phillips' products are now sold yearly in Great Britain and throughout the world; and there is considerable scope for largely increased business at home and abroad. THe name 'Phillips' is a household word in Great Britain in connection with rubber soles and heels and is also widely known throughout the world. It is a registered trade mark in Great Britain and in many other countries, and has acquired a very hight reputation for excellence of quality and scientific design. The goods have been, and are, extensively advertised. The business is well organised, and has been developed on sound and progressive lines.
REGISTERED DESIGNS &c
The assets to be acquired directly, or belonging to the subsiduary companies, include numerous registered designs, patents, trade marks and formulae which are very valuable. Many of these rights were originslly held on licence from Mr. W. W. Phillips at a royalty, but in 1923, Phillips Rubbers, Ltd., purchased these outright and compounded all future royalties by payment of a substantial sum in cash. Any future inventions by Mr. W. W. Phillips relative to rubber soles and heels up to 1st December 1934 [since extended to 1st December 1941] were included in the purchase without further payment, and the company will have the benefit of this important provision
hope this helps a bit more
Margaret
