162 



THE INDIA RUBtsER WORLD 



[February i, 1902. 



REVIEW OF THE CRUDE RUBBER MARKET. 



EARLY in the month the embarrassed condition of an im- 

 portant importing house was made known, with the re- 

 sult that the market has since been in an unsettled con- 

 dition. The house in question having held larger stocks 

 than had generally been supposed, the trade naturally became 

 concerned to know how speedily this surplus might be placed 

 upon the market. In one sense the stocks referred to were in 

 strong hands, but banks holding rubber to secure advances 

 do not necessarily have the same incentive as a merchant to 

 hold surplus stocks with a view to sustaining the market. It 

 appears, however, that the policy has been pursued of grad- 

 ual liquidation, so that, while a lower level of prices is to 

 be reported, the decline is less than might otherwise have 

 resulted. The attitude of manufacturers, however, would in- 

 dicate the hope, on their part, that still better terms may yet 

 be had, in which they are encouraged by the fact that all pre- 

 dictions of a midwinter falling off in receipts at Para have failed 

 of realization. Up to January 28 arrivals there, for the crop year, 

 had amounted to 15,614 tons, against 13,735 tons up to Febru- 

 ary I last year. 



Whatever motives may have led to the recent accumulations 

 of rubber — much of it at high prices — the eflfect of the business 

 failure which followed will be again to discourage, for awhile 

 at least, the idea of " cornering " rubber. While it is true that 

 the production is in many ways restricted, and can be extended 

 only by slow degrees, while the consumption seems ever on 

 the increase, yet higher prices somehow have the effect always 

 of brmging more rubber to market, and lower prices the oppo- 

 site eflfect. This fact operates as a certain safeguard against an 

 unlimited inflation of prices by control of stocks. It is a fact, 

 too, which an experienced trader might be expected to con- 

 sider before buying laagely, at prices already abnormally high, 

 a commodity which shrinks so rapidly in volume as rubber, 

 and the expense of storing which is so heavy. 



In dealing with the stocks of Para rubber in the United 

 States at the beginning of the year, the annual review issued 

 by the Henry A. Gould Co., gives a much larger estimate than 

 has been usual in the trade, based upon the holdings of the firm 

 whose recent embarrassment is referred to elsewhere — 856 tons 

 larger in fact, than reported in other channels. The difficulty 

 is admitted, however, of deciding how the rubber in question 

 should be allotted as between importers and consumers — so 

 that the amount really to be reckoned with in market values 

 remains to be defined. 



Centrals are taken readily on arrival at New York, but Afri- 

 cans are in less demand, as is to be expected whenever coarse 

 Para is obtainable at the existing prices. 



New York quotations on January 30 were : 



PARA. 



Madagascar, pinky.. . .61 $62 

 Madagascar, black .... (3 



Islands, fine, new 75 ©76 



Islands, fine, old 77 (§78 



Upriver, fine, new 76 @77 



Upriver, fine, old 78 @7g 



Islands, coarse, new. . .47 ©48 



Islands, coarse, old... @ 



Upriver, coarse, new. .60 ©61 



Upriver, coarse, old.. . @ 



Caucho(Peruvian)sheet 47 ©48 



Caucho (Peruvian) ball 55 ©56 



EAST INDIAN. 



Assam 57 @58 



Borneo 36 ©46 



CENTRALS. 



Esmeralda, sausage 51 ©52 



Guayaquil, strip 50 ©51 



Nicaragua, scrap .. . .51 ©52 



Mangabeira, sheet. . . .40 ©41 

 AFRICAN. 



Tongues 44 ©45 



Sierra Leone, istquality63 C'*64 



Benguella 45 ©46 



Cameroon ball 44 @45 



Flake and lumps 30 @3i 



Accra flake 17 @l8 



Accra buttons 46 @47 



Accra strips 51 ©52 



Per Kilo 



Upriver, fine. . . sfgoo 



Upriver, coarse 4$30O 



Upriver, coarse 3$500 



Lagos buttons 45 @46 



Lagos strips 50 ©51 



Late Para cables quote : 



Per Kilo. 



Islands, fine 5$ooo 



Islands, coarse 2$700 



Exchange; 

 Manaos advices, same date : 



Upriver, fine 5$400 



Exchange iz^^d. 



NEW YORK RUBBER PRICES FOR DECEMBER (NEW RUBBER.) 

 iQOi. 1900. i8<}g. 



Upriver, fine 85 ©87 92 ©95 108 @iio 



Upriver, coarse 65 ©66 67>^@69 86 taqo 



Islands, fine 79 @8i 86 ©89 i05V2@ic8 



Islands, coarse 48 ©5' 53 @S4/i ^5 ©^9 



Cameta, coaise 50 ©51 54 ©56 66 ©70 



In regard to the financial situation, Albert B. Beers (broker 

 in India-rubber, No. 58 William street. New York), advises us as 

 follows : 



■' During January the demand for paper was very small for 

 the first half of the month, but during the last few days has in- 

 creased somewhat, though not yet large, and present rates are 

 5 per cent, for the best rubber names and 5;^ @ 6 per cent, for 

 the smaller ones." 



Statistics of Para. I^ubber {Excluding Caucho) . 



Stocks, November 30. tons 

 Arrivals, December 



Aggregating 1255 



Deliveries, December 794 



Stocks, December 31. 



Stocks, November 30. 410 

 Arrivals, December... 3545 



Aggregating 3955 3755 2905 



Deliveries, December. 3805 3095 2245 



2126 



827 



700 



1015 

 575 



Stocks, Dec. 31. . 150 



660 



660 



1299 



7S0 



440 



igot. 1900. 1899. 



World's supply, December 31 4432 3660 3233 



Para receipts, July i to December 31 12,689 [ ^ ^^ ^g 



Para receipts of Caucho, same dates 946 ( ' 



Afloat from Pari to United States, Dec. 31. *II36 450 977 



Afloat from Para to Europe, December 31... fiHO 1120 826 



[* Includes 58 tons Caucho. t Includes 20 tons Caucho.] 



United States Crude Rubber Imports. 



[fkom government retu 



FlloM — 1899. 



United Kingdom pounds 10,438,594 



Germany 2,1 10,930 



Other Europe 7,480,466 



Central America , 1,458,255 



Mexico . . 407,237 



West Indies : 5 ,028 



Brazil 29,428,103 



Other South America 2,156,190 



East Indies 857,536 



Africa. 4,106 



Other Countries 62,050 



RNS.] 



1900. 

 7,640,073 

 1,428,339 

 6,124,247 



1,363.131 

 362,960 



35.125 



30,571,680 



1,161,897 



600,306 



49.425 



6,802,372 

 1,832,558 

 9,400,127 



1,247,517 



267,565 



42,844 



33.719,709 



I,336.I3I 



455.870 



48,117 



Total pounds 54,408,495 49,337,183 55.152,810 



Value , .$34,219,019 $28,577,789 $28,120,218 



Gutta-percha imports 506,988 



Value $178,301 



367,465 

 $142,376 



410,092 

 $224,807 



