September 1, 1914.] 



THE INDIA RUBBER WORLD 



687 



Review of the Crude Rubber Market. 



SINCE April 17, when the London prices of fine Para and 

 plantation rubber stood on a level at 3s. y^d. (73.99 cents) 

 the former had by July 31 receded to 2s. lOyd. (69.93), while the 

 latter had dropped to 2s. (48.65 cents). The latter days of July 

 had witnessed a fair demand for consumption. Contidence was 

 felt in the situation of the American trade ; the demands reported 

 for fall tending to disprove any idea of United States manufac- 

 turers being overstocked with goods. Meanwhile, rubber sup- 

 plies of unprecedented magnitude were anticipated from the 

 East. 



The month of July with three auctions including an aggregate 

 of 2,535 tons was a test of the market's absorbent capacity. Two 

 sales were held at the normal dates of July 7 and 21, each of 

 about 1,000 tons, which met with a brisk demand. Owing to the 

 approach of the Bank Holiday on August 3, a supplementary 

 auction was held on July 28, the last sale held before 

 the market closed by reason of the war. About 440 tons were 

 offered, for which competition was good, prices showing a 

 reduction of only yid. to Yid. on those ruling the previous week. 



The latest nominal quotations on August 1, before the holidays, 

 were fine Para 2s. lOd. (68.92 cents) ; plantation 2s. (48.65 cents). 



In view of the opening of the war in the first days of .August 

 business was dislocated and although on August 8 the price of 

 2s. (48.65 cents) was nominally still current for plantation, no 

 business was being done, the disturbance of shipping facilities 

 rendering both sellers and buyers disinclined to operate. 



The market had not reopened after the bank holiday of August 

 3, and the auction scheduled for August 11 was indefinitely post- 

 poned. 



NEW YORK M.-\RKET FOR r.\RA RUBBER. 



In the closing days of July upriver fine Para was being of- 

 fered in New York at 72 cents and first latex at 55-56 cents ; quota- 

 tions on July 30 being respectively 70-71 cents and 54-55 cents. 

 On July 31 contract business was suspended and all quotations 

 by speculators withdrawn. August 1 witnessed a market of the 

 usual quietness for a Saturday. On the following Monday, 

 August 3, while London was closed, there was a sharp advance 

 in upriver fine Para, a sale having been reported at $1 a pound, 

 being 30 cents above the price of 70 cents current on the pre- 

 vious Saturday. 



From .■\ugust 5 to August 15 prices nominally ranged from 

 $1.10 to $1.25; sales being reported at $1.10 to $1.20. 



On .'\ugust 12, advices were received of a steamer with 275 

 tons of rubber being scheduled from Brazil, but leading sellers 

 would not quote less than $1.10; nominal quotation of August 

 13 was $1.15 to $1.25, with a good inquiry from manufacturers, 

 but with actual business light. On August 14 business was 

 transacted at $1.10. like conditions being reported on August 15. 



The break in prices which occurred on .August 17, owing to 

 large arrivals and anticipated large shipments, rendered the 

 market very sensitive. Upriver fine could be purchased at 90 

 cents, as compared with $1.10 on the previous Saturday. In the 

 opinion of prominent manufacturers the prospects of the needed 

 supply of rubber were more promising than had been the case. 



The quotations on August 24 and 25 were 80 to 90 cents and 

 on .\ugust 27, 75 to 80 cents. The latest cable from London 

 (.August 26) quoted Upriver Para at 2s. Ud. (70.95 cents) as 

 compared with 2s. lOd. (68.92 cents) on .August 1. 



The New York market has been relatively bare of advices 

 from Brazil, the government of that country having declared a 

 holiday until .August 15. It was however anticipated by im- 

 porters that Brazilian supplies would come forward according 

 to schedule. The view was entertained in ^I'liie quarters that 



as the production of the Amazon had been dropping off from 

 year to year, it would not entirely cover the wants of American 

 manufacturers, even if they got the whole of it. It was antici- 

 pated that supplies from the Far East and Brazil would come 

 forward in the near future, but the rates of insurance and ex- 

 change rendered operations difficult. 



-According to a report current, a London syndicate is said to 

 have purchased the largest proportion of the London supply 

 with the intention of shipping it to .America. 



It was moreover reported that the Finance Minister of Brazil 

 contemplates dispatching to the United States several vessels 

 carrying rubber from Para, to bring back food and other 

 products. 



NEW YORK MARKET FOR I'L.^NT.\TI0N RUBBER. 



Plantation rubber had closed on July 30 at 54 to 55 cents, but 

 was affected in sympathy with the movement in fine Para, and 

 on -August 5 was nominally $1.08, while for actual business it 

 was reported that 85 to 90 cents would be accepted. On .August 

 8, sales were made at $1.10 to $1.15, while on .August 10, $1.12 

 was paid. This price was appro.ximately maintained on the fol- 

 lowing days. On August 17 the market dropped to 90 cents 

 under the influence of actual and prospective receipts, in con- 

 junction with the market situation. 



On .August 18, in London, first latex pale crepe w-as quoted at 

 about 79 cents c.i.f. New York (while in New Y'ork 80 to 85 

 cents remained the nominal quotation). 



During the last few days the course of plantation prices in 

 New York has been : -August 19, 80 to 85 cents ; 20th, 80 to 85 

 cents; 21st, 80 to 85 cents; 22d, 80 to 85 cents; 24th, 75 cents; 

 25th, 75 cents; 26th, 70 to 75 cents. 



An auction of 4(X) tons plantation took place in London on 

 25th, when quotations were nominal. 



By the latest London cable (.August 26) the quotation for 

 first latex pale crepe was 2s. l]4d. (51.18 cents), as compared 

 with 2s. (48.65 cents) on .August 1. 



The -Antwerp sale of July 23 resulted as follows: 



Percentage of reduc- 

 Offered Sold tion on valuations 



Congo tons 274 162 4;/2 



Plantation 235 223 3 



Consumers had of late been taking up rubber on its arrival, so 

 that stocks were normal. Another auction had been announced 

 for .August 19, which has been postponed sine die, in view of the 

 grave situation in Belgium. The quantities scheduled were 126 

 tons Congo and 56 tons plantation. 



At the -Amsterdam inscription sale of July 28, 157 tons Hevea 

 and 12 tons Ficus were sold at low prices ; the Hevea realizing 

 4 per cent, and the Ficus 10 per cent, below valuations. Of the 

 total of 169 tons, 164 were sold. The date of the next .Amsterdam 

 sale has not yet been fixed. 



In the Rotterdam sale of July 31 wxre included about 325/2 

 tons Hevea and 7 tons Ficus. Owing to the present disturbed 

 situation a date has not yet been fixed for the next sale. 



New York Quot.\tions. 



Follow-ing are the quotations at New York one year ago, one 

 month ago, and -August 29, the current date : 



P.\KA. Sept. L '13. Aug. 1, '14. Aug. 29, '14. 



Islands, fine, new............ 77@78 57@59 65@70 



Islands, fine, old. 58@62 



Upriver, fine, new 88@89 72@73^ 75@80 



Upriver, fine, old 92@ 72@75 



Islands, coarse, new 29@30 27@29 4S@ 



