January 1, 1912.] 



THE INDIA RUBBER WORLD 



181 



of scrip becoming worthless, as in the "Great Slump" time, in- 

 stead of remaining steady at quite a decent, all-round figure — ay, 

 €ven at a really good price, seeing that the plantation rubber in- 

 dustry is still barely out of its infancy. 



Apparently, the public are getting back their faith in this in- 

 •dustry. Seeing how completely their confidence in it was shaken 

 — although their own folly was mainly responsible for such a 

 catastrophe — is it not rather marvelous that they should already 

 be showing such renewed trust in plantation rubber? Is it not 

 a good sign that they have stopped glutting the market with 

 shares, and so giving a few people, who are thoroughly in the 

 "know," the chance of buying up all the good ones at a next-to- 

 nothing price? For what can this general hanging-on to rubber 

 shares mean except a renewal of faith ? Many people must be 

 making sacrifices to keep their stock. And why? Certainly not 

 because they think it will depreciate. Rather they must be argu- 

 ing, from the general knowledge they are gradually picking up 

 about the whole situation as between wild and cultivated rubber, 

 that there are likely to be more firework interludes before the 

 critical battle takes place; or the speculative attitude of outsiders 

 to the plantation rubber industry may at last be giving place to 

 the more healthy feeling that it has now won the right to be 

 looked upon as an investment. In any case, the public seem to 

 be shaking off their fit of the blues over rubber. It is not, there- 

 fore, bad policy for the professional share dealers to be gloomy 

 during such an important period of convalescence for their clients ? 



As a relief to the nothing-doing-in-general atmosphere of the 

 rubber share market, there have been a few noteworthy activities. 

 The best rise of the month has been in Kuala Lumpurs (iSf^- 

 £6^). Evidently the public have spotted the good points in this 

 company's latest report, although they had to take their chance 

 of being overshadowed by a decrease of profit on the year's out- 

 put, as compared with the previous year's returns. The most sen- 

 sational drop has been in Tangkahs. In view of the startling sug- 

 gestion for raising further capital that has been proposed by the 

 directors of this company, it is not at all surprising that the shares 

 should have fallen in one day from ll/3d to 2/6d. This scheme 

 has been so widely discussed that there is no need for me even to 

 outline it. Suffice to say that the proposed Irredeemable Second 

 Debentures are very expensive straws with which to invite the 

 shareholders to save themselves. The most auspicious flotation 

 has been Pegoh, Limited, with property in Malacca. The shares 

 allocated for public issue were offered for subscription at a pre- 

 mium of 10/; they were eagerly taken up, and have since risen 

 a further 8/9d. — quite a record state of affairs in these days. 

 Linggis have hardened slightly, but the attitude of the market 

 towards them is shown by the fact that a call can still be obtained 

 on them for l/6d., at the current price, up to the end of the 

 year. 



Prices have varied but little at the auctions. Hard Para has 

 fluctuated during the last month between 4/3d. and 4/5j4d. The 

 highest prices fetched by plantation rubber during this period has 

 been between 4/7d. and 4/1054d. Judging by the latest sales, 

 business is inclined to be more brisk, and prices have a tendency 

 to harden. The demand still favors plantation grades. At the 

 last fortnightly sales held at the London Commercial Sale Rooms, 

 Mincing Lane, E. C, the record quantity of 545 tons of plantation 

 rubber was offered. The best price was made by Pale Crepe, 

 which sold up to 4/10V4d. Lanadron Block came next, fetching 

 4/9j<)d; then Highland Smoked Sheets at 4/9^^d, and Vallam- 

 brosa Smoked Sheets at 4/9Md, A general fall of 2d. in smoked 

 sheets was a feature of the sales. 



SOME RUBBER INTERESTS IN EUROPE. 



NEW ANTWERP-BRAZIL STEAM LINE. 



According to Brussels advices, a new line of steamers (out- 

 side the Conference) is about to be established between Antwerp 

 and Brazilian ports by the firm of Siebert & Co. It is under- 

 stood that the firm of Horn & Co., Hamburg, will be associated 

 in the enterprise. 



THE LONDON CYCLE AND MOTORCYCLE EXHIBITION. 



■"PHE management certainly has every reason to feel gratified 

 •*• at the success of the Second International Cycle and Mo- 

 torcycle Exhibition held in Olympia, London, from November 20 

 to 25. It was a success from every standpoint, the number of 

 exhibitors, the size of the exhibition and the number of visitors 

 being much larger than a year ago. 



The exhibition included everything connected with the cycle 

 and motorcycle manufacturing trade. Some idea of the number 

 of exhibitors may be obtained from the fact that the exhibition 

 catalogue comprised 256 pages. 



.^mong the exhibitors were the B. F. Goodrich Co., Ltd., 

 which made a fine display of motorcycle covers, endless tubes, 

 patches, horn bulbs, lamp tubing, and cycle tubes, besides various 

 other accessories. 



The North British Rubber Co., Ltd., of Edinburgh, also had 

 a most interesting exhibit, including the famous "Clincher" 

 cycle and motorcycle tires, showing the "Featherweight," the 

 "Carrier" and the "Dreadnought'' brands. 



An interesting feature of the exhibition was the excellent 

 programme of music rendered at intervals during the afternoon 

 and evening, from 2 to 9.45 p. m., by the Coldstream Guards 

 Band. 



THE DITNLOP RUBBER CO.'S REPORT. 



More than usual interest attaches to the report of the Dunlop 

 Rubber Co., Ltd., for the business year ending August 31, last 

 Reference is made to the abnormal variations which had again 

 taken place in the price of rubber, ranging from the equivalent 

 of $2.01 on September 1, 1910, to $1.13K' on August 31, 1911. It 

 is remarked that the latter figure may be regarded as approaching 

 the normal conditions of 1907 and 1908, the two years previous 

 to the rubber boom ; the average prices having equaled in the 

 former year $1.07}^ and in the latter $1.01i^. The view is 

 expressed that fluctuations on the recent scale are hardly likely to 

 occur again ; the directors being of opinion that the company's 

 business will now resume its normal course. 



Owing to having had to work up high priced rubber in the 

 production of reserve stock, the trading profits of the company 

 were adversely affected during the business year 1910-1911, by the 

 sale of this stock upon a rapidly falling raw rubber market. This 

 difficulty having been anticipated by the creation of a "Rubber 

 Fluctuation Reserve" equaling $500,000, the funds at the disposal 

 of the directors are sufficient to pay in dividends the same amount 

 as last year. 



DISTINCTION FOR A RUBBER MERCHANT. 



"La Metropole," of Antwerp, calls attention to the fact that 

 the King of Belgium, in recognition of the services rendered by 

 him to the cause of Belgian colonization, has created M. Willy 

 Van de Velde a Chevalier of the Order of Leopold. This gentle- 

 man has long been a prominent figure in the commercial life 

 of Antwerp, being president of the company which acquired the 

 business of the old firm of L. & W. Van de Velde, of that city. 

 He is likewise identified with various companies operating in 

 Katanga and the eastern portion of Belgian Congo. 



CHANGE IN AN AMSTERDAM RUBBER FIRM. 



F. JoosTEN, the well-known Amsterdam rubber broker, an- 

 nounces that Ernest Janssen has joined him as partner, the 

 style of the new firm being Joosten & Janssen. 



They are distributing a placard giving the dates of the 1912 

 Amsterdam auctions, which are : January 19, February 16, 

 March IS, April 12, May 10, June 21, July 19, September 20, 

 October 18, November 15 and December 11. Catalogues will 

 in each case be issued fifteen days previous to the above dates ; 

 entries closing five days earlier still. 



