March i, 1904.] 



THE INDIA RUBBER WORLD 



217 



REVIEW OF THE CRUDE RUBBER MARKET. 



THE prices of rubber maintained an almost continuous 

 high figure during February, and at the close were from 

 2 to 4 cents above the corresponding period in January. 

 The prices advanced during the first week of the 

 month until Upriver Pard was quoted at about 1.05 @ 1.06, 

 and then there was less activity and prices sagged until about 

 the 19th instant, when the same grades were purchasable at 98 

 @ 99. Immediately after the Antwerp auction, however, which 

 was February 24, all prices took a sharp upward turn, and at 

 the close 1.06 @ 1.07 were ruling quotations for fine new Up- 

 river Para, with little or no rubber in the market for sale. 

 Islands rubber closed at about 1.03. 



This strong ending was in spite of the fact that the receipts 

 during the month were unusually large. These increased re- 

 ceipts, however, have not apparently increased visible supplies 

 to any degree, for on the last day of the month it was asserted 

 that only scattering and small lots of Pari could be obtained, 

 and the large importers were taking no orders except from cus- 

 tomers with whom they had contracts. The immense amount 

 of rubber taken by manufacturers was largely on account of 

 extensive purchases by the United States Rubber Co., and 

 some buying by the Rubber Goods Manufacturing Co. There 

 is practically no old rubber in the market. It is not believed 

 that the stocks of the manufacturers, as a rule, are large. 



At the Antwerp sales of Africans, on February 24, prices 

 were on an average of 3 to 4 cents higher than they were last 

 month. There were offered only 370 tons as against 684 tons 

 in January, and the bidding was very active. Almost the en- 

 tire offering was taken by the Europeans, the American idea 

 of prices for the most part, being too low. Lopori ball prime 

 sold 93 @ 94, and other grades proportionately high. 



The arrivals at Manaos, now the most important prime mar- 

 ket for Pard grades, as shown in detail further along in this re- 

 port, are measurably larger than last year, though about the 

 same as in the year before that. The smaller receipts at Ma- 

 naos in the intermediate year were due to the disturbances on 

 the Acre which put a check to shipments from that region. 

 The arrivals at Para thus far this season (including Caucho) 



have been, in tons : 



1900.01. 1901-02. 1902-03. 1903-04. 



To January 31 13.740 16,490 M.&50 17.720 



" February 28 16,030 19,870 19,410 a 20,320 



[a— To February 18, 1904.] 



Reports have been current of purchases on the Amazon, by a 

 European house, amountingto 1500 tons in January — an amount 

 presumably in excess of any normal demand from their cus- 

 tomers. On the other hand, a circular has been received on 

 this side of the Atlantic from an English firm, attributing the 

 rise in rubber to unusually large purchases by an American 

 house, with a view to preventing the heavy receipts at Para 

 from leading to a decline in prices. Such conflicting reports 

 usually prevail on the two sides of the Atlantic, and the prob- 

 lem of what really makes the price of Para rubber continues 

 unsolved. On this subject, however, the following statement, 

 by a New York rubber merchant, may be quoted : 



" Rubber is now selling at Pard at a price equal practically to 

 the ruling quotations at New York. To move it here would 

 involve the cost of freight and insurance, and the shrinkage in 

 weight of rubber. Yet rubber is being offered here for future 

 delivery at a very slight advance over spot rates, which means 

 that the sellers stand to lose in the event of high prices being 



maintained. And herein is an explanation of the extreme high 

 prices of last September. There was a very large 'short ' in- 

 terest at the time, and visible supplies declined to an unusually 

 low figure. The result was that when sellers on contracts came 

 to make deliveries, the supplies were so closely controlled as to 

 force them to pay roundly for the rubber they required." 



Which would indicate that, if rubber prices at any time are a 

 result of speculative movements, it may be due to efforts to 

 depress the market as well as to bring about an advance un- 

 warranted by the statistical position. 



Following is a statement of prices of Para grades, one year 

 ago, one month ago. and on February 29 — the current date: 



PARA. Mar. 1. '03. Feb. I, '04. Feb. 29 



Islands, fine, new 8.r@85 99(8100 102(8103 



Islands, fine, old 9o@ijl @ © 



Upriver, fine, new 89(890 104(8105 106(8107 



Upriver, fine, old 94@95 None here 108(8109 



Islands, coarse, new 52@53 64(865 66(867 



Islands, coarse, old (8 None here None here 



Upriver, coarse, new 7i(«73 83® 84 83(884 



Upriver, coarse, old (8 85® 86 85(8 86 



Caucho (Peruvian) sheet 53@54 64(865 66(867 



Caucho (Peruvian) ball &5@66 75(8 76 76® 77 



The market for other sorts in New York on which the ad- 

 vance has also been very material, is as follows : 



AFRICAN. CENTRALS. 



Sierra Leone, istqualit)92 (893 Esmeralda, sausage. . .75 (876 



Massai, red 92 (893 Guayaquil, strip 67 (868 



Benguella 74 (875 Nicaragua, scrap .. . .74 ©75 



Cameroon ball 66 ©67 Panama, slab 57 ©58 



Accraflake 36 (837 Mexican, scrap 73 @7 4 



Accra buttons None here Mexican, slab 54 ©55 



Lopori ball, prime... 94 (895 Mangabeira, sheet. .. .57 @58 



Lopori strip, prime 85 (886 EAST INDIAN. 



Ikelemba 94 ©95 Assam 81 ©82 



Madagascar, pinky 84 ©85 Borneo @ 



Late Para cables quote : 



Per Kilo. 



Islands, fine 6$4O0 Upriver, fine. . . 



Islands, coarse 3$6oo Upriver, coarse 



Exchange, I2^§</. 

 Last Manaos advices : 



Per Kilo. 



• 7$35o 

 ■ 5*450 



Upriver, fine. 



..7$200 Upriver, coarse. 

 Exchange, I2j 7 5 </. 



5$ 1 00 



NEW YORK RUBBER PRICES FOR JANUARY (NEW RUBBER). 

 1904. 



Upriver, fine g4@i05 



Upriver, coarse ... 77© 83 



Islands, fine. 90(8102 



Islands, coarse 56© 65 



Cameta, coarse 55© 64 



Rubber Scrap Prices. 



New York quotations— prices paid by consumers for car- 

 load lots— in cents per pound ; again no change of importance 

 to be noted : 



Old Rubber Boots and Shoes— Domestic b% © 7 



Do —Foreign. b% © b% 



Pneumatic Bicycle Tires 4 @ 4}i 



Solid Rubber Wagon and Carriage Tires 7 



White Trimmed Rubber. . . i% @ 9 



Heavy Black Rubber 4% 



Air Brake Hose 2% © 2% 



Fire and Large Hose 2 



Garden Hose 1 % 



Matting I 



