and Magazine of the Ceylon Agricultural Society.— November, 1911. 483 



guarantee is given by the Stock Exchange, and 

 differences are paid at the fortnightly Settle- 

 ments. Should the margin or deposit held by 

 the Clearing House become exhausted, owing to 

 a continued rise or fall in the price of sugar, the 

 Clearing House would at once demand a further 

 deposit from either the buyer or the seller, as 

 the case might be. By these methods of daily 

 settlement of differences, supervised by the 

 Clearing House, the p isition is regulated, and 

 it has been stated at meetings of the Clearing 

 House that during the twenty-three years it has 

 been established the Company has never made 

 a loss, the additional deposits having always 

 been forthcoming when required Questions of 

 interest and fees for arbitration on quality of 

 sugar or coffee delivered areincluded in the rules 

 of the Clearing House. 



The London Produce Clearing House, Ltd., 

 has had a very successful career, and its business 

 has, we are informed, shown further very con- 

 siderable development during the current year. 

 Its coffee business to date has been double what 

 it was for the corresponding period of last year, 

 owing to the rise in price of that commodity. 

 For the whole of 1910 the contracts regie - 

 tered by the Compauy in Santos coffee 

 covered 2,6 , 22,250 bags. The Company's sugar 

 turnover up to the end of September had rea- 

 ched the enormous total of 31,473,500 bags, or 

 over 100,000 bags more than for the whole of 

 1910. Here, again, the fluctuations in prices 

 has led to increased business m "futures." This 

 year also the Company has extended its opera- 

 tions to pepper, which, however, is, of course, 

 only a small item compared with the coffee and 

 sugar business. The important international 

 relations which it enjoys has had a great deal to 

 with the development of the Company's 

 business in sugar, and it is quite possible that 

 these will aid it in the proposed extension of its 

 business to rubber. -Financial Times, Oct. 20 



Guaranteed Contract Business to Start 



Next Month. 

 With regard to the proposed extension of the 

 business of guaranteeing terminal contracts in 

 produce carried on by the London Produce 

 Clearing House so as to include rubber, the first 

 intimation of which we were able to give in our 

 issue of 19th instant, we understand that it has 

 now been definitely decided to make a com- 

 mencement with the new business early in No- 

 vember. A circular setting forth the terms upon 

 which the business will be conducted will be 

 issued next week by the London Produce Clear- 

 ing House. 



There appears to be a considerable demand 

 here for facilities to enter into guaranteed ter- 

 minal contracts in rubber, but the London mar- 

 ket is not yet properly organised for this busi- 

 ness, so that, we are given to understand, in the 

 meantime, and in order to avoid any delay in 

 making a commencement, the Antwerp rules are 

 to be taken as the basis for operations. We may 

 point out that a complete organisation exists in 

 Antwerp for guaranteed terminal contracts in 

 rubber.— Financial Times, Oct. 27. 



AMENDED RULES GOVERNING CON- 

 TRACTS FOR PLANTATION RUBBER. 



The following rules and regulations governing 

 contracts for plantation rubber sold under the 

 General Produce Brokers' Association of London 

 Rubber Rules were agreed to at a meeting of 

 the trade at the Commercial Sale Rooms, Min- 

 cing Lane, on Tuesday. 



Prompt. — Prompt Saturday fortnight from 

 dale of tale or tender. Sales or tenders dated 

 on Saturday to be prompt that day fortnight. 

 Draft \ per cent. Discount 2\ per cent. In- 

 terest at 5 per cent per annum on all pro-pay- 

 ments. The goods are at the risk of sellers 

 (to the amount of the contract value only) until 

 the prompt day, or delivery of the rubber from 

 the warehouse before that day. 



Weighing. — Weighing at the option of the 

 seller at any time between the Wednesday week 

 preceding prompt and the Thursday before 

 prompt day, both days inclusive. 



Clause I. — In contracts of five tons or over 

 buyers shall have the option of rejecting any 

 tender of less than«s*ie ton, and in contracts of 

 under five tons any tender of less than halfton, 

 except in each caso in completion of a contract. 



When sold for monthly deliveries or ship- 

 ment each month or specified part of a month's 

 delivery or shipment to be treated aa a sepa- 

 rate contract. 



Clause II.— On contracts for rubber sold under 

 the standard description of "first Latex Hevea 

 Brasiliensis Plantation Rubber of fair average 

 quality in sheet and/or biscuit and/or crepe 

 form as at present prepared " for future deli- 

 very, the rubber, when tendered, must be ready 

 for delivery in sound order and condition at 

 one of the customary docks or wharves. The 

 tender to be received by the first buyer before 

 3-30 o'clock (11-30 o'clock on Saturdays), not 

 later than the fifth working day before the 

 end of the period of delivery (excepting only 

 in the case hereafter mentioned), and the 

 first and each subsequent buyer must pass same 

 on with due despatch, but iu any case within 

 \\ hours of receipt (tenders received between 

 12-30 and 1-30 must be received by the next 

 buyer before 3 p.m.) but in no case later than 5 

 o'clock on the last working day of the period of 

 delivery (1 p.m. on Saturdays). For the purpose 

 of this clause a day is to be taken as commencing 

 at 10 a. m. and ending at 5 p.m. (Saturdays 1 p.m.) 

 and for the purpose of this rule the buyer shall 

 be represented by the selling broker. 



For any tender received after 1 p.m. on Satur- 

 days the prompt to be exact 14 days from the 

 following Monday, and during further circula- 

 tion of the tender prompt to be exact 14 days 

 from the date of such subsequent tender is 

 received, but weighing in all cases to take place 

 as "from original tender date. 



All first tenders must have a time form 

 attached which must be passed on with all 

 subsequent tenders, the time of receipt being 

 marked by each person receiving it. If any 

 intermediate buyer divides a tender he must 

 make out duplicates of time form and pass 

 on a copy with each part of the divided tender. 

 Any party failing to re-tender within the time6 

 specified as above becomes a first seller, 



