BOOM IN RUBBER

New Zealand Herald, Volume LXXIV, Issue 22629, 18 January 1937, Page 5

BOOM IN RUBBER

SINGAPORE CONDITIONS VALUES RISE SHARPLY HIGHEST FOR SEVEN YEARS [kku.m ouk own coiutKsi'OMn.vr] SINGAPORE, DPI-. 28 There was great excitement iu the Singapore rubber market to-day, when business officially opened alter lour days of Christmas holidays. Spot rubber quotations rose sharply to about 10 cents per lb, compared with an average price ol' just under 10 cents in IiKJI, and just oxer 10 cents in 193,'1. The averages for liKl-l and 1 !)•')•") was about 20 cents. To-day's rubber share quotations also were higher than for seven years. To-day's boom conditions in Singapore followed the lead from London, whero yesterday many rubber shares were quoted at the highest prices since 1027, the peak year of the last boom. There is very little spot rubber available. 11 übber shares are booming and there are buyers for everything offering at prices which arc advancing. Sellers havo exaggerated ideas of the value of their holdings and are asking prices which arc even higher in proportion to the advances made in the commodity. The increase in the quota of rubber permitted by the International Regulation Committee is not likely to have much effect on the price, as it is anticipated that the full amount of the quota will not bo available until well on in 19,57.

is as follows: Present Price I ar London, pound .. '-M J <>■<«•"• [[[]'[ Australia, pound .. 10 10.M - ■ Fiji, pound . .. "•<><> V'-V. New York, dollar .. r> <>.<>._> -1 1- ; | Montreal, dollar .. •> JM. ; » ( ' Paris, franc . .. () ; ,7 -\ Berlin, rrielismark, . « 1 Coprnhnßen, krone . 1 ( ' ( 'rYukohama, yea .. I <>•'•' - u " &

Singapore rubber dealers view with concern .the increasing tendency for rubber companies in England to make forward contracts lor direct shipment from Malaya fco New York. Most of this rubber is sold direct to manufacturers and becomes "dead" rubber. Local brokers are deriving a certain amount of satisfaction, however, from the fact that most of these contracts are for delivery over the whole of J and have been made at a price considerably below rates ruling to-day. .Japanese interests seem to have anticipated the lisc in the rubber price, as they took deliveries of the commodity last month and have made I a rice purchases on the Singapore market in December. FOREIGN EXCHANGES MINOR FLUCTUATIONS (Received January 37, r>.."> p.m.) British Wireless RUGBY, Jan. I<> The following rates on foreign exchanges were current yesterday, compared with the cabled quotations on January 14 and par:

(Received January 17, 5.5 p.m.) LONDON, Jan. Hi On tlio foreign exchange market today the following quotations ruled: j New York, 4.91'/o dollars; Paris 105/ja S francs; Uatavia, 8.1)1 guilders. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency basis, subject to alteration without notice: — Sellirip: United Slates Canada Oil demand . . U.tW% T.T 3.! M% a.u:i?'e' Buying: On demand . . 3.OSVa 3.95/4 Following are the latest rates for pur. chasos and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are Subject to alteration without notice:

N.Z. pence to— Hongkong, doi. 18 13-10 18 0-32 18.>1-01 India, rupee . 2211-10 22% 22 <I3-0I Ceylon, rupee . 22 11-10 22/« 2-M3-01 Japan, yen .. 17 33-01 ~~ Shanghai, doi. 18.V10 1, _.>-3_ 18 Singapore, do!. 35,-32 ~4 11-Ot 3.» 13-01 Chefoo, doi. . . 182i)-0l 1 , 2.>-32 The fosfc in New Zealand currency of the pound sterling, niul of the principal overseas units, on the latest quotations,

CUSTOMS EXCHANGE RATES Hates of exehango ruling at tlm announced dates of departure o£ vessels named are shown in tho following table. They are .subject to confirmation bv the Customs Department when tho exact time of departure is learned. Finally declared rates arc marked : \ottiiifc?l. Canada, dollars • - • • KortliuinlnTl intl, America, dollars .. 4.. H NEW COMPANIES NO AUCKLAND REGISTRATIONS Although tho companies oflieo has been open during tliJj psisfc two weeks, not one new pompany lias yet been registered in Auckland this year. It was expected that with the reopening of solicitors' offices last week there would be some companies' papers submitted for registration, but few came forward and none passed complete approval. Inquiries have been made, however, and it is probable that this week will witness the first registrations for the new year. SOUTHERN REGISTRATION Registration of tho following private company is contained in the Mercantile Gazette: — Herron's, Limited (Christchurcli). bakers. Capital: £-1000 into. £1 shares. Subscribers: Timaru —.J. S. Herron, 3750; M. A. Herron, 100; J. S. Lee, ")0; A. U. Hitchcox, 50; H. E. C. Dass, 50. BRITISH WAR LOAN 13ritisli Wireless RUGBY, Jan. 1") War loan, 3} per cent, is quoted today at €lO5 2s 6d, compared with £lO5 os yesterday.

Jan. 15 Jan. 11 Par Montreal, do!... •1. New York, dol. •1.01% •l.ill •l.sc Paris, fr. .105* , 3 1 (I.v ' rj 1 (15.00 Brussels, belga. . 1 I 1 1 ■_>!). 11 ;i5.oo Geneva, fr. •ji.asVa l ,:is "J5.'_"J Amsterdam, gr. H.OUJi S.'K! rj.io Milan, lire ! «'// 00 Berlin, r.m. i ti.-ja'A I'J.'Jl •jo. lit Stockholm, kr... J!).:{(('a 18.150 Copenhagen, kr. 'i'JIO !>•_'. Ill IS. 150 Oslo, kr. moo .1 !•!»() IS. 150 Vienna, sch. .. 120 / 2 •J(>' • 34.5S5 Prague, kr. III MO'; KM.'25 Helsingfors, mark i lou.u.'J Madrid, pe*. . . 55 + 55+ '25.'2'21 Lisbon, escu. . . 1 HI 1 ',, i in 3 /,. 1 10 Athens, dr. r.ir 1 j' 517'- 3 * 375.00 Bucharest, lei..". (iTi i* (>70* Sl.'i.O Rio de Janeiro, m. ■11,(1* •1'/id* 5.S!)0d Montevideo, dol. :i:i 7 „d 51(1 Bombay, rupee. . :is%.,d is"' , ,d lsd Shanghai, dol.. . 1 r d 1 t 1 ,d — Hongkong, dol. 1 » ,5 /,«d 1 1'Vied — Yokohama, yen I 1 Mild 1 Id •ji.nsd Batavia, gr. .. K.ii'JVi J'2.10 Belgrade, din... i ;s •jia •27<>.:n Warsaw, zloty.. •j<i 4.'J.3S ■(Nominal. 'Sellers.

To i'l N.Z. T.T. On Demand Currency Selling Buying Selling U.S.A., dol. Ji.JKlVj 3.08% 3.01 Canada, dol. .. ;).03 7 „ 3.1)8% 3.01% Austria, sell. . •_!<>.«><! — 20.0H Belgium, belga 23.252 — 23.203 Czecho'vak ia, cr. 112.-0 — 112.25 Denmark, kr. . I 7.S1HJ 18.203 . 17.003 France, fr. . . 84.23 — 81.27 Germany, r.m. s».Ta:t" — 0.738 Holland, fl. .. 7.157 — 7.101 Italy, liro 7-1.71 — • 71.70 Java, fl. 7.113 — 7.117 Norway, kr. ., ir>.8!H 10.2-11 15.001 Sweden, kr. .. 15.480 15.814 15.400 Switzerland, fr. 17.OS!) — 17.001 Noumea, fr. . . 82.80 — 82.92 Papeete, fi. .. 83.01 — 83.07