BOOM IN RUBBER

Otago Daily Times, Issue 19532, 15 July 1925, Page 7

BOOM IN RUBBER

KEEN DEMAND FOR SHARES. "BUT ANYTHING' AVAILABLE." Press Association—By Telegraph—Copyright. LONDON, July 13. (Received July 14, at 5.5 p.m.) "Buy anything available" appeared to be the general order in the rubber market to-day. There was often a difference of half-a-crown between buying and selling ■ orders, whereas a few days ago the margin was only sixpence. The shortage of shares compelled buyers to join in a wild rush to purchase rubber scrip, which at present is dominating the Stock Exchange. Actual rubber at one time touched and closed at 52. Mr W. G. A. Ormsby-Gore (UnderSecretary for the Colonies) replying to a question in the House of Comunoi.3; said that the Colonial Office *ad not prepared to suggest to the Malay Peninsula authorities a reconsideration of the export control ordinano» under which a greater quantity of rubber would be released automatically on August 1, but if prices remained abnormal the matter might perhaps bo reviewed.—A. and N.Z. Cable. The following cablegram from New York recently appeared in the Daily Mail: An Associated Press despatch circulated throughout the whole of America states that inquiries now being concluded by the Department of Commerce indicate that extra profits from one of the sources of the British wealth—the rubber plantations of the East Indies—will be sufficient to cover all of that nation's future repayment of its war debts to the United States. It is added that American imports of raw rubber, which amounted to £37,000,000 in 1924, will probably amount this year to £80,000,000. In his report Mr Hoover predicts a world shortage of rubber three years hence, and he suggests the need for some arrangement be- | tween the industries of the world to bring about an abandonment of combinations in restraint of international trade.