To the Editor of the "NontH-CHINA DAILY News."
Sim—At the beginning of 1923 Rubber was. about 1/6 London and 65 cents Singapore, and in many instances the quotations in the Shanghai Stock Exchange official ist were higher than they are to-Gay with rubber at 2/7 and nearly $1 per pound!
fay Inst year the price had 4allen to 10d. and 31 celite, and at that time if anyone bad ventured to predict that the price of rubber would reach its present level, most lof the share-brokers would' have! told them they were mad, but they [would also have told them that in the event of such a rise taking place, the shares would climb to prices that would at leser enable holders to realize a handsome profit.
In your leader of Thursday you make mo reference to the well known fact that the Shanghai share market is largely a professional gambler's market in the hands of a very small mumber of operators. The explanation of the present situation in my opinion is that the operators referred to are out of the market for the time being, evidently playing a waiting The solution ie dividends, dividends, and again dividends. Of the 40 local rubber companies, 30 are managed by two firms with not more than about 12 directors for the lot. I appeal to these gentlemen to refer back to their various speeches at their annual meetings, Jand give the weary share-holders. the full benefit of the handsome profits which, as a result of the Stevenson Act, they are now Tam, ete
Text read from the printed page and cleaned; old type leaves the occasional error.