Now to trace the course of the rubber market, and to see how the local share-market reacted to the changing situation, and at the same time how for quite a con: siderable period it failed to react. Taking first of all the price of the raw material, it is found that at the start of the year, January 2 to be precise, a quotation of 68 cents was recorded in Singapore, and 1/1k in London, Thereafter occur: red a drop to 58 cents. The first steady rise in the rubber market commenced about the first week in February, and steadily advancing quotations ensued until by the beginning of April the price had Teached 74 cents, There were minor fluc-
We are indebted to the rubber department of Messrs. A. R. Burkill Sons for the accompanying graph of raw rubber prices since the middle of 1922. The prices given are in Straits dollar cents per Wb. and are those reached at the weekly auctions in Singapore. The lowest point touched during the period covered by this graph was Be cents in September, 1922, and the highest 180 cents, in November, 1925, tuations during this month, but then, beginning in May a further steady rise took Place, bringing the price up to 118 gents, A slight setback ensued, but this was momentary, and from the third week in June prices soared and reached 178 Singapore cents per Ib. A position such as this was bound to create a certain amount of uneasiness, for while it was certain that an additional allowances of 10 per cent. on Production would be brought into force under the Stevenson Scheme, there was also a hope in some quarters that such a rapid rise might lead to the total abolition of restriction. The result was an immediate decline in prices, and by the middle of August the rate had dropped back to
Text read from the printed page and cleaned; old type leaves the occasional error.