'One of the most important features of 1925 in connexion with the rubber section of the' Stock Exchange, is that although London was beginning to take a tremendous interest in plantation shares in the late spring, Shanghat practically stood aloof. So while about the middle of summer people in England were scrambling for shares, those in Shanghai were quiescent... The position was that the rubber industry was not upon an absolute statistical basis, that in previous years rubber had flattered only to disappoint, and—the most important point of all—tho holding of. rubber shares here was too big for the foreign community to carry suecessfully, During the summer no Chinese money came into the market, and, as a result of the small amount of free cash which the foreign community could afford to use for the purchase of shares, little improvement, in come parison with other places could Seen. Real confidence was lacking until about September, but then signs were apparent that the market was working definitely for a rise, and a slow improvement occurred week by week. Then Chinese speculators began to realize the situation, and at the beginning of November prices increased daily by leaps and bounds. This continued until the second "week in December, when both the price of the raw mater: ial and of plantation shares fell back,
Text read from the printed page and cleaned; old type leaves the occasional error.