The Prime Minister's announce ment caused little excitement the local market and there was certainly no panic, There ix reason why there should be a panic, There is no settlement near and commitments for June are very small—probably not more than Tia, 70,000, The majority of holders, therefore, rightly consider it worth while to continue to hold. In other words, the proposed removal of re+ striction was not entirely unexpected although, probably, not. quite 30 rapidly. The loss of capital ocean sioned locally by the drop in quota~ tions is estimated at roughly Tls. 5,000,000 or a little more than 16 per cent, of the total par value of Sssued capital, A calculation of the total par value of issued capital (shares) shows a figure of about Tis, 20,000,000.
The Prime Minister's statement occasioned considerable comment and discussion in the House of Com= mons and one member forecasted that many estates must close and that the consequent unemployment would be a menace to the Governe ment, Another member is reported. as saying that the control of the industry will ultimately pass into the hands of America, Opinions on. the future of rubber, of cours must be many and varied.
The total amount of business done in New York was alaest 9,000 tons which eclipses all records in the history of the exchange. The quotation in New York yesterday was 21 cents which is less than the cost of production and there can he little doubt but that reaction will act in after the effect of the exe pected bombshell has passed, Tndeed, markets are already steadying, Private cables from London naturally convey the news that the share market is demoralized.—Tt could not be otherwise when' the portent of the Premier's brief statement is realized, Singapore raw material quotation Aropped from 464 to 321—14 cents. No doubt a considerable drop but Inter advices state that the market is steady after the decline, London, closing buyers quotation was -/10% very weak, New York 2. cents easy—6 cents down, Locally small quantities of shares changed hands as follows:—Tanah Merahs Tis. C. 75, 0.85 Junet Tebong Tis, 1.60 June: Chemor Tls. 1.65 and Tig, 1.50 cash: Buta Tis, 080 cash: Sonwang Tls. 1.55 cash? Repah Tis, 0.92} cash: Anglo Java, Tis, 6.00" Sept. Tls. 625 cash: Kroewoek Tia, 1.70 cash, New York, Apr. 6:—The Danish Government $55,000,000 4} per cent. loan, taken over at a price of 93,037 by an American syndicate, has been Constantinorim, Apr. 9:—The National Assembly at Angora haa. unanimously adopted the Bill separating the Church from tg. State.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.