Bearish Interpretation of Premier's Announcement of Investigation into Rubber Restriction New York, Feb, 9.
Very lively scenes were to be witnessed on the Rubber Exchange today due to the bearish interpretation of the British Premier's Announcement of a committee to investigate the restriction plan.
An avalanche of selling resulted. Prices of near futures dropped 3 ents. Transactions totalled 2,681 lots, which is a record—Reuter.
London, Feb, 9.
The announcement of an inquiry into the Rubber Restriction Scheme came as a complete surprise.
The Mincing Lane market was disorganized this morning. The feash price slumped to 1/4id. As compared with 1534. yesterday evening.
{In the House of Commons to-lay, Mr. Frank Nelson drew attention to the slump in the price of raw rubber as a Fesult of the announce ment regarding the inquiry into the Restriction Scheme and. asked the Prime Minister to take steps to expedite the inguiry.
The Prime Minister in reply emphasized the fact that the Committee of Civil Research must obtain a considerable volume of Information before it reported to the Government. Subject to that necessity, he gave an assurance that no time would be lost.
The Prime Minister evidence would be taken in Malaya,
Text read from the printed page and cleaned; old type leaves the occasional error.