Boston, Sept. 14.
Speaking to the Boston Chamber of Commerce, Mr. Roger Babson, the noted economist, to-day warned that "the chances ai to four that we are headed towards a twenty cent dollar. repudiation" may be means of wiping out the huge public debts, he said.
"However, for the next year or two at least, the favorable factors Some recovery from its recent apathy has been witnessed in the Rubber market during the past few days. Contrary to the view held in some quarters, the publication of Malayan shipments for July had no more than a slight and short-lived effect on prices, even though these figures exceeded the highest estimates. It would appear from the action of markets that there has been a fair volume of short covering by dealers, together with some fresh purchasing by the trade generally. "This de-magd. however, is being fairly readily met, there being free offerings of cif. rubber in both New York and London. Buyers in Singapore are finding sellers more reluctant.
NEI July export figures are awaited with considerable interest.
Latest quotations to hand this morning are:—Spot. 301% cents up 1 cent london Sia. up ted.
New York b, U.S.A. cents up U.S.A. cent.
Malayan shipments during July, amounted to 72,704 tons as against 54,809 tons for the previous month and 53,114 tons for the corresponding period last year.
Imports into Malaya during July, compared with the previous month and the corresponding period of 1936, were:—
July June—July is? 1937 i936 Dry 19488 17534 13,632 Wet (Estimated Dry Weight) 6014—390 5408 Total Dry tons) 28400 23,614 19038
Stocks in the United Kingdom now stand at 42,056 tons, which show a further small increase of 274 tons.
At the Auctions held yesterday, there was a good demand for all grades. Of 805 tons catalogued, 653 tons were offered and 601 tons sold.
The following is the course of values:—
Stg. Equivalent Plb, in In Spore Cases Landed
Text read from the printed page and cleaned; old type leaves the occasional error.