The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-12-25
RUBB[RPLbNTATION
TO PAY DIVIDENDS
Pahanu and Tanlong OIok Plan
tations Have Signed Six
Months Contract

1 M. A. Cheek, visiting agent Of IN,
lWaterhOuae Company's rubber planfa
tions in the Malay Free States, arrive,
from Singapore on the Mongolia. Ii,
will remain in Honolulu several weeks
Mr.. Cheek Is enthusiasts IN regard e
!, the rubber outlook and prospects.
Fred r. p Waterhousc stated yes
terday that the November output Of
| pahanq was 1000 pounds. This make,
the total production since January FIRST
| 1872 ,295 pounds. The Yield for 1918 FOL
the same period was 1929 pounds.
The November output ut Tanjonq
0lok was 1900 pounds, md for the
eleven months 80, $50 pounds, compared
with l30,085 pounds In Job.
Forward Sales Contracts
The Waterhouse Company has made
a contract for the safe Of the entire
crop of these two plantations 10 June
30, 1918, at AK cents gold, SINGAPORE
delivery, to the Goodrich Rubber Com.
pany. The purchasers assume all risk Of
delivery TO the American market when
bottoms are available. This contract
price is an advance over their last war.
time contract Of 1886 cents. Ten tons
Of October and November product have
been sold at 45 centa
Experts viows on Rubber Market 4
IN an interview yesterday Mr.. Check
said:
"Thc price Of rubber today Is de-
pendent on local conditions in different
parts Of the world, as we'll as on the
European war. At the present moment
IL Is greatly affected BY The embargo
Of the British government preventing
its expectation from imperial ports.
Were It not for this embargo, there il
every reason TO believe that with the
restrictions and difficulties Of securing
the product at present obtaining (in,
such case not operative), the price
Of rubber would be higher than il is.
Current New York offers are rs
cents gold rer pound, and some large
manufacturers are buying at that figl
ure, thinking there is little prospect OF
relief from England in the near future.
Oilers In Amsterdam run as high as D
shillings per pound. On account Of the
action Of the British government this
demand cannot be satisfied.
Reasons for Embargo
stThe object Of the embargo appears
70 be the securing Of a certainty Of
upplies for the Allies and preventing
Germany, through any channel secnr.
ing this most necessary article. and
there are no grounds for believing that
this will result in the accumulation OF
q surplus stock in London: rather. II
appears, there Is difficulty in getting
enough hglfy
The policy Of the British govern.
ment would appear to be the securing
OF rubber at as reasonable price as
possible. without too greatly curtailing
the revenues derived from rubber in
their colonies, and preventing other
parties getting the rubber unless they
have a shortage Of supplies Conse-
quently the ruling price in London Is
now 2.2 per pound and may hue-
tuate a penny or two either side Of this
from time to time until the embargo Is
War Risks Delay shipments X
yThe price In Singapore (which is a
British possession naturally follows
the London price; but the cost Of shin.
ments from Singapore to London ia nat.
nraily higher than IL was before the
war, owing 10 war risks and the natural
In chipping arising out OF
the situation. 1t will be seen, however,
that the Singapore price Of $40 Der
picul, or Az cents gold per pound, is
IS near the London price (less charges)
p could be expected under the circum.
stances prevailing. 4
Dividends Certain
z Pahang and Tapjong OIok have
both sold their outputs for the first half
year on the basis Of AN cents per
bound for No. J., delivered 10 Singapore.
On = basis Of an estimated output OF
10000 pounds, the profits will be $50, Z.
900 for TanionR 0lok, and Pahang
should do little better than this in
both output and profit. @
As the rubber is delivered and paid
for IN Singapore, war conditions dur.
ing the next six months will not affect
these two plantations. While / believe
that the embargo will be raised befors
then, and that the demand for rubber
win be such that the price win be bet
tor than that at which Pahang and Tan.
ionk Olok have sold forward, the course
that has been taken is the sure and safe
course.
1.-THE output from these two planta.
tons will double within the next tn o
Or three years, while tho increase in
expenses win be relatively small
Depression In Orient
Mr.. Cheek said that there is extreme
in all tropical industries
throughout the Orient excepting only
rubber and copra. The demand for
both Of these products has been ehor.
mously augmented by the European
war.
There was great Decentralization In the
rubber market Immediately after war
was declared, but every plantation in
the Fast is now working full blast to
supply the absolutely unprecedented
demand for rubber.
The rice market has gone to pot all
over the Orient, 50 also silk, tin, gam
bier, pepper and all other spices. gums,
drugs and fibres. Crude tropical prod.
ncta are stagnant aud will remain 30.