Evening star., 1923-05-09
RUBBER SHIPMENTS
CAUSE PRICE DROP
Britain Unable to Prevent
Excess Amounts Being
Thrown Into Markets.
By j. c. HOYLE.

Spec1al Dispatch TO The Star.
NEW YORK, May 9.-Law enforce
ment as well as law enactment by the
British government is the problem
which Is affecting the rubber mark cts
of the world today. Crude rubber has
fallen to p cents pound in this
ciarket, a new low point for 1923.
Tine primary cause for this decline
from above 35 cents a pound. accord
ing to rubber men, is. the fact that
Great Britain has had as much diff
Guilty in en1oncing the restrictions on
the shipment Of rubber from Rprneo
and the Straits Settlements Gas the
United States has had in enforcing
prohibition
Thousands- Of, tons of crude rubber
in excess OF the amount pehnitted for
free ports'Tin the fart east from
whence it had inade'its way TO this
and other countries. About $4,000
sna 5GnS seo sao essn toms Hm
the last fortnight according TO cables
received today.
Increase In Output.
In addition to~the "auoupt Snug
Rled out from the Straits Settlements
plantations. the Colonial authorities
have allowed an increase of per
cent in the tonnage which may be
shipped without incurring heavy eX
port tax penalties This increase
went into effect May and will con
tinue for three months. Rubber men
here declared the increase was not
warranted. as the Stevenson regula-
ton provides that the amount per-
mitted for export shall be increased
If the price of rubber throughout the
previous three months period shall
have averaged is pence or approxi-
mately 35 cents Il pound.
Average prices in February. March
and April did not attain that level
III world markets. rubber men assert
They say, however. that strong pres
sur" r an increase was brought to
bear : planters. The latter easily
can produce seven to ten times the
amount now permitted for export and
do 50 without materially increasing
their production costs. They are,
therefore. making every effort to get
rid % of this excess output at a profit.
Tire manufacturers in America
have withdrawn almost entirely from
tho market for crude rubber. Dealers
admit frankly that they undercsti-
mated the stocks of rubber in the
hands Of manufacturers The late
cold spring has restricted buying OF
tires to some extent and stocks ON
hand have been ample to care for
replacement demands from auto own
erS.
Britain Factor in Sugar Trade.
Great Britain has become a decided
factor In the price of sugar. De-
mand for Cuban raws from England
here. Bids of cents a pound by
British representatives in Cuba have
gone, gone UNI untaken, producers holding
Word from the west indicates that
the growers Of practically every
sugar beet section in Utah. Idaho and
crop and that the yield this year
Of 1922.
Beet production in Europe is cx-
pccted to be l6 per cent greater than
last year although Germany's acreage
VIII be reduced about per cent.
Hundreds of Mexcans arc being
brought into the Red river valley of
which aggregate 1000 acres this
Year.
Labor Problems Discussed.
Delegates to the meeting of the
United States Chamber of Commerce.
now in session here, found little
comfort today in the statement of
Secretary of Commerce Hoover. that
because of the 10 to 10 per cent in
crease of individual efficiency of
workers, 1t would be possible to sup
ply each person with the same
amount of commodities he consumed
ten years ago and lay off 100000
people from work. Many delegates de-
clared there was acute shortage Of
labor in their home districts and said
that it mattered little how efficient
Horkmen had become if employers
could not obtain their services. The
informal discussions of the chamber
+Ie being largely devoted to labor
questions and the promotion of proper
relations between employees and en-
ployer.
Georgin's Highway Program.
ATLANTA May 9.-The Georgia
highway board has let contracts for
roaad and bridges requiring .expendi-
already begun on some of the pro-
iectS. The Nashville. Chattanooga
and ST. Louis railway will expend an
additional s2.5o0ooo for rolling stock
track and road bed on the Chatta-
nooga division. The Georgia railroad
will place orders soon for five new
Mikado type locomotives.
S:.OOO.OOO Terminal Ready.
DULUTH, May 9.-The McDougall
Terminal Warehouse Company has
opened it's new s2,000.000 terminal
building. warehouse and docks. i'll
preparation for the opening of freight
traffic through the great lakes and
the New York state barge canal.
Big Dam Project Started.
SAN FRANCISCO, May 9-.The
Tactic Gas and Electric Company to-
the dam at Lake Fordyce near Grass
valley The new dam will be fifty
feet higher than the old. The work
will extend over two years and will
cost $4,000.
Copyright 1923,