New Britain herald., 1928-04-04
ENGLAND ID LIFT RESTRICTIONS 0E RUBBER 0N NOV. 1
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decline represented the greatest swing in prices since March 10, 1926, when quotations rose nearly 6 cents . pound on reports of increased con- sumption.
 Traders crowded the ring today, excitedly trying to sell and in the first hour 3,5s l-2 long tons, or more than so.o00.000 worth of rubber, changed hands. a new trading rec ord. The previous record, e,7l5 tons, was established March 19.
 The restrictions imposed on the export of rubber from Malaya and Ceylon for the past few years. have recently been meeting with increas- ing disfavor among rubber produ- cers themselves because of the steady decline in the price of the crude product. For some time the proportion Of rubber permitted ex- port at . minimum rate of duty has been dropping at intervals of three months, the scheme working on q QuaFteriy Dds1S.
 : Under the Stevenson plan if the average price of rubber in London was under q, but not under 15 pence | pound during any quarter. the exportable percentage of stand ing production for the ensuing quar- ter at the minimum rate of duty was to be reduced by 10.
 If the average price of any quar- ter was not under al. but was less than :4 pence. there was to be no change in the ensuing quarter.
 If the average price for any quarter was 24 or more pence. the percentage was to be increased by 10 for the ensuing quarter.
 In no case was the percentage to be increased above 100 or decreased below So.
 Despite these restrictions. the price of rubber has kept steadily falling and the percentage permitted export at a minimum rate Of duty has been down to the minimum 60 for some months. Even with 60 per cent output the price has been fuctuating around 12 and 13 pence.
 Last month opposition to re- striction came to a head in Singa- pore and Colombo. Forty-seven Of ,2 responses to a questionnaire cir ,culated by the Singapore Chamber oi Commerce favored removal of re- striction. At the same time the East Ceylon Estates Proprietors' assocl- ation made public a suggestion that unless reflects in the rubber restric- ton scheme could be remedied and the scheme applied to all rubber countries 1t should be replaced by a comprehensive plan providing tol the adequate control of supplies.
 In London rubber circles the gen sral feeling has been 10 place the blame for failure of the Stevenson scheme upon the refusal of Dutcf planters to cooperate. The Dutcf planters have been rapidly nearing position of dominance in the mar ket. Their production for the com ink year was estimated at least 10, 900 tons greater than last year ant there was little belief that the! would be willing to join in the re striction.
 Appointment Of civil research committee some time ago was fol lowed by sharp drop in the marke' even though Premier Baldwin sait that nothing drastic was intended.
 The rubber market has been fol lowed with especially keen interes in the United States where the tre mendous development of the auto mobile industry has necessitated i'm portations of large quantities O crude rubber.
 Two years ago Herbert Hoove' headed a campaign against Britisl rubber control. Mir. Hoover advo cated voluntary cooperation b! American consumers to cut dowl their consumption of crude rubbc and to obtain maximum efficienc, out of the stocks in use.
 American tire manufacturers als' have been Investigating the possi bility of producing their own rubber the British restrictions stimulatinl research for rubber substitutes an' for growing rubber in countries opel to American development.