Financial Notes (Continued from page 564.1
AN EXPERT ON TEA AND RUBBER.
Shareholders in Harrisons and Crosfield may be congratu- lated upon the conservative management of their own company and also upon the sound and expert views on the tea and rubber outlook given by the chairman, Mr. Eric Miller, at the recent annual meeting. Through lack of space
I can do no more in this note than draw attention to and emphasize the point made by the chairman in his reference to excessive production at the present time in rubber. Mr. Miller pointed out that when manufacturers of tyres found they were unable to market the whole of their output even at cost price or under, they immediately curtailed production. This principle, however, is apparently not being acted upon by rubber producers at the present time, many producers increasing their production " in the ostrich-like belief that their efficiency and business sense was to be measured in terms of the lowest attainable cost of production regardless of the fact that in pursuing this objective alone they were adding still further to the unwanted surplus stocks of rubber."
A. W. K.
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