THE RUBBER POSITION.
The annual meetings of Harrisons and Crosfield are always awaited with interest by reason of the observations which are then made by the Chairman, Mr. H. Eric Miller, with regard to the general rubber position. This time even greater interest was taken in Mr. Miller's remarks owing to the fact that he was dealing with a period which covered the com- mencement of the Regulation Scheme. At the outset Mr. Miller pointed out that it was at present too early to judge as to the results of the scheme, but he made it very clear that the International Committee are in touch with every section of the industry, and that their powers are sufficiently flexible to allow for almost any likely contingency. He stated that the lag in the permissible exports since June 1st was due to the reduction of stocks in the regulated territorie. before the starting of the Regulation Scheme. In August and September when the exportable percentage stood at 90, and as internal stocks had been replenished, shipments were not far short -of the exportable quantities. Taking a long view of the industry Mr. Miller expressed the opinion that in a well-ordered world the aim should be-to have poten- tial supplies always available in excess of expanding require- ments. He pointed out that trees -planted today could not become effective yielders for six or seven years, and would not be fully productive for ten years. Mr. Miller also mentioned that since 1931 the absorption of manufacturing (Continued on page 6024
Financial Notes
"(Continued from page 600.)
countries; other than the. United States, had increased substantially, and he thought that during the next four years at least the producing industry could look forward to a period of world prosperity.
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