MR. ERIC MILLER ON RUBBER PROSPECTS The estimate of the
rubber position given by Mr. H. Eric Miller at Wednesday's meeting of United Serdang (Sumatra) (Continued on page 156)
Rubber Plantations Corresponded almost exactly with the figures given here last week. He puts the absorption of rubber during 1938 at 9o5,000 tons, a decline of nearly 19o,000 tons. The end of the year stocks outside the regulated area he estimates at 470,000 tons, equal to about 51 months' absorption. He also estimates that the stocks of tyres and other rubber goods in the hands of manufacturers and dealers were lower at the end of 1938 than at the end of 1937. From these factors Mr. Miller explained that he would have been willing to forecast a rise in the price during 5939, were it not for the clouds on the international political horizon. But in present circumstances he would make no prophecy. Operators in Mincing Lane now discounting the possibility of a further increase in quotas at the February meeting of the International Rubber Regulation Committee, will doubtless take heart from Mr. Miller's diffidence and feel that he, as a member of the Committee, could hardly vote for an increase without holding a view on the probable course of prices.
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