RUBBER CHAIRMAN'S OPTIMISM If the present condition of the rubber
market, with rubber at about 52d. per lb. and the exportable quota at 6o per cent., does not seem encouraging, the cheerful review which Mr. H. J. Welch gave the shareholders of London Asiatic Rubber and Produce Company should command wide attention. Mr. Welch explained that he was not without hope that the ultimate results for 1938 would be much better than present conditions suggested. Moreover' the London Asiatic Company has two special factors in its favour. It has made forward sales of 1,693,400 lbs. at an average price equivalent to 11.3d. per lb. London, from which it should receive the benefit this year, and it has contributed to Dividend Equalisation Reserve a sum of £25,000 from the past year's profit. The chairman announced that the Board have every intention of drawing readily upon that reserve for the purpose I'm which it is being constituted, if and when occasion arises.
Previous page
