Rubber Outlook

Production in East Declines ACCORDING to oversea trade re ports, an increase in American consumption of rubber in October and the possibility of lower shipments from Malaya for November caused a better feeling in London, but business at the end of November showed no expansion.

Though forward positions were un changed, some transactions had taken place in London and on the Eastern markets for delivery over 1931 on minimum and maximum terms, the basis being about 4d. to 6d., landed London. The heavy stock position in all centres continued to be a depressing factor. Stocks in the United Kingdom were higher at the close of November by 48,449 tons, compared with a year ago, and a month earlier stocks in America amounted to 185,740 tons, as against 88,483 tons at the correspond ing period the year previous.

Monthly estate returns from the East showed that production had been on the decline, and it was thought the peak of stocks will be seen in the near future, providing consumption is main tained at or about the recent level.

Dealers, however, were nervous, and in the absence of any sustained demand there were no outstanding favourable features in sight to brighten the out look.

New Schooner for Rabaul The new auxiliary schooner Nereus, which is intended for the service of the Administrator of the Mandated Territory of New Guinea, left Sydney on January 6 for Rabaul in tow of the Government steam yacht Franklin.

Although her building was completed several months ago, the vessel was de layed in Sydney pending the Franklin’s visit for annual overhaul, so as to save the expense of a long voyage under her own power.

During the year 1929 there entered Vila, chief port of New Hebrides, 19 vessels (16,787 tons) of British registry, 41 vessels (105,496 tons) of French re gistry, and 3 vessels of other national ities.

Vila, on the Island of Efate, chief town of New Hebrides, has now nearly 60 telephones, operated by a central exchange giving continuous service.

There is also a highly efficient radio station, worked by British and French operators.