Copra Market

Death of Mr. H. M. F. Faure

copra-grower in the South Seas will learn with regret that, early in November, the death occurred of Mr.

H. M. F, Faure, of London. He was head of the firm of that name; and, partly as a result of a lifetime spent in the oil seeds market, and partly as a result of a world-wide system of gathering statistics, which he had created, he was a wizard in forecasting the copra market. He was not always right; but he was right so often that no one could afford to ignore him.

The Pacific Islands Monthly , in Novem ber, published a summary of Mr. Faure’s October report his last report, as it proved. Mr. Faure was of opinion that the market, in 1938, would be somewhat depressed by a heavy production of cotton seed oil and whale oil.

His successors, in their report dated London. November 15, point out that the following falls had occurred in leading commodities:—

They say that they cannot find justi fication for this all-round weakness—it appears all to be traced back to the strange wave of pessimism in Wall St.

They conclude: “There is no dearth of oils and fats in Europe. Spot stocks generally are low, whilst consumers are unhampered with heavy stocks at high prices as they were in the slump of 1931-32. The present situation is, without doubt, very much healthier than it was six years ago, and although the average level of prices over next year is likely to be below the aver age for the present year, we must be pre pared for sharp upward movements.”

Producers almost certainly will show a disposition, throughout the world, to hang on, in the anticipation of better markets. One sees it already in Australia where the United Wool-growers, angered by the operations of “bears” on a timid market, resolved forthwith to reduce their offerings by 20 per cent.

Dr. William Armstrong, who for the past eight years has been practising at Violet Town, Victoria, has been accepted

by the Presbyterian Foreign Mission to

do medical work in New Hebrides. He and his wife will succeed Dr. and Mrs.

D. MacLeod at Lenakel, Tanna Island.

The hospital and other missionary work at Lenakel is carried out under the administration of the John G. Paton Committee, which administers a fund as a memorial to the pioneer Presbyterian missionary of the New Hebrides.

Octobei • 8 November 8 Wheat 8/7? 8/1* Liverpool Cotton ... 4.52d. 4.45d.

Tin £235 £175 Copper , £46 15 0 £37 10 0 Rubber 8d 6|d Cocoa 28/3 26/9 Copra £15 10 0 £14 10 0 Groundnuts - £13 12 6 £12 5 0 Linseed Oil _. £29 12 G £27 0 0