Word: crudely
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Dates: during 1920-1929
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Among the numerous brokers in Manhattan, the rubber brokers must not be forgotten. These functionaries handle sales for future delivery in crude rubber much in the same way that grain or cotton brokers sell or buy futures in their respective commodities...
...Before crude rubber soared* in price recently, a number of speculators sold rubber for delivery July 31. They had no rubber, but they "figured" that by that date they could buy it for delivery from incoming steamers. Meantime the ships-the Kansas, the Siberian Prince and the Menelaus- were crowding on steam to reach New York on the closing July date with their cargo of 6,500 tons of crude rubber. They had come from Singapore via the Suez Canal and the Mediterranean, and during the closing days of July were racing across the Atlantic while the impatient brokers...
...three boats contained more rubber than the entire port stocks in London, which amounted to only 3,987 tons. For June, imports of rubber into the U. S. amounted altogether to 31,175 tons of crude...
Then the British reduction of rubber output began to prove effective. Stocks of rubber in London warehouses have fallen from 52,000 tons in April, 1924, to about 5,000 tons today. Crude rubber has risen to 85c a pound-the highest price since 1917, and a rise of 68c (or 300%) in one year. America's millions of car owners are not smiling at Mr. Firestone's prophecies any more. They are thinking of higher tire prices in the future. Tire makers are already raising prices...
Rubber brokers, however, are skeptical of the benefits to be derived from acquiring rubber plantations in the Dutch possessions. They point out that, whereas the U. S. will consume over 300,000 tons of crude rubber this year, the Dutch output is not over 120,000 tons. Moreover, this Dutch rubber would have to be imported via Singapore, the same route over which British plantation rubber comes to this country. Therefore, say the brokers, even if the negotiations between the Netherlands Government and the Rubber Association of America result in the adoption of the latter's proposals, there will...