BRITS BLAME AMERICANS FOR DRASTIC DROP IN RUBBER PRICES
London, U.K. (JFK+50) On February 18, 1926, The Evening Star reports that British rubber dealers are "complaining bitterly" about the price of their product falling drastically.
They blame American speculators for the price of rubber going from 5 shillings per pound to "about half that amount."
Ironically, a few months back it was Americans who were demanding "action" against British rubber producers. Now the shoe is on the other foot.
It is expected that rubber prices will continue to fall in the coming months as "production exceeds world demand."
JFK+50 NOTE
Before WWII, rubber was used in the manufacture of hoses, belts, gaskets, flooring and automobile tires. Today, well over 90% of the world's rubber comes from Southeast Asia with Thailand at the top (1/3 world's supply), followed by Indonesia, Vietnam, Malaysia & China.
SOURCE
"Tables Turned as Rubber Goes Down And British Cry for Revenge on U.S.," by Hal O'Flaherty, The Evening Star, Washington, D.C., February 18, 1926, Chronicling America, Library of Congress, www.loc.gov/
